Daily Current Affairs of 17th February 2025 in English

Introduction:

Daily Current Affairs of 17th February 2025, witnessed a series of significant events across various domains, ranging from infrastructure development to geopolitical concerns, cultural celebrations, and scientific discoveries. Here's an in-depth look at the noteworthy occurrences of the day.

Top Current Affairs and News Headlines – February 17, 2025

Daily GK Update – 17th February 2025: Current Affairs

Here are the major national and international updates, developments, and key events from 17th February 2025:

National News

Indian Government to Launch Deregulation Commission to Limit State’s Role in Governance

Prime Minister Narendra Modi revealed plans to set up a Deregulation Commission designed to minimize the state's involvement in governance. Speaking at the ET Now Global Business Summit, Modi highlighted the government’s dedication to dismantling bureaucratic barriers and enhancing the ease of doing business. This initiative is part of a larger strategy to make India a more business-friendly and efficient economy.

President Droupadi Murmu Opens 'Aadi Mahotsav' National Tribal Festival in New Delhi

On February 16, 2025, President Droupadi Murmu inaugurated the National Tribal Festival 'Aadi Mahotsav' in New Delhi. Held at Major Dhyan Chand National Stadium from February 16-24, the event is organized by the Ministry of Tribal Affairs. It celebrates India’s diverse tribal heritage, traditions, and cultures, offering a unique platform for tribal artisans and performers to showcase their talents.

International News

Philippines to Secure $200 Million Akash Missile System Deal with India

India’s defense exports are expanding, with a potential $200 million agreement for supplying the Akash missile system to the Philippines. The deal, expected to be finalized within the current fiscal year, underscores India’s growing defense industry influence and its strengthening relationship with the Philippines. The Akash missile system, created by India’s Defence Research and Development Organisation (DRDO), is gaining attention globally for its technological advancements, efficiency, and affordability.

State News

Karnataka Tops Local Governance Performance; UP Sees Significant Improvement

Karnataka has emerged as the leader in the 2024 Local Governance Performance Index, demonstrating the state's commitment to effective local governance. The index assesses local body management, financial transparency, capacity building, and accountability. Karnataka surpassed Kerala, which led in 2015-16. Uttar Pradesh has also shown remarkable progress, climbing from 15th to 5th in the rankings, signaling improvements in transparency, anti-corruption efforts, and administrative reforms.

Banking News

Bank of Maharashtra Receives RBI Nod for GIFT City Branch

The Reserve Bank of India (RBI) has granted approval to the Bank of Maharashtra (BoM) to establish a branch in Gujarat International Finance Tec-City (GIFT City). This development aligns with the bank’s strategy to enhance its offshore banking operations and expand its presence in India’s growing financial sector.

SEBI Launches New Portal for Related Party Transactions (RPT) to Boost Corporate Governance

To strengthen corporate governance and market transparency, the Securities and Exchange Board of India (SEBI) has introduced a dedicated portal for monitoring Related Party Transactions (RPT). The initiative aims to streamline reporting mechanisms and ensure listed companies adhere to strict disclosure standards, reinforcing SEBI’s efforts to create a more accountable and transparent market environment.

Indian Banks’ Margins Set to Drop 10 Basis Points in FY26

Indian banks are expected to experience a 10-basis point drop in net interest margins (NIMs) in the fiscal year 2025-26, according to a Fitch Ratings report. This forecast comes after the Reserve Bank of India (RBI) reduced its key policy rate by 25 basis points to 6.25% in February 2025. The rate cut, the first in nearly five years, signals a shift towards boosting economic activity, but it poses challenges for banks by compressing their margins in the short term.

Axis Bank Donates ₹104 Crore to Ashoka University for Research Advancement

Axis Bank has pledged ₹104 crore over the next four years to Ashoka University in a significant move to support interdisciplinary research. The funds will enhance the university’s PhD and postdoctoral programs, with a focus on Neurosciences, Behavioral Studies, and Physics, fostering new opportunities for students and researchers to address global challenges.

Business News

Campa Cola Overtakes Thums Up as IPL 2025 Co-Presenter

Campa Cola, a beverage brand from Reliance Consumer Products, has secured a ₹200 crore deal as the co-presenting sponsor for the Indian Premier League (IPL) 2025. This move marks a pivotal shift in India’s beverage market, traditionally dominated by global brands like Coca-Cola, and aligns with Reliance’s strategy to expand its presence and diversify its product offerings during the IPL season.

Meta’s $50,000 km Undersea Cable Project to Enhance India-US Digital Connectivity

Meta has announced an ambitious plan to lay down a 50,000-kilometer undersea cable under its Project Waterworth. This project will significantly improve digital connectivity between India and the United States, benefiting regions across the US, India, South America, and Africa. The initiative is poised to facilitate faster, more reliable internet access, promoting global economic growth and digital inclusion.

Summits and Conferences News

BRICS Summit to Be Held in Rio Amid US Tariff Concerns

Brazil is set to host the 17th BRICS Summit in Rio de Janeiro on July 6-7, 2025. The summit will bring together leaders from Brazil, Russia, India, China, South Africa, and invited nations to discuss global governance reforms and foster deeper cooperation among Global South countries. The bloc, initially founded in 2009, has grown significantly, now including countries like Iran, Saudi Arabia, Egypt, and the UAE, with others, such as Turkey, Malaysia, and Azerbaijan, seeking membership.

BHARAT TEX 2025: Celebrating India’s Textile Industry on the Global Stage

The second edition of BHARAT TEX 2025, a premier global event in the textile industry, is being held from February 14-17, 2025. This event, supported by India’s Ministry of Textiles, serves as a platform to showcase India’s textile industry, bringing together key stakeholders, including manufacturers, buyers, and innovators.

Ranks & Reports News

India Faces Growing Extreme Weather Crisis: Increased Deaths and Economic Losses

India is experiencing a surge in extreme weather events, leading to significant losses in both human life and the economy. A new report reveals that India accounts for 10% of global deaths due to extreme weather, making it one of the most impacted nations. Between 1993 and 2022, over 400 extreme weather events resulted in nearly 80,000 fatalities and an estimated economic loss of $180 billion, with concerns over the increasing frequency of such disasters.

Important Days News

Global Tourism Resilience Day 2025: Celebrating Strength in Tourism

Global Tourism Resilience Day, observed on February 17 each year, focuses on celebrating the adaptability and strength of the tourism sector. This day encourages nations to strengthen their tourism industries to withstand challenges like pandemics and economic crises, ensuring continued cross-cultural exchange and sustainability in the face of future disruptions.

International Childhood Cancer Day: Raising Awareness for Young Cancer Patients

International Childhood Cancer Day (ICCD), observed on February 15, aims to raise awareness about childhood cancer and improve access to treatments and support for young patients and their families. Established in 2002 by Childhood Cancer International (CCI), ICCD emphasizes the need for better healthcare, early detection, and ongoing medical research to improve outcomes for children battling cancer.

Sports News

Asian Winter Games 2025: China Dominates, India Falls Short of Medals

The 9th Asian Winter Games took place in Harbin, Heilongjiang Province, China, from February 7-14, 2025. The event aimed to promote winter sports across Asia and saw participation from 34 countries. While China led the medal tally, India did not manage to secure any medals in the competition, which included 64 events across 11 winter sports disciplines.

Jacob Kiplimo Sets New Half-Marathon World Record in Barcelona

Ugandan athlete Jacob Kiplimo broke the world half-marathon record in Barcelona by completing the 21.0975 km race in an impressive 56 minutes and 42 seconds, beating the previous record by 48 seconds. This historic performance marks the greatest improvement in the men’s world half-marathon record.

Obituaries News

C Krishnaveni, Telugu Cinema Icon, Passes Away at 102

C Krishnaveni, a trailblazer in the Telugu film industry, passed away at the age of 102 in Hyderabad due to natural causes. She is remembered for her significant contributions to the industry, including discovering legendary talents like NT Rama Rao (NTR) and Ghantasala Venkateswara Rao. Her versatile career as an actress, singer, and producer has left an indelible mark on Telugu cinema.

Famed Bengali Singer and Composer Pratul Mukhopadhyay Dies at 83

Pratul Mukhopadhyay, the renowned Bengali vocalist, composer, and lyricist, passed away at the age of 83. His soulful and revolutionary songs, including classics like Ami Banglar Gaan Gai and Dinga Bhasao Re, have shaped the musical heritage of West Bengal and continue to resonate with generations.

Daily Current Affairs Question Answers in English of

17th February 2025

1. What is the primary goal of the Deregulation Commission proposed by the Indian government?

A) To enhance bureaucratic barriers

B) To reduce the state's role in governance

C) To promote state-owned enterprises

D) To increase government interventions in business

Correct Answer: B) To reduce the state's role in governance

Explanation: The Deregulation Commission is designed to minimize the state's involvement in governance by dismantling bureaucratic barriers, which will create a more business-friendly environment.

2. When did President Droupadi Murmu inaugurate the 'Aadi Mahotsav' National Tribal Festival in New Delhi?

A) February 14, 2025

B) February 16, 2025

C) February 10, 2025

D) February 24, 2025

Correct Answer: B) February 16, 2025

Explanation: President Droupadi Murmu inaugurated the 'Aadi Mahotsav' National Tribal Festival on February 16, 2025, to celebrate India’s diverse tribal heritage.

3. Which country is India negotiating a $200 million Akash missile system deal with?

A) Sri Lanka

B) Indonesia

C) Philippines

D) Malaysia

Correct Answer: C) Philippines

Explanation: India is in discussions with the Philippines for a $200 million deal for the supply of the Akash missile system, which will enhance its defense exports.

4. Which state topped the 2024 Local Governance Performance Index?

A) Kerala

B) Uttar Pradesh

C) Karnataka

D) Tamil Nadu

Correct Answer: C) Karnataka

Explanation: Karnataka topped the 2024 Local Governance Performance Index, which evaluates local governance based on factors like financial transparency and accountability.

5. What is the significance of the Bank of Maharashtra’s new branch in GIFT City?

A) It will serve as a new headquarters for the bank

B) It will cater exclusively to international clients

C) It will strengthen its offshore banking operations

D) It will focus solely on agriculture loans

Correct Answer: C) It will strengthen its offshore banking operations

Explanation: The RBI-approved branch in GIFT City will help Bank of Maharashtra expand its presence in India's growing financial sector, particularly in offshore banking.

6. What initiative has SEBI introduced to improve corporate governance?

A) Creation of a new index for corporate governance

B) A new portal for monitoring Related Party Transactions (RPT)

C) Financial audits for all listed companies

D) Enhanced tax rates for corporate entities

Correct Answer: B) A new portal for monitoring Related Party Transactions (RPT)

Explanation: SEBI’s new portal aims to improve transparency and accountability in corporate governance by streamlining reporting mechanisms for related party transactions.

7. What is the expected impact on Indian banks’ net interest margins (NIMs) in FY26?

A) Increase by 10 basis points

B) Remain unchanged

C) Drop by 10 basis points

D) Drop by 25 basis points

Correct Answer: C) Drop by 10 basis points

Explanation: A Fitch Ratings report suggests that Indian banks’ net interest margins will decrease by 10 basis points due to a recent reduction in the key policy rate by the RBI.

8. How much has Axis Bank pledged to Ashoka University for research advancement?

A) ₹50 crore

B) ₹104 crore

C) ₹200 crore

D) ₹250 crore

Correct Answer: B) ₹104 crore

Explanation: Axis Bank has committed ₹104 crore over four years to support interdisciplinary research at Ashoka University, focusing on areas like Neurosciences and Physics.

9. Which beverage brand overtook Thums Up as the co-presenter for IPL 2025?

A) Pepsi

B) Coca-Cola

C) Campa Cola

D) Sprite

Correct Answer: C) Campa Cola

Explanation: Campa Cola secured a ₹200 crore deal as the co-presenting sponsor for IPL 2025, marking a significant shift in the Indian beverage market.

10. What is Meta’s undersea cable project aimed at improving?

A) Internet speed within India

B) Digital connectivity between India and the US

C) India’s domestic mobile network

D) Space communication infrastructure

Correct Answer: B) Digital connectivity between India and the US

Explanation: Meta’s Project Waterworth, involving the laying of a 50,000 km undersea cable, aims to enhance digital connectivity between India and the US, fostering better internet access globally.

11. Where will the 17th BRICS Summit take place in 2025?

A) New Delhi

B) Moscow

C) Rio de Janeiro

D) Johannesburg

Correct Answer: C) Rio de Janeiro

Explanation: Brazil will host the 17th BRICS Summit in Rio de Janeiro on July 6-7, 2025, with discussions on global governance reforms and cooperation among Global South nations.

12. Which Indian state is currently witnessing a significant rise in extreme weather events?

A) Maharashtra

B) Uttar Pradesh

C) Tamil Nadu

D) India (national level)

Correct Answer: D) India (national level)

Explanation: India is experiencing a rise in extreme weather events, accounting for 10% of global deaths due to such events, with massive economic losses as well.

13. What is the focus of Global Tourism Resilience Day?

A) Promoting international travel

B) Encouraging environmental conservation

C) Strengthening tourism sector resilience

D) Celebrating cultural diversity

Correct Answer: C) Strengthening tourism sector resilience

Explanation: Global Tourism Resilience Day focuses on enhancing the adaptability and strength of the tourism sector to withstand challenges like pandemics and economic crises.

14. What is the main goal of International Childhood Cancer Day (ICCD)?

A) To raise funds for childhood cancer research

B) To raise awareness and improve healthcare for young cancer patients

C) To celebrate advancements in childhood cancer treatments

D) To promote cancer awareness among adults

Correct Answer: B) To raise awareness and improve healthcare for young cancer patients

Explanation: ICCD aims to raise awareness about childhood cancer and improve access to treatments and support for young patients and their families.

15. Which country dominated the 9th Asian Winter Games in 2025?

A) South Korea

B) China

C) Japan

D) India

Correct Answer: B) China

Explanation: China led the medal tally at the 9th Asian Winter Games, which took place in Harbin, China, from February 7-14, 2025.

16. What world record did Jacob Kiplimo set at the 2025 Barcelona Half Marathon?

A) Full marathon record

B) Half-marathon record

C) 10,000-meter record

D) 5,000-meter record

Correct Answer: B) Half-marathon record

Explanation: Jacob Kiplimo set a new world half-marathon record by completing the race in 56 minutes and 42 seconds, beating the previous record by 48 seconds.

17. Who was the Telugu cinema icon who passed away at the age of 102?

A) N. T. Rama Rao

B) C. Krishnaveni

C) Ghantasala Venkateswara Rao

D) Savitri

Correct Answer: B) C. Krishnaveni

Explanation: C. Krishnaveni, a pioneering figure in Telugu cinema, passed away at the age of 102, leaving a lasting legacy in the industry.

18. Who was the famous Bengali singer and composer who died at the age of 83?

A) Hemanta Mukherjee

B) Manna Dey

C) Pratul Mukhopadhyay

D) Lata Mangeshkar

Correct Answer: C) Pratul Mukhopadhyay

Explanation: Pratul Mukhopadhyay, a renowned Bengali vocalist and composer, passed away at 83, leaving behind a significant legacy in Bengali music.

19. What was the primary theme of the BHARAT TEX 2025 event?

A) Showcasing India’s textile innovations

B) Promoting environmental sustainability in textiles

C) Celebrating India’s textile industry on the global stage

D) Fostering international trade in textile goods

Correct Answer: C) Celebrating India’s textile industry on the global stage

Explanation: BHARAT TEX 2025 served as a global platform to showcase India’s vibrant textile industry, bringing together key stakeholders from around the world.

20. Which country is seeking membership in the BRICS bloc, according to the upcoming summit in 2025?

A) Argentina

B) Turkey

C) Indonesia

D) Saudi Arabia

Correct Answer: B) Turkey

Explanation: Turkey, along with other nations like Malaysia and Azerbaijan, is seeking membership in the BRICS bloc, which includes major economies from the Global South.