Daily Current Affairs – 25-07-2025
Economy News
Foreign voting rights cap may stay at 10% in state-run banks
The government is looking to maintain a 10% cap on foreign voting rights in Public Sector Banks (PSBs) to prevent investors from influencing their functioning. Top six PSBs had foreign institutional holdings between 4.55% to 11.38% as of June 30. Individual investors, mutual funds, and corporate bodies hold less than 10% shareholding in PSBs. In private banks, promoter voting rights are capped at 26%, and financial institutions can hold a maximum 15% stake. Promoters in private banks are expected to reduce their stake to 26% in 15 years, while shareholding for individuals and non-financial institutions is capped at 10%. RBI is reviewing norms on voting rights and shareholding limits in private banks to attract investors. A cap on voting rights is essential for PSBs to carry out their social and welfare initiatives. Suggestions have been made to make voting rights proportionate to shareholding, but this hasn’t been discussed yet. PSBs need capital from non-government sources as the government focuses on market-based reforms. Increasing the foreign investment limit for PSBs effectively addresses this need. A phased approach to increasing voting rights is suggested as it improves governance quality.
Personalities, Awards and Events
Ajay Seth appointed IRDAI chairperson
Ajay Seth, former finance and economic affairs secretary, has been appointed as the chairperson of the Insurance Regulatory and Development Authority of India (IRDAI). His appointment is for a period of three years or until he reaches 65 years, whichever is earlier. Seth, a 1987-batch IAS officer, retired as economic affairs secretary in June this year after a four-year stint. He served as DEA secretary since 2021 and briefly held additional charge as revenue secretary earlier this year. Irdai oversees the orderly development of the insurance sector, protects policyholders’ interests, prevents mis-selling, builds information systems, and provides long-term funds for infrastructure. The regulator is also tasked with implementing the government’s programme of insurance for all by 2047. Seth’s appointment comes as Irdai is addressing cyber threats to financial markets and strengthening regulations against fraud and mis-selling.
States’ News
New ‘Moon Spark’ Scheme for 6-9 Grade Students
A new scheme is to be implemented to help school students learn about computer science.
In line with advancing science and technology, the ‘Moon Spark’ (Tamil Nadu School Programme for Artificial Intelligence, Robotics and Knowledge of Online Tools) scheme has been introduced for students.
A curriculum has been prepared to teach students fundamental computer science, artificial intelligence skills, and applied technological science using these, and teachers will be trained.
Through this scheme, the curriculum has been developed and textbooks designed based on four core subjects: computer science, educational online tools, coding, robotics, and artificial intelligence.
The Minister stated that this scheme will be implemented for students in grades 6-9 and will serve as a guiding project for India.
At the event, Minister Anbil Mahesh Poyyamozhi released the textbooks prepared under the ‘THIRAN’ (Targeted Help for Improving Remediation & Academic Nurturing) initiative and the Moon Spark curriculum books.
National News
The PoSH Act (2013)
Purpose: This law (made in 2013) helps keep women safe from sexual harassment at work. What it covers: It includes unwanted touching, sexual jokes, demands for favors, or showing bad pictures. Who it protects: All women in any Indian workplace – government, private, or NGOs. This includes staff, interns, and even visitors. Company Rules: Companies with 10+ employees must have a special committee (ICC) to handle complaints. Smaller companies or complaints against the owner go to a local committee (LCC). Employer’s Duty: Companies must prevent harassment, keep the workplace safe, and teach staff about this law. How to Complain: You need to report it within 3 months of the incident. Consequences: If companies don’t follow the law, they can be fined or even lose their business license.
The Vishaka Case (1997) The Turning Point: This changed because of a big court case in 1997 (Vishaka v. State of Rajasthan), where a social worker faced a severe incident.
International News
Preah Vihear Temple - Thailand and Cambodia - Border Dispute
The border dispute between Thailand and Cambodia, centered on the Preah Vihear Temple area, has been ongoing for many years.
The temple, built in the 11th century, was awarded to Cambodia by the International Court of Justice in 1962.
However, a 4.6 sq km area along the border remains disputed.
Conflicts erupted in the area due to this dispute in 2008 and 2011, resulting in casualties.
When UNESCO declared the Preah Vihear Temple a World Heritage Site in 2008, Thailand objected.
Due to this border issue, both countries have amassed troops on the border.
Although both countries have attempted to resolve the issue through negotiations, domestic politics and nationalist sentiments have complicated the matter.
Relations improved slightly after the new Prime Minister Hun Manet took office in 2023.
The ASEAN organization has urged both countries to resume talks.
Revocation of Birthright Citizenship Illegal - US Appeals Court
A US appeals court has ruled that the American President’s order to revoke birthright citizenship is unconstitutional.
This information was stated in the ruling by Judges Mike Kael Hawkins and Ronald Goul of the 9th Circuit Court of Appeals.
The 14th Amendment of the US Constitution grants citizenship to everyone born in the United States.
Seattle District Judge John C. Cougan had previously blocked the order to revoke birthright citizenship; the appeals court has now upheld that block.
This injunction was issued following a lawsuit filed by states including Washington, Arizona, Illinois, and Oregon.
India-Britain Free Trade Agreement
A free trade agreement aimed at enhancing services between India and Britain has been signed.
This historically significant trade agreement between the two nations occurred during Prime Minister Narendra Modi’s visit to Britain.
Indian Minister of Commerce and Industry Piyush Goyal and British Trade Minister Kemi Badenoch signed this agreement.
Union Minister of Commerce and Industry Piyush Goyal stated that India will gain trade opportunities worth Rs. 2 lakh crore.
99% of Indian exports will receive tariff exemptions in British markets.[3] This will create trade opportunities worth up to Rs. 1.9 crore crore (23 billion USD) for India.
Approximately 95% of Indian agricultural products will be exported without customs duty.
India has agreed to reduce the duty on imported whisky from Britain from 150% to 30%.
This agreement is expected to elevate relations between the two countries to a new high within the next 10 years.
Both nations have pledged to fully implement free trade by 2035.
A British aircraft manufacturing facility is to be established in Ahmedabad, Gujarat.