Daily GK Update- 30th Mar, 2025

NATIONAL UPDATES:

 

1. Cabinet Approves Nutrient Based Subsidy Rates For Kharif Season 2025: The Union Cabinet chaired by PM Modi has approved the proposal of the Department of Fertilisers for fixing the Nutrient Based Subsidy (NBS) rates for Kharif Season, 2025 from April 1 to September 30 on Phosphatic and Potassic fertilizers.The budgetary requirement for Kharif season 2025 would be Rs 37,216.15 crore, which is Rs 13000 crore more than the budgetary requirement for Rabi season 2024-25.BenefitsAvailability of fertilizers to farmers at subsidized, affordable and reasonable prices will be ensured.Rationalization of subsidy on P&K fertilizers in view of recent trends in the international prices of fertilizers and inputs.Besides this, Cabinet has also given its nod to inclusion of Kosi Mechi Intra-State Link Project of Bihar under Pradhan Mantri Krishi Sinchai Yojana-Accelerated Irrigation Benefits Programme.

 

2. Final Budget allocation for the Department of Fertilizers has increased to Rs. 1,91,836.29 crore: The final budget for the Department of Fertilizers in 2024-25 was raised from ₹1,68,130.81 crore to ₹1,91,836.29 crore, with the NBS scheme allocation increasing from ₹45,000 crore to ₹54,310 crore through Supplementary Demands for Grants.The government assesses state-wise and month-wise demand before each cropping season and allocates adequate supplies. The Integrated Fertilizer Monitoring System (iFMS) tracks movement, with weekly video conferences ensuring smooth distribution.In Pradhan Mantri Krishi Sinchayee Yojana, extended till 2025-26, the overall outlay of Rs. 93,068.56 crores have been approved by the Government for the period 2021-22 to 2025-26.Urea is provided at a fixed MRP of ₹242 per 45 kg bag, unchanged since 2018. Under the NBS scheme, P&K fertilizers receive subsidies, with companies setting MRPs under government monitoring.

 

3. Punjab to develop Jhajjar-Bachauli Wildlife Sanctuary for Leopard safari: The Punjab government will develop the Jhajjar-Bachauli Wildlife Sanctuary as a leopard safari destination to promote eco-tourism in the state.The Punjab Government will develop the wildlife sanctuary in the Sri Anandpur Sahib as the state’s first wildlife sanctuary of the state where the tourist will view the wildlife in its natural habitat.The state government has allocated Rs 10 crore for the Nangal project in its 2025-26 budget to develop the tourist infrastructure in the region.The Jhajjar- Bachauli Wildlife Sanctuary was declared a protected sanctuary by the Punjab government in 1998 under the provisions of the Wildlife Protection Act 1972.

 

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. 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. Recent Appointment in Foreign: President of the International Olympic Committee (IOC) – Zimbabwe’s Kirsty Coventry (first female President in IOC history).CEO of Unilever -Fernando Fernandez (replace Hein Schumacher)Director of Federal Bureau of Investigation (FBI) – Kash Patel (9th)Senior White House Policy Advisor on Artificial Intelligence by Trump – Sriram KrishnanChairperson of United Nations Internal Justice Council (IJC) – Madan B Lokur (for 4 year)

 

2. Recent Exercise: 23rd 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 Exercise Desert Hunt 2025 between Indian Navy, Indian Army and India Air Force – Indian Air Force at Air Force Station Jodhpur

 

OTHER UPDATES:

DEFENCE

 

1. Operation Brahma: Recently, Myanmar experienced a catastrophic earthquake that resulted in loss of life and widespread destruction. In response, India launched ‘Operation Brahma’ to provide urgent humanitarian assistance.Operation Brahma is a humanitarian mission initiated by the Indian Army. It involves the deployment of a specialised medical task force to Myanmar. The operation aims to provide immediate medical care to earthquake victims and support the local healthcare system, which has been overwhelmed.

 

2. Exercise INIOCHOS-25: The Indian Air Force (IAF) is participating in Exercise INIOCHOS-25. This biennial multinational air exercise is hosted by the Hellenic Air Force in Greece. Scheduled from 31 March to 11 April 2025, the exercise aims to enhance international cooperation among air forces. It focuses on simulating modern air warfare challenges.INIOCHOS-25 serves as a platform for air forces to improve skills. It facilitates the exchange of tactical knowledge. The exercise strengthens military ties among participating nations. It prepares forces for complex air operations in realistic combat scenarios.

 

 

 

 

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.

 

2. What is Semicryogenic Engine?: Recently, ISRO achieved breakthrough in space propulsion technology with the successful hot test of its Semicryogenic engine. This engine is designed to power the Semicryogenic booster stage of the Launch Vehicle Mark-3 (LVM3) and boasts a thrust of 2,000 kN. The test, conducted at the ISRO Propulsion Complex in Mahendragiri, Tamil Nadu, validated various critical subsystems and marked a very important step towards enhancing India’s space capabilities.The Semicryogenic engine uses Liquid Oxygen and Kerosene as propellants. These non-toxic and non-hazardous materials provide enhanced performance compared to the existing L110 liquid stage. The new engine, designated SE2000, is expected to increase the payload capacity of LVM3 from 4 tonnes to 5 tonnes in Geosynchronous Transfer Orbit (GTO).

 

BANKING AND FINANCE

 

1. Govt to mobilise Rs 8 lakh cr via bonds in first half of FY26. :The Centre plans to raise Rs 8 lakh crore through dated securities during April-September period of 2025-26 to fund the revenue gap.Out of gross market borrowing of Rs 14.82 lakh crore estimated for 2025-26, Rs 8 lakh crore, or 54 per cent, is planned to be borrowed in the first half (H1) through issuance of dated securities, including Rs 10,000 crore of Sovereign Green Bonds (SGrBs).Finance Minister Nirmala Sitharaman in the Budget proposed to borrow Rs 14.82 lakh crore by issuing dated securities to meet revenue shortfall in the next financial year.Fiscal deficit, the gap between the government’s total revenue and total expenditure, is estimated to be 4.4 per cent of GDP for FY26 as compared to 4.8 per cent of the GDP estimated for the current financial year. In absolute terms, the fiscal deficit is pegged at Rs 15,68,936 crore for the financial year 2025-26.To finance the fiscal deficit, the net market borrowings from dated securities are estimated at Rs 11.54 lakh crore. The balance financing is expected to come from small savings and other sources.

 

2. Kosi Mechi Intra-State Link Project: The project has received substantial financial backing from the central government. Out of the total estimated cost, Rs. 3,652.56 crore will be provided as central assistance to Bihar. This funding is crucial for the timely completion of the project and aims to alleviate water scarcity issues in the region.Once completed, the project is expected to improve agricultural productivity. It will restore irrigation supply to 1.57 lakh hectares currently served by the EKMC. Additionally, it will facilitate the diversion of approximately 2,050 million cubic metres of surplus water during the monsoon season, enhancing water availability for farming.

 

Daily GK Update- 29th mar, 2024

 NATIONAL UPDATES:

 

1. Chhattisgarh Signs MoU with Nasscom to Boost Development and Employment: The Chhattisgarh government has signed a memorandum of understanding (MoU) with the National Association of Software and Services Companies (Nasscom) to boost the state’s development and generate employment opportunities.Under its new industrial policy, Chhattisgarh has attracted investment proposals worth ~4.4 trillion.

 

2. Cabinet approves release of an additional instalment of Dearness Allowance to Central Government employees: The Union Cabinet has approved an additional instalment of Dearness Allowance (DA) to the Central Government employees and Dearness Relief (DR) to pensioners from effective from January 1, 2025.The Centre said 48.66 lakh Central Government employees and 66.55 lakhs pensioners will get 2% increase over the existing rate of 53% of the basic pay or pension. It will cost ₹ 6,614.04 crore per annum to the exchequer.

 

3. Cabinet approves Electronics Component Manufacturing Scheme for making India Atmanirbhar in electronics supply chain: The Union Cabinet chaired by PM Modi has approved the Electronics Component Manufacturing Scheme with a funding of Rs.22,919 crore to make India Atmanirbhar in electronics supply chain.This scheme aims to develop a robust component ecosystem by attracting large investments (global/domestic) in electronics component manufacturing ecosystem, increasing Domestic Value Addition (DVA) by developing capacity and capabilities, and integrating Indian companies with Global Value Chains (GVCs).The scheme envisages to attract investment of Rs.59,350 crore, result in production of Rs.4,56,500 crore and generate additional direct employment of 91,600 persons and many indirect jobs as well during its tenure.

 

4. Cabinet approves construction of 4-Lane greenfield and brownfield Patna-Arrah-Sasaram corridor (NH-119A) (120.10 km) in Bihar: The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Shri Narendra Modi, has approved the construction of 4-lane access controlled greenfield and brownfield Patna – Arrah – Sasaram corridor starting from Patna to Sasaram (120.10 km) in Bihar. The project will be developed on Hybrid Annuity Mode (HAM) at a total capital cost of Rs. 3,712.40 crore.Currently, connectivity between Sasaram, Arrah and Patna relies on existing State Highways (SH-2, SH-12, SH-81 and SH-102) and takes 3-4 hours due to heavy congestion including in Arrah town. A greenfield corridor, along with 10.6 km of upgradation of existing brownfield highway, will be developed to reduce the increasing congestion, catering to the needs of densely built-up areas in places like Arrah, Grahini, Piro, Bikramganj, Mokar and Sasaram.

 

 

INTERNATIONAL UPDATES:

 

1. Dr Jay Bhattacharya confirmed as Director of NIS of the United States: Indian-American scientist Jay Bhattacharya has been confirmed by the U.S. Senate as the Director of the National Institutes of Health (NIH), the country’s top health research and funding institutions.Bhattacharya, a professor of Health Policy at Stanford University, was confirmed by a 53-47 vote.Dr Jay Bhattacharya was nominated by Donald Trump as the 18th NIH Director after being elected as the 47th President of the US in November 2024.

 

2. 28 March – Universal Acceptance Day: Universal Acceptance Day is observed on March 28 every year to promote the idea that all domain names and email addresses should be treated equally and accepted by all internet-enabled applications and systems.Theme 2025 – Connecting the Unconnected – Building a Multilingual Internet for Viksit Bharat.Universal Acceptance is a concept that aims to ensure that all domain names, including those with non-ASCII characters, and email addresses are accepted and validated equally by all internet applications and systems.The first Universal Acceptance Day was observed on 28 March 2023, and since then, it has been celebrated every year.

 

3. Earthquake Hits Myanmar and Thailand: The National Centre for Seismology reported damage due to soil liquefaction and the earthquake’s frequency matching the natural vibrations of buildings. The earthquake’s epicentre was near Mandalay, Myanmar, and it registered a magnitude of 7.5. Aftershocks followed, complicating rescue efforts and increasing damage.Magnitude measures the energy released during an earthquake. The moment magnitude scale (Mw) is now used for accurate assessment. This scale considers the fault area and seismic wave size. It replaced the older Richter scale due to its limitations in accuracy and applicability.

OTHER UPDATES:

DEFENCE

 

1. CDS Anil Chauhan inaugurates ‘Techkriti 2025’: Chief of Defence Staff (CDS) General Anil Chauhan has inaugurated Techkriti 2025, Asia’s largest intercollegiate technical and entrepreneurial festival, at IIT Kanpur.This year’s theme, “Panta Rhei” (Everything Flows), highlights the continuous evolution of technology and innovation. Techkriti 2025 promises to be a remarkable celebration of technology, entrepreneurship and collaboration, pushing the boundaries of discovery and innovation.A special segment, ‘Rakshakriti’, a dedicated Defence Expo to showcase the cutting-edge defence technology, was a key feature of Techkriti 2025. Driving further synergy between armed forces, academia and defence industry, Gen Anil Chauhan interacted with budding technologists.

 

2. Ex Indra:14th edition of India, Russia bilateral naval exercise set to take place off Chennai :The 14th edition of the India-Russia naval exercise Indra will take place off Chennai from March 28 to April 2, 2025, reinforcing the strategic naval cooperation between the two nations.The exercise will be conducted in two phases—the Harbour Phase (March 28-30) in Chennai, featuring subject matter expert exchanges and pre-sail briefings, and the Sea Phase (March 31-April 2) in the Bay of Bengal, including tactical maneuvers and live drills.The exercise will see participation from Russian Naval Ships Pechanga, Rezkiy, and Aldar Tsydenzhapov, along with Indian Naval Ships Rana, Kuthar, and maritime patrol aircraft P8I.

 

SCIENCE AND TECHNOLOGY

 

1. What is Semicryogenic Engine?: Recently, ISRO achieved breakthrough in space propulsion technology with the successful hot test of its Semicryogenic engine. This engine is designed to power the Semicryogenic booster stage of the Launch Vehicle Mark-3 (LVM3) and boasts a thrust of 2,000 kN. The test, conducted at the ISRO Propulsion Complex in Mahendragiri, Tamil Nadu, validated various critical subsystems and marked a very important step towards enhancing India’s space capabilities.The Semicryogenic engine uses Liquid Oxygen and Kerosene as propellants. These non-toxic and non-hazardous materials provide enhanced performance compared to the existing L110 liquid stage. The new engine, designated SE2000, is expected to increase the payload capacity of LVM3 from 4 tonnes to 5 tonnes in Geosynchronous Transfer Orbit (GTO).

 

BANKING AND FINANCE

 

1. Insurers can deny health claims for alcohol-related hospitalisation: The Supreme Court has ruled that insurers can deny health insurance claims if a customer had not explicitly disclosed their alcoholism at the time of purchasing a policy.This judgment serves as a wake-up call in the insurance ecosystem. The principle of utmost good faith will bind both the insurer and the insurer.Non-disclosure could give the insurer a ground to repudiate the claim, when the claim is arising out of alcohol consumption,” said Alay Razvi, managing partner, Accord Juris.The case involved a man who bought a policy called Jeevan Arogya from Life Insurance Corporation of India (LIC) in 2013. While completing his application, he did not disclose his long-term heavy alcohol consumption.Less than a year after purchasing the policy, he was hospitalised in Jhajjar, Haryana, due to severe stomach pain. Following a month of treatment, he suffered a fatal heart attack.

 

2. Govt to mobilise Rs 8 lakh cr via bonds in first half of FY26.: The Centre plans to raise Rs 8 lakh crore through dated securities during April-September period of 2025-26 to fund the revenue gap.Out of gross market borrowing of Rs 14.82 lakh crore estimated for 2025-26, Rs 8 lakh crore, or 54 per cent, is planned to be borrowed in the first half (H1) through issuance of dated securities, including Rs 10,000 crore of Sovereign Green Bonds (SGrBs).Finance Minister Nirmala Sitharaman in the Budget proposed to borrow Rs 14.82 lakh crore by issuing dated securities to meet revenue shortfall in the next financial year.Fiscal deficit, the gap between the government’s total revenue and total expenditure, is estimated to be 4.4 per cent of GDP for FY26 as compared to 4.8 per cent of the GDP estimated for the current financial year. In absolute terms, the fiscal deficit is pegged at Rs 15,68,936 crore for the financial year 2025-26.To finance the fiscal deficit, the net market borrowings from dated securities are estimated at Rs 11.54 lakh crore. The balance financing is expected to come from small savings and other sources.

 

Daily GK Update- 28th Mar, 2025

 NATIONAL UPDATES:

 

1. UIDAI & IIIT-H launch biometric challenge to test age invariance in fingerprint algorithms: The Unique Identification Authority of India (UIDAI), in collaboration with IIIT-Hyderabad has launched a large-scale competition to test age invariance in biometric algorithms.The first phase of the Biometric SDK Benchmarking challenge focuses on fingerprint authentication, testing 1:1 matching algorithms for children aged 5-10 years, with updates after 5-10 years.UIDAI ensures that participant submissions are evaluated securely, with anonymized datasets and no sharing of data with participants.The challenge offers prizes worth Rs. 7.7 lakhs (USD 9,000) and the opportunity to collaborate with UIDAI in advancing biometric technologies.

Following the fingerprint challenge, UIDAI will also launch SDK benchmarking competitions for iris and face authentication.

 

2. Centre releases over Rs 436 crore to Karnataka and Tripura for rural development: The Union Government has released over Rs. 436 crores as the second installment of the Fifteenth Finance Commission (XV FC) Grants for rural local bodies in Karnataka and Tripura for the financial year 2024–25.In Tripura, Rs. 31.13 crores have been allocated as Untied Grants to benefit 589 eligible Gram Panchayats, along with all Block Panchayats, District Panchayats, and Traditional Local Bodies. Meanwhile, Karnataka has received Rs. 404.97 crores in Untied Grants for 5375 eligible Gram Panchayats, supporting rural local bodies across the state.These grants empower Panchayati Raj Institutions (PRIs) to address location-specific needs under the 29 subjects outlined in the Eleventh Schedule of the Constitution. The funds are dedicated to development initiatives, excluding salaries and establishment costs. The XV Finance Commission Grants are divided into two categories: Untied Grants, which support diverse local development projects and the infrastructure, and Tied Grants, which focus on critical areas like sanitation and drinking water.

 

3. Haryana CM launches AI chatbot ‘Sarathi’ for enhanced citizen engagement: Haryana Chief Minister Nayab Singh Saini has launched the state-of-the-art artificial intelligence-powered chatbot ‘Sarathi’ for the Chief Secretary’s office website.This chatbot is aimed at bringing revolutionary changes in citizen engagement by providing easy access to important government directives, notifications, and circulars published over the years.The Chatbot was developed by HARTRON (Haryana State Electronics Development Corporation Limited), This chatbot is exclusively based on the information contained in the official documents of the website.It can process and retrieve information from a vast database of over 17,820 official documents, covering 73,622 scanned PDF pages. Key documents in its knowledge base include directives, agendas, circulars, acts, policies, notifications, and government orderss

 

 

INTERNATIONAL UPDATES:

 

1. MoRD & UNICEF YuWaah Partner to Empower Rural Women and Youth: The Ministry of Rural Development (MoRD) and UNICEF YuWaah have signed a three-year partnership to boost rural employment, entrepreneurship, and skill development for women from Self-Help Groups (SHGs).Pilot projects like “Computer Didi Centers” and “Didi ki Dukan” will be launched in five states—Andhra Pradesh, Jharkhand, Madhya Pradesh, Odisha, and Rajasthan—to strengthen digital infrastructure and economic opportunities.If successful, the initiative could expand to benefit 35 lakh women across 7,000+ blocks in India, supporting rural prosperity and resilience as outlined in the 2025-26 Union Budget.The partnership will introduce a “Youth Hub” for jobs, skilling, and volunteering, while promoting “Lakhpati Didis”, a model aimed at creating successful women entrepreneurs in rural India.

 

2. Netumbo Nandi-Ndaitwah Sworn in as Namibia’s First Woman President: Netumbo Nandi-Ndaitwah, 72, was sworn in as Namibia’s first woman president, succeeding outgoing President Nangolo Mbumba in a formal ceremony.Representing the SWAPO party, which has governed Namibia for over three decades, she won 58% of the vote in the November presidential elections.Her inauguration followed the election of Saara Kuugongelwa-Amadhila as Namibia’s first female parliamentary speaker, adding to the growing list of women leaders in Africa.

 

3. 29 March 2025 – World Piano Day :World Piano Day is observed annually on the 88th day of the year, symbolizing the 88 keys on a standard piano. It celebrates the beauty, history, and significance of the instrument in music.German pianist and composer Nils Frahm founded World Piano Day in 2015 to appreciate and promote the instrument’s artistic and cultural value.

The day serves as a platform to inspire young artists, support piano education, and encourage musical.

 

OTHER UPDATES:

DEFENCE

 

1. MoD inks Rs 2,500 crore contracts for NAMIS Tracked version of anti-tank weapon platform: Ministry of Defence (MoD) has signed a contract with Armoured Vehicle Nigam Limited for the procurement of Nag Missile System (NAMIS) Tracked version of anti-tank weapon platform and Force Motors Ltd & Mahindra & Mahindra Ltd for around 5,000 Light Vehicles for the Armed Forces at a total cost of around Rs 2,500 crore.The total cost of contract for the procurement of NAMIS(Tr) weapon system, developed by Defence Research & Development Laboratory of DRDO, is Rs 1,801.34 crore.These modern vehicles are designed as per contemporary vehicle technology with enhanced engine power to cater to a payload of 800 kgs. It will provide mobility to the Armed Forces in all types of terrain and operational conditions.

 

2. DRDO successfully tests VL-SRSAM missile at Chandipur, Odisha: Defence Research and Development Organisation (DRDO) has successfully tested its indigenously designed and developed Vertical Launch Short Range Surface to Air Missile (VL-SRSAM).The test was conducted at the Integrated Test Range (ITR) in Chandipur island in Bay Bengal, off the coast of Odisha.The missile is being developed by the DRDO for the Indian Navy, and the Indian Navy personnel were involved in the testing of the missile.The DRDO-developed missile will replace the Israeli short-range surface-to-air missile, Barak-1 missile, currently deployed by the Indian Navy.

 

SPORTS 

 

1. Khelo India Para Games 2025 Concludes with Record-Breaking Performances: The Khelo India Para Games 2025 concluded at JLN Stadium, New Delhi, with Union Minister Raksha Nikhil Khadse highlighting its role as a vital platform for para-athletes, where 18 national records were shattered and over 550 medals were won across six sports.Haryana led the medal tally with 34 gold, 39 silver, and 31 bronze, followed by Tamil Nadu in second place with 28 gold, 19 silver, and 27 bronze, and Uttar Pradesh in third with 23 gold, 21 silver, and 20 bronze.The eight-day event saw over 1,300 para-athletes from across India, including strong participation from Northeastern states, competing in Para Archery, Para Athletics, Para Badminton, Para Powerlifting, Para Shooting, and Para Table Tennis.Minister Khadse launched the Handbook on Accessibility of Sports Facilities, reaffirming the government’s commitment to sports development, while praising the event’s success in showcasing para-athletes’ talent and fostering inclusivity.

 

2. Former CWG medallist Sumeeth Reddy retires: India’s doubles specialist B Sumeeth Reddy, a member of the 2022 Commonwealth Games mixed team silver medal-winning squad, has announced his retirement as an active badminton player to focus entirely on coaching.Sumeeth and Manu, who achieved the highest world ranking of 17, won the 2016 South Asian Games gold medal, qualified for the Rio Olympics, and were also part of the men’s team at the Asia Team Championships in Hyderabad.He represented India at the 2014 and 2018 Asian Games and won the 2015 Mexico City Grand Prix and 2016 Canada Open, along with finishing as runner-up at the US Open and Dutch Open in 2015.

 

SCIENCE AND TECHNOLOGY

 

1. End of Gaia Mission: Gaia is equipped with advanced technology, including twin telescopes and a digital camera with nearly a billion pixels. This makes it the largest camera ever flown in space. The spacecraft houses three key instruments – an astrometer, a photometer, and a spectrometer, enabling precise measurements of celestial objects.Over its operational period, Gaia collected 3 trillion observations of around 2 billion stars and celestial objects. Its data has led to over 13,000 scientific publications. Gaia has revealed the Milky Way’s complex structure, including its warped disc and central bulge. It has also brought into light the dynamic nature of the galaxy, showing how it changes over time due to gravitational interactions.

 

BANKING AND FINANCE

 

1. RBI to raise foreign individual investment cap in listed firms to 10%: India’s central bank is set to double to 10 per cent a cap on investment by individual foreign investors in listed companies, as it aims to boost capital inflows.Foreign portfolio investors (FPIs), pressured by poor earnings, high valuations and prospects of US tariffs, have pulled more than $28 billion out of Indian stocks since September’s record high in the benchmark NSE Nifty 50.To boost foreign investment, India is widening to all foreign investors benefits it had until now restricted to overseas Indians, while also raising applicable investment limits.The plans envisage allowing all foreign individual investors to invest a maximum of 10 per cent in a listed company, the document showed.That is up from the 5 per cent holding in an Indian company allowed to overseas Indian citizens by special rules under the Foreign Exchange Management Act (FEMA).

 

2. RBI Hosts 8th SLCC Meeting in Gangtok to Tackle Financial Frauds and Boost Literacy: The 8th State Level Coordination Committee (SLCC) Meeting was held in Gangtok, chaired by Ravindra Telang, Chief Secretary of Sikkim, and convened by Thotngam Jamang, Regional Director of RBI, to discuss financial regulations and fraud prevention, including the implementation of the BUDS Rules under the Banning of Unregulated Deposit Schemes Act, 2019.The meeting addressed the rise in digital and financial frauds reported on Helpline 1930, with Sikkim Police reporting recovery efforts, while RBI and SEBI shared insights on investor awareness programs, the Sachet portal for reporting unregulated entities, and initiatives to curb fraudulent activities.Attended by key dignitaries from RBI, SEBI, and various Sikkim government departments, the committee emphasized financial literacy outreach by RBI Gangtok.

 

3. MobiKwik to enter stock broking business, incorporates new subsidiary: MobiKwik, a fintech firm, has entered the stock broking industry by launching its wholly owned subsidiary, MobiKwik Securities Broking, with approval from the Ministry of Corporate Affairs.This will make Mobikwik a competitor to industry leaders like Zerodha, Groww, and AngelOne.The new subsidiary aims to join various stock and commodity exchanges in India and internationally, enabling MobiKwik to engage in trading shares, securities, debt instruments, commodities, currencies, and their derivatives.MobiKwik Securities Broking starts with an initial capital of Rs 1 lakh, and the parent company plans to invest an additional Rs 2 crore in phases to support its growth in the broking business.

 

 

Daily GK Update-27th Mar, 2025

 NATIONAL UPDATES:

 

1. Reliance Industries acquires 74% stake in Nauyaan Shipyard for ₹382.73 crore: Mukesh Ambani-led Reliance Industries Ltd (RIL), through its wholly owned subsidiary Reliance Strategic Business Ventures Limited (RSBVL), acquired a 100% equity stake in NTPL from Welspun Tradings Limited, a subsidiary of Welspun Corp Limited (WCL), for ₹1 lakh, making NTPL a step-down wholly owned subsidiary of RIL effective immediately.NTPL, now under RIL, has agreed to purchase a 74% stake in NSPL from WCL for ₹73 crore, with the transaction—subject to adjustments for expenses and net current assets—expected to be finalized by March 21, 2025, enhancing RIL’s shipyard operations.NSPL, established in July 2021, has an enterprise value of ₹78 crore, including ₹126.57 crore in debt and liabilities, with its total equity valued at ₹517.21 crore, and it will repay ₹93.66 crore to WCL as part of the deal, supporting RIL’s strategic expansion in the shipyard sector.

 

2. SAMEER and AIIMS sign MoU for collaborative research on medical devices: The Society for Applied Microwave Electronics Engineering & Research (SAMEER) and AIIMS have signed a significant Memorandum of Understanding (MoU) to collaborate on the development of advanced medical devices.The partnership aims to drive advancements in high-field and low-field Magnetic Resonance Imaging (MRI) and Nuclear Magnetic Resonance (NMR) systems. Additionally, the collaboration will focus on research in Radio Frequency (RF) and microwave technologies, all with the goal of enhancing medical applications and fostering innovation in the healthcare sector.The MoU was signed on the occasion of the 32nd Foundation Day of the Department of NMR at AIIMS, New Delhi.

 

3. Ajay Seth Appointed as the New Finance Secretary: The Government of India has appointed senior IAS officer Ajay Seth as the next Finance Secretary.He will succeed Tuhin Kanta Pandey, who has taken over as the 11th Chairperson of the capital market regulator, the Securities and Exchange Board of India (SEBI).Ajay Seth is currently the Secretary of the Department of Economic Affairs, Ministry of Finance, Government of India. Earlier this month, the central government announced that Ajay Seth had been given the additional charge of Secretary for the Department of Revenue.

 

4. Sanjay Kumar Mishra Joins EAC-PM as Full-Time Member: Sanjay Kumar Mishra, previously the chief of the Enforcement Directorate (ED), has been appointed as a full-time member of the Economic Advisory Council to the Prime Minister (EAC-PM).The appointment marks a shift for Mishra from his earlier role in law enforcement to an advisory position focused on economic policy under the Prime Minister’s office.During his tenure, ED got approval for the extradition of fugitives such as Vijay Mallya, Nirav Modi and arms dealer Sanjay Bhandari.Sanjay Kumar Mishra was initially appointed as the Enforcement Directorate (ED) chief in 2018. He was given multiple extensions by the Centre.Economic Advisory Council to the Prime Minister (EAC-PM) is an independent body constituted to give advice on economic and related issues to the Government of India, specifically to the Prime Minister.

 

INTERNATIONAL UPDATES:

 

1. Sunil Kakkar becomes first Indian full-time director of Maruti Suzuki India: Sunil Kakkar, who has been leading the corporate planning division at Maruti Suzuki India Limited (MSIL), has become the first homegrown Indian employee to be nominated to the company’s board as a whole-time director.The nomination was made by MSIL’s majority shareholder, Suzuki Motor Corporation (SMC).MSIL’s board currently comprises 11 members—five Indians and six Japanese. Among the Indian members, four are independent directors, while chairman R C Bhargava is the fifth. With Kakkar’s addition, the board will now have equal representation of six Indians and six Japanese.Kakkar’s tenure as whole-time director will be from April 1 this year to March 31, 2028.

 

2. March 26 – Purple Day of Epilepsy: World Purple Day is observed annually on March 26 to raise awareness about epilepsy, a neurological disorder affecting millions worldwide.This global movement was founded in 2008 by Cassidy Megan, a Canadian girl who wanted to educate people about epilepsy and reduce the stigma surrounding it.

 

3. What is Epilepsy?: Epilepsy is a neurological disorder characterized by recurrent seizures, which are sudden and temporary disturbances in brain activity. During a seizure, brain cells fire abnormally, causing changes in behaviour, sensation, or consciousness. There are three main types of epilepsy: idiopathic, symptomatic, and cryptogenic.

 

4. March 27 – World Theatre Day: World Theatre Day is celebrated annually on March 27 to recognize the importance of theatre arts and their impact on society.Theme 2025 – Theatre and a Culture of Peace Established in 1961 by the International Theatre Institute (ITI), this day highlights the power of theatre in fostering creativity, cultural exchange, and social awareness.

 

OTHER UPDATES:

DEFENCE

 

1. Vertically-Launched Surface-to-Air Missile (VLSRSAM): On March 26, 2025, the Defence Research & Development Organisation (DRDO) and the Indian Navy successfully conducted a flight test of the Vertically-Launched Short-Range Surface-to-Air Missile (VLSRSAM). This test took place at the Integrated Test Range (ITR) in Chandipur, Odisha. It marks advancement in India’s defence capabilities.The VLSRSAM is an indigenously developed missile designed for short-range air defence. It is capable of engaging various aerial threats at low altitudes. The missile employs advanced technologies including an indigenous Radio Frequency seeker. This enhances its target acquisition and engagement capabilities.

 

SPORTS 

 

1. Sunil Kumar wins bronze in Asian Wrestling Championship: Indian wrestler Sunil Kumar won the bronze medal in the 87kg Greco Roman category of the Asian Wrestling Championship in Amman, Jordan.In the bronze medal match, Sunil beat China’s Jiaxin Huang after losing in the semifinals of the 87kg bout in the continental tournament.Sunil, a silver medallist in 2019 who is looking to regain some of his old magic, had earlier registered a 10-1 victory over Tajikistan’s Sukhrob Abdulkhaev in the quarterfinal. He scored all of his points in the second period.However, it was Iran’s Yasin Yazdi who marched into the 87kg final with a 3-1 victory over Sunil in the semifinal clash.

 

SCIENCE AND TECHNOLOGY

 

1. NSO, India and IIMA Join hands to Strengthen Data-Driven Policy and Innovation: The Ministry of Statistics and Programme Implementation (MoSPI), in collaboration with the Indian Institute of Management Ahmedabad (IIMA), has organized a workshop on “Emerging Trends in Public Data and Technology for Research and Policy” at the IIM Ahmedabad campus.This initiative aligns with MoSPI’s ongoing efforts to enhance the national data ecosystem and advance evidence-based policymaking.This partnership will serve as a framework for collaborative efforts in data innovation, ensuring that academic research contributes effectively to policy development.

 

2. IT major Wipro bags £500 million, 10-year deal with UK’s Phoenix Group: IT services major Wipro has won a £500 million, 10-year strategic deal with Phoenix Group, the UK’s largest long-term savings and retirement business.This will be one of the largest deals for the company as well as for the industry in a long time. As part of this transformational initiative, a number of Phoenix employees will transition to Wipro.The project is designed to deliver life and pension business administration for the ReAssure business and accelerate Phoenix Group’s operational transformation.Under the terms of the deal, Wipro’s existing FCA-regulated entity, Wipro Financial Outsourcing Services Limited (WFOSL), will deliver comprehensive life and pension administration services to Phoenix Group’s ReAssure customers.

 

3. Lyme Disease Treatment Breakthrough: Recent advancements in Lyme disease research have revealed a promising target for therapeutics. Scientists have identified an enzyme called BbLDH, crucial for the survival and infectivity of the bacterium Borrelia burgdorferi. This discovery paves the way for more effective treatments against Lyme disease and potentially other tick-borne illnesses.BbLDH, or lactate dehydrogenase, is an enzyme that B. burgdorferi relies on for its metabolic processes. Unlike most organisms, this bacterium does not depend on thiamin. Instead, BbLDH is vital for converting pyruvate to lactate, which helps maintain its NADH/NAD+ balance. This unique metabolic adaptation is essential for the bacterium’s growth and infectivity.

 

BANKING AND FINANCE

 

1. IRDAI Sets New Standards for Health Insurance in India: The Insurance Regulatory and Development Authority of India (IRDAI) has set new standards for health insurance, mandating quicker and more efficient claim settlements to benefit policyholders.IRDAI requires insurers to approve cashless authorization requests within 1 hour and complete discharge authorizations within 3 hours, ensuring swift support for policyholders in medical emergencies.Focus on Cashless Settlements: Insurers are urged to achieve 100% cashless claim settlements, supported by hospital help desks and digital pre-authorization, with a compliance deadline of July 31, 2024.Stringent Claim Oversight: Claims cannot be rejected without approval from the Policyholders’ Management Committee (PMC) or Claims Review Committee (CRC), and rejections must be explained in writing, referencing policy terms.

 

2. RBI, NPCI approve Rs 2 hike in ATM interchange fee: The National Payments Corporation of India (NPCI) and the Reserve Bank of India (RBI) have approved an increase in the ATM interchange fee for cash withdrawals from Rs 17 to Rs 19, with effect from May 1, 2025.The interchange has been revised for domestic financial and non-financial transactions Non-financial transactions are subject to an interchange fee of Rs 7, according to an NPCI circular. A separate goods and services tax (GST) is levied on the interchange fee.The revised interchange is not applicable for micro-ATM, interoperable cash deposit (card-based and UPI-based), and international ATM transactions. Such transactions will continue as per the existing rates.The interchange fee for balance enquiries has been set at Rs 7 excluding GST for transactions in Nepal and Bhutan.At present, there are 1,349 NFS members, up from 1,296 in February last year, according to NPCI data.

 

3. BOI’s first dollar loan deal in over a decade raises $400 mn, woos 22 banks: Bank of India has raised $400 million via a dollar syndicated loan, according to people familiar with the matter, marking its first such deal since 2012 that expands a list of the country’s borrowers tapping global credit markets.The rarity factor helped attract strong interest in the deal, allowing the borrower to increase the size by $100 million via the so-called greenshoe option. The facility drew a total of 22 lenders including arrangers CTBC Bank Co. and Standard Chartered Plc.The loan is equally split into three- and five-year tranches, and raised via Bank of India’s branch located in Gujarat International Finance Tec-City.

 

Daily GK Update- 26th Mar, 2025

 NATIONAL UPDATES:

 

1. Centre Notifies 24% Hike in Salaries and Pensions for MPs: The government of India has notified the increase in the salaries, allowances, and pensions of the Members of the Parliament (MP) with a retrospective effect from 1st April 2023. The salaries have been increased from Rs one lakh per month to Rs 1.24 lakh per month an increase of 24 %.The last time the salaries and other benefits of the MPs were revised was in April 2018.The salaries and other allowances of the members of Parliaments are regulated by the Salary, Allowances, and Pension of Members of Parliament Act, 1954 enacted by the Parliament.The act was amended by the Finance Act 2018 and provided that the salary and daily allowances of the MPs shall be increased every five years starting 1 April 2023.The salary and other allowances of the MPs have been linked to the Cost Inflation Index as per section 48 of the Income Tax Act 1961.

 

2. Ministry of Education launches “Baalpan ki Kavita initiative: Restoring Bhartiya rhymes/poems for young children” :The National Education Policy (NEP) 2020 highlights the importance of Early Childhood Education, multilingualism, and using children’s native languages, inspiring the Ministry of Education’s “Baalpan ki Kavita” initiative to create a collection of nursery rhymes and poems in Indian languages and English, rooted in the Indian context.Launched by the Department of School Education & Literacy (DoSE&L), this initiative aims to enhance foundational learning for young children by offering joyful, relatable rhymes and poems in their mother tongue, helping them connect with their surroundings.In partnership with MyGov, DoSE&L invites contributions of existing folk rhymes (with author credits) or original compositions for three age groups: Pre-primary (ages 3-6), Grade 1 (ages 6-7), and Grade 2 (ages 7-8), accepting entries in all Bhartiya Bhasha and English from March 26, 2025, to April 22, 2025.

 

3. Canara Bank Appoints S K Majumdar as Executive Director: Canara Bank has appointed S K Majumdar as its new Executive Director for a term of three years.Prior to this role, Majumdar served as the Chief General Manager and Group Chief Financial Officer (GCFO) at Canara Bank, bringing over 25 years of banking experience as a chartered accountant and cost accountant.The appointment is expected to strengthen Canara Bank’s leadership, with Majumdar poised to contribute to the bank’s goals of innovation, customer-centric services, and financial resilience.

 

INTERNATIONAL UPDATES:

 

1. APEDA Pioneers Export of Sikkim’s GI-Tagged Dalle Chilly to Solomon Islands: The Agricultural and Processed Food Products Export Development Authority (APEDA) successfully facilitated the first export of 15,000 kg of GI-tagged Dalle Chilly from Sikkim to the Solomon Islands, marking a significant step in promoting India’s northeastern agricultural products globally.Sourced from South Sikkim farmers and Farmer Producer Organizations (FPOs) by Mevedir, the consignment fetched premium prices of Rs 250-300 per kg—compared to the usual Rs 180-200 per kg—highlighting the economic benefits of GI tagging and international trade for local producers.Dalle Chilly, also known as Fire Ball Chilly or Dalle Khursani, is renowned for its intense pungency, bright red color, and high nutritional value. Rich in vitamins A, C, and E, along with potassium, its Scoville Heat Units (SHU) range from 100,000 to 350,000, making it a sought-after spice for both culinary and medicinal applications.

 

2. India-Singapore to jointly develop Green and Digital Shipping corridor :India and Singapore have signed a Letter of Intent (LoI) on Green and Digital Shipping Corridor (GDSC) collaboration at the ongoing Singapore Maritime Week (SMW).India and Netherlands also discussed the possibility of utilizing Dutch global expertise to enable cargo movement in low draft rivers of Brahmaputra and Barak.Under the LOI, both sides will collaborate on maritime digitalisation and decarbonisation projects, including identifying relevant stakeholders who could contribute to the effort, and work towards formalising the partnership through a memorandum of understanding on a Singapore-India GDSC.The Singapore-India GDSC, when established, will enhance collaboration from both countries and help accelerate the development and uptake of zero or near-zero GHG emission technologies and the adoption of digital solutions.

 

3. India to overtake Japan in 2025 and Germany in 2027: IMF: According to International Monetary Fund (IMF) data, the Indian economy is likely to overtake Japan in 2025 and Germany in 2027 to become the world’s third largest economy after the United States of America and China.The positive report of the IMF comes after a World Bank report which suggested that India needs to grow at an average annual growth rate of 7.8 percent to achieve the target of Viksit Bharat or a developed country by 2047.The real gross domestic product (GDP) of India has doubled from $2.1 trillion in 2015 to $4.3 trillion in 2025.The growth rate of India was 105 percent which is the highest growth rate amongst the major economies. The growth rate of the United States during this period was 66 percent and China was 76 percent during this period.While Japan whose real GDP was 4.4 trillion in 2015 remained at 4.4 trillion in 2025, showing a growth rate of 0 percent.

 

4. Sanjay Singh elected UWW-Asia bureau member: The Wrestling Federation of India (WFI) president, Sanjay Singh has been elected a Bureau Member of United World Wrestling (UWW)-Asia.The election took place during the UWW-Asia General Assembly in Amman.According to WFI, Singh secured 22 votes out of 38, “demonstrating strong support from the Asian wrestling community.”

 

5. March 25 – International Day of Solidarity with Detained and Missing Staff Members: The International Day of Solidarity with Detained and Missing Staff Members is observed annually on March 25 to honor and advocate for the safety of United Nations (UN) personnel and associated staff who have been detained, abducted, or gone missing while carrying out their duties.This day was established by the United Nations (UN) to draw attention to the risks faced by humanitarian workers, peacekeepers, and journalists working in conflict zones or unstable regions.

 

OTHER UPDATES:

DEFENCE

 

1. India achieves record ₹1.27 lakh crore in indigenous defence production in 2023-24: India has achieved the highest-ever growth in indigenous defence production in 2023-24 since the launch of the Make in India initiative, reaching a record one lakh 27 thousand crore rupees.The value of defence production has surged 174 per cent increase from 46 thousand 429 crore in 2014-15.

Defence exports have also surged from 686 crore in 2013-14 to an all-time high of over 21 thousand crore rupees in 2023-24, marking a 30-fold increase over the past decade.

 

SPORTS 

 

1. India Wins Bronze in Mixed Quad at ISTAF Sepak Takraw World Cup 2025: The Indian team has won the bronze medal in the mixed quad category event in the ISTAF Sepak Takraw World Cup 2025, which is underway at Patna.The Indian team won the medal jointly with the Vietnam team.In the second semifinals of the mixed quad category played at Patliputra Sports Complex Indoor Stadium, the Myanmar team defeated India in straight sets.In the final of the mixed quad event, Thailand clinched the gold medal, defeating Myanmar, which got the silver medal.

 

BANKING AND FINANCE

 

1. 614th Meeting of Central Board of the RBI organised in Thiruvananthapuram: The 614th meeting of the Central Board of Directors of Reserve Bank of India was held in Thiruvananthapuram under the Chairmanship of Shri Sanjay Malhotra, Governor.The Board assessed the emerging global and domestic economic landscape, including the evolving geopolitical and financial market developments and associated challenges. Further, the Board discussed the Reserve Bank’s activities during the current accounting year 2024-25.The Board also approved the Bank’s budget for the accounting year 2025-26.

 

2. SEBI Doubles FPI Disclosure Threshold to ₹50,000 Cr: Markets regulator Securities and Exchange Board of India (SEBI) has approved a proposal to double the investment threshold for granular disclosures by foreign portfolio investors (FPIs) to 50,000 crore rupees. This is aimed at addressing the changing market dynamics without altering the concentration criteria, which remain unchanged.FPIs holding more than 50,000 crore rupees in equity AUM in the Indian markets will now be required to make additional disclosures.

SEBI has also decided to boost investor awareness amid recent market volatility. It aims to ensure investors receive proper advice and are not misled by unregistered advisors.SEBI Chairman stated that action has been taken against over 17,000 financial influencers with the help of Google and Meta. SEBI’s board has decided to constitute a High-Level Committee (HLC) to undertake a comprehensive review of the provisions relating to conflict of interest, disclosure pertaining to property, investment, liabilities, etc.

 

3. Ribbit Capital To Raise $500 Million to Boost Fintech Investments: Ribbit Capital, a company from San Francisco that helps fintech startups grow, plans to collect $500 million for a new fund called Ribbit Capital Y.They’ve supported big fintech names like CRED, Razorpay, and PhonePe in India, and Nubank and Robinhood worldwide, showing their focus on new financial tech ideas.This comes after raising $800 million in 2023 and $1.15 billion in 2022, but this time the fund is smaller because fintech funding has slowed down globally, dropping to $95.6 billion in 2024.The new fund shows Ribbit believes in fintech’s future, especially in India, where companies like PhonePe and Groww are getting ready for big stock market launches.