Daily GK Update- 28th Feb, 2025

 NATIONAL UPDATES:

 

1. Punjab govt makes Punjabi compulsory in all Punjab schools: The Punjab government has made it mandatory for all schools in the state, irrespective of their educational board, to teach Punjabi as a main and compulsory subject.Education Minister Harjot Singh Bains announced the decision through a fresh notification, applicable immediately.Under the new directive, all schools, whether affiliated with the Punjab School Education Board (PSEB), Central Board of Secondary Education (CBSE), or Council for the Indian School Certificate Examinations (CISCE), will be required to include Punjabi in their curriculum.

 

2. Sarbananda Sonowal unveils ‘One Nation-One Port’ to enhance efficiency with ease of doing business: Union Minister Sarbananda Sonowal has launched a series of major initiatives of the Ministry of Ports, Shipping and Waterways (MoPSW) aimed at modernising India’s maritime infrastructure, strengthening its global trade presence, and to promote sustainability.These initiatives were launched during a stakeholder meeting in Mumbai, to discuss on various possibilities from the major announcements made in the Union Budget for the maritime sector.

Sonowal launched the ‘One Nation-One Port Process (ONOP)’ an initiative to standardise and streamline operations across India’s major ports.The step aims at removing inconsistencies in documentation and processes that led to inefficiencies, increased costs, and operational delays.

Sonowal also launched Sagar Ankalan — the Logistics Port Performance Index (LPPI) for FY 2023-24, as a significant step towards enhancing efficiency and global competitiveness in India’s maritime sector.

 

3. Rajnath Singh releases first edition of MoD’s bi-annual Hindi magazine ‘Sashakt Bharat’: Raksha Mantri Rajnath Singh has released the first edition of Ministry of Defence’s bi-annual Hindi magazine ‘Sashakt Bharat’ at South Block, New Delhi.The magazine comprises poems on the valour, patriotism and sacrifices of the Armed Forces personnel as well as articles on the policies of the Government written by the personnel of the Ministry, irrespective of their ranks, showcasing inclusivity and unity in diversity.The objective of ‘Sashakt Bharat’ magazine is to highlight the creative talent of the employees of MoD and encourage them to carry out their day-to-day activities in Hindi.

 

4. RamMohan inaugurates Udan Yatri Cafe at Chennai Airport: Union Minister for Civil Aviation Kinjrappu RamMohan Naidu has inaugurated the Udan Yatri Cafe at Chennai International Airport.This would benefit all passengers as five to six items like water, tea, coffee, snacks and local sweets will be sold at Rs.10 and Rs. 20.The first such cafe inaugurated at Kolkata airport last December has registered Rs. 30 thousand sales per day.

 

5. Accidental Insurance scheme for School Children in Rajasthan launched: The government of Rajasthan has launched Shiksha Sanjeevani Bima Yojana to provide accidental insurance to schoolchildren in the state.This first-of-its-kind scheme will offer personal accident insurance coverage of Rs 1 lakh to 1.3 lakh to children and their parents enrolled in state government schools. Initially, the scheme will cover schools in the Udaipur Division.The State Education and Panchayati Raj Minister, Madan Dilawar launched the scheme. The scheme was launched at the Shiksha Jeevan Personal Accident Insurance Ceremony organised at the Residency School of Udaipur. The scheme will be gradually expanded to all the schools in the state, benefitting around 1 crore students.Wonder Cement, Zurich Kotak General Insurance and State Bank of India are partners of the Shiksha Sanjeevani Bima Yojana scheme.Wonder Cement will provide money to pay the insurance premium for the insured children in the Udaipur Division while The Zurich Kotak General Insurance Company will be the insurance provider for the scheme.

 

6. Vice President Dhankhar attended Nyokum Yullo celebration in Arunachal Pradesh: Vice-President Jagdeep Dhankhar attended and addressed the first-ever joint mega Nyokum Yullo Celebration in Boasimla, Kamle District of Arunachal Pradesh.The Nyokum Yullo Celebration is an agrarian festival of the Nyishi tribe of Arunachal Pradesh.The word Nyokum is derived from Nyok meaning land (earth) and Kum meaning collectiveness or togetherness. The festival is linked with cultivation.The vice president also felicitated Kabak Yano on the occasion. Kabak Yano is the 5th woman from Arunachal Pradesh and the first woman from the Nyishi tribe to conquer the world’s highest peak, Mount Everest.The daughter of a casual worker, Kabak Yano climbed Mount Everest on 21st May 2024.

 

INTERNATIONAL UPDATES:

 

1. The Cali Fund launches in the margins of the resumed session of COP16: A new international fund has been created to help protect biodiversity. The ‘Cali Fund’ was launched at the resumed 16th Conference of Parties (COP16) to the United Nations Convention on Biological Diversity (CBD) in Rome.The Cali Fund will receive money from businesses that rely on Digital Sequence Information (DSI). DSI includes genetic data from plants, animals, and microorganisms. Industries like pharmaceuticals, cosmetics, agriculture, and biotechnology use DSI to develop products.Under this new system, they will now have to contribute a part of their revenue to support biodiversity efforts.The money collected will be used in several ways. It will support biodiversity conservation projects, help developing countries implement their biodiversity action plans, and fund scientific research to improve how genetic data is stored and used.

 

2. UAE launched 10-Year Blue Residency Visa System: The first phase of the Blue Visa system has been formally launched by the United Arab Emirates (UAE), which grants international nationals a 10-year residency visa.By attracting people who support environmental sustainability, this project hopes to strengthen the UAE’s commitment to a more environmentally friendly future.

The UAE Blue Visa: What is it?For professionals and contributors working in the areas of sustainability, environmental protection, and climate change, the New Blue Visa System provides a 10-year resident visa.This UAE Golden Visa is in line with the UAE’s overarching goal of advancing sustainable development and environmentally friendly projects.

 

OTHER UPDATES:

 

SPORTS 

 

1. Indian Women Football Team finishes 3rd in 2nd Pink Ladies Cup 2025: The Indian senior women football team, popularly known as Blue Tigress, ended their campaign in the 2nd Pink Ladies Cup with a 3-0 defeat to the South Korean side. The Indian team finished third in the Pink Ladies Cup.The 2nd edition of the Pink Ladies Cup was held at the Al Hamriya Sports Club Stadium in Sharjah, United Arab Emirates.The Pink Ladies Cup is a friendly international football tournament. A team’s win or loss in friendly matches does not affect its standing or ranking in FIFA’s points table.It is usually played before the start of a competitive season to prepare the team for the upcoming football season.The Indian women’s football team used the 2nd Pink Ladies Cup 2025 to prepare for the upcoming AFC Women Asia Cup Qualifiers to be held in May-June 2025.

 

SCIENCE AND TECHNOLOGY

 

1. DRDO and Indian Navy Successfully Test NASM-SR Missile in Chandipur: The Indian Navy in collaboration with the Defence Research and Development Organisation (DRDO) has successfully conducted the flight test of the indigenously developed Naval Anti-Ship Missile -Short Range (NASM-SR).The missile was launched from the Indian Navy’s Sea King MK 42B helicopter from the Integrated Test Range (ITR), Chandipur in Odisha.NASM-SR is the country’s first indigenously developed air-launched anti-ship missile system with a sea-skimming ability. The first test of the missile was conducted in May 2022.

 

2. 28 February – National Science Day: National Science Day is observed every year on 28 February to mark the discovery of the Raman Effect by physicist CV Raman in 1928.Since 1986, this day has been celebrated across India to recognise scientific achievements and encourage scientific awareness among students and the public.The theme for National Science Day 2025 is ‘Empowering Indian Youth for Global Leadership in Science and Innovation for Viksit Bharat’.The first celebration took place on February 28, 1987, marking the beginning of a tradition that continues to inspire generations.

 

BANKING AND FINANCE

 

1. NSE & Assam Govt ink MoU to skill youth in BFSI sector at Advantage Assam 2.0 Summit : National Stock Exchange (NSE) and the Government of Assam signed an MoU to implement a student skilling programme for the youth of Assam in the Banking, Financial Services and Insurance (BFSI) sector at the Advantage Assam 2.0 Summit.Assam is the 4th state after Uttarakhand, Meghalaya and Chhattisgarh to partner with NSE on skilling youth. As part of this understanding, NSE with the support of the Government of Assam, shall implement a student skill building program to increase awareness, build skills and competencies in the BFSI across the State of Assam.This project will enhance employability and self-employment opportunities in the BFSI sector.This programme aligns with Assam government’s objective and aims to empower the youth of the state with essential skills and knowledge in the BFSI (Banking, Financial Services and Insurance) sector, bridging the skill gap and enhancing their employment opportunities for the future.

 

2. Muthoot Finance gets RBI approval to open 115 new branches: Finance and insurance corporation Muthoot Finance has received RBI approval to open 115 new branches.The company is also advised to ensure suitable arrangements for security and for storage of gold jewellery, including a safe deposit vault, as envisaged in the extant directions, to the extent applicable.Muthoot Finance recently posted a 21 per cent increase in consolidated PAT in Q3 FY25 at ₹1,392 crore as against ₹1,145 crore in Q3 FY24.

 

3. Paytm Partners with AI Startup Perplexity to Enhance Financial Literacy with AI-Powered Search: Paytm has partnered with Perplexity AI to help users with real-time financial assistance. The payment gateway will be integrating the AI startup’s search engine to expand access to Paytm’s user base of 100 million active users in the country.Users will be able to ask finance-related questions and topics in their local language to make informed financial decisions.This innovation enhances digital literacy and reinforces Paytm’s commitment to driving technological advancements for a smarter, AI-driven India.

 

Daily GK Update- 27th Feb, 2025

 NATIONAL UPDATES:

 

1. India to host first-ever conference on women peacekeepers: India is hosting its first-ever conference on women peacekeepers, titled “Women in Peacekeeping: A Global South Perspective,” in New Delhi.The two-day event is organized by the MEA, Ministry of Defence, and Centre for UN Peacekeeping, with participation from 35 Troop Contributing Countries (TCCs) from the Global South.External Affairs Minister S. Jaishankar will deliver the keynote address, while UN representatives Jean-Pierre Lacroix and Christian Saunders will also participate.The conference will focus on peacekeeping technology, training, and regional collaboration, and the attending women peacekeepers will meet with President Droupadi Murmu.

 

2. SECI Inks MoU with MP Government for 200 MW Solar Project and 1,000 MWh BESS Project: Solar Energy Corporation of India (SECI), a Navratna CPSU under the Ministry of New and Renewable Energy (MNRE), has signed an MoU with the Government of Madhya Pradesh for setting up a 200 MW solar project in Dhar under the CPSU Scheme and a 1,000 MWh battery storage project in the state.The 200 MW solar project is part of a 500 MW agreement which was executed in 2023 with MP Power Management Company (MPPMCL) for a period of 25 years under which SECI will supply the electricity to the state.

 

3. 51st Khajuraho Dance Festival 2025: The Khajuraho Dance Festival is a famous cultural event held every year. In 2025, it will take place from February 20 to 26.Organized by the Department of Culture, Madhya Pradesh, with support from Madhya Pradesh Tourism, this festival has been showcasing India’s classical dances since 1975.Set against the beautiful Khajuraho Temples, the festival celebrates India’s rich heritage while also encouraging new ideas in traditional dance.The 51st edition promises an exciting experience with amazing dance performances, heritage tours, craft exhibitions, delicious food, adventure activities, and much more.

 

4. India’s First Wildlife Biobank Inaugurated at Darjeeling Zoo: India has achieved a milestone in wildlife conservation with its first zoo-based biobank at Padmaja Naidu Himalayan Zoological Park (PNHZP) in Darjeeling, West Bengal.The biobank has been operational since July 2024. Often called a ‘frozen zoo,’ it focuses on preserving genetic materials from endangered species.The initiative aims to enhance conservation and research efforts.

 

5. Operative Kisan Credit Card (KCC) amount crosses ₹10 Lakh Crore benefiting 7.72 Crore Farmers: The amount under operative Kisan Credit Card (KCC) accounts has more than doubled from ₹4.26 lakh crore in March 2014 to ₹10.05 lakh crore in December 2024.This indicates significant increase in quantum of affordable working capital loans provided to the farmers for agriculture and allied activities.In 2019, the KCC scheme was extended to cover the working capital requirements of allied activities, viz. Animal Husbandry, Dairy and Fisheries. GoI, under the Modified Interest Subvention Scheme (MISS), provides interest subvention of 1.5% to banks for providing short-term agri loans through KCC up to Rs 3 lakh at a concessional interest rate of 7% per annum.An additional Prompt Repayment Incentive of 3% is provided to farmers on timely repayment of loans, which effectively reduces the rate of interest to 4% for farmers. Loans up to ₹2 lakh are extended on a collateral-free basis, ensuring hassle-free access to credit for small and marginal farmers.

 

6. Tata Sons chairman N Chandrasekaran to lead Ratan Tata Endowment Foundation: N Chandrasekaran, Tata Sons chairman, has been appointed as the chairman of the Ratan Tata Endowment Foundation, a Section 8 company set up by the late Ratan Tata for philanthropic purposes.This foundation, which will focus on new and impactful social initiatives, remains independent of Tata Trusts.The executors of Ratan Tata’s will appointed Chandrasekaran after seeking an external legal view.

 

INTERNATIONAL UPDATES:

 

1. Second ‘India in Bahrain Festival’ draws record crowd: The second edition of the “India in Bahrain Festival” drew more than 2,000 visitors to Dana Mall in Sanabis, showcasing India’s cultural diversity through performances, art, and cuisine.The event, organized by the Indian Embassy in collaboration with Lulu Hypermarket Bahrain and Dana Mall.Indian Ambassador to Bahrain, Vinod K. Jacob, inaugurated the festival, which featured performances by 17 Indian community associations presenting classical and folk traditions from various regions of India.The event, part of the Ministry of External Affairs’ Promotion of Cultural Ties with Diaspora (PCTD) initiative, also included an art exhibition titled ‘India Through My Eyes,’ featuring 42 paintings by 20 artists.

 

2. 1st International Conference on Carbon Market Prakriti inaugurated: The first International Conference on Carbon Markets-Prakriti was held in New Delhi.The Conference was organised with the aim of understanding the workings of the Indian carbon market and how to deepen and develop it. It also discussed the latest trends in the global carbon credit market and their dynamic.

The first International Conference on Carbon Markets-Prakriti was organised by the Bureau of Energy Efficiency (BEE).The International Conference on Carbon Markets-Prakriti was inaugurated by the Union Minister for Power and Housing & Urban Affairs, Manohar Lal Khattar.

 

OTHER UPDATES:

DEFENCE

 

1. Defence Ministry forms high-level panel to speed up Tejas jet deliveries: In a move to address prolonged delays in the delivery of Tejas Mk-1A, India’s indigenous Light Combat Aircraft (LCA), the Ministry of Defence has formed a high-level committee to examine the cause of delay and suggest measures for faster induction of the fighter jets into the Indian Air Force (IAF).The committee will have five members and will be led by Defence Secretary Rajesh Kumar Singh, the report states, adding that the focus will be on resolving issues that have slowed down the production and delivery of these aircraft.The development comes days after Air Marshal AP Singh, the Chief of the Indian Air Force, expressed his frustration over the delays and publicly criticised Hindustan Aeronautics Limited (HAL).

 

SCIENCE AND TECHNOLOGY

 

1. Paytm, DPIIT partner to support fintech startups with mentorship & funding: The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with Paytm to promote innovation and support manufacturing and fintech startups in India.Paytm will provide mentorship, infrastructure, market access, and funding opportunities to help startups scale and innovate.This initiative aims to equip entrepreneurs with essential resources, enhancing their ability to develop cutting-edge payment and financial technology solutions.

 

2. Microsoft unveils Magma: A new AI model for controlling software and robots: Microsoft Research has introduced a new AI model called Magma, which could mark a big advancement in artificial intelligence for controlling both software interfaces and robotic systems.Magma combines visual and language processing, allowing it to operate in both the digital and physical world, making it a potentially versatile AI model.Microsoft claims this makes Magma unique, as it can process data like text, images, and video and act upon it natively, whether navigating software or controlling robots.

 

BANKING AND FINANCE

 

1. RBI allows withdrawal of up to ₹25,000 per depositor of New India Co-operative Bank: Days after imposing several restrictions on New India Co-operative Bank, the RBI relaxed the conditions and permitted customers to withdraw up to ₹25,000 from their deposit accounts with effect from February 27.On February 13, the Reserve Bank had imposed All Inclusive Directions (AID) on the Mumbai-based cooperative bank, which included a ban on deposit withdrawals, amid supervisory concerns.Later, the RBI superseded the Board of Directors of New India Cooperative Bank for a period of 12 months. It also appointed Shreekant, former Chief General Manager of State Bank of India (SBI), as Administrator to manage the affairs of the bank during this period. It also appointed a ‘Committee of Advisors’ to assist the Administrator.

 

2. South Indian Bank launches ‘SIB QUICKPL’, a fully digital personal loan platform: Kochi-based Private lender, South Indian Bank has launched the ‘SIB QUICKPL’, a fully digital personal loan platform for new customers.This in-house solution enables salaried and self-employed individuals with strong credit profiles to secure unsecured personal loans in 10 minutes.‘SIB QUICKPL’ has been integrated with the Account Aggregator framework and Income Tax portal for instant verification. No document uploads are required, and the approved loan amount is credited directly to the applicant’s savings account.

AWARDS AND HONOURS

 

1. Mopa Airport Wins Prestigious ‘Sarvashrestha Suraksha Puraskar’: Manohar International Airport (GOX), which is developed and operated by GMR God International Airport Ltd. (GGIAL), has achieved a significant milestone by becoming the first airport in India to be honoured with the prestigious “Sarvashrestha Suraksha Puraskar (Golden Trophy)” at the National Safety Council of India (NSCI) Safety Awards 2024 in the ‘Service Sector’ category.This award was presented during a ceremony at The Lalit in Mumbai.This recognition underscores Manohar International Airport’s outstanding performance in Occupational Safety and Health (OSH), its dedication to minimizing workplace injuries, and its implementation of top safety practices.

 

Daily GK Update- 26th Feb, 2025

 NATIONAL UPDATES:

 

1. PM Modi inaugurates Advantage Assam 2.0 Investment & Infrastructure Summit 2025: Prime Minister Narendra Modi has inaugurated the Advantage Assam 2.0 Investment & Infrastructure Summit 2025 in Guwahati, Assam.The Advantage Assam 2.0 Investment and Infrastructure Summit 2025 in Guwahati, is being held from 25th to 26th February. It includes an inaugural Session, seven ministerial sessions and 14 thematic sessions. It also includes a comprehensive exhibition illustrating the state’s economic landscape, with a focus on its industrial evolution, global trade partnerships, booming industries, and the vibrant MSME sector, featuring over 240 exhibitors.

 

2. CBDT introduces self-help tool to provide instant answers to I-T bill 2025: The Income Tax Department has introduced an online self-help tool to assist taxpayers in understanding the changes proposed in the Income Tax Bill 2025.This tool, available on the official income tax department’s website, allows taxpayers to compare the provisions of the new bill with those of the Income Tax Act, 1961.The comparison tool enables taxpayers to choose a specific section from the current Income Tax Act using a dropdown menu. Upon selection, the corresponding clause from the new Income Tax Bill will be displayed on the right-hand side. To enhance clarity, the mapping can also be presented in a table format.The New Income Tax Bill was introduced in the Lok Sabha on February 13, 2025, with the objective of simplifying the complex Income Tax Act of 1961. Over the years, the Act has undergone numerous modifications, with annual updates through the Union Budget.

 

3. SECI signs MoU with Government of MP for 200 MW Solar Project at Dhar: Solar Energy Corporation of India Limited (SECI), a Navratna CPSU under the Ministry of New & Renewable Energy, has signed an MoU with the Government of Madhya Pradesh for setting up 200 MW Solar Project in Dhar under the CPSU Scheme and a 1000 MWh Battery Storage Project in the state.The 200 MW Solar Project is part of a 500 MW Agreement which was executed in 2023 with MP Power Management Company Limited (MPPMCL) for a period of 25 years under which SECI will supply the electricity to the state.

 

4. TRIFED signs MoU with Rooftop to facilitate skill enhancements of tribal artisans and facilitating their businesses: In a significant move to transcend from business-to-consumer (B2C) to business-to-business (B2B) approach for tribal marketing, Tribal Cooperative Marketing Development Federation of India Ltd (TRIFED), under the Ministry of Tribal Affairs, has entered into a strategic partnership with Rooftop to facilitate tribal businesses.The MoU was signed in the presence of Managing Director of TRIFED Ashish Chatterjee during the ongoing flagship event ‘Aadi Mahotsav’, held at Major Dhyan Chand National Stadium in the New Delhi.Rooftop MoU was signed and exchanged between TRIFED Deputy General Manager Preeti Tolia and Rooftop Founder and CEO Kartik Gaggar. The principal objective of the MoU is to aid the skill enhancements of the tribal artisans.

5. SWAYATT initiative on GeM celebrates 6 years of transformative impact: The Government e Marketplace (GeM) commemorated six years of Startups, Women, and Youth Advantage through eTransactions (SWAYATT) initiative at its New Delhi headquarters (HQ).Launched on 19 February 2019, SWAYATT was conceptualised with the clear objective of invigorating the participation of women-led enterprises and youth in public procurement.Rooted in GeM’s foundational pillar of social inclusion, SWAYATT is the portal’s commitment to enhancing the ease of doing business and establishing direct market linkages to annual public procurement for startups, women entrepreneurs, Micro and Small Enterprises (MSEs), Self-Help Groups (SHGs), and youth, especially those from backward sections of society.

 

6. Haryana launches witness protection scheme: The Nayab Singh Saini-led BJP government rolled out the “Haryana Witness Protection Scheme, 2025” to ensure the protection of the witnesses as the state gears up to implement the three new criminal laws.The scheme will be applicable to the witnesses of those offences which are punishable with death or life imprisonment, or imprisonment up to seven years and above.It will also cover punishments under sections 74, 75, 76, 77, 78 and 79 of the Bharatiya Nyaya Sanhita, as well as under Sections 8, 10, 12, 14 and 15 of the Protection of Children from Sexual Offences (POCSO) Act, 2012.A government spokesperson said that under the scheme, there will be three categories of witnesses based on the threat perception.

 

INTERNATIONAL UPDATES:

 

1. India poised to host the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific in Jaipur: India will host the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific. The Forum will take place at the Rajasthan International Centre in Jaipur on 3-5 March 2025.The event will centre on the theme of “Realizing Circular Societies Towards Achieving SDGs and Carbon Neutrality in Asia-Pacific”.The Forum will host an international ‘3R trade and technology exhibition’, providing a platform for over 40 Indian and Japanese businesses and start-ups to showcase best practices, ideas and solutions that support circularity and 3R principles while encouraging cross-learning.Union Minister Shri Manohar Lal informed that ‘Waste-to-wealth initiatives by NGOs and Self-help Groups across India will also be showcased at the Forum promoting sustainability-driven entrepreneurship and community engagement.

 

2. Unilever CEO Schumacher to step down: Unilever CEO Hein Schumacher is stepping down after less than two years in the job, with current CFO Fernando Fernandez set to take his place leading the company.Schumacher — who took the reins in July 2023 and was tasked with leading the overhaul of the consumer goods giant — will stand down as CEO and board director in March and will leave the company on May 31.Fernandez’ new role will take effect on March 1.

 

OTHER UPDATES:

DEFENCE

 

1. Ministry of Defence inks contract worth Rs 1220.12 cr with Bharat Electronics Limited: The Ministry of Defence (MoD) signed a contract with Bharat Electronics Limited (BEL), Bengaluru for the procurement of 149 Software Defined Radios for the Indian Coast Guard at a total cost of Rs 1220.12 crore under Buy (Indian-IDDM) category.These state-of-the-art radios will enable secure and reliable information sharing, collaboration, and situational awareness through high-speed data and secure voice communication.This will strengthen the Indian Coast Guard’s capability to fulfil its core responsibilities, including maritime law enforcement, search and rescue operations, fisheries protection, and marine environment protection. Additionally, these radios will enhance interoperability for joint operations with the Indian Navy.

 

BANKING AND FINANCE

 

1. SEBI slaps Rs 10 lakh penalty on Axis Securities for violating stock rules: Capital markets regulator SEBI has slapped penalties totalling Rs 50 lakh on three foreign portfolio investors for exceeding the prescribed limits on short-term investments in debt securities.In three separate orders, the regulator slapped a fine of Rs 20 lakh each on Nexpact Ltd and AIRD Investment Commercial LLC, while it imposed a penalty of Rs 10 lakh on Aviator Global Investment Fund.The orders came after Sebi had carried out inspections of the custodian, Orbis Financial Corporation, for FY22.The regulator observed that investments made by Aviator Global Investment Fund, Nexpact Ltd and AIRD Investment Commercial LLC were not in line with the permissible limits (related to residual maturity) for investment in debt securities applicable for FPIs as on March 31, 2022.

 

2. IndusInd Bank partners with PGTI as its Official Banking Partner: IndusInd Bank has partnered with the Professional Golf Tour of India (PGTI) as its official Banking Partner.This collaboration underscores the bank’s commitment to providing a superlative experience to its Ultra High Net Worth Individuals (UHNIs) & High Net Worth Individuals (HNIs) under the umbrella of PIONEER banking.This partnership is an extension of various initiatives taken by IndusInd Bank over the years that not only caters to the diverse banking requirements of UHNIs and HNIs, but also provides value-added premium experience aligned to their lifestyle and way of living, especially in the field of sports.Under the leadership of Kapil Dev, President – PGTI and cricketing legend Amandeep Johl, CEO – PGTI, the tour features more than 20 tournaments across the year. Under this partnership, IndusInd Bank’s PIONEER customers stand a chance to participate in various engagement activities across the tournament cities

 

3. SEBI imposes Rs 5.05 crore penalty on Indian Clearing Corporation: The Securities and Exchange Board of India (SEBI) imposed a total penalty of Rs 5.05 crore on Indian Clearing Corporation (ICCL), a wholly owned subsidiary of BSE, for alleged violations of cyber security and system audit-related norms.The market regulator conducted an inspection between December 2022 and July 2023, following which it sent the show-cause notice in October.Sebi’s findings showed that ICCL had submitted the network auditor report to the regulator without any management or board comments.The norms prescribe that the audit report, along with the management’s comments, be placed before the governing board of the market infrastructure institutions. The same, along with the board’s comments, must be submitted to Sebi within one month from the completion of the audit.

 

AWARDS AND HONOURS

 

1. Rajnath Singh confers 32 medals on Indian Coast Guard personnel: Defence Minister Rajnath Singh has conferred gallantry, distinguished service and meritorious service medals to personnel of the Indian Coast Guard at an investiture ceremony in New Delhi.A total of 32 medals were presented including six President’s Tatrakshak Medals for Distinguished Service, 11 Tatrakshak Medals for Gallantry and 15 Tatrakshak Medals for Meritorious Service.

 

Daily GK Update- 25th Feb, 2025

 NATIONAL UPDATES:

 

1. PM Modi released 19th installment of PM-KISAN scheme from Bihar: Prime Minister Narendra Modi has released the 19th installment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme from Bhagalpur in Bihar.The Prime Minister installment was released to 9.8 crore beneficiary farmers via Direct Benefit Transfer. More than 22 thousand 700 crore rupees in assistance directly released to the bank accounts of beneficiaries of the scheme.The PM-KISAN scheme provides six thousand rupees annually to landholding farmers in three equal installments. Programmes will also be organized in 731 Krishi Vigyan Kendras across the country with nearly two and a half crore farmers joining the programme physically or virtually.

 

2. Datia becomes Madhya Pradesh’s 8th public airport: The Directorate General of Civil Aviation (DGCA) has granted Datia Airport a license as a public aerodrome, under the 3C/VFR category.With this approval, Datia Airport has become the 8th public airport in Madhya Pradesh, available for general public use.Before September 2024, there were only five airports licensed for public use in Madhya Pradesh which include Bhopal, Indore, Jabalpur, Khajuraho, and Gwalior.Subsequently, on September 9, 2024, Rewa Airport received a 3C/IFR category license, and its inauguration was done by Prime Minister Modi on October 20, 2024. Later, on December 23, 2024, Satna Airport was granted a 2B/VFR category public aerodrome license.The newly licensed Datia Airport spans approximately 118 acres, having a runway of 1,810 meters long and 30 meters wide. The terminal building covers 768 square meters, with a passenger handling capacity of 100 per hour. The apron is designed to accommodate two ATR-72 aircraft.

 

3. RailTel Secures Rs 288 Cr Contract To Implement Kavach Anti-collision System: RailTel Corporation of India Limited (RailTel), a public sector enterprise under the Ministry of Railways, has won a Rs 288 crore contract to install the Kavach anti-collision system across 71 stations.The project will cover 502 route kilometers (RKM) under the Danapur and Sonpur divisions of East Central Railway. The implementation of Kavach, an advanced automatic train protection system, aims to enhance railway safety and improve operational efficiency.Kavach is a state-of-the-art train protection system designed to prevent collisions by automatically applying brakes if a train passes a signal at danger or if there is a risk of collision. RailTel has described this as one of its largest signalling projects, emphasising its role in strengthening railway safety infrastructure.

 

4. Govt extends Rajeev Singh Raghuvanshi’s tenure as DCGI by one year: The Appointments Committee of the Cabinet (ACC) has approved an extension of tenure for Rajeev Singh Raghuvanshi as Drug Controller General of India (DCGI) for a one-year term.Raghuvanshi, who took charge as DCGI on February 23, 2023, was initially set to superannuate on February 28 this year. In addition, he also holds the additional charge of secretary-cum-scientific director of the Indian Pharmacopoeia Commission (IPC).The DCGI is the head of the country’s apex health regulatory body, the Central Drugs Standard Control Organisation (CDSCO), which is responsible for the regulation, manufacturing, sales, export, and import of all medicines, vaccines, cosmetics, and medical devices in the country.

 

INTERNATIONAL UPDATES:

 

1. Telangana to host Miss World pageant in May 2025: The 72nd edition of the Miss World pageant will be held in Telangana from May 7 to May 31. The opening and closing ceremonies, including the grand finale, are scheduled to take place in Hyderabad.Nandini Gupta to Represent India at 72nd Miss World in Telangana.The 71st Miss World was previously held in New Delhi and Mumbai.

 

2. Bisleri Signs MoU with Archaeological Survey of India to Revive Water Bodies at Heritage Sites Across India: Bisleri International Pvt. Ltd. has signed an MoU with the Archaeological Survey of India (ASI) under the ‘Adopt a Heritage 2.0 Programme’ to integrate heritage conservation with sustainable water management.As part of Bisleri’s CSR initiative ‘Nayi Umeed,’ the partnership will focus on the rejuvenation of four historic water bodies: Chand Baori (Abhaneri), Baori (Neemrana), Padma and Rani Talabs (Ranthambore Fort), and Budha Budhi Pond (Kalinjar Fort) through desilting, cleaning, ecological revival, and landscaping.The project will be implemented in phases to maintain the integrity of the sites, with the addition of informative signages to boost tourism and encourage local community participation.Bisleri is committed to creating a meaningful impact on society through sustainability-driven initiatives. This collaboration with the Archaeological Survey of India under the ‘Adopt a Heritage 2.0 Programme’ is a testament to our dedication to both environmental stewardship and heritage conservation.

 

3. 23 February – World Peace and Understanding Day: World Peace and Understanding Day is observed every year on February 23, marks the anniversary of the Rotary Club’s founding in 1905, emphasizing its commitment to global peace and humanitarian service.The day highlights the importance of fostering dialogue, cultural exchange, and collaboration among nations to resolve conflicts and build sustainable peace.

 

4. 24 February – Central Excise Day: Central Excise Day is celebrated annually on February 24 in India to honour the Central Board of Indirect Taxes and Customs (CBIC) and its role in tax administration.The day acknowledges the dedication and contributions of excise officers in preventing tax evasion and ensuring compliance with indirect tax laws.Central Excise Day promotes transparent and efficient tax collection, ensuring a level playing field for businesses and preventing illegal trade activities

 

 

 

OTHER UPDATES:

DEFENCE

 

1. Kash Patel sworn in as 9th FBI director : Indian-origin Kash Patel was sworn in as the ninth director of the Federal Bureau of Investigation (FBI), taking oath on the sacred Hindu text of Bhagavad Gita.Kash Patel is not the first Indian-American to have taken his oath of office on the Gita. Earlier, Congressman Suhash Subrahmanyam also took his oath on the Gita.Patel, a former Justice Department counterterrorism prosecutor, was nominated to replace Christopher Wray as the FBI director in November.

 

2. HAL, DIAT forge partnership to boost aerospace research, innovation : Hindustan Aeronautics Limited (HAL)’s nodal training institute, HAL Management Academy (HMA), has signed a Memorandum of Understanding (MoU) with the Defence Institute of Advanced Technology (DIAT) to bridge the gap between industry and academia.The MoU with Pune-based DIAT, a prestigious institute under DRDO, aims to promote cutting-edge research in the aerospace sector and drive technological advancements.Under this partnership, HAL officials will have the opportunity to pursue master’s and PhD programs at DIAT, participate in specialized capsule modules on emerging technologies, and engage in faculty and student exchange programs.

 

SPORTS 

 

1. Rohit Sharma becomes second fastest to complete 11,000 runs in ODI cricket: India captain Rohit Sharma has become the second fastest batter after compatriot Virat Kohli to complete 11,000 runs in One-day Internationals during their Champions Trophy clash against Bangladesh here. Rohit is only the fourth Indian and 10th batter overall to reach the mark in the 50-over format.The seasoned opener reached the mark in his 270th game, and is the second fastest behind Kohli to cross 11,000 runs in terms of innings.Kohli had crossed the 11,000-run mark in 222 innings while Rohit has brought up that many runs in 261 innings. In this list, they are followed by the legendary Sachin Tendulkar (276 innings), Ricky Ponting (286) and Sourav Ganguly (288).Rohit is now placed behind former India captain Ganguly (11,363 runs) in the list of overall highest run-scorers in ODI cricket, with Tendulkar cemented firmly at the top position with 18,246 runs in 463 matches.

 

2. Virat Kohli Becomes Fastest to 14,000 ODI Runs: Indian cricketer Virat Kohli has created history as he became the quickest batter to score 14,000 runs in One-Day Internationals during the ICC Champions Trophy clash against Pakistan in Dubai.Kohli is the quickest ever to the milestone, having completed his 14,000 ODI runs in 287 innings.Kohli is now only the third batter in ODI cricket to have scored 14,000 runs, after the legendary Indian Sachin Tendulkar and Sri Lanka’s Kumar Sangakkara. Kohli already holds the record for scoring the most ODI centuries (50).Earlier in the game against Pakistan, Kohli had gone past former captain Mohammad Azharuddin’s record of most catches by any Indian fielder when he took his 157th catch. Azharuddin had taken 156 catches for India between 1985 and 2000.

 

SCIENCE AND TECHNOLOGY

 

1. Microsoft introduces new gen AI model ‘Muse’ : Microsoft has introduced Muse, its first generative AI model for game ideation. Muse is a gen AI model of a video game “that can generate game visuals, controller actions, or both”.Before renaming it as Muse, Microsoft originally referred to the gen AI model as the World and Human Action Model (WHAM).Muse is developed by the Microsoft Research Game Intelligence and Teachable AI Experiences (Tai X) teams in collaboration with Xbox Games Studios’ Ninja Theory.Muse was developed around the idea of how innovations in AI capabilities can support creativity. The tech giant found the gaming industry to be the perfect use case for Muse.

 

BANKING AND FINANCE

 

1. Ex-SBI chairman Khara to head panel to implement amendment to insurance law: The Insurance Regulatory and Development Authority of India (IRDAI) has set up a seven-member committee headed by former chairman of State Bank of India (SBI) Dinesh Khara to look into the proposed amendments to the Insurance Act, 1938 and suggest a framework for implementation of the same.The finance ministry has proposed to amend various provisions of the Act, including raising foreign direct investment (FDI) in the insurance sector to 100 per cent, reduction in paid-up capital, and provision for composite licence, among others.The Insurance Act, 1938 provided a broad legal framework within which the industry operates. It also led to the establishment of Irdai as a regulator for the industry. It details the various types of insurance policies across life, general, and health insurance that can be offered in India.

 

2. IRDAI Launches Bima-ASBA : The Insurance Regulatory and Development Authority of India (IRDAI) has launched a new payment mechanism called Bima-ASBA (Applications Supported by Blocked Amount).The initiative, which aims to streamline the payment process for life and health insurance policies, allows policyholders to block funds in their bank accounts for premium payments, ensuring smooth transactions without immediate debits.All insurers must implement Bima-ASBA by March 1, 2025. They are required to include a standard declaration in proposal forms. Insurers can collaborate with multiple banks to facilitate the blocking of funds. It is also essential that the one-time UPI mandate is valid for up to 14 days.

 

3. What is Bima-ASBA?: Bima-ASBA stands for Applications Supported by Blocked Amount. It allows policyholders to secure funds in their bank accounts while waiting for the insurer’s decision on their application. The funds remain available but are blocked from use until the insurer either accepts or rejects the proposal.The insurer requests the bank to block the premium amount. Upon customer consent, the bank blocks the funds. These funds stay in the account but cannot be accessed. If the insurer approves the application, the amount is debited. If rejected, the funds are released back to the customer.

 

Daily GK Update- 24th Feb, 2025

 NATIONAL UPDATES:

 

1. Indian student wins memory championship by recalling 80 digits in 13.50 seconds: A 20-year-old Indian student, Vishvaa Rajakumar has made headlines by winning the Memory League World Championship, an intense online competition where participants compete in rapid memorisation challenges.Vishvaa Rajakumar, a student at Manakula Vinayagar Institute of Technology in Puducherry, stunned competitors by memorising 80 random digits in just 13.50 seconds. This is an incredible speed of nearly six digits per second.

 

2. Tata Power partners with Amazon Web Services for smart energy transition: Tata Power has entered into a partnership with Amazon Web Services to initiate a data-driven transformation to speed up India’s energy transition.Tata Power has already established a sturdy digital foundation as it has migrated 23 mission-critical applications to AWS using Amazon Elastic Kubernetes Service (EKS).This transition improves security, scalability, and real-time operational efficiency across major areas such as power generation, grid management, renewables, sales, and finance.

Additionally, the company has transitioned towards server-less architecture with AWS Step Functions, optimizing energy transactions and grid operations to cater to fluctuating demand patterns

 

3. Shaktikanta Das appointed Principal Secretary II to Prime Minister: Former Governor of the Reserve Bank of India (RBI) Shaktikanta Das has been appointed Principal Secretary II to Prime Minister Narendra Modi.Das served as the Governor of the RBI from 2018-2023, a crucial period for the Indian economy along with the uncertainty caused by the COVID-19 pandemic.His appointment is being seen as the Prime Minister’s Office (PMO) bolstering its financial management expertise in the uncertain geo-economic situation prevailing currently.A Tamil Nadu cadre Indian Administrative Service (IAS) officer of the 1980 batch, Mr. Das will work alongside current Principal Secretary I, P.K. Mishra, who will continue in his post.Changes in the PMO at this level have been rare under Modi, with former Principal Secretary I, Nripendra Misra, retiring from that post only after he had served a whole term from 2014-2019.

 

INTERNATIONAL UPDATES:

 

1. PM Modi to be guest of honour at Mauritius National Day celebrations: Prime Minister Narendra Modi will be the guest of honour at Mauritius’ National Day celebrations, his Mauritian counterpart Navin Ramgoolam has announced, calling it a testimony of the close bilateral ties.Mauritius commemorates its National Day on March 12th every year. The day marks the anniversary of Mauritius’s independence from British rule in 1968.Addressing the National Assembly, Mauritian Prime Minister Ramgoolam said it is indeed a singular privilege for our country to host such a distinguished personality despite his very tight schedule.President Droupadi Murmu attended Mauritius’ National Day celebrations last year 2024 as the chief guest.

2. Microsoft unveils quantum chip ‘Majorana 1’- powered by new state of matter: Microsoft has introduced its first quantum chip. The chip, called Majorana 1, is powered by a new Topological Core architecture.Microsoft developed topological superconducting nanowires using indium arsenide (semiconductor) and aluminum (superconductor), forming MZMs, which are essential building blocks for quantum bits (qubits).Microsoft aims to scale up to one million qubits on a single chip while claiming that its design is less prone to errors than competing quantum chips.Majorana 1 represents Microsoft’s second quantum milestone, with the company envisioning a future where quantum computing enables breakthroughs in self-healing materials, sustainable agriculture, and chemical discovery.

 

3. Brazil Joins OPEC+ Forum to Balance Oil Production and Energy Transition Goals: Brazil has joined the OPEC+ Forum as an observer, signaling a calculated move to balance its role as a major oil producer with its energy transition ambitions.The decision by the National Council for Energy Policy, allows Brazil to participate in discussions without committing to policies like production cuts or price controls.As the world’s seventh-largest oil producer, Brazil pumps 4.3 million barrels of crude daily, contributing 4% of global output. In 2024, crude oil became the country’s top export, accounting for 13.3% of total sales and surpassing soybeans.OPEC+, which includes 23 countries producing nearly 40% of the world’s crude oil, coordinates production policies to stabilize markets.OPEC members comprise Algeria, Congo, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates and Venezuela. 

 

OTHER UPDATES:

DEFENCE

 

1. India, Bangladesh agree to launch new ‘hotline’ between border forces: India and Bangladesh have decided to establish a new communication link between the deputy commanders of their respective border-guarding forces and identified about 99 fresh patches for erecting a fence along their shared border.The decisions were finalised during the biannual director general-level talks between the Border Security Force (BSF) and the Border Guard Bangladesh (BGB) that concluded here.This was the first time that a high-level meeting between the two forces took place after the fall of the Sheikh Hasina government in Bangladesh on August 5 last year.

 

SPORTS 

 

1. Shami joins elite list of bowlers with 200 ODI wickets: India’s ace pacer, Md Shami, added a historic milestone to his name as he took three wickets in India’s first match against Bangladesh in the ICC Champions Trophy 2025 in Dubai on, completing 200 wickets in ODI cricket.Shami is the eighth Indian player to reach this milestone. Ravindra Jadeja, with 224 wickets under his belt, is the only active Indian cricketer ahead of him on the list.While Shami has completed his 200 ODI wickets at a good pace, he is still 43rd on the list of players with the most ODI wickets overall.

Sri Lankan legend M Muralidaran leads the list with 534 wickets, while Anil Kumble, with 334 wickets, is the highest-ranked Indian player.

 

BANKING AND FINANCE

 

1. RBI imposes penalty on Citibank, Asirvad Micro Finance, JM Fin Home Loans: The Reserve Bank of India (RBI) has imposed monetary penalties on Citibank, Asirvad Micro Finance, and JM Financial Home Loans for violating regulatory norms.The central bank fined Citibank Rs 39 lakh for reporting breaches in ‘Large Exposures’ limits with delay and not uploading rectified data in certain segments within seven days of receiving rejection reports from Credit Information Companies (CICs).Meanwhile, Asirvad Micro Finance failed to report the household income of certain borrowers to CICs. It also failed to provide factsheets to certain gold loan customers and did not establish a system of auto-escalation for all complaints that were partly or wholly rejected by its internal grievance redress mechanism to the internal ombudsman for a final decision. These deficiencies led to the RBI imposing a penalty of Rs 6.20 lakh on the company.The action was based on supervisory findings following a statutory inspection of the companies for their financial position as of March 31, 2023.

 

2. NSDL, CDSL launch Unified Investor App: National Securities Depository (NSDL) and Central Depository Services (CDSL), in collaboration with capital market regulator Sebi, have launched the Unified Investor App (UIP), integrating MyEasi by CDSL and SPEED-e by NSDL.This platform provides investors with a consolidated view of their financial statements, shareholdings, and investments, and financial statements.A key benefit of this initiative is the ability to access a consolidated view of demat securities across both NSDL and CDSL accounts. Investors no longer need to juggle between different platforms to monitor their holdings. This not only simplifies portfolio management but also ensures greater transparency by providing a unified dashboard for all securities.The platform also tackles major challenges by eliminating fraudulent intermediaries through direct data sourcing from exchanges, depositories, and clearing corporations.

 

3. MobiKwik to acquire 3.39% in B2B infra platform Blostem for Rs 1.49 crore: Fintech firm MobiKwik will acquire a 39 per cent stake in business-to-business (B2B) banking infrastructure platform Blostem for ₹1.49 crore.The aggregate shareholding of the Gurugram-based listed firm in the platform is expected to grow to 6.79 per cent after the deal.MobiKwik had entered into a share subscription and shareholders’ agreement with Blostem in March. It agreed to invest ₹3 crore in two tranches as part of its investment to acquire equity in the B2B platform.The first tranche of ₹5 crore was paid in March for 3.4 per cent of the fully diluted paid-up capital of Blostem.Founded in 2021, Blostem specialises in fixed deposit (FD) aggregation as its core offering. The company has built partnerships with multiple banks and non-banking financial companies (NBFCs). For the year-ended March 2024, the company posted a revenue of Rs. 30.76 lakh.

 

AWARDS AND HONOURS

 

1. Sunil Bharti Mittal receives Honorary Knighthood by British High Commission: Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises, has received the insignia of the Knight Commander of the Most Excellent Order of the British Empire (KBE).This honor follows the announcement in 2024 that His Majesty The King had graciously conferred the Honorary Knighthoodupon Mittal for his significant contributions to UK-India business relations, as stated by the British High Commission in New Delhi.The KBE is one of the highest honors awarded to foreign nationals in recognition of exceptional contributions to various fields, and Mittal’s leadership has undoubtedly had a profound impact on India-UK relations.