Daily GK Update- 3rd Apr, 2025

 NATIONAL UPDATES:

 

1. Thovalai’s traditional ‘Manikka Malai’ secures GI tag :The famous Kumbakonam vetrilai (Kumbakonam betel leaf) and Thovalai maanikka maalai have been given the Geographical Indications (GI) tag.The Kumbakonam betel leaf is found in the Cauvery Delta region specifically in regions like Thiruvaiyaru, Papanasam, Thiruvidaimarudhur, Kumbakonam, and Valaigaman blocks of Thanjavur and Tiruvarur.Almost after three years of submitting an application for the GI tag, the six-generation old craftsmanship has secured the tag accorded by the Ministry of Commerce and Industry.Kumbakonam betel leaves’ history can be traced back to centuries. According to details in the GI journal, besides paddy, the crops generally grown on wetlands are sugarcane and betel vine. The Thovalai maanikka maalai is a special type of garland that is made only in Thovalai.

 

2. President Droupadi Murmu Attends RBI’s 90th Anniversary Closing Ceremony: President Droupadi Murmu attended the closing ceremony of RBI’s 90th-anniversary celebrations in Mumbai, marking the culmination of a year-long event that highlighted RBI’s crucial role in India’s economic growth.Since its establishment in 1935, RBI has been the backbone of India’s financial sector, managing monetary policy, currency issuance, and banking supervision, while also driving financial inclusion and digital transformation.The anniversary celebrations included initiatives like financial literacy programs and national competitions, reinforcing RBI’s commitment to regulatory improvements, digital adoption, and a strong, stable banking system for India’s future growth.

 

3. Poonam Gupta appointed as RBI’s deputy governor: Former World Bank economist, Poonam Gupta has been appointed as the Deputy Governor of Reserve Bank of India (RBI).She will hold the position for a period of three years. At RBI, she will be replacing Michael Patra as deputy governor.Gupta currently serves as the Director General of the National Council of Applied Economic Research (NCAER).She is also a member of the Economic Advisory Council to the Prime Minister and acts as the Convener for the Advisory Council to the 16th Finance Commission.Gupta joined NCAER in 2021, bringing with her nearly two decades of experience in senior roles at the International Monetary Fund (IMF) and the World Bank in Washington, D.C.Moreover, Gupta has held teaching positions at the Delhi School of Economics, University of Maryland (USA), and as a visiting faculty member at the Indian Statistical Institute (ISI) in Delhi.

 

4. Govt appoints S Ramann as new PFRDA chairperson: The government has appointed Deputy CAG S Ramann asRamann would replace incumbent Deepak Mohanty whose term comes to an end in May 2025.The Appointments Committee of the Cabinet (ACC) has approved the appointment of Sivasubramanian Ramann, Deputy Comptroller & Auditor General, to the post of chairperson, Pension Fund Regulatory and Development Authority (PFRDA). The ACC has approved his appointment for a tenure of five years or till he attains age of 65 years.Ramann, presently serving as Deputy CAG, belongs to 1991 batch of Indian Audit & Accounts Service (IA&AS).

 

5. 2 April – World Autism Awareness Day: World Autism Awareness Day is observed on April 2nd every year to raise awareness about autism spectrum disorder (ASD) and promote acceptance and inclusion of individuals with autism.Theme 2025 – Advancing Neurodiversity and the UN Sustainable Development Goals (SDGs)The United Nations General Assembly (UNGA) created World Autism Awareness Day (WAAD) in 2007. The United Nations (UN) commemorated this important day on April 2 after it was founded.

 

6. 2 April 2025 – National Walking Day: National Walking Day is observed on the first Wednesday of April every year to encourage people to prioritize their health by incorporating walking into their daily routine. This year was observed on 2 April.Theme 2025- Save yourself from diabetes, heart diseases and cancersEstablished by the American Heart Association (AHA), the day highlights the benefits of walking for heart health, mental well-being, and overall fitness.

 

INTERNATIONAL UPDATES:

 

1. India produced 1,681 locomotives in FY25, surpassing U.S., Europe: India has emerged as a global leader in railway locomotive manufacturing, achieving a record production of 1,681 locomotives in the financial year 2024-25.This milestone surpasses the total locomotive production of regions such as the United States, Europe, South America, Africa, and Australia, reaffirming India’s growing dominance in the global railway sector.This marks an increase of 209 locomotives, or 19%, compared to the 1,472 locomotives produced in the previous financial year 2023-24.The continuous rise in locomotive production is a direct result of strategic decisions taken to strengthen the “Make in India” initiative. Between 2004 and 2014, India produced a total of 4,695 locomotives, with a national annual average of 470. In contrast, from 2014 to 2024, locomotive manufacturing witnessed a significant surge, with 9,168 locomotives produced, raising the annual average to approximately 917.

 

2. Shirley Botchwey becomes 1st African woman to assume office as Commonwealth Secretary-General: Shirley Botchwey has become the first African woman to assume the office of the Secretary General of the Commonwealth of Nations.She replaced Patricia Scotland of Dominica, who incidentally was the first woman to hold the post of Secretary General of the Commonwealth of Nations.She previously served as Ghana’s Minister for Foreign Affairs and Regional Integration from January 2017 to January 2024 and was also a member of Ghana’s National Security Council.The Secretary-General is nominated by Commonwealth leaders and can serve a maximum of two terms of four years each. The Commonwealth Secretary-General is responsible for promoting and protecting the Commonwealth’s values, representing the Commonwealth publicly and the management of the Commonwealth Secretariat.The Commonwealth of Nations is an association of 56 independent countries that were once the colonies of Great Britain.

 

3. N Chandrasekaran joins IMF advisory council on entrepreneurship & growth: N Chandrasekaran, the Chairman of Tata Sons, has been appointed as a member of the International Monetary Fund (IMF) Managing Director’s Advisory Council on Entrepreneurship and Growth.This council aims to provide insights into macroeconomic and financial policies to support innovation, entrepreneurship, and long-term economic growth.

 

OTHER UPDATES:

DEFENCE

 

1. 9K33 Osa-AK Missile System: The Indian Army’s Air Defence Corps showcased its operational readiness during a live missile-firing exercise at Gopalpur Seawards Firing Ranges on 30 March 2025. The exercise involved the 9K33 Osa-AK missile system, which achieved direct hits on all targets. This event brought into light the technical skills of the soldiers and the capabilities of the missile system.The Osa-AK is a Soviet-designed, low-altitude surface-to-air missile system. Developed in the 1960s, it was fielded by the Soviet Union in 1972. The system is known for its mobility and can operate in various terrains. It features an all-in-one vehicle setup that combines a transporter-erector-launcher with radar capabilities. This allows it to detect and engage aerial threats independently.

 

SCIENCE AND TECHNOLOGY

 

1. OpenAI’s Open-Weight Language Model: The model is expected to feature reasoning capabilities. It aims to provide developers with publicly accessible trained parameters. This move comes in response to competition from other companies in the AI sector.In machine learning, weights are numbers that help a model make predictions. The model adjusts these numbers during training to improve accuracy. In Large Language Models (LLMs), weights store the knowledge the model learns from training data. Models with more weights can understand language better.

 

BANKING AND FINANCE

 

1. FM Sitharaman launched NITI-NCAER portal on state finances: Finance Minister Nirmala Sitharaman has launched the ‘NITI NCAER States Economic Forum’ portal in New Delhi.The portal has been developed by NITI Aayog in collaboration with the National Council of Applied Economic Research.The portal is a comprehensive repository of data on social, economic, and fiscal parameters, research reports, papers, and expert commentary on state finances for a period of about 30 years. It will facilitate an understanding of macro, fiscal, demographic, and socio-economic trends and will address the ongoing need for consolidated sectoral data in one place.The portal will also provide a forum for policymakers, researchers, and others in alluding to the data for informed debates and discussions.

 

2. Federal Bank in collaboration with NPCI and Visa Launches Fed StarBiz –Credit Card Linked to ODCC Accounts: Federal Bank has launched its latest credit card product, Fed StarBiz, specifically for business customers.Designed in collaboration with the National Payments Corporation of India (NPCI) and Visa, this new credit card is designed to meet the distinct financial requirements of India’s dynamic small and medium-sized enterprises (SMEs).The launch is Federal Bank’s strategic entry into the business and commercial credit card space.

 

3. LIC Partners with ManipalCigna to Transform the Health Insurance Market: LIC, India’s largest insurer, is set to acquire up to a 50% stake in ManipalCigna Health Insurance for ₹3,500–4,000 crore, marking its entry into the booming health insurance market.Manipal Education (51%) and Cigna Corporation (49%) will reduce their shares in the joint venture to make room for LIC’s inclusion.With 1.4 million agents and a massive customer base, LIC could transform ManipalCigna, disrupting the ₹3 trillion general insurance sector where health coverage holds a 37% share.Managing health loss ratios poses a hurdle for LIC, while competitors like Star Health and Niva Bupa face tougher rivalry, pending composite licensing approval.

 

Daily GK Update- 2nd Apr, 2025

 NATIONAL UPDATES:

 

1. Govt to launch ‘Sahkar Taxi’ service across India to compete with Ola, Uber: The Indian government is set to launch a new cooperative-based taxi service called “Sahkar Taxi” across the country to offer an alternative to popular ride-hailing platforms like Ola and Uber in a market with huge growth projection.Union Minister Amit Shah announced the plan in Parliament stating that the new service will register two-wheeler taxis, rickshaws, and four-wheeler taxis.Moreover, unlike existing private company services, Sahkar Taxi will ensure that all profits go directly to the drivers, rather than large corporations.

 

2. Renault Group to take over Nissan Motor’s 51% stake in Chennai plant: Renault Group will acquire Nissan Motor’s 51% stake in Renault Nissan Automotive India (RNAIPL), taking full control of the Chennai-based joint venture.Nissan will continue to use RNAIPL as a key sourcing hub for its vehicles, including the Magnite, for both Indian and export markets.The transaction, subject to regulatory approvals, is expected to close by the end of the first half of 2025, with Nissan asserting it has no plans to exit the Indian market.

 

3. CBIC to launch E-processing for gems & jewellery trade next month: The Central Board of Indirect Taxes and Customs will introduce the electronic processing of the import and export of gems, jewellery, and machinery samples through personal carriage by air passengers.This will come into effect from the 1st of next month at specified airports. Nine airports in Delhi, Mumbai, Kolkata, Chennai, Kochi, Coimbatore, Bangalore, Hyderabad and Jaipur would allow personal carriage export of gems and jewellery.Seven airports at Delhi, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad and Jaipur would allow personal carriage import of gems and jewellery. In the case of samples or prototypes of machinery, the facility would initially be made available at the Bengaluru, Chennai, Delhi and Mumbai airportsThe Central Board of Indirect Taxes and Customs, Department of Revenue, Ministry of Finance, has introduced electronic processing of Bill of Entry/ Shipping Bill pertaining to gems and jewellery/samples/prototypes through personal carriage by air passengers from 01.05.2025 onwards at specified airports.

 

4. Nidhi Tewari appointed as private secretary to PM Modi :Indian Foreign Service (IFS) officer Nidhi Tewari has been appointed as the new Private Secretary to Prime Minister Narendra Modi.The appointment, approved by the Appointments Committee of the Cabinet, was officially announced by the Department of Personnel & Training (DoPT).Tewari is currently serving as Deputy Secretary in the Prime Minister’s Office (PMO).The 2014-batch IFS officer is from Varanasi’s Mahmoorganj area, PM Modi’s Lok Sabha constituency since 2014. She secured the 96th rank in the Civil Services Examination in 2013 and initially served as an Assistant Commissioner in Varanasi before joining the Indian Foreign Service.She has been serving as Deputy Secretary in the PMO since January 6, 2023, after initially joining as an Under Secretary in 2022.

 

5. SBI Card names Salila Pande as MD & CEO :Salila Pande has taken charge as the Managing Director and CEO of SBI Card.Prior to this role, Pande served as Chief General Manager of SBI’s Mumbai Metro Circle, leading the retail business, and held international positions such as President and CEO of SBI California and a risk management leader in Singapore.

 

INTERNATIONAL UPDATES:

 

1. Indian Consulate General in Jaffna launches Hindi language course at University of Vavuniya: The Consulate General of India in Jaffna has launched a Hindi language course at the University of Vavuniya, catering to growing interest in the language.The course was inaugurated jointly by Indian Consul General Sai Murali and Vice-Chancellor Prof. Atputharajah. The initiative aims to enhance linguistic and cultural ties between India and Sri Lanka, fostering better communication and deeper cultural exchanges.The program reflects India’s commitment to strengthening educational and people-to-people connections in Sri Lanka. With Hindi gaining popularity in the region, the course is expected to provide students with new opportunities for academic and professional growth.

 

2. Geopolitical Tensions in the Arctic Region: Climate change is accelerating the melting of Arctic ice. This process exposes natural resources like fossil fuels and rare earth elements. As ice recedes, countries are eager to exploit these resources. The Arctic holds an estimated 13% of the world’s undiscovered oil reserves and 30% of its untapped natural gas reserves. These resources are crucial for energy security and economic growth.The melting ice opens new commercial trade routes. The Northeast Passage could reduce shipping distances between East Asia and Europe. This route presents economic opportunities but requires cooperation between Russia and China. However, Russia remains cautious about granting access to its Arctic ports.

OTHER UPDATES:

DEFENCE

 

1. Defence exports surge to a record high of Rs 23,622 crore in Financial Year 2024-25: Defence exports have surged to a record high of Rs 23,622 crore (approx. US$ 2.76 billion) in the Financial Year (FY) 2024-25.A growth of Rs 2,539 crore or 12.04% has been registered in the just-concluded FY over the defence exports figures of FY 2023-24, which were Rs 21,083 crore.The Defence Public Sector Undertakings (DPSUs) have shown a significant increase of 42.85% in their exports in the FY 2024-25, reflecting the growing acceptability of Indian products in the global market and the ability of the Indian defence industry to be a part of the global supply chain

 

2. India-US tri-service exercise ‘Tiger Triumph’ commences in Visakhapatnam :The fourth edition of “Tiger Triumph,” a bilateral tri-service Humanitarian Assistance and Disaster Relief (HADR) exercise between India and the United States, commenced in Eastern seaboard in Visakhapatnam and will continue until April 13The opening ceremony of Tiger Triumph-2025 was held onboard the Indian Navy’s INS Jalashwa.The exercise reflects the deepening convergence of US-India strategic maritime interests and the countries’ defense partnership. This edition aims to further enhance interoperability and combined joint all-domain operations during large-scale.

 

3. India’s Defence Exports 2025: In the Financial Year 2024-25, India achieved milestone in defence exports, reaching ₹23,622 crore. This represents a growth of 12.04% from the previous year. The surge is attributed to increased sales of artillery shells, guns, and small arms. The growth reflects India’s expanding role in the global defence market.India’s defence exports rose by ₹2,539 crore compared to FY 2023-24. The Defence Public Sector Undertakings (DPSUs) experienced a remarkable 42.85% increase in their exports. The private sector contributed ₹15,233 crore while DPSUs contributed ₹8,389 crore to the total.

 

SPORTS 

 

1. Miami Open Champion: Teenager Jakub Mensik defeats Novak Djokovic in finals: In Miami Open tennis, Jakub Mensik has crushed Novak Djokovic’s dream to win 100th tour level title. The 19-year-old Czech beat the six-time Miami open champion in the final of the Men’s Singles in Florida, 7-6, 7-6.With this win, Mensik also became the second-youngest champion of the tournament behind Carlos Alcaraz, who lifted the trophy in 2022 as an 18-year-old.Mensik also became the first Czech player to win an ATP Masters 1000 event since Tomas Berdych triumphed in Paris in 2005.Mensik was born in September 2005 when Djokovic was already in the Top 100 of the ATP Rankings. The 18-year difference between them marked the biggest age gap in an ATP Masters 1000 final.

 

SCIENCE AND TECHNOLOGY

 

1. OpenAI’s Open-Weight Language Model: The model is expected to feature reasoning capabilities. It aims to provide developers with publicly accessible trained parameters. This move comes in response to competition from other companies in the AI sector.In machine learning, weights are numbers that help a model make predictions. The model adjusts these numbers during training to improve accuracy. In Large Language Models (LLMs), weights store the knowledge the model learns from training data. Models with more weights can understand language better.

 

2. Future Circular Collider: The FCC will consist of a 91-kilometre circular tunnel located beneath the French-Swiss border. It is designed to accelerate particles to unprecedented energy levels. The project will unfold in two phases. The first phase will feature an electron-positron collider, expected to begin operations around 2046. The second phase, starting in 2070, will involve a proton-proton collider.The FCC will leverage advanced technologies in superconducting magnets, cryogenics, and vacuum systems. These innovations could have broader applications beyond particle physics, potentially benefiting various industries and scientific research.

 

BANKING AND FINANCE

 

1. Government of India to Re-Issue Rs. 36,000 Crore in G-Secs: The Government of India in collaboration with the Reserve Bank of India (RBI), has announced the re-issuance of two Government Securities (G-Secs) through a price-based auction scheduled for April 4, 2025.This move reflects the government’s ongoing efforts to manage public debt efficiently while promoting transparency in the financial markets.The auction will include the “6.64% Government Security 2027” for a notified amount of Rs. 6,000 crore and the “6.79% Government Security 2034” for Rs. 30,000 crore. Additionally, the government can accept up to Rs. 2,000 crore in extra subscriptions for each security, underscoring its flexibility in meeting funding requirements.The auction will be conducted electronically via RBI’s Core Banking Solution platform, E-Kuber.These securities will also be eligible for “When Issued” trading under RBI guidelines, enabling market participants to trade them before their issuance date. This mechanism enhances liquidity and provides investors with greater flexibility.

 

2. Manappuram Finance Gets Board Approval to Raise Rs. 5,500 Crore: Manappuram Finance has declared a major fundraising program. The board of the company has sanctioned a proposal to raise up to Rs. 5,500 crore by issuing redeemable non-convertible debentures (NCDs).This was decided in a board meeting conducted on March 29, 2025, which is a strategic initiative to increase its capital base and aid future growth.The approved NCD issue can be carried out through private placements or public issues in one or more tranches during the financial year 2025-26. This provides Manappuram Finance with the flexibility to tailor its fund-raising approach based on market conditions and investor interest.Established in 1949, Manappuram Finance has emerged as prominent player in the gold loan industry, providing a variety of financial products and services such as microfinance, vehicle finance, and housing finance.

 

3. India’s Axis Bank, J.P. Morgan roll out anytime dollar payments for clients: India’s Axis Bank has partnered with J.P. Morgan to offer real-time U.S. dollar payment capabilities to commercial clients in the country, facilitated by Kinexys, the U.S.-based lender’s blockchain and digital assets unit.This is the first instance where an Indian company will have the flexibility to make or receive dollar payments at any time, J.P. Morgan said.Axis Bank will deliver the 24/7 dollar clearing capability for clients out of Gujarat International Finance Tec-City, or GIFT city, an international financial services center.The collaboration with Kinexys will offer “significant value” to clients by streamlining payments, unlocking liquidity and adding further optionality on cross-border payments.Currently, companies can make cross-border payments that are settled on the same day.Naveen Mallela, global co-head at Kinexys, illustrated the anytime payment capability by saying that Indian companies can now make dollar payments to Middle Eastern clients on Sundays, which are standard working days in that region.

 

AWARDS AND HONOURS

 

1. Historian MyNaa Swamy to receive Ugadi Award: Historian and archaeologist MyNaa Swamy will receive the prestigious Ugadi Award from the Andhra Pradesh government for his contributions to historical research and social service.The award, including the ‘Kalaratna’ title, ‘Hamsa’ medal, a certificate of appreciation, and a cash prize, will be presented by Chief Minister N. Chandrababu Naidu in Vijayawada.MyNaa Swamy’s research on the Vijayanagara Empire and Lepakshi Veerabhadra temple complex has uncovered over 100 previously unknown inscriptions in Telugu, Kannada, and Sanskrit.

 

Daily GK Update- 1st Apr, 2025

 NATIONAL UPDATES:

 

1. President Murmu inaugurates National Conference on Environment 2025: President Droupadi Murmu has inaugurated the National Conference on Environment held at the Vigyan Bhavan in New Delhi.The National Conference on Environment 2025 has been organised by the National Green Tribunal (NGT).The National Conference on Environment focuses on the legal aspect of Environmental laws and their proper implementation. Thus, the Conference brings together the Judges of the Supreme Court, High Court, District Court, and the policymakers- the government of India and its various ministries.

 

2. PM Modi unveils projects worth Rs 33 thousand 700 crore in Chhattisgarh: Prime Minister Narendra Modi has launched projects worth 33 thousand 700 crore rupees in Chhattisgarh.The projects are aligned with his government’s broader agenda of infrastructure expansion, housing, education, and rural empowerment.The projects unveiled by Prime Minister include three lakh new houses under the Pradhan Mantri Awas Yojana, 130 PM-SHRI schools equipped with smart classrooms and modern laboratories, a 540-km petroleum pipeline to enhance regional energy security, and an extensive network of rural roads aimed at improving connectivity in Maoist-affected areas.

 

3. Tata Group appoints Shibashish Roy as MD & CEO of Croma: Tata Group’s electronics retail chain Croma has appointed Shibashish Roy as its chief executive officer and Managing Director.Roy, who has over 20 years of experience in Tata Group companies, was named chief executive officer in November 2024 and worked alongside outgoing managing director Avijit Mitra during a transition period that concluded in March 2025.

 

4. Startup Mahakumbh 2025: The Startup Mahakumbh 2025, scheduled for April 3-5, 2025, at Bharat Mandapam, New Delhi, is initiative by the Ministry of Tribal Affairs (MoTA). This event aims to empower Scheduled Tribe (ST) entrepreneurs by providing them with a platform to showcase their innovations and connect with industry leaders. It coincides with the Janjatiya Gaurav Varsh, celebrating the 150th birth anniversary. Dharti Aaba TribePreneurs 2025 is a flagship initiative under MoTA. It marks the importance of tribal entrepreneurship in India. The event aims to encourage inclusive economic growth and self-reliance among tribal communities. It features more than 45 startups founded by ST entrepreneurs. These startups have been incubated at prestigious institutions like IIM Calcutta and IIT Bhilai.

 

INTERNATIONAL UPDATES:

 

1. GAIL to begin LNG supplies from Qatar Energy next month under five-year deal: State-owned gas utility GAIL (India) Ltd will begin receiving LNG supplies from Qatar Energy Trading next month under a five-year agreement, ensuring the delivery of 12 cargoes annually.In addition to the Qatar deal, GAIL has signed a 10-year contract with Vitol Asia for 1 MTPA of LNG from 2026 and another 10-year deal with ADNOC Gas (UAE) for 0.5 MTPA of LNG.These agreements support India’s goal of increasing the share of natural gas in the energy mix from 6-7% to 15% by 2030, aligning with national energy security and sustainability objectives.

 

2. Japan’s Megaquake Threat: The Nankai Trough is a 900-kilometre undersea fault off Japan’s Pacific coast. It stretches from Shizuoka to Kyushu. The region is tectonically active due to the subduction of the Philippine Sea Plate beneath the Eurasian Plate. This geological process creates immense strain, which can lead to powerful earthquakes.The Japanese government estimates a 70-80% chance of a magnitude 8 to 9 earthquake occurring within the next 30 years. Historical data shows that quakes recur every 100 to 200 years. The last major earthquake in this region occurred in 1946. This alarming probability puts stress on the need for preparedness.

 

OTHER UPDATES:

DEFENCE

 

1. India launches Operation Brahma to help quake hit Myanmar: The government of India has launched Operation Brahma to help the earthquake-hit victims in Myanmar. A 7.7 magnitude quake hit Myanmar on 28 March 2025, killing at least 1000 people.According to the US Geological Survey, more than 10,000 people are feared dead in Myanmar.India, under its Neighbourhood First policy and its policy of being the first responder in providing Humanitarian Assistance and Disaster Relief (HADR) has launched Operation Brahma.Two Indian Air Force C-130J aircraft carrying relief material for the quake-hit Myanmar took off from Hindon Air Force Station, Uttar Pradesh.The plane carried the first tranche of 15 tonnes of urgent humanitarian aid landed at the Yangon airport of Myanmar. A search-and-rescue team and a medical team have also been sent to Myanmar.

 

2. IAF to Participate in Multinational Air Exercise INIOCHOS-25 in Greece :The Indian Air Force (IAF) will participate in the multinational air exercise INIOCHOS-25, beginning in Greece.The 12-day exercise, hosted by Greece’s Hellenic Air Force, will take place at Andravida Air Base in a historic region of Elis. It will continue till the 11th of April.The IAF contingent will include Su-30 MKI fighters, along with combat-enabling IL-78 and C-17 aircraft.The exercise will integrate multiple air and surface assets from fifteen countries under realistic combat scenarios, designed to simulate modern-day air warfare challenges.

 

3. Recent Exercise: 14th edition of Exercise Indra between India and Russia -Chennai23rd edition of bilateral naval exercise, Varuna 2025 between India and Franc – Arabian SeaINS Ranvir participates in Exercise Bongosagar 2025 between India and Bangladesh12th edition of Exercise KHANJAR-XII between India and Kyrgyzstan – Tokmok, Kyrgyzstan7th edition of Security Belt-2025 between Russia, China and Iran – Iranian port of Chabahar near Indian Ocean

 

SPORTS 

 

1. Nihal Sarin clinches 2025 Tashkent Open Agzamov Memorial title: India’s Nihal Sarin has clinched the 2025 Tashkent Open Agzamov Memorial title in Tashkent, Uzbekistan.The 20-year-old Indian Grandmaster secured the title with an unbeaten score of 8 out of 10, outperforming a strong field that included eight players rated above 2600.With this victory, Nihal gained 7.1 Elo rating points, bringing his live rating to 2694, just a step away from the coveted 2700 mark.

 

2. Deepak Punia & Udit settle for Silver medals at Asian Wrestling Championship in Amman: In wrestling, Olympian Deepak Punia and Udit settles for silver medals at Asian Wrestling Championships in Amman, Jorda.While Deepak Punia won Silver in the Men’s freestyle 92kg weight category, Udit bagged Silver in 61kg weight division.Meanwhile, Dinesh, who went down to Mongolia’s Munkhtur Lkhagvagerel in the 125kg semis, made the most of his chance by defeating Turkmenistan’s Zyyamuhammet Saparov to bag the bronze.India have secured a total of 10 medals – one gold, three silver and six bronze at the event.

 

3. Bihar to host Men’s Hockey Hero Asia Cup 2025: Rajgir in Bihar will host the Hero Asia Cup Hockey 2025 in August of this year.Hockey India and the Bihar State Sports Authority signed a Memorandum of Understanding (MoU) in this regard at the Patliputra Sports Complex in Patna.

The tournament will take place from the 29th of August to the 7th of September at the recently developed Rajgir Hockey Stadium. This will be the second international sporting event hosted by Rajgir, after the Women’s Asian Champions Trophy in November last year, where India emerged victorious.The 12th edition of the Hero Asia Cup will witness the participation of 8 teams, including India, Pakistan, Japan, Korea, China, and Malaysia.The remaining two teams will secure their spots through the qualifying tournament, the AHF Cup. 

 

SCIENCE AND TECHNOLOGY

 

1. SpaceX Launches Historic “Fram2” Mission – First Human Spaceflight Over Polar Regions: SpaceX launched “Fram2,” the first human spaceflight to travel directly over Earth’s North and South Poles, on a privately funded mission.The mission includes groundbreaking experiments, such as taking the first X-ray in space and studying mushroom growth in microgravity.The crew consists of mission commander Chun Wang (China/Malta), vehicle commander Jannicke Mikkelsen (Norway), mission pilot Rabea Rogge (Germany), and mission specialist Eric Philips (Australia).Named after the 19th-century Norwegian exploration ship “Fram,” the mission aims to gather new data to advance long-term space exploration.

 

 

 

BANKING AND FINANCE

 

1. India’s economy projected to grow at 6.5% in FY26: EY report: India’s economy is expected to grow at 6.5% in the fiscal year 2025-26, according to the latest EY Economy Watch report.The report emphasizes the need for a well-calibrated fiscal strategy that supports human capital development while maintaining fiscal prudence to enhance long-term growth prospects.For FY25, real GDP growth is projected at 6.4%, aligning with the revised estimates by the National Statistical Office (NSO).The revised national accounts data indicate that India’s real GDP growth rates for FY23, FY24, and FY25 are estimated at 7.6%, 9.2%, and 6.5%, respectively.The third-quarter growth rate for FY25 is estimated at 6.2%, implying a required 7.6% growth in the fourth quarter to meet the annual projection.

 

2. Aditya Birla Finance merges with parent Aditya Birla Capital: The amalgamation of Aditya Birla Finance Ltd (ABFL) with its parent Aditya Birla Capital Ltd (ABCL) with effect from April 1, 2025, will lead to rationalisation and simplification of group structure, improved financial stability, and increased operational efficiency.ABCL will be converted from a Core Investment Company to an operating NBFC (non-banking finance company), and this will create a unified larger entity with greater financial strength and flexibility enabling direct access to capital.As of December-end 2024, ABCL’s aggregate assets under management of over ₹03 lakh crore, include a consolidated lending book of over ₹1.46 lakh crore and gross written premium of ₹16,942 crore in Life and health insurance businesses in nine months of FY25.

 

3. NPCI Brings New UPI Guidelines in Effect from April 1, 2025: The National Payments Corporation of India (NPCI) is set to implement new guidelines for Unified Payments Interface (UPI) transactions from April 1, 2025, to enhance security, interoperability, and overall customer experience.These are requirements for all member banks of UPI, Payment Service Providers (PSPs), and third-party app providers (TPAPs), such as leading apps like PhonePe, Google Pay, and Paytm.The new framework attempts to resolve issues related to unused or reassigned mobile numbers and improve user trust and operating efficiency.One of the most important updates is the handling of mobile numbers assigned to UPI IDs. According to the Department of Telecommunications (DoT), mobile numbers that have remained unused for 90 days can be reassigned to new customers.

 

Daily GK Update- 31st Mar, 2025

 NATIONAL UPDATES:

 

1. India’s core sector growth slows down to 2.9% in Feb as against 4.6% in January: India’s core sector growth slowed down to by 2.9 per cent in February as against 4.6 per cent in January 2025.The production of Cement, Fertilizers, Steel, Electricity, Coal and Refinery Products recorded positive growth in February, 2025.Coal production saw a modest increase of 1.7% in February, a slowdown compared to the 4.6% growth recorded in January.In contrast, crude oil production witnessed a sharper decline, contracting by 5.2% in February, a significant drop from the 1.1% contraction seen in the previous month.

 

2. NITI Aayog launches second edition of “Trade Watch Quarterly” in New Delhi: The second edition of Trade Watch Quarterly for Q2 of the financial year 2024-25 (July to September) was officially released in New Delhi by Dr Arvind Virmani, Member of NITI Aayog.Published by NITI Aayog, the report offers a comprehensive overview of India’s trade performance, analysing global demand-supply trends, sector-specific developments, and emerging opportunities in the international trade landscape.During Q2 FY’25, India recorded a steady trade growth of 5.67 per cent in the April–September 2024 period compared to the same timeframe in 2023.Notably, copper entered the top ten import categories, with a significant 28 per cent year-on-year surge, primarily driven by increased infrastructure demand. While export composition remained largely consistent with the previous quarter, electrical machinery and nuclear reactors showed notable year-on-year growth. In contrast, mineral fuels and iron & steel experienced declines.

 

3. IBA elects CS Setty as new Chairman: The managing committee of the Indian Banks’ Association (IBA) has elected State Bank of India (SBI) Chairman CS Setty as the new Chairman.The committee also elected Union Bank MD A Maninekhalai, Punjab & Sind Bank MD Swarup Kumar Saha, and Madhav Nair from Bank of Bahrain & Kuwait BSC as three deputy Chairmen.Karur Vysya Bank, MD B Ramesh Babu has been elected as honorary secretary of IBA. Earlier this month, former Punjab National Bank MD Atul Kumar Goel was elected as the CEO of IBA, succeeding Sunil Mehta.IBA is the industry body for banks, having members from across public and private sector banks. The body holds consultations between bankers and the banking regulator on areas concerning the sector.

 

4. Ajay Kapur reappointed as MD of Ambuja Cements: Ajay Kapur has been reappointed as Managing Director (MD) of Ambuja Cements Limited, a subsidiary of the Adani Group, for two years.Alongside Vinod Bahety has been appointed as the new CEO and Whole-time Director of Ambuja Cements for a three-year term.The company also appointed Rakesh Tiwary as Chief Financial Officer (CFO) and Praveen Garg as a Non-Executive Independent Director for a three-year term.

 

5. TATA AIA’s Swaminathan S. Iyer Joins IRDAI as Whole-Time Member (Life): Mumbai-based fintech and insurance professional Swaminathan S. Iyer has been appointed as a Whole-time Member (Life) of the Insurance Regulatory and Development Authority of India (IRDAI).This historic move by the Appointments Committee of the Cabinet (ACC) is the first time a private sector professional has been selected for this high-profile position, ending the long tradition of selection from the Life Insurance Corporation (LIC).Iyer, formerly Executive Vice President – Head Legal, Company Secretary, and Regulatory Affairs & ESG of Tata AIA Life Insurance, has more than 34 years of experience working in the life insurance sector. His term will be five years or until he turns 62, whichever is earlier.

 

INTERNATIONAL UPDATES:

 

1. Zaggle Acquires 51% Stake in EffiaSoft for ₹41 Crore to Boost Fintech Capabilities: Fintech SaaS company Zaggle Prepaid Ocean Services Ltd has announced the acquisition of a 51% controlling stake in Hyderabad-based billing software provider EffiaSoft Private Ltd.This deal, valued at over Rs. 41 crore, is set to strengthen Zaggle’s position in the fintech ecosystem by enhancing its merchant services and payment processing capabilities.The acquisition will be executed in two stages. Initially, Zaggle will acquire a 45.33% stake in EffiaSoft for Rs. 36.72 crore, purchasing shares from founders Koushik Shee and Akula Krishna Rao, as well as other existing shareholders.The board has also approved acquiring an additional 5.67% stake for Rs. 4.59 crore, with the mode of acquisition, cash or share swap, to be decided later. The deal values EffiaSoft at an enterprise valuation of approximately Rs. 81 crore.

 

2. India, Japan sign loan agreements worth JPY 191.73 billion for 6 projects: India and Japan have signed loan agreements worth 191.736 billion Japanese yen for six projects under Japan’s Official Development Assistance (ODA) to India.India and Japan yesterday signed loan agreements worth 191.736 billion Japanese yen for six projects in forest management, water supply, urban transport, aquaculture, biodiversity conservation and investment promotion.The six loan agreements include one for the Tamil Nadu Investment Promotion Program (Phase 3) (TNIPP-III) (JPY 36.114 billion).Also, one for Delhi Mass Rapid Transport System Project (Phase 4 Additional Corridors) (I)” (JPY 79.726 billion).Another Project is for the Construction of Chennai Seawater Desalination Plant (II)” (JPY 52.556 billion).

 

3. Fintech Startup Abound Raises $14M to Serve Indian-Americans: Abound, a fintech platform tailored for Indians residing in the United States, has raised $14 million in a seed funding round led by the NEAR Foundation. The round also saw participation from Circle Ventures, Times Internet, and other prominent investors.This marks the company’s first external funding since its incubation at Times Internet, the digital arm of The Times of India Group.The capital injection aims to propel Abound’s mission of creating a seamless financial bridge between non-resident Indians (NRIs) and their home country.CEO of Abound – Nishkaam Mehta

 

 

OTHER UPDATES:

DEFENCE

 

1. HAL signs Rs 62,700-cr deal with MoD for supply of light combat helicopters: Hindustan Aeronautics (HAL) has signed two contracts with the Ministry of Defence (MoD) for the supply of 156 Light Combat Helicopters (LCH), Prachand, along with training and other associated equipment, worth Rs 62,700 crore.The first contract is for the supply of 66 LCHs to the Indian Air Force (IAF), and the second is for the supply of 90 LCHs to the Indian Army. The supply of these helicopters will commence in the third year and will be spread over the next five years. These contracts will enhance the combat capability of the Armed Forces at high altitudes.The Defence Ministry also signed a contract with Metrea Management for the wet leasing of one Flight Refueling Aircraft (FRA) to provide air-to-air refueling training to pilots of the IAF and Indian Navy.Metrea will provide the FRA (KC-135 Aircraft) within six months, marking the first FRA to be wet-leased by the IAF.

 

SPORTS 

 

1. Manav Thakkar Becomes First Indian to Reach Final Eight of WTT Star Contender: In Table Tennis, India’s Manav Thakkar created history by becoming the first Indian to qualify for the final eight of a WTT Star Contender event.He defeated Andre Bertelsmeier of Germany, 3-2 in the men’s singles prequarterfinal at the WTT Star Contender in Chennai.Meanwhile, in women’s singles, India’s Krittwika Roy was defeated 0-3 by three-time World Championship medalist Miyu Nagasaki of Japan in the pre-quarterfinals.

 

2. Novak Djokovic becomes oldest man to reach ATP Masters 1000 semi-final: In Tennis, Novak Djokovic has become the oldest man to reach semi-final of the ATP Masters 1000.The 37-year-old Serbian achieved this feat by defeating American Sebastian Korda with an impressive 6-3 7-6 win in the quarterfinals of the Miami Open. He surpassed Roger Federer, who made the final four at Indian Wells and Miami open at the age of 37 years and seven months in 2019.

 

3. Anahat Singh & Kareem El Torkey win the Indian Open 2025 Squash Title: Indian number one-ranked women’s squash player, Anahat Singh has won the women’s singles title at the Indian Open 2025 PSA Copper event in Mumbai.This was her second consecutive title after her victory in the SRFI Indian Tour PSA Challenger event in Chennai.The men’s title was won by Egypt’s Kareem El Torkey.The $53,500 prize money Indian Open 2025 PSA Copper event was held at the iconic Bombay Gymkhana’s court in Mumbai.

 

 

 

 

SCIENCE AND TECHNOLOGY

 

1. SpaceX’s Fram2 Mission: Recently, SpaceX is set to launch the Fram2 mission. The mission will take astronauts directly over Earth’s polar regions. It aims to conduct a series of scientific experiments. These include the first X-ray in space and cultivating mushrooms in microgravity.Earth’s polar regions have largely been unexplored by astronauts. Previous missions, including Apollo, did not fly over these areas. Fram2 aims to fill this gap in space exploration. It will provide a unique perspective on Earth’s poles from orbit.

 

BANKING AND FINANCE

 

1. Interest rates on small savings schemes unchanged for April-June quarter: The government has left interest rates unchanged on various small savings schemes like PPF and NSC for the fifth consecutive quarter, starting April 1, 2025.Sukanya Samriddhi Scheme will continue to offer 8.2% interest, while the three-year term deposit rate remains at 7.1%.The Public Provident Fund (PPF) and Post Office Savings Deposit interest rates have been retained at 7.1% and 4%, respectively.The National Savings Certificate (NSC) interest rate remains 7.7%, while the Monthly Income Scheme will continue to offer 7.4% interest.The interest rates on small savings schemes are reviewed quarterly, but no changes have been made since the fourth quarter of 2023-24.

 

2. Central Bank of India Partners with PSB Alliance for Digital Supply Chain Finance: Central Bank of India has entered into a memorandum of understanding with PSB Alliance Pvt Ltd for Digital Supply Chain Finance.Under this partnership, the public sector bank will leverage the digital platform offered by PSB Alliance for end-to-end, paperless financing for supply chain participants.

 

3. Bank of Baroda Goes Live with PM-Vidyalaxmi Scheme to Boost Education Loans: Bank of Baroda has officially implemented the Pradhan Mantri Vidyalaxmi (PM-Vidyalaxmi) Scheme to provide financial assistance for higher education.Students can now apply for education loans seamlessly through the PM-Vidyalaxmi portal, enhancing accessibility and ease of processing.The bank has set up 12 Education Loan Sanctioning Cells (ELSC) and 119 Retail Assets Processing Cells (RAPC), backed by over 8,300 branches nationwide.Students can avail of collateral-free and guarantor-free education loans up to ₹5 lakh, with a 75% credit guarantee from the Government of India.Students who get admission in the top 860 identified Quality Higher Educational Institutions (QHEIs) of the nation are eligible to apply for an education loan under this scheme.