Daily GK Update- 24th July, 2025

 

NATIONAL UPDATES:

 

1. LIC Disburses ₹115.13 Crore Under Bima Sakhi Scheme in FY 2025–26: The Bima Sakhi – Mahila Career Agent (MCA) Scheme was launched by the Government of India on 9th December 2024; in FY 2024–25, LIC disbursed ₹62.36 crore as stipends under the scheme.For FY 2025–26, LIC allocated a budget of ₹520 crore, out of which ₹115.13 crore has been paid to Bima Sakhis till 14th July 2025; currently, there are 2,05,896 Bima Sakhis across the country.LIC provides a monthly stipend for the first 3 years, ranging from ₹7000 in the 1st year to ₹5000 in the 3rd year, along with commission, subject to performance parameters.Graduate Bima Sakhis who complete 5 years of service can apply for the post of Apprentice Development Officer (ADO) in LIC, based on eligibility and performance.

 

2. NUCFDC and IIA India Sign MoU to Strengthen Audit and Governance in Urban Cooperative Banks: The National Urban Cooperative Finance and Development Corporation Ltd. (NUCFDC) and Institute of Internal Auditors India (IIA India) have signed an MoU to strengthen audit, governance, and risk management frameworks in Urban Cooperative Banks (UCBs).The collaboration will focus on adopting international audit standards, improving internal control systems, and enhancing the professional capabilities of internal auditors and senior management in UCBs.Through this partnership, UCBs will gain access to global resources, including audit standards, ESG and AI practices, training modules, webinars, and tools like “Internal Auditor” magazine and “Tone at the Top” briefings to improve institutional resilience and depositor trust.

 

3. PhonePe Partners with SBI Card to Launch PURPLE and SELECT BLACK Co-Branded Credit Cards: PhonePe, in partnership with SBI Card, has launched two co-branded credit cards — PhonePe SBI Card PURPLE and PhonePe SBI Card SELECT BLACK — issued on RuPay and Visa networks, aiming to expand formal credit access and offer rewards on everyday spending.The SELECT BLACK card offers up to 10% value back on PhonePe and Pincode app spends and comes with premium benefits like Priority Pass membership, while the PURPLE card offers up to 3% value back and includes basic rewards and benefits.Both cards come with welcome e-gift vouchers (₹1,500 for SELECT BLACK and ₹500 for PURPLE), annual travel vouchers, fuel surcharge waivers, and complimentary domestic lounge access, with RuPay cards also being UPI-linkable for seamless merchant payments.

 

4. Ashok Chaudhary Elected as Chairman of GCMMF: Dairy cooperative leader Ashok Chaudhary was elected unopposed as the chairman of Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets milk and dairy products under the brand “Amul”.Gordhan Dhameliya, Chairman of Rajkot District Cooperative Milk Producers’ Union Ltd, has been elected as the new Vice-Chairman of GCMMF.

 

5. Sandiip Bharadwaj Appointed as New MD & CEO of Paytm Money: Paytm Money appointed Sandiip Bharadwaj as its new Managing Director and CEO, succeeding Rakesh Singh, who will take up a new role within the Paytm group.Prior to joining Paytm Money, Bharadwaj was the Chief Operating and Digital Officer at HDFC Securities, where he led digital strategy, product innovation, marketing, and customer experience.Paytm Money is a part of the Paytm Group, founded by Vijay Shekhar Sharma.

 

6. 24 July – National Thermal Engineer Day: National Thermal Engineer Day is observed on 24th July every year to recognise and celebrate the important contributions of thermal engineers in various industries, particularly in electronics, power generation, manufacturing, and automotive sectors.The day honors the hard work and innovation of thermal engineers, who design and manage systems that deal with heat transfer and thermal management — essential for the efficiency, safety, and durability of modern electronic devices and industrial systems.National Thermal Engineer Day was first established in 2014 by Advanced Thermal Solutions Inc. (ATS), a company known for designing thermal management solutions.

 

7. 24 July – National Refreshment Day: National Refreshment Day is celebrated annually on the fourth Thursday of July, and in 2025, it falls on 24 July. This day honours the joy of refreshing beverages and relaxing moments, especially during the peak summer heat.The day celebrates the simple pleasure of enjoying a refreshing drink, whether it’s a cold soda, lemonade, iced tea, fruit juice, or a chilled mocktail.It also encourages people to take a break, unwind, and enjoy moments of relaxation with friends, family, or co-workers.

 

INTERNATIONAL UPDATES:

 

1. Indian Cities Need $2.4 Trillion by 2050 to Combat Climate Risks: World Bank Report: Indian cities are becoming more vulnerable to floods, heatwaves, and other climate-related risks, requiring over USD 2.4 trillion in investments by 2050 to develop resilient and low-carbon infrastructure, as per a World Bank report.Annual economic losses from rain-related flooding are currently around USD 4 billion and could rise to USD 5 billion by 2030 and between USD 14 to 30 billion by 2070 if no corrective measures are taken.The report, prepared with the Ministry of Housing and Urban Affairs, highlights that cities will remain central to economic growth, with 70% of new jobs projected to come from urban areas by 2030.

 

2. India and Nepal Sign MoUs for 5 High-Impact Development Projects Worth NRs. 390 Million: The Embassy of India in Kathmandu, along with Nepal’s Ministry of Federal Affairs and General Administration, signed MoUs for 5 High Impact Community Development Projects (HICDPs) in education and health sectors under Indian grant assistance, with a total estimated cost of NRs. 390 million.The five projects include construction of school buildings and a hospital in Dhanusha, Parsa, Achham, Bara, and Manang districts, and will be implemented by local authorities including municipalities and rural municipalities of Nepal.These projects aim to enhance education and healthcare infrastructure at the grassroots level, benefiting local communities with improved access to essential services.Since 2003, India has undertaken 579 HICDPs in Nepal, out of which 496 have been completed, covering sectors such as health, education, sanitation, connectivity, and drinking water across all 7 provinces.

 

3. U.S. to Withdraw from UNESCO Again by End of 2026: The United States has decided to withdraw from UNESCO for the third time, citing what it calls the agency’s anti-Israel bias and support for “woke, divisive” cultural policies.The decision, announced under former President Donald Trump’s leadership, will take effect at the end of December 2026, just two years after the U.S. rejoined during the Biden administration.The U.S. had previously exited UNESCO in 1984 under the Reagan administration and again in 2017 under Trump, mainly over issues of mismanagement, bias, and Palestine’s inclusion as a member state.

 

OTHER UPDATES:

DEFENCE

 

1. Brazil Joins South Africa’s Genocide Case Against Israel: Brazil is preparing to formally join South Africa’s case at the International Court of Justice (ICJ) accusing Israel of genocide in Gaza. The case, filed in 2023, alleges that Israel’s military actions extend beyond targeting Hamas militants and involve attacks on civilians and civilian infrastructure. Brazil’s move reflects growing international concern over alleged violations of international law in the conflict. South Africa filed a lawsuit at the ICJ under the 1948 Genocide Convention. It claims Israel’s military strikes in Gaza violate its obligations by targeting civilian areas such as schools, hospitals, and shelters. The case argues that these actions constitute acts of genocide against Palestinians. Israel denies these allegations, stating its operations focus solely on Hamas militants.

 

2. Indigenous Pollution Control Vessel Launched for Indian Coast Guard: The Indian Coast Guard (ICG) recently took step in enhancing its maritime environmental response capabilities with the launch of ‘Samudra Prachet’. This is the second and final Pollution Control Vessel (PCV) built indigenously by Goa Shipyard Ltd (GSL). The vessel was launched on 23 July 2025 in Vasco, Goa, marking a milestone in India’s push for self-reliance in defence production and maritime security. ‘Samudra Prachet’ features 72% indigenous content, reflecting a strong emphasis on domestic manufacturing. This project has boosted national capability, generated employment, and enhanced skills by involving local industries and Micro, Small and Medium Enterprises (MSMEs). The vessel is part of India’s broader vision of Aatmanirbhar Bharat, aiming to reduce dependence on foreign suppliers in critical defence sectors.

 

SCIENCE AND TECHNOLOGY

 

1. Maruti Suzuki Partners with DPIIT to Support Tech-Driven Startups in Auto and Mobility Sector: Maruti Suzuki India has partnered with the Department for Promotion of Industry and Internal Trade (DPIIT) to support DPIIT-recognised startups in developing technology-driven solutions for automobile manufacturing and mobility.Startups under the ‘Startup India’ initiative will get the opportunity to participate in Maruti Suzuki’s innovation programmes, aiming to drive innovation in the auto sector.Selected startups will receive expert mentorship, industry insights, and access to Maruti Suzuki’s infrastructure and network to validate and scale their solutions effectively.

 

2. New Wart Sea Slug Species Discovered in Indonesia: Recent research has led to the discovery and formal description of two new wart sea slug species in the waters off North Sulawesi, Indonesia. These species, named Phyllidia ovata and Phyllidia fontjei, enrich the known marine biodiversity of the Indo-Pacific region. The findings show the importance of citizen science and international collaboration in uncovering hidden species. Five women scientists from Germany, Indonesia, and Wales identified these species. Phyllidia ovata was recognised after 23 years of underwater photography records across Indonesia, Japan, Taiwan, the Philippines, and Australia. Phyllidia fontjei, smaller and harder to find, was documented mainly in Indonesia, Malaysia, and the Andaman Sea. Both species belong to the Phyllidiidae family, known for their bright colours and chemical defences derived from sponge prey.

 

BANKING AND FINANCE

 

1. ADB Lowers India’s FY26 GDP Growth Forecast to 6.5% Citing US Tariffs and Policy Uncertainty: The Asian Development Bank (ADB) has revised India’s GDP growth forecast for FY26 down to 6.5% from the earlier 6.7% due to the impact of US tariffs, global slowdown, and policy uncertainty affecting exports and investments.Despite the downgrade, India remains one of the fastest-growing major economies, with strong domestic consumption supported by a revival in rural demand helping maintain economic momentum.For FY27, ADB lowered the GDP growth forecast to 6.7% from 6.8%, citing policy uncertainty, but expects improvement due to rising investments, supportive monetary easing, and favorable financial conditions; meanwhile, World Bank maintained its FY26 projection at 6.3%.

 

2. Crisil Projects 6.5% GDP Growth for FY26: Crisil has projected India’s GDP to grow at 6.5% in FY26, supported by rising domestic consumption, above-normal monsoon, income tax relief, and expected rate cuts by the RBI Monetary Policy Committee.The report identifies US tariff-related global uncertainty as the top risk to India’s growth, but emphasises a positive near-term outlook due to improving macroeconomic indicators.Consumer Price Index (CPI) inflation fell to 2.1% in June 2025 — the lowest in 77 months — and is expected to average 4% in FY26, down from 4.6% in FY25, aided by falling food and global commodity prices.

 

3. Equitas Small Finance Bank Launches FCNR (B) Deposit and Explorer Savings Account for NRIs and Seafarers: Equitas Small Finance Bank has launched two new offerings for NRIs and seafarers: the FCNR (B) Deposit and the Equitas Explorer Savings Account, aimed at catering to their financial needs with attractive features.The FCNR (B) Deposit offers tax-free interest income, competitive interest rates, and full repatriation of principal and interest for Non-Resident Indians.The Equitas Explorer Savings Account, available in NRE and NRO variants, includes benefits such as an International VISA Platinum Debit Card, ₹1 crore air accident insurance, ₹2 lakh home insurance, and mandate facility for resident relatives in India.

 

4. Shriram Life Partners with ESAF Small Finance Bank to Boost Insurance Access for Rural and Low-Income Families: Shriram Life Insurance Company (SLIC) has partnered with ESAF Small Finance Bank to enhance the distribution of life insurance products, particularly targeting first-time buyers, low-income families, and rural households.Under the partnership, ESAF Bank will act as a corporate agent for SLIC, offering insurance solutions through its branch network across India.