Daily GK Update- 8th Mar, 2025

 NATIONAL UPDATES:

 

1. Karnataka to rename Bengaluru City University after Manmohan Singh in his honour: Karnataka Chief Minister Siddaramaiah announced during his budget speech in the Legislative Assembly that Bangalore City University will be renamed Dr Manmohan Singh Bengaluru City University, in honor of the former Prime Minister of India, who passed away on February 26.The move is aimed at transforming the institution into a model university in the country.Manmohan Singh, India’s 13th Prime Minister, was known for his role in economic liberalization and financial reforms, which played a crucial part in shaping modern India’s economy.His contributions to education, economy, and governance were widely recognized, and Karnataka’s decision to rename the university after him is seen as a tribute to his legacy.

 

2. DPIIT and Mercedes-Benz India sign MoU to boost manufacturing, road safety, and sustainability: The Department for Promotion of Industry and Internal Trade (DPIIT) and Mercedes-Benz India Private Limited have signed an MoU to advance India’s manufacturing ecosystem, road safety, and environmental sustainability.The partnership aims to support startups, innovators, and entrepreneurs in achieving technological excellence and, fostering societal development.The collaboration will focus on creating structured programs that provide startups with infrastructure, mentorship, funding opportunities, and market linkages.MD of Mercedes-Benz India – Santosh Iyer.

 

3. CIL joins hands with IIT, Hyderabad for R&D in clean coal tech: Coal India Limited (CIL) has inked an MoU with Indian Institute of Technology, Hyderabad (IIT-H) for establishing a Centre of Clean Coal Energy and Net Zero (CLEANZ) at Hyderabad.The joint initiative between CIL and IITH aims to develop clean coal technologies and diversification in coal utilization.Both the entities will synergize their efforts in developing cutting edge technology readiness level (TRL) for sustainable utilization of Indian coal. This is in line with the country’s Net Zero commitments.

 

4. Govt notifies scheme to make cooperative sugar mills loan eligible: The Government of India has introduced a modified Ethanol Interest Subvention Scheme to help Cooperative Sugar Mills (CSMs) convert their existing ethanol plants into multi-feedstock plants, allowing them to use grains like maize and damaged food grains (DFG) for ethanol production.The government will provide interest subvention on loans taken for the conversion. It will cover 6% interest per year or 50% of the rate charged by banks, whichever is lower, for a period of five years, including one year of moratorium.By converting to multi-feedstock plants, sugar mills can operate year-round instead of only during the 4-5 month sugarcane crushing season. This will help improve their efficiency and productivity.The scheme aims to enhance the financial viability of sugar mills by allowing them to function throughout the year, using alternative feedstocks, thus reducing their dependence on seasonal sugarcane availability.

 

Dr. Anju Rathi Rana Appointed As Secretary, Department Of Legal Affairs: The Appointments Committee of the Cabinet has approved the appointment of Anju Rathi Rana, ILS, as the Secretary, the Department of Legal Affairs, Ministry of Law and Justice.She will assume the role for an initial period of two years from the date she takes charge or until further orders, whichever is earlier.Rana, who previously served as Additional Secretary in the Department of Legal Affairs, brings extensive experience in legal administration and policymaking. Her appointment is expected to strengthen the department’s role in providing legal advice to the government and overseeing key legislative matters.

 

INTERNATIONAL UPDATES:

 

1. LIC Ranked World’s 3rd Strongest Insurance Brand: Life Insurance Corporation of India (LIC) has been ranked third among the world’s strongest insurance brands, achieving a Brand Strength Index (BSI) score of 88 out of 100, as per the Brand Finance Insurance 100 2025 report.Poland-based PZU secured the top spot with a BSI score of 94.4, followed by China Life Insurance, which ranked second with a BSI score of 93.5.In terms of overall brand value, LIC holds the 12th position among the most valuable insurance brands globally, while SBI Life ranks 76th, making them the only two Indian insurers in the top 100.As per the Brand Finance report, the top 100 insurance brands have grown 9 per cent in brand value in 2025, driven by improved underwriting results, higher investment income, rising interest rates, and increased profitability.

 

2. 8 March – International Women’s Day: International Women’s Day (IWD) is celebrated globally on March 8 each year to honour women’s achievements and advocate for gender equality.It is a day to recognize women’s contributions in various fields, highlight ongoing struggles, and push for a more inclusive and equitable world.Theme 2025 – For All Women and Girls: Rights, Equality, and Empowerment.IWD traces its roots to the early 20th-century labor movements. The first National Women’s Day was observed in the U.S. on February 28, 1909, inspired by protests for better working conditions.

 

OTHER UPDATES:

DEFENCE

 

1. Ministry of Defence signs $ 248 million Deal for procurement of engines for T-72 Tanks for Indian Army: The Ministry of Defence has signed a USD248 million contract with Russian defence firm Rosoboronexport (RoE) to procure 1,000-horsepower (HP) engines for T-72 battle tanks in fully-assembled, completely knocked-down, and semi-knocked-down conditions.The deal includes the Transfer of Technology (ToT) from the Russian defence manufacturer to Chennai-based Armoured Vehicles Nigam Limited (Heavy Vehicle Factory), for integration and subsequent licenced production of engines under ToT to boost the ‘Make in India’ initiative in the defence sector.T-72 is the mainstay of tank fleet of the Indian Army which is at present fitted with 780 HP Engine. Equipping the existing fleet of T-72 Tanks with 1000 HP Engine will enhance the battle field mobility and offensive capability of Indian Army.

 

SPORTS 

 

1. BCCI appoints Rajeev Shukla and Ashish Shelar to Asian Cricket Council Board: Board of Control for Cricket in India (BCCI) vice-president Rajeev Shukla will represent India as an Executive Board Member on the Asian Cricket Council (ACC) Board.Shukla will take over a vacant spot that emerged after Jay Shah stepped down as president of the governing body of continental cricket.Meanwhile, former BCCI treasurer Ashish Shelar has been appointed as the BCCI representative on the ACC Board as an Ex-Officio Board Member.Jay Shah vacated the ACC presidency in December 2024 after serving three consecutive terms. The Indian cricket administrator, who was also the BCCI secretary, was elected unopposed as the International Cricket Council (ICC) chairman.Shah officially assumed the ICC chairman role on December 1, 2024.Following Jay Shah’s departure, Sri Lanka Cricket Board chief Shammi Silva took over as the president of the Asian Cricket Council.The upcoming edition of the Asia Cup, which will be played in the T20 format, is scheduled to take place in the UAE in September 2025.

 

2. Sunil Chhetri returns to Indian team for FIFA Window matches: The All India Football Federation has announced that former Indian captain Sunil Chhetri is all set to return to the national team for the FIFA International Window matches against Maldives and Bangladesh this month.Earlier, Chhetri had announced retirement from international Football, having played his last game against Kuwait in June last year.However, Chhetri’s return comes at a pivotal moment ahead of the AFC Asian Cup Saudi Arabia 2027 Qualifiers Third Round. India will play a friendly match against the Maldives on the 19th of March in Shillong, before hosting Bangladesh at the same venue in their opening qualifier.

 

BANKING AND FINANCE

 

1. HDFC Bank launches Project HAKK to support IAF veterans: HDFC Bank has launched Project HAKK (Hawai Anubhavi Kalyan Kendra) to provide support and services to Indian Air Force (IAF) pensioners, veterans and their families.The bank, in association with CSC Academy (promoted by Common Service Centre E-Governance Limited), will provide skill development and training across financial products and services, empowering defence service veterans and next of kin to be financially independent.

 

2. PhonePe launches ‘Insuring HEROES’ campaign for International Women’s Day: PhonePe has launched the ‘insuring HEROES’ campaign on the occasion of International Women’s Day.As part of the initiative, the company is offering exclusive discounts of up to 30 per cent, specifically for women, on select term life and health insurance plans.Women can avail of these exclusive offers on the PhonePe app to ensure their overall economic well-being and enjoy long-term stability.Discounts include up to 15 per cent off on health insurance plans, and up to 30 per cent off on term life insurance plans.

 

3. SIDBI, Federal Bank join hands to boost MSME financing: The Small Industries Development Bank of India (SIDBI) and Federal Bank have signed an MoU to provide financial support to micro, small, and medium enterprises (MSMEs).This partnership aims to strengthen the MSME ecosystem by offering various financial services, including project finance, machinery and equipment finance, working capital support, and loans against property.Under this agreement, both institutions will also explore joint financing options to extend credit facilities to MSMEs.

 

Daily GK Update- 7th Mar, 2025

 NATIONAL UPDATES:

 

1. Cabinet approves development of Ropeway Project from Sonprayag to Kedarnath in Uttarakhand: Union Cabinet has approved the development of two major ropeway projects in Uttarakhand under the National Ropeways Development Programme – Parvatmala Pariyojana.The 12.9 km ropeway from Sonprayag to Kedarnath and the 12.4 km ropeway from Govindghat to Hemkund Sahib will significantly reduce travel time.The project will be developed on Design, Build, Finance, Operate and Transfer (DBFOT) mode at a total capital cost of Rs. 4,081.28 crore.The ropeway is planned to be developed in public-private partnership and will be based on the most advanced Tri-cable Detachable Gondola (3S) technology with a design capacity of 1,800 passengers per hour per direction (PPHPD) carrying 18,000 passengers per day.The ropeway project will be a boon to the pilgrims visiting Kedarnath as it would provide an environment-friendly, comfortable and fast connectivity and reduce travel time in one direction from about 8 to 9 hours to about 36 minutes.

 

2. Cabinet nod to livestock disease control programme with Rs 3,880 cr outlay: The Union Cabinet has approved the revision of the Livestock Health and Disease Control Programme (LHDCP), with an outlay of ₹3,880 crore for two years.The scheme aims to improve the animal health sector by implementing prophylactic vaccination programmes against various diseases of livestock and poultry, capacity building, disease surveillance, and strengthening the veterinary infrastructure.The scheme has three components, namely the National Animal Disease Control Programme (NADCP), LH&DC and Pashu Aushadhi. The Pashu Aushadhi is a new component added to the LHDCP scheme. The total outlay of the scheme is Rs 3,880 crore for two years, i.e., 2024-25 and 2025-26.

 

3. The programme also has three sub-components, namely: Critical Animal Disease Control Programme (CADCP), Establishment and Strengthening of Existing Veterinary Hospitals and Dispensaries – Mobile Veterinary Unit (ESVHD-MVU) and Assistance to States for Control of Animal Diseases (ASCAD).

 

4. CCI approves Shell’s 100% acquisition of Raj Petro Specialitie: The Competition Commission of India (CCI) has approved the proposed acquisition of 100% equity share capital of Raj Petro Specialities Private Limited by Shell Deutschland GmbH and Shell Overseas Investments B.V.The proposed combination envisages acquisition of 100% equity share capital of Raj Petro Specialities Private Limited (Raj Petro Specialities), by Shell Deutschland GmbH and Shell Overseas Investments B.V.Shell Plc is the ultimate parent company of the Shell Group of companies. Shell Group is a global group of energy and petrochemical companies, active in oil and gas exploration, production, manufacturing, marketing and shipping of oil products and chemicals, as well as renewable energy products.

 

5. Govt launched model women-friendly gram panchayats nationwide: The Ministry of Panchayati Raj has launched a groundbreaking initiative aimed at fostering gender-sensitive governance at the grassroots level.The initiative, which focuses on the development of Model Women-Friendly Gram Panchayats (MWFGP), unveiled at a National Convention, at Vigyan Bhawan, New Delhi.This event, a key part of the Ministry’s International Women’s Day 2025 celebrations, seeks to ensure safety, inclusivity, and gender equality for women and girls in Gram Panchayats across the country.The initiative aims to establish at least one Model Women-Friendly Gram Panchayat in each district, setting a benchmark for gender-sensitive and girl-friendly governance. These model panchayats will reflect Prime Minister Narendra Modi’s vision of fostering safer and more inclusive rural communities, contributing to the broader goal of Viksit Bharat through Viksit Panchayats.

 

6. Cheetah reintroduction plan to be expanded to Gujarat : After Madhya Pradesh’s Kuno National Park, cheetah introduction will be expanded to Banni Grasslands in Gujarat and Gandhisagar Sanctuary of Madhya Pradesh.African cheetahs were reintroduced at Kuno National Park in two batches in September 2022 and February 2023.Banni Grasslands is a 2,500 sq km protected forest in the Kutch district of Gujarat that supports numerous animal genetic resources like Bannibuffalo, Kankrej cattle, sheep, goats, camels, and horses.The grassland is a breeding and nesting ground for more than 250 bird species, including resident and winter migratory birds.Gandhisagar Sanctuary in eastern Madhya Pradesh spreads over Mandsaur and Neemuch districts. It is known as Nimar region, with borders touching Rajasthan and is more or less dry.The sanctuary is spread over the area surrounding Gandhisagar dam backwater, and is known for some rare wildlife species like wild dogs (dholes), chinkaras, leopards, otters and crocodiles.

 

7. Tata Motors begins India’s first hydrogen truck trials for net-zero goal: In a landmark development towards India’s vision of achieving net-zero emissions by 2070, Tata Motors, the country’s largest commercial vehicle manufacturer, has launched the first-ever trials of hydrogen-powered heavy-duty trucks.The trial phase will span up to 24 months and involves the deployment of 16 advanced hydrogen-powered vehicles with varying configurations and payload capacities.These trucks, equipped with new-age hydrogen internal combustion engines (H2-ICE) and fuel cell (H2-FCEV) technologies, will be tested on India’s most prominent freight routes, including those around Mumbai, Pune, Delhi-NCR, Surat, Vadodara, Jamshedpur, and Kalinganagar.Tata Motors was awarded the tender for this trial, which is funded by the Ministry of New and Renewable Energy under the National Green Hydrogen Mission. It marks a significant step forward in assessing the real-world commercial viability of using hydrogen-powered vehicles for long-distance haulage as well as setting up the requisite enabling infrastructure for their seamless operation.

 

8. Sahitya Akademi organised “Festival of Letters” 2025: Sahitya Akademi, India’s premier literary institution working under the Ministry of Culture, Government of India, will be organizing its annual Festival of Letters at Rabindra Bhavan in New Delhi from 7th March 2025 to 12th March 2025.Union Minister for Culture and Tourism Gajendra Singh Shekhawat, has inaugurated the festival.Sri Mahesh Dattani, eminent English Playwright will be the chief guest of the award ceremony in which the prestigious Sahitya Akademi Awards in 23 languages will be presented and Sri Upamanyu Chatterjee, eminent Writer and Scholar will deliver this year’s Samvatsar Lecture.This is Asia’s Largest Literature Festival with about 700 writers from different parts of the country representing more than 50 languages participating in the festival that spans over 100 sessions. The theme of the festival will be Indian Literary Traditions and a National Seminar on the topic featuring eminent thinkers and writers will be organized during the last three days of the festival.

 

INTERNATIONAL UPDATES:

 

1. Bhupender Yadav inaugurates World Sustainable Development Summit 2025: Union Minister for Environment, Forest, and Climate Change, Bhupender Yadav has inaugurated the World Sustainable Development Summit (WSDS) 2025 in New Delhi.The summit-themed Partnerships for Accelerating Sustainable Development and Climate Solutions was Organised by The Energy and Resources Institute (TERI).The event was attended by distinguished dignitaries, including Prime Minister of Guyana, Brigadier Mark Phillip, and Brazil’s Minister of Environment and Climate Change, Marina Silva, were present at the event.

 

2. India ranks 4th globally with 85,698 super rich, behind US, China and Japan: India has emerged as a leading global wealth hub, with a current population of 85,698 High Net-Worth Individuals (HNWIs), placing it fourth globally, behind only the US, China, and Japan, according to the latest Global Wealth Report by property consulting firm Knight Frank.The number of HNWIs—defined as individuals with at least US$1 million in investable assets—rose by 4.4% globally in 2024, reaching over 2.3 million people. Notably, the population of ultra-high-net-worth individuals (UHNWIs), those with assets exceeding US$100 million, surpassed 100,000 for the first time, reflecting a broader trend of growing wealth across the world.America continues to dominate as the world’s primary wealth creator, with nearly 40% of global HNWIs residing in the US, a figure far surpassing China, which holds 20%, and Japan, which accounts for just over 5%.

 

3. Antarctic Circumpolar Current: The ACC is the world’s strongest ocean current. It connects the Atlantic, Pacific, and Indian Oceans. It is five times more powerful than the Gulf Stream. This current plays important role in redistributing heat, water, and nutrients across the globe. It influences weather patterns and climate stability. Melting ice sheets introduce fresh water into the ocean. This influx alters salinity levels, which disrupts the flow of the ACC. The balance of the ocean is delicate. Changes in the ACC could lead to increased climate variability and extreme weather events. The ocean’s ability to act as a carbon sink may also diminish, exacerbating global warming.

 

OTHER UPDATES:

DEFENCE

 

1. India Signs Deal for T-72 Tank  Engines Upgrade: In move to enhance its military capabilities, the Indian Ministry of Defence has signed a contract with Rosoboronexport of Russia. This $248 million deal involves procuring 1,000 HP  engines for T-72 tanks. The agreement also includes the transfer of technology to Indian manufacturers. This initiative aligns with India’s “Make in India” programme, aimed at boosting domestic defence production. Equipping the T-72 tanks with more powerful engines will enhance their battlefield performance. The upgrade is essential for maintaining operational effectiveness in modern combat scenarios. The T-72’s improved mobility will allow for better manoeuvrability during military operations.

 

SPORTS 

 

1. Steve Smith retires from ODI cricket: Australian cricket legend Steve Smith has officially announced his retirement from One-Day Internationals (ODIs), marking the end of an illustrious 14-year career in the 50-over format. He will continue to be available for Test and T20I selection.Smith’s decision came just after Australia’s semi-final defeat to India by four wickets in the ICC Champions Trophy, where Smith top-scored with 73 runs in what turned out to be his final ODI innings.The 35-year-old batter leaves behind an impressive legacy. Across 170 ODIs, scoring 5800 runs at an average of 43.28 and a strike rate of 86.96, including 12 centuries and 35 half-centuries. He finished his career as the 12th-highest run-getter for Australia in ODIs. Having made his debut as a leg-spinning allrounder, he also picked 28 wickets and took 90 catches.He captained Australia in 64 matches, winning 32 and losing 28.

 

SCIENCE AND TECHNOLOGY

 

1. Vitiligo and Gut Bacteria: Recent studies have brought into light the connection between gut-friendly bacteria and the treatment of vitiligo, a chronic autoimmune disorder characterised by loss of skin pigmentation. This condition affects portion of the global population, leading to both cosmetic concerns and psychological distress. Early intervention is crucial for effective treatment. Vitiligo typically manifests in two peaks – during adolescence and in individuals aged 40 to 50. The severity of the condition is often greater in individuals with darker skin tones, amplifying the emotional distress associated with visible discolouration. Stabilising the disease could lead to improvements in quality of life for affected individuals.

 

2. Quantum Computing and National Security: Recently, NITI Aayog established the NITI Frontier Tech Hub to enhance India’s capabilities in this field. A strategic paper was released detailing the implications of quantum computing on national security. This document marks how quantum technology will reshape various sectors and enhance security measures. It involves developing hardware and software that operate using quantum bits or qubits. Unlike classical bits, qubits can exist in multiple states simultaneously due to superposition. This property allows quantum computers to perform complex calculations more efficiently.

 

BANKING AND FINANCE

 

1. SEBI’s total income rises 48% to ₹2,075 crore in 2023-24: Capital markets regulator SEBI’s total income rose 48% year-on-year to ₹2,075 crore in 2023-24, driven by increased earnings from fees and subscriptions.Of the total income, the regulator earned a fee income of ₹1,851.5 crore, which was way higher than ₹1,213.22 crore garnered in the preceding financial year, according to Sebi’s annual statement of accounts 2023-24.Additionally, income from investments widened to ₹41 crore from ₹161.42 crore and other income increased to nearly ₹18 crore from close to ₹15 crore.

Overall, the market watchdog’s total income rose to ₹2,075 crore in the financial year ended March 31, 2024 from ₹1,404.36 crore in the preceding fiscal, indicating a growth of 48%, the annual accounts showed.Apart from total income, the total expenditure of the regulator rose to ₹1,006 crore for the year ended March 31, 2024, from ₹33 crore in the previous fiscal.

 

2. CredResolve Secures $1.1 Million in Seed Funding Led by UNLEASH Capital to Revolutionize Debt Recovery with AI: Gurugram-based AI-powered collections platform CredResolve raised $1.1 million in a seed funding round led by Japanese venture capital firm UNLEASH Capital Partners, with additional participation from CDM Capital.This funding is set to accelerate CredResolve’s mission of transforming debt recovery in India through artificial intelligence and regulatory-driven automation.Founded in August 2023 by Balaji Koustubha, G Prashant Kumar, and Vijay Kumar, CredResolve is redefining the collections ecosystem by integrating AI with borrower engagement strategies.Unlike traditional debt collection models, the platform enhances efficiency through automated recovery workflows, improved borrower communication, and compliance with RBI regulations.

 

AWARDS AND HONOURS

 

1. Suborno Bose Receives Lifetime Achievement Award for Hospitality and Education: Suborno Bose, Chairman of the International Institute of Hotel Management (IIHM), one of India’s foremost hospitality educators and a visionary in integrating technology with hospitality, has been honoured with the ‘Lifetime Achievement in Hospitality and Education Through Technology’ award by Union Tourism Minister Gajendra Shekhawat.The award was conferred at the Vibrant Bharat Global Summit 2025, an event organized by Bharat 24, one of the country’s leading language media networks.This prestigious recognition marks a significant milestone in Dr. Bose’s relentless efforts to revolutionize hospitality, tourism, and education through technology, particularly artificial intelligence (AI).

 

2. PM Modi conferred ‘Honorary Order of Freedom of Barbados’: Union Minister Pabitra Margherita accepted the ‘Honorary Order of Freedom of Barbados’ on behalf of Prime Minister Narendra Modi.The award was given by Barbados President Dame Sandra Mason to recognize PM Modi’s leadership and support during the COVID-19 pandemic.The ceremony took place at Government House in Bridgetown and was attended by Barbadian Prime Minister Mia Amor Mottley, Foreign Minister Kerrie Symmonds, and other dignitaries.The award was announced on November 20, 2024, at the India-CARICOM Leaders’ Summit in Guyana. At the summit, PM Mottley praised PM Modi for his role in global cooperation and providing crucial support during the crisis.

 

Daily GK Update- 6th Mar, 2025

 NATIONAL UPDATES:

 

1. India and Nepal Sign Memorandum of Understanding to Strengthen Cooperation in Water, Sanitation, and Hygiene (WASH) Sector: The Government of India and the Government of Nepal signed a Memorandum of Understanding to enhance cooperation in Water, Sanitation, and Hygiene (WASH) sector, including waste management.The agreement aims to promote collaboration between the two nations and strengthen intergovernmental cooperation in the WASH sector, ensuring better access to clean drinking water and sanitation for their populations.

 

2. The comprehensive MoU outlines a collaborative framework encompassing several key areas: – Capacity Building: Training programs for Nepali personnel in water resource management and related fields.Technology & Knowledge Transfer: Sharing of technological expertise and best practices between India and Nepal in WASH sector.Groundwater Management: Joint efforts in monitoring, assessment, and management of groundwater resources, including quality improvement, artificial recharge, and rainwater harvesting.PM Modi inaugurates Vantara in Jamnagar, feeds lion cubs, giraffes: Prime Minister Narendra Modi has inaugurated Vantara, a unique wildlife conservation, rescue and rehabilitation initiative in Jamnagar, Gujarat.The initiative provides a safe haven for animals while promoting ecological sustainability and wildlife welfare.It is established by Reliance Industries with Reliance Foundation

 

3. India’s river dolphin population stands at 6,327, survey finds: India’s first-ever riverine dolphin estimation report has recorded 6,327 dolphins across 28 rivers in eight states. Uttar Pradesh recorded the highest number, followed by Bihar, West Bengal, and Assam.Prime Minister Narendra Modi released the report during his visit to Gir National Park in Gujarat, where he chaired the 7th meeting of the National Board for Wildlife.The dolphin population survey, conducted under Project Dolphin, spanned 8,500 kilometers across the Ganga, Brahmaputra, and Indus river systems over two years.The survey, conducted from 2021 to 2023, was a joint effort by the Wildlife Institute of India, state forest departments of Punjab, Uttar Pradesh, Bihar, Assam, Jharkhand, and Rajasthan, and non-profit organizations including Aaranyak, World Wildlife Fund, Turtle Survival Alliance, and Wildlife Trust of India.

 

4. Uttarakhand Cabinet approves implementation of Unified Pension Scheme: The Uttarakhand Cabinet, under the chairmanship of Chief Minister Pushkar Singh Dhami, has approved the implementation of the Central Government’s Unified Pension Scheme for officers and employees in the state.The Unified Pension Scheme (UPS) has been introduced as an option under the National Pension System (NPS) by the Central Government for the Central Government employees covered under NPS so that they may receive an assured payout after their retirement. The Unified Pension Scheme will be operational from April 1, 2025.

 

5. Ambuja Cements gets CCI nod for 72.8% stake acquisition in Orient Cement: The Competition Commission of India (CCI) has approved the proposed acquisition of up to 72.8 per cent shareholding in Orient Cement Ltd by Ambuja Cements Ltd, marking a significant consolidation move in the Indian cement sector.With this acquisition, Ambuja aims to strengthen its market presence by adding Orient Cement’s three manufacturing facilities in Telangana, Karnataka and Maharashtra to its portfolio. These facilities serve 10 States, ensuring a stronger regional footprint

 

6. MRF appoints Shubman Gill as brand ambassador: India batter Shubman Gill has signed a deal with renowned tyre brand MRF as his new bat sponsor.Gill was signed by his previous sponsor Ceat during his Under-19 days and the association has finally ended during the ongoing ICC Champions Trophy 2025.With his deal, Gill now follows the footsteps of his idols Sachin Tendulkar and Virat Kohli to have signed deal with MRF.

 

7. RBI appoints Ajit Ratnakar Joshi as Executive Director: The Reserve Bank has appointed Ajit Ratnakar Joshi as Executive Director (ED) who will look after Department of Statistics and Information Management and Financial Stability Department.Prior to being promoted as ED, Mr. Joshi was serving as principal adviser in Department of Statistics and Information Management.

He has over thirty years of experience in statistics, information technology, and cyber risk management. He has served as a member of the faculty at the Institute of Development and Research in Banking Technology, Hyderabad.

 

8. Ajay Bhadoo appointed as CEO of Government e Marketplace: The Government of India has appointed Additional Secretary in the Department of Commerce Ajay Bhadoo, as the Chief Executive Officer (CEO) of Government e Marketplace (GeM). He will assume this role in addition to his existing responsibilities in the Department of Commerce.An Indian Administrative Service (IAS) officer of the 1999 batch from the Gujarat cadre, Bhadoo brings over two decades of experience in policy formulation and implementation across diverse sectors, including urban infrastructure development.

 

INTERNATIONAL UPDATES:

 

1. 5 March – International Day for Disarmament and Non-Proliferation Awareness: International Day for Disarmament and Non-Proliferation Awareness is observed on March 5 every year.This day aims to raise global awareness about the importance of disarmament and the prevention of the spread of weapons, particularly weapons of mass destruction (WMDs) like nuclear, chemical, and biological weapons.

 

2. China’s Crackdown on Neijuan: Recently, Chinese Premier Li Qiang addressed the National People’s Congress, denoting the government’s commitment to combating ‘Neijuan’. This term, meaning involutionary competition, describes a cycle of diminishing returns caused by excessive competition. As China’s economy slows, the government seeks to create a sustainable business environment while addressing international criticism. Neijuan refers to intense competition that leads to reduced returns. It forces companies and individuals to exert more effort without proportional benefits. In the business context, firms engage in price wars and overproduction to maintain market share, harming profitability. For workers, it translates to longer hours and constant upskilling without a better quality of life.

 

OTHER UPDATES:

DEFENCE

 

1. JCD ties up with EPH to manufacture tank turrets: Belgium’s John Cockerill Defence (JCD), a leading global manufacturer of tank turrets, has teamed up with Electro Pneumatics & Hydraulics (EPH), a company based in Pune, India, to form a joint venture (JV).The initial focus of this partnership is the Indian Army’s Light Tank project, particularly the Zorawar tank, which is being developed by DRDO and L&T. This tank is currently in advanced testing stages, and the new JV will supply turrets for it.This collaboration is part of a larger effort to strengthen defense ties between India and Belgium, with both countries planning to sign a defense cooperation agreement by the end of 2025.In this JV, JCD will hold 60% and EPH will hold 40%. JCD will provide the technology, while EPH will handle the manufacturing. According to JCD’s CEO, Thierry Renaudin, the project aims to create a world-class turret, and at least 50% of the components must be made in India.

 

SPORTS 

 

1. Table Tennis legend A. Sharath Kamal announces retirement: Indian table tennis legend A. Sharath Kamal announced that he will retire later this month, ending a career spanning more than 22 years at the top of the sport.Sharath will bid farewell in front of friends and family in Chennai, where the WTT Star Contender event, his final tournament, will take place from March 25 to 30.His impact on the sport extends beyond his achievements, which include seven Commonwealth Games gold medals, two historic Asian Games bronze medals, and five Olympic appearances.

 

SCIENCE AND TECHNOLOGY

 

1. NASA’s Energy-Saving Measures for Voyager Spacecraft: The future of the Voyager missions relies on effective power management and the continued functionality of their remaining instruments. As they venture further into interstellar space, the data they provide will be critical for understanding cosmic phenomena and the nature of the universe. NASA’s Voyager spacecraft continue to provide invaluable data from interstellar space. As of March 2025, NASA has initiated energy-saving measures to prolong their missions. As of early 2025, Voyager 1 is over 15 billion miles from Earth, while Voyager 2 is about 13 billion miles away. Both spacecraft are still in contact with Earth via the NASA

 

BANKING AND FINANCE

 

1. Paytm introduces UPI Trading Blocks with auto payment from bank accounts: Paytm has launched a new feature in Paytm UPI called UPI Trading Blocks (also known as Single Block Multiple Debits). This feature allows automatic payments directly from bank accounts for stock trading.With this update, investors can block money in their bank accounts instead of transferring large amounts to broker apps in advance. This makes trading safer and more convenient.Built on NPCI’s UPI system, the feature ensures that users’ money stays in their bank accounts and continues earning interest until a trade happens. Once a trade is completed, the exact amount needed is deducted automatically. This reduces the need for manual transfers and makes stock trading more transparent.Currently supported for UPI handles of Axis Bank (@ptaxis) and Yes Bank (@ptyes), this feature will soon extend to other UPI handles, including those of State Bank of India (@ptsbi) and HDFC Bank (@pthdfc). It allows investors to keep funds in their bank accounts while providing a seamless and convenient way to manage and pay for trades.

 

2. Jio Financial buys out SBI’s stake in payments bank JV: State Bank of India (SBI) has decided to divest its entire 17.8 per cent stake in Jio Payments Bank Limited, a joint venture between the state-owned bank and Jio Financial Services (JFS).JFS will acquire the SBI’s stake for ₹5 crore, after which Jio Payments Bank will become its wholly-owned subsidiary. Currently, JFS holds 82.17 per cent stake in Jio Payments Bank.Jio Payment Bank is a joint venture of Jio Financial Service Limited and SBI, and it started its operation in April 2018.Jio Financial Services Limited holds 82.17% of the paid-up equity share capital of Jio Payments Bank Limited, while SBI holds 17.8 % of the shares.Chairman and MD of Jio Financial Services – Hitesh Kumar SethiaChairman and MD of Jio Payment Bank – Vinod Easwaran

 

AWARDS AND HONOURS

 

1. Chinese Architect Liu Jiakun Receives the 2025 Pritzker Architecture Prize: Chinese architect and educator Liu Jiakun has won the 2025 Pritzker Architecture Prize, the most important award in architecture. This prize honors him for combining traditional Chinese styles with modern design and for his efforts to create fair and inclusive spaces.Jiakun, who was born and still works in Chengdu, China, is the second Chinese architect to receive this award after Wang Shu in 2012.

Previous winners include Riken Yamamoto (2024), David Chipperfield (2023), and Francis Kéré (2022).Liu, 68, becomes the 54th laureate of the prize, considered akin to a Nobel in the field of architecture.The award ceremony will take place this spring at the Louvre Abu Dhabi, designed by Jean Nouvel.

 

Daily GK Update- 5th Mar, 2025

 NATIONAL UPDATES:

 

1. Govt grants Navratna status to IRCTC and IRFC: The Government of India upgraded the Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC) to the prestigious status of Navratna Central Public Sector Enterprise (CPSE).With this, IRCTC and IRFC have become the 25th and 26th Navratna among the CPSEs, respectively, marking a major milestone for the Indian Railway companies.The elevation to Navratna status grants the two companies’ greater financial autonomy, allowing it to invest up to Rs 1,000 crore without seeking government approval, thereby fast-tracking their decision-making abilities.Founded in 1986, IRFC is primarily responsible for mobilising funds for Indian Railways’ massive infrastructure expansion and modernization projects. Meanwhile, IRCTC, which was founded in 1999, provides ticketing, catering, and tourism services for the state-owned Indian Railways.

 

2. The Indian government categorizes CPSEs into three groups: Maharatna, Navratna, and Miniratna. The centre’s aim is to make these PSUs much more competitive and efficient.15th Finance Commission Releases Grants worth Rs.699 Crores for Rural Local Bodies of West Bengal: The Centre has released the 15th Finance Commission Grants for the Financial Year 202425 for Rural Local Bodies in West Bengal, which includes the second installment of Untied Grants of Rs 694.4 crore and the withheld portion of the first installment of Untied Grants of Rs 4.9 crore.According to the Panchayati Raj Ministry, these funds are for the 21 eligible District Panchayats, 326 eligible Block Panchayats and 3,220 eligible Gram Panchayats.The Untied Grants would be utilised by Panchayati Raj Institutions (PRIs) and Rural Local Bodies (RLBs) for location-specific needs under the Twenty-Nine (29) Subjects enshrined in the Eleventh Schedule of the Constitution, except for salaries and other establishment costs.

 

3. RBL Bank appoints Agrawal as president of branch banking, Pari as COO: Private sector lender RBL Bank appointed Narendra Agrawal as president and head of branch banking and retail liabilities and T S Pari as chief operations officer (COO).Agrawal has over 25 years of experience across deposits, lending, distribution, and payments. He brings strong track record of scaling businesses and driving profitable growth through digital-first approach.Agrawal will focus on deposit growth, enhancing customer experience through an omnichannel strategy, and strengthening the business’s contribution to the lender’s long-term plan.Pari, who has more than 25 years of experience in leadership roles across foreign and private sector banks, will be responsible for driving efficiencies, customer centricity, and strengthening risk management practices in core business operations.

 

INTERNATIONAL UPDATES:

 

1. Levi’s ropes in Diljit Dosanjh as global ambassador: In an iconic partnership, American clothing brand, Levi’s, has signed up Punjabi singer and actor Diljit Dosanjh to be the face of the brand.This collaboration marks a significant moment in the fashion industry, bringing together two Greatest Of All Times (G.O.A.T.) forces that resonate with the youth.This fusion of Levi’s exclusive style and Diljit’s genre-defying artistry has set the stage for a new era in fashion and music.

 

2. Christian Stocker becomes Austrian chancellor as three-party gov’t sworn in: Conservative Christian Stocker has been sworn in as Austria’s chancellor at the head of a three-party coalition government, ending five months of political deadlock that followed a far-right party’s election win.The swearing-in came days after Stocker said a “common programme” had been agreed by his Austrian People’s Party (OVP), the centre-left Social Democrats and the liberal Neos.

 

OTHER UPDATES:

DEFENCE

 

1. Dr Mayank Sharma takes charge as Controller General of Defence Accounts: Dr Mayank Sharma assumed the office of Controller General of Defence Accounts (CGDA).He is a 1989-batch officer of the Indian Defence Accounts Service (IDAS) and has had a distinguished career in the government spanning more than three decades.Dr Mayank Sharma has served in various capacities within the Government of India, including the Defence Accounts Department.

 

SPORTS 

 

1. Krishna Jayasankar becomes 1st Indian woman to cross 16m in indoor shot put: India’s Krishna Jayasankar made history at the 2025 Mountain West Indoor Track and Field Championships by becoming the first Indian woman to cross the 16-metre mark in indoor shot put. Her record-breaking throw measured 16.03 metres.The 22-year-old broke the previous Indian indoor record of 15.54 metres. Poornarao Rane set that record at the 2023 American Athletic Conference Indoor Championships.Krishna was in fourth place until the penultimate round. However, she clinched the bronze medal with her final throw. Mya Lesnar of the USA bagged the Gold while compatriot Gabby Morns claimed a sliver.Krishna’s previous best indoor throw was 15.03 metres, recorded last month at the same venue. India’s overall women’s shot put record remains 18.41 m. Abha Khatua set it at the Federation Cup 2024.

 

2. Tennis: Brandon Holt wins Bengaluru Open Title, Beats Shintaro Mochizuki in Final: In tennis, Brandon Holt of the USA clinched his second ATP Challenger singles title of the season after beating Japan’s Shintaro Mochizuki 6-3, 6-3 in the Bengaluru Open 2025 tennis tournament’s singles final.Consequently, the 26-year-old Holt became the first American winner in the Bengaluru Open history. This was the ninth edition of the ATP Challenger 125 tennis tournament.

Indian tennis player Anirudh Chandrasekar and Chinese Taipei’s Ray Ho beat Blake Bayldon and Matthew Christopher Romios 6-2, 6-4 to win the doubles title.

 

BANKING AND FINANCE

 

1. Crisil projects FY26 GDP growth to be steady at 6.5%: Crisil has forecast India’s GDP growth to be steady at 6.5 per cent. The rating agency estimated GDP growth for this fiscal at 6.5 per cent, slower than 9.2 per cent in the previous fiscal.However, growth remains close to the pre-pandemic decadal average of 6.6 per cent between fiscals 2011 and 2020 and will allow India to retain its tag of fastest growing large economy.IOB bank user can access Housing Loan Interest Certificate on DigiLocker: Indian Overseas Bank (IOB) has launched a new facility enabling customers to download their housing loan interest certificate directly from DigiLocker.This initiative eliminates the need for branch visits, providing a seamless, secure, and efficient way to access financial documents.MD & CEO of Indian Overseas Bank – Ajay Kumar Srivastava

 

2. Poonawalla Fincorp launches digital personal loan for salaried professionals: Poonawalla Fincorp Limited has launched a new fully digital personal loan product called “PL Prime Digital 24×7” targeting salaried professionals.The new offering provides instant loan approvals of up to ₹15 lakh within 15 minutes through a completely paperless process. The service is available around the clock and accessible through the company’s mobile app, website, and authorized partners.The product aims to eliminate paperwork and delays in the lending process, particularly for professionals from prime corporates requiring quick access to funds.MD & CEO of Poonawalla Fincorp – Arvind Kapil

 

AWARDS AND HONOURS

 

1. Rishabh Pant nominated for Laureus World Comeback of the Year Award: Indian cricket team’s swashbuckling batter-keeper, Rishabh Pant has been nominated for the prestigious Laureus World Sports Award 2025 in the comeback of the year category. The awards ceremony will take place in Madrid on April 21.Pant suffered the near-fatal car accident on December 30, 2022 while driving from Delhi to his hometown Roorkee. After undergoing initial treatment at a hospital in Dehradun, Pant was airlifted to Mumbai where he was under the care of the BCCI’s specialist consultant