India and Eurasian Economic Union
News- India and Eurasian Economic Union sign Terms of Reference to launch FTA negotiations.
- Event – India and Eurasian Economic Union (EAEU) signed Terms of Reference (ToR) in Moscow to start Free Trade Agreement (FTA) negotiations.
- Members of EAEU – Armenia, Belarus, Kazakhstan, Kyrgyz Republic, Russia.
- About ToR & FTA:
- Signatories – Ajay Bhadoo (Addl. Secretary, DoC, GoI) & Mikhail Cherekaev (Deputy Director, Trade Policy Dept., EEC).
- Objective – Boost India’s exports, support MSMEs, diversify market access.
- Significance – Unlock untapped trade potential, enhance investment flows, strengthen India–EAEU partnership.
- Trade Growth – India–EAEU trade turnover– USD 69 bn (2024), up 7% from 2023.
- Support – EAEU’s combined GDP – USD 6.5 trillion.
- Current Negotiations – India also negotiating trade agreement with the USA.
- About EAEU:
- Nature – International economic union in northern Eurasia for free movement of goods, services, capital, labor.
- Formed – Treaty on the EAEU, effective January 1, 2015 (successor to Eurasian Economic Community).
- Objectives – Improve competitiveness of member states’ economies, promote cooperation, ensure stable development, raise living standards.
- Members – Russia, Belarus, Kazakhstan, Kyrgyzstan, Armenia.
- Presidency – Currently held by Belarus
Indranil Bhattacharyya
News- RBI Appoints Indranil Bhattacharyya as New MPC Member Ahead of October Policy Meet.
- Appointment – RBI appoints Indranil Bhattacharyya (Executive Director, Monetary Policy Department) as ex officio member of MPC.
- Replaces – He replaces Rajiv Ranjan, who is retiring.
- Timing – Appointment made ahead of MPC meeting (29 Sept–1 Oct 2025).
- About Monetary policy committee:
- Establishment – Constituted in 2016 under the amended RBI Act, 1934.
- Purpose – Decides India’s benchmark repo rate to achieve the inflation target.
- Inflation Target – 4% (with tolerance band of +2% / -2%) set till March 2026.
- Members (6) – RBI Governor (Chair), RBI Deputy Governor (Monetary Policy), 1 RBI official, 3 Govt-nominated experts.
- Voting – 1 vote each; Governor has casting vote.
- Meetings – 6 times a year (bi-monthly).
IPS Officer Satish Golcha
News-Senior IPS Officer Satish Golcha Takes Charge as Delhi Police Commissioner
- Appointment – Satish Golcha takes charge as Police Commissioner of Delhi.
- Batch – 1992-batch IPS officer.
- Appointed By – Central Government.
- Replaces – IPS officer SBK Singh (held additional charge along with DG, Home Guards).
National Space Day
News – National Space Day 2025.
- Event – Second National Space Day celebrated on 23 August 2025.
- Occasion – Marks 2nd anniversary of Chandrayaan-3’s successful Moon landing (2023).
- Declared By – Prime Minister Narendra Modi in 2023.
- Objective – To commemorate Chandrayaan-3 success and inspire youth towards STEM careers.
- Theme (2025) – “Aryabhatta to Gaganyaan: Ancient Wisdom to Infinite Possibilities.”
- Significance – Reflects India’s journey from astronomical heritage to upcoming Gaganyaan human spaceflight.
OpenAI
News-OpenAI gears up for India presence with first office in New Delhi
- News – OpenAI (ChatGPT maker) to open its first office in India, located in New Delhi.
- Significance –
- Supports IndiaAI Mission.
- Shows commitment to “AI for India, with India.”
- Aims to provide better service for Indian users – students, educators, professionals, and developers.
- Market Importance –
- India is ChatGPT’s second-largest market after the US.
- Usage grew 4x in the last year.
- India is among the top five markets for developers.
MCQs
Q1. In August 2025, India signed the Terms of Reference (ToR) for FTA negotiations with which organization?
a) ASEAN
b) European Union
c) Eurasian Economic Union (EAEU)
d) BRICS
Q2. Who was appointed as an ex officio member of the MPC in August 2025?
a) Shaktikanta Das
b) Rajiv Ranjan
c) Indranil Bhattacharyya
d) Ajay Bhadoo
Q3. Who did Satish Golcha replace as Delhi Police Commissioner?
a) Rakesh Asthana
b) Rajiv Ranjan
c) SBK Singh
d) Ajay Kumar Bhadoo
Q4. National Space Day is celebrated in India on which date?
a) 20 July
b) 15 August
c) 23 August
d) 2 October
Q5.In 2025, OpenAI announced its first office in India at?
a) Bengaluru
b) New Delhi
c) Hyderabad
d) Mumbai