Current Affairs - August 8, 2025 Current Affairs

Dr. M.S. Swaminathan, renowned as the Father of India’s Green Revolution, was honoured at the Bharat Ratna Dr. M.S. Swaminathan Centenary International Conference, inaugurated by Prime Minister Narendra Modi in New Delhi. Swaminathan’s pioneering work in developing high-yield wheat varieties transformed India from a food-deficient nation to a self-sufficient one within a short span. Inspired by the Bengal famine of 1942–43, his lifelong mission focused on eradicating hunger and empowering farmers. The three-day conference celebrated his vision of an “Evergreen Revolution,” promoting sustainable, science-led agriculture to ensure food security and improve the livelihoods of millions of farmers across India.

AU Small Finance Bank has made history by becoming the first Small Finance Bank in India to receive the Reserve Bank of India’s in-principle approval to transition into a Universal Bank. This marks a significant milestone in its journey from a vehicle financing business to a niche financial institution and now to a full-spectrum banking provider. The upgrade will allow AU to expand its services to include corporate lending, wealth management, forex operations, and broader digital banking solutions. The move reflects AU’s strong governance, financial performance, and compliance standards, setting a precedent for other well-performing SFBs in India.

The Housing Price Index (HPI) for 13 major Indian cities reached 132 in March 2025, reflecting an 8-point increase from 124 in March 2024. This rise indicates a phase of stabilisation in India’s residential real estate market following several quarters of rapid price appreciation. While prices showed no change from February 2025, the annual growth suggests a healthy consolidation period driven by cautious buyer sentiment and supply-side adjustments. The trend is seen as beneficial for long-term market sustainability, supported by factors like recent interest rate cuts, growing incomes, and strong underlying demand fundamentals in urban centres.

India’s Business Confidence Index (BCI) reached 149.4 in April–June 2024–25, marking a notable rise from 139.3 in the previous quarter. This data, sourced from the National Council of Applied Economic Research (NCAER) Business Expectations Survey, is based on four core components assessing various aspects of business sentiment. Over 60% of respondents expressed positive views across all measured areas, reflecting a broad-based improvement in outlook. The increase in the BCI suggests growing optimism in the Indian business environment, likely driven by favourable economic conditions, policy support, and improved market expectations across sectors.

U Myint Swe, who was serving as the acting President of Myanmar since February 2021, passed away at the age of 74 in Nay Pyi Taw, the country’s capital. He had previously been sworn in as Vice President in March 2016 and assumed the acting presidency after the detention of President U Win Myint. Suffering from Parkinson’s Disease and other neurological conditions, he had been on medical leave since July 2024. His death marks a significant moment in Myanmar’s recent political history, as he held the nation’s top leadership role during a turbulent period.

Union Minister Annpurna Devi inaugurated SheLeads II, a two-day workshop organised by the UN Women India Country Office in New Delhi. SheLeads is the flagship capacity-building programme of UN Women, designed to enhance gender equality in political and public leadership. The initiative focuses on equipping women with essential leadership skills, strong networks, and the confidence to assume leadership positions. By inaugurating this event, Annpurna Devi reinforced the government’s support for women’s empowerment, aiming to strengthen female representation and leadership across various sectors in India’s political and public life.

HDFC Capital Advisors partnered with the International Finance Corporation (IFC) to launch the $1 billion H-DREAM Fund, aimed at financing green affordable housing projects in India. IFC, a member of the World Bank Group, has invested $150 million as the anchor, with the remaining $850 million expected from other institutional investors. Managed by HDFC Capital, the fund focuses on promoting sustainable construction practices while addressing India’s housing shortage. By targeting affordable and mid-income housing that meets green building norms, the initiative supports climate resilience, energy efficiency, and urban development in line with the United Nations Sustainable Development Goals.

Kabak Yano, a celebrated mountaineer from Arunachal Pradesh, successfully summited Mount Kilimanjaro, Africa’s highest peak at 5,895 meters, as part of her Seven Summits mission. This achievement adds to her impressive record, which already includes conquering Mount Everest. Yano’s feat highlights the spirit of adventure and determination prevalent in India’s North East, while also advancing the cause of women’s representation in extreme sports. Governor KT Parnaik, who flagged off her expedition, praised her perseverance and courage. Her journey continues as she aims to climb the remaining peaks in the prestigious Seven Summits challenge across all continents.

Punjab has become the first state in India to empanel sign language interpreters, translators, and special educators under the Juvenile Justice Act, 2015. This initiative will also be applied to cases under the POCSO Act, 2012, ensuring better access to justice for children with speech or hearing impairments. By bridging communication gaps, the state aims to make the judicial process more inclusive for differently-abled children. This progressive move reflects Punjab’s commitment to safeguarding the rights of vulnerable groups and fostering a legal environment where every child can effectively communicate and participate in proceedings.

BEML, a leading public sector enterprise, will set up manufacturing facilities for Vande Bharat, Amrit Bharat, and metro rail coaches in Umaria, Raisen district of Madhya Pradesh. This project aligns with both the ‘Make in India’ and ‘Make in Madhya Pradesh’ initiatives, aiming to boost domestic manufacturing capacity and regional economic growth. Chief Minister Mohan Yadav announced the plan, while Defence Minister Rajnath Singh is scheduled to lay the foundation stone. The development is expected to generate employment, enhance technological capabilities, and strengthen India’s position in advanced rail and metro coach production.

The Atal Innovation Mission (AIM) under NITI Aayog has partnered with Bhashini, the Digital India Bhashini Division of MeitY, to boost vernacular innovation across India. This initiative aims to integrate multilingual capabilities into AIM’s grassroots programs, making entrepreneurship and innovation accessible to non-English speakers. Key steps include translating World Intellectual Property Organisation (WIPO) learning resources into multiple Indian languages, extending Bhashini’s tools to Atal Incubation Centres and Atal Community Innovation Centres, and establishing a new Language Inclusive Program for Innovation (LIPI) Centres. By bridging language barriers, this collaboration fosters inclusivity, empowers rural innovators, and promotes equitable participation in India’s innovation ecosystem.