Daily Current Affairs and GK | 29 August 2025

Topic: Banking/Finance

1. Punjab National Bank (PNB) has opened its first branch dedicated to startups in New Delhi.

• The branch is designed to support the government’s Startup India initiative.

• It focuses on encouraging entrepreneurship and fostering innovation.
• The branch offers complete banking services customized for startup needs.
• An MoU was signed between PNB and the Software Technology Parks of India (STPI).
• This agreement aims to provide financial assistance to eligible startups.
• Sudhir Dalal, General Manager at PNB, signed the MoU.
• Subodh Sachan, Director at STPI, was the other signatory.
• STPI will share a list of startups it has incubated, onboarded, or graduated.
• This list will help PNB connect with startups needing financial support.
• The goal is to ease access to the bank’s startup-specific financial products.
• The collaboration is expected to act as a bridge between startups and financial institutions.

Topic: Sports

2. The FIDE World Cup 2025 will be held in Goa.

• On 26 August, the International Chess Federation has announced Goa as the venue for the FIDE World Cup 2025.
• The tournament will take place from October 30 to November 27.
• The knockout tournament will feature 206 players competing for a prize pool of $2 million (over Rs 17.5 crore) and three qualifying spots into the 2026 Candidates Tournament.
• The top 50 seeds will start from the second round in the eight-round knockout format.
• Each match will consist of two classical games, with rapid and blitz tie-breaks if necessary.
• Goa was chosen for its natural beauty and cultural appeal, offering a vibrant experience to players.
• India’s rise as a chess powerhouse strengthened its case for hosting the event.
• It is expected to be attended by representatives from over 90 countries and will be one of the most watched events in the history of chess.

Topic: Important Days

3. National Sports Day 2025: 29 August

• National Sports Day is celebrated annually on 29th August.

• National Sports Day commemorates the birth anniversary of hockey player Major Dhyan Chand.
• The theme of National Sports Day 2025 is “Sport to Promote Peaceful and Inclusive Societies.”
• This day emphasizes the importance of sports and physical activities.
• This day also honors Major Dhyan Chand’s legacy in Indian hockey.
• Major Dhyan Chand had won gold medals in the Olympics in 1928, 1932, and 1936.
• Major Dhyan Chand, born on 29 August, is also known as the "Hockey Wizard."
• This year, the event is being organized by the Fit India Mission in partnership with the Indian sports ecosystem.
• It is being organized as a three-day All India Sports Movement from August 29 to 31.
• On National Sports Day 2019, the government launched the Fit India Movement.

Topic: Summits/Conferences/Meetings

4. Air Marshal Ashutosh Dixit’s Strategic Defence Talks held at CHODs 2025, Thailand.

• Air Marshal Ashutosh Dixit, Chief of Integrated Defence Staff (CISC) of India, held meetings with senior defense officials during the Chiefs of Defence Conference 2025.
• Lt. Gen. Thai Dai Ngoc, Deputy Chief of the General Staff of the Vietnam People’s Army, was among the officials he engaged with.
• The talks were centered on enhancing defense cooperation and advancing maritime collaboration.
• The importance of professional military exchanges was highlighted during the multilateral sessions.
• New areas of partnership, including technology, were also explored in these interactions.
• Bilateral discussions were additionally carried out with Admiral Samuel Paparo, Commander of the US Indo-Pacific Command.
• The annual Defence Chiefs Conference was held in Thailand from August 26 to 28, 2025
• The event focused on maritime security, cyber resilience, counter-terrorism, humanitarian aid, disaster relief, and regional stability in the Indo-Pacific.

Topic: Agriculture and Allied Sector

5. The government extended duty-free cotton imports till December 31, 2025.

• On 28 August, the Finance Ministry announced that duty-free cotton imports have been extended by three months until December 31, 2025.

• On August 18, the government announced that the 11% import duty will be suspended till September 30, when the current cotton marketing season will end.
• The move has been welcomed by the textile sector, which is facing uncertainty due to the 50% U.S. tariff.
• India is expected to close the current cotton season (October 1, 2024 to September 30, 2025) with imports of about 40 lakh bales.
• The arrival of the new crop for the next season (October 1, 2025, to September 30, 2026) is likely to increase after Diwali.
• The government raised the minimum support price for cotton by 8% for the next season.
• The Cotton Corporation of India has prepared to carry out MSP operations in major cotton-growing hubs. It purchased close to 100 lakh bales this season.
• Exporters stated that the extension would provide access to quality cotton at the right prices.
• The US is the second largest cotton supplier to India after Australia.

Topic: Indian Economy

6. India is on track to become the world's second-largest economy on a PPP basis by 2038.

• On 27 August, consultancy EY reported that India is projected to emerge as the world's second largest economy in purchasing power parity (PPP) terms by 2038.

• It supported by strong demographics, robust savings, and a sustainable fiscal path.
• The economy could touch $20.7 trillion in PPP terms by 2030, according to IMF estimates cited in the report.
• The United States, Germany, and Japan are expected to be overtaken by India in PPP rankings by that time.
• China is projected to remain the largest economy, valued at $42.2 trillion in PPP terms by 2030.
• India's comparative advantage lies in its young population—which will have an average age of 28.8 years in 2025—and its strong savings and investment rates.
• Government debt as a share of GDP is anticipated to decline from 81.3% in 2024 to 75.8% in 2030.
• Structural reforms and investments in critical technologies are expected to further drive expansion.
• By 2028, India is also expected to surpass Germany to become the world’s third-largest economy in market exchange rate (MER) terms.
• EY emphasized that India’s growth trajectory aligns with its vision of becoming a developed nation, or Viksit Bharat, by 2047.

Topic: Summits/ Conferences/ Meetings

7. A two-day national conference of the Parliamentary Committee on the Welfare of Scheduled Castes and Scheduled Tribes started on 29 August in Bhubaneswar, Odisha.

• Lok Sabha Speaker Om Birla formally inaugurated the event.
• Key attendees include Rajya Sabha Deputy Chairperson Harivansh Narayan Singh, Union Ministers Jual Oram and Dharmendra Pradhan, along with Odisha’s Chief Minister Mohan Charan Majhi.
• 30 members of the Parliamentary Committee on SC and ST Welfare are attending the sessions.
• Over 240 participants from various parts of India are expected to join the conference.
• The central theme revolves around the contribution of parliamentary and legislative committees to the upliftment and progress of Scheduled Castes and Scheduled Tribes.
• This is the first time the conference is being held outside the national capital.
• Discussions will focus on constitutional protections for Scheduled Tribes and state-level efforts to promote tribal development.
• Odisha will also highlight its cultural heritage through an exhibition and traditional performances featuring local art, crafts, and textiles.

Topic: MoUs/Agreements

8. India and Bhutan have entered into a formal agreement to enhance cooperation in agriculture and related fields.

• The Memorandum of Understanding was signed in Thimphu by India’s Agriculture Secretary Devesh Chaturvedi and Bhutan’s Agriculture Secretary Thinley Namgyel.

• This development marks a key advancement in the strong bilateral relationship between the two countries.
• The pact highlights their mutual dedication to advancing food security, sustainable agricultural practices, and rural well-being.
• The agreement will facilitate joint efforts in agricultural innovation, livestock care and productivity, and research initiatives.
• It also aims to strengthen collaboration in post-harvest technologies, value chain enhancement, and the sharing of technical knowledge and expertise.
• India and Bhutan relationship:
• India is Bhutan's top trading partner and the leading source of investments.
• There has been significant cooperation between the two sides in the area of hydro-power projects.
• The revised Bilateral Agreement on Trade, Commerce and Transit between India and Bhutan came into effect in 2017.

Topic: Biotechnology and Diseases

9. Army Hospital Research and Referral (AHRR) in Delhi has pioneered Robotic Custom Laser Cataract Surgery.

• It is the first government medical facility in India to perform this procedure.
• AHRR is also the second institution in South Asia to achieve this milestone.
• The surgery was carried out using the advanced ALLY Adaptive Cataract Treatment System.
• This system represents a major innovation in ophthalmic technology.
• The hospital's Ophthalmology Department has now entered the field of bladeless, robotic, and computer-assisted cataract surgery.
• The procedure performed was Femto-second Laser Assisted Cataract Surgery (FLACS).
• FLACS is known for delivering high precision and greater surgical efficiency.
• The integration of this technology reflects the Armed Forces' commitment to advanced medical care.
• It ensures world-class, safe, and effective treatment for military personnel and their families.
• The high accuracy of FLACS is especially important in meeting the demands of military healthcare.
• The surgery was performed by Brigadier SK Mishra. The patient was 61 years old.
• Unlike traditional cataract surgery, FLACS uses a femtosecond laser.
• This laser automates key steps in the procedure. These steps include corneal incisions, capsulotomy, and cataract fragmentation.
• The technology achieves precision at the micron level.

Topic: Indian Economy

10. India's industrial output rose by 3.5 percent in July 2025, reaching its highest level in four months.

• This rise was largely caused by a strong rebound in the manufacturing sector.

• The last time such growth was recorded was in March 2025, when industrial production increased by 3.9 percent.
• In comparison, July 2024 had seen a higher growth rate of five percent in industrial output.
• Manufacturing grew by 5.4 percent in July 2025, improving from 3.7 percent in June.
• Electricity production posted a slight increase of 0.6 percent.
• Mining activity continued to weaken, showing a sharp contraction of 7.2 percent.
• Infrastructure and Construction Goods output surged by 11.9 percent year-on-year.
• Consumer durables registered growth of 7.7 percent. Intermediate goods output rose by 5.8 percent over the same period.
• Capital goods production increased by five percent. Consumer non-durables recorded gain of just 0.5 percent.
• Primary goods output dropped by 1.7 percent, indicating a slowdown in this segment.