Current Affairs - August 14, 2025 Current Affairs

Nepal has announced free climbing on 97 Himalayan peaks located in Karnali and Sudurpaschim provinces for the next two years. This initiative is aimed at promoting adventure tourism in lesser-known and underdeveloped mountain regions while reducing over-dependence on popular peaks like Everest and Annapurna. The peaks, ranging between 5,970m and 7,132m, will be accessible without climbing fees until 2027. Although the government will forgo immediate permit revenue, the increased influx of climbers is expected to boost local economies through hospitality, transportation, guiding, and other services. This policy not only benefits adventurers but also stimulates inclusive economic growth in remote provinces.

Bank of Baroda has introduced international UPI services via its bob इ Pay app, making cross-border digital payments more accessible for both resident Indians and NRIs. The new features include UPI Global Acceptance, foreign inward remittances, and dedicated UPI access for NRI account holders. Customers can now make payments to merchants abroad, receive money from Singapore in real-time, and NRIs can link their NRE/NRO accounts to use UPI seamlessly. With a daily transaction limit of ₹1,00,000, the initiative strengthens Bank of Baroda’s role in digital banking innovation while aligning with India’s push for global adoption of UPI services.

India signed a memorandum of understanding (MoU) with Zambia to strengthen cooperative trade alliances and expand export opportunities. Announced by Union Home Minister and Cooperation Minister Amit Shah in the Lok Sabha, the pact is part of India’s broader strategy to grow its cooperative export network under the National Cooperative Exports Ltd (NCEL). The agreement will promote cooperative-to-cooperative linkages, enhance market access for Indian products in Zambia, and create opportunities for joint ventures. Alongside Zambia, NCEL also secured trade deals in Senegal and Indonesia. This partnership is expected to deepen South–South cooperation and contribute to India’s export growth.

India and Singapore held the 3rd India-Singapore Ministerial Roundtable (ISMR) in New Delhi, underscoring their Comprehensive Strategic Partnership. The meeting focused on six pillars of cooperation: digitalization, skill development, sustainability, healthcare, advanced manufacturing, and connectivity. With high-level ministerial participation from both sides, the roundtable highlighted Singapore’s role as a key partner in India’s Act East Policy and Indo-Pacific strategy. Singapore is among India’s largest foreign investors and acts as a gateway to ASEAN markets, making it central to regional cooperation. This roundtable reaffirmed mutual commitment to innovation, economic growth, and strategic collaboration in the Indo-Pacific region.

The Cabinet Committee on Economic Affairs has cleared the construction of the Tato-II Hydro Electric Project in Shi Yomi district of Arunachal Pradesh with an outlay of ₹8,146.21 crore. Designed to generate 700 MW of clean energy through four units of 175 MW each, the project is expected to produce 2,738.06 million units annually. It will bring multiple benefits including 12% free power to the state, additional local development funding, employment opportunities, and infrastructure upgrades such as roads, bridges, schools, and hospitals. Strategically, it strengthens renewable energy capacity and integrates Arunachal Pradesh into the national power and economic framework.

Australia announced a major foreign policy decision to formally recognise the State of Palestine at the 80th United Nations General Assembly in September 2025. Prime Minister Anthony Albanese emphasised that this move aims to support the long-pursued two-state solution, help achieve a ceasefire in Gaza, and push for the release of hostages. The recognition will be conditional on governance reforms by the Palestinian Authority, including elections, demilitarisation, and ensuring Hamas plays no role in governance. With over 138 UN member states already recognising Palestine, Australia’s step adds to the growing global momentum pressing for peace in the Middle East.

India, through the Indian Olympic Association (IOA), has officially approved a bid to host the 2030 Commonwealth Games. This move is strategically significant as it would bring the event back to India exactly 20 years after New Delhi hosted the Games in 2010. Hosting in 2030 would highlight India’s ability to organise large-scale global sporting events, boost sports infrastructure, and enhance youth participation in athletics. Additionally, it would serve as an important step in India’s broader vision of sports diplomacy, promoting international cooperation, tourism, and regional development while reaffirming its place on the global sporting stage.

The government has announced the establishment of two new Defence Industrial Corridors in Maharashtra and Assam, aimed at strengthening India’s Atmanirbhar Bharat initiative in the defence sector. These corridors will enhance indigenous manufacturing, reduce import dependency, and create significant employment opportunities in advanced defence production. Building on the success of the existing corridors in Uttar Pradesh and Tamil Nadu, the new ones are expected to foster collaboration between public sector units, private firms, startups, and academia. Maharashtra’s clusters will leverage its strong industrial base, while Assam’s corridor will promote regional growth and integration into national defence manufacturing.

India sent five metric tonnes of cowpea (black-eyed pea) seeds to Fiji as part of its Act East Policy, reinforcing its commitment to supporting Indo-Pacific partners. The aid was handed over in Sabeto, Nadi, through the High Commission of India in Suva, to strengthen agricultural resilience, food security, and farmer empowerment in Fiji. Cowpea seeds are drought-tolerant and protein-rich, making them highly beneficial for adapting to climate challenges and enhancing nutrition. This initiative not only supports Fiji’s agricultural sector but also deepens bilateral cooperation, reflecting India’s role as a reliable partner in humanitarian and developmental assistance across the region.

Karnataka witnessed a massive spike in GST evasion during FY25, with cases surging to ₹39,577 crore across 1,254 instances, alongside nine arrests. This represents a fivefold jump compared to the previous year’s evasion figure of ₹7,202 crore. According to Finance Minister Nirmala Sitharaman’s report to the Lok Sabha, enhanced enforcement, improved analytics, and better data-sharing mechanisms contributed to this rise in detection. Voluntary tax payments amounted to ₹1,623 crore, reflecting partial compliance. Importantly, the government clarified that central GST authorities had not issued notices solely based on UPI transactions, addressing concerns raised by small traders in Bengaluru.