Daily Current Affairs- 18th September 2025

Daily Current Affairs- 18th September 2025

MNRE Launches India’s First National Geothermal Energy Policy

In the News: The Ministry of New and Renewable Energy (MNRE) notified/ launched India’s first National Policy on Geothermal Energy (2025). The policy is aimed at boosting geothermal energy development as part of India’s clean energy transition and Net Zero by 2070 goals.

Key Points:

• Policy Release & Purpose : The National Policy on Geothermal Energy (2025) has been notified to harness India’s largely untapped geothermal resources, integrate geothermal into the renewable energy mix, and support the Net Zero 2070 commitment.
• Scope of Applications: It covers both electricity generation and direct-use applications, such as:space heating and cooling (including via Ground Source Heat Pumps, GSHPs) agriculture (greenhouses, cold storage), aquaculture, tourism, desalination.
• Geothermal Provinces & Potential: India has identified 10 geothermal provinces, including regions such as the Himalayas, Cambay Basin, Aravalli, Mahanadi Basin, and Godavari Basin. Estimated potential is about 10 GW from geothermal sources.
• Innovation & Technology Emphasis: The policy encourages: research & development, adoption of global best practices advanced/ enhanced geothermal systems hybrid plants epurposing / retrofitting abandoned oil & gas wells for geothermal energy.
• Regulatory, Institutional & Ecosystem Measures: The stewardship & regulatory oversight for geothermal energy will rest with MNRE.  Emphasis on inter-ministerial collaboration, state governments, oil & gas firms, research institutions, and international bodies. Supportive measures such as enabling local innovation, public-private partnerships, and building the ecosystem for geothermal development. 
• Financial & Incentive Framework: Some of the incentives / support include:fiscal incentives (tax holidays, import duty exemptions) viability gap funding, concessional loans, foreign direct investment (FDI) up to 100% allowed, support in grid access, priority, waivers, etc. (from some sources)
• Pilot & Demonstration Projects: MNRE has sanctioned five pilot projects focused on resource assessment and demonstration to evaluate feasibility and lay groundwork for scale-up.

PM Modi Inaugurates PM Mitra Park in Dhar

In the News: Prime Minister Narendra Modi inaugurated (laid the foundation/stones of) the first PM MITRA Park in Dhar district, Madhya Pradesh. The event also involved launching benefits under the Pradhan Mantri Matru Vandana Yojana (PMMVY).

Key Points:

• Project & Purpose: The PM MITRA Park is India’s first greenfield Mega Integrated Textile Region and Apparel (PM MITRA) Park, aimed at boosting textile manufacturing, strengthening the textile value chain, promoting exports, and preserving local textile heritage—especially the Maheshwari saree tradition.
• 5F Vision: The Park aligns with the government’s “5F” vision: Farm → Fibre → Factory → Fashion → Foreign, integrating every stage from raw materials (cotton, silk) to design, processing, and exporting. 
• Location, Scale & Investment:The Park is located in Behnsola, Dhar district. It spans approximately 2,158 acres of land. Industrial units will occupy around 1,300 acres. Over ₹20,000 crore (₹ 20,746 crore) of investment has already been secured from 84 investors.
• Heritage & Cultural Significance: PM Modi emphasized the legacy of Devi Ahilyabai Holkar and her patronage of the Maheshwari saree. He noted that the Park will help carry forward this rich textile heritage of Madhya Pradesh
• . Impact on Local Economy & Employment: Farmers will benefit through better returns for raw materials like cotton and silk. The textile sector gets a boost, with infrastructural support (design, processing, exports) centralized. Intended to generate significant employment (both direct & indirect) in the region. 
• Other Concurrent Measures: During the inauguration, PM Modi released benefits under the Pradhan Mantri Matru Vandana Yojana amounting to over ₹450 crore to more than 15 lakh women.

Election Commission Revamps EVM Ballot Paper Design

In the News: The Election Commission of India (ECI) announced revised guidelines under Rule 49B of the Conduct of Elections Rules, 1961 for the design and printing of EVM ballot papers. These changes are meant to improve clarity, readability and voter convenience, starting with the Bihar assembly polls.

Key Points:

• Design & Photographs: Photographs of candidates on EVM ballot papers will now be in colour rather than black-and-white. The candidate’s face will occupy three-quarters of the photo space for better visibility.
•  Font & Names Uniformity: All candidate names (and NOTA) will be printed in the same font type and same font size, which will be large enough for easy readability. The serial numbers of candidates/NOTA are to be printed in the international form of Indian numerals, in font size 30 and in bold. 
• Paper Quality & Colour: Ballot papers will be printed on 70 GSM paper. For Assembly Elections, the paper will be pink-coloured, with specified RGB values.
• Layout / Other Format Changes: No more than 15 candidates shall be arranged on one sheet of a ballot paper.  The NOTA option will be placed after the last candidate on theballotpanel.
• Roll-out & Starting Point: These upgraded ballot papers will be used starting with the Bihar Assembly elections.

ASI to Revise Sarnath Plaque, Credits Benares Ruler’s Family

In the News: Ahead of a UNESCO team’s visit and India’s proposal to include Sarnath in the World Heritage List for the 2025-26 cycle, the Archaeological Survey of India (ASI) has announced plans to revise the main plaque at Sarnath. The change will credit the family of Babu Jagat Singh (from the erstwhile Benares ruler Chait Singh’s lineage) for first exposing the archaeological importance of the site, instead of attributing it to British officials.

Key Points:

• Who is Jagat Singh & His Role: Jagat Singh was a descendant of the former ruler Chait Singh of Benares.  In around 1787-88, on his orders, digging at an ancient mound in Sarnath (while procuring building materials in the area) inadvertently revealed Buddhist relics, thus bringing the site’s archaeological significance to light. 
• What’s Being Changed / Corrected: The plaque currently credits Mr. Duncan and Col. E. Mackenzie (British officers) for “first bringing to light” the archaeological importance in 1798 AD. ASI intends to correct this to say that Jagat Singh’s work in 1787-88 predated those British accounts. ASI will also adjust accompanying notice boards / cultural boards so that the narrative is more historically accurat.
• Precedent Corrections: Earlier in the year, the ASI had already corrected another plaque at the Dharmarajika Stupa in Sarnath which had described Jagat Singh in a negative or misleading way (as “destroyer”, etc.). The revised version now states that the stupa “came to light” through his action, removing the derogatory descriptions.
• Why Now / Context: The timing coincides with India pushing for UNESCO World Heritage status for Sarnath. Accurate historical attribution may be seen as part of strengthening the heritage credentials.  Descendants of Jagat Singh (the family) submitted a proposal to ASI for correction.  ASI Director-General has confirmed the year of exposure (site’s discovery) will be revised based on new findings.
• Implications: Revising the plaque helps in decolonising the narrative — recognising indigenous/local contributions. It may affect public perception, academic records, tourism material, cultural presentation of Sarnath. It underscores the importance of archival research, local histories, and correcting colonial-era distortions.

South Korea, US Reaffirm Goal of Korean Peninsula Denuclearisation

In the News: South Korea and the United States reiterated their shared commitment to achieve the denuclearisation of the Korean Peninsula. This declaration came during remarks by South Korea’s National Security Adviser Wi Sung-lac, in Seoul, as concerns persist over North Korea’s nuclear programme and its growing alliances

Key Points:

• Unchanging Goal: South Korea and the US maintain that denuclearisation of the Korean Peninsula is their ultimate, non-negotiable objective. This remains their position “whether North Korea likes it or not.”
• Three-Stage Approach: The roadmap laid out involves 

1. Freezing North Korea’s nuclear and missile programmes.  

2. Reducing those programmes.  

3. Finally dismantling them.

• Emphasis on Dialogue: Although North Korea has not shown readiness to engage fully, South Korea emphasised that restoring negotiations is a priority.
• Contextual Concerns: South Korea is concerned with North Korea’s increasing military cooperation with Russia. There is also domestic and international scepticism about feasibility. South Korea admits it does not yet have a fully detailed roadmap.
• Related Events / Timing: The reaffirmation comes ahead of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju.  It also follows growing tensions and missile / nuclear developments by North Korea

SEBI Launches SWAGAT-FI to Attract Long-Term Foreign Investment

In the News: SEBI (Securities and Exchange Board of India) approved the “SWAGAT-FI” framework (Single Window Automatic & Generalised Access for Trusted Foreign Investors) to simplify access for certain foreign investors, extend their registration validity, unify investment routes, and reduce regulatory friction—all aimed at attracting long-term, stable foreign capital into Indian markets.

Key Points:

• What SWAGAT-FI Is:   A regulatory framework to give “trusted/low-risk” foreign investors easier access to Indian capital markets. The “trusted” category includes sovereign wealth funds, pension funds, central banks, insurance companies, public retail funds etc. Entities heavily regulated in their home countries.
• Major Reforms / Relaxations Offered:  Registration validity extended from 3 years to 10 years.. Unified registration across multiple investment routes: e.g. FPIs (Foreign Portfolio Investors) and FVCIs (Foreign Venture Capital Investors).  This reduces duplication of paperwork when the same entity invests via different routes. Option for using a single demat account for all securities held across different categories/routes of investment, with proper tagging to distinguish them.  Faster onboarding via a single window/digital gateway (e.g. a portal) to reduce turnaround time.
•  Eligibility / Who Qualifies:  Entities that are “objectively low-risk” such as sovereign wealth funds, central banks, multilateral/international organizations, regulated public retail funds, insurance companies investing proprietary funds, pension funds.   Hedge funds or high-risk speculative funds are not included in the privileged category.
• Intended Impacts & Objectives:  Attract more sticky, long-term foreign capital rather than volatile short-term flows. Give foreign investors better regulatory certainty and predictability.  Make India more competitive compared to other emerging markets by simplification, transparency, reduced compliance burdens.
• Implementation & Timeline:  SWAGAT-FI was approved by the SEBI board on 12 September 2025.  The framework is expected to be gradually implemented over about six months, as systems/processes are put in place.

SBI Sells 13.18% Stake in Yes Bank to Japan’s SMBC

In the News: State Bank of India (SBI) completed the sale of its 13.18% stake in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC), in a deal valued at about ₹8,889 crore. This transaction is part of a larger acquisition by SMBC, making it a key shareholder in Yes Bank.

Key Points:

• Transaction Details & Value: SBI sold 13.18% of its stake in Yes Bank to SMBC. The sale brought in approximately ₹8,888.97 crore (nearly ₹8,889 crore) for SBI.
•  Resulting Shareholding Structure: After the sale, SBI continues to hold about 10.8% in Yes Bank. SMBC becomes a major shareholder in Yes Bank, part of its move to acquire up to ~20% combined stake through purchases from SBI and other lenders.
• Regulatory Approvals: The deal has been approved by the Reserve Bank of India (RBI). Also cleared by the Competition Commission of India (CCI).
• Strategic Significance: This is one of the largest cross-border investments in India’s banking sector.  SMBC’s entry is seen as adding global banking expertise, potentially strengthening Yes Bank’s operations, especially in areas like corporate banking, cross-border finance, and treasury functions.
• Background Context: SBI had earlier become Yes Bank’s major shareholder as part of its reconstruction in March 2020.  The 2020 restructuring involved several banks, and over time, SMBC negotiated acquiring not just SBI’s share but also from other banks who were part of the rescue effort.