Banking Awareness of 7 and 8 February 2025

Topic: Summits/Conferences/Meetings

1. Council for Leather Exports will organize DILEX 2025 on 20-21 Feb in New Delhi.

• The Delhi International Leather Expo (DILEX) 2025 is a B2B event designed to provide a platform to manufacturers and exporters to showcase their latest collections, innovations, and capabilities to international buyers who are looking for viable sourcing options.
• It aims to boost exports, create employment, and strengthen India's presence in global markets in sync with the 'Make in India' and 'Atmanirbhar Bharat' initiatives.
• The aim of the council is to reach a target of $47 billion by 2030, with a special focus on footwear and leather exports.
• The Union Budget 2025 has given a much-needed boost to the leather and footwear sector by enhancing credit access, rationalizing levies, and retaining the key policy framework.
• This year, the Leather Expo is expected to have over 200 exhibitors.
• The government has implemented several reforms to boost trade and industry.
• Meeting a major demand of the industry, the basic customs duty (BCD) on wet blue leather has been reduced from 10% to zero from February 2, 2025.

Topic: Agriculture

2. Ten additional commodities and their tradable parameters have been added to the e-NAM platform to increase agricultural trade.

• These new commodities include wheat flour, dragon fruit, besan, and dried tulsi leaves.
• The aim of initiative is to increase the coverage of agricultural commodities.
• Other aims of this initiative are to offer more opportunities for farmers and traders to benefit from the digital trading platform.
• Additional tradable parameters are in line with the government’s continuous attempts to modernize the agricultural sector.
• Now, two hundred thirty-one commodities are listed on the e-NAM platform after addition of new commodities.

Topic: Banking System

3. Public Sector Banks reported an increase of 31.3% year over year in net profit to Rs. 1,29,426 crore in first three quarters of current FY 2024–2025.

• Public Sector Banks have reported an overall operational profit of Rs. 2,20,243 crore for the same time period.
• Total net non-performing assets outstanding is Rs. 61,252 crore. NPA ratio has declined to a 0.59%.
• Deposits increased by 9.8% year over year. Public Sector Banks overall business grew by 11.0%.
• Total aggregate business is worth Rs. 242.27 lakh crore.
• The credit growth was at 12.4%. Retail credit grew at 16.6%. Agriculture credit grew at 12.9%. MSMEs credit grew at 12.5%.
• Aggregate Capital to Risk-Weighted Assets Ratio has been reported at 14.83%, higher than the required 11.5%.

Topic: Miscellaneous

4. NSDC International Academy inaugurated at Greater Noida, UP.

• Jayant Chaudhary, Minister of State (I/C), inaugurated the NSDC International Academy at Greater Noida, Uttar Pradesh.
• This academy has been designed to provide world-class skill development and training programs.
• NSDC International Academy is a landmark initiative to fulfill the gap between Indian youth and global employment opportunities.
• This academy will act as a center of excellence that will offer specialized training programs aligned with the skill demands of countries like Germany, Japan, and Israel.
• The central government aims to empower individuals with the skills needed to thrive in today’s competitive global workforce.
• The academy specializes in internationally recognized language certifications.
• NSDC International Academy in Greater Noida is a flagship initiative of the National Skill Development Corporation (NSDC) under the Ministry of Skill Development and Entrepreneurship (MSDE), Government of India.
• This facility has modern classrooms equipped with interactive technology and advanced labs focused on soft skills and language learning.

Topic: Banking/Financial/Govt Schemes

5. 1,600 centres will be developed by the government to train 'good drivers' and reduce accidents.

• A new policy has been issued by the Ministry of Road Transport and Highways (MoRTH) to set up driving training institutes across the country, noting that a significant number of road accidents occur due to driver faults.
• Under the scheme, Rs 4,500 crore in assistance will be provided by the ministry in a phased manner to set up 1,600 institutes across all 36 states and Union Territories (UTs).
• The new policy provides more incentives to developers and also changes the population criteria along with the allotment of more number of such centers.
• At present, there are a total of 28 functional driving training institutes, established under the MoRTH scheme.
• Under this scheme, three different types of institutes, such as Driving Training and Research Institutes (ITDRs), Regional Driving Training Centres (RDTCs), and Driving Training Centres (DTCs), will be developed.
• Out of the total allocation of 1,600 institutions, 26 ITDRs, 134 RDTCs, and 1,427 DTCs will be established.
• These centers will provide facilities such as automated driving test tracks, driving laboratories and workshops, driving training simulators, and modern equipment like the Innovative Driving Test System (IDTS), among other initiatives to train drivers.
• It has been calculated by the ministry that there is a lack of 22 lakh skilled drivers in India, and in around 35,000 death cases, drivers were found to be driving without a valid license.

Topic: RBI

6. RBI cut Repo rate by 25 bps to 6.25% after nearly five years.

• Almost after five years, the policy repo rate has been reduced by 25 basis points, from 6.50% to 6.25%, by the Reserve Bank of India (RBI).
• The announcement was made by the RBI  Governor Sanjay Malhotra on 7 February in Mumbai, following a three-day meeting of the MPC.
• As a result, the Standing Deposit Facility (SDF) rate will be fixed at 6.00%, while the Marginal Standing Facility (MSF) rate and the Bank Rate will both remain at 6.50%.
• A ‘neutral’ stance has also been unanimously decided to be maintained by the MPC, with a clear focus on aligning inflation with the target while supporting growth.
• In May 2020, the last rate cut was by 25 basis points to 6.25%.
• The most recent revision was in February 2023, when the policy rate was raised by 25 basis points to 6.50%.
• Mr Malhotra said inflation has moderated and is expected to decline further in 2025-26, gradually coming in line with the target.
• Real GDP estimates have been revised from 6.9% to 6.7% for the next financial year by the bank.
• CPI inflation for the current financial year has been projected at 4.8%, with Q4 at 4.4%, by the RBI.
• Assuming a normal monsoon, CPI inflation for the financial year 2025–26 has been projected at 4.2%.

Topic: Miscellaneous

7. Argentina announced to quit from the World Health Organization (WHO).

• Argentina announced it will withdraw from the World Health Organization (WHO).
• Argentina's libertarian President Milei instructed Gerardo Werthein (foreign minister) to withdraw Argentina’s participation in the World Health Organization.
• He took this decision due to WHO’s management of health issues, particularly its handling of the COVID-19 pandemic.
• He also highlighted the WHO’s perceived lack of independence from the political influence of other countries.
• Milei declared the WHO a harmful organization.
• The United States is by far the largest contributor to the WHO. It provided around $950 million (£760 million) funding to WHO in 2024.
• Argentina’s annual contribution to WHO is around $8 million

Topic: Banking/Financial/Govt Schemes

8. Rs 8,800 crore has been approved by the Union Cabinet to boost the Skill India Programme.

• On 7 February, the continuation and restructuring of the ‘Skill India Programme (SIP)’ till 2026, with an outlay of Rs 8,800 crore for the period from 2022-23 to 2025-26, has been approved by the Union Cabinet.
• The government has combined three components—Pradhan Mantri Kaushal Vikas Yojana 4.0 (PMKVY 4.0), Pradhan Mantri National Apprenticeship Promotion Scheme (PM-NAPS), and the Jan Shikshan Sansthan (JSS) scheme—under the composite central sector scheme, the Skill India Programme (SIP).
• The government has launched these initiatives to provide structured skill development, on-the-job training (OJT), and community-based learning, ensuring that both urban and rural populations, including marginalized communities, have access to high-quality vocational education.
• The government will introduce over 400 new courses on AI, 5G technology, cybersecurity, green hydrogen, and drone technology under the Rs 6,000 crore PMKVY 4.0 scheme to keep pace with evolving industry demands and the advent of new-age technologies.
• Apart from this, a total outlay of Rs 1,958 crore has been allocated for the NAPS to support a seamless transition from education to work, ensuring that industry-specific skills are gained by apprentices through real-world exposure.
• Under this, 25% of the stipend, up to Rs 1,500 per month, will be provided to an apprentice aged between 14 and 35 years through direct benefit transfer (DBT) by the government.
• An outlay of Rs 858 crore has been allocated for the community-centric skilling initiative, Jan Shikshan Sansthan (JSS), which places special emphasis on women, rural youth, and economically disadvantaged groups aged between 15 and 45 years.

Topic: Miscellaneous

9. Surajkund International Crafts Mela 2025 started in Faridabad, Haryana.

• This is the 38th edition of the Surajkund International Crafts Mela that kicked off on 7th February in Faridabad and will continue till 23rd February.
• This event will showcase regional and international crafts, handlooms, traditions, and a variety of multi-cuisine food.
• This year, the fair is being celebrated as ‘Shilp Mahakumbh,’ inspired by the Maha Kumbh Mela 2025.
• An MoU has been signed between DMRC and Haryana Tourism Corporation for this event.
• The Surajkund International Crafts Mela is being organized in partnership with the union ministries of tourism, textiles, culture, and external affairs.
• For the first time, two states, Odisha and Madhya Pradesh, have been designated as theme states to give the fair a ‘Crafts Maha Kumbh’ identity.
• The event will have more than 1,000 stalls and a record 648 artisans from 42 countries will participate in this event.
• The BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) countries have been included as partner countries.