1. Monsoon Session of Parliament Concludes with Key Legislative Debates
Subject: Polity
- The Monsoon Session of Parliament concluded on August 12, 2025, addressing critical legislative proposals, including the National Sports Governance Bill, 2025.
- The bill aims to enhance transparency in sports bodies, mandating audits and athlete representation to align with India’s 2036 Olympics bid.
- Tamil Nadu MPs highlighted the need for equitable federal funding for state sports infrastructure, raising concerns about center-state financial relations.
- Other bills discussed include the Merchant Shipping Bill, 2025, which modernizes maritime laws and supports India’s global trade ambitions.
- Opposition parties criticized the rushed passage of bills, alleging limited debate, which sparked debates on parliamentary procedure.
- Concepts: Federalism (Article 246) governs center-state relations; legislative accountability ensures democratic governance.
2. India Responds to U.S. Tariff Threats Over Russia Ties
Subject: International
- On August 12, 2025, India rejected U.S. criticism of its trade with Russia, following President Donald Trump’s announcement of a potential 25% tariff on Indian goods.
- The U.S. cites India’s increased Russian oil imports and arms purchases as reasons, claiming they fund Russia’s actions in Ukraine.
- India defends its imports as critical for energy security and inflation control, noting that Western nations also indirectly benefit from India’s refined Russian oil.
- The tariff threat may impact India’s $190 billion bilateral trade with the U.S., particularly in textiles and pharmaceuticals.
- India is exploring export diversification to ASEAN and Gulf markets to counter potential economic losses.
- Concepts: Strategic autonomy defines India’s balanced foreign policy; geoeconomic coercion reflects global trade tensions.
3. RBI Issues Guidelines to Streamline Claim Settlements
Subject: Economy
- The Reserve Bank of India (RBI) released a draft circular on August 12, 2025, to simplify claim settlements for deceased account holders in banks.
- Banks must settle claims within 15 days without requiring succession certificates, provided no disputes exist, to reduce claimant hardship.
- Delays in deposit claims will incur interest at the bank rate plus 4% per annum; locker delays attract ₹5,000 per day compensation.
- A ₹15 lakh threshold is set for claims without nomination, based on banks’ risk management policies.
- Comments on the draft are invited until August 27, 2025, reflecting RBI’s consultative approach to policy-making.
- Concepts: Financial inclusion ensures accessible banking services; consumer protection strengthens trust in financial systems.
4. India Strengthens Defence Ties with Nigeria
Subject: Defence
- On August 12, 2025, Raksha Rajya Mantri Sanjay Seth held talks with Nigeria’s Minister of State for Defence in New Delhi to bolster defence cooperation.
- Discussions focused on joint military exercises, technology transfers, and training programs for Nigerian forces.
- India aims to expand defence exports to Africa, addressing Nigeria’s needs in counter-terrorism and maritime security.
- The talks align with India’s broader Africa outreach, strengthening its role as a global south leader.
- Cooperation includes sharing expertise in cybersecurity and defense manufacturing, supporting India’s self-reliance goals.
- Concepts: Defence diplomacy enhances bilateral ties; global south leadership is a key foreign policy objective.
5. Tamil Nadu Launches Space Industrial Policy 2025
Subject: Economy (Tamil Nadu)
- On August 12, 2025, Tamil Nadu approved the Space Industrial Policy 2025 to position the state as a leader in space technology.
- The policy offers incentives for startups and private firms in satellite manufacturing and launch services, targeting Chennai and Coimbatore as hubs.
- It aligns with India’s Gaganyaan mission and ISRO’s push for private sector participation in space exploration.
- The state aims to create 10,000 jobs in the space sector by 2030, contributing to economic growth.
- Investments in research and development will strengthen Tamil Nadu’s role in India’s space ambitions.
- Concepts: Industrial policy drives economic diversification; public-private partnerships foster innovation.
