Monthly Current Affair GK Digest: July 2025

International News

Forbes Releases America’s Richest Immigrants 2025 list: India Leads

• India emerged as the leading country of origin, reflecting its growing presence in global business leadership.
• One of the standout names is Jay Chaudhry, founder of cybersecurity firm Zscaler, who ranked 8th on the list with a net worth of $17.9 billion.
• His journey from rural Himachal Pradesh to Silicon Valley epitomizes the “self-made” success story.
• In total, 12 Indian-origin billionaires were featured — up from 7 in 2022 — including high-profile names like Sundar Pichai, Satya Nadella, and Nikesh Arora.
• The majority, 93%, built their wealth independently, especially in tech and finance sectors.

Nvidia Becomes World’s First Company to Hit USD 4 Trillion Market Value

• This milestone was driven by:
• A 2.5% surge in stock price to $164, fueled by booming demand for AI chips and cloud infrastructure
• Nvidia’s dominance in AI hardware, powering platforms like ChatGPT and enterprise data centers
• A 74% rebound from April lows, amid optimism over U.S. trade deals and easing global tensions
• Nvidia now holds the largest weight (7.3%) on the S&P 500 index, ahead of Apple (7%) and Microsoft (6%).
• Its valuation even exceeds the combined stock markets of Canada and Mexico, and the entire UK public market.

National News

Union Home and Cooperation Minister Amit Shah chaired a “Manthan Baithak”

• Strategic Goals
• Target to establish 2 lakh Multi-purpose PACS by Feb 2026.
• Boosting dairy and fisheries cooperatives for rural service access.
• Reviewing the World’s Largest Grain Storage Scheme for cooperatives.
• Digital Push
• Computerisation of PACS and digitisation of RCS offices underway.
• Integration of National Cooperative Database for better policy design.
• Policy Direction
• National Cooperative Policy 2025–2045 announced.
• States to draft their own cooperative policies by Jan 31, 2026.
• Empowerment Focus
• Amul showcases ₹80,000 crore turnover led by 36 lakh rural women.
• Cooperatives seen as engines of empowerment for farmers, women, and rural India.

MoP Issues Guidelines for Renewable Energy Implementing Agencies

• Top Highlights
• Private sector participation allowed for the first time in REIA designation.
• REIAs must:
• Be Indian companies under the Companies Act, 2013.
• Hold a Category-I electricity trading license from CERC.
• Have net worth > ₹500 crore and credit rating of A or above.
• Tenure: 5 years, subject to performance.
• Must conduct tariff-based competitive bidding via CERC-approved e-platforms.
• Conflict of interest clause: REIA’s subsidiaries/group companies cannot bid in tenders they manage.
• Termination clause: MoP can revoke designation for non-compliance, but obligations from past bids remain binding.

Banking

MoF keeps interest rates on Small Savings Schemes unchanged for Q2 FY26

• This decision, despite recent RBI repo rate cuts, maintains stability for risk-averse investors. 
• Below are the key schemes and their interest rates:
• Public Provident Fund (PPF): 7.1%
• Sukanya Samriddhi Yojana (SSY): 8.2%
• Senior Citizen Savings Scheme (SCSS): 8.2%
• National Savings Certificate (NSC): 7.7%
• Post Office Monthly Income Scheme (POMIS): 7.4% (payable monthly)
• Kisan Vikas Patra (KVP): 7.5% (matures in 115 months)
• Post Office Time Deposit (3-year): 7.1%
• Post Office Savings Account (POSA): 4.0%

Mashreq became the 1st UAE Bank to Receive Approval for IBU in GIFT City

• First UAE bank to enter India’s GIFT City financial hub.
• The branch is expected to be operational by Q4 2025, pending final regulatory clearances.
• Services will include foreign currency loans, trade finance, and treasury & risk management.
• The move strengthens India–UAE financial ties, supported by the CEPA agreement and regulatory incentives like TDS exemptions.

This digest is not complete. Read the complete digest on the General Awareness Course.