22nd January 2025 current affairs

22nd January 2025 current affairs

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We at Edusprint Academy are committed to bringing you the most relevant and updated 22nd January 2025 current affairs curated from trusted and official sources. These updates are designed to keep you ahead in your exam preparation journey.

Our comprehensive Current Affairs of 22nd January 2025 coverage aims to enhance your knowledge and boost your scores in Banking, Insurance, SSC, Railways, UPSC, and all State Government Exams. Explore our Current Affairs tailored to simplify your exam preparation.

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National news

GOI Launches ‘Entity Locker’ For Efficient Business Document Management

Entity Locker is a secure, cloud-based digital platform developed by the National eGovernance Division (NeGD) under the Ministry of Electronics and Information Technology (MeitY). It streamlines the management and verification of business documents, ensuring efficient and secure digital governance.

Key Features:

Integration with Government Systems:

Seamlessly connected to MCA, GSTN, and DGFT for instant document access and reduced delays.

  • Consent-Based Sharing: Secure and transparent sharing of information with stakeholders through a consent mechanism.
  • Role-Based Access: Aadhaar-authenticated access ensures only authorized personnel can view documents.
  • Digital Signatures: Legally valid digital signatures ensure compliance and authenticity of documents.
  • Secure Cloud Storag: Provides 10 GB encrypted storage to protect sensitive information.
  • Alignment with Digital Public Infrastructure (DPI): Part of India’s DPI initiative, aligned with the Union Budget 2024-25 goals of digital governance and ease of doing business.
Flamingo Festival 2025 Concludes in Andhra Pradesh

The Flamingo Festival 2025 in Andhra Pradesh concluded on January 20, 2025, marking a successful revival of the event after a period of dormancy. The festival, held across key locations like Pulicat Lake and the Nelapattu Bird Sanctuary, attracted numerous visitors, particularly bird watchers, photographers, and nature enthusiasts.

Key Highlights of Flamingo Festival 2025:

Event Overview:

Duration: Three days.

Key Locations:

  • Pulicat Lake: A significant stopover for migratory birds, including flamingos.
  • Nelapattu Bird Sanctuary: Known for its rich birdlife, including flamingo populations.
  • Target Audience: Local tourists from Andhra Pradesh and Tamil Nadu, as well as nature lovers and bird watchers from across India.

Objectives of the Festival:

  • Celebrate Flamingo Biodiversity: Focus on the avian species, particularly flamingos, that flock to the region.
  • Raise Environmental Awareness: Highlight the ecological importance of Pulicat Lake and Nelapattu Bird Sanctuary.
  • Discuss the environmental challenges faced by these ecosystems, such as pollution and habitat degradation.

Government Support:

Ministers’ Participation: Anam Ramanarayana Reddy and Anagani Satya Prasad expressed their gratitude to Chief Minister N. Chandrababu Naidu for reviving the festival, emphasizing the importance of preserving the region’s rich biodiversity.

Conclusion: The Flamingo Festival 2025 was hailed as a major success, drawing attention to the vital need for conservation efforts in these unique ecosystems. It underscored the region’s significance as a sanctuary for migratory birds, especially flamingos, and helped further the cause of environmental protection through public engagement and awareness.

Economy news

Indian Economy Projected to Grow at 7% in FY25: Moody’s Revises Forecast

Moody’s has revised India’s GDP growth forecast for the fiscal year 2024-2025 to 7%, a decrease from the 8.2% growth recorded in the previous fiscal year. This downgrade reflects a combination of domestic and global economic factors, including a slowdown in key sectors and external challenges.

Key Points of Moody’s Economic Growth Forecast:

Revised Growth Outlook:

  • New Forecast: 7% growth for FY 2024-2025.
  • Previous Year: 8.2% growth in FY 2023-2024.

The downgrade is attributed to a mix of factors, including:

  • Global economic slowdown.
  • Domestic challenges in key sectors.
  • Geopolitical tensions affecting trade and investment.
  • Inflationary pressures impacting both production and consumption.

Key Factors Behind the Downgrade:

Global Economic Conditions:

  • Slower global demand.
  • Continued uncertainty due to geopolitical tensions.

Domestic Economic Performance: Weaker-than-expected performance in critical sectors such as manufacturing and agriculture.

Positive Indicators: Despite the overall downgrade, Moody’s highlighted the improvement in India’s GDP per capita:

GDP per capita at purchasing power parity (PPP): Increased by 11% year-on-year.

FY 2023 GDP per capita (PPP): $10,233.

This growth in per capita income signifies a positive improvement in the standard of living.

International news

Donald Trump Sworn in as 47th President of the United States

Donald Trump was inaugurated as the 47th President of the United States on January 20, 2025, marking his return to office after a four-year hiatus. This event solidifies his place in history as one of the most notable political comebacks, making him the second president after Grover Cleveland (1893) to serve non-consecutive terms. At 78 years old, Trump replaces Joe Biden as the oldest U.S. president at inauguration.

Inauguration Ceremony:

  • Held indoors at the Capitol Rotunda due to extreme cold, marking the coldest inauguration day in 40 years.
  • Mirrored Ronald Reagan’s 1985 indoor inauguration caused by similar weather conditions.

Significance of the Event:

  • Trump’s team hailed his return as the beginning of the “Golden Age of America.”
  • His deputy, JD Vance, was also sworn in during the ceremony.

China Unveils World’s Longest Tunnel, Enhances BRI Connectivity

China has completed the construction of the Tianshan Shengli Tunnel, the world’s longest expressway tunnel, marking a significant advancement in infrastructure development and enhancing connectivity within the Xinjiang Uygur Autonomous Region.

Key Highlights

Tunnel Specifications:

  • Length: 22.13 kilometers, the longest expressway tunnel globally.
  • Route: Integral to the Urumqi-Yuli Expressway, linking Urumqi in northern Xinjiang to Yuli County in the south.
  • Impact: Reduces travel through the Tianshan Mountains from three hours to 20 minutes.

Construction Challenges:

  • Terrain: High altitudes exceeding 3,000 meters with complex geological conditions.
  • Innovation: First-time use of tunnel boring machines in China’s road projects to overcome challenges and expedite work.
  • Environmental Sensitivity: Located near the Tianshan No. 1 Glacier and Urumqi’s water source protection area, necessitating ecological safeguards.


Banking news

RBI Constitutes New Advisory Committee for Bank Licensing

On January 20, 2025, the Reserve Bank of India (RBI) established a new Standing External Advisory Committee (SEAC) to evaluate applications for Universal Banks and Small Finance Banks (SFBs). The committee, chaired by M. K. Jain, former Deputy Governor of the RBI, is set to play a pivotal role in maintaining the integrity and transparency of India’s banking sector.

Committee Composition and Tenure:

The SEAC is comprised of the following five members:

  • M. K. Jain – Chairperson and former Deputy Governor, RBI.
  • Revathy Iyer – Director, Central Board, RBI.
  • Parvathy V. Sundaram – Former Executive Director, RBI.
  • Hemant G. Contractor – Former Managing Director, State Bank of India and former Chairman, Pension Fund Regulatory and Development Authority.
  • N. S. Kannan – Former Managing Director and CEO, ICICI Prudential Life Insurance.

Tenure: The committee’s tenure is three years, with secretarial support provided by the RBI’s Department of Regulation.

Background and Evolution: The creation of this committee follows the precedent set in March 2021, when a similar committee was led by Shyamala Gopinath, former RBI Deputy Governor. The SEAC’s primary function is to evaluate applications for Universal Banks and SFBs, ensuring that applicants meet regulatory criteria.

Noteworthy Exemption: Existing SFBs seeking Universal Bank licenses may bypass this vetting process, as their credentials were previously assessed during their initial licensing.

Current Applications Under Review:

The RBI is currently reviewing the following applications:

  • Annapurna Finance: Seeking a Universal Bank license.
  • AU Small Finance Bank (AU SFB): Applied for a Universal Bank license.
  • Fino Payments Bank: Applied for an SFB license.
  • VFS Capital: Applied for an SFB license.
RBI Directs Banks to Use ‘1600xx’ Number Series for Transactional Calls

In a move to combat financial fraud, the Reserve Bank of India (RBI) has mandated that banks and other regulated entities (REs) utilize the ‘1600xx’ numbering series exclusively for transactional calls to customers. For promotional communications, the ‘140xx’ series should be employed. This directive aims to enhance the security of digital transactions and protect customers from fraudulent activities.

Key Directives from the RBI:

Utilization of Specific Number Series:

  • Transactional Calls: Banks and REs must use the ‘1600xx’ series exclusively for transactional calls to customers.
  • Promotional Calls: The ‘140xx’ series must be used for promotional communications.
  • Purpose: This differentiation helps distinguish between legitimate transactional communications and promotional messages, reducing the risk of fraud.

Monitoring and Cleaning Customer Databases:

Financial institutions must actively monitor and update their customer databases to ensure the accuracy of contact details.

Mobile Number Revocation List (MNRL): Institutions must use the Digital Intelligence Platform (DIP), developed by the Department of Telecommunications (DoT), to identify and remove invalid or revoked numbers from their databases.

Development of Standard Operating Procedures (SOPs):

  • Banks are encouraged to develop SOPs for updating registered mobile numbers after proper verification.
  • Institutions should also enhance the monitoring of accounts linked to revoked numbers to prevent misuse.

Compliance Deadline:

  • Deadline for Compliance: All regulated entities must adhere to these directives by March 31, 2025.
  • Urgency: The timeline emphasizes the need for swift implementation to protect customers from financial fraud.

Contextual Background:

  • Rising Fraud Risks: With the increasing use of digital transactions, there has been a rise in financial fraud, with scammers using mobile numbers for unauthorized activities.
  • RBI’s Objective: The measures aim to strengthen the security of digital financial services, ensuring better protection against emerging fraud risks and safeguarding consumer interests.
RBI Releases 2024-25 List of Non-Banking Finance Companies (NBFCs) in Upper Layer (UL) under Scale Based Regulation (SBR)

In January 2025, the Reserve Bank of India (RBI) released its 2024-25 list of Non-Banking Finance Companies (NBFCs) in the Upper Layer (UL) segment under the Scale Based Regulation (SBR) framework. The list includes 15 companies and reflects ongoing regulatory adjustments within the financial sector.

Key Highlights:

Tata Sons Private Limited: Despite Tata Sons’ request to de-register as an NBFC, RBI has retained it in the Upper Layer segment, and the matter is currently under examination.

List of Included Companies:

The updated list comprises prominent companies such as:

  • Life Insurance Corporation of India (LIC) Housing Finance Limited (HFL)
  • Bajaj Finance Limited (BFL)
  • Shriram Finance Limited (SFL)

Muthoot Finance Limited (MFIN): Muthoot Finance, a key player in the gold loan segment, has been retained in the UL list for the third consecutive year, marking its continued prominence in the sector.

Piramal Enterprise Limited (PEL): PEL was included in the UL list based on its scoring but has been eliminated for 2024-25 due to ongoing reorganization within the business group.

Conclusion: The RBI’s Upper Layer list for 2024-25 highlights the ongoing adjustments and growth within the NBFC sector. The inclusion and exclusion of companies, particularly the retention of Muthoot Finance and the elimination of Piramal Enterprise, underscore the evolving regulatory landscape that seeks to strengthen and streamline the financial system.

RBI:

  • Founded: 1 April 1935, Kolkata
  • Headquarters: Mumbai
  • Governor: Sanjay Malhotra
IDFC FIRST Bank Launches ‘FIRST EARN RuPay Credit Card’ in Partnership with NPCI

On January 20, 2025, IDFC FIRST Bank Limited, in collaboration with the National Payments Corporation of India (NPCI), launched the ‘FIRST EARN RuPay Credit Card’. This card is integrated with the Unified Payments Interface (UPI) and aims to offer a seamless and rewarding payment experience for users, backed by an innovative partnership with RuPay, India’s global card payment network.

About the FIRST EARN RuPay Credit Card:

Key Features:

Fixed Deposit Backing:

  • The card is backed by a Fixed Deposit (FD), making it instantly available online to everyone.
  • Cashback on UPI Payments is available as an added benefit.

Credit Access and Rewards: Users can access credit on UPI and earn rewards, while simultaneously enjoying attractive interest on FD.

Eligibility Criteria:

  • Must be an Indian citizen.
  • Minimum age of 18 years.
  • Have a minimum FD of Rs. 5,000 with IDFC FIRST Bank.

Features & Benefits:

  • Seamless UPI Integration: Use the card for UPI transactions at over 60 million QR code locations.
  • Instant Card Issuance: Virtual credit card available instantly with seamless UPI integration for immediate use.
  • Cashback Offer: 100% cashback on the first UPI transaction (up to Rs. 500) within the first 15 days, effectively refunding the first year’s fees.

Rewards Program:

  • Up to 1% cashback on UPI transactions via the IDFC FIRST Bank app.
  • 0.5% cashback on transactions via other UPI apps, as well as on insurance, utility bill payments, and e-commerce purchases.

Interest on Fixed Deposit: Earn 7.25% p.a. interest on a 1-year, 1-day FD.

Comprehensive Protection:

  • Complimentary roadside assistance valued at Rs. 1,399.
  • Lost card liability coverage up to Rs. 25,000.
  • Personal accident coverage up to Rs. 2,00,000.

IDFC:

  • Headquarters: Mumbai
  • Founded: October 2015
  • CEO: V. Vaidyanathan (19 Dec 2018–)

Ranks and report news

India’s Coffee Journey: From Roots to Global Reach; World’s 7th Largest Coffee Producer

India has achieved a significant milestone by becoming the seventh-largest coffee producer globally, with exports reaching $1.29 billion in the fiscal year 2023-24, nearly doubling from $719.42 million in 2020-21. This growth reflects India’s increasing presence and influence in the global coffee market.

Historical Roots and Evolution:

Introduction of Coffee to India: Coffee was introduced to India in the 1600s by Sufi saint Baba Budan, who brought seven Mocha seeds to the hills of Karnataka. This act marked the beginning of coffee cultivation in India, which has since evolved into a vital agricultural industry.

Current Production and Export Landscape:

Production Volume: India primarily produces Arabica and Robusta coffee beans, with about three-fourths of the total production consisting of these two varieties.

Export Trends:

  • In the first half of January 2025, India exported over 9,300 tonnes of coffee. Key buyers include Italy, Belgium, and Russia.
  • Export Growth: The export value surged due to growing global demand for India’s distinctive coffee flavors, contributing to its enhanced global market share.

Regional Production Insights:

Coffee Cultivation Areas: India’s coffee is mainly grown in the ecologically rich Western and Eastern Ghats, regions known for their biodiversity and shaded coffee plantations.

Top Producing States:

  • Karnataka leads in production, contributing 248,020 metric tonnes in 2022-23.
  • Kerala and Tamil Nadu follow, both contributing significantly to India’s coffee output.

These regions not only support coffee farming but also contribute to environmental preservation, maintaining the ecological balance of these biodiversity hotspots.

World’s Largest Coffee Producers (Ranked):

  • Brazil – Leading the global coffee market, contributing 37% of global coffee supply.
  • Vietnam – Known primarily for its Robusta coffee.
  • Colombia – A major producer of Arabica coffee.
  • Indonesia – Specializes in Robusta and specialty coffees.
  • Honduras – A leading coffee producer in Central America.
  • Mexico – A significant exporter of Arabica coffee.
  • India – Growing both Arabica and Robusta beans, now ranked seventh globally.
GlobalData Report: Top 25 Global Banks by Market Capitalization in Q4 2024

In January 2025, GlobalData Plc, a London-based data analytics and research company, released its report on the Top 25 Global Banks by Market Capitalization (MCap) for the fourth quarter (Q4) of 2024. According to the report, JPMorgan Chase & Co, based in New York, USA, remains the world’s largest bank by market capitalization, recording a significant 37.2% increase in its market value, which reached USD 674.9 billion by the end of Q4 2024, up from USD 492.2 billion in Q4 2023.

Key Highlights from the Report:

JPMorgan Chase & Co (USA):

  • Market Cap (Q4 2024): USD 674.9 billion
  • Growth: +37.2% increase from Q4 2023, maintaining its position as the world’s largest bank by market capitalization.

Bank of America Corporation (USA): Ranked 2nd with a market cap of USD 337.2 billion.

Industrial and Commercial Bank of China (ICBC) (China): Ranked 3rd with a market cap of USD 328.2 billion.

India’s Banks Performance:

  • HDFC Bank: Dropped from 7th to 13th position compared to Q4 2023.
  • ICICI Bank: Moved up from 20th to 19th position.

State Bank of India (SBI): Retained its 24th position.

About GlobalData Plc:

  • CEO: Mike Danson
  • Headquarters: London, United Kingdom (UK)
  • Founded: 1999


Appointment news

Sanjiv Ranjan Appointed as Secretary General of Indian Ocean Rim Association

the Ministry of External Affairs announced the appointment of Shri Sanjiv Ranjan as the next Secretary General of the Indian Ocean Rim Association (IORA). Shri Ranjan, a seasoned diplomat from the 1993 batch of the Indian Foreign Service, will soon assume his new role.

About the Indian Ocean Rim Association (IORA):

IORA Membership: IORA is a regional organization consisting of 23 member states that border the Indian Ocean, including key countries like India, Australia, Indonesia, and South Africa.

Primary Objectives:

The association’s focus is to promote:

  • Economic Cooperation
  • Sustainable Development
  • Regional Security among Indian Ocean Rim countries.

Dialogue Partners:

IORA also has 12 dialogue partners, which include global players such as:

  • China
  • European Union
  • United States

Global Recognition: In 2015, IORA was granted observer status at both the United Nations General Assembly and the African Union, marking its growing influence in regional and international affairs.

Defence news

INS Mumbai Joins La Perouse 2025

The Indian Navy’s guided-missile destroyer, INS Mumbai, is taking part in the fourth edition of Exercise La Perouse, a multinational naval exercise that began on January 16, 2025. The exercise is held in the strategically significant Malacca, Sunda, and Lombok straits, critical corridors for global trade.

Key Objectives and Participants

Objectives of La Perouse 2025:

  • Enhance maritime situational awareness.
  • Promote interoperability and cooperation among navies.

Focus on activities such as:

  • Maritime surveillance.
  • Interdiction operations.
  • Air operations.

Participating Nations:

  • India (INS Mumbai)
  • Australia (Royal Australian Navy)
  • France (French Navy)
  • United Kingdom (Royal Navy)
  • United States (United States Navy)
  • Indonesia (Indonesian Navy)
  • Malaysia (Royal Malaysian Navy)
  • Singapore (Republic of Singapore Navy)
  • Canada (Royal Canadian Navy)

INS Mumbai’s Role and Strategic Significance

INS Mumbai:

  • An indigenously designed and built guided-missile destroyer.
  • Participates in surface warfare, anti-air warfare, air defense, and Visit, Board, Search, and Seizure (VBSS) operations.

Strategic Importance:

  • Showcases India’s commitment to a rules-based international order in the Indo-Pacific.
  • Aligns with India’s SAGAR initiative (Security and Growth for All in the Region), emphasizing regional maritime security and cooperation.

Historical Context of La Perouse

  • La Perouse Exercise: Biennial event since 2021.
  • Previous editions have fostered stronger naval ties and showcased the importance of multilateral exercises in the Indo-Pacific region, reflecting the growing need for maritime collaboration in this critical area.

Sports news

Jannik Sinner and Iga Świątek Named ITF World Champions 2024

On January 21, 2025, the International Tennis Federation (ITF) announced Jannik Sinner (Italy) as the Men’s ITF World Champion 2024 and Iga Natalia Świątek (Poland) as the Women’s ITF World Champion 2024. Both players were recognized for their outstanding performances in major tournaments, including Grand Slams, the Davis Cup, the Billie Jean King Cup, the Olympic Games, and other premier events.

Key Highlights:

Jannik Sinner (Italy):

  • Men’s ITF World Champion 2024
  • Historic Achievement: Becomes the first Italian player to receive this prestigious award.

Iga Natalia Świątek (Poland):

  • Women’s ITF World Champion 2024
  • Awarded for the second time, after previously winning the honor in 2022.

Men’s Doubles Champions: Marcelo Arévalo González (El Salvador) & Mate Pavic (Croatia).

Women’s Doubles Champions: Sara Errani & Jasmine Paolini (Italy).

About the International Tennis Federation (ITF):

  • President & CEO: David Haggerty
  • Headquarters: London, United Kingdom (UK)
  • Established: 1913
India Wins Both Titles at the Kho Kho World Cup 2025

The Indian men’s and women’s teams won the Kho Kho World Cup 2025 titles in their respective finals of the 1st edition of the Kho Kho World Cup 2025 held from January 13 to 19, 2025 at the Indira Gandhi Indoor Stadium in New Delhi, Delhi.

  • The Indian men’s Kho Kho team beat Nepal by 54-36 while the women’s team defeated the Nepalese team by 78-40 in the finals.
  • The Indian men’s team was captained by Pratik Waikar while the Women’s team was captained by Priyanka Ingle.

Final Match Results:

  • Men’s Final: India defeated Nepal by 54-36.
  • Women’s Final: India won against Nepal by 78-40.

Both Indian teams were captained by:

  • Men’s team captain: Pratik Waikar
  • Women’s team captain: Priyanka Ingle

Key Highlights:

Indian Men’s Team:

  • Unbeaten throughout the tournament.
  • Topped Group A with four wins.
  • Defeated Sri Lanka in the quarter-finals and South Africa in the semi-finals.

Indian Women’s Team:

  • Unbeaten throughout the tournament.
  • Won all three Group A matches.
  • Defeated Bangladesh in the quarter-finals and South Africa in the semi-finals.

About Kho Kho World Cup 2025:

Organizers:

  • Kho Kho Federation of India (KKFI)
  • International Kho Kho Federation (IKKF)
  • Support: Backed by the Indian Olympic Association (IOA).

Participating Teams:

  • Men’s teams: 20 teams
  • Women’s teams: 19 teams

Tournament Format: Round-robin format in the group stage, with top teams advancing to knockout rounds and finals.

Groupings:

  • Men’s Group A: India, Nepal, Peru, Brazil, Bhutan
  • Women’s Group A: India, Islamic Republic of Iran, Malaysia, Republic of Korea
  • Upcoming Tournament: The second edition will take place in Birmingham, England in 2026-27.

About Kho Kho Federation of India (KKFI):

  • President: Sudhansu Mittal
  • Headquarters: New Delhi, Delhi
  • Established: 1955

Important days

Manipur, Meghalaya and Tripura Celebrate Statehood Day 2025

Statehood Day, observed annually on January 21, marks the historic milestone when Manipur, Meghalaya, and Tripura attained full statehood under the North Eastern Region (Reorganization) Act of 1971. This day celebrates their cultural richness, historical significance, and contributions to India’s identity.

The Northeastern Region: A Land of Diversity

The Seven Sisters—Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura—are known for their:

  • Natural Beauty: Lush hills, plains, dense forests, and biodiversity.
  • Cultural Richness: Unique traditions, languages, and ethnic diversity.
  • Heritage Contribution: Integral to India’s cultural and national identity.

Historical Journey to Statehood

1. Manipur: The Jewel of India

  • Historical Background: A princely state under Maharaja Bodhachandra Singh.
  • Merged with India in 1949 via the Instrument of Accession and Merger Agreement.
  • Transitioned to full statehood on January 21, 1972.

2. Meghalaya: The Abode of Clouds

  • Path to Statehood: Formed as an autonomous state within Assam in 1970.
  • Achieved statehood on January 21, 1972, recognizing its distinct cultural identity.
  • Key Features: Khasi, Jaintia, and Garo communities play a vital role in preserving Meghalaya’s unique cultural and linguistic heritage.

3. Tripura: A Blend of Tribal and Non-Tribal Cultures

  • Historical Integration: Former princely state merged with India in 1949 under Queen Kanchan Prabha’s regency.
  • Became a full-fledged state on January 21, 1972.
  • Cultural Fusion: Celebrates a harmonious blend of tribal and non-tribal traditions.

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