August 15 Most Important News and MCQs (Current Affairs)

1. Independence Day Recognition

Key Insight: India celebrates its 79th Independence Day on 15th August 2025. The Prime Minister of India, Narendra Modi, will lead the official celebration from the Red Fort.

2. Recent Government Policies and Economic Updates

State and Union Territory Borrowings

For July–September 2025, Indian states and union territories, as per RBI, are expected to borrow ₹2.86 lakh crore.

Veterinary College Approval

Under Kamdhenu University, the state of Gujarat received approval from the central government for a new veterinary college.

Textile Sector Developments

Tamil Nadu has received ₹1,894 crore for the PM MITRA textile park from the Ministry of Textiles.

Stock Market Investors

Maharashtra, Uttar Pradesh, and Gujarat lead in the number of registered stock market investors, with Gujarat now reporting over 10 million (1 crore) investors (as per National Stock Exchange).

Storage Capacity under NABARD

Punjab has the highest storage capacity under the NABARD Warehouse Infrastructure Fund scheme as of March 2024.

Upgradation of State Drug Regulatory Systems

The Ministry of Health & Family Welfare has launched the “Shreshtha Index” to strengthen state drug regulatory systems.

3. Small Savings Schemes – Interest Rates (July–September 2025)

Kisan Vikas Patra: 7.5%
Senior Citizen Savings Scheme: 8.2%
National Savings Certificate (NSC): 7.7%
Sukanya Samriddhi Yojana: 8.2% (confirmed)

Ministry Decisions

The Ministry of Finance has retained the same interest rates for small savings schemes for this quarter.

4. Recent MoUs, Appointments & Initiatives

MoUs & Strategic Partnerships

Astrofeil Aerospace signed an agreement with the Department of Space’s nodal agency (IN-SPACe) to develop a reusable rocket engine using ISRO systems.
Hindustan Copper and Coal India Ltd. have entered into a strategic partnership for working in the critical minerals sector, including copper.
The National Small Industries Corporation (NSIC) has partnered with five banks (Axis Bank, Dhanlaxmi Bank, Karnataka Bank, AU SFB, IndusInd Bank) under the MSME Credit Facilitation Program to provide easier credit access for MSMEs.

Appointments

Abhijit Kishore has been appointed CEO of Vodafone Idea for a three-year term, succeeding Akshay Mundra.
Madhuri Dixit has been named Brand Ambassador for Odisha’s handloom industry by the government.

5. RBI and Banking Updates

Policy Reviews & Structures

CPI forecast for FY 2025-26: 3.1% (previously 3.7%)
GDP forecast for FY 2025-26: 6.5%

Note:

RBI operates four currency printing presses: Mysuru, Salboni (under RBI), Devas, and Nashik (under Government of India).
RBI key subsidiaries: DICGC (Deposit Insurance and Credit Guarantee Corporation), RBI Note Mudran Pvt Ltd, IFTAS (Indian Financial Technology Allied Services), ReBIT, and RBI Innovation Hub.

Executive Appointments

K.S.V. Ramachandran has become a new Executive Director at RBI.

New Banking Products & Ratings

ICICI Bank has reduced the minimum monthly average balance for new savings accounts to ₹500.
Bank of Baroda has launched the “Flexi SDP” (Systematic Deposit Plan) for recurring deposits.
HDFC Bank and PhonePe have teamed up to launch a co-branded credit card.
Standard Chartered Bank has been appointed as the settlement bank for the Foreign Currency Settlement System (FCSS) at GIFT City, Gujarat.
Karur Vysya Bank and Chola MS General Insurance have partnered on a rural-focused insurance product.
Masreq (UAE-based bank) has received in-principle approval to open a branch at GIFT City.

Digital Innovations

Bank of Baroda’s “Bob e-Pay” application has rolled out international UPI features to facilitate cross-border transactions for residents and NRIs.
IndusInd Bank has upgraded its Smart Wealth application to support nine regional languages.
SLIC (Slice), a fintech company, has launched India’s first UPI-powered bank branch and ATM in Bengaluru.

6. Telecom and Digital Initiatives

TRAI (Telecom Regulatory Authority of India) has released India’s first “Manual for Rating of Properties for Digital Connectivity,” which will award star ratings to buildings based on digital connectivity standards. Over 80% of India’s mobile data is consumed indoors. Building design and materials often impact 4G/5G signal strength.

7. Health and Technology Partnerships

National Health Authority (NHA) and C-DAC have launched “e-Sushrut @ Clinic,” a hospital management information system for small clinics to digitize patient records, billing, and pharmacy operations under the Ayushman Bharat Digital Mission.
AIM (Atal Innovation Mission, NITI Aayog) and the Bhashini Division (Digital India) have partnered to promote vernacular innovation and break language barriers. The first major task will be translating the World Intellectual Property Organization (WIPO) Academy’s learning content into various Indian languages using translation tools, granting innovators tool-testing platforms for multi-language product creation.

8. Defense and Infrastructure Highlights

The Indian Navy has received “Ichchhak,” the third of four survey vessels designed by the Warship Design Bureau and built by Garden Reach Shipbuilders & Engineers Ltd., Kolkata. This vessel is the first of its kind to provide accommodation for women officers and sailors.

9. Sports and National Events

Khelo India Water Sports Festival: The mascot, the Himalayan Kingfisher, was unveiled in Srinagar for the first-ever Khelo India Water Sports Festival, organized by the Jammu & Kashmir Sports Council, the Sports Authority of India, and the Ministry of Youth Affairs.
World Organ Donation Day: Observed on 13th August every year to raise awareness about organ donation and its life-saving potential.

10. Financial Inclusion and Social Schemes

State Bank of India (SBI) has announced a collateral-free personal loan scheme (up to ₹4 lakhs, 10.5% interest, no processing fees) for Agniveer recruits in the armed forces under the Agnipath recruitment program. The loan is available to those with an SBI salary account.

11. Inflation and Economic Indices

Wholesale Price Index (WPI): For July, WPI inflation dropped into negative territory at -0.6%, mainly due to declines in food prices and mineral oil prices. The index basket contains 697 articles: primary articles, fuel & power, and manufactured products (further details to be researched as a learning exercise).
WPI Data Release: Data is published by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.

12. Government Recognition and Observances

Independence Day: The day recognizes the sacrifices made by many to achieve India’s freedom. Campaigns such as “Har Ghar Tiranga” (tricolor at every home) are run to promote patriotism.

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