NATIONAL UPDATES:
1. Ola Electric becomes first 2W EV manufacturer to bag PLI incentives: Ola Electric, India’s largest electric vehicle company, has achieved a significant milestone by becoming the first two-wheeler automotive electric vehicle (EV) manufacturer in India to receive incentives under the Production Linked Incentive (PLI) Scheme for Automotive and Auto Component (PLI-Auto Scheme).The company has been granted a total incentive of ₹74 crore for the Determined Sales Value of FY 2023-24 under the scheme.The company has been granted a total incentive of ₹74 crore for the Determined Sales Value of FY 2023-24 under the scheme, according to a stock exchange filing by the company.The PLI-Auto Scheme, launched by the Government of India, aims to boost domestic manufacturing in the automotive sector and promote the adoption of advanced, clean, and sustainable mobility solutions.Launched in September 2021, the PLI-Auto Scheme aims to boost domestic manufacturing in the automotive sector and promote the adoption of advanced, clean, and sustainable mobility solutions.
2. Jayant Chaudhary launches Swavalambini, a Women Entrepreneurship Programme: The Union Ministry of Skill Development and Entrepreneurship (MSDE) in collaboration with NITI Aayog has launched the Swavalambini initiative to promote women entrepreneurship in the country.The Swavalambini initiative at the Chaudhary Charan Singh University, Meerut, Uttar Pradesh, was launched by Union Minister (Independent Charge) for Skill Development and Entrepreneurship and Minister of State for Education Jayant Chaudhary.This initiative empowers female students in Higher Education Institutions (HEIs) by providing them with the necessary entrepreneurial mindset, resources, and mentorship to successfully build and scale their ventures.The Swavalambini initiative is being implemented by the National Institute for Entrepreneurship and Small Business Development (NIESBUD) and in joint partnership with NITI Aayog. NIESBUD comes under the Union Ministry of Skill Development and Entrepreneurship.
3. NDDB ties up with NGO for setting up 10,000 biogas plants across 15 states: The National Dairy Development Board (NDDB) and Bangalore-based NGO, Sustain Plus have joined forces to roll out a large-scale circular dairy programme that will install 10,000 biogas plants across 15 states in India including Uttar Pradesh, Gujarat, Madhya Pradesh and Bihar.The circular dairy programme, unveiled at the ‘Workshop on Sustainability and Circularity in Dairy Sector’ at New Delhi — hosted by the Department of Animal Husbandry & Dairying (DAHD) — aims to create climate-smart dairy villages and build scalable and sustainable farming practices across the country.In the next four years, 10,000 biogas digesters installed across multiple states are expected to generate 3 lakh tonnes of organic slurry annually, improving soil health and reducing the need for chemical fertilisers. They will also produce more than 7 million cubic meters of biogas every year, providing clean cooking fuel to 10,000 rural households.In addition, the program will enable the production of nearly 60,000 tonnes of Phosphate Rich Organic Manure (PROM) each year, replacing an equivalent quantity of chemical phosphate fertilisers, further supporting affordable and sustainable farming practices.
4. Vikas Kaushal appointed as CMD of HPCL: The government has appointed Vikas Kaushal as the Chairman and Managing Director of Hindustan Petroleum Corporation (HPCL) for five years.He has also served as the Managing Director & Country Head for five years.
5. RBI approves one-year extension for IndusInd Bank CEO Sumant Kathpalia: Reserve Bank of India (RBI) has approved the reappointment of Sumant Kathpalia as the Managing Director and CEO of the Private sector lender IndusInd Bank Ltd for one year.Kathpalia is a career banker with over 37 years of rich experience in large multi-national banks such as Citibank, Bank of America and ABN AMRO prior to joining Induslnd Bank. At IndusInd Bank, Kathpalia has been part of the core leadership team and joined the Bank 17 years ago and has been pivotal in turning the Bank around.
6. Federal Bank appoints Vidya Balan as brand ambassador: Federal Bank has appointed actor Vidya Balan its first-ever brand ambassador. This move sets progressive growth narratives for Banking in India.Vidya, who is known for breaking stereotypes and choosing substance over glamour, brings authenticity that resonates with modern Indian consumers.
INTERNATIONAL UPDATES:
1. Declining Butterfly Populations in America: Recent studies indicate decline in butterfly populations across the United States. The research marks a 22% decrease in butterfly numbers since 2000. The findings serve as a warning for broader ecological health. The first comprehensive analysis of butterfly populations in the contiguous United States reveals that butterfly numbers have been decreasing by an average of 1.3% annually since 2000. This study synthesised data from 76,957 surveys, encompassing 12.6 million butterflies. Alarmingly, the monarch butterfly population has plummeted from 1.2 million in 1997 to fewer than 10,000 recently. Insecticides are identified as the most factor in butterfly population decline. Changes in insecticide application have escalated over the years, exacerbating the already challenging conditions for butterflies. The study suggests that mitigating insecticide use could be crucial in reversing these trends.
2. Trump Proposes New Iran Nuclear Deal Negotiations: In late 2024, US President Donald Trump expressed a willingness to renegotiate the Iran nuclear deal, previously abandoned during his first term. This shift comes amid changes in Iran’s political and economic landscape, as well as evolving dynamics in the Middle East. Trump’s recent statements suggest a strategic pivot towards diplomacy, as he aims to address nuclear concerns while navigating complex regional relationships. Trump’s withdrawal was motivated by perceived failures in the JCPOA. He argued it did not adequately address Iran’s ballistic missile programme or its regional influence. This decision faced backlash from allies, with the International Atomic Energy Agency confirming Iran’s compliance. European nations attempted to uphold the deal, but US sanctions led to decline in Iranian trade.
OTHER UPDATES:
DEFENCE
1. Exercise Khanjar-XII: The 12th edition of the India-Kyrgyzstan Joint Special Forces Exercise, Khanjar-XII, is scheduled from 10 to 23 March 2025 in Kyrgyzstan. This exercise has been an annual event since 2011, alternating between the two nations. The Indian contingent comprises troops from the Parachute Regiment (Special Forces), while the Kyrgyzstan contingent includes the Kyrgyz Scorpion Brigade. The exercise aims to enhance cooperation in counter-terrorism and special operations, focusing on urban and mountainous terrains. The primary goal of Khanjar-XII is to exchange experiences and best practices in counter-terrorism operations. The exercise will develop advanced skills in sniping, complex building interventions, and mountain craft. These skills are crucial for both nations in addressing contemporary security challenges.
SPORTS
1. Mushfiqur Rahim Announces Retirement from ODIs: Former Bangladesh captain and wicketkeeper-batter Mushfiqur Rahim announced his retirement from One Day Internationals (ODIs) following the team’s early exit from the ICC Champions Trophy, hosted by Pakistan and the UAE.The 37-year-old made his ODI debut against Zimbabwe in August 2006. He retires as Bangladesh’s most-capped player in the format, having played 274 matches.Over his illustrious career, he scored 7,795 runs at an average of 36.42, including nine centuries, with a career-best score of 144. As a wicketkeeper, he took 243 catches and effected 56 stumpings.Widely regarded as a giant in Bangladesh’s ODI history, Mushfiqur Rahim first made his mark in the 2007 World Cup when he was picked ahead of veteran wicketkeeper Khaled Mashud.
2. Siddhant Banthia and Alexander Donski clinch ATP Kigali Challenger title: In tennis, India’s Siddhant Banthia and his partner Alexander Donski of Bulgaria have clinched the ATP Kigali Challenger title in Kigali, Rwanda.The Indian-Bulgarian duo defeated the third-seeded pair, Geoffrey Blancaneaux of France and Kolar Zdenek of Czechia, in the summit clash.This marks Banthia’s first ATP Challenger title. With the win, he has achieved a career-high ranking of 196 and also became the 11th Indian to break into the top 200 in the ATP doubles rankings.
3. Pranav Venkatesh becomes World Junior Chess Champion 2025: In chess, 18-year-old Indian Grandmaster Pranav Venkatesh dominated the FIDE World Junior Championship 2025 to claim the title in Montenegro.Pranav becomes the fourth Indian to win the World Junior title, following Viswanathan Anand, Pentala Harikrishna, and Abhijeet Gupta.
4. Indian Grandmaster A Chithambaram clinches Prague Masters 2025 Chess title: Indian Grandmaster Aravindh Chithambaram has clinched the Prague Masters 2025 Chess title.He finished the tournament with six points after settling for a draw against Turkey’s Ediz Gurel in the final round.
5. India triumph over New Zealand to win record third ICC Champions Trophy: In Cricket, Team India etched their name in history, lifting the ICC Champions Trophy for a record third time after a commanding victory over New Zealand by four wickets in the grand finale at the Dubai International Cricket Stadium.India had previously won the tournament in 2002 and 2013. Chasing a target of 252 runs in the summit clash, India achieved it with an over to spare.Skipper Rohit Sharma was declared Player of the Match and New Zealand player Rachin Ravindra was declared Player of the Series.The triumph marked India’s second ICC trophy in as many years, following their T20 World Cup victory last year, further cementing their dominance on the global stage.
SCIENCE AND TECHNOLOGY
1. Ajay Devgn launches ‘Prismix,’ an AI-driven media company to revolutionize content creation: Bollywood superstar Ajay Devgn launches ‘Prismix,’ an AI-driven media company to revolutionize content creationThis venture reinforces his commitment to innovation, empowering filmmakers, brands, and creators to craft high-quality, scalable, and visually compelling narratives with cutting-edge AI technology.Prismix is dedicated to bridging creativity and generative AI to transform the media landscape. From short films and series to animated graphic novels, music videos, corporate content, and social media campaigns.
BANKING AND FINANCE
1. GST Council constitute GoM to examine levy of natural calamity cess by a particular state: GST Council has constituted a Group of Ministers (GoM) to suggest recommendations for revenue mobilisation in case of natural calamities or disasters. It has reconstituted another GoM on analysis of revenue from GST.These actions have been taken on the basis of recommendation of GST Council meeting held on December 21, 2024.The GoM on revenue mobilisation in case of natural calamities or disaster will have Finance Minister of Uttar Pradesh, Suresh Khanna as convenor.The reconstituted GoM on ‘Analysis of Revenue from GST’ under Goa Chief Minister Pramod Sawant.
2. SBI launches collateral free digital SME loan for women entrepreneurs: State Bank of India (SBI) has launched a collateral free digital SME (small and medium enterprise) loan product ‘SBI Asmita’ for women entrepreneurs to help them expand their business.It also launched a ‘Nari Shakti’ platinum debit card to cater to the needs of women across various segments.A special add-on to the product is that top women entrepreneurs will be identified among borrowers of SBI Asmita to provide them with entrepreneurial and management training.The newly launched ‘Nari Shakti’ platinum debit card (made from 100% recycled plastic) is a RuPay-powered card designed exclusively for women. It offers features across segments such as entertainment, shopping, travel, lifestyle, insurance, etc.
AWARDS AND HONOURS
1. Nithin Kamath Wins EY Entrepreneur Of The Year 2024: Nithin Kamath, Founder and Chief Executive Officer, Zerodha, has been awarded the esteemed EY Entrepreneur of the Year Award 2024.A self-made entrepreneur, Nithin has not only bootstrapped Zerodha to a billion-dollar valuation but also actively supports start-ups in fintech and climate space, and advocates for social initiatives.Nithin Kamath will represent India at the global stage at the EY World Entrepreneur Of The Year Award (WEOY) in Monte Carlo to be held in June 2025.The Chief Guest, Shri Bhupender Yadav, the Honourable Union Minister of Environment, Forest and Climate Changefelicitated Nithin Kamath, KV Kamath and Dr. S Somanath along with the EOY 2024 category winners.
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