Important Monthly Current Affairs Capsule – October 2024

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 Important Monthly Current Affairs Capsule – October 2024

S. No Topics Page No

1. IMPORTANT DAYS 03

2. BANKING AND ECONOMY 13

3. NATIONAL NEWS 89

4. INTERNATIONAL NEWS 124

5. STATE NEWS 139

6. BUSINESS NEWS 159

7. AWARDS AND HONOURS 177

8. APPOINTMENTS & RESIGNATIONS 184

9. ACQUISITIONS & MERGERS 205

10. MOUS AND AGREEMENT 212

11. DEFENCE NEWS 219

12. SCIENCE & TECHNOLOGY 228

13. RANKING AND INDEXES 237

14. SPORTS NEWS 240

15. OBITUARIES 249

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 Important Monthly Current Affairs Capsule – October 2024

IMPORTANT DAYS
International Day of Older Persons 2024: October 1
● The International Day of Older Persons is observed every year on 1st October
● The theme for the 2024 United Nations International Day of Older Persons (UNIDOP) is "Ageing with
Dignity: The Importance of Strengthening Care and Support Systems for Older Persons Worldwide".
● This day was first observed on October 1, 1991.

World Vegetarian Day 2024: October 1

● World Vegetarian Day is observed on the 1st of October of every year.
● In 1977, the North American Vegetarian Society (NAVS) founded World Vegetarian Day.
● World Vegetarian Day aims to promote life-enhancing possibilities and the joy of eating vegetarian
dishes.
International Coffee Day 2024: October 1
● The International Coffee Day is observed on 1st October of every year.
● The International Coffee Organisation first declared the International Coffee Day.
● The International Coffee Organisation was started in the year of 1963.
● This day was launched in Milan.
● So in 2015, the International Coffee Organisation officially announced that International Coffee Day
is celebrated on October 1.
International Day of Non-Violence 2024: October 2
● The International Day of Non-violence is observed on the 2nd October of every year.
● In 2004, Iranian Nobel laureate Shirin Ebadi had a proposal of an International Day of Non-Violence.
● This idea was gradually attracted by some leaders of India’s Congress Party.
● The International Day of Non-Violence is observed on 2nd October in order to commemorate the
birth anniversary of the Non-violent freedom fighter Mohandas Karmchand Gandhi.
Gandhi Jayanti 2024: October 2
● Gandhi Jayanti is celebrated in India to commemorate the birth anniversary of the freedom fighter
Mohandas Karamchand Gandhi, also known as Mahatma Gandhi.
● This day is celebrated on 2nd October of every year as he was born on 2nd October 1869.

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 Important Monthly Current Affairs Capsule – October 2024

● This day is one of the national holidays in India.

● Mahatma Gandhi is also called the “Father of The Nation.
National Wildlife Week 2024: October 2 to 8,
● As National Wildlife Week approaches from October 2 to 8, 2024, India is gearing up to celebrate its
diverse ecosystems and emphasize the vital importance of wildlife conservation.
● This year's(2024) theme, “Wildlife Conservation Through Coexistence,” aims to raise awareness
about the pressing challenges faced by wildlife and the urgent need for collective action to preserve
these invaluable resources.
● Initially observed as Wildlife Day in 1955, it was later expanded and renamed Wildlife Week in 1957.
Swachh Bharat Diwas 2024: Celebrating a Decade of Sanitation Progress
● On October 2, 2024, coinciding with Gandhi Jayanti, Prime Minister Narendra Modi participated in
Swachh Bharat Diwas at Vigyan Bhawan, New Delhi, marking the completion of a decade of the
Swachh Bharat Mission.
● During this event, he will inaugurate and lay the foundation for several projects worth over ₹9,600
crore related to sanitation and cleanliness.
The funding allocation includes:
● ₹6,800 crore for urban water and sewage systems under AMRUT and AMRUT 2.0.
● ₹1,550 crore for water quality and waste management in the Ganga basin under the National
Mission for Clean Ganga.
● ₹1,332 crore for 15 Compressed Biogas (CBG) Plant projects under the GOBARdhan Scheme.
World Smile Day 2024: October 4
● World Smile Day is celebrated on the first Friday of October every year.
● This year World Smile Day was celebrated on 4th October.
● The theme for World Smile Day 2024 is "Do an act of kindness. Help one person smile".
World Animal Day 2024: October 4
● World Animal Day is celebrated on the 4th October of every year.
● This day is observed to raise awareness about the welfare standards of the animals.
● The theme for World Animal Day 2024 is "The World Is Their Home Too!".
● World Animal Day was first organized by Heinrich Zimmermann, the German Writer on March 24,
1925, in Berlin. More than five thousand people attended this event.

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 Important Monthly Current Affairs Capsule – October 2024

World Space Week (WSW) 2024: October 4 to 10.

● World Space Week (WSW) is an annual international celebration of science and technology and
their contributions to improving the human condition. The United Nations General Assembly
declared WSW will be observed every year from October 4 to 10.
● Theme of 2024 WSW: “Space & Climate Change”
World Teachers Day 2024: October 5
● World Teachers Day or International Teachers Day is celebrated on the 5th October of every year.
● This year, World Teachers Day Theme 2024 is Valuing teacher voices "Valuing Teacher Voices:
Towards a new social contract for education."
● World Teachers Day was established by the United Nations Educational, Scientific and Cultural
Organization (UNESCO) in the year of 1994.

World Cerebral Palsy Day 2024: October 6

● Every year October 6th is observed as World Cerebral Palsy Day.
● This year's theme, ‘#UniquelyCP’, celebrates the uniqueness of the cerebral palsy community - their
interests, passions, and identities - showing that they are not solely defined by their disability.
● Dr. Sigmund Freud was the first person who stated that Cerebral Palsy may be caused by abnormal
development before birth.
World Cotton Day 2024: October 7
● World Cotton Day is observed on 7th October of every year.
● The theme of World Cotton Day is, 'Cotton for Good'
● In 2019, The four Cotton producers namely Benin, Burkina Faso, Chad and Mali initiated the World
Trade Organisation about the World Cotton Day on October 7.
● The first World Cotton Day was celebrated on 7th October 2019 and it was hosted by the World
Trade Organization.
World Habitat Day 2024: October 7
● World Habitat Day is observed on the first Monday of October of every year. This year World Habitat
Day is celebrated on the 7th of October.
● In 1985, The UN General Assembly adopted resolution 40/202 and established World Habitat Day
on the first Monday of October.

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 Important Monthly Current Affairs Capsule – October 2024

● Since 1986, World Habitat Day has been celebrated on the First Monday of October of every year.
Indian Air Force Day 2024: October 8

• The Indian Air Force Day is celebrated on the 8th of October of every year in India.

• The Indian Air Force was first established on the 8th of October of 1932, so the Indian Air Force

Day is celebrated on the 8th of October of every year.

• The first flight of the Indian Air Force came into being on 1 April 1933.

World Post Day 2024: October 9

• World Post Day is celebrated on 9th October of every year.

• the World Post Day theme for 2024 is: "150 years of enabling communication and empowering

peoples across nations".

• World Post Day was first declared by the Universal Postal Union (UPU) Congress in Tokyo,

Japan in the year of 1969.

Indian Foreign Service (IFS) Day 2024: October 9

• Indian Foreign Service (IFS) Day is observed annually on October 9, commemorating the

establishment of the Indian Foreign Service in 1946.

• First Observed: 1946

• Purpose: To honor and recognize the contributions of Indian diplomats in safeguarding national

interests and enhancing India’s global reputation.

• The IFS was officially established on October 9, 1946, just before India gained independence.

World Mental Health Day: October 10

• World Mental Health Day 2024 falls on the 10th of October.

• World Mental Health Day with the theme 'It is Time to Prioritise Mental Health in the Workplace'

• A non-governmental organization called the World Federation for Mental Health (WFMH) was

established in 1948.

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 Important Monthly Current Affairs Capsule – October 2024

• On October 10, 1992, Richard Hunter, who was the deputy secretary general of the WFMH at the
time, declared the first World Mental Health Day.

World Sight Day : October 10

• World Sight Day is an International Day of Awareness, held annually on the second Thursday of

October. This year, World Sight Day is observed on the 10th of October 2024.

• Lions Clubs International partnered with blindness presentation organizations worldwide for the

first World Sight Day in 1998.

National Post Day: October 10

• National Postal Day is observed in India on October 10 each year, celebrating the establishment

of the Indian postal system and acknowledging the vital role it plays in connecting people across

the country.

• For 2024, the theme for National Postal Day is "Connecting India: The Role of Postal Services in

Nation Building".

• Establishment: The Indian Postal Service was initiated on October 10, 1854, when the East India

Company implemented a comprehensive postal network across the nation.

World Day against the Death Penalty, 10 October 2024

• October 10 marks World Day Against the Death Penalty

• The Committee of Ministers reaffirms its strong opposition to the death penalty, emphasizing the

need for its abolition.

• Aims to establish a death penalty-free zone in Europe and beyond, consistent with the Reykjavík

Declaration adopted by Heads of State and Government in May 2023.

• Theme of the World Day: "The Death Penalty Protects No One"

International Day of the Girl Child: 11 October

• On 11 October 2024, the International Day of the Girl Child is celebrated

• Theme for 2024: "Girls’ Vision for the Future"

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 Important Monthly Current Affairs Capsule – October 2024

• Adopted on December 19, 2011, to declare October 11 as the International Day of the Girl Child.
• Aims to recognize girls’ rights and address the unique challenges they face globally.

World Arthritis Day: October 12

• World Arthritis Day 2024 falls on October 12.

• The theme for World Arthritis Day 2024 is "Informed Choices, Better Outcomes."

• The Arthritis Foundation established World Arthritis Day.

International Day for Disaster Risk Reduction: October 13

• The International Day for Disaster Risk Reduction 2024 is observed on the 13th of October.
• The International Day for Natural Disaster Reduction was established by a resolution passed by

the UN General Assembly in 1989.

• Also, the day was renamed International Day for Disaster Risk Reduction.

World Standards Day: October 14

• World Standards Day is observed annually on the 14th of October 2024.

• The first World Standards Day was celebrated in 1946 in London, the same year that the

International Organization for Standardization was founded.

International Day of Rural Women: October 15

● International Day of Rural Women 2024 is observed on the 15th of October 2024.
● This year's theme, "Rural Women Sustaining Nature for Our Collective Future: Building climate
resilience, Conserving Biodiversity, and Caring for land towards gender equality and Empowerment,"
● October 15 will be recognized yearly as International Day of Rural Women globally, according to a
resolution 62/136 passed by the United Nations General Assembly on December 18, 2007.
White Cane Safety Day: October 15
● White Cane Safety Day 2024 is observed on the 15th of October 2024. (This day is dedicated to
visually impaired people)
● White Cane Safety Day was established annually on October 15 by a joint resolution that President
Lyndon B. Johnson and the U.S. Congress signed on October 6, 1964.
Pregnancy and Infant Loss Remembrance Day: October 15
● Pregnancy and Infant Loss Remembrance Day 2024 is observed on the 15th of October 2024.

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 Important Monthly Current Affairs Capsule – October 2024

● Pregnancy and Infant Loss Remembrance Day (PAILRD) is a memorial day that is annually
honoured on October 15 in the United States and Canada.
● The month of October had previously been declared to be Pregnancy & Infant Loss Awareness
Month by President Ronald Reagan.
Global Handwashing Day: October 15
● Global Handwashing Day 2024 is observed on the 15th of October 2024.
● The Global Handwashing Partnership established Global Handwashing Day as a chance to develop
and put into practice original strategies for inspiring people to wash their hands with soap,
particularly in times of need.
● In 2008, the first Global Handwashing Day was observed.
World Students Day: October 15
● World Students Day 2024 is observed on the 15th of October 2024, to honor the birthday of our
former president, the late Dr. APJ Abdul Kalam.
● In 2010, World Students Day was established by the United Nations. In honour of former Indian
president APJ Abdul Kalam, who was born on the same day in 1931, October 15 of each year is
observed as World Students' Day.
● The purpose of the day is to honor Kalam's contributions to education and students. Early in his life,
Kalam studied science and physics. He was born in Rameswaram, Tamil Nadu.
World Anaesthesia Day: October 16
● World Anaesthesia Day is observed on October 16 in remembrance of W.T.G. Morton, who made
the first successful official demonstration of ether as an anaesthetic on this date 173 years ago.
● Since 1903, unique occasions have been planned to commemorate this momentous day.
World Food Day: October 16
● World Food Day 2024 is observed annually on the 16th of October 2024.
● The World Food Day 2024 theme is “Right to Foods for a Better Life and a Better Future,”
● The Food and Agriculture Organization (FAO), a specialised body of the United Nations, created
World Food Day in 1945.
International Day for the Eradication of Poverty 2024
● The International Day for the Eradication of Poverty 2024 will be observed on October 17th,
focusing on global efforts to eliminate poverty and uphold human rights.

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 Important Monthly Current Affairs Capsule – October 2024

● The day was first commemorated on October 17, 1987, at the Trocadéro in Paris, where more
than 100,000 people gathered.
International Stuttering Awareness Day 2024
● International Stuttering Awareness Day 2024 is observed on the 22nd of October 2024.
● This year, the theme of International Stuttering Awareness Day 2024 is 'The Power of Listening.'
● International Stuttering Awareness Day was established in the year 1998 to bring attention to the
millions of people across the world who are living with his specific Communication Disorder.
World Iodine Deficiency Day: 21st October
● World Iodine Deficiency Day, also known as Global Iodine Deficiency Disorders Prevention Day, is
observed on 21st October every year.
● The day aims to spread awareness about iodine's vital role in maintaining health and preventing
iodine deficiency disorders (IDD).
● Iodine is essential in thyroid hormones, thyroxine (T4) and triiodothyronine (T3), which are crucial for
metabolism and fetal and infant development.
World Development Information Day: 24th October
● World Development Information Day 2024 is observed on the 24th of October 2024.
● The United Nations General Assembly conducted a conference on Trade and Development on 17th
May 1972.
International Snow Leopard Day: October 23
● International Snow Leopard Day is celebrated on October 23 each year to raise awareness about
the conservation of snow leopards and their endangered status.
● Theme for 2024:
o The theme for International Snow Leopard Day 2024 is “Safeguarding Snow Leopard Habitats
for Future Generations.”
o This theme emphasizes the critical importance of protecting the natural habitats of snow
leopards to ensure their survival and the health of mountain ecosystems.
o International Snow Leopard Day was established following the adoption of the Bishkek
Declaration by 12 countries, focusing on snow leopard conservation.
ITBP Raising Day 2024 : 24th October
● ITBP Raising Day 2024 is observed on the 24th of October 2024.

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 Important Monthly Current Affairs Capsule – October 2024

● The war took place between India and China in 1962 in the Himalayan region which is the highest
altitude in the country.
● Since it is at the highest altitude the weather conditions are worse which will be around 25 degrees
Celcius.
● Every Year the ITBP raising day is celebrated to honour the Police forces and to issue medals to the
officers who showed bravery and courage in emergency situations.
World Polio Day : 24th October
● World Polio Day 2024 is observed on the 24th of October 2024.
● World Polio Day was first initiated and Celebrated by Rotary International for the birthday of Jonas
Salk, the Medical Researcher who led the first team to develop a vaccine against polio.
● Rotary International and WHO established the Global Polio Eradication Initiative (GPEI) in 1988.
United Nations Day: 24th October
● United Nations Day 2024 is observed on the 24th of October 2024.
● United Nations Day is celebrated annually on October 24, commemorating the entry into force of the
UN Charter in 1945.
● The idea of forming an international body to prevent wars was proposed during World War II, with
the first official proposal emerging in 1941 through the Atlantic Charter.
● The foundation of the UN was further developed through several conferences, notably the San
Francisco Conference in 1945, where the UN Charter was drafted.
International Artist Day - October 25
● International Artist Day is celebrated annually on October 25 to honour and recognize artists from
various fields, including visual arts, music, dance, literature, and performance.
● The day was initiated in 2004 by Chris MacClure, a Canadian artist known for his "Romantic
Realism" style, to highlight the essential role that artists play in society and to encourage support for
the arts.
National Lemur Day - October 25, 2024
● National Lemur Day is celebrated on October 25, 2024, under the theme "Lemurs, a National
Treasure, a Global Pride."
● This day highlights the importance of lemurs, the iconic animals of Madagascar, and their critical role
in maintaining the balance of ecosystems.

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 Important Monthly Current Affairs Capsule – October 2024

● Origin: The celebration of lemurs started with the World Lemur Festival initiated by Professor Jonah
Ratsimbazafy in 2014 in Antananarivo, Madagascar. The aim was to raise awareness about the
significance of lemurs in Madagascar, an island renowned for its unique biodiversity.
Disarmament Week: October 24 - 30
● Disarmament Week is observed annually from October 24 to 30,2024 starting on the United Nations
(UN) Day.
● This week aims to raise awareness about the importance of disarmament and promote international
dialogue to reduce the spread and impact of weapons.
● Established by the UN in 1978, it emphasizes reducing or eliminating weapons, including nuclear,
chemical, biological arms, and conventional weapons.
Global Media and Information Literacy Week: October 24 - 31
● Global Media and Information Literacy (MIL) Week is observed annually from October 24 to 31.
● It aims to raise awareness about the importance of Media and Information Literacy (MIL) and
celebrates the progress made towards ensuring that people around the world are equipped with the
skills to critically navigate the information landscape.
● This year's theme is "The New Digital Frontiers of Information: Media and Information Literacy for
Public Interest Information."
● Media and Information Literacy (MIL) involves competencies that enable individuals to effectively
navigate the information and communication landscape.
World Stroke Day: 29th October
● World Stroke Day 2024 is observed on the 29th of October 2024.
● The theme for World Stroke Day 2024 is “#GreaterThanStroke Active Challenge.” The theme has
been designated by the World Stroke Organization (WSO).
● The European Stroke Organization, which spearheaded the initiative, observes its awareness day on
May 10.
● It wasn’t until October 29 that World Stroke Day was designated, an event that was initiated in 2004
during the World Stroke Congress in Vancouver, Canada.
International Day of Care and Support: October 29, 2024

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 Important Monthly Current Affairs Capsule – October 2024

● The International Day of Care and Support is observed annually on October 29 to honour caregivers'
invaluable role in society.
● This day acknowledges the dedication of caregivers, promotes supportive policies, and emphasizes
the importance of care work in building stronger, more inclusive communities.
● Theme for 2024“Ageing with Dignity: The Importance of Strengthening Care and Support Systems
for Older Persons Worldwide”
International Animation Day (IAD) - October 28, 2024
● International Animation Day (IAD) is celebrated annually on October 28 to honour the origins and
impact of animation as a significant artistic and cultural medium.
● Established by the Association Internationale du Film d’Animation (ASIFA) in 2002, IAD
commemorates the first public projection of animated images by Émile Reynaud at his Théâtre
Optique in Paris in 1892.
National Unity Day 2024 Theme and History: 31st October
● National Unity Day 2024 is observed on the 31st of October 2024.
● The National Unity Day 2024 was first started in the year 2014 by our Honourable Prime Minister
Narendra Modi to honour the birth anniversary of Sardar Vallabhbhai Patel on 31st October 1875.
World Savings Day : 31st October
● World Savings Day 2024 is observed on the 31st of October 2024. (30th October in India)
● World Savings Day, also called World Thrift Day, was first established in the year 1924 during the
first International Savings Bank Congress.

BANKING & FINANCE

New securities transaction tax Rates for Futures and Options to Take Effect from October 1, 2024
● Amid concerns about rising investor trading in the Futures & Options (F&O) segment, the new

securities transaction tax (STT) levied on the sale of futures and options contracts will kick in

from October 1, 2024.

STT Rate Increases:

➢ Options: STT will increase from 0.0625% to 0.1%.

➢ Futures: STT will rise from 0.0125% to 0.02%.

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 Important Monthly Current Affairs Capsule – October 2024

● Objective: The increased STT aims to curb excessive speculative trading in the F&O segment,
particularly among retail investors.

● Retail Investor Losses : Loss Statistics:

➢ 93% of over 1 crore individual F&O traders experienced average losses of around ₹2 lakh.

➢ The top 3.5% of loss-makers (about 4 lakh traders) lost an average of ₹28 lakh each.

● Profit Rates: Only 7.2% of individual F&O traders made a profit over the three years, and just 1%

earned over ₹1 lakh in profits after transaction costs.

● Changes in Rules and Regulations: Aadhaar and PAN Allotment:From October 1, individuals will
no longer need to mention their Aadhaar enrollment ID in PAN allotment documents or while

filing income tax returns.

● Post Office Small Saving Schemes : New rules for the regularization of irregular Public Provident

Fund (PPF) accounts, Sukanya Samriddhi Yojana, and other small saving schemes will be

implemented from October 1, 2024

● These rules will address issues related to accounts opened in the name of minors, multiple PPF

accounts, and extensions of PPF accounts by NRIs.

● ChangesTDS Updates: Changes related to TDS will come into effect from October 1, as

introduced in the Union Budget 2024.

➢ A 10% TDS will be applicable on certain central and state government bonds.

➢ Changes in TDS payment for life insurance policies, house rent payments, etc., will also

be implemented starting October 1.

India's Foreign Exchange Reserves Reach All-Time High of $692.3 Billion

● As of September 20, 2024, India’s foreign exchange reserves reached a record high of $692.3

billion, marking the sixth consecutive week of increases.

● The reserves increased by $2.84 billion during the week ending September 20,2024 following a

total rise of $19.3 billion over the previous five weeks.

Components of Reserves:
● Foreign Currency Assets: The largest component rose to $605.7 billion, up from $603.6 billion in
the previous week.

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 Important Monthly Current Affairs Capsule – October 2024

● Gold Reserves: The RBI data also showed a $726 million increase in Gold reserves to $63.613
billion in the latest filing, compared to $62.887 billion in the September 13 data.

● Gold is the second largest contributor to India's forex reserve.

● Special Drawing Rights (SDRs): Increased to $18.5 billion, up from $18.4 billion.

● Reserve Tranche Position with International Monetary Fund (IMF) : Decreased slightly to $4.46

billion from $4.52 billion.

Top 10 Countries With Highest Foreign Exchange Reserves Including Gold as of May 2024:

Rank Country Total Forex Gold Reserves

Reserves (in Reserves (in (in million
million USD) million USD) USD)

1 China 3,469,776.82 3,308,705.00 161,071.82

2 Japan 1,290,604.98 1,230,377.14 60,227.84

3 Switzerland 864,426.87 794,931.41 69,495.46

4 United States 811,811.40 232,761.25 579,050.15

of America

5 India 651,950.34 593,423.00 58,527.34

6 Taiwan 598,819.67 570,595.00 28,224.67

7 Russia 590,222.33 424,146.08 166,076.25

8 Saudi Arabia 458,114.83 436,526.61 21,588.22

9 Hong Kong 425,554.25 425,415.00 139.25

SAR

10 South Korea 420,983.76 414,004.46 104.45

Securities and Exchange Board of India launches new asset class and relaxes regulations for the
Mutual Funds Lite framework

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 Important Monthly Current Affairs Capsule – October 2024

● The Securities and Exchange Board of India (SEBI) paved the way for the introduction of a new
asset class, which will add depth and variety to the investment landscape of the country.

● The SEBI, in its board meeting, announced the introduction of a liberalised Mutual Funds Lite

(MF Lite) framework for passively managed schemes of mutual funds schemes.

● The board meeting was the first since Hindenburg Research and Congress’ allegations of

‘conflict of interest’ against SEBI chairperson Madhabi Puri Buch and her husband Dhaval Buch.

● The board did not announce tighter norms to curb speculative trading in Futures & Options (F&O),

as expected by most of the market participants.

About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992

● Headquarters : Mumbai, Maharashtra

● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)

● SEBI is the regulatory body for securities and commodity markets in India under the ownership of

the Ministry of Finance (MoF), GoI.

Policyholders to benefit as new life insurance surrender value norms take effect from Oct 1, 2024
● The Insurance Regulatory and Development Authority of India (IRDAI) introduced new surrender

value norms to ensure "reasonableness and value for money" for both exiting and continuing

policyholders.

● Surrender Value:Surrender value is the amount an insurer pays if a policyholder terminates the

policy before maturity. It includes the earnings and savings portion.

● Under the new norms, surrender value will be at least equal to the present value of the paid-up

sum assured on all contingencies covered, plus accrued/vested benefits.

● Formula Change:As per the new guidelines, the special surrender value will rise by over 20%

compared to the existing regulation, where insurers pay 50% of the total premium if surrendered

between the 4th and 7th year.

● Applicability:All existing policies must comply with the new norms by September 30, 2024, and
new policies must offer the revised surrender values from October 1, 2024.

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 Important Monthly Current Affairs Capsule – October 2024

About IRDAI :
● Established : 1999

● Headquarters : Hyderabad, Telangana

● Chairperson : Debasish Panda

● The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government

of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance

industries in India.

YES BANK and Paisabazaar Introduce 'PaisaSave' Cashback Credit Card with Advanced Features
● Paisabazaar, India's leading online marketplace for consumer credit and free credit score

platform, has partnered with YES BANK, India's sixth largest private sector bank, to unveil their

co-branded credit card - YES BANK Paisabazaar PaisaSave Credit Card.

● The PaisaSave Credit Card is designed to reward frequent shoppers by offering substantial

cashback on everyday purchases, both online and offline, making it a must-have for the value-

conscious customers.

About Paisabazaar :
● Founded : 2014

● Co-Founder & CEO : Naveen Kukrej

EaseMyTrip unveils ScanMyTrip, a pioneering travel platform on ONDC

● Online travel tech platform in India, EaseMyTrip.com has introduced ScanMyTrip.com, the

country’s first travel marketplace of its kind.

● It has also become the first OTA (Online Travel Agency) to both offer and purchase travel

services through the ONDC Network. ScanMyTrip.com will serve as a platform where OTAs,

MSMEs, travel agents, and homestays can list services such as flights, hotels, and

accommodations on the ONDC Network, expanding their reach within the digital marketplace.

About ONDC :
● Established : 31 December 2021

● MD & CEO : Thampy Koshy

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 Important Monthly Current Affairs Capsule – October 2024

● ONDC is a private non-profit Section 8 company established by the Department for Promotion of
Industry and Internal Trade (DPIIT) of the Government of India to develop open e-commerce.

Asian Development Bank Approves $50 Million Loan to Strengthen Water Management and Climate
Resilience in Meghalaya, India
● The Asian Development Bank (ADB) has approved a $50 million loan to improve water resources

management, enhance access to water, and strengthen community resilience to climate change

in the state of Meghalaya, India.

● The project supports the 2019 Meghalaya State Water Policy, focusing on sustainable

development and management of water resources through a participatory approach.

● The project will involve the construction of 532 water storage facilities across 12 districts in

Meghalaya.

About ADB :
● Established : 1966

● Headquarters : Manila, Philippines

● President : Masatsugu Asakawa

● Membership : 68 members, including 49 regional members (countries in Asia and the Pacific)

and 19 non-regional members (countries outside the region)

Jana Small Finance Bank introduces 'Liquid Plus Fixed Deposit' scheme for short-term investments
● Jana Small Finance Bank has introduced the 'Liquid Plus Fixed Deposit' scheme.

● Purpose: The scheme is designed for investors looking to park extra funds for short durations.

● Tenure: The tenure for the Liquid Plus Fixed Deposit ranges from 7 days to 180 days.

Minimum Deposit:
● Retail Deposits: Minimum deposit amount of ₹10 lakh for amounts up to ₹3 crore.

● Bulk Deposits: Minimum deposit of ₹3 crore to ₹200 crore per customer.

● Interest Rate: The interest rate for the Liquid Plus Fixed Deposit is 6.75% for all tenures.

About Jana Small Finance Bank :

● Founded : March 28, 2018

● Headquarters : Bangalore, Karnataka, India

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 Important Monthly Current Affairs Capsule – October 2024

● CEO : Ajay Kanwal

Unified Payment Interface Surpasses 500 Million Daily Transactions, Transaction Value Stagnates in
September 2024
● Unified Payment Interface (UPI) daily transactions crossed 501 million in September 2024, the

highest ever since UPI turned operational in 2016.

● It registered a marginal increase of 0.5% in volume to 15.04 billion in September 2024 compared to

14.96 billion in August 2024.

● In value terms, Rs 68,800 crore was secured in September 2024.

● The number remained almost static at Rs 20.64 trillion in September 2024, compared to Rs 20.61

trillion in August 2024.

● The number of daily transactions is higher than 483 million and Rs 66,475 crore in August 2024.

Immediate Payment Service (IMPS):

● Monthly Volume:IMPS transaction volume declined by 5% to 430 million in September, down

from 453 million in August.

● Transaction Value:IMPS value fell by 2% to Rs 5.65 trillion in September, compared to Rs 5.78

trillion in August.

● Year-on-Year Comparison:IMPS volume decreased by 9%, but the value increased by 11%

compared to September 2023.

FASTag:
● Monthly Volume:FASTag transactions saw a 3% decline to 318 million in September, down from

329 million in August.

● Transaction Value:FASTag value marginally increased to Rs 5,620 crore in September, up from

Rs 5,611 crore in August.

● Year-on-Year Growth:FASTag volume grew by 7%, and the value increased by 10% compared

to September 2023.

Aadhaar Enabled Payment System (AePS):

● Monthly Volume:AePS transactions remained steady at 100 million in both September and

August, slightly up from 97 million in July.

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 Important Monthly Current Affairs Capsule – October 2024

● Transaction Value:AePS value dropped by 2% to Rs 24,143 crore in September, compared to Rs

24,676 crore in August.

● Year-on-Year Comparison:AePS saw a 1% decline in volume and a 7% drop in value compared

to September 2023.

About UPI :
● Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single

mobile application.

● It is developed by the National Payments Corporation of India (NPCI).

● It was introduced in April 2016.

Star Health takes legal action against Telegram following data leak by hacker using app chatbots

● Insurer Star Health has filed a lawsuit against social media platform Telegram and a ‘hacker’

after it was discovered that the hacker was using the messaging application to leak company

data.

● Star Health and Allied Insurance, India’s largest standalone health insurer, is facing a crisis after

a massive data breach exposed the sensitive information of 31 million customers.

● The breach, one of the biggest in Indian history, reportedly involved 7.24 terabytes of data being

leaked, including personal information such as names, phone numbers, addresses, tax details,
medical records, and identification documents.

● Telegram, launched in 2013, has 900 million active monthly users.

About Star Health Insurance :

● Founded : 2006

● Headquarters : Chennai, Tamil Nadu

● MD & CEO : Anand Roy

India's Current Account Deficit Increases to 1.1% of GDP for April-June 2024
● India's current account deficit (CAD) increased to 1.1% of GDP in Q1 FY25, amounting to $9.8

billion, up from 1% (or $8.9 billion) in the same period last year.

● The rise in merchandise trade deficit was a major factor behind this widening.

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 Important Monthly Current Affairs Capsule – October 2024

● CAD occurs when the value of goods and services that a country imports exceeds the value of
the products it exports.

● The country had recorded a current account surplus of $4.6 billion (0.5 per cent of GDP) in the

fourth quarter (Q4) FY24.

● Merchandise Trade Deficit:The merchandise trade deficit increased to $65.1 billion in Q1 FY25,

compared to $56.7 billion in the year-ago period.

State Bank of India files insolvency petition under Section 7 of IBC against Reliance Infra's toll road
subsidiary
● State Bank of India (SBI) has filed a petition under Section 7 of the Insolvency and Bankruptcy

Code, 2016, against KM Toll Road Private Limited (KMTRPL), a wholly owned subsidiary of

Reliance Infrastructure, before the National Company Law Tribunal, Mumbai, for a claim amount

of ₹233.44 crore (including interest).

● Section 7 of IBC:This section allows financial creditors to initiate the Corporate Insolvency

Resolution Process (CIRP) when a default occurs.

● Creditors may file the application individually or jointly before the National Company Law Tribunal

(NCLT).

● KMTRPL Background:KMTRPL is a subsidiary of Reliance Infrastructure and one of 60

subsidiary and associate companies.

About SBI :
● Established : 1 July 1955

● Headquarters : Mumbai, Maharashtra, India

● Chairman : Challa Sreenivasulu Setty

IDFC FIRST Bank Unveils Ashva Credit Card, Catering to Modern and Discerning Customers

● IDFC FIRST Bank, a leader in innovative financial solutions, has announced the launch of the

Ashva Credit Card, its newest offering for the modern, discerning customer.

● The Ashva Credit Card, powered by Visa, is a celebration of the spirit and aspiration of the new

India.

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 Important Monthly Current Affairs Capsule – October 2024

About IDFC FIRST Bank :

● Founded : October 2015

● Headquarters : Mumbai, Maharashtra, India

● MD & CEO : Mr. V Vaidyanathan

● IDFC FIRST Bank is a new-age Universal Bank in India built on the foundations of Ethical

Banking, Digital Banking, and Social Good Banking.

Scheme for writing books originally in Hindi on Economics/Banking/Financial subjects Declaration of

Result for the year 2022-23
● The Reserve Bank of India (RBI) has initiated a scheme to promote original writings and research

in Hindi on economics, banking, and financial subjects.

● The scheme is aimed at working and retired professors (including Assistant and Associate

Professors) from UGC-recognized Indian universities.

● The primary objective of the scheme is to encourage and enrich Hindi literature in the fields of

economics and banking, thereby promoting regional languages in academic discourse.

● Awards:Under this Scheme, working/retired Professors (Including Assistant and Associate

Professor etc.) of Indian Universities (UGC recognized) are awarded three prizes of ₹1,25,000.00

(One lakh twenty-five thousand) each for writing books originally in Hindi on

Economics/Banking/Financial subjects.

Axis Bank Launches Corporate Credit Card Suite for Startups to Simplify Business Expenses under
New Economy Group
● Axis Bank introduced a Corporate Credit Card Suite specifically designed for start-ups under its
New Economy Group (NEG).

● Purpose:The credit card suite aims to streamline travel, official expenses, and vendor payments

for entrepreneurs and start-ups.

● Card Variants:The suite includes two credit cards:

➢ Executive Corporate Credit Card: Tailored for founders with benefits like enhanced credit

limits, 4 complimentary golf rounds, reduced foreign exchange markup, and exclusive

insurance perks.

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 Important Monthly Current Affairs Capsule – October 2024

➢ Purchase Reward Credit Card: Focused on expense management with features like zero
joining fees, automated accounting, and expense tracking.

● Partnership with TEAM:Axis Bank partnered with the Tech Entrepreneurs Association of Mumbai

(TEAM) to further support Mumbai's start-up ecosystem.

About Axis Bank :

● Established : 3 December 1993

● Headquarters: Mumbai, Maharashtra, India

● MD & CEO: Amitabh Chaudhry

● Tagline : Badhti Ka Naam Zindagi

Reserve Bank of India's Mibor panel supports transition to benchmark based on secured money market

● The Reserve Bank of India (RBI)’s Committee on MIBOR Benchmark was established to review

rupee interest rate benchmarks, specifically evaluating the Mumbai Interbank Outright Rate

(MIBOR) usage and considering a transition to a new benchmark.

● The Committee proposed that the Financial Benchmarks India Limited (FBIL) develop and

publish a benchmark based on the Secured Overnight Rupee Rate (SORR).

● SORR would be calculated from trades in the basket repo and Tri-Party Repo (TREP) segments

during the first three hours of trading.

● Rationale for SORR: The repo market in government securities, which accounts for 98% of

overnight money market trades (including both banks and non-banks), is seen as a more

representative and robust measure compared to the call money market, making it a better
benchmark for interest rate derivatives used for hedging.

● Access for Non-Residents: The Committee suggested that non-residents could be gradually

given access to onshore Interest Rate Derivatives (IRD) markets beyond MIBOR Overnight

Indexed Swaps (OIS), pending a review of market conditions and risk controls.

● Current Usage by Foreign Investors: Foreign investors currently utilize 96% of the Rs 3.5 billion

limit for OIS transactions, close to the threshold, prompting the RBI to review the investment limit.

Banks' issuance of Certificates of Deposit (CDs) rises by 66% in the first half of FY25

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 Important Monthly Current Affairs Capsule – October 2024

● According to data from Prime Database, the issuance of certificates of deposit (CDs) by banks
has surged by 66% in the first six months of the current fiscal as lenders struggle with sluggish

deposit growth. In the first half of FY25, banks raised Rs 5.59 lakh crore through CDs, compared

to Rs 3.37 lakh crore a year ago.

What are certificates of deposit?

● Certificates of Deposit (CDs) were introduced in India in 1989.

● A CD is a short-term debt instrument used by banks to mobilise funds.

● Month-on-Month Increase in September 2024:Banks raised ₹1.45 lakh crore through CDs in

September 2024, a 77% increase compared to ₹82,020 crore in August 2024.

State Bank of India Chairman Setty announces plans to expand the network by adding 600 branches in
FY25

● State Bank of India (SBI) is planning to open 600 branches across the country in the current

financial year in a bid to tap business opportunities in emerging areas including large residential

townships.

● SBI has a total of 22,542 branches as of March 2024.

● In FY24, SBI opened 137 new branches, including 59 in rural areas.

● SBI operates 65,000 ATMs and has 85,000 business correspondents.

About SBI :
● Established : 1 July 1955

● Headquarters : Mumbai, Maharashtra, India

● Chairman : Dinesh Kumar Khara

Pension Fund Regulatory and Development Authority permits subscribers to maintain 50% equity
investment until the age of 45
● The Pension Fund Regulatory and Development Authority (PFRDA) is set to introduce a new

National Pension Scheme (NPS) that allows subscribers to maintain 50% of their investment in

equity funds until the age of 45.

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 Important Monthly Current Affairs Capsule – October 2024

● Presently, the NPS permits 50% investment in equity funds only until the age of 35, after which
the allocation to debt funds increases

● The new NPS balance lifecycle scheme is designed to manage risks and returns effectively and

is expected to launch in July or August, 2024.

● Total NPS and APY Corpus: The combined total corpus of NPS and Atal Pension Yojana (APY)

stands at ₹12.4 trillion, with expectations to reach ₹15 trillion in FY25.

● Women Subscribers: A significant trend noted was that 52% of the 1.23 crore new enrolments in

APY last fiscal year were women, indicating increased female participation.
● Total APY Enrolments: The total enrolments in APY have reached 6.6 crore, with PFRDA

expecting to add another 1.3 crore subscribers in FY25.

About PFRDA :
● Established : 2003

● Headquarters : New Delhi, Delhi

● Chairman : Deepak Mohanty

● PFRDA is the regulatory body for the overall supervision and regulation of pensions in India.

● It operates under the jurisdiction of the Ministry of Finance in the Government of India.

PhonePe collaborates with Jar to introduce Daily Savings in Digital Gold

● PhonePe announced its partnership with Jar to introduce a new ‘Daily Savings’ feature on its

platform for purchase of digital gold.

● This allows users to save in 24K digital gold through daily incremental contributions.

About PhonePe :
● Established : 2015

● Headquarters : Bangalore, Karnataka

● CEO : Sameer Nigam

Securities and Exchange Board of India Bars Axis Capital from New Debt Assignments Over Alleged
Norm Violations

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 Important Monthly Current Affairs Capsule – October 2024

● The Securities and Exchange Board of India (Sebi) restrained Axis Capital (ACL) — a wholly
owned subsidiary of Axis Bank from taking any new assignment as a merchant banker, arranger

or underwriter in the debt segment for alleged violation of the norms.

● The market regulator alleged that ACL provided guarantee or indemnity towards redemption of

non-convertible debentures (NCDs) in the guise of underwriting, which it is not permitted under

the regulations.

National Payments Corporation of India to create UPI-style payment system for Trinidad and Tobago
● The overseas arm of India's National Payments Corporation of India (NPCI) will build a digital

payments system for Trinidad and Tobago, modelled after India's United Payments Interface

(UPI).
● The NPCI International Payments Limited (NIPL) signed a deal with the Ministry of Digital

Transformation of Trinidad and Tobago to build a digital payments system modelled after India's

Unified Payments Interface (UPI) for person-to-person (P2P) and person-to-merchant (P2M)

transactions.

● Earlier in 2024, NIPL had agreed to develop digital payments systems for Peru and Namibia,

using UPI as a blueprint.

About Trinidad and Tobago :

● President : Christine Kangaloo

● Prime Minister : Keith Rowley

● Capital : Port of Spain

● Currency : Trinidad and Tobago dollar (TTD)

Axis Bank provides Rs 1 billion loan to Muthoot Capital to boost e-mobility initiatives in India
● Axis Bank has extended a Rs 1 billion loan guarantee to non-bank lender Muthoot Capital, aimed

at promoting e-mobility in India.

● The loan will help Muthoot Capital offer financing to rural and non-metro customers for

purchasing electric two-wheelers.

● GuarantCo, part of the Private Infrastructure Development Group (PIDG), is providing a 65% on-

demand credit guarantee to Axis Bank for this transaction.

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 Important Monthly Current Affairs Capsule – October 2024

● The loan is part of a broader $200 million electric vehicle (EV) framework agreement between
GuarantCo and Axis Bank.

● This is the third transaction under the EV framework agreement, following a Rs 2.5 billion loan to

Vivriti Capital in December 2023.

Google and Muthoot Finance Partner to Offer Gold-Backed Loans via Google Pay
● Global tech titan Google has tied up with Muthoot Finance to provide gold-backed loans through

its mobile payments service GPay.

● The collaboration offers loans with affordable interest rates and flexible usage options, providing

security for lenders and flexibility for borrowers.

● These announcements were made by the company officials at the 10th edition of 'Google for
India' event.

● Google is set to launch Gemini Flash 1.5 in India, enabling organizations to securely implement

cloud and AI solutions within the country.

● Google announced the launch of the Google Safety Engineering Center in India in 2025.

● Collaboration with Nandan Nilekani's EkStep Foundation to create 'DPI in a box', a plug-and-play

model based on open network principles for building digital infrastructure.

About Muthoot Finance :

● Founded : 1939

● Headquarters : Kochi, Kerala, India

● Chairman : George Jacob Muthoot

● MD : George Alexander Muthoot

Mudra loans see slight decline to ₹1.86 lakh crore in first half of the year(2024)
● For the first time since COVID-19, PMMY loans showed a decline in disbursal, totaling ₹1,86,284

crore in the first half of the current financial year (as of September 27, 2024).

● This figure is a decrease from ₹1,91,863 crore during the same period last year.

● The decrease should not be considered a significant dip, as the previous fiscal year saw a record

growth of approximately 40% in PMMY disbursals compared to the prior year.

● Loan Categories:PMMY loans are categorized into:

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 Important Monthly Current Affairs Capsule – October 2024

➢ Sishu: Up to ₹50,000.
➢ Kishore: Above ₹50,000 and up to ₹5 lakh.

➢ Tarun: Above ₹5 lakh and up to ₹10 lakh.

➢ According to data from the Ministry of Finance, there has been a steady decline in NPAs

of PMMY loans.

➢ There has been a steady decline in NPAs for PMMY loans, decreasing from 4.9% in 2019-

20 to 3.4% in 2023-24.

Bank of Baroda to Divest Oman Operations to Bank Dhofar as Part of Rationalization Plan

● State-owned Bank of Baroda (BoB) proposes to sell its Oman operation to Bank Dhofar as part of

the rationalisation of foreign operations.

● The acquisition is proposed to occur on a going-concern basis.

● The sale is subject to approval from the relevant regulatory authorities.

About BoB :
● Founded : 20 July 1908

● Headquarters : Vadodara, Gujarat, India

● MD & CEO : Debadatta Chand

● Tagline : India's International Bank

Asian Development Bank approves USD 162 million loan to boost tourism in Himachal Pradesh
● The Asian Development Bank (ADB) has approved a USD 162 million loan for tourism

development in Himachal Pradesh.

● Project Focus:The Sustainable and Inclusive Tourism Development Project aims to enhance the

state's tourism potential by upgrading and preserving heritage and cultural sites.

● The project focuses on Mandi and Hamirpur districts and includes the restoration of Naggar

Castle in Kullu.

About ADB :
● Established : 1966

● Headquarters : Manila, Philippines

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 Important Monthly Current Affairs Capsule – October 2024

● President : Masatsugu Asakawa

● Membership : 68 members, including 49 regional members (countries in Asia and the Pacific)

and 19 non-regional members (countries outside the region)

Pension Fund Regulatory and Development Authority enhances NPS offering for the private sector by
introducing a balanced life cycle fund option
● The Pension Fund Regulatory and Development Authority (PFRDA) has launched the Balanced

Life Cycle Fund (BLC) as an additional life cycle fund option for private sector subscribers under

the All Citizen model and Corporate NPS.

● This new life cycle fund launched on the occasion of Pension Diwas focuses on growth assets,

particularly equity investments, providing more flexibility and potential for higher returns for NPS

subscribers.

● Equity Allocation Strategy:The BLC maintains an equity allocation of up to 50% until the age of

45.

● Equity allocation reduction starts at age 45 instead of 35, and by age 55, it is set at 35%.

● Growth of Private Sector in NPS:The private sector (non-government sector) is the fastest-

growing segment in the NPS ecosystem, with assets under management of approximately ₹2.6

lakh crore as of mid-September.

● Variety of Life Cycle Funds:With the introduction of the BLC, there are now four life cycle funds

available for NPS subscribers:

➢ Conservative Life Cycle Fund (LC-25): Equity allocation up to 25%

➢ Moderate Life Cycle Fund (LC-50)

➢ Aggressive Life Cycle Fund (LC-75)

➢ Balanced Life Cycle Fund (BLC)

About PFRDA :
● Established : 2003

● Headquarters : New Delhi, Delhi

● Chairman : Deepak Mohanty

● PFRDA is the regulatory body for the overall supervision and regulation of pensions in India.

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 Important Monthly Current Affairs Capsule – October 2024

● It operates under the jurisdiction of the Ministry of Finance in the Government of India.
Securities and Exchange Board of India levies ₹12 lakh penalty on NSE Data & Analytics for regulatory
breaches

● Markets regulator Securities and Exchange Board of India (SEBI) imposed a penalty of Rs 12

lakh on NSE Data And Analytics Limited for its failure to segregate IT infrastructures and

manpower between itself and its parent firm National Stock Exchange (NSE).

● NSE Data and Analytics has been directed to pay the penalty within 45 days.

Life Insurance Corporation increases its stake in Pune-based Bank of Maharashtra from 4.05% to
7.10%
• State-owned Life Insurance Corporation’s (LIC) stake in Bank of Maharashtra (BoM) increased

from 4.05% to 7.10%.

• The increase in stake followed the bank’s Qualified Institutional Placement (QIP) process.

• Share Allotment: LIC acquired 3.376% additional equity by being allotted 259.6 million shares at

an average cost of ₹57.36 per share.

• Total Funds Raised: Bank of Maharashtra raised ₹3,500 crore through the QIP process.

About LIC :

• Founded : 1 September 1956

• Headquarters : Mumbai, Maharashtra, India

• Chairman : Siddharth Mohanty

About BoM :
• Founded ; 16 September 1935

• Headquarters : Pune, Maharashtra, India

• MD & CEO : Nidhu Saxena

• Tagline : One Family One Bank

India and Maldives reach currency swap agreements and agree to discuss a Free Trade Agreement
• Maldivian President Mohamed Muizzu thanked India for its financial assistance amid the

country’s debt crisis, which is estimated at 110% of its Gross Domestic Product (GDP).

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 Important Monthly Current Affairs Capsule – October 2024

• Currency Swap Agreements: India extended two currency swap agreements to the Maldives:
• One worth $400 million.

• Another worth ₹3,000 crore.

About Maldives :

• President : Mohamed Muizzu

• Capital : Malé

• Currency : Maldivian rufiyaa (MVR)

Government Anticipates Increased ₹20,000 Crore Dividend from Public Sector Banks in FY25
• The government anticipates public sector banks to pay higher dividends in FY25, projecting a
figure over ₹20,000 crore, up from ₹18,000 crore received in FY24.

• Reasons for Optimism:

• Anticipated higher profits due to stronger growth in loan books.

• Improved interest margins and robust credit offtake, particularly in rural areas.

• Previous Performance: In FY24, the Centre received ₹18,000 crore in dividends from PSBs, a

30% increase from ₹13,800 crore in FY23, reflecting strong financial performance.

Government of India Floating Rate Bond 2028 Interest Rate Set at 7.30% for October 2024 to April
2025
• The interest rate for the Government of India Floating Rate Bond 2028 (GOI FRB 2028) is set at

7.30% per annum for the period from October 4, 2024, to April 3, 2025.

• The interest rate for the Government of India Floating Rate Bond 2033 (GOI FRB 2033) is set at
7.93% per annum for the period from September 22, 2024, to March 21, 2025.

Reserve Bank of India advises banks to refrain from making aggressive positions against the rupee:
Report
• The Reserve Bank of India (RBI) has asked state-run and private banks to refrain from making

aggressive bets against the Indian rupee.

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 Important Monthly Current Affairs Capsule – October 2024

• The instructions were communicated informally via phone calls as the rupee neared a record low
of 83.9850 per US dollar.

Reserve Bank of India and Securities and Exchange Board of India express caution as Russia pushes
for increased rupee-rouble trade
• The Indian government and financial regulators, including Reserve Bank of India (RBI) and

Securities and Exchange Board of India (SEBI), are cautious about expanding rupee-rouble trade

due to existing sanctions on Russia.

• Proposals from Sberbank AG, Russia's largest bank, are under scrutiny, with several yet to be

approved.

• Sberbank aims to enhance Indo-Russian trade through various initiatives.

State Bank of India classifies Mahanagar Telephone Nigam Limited as a non-performing asset over Rs
325.53 crore outstanding debt
• State Bank of India (SBI) has declared the loan accounts of Mahanagar Telephone Nigam

Limited (MTNL) as sub-standard non-performing assets due to non-payment of instalments and

interest since June 30, 2024.

• Outstanding Debt:The total outstanding debt on the MTNL loan account was ₹325.52 crore as of

September 30, as per SBI's letter dated October 1.

• Overdue Amount:SBI indicated that ₹281.62 crore is overdue, requiring immediate payment to

regularise the account.

About MTNL :

• Founded : 1 April 1986

• Headquarters : New Delhi, India

• Chairman & MD : Ravi A. Robert

• MTNL is a wholly owned subsidiary of Bharat Sanchar Nigam Limited.

• It has its name derived from Hindi: mahanagar meaning "metropolis" (maha "big", nagar "city")

and nigam meaning "corporation".

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 Important Monthly Current Affairs Capsule – October 2024

Reliance Nippon Life Insurance unveils 'Nishchit Pension' deferred annuity plan to provide guaranteed
lifelong income for retirement
• Reliance Nippon Life Insurance Company Limited has introduced a new deferred annuity plan

named Reliance Nippon Life Nishchit Pension.

• The plan is designed to provide a guaranteed lifelong income, ensuring financial stability during

retirement.

• As per the Economic Survey, Govt of India, by 2041, 15.9% of India’s population is estimated to

be above 60 years of age (up from 9.7% in 2021).

About Reliance Nippon Life Insurance Company :

• Founded : 14 May 2001

• Headquarters : Mumbai, Maharashtra, India

• Chairman : Anil Ambani

• ED & CEO : Ashish Vohra

Ujjivan Small Finance Bank secures Reserve Bank of India approval and AD 1 License to provide
comprehensive forex products and services
• Ujjivan Small Finance Bank, announced that it has received approval from The Reserve Bank of

India (RBI) and secured an AD 1 Licence from RBI to offer full-fledged bouquet of forex products

and services.

• Retail Forex Offerings: Services include:

• Remittances (international money transfers)

• Foreign Currency Non-Resident (FCNR) accounts

• Resident Foreign Currency (RFC) deposits

• Forex cards and currency exchange

• Capital transactions like External Commercial Borrowing (ECB), Overseas Direct Investment

(ODI), and Foreign Direct Investment (FDI).

About Ujjivan Small Finance Bank :

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 Important Monthly Current Affairs Capsule – October 2024

• Founded : 1 February 2017

• Headquarters : Bangalore, Karnataka, India

• MD & CEO : Sanjeev Nautiyal

• Ujjivan Financial Services holds an 80% stake in the bank.

• It is licensed under Section 22 (1) of the Banking Regulation Act, 1949 to carry out small finance

bank business and received Scheduled Bank status from the Reserve Bank of India in August

2017.

Asian Development Bank sanctions $162 million loan to enhance infrastructure and boost tourism in
Himachal Pradesh
• The Asian Development Bank (ADB) has approved a loan of $162 million to support tourism

development in Himachal Pradesh (HP).

• The loan will help unlock the state's tourism potential through the enhancement of cultural and

heritage sites and the creation of new infrastructure aimed at strengthening the tourism sector

• Targeted Districts: The Sustainable and Inclusive Tourism Development Project focuses on

promoting heritage and cultural sites in Mandi and Hamirpur districts.

About ADB :

• Established : 1966

• Headquarters : Manila, Philippines

• President : Masatsugu Asakawa

• Membership : 68 members, including 49 regional members (countries in Asia and the Pacific)

and 19 non-regional members (countries outside the region)

Reserve Bank of India Report Predicts End of Fossil Fuel Dominance in Power Generation by Decade's
End
• According to the latest report of the Reserve Bank of India (RBI), it has estimated that the

dominance of fossil fuels in power generation will end by the end of the decade.

• The central bank estimates that renewable energy will contribute more than 50% of global

electricity generation as part of a significant energy transition.

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 Important Monthly Current Affairs Capsule – October 2024

• The report highlights the acceleration in the transition to clean energy, noting unprecedented
levels of growth in the deployment of and capital investment in clean technologies.

Reserve Bank of India Issues White-Label ATM License to Mumbai's Electronic Payment and Services
• The Reserve Bank of India (RBI) granted a white-label ATM (WLA) license to Electronic Payment

and Services (EPS), a Mumbai-based ATM outsourcing company.

• It is the first WLA license issued by RBI in a decade.

• EPS is a privately owned ATM outsourcing company based in Mumbai, backed by investors

including Apis Partners (UK) and Dutch Entrepreneurial Development Bank (FMO).

• With this license, EPS becomes the 5th white-label ATM operator in India, joining Tata

Communications Payment Solutions, India1 Payments, Hitachi Payment, and Vakrangee.

Paytm Money introduces BSE Futures & Options trading to enhance wealth management services
• Paytm Money, a wholly-owned subsidiary of One97 Communications (OCL), launched BSE

Futures & Options (BSE F&O) trading service on its platform, as part of the Noida-based

company’s efforts to expand its wealth management and financial services segment.

• This would enable users to trade index derivative contracts offered by the Bombay Stock

Exchange, including SENSEX, BANKEX, and SENSEX50.

• The platform would enable users to trade both NSE and BSE F&O contracts in one app.

About Paytm Money:

• Founded: September 20, 2017

• CEO: Rakesh Singh

• Services: SEBI-registered stock broker and depository participant offering equity & derivatives

trading, depository services, and IPO investments.

State Bank of India-led Committee Recommends Eliminating 18% GST on Co-Lending Activities
• The State Bank of India (SBI) led a committee to encourage co-lending partnerships between

commercial banks and non-banking financial companies (NBFCs).

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 Important Monthly Current Affairs Capsule – October 2024

• The committee recommended eliminating the Goods and Services Tax (GST) of 18% on co-
lending-related activities to promote co-lending growth.

• The committee suggested restricting co-lending to Priority Sector Lending (PSL) to avoid higher

risks associated with other lending sectors.

About SBI :

• Founded : 1 July 1955

• Headquarters : Mumbai, Maharashtra, India

• Chairman : Challa Sreenivasulu Setty

Securities and Exchange Board of India Proposes New Regulations for Sharing Financial Market Data
• The Securities and Exchange Board of India (SEBI) has proposed a revised framework for

sharing data aimed at promoting more democratisation, privacy, and accountability.

• Based on Sebi’s market data advisory committee (MDAC) suggestion, the regulator has

proposed that it can share data that is under its ownership, while market infrastructure institutions

(MIIs) should share their generated data through their own policies.

About SEBI :

• Established: 12 April 1988 as an executive body and was given statutory powers on 30 January

1992 through the SEBI Act, 1992

• Headquarters: Mumbai, Maharashtra

• Chairman: Madhabi Puri Buch

• SEBI is the regulatory body for securities and commodity markets in India under the ownership of

the Ministry of Finance, GoI.

HDFC Bank Secures Largest Securitisation Pool of ₹9,063 Crore, Rated AAA by India Ratings
• India’s largest private sector lender HDFC Bank has originated the largest securitisation pool of

Rs 9,063 crore, rated AAA by domestic rating agency India Ratings.

• The asset-backed securitisation transaction is backed by a pool of new car loans.

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 Important Monthly Current Affairs Capsule – October 2024

• The loan pool has been assigned to India Universal Trust for a purchase consideration equal to
100% of the pool principal outstanding.

About HDFC Bank :

• Founded : August 1994

• Headquarters : Mumbai, Maharashtra, India

• CEO : Sashidhar Jagdishan

Kotak Mahindra Bank Secures Branding Rights for BKC Metro Station on Mumbai Metro 3 Route
Inaugurated by Prime Minister Narendra Modi
• Kotak Mahindra Bank has secured branding rights for the BKC metro station on the Mumbai

Metro 3 route.

• The BKC metro station will be named "Kotak BKC Metro Station," reflecting the bank's branding.

• The Mumbai Metro 3 route, which includes the BKC station, was inaugurated by Prime Minister

Narendra Modi.

About Kotak Mahindra Bank :

• Established : 1985

• Headquarters : Mumbai, Maharashtra, India

• MD & CEO : Ashok Vaswani

• Tagline : Let's Make Money Simple

Reserve Bank of India Forecasts 7.2% GDP Growth for FY25, Expects CPI Inflation to Ease to 4.5%
• During the Monetary Policy Committee (MPC) meeting on October 9, 2024, the Reserve Bank of
India (RBI) forecasted that India's real Gross Domestic Product (GDP) growth for FY25 will reach

7.2%.

• The RBI also expects Consumer Price Index (CPI) inflation for the fiscal year to moderate to

4.5%.

Key Highlights :

• GDP Growth Projections:

• Real GDP growth for FY25: 7.2%.

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 Important Monthly Current Affairs Capsule – October 2024

• Quarterly growth estimates for FY25:

• Q2: 7.0%

• Q3: 7.4%

• Q4: 7.4%

About RBI :

• Established : 1 April 1935

• Headquarters : Mumbai, Maharashtra, India

• Governor : Shaktikanta Das

Reserve Bank of India Introduces Increased Limits for UPI123 and UPI Lite Transactions
• The Reserve Bank of India (RBI) enhanced transaction limits for UPI123Pay and UPI Lite to

encourage wider adoption of these UPI products.

• Enhanced Transaction Limits:

• UPI123Pay:

• New per-transaction limit: ₹10,000 (increased from ₹5,000).

• UPI123Pay enables UPI functionality on feature phones.

• UPI Lite:

• Per-transaction limit: ₹1,000 (increased from ₹500).

• Overall wallet limit: ₹5,000 (increased from ₹2,000).

New Capital Instrument Guidelines for Urban Cooperative Banks in Development

• The Reserve Bank of India (RBI) is developing norms for new capital-raising instruments for

Urban Cooperative Banks (UCBs), such as the issuance of shares at a premium.

• These norms will provide UCBs with more flexibility to raise resources and support sector growth.

• Urban Cooperative Banks (UCBs) are primary cooperative banks that are located in urban and

semi-urban areas.

ICICI Bank and PhonePe Collaborate to Offer UPI Credit Line to Customers

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 Important Monthly Current Affairs Capsule – October 2024

• ICICI Bank and PhonePe have partnered to provide a credit line on UPI specifically for customers
of PhonePe, a major fintech firm based in Bengaluru.

• Credit Line Details:Pre-Approved Customers: Customers approved through the PhonePe app

can access a short-term credit line from ICICI Bank.

• Credit Limit: The credit line can be up to ₹2 lakh.

• Repayment Period: Customers have a repayment period of 45 days.

About ICICI Bank :

• Established : 1994
• Headquarters : Mumbai, Maharashtra

• MD & CEO : Sandeep Bakhshi

• Tagline : Hum Hai Na, Khayal Apka

About Phonepe :

• Established : 2015

• Headquarters : Bengaluru, Karnataka, India

• CEO : Sameer Nigam

SLCM Collaborates with Punjab National Bank and Bandhan Bank to Provide Management Solutions
• Sohan Lal Commodity Management(SLCM) has partnered with Punjab National Bank (PNB) and

Bandhan Bank to provide ‘Unified Collateral Management Solutions’.

• The partnership aims to facilitate post-harvest credit for farmers and agricultural stakeholders at

competitive rates across the country.

About PNB :

• Founded : 19 May 1894

• Headquarters : Dwarka, Delhi, India

• MD & CEO : Atul Kumar Goel

• Tagline : You Can Bank Upon

About Bandhan Bank :

• Founded : 2015

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 Important Monthly Current Affairs Capsule – October 2024

• Headquarters : Kolkata, West Bengal, India

• MD & CEO : Ratan Kumar Kesh

Ministry of Finance Maintains GPF Interest Rate at 7.1% for 17th Consecutive Quarter, Effective from
October 1 to December 31, 2024
• The Union Ministry of Finance has kept the interest rate for the General Provident Fund (GPF)

unchanged for the 17th quarter in the row at 7.1% effective from October 1, 2024, to December

31, 2024..

• Recent Updates on Small Savings Schemes :

• The government has kept interest rates unchanged for various small savings schemes for the

October-December 2024 quarter:

• Sukanya Sariddhi Account: 8.2%

• Senior Citizen Savings Scheme (SCSS): 8.2%

• Public Provident Fund (PPF): 7.1%

• National Savings Certificate (NSC): 7.7%

• Post Office Monthly Income Scheme (POMIS): 7.4%

• Mahila Samman Savings Certificate: 7.5%

• Post Office Recurring Deposit Account: 6.7%

About Ministry of Finance :

• Cabinet Minister : Nirmala Sitharaman

• Minister of State : Pankaj Choudhar

Unified Payment Interface Transaction Volume Increases by 52% and Value Rises by 40% in H1CY24:
Report
• The Unified Payment Interface (UPI) transaction volumes increased by 52% in the first six

months of 2024 (H1CY24) compared to the same period in 2023 (H1CY23).

• The volume rose from 51.9 billion transactions in H1CY23 to 78.97 billion transactions in

H1CY24.

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 Important Monthly Current Affairs Capsule – October 2024

• Growth in Transaction Value:The value of UPI transactions grew by 40%, increasing from Rs
83.16 trillion in H1CY23 to Rs 116.63 trillion in H1CY24.

Reserve Bank of India directs Asset Reconstruction Companies to join all credit information companies
• The Reserve Bank of India (RBI) asked the asset reconstruction companies (ARCs) to become

members of all the credit information companies (CICs) and submit the required data to them as

per the Uniform Credit Reporting Format.

• Currently, there are four CICs-TransUnion CIBIL, Experian, Equifax, and CRIF High Mark.

• Alignment with Reporting Standards:The updated guidelines aim to align Asset Reconstruction

Companies (ARCs) with the same reporting standards used by banks and Non-Banking Financial
Companies (NBFCs).

Non-Banking Financial Companies secured ₹3.23 trillion from the domestic debt capital market in
H1FY25
• Funds raised by non-banking financial companies (NBFCs), including state-owned finance

companies and refinance institutions, from the domestic debt capital market exceeded Rs 3.2

trillion in the April to September period of financial year 2025 (H1FY25).

• Out of the total funds, over Rs 74,507 crore were raised in September, 2024 alone, marking the
highest amount in the current financial year and second highest in the calendar year.

Reserve Bank of India Approves Bond Buyback Bids Close to Rs 25,000 Crore
• The Reserve Bank of India (RBI) accepted bids worth ₹24,453.3 crore for government securities

at the buyback auction.

• The notified amount for the auction was ₹25,000 crore.

• The bids offered by banks were more than double the notified amount, reflecting strong market

appetite.

• Significance of the Auction:This auction was one of the most successful buyback auctions

conducted by the RBI since resuming such operations in May 2024, after a six-year hiatus.

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 Important Monthly Current Affairs Capsule – October 2024

Securities and Exchange Board of India extends deadline for direct payout of securities to November
11, 2024
• The Securities and Exchange Board of India (SEBI) extended the deadline to implement direct

payout of securities to the Demat account from October 14 to November 11, 2024, to ensure a

hassle-free implementation.

• Reason for Extension:

• The decision follows representations from key market participants, including clearing

corporations, exchanges, and stock brokers.

• A review meeting was conducted by SEBI with Market Infrastructure Institutions (MIIs) and the

Brokers' Industry Standards Forum (ISF).

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January

1992 through the SEBI Act, 1992

• Headquarters : Mumbai, Maharashtra

• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)

• SEBI is the regulatory body for securities and commodity markets in India under the ownership of

the Ministry of Finance (MoF), GoI.

Citigroup and Mastercard collaborate to facilitate cross-border debit card transactions

• Mastercard and Citigroup have teamed up to enable 24/7 cross-border payments using debit
cards, expanding payment options for consumers and businesses globally.

• Citigroup is the first global bank to implement the Mastercard Move service, allowing users to

make various transactions, including insurance payouts, airline refunds, and e-commerce

payments.

• The partnership aims to create a seamless payment experience, enabling clients to make cross-

border transactions without concerns about borders, currencies, or constraints.

About Mastercard :

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 Important Monthly Current Affairs Capsule – October 2024

• Founded : 1966
• Headquarters : New York, United States

• CEO : Michael Miebach

About Citigroup :

• Founded : October 8, 1998

• Headquarters : New York

• Chairman : John C. Dugan

• CEO : Jane Fraser

Reserve Bank of India releases guidance note for regulated entities to address money laundering risks

● The Reserve Bank of India (RBI) issued the "Guidance Note" aimed at regulated entities (REs),

including banks, Non-Banking Financial Companies (NBFCs), authorized persons, and payment

system operators.

Purpose of the Guidance Note:

● To assist REs in addressing risks related to money laundering (ML) and terrorist financing (TF).

● To provide guidelines for conducting internal risk assessments (IRA) concerning ML and TF.

● To support the formulation of internally developed Risk-Based Assessments (RBA).

● The note is particularly directed at the dealing staff and Anti-Money Laundering (AML) /

Countering Financing of Terrorism (CFT) / Counter Proliferation Financing (CPF) practitioners

within REs.

Securities and Exchange Board of India Panel Considers Introducing New Category of Commodity
Funds
● The Securities and Exchange Board of India (SEBI) is considering allowing mutual funds (MFs)

to launch a new category of actively managed commodity funds that invest entirely in exchange-

traded commodity derivatives (ETCDs).

● Existing ETCD Participation: In 2019, SEBI permitted mutual funds to invest in ETCDs, which are

standardised agreements traded on regulated exchanges.

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 Important Monthly Current Affairs Capsule – October 2024

● The cap for exposure to ETCDs in multi-asset schemes is set at 30% of the net asset value,
while other hybrid schemes have a cap of 10%.

● Current Investment in ETCDs: MF investment in ETCDs is estimated to be under ₹10,000 crore,

with investments currently allowed through gold and silver ETFs, backed by physical

commodities, and through gold and silver fund of funds.

● Types of Trades: Two types of trades are recognized in commodities:

➢ Calendar Spread: Involves buying a derivative for one month and selling the same asset's

derivative for another month.

➢ Directional Trade: Involves taking naked positions on commodity futures.

About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January

1992 through the SEBI Act, 1992

● Headquarters : Mumbai, Maharashtra

● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)

● SEBI is the regulatory body for securities and commodity markets in India under the ownership of

the Ministry of Finance (MoF), GoI.

Indian Overseas Bank launches new loan centres across India, introduces heritage-themed ATM in
Chennai

● Public-sector lender Indian Overseas Bank (IOB) has inaugurated 8 new Retail Loan Processing

Centres (RLPCs) across India.

● One physical RLPC is located in Chennai, while seven others were launched virtually in major

cities.

● The new RLPCs are situated in: Bangalore, Coimbatore, Delhi, Hyderabad, Kolkata, Lucknow,

Mumbai.

Objectives:
● The initiative aims to enhance customer experience and improve service delivery for retail

customers.

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 Important Monthly Current Affairs Capsule – October 2024

● Designed to streamline loan approval processes and reduce turnaround time for loan
disbursements.

● Heritage-themed ATM:IOB has also inaugurated a heritage-themed ATM at Puratchi Thalaivar Dr.

MGR Central Railway Station in Chennai.

About IOB :
● Founded : 10 February 1937

● Headquarters : Chennai, Tamil Nadu, India

● MD & CEO : Ajay Kumar Srivastava

● Tagline : Good People to Grow With

Navi rises to 5th position in Unified Payments Interface rankings for the second straight month
● Navi, a fintech company founded by Sachin Bansal, has become India's 5th-largest player in the

Unified Payments Interface (UPI) ecosystem.

● Comparison with Competitors: Navi surpassed Amazon Pay's UPI volumes in August and is

close to Cred, which processed 140 million transactions in September.

● Growth Rate: Navi experienced a 35.7% month-on-month growth in transaction volumes from

August to September, having processed 88.71 million transactions worth ₹4,651 crore in August.

● Market Share: Navi holds a 0.8% market share in the UPI ecosystem, while major competitors

like PhonePe, Google Pay, and Paytm control approximately 92.5% of the UPI transaction

volume.

● Market Leaders: In September:

➢ PhonePe remained the largest player with 7.22 billion transactions valued at ₹10.3 trillion.

➢ Google Pay followed with 5.62 billion transactions amounting to ₹7.46 trillion.

● Overall UPI Performance: In September, over 15 billion UPI transactions were processed,

totaling ₹20.63 trillion in value.

Life Insurance Corporation of India reduces maximum age limit for new endowment plan to 50 years
from 55 years
● Life Insurance Corporation of India (LIC) has reduced the maximum age limit for purchasing the

new endowment plan from 55 years to 50 years, effective October 1, 2024.

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 Important Monthly Current Affairs Capsule – October 2024

● Product Overview:The revised product is the 'LIC New Endowment Plan-914', a participating
endowment plan that offers a dual benefit of protection and savings.

● Minimum entry age for the plan is 8 years.

● Introduction of New Insurance Product:LIC has introduced a Single Premium Group Micro Term

Insurance Plan.

● It is a Non-Participating, Non-Linked, Group, Pure Risk life micro-insurance product designed for

finance institutions, cooperatives, self-help groups (SHGs), and NGOs.

● The plan aims to provide affordable life insurance coverage to members of unorganized groups
and homogeneous affinity groups.

About LIC :
● Founded : 1 September 1956

● Headquarters : Mumbai, Maharashtra, India

● Chairman : Siddharth Mohanty

Foreign Banks and Brokerages Anticipate Gradual Easing from RBI Starting in December 2024
● Foreign banks and brokerages anticipate that the Reserve Bank of India (RBI) will initiate a

"shallow rate-cutting cycle" starting in December 2024, with an aggregate reduction of 50 basis

points (bps).

● Most forecasts suggest a 25 bps cut in December, followed by another 25 bps cut in February

2025, bringing the policy rate down from the current 6.5% to 6%.

State Bank of India to increase limit for instant loan scheme benefiting MSME sector

● The State Bank of India (SBI) plans to increase the threshold for its instant loan scheme for the

MSME (Micro, Small, and Medium Enterprises) sector from the current limit of ₹5 crore to

enhance credit availability.

● The scheme, named "MSME Sahaj - End to End Digital Invoice Financing," offers a streamlined

process for applying, documenting, and disbursing loans within 15 minutes without manual

intervention.

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 Important Monthly Current Affairs Capsule – October 2024

● The bank emphasizes simplification of MSME credit by backing loans with cash flow and the
CGTMSE (Credit Guarantee Fund Trust for Micro and Small Enterprises) guarantee, which

reduces the need for collateral.

Centre for Monitoring Indian Economy Projects FY25 GDP Growth at 6.95%
● India's Gross domestic product (GDP) is projected to grow at 6.95% in FY25, according to

forecasts by 28 agencies, which is 25 basis points lower than the Reserve Bank of India's (RBI)

forecast of 7.2%.

● According to a note by the Centre for Monitoring Indian Economy (CMIE), Forecasts were

revised from 7% to 6.95% due to recent macroeconomic data and the slowdown in high-

frequency indicators.
● GST Collections:GST collections grew by 6.5% year-on-year in September 2024, the lowest in 39

months, amounting to ₹1.73 lakh crore, slightly lower than the previous month.

State Bank of India Extends Amrit Kalash and Amrit Vrishti Fixed Deposit Schemes to March 31, 2025

● The State Bank of India (SBI) has extended the Amrit Kalash and Amrit Vrishti fixed deposit

schemes until March 31, 2025.

● Originally set to conclude on September 30, 2024, the extension provides higher interest rates for

depositors.

● In February 2023, SBI introduced the Amrit Kalash scheme with special benefit in terms of higher
rate of interest.
● In July 2024, SBI launched a new special deposit called ‘Amrit Vrishti’.
Reserve Bank of India to Introduce Recipient Name Verification for Real-Time Gross Settlement and
National Electronic Funds Transfer Transactions
● The Reserve Bank of India (RBI) is proposing a new feature for RTGS (Real-Time Gross
Settlement) and NEFT (National Electronic Funds Transfer) that allows remitters to verify the
recipient's name before executing payments.
● The initiative aims to reduce instances of incorrect fund transfers and enhance customer
confidence in electronic payment systems.

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 Important Monthly Current Affairs Capsule – October 2024

● The proposal was announced by RBI Governor Shaktikanta Das during the Monetary Policy
Committee meeting on October 9, 2024.
Minority Shareholder Accuses Securities and Exchange Board of India of Collusion with ICICI Securities
in Delisting Process
● Quantum Mutual Fund and Manu Rishi Guptha, minority shareholders of ICICI Securities,

challenged the delisting plan.

● ICICI Securities and the Securities and Exchange Board of India (SEBI) are key respondents in

the case.

● The case is being heard by the National Company Law Appellate Tribunal (NCLAT) after the

Mumbai Bench of the National Company Law Tribunal (NCLT) approved ICICI Securities'
delisting plan.

● Shareholders approved the delisting in March 2024, with 72% of minority shareholders voting in

favor.

Reserve Bank of India plans to establish a data repository for integrating climate risk information

● The Reserve Bank of India (RBI) has proposed setting up a data repository to monitor climate-

related risks, known as the Reserve Bank - Climate Risk Information System (RB-CRIS).

● It will address issues like varied data sources, differing formats, and inconsistencies in frequency

and units.

Structure: RB-CRIS will have two components:

● Web-based directory: Lists data sources (meteorological, geospatial, etc.) and will be publicly

accessible on the RBI website.

● Data portal: Contains processed datasets in standardised formats, available to regulated entities

in a phased manner.

● Draft Guidelines for Climate Risk Disclosures: On February 28, 2024, RBI issued draft guidelines

for a Disclosure Framework on Climate-Related Financial Risks.

Reserve Bank of India prohibits lenders from charging pre-payment penalties on loans to Micro and
Small Enterprises

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 Important Monthly Current Affairs Capsule – October 2024

● The Reserve Bank of India (RBI) has barred banks and non-banking financial companies
(NBFCs) from levying foreclosure charges or pre-payment penalties on floating rate term loans

sanctioned to Micro and Small Enterprises (MSEs).

● Scope of Guidelines: This extends the existing prohibition on pre-payment penalties, which was

previously applicable only to individual borrowers (except for business purposes), to include MSE

loans.

Jio Payments Bank Secures Mutual Fund Distribution License from Amfi

● Jio Payments Bank, a subsidiary of Jio Financial Services, has obtained a mutual fund

distribution license from the Association of Mutual Funds in India (Amfi)

● The bank has secured a Category 1 Execution-only Platform (EOP) license, which allows it to

distribute the direct plan of mutual fund (MF) schemes.

● Currently, there are 15 Category 1 EOPs registered with Amfi.

● New Company Formation: The joint venture, named Jio BlackRock Investment Advisers, aims to

carry out investment advisory services, subject to regulatory approvals.

About Jio Payments Bank :

● Founded : 3 April 2018

● Headquarters : Navi Mumbai, India

● MD & CEO : Vinod Easwaran

NABARD Releases Results of Second National Rural Financial Inclusion Survey for 2021-22, Analyzing
1 Lakh Rural Households Post-COVID
● The National Bank for Agriculture and Rural Development (NABARD) conducted the second All

India Rural Financial Inclusion Survey (NAFIS) for the agricultural year 2021-22.

● The survey involved data collection from 100,000 rural households across all 28 states and

Union Territories, including Jammu & Kashmir and Ladakh.

● The survey highlights the essential role of financial inclusion in economic development, following

an inaugural survey conducted for the agricultural year 2016-17 with results released in August

2018.

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 Important Monthly Current Affairs Capsule – October 2024

● The survey included all 28 states and the Union Territories of Jammu & Kashmir and Ladakh.
● For agricultural households, cultivation accounted for about one-third of monthly earnings,

followed by government/private services (25%), wage labor (16%), and other enterprises (15%).

● Non-agricultural households primarily relied on government/private services (57%), followed by

wage labor (26%).

● The Kisan Credit Card (KCC) has emerged as a key tool for promoting financial inclusion in the

rural agricultural sector, showing substantial growth in coverage over the past five years.

● In total, 44% of agricultural households were found to possess a valid Kisan Credit Card (KCC).
● Overall, 54% of households with at least one member over 60 years old reported receiving it,

highlighting the importance of pensions in supporting elderly members of society.

About NABARD :
● Headquarters : Mumbai, Maharashtra, India

● Chairman : Shri. Shaji K V

● It was established on the recommendations of B. Sivaraman Committee (by Act 61, 1981 of

Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural

Development Act 1981.

● NABARD is an apex regulatory body for the overall regulation of regional rural banks and apex

cooperative banks in India.

● It is under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI).

Mastercard launches new Technology Hub in Pune to enhance growth and innovation
● Mastercard inaugurated a state-of-the-art Tech Hub in Pune,Maharashtra, India, aimed at

supporting growth and innovation within the company.

● The new campus covers nearly half a million square meters and is located at Bluegrass Business

Park in Yerwada, Pune.

● This facility is part of Mastercard's global Tech Hub ecosystem, which includes seven locations:

Arlington, Dublin, New York, Pune, St. Louis, Sydney, and Vancouver.

About Mastercard :
● Founded : 1966

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 Important Monthly Current Affairs Capsule – October 2024

● Headquarters : New York, United States

● CEO : Michael Miebach

Reserve Bank of India Governor Shaktikanta Das warns that excessive dependence on Artificial
Intelligence may threaten financial stability

● Reserve Bank of India (RBI) Governor Shaktikanta Das emphasized that while Artificial

Intelligence (AI) and machine learning (ML) offer opportunities for growth in the financial sector,

excessive dependence on these technologies could threaten financial stability.

Reserve Bank of India Directs Credit Institutions to Submit Borrower Credit Information to Credit
Information Companies Before License Cancellation or Loan Cycle Completion
● The Reserve Bank of India (RBI) has mandated credit institutions (CIs) to provide credit

information of onboarded borrowers to credit information companies (CICs) before:

➢ The cancellation of their license.

➢ The shutdown of operations.

➢ The completion of the borrower's loan cycle, whichever occurs first.

● Entities whose licenses or Certificates of Registration (CoR) have been canceled by the RBI are

not recognized as CIs under the Credit Information Companies (Regulation) Act, 2005 (CICRA).

● CICs are required to classify these entities as "Licence Cancelled Entities" in their Credit
Information Reports (CIR).

● Applicability: The provisions apply to:

○ All Commercial Banks (including Small Finance Banks, Local Area Banks, and Regional
Rural Banks, excluding Payments Banks).

○ All Primary (Urban) Co-operative Banks, State Co-operative Banks, and Central Co-

operative Banks.

○ All Non-Banking Financial Companies (including Housing Finance Companies).

○ All Asset Reconstruction Companies.

○ All Credit Information Companies.

International Finance Corporation grants $500 million loan to Axis Bank to support green projects in

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 Important Monthly Current Affairs Capsule – October 2024

India

● International Finance Corporation (IFC), part of the World Bank Group, has partnered with Axis

Bank to provide a $500 million (approx. ₹4,200 crore) loan.

● The purpose of the loan is to develop a blue finance market and scale up financing for green

projects in India.

● This is IFC's first blue investment in India and the first blue transaction by a financial institution in

the country.

What are Blue loans?

● Blue loans are financing instruments that raise and earmark funds for investments such as water

and wastewater management, reduction of marine plastic pollution, restoration of marine

ecosystems, sustainable shipping, eco-friendly tourism, and offshore renewable energy.

● In 2016, Axis Bank issued the first green US dollar bond from India.

About IFC :
● Established : July 20, 1956

● Headquarters : Washington, D.C., United States

● Managing Director : Makhtar Diop

About Axis Bank :

● Established : 3 December 1993

● Headquarters: Mumbai, Maharashtra, India

● MD & CEO: Amitabh Chaudhry

● Tagline : Badhti Ka Naam Zindagi

Bank of Baroda unveils 'Masterstroke Savings Account' for premium customers

● Bank of Baroda (BoB) launched the 'bob Masterstroke Savings Account' tailored for high-end

customers.

● Cricket legend Sachin Tendulkar was appointed as BoB’s global brand ambassador.

About BoB :
● Founded: July 20, 1908, by Sir Maharaja Sayajirao Gaekwad III.

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 Important Monthly Current Affairs Capsule – October 2024

● Headquarters : Vadodara, Gujarat, India

● MD & CEO : Debadatta Chand

● Tagline : India's International Bank

Reserve Bank of India Proposes Ban on Banks Using Group Entities to Evade Regulatory Compliance

● The Reserve Bank of India (RBI) has proposed that banks should not use group entities to

circumvent regulations applicable to them, as per a draft circular on 'forms of business and

prudential regulations for investments.'

● Investment Restrictions:

➢ Banks’ investments in any company are capped at a maximum stake of 30%.

➢ Banks are prohibited from investing in Category III Alternative Investment Funds (AIFs).

➢ Subsidiary investments in Category III AIFs are restricted by SEBI regulations.

● Limits on Sponsoring ARCs: Banks can sponsor only one Asset Reconstruction Company (ARC)

at a time, with the group’s shareholding in an ARC limited to 20%.

● Scope of Application: The circular applies to all non-banking financial companies (NBFCs),

including Housing Finance Companies, that are group entities of Scheduled Commercial Banks

and Non-Operative Financial Holding Companies.

Reserve Bank of India Considers Securities Risk on Bond Street as Rupee Declines
● The Reserve Bank of India (RBI) is closely monitoring the slowing of foreign investment in fully

accessible government bonds (FAR) due to global market volatility impacting local debt markets.

● Officials from RBI’s Financial Markets Regulation Department (FMRD) have been informally
engaging with banks, especially foreign lenders, to assess the unwinding of overseas trading

positions in Indian debt markets.

● Approximately 20-25% of the foreign investment flowing into Indian debt between September

2023 and June 2024 was estimated to be through TRS instruments.

● FAR Category Introduction:The FAR category of government securities was introduced in March

2020, allowing unrestricted overseas investment.

● Only bonds in the FAR category are eligible for inclusion in the JP Morgan bond index.

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 Important Monthly Current Affairs Capsule – October 2024

50 new payment apps express interest in joining UPI despite zero merchant discount rate

● 50 new third-party application providers (TPAPs) are eager to join the Unified Payments Interface

(UPI) despite the absence of a merchant discount rate (MDR).

● Definition of MDR : An MDR is a fee levied on a merchant by a fintech or any other payment

processing company for processing a digital transaction including UPI.

● MDR is usually a percentage of the transaction amount, typically between 1% and 3%.

● Transaction Costs: Currently, most debit UPI transactions are free, with payment-processing

costs borne by fintech companies and banks.

● MDR Possibility: Asbe indicated that MDR might only be introduced for larger merchants, not

small merchants with a turnover of less than ₹20 lakh.

About NPCI :
● Founded : 2008

● Headquarters : Mumbai, Maharashtra, India

● MD & CEO : Dilip Asbe

● The NPCI is an umbrella organization for operating retail payments and settlement systems in

India.

● It is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the
provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment &

Settlement Infrastructure in India.

Tata Digital partners with Tata AIA to introduce life insurance products on Tata Neu

● Tata Digital has collaborated with Tata AIA Life Insurance to offer life insurance products on the

Tata Neu platform.

● The launch follows the success of the co-branded credit card with HDFC Bank.

About Tata AIA Life Insurance :

● Founded : 1 April 2001

● Headquarters : Mumbai, Maharashtra, India

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 Important Monthly Current Affairs Capsule – October 2024

● CEO : Naveen Tahilyani

● It is an Indian joint venture life insurance company, formed by Tata Sons and AIA Group (AIA)

● Tata AIA offers diverse solutions such as term cover, savings plans, investment plans, and

retirement solutions.

World Bank maintains India's FY25 GDP growth forecast at 7%

● The World Bank has projected India's economic expansion at 7% for FY25, driven by robust

agricultural output and policies aimed at increasing employment growth.

Other Economic Forecasts:

● The Reserve Bank of India (RBI) has forecasted GDP growth at 7.2% for FY25.

● Some economists predict a more conservative growth rate of 6.8%.

About World Bank :

● Established : July 7, 1944

● Headquarters : Washington, D.C., United States

● President : Ajay Banga

● Membership : 189 countries (IBRD), 174 countries (IDA)

India on track to becoming third-largest economy by FY31: S&P report

● S&P Global Ratings reports that India is set to be the third-largest global economy by 2030, up
from its current position as the fifth-largest.
● The Indian economy is expected to grow rapidly over the next few years, making it the fastest-
growing major economy until 2027.
● India aims to grow its economy to $30 trillion by 2047, compared to its current size of $3.6 trillion.
About S&P Global Inc:
● Headquarters: New York, United States
● CEO: Douglas L. Peterson
● CFO: Ewout Steenbergen
● President: Douglas L. Peterson
● Founders: James H. McGraw, John A. Hill

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 Important Monthly Current Affairs Capsule – October 2024

RBI Concludes Government Securities Buyback, Accepts Rs 24,934 Cr In Bids

● The Reserve Bank of India (RBI) conducted a buyback auction, accepting bids worth Rs 24,934.4
crore, just under the notified amount of Rs 25,000 crore.
● This marks the second successful buyback operation this month and follows the resumption of
buybacks in May 2024, after a six-year pause.
What is a buy back auction?
● A buyback occurs when the owner or consignor of the item bids and/or buys it back at auction.
● These are not usually known by the audience. Buybacks are allowed by some auctioneers and
not others.
About the Reserve Bank of India (RBI):
● Established: April 1, 1935 (Kolkata)
● Headquarters: Mumbai, Maharashtra
● Governor: Shaktikanta Das
● Role: The RBI is the central bank of India, responsible for regulating the country’s monetary
policy, issuing currency, and overseeing the financial system.

RBI takes action against 4 NBFCs, ceases them from loan disbursal
● The Reserve Bank of India (RBI) has taken significant action against four Non-Banking Financial
Companies (NBFCs):
o Asirvad Micro Finance Limited
o Arohan Financial Services Limited
o DMI Finance Private Limited
o Navi Finserv Limited
● These NBFCs have been directed to halt loan sanction and disbursement activities from the
close of business on October 21, 2024.
Reserve Bank of India Expands Access to Negotiated Dealing System-Order Matching Electronic
Trading Platform

● The Reserve Bank of India (RBI) widened access to its Negotiated Dealing System-Order
Matching (NDS-OM) electronic trading platform to more regulated entities (REs).

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 Important Monthly Current Affairs Capsule – October 2024

● Newly eligible entities include Regional Rural Banks (RRBs), Local Area Banks, Non-Banking
Financial Companies (NBFCs), Housing Finance Companies, provident funds, pension funds,

and Market Infrastructure Institutions (MIIs).

What is NDS-OM?
● The Negotiated Dealing System-Order Matching (NDS-OM) is a screen-based electronic trading

platform for the secondary market trading of Government securities (G-Secs).

● It is owned by the Reserve Bank of India (RBI) and provides an anonymous order-matching

system for efficient trading.

● Eligibility Criteria:Entities must be members of the securities settlement segment of the Clearing

Corporation of India Limited (CCIL) to obtain direct access to the NDS-OM platform.

India's Software Services Exports Rise to $205.2 Billion in 2023-24: RBI Survey
● According to a Reserve Bank of India (RBI) survey, India's total exports of software services,

including services delivered by foreign affiliates of Indian companies, increased to $ 205.2 billion

during 2023-24 from $ 200.6 billion in the previous fiscal.

● Excluding Overseas Commercial Presence:Software services exports (excluding sales through

overseas commercial presence) grew by 2.8% to $190.7 billion in 2023-24.

● Major Export Destinations:The United States was the largest software export destination,

accounting for 54% of the exports.

● Europe accounted for 31%, with the United Kingdom being a key destination.

● The US dollar was the principal invoicing currency, with a 72% share, followed by the euro, rupee,

and pound sterling.

Reserve Bank of India removes lending restrictions imposed on JM Financial's non-banking subsidiary

● The Reserve Bank of India (RBI) has lifted the ban on JM Financial Products, allowing it to

resume financing activities, including loans for shares, debentures, and initial public offering (IPO)

subscriptions.

● In March,2024 the RBI had imposed restrictions on JM Financial Products due to regulatory

violations and concerns regarding governance practices.

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 Important Monthly Current Affairs Capsule – October 2024

State-owned banks eliminate processing fees on home loans to boost business

● Several state-owned banks, including Central Bank of India, Canara Bank, Indian Overseas Bank,

Bank of Baroda, and Punjab National Bank, have waived processing fees on home loans to

attract demand during the festive season, ranging from December 2024 to March 2025.

● Impact on Disbursals: Indian Overseas Bank reported a 19% quarter-on-quarter increase in

home loan disbursals, reaching ₹1,849.67 crore in Q2 of the financial year after waiving

processing fees.

World Bank and Asian Development Bank pledged $1.6 billion for Amaravati capital project starting
January 2025

● The World Bank and the Asian Development Bank (ADB) have committed a total of $1.6 billion

(₹13,600 crore) for the Phase-I development of Amaravati, the capital city of Andhra Pradesh.

● The funds will begin to be released from January 30, 2025.

About World Bank :

● Established : July 7, 1944

● Headquarters : Washington, D.C., United States

● President : Ajay Banga

About ADB :
● Established : 19 December 1966

● Headquarters : Mandaluyong, Philippines

● President : Masatsugu Asakawa

● Membership : 68 countries

Reserve Bank of India Imposes Penalties of Rs 28.30 Lakh on SG Finserve and Rs 14 Lakh on
Arunachal Pradesh Rural Bank for Regulatory Non-Compliance
● The Reserve Bank of India (RBI) imposed a penalty of Rs 28.30 lakh on SG Finserve Limited

(formerly known as Moongipa Securities).

● The penalty is due to non-compliance with specific conditions under the Certificate of

Registration (CoR) issued by RBI under Section 45IA(5) of the RBI Act, 1934.

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 Important Monthly Current Affairs Capsule – October 2024

● The action was taken under clause (a) of sub-section (1) of Section 58G read with sub-section (6)
of Section 58B of the RBI Act.

● A penalty of Rs 14 lakh was imposed on Arunachal Pradesh Rural Bank for non-compliance with:

➢ Directions on Strengthening of Prudential Norms (Provisioning, Asset Classification,

Exposure Limit).

➢ Know Your Customer (KYC) norms.

● The penalty was imposed under Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the

Banking Regulation Act, 1949.

Reserve Bank of India to Extend Real-Time Gross Settlement System for US Dollar, Euro, and British
Pound Transactions via Agreements

● The Reserve Bank of India (RBI) plans to expand the real-time gross settlement (RTGS) system

to facilitate transactions in the United States dollar, Euro, and British pound through bilateral or

multilateral agreements.

● RBI Governor Shaktikanta Das highlighted the potential of Central Bank Digital Currency (CBDC)

to support cross-border payments.

New Development Bank Approves Tenders for ₹1,734 Crore Shimla Ropeway Projects
● The New Development Bank (NDB) has approved the Himachal Pradesh Ropeways Corporation

to float advance tenders for the construction of the Shimla ropeway project valued at ₹1,734

crore.

● The project aims to decongest the state capital, Shimla, by providing an efficient transportation

alternative.

About New Development Bank :

● Headquarters : Shanghai, China

PhonePe Introduces Firecracker Insurance Policy for Diwali Celebrations

● PhonePe has collaborated with Bajaj Allianz General Insurance to offer an affordable firecracker-

related accident insurance policy for Diwali.

● The policy is specifically aimed at protecting Diwali against accidents caused by firecrackers.

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 Important Monthly Current Affairs Capsule – October 2024

Neobank Freo receives corporate agent licence from the Insurance Regulatory and Development
Authority

➢ Freo, a digital banking startup backed by Peak XV, has secured a corporate agent license from

the Insurance Regulatory and Development Authority of India (IRDAI).

➢ This license allows Freo to offer insurance products on its platform.

What is a Neobank?
● A neo bank is a digital bank that offers financial services online or through a mobile app, without

having any physical branches.

● Neo banks are also known as fintech banks, challenger banks, or digital banks.
● Business Verticals: Freo operates through three main verticals:

➢ Freo Pay: Offers UPI payments, bill payments, and co-branded credit cards with Yes Bank.

➢ Freo Save: Provides savings accounts in partnership with Equitas Small Finance Bank.

➢ Freo Credit: Previously known as MoneyTap, this vertical offers loans in collaboration with

various financial institutions, including Incred Capital and Cholamandalam Investment and

Finance.

➢ Funding and Financial Performance: In February 2024 Freo received undisclosed debt

funding from the Small Industries Development Bank of India (SIDBI).

Reserve Bank of India Prohibits Four Finance Companies from Approving and Disbursing New Loans

● The Reserve Bank of India (RBI) has banned four finance companies from sanctioning and

disbursing new loans due to excessive interest rates charged to borrowers.

● The companies affected by the ban include:

➢ Navi Finserv (led by Sachin Bansal)

➢ DMI Finance (backed by Mitsubishi UFJ Financial Group)

➢ Asirvad Micro Finance Ltd. (promoted by Manappuram Finance)

➢ Arohan Financial Services Ltd. (Kolkata-based MFI)

● The ban is effective from the close of business on October 21, 2024.

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 Important Monthly Current Affairs Capsule – October 2024

● RBI's Regulatory Powers:The RBI's actions were taken under Section 45L(1)(b) of the Reserve
Bank of India Act, 1934, highlighting its authority to regulate and enforce compliance among Non-

Banking Financial Companies (NBFCs), including NBFC-Micro Finance Institutions (MFIs).

Insurance Regulatory and Development Authority of India Extends IFRS 17 Implementation Deadline to
FY27, Allowing More Time for Companies

● The Insurance Regulatory and Development Authority of India (Irdai) has asked both bank-

sponsored and non-bank-sponsored insurance companies to implement IFRS 17 regulations by

FY27, a move that will give these companies sufficient time for implementation.

● Previously, Irdai had set a timeline of FY25 for the implementation of IFRS 17 in the insurance

sector.

What is IFRS 17?

● IFRS 17 (International Financial Reporting Standard 17) is an accounting standard that

establishes a framework for reporting insurance contracts.

● It provides guidelines for the classification of assets and liabilities in the insurance sector and

aims to ensure consistency in principles for reporting insurance contracts.

● Effective Date:IFRS 17 became effective on January 1, 2023, as developed by the International

Accounting Standards Board (IASB).

● The committee is headed by the Member (Finance and Investment) of IRDAI and will work on

effective implementation steps and provide phase-wise timelines for the new accounting

framework.

About IRDAI :
● Established : 1999

● Headquarters : Hyderabad, Telangana

● Chairperson : Debasish Panda

● The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government

of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance

industries in India.

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 Important Monthly Current Affairs Capsule – October 2024

PFC Infra Finance IFSC Limited, the First Finance Company for Power and Infrastructure Lending in
IFSC, Begins Operations After Receiving Approval from IFSCA
● PFC Infra Finance IFSC Limited (PIFIL), a wholly owned subsidiary of Power Finance

Corporation Limited (PFC), has received approval from the International Financial Services

Centres Authority (IFSCA) to commence operations as a finance company in IFSC (International

Financial Services Centre) located in GIFT City, Gujarat.

● Significance:PIFIL is notable for being the first finance company in IFSC specifically focused on

power and infrastructure lending.

● This establishment positions PFC as a global brand and strengthens India's status as a global

financial hub.

About IFSCA :
● Formed : April 27, 2020

● Headquarters : Gujarat

● Chairman : Shri K Rajaraman

● In December 2015 the first International Financial Services Centre (IFSC) in India was set up in

Gujarat International Finance Tec-City (GIFT City)

Indian Overseas Bank Introduces Mahila Shaksham Scheme to Empower Women Entrepreneurs

● Public sector Indian Overseas Bank (IOB) has launched the 'Mahila Shaksham' scheme to

finance individual women members of Self-Help Groups (SHGs).

● The scheme aligns with the Centre's Deendayal Antyodaya Yojana - National Rural Livelihoods
Mission initiative.

● Objective:The scheme aims to empower women entrepreneurs by ensuring financial self-reliance.

● It is part of the Ministry of Rural Development's 'Lakhpati Didi Yojana', which focuses on

improving the financial status of women SHG members.

About IOB :
● Founded : 10 February 1937

● Headquarters : Chennai, Tamil Nadu, India

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 Important Monthly Current Affairs Capsule – October 2024

● MD & CEO : Ajay Kumar Srivastava

● Tagline : Good people to grow with

HDFC Bank Opens Its First Branch in Singapore

● HDFC Bank, India's leading private sector bank, has inaugurated its first branch in Singapore

after receiving a wholesale banking license from the Monetary Authority of Singapore (MAS)

effective 15th October 2024.

● The new branch will enable HDFC Bank to offer a diverse range of financial products and

services to residents of Singapore.

● With this addition, HDFC Bank's international presence now includes five branches located in

Hong Kong, Bahrain, Dubai, Singapore, and an IFSC Banking Unit in Gujarat, India.

About HDFC Bank :

● Founded : August 1994

● Headquarters : Mumbai, Maharashtra, India

● MD & CEO : Sashidhar Jagdishan

● Tagline : We Understand Your World

Demat Accounts Reach 175 Million, Increasing by 4.4 Million in September 2024

● The total number of dematerialized (demat) accounts reached 175.4 million, with an increase of

4.4 million accounts in September 2024.

● Since the beginning of 2024, there has been an average addition of 4 million accounts per month.
● Definition of Demat Account:A Demat account (Dematerialized account) is a type of savings

account specifically designed for holding and trading securities in an electronic format.

● It facilitates the buying, selling, and holding of shares and other financial instruments without the

need for physical certificates.

Finance Minister Nirmala Sitharaman Approves Establishment/Expansion of Chief General Manager

Positions in Nationalised Banks

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 Important Monthly Current Affairs Capsule – October 2024

● The Finance Minister Nirmala Sitharaman has approved the establishment of Chief General
Manager posts in 5 additional nationalized banks: Bank of Maharashtra, Central Bank of India,

Indian Overseas Bank, Punjab & Sind Bank, and UCO Bank.

● Prior to this approval, CGM posts existed in 6 out of 11 nationalized banks.

● Role of CGM: The CGM position serves as an important administrative and functional layer

between the General Manager (GM) and the Executive Director (board level) in nationalized

banks

● Targeted Strategies: The additional CGMs will facilitate the development of more targeted
strategies and enhance overall performance across various banking sub-domains like retail credit,

agricultural credit, and MSME credit.

About Ministry of Finance :

● Cabinet Minister : Nirmala Sitharaman

● Minister of State : Pankaj Choudhary

State Bank of India Set to Raise ₹5,000 Crore via AT-I Bonds

● State Bank of India (SBI) plans to raise ₹5,000 crore in the domestic debt capital market through

non-convertible, perpetual, subordinated, unsecured Basel III-compliant Additional Tier I (AT-I)

bonds.
● Issue Size and Green Shoe Option: The base issue size is ₹2,000 crore, with a green shoe

option of ₹3,000 crore, allowing flexibility to raise the total amount up to ₹5,000 crore.

Bond Characteristics:
● These are perpetual bonds with equity-like characteristics.

● Call Option: The bonds come with a call option on October 24, 2034, which allows the bank to

repurchase the bonds 10 years after issuance.

● Bond Ratings: The AT-I bonds have been rated AA+ by domestic rating agencies CRISIL and

CARE.

● Previous Fundraising: In September 2024, SBI had raised ₹7,500 crore through Tier-II bonds to

strengthen its capital base.

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 Important Monthly Current Affairs Capsule – October 2024

About SBI :
● Established : 1 July 1955

● Headquarters : Mumbai, Maharashtra, India

● Chairman : Challa Sreenivasulu Setty

Maldives President Mohamed Muizzu Launches UPI Payment Service to Enhance Economy

● Maldives President Mohamed Muizzu has initiated steps to introduce India's Unified Payments

Interface (UPI) in the country, aiming to significantly benefit the Maldivian economy.

● UPI is developed by the National Payments Corporation of India (NPCI) and serves as an instant

real-time payment system facilitating inter-bank transactions via mobile phones.

● Tourism's Economic Role:Tourism is a crucial economic driver for the Maldives, contributing

nearly 30% to the GDP and accounting for over 60% of foreign exchange earnings.

About Maldives :
● President : Mohamed Muizzu

● Capital : Malé

● Currency : Maldivian rufiyaa

PB Fintech Subsidiary Receives Reserve Bank of India Approval to Launch 'Account Aggregator'
Business

● The Reserve Bank of India (RBI) has issued a ‘Certificate of Registration’ (CoR) to PB Fintech's

wholly-owned subsidiary, PB Financial Account Aggregators Private Limited, allowing it to

commence the ‘Account Aggregator’ business.

● PB Financial Account Aggregators will operate as a non-banking financial institution (NBFC)

without accepting public deposits, subject to conditions set by the RBI in the CoR.

● Previous Approvals:In January 2023, RBI granted in-principle approval for PB Financial Account

Aggregators to establish its account aggregator business.

● PB Fintech established the subsidiary in February 2022 and applied for the CoR as an NBFC-AA.

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 Important Monthly Current Affairs Capsule – October 2024

● Role of Account Aggregators:Account aggregators enable clients to accept various payment

methods, including debit cards, credit cards, cardless EMIs, UPI, bank transfers, e-wallets, and

e-mandates.

Reserve Bank of India to Conduct Trials Ahead of Digital Currency Launch

● The Reserve Bank of India (RBI) is conducting a pilot project for the Central Bank Digital

Currency (CBDC), known as the digital rupee.

● The RBI is considering collaborating with the United States (US) and the European Union (EU) to

ensure the successful implementation of the digital rupee.

● It is also expanding its partnership with the United Arab Emirates (UAE) for a cross-border CBDC

pilot in the next one to two years.

Reserve Bank of India Report Optimistic About Economic Boost from Upcoming Festive Season
Despite Current Slackness

● The Reserve Bank of India’s (RBI's) report indicates a slowdown in certain high-frequency

indicators but maintains confidence in a recovery due to anticipated consumption demand during

the festive season.

● Aggregate demand is expected to rebound as festival demand increases and consumer

confidence improves.

● Indicators of Slackness:Notable slack in Goods & Services Tax (GST) collections, auto sales,

bank credit growth, merchandise exports, and the manufacturing Purchasing Managers’ Index
(PMI) was reported.

● The gap between credit growth (12.8% year-on-year) and deposit growth (11.8% year-on-year)

has narrowed, suggesting a tightening financial environment.

● Deposit rates are expected to remain high, even with a slowdown in credit demand.

India Grants INR 487.60 Crores Line of Credit to Mauritius for Water Pipeline Replacement Project
● India has provided a new Line of Credit of INR 487.60 Crores to the Government of Mauritius for

financing a water pipeline replacement project.

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 Important Monthly Current Affairs Capsule – October 2024

● This is the first-ever ₹ denominated Line of Credit extended by India for project financing under
the Indian Development and Economic Assistance Scheme (IDEAS).

About Mauritius :
● President : Prithvirajsing Roopun

● Prime Minister : Pravind Jugnauth

● Capital : Port Louis

● Currency : Mauritian rupee (MUR)

Non-Banking Finance Companies in Microfinance Sector to Face Stricter Reporting Standards

Following RBI Crackdown on Four Firms

● Non-bank players in the microfinance (MFI) sector may be required by the Reserve Bank of India

(RBI) to submit granular monthly data, including:

● Weighted average lending rates.

● Spread charged on the cost of funds.

● This measure aims to prevent lenders from overcharging low-income borrowers, predominantly

women, after the RBI's inspection found instances of margins exceeding the 12% cap during

FY23 and FY24.

● The RBI has taken action against four non-bank entities:

● Asirvad Micro Finance Limited

● Arohan Financial Services Limited

● DMI Finance Pvt Limited

● Navi Finserv Limited

● The MFI industry's portfolio as of June 2024 was ₹4.2 lakh crore, with NBFC-MFIs contributing

40%, banks 33%, small finance banks 17%, and NBFCs 10%.

● The average loan size is ₹48,322.

● Interest Rate Variability: According to Microfinance Industry Network (MFIN), the lowest and

highest average interest rates were:

● CreditAccess Grameen: 21.38% (Q4 FY24)

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 Important Monthly Current Affairs Capsule – October 2024

● SV Creditline: 28.87% (Q1 FY25).

Reserve Bank of India Launches Scholarship Scheme for Faculty Members of Academic Institutions
● The Reserve Bank of India (RBI) has introduced a Scholarship Scheme for faculty members from

academic institutions.

● Full-time faculty members teaching economics or finance at any UGC or AICTE-recognized

university or college in India.

● Applicants must be below 55 years of age.

● Research Areas: The scholarship covers topics such as:

● Monetary and financial economics

● Banking
● Real sector issues

● Other topics of interest to the RBI

Asian Development Bank sanctions $241 million loan to enhance power distribution in West Bengal

● The Asian Development Bank (ADB) has approved a $241.3 million loan to enhance electricity

distribution in West Bengal.

● The programme aims to provide a reliable and sustainable power supply, improving the quality of

life for 8.96 million consumers across seven districts of the state.
● The initiative aligns with India's Revamped Distribution Sector Scheme, which focuses on

improving the operational efficiency of power distribution companies.

About ADB :
➢ Established : 1966

➢ Headquarters : Manila, Philippines

➢ President : Masatsugu Asakawa

➢ Membership : 68 members, including 49 regional members (countries in Asia and the Pacific)

and 19 non-regional members (countries outside the region)

Bima Sugam Digital Insurance Platform Set for Launch, Says IRDAI Chairperson Debasish Panda

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 Important Monthly Current Affairs Capsule – October 2024

● Bima Sugam, a digital insurance platform, is ready for launch as confirmed by Debasish Panda,
the chairperson of the Insurance Regulatory and Development Authority of India (IRDAI).

Components of Bima Trinity:

● Bima Vistaar: An insurance product that encompasses life, health, and property coverage.

● Bima Vahak: A system focused on women-centric insurance distribution channels.

● Health Insurance Summit: The announcement was made during the 17th Health Insurance

Summit 2024, organized by the Confederation of Indian Industry (CII).

Union Bank's Credit Pipeline Reaches ₹75,000 Crore - MD and CEO A Manimekhalai
● Union Bank of India has a robust credit pipeline of ₹75,000 crore, with ₹39,000 crore pending

sanction and ₹36,000 crore awaiting disbursement.

● Sector Focus: Loan sanctions are directed towards sectors like roads, power, real estate,

telecom, iron and steel, and cement.

● Credit Growth Target: The bank maintains its credit growth target of 11%-13% for FY24, despite

a lower-than-expected growth in the second quarter. Advances grew by 9.63% YoY to ₹9.28 lakh

crore.

About Union Bank of India :

● Founded : 11 November 1919

● Headquarters : Mumbai, Maharashtra, India

● MD & CEO : A. Manimekhalai

Insider trading regulations for mutual funds to take effect from November 1

● Nearly two years after issuing a notification, the Securities and Exchange Board of India (SEBI)

decided to implement amendments to insider trading norms for asset management companies

(AMCs), designated persons, trustees or their immediate relatives from November 1, 2024.

● Quarterly Disclosure Requirement:AMCs must disclose the holdings of designated persons,

trustees, and their immediate relatives on a quarterly basis.

● The first disclosure, showing holdings as of October 31, 2024, must be reported on the stock

exchange platform by November 1, 2024.

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 Important Monthly Current Affairs Capsule – October 2024

● For subsequent quarters, the information must be provided within 10 calendar days from the end
of the quarter.

● Transaction Reporting:Any transactions involving mutual fund units exceeding ₹15 lakh (either in

one transaction or over a series of transactions during a calendar quarter) must be reported by

the designated persons, trustees, and their immediate relatives to the AMC compliance officer

within two business days of the transaction.

About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January

1992 through the SEBI Act, 1992

● Headquarters : Mumbai, Maharashtra

● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)

● SEBI is the regulatory body for securities and commodity markets in India under the ownership of

the Ministry of Finance (MoF), GoI.

Securities and Exchange Board of India to Strengthen small and medium enterprises initial public
offerings Guidelines and Migration Rules
● The Securities and Exchange Board of India (SEBI) is preparing proposals to tighten the norms

around the listing of small and medium enterprises (SMEs) amidst a surge of investor interest

and multiple instances of gross violations and fraudulent practices in the segment.
● A consultation paper on new proposals is expected to be released within a few months, as stated

by Ashwani Bhatia, SEBI's whole-time member.

● Recent Violations:Instances of manipulation by SME promoters, such as fictitious sales and

inflating revenue, have raised concerns, prompting SEBI to take action.

Reserve Bank of India expands 'alert list' with 13 additional entities involved in unauthorized forex
trading

● The Reserve Bank of India (RBI) updated the 'Alert List' of unauthorised forex trading platforms

by adding 13 more entities, including TDFX and Inefex, taking the total to 88.

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 Important Monthly Current Affairs Capsule – October 2024

● The Alert List contains names of entities which are neither authorised to deal in forex under the
Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading

platforms (ETP) for forex transactions under the Electronic Trading Platforms (Reserve Bank)

Directions, 2018.

● Some entities in the list are Ranger Capital, TDFX, Inefex, YorkerFX, Growline, Think Markets,

Smart Prop Trader, FundedNext, Weltrade, FreshForex, FX Road, DBG Markets, and

Plusonetrade.

India expected to achieve 7.2% growth in FY25: RBI Deputy Governor Michael Debabrata Patra
● India's Gross domestic product (GDP) is projected to grow at 7.2% in the fiscal year 2024-25.

● Growth is expected to stabilize around 7% in the following fiscal year, with a potential return to an
8% growth trend thereafter.

● Global Standing:India is currently recognized as the fastest-growing major economy globally and

is the fifth largest economy by market exchange rates.

● The country is projected to become the third largest economy by 2030.

● Inflation Outlook:Inflation is projected to average 4.5% in 2024-25 and 4.1% in 2025-26.

● The Consumer Price Index (CPI) based inflation rose to 5.5% in September 2024, following a

decline in July-August, driven by increased prices in certain food items and adverse base effects.

HDFC Bank Reaches 25% Gender Diversity Goal Ahead of Schedule, Enrolling Over 17,000 Women in
FY24

● HDFC Bank surpassed its gender diversity goal of 25% women in its workforce, achieving this

one year ahead of the FY25 target.

● Women now represent 26% of HDFC Bank's 2 lakh employees, with many in the workforce being

under 30 years old.

Federal Bank Partners with Bhashini to Introduce Vernacular Support for Chatbot Feddy

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 Important Monthly Current Affairs Capsule – October 2024

● Federal Bank has signed a Memorandum of Understanding (MoU) with Bhashini, an AI-powered
language translation platform, to add vernacular language support to its AI virtual assistant,

Feddy.

● Purpose: The collaboration aims to promote banking services in vernacular languages, in line

with the Reserve Bank Innovation Hub (RBIH)'s local language initiative.

● Supported Languages: With the integration of Bhashini's language translation capabilities, Feddy

is now able to respond to user queries in 14 different Indian languages, including Hindi, Bengali,

Tamil, Telugu, Marathi, Gujarati, Kannada, Malayalam, Odia, Assamese, Punjabi, Urdu, Manipuri,
and Bodo.

About Federal Bank :

● Founded : 23 April 1931

● Headquarters : Aluva, Kochi, Kerala, India

● MD & CEO : KVS Manian

● Tagline : Your Perfect Banking Partner

Reserve Bank of India Study Shows Private Banks at the Forefront of Artificial Intelligence Adoption
● Artificial Intelligence (AI) adoption in India is gaining momentum, particularly among private

banks, with asset size and CRAR (Capital to Risk Weighted Assets Ratio) being key factors

influencing the rate of adoption.

● The size and financial health of a bank, measured by CRAR, positively influence the bank's focus

on AI. Larger banks benefit from economies of scale and have more investment capacity for AI

technologies.

● For public sector banks (PSBs), the emphasis on AI increased more than three-fold during the

same period.

● Technologies Employed by Banks: Major technologies being employed include cloud computing,

big data, automation, and data analytics, with increasing focus on newer AI technologies like

Robotic Process Automation (RPA), Internet of Things (IoT), and Natural Language Processing

(NLP).

Department of Financial Services Revamps Middle Management Structure in Nationalised Banks

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 Important Monthly Current Affairs Capsule – October 2024

● The Department of Financial Services (DFS) in the Finance Ministry announced a major revamp

of the middle level management structure in nationalised banks.

● This restructuring aims to significantly increase promotion opportunities for employees at the

Chief Manager (Scale IV) and above levels.

● New Framework: The new framework introduces a substantial increase in the number of Chief

General Managers (CGMs), General Managers (GMs), Deputy General Managers (DGMs), and

Assistant General Managers (AGMs) across the 12 nationalized banks.

● Categories Based on Business Mix: Nationalized banks are categorized based on their business

mix:
● Category A: Business Mix of less than ₹10 lakh crore.

● Category B: Business Mix of ₹10 lakh crore and above.

● CGM Distribution:

● Up to ₹4 lakh crore: 4 CGMs

● ₹4 lakh crore to ₹10 lakh crore: 8 CGMs

● Over ₹10 lakh crore: Minimum 10 CGMs, plus 1 additional CGM for each ₹1 lakh crore increase

in business mix.

● Review Timeline: The methodology for computing CGM positions may be reviewed by DFS in

FY27-28, based on the banks' business mix as of March 31, 2027.

About DFS :
● The Department of Financial Services (DFS) is a nodal department of the Ministry of Finance that

manages banking, financial services, and insurance (BFSI) in India.

State Bank of India secures ₹5,000 crore by issuing Additional Tier-I bonds at an interest rate of 7.98%

● State Bank of India (SBI) raised ₹5,000 crore through the issuance of Additional Tier-I (AT-I)

bonds.

● The bonds were issued at a coupon rate of 7.98%, which is the interest rate paid to investors.

● Purpose: The funds raised are intended to bolster SBI's capital base.

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 Important Monthly Current Affairs Capsule – October 2024

About SBI :
➢ Established : 1 July 1955

➢ Headquarters : Mumbai, Maharashtra, India

➢ Chairman : Challa Sreenivasulu Setty

Paytm Receives National Payments Corporation of India Approval to Enrol New UPI Users
● The National Payments Corporation of India (NPCI) has approved Paytm to onboard new UPI

users, contingent on compliance with procedural guidelines and circulars.

● This decision is a significant boost for Paytm, especially after setbacks earlier in the year when

the Reserve Bank of India restricted its associate company, Paytm Payments Bank Limited

(PPBL), from onboarding new UPI users.

● In March,2024 NPCI had previously granted Paytm permission to conduct UPI transactions as a

Third-Party Application Provider (TPAP), enabling it to process transactions through four banks:

SBI, Axis Bank, HDFC Bank, and YES Bank.

About NPCI :
● Founded : 2008

● Headquarters : Mumbai, Maharashtra, India

● MD & CEO : Dilip Asbe

● The NPCI is an umbrella organisation that operates retail payments and settlement systems in
India.

● It is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) under

the provisions of the Payment and Settlement Systems Act, 2007, to create a robust Payment &
Settlement Infrastructure in India.

Financial Intelligence Unit Slaps Rs 54 Lakh Penalty on Union Bank of India for Violating Prevention of
Money Laundering Act Regulations
● The Financial Intelligence Unit (FIU) imposed a penalty of Rs 54 lakh on the Union Bank of India

for failing to report suspicious transaction reports (STRs) and lacking due diligence under the

Prevention of Money Laundering Act (PMLA).

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 Important Monthly Current Affairs Capsule – October 2024

● Reason for Penalty:The penalty was issued for violations observed during an investigation that
found irregularities in compliance with KYC (Know Your Customer) and AML (Anti-Money

Laundering) protocols related to accounts at a branch in Mumbai, Maharashtra.

● The penalty notice was issued under Section 13 of the PMLA on October 1, after the FIU

substantiated charges against the bank based on written and oral submissions.

About FIU :
● Formed : November 18, 2004

● Headquarters : New Delhi

● Director : Vivek Aggarwal

● Financial Intelligence Unit—India (FIU-IND) is an organisation under the Department of Revenue,

Government of India which collects financial intelligence about offences under the Prevention of

Money Laundering Act, 2002.

Muthoot Finance Secures $400 Million via External Commercial Borrowings (ECBs)
● Muthoot Finance raised $400 million through the issuance of Senior Secured Notes.

➢ The funds were raised under its Global Medium Term Note Program totalling $2 billion.

➢ Terms of the Notes:The coupon rate for the notes is set at 6.375% per annum.

What is meant by ECBs?

● External Commercial Borrowings (ECBs) are loans that eligible entities in India take from non-
resident lenders to raise money in foreign currency. ECBs can be in the form of bank loans,

suppliers' credit, buyers' credit, or securitized instruments.

● ECBs are subject to certain parameters, including:

● A minimum average maturity of three years

● A maximum all-in-cost ceiling

● Permitted and non-permitted end-uses

About Muthoot Finance :

● Founded : 1939

● Headquarters : Kochi, Kerala, India

● Chairman : George Jacob Muthoot

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 Important Monthly Current Affairs Capsule – October 2024

Israel Joins Asian Development Bank as 69th Member and 20th Non-Regional Member

● Israel officially became the 69th member of the Asian Development Bank (ADB) and the 20th

non-regional member, effective 1st October.

● Israel submitted its application for ADB membership in January 2022, and the ADB Board of

Governors approved the membership on 14 April 2022 through Resolution No. 414.

About Israel :
1. President : Isaac Herzog

2. Prime Minister : Benjamin Netanyahu

3. Capital : Jerusalem

4. Currency : New shekel

Finance Ministry to Review Co-Lending and Micro, Small, and Medium Enterprises Credit at Public
Sector Banks
● Department of Financial Services (DFS) Secretary M Nagaraju is likely to chair this meeting with

the managing directors (MDs) and chief executive officers (CEOs) of public sector banks (PSBs)

on November 5, 2024.

● A report on co-lending submitted by the State Bank of India (SBI) to the finance ministry has

recommended eliminating the 18% Goods and Services Tax (GST) on co-lending activities.
● Recommendations:The committee's report suggests:

o No GST should be imposed on co-lending.

o Co-lending should be limited to priority sector lending.

● Financial Performance:The 12 PSBs collectively reported a net profit of over ₹1 trillion in the

financial year 2022-23.

Religare States Reserve Bank of India Rejected Proposal to Appoint Former Central Bureau of
Investigation Official to Its Board
● The Reserve Bank of India (RBI) denied Religare Enterprises' application to appoint Rakesh

Asthana as its whole-time director without providing specific reasons.

Aditya Birla Housing Finance teams up with BharatPe to transform secured lending

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 Important Monthly Current Affairs Capsule – October 2024

● Aditya Birla Housing Finance Ltd. (ABHFL), a subsidiary of Aditya Birla Capital Limited., has
partnered with BharatPe, a fintech company, to enhance access to home loans and loans against

property for BharatPe's merchant partners.

● ABHFL is the first housing finance company to collaborate with BharatPe, aiming to streamline

access to secured lending through innovative digital solutions.

● In August 2024, BharatPe expanded into secured loans by launching two-wheeler loans and

loans against mutual funds in partnership with established financial services firms.

About Aditya Birla Housing Finance Limited :

● MD & CEO : Pankaj Gadgil

About BharatPe :
● Founded : 2018

● Headquarters : New Delhi, India

● CEO : Nalin Negi

International Monetary Fund Maintains India's GDP Growth Rate at 7% for the Current Fiscal Year
● The International Monetary Fund (IMF) retained India's GDP growth rate at 7% for the fiscal year

ending March 31, 2025, and projected 6.5% growth for FY2025-26 in its World Economic Outlook

(WEO).

● Deloitte India Projection: Deloitte India's Economic Outlook also forecasts India's GDP growth
between 7% and 7.2% for the current fiscal year.

About IMF :
● Founded : 1 July 1944

● Headquarters : Washington, D.C, United States

● Managing Director : Kristalina Georgieva

● The International Monetary Fund is a major financial agency of the United Nations, and an

international financial institution funded by 190 member countries.

National Payments Corporation of India Teams Up with Al Etihad Payments to Launch Domestic Card
Scheme JAYWAN in the UAE

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 Important Monthly Current Affairs Capsule – October 2024

● National Payments Corporation of India (NPCI), through its international subsidiary NPCI
International Payments Limited (NIPL), is collaborating with Al Etihad Payments (AEP) to

establish a domestic card scheme called JAYWAN in the United Arab Emirates (UAE).

● Al Etihad Payments (AEP):AEP, the national payments entity of the UAE, was established by the

Central Bank of UAE (CBUAE) in 2023 as part of the UAE’s National Payments Strategy to

develop robust financial market infrastructure.

● JAYWAN Card Scheme:The JAYWAN card is based on India's RuPay card stack, developed by

NPCI, which has been shared with AEP to enable the UAE's digital payment sovereignty.
● This makes the UAE the first country in the GCC region to adopt the RuPay stack for its domestic

payments.

State Bank of India Study Shows 74.2% Decline in Income Disparity Among Individuals Earning Up to
Rs 5 Lakh
● A report from the State Bank of India (SBI) indicates a cumulative 74.2% decline in income

disparity for individuals earning up to Rs 5 lakh annually between fiscal years 2013-14 and 2022-

23.

● The report analyzed income disparity curves for assessment years (AY) 2014-15 and 2023-24,

indicating a rightward shift in the income distribution curve.

● Regional Tax Filing Trends:States like Maharashtra, Delhi, Gujarat, and Karnataka are nearing

saturation in Income Tax Return (ITR) filings, leading to a decline in their share of the overall tax

file base.

● Uttar Pradesh has emerged as the leader in increasing its share of the income tax file base,

followed by Bihar, Andhra Pradesh, Punjab, and Rajasthan.

● Direct Tax Contribution: The contribution of direct taxes to total tax revenue reached 56.7% in

AY24, the highest in 14 years, reflecting improved tax compliance and a shift towards a

progressive taxation regime.

India’s forex reserves decline by $2.16 billion, reaching $688.26 billion: Government data
● According to the Reserve Bank of India (RBI), India's foreign exchange reserves fell by $2.163

billion to $688.267 billion for the week ending October 18, 2024.

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 Important Monthly Current Affairs Capsule – October 2024

● In the prior week, reserves had dropped by $10.746 billion, marking one of the largest declines in
recent history, which brought the total to $690.43 billion.

● Gold Reserves: India’s gold reserves increased by $1.786 million, bringing them to $67.444

billion during the reporting week.

Indian Banks Expanded Their International Presence in 2023-24: RBI Survey

● In 2023-24, Indian banks increased their overseas presence by expanding both their balance

sheet size and the number of branches and employees.

● Increase in Overseas Staffing: Employee strength grew by 8.2% in overseas branches and 1.7%

in subsidiaries.

● For foreign banks in India, the number of branches and employees rose by 0.6% and 1.4%,

respectively.

● Foreign banks in India: 27.1% increase in interest income and 47.7% in expenses.

● Income Ratios: Total income to assets ratio for overseas branches of Indian banks rose to 6.2%

in 2023-24 (from 3.9% in 2022-23), though it was lower than the ratio for subsidiaries (7.3%) and

foreign banks in India (7.6%).

● Top Fee-Income Generating Locations: The highest fee income was from Indian bank branches
in the UK, followed by the UAE, Singapore, and Hong Kong.

Indian Bank secures ₹5,000 crore via long-term infrastructure bonds

● Chennai-based public sector lender Indian Bank has raised Rs 5,000 crore through the issuance

of long-term infrastructure bonds.

● The bond issuance was highly successful, attracting bids amounting to ₹15,925 crore, which is

3.19 times the total issue size.

Reserve Bank of India Cancels Authorization Certificate of UAE Exchange Centre

● The Reserve Bank of India (RBI) revoked the certificate of authorization (CoA) of UAE Exchange
Centre LLC (UAEEC) for failing to comply with regulatory requirements.

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 Important Monthly Current Affairs Capsule – October 2024

● UAEEC was authorized as a cross-border inbound money transfer operator (customer-to-

customer) as an 'Overseas Principal.'

CRISIL Places Long-Term Ratings of Navi Finserv and Asirvad Under Rating Watch
● The Reserve Bank of India (RBI) took action against Navi Finserv and Asirvad Microfinance,

barring them from sanctioning and disbursing loans due to excessively high interest rates

charged to borrowers.

● Following the RBI's action, CRISIL placed Asirvad's long-term ratings on "rating watch with

developing implications" and Navi's ratings on "watch negative."

About CRISIL :
● Founded : 1987

● Headquarters : Mumbai, Maharashtra, India

● MD & CEO : Amish Mehta

Asian Development Bank approves USD 434.25 million loan to support solar power project in Assam

● The Asian Development Bank (ADB) has approved a USD 434.25 million (about Rs 3,600 crore)

loan to increase renewable energy capacity and improve energy security in Assam.

● The project aims to increase renewable energy capacity, enhance energy security, and reduce

dependence on fossil fuels in Assam.

● Renewable Energy Capacity: The initiative will help Assam develop a renewable energy roadmap

to meet its solar energy target of 3,000 megawatts (MW) by 2030.

● Project Details: The Assam Solar Project includes the construction of a 500 MW grid-connected

solar photovoltaic (PV) facility in the Karbi Anglong district.

Reserve Bank of India Infuses Capital to Control Bank Funding Costs Amid Foreign Exchange Outflows
● The Reserve Bank of India (RBI) injected ₹25,000 crore into the banking system through a

Variable Rate Repo (VRR) auction.

● This was the first operation of its kind since September 24, aiming to stabilize funding costs for

banks amid increasing cash withdrawals related to festivals and foreign capital outflows.

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 Important Monthly Current Affairs Capsule – October 2024

● Impact of Foreign Portfolio Investment (FPI):India experienced a record outflow of $9.6 billion
(approximately ₹80,954 crore) from foreign equity markets in October.

● This outflow put pressure on the Indian rupee, which weakened past the 84/$1 mark.

● Foreign Exchange Reserves:India's foreign exchange reserves decreased by $2.163 billion to

$688.26 billion in the week ending October 18.

● Interest Rates:Following the liquidity crunch, the weighted average call rate (WACR) rose to

6.75%, exceeding the repo rate of 6.50%, indicating tightening liquidity conditions.

● Current Liquidity Status:Surplus liquidity in the banking system decreased, dropping to a one-
month low of ₹57,428.30 crore, highlighting the need for RBI’s intervention to maintain balance.

World Bank Launches Innovative Debt-for-Development Swap Program

● The World Bank is launching its first-ever debt-for-development swap, intended to assist

countries facing liquidity challenges by reducing debt servicing costs and redirecting funds

towards development-focused projects.

● World Bank’s Role: Unlike other banks, this marks the World Bank’s first foray into such swaps.

Its role involves:

● Facilitating cheaper financing via guarantees.

● Monitoring fund usage to ensure compliance with intended development goals.

1. Target Countries: This program targets countries with liquidity not solvency issues, particularly

those actively working towards debt sustainability but still encountering financial constraints.

2. World Bank's Expanded Toolkit: Announced by World Bank President Ajay Banga, this initiative

is part of a broader strategy to help re-profile debt for select countries, allowing them to allocate

resources towards sustainable development rather than mere debt servicing.

Ministry of Finance seeks appropriate revamp of Interest Equalisation Scheme before considering
further extension
● The Finance Ministry may extend the Interest Equalisation Scheme beyond December 31, 2024

if the Commerce Department revamps it to demonstrate that it benefits Micro, Small and Medium

Enterprises (MSMEs) and promotes exports of labour-intensive items.

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 Important Monthly Current Affairs Capsule – October 2024

● Initially implemented in April 2015 for five years, it has been extended several times post-2020,
recently in August 2024 and September 2024 for MSME manufacturer exporters.

● Objective of the Scheme:Aimed to promote exports by providing bank credit to exporters of 410

identified items and all MSMEs at subsidised interest rates.

● Banks are reimbursed by the government for the reduced interest income.

Reserve Bank of India Governor Shaktikanta Das awarded A+ grade in Central Bank Report Cards
2024 in the United States of America
● Reserve Bank of India (RBI) Governor Shaktikanta Das received an A+ grade in the Central

Bank Report Cards 2024 for the second consecutive year.

● Denmark's Christian Kettel Thomsen, and Switzerland's Thomas Jordan have also been ranked

under the 'A+' category of central bankers.

● The award was presented by Global Finance in Washington, D.C.

● Grades were assigned on an “A+” to “F” scale, evaluating success in key areas like inflation

control, economic growth targets, currency stability, and interest rate management.

● An “A” reflects outstanding performance, while an “F” indicates a clear failure.

Global Finance Magazine Recognizes State Bank of India as Best Bank in India for 2024
● The State Bank of India (SBI) was named the "Best Bank in India for 2024" by Global Finance

Magazine, a prestigious US-based financial publication.

● The award was presented at the 31st Annual Best Bank Awards event, which took place

alongside the Annual Meetings of the International Monetary Fund (IMF) and the World Bank in

Washington, D.C.
● SBI Chairman CS Setty accepted the award, which acknowledges SBI’s commitment to

delivering quality services and supporting financial inclusion across India.

● These awards are recognized globally as a benchmark for evaluating top financial institutions

and serve as a reference for corporate decision-makers, especially during economic challenges.

About SBI :
● Established : 1 July 1955

● Headquarters : Mumbai, Maharashtra, India

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 Important Monthly Current Affairs Capsule – October 2024

● Chairman : Challa Sreenivasulu Setty

Pakistan requests additional 10 billion yuan loan from China: Report

● Pakistan has requested an additional loan of 10 billion yuan (approximately USD 1.4 billion) from

China, on top of the existing 30 billion yuan (USD 4.3 billion) trade facility.

● Pakistan has fully utilized the existing 30 billion yuan facility to repay its debts.

● Extension of Facility: This request comes shortly after China extended the existing USD 4.3

billion facility for another three years.

● Debt Repayment Extension: A currency swap agreement was signed during Chinese Premier Li

Qiang's recent visit to Pakistan, extending the debt repayment period to 2027.

● Historical Context: Premier Li Qiang's visit marks the first by a Chinese premier to Pakistan in 11

years, indicating a significant diplomatic engagement between the two nations.

About Pakistan :
● President : Asif Ali Zardari

● Prime Minister : Shehbaz Sharif

● Capital : Islamabad

● Currency : Pakistani rupee (₨)

About China :
● President : Xi Jinping

● Capital : Beijing

● Currency : Renminbi

Securities and Exchange Board of India Imposes ₹16 Lakh Penalty on Edelweiss Asset Management,
CEO Radhika Gupta, and Fund Manager for Mutual Fund Rule Breaches

● Capital markets regulator Securities and Exchange Board of India (SEBI) imposed a penalty of

₹16 lakh on Edelweiss Asset Management Ltd, CEO Radhika Gupta, and fund manager Trideep

Bhattacharya for mutual fund regulation violations.

● Penalty Breakdown: The penalty was divided as follows:

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 Important Monthly Current Affairs Capsule – October 2024

● ₹8 lakh on Edelweiss Asset Management Ltd.

● ₹4 lakh each on CEO Radhika Gupta and fund manager Trideep Bhattacharya.

● Payment Deadline: The entities have been instructed to pay the penalty within 45 days.

BharatPe Rebrands 12% Club App to Invest BharatPe, Expands into Wealth Management Sector
1. BharatPe has renamed its 12% Club app to Invest BharatPe, reflecting its new focus on

investment and wealth management.

2. New Features: The platform is introducing new investment and wealth management features,

with digital gold as its first investment product.

About BharatPe :
● Founded : 2018

● Headquarters : New Delhi, India

● CEO : Nalin Negi

European Investment Bank Approves €300 Million Funding for Bengaluru Suburban Railway Project

● The European Investment Bank (EIB Global) has granted a €300 million (approximately ₹2,800

crore) loan for the Bengaluru Suburban Railway Project.

● The loan is designated for constructing a new suburban railway network, covering four dedicated

rail corridors in Bengaluru.

● Impact on Emissions:Once operational, the project will lead to an estimated 43% reduction in

CO2 emissions in Bengaluru's transport system.

● The estimated daily ridership is projected to be nearly 400,000 trips per day in 2029 (the first year

of full operation), with expectations to rise to about 1.4 million trips per day by 2040, aligning with

the anticipated population growth.

● EIB’s Contributions to India:Since 2016, the EIB has provided loans totaling €3.25 billion

(approximately ₹30,225 crore) for the transport sector in India.

● EIB's funding includes metro projects in cities such as Agra, Bengaluru, Bhopal, Kanpur,

Lucknow, and Pune.

About EIB :

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 Important Monthly Current Affairs Capsule – October 2024

● Founded: 1958
● Location: Kirchberg, Luxembourg

● President: Nadia Calviño

● The EIB is the European Union's investment bank, owned by the 27 member states, and is

recognised as the largest multilateral financial institution globally.

CSB Bank Unveils 'SME Turbo Loan' Offering Instant Credit Approvals for Small and Medium
Enterprises

● CSB Bank, a leading private sector bank, has launched a new loan product, SME Turbo Loan, to

offer quick and seamless credit access to small and medium enterprises (SMEs).

● The loan provides in-principle sanction for credit amounts up to Rs 5 crore, with facilities such as

overdrafts, term loans, and trade finance.

● The bank aims to streamline the lending process by leveraging a scorecard-based approach for

faster underwriting.

About CSB Bank :

● Founded : 26 November 1920

● Headquarters : Thrissur, Kerala, India

● MD & CEO : Pralay Mondal

Cashfree Payments Secures National Payments Corporation of India Certification for UPI Switch
Service

● Cashfree Payments has received certification from the National Payments Corporation of India

for its UPI Switch service.

● This will allow Cashfree to directly integrate with any bank's core banking software and offer a

higher transaction success rate for its merchants.

● Cashfree can offer settlement of around 12,000 transactions per second with this certification.

● With this integration, Cashfree expects a 5% increase in transaction success rates, aiding faster

merchant onboarding and access to new UPI features.

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 Important Monthly Current Affairs Capsule – October 2024

● Cashfree received the Payment Aggregator (PA) license from the Reserve Bank of India in
December 2023, allowing it to operate as a regulated entity in the payments ecosystem.

Equitas Small Finance Bank Introduces 'Selfe Loans' to Support Small Businesses Ahead of Festive
Season

● Equitas Small Finance Bank has launched ‘Selfe Loans’ ahead of the festive season to support

small businesses in meeting financial needs.

● The initiative leverages internet-based financial services to streamline loan access and aims to

reduce the risk of financial fraud for users.

About Equitas Small Finance Bank :

● Founded : 2007

● Headquarters : Chennai, Tamil Nadu, India

● MD & CEO : Vasudevan Pathangi Narasimhan

Solex Energy collaborates with State Bank of India to offer financing for solar projects

● Solex Energy has partnered with the State Bank of India (SBI) to offer solar financing options for

commercial, industrial, and institutional customers.

● As part of the partnership, SBI will offer solar financing through loans up to Rs 10 crore for solar

projects under its Surya Shakti Solar Finance Scheme across India.

● In August,2024 Tata Power Solar Systems Ltd (TPSSL) signed an agreement with ICICI Bank to

provide financing for solar units to residential and corporate customers.

About Solex Energy :

● Based in Surat, Solex Energy is in the process of expanding its solar module manufacturing

capacity to 1.5 gigawatts (GW) from 700 megawatts (MW), at present, in Tadkeshwar, Gujarat.

● Chairman & Managing Director (CMD) : Chetan Shah.

About SBI :
● Established : 1 July 1955

● Headquarters : Mumbai, Maharashtra, India

● Chairman : Challa Sreenivasulu Setty

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 Important Monthly Current Affairs Capsule – October 2024

Jio Financial Services and BlackRock Establish Asset Management Companies to Enter Mutual Funds
Market

● Jio Financial Services and BlackRock Inc. announced the establishment of two joint venture

companies to operate in the mutual fund business.

● Incorporated Companies:The joint venture companies are:

● Jio BlackRock Asset Management Private Limited

● Jio BlackRock Trustee Private Limited

About Jio Financial Services Ltd :

● Founded : 22 July 1999

● Headquarters : Mumbai, Maharashtra

InCorp Global Becomes the First Company at GIFT IFSC to Obtain Bookkeeping and Accounting

License

● InCorp Global is the first firm at the GIFT International Financial Services Centre (IFSC) to

receive a Bookkeeping, Accounting, Taxation, and Financial Crime Compliance (BATF) license.

● The BATF license is granted under the IFSCA (BATF Services) Regulations, 2024, which classify

these services as ‘financial services’ under Section 3 of the IFSCA Act, 2019.

Jio Financial Services Introduces SmartGold for Digital Gold Purchases

● Jio Financial Services, a non-banking financial company (NBFC), has introduced SmartGold,

allowing customers to buy digital gold via the JioFinance app.

● Investment Details:Customers can start investing in digital gold with a minimum amount of ₹10.

● Gold Storage and Transparency:The underlying asset is 24-karat physical gold equivalent to the

investment in SmartGold, stored in insured vaults.

Reserve Bank of India Governor Shaktikanta Das Proposes RB-CRIS to Enhance Access to Quality

Climate Risk Data

● The Reserve Bank of India (RBI) Governor Shaktikanta Das proposed the establishment of RB-

CRIS, a climate risk data repository aimed at improving the availability of high-quality climate-

related data.

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 Important Monthly Current Affairs Capsule – October 2024

● This initiative will support robust risk assessments for regulated entities and aid compliance with
RBI's climate-related financial risk disclosure framework.

● Significance of Climate Risks: Climate change poses a significant risk to the global financial

system, prompting the RBI to address data gaps related to climate risks.

● Climate Vulnerability: India ranks among the top ten most climate-vulnerable countries,

specifically holding the seventh position in the 2021 Global Climate Risk Index (CRI).

● Four Main Areas of Focus: The draft framework focuses on the following areas for disclosure:

● Governance: How the board and management oversee and manage climate risks.
● Strategy: The institution's plans to address climate risks and opportunities over different time

horizons, including stress tests and scenario analysis.

● Risk Management: Processes for identifying, evaluating, and integrating climate risks into overall

risk management systems.

● Metrics and Targets: Performance data on climate risks, including key risk indicators, established

targets, and progress towards these targets.

Banks and Major Financial Institutions Required to Disclose Climate Change Risk Management

Frameworks by FY26

● Banks and large finance companies will have to disclose their governance, strategy, and risk

management structures to manage climate change risks by FY26.

● The draft disclosure framework on climate-related financial risks was released by the central

bank.

● These guidelines shall be called the Disclosure Framework on Climate-related Financial Risks,

2024.

● The framework includes definitions for key terms related to climate-related financial risks and is

applicable to various financial institutions, including scheduled commercial banks, urban

cooperative banks, financial institutions, and non-banking financial companies.

● The REs include commercial banks (excluding Local Area Banks, Payments Banks and Regional

Rural Banks), certain primary (Urban) cooperative banks, All All-India Financial Institutions (viz.

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 Important Monthly Current Affairs Capsule – October 2024

EXIM Bank, NABARD, NaBFID, NHB and SIDBI) and all large non-banking financial companies
(NBFCs).

ManipalCigna Health Insurance Introduces New Health Plan, 'ManipalCigna Sarvah'

● ManipalCigna Health Insurance, a rapidly growing standalone health insurance company, has

introduced a new health insurance product named 'ManipalCigna Sarvah.'

● Sarvah,meaning "For All," is designed to provide a comprehensive health insurance solution,

offering affordable and inclusive coverage aimed at various customer segments, particularly

focusing on the "missing middle" population in Bharat.

● Tailored Plans: The 'ManipalCigna Sarvah' product offers three customized plans:

● Sarvah Pratham: Entry-level coverage.

● Sarvah Uttam: Enhanced coverage options.

● Sarvah Param: Premium health coverage with extensive benefits.

About ManipalCigna Health Insurance :

● Managing Director and CEO : Prasun Sikdar

● ManipalCigna Health Insurance is a joint venture between the Manipal Group, known for its

contributions to healthcare and education in India, and Cigna Healthcare, a global health services

provider with over 230 years of experience.

NATIONAL NEWS
Prime Minister Narendra Modi Inaugurates and Dedicates Projects Worth ₹11,200 Crore in Maharashtra
● Prime Minister Narendra Modi inaugurated several significant projects in Maharashtra via video
conferencing, including the first phase of the Pune Metro and the upgraded Solapur Airport.
● The total investment for these initiatives exceeds ₹11,200 crore, initially set for unveiling on
September 26, but postponed due to heavy rains.
Government Plans Simultaneous Elections: Three Key Bills to be Introduced
● The government intends to introduce three bills aimed at facilitating simultaneous elections
across the country.
● Two of these bills will propose amendments to the Constitution, specifically to align local body
elections with those of the Lok Sabha and state assemblies.

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 Important Monthly Current Affairs Capsule – October 2024

Details of the Proposed Bills:

5. First Constitutional Amendment Bill:
o This bill will provide for holding Lok Sabha and state legislative assembly elections
simultaneously.
o It seeks to amend Article 82A by adding a sub-clause regarding the appointed date and
another for the end of terms of Lok Sabha and state assemblies.
o Provisions will be made to amend Article 83(2) and insert new sub-clauses about the
duration and dissolution of the Lok Sabha.
o It will also amend Article 327 to include the term "simultaneous elections".
o Importantly, this bill will not require ratification by at least 50% of the states.
6. Second Constitutional Amendment Bill:
o This bill aims to create provisions for holding simultaneous elections for municipalities and
panchayats, alongside Lok Sabha and state legislative assemblies by inserting a new
Article 324A.
o It will require ratification by at least 50% of the state assemblies as it pertains to state
affairs.
7. Third Bill (Ordinary Legislation):
o This bill will amend provisions in three laws governing Union territories with legislative
assemblies, namely Puducherry, Delhi, and Jammu and Kashmir.
o It aims to align the terms of these legislative assemblies with those of other assemblies
and the Lok Sabha.
o The laws to be amended include:
▪ Government of National Capital Territory of Delhi Act-1991
▪ Government of Union Territories Act-1963
▪ Jammu and Kashmir Reorganisation Act-2019
o This ordinary bill will not necessitate constitutional amendments and will not require state
ratification.
Prime Minister Modi to Celebrate 10 Years of Swachh Bharat Mission on October 2

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 Important Monthly Current Affairs Capsule – October 2024

● Prime Minister Narendra Modi will commemorate the completion of 10 years since the launch of the
Swachh Bharat Mission by participating in the Swachh Bharat Diwas programme on October 2.
● This event will take place at Vigyan Bhawan, New Delhi.
● The programme will highlight India's decade-long achievements in sanitation and cleanliness and
showcase the outcomes of the recently concluded "Swachhata Hi Seva" campaign.
o PM Modi will launch and lay foundation stones for several sanitation and cleanliness projects
worth over Rs 9,600 crore.
● Project Breakdown:
o Urban Water and Sewage Systems:
▪ Projects worth more than Rs 6,800 crore under the AMRUT and AMRUT 2.0 schemes.
o Ganga Basin Initiatives:
▪ 10 projects focused on improving water quality and waste management in Ganga basin
areas, valued at over Rs 1,550 crore under the National Mission for Clean Ganga.
o Compressed Biogas Plants:
▪ 15 projects worth more than Rs 1,332 crore under the GOBARdhan scheme.
● Theme of Swachhata Hi Seva 2024:
o The theme, “Swabhav Swachhata, Sanskaar Swachhata,” aims to unify the nation in its
dedication to cleanliness, public health, and environmental sustainability.
Delhi Launches "Advanced Green War Room" to Combat Air Pollution
● Delhi Environment Minister Gopal Rai inaugurated an “Advanced Green War Room” at the Delhi
Secretariat, aimed at monitoring and tackling air pollution in the capital, especially as winter
approaches.
● This initiative is part of a broader 21-point winter action plan announced.
● The Green War Room will operate 24/7 to track updates related to air pollution and ensure effective
implementation of government measures against pollution.
● The war room will be managed by an eight-member team of environmental engineers led by Nandita
Moitra from the Delhi Pollution Control Committee (DPCC).
Amitabh Kant on IBC Reforms and Economic Transformation

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 Important Monthly Current Affairs Capsule – October 2024

● Amitabh Kant, former NITI Aayog CEO and India's G20 Sherpa, highlighted the transformative
impact of the Insolvency and Bankruptcy Code (IBC) on India's economy during the 8th Annual Day
Lecture of the Insolvency and Bankruptcy Board of India (IBBI) in New Delhi.
● Kant emphasized the need for second-generation reforms to address current challenges in the IBC’s
functioning.
Launch of Centralised Portal for Prime Minister's Internship Scheme
● The Prime Minister's Internship Scheme, designed to skill 1 crore (10 million) youth at the top 500
companies in India, is set to launch soon.
● Companies can start posting their internship requirements online from October 3, with the dedicated
portal opening for candidates around October 12.
● Eligibility criteria include:
o Candidates aged 21 to 24 years.
o Must have completed Class 10 and not be engaged in full-time employment.
o Ineligible candidates include those graduating from IITs, IIMs, IISER, or with professional
degrees like chartered accountants or cost accountants.
o Excludes individuals from families with government jobs or annual incomes exceeding Rs 8
lakh.
Government launches PM E-DRIVE subsidy scheme for EVs with Rs 10,900 crores outlay
● The government launched the PM E-DRIVE Scheme, aimed at promoting the adoption of electric
vehicles (EVs) in India.
● The initiative comes with an outlay of Rs 10,900 crore, focusing on setting up charging infrastructure
and developing the EV manufacturing ecosystem in the country.
● The scheme will run until March 31, 2026.
Key Features of the PM E-DRIVE Scheme:
● Subsumption of EMPS-2024:
o The Electric Mobility Promotion Scheme (EMPS-2024), which was to be implemented from
April 1, 2024 to September 30, 2024, is now subsumed under the PM E-DRIVE scheme.
● Subsidy Structure:

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 Important Monthly Current Affairs Capsule – October 2024

o The subsidy for electric two-wheelers (e-2Ws) is fixed at Rs 5,000 per kilowatt-hour of
battery power, with a maximum incentive of Rs 10,000 in the first year.
o In the second year, the subsidy will be reduced by Rs 2,500 per kWh, capping the overall
benefit at Rs 5,000.
o Popular electric scooter manufacturers like Ola, TVS, Ather Energy, Hero Vida, and
Chetak Bajaj have battery capacities ranging from 2.88 kWh to 4 kWh with prices between
Rs 90,000 to Rs 1.5 lakh
o A total of Rs 3,679 crore has been allocated for subsidies to support various electric
vehicles, including:
▪ 24.79 lakh e-2Ws
▪ 3.16 lakh e-3Ws
▪ 14,028 e-buses
Government notifies new labelling rules for green products
● The Union Environment Ministry has officially notified the Ecomark Rules, 2024, recasting its
flagship scheme for labelling eco-friendly products.
● This notification comes almost a year after the draft rules were issued, marking a significant step
towards promoting sustainability in consumer goods.
India Among Top Global Performers in H1FY25 Market Performance
● India emerged as the second-best performing major global market during the first half of FY 2024-25
(H1FY25), closely following Hong Kong.
● Despite a 17.5% surge in the Hang Seng index in September, India showed consistent growth
across the first half, cementing its position as a leading global market.
Key Points:
● Top Performing Global Markets:
o Hong Kong led with a late rally in September.
o India, Singapore, the US, and China ranked in the top five best-performing global markets.
Prime Minister Modi's Visit to Hazaribag: Inauguration of ₹83,300 Crore Projects for Tribal Upliftment
● Prime Minister Narendra Modi will visit Hazaribag, Jharkhand, where he will launch, inaugurate, and
lay the foundation stones for projects worth over ₹83,300 crore.

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 Important Monthly Current Affairs Capsule – October 2024

● These initiatives are set to impact over 5 crore tribal individuals across 63,000 villages in 30 states
and Union Territories
● Dharti Aaba Janjatiya Gram Utkarsh Abhiyan: The flagship scheme, with an allocation of over
₹79,150 crore, aims to bridge gaps in social infrastructure, healthcare, education, and livelihoods. It
will be implemented through 25 focused initiatives under the leadership of 17 ministries and
departments of the Government of India.
● Education for Tribal Students: PM Modi will inaugurate 40 Eklavya Model Residential Schools
(EMRS) and lay the foundation for 25 more, with an investment of ₹2,800 crore, ensuring quality
education and residential facilities for tribal students.
● Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN): Launch and dedication of
initiatives worth over ₹1,360 crore, including:
o 1,380 km of new roads.
o Construction of 120 Anganwadi centers, 250 multipurpose centers, and 10 school hostels.
o Electrification of 75,800 Particularly Vulnerable Tribal Groups (PVTG) households across
3,000 villages.
o 275 mobile medical units and 250 Van Dhan Vikas Kendras.
o Provision of clean drinking water to 5,550 PVTG villages under the ‘Nal se Jal’ program.
Launch of Dharti Aaba Janjatiya Gram Utkarsh Abhiyan (DAJGUA)
● Prime Minister Shri Narendra Modi launched the Dharti Aaba Janjatiya Gram Utkarsh Abhiyan
(DAJGUA) on Mahatma Gandhi's birth anniversary from Hazaribagh, Jharkhand.
● The scheme has a total outlay of ₹79,156 crores, with contributions of ₹56,333 crores from the
Central government and ₹22,823 crores from the State government.
● The scheme will cover 63,843 villages and benefit over 5 crore tribal people across 549 districts and
2,911 blocks in 30 States/UTs.
● The mission consists of 25 interventions aimed at achieving the following goals over the next 5 years:
● Supported Schemes: The Abhiyan includes innovative schemes to promote livelihood and income
generation among tribal and forest-dwelling communities, such as:
● Tribal Home Stay
● Improving infrastructure of Government Residential Schools and Hostels

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 Important Monthly Current Affairs Capsule – October 2024

● Sustainable Livelihood for Forest Right Holders (FRA)

● Advanced Facilities for Diagnosis of Sickle Cell Disease
● Tribal Multipurpose Marketing Centre
● Reference for the Scheme: The Dharti Aaba Janjatiya Gram Utkarsh Abhiyan is based on the
learnings and successes of the PM-JANMAN, launched on Janjatiya Gaurav Divas on 15th
November 2023, which had a budget outlay of ₹24,104 crores and focused on the Particularly
Vulnerable Tribal Groups (PVTG) population.
India-Jamaica Relations Strengthened with 'Jamaica Marg' Announcement
● During a joint press conference with Jamaican Prime Minister Andrew Holness, Prime Minister
Narendra Modi announced the official naming of the road in front of the Jamaica High Commission in
New Delhi as 'Jamaica Marg.'
● This gesture underscores the strengthening diplomatic ties between India and Jamaica.
Prime Minister Holness's visit marks several important milestones:
● It is his first official trip to India.
● This is the first-ever bilateral visit by a Jamaican Prime Minister.
Dr. Mansukh Mandaviya Chairs the 4th General Council Meeting of the Khelo India Scheme
● The 4th meeting of the General Council (GC) for the Khelo India Scheme took place in New Delhi,
chaired by Union Minister of Youth Affairs & Sports and Labour & Employment, Dr. Mansukh
Mandaviya.
● The meeting saw participation from senior officials from various states, prominent Sports Control
Boards, National Sports Federations, and key representatives from Central Ministries.
The Union Minister for Ports, Shipping, and Waterways, Shri Sarbananda Sonowal launched the ‘Cruise
Bharat Mission,’ to Double Cruise Calls and Passengers within Five years
● The Union Minister of Ports, Shipping & Waterways (MoPSW), Shri Sarbananda Sonowal, officially
launched the Cruise Bharat Mission from the Mumbai port, aimed at unlocking the tremendous
potential of cruise tourism in India.
● The mission seeks to double cruise passenger traffic by 2029 and establish India as a leading global
cruise destination.
● Launch Venue: The initiative was launched onboard the cruise ship Empress.

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 Important Monthly Current Affairs Capsule – October 2024

● Duration: The Cruise India Mission will be implemented in three phases from October 1, 2024, to
March 31, 2029.
● Phase 1 (Oct 2024 - Sep 2025): Focus on studies, master planning, forming cruise alliances, and
modernizing existing cruise terminals and marinas.
● Phase 2 (Oct 2025 - Mar 2027): Development of new cruise terminals, marinas, and activation of
high-potential cruise locations.
● Phase 3 (Apr 2027 - Mar 2029): Integration of all cruise circuits across the Indian subcontinent and
continued development of cruise infrastructure.
Union Cabinet Approves Classical Language Status for Five Languages
● The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the conferment of
Classical Language status to Marathi, Pali, Prakrit, Assamese, and Bengali.
● This initiative aims to recognize these languages as custodians of India's profound cultural heritage.
● Expert Committee Formation: A Linguistic Experts Committee (LEC) was established by the Ministry
of Culture in November 2004 to examine languages for classical status.
● Revised Criteria (November 2005):
o Increased antiquity of early texts to 1,500-2,000 years.
o Inclusion of literary discontinuity between classical and modern forms.
Previous Classical Language Declarations
The following languages have been conferred Classical Language status:
Language Date of Notification
Tamil 12/10/2004
Sanskrit 25/11/2005
Telugu 31/10/2008
Kannada 31/10/2008
Malayalam 08/08/2013
Odia 01/03/2014
Union Cabinet Approves Rationalization of Agricultural Schemes
● The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved a proposal from
the Department of Agriculture & Farmers Welfare (DA&FW) to rationalize all Centrally Sponsored

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 Important Monthly Current Affairs Capsule – October 2024

Schemes (CSS) under the Ministry of Agriculture and Farmers into two umbrella schemes: Pradhan
Mantri Rashtriya Krishi Vikas Yojana (PM-RKVY) and Krishonnati Yojana (KY).
● PM-RKVY:
o A cafeteria scheme aimed at promoting sustainable agriculture.
● Krishonnati Yojana (KY):
o Focused on food security and achieving agricultural self-sufficiency.
● Total Expenditure:
o The proposed total expenditure for both schemes is Rs. 1,01,321.61 crore.
o The schemes will be implemented through State Governments.
Financial Breakdown
● Central Share: Rs. 69,088.98 crore
● State Share: Rs. 32,232.63 crore
● Breakdown: Includes Rs. 57,074.72 crore for PM-RKVY and Rs. 44,246.89 crore for KY.
Components Under PM-RKVY
The PM-RKVY will include the following schemes:
3. Soil Health Management
4. Rainfed Area Development
5. AgroForestry
6. Paramparagat Krishi Vikas Yojana
7. Agricultural Mechanization (including Crop Residue Management)
8. Per Drop More Crop
9. Crop Diversification Programme
10. RKVY DPR component
11. Accelerator Fund for Agri Startups
Reserve Bank of India Publishes Research Study titled “Status of Digital Financial Literacy in
Lakshadweep Islands: Bottlenecks and Way Forward”
● The Reserve Bank of India (RBI) placed on its website a research study titled “Status of Digital

Financial Literacy in Lakshadweep Islands: Bottlenecks and Way Forward” under the Project

Research Study.

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● The study is based on the primary data collected from all the ten inhabited islands in
Lakshadweep - Agatti, Amini, Andrott, Bitra, Chetlat, Kadmat, Kalpeni, Kavaratti, Kiltan and

Minicoy - to analyse the present status of digital financial literacy and digital financial inclusion.

● Automated Teller Machines (ATMs) were the most popularly used means of digital banking in the

islands.

● About 90% of the respondents in the islands had ATM cards, while 80% reported an actual

usage of these cards.

Government of India sets ₹50,000 crore limit for Ways and Means Advances (WMA) for H2 FY 2024-25
● The limit for Ways and Means Advances for October 2024 to March 2025 has been set at

₹50,000 crore in consultation with the Government of India.

● The Reserve Bank of India (RBI) may initiate the floatation of fresh market loans when the

government utilizes 75% of the WMA limit.

● The RBI retains the flexibility to revise the WMA limit at any time based on the prevailing

circumstances.

Visa launches platform enabling global banks to issue stablecoins and digital tokens

● Visa has launched the Visa Tokenized Asset Platform (VTAP), a platform aimed at helping global

banks issue stablecoins and fiat-backed tokens.

● It will enable banks to mint, burn, and transfer these tokens, leveraging blockchain technology.

● VTAP is expected to go live in 2025 and aims to support banks in utilizing blockchain technology

for stablecoin issuance and token management.

Reserve Bank of India introduces draft guidelines for credit derivatives to boost corporate bond market
liquidity

● The Reserve Bank of India (RBI) has come up with ‘RBI (Credit Derivatives) Directions, 2021 –

Draft’ as the development of the Credit Default Swap (CDS) market is sine qua non for the

development of a liquid market for corporate bonds, especially for the bonds of lower-rated

issuers.

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What is meant by Credit Default Swap (CDS)?

● CDS is a credit derivative contract in which one counterparty (protection seller) commits to

compensate the other counterparty (protection buyer) for the loss in the value of an underlying

debt instrument resulting from a credit event with respect to a reference entity.

● The protection buyer makes periodic payments (premium) to the protection seller until the

maturity of the contract or the credit event, whichever is earlier.

● CDS is a tool to transfer and manage credit risk in an effective manner through redistribution of

risk.

● The RBI will allow only single-name CDS contracts.

● Debt instruments which will be eligible to be a reference / deliverable obligation in a CDS contract
include Commercial Papers, Certificates of Deposit and Non-Convertible Debentures of original

maturity up to one year; Rated Indian Rupee (INR) denominated corporate bonds (listed and

unlisted); and Unrated INR bonds issued by the Special Purpose Vehicles set up by

infrastructure companies.

Narendra Modi Completes 23 Years in Public Office

• October 7, 2024 marks 23 years of Narendra Modi's public service, starting from his tenure as

the Chief Minister of Gujarat on October 7, 2001, to his current role as Prime Minister of India.

• His governance has been characterised by implementing numerous welfare programs, both at

the state and national levels.

• Gujarat Model: Many of the NDA government’s welfare programs at the Centre draw inspiration

from Modi’s initiatives during his time as Gujarat's Chief Minister. Often referred to as the ‘Gujarat

Model’, these programs focus on:

o Water conservation

o Tree plantation drives

o Promotion of ethnic products

o Encouraging sporting culture

o Celebrating the Constitution

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Government Allocates ₹1,000 Crore Venture Fund for Space Startups

• The Indian government has earmarked ₹1,000 crore for a Venture Fund dedicated to space

startups, as announced by Dr. Jitendra Singh, Union Minister of State (Independent Charge) for

Science and Technology, during a media briefing.

• This initiative is part of the first 100 days of the Modi 3.0 government, highlighting the

government's commitment to prioritizing the space sector.

• Focus on Space Sector:

o The space sector is identified as one of the top priorities of the government in its third term
(3.0).

Union Health Ministry Doubles Nutrition Support for TB Patients Under Ni-kshay Poshan Yojana

• The Union Health Ministry announced a significant boost to its anti-tuberculosis (TB) efforts by

doubling the monthly nutrition support for TB patients from ₹500 to ₹1,000 under the Ni-kshay

Poshan Yojana (NPY).

• This move aims to enhance the well-being of TB patients by addressing their nutritional needs

during treatment.

• TB patients will now receive ₹1,000 per month, up from the previous ₹500, to aid in their

recovery.

• Additionally, patients will be eligible for ₹3,000 to ₹6,000 in total support under the enhanced

NPY.

Government Sets Cotton Yield Target of 1,000 kg per Hectare

• Union Minister Giriraj Singh announced the government’s ambitious target of achieving a cotton

yield of 1,000 kilograms per hectare across 11 top cotton-producing states in India.

• This initiative aims to replicate successful practices from Akola, Maharashtra.

• Akola Model: The High-Density Planting System (HDPS) model being utilized in Akola involves

planting more cotton plants in a smaller area, enhancing overall yield.

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• Current Yield: India's current cotton yield stands at approximately 450 kg per hectare,
significantly lower than that of global competitors like China, Australia, and Brazil, which report

yields of 2,000-2,200 kg per hectare.

• Top Cotton-Producing States: The target will be implemented in states including Gujarat,

Maharashtra, Telangana, Rajasthan, Karnataka, Andhra Pradesh, Haryana, Madhya Pradesh,

Punjab, and Odisha.

India Eliminates Trachoma as a Public Health Problem: WHO Certification

• The World Health Organisation (WHO) has declared that India has eliminated Trachoma as a

public health problem.

• India becomes the third country in the WHO South-East Asia Region to achieve this milestone.

• The official certification was presented to Smt. Aradhana Patnaik, Additional Secretary and

Mission Director of the National Health Mission, by Ms. Saima Wazed, Regional Director, WHO

South-East Asia, at the WHO Regional Committee meeting in New Delhi.

Prime Minister Modi's Visit to Lao PDR for ASEAN-India and East Asia Summits Amid Geopolitical

Challenges

• Prime Minister Narendra Modi is set to visit Lao PDR to participate in the 21st ASEAN-India

and 19th East Asia Summit.

• This comes as ASEAN faces challenges from Myanmar's civil conflict and rising tensions in the

South China Sea.

• The visit underscores India’s decade of engagement with ASEAN under the Act East Policy.

• Objective: Review the progress of the Comprehensive Strategic Partnership between India and

ASEAN and chart future cooperation.

Union Cabinet approves construction of 2,280 km of roads in border areas of Rajasthan.

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the construction of 2,280

km of roads.

• The project focuses on the border areas of Rajasthan and Punjab.

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• The total investment for the project is ₹4,406 crore.

• Prime Minister Modi has prioritised infrastructure development in border regions to improve

overall connectivity.

Deal For 31 MQ-9B Drones Gets Final Nod, Indian Army And Air Force To Jointly Deploy 16 At Two

Bases In UP

• The Cabinet Committee on Security has approved the acquisition of 31 MQ-9B drones from

American firm General Atomics.

• The approval was essential before October 31 to ensure the validity of the American proposal.

• Delivery Timeline: The Indian defence forces are expected to start receiving the drones over a

four-year period following the finalisation of the deal.

Cabinet approves development of National Maritime Heritage Complex (NMHC), Lothal, Gujarat

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the development of the

National Maritime Heritage Complex (NMHC) at Lothal, Gujarat.

• The project will be completed in two phases and aims to showcase India's 4,500-year-old

maritime heritage.

• The Cabinet has given in-principle approval for Phase 1B and Phase 2 of the project.

Cabinet approves continuation of supply of free Fortified Rice under Pradhan Mantri Garib Kalyan

Yojana

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the continuation of the

universal supply of Fortified Rice under various government schemes, including the Pradhan

Mantri Garib Kalyan Anna Yojana (PMGKAY).

• The initiative will continue from July 2024 to December 2028.

• The fortification of rice will be a central sector initiative, funded 100% by the Government of India.

PM’s address at the laying of the foundation stone of various development projects Worth Over ₹7,600

Crore in Maharashtra

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• Prime Minister Narendra Modi laid the foundation stone for development projects worth over
₹7,600 crore in Maharashtra via video conference.

• Laid the foundation stone for the New Integrated Terminal Building at Shirdi Airport, costing over

₹645 crore.

• 10 new Government Medical Colleges were launched in Mumbai, Nashik, Jalna, Amravati,

Gadchiroli, Buldhana, Washim, Bhandara, Hingoli, and Ambernath (Thane).

• This initiative aims to provide affordable and accessible healthcare across Maharashtra.

Key Decisions of the 194th ESI Corporation Meeting Chaired by Dr. Mansukh Mandaviya

• Dr Mansukh Mandaviya, Union Minister for Labour & Employment and Youth Affairs & Sports,

presided over the 194th meeting of the ESI Corporation, accompanied by Sushri Shobha

Karandlaje, Union Minister of State for Labour & Employment and Micro, Small & Medium

Enterprises.

• The meeting focused on pivotal decisions to enhance infrastructure and medical facilities under

ESIC across India.

• Establishment of New ESIC Medical Colleges

• Locations: Andheri (Maharashtra), Basaidarapur (Delhi), Guwahati-Beltola (Assam), Indore

(Madhya Pradesh), Jaipur (Rajasthan), Ludhiana (Punjab), Naroda-Bapunagar (Gujarat), Noida

& Varanasi (Uttar Pradesh), Ranchi (Jharkhand).

Cabinet Committee on Security (CCS) Approves Phase III of Space-Based Surveillance Mission

• The Cabinet Committee on Security (CCS), headed by Prime Minister Narendra Modi, has

approved Phase III of the Space-Based Surveillance (SBS) mission for enhanced land and

maritime domain awareness.

• The project serves both civilian and military applications and is being managed by the National

Security Council Secretariat along with the Defence Space Agency under the Ministry of

Defence.

• The mission involves the launch of 52 surveillance satellites in low earth orbit and geostationary
orbit over the next decade.

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 Important Monthly Current Affairs Capsule – October 2024

• The total cost of the project is estimated to be ₹26,968 crore, with 21 satellites constructed by
ISRO and the remaining 31 satellites by private companies.

Central Government Releases ₹1.78 Lakh Crore Tax Devolution to States

• The central government has announced the release of over ₹1.78 lakh crore in tax devolution to

state governments.

• This advance instalment aims to support states during the festive season and facilitate increased

capital spending for development and welfare initiatives.

o The largest share was allocated to Uttar Pradesh, receiving ₹31,962 crore.

o Other significant allocations include:

▪ Bihar: ₹17,921 crore

▪ Madhya Pradesh: ₹13,987 crore

▪ West Bengal: ₹13,404 crore

▪ Maharashtra: ₹11,255 crore

▪ Rajasthan: ₹10,737 crore

▪ Odisha: ₹8,068 crore

▪ Tamil Nadu: ₹7,268 crore

▪ Andhra Pradesh: ₹7,211 crore

▪ Karnataka: ₹6,498 crore

▪ Gujarat: ₹6,197 crore

o Goa, Sikkim, and Mizoram received the least, with allocations of ₹688 crore, ₹691 crore,

and ₹891 crore, respectively.

DigiLocker and UMANG Integration: Simplifying Access to Government Services

● DigiLocker, a secure cloud platform for storing and verifying documents, has integrated with the
UMANG app to provide streamlined access to various government services.
● This partnership significantly advances India’s digital governance, allowing users to manage multiple
services from a single platform.

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 Important Monthly Current Affairs Capsule – October 2024

● The integration enables citizens to access multiple government services seamlessly through the
DigiLocker app, making interactions with the government more efficient.
India's Ship Recycling Industry Set for Major Growth in 2025
● India’s ship recycling industry is projected to grow significantly, reaching 3.8-4.2 million GT (gross
tonnage) in 2025, up from an estimated 2.3-2.6 million GT in 2024, according to a CareEdge
report.
● India currently accounts for 33% of global ship recycling, second only to Bangladesh, which leads
with 46%.
● India’s ship recycling industry is expected to witness a growth spurt by 2025, with annual growth
rates of around 10% forecasted for 2026-2028.
● India remains a key player in the global ship recycling industry, accounting for 33% of global
dismantling activities in 2023, a rise from 27% in previous years.
● The top four countries in ship recycling—Bangladesh, India, Pakistan, and Turkey—together
handle 90% of global ship dismantling.
PM Modi Celebrates 3rd Anniversary of PM GatiShakti National Master Plan
● Prime Minister Narendra Modi has completed 3 years of the PM GatiShakti National Master Plan,
highlighting its transformative impact on India's infrastructure development.
● PM Modi emphasized that the GatiShakti initiative is accelerating India's progress towards a "Viksit
Bharat" (Developed India).
● The plan, announced on the 75th Independence Day in 2021, aims to enhance multimodal
connectivity by integrating infrastructure projects across various ministries and states, making
project execution faster and more efficient.
● The initiative has seen 44 central ministries and 36 states/UTs participate, leading to improved
coordination and integration in infrastructure planning.
● Since its inception, the Network Planning Group (NPG) has recommended 208 major infrastructure
projects worth ₹15.39 lakh crore for approval.
Australia's New Working Holiday Visa Program for Indian Youth:
● Australia has introduced a new First Work and Holiday visa (subclass 462) for Indian citizens,
enabling young Indians aged 18 to 30 to work and holiday in Australia for up to one year.

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 Important Monthly Current Affairs Capsule – October 2024

● This initiative, part of the Australia-India Economic Cooperation and Trade Agreement (AI-ECTA),
strengthens the economic and cultural ties between the two nations.
● Eligibility:
o Indian citizens aged 18 to 30 are eligible to apply.
o A total of 1,000 visas will be allocated annually to successful applicants.
Government to Crack Down on False Air Purifier Claims Amid Rising Pollution Concerns
● As air pollution worsens, especially in the NCR region, and more people purchase air purifiers,
Consumer Affairs Minister Pralhad Joshi raised concerns about misleading claims made by some
manufacturers.
● Bureau of Indian Standards (BIS) will increase market surveillance on air purifiers to ensure the
quality of these products.
● The BIS has already scaled up surveillance by 10 times in the last five years, from 15,000 to over
1.5 lakh checks annually, and aims to intensify inspections on air purifiers.
● Currently, BIS has a standard for portable electric air purifiers (IS17531 of 2021), but compliance is
not mandatory.
India's National Scheme for Power Distribution and Renewable Energy Expansion
● The Central Electricity Authority (CEA) is developing a national scheme for power distribution as part
of India’s push to meet rising electricity demand through renewable energy.
● Union Power Minister Manohar Lal announced this initiative, which aligns with India's broader goal of
establishing 600 GW of renewable energy capacity by 2032.
● According to the National Electricity Plan (2023-2032), India’s peak demand is expected to be 458
GW by 2032.
● The plan includes building a transmission network of 335 GW to handle 280 GW of variable
renewable energy by 2030.
46th Foundation Day Celebration of Telecommunications Consultants India Limited (TCIL)
● Telecommunications Consultants India Limited (TCIL) marked its 46th Foundation Day on 15th
October 2024 at the SCOPE Convention Center, New Delhi.
● The event was attended by esteemed dignitaries, former CMDs/Directors of TCIL, and employees,
celebrating the company’s achievements and growth.

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SECL Inaugurates 216th AMRIT Pharmacy in Bilaspur, Enhancing Affordable Healthcare Access
● South Eastern Coalfields Limited (SECL), a Chhattisgarh-based subsidiary of Coal India,
inaugurated the 216th AMRIT (Affordable Medicines and Reliable Implants for Treatment) Pharmacy
at the Health Centre in Indira Vihar Colony, Bilaspur.
● With this addition, SECL became India's first coal company to operate four AMRIT pharmacies.
● The AMRIT pharmacies are part of a flagship initiative by the Ministry of Health and Family Welfare,
launched in 2015.
● These pharmacies offer a wide range of generic and life-saving branded drugs, implants, and
surgical consumables at subsidized rates.
Cabinet Committee Approves Increase in Minimum Support Prices (MSP) for Rabi Crops for Marketing
Season 2025-26
● The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has
approved increasing Minimum Support Prices (MSP) for all mandated Rabi crops for the 2025-26
marketing season.
● This decision aims to ensure remunerative prices for farmers and promote crop diversification.
● Highest MSP Increase:
o Rapeseed & Mustard: ₹300 per quintal (highest increase).
o Lentil (Masur): ₹275 per quintal.
● Other Crops:
o Gram: ₹210 per quintal.
o Wheat: ₹150 per quintal.
o Safflower: ₹140 per quintal.
o Barley: ₹130 per quintal.
MSP and Production Cost for Rabi Crops (2025-26):
Crop MSP 2025-26 Cost of Margin MSP 2024-25 Absolute
(₹/quintal) Production Over Cost (₹/quintal) Increase (₹)
(₹/quintal) (%)
Wheat 2425 1182 105 2275 150
Barley 1980 1239 60 1850 130

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 Important Monthly Current Affairs Capsule – October 2024

Gram 5650 3527 60 5440 210

Lentil 6700 3537 89 6425 275
(Masur)
Rapeseed & 5950 3011 98 5650 300
Mustard
Safflower 5940 3960 50 5800 140
Union Cabinet Approves Multi-Tracking Railway Project Worth ₹2,642 Crore
● The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a significant multi-
tracking railway project with an estimated cost of ₹2,642 crore.
● This initiative, spearheaded by the Ministry of Railways, focuses on easing congestion and
enhancing infrastructure on one of the busiest railway sections, traversing through Varanasi and
Chandauli districts in Uttar Pradesh.
Development of the National Maritime Heritage Complex (NMHC) at Lothal, Gujarat
● The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the development of the
National Maritime Heritage Complex (NMHC) at Lothal, Gujarat.
● The project will be executed in two phases, aiming to showcase India's 4,500-year-old maritime
heritage.
● The project will be developed in two phases:
o Phase 1A and 1B: These phases will be executed in EPC (Engineering, Procurement, and
Construction) mode.
▪ Phase 1A is under implementation with 60% physical progress, planned to be
completed by 2025.
▪ Phase 1B will include the construction of the Light House Museum, funded by the
Directorate General of Lighthouses and Lightships (DGLL).
o Phase 2: This will be developed through land subleasing/PPP (Public-Private Partnership) to
establish NMHC as a world-class heritage museum.
Development of Border Area Roads in Rajasthan and Punjab Approved by Union Government
● The Union Cabinet, led by Prime Minister Narendra Modi, has sanctioned a significant infrastructure
project aimed at enhancing road connectivity in the border areas of Rajasthan and Punjab.

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 Important Monthly Current Affairs Capsule – October 2024

● The project underscores the government's focus on improving facilities in these strategically
important regions.
● The project involves the construction of 2,280 km of roads in the border areas of Rajasthan and
Punjab.
● Investment: The initiative is backed by a substantial investment of ₹4,406 crore.
Piyush Goyal Launches District Master Plan under PM GatiShakti for Infrastructure Planning
● Commerce and Industry Minister Piyush Goyal launched a district master plan under the PM
GatiShakti initiative to enhance infrastructure planning in 27 aspirational districts across India.
● This marks a significant step toward improving infrastructure efficiency through data-backed
decision-making.
● The initiative targets 27 districts initially, with plans to extend coverage to over 750 districts in the
next 18 months.
● The plan is part of the broader PM GatiShakti initiative, which focuses on efficient planning and
implementation of infrastructure projects.
● The National Master Plan Portal provides a platform for efficient infrastructure planning at the central
and state levels.
CBDT Issues Guidance Note for Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024
● The Central Board of Direct Taxes (CBDT) has issued a Guidance Note in the form of Frequently
Asked Questions (FAQs) to address queries from stakeholders regarding the Direct Tax Vivad Se
Vishwas (DTVSV) Scheme, 2024.
● This move aims to provide clarity and assist taxpayers in understanding the provisions of the
scheme.
Government Announces AI Centres of Excellence in Healthcare, Agriculture, and Sustainable Cities
● The Government of India has announced the establishment of three Centres of Excellence (CoE) in
Artificial Intelligence (AI), focusing on healthcare, agriculture, and sustainable cities.
● These CoEs aim to drive innovation and collaboration with industries and start-ups to address key
challenges in these sectors.
PM Suryaghar Yojana's Success in Rooftop Solar Installations and India's Solar Energy Growth

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● The PM Suryaghar Yojana, launched by Prime Minister Narendra Modi in February 2024, is making
significant strides in expanding rooftop solar power across India.
● Under this flagship programme, approximately 4 lakh rooftop solar installations have been
completed so far, according to the Minister of New and Renewable Energy, Pralhad Joshi.
● This initiative is a key part of India's ambitious target to install 10 million rooftop solar connections by
2027, with an allocated budget of ₹75,021 crore.
Union Cabinet Approves 3% Increase in Dearness Allowance and Dearness Relief for Central
Government Employees and Pensioners
● The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved an additional 3%
increase in Dearness Allowance (DA) for Central Government employees and Dearness Relief (DR)
for pensioners.
● This increase, effective from July 1, 2024, is aimed at offsetting the impact of rising prices.
● Increase in DA and DR:
o 3% hike, raising DA and DR from 50% to 53% of Basic Pay/Pension.
o This increase is based on the recommendations of the 7th Central Pay Commission.
● Effective Date:
o The new rate is applicable from July 1, 2024.
Union Cabinet Approves Continuation of PM-AASHA to Support Farmers and Stabilize Prices
● The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the continuation of
the Pradhan Mantri Annadata Aay SanraksHan Abhiyan (PM-AASHA) scheme.
● This initiative aims to provide remunerative prices to farmers and control the price volatility of
essential commodities for consumers.
● The total financial outgo will amount to ₹35,000 crore during the 15th Finance Commission Cycle
until 2025-26.
● Components of PM-AASHA:
o The integrated scheme now includes:
▪ Price Support Scheme (PSS)
▪ Price Stabilization Fund (PSF)
▪ Price Deficit Payment Scheme (PDPS)

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▪ Market Intervention Scheme (MIS)

Indian Railways Announces New 60-Day Advance Ticket Booking Policy
● Indian Railways has unveiled a significant update to its advanced train ticket reservation system,
allowing passengers to book tickets 60 days in advance starting from November 1, 2024.
● This change aims to provide greater flexibility and convenience for travellers planning their journeys.
● Passengers will now be able to book train tickets up to 60 days prior to the train's scheduled
departure, as opposed to the current 120-day booking window. This change is intended to enable
travellers to make reservations based on more immediate travel plans.
● The new policy will take effect on November 1, 2024. Passengers should keep this in mind while
planning their trips.
Supreme Court Upholds Constitutionality of Section 6A of the Citizenship Act, 1955
● A Constitution Bench of the Supreme Court, in a 4:1 majority judgment, has upheld the
constitutionality of Section 6A of the Citizenship Act, 1955, which allows immigrants from
Bangladesh residing in Assam to secure Indian citizenship.
● The ruling emphasized the importance of fraternity as a foundational value of the Constitution.
Noida Airport Ready for Runway Trials Following DGCA Calibration Certificate
● The Directorate General of Civil Aviation (DGCA) has issued a completion certificate for the landing
and takeoff calibration at Noida Airport, setting the stage for runway trials to commence shortly.
● A Beech King Air 360ER conducted the calibration from October 10 to 14, with assistance from the
Airports Authority of India (AAI) and DGCA.
● The calibration included the Instrument Landing System (ILS), which assists pilots during landings
and takeoffs, especially in low visibility and adverse weather conditions.
Delhi Development Authority's UER-II Project Nears Completion, Enhancing Regional Connectivity
● The Delhi Development Authority (DDA) is nearing completion of its Urban Extension Road (UER)-II
Project, set to fully operationalize by December this year, with a total cost of Rs 3,600 Crore funded
by DDA.
● The National Highway Authority of India (NHAI) is overseeing the implementation, with support from
the governments of Haryana, UP, and GNCTD.

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 Important Monthly Current Affairs Capsule – October 2024

● The project spans 75.71 kms, with 54.21 kms in Delhi and 21.50 kms in Haryana, serving as the
third Ring Road for Delhi, expanded into five packages.
Prime Minister Narendra Modi Chairs NDA Chief Ministers' Meeting: Focus on Good Governance and
National Development
● Prime Minister Narendra Modi chaired a high-level meeting in Chandigarh with Chief Ministers and
Deputy Chief Ministers from the National Democratic Alliance (NDA).
● The gathering was aimed at discussing national development and governance strategies.
● Agenda: Discussions included:
o Observance of 'Sanvidhan Ka Amrut Mahotsav' (celebrating the Constitution),
o The upcoming 50th anniversary of the "attempt to murder democracy."
Government Plans Social Security for Gig Workers: Focus on Unique Employment Status
● The Central Government, led by Labour Minister Mansukh Mandaviya, is working on a framework to
provide social security for gig and platform workers without placing them under the traditional
employer-employee model.
● Instead, the focus is on defining their unique relationship with platforms, recognizing their distinct
employment nature.
Government plans stricter import regulations for laptops, PCs, and tablets from January 1, 2025
● The government is evaluating ways to tighten the import authorisation and management system

for laptops, PCs and tablets to make imports more restricted through appropriate guidelines to be

implemented on January 1, 2025.

● The tightened import regime aims to encourage domestic manufacturing and address security
concerns, particularly related to China.

● The existing import regime for laptops and PCs, established in November, has minimally affected

imports due to its liberal nature.

● Imports now require authorization but are still perceived as too lenient.

● China's Share: China remains a major supplier, accounting for approximately 60% of imports,

which raises concerns amid ongoing scrutiny.

Government likely to reduce spectrum lease tenure to 10 years

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● The Department of Telecommunications (DoT) is evaluating a proposal to reduce the tenure of

spectrum leased to telecom operators from 20 years to 10 years.

● The decision is based on the shortening lifecycle of technology and the erosion of spectrum

value over longer periods, which prevents operators from realizing its full economic potential.

● If approved, the new lease tenure will be implemented in future auctions.

About Department of Telecommunications :

● Cabinet Minister : Jyotiraditya Scindia

● Minister of State : Devusinh Chauhan

Prime Minister Modi Inaugurates Three New Airports under UDAN Scheme: Promoting Regional
Connectivity
● Prime Minister Narendra Modi recently inaugurated three new airports in Rewa (Madhya Pradesh),
Ambikapur (Chhattisgarh), and Saharanpur (Uttar Pradesh) under the Regional Connectivity
Scheme (RCS) - UDAN.
● This move, part of the government's ongoing efforts to improve infrastructure and air connectivity
across India, especially in remote and underserved regions, was announced from Varanasi, Uttar
Pradesh.
● The RCS-UDAN initiative was launched under India's National Civil Aviation Policy (NCAP) 2016,
with a 10-year vision aimed at enhancing air travel accessibility across the nation.
● Since its first flight in April 2017, the scheme has facilitated travel for over 144 lakh passengers,
showcasing its success in achieving last-mile connectivity.
India's Solar Ambition Faces Challenges Due to Reliance on Imports
● According to the Global Trade Research Initiative (GTRI), India's ambitious target of installing 500
GW of renewable energy capacity by 2030 could lead to annual solar equipment imports of around
$30 billion, primarily due to a heavy reliance on Chinese goods.
● The think tank underscores the urgent need for India to develop a self-reliant solar manufacturing
ecosystem, particularly in critical sectors like polysilicon and wafer production.
● Without this, India’s renewable energy goals may face significant hurdles, especially with rising
import costs.

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 Important Monthly Current Affairs Capsule – October 2024

● China dominates the global solar manufacturing market, controlling 97% of polysilicon production
and 80% of solar modules.
● In 2023-24, India imported $7 billion worth of solar equipment, with 62.6% of it coming from China.
UDAN Scheme Achievements: Enhancing Regional Air Connectivity
● The Ministry of Civil Aviation announced significant progress under the UDAN (Ude Desh ka Aam
Nagrik) scheme, which aims to boost regional air connectivity and make air travel more accessible
and affordable.
● Operational Routes and Airports:
o 601 routes have been operationalised under the UDAN scheme, including helicopter routes.
o Approximately 28% of these routes cater to the most remote locations, enhancing
accessibility.
● Aerodromes Operationalised:
o A total of 86 aerodromes have been operationalised, comprising:
▪ 71 airports
▪ 13 heliports
▪ 2 water aerodromes
o These developments have facilitated air travel for over 1.44 crore passengers across more
than 2.8 lakh flights.
● Growth in Operational Airports:
o The number of operational airports in India has doubled from 74 in 2014 to 157 in 2024.
o The government aims to increase the count to 350-400 airports by 2047, further expanding
regional connectivity.
● Scheme Launch:
o The UDAN scheme was launched on October 21, 2016, marking a pivotal initiative to
enhance air travel across the country.
UDAN Scheme Extended for 10 More Years: A Boost to Regional Air Connectivity
● Civil Aviation Minister K. Rammohan Naidu announced the extension of the UDAN (Ude Desh ka
Aam Nagrik) scheme for another 10 years.

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 Important Monthly Current Affairs Capsule – October 2024

● Originally launched on October 21, 2016, the scheme aims to improve regional air connectivity and
make air travel affordable for common citizens.
Dr. Mansukh Mandaviya Launches ‘eShram – One Stop Solution’ for the Welfare of Unorganised
Workers
● Union Minister of Labour & Employment and Youth Affairs & Sports, Dr Mansukh Mandaviya,
introduced the “eShram – One Stop Solution” in New Delhi.
● This event was attended by Union Minister of State for Labour & Employment, Sushri Shobha
Karandlaje, and other senior officials from the Ministry.
● The initiative consolidates data from multiple Central Ministries/Departments into a single repository,
as per the recent Budget announcement and the Ministry’s 100-day agenda.
● Key welfare schemes like One Nation One Ration Card, Mahatma Gandhi National Rural
Employment Guarantee Act, and others have been integrated with eShram, with ongoing onboarding
of additional welfare programs.
India Pauses New Free Trade Agreements to Revamp Trade Strategy
● India has decided to pause all new Free Trade Agreements (FTAs) as part of an initiative to overhaul
its strategy for maximizing trade and investment benefits.
● This significant move highlights the necessity for updated guidelines that better align with India's
evolving economic landscape.
● New Guidelines for FTAs:
o The Department of Commerce is developing new Standard Operating Procedures (SOPs) for
FTA negotiations.
o The Prime Minister’s Office has discussed SOPs addressing emerging issues, including
labour, environment, digital trade, gender, and indigenous peoples.
2nd National Lighthouse Festival Observed Across Historic Lighthouses
● The 2nd National Lighthouse Festival was observed on October 19 and 20, 2024, across 75 historic
lighthouses in India.
● The Lighthouse Tourism Conclave 2024 was inaugurated by Union Minister of State for Ports,
Shipping & Waterways, Shantanu Thakur, on October 19, 2024.

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 Important Monthly Current Affairs Capsule – October 2024

o The National Lighthouse Festival is organized by the Union Ministry of Ports, Shipping &
Waterways.
● Objectives of the Festival:
o The main aims of the festival include:
▪ Transforming 75 historic lighthouses into tourist sites with modern amenities, such as
museums, amphitheatres, and children’s parks.
▪ Promoting the conservation and preservation of these historic maritime lighthouses.
▪ Generating local employment and boosting the local economy.
● Approximately Rs 65 crore has been invested in 75 iconic lighthouses across 9 coastal states and 1
Union Territory, according to the Directorate General of Lighthouses and Lightships.
Launch of International Incoming Spoofed Calls Prevention System
● Union Minister for Communications, Jyotiraditya Scindia, launched the International Incoming
Spoofed Calls Prevention System on October 22, 2024, at BSNL Bhawan, Delhi.
● The system is designed to detect and block spam international calls that appear to come from Indian
numbers, helping to combat scammers impersonating police, courier company employees, or others.
● Funding Allocation:
o The Finance Ministry allocated ₹38.76 crore to the Department of Telecommunications (DoT)
for the establishment of this system, initially referred to as the Centralised International Out
Roamer (CIOR).
o Additionally, funding for the Digital Intelligence Unit (DIU) was increased from ₹50 crore to
₹85 crore to enhance investigations into fraudulent telecom activities.
● Many of the flagged SIMs were reportedly sold in states like Telangana, Andhra Pradesh, Kerala,
Tamil Nadu, and Punjab, being used to scam individuals in India through various deceptive tactics.
Union Minister Dharmendra Pradhan’s Visit to Australia Strengthens Educational Collaboration
● Union Minister Dharmendra Pradhan’s visit to Australia emphasised the critical role of education in
advancing the India-Australia partnership.
● He highlighted the significance of India's National Education Policy (NEP), highlighting skills-based
education, digital literacy, and the potential for global collaborations.

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 Important Monthly Current Affairs Capsule – October 2024

● Pradhan's engagements with Australian officials and university leaders aimed to deepen ties,
explore joint initiatives, and ensure that the education systems of both nations align to prepare
future-ready global citizens.
TRAI Releases Consultation Paper on Terms and Conditions of Network Authorisations Under
Telecommunications Act, 2023
● The Telecom Regulatory Authority of India (TRAI) has issued a consultation paper on the ‘Terms
and Conditions of Network Authorisations’ to be granted under the Telecommunications Act, 2023.
● This paper is aimed at gathering input from stakeholders on the regulations governing the
establishment, operation, maintenance, and expansion of telecommunication networks in India.
Celebration of Sardar Vallabhbhai Patel's 150th Birth Anniversary
● The Indian government is set to commemorate the 150th birth anniversary of Sardar Vallabhbhai
Patel with a nationwide program spanning two years, from 2024 to 2026.
● Union Home Minister Amit Shah announced this initiative and aims to honour Patel's monumental
contributions to India, especially his pivotal role in establishing a strong democracy and unifying the
nation.
Prime Minister Narendra Modi Set to Launch Ayushman Bharat PM-JAY for Senior Citizens
● Prime Minister Narendra Modi is expected to launch the Ayushman Bharat Pradhan Mantri Jan
Arogya Yojana (AB-PM-JAY) specifically for senior citizens.
● This announcement follows the recent approval by the Union Cabinet, which is chaired by the Prime
Minister, for a significant expansion of the world’s largest public health insurance scheme.
● Cashless Coverage: The scheme offers a cashless hospitalization cover of up to ₹5 lakh per year for
all senior citizens aged 70 years and above, regardless of their socio-economic status.
● Funding: The central government will finance 60% of the scheme, while states have the flexibility to
expand or modify the coverage to include additional age groups.
Central Government Approves Key Railway Projects and Launches VC Fund for Space Sector
● The Union Cabinet has approved two major railway projects worth Rs 6,798 crore for the states of
Bihar and Andhra Pradesh.
● Additionally, a Rs 1,000 crore Venture Capital (VC) fund dedicated to the space sector has been
launched under IN-SPACe.

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 Important Monthly Current Affairs Capsule – October 2024

Union Labour Ministry to Convene Meeting on New Labour Codes in December

● The Union Labour Ministry is expected to organize a “Chintan Shivir” (brainstorming session) in early
December to discuss the rollout of the four new labour codes and address labour-welfare policies.
● The meeting will involve labour ministers from all states and Union Territories (UTs), with the aim of
gauging their preparedness and ensuring a uniform approach towards implementing the codes.
Objective of the Meeting
● The session will focus on bringing all states and UTs on board for the successful implementation
of the new labour reforms.
● The four labour codes, which have been part of the Centre’s long-pending reforms agenda, are
designed to simplify and consolidate existing labour laws.
Government Plans to Develop 50 New Airports in Five Years: Civil Aviation Minister
● The Civil Aviation Minister, K Rammohan Naidu, announced plans to establish 50 new airports
across India over the next five years to further enhance the country's airport ecosystem.
● This initiative is part of a broader effort to boost job creation and stimulate economic activities in the
aviation sector.
Revised CSR Guidelines for CPSEs Include Focus on PM’s Internship Scheme
● The Indian government has updated the Corporate Social Responsibility (CSR) guidelines for
Central Public Sector Enterprises (CPSEs) for the fiscal year 2024-25, emphasizing two main areas:
Health and Nutrition and the Prime Minister's Internship Scheme.
● This move is intended to streamline how CPSEs allocate their CSR funds, with a significant focus on
youth employability and skill development.
● The Prime Minister's Internship Scheme reflects the government's efforts to enhance youth skill
development and job readiness.
Vishwa Samudra Engineering Secures $40 Million Funding for Varanasi Ropeway Project
● Vishwa Samudra Engineering (VSE), a Hyderabad-based firm, has secured $40 million (over ₹322
crore) in funding from Switzerland's Xport Finance to construct, operate, and maintain an urban
ropeway in Varanasi, Prime Minister Narendra Modi's constituency.
● This funding will support the ambitious project to enhance urban mobility in the city.

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 Important Monthly Current Affairs Capsule – October 2024

● The National Highways and Logistics Management Limited (NHLML), a subsidiary of the National
Highways Authority of India (NHAI), has formed a 60:40 joint venture with VSE for the ropeway
project.
● NHLML will cover 60% of the estimated project cost of ₹807 crore, while VSE will manage the
remaining 40%.
● The project was initially set to be completed by August 2025, but Executive Director Shivdutt Das
mentioned that it might be finished ahead of schedule, with a new target of early next year.
IndiaAI and Meta Establish 'Srijan' Center for Generative AI at IIT Jodhpur
● IndiaAI and Meta have partnered to launch the Center for Generative AI, Srijan (सृजन) at IIT Jodhpur.
● Additionally, they have introduced the "YuvAi Initiative for Skilling and Capacity Building," in
collaboration with the All India Council for Technical Education (AICTE), to promote open-source AI
development in India.
● This collaboration aims to advance research, skill development, and fostering innovation in AI to
support India's vision of tech sovereignty.
● The partnership between Meta and IndiaAI reflects a commitment to nurturing open-source AI,
supporting the development of indigenous solutions, and advancing India's position as a global
leader in responsible AI technology.
● The Srijan Center and YuvAi Initiative will play a crucial role in equipping India's youth with the skills
needed to lead in the AI revolution, ultimately driving inclusive growth and contributing to the nation's
economic and technological advancement.
India May Miss $30 Trillion Economy Goal by 2047 Due to Female Workforce Shortfall
● India needs 400 million women in its workforce by 2047 to achieve a $30 trillion economy.
● A joint report by Magic Bus India Foundation and Bain & Company reveals that India needs to
integrate 145 million women into the workforce by 2047 to meet its goal of becoming a $30 trillion
economy.
● The country is projected to add only 110 million women, reaching 255 million female workers by
2047, leaving a gap of 145 million women.
● Current Female Labour Force Participation Rate (FLFPR) stands at 35-40%, but it must nearly
double to 70% by 2047 to meet the economic goal.

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 Important Monthly Current Affairs Capsule – October 2024

Launch of 21st Livestock Census and Pandemic Fund Project for Animal Health Security
1. 21st Livestock Census: Launched by Union Minister Rajiv Ranjan Singh, the census will be
conducted from October 2024 to February 2025 at a cost of Rs 200 crore, funded entirely by the
central government.
2. The census will capture data on 219 indigenous breeds across 16 species, including cattle, buffalo,
yak, sheep, goat, and poultry birds.
3. Over 1 lakh field officials, primarily veterinarians and para-veterinarians, will be involved, covering 30
crore households across all states and Union Territories.
4. Mobile technology will be used for data collection to improve accuracy and efficiency.
Launch of Gram Panchayat-Level Weather Forecasting Initiative
● The Indian government has launched a Weather Forecasting initiative at the Gram Panchayat level
in New Delhi, aimed at enhancing disaster preparedness and empowering rural communities,
particularly farmers.
● This initiative is a collaborative effort between the Ministry of Panchayati Raj, Ministry of Earth
Sciences, and the India Meteorological Department (IMD).
● The initiative aims to provide accurate weather updates to farmers and villagers, helping them plan
agricultural activities and prepare for weather-related risks.
● Forecasts will be delivered through platforms such as e-GramSwaraj, the Meri Panchayat app, and
Gram Manchitra.
Inauguration of India's First Private Sector-Led Military Aircraft Facility for C295 Production in Vadodara
● Tata Advanced Systems Limited (TASL) and Airbus inaugurated the Final Assembly Line (FAL)
complex for C295 military aircraft in Vadodara, Gujarat, marking India's first private sector-led
military aircraft manufacturing facility.
● The inauguration was led by Indian Prime Minister Narendra Modi and Spanish Prime Minister Pedro
Sánchez Pérez-Castejón, signifying a robust partnership between India and Spain in defence
manufacturing.
Rising Threat of "Digital Arrest" Frauds: Rs 120.3 Crore Lost in Q1 2023
● In the first quarter of 2024, Indian citizens lost Rs 120.30 crore to “digital arrest” frauds, according to
government data.

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 Important Monthly Current Affairs Capsule – October 2024

● Prime Minister Narendra Modi raised concerns about this issue, urging citizens to remain vigilant
against cybercriminals.
● The Ministry of Home Affairs (MHA) and the Indian Cybercrime Coordination Centre (I4C) revealed
that many scams originate from Myanmar, Laos, and Cambodia.
● A staggering 46% of reported frauds, amounting to Rs 1,776 crore in losses, originated from these
countries between January and April 2023.
Prime Minister Narendra Modi to Launch Multiple Health Sector Initiatives on Dhanvantari Jayanti
● On the occasion of Dhanvantari Jayanti and the 9th Ayurveda Day, Prime Minister Narendra Modi
will inaugurate and lay the foundation stone for various health sector projects worth approximately
Rs 12,850 crore at the All India Institute of Ayurveda (AIIA) in New Delhi.
● PM Modi will inaugurate Phase II of India’s first All India Institute of Ayurveda, featuring:
o A Panchakarma hospital
o An Ayurvedic pharmacy
o A sports medicine unit
o A central library
o An IT and start-ups incubation centre
o A 500-seat auditorium
● Three new medical colleges will be inaugurated in Mandsaur, Neemuch, and Seoni in Madhya
Pradesh.
India and Spain Strengthen Ties with Defence Collaboration and Cultural Initiatives
● The Airbus C295 transport aircraft project was highlighted as a symbol of India-Spain defence ties.
● The project involves 40 aircraft manufactured in India by Tata Advanced Systems Limited (TASL) in
Vadodara, Gujarat, while 16 planes are delivered from Spain.
● Leaders Modi and Sánchez encouraged similar joint defence projects in line with the ‘Make in India’
initiative.
● Another Spanish defence firm, Navantia, is vying with Germany’s ThyssenKrupp Marine Systems for
India’s P75I submarine project, which will involve six submarines with advanced propulsion systems.
Union Minister Piyush Goyal's Visit to Saudi Arabia – Strengthening India-Saudi Strategic Ties and
Promoting Investment

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 Important Monthly Current Affairs Capsule – October 2024

● Union Minister Piyush Goyal’s visit to Saudi Arabia (October 29-30, 2024) aims to enhance India-
Saudi Arabia strategic ties and foster trade, investment, and economic cooperation.
● He will also represent India at the 8th Future Investment Initiative (FII) in Riyadh, a platform for
global leaders, investors, and innovators.
FPO scheme to be extended by 4-5 years with financial aid
● The “Formation and Promotion of 10,000 FPOs” scheme, launched in 2020 with a budget of Rs
6,865 crore, may be extended by 4-5 years beyond FY25 to solidify outcomes for farmers' collectives.
● Current Status: 9,200 FPOs have been formed out of a target of 10,000 by March 2025.
● Objectives of the Scheme:
○ Income Enhancement: Aims to improve farmers’ income through aggregation of produce and
supply of inputs, thus reducing production costs.
Prime Minister Modi Launches Multiple Health Sector Projects on Dhanvantari Jayanti and Ayurveda
Day
● Prime Minister Narendra Modi marked Dhanvantari Jayanti and the 9th Ayurveda Day with the
launch and foundation of multiple health projects worth ₹12,850 crore at the All India Institute of
Ayurveda (AIIA), New Delhi.
● He highlighted the historic lighting of Lord Shri Ram’s temple in Ayodhya, celebrating his return after
a 500-year wait.
PM Internship Scheme Boosts Opportunities Across India’s Key Business Hubs
● Chennai and Bengaluru lead in offering internships under the PM Internship Scheme, with 7,875 and
5,179 internships respectively, followed by Gurugram (4,576), Hyderabad (4,472), and Mumbai
(4,288).
● Among states, Maharashtra has the highest internship offers, reflecting its robust economic and
industrial base.
● The top 10 districts, with over 39,200 internship offers, account for nearly one-third of the 127,000
internships currently available.
India’s Path to Establishing the Bharatiya Antriksh Station by 2035
● Union Minister Dr. Jitendra Singh announced that India will establish its own space station, the
Bharatiya Antriksh Station, by 2035.

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 Important Monthly Current Affairs Capsule – October 2024

● This ambitious project is set to bolster India’s presence in space technology and research on a
global scale.
● An MoU between ISRO and the Department of Biotechnology was signed in New Delhi, focusing on
merging biotechnology with space technology.
● This partnership introduces the ‘BioE3’ policy, targeting advancements in economy, environment,
and employment.
Prime Minister Narendra Modi set to launch projects worth Rs 280 crore at Ekta Nagar
● Prime Minister Shri Narendra Modi is set to inaugurate a series of infrastructure and development
projects in Ekta Nagar, aimed at boosting tourism, accessibility, and sustainability in the area
surrounding the Statue of Unity.
● Prime Minister Narendra Modi will begin his two-day visit to Gujarat on Wednesday to inaugurate
and lay the foundation stone of various infrastructural and development projects worth over Rs 280
crore in Ekta Nagar in Narmada district.
NMDC Ltd Celebrates Vigilance Awareness Week 2024: Promoting Integrity for Nation’s Prosperity
➢ NMDC Ltd, India’s leading iron ore producer, commenced Vigilance Awareness Week 2024 with a
pledge to uphold integrity, transparency, and ethical practices in alignment with the year’s theme:
“Culture of Integrity for Nation’s Prosperity.”
Key Highlights of Vigilance Awareness Week 2024 at NMDC
● Inauguration and Integrity Pledge
○ CMD (Addl. Charge) Shri Amitava Mukherjee administered the Integrity Pledge at NMDC
Headquarters in Hyderabad, joined by Director (Technical) Shri Vinay Kumar and Chief
Vigilance Officer Shri B. Vishwanath, along with senior management and employees.
○ The pledge was simultaneously taken at NMDC project locations across India, reinforcing
a company-wide culture of accountability at sites such as Panna, Donimalai, Bacheli,
Kirandul, Jagdalpur, and Nagarnar.
India Inaugurates First ‘Writer’s Village’ in Dehradun
➢ India’s first ‘Writer’s Village’ was inaugurated in Dehradun by former President Ram Nath Kovind,
alongside Uttarakhand Governor Lt Gen Gurmeet Singh (retd) and Chief Minister Pushkar Singh
Dhami.

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 Important Monthly Current Affairs Capsule – October 2024

➢ This unique initiative aims to foster creativity and provide a nurturing environment for writers across
the country, establishing Dehradun as a new cultural hub for literary talent.
About Uttarakhand
● Uttarakhand – Dehradun (Capital)
● Chief Minister – Pushkar Singh Dhami
● Governor – Gurmit Singh
● State Bird – Himalayan Monal
Release of ₹100 Commemorative Coin Honoring HH Shri Mataji Nirmala Devi Ji
➢ The Minister of Road Transport & Highways, Shri Nitin Gadkari, recently released a ₹100
commemorative coin in honor of HH Shri Mataji Nirmala Devi Ji to celebrate her Birth Centenary.
➢ The event took place at the National Museum, serving as a heartfelt tribute to her significant
contributions to spirituality, inner peace, and self-realization on a global scale.
Prime Minister Modi Launches Bharat Balvalli's Biography 'Bharatvakya'
● Prime Minister Narendra Modi recently met classical musician Bharat Balvalli to launch his biography
titled 'Bharatvakya.'
● The meeting took place and highlighted Balvalli’s deep passion for culture and spirituality.
About 'Bharatvakya'
● Author: The biography is written by Pravin Vitthal Tarde.
● Content: It aims to intertwine the themes of music, spirituality, and nation-building, reflecting
Balvalli's journey and contributions to these areas.

INTERNATIONAL NEWS
North Atlantic Treaty Organisation to Establish Northern Land Command in Eastern Finland
● The North Atlantic Treaty Organisation (NATO) will set up a new land command in eastern

Finland, near the Russian border, in 2025.

● This command will oversee land force operations in northern Europe during military conflicts.

● The decision comes after Finland joined NATO in 2023 in response to Russia’s invasion of

Ukraine in 2022.

● Finland is organizing NATO’s presence on its territory.

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 Important Monthly Current Affairs Capsule – October 2024

● Unit Designation: The new unit will be known as the Multi Corps Land Component Command and
will operate under NATO’s Norfolk Joint Force Command based in the United States.

About NATO :
● Formation : 4 April 1949

● Headquarters : Brussels, Belgium

● Secretary General : Jens Stoltenberg

● Membership : 32 States (https://www.nato.int/nato-welcome/)

India and Brazil aim to finalize the Global Biofuel Alliance charter by the end of the year(2024)
● India and Brazil aim to establish the Global Biofuel Alliance (GBA) headquarters and finalize its

charter by the end of the current year(2024).

● The delay in setting up the GBA was addressed during a meeting between India’s Petroleum

Minister Hardeep Singh Puri and his Brazilian counterpart in Brasilia last month.

● The GBA was launched on September 9, 2023, on the sidelines of the G20 Summit in New Delhi.

● Global Biofuel Market: The International Energy Agency (IEA) predicts that biofuels have the

potential to grow 3.5 to 5 times by 2050 due to net-zero targets, creating significant opportunities

for India.

● India's Biofuel Production: A record 171.2 billion litres of biofuels were procured globally in the

year 2022, with India contributing just 2.7 per cent or 4.6 billion litres.

● Despite this, India remains the third-largest producer of ethanol, after the United States (US) and

Brazil.

About Brazil :
● President : Lula da Silva

● Capital : Brasília

● Currency : Real

Prime Minister Narendra Modi Launches Rs 23,300 Crore Initiatives in Agriculture and Animal
Husbandry in Maharashtra
● Prime Minister Narendra Modi visited Washim, Maharashtra, to inaugurate a series of agriculture
and animal husbandry initiatives totalling Rs 23,300 crore.

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 Important Monthly Current Affairs Capsule – October 2024

● His visit included stops at important cultural landmarks and events benefiting millions of Indian
farmers and rural communities.
Key Initiatives Launched:
3. PM-KISAN Samman Nidhi (18th Instalment):
o Rs 20,000 crore disbursed to approximately 9.4 crore farmers across India.
o This brings the total disbursement under the scheme to around Rs 3.45 lakh crore.
4. NaMo Shetkari Mahasanman Nidhi Yojana:
o The 5th instalment of the scheme was launched, disbursing Rs 2,000 crore to
beneficiaries.
5. Agriculture Infrastructure Fund (AIF):
o Over 7,500 projects worth more than Rs 1,920 crore were inaugurated.
o These projects include custom hiring centres, warehouses, primary processing units, cold
storage, and post-harvest management facilities.
6. Farmer Producer Organizations (FPOs):
o The launch of 9,200 FPOs with a collective turnover of Rs 1,300 crore.
7. Unified Genomic Chip for Cattle & Sex-Sorted Semen Technology:
o Introduction of the GAUCHIP for indigenous cattle and MAHISHCHIP for buffaloes.
o The technology will enable the identification of high-quality bulls early and provide sex-
sorted semen at lower costs for farmers, reducing semen costs by around Rs 200 per
dose.
8. Solar Parks:
o Five solar parks with a total capacity of 19 MW were inaugurated under the Mukhyamantri
Saur Krushi Vahini Yojana 2.0.
Expansion of Pradhan Mantri Ujjwala Yojana (PMUY) Gets Approval from Petroleum Ministry
● The Ministry of Petroleum and Natural Gas has approved the fourth expansion of the Pradhan Mantri
Ujjwala Yojana (PMUY), addressing the increasing demand from economically disadvantaged
households.
● This expansion is crucial as over 2.6 million pending applications are yet to be covered under the
scheme.

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 Important Monthly Current Affairs Capsule – October 2024

● LPG Penetration Increase: Since the launch of PMUY in May 2016, LPG penetration has
significantly increased from 62% in 2016 to near saturation levels.
● Pending Applications: Despite this growth, more than 2.6 million applications are pending, primarily
from economically distressed backgrounds.
● Fourth Expansion: The government has approved this expansion to include more households still in
need of clean cooking fuel.
About PMUY:
● Launch: May 2016 with the aim of providing free LPG connections to families below the poverty
line (BPL).
● Objective: To promote clean energy adoption and reduce the dependence on traditional cooking
methods like wood and coal, improving health outcomes and reducing environmental degradation.
Prime Minister Narendra Modi's Address at the Kautilya Economic Conclave:
● The Prime Minister, Shri Narendra Modi addressed the Kautilya Economic Conclave in New
Delhi.
● Organized by The Institute of Economic Growth in partnership with the Ministry of Finance, the
Kautilya Economic Conclave will focus on themes such as financing the green transition, geo-
economic fragmentation and the implications for growth, and principles for policy action to
preserve resilience among others.
● Location: New Delhi
● Organizer: The Institute of Economic Growth in collaboration with the Ministry of Finance
● Themes: Financing the green transition, geo-economic fragmentation, and resilience principles.
External Affairs Minister Jaishankar to attend Shanghai Cooperation Organisation meeting in Pakistan,
marking first EAM visit since Sushma Swaraj 9 years ago
● External Affairs Minister (EAM) S. Jaishankar will lead India's delegation to the Shanghai

Cooperation Organisation’s (SCO) Council of Heads of Government (CHG) meeting in Islamabad,

Pakistan on October 15-16, 2024.

● It will be the first visit to Pakistan by an Indian EAM in 9 years; the last visit was by Sushma

Swaraj in 2015 for the Heart of Asia Ministerial Conference on Afghanistan that was held in

Islamabad on December 8-9, 2015.

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 Important Monthly Current Affairs Capsule – October 2024

About SCO :
● Formed: 15 June 2001.

● Headquarters: Beijing, China.

● Secretary General: Zhang Ming.

● Member States: Belarus, China, India, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan,

Uzbekistan.

● India and Pakistan became full members of the SCO during the 2017 Astana Summit.

● India joined the SCO as an observer in 2005 and became a full member in 2017.

Indonesia holds global conference on Myanmar with UN and junta opponents, sources report

● Indonesia is hosting an international meeting with the United Nations and opponents of

Myanmar's military regime.

● Participants include the United Nations (UN), the Association of Southeast Asian Nations

(ASEAN), the European Union (EU), and Myanmar's shadow National Unity Government (NUG).

● The meeting is set against the backdrop of a severe crisis in Myanmar, stemming from the

military's crackdown on pro-democracy protests following the coup in 2021.

● The military is facing a nationwide rebellion supported by various ethnic minority armies.

● Aim of the Meeting:The meeting aims to address the ongoing civil war in Myanmar, which has not
seen significant progress despite regional efforts for peace.

About Indonesia :
● President : Joko Widodo

● Capital : Jakarta

● Currency : Indonesian rupiah (Rp) (IDR)

India elected to GlobE Steering Committee to tackle global corruption

● India has been elected to the 15-member steering committee of the GlobE Network during a

plenary session in Beijing.

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 Important Monthly Current Affairs Capsule – October 2024

● The election followed a multi-stage voting process, allowing India to actively contribute to global
efforts in combating corruption and asset recovery.

About GlobE Network:

● The Global Operational Network of Anti-Corruption Law Enforcement Authorities (GlobE Network)

was launched under the G20 framework to address international corruption and financial crimes.

● Officially launched on June 3, 2021, during the UN General Assembly Special Session against

Corruption.

● The network currently has 121 member countries and 219 member authorities, with India being a

member.

● India’s Participation in the Network:India's Central Bureau of Investigation (CBI) and Enforcement
Directorate (ED) are part of the GlobE Network.

● The Ministry of Home Affairs (MHA) acts as India's central authority for the network.

● Support and Governance:The GlobE Network is governed by its member countries and is

supported by the United Nations Office against Drugs and Crime (UNODC), which provides

secretariat support.

India extends $50 million financial aid to Maldives for an additional year

● India has extended budgetary support to the Maldives government in the form of a rollover of the
USD 50 million Treasury Bill for another year at the Maldivian government’s request.

● This is the second rollover granted by the Indian government this year.

● Earlier in May 2024, SBI had similarly subscribed a USD 50 mn T-bills under the same
mechanism, again on the request of the Government of Maldives.

● Maldives is India’s key maritime neighbour and an important partner under India’s

‘Neighbourhood First’ policy and Vision SAGAR i.e. Security and Growth for All in the Region.

About Maldives :
● President : Mohamed Muizzu

● Capital : Malé

● Currency : Maldivian rufiyaa

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 Important Monthly Current Affairs Capsule – October 2024

Mr.Joseph R.Biden Hosts Sixth Quad Leaders’ Summit with Prime Ministers of Australia, Japan, and
India in Wilmington
• President Joseph R. Biden, Jr. hosted Prime Minister Anthony Albanese of Australia, Prime

Minister Kishida Fumio of Japan, and Prime Minister Narendra Modi of India in Wilmington,

Delaware, for the 6th Quad or Quadrilateral Security Dialogue Leaders’ Summit.

• The grouping of four democracies –India, Australia, US and Japan is known as the quadrilateral

security dialogue or quad.

• The aim of this grouping is to ensure a free and open international order based on the rule of law

in the Indo-Pacific.

Myanmar to Participate in Association of Southeast Asian Nations Summit for the First Time in Three
Years
• Myanmar will send a representative to the Association of Southeast Asian Nations (ASEAN)

summit for the first time in three years.

• The decision to participate comes as the junta struggles to address an ongoing civil war and

amid diplomatic isolation since the February 2021 coup.

• Agenda Focus:The civil conflict in Myanmar is expected to be a significant topic during the

summit, which is being held in Vientiane, Laos from October 9, 2024.

About ASEAN :

• Headquarters : Jakarta, Indonesia

• Secretary General : Dr. Kao Kim Hourn

• Membership : 10 member states (Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia,

Myanmar, Philippines, Singapore, Thailand, Vietnam) & 2 Observer States (East Timor, Papua

New Guinea)

About Myanmar :

• President : Min Aung Hlaing

• Capital : Naypyidaw

• Currency : Kyat

12th India-UAE High-Level Joint Task Force on Investments Held in Mumbai

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 Important Monthly Current Affairs Capsule – October 2024

• The 12th Meeting of the India-United Arab Emirates (UAE) High-Level Joint Task Force on
Investments (HLJTFI) took place in Mumbai, Maharashtra.

• Co-Chaired by:

• Shri Piyush Goyal, Minister of Commerce & Industry, Government of India.

• His Highness Sheikh Hamed bin Zayed Al Nahyan, Managing Director of Abu Dhabi Investment

Authority (ADIA).

President Droupadi Murmu Begins Three-Nation Visit of Algeria, Mauritania, and Malawi
● President Droupadi Murmu's visit to Algeria, Mauritania, and Malawi was the first Indian

President to visit these three African nations.

● This visit comes a year after the African Union became a permanent member of the G-20 group
during India's presidency of the G-20 in 2023.

● Algeria (October 13-15, 2024): Bilateral meetings, ceremonial welcome by President Abdelmadjid

Tebboune, and participation in the Algeria-India Economic Forum.

● Mauritania (October 16, 2024): Bilateral talks with President Mohamed Ould Cheikh El

Ghazouani and signing of four MoUs.

● Malawi (October 17-19, 2024): Bilateral talks with President Lazarus Chakwera, business events,

and signing of three MoUs.

About Algeria :
● President : Abdelmadjid Tebboune

● Prime Minister : Nadir Larbaoui

● Capital : Algiers

● Currency : Algerian dinar

About Mauritania :
● President : Mohamed Ould Ghazouani

● Prime Minister : Mokhtar Ould Djay

● President of the National Assembly : Mohamed Ould Meguett

● Capital : Nouakchott

● Currency : Ouguiya

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 Important Monthly Current Affairs Capsule – October 2024

About Malawi :
● President : Lazarus Chakwera

● Capital : Lilongwe

● Currency : Malawian kwacha

Nicaragua Declares Suspension of Diplomatic Ties with Israel

● Nicaragua's government, led by Vice President Rosario Murillo, has officially declared the

suspension of diplomatic relations with Israel following a congressional resolution.

● The announcement occurs amidst increasing international scrutiny of Israel due to its military

actions in the West Asia region, particularly in Gaza and Lebanon.

About Israel :
● President : Isaac Herzog

● Prime Minister : Benjamin Netanyahu

● Capital : Jerusalem

● Currency : New shekel

World Health Organisation declares India free from Trachoma as a public health problem in 2024
● The World Health Organization (WHO) declared India free from Trachoma as a public health

problem in 2024.

● India is the third country in the South-East Asia Region to achieve this milestone.

What is Trachoma?:
● Trachoma is a bacterial infection caused by Chlamydia trachomatis that affects the eyes.

● It is classified as a neglected tropical disease by the WHO.

About WHO :
● Established : 7 April 1948

● Headquarters : Geneva, Switzerland

● Director General : Tedros Adhanom Ghebreyesus

● Parent Organization : United Nations Economic and Social Council

Prime Minister Shri Narendra Modi Calls for Peace, Stability, and an Inclusive Indo-Pacific at 19th East
Asia Summit

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 Important Monthly Current Affairs Capsule – October 2024

● Prime Minister Shri Narendra Modi attended the 19th East Asia Summit (EAS) on 11 October
2024 in Vientiane, Lao PDR.

● In his address, PM Modi emphasized ASEAN's central role in the Indo-Pacific regional

architecture, India's Indo-Pacific Vision, and Quad cooperation.

About East Asia Summit :

● The East Asia Summit (EAS) is a forum for leaders of countries in the Indo-Pacific region to

discuss political, security, and economic challenges.

● The EAS was established in 2005 by the Association of Southeast Asian Nations (ASEAN) and is

held annually.

● The EAS was launched in Kuala Lumpur, Malaysia in 2005.

● The EAS was originally attended by 16 countries from East Asia, Southeast Asia, South Asia,

and Oceania.

● In 2011, membership expanded to 18 countries, including Russia and the United States.

● Currently, EAS is a forum of 18 countries that represent 54% of the world's population and 58%

of global GDP.

● The 18 countries are:

● Ten ASEAN member states: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the

Philippines, Singapore, Thailand, and Vietnam.

● Other members: Australia, China, Japan, India, New Zealand, the Republic of Korea, Russia, and

the United States.

● Leaders-Led Forum: The East Asia Summit (EAS) is the only leaders-led forum that brings

together major global powers including the US, China, Russia, India, Republic of Korea (RoK),

and Australia.

EAS Membership Criteria:

● Sign the ASEAN Treaty of Amity and Cooperation (TAC).

● Be a formal dialogue partner of ASEAN.

● Have substantive cooperative relations with ASEAN.

21st ASEAN-India Summit:

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 Important Monthly Current Affairs Capsule – October 2024

● Held on 10 October 2024 in Vientiane, Lao PDR.

● Marked a decade of India’s Act East Policy.

● Prime Minister Modi participated for the 11th time.

● Focused on assessing the ASEAN-India Comprehensive Strategic Partnership and shaping

future cooperation.

India raises concerns over terrorism at SCO meeting hosted in Pakistan

● External Affairs Minister S. Jaishankar called for an “honest conversation” about the lack of trust

and neighbourly ties within the Shanghai Cooperation Organisation (SCO), implicitly criticizing

China and Pakistan regarding issues of territorial integrity and terrorism.

● Jaishankar's visit marked the first time an Indian foreign minister visited Pakistan in nearly a
decade, highlighting a significant diplomatic engagement.

● Pakistan will host the 2024 SCO Summit in Islamabad on October 15-16, 2024.

About SCO :
● Established : 15 June 2001

● Headquarters : Beijing, China

● Secretary General : Zhang Ming

● The SCO was established by founding members China, Russia, Kazakhstan, Kyrgyzstan,

Tajikistan, and Uzbekistan, with India and Pakistan joining in 2017.

● Iran is expected to become a member soon.

● Objective : To enhance cooperation among its member states in various domains, including

politics, economy, and military initiatives, with a strong focus on combating separatism, terrorism,

and extremism.

Sri Lanka Plans to Seek Membership in BRICS and the New Development Bank, Says New Foreign
Minister Vijitha Herath

● Sri Lanka’s newly-appointed Foreign Minister Vijitha Herath announced Sri Lanka's intention to

apply for membership in BRICS (Brazil-Russia-India-China-South Africa) and the New

Development Bank.

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 Important Monthly Current Affairs Capsule – October 2024

● Objective of BRICS Membership: Herath emphasized that Sri Lanka views BRICS as an effective
partnership to enhance cooperation, peace, and development through inclusive multilateralism in

line with the UN Charter.

● Current BRICS Membership: BRICS currently includes Brazil, Russia, India, China, and South

Africa, along with new members: Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, and the United

Arab Emirates.

● Russian Presidency: Russia holds the BRICS presidency in 2024, having taken over on January

1, 2024.

About Sri Lanka :

● President : Anura Kumara Dissanayake
● Prime Minister : Harini Amarasuriya

● Capital : Sri Jayawardenepura Kotte (legislative), Colombo (executive and judicial)

● Currency : Sri Lankan rupee (Rs)

Saudi Arabia launches digital platform to ensure wage protection, human rights of expat workers

● The new labour rules in Saudi Arabia — under a digital platform called Musaned — will benefit at
least 10 African countries and 9 Asian countries including India, Bangladesh, Pakistan, Vietnam,
Philippines and Sri Lanka.
Key Features
● Employment Contract Review: Workers can easily access and review their employment contracts.
● Financial Transaction Tracking: It allows workers to track financial transactions between
themselves and their employers.
● Linking to Insurance and Benefits: The platform can be linked to contract insurance and health
benefits to provide additional protection.
About Saudi Arabia:
● Capital: Riyadh
● King: Salman bin Abdulaziz Al Saud
● Crown Prince: Mohammed bin Salman
● Official Language: Arabic

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 Important Monthly Current Affairs Capsule – October 2024

● Currency: Saudi Riyal (SAR)

Azores Establish Largest Marine Protected Area in the North Atlantic

● The regional assembly of Portugal's Azores Islands approved the establishment of the largest

protected marine area in the North Atlantic.

● This initiative aims to meet international conservation goals ahead of schedule, particularly the

United Nations goal of protecting 30% of the Earth’s land and sea by 2030 as part of a global

pact adopted in the previous year.

● The newly approved marine network will cover nearly 300,000 square kilometres (115,830

square miles), making it a significant contribution to ocean conservation efforts.

UN General Assembly Elects 18 New Members to Human Rights Council for 2025-2027 Term
● The United Nations General Assembly (UNGA) elected 18 members to the 47-member Human

Rights Council for the 2025-2027 term.

● The countries elected to the Council are Benin, Bolivia, Colombia, Cyprus, Czechia, Democratic

Republic of the Congo, Ethiopia, Gambia, Iceland, Kenya, Marshall Islands, Mexico, North

Macedonia, Qatar, Republic of Korea, Spain, Switzerland, and Thailand.

● The newly elected members will serve three-year terms starting from January 1, 2025.

● The Human Rights Council consists of 47 members and is based in Geneva. It is responsible for

promoting and protecting human rights globally.

● The distribution of seats is in accordance with equitable geographical representation (13 from the

Group of African States; 13 from the Group of Asia-Pacific States; 6 from the Group of Eastern

European States; 8 from the Group of Latin American and Caribbean States; and 7 from the

Group of Western European and Other States)

About UNGA :
● Formation : 1945

● Headquarters : New York City, U.S

● President : Philemon Yang

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 Important Monthly Current Affairs Capsule – October 2024

Zydus Lifesciences Receives World Health Organisation Prequalification for Typhoid Vi Conjugate
Vaccine
● Indian pharmaceutical company Zydus Lifesciences Limited announced that its typhoid vaccine,

ZyVac TCV, has received World Health Organization (WHO) prequalification, making it eligible

for United Nations procurement programs.

● The prequalification allows Zydus to participate in UN procurement programs, which acquire

around 150 million doses of typhoid conjugate vaccines annually.

● South Asia Impact: India accounts for 75% of typhoid cases and mortality in South Asia, a region

heavily affected by the disease.

About WHO :
● Formation : 7 April 1948

● Headquarters : Geneva, Switzerland

● Director General : Tedros Adhanom Ghebreyesus

World Health Organization Secures $1 Billion for 2025-28, Including $700 Million in New Funding

● The World Health Organization (WHO) has secured $1 billion in pledges for its budget covering

2025-28.

● Nearly $700 million of this total consists of new funding commitments from various European
countries, foundations, and organizations.

● Meanwhile, $300 million was made up from reaffirmed funding commitments.

● The funding was announced during the WHO Investment Round Signature Event at the World
Health Summit in Berlin, co-hosted by Germany, France, and Norway.

● Germany pledged nearly $400 million over four years, with $260 million in new voluntary funding.

● The Wellcome Foundation (UK) pledged $50 million.

● Other contributors included:Institute for Philanthropy, Resolve to Save Lives, and World Diabetes

Foundation, each committing $10 million.

Russian envoy to India Denis Alipov Praises Meeting Between Indian Prime Minister Narendra Modi
and Chinese President Xi Jinping

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 Important Monthly Current Affairs Capsule – October 2024

● Prime Minister Shri Narendra Modi and Chinese President Xi Jinping met on the sidelines of the

BRICS Summit in Kazan, Russia.

● The meeting was described as a positive development in India-China bilateral relations by

Russian envoy Denis Alipov.

● Modi and Xi endorsed the agreement on patrolling and disengagement along the Line of Actual

Control (LAC) in eastern Ladakh.

Prime Minister Shri Narendra Modi Presents Jharkhand Artwork to President Putin at BRICS Summit
● Putin during the BRICS summit held in Kazan.

Sohrai Painting:
● Origin: Hazaribagh district, Jharkhand.

● Significance: Represents indigenous artistic traditions and is recognized as an ODOP (One

District One Product) item.

● Characteristics: Utilizes natural pigments and simple tools; intricate designs created using

brushes made from twigs, rice straw, or fingers.

● Themes: Depicts animals, birds, and nature, reflecting the agrarian lifestyle and reverence for

wildlife in tribal culture.

Additional Gifts from PM Modi:

● To Iran: A Mother of Pearl SeaShell Vase, showcasing coastal craftsmanship.

● To Uzbekistan: A Warli Painting from Maharashtra.

Warli Painting:
● Origin: Tribal art form from the Warli tribe in Maharashtra, primarily in Dahanu, Talasari, and

Palghar regions.

● Historical Significance: One of the oldest art forms in India, dating back to around 3000 BCE.

Commonwealth Nations Endorse Historic First Ocean Declaration

● Commonwealth countries have adopted the Apia Commonwealth Ocean Declaration for One

Resilient Common Future, urging all 56 nations to take action in protecting and restoring ocean

health.

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 Important Monthly Current Affairs Capsule – October 2024

● The declaration was agreed upon during the Commonwealth Heads of Government Meeting
(CHOGM) held in Samoa.

● Goals of the Declaration: The declaration outlines goals for:

● Recognizing maritime boundaries amidst rising sea levels.

● Protecting 30% of the oceans by 2030.

● Restoring degraded marine ecosystems by 2030.

● Urgently finalizing a Global Plastics Treaty to combat ocean pollution.

STATE NEWS
Telangana Government Introduces 'Telangana Darshini' Educational Tour Program for Students
● The Telangana government has set in motion ‘Telangana Darshini’, a scheme aimed at providing

students with an immersive learning experience outside the classroom.

● The programme, under the Youth Advancement, Tourism, and Culture (T&PMU) Department, is

designed to take school and college students on educational tours across the State.

● The initiative caters to school and college students, from Class 2 to graduation level, ensuring the

activities are suitable for different age groups.

● A committee of nodal officers from relevant departments will develop detailed tour plans, with the

Telangana Tourism Development Corporation (TSTDC) coordinating logistics.

About Telangana :
● Governor : Jishnu Dev Varma

● Chief Minister : Anumula Revanth Reddy

● Capital : Hyderabad

Rajasthan CM Bhajan Lal Sharma engages with potential investors in Delhi to advocate for special
investment incentives in the state
● Rajasthan Chief Minister Bhajan Lal Sharma met with prospective investors in Delhi to promote a

special incentive package for investments in Rajasthan.

● The Chief Minister addressed a conclave of the Central Public Sector Enterprises (CPSE) and a

meeting of the Confederation of Indian Industry (CII) in New Delhi.

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 Important Monthly Current Affairs Capsule – October 2024

● The meetings were held ahead of the ‘Rising Rajasthan’ Global Investment Summit-2024,
scheduled for December 9 to 11 in Jaipur, Rajasthan.

About Rajasthan :
● Governor: Haribhau Kisanrao Bagde

● Chief Minister : Bhajan Lal Sharma

● Capital: Jaipur

● National Park: Keoladeo National Park, Ranthambore National Park

● Wildlife Sanctuary: Bassi Wildlife Sanctuary, Kumbhalgarh Wildlife Sanctuary

Kerala Chief Minister Pinarayi Vijayan launches India’s first supercapacitor manufacturing unit at Keltron
in Kannur

● Kerala Chief Minister Pinarayi Vijayan inaugurated India’s first supercapacitor manufacturing

facility at Keltron Component Complex Limited (KCCL) in Kallyassery, Kannur, on October 1,

2024.

● Keltron has been highlighted as a model public sector undertaking (PSU) in the electronics and

IT sector since 1974.

● A ₹395 crore master plan for Keltron's modernization is in place, with several projects nearing

completion.

About Kerala:
● Capital: Thiruvananthapuram

● Chief Minister: Pinarayi Vijayan

● Governor: Arif Mohammad Khan

● National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park,

Silent Valley National Park, Indira Gandhi National Park

Jaipur, Rajasthan Becomes a Hub for Meeting Incentive Conference and Exhibition Tourism
● Jaipur is experiencing a significant rise in Meetings, Incentives, Conferences, and Exhibitions

(MICE) tourism, largely attributed to prominent events such as the Jaipur Literature Festival (JLF)

and the Jaipur Jewellery Show.

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 Important Monthly Current Affairs Capsule – October 2024

● Rajasthan tourism, especially in Pink City, will now get a further boost by becoming the host of
the IIFA25.

● The upcoming International Indian Film Academy (IIFA) Awards in Jaipur (IIFA25) is expected to

further boost tourism in Rajasthan, as it will attract numerous visitors, including Bollywood stars

and film personalities.

About Rajasthan :
● Governor : Haribhau Bagade

● Chief Minister : Bhajan Lal Sharma

● Capital : Jaipur

● National Park : Keoladeo National Park, Ranthambore National Park

● Wildlife Sanctuary : Bassi Wildlife Sanctuary, Kumbhalgarh Wildlife Sanctuary

Telangana Becomes the First State to Launch NITI Aayog's Women Entrepreneurship Platform Chapter
● Telangana is the first state in India to establish a chapter of NITI Aayog’s Women

Entrepreneurship Platform (WEP).

● The WEP is aimed at fostering entrepreneurship among women by providing customized support.

About Telangana:
● Governor: Jishnu Dev Varma

● Chief minister:Revanth Reddy

● Capital: Hyderabad

Fire erupts at Tata Electronics plant in Hosur

● A significant fire broke out at the Tata Electronics Limited (TEL) facility in Hosur, Tamil Nadu.

● The fire caused substantial disruption to the facility's operations, which are vital for assembling

components for Apple’s iPhone.

● Fire-fighting teams were deployed to control the blaze, but the extent of damage and specific

production units affected remain unclear.

● The Tata Electronics unit in Hosur is a critical supplier for Apple, specializing in precision

components for iPhones.

Assam Chief Minister Himanta Biswa Sarma sets target to eliminate child marriage by 2026

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 Important Monthly Current Affairs Capsule – October 2024

• Assam Chief Minister (CM) Himanta Biswa Sarma announced the government's target to
eradicate child marriage in Assam by 2026.

• The announcement coincided with the disbursement of the first instalment under the Mukha

Mantri Nijut Moina scheme, which provides monthly financial assistance to girls pursuing higher

education.

• Financial Outlay: The scheme has a projected outlay of ₹1,500 crore and aims to benefit 10 lakh

girl students.

About Assam :
• Governor : Shri Lakshman Prasad Acharya

• Chief Minister : Himanta Biswa Sarma

• Capital: Guwahati

• National Park: Kaziranga National Park, Manas National Park, Nameri National Park

• Wildlife Sanctuary: Garampani Wildlife Sanctuary, Laokhowa Wildlife Sanctuary, Bornadi Wildlife

Sanctuary

Bihar Chief Minister Nitish Kumar Unveils Logo and Mascot for Women's Asian Champions Trophy
2024 in Rajgir
• Bihar Chief Minister Nitish Kumar unveiled the logo and mascot for the Women's Asian

Champions Trophy-2024, which will be held in Rajgir from November 11-20.

• The mascot, named 'Gudiya', is inspired by the state bird of Bihar, Sparrow.

• The Women's Asian Champions Trophy-2024 is a joint venture of Hockey India and the Bihar

government and will be held at the newly developed Rajgir Hockey Stadium.

• The state cabinet recently sanctioned Rs 10 crore to Hockey India for the purpose.

• Six countries, including India, China, Thailand, Malaysia, South Korea and Japan, are

participating in the championship.

About Bihar :

• Governor : Rajendra Arlekar

• Chief Minister : Nitish Kumar

• Capital : Patna

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 Important Monthly Current Affairs Capsule – October 2024

• Wildlife Sanctuaries : Kaimur Wildlife Sanctuary, Kanwar Lake Bird Sanctuary, Nagi Dam Bird
Sanctuary

Nagaland Collaborates with Wales for 25th Hornbill Festival

• Nagaland government has signed Wales as one of the Country Partners for the upcoming 25th

Edition of the Hornbill Festival.

• Chief Minister Neiphiu Rio, who is on an official visit to Wales, announced the signing of the

agreement with the Welsh Government, the British Council, and Wales Arts International

representatives in Cardiff.

About Nagaland :
• Governor : La. Ganesan

• Chief Minister : Neiphiu Rio

• Capital : Kohima

• National Park : Ntangki National Park

• Wildlife Sanctuaries : Fakim Wildlife Sanctuary, Puliebadze Wildlife Sanctuary, Singphan Wildlife

Sanctuary

• Festival : Aoleng Festival

Madhya Pradesh and Uttar Pradesh collaborate to develop 8 GW solar power projects
• Madhya Pradesh (MP) and Uttar Pradesh (UP) governments have partnered to develop 8

gigawatts (GW) of solar power plants.

• First-of-its-kind Partnership: This renewable energy initiative marks a unique collaboration

between two Indian states for solar power development.

• Power Sharing Agreement: The solar power generated will be shared between MP and UP,

alternating every six months based on peak demand seasons:

• Madhya Pradesh: Peak demand from October to March (aligned with the rabi crop season).

About MP :
• Governor : Mangubhai C. Patel

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 Important Monthly Current Affairs Capsule – October 2024

• Chief Minister : Mohan Yadav

• Capital : Bhopal

• National Park : Bandhavgarh National Park, Kanha National Park, Pench National Park

• Festival : Lokrang Festival, Khajuraho Festival, Bhagoria Haat Festival

About Uttar Pradesh :

• Governor : Anandiben Patel

• Chief Minister : Yogi Adityanath

• Capital : Lucknow
• National Park : Dudhwa National Park

• Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National

Chambal Wildlife Sanctuary

Bihar Government to Establish Kaimur Wildlife Sanctuary as the State's Second Tiger Reserve
• The Bihar government will establish the Kaimur Wildlife Sanctuary (KWLS) as the state’s second

tiger reserve.

• Valmiki Tiger Reserve (VTR), which is the state's first national park, has reached its capacity, and

now the state government is finalising modalities for translocating the big cats to KWLS.

• The Kaimur Wildlife Sanctuary is spread over an area of 1,504.96 sq km.

About Bihar :

• Governor : Rajendra Arlekar

• Chief Minister : Nitish Kumar

• Capital : Patna

• Wildlife Sanctuaries : Kaimur Wildlife Sanctuary, Kanwar Lake Bird Sanctuary, Nagi Dam Bird

Sanctuary

Ratapani Wildlife Sanctuary near Bhopal set to become Madhya Pradesh's eighth tiger reserve, the first
in India near a capital city
• Ratapani Wildlife Sanctuary, located near Bhopal, Madhya Pradesh (MP), will soon be declared

the state's 8th tiger reserve.

• This will be the first tiger reserve in India located near a capital city.

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 Important Monthly Current Affairs Capsule – October 2024

• Location and Area:

• Distance: 60 km from Bhopal.

• Total area: 1,270 sq km (763 sq km core area, 507 sq km buffer area).

• Will include both Ratapani Wildlife Sanctuary and Singhori Sanctuary.

About MP :

• Governor: Mangubhai C. Patel

• Chief Minister: Mohan Yadav

• Capital: Bhopal
• National Park: Satpura National Park, Kanha National Park, Bandhavgarh National Park

• Wildlife Sanctuary: Nauradehi Wildlife Sanctuary, Bori Wildlife Sanctuary

Maharashtra Cabinet passes resolution recommending Bharat Ratna for Ratan Tata
• The Maharashtra Cabinet, led by Chief Minister Eknath Shinde, passed a resolution urging the

Central Government to confer the Bharat Ratna, India’s highest civilian award, to Ratan Tata.

• Reason for the Resolution:

• The resolution is in recognition of Ratan Tata's significant achievements as a veteran industrialist

and philanthropist.

• Ratan Tata passed away in Mumbai on October 9, 2024.

About Maharashtra

• Governor: C. P. Radhakrishnan

• Chief Minister: Eknath Shinde

• Capital: Mumbai

• National Park: Tadoba National Park, Navegaon National Park

• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife

Sanctuary

• UNESCO Heritage Sites: Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco

Ensemble of Mumbai, Ajanta Caves, Elephanta Caves, Ellora Caves

Odisha introduces Gramodaya scheme for welfare initiatives in villages affected by Left-Wing

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 Important Monthly Current Affairs Capsule – October 2024

Extremism

● The Odisha government has launched Gramodaya, a new scheme to ensure that welfare

programmes reach people living in the Left Wing Extremism (LWE)-affected districts.

● The scheme will encompass 583 villages across 10 LWE-affected districts in Odisha.

● The initiative will be implemented in the districts of Bargarh, Balangir, Boudh, Kalahandi,

Kandhamal, Koraput, Malkangiri, Nabarangpur, Nuapada and Rayagada.

● The primary aim of the Gramodaya scheme is to facilitate the convergence of various

government departments to ensure effective development in LWE-affected areas.

About Odisha :
● Governor : Raghubar Das

● Chief Minister : Mohan Charan Majhi

● Capital : Bhubaneswar

● National Park : Simlipal National Park, Bhitarkanika National Park

● Wildlife Sanctuaries : Debrigarh Wildlife Sanctuary, Sunabeda Wildlife Sanctuary, Hadagarh

Wildlife Sanctuary

Delhi implements total firecracker ban to tackle winter air pollution

● The Delhi government has imposed a complete ban on the manufacturing, storage, selling, and

bursting of all kinds of firecrackers, including online sales, effective until January 1, 2025.

● The Delhi police have been tasked with enforcing the ban strictly and are required to submit daily
action-taken reports to a designated committee.

● On October 9, 2024, Delhi’s air quality was recorded in the "poor" category, with an AQI reading

of 220.

AQI Categories:
➢ 0-50: Good

➢ 51-100: Satisfactory

➢ 101-200: Moderate

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 Important Monthly Current Affairs Capsule – October 2024

➢ 201-300: Poor
➢ 301-400: Very Poor

➢ 401-500: Severe

About Delhi :
● Lt. Governor : Vinai Kumar Saxena

● Chief Minister : Atishi Marlena Singh (AAP)

Gujarat's Jubilant Ingrevia becomes part of World Economic Forum's Global Lighthouse Network
● Jubilant Ingrevia, based in Gujarat, has been recognized as the latest Indian company to join the

World Economic Forum's (WEF) Global Lighthouse Network.

● The Global Lighthouse Network comprises industry leaders that are transforming manufacturing

processes through AI innovation and digital technologies.

● India-based units of ReNew, Cipla, Ceat, Dr Reddy's, Mondelez International, Unilever, ACG,

Schneider Electric and Tata Steel are already on the list.

● The WEF announced that 22 new manufacturers have joined the network, bringing the total to

172 production facilities and value chains worldwide.

● The network now spans 10 countries, including: China, Czech Republic, Germany, India, Mexico,

Singapore, Sweden, Türkiye, Switzerland, Vietnam

● The Global Lighthouse Network is an initiative co-founded by the WEF and McKinsey &

Company, supported by an advisory board of industry leaders focused on shaping the future of

global manufacturing.

Gujarat Government Allocates ₹10 Crore for Caracal Breeding and Conservation Center in Kutch's
Chadva Rakhal Region
● The Gujarat government has announced the creation of a Caracal Breeding and Conservation

Center in the Chadva Rakhal region of Kutch.

● A budget of ₹10 crore has been allocated for the establishment of this center.

● The center aims to protect and breed the rare and critically endangered Caracal species found in

Gujarat's Kutch district.

About Gujarat :

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 Important Monthly Current Affairs Capsule – October 2024

● Capital: Gandhinagar
● Chief minister: Bhupendrabhai Patel

● Governor: Acharya Devvrat

● NP: Gir National Park, Marine National Park, Velavadar National Park, Jambughoda Wildlife

Sanctuary, Barda Wildlife Sanctuary, Vansda National Park, Purna Wildlife Sanctuary, Gaga

Wildlife Sanctuary

Minister of Information Technology and Biotechnology Priyank Kharge states Karnataka's goal to
become Asia's hub for gaming and animation
● Priyank Kharge, Minister of Information Technology and Biotechnology, announced that

Karnataka aims to become the gaming and animation capital of India and Asia during the Indian

Gaming Convention (IGC) in New Delhi.

● The state plans to establish a gaming accelerator by the end of the financial year to support the

growth of the gaming industry.

● Kharge expressed interest in hosting India’s first government-sponsored eSports Olympics to

maintain leadership in the gaming sector.

Karnataka Government Unveils Cauvery Stage VI Project to Meet Bengaluru's Water Needs
● Karnataka Chief Minister Siddaramaiah announced the implementation of the Cauvery Stage VI

project to secure Bengaluru's future water needs.

● The event was held at T.K. Halli in Malavalli taluk.

● The announcement followed the launch of the Cauvery Stage V project, which supplies 2,225

million litres per day (MLD) of water to Bengaluru, at a cost of ₹4,600 crore.

Jharkhand Cabinet Raises Women’s Honorarium to Rs 2,500; Approves Development Initiatives

● The honorarium for women under the Maiyaan Samman Yojana will be increased from Rs 1,000
to Rs 2,500, effective December 2024.
● Annual honorarium will now rise from Rs 12,000 to Rs 30,000.
● This increase will benefit 5.3 million women aged 18 to 50.
● Seen as a response to the BJP's Gogo Didi Yojana, which promises a monthly transfer of Rs
2,100 to women’s accounts.

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 Important Monthly Current Affairs Capsule – October 2024

● Phase-2 development of the Netarhat tourism area has been approved, with a total budget of Rs
43.08 crore, including Rs 2.49 crore for land acquisition compensation.
● Amendments to the Anganwadi Centre Building Construction Scheme under MNREGA
convergence were approved to improve the implementation process.
About Jharkhand:
● Capital: Ranchi
● Chief Minister: Hemant Soren
● Governor: Santosh Gangwar
● National Park: Hazaribagh National Park, Betla National Park, Dalma Wildlife Sanctuary,
Palamau Tiger Reserve
Karnataka renames all residential schools as Maharishi Valmiki Schools; Raichur University gets a new
name too
● Valmiki Jayanti 2024: The Karnataka government, led by CM Siddaramaiah, has renamed all
government residential schools in the state Maharishi Valmiki Residential Schools.
● In addition, Raichur University will be renamed Maharishi Valmiki University.
● The announcement made by the Chief Minister coincides with Valmiki Jayanti, a day on which
the nation celebrates the birth anniversary of the legendary poet.
● It is observed on October 17.
● Valmiki Jayanti honours Maharishi Valmiki, the revered sage credited with composing the
Ramayana, one of the most significant epics in Indian literature.
● The epic imparts lessons on ethics, morality, and the ultimate victory of good over evil.
Uttarakhand Madrasa Board to make Sanskrit mandatory in 416 institutions
● The Uttarakhand Madrasa Education Board (UMEB) has announced a plan to introduce Sanskrit
as a compulsory subject in 416 registered madrassas across the state, benefiting over 70,000
students.
● A formal proposal has been drafted, and discussions with the state's Sanskrit department are
underway.
Karnataka Plans to Implement Fees for Gig Workers' Welfare
● Karnataka is set to introduce a 1-2% welfare fee on transactions conducted through aggregator

platforms (e.g., Zomato, Swiggy, Ola, Uber, Rapido, Amazon, Flipkart) to support gig workers.

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 Important Monthly Current Affairs Capsule – October 2024

● The Karnataka labour minister, Santosh Lad, stated that the state prefers to start with a lower fee
of 1-2% instead of the proposed 5% under the Central Social Security Code.

● The welfare fee will be passed on to consumers, leading to a slight increase in transaction costs,

estimated to be a few rupees per order.

● The draft Platform Based Gig Workers (Social Security and Welfare) Bill 2024 was initially

introduced in June and has faced opposition from industry bodies, such as Nasscom, due to

concerns over operational impacts and potential tax duplications

Haryana Government, Led by Saini, Enacts Sub-Classifications for Scheduled Castes

● The Haryana Cabinet, led by Nayab Singh Saini, held its first meeting and announced the

implementation of the Supreme Court's order regarding the sub-classification of Scheduled

Castes, effective immediately.

● Significance of the Move: This decision is notable as it is the first of its kind in India following the

Supreme Court's ruling.

● It aims to strengthen the Bharatiya Janata Party's (BJP) outreach to Dalits in the state.

About Haryana :
● Governor : Bandaru Dattatreya

● Chief Minister : Nayab Singh Saini

● Capital : Chandigarh

Jammu and Kashmir Cabinet Passes Resolution Urging Restoration of StatehoodResolution

● The first cabinet meeting of the Omar Abdullah government in Jammu and Kashmir was held.

● The cabinet unanimously adopted a resolution calling for the restoration of statehood to Jammu

and Kashmir.

● Background:Jammu and Kashmir lost its special status and was bifurcated into two Union

Territories (J&K and Ladakh) following the abrogation of Article 370 in 2019.

About J&K :
● Lieutenant Governor : Manoj Sinha

● Chief Minister : Omar Abdullah

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 Important Monthly Current Affairs Capsule – October 2024

● Capitals : Srinagar, Jammu

Uttar Pradesh Government Greenlights Development Master Plans for Noida Authority and YEIDA Over
Next 15 Years
● The Uttar Pradesh (UP) government approved two master plans for development projects by

the Noida Authority and Yamuna Expressway Industrial Development Authority (YEIDA) over the

next 15 years.

● Focus Areas:Noida Master Plan 2041:

○ Concentrates on the expansion of the Dadri-Noida-Ghaziabad Investment Region

(DNGIR), also known as New Noida.

○ Land acquisition will involve 80 villages in Gautam Budh Nagar and Bulandshahr districts.

● Project Phases:The development will occur in four phases:

○ Phase 1: 3,165 hectares by 2027.

○ Phase 2: 3,798 hectares from 2027 to 2032.

○ Phase 3: 5,908 hectares by 2037.

○ Phase 4: 8,230 hectares by 2041.

● Financial Allocation:Approximately ₹1,000 crore has been allocated for land acquisition.

About UP :
● Governor : Anandiben Patel

● Chief Minister : Yogi Adityanath

● Capital : Lucknow
● National Park : Dudhwa National ParkWildlife Sanctuary : Bakhira Wildlife Sanctuary,

Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary

More than 446 butterfly species were identified at Kaziranga National Park, ranking as the second
highest in India
● Over 446 butterfly species have been documented in Kaziranga National Park (KNP), making it

the second-highest concentration of butterfly species in India, following Namdapha National Park

in Arunachal Pradesh.

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 Important Monthly Current Affairs Capsule – October 2024

● Kaziranga National Park is located in the northeastern part of India, specifically in the districts of
Golaghat and Nagaon in Assam.

● Significance of the Park:KNP is recognized as the largest undisturbed area and a representative

habitat in the Brahmaputra Valley floodplain.

● In 1985, Kaziranga was designated as a UNESCO World Heritage Site due to its ecological

significance.

About Assam :
● Governor : Lakshman Acharya

● Chief Minister : Himanta Biswa Sarma

● Capital : Dispur
● National Parks : Kaziranga National Park, Manas National Park, Dibru - Saikhowa National

Park,Nameri National Park, Rajiv Gandhi Orang National Park

Madhya Pradesh: 'Pink Alarms' Introduced at Datia District Hospital and Medical College to Enhance
Women's Safety

● In Madhya Pradesh, in a first of its kind of initiative, `pink alarms’ have been installed at the

government-run district hospital and medical college in Datia.

● The issue of safety of women staff at public hospitals came to the fore recently after the rape and

murder of a trainee doctor at RG Kar Medical College and Hospital in Kolkata.

● Significance:State's First Facility: This is the first government hospital in Madhya Pradesh to

provide such a facility aimed at enhancing the security of women.

About MP :
● Governor: Mangubhai C. Patel

● Chief Minister: Mohan Yadav

● Capital: Bhopal

● National Park: Satpura National Park, Kanha National Park, Bandhavgarh National Park

● Wildlife Sanctuary: Nauradehi Wildlife Sanctuary, Bori Wildlife Sanctuary

Odisha To Host 18th Pravasi Bharatiya Divas In Bhubaneswar

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 Important Monthly Current Affairs Capsule – October 2024

● Bhubaneswar, Odisha will host the 18th Pravasi Bharatiya Divas (PBD), which marks the
contribution of the overseas Indian community to the development of the country, in January

2025.

● The chief minister has approved the proposal sent by the Ministry of External Affairs for hosting

the three-day event beginning from January 8.

About Pravasi Bharatiya Divas :

1. Pravasi Bharatiya Divas is a significant Central programme recognising Indian immigrants’

contributions to the country’s development.

2. It commemorates Mahatma Gandhi’s return from South Africa on January 9.

3. Since 2003, it has been held annually, and since 2015, biennially, with 17 events held so far.
4. The 17th edition took place in Indore of Madhya Pradesh in 2023

Kerala Introduces Citizen Sentinel App to Monitor Traffic Rule Violations

● Kerala's Minister for Transport, K.B. Ganesh Kumar, launched the Citizen Sentinel app, allowing

citizens to upload photos and videos of traffic violations via the NextGen Parivahan app.

● The app aims to reduce traffic violations by making enforcement unpredictable and less

dependent on fixed measures like CCTV cameras.

● State-Wide Implementation: Kerala is the 3rd state in India to implement the mParivahan Citizen
Sentinel app, following Chhattisgarh and Odisha.

About Kerala:
● Capital: Thiruvananthapuram

● Chief Minister: Pinarayi Vijayan

● Governor: Arif Mohammad Khan

● National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park,

Silent Valley National Park, Indira Gandhi National Park

Assam Chief Minister Himanta Biswa Sarma unveils 'Mission Basundhara 3.0' to digitize land services
and secure land rights for indigenous communities

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 Important Monthly Current Affairs Capsule – October 2024

● Assam Chief Minister (CM) Himanta Biswa Sarma launches Mission Basundhara 3.0 to digitise
land services to grant land rights to indigenous people.

● The initiative aims to resolve land disputes and enhance governance transparency.

● Eligibility Criteria: Applicants must prove residency in Assam since 1951 or demonstrate that

three generations of their family have lived in the state for 75 years.

About Assam :
● Governor : Lakshman Acharya

● Chief Minister : Himanta Biswa Sarma

● Capital: Guwahati

● National Park: Kaziranga National Park, Manas National Park, Nameri National Park
● Wildlife Sanctuary: Garampani Wildlife Sanctuary, Laokhowa Wildlife Sanctuary, Bornadi Wildlife

Sanctuary

Bihar Chief Minister Nitish Kumar Launches Panchayat Development Projects Valued at ₹7,160 Crore

● Bihar Chief Minister Nitish Kumar inaugurated and laid the foundation stone for various projects

worth Rs 7,160 crore.

● The projects include the establishment of 2,615 panchayat government buildings across different

blocks in Bihar.
● E-Governance Initiatives: The launch of the e-gram kachhari court management system and the

portals for several district councils were part of the inauguration.

About Bihar :
● Governor : Rajendra Arlekar

● Chief Minister : Nitish Kumar

● Capital : Patna

● National Parks : Valmiki National Park

● Wildlife Sanctuary : Kaimur Wildlife Sanctuary, Nakti Dam Bird Sanctuary, Kanwar Lake Bird

Sanctuary

Ustad Allauddin Khan Festival Celebrates 50th Anniversary in Maihar, Madhya Pradesh

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 Important Monthly Current Affairs Capsule – October 2024

● The Ustad Allauddin Khan Festival is being held in Maihar, Madhya Pradesh, marking its golden
jubilee year (50th anniversary).

● The festival will take place over three days, concluding on October 10.

● It is organized jointly by the Madhya Pradesh Culture Department, Ustad Allauddin Khan Music

and Art Academy, and the Maihar District Administration.

● Exhibitions:Two exhibitions will be held during the festival:

○ ‘Devi’: This exhibition will showcase a collection of miniature paintings based on the 108
names of Goddesses.
○ ‘Tantu’: This exhibition will focus on string instruments, highlighting their significance in
music.
About MP :
● Governor: Mangubhai C. Patel

● Chief Minister: Mohan Yadav

● Capital: Bhopal

● National Park: Satpura National Park, Kanha National Park, Bandhavgarh National Park

● Wildlife Sanctuary: Nauradehi Wildlife Sanctuary, Bori Wildlife Sanctuary

Assam Chief Minister Himanta Biswa Sarma Launches ‘Nijut Moina Scheme’ to Boost Girls’ Higher
Education Enrolment and Combat Child Marriage

● Assam Chief Minister (CM) Himanta Biswa Sarma launched the Nijut Moina Scheme to provide

monthly financial assistance, aiming to increase girls' enrolment in higher education and fight

child marriage.

● Target Group: The scheme targets girl students from Higher Secondary (HS) to Postgraduate

(PG) levels in government and government-aided institutions.

● Complementary to Free Admission Scheme: It complements the existing free admission scheme

by providing additional financial support.

● Monthly Financial Assistance:

● HS First Year: ₹10,000 annually (₹1,000/month for 10 months).

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● Graduate Level: ₹12,500 annually (₹1,250/month for 10 months).

● Postgraduate Level: ₹25,000 annually (₹2,500/month for 10 months).

● Duration of Support: Assistance will be provided for 10 months in each academic year.

Gujarat Government Approves New Regulations for Boating and Water Sports
● The Gujarat government approved the Gujarat Inland Vessel (Registration, Survey, Operation of

Category ‘C’ Inland Vessels) Rules 2024 to ensure safe boating and water sports activities in the

state.

● Scope of Rules: Applicable to Category ‘C’ inland vessels less than 10 meters in length;

individuals who wish to register these vessels must apply through the respective district

magistrates.
● Gujarat Maritime Board (GMB) Roles:

● The Vice Chairman and CEO of the GMB hold powers over the implementation.

● GMB’s Nautical Officer serves as the Chief Surveyor.

● District Magistrates are designated as Registrars for water sports and boating.

● Marine Officers and Engineers are appointed as survey in-charges for vessel inspection and

management.

About Gujarat
● Capital: Gandhinagar

● Chief minister: Bhupendrabhai Patel

● Governor: Acharya Devvrat

● NP: Gir National Park, Marine National Park, Velavadar National Park, Jambughoda Wildlife

Sanctuary, Barda Wildlife Sanctuary, Vansda National Park, Purna Wildlife Sanctuary, Gaga

Wildlife Sanctuary

Uttar Pradesh Chief Minister Yogi Adityanath unveils scholarship program for Sanskrit students
statewide
● Uttar Pradesh (UP) Chief Minister (CM) Yogi Adityanath launched a scholarship scheme at

Sampurnanand Sanskrit University, aimed at supporting Sanskrit students across UP.

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● A total of ₹586 lakh (₹5.86 crore) will be distributed among 69,195 students pursuing Sanskrit
studies.

About UP :
● Governor : Anandiben Patel

● Chief Minister : Yogi Adityanath

● Capital : Lucknow

● National Park : Dudhwa National ParkWildlife Sanctuary : Bakhira Wildlife Sanctuary,

Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary

Centre introduces mobile application to resolve issues faced by Punjab rice millers

● The Consumer Affairs Ministry launched the FCI Grievance Redressal System (FCI GRS) mobile

app to assist rice millers in Punjab with their grievances related to the procurement of paddy and

custom milled rice (CMR).

● The initiative follows the Union government's promise to ensure seamless procurement of paddy

and CMR in Punjab.

About Punjab :
● Governor : Gulab Chand Kataria

● Chief Minister : Bhagwant Mann

● Capital : Chandigarh

Chhattisgarh Government Increases Other Backward Classes Reservation for Local Body Elections
● The Chhattisgarh government, led by the Bharatiya Janata Party (BJP), has announced an
increase in the reservation for Other Backward Classes (OBC) in local body elections.

● The decision was made during a Cabinet meeting chaired by Chief Minister Vishnu Deo Sai and

is based on recommendations from the State Backward Classes Welfare Commission.

● Reservation Conditions:OBC reservation will only apply in bodies where the total reservation for

Scheduled Castes (SC) and Scheduled Tribes (ST) is below 50%.

About Chhattisgarh :
● Governor : Ramen Deka

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 Important Monthly Current Affairs Capsule – October 2024

● Chief Minister : Vishnu Deo Sai

● Capital : Raipur

Karnataka Government Approves New Tourism Policy, Aiming for ₹1,500 Crore in Investments

● The Karnataka Cabinet approved the Karnataka Tourism Policy 2024-29, with a target to attract

₹1,500 crore in investments in the tourism sector.

● Tourism Targets:Foreign Tourists: The state aims to attract 20 lakh foreign tourists annually to

rank among the top five states in foreign tourist arrivals (currently around 12-14 lakh).

● Domestic Tourists: Karnataka seeks to be in the top three states for domestic tourism with a

target of 48 crore local tourists annually.

About Karnataka :
● Governor : Thawar Chand Gehlot

● Chief Minister : Siddaramaiah

● Capital : Bangalore

● Wildlife Sanctuary : Bramhagiri Wildlife Sanctuary, Dandeli Wildlife Sanctuary, Jogimatti Wildlife

Sanctuary

Bihar's First Dry Port Inaugurated by Industry Minister Nitish Mishra in Bihta Near Patna

● Bihar's first dry port was inaugurated by Industry Minister Nitish Mishra in Bihta, a town near the

state capital, Patna.

● Purpose: The dry port is part of Bihar’s initiative to enhance the export of goods produced in the
state, developed in collaboration with a private company.

● Definition: A dry port, or inland container depot (ICD), serves as a logistics facility located away

from seaports or airports, facilitating cargo handling, storage, and transportation.

About Bihar :
● Governor : Rajendra Arlekar

● Chief Minister : Nitish Kumar

● Capital : Patna

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 Important Monthly Current Affairs Capsule – October 2024

Delhi Developer Draws Attention for Owning jiohotstar.com Domain Name

● A Delhi-based developer gained attention after revealing ownership of the domain name

jiohotstar.com.

● Purchase Rationale: The developer purchased the domain anticipating a potential merger

between Reliance JioCinema and Disney+ Hotstar.

● Cybersquatting Definition: Cybersquatting refers to the act of registering a domain name with the

intent to profit from a trademark, corporate, or personal name.

Rajasthan Government Launches Rajasthan Investment Promotion Scheme 2024 to Enhance Private

Investment and Economic Growth

● The Rajasthan government has introduced the Rajasthan Investment Promotion Scheme (RIPS)

2024 to boost private investment and economic growth in the state.

● Objectives: RIPS 2024 aims to provide enhanced financial incentives across a broader range of

sectors compared to the previous RIPS 2022.

● Global Investment Summit: The initiative was launched in anticipation of the ‘Rising Rajasthan’

Global Investment Summit 2024, scheduled to take place in Jaipur from December 9 to 11, which

aims to attract both domestic and international investors.

● Rajasthan has signed investment Memorandums of Understanding (MoUs) totaling ₹15 lakh

crore under the ‘Rising Rajasthan’ Summit initiative.

● Goal of RIPS 2024: The scheme aims to position Rajasthan as a prime investment destination

while strengthening both traditional and emerging industries in the state.

BUSINESS NEWS
Statistics Ministry to Publish New GDP Growth Data with 2022-23 Base Year by February 2026
● The Ministry of Statistics and Programme Implementation (MoSPI) will publish GDP growth data with
a new base year of 2022-23 by February 2026.

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 Important Monthly Current Affairs Capsule – October 2024

● This base year revision aims to reflect the most up-to-date economic trends and will incorporate new
data such as Household Consumption Expenditure Survey (HCES 2023-24), Annual Survey of
Unincorporated Sector Enterprises (ASUSE 2022-23), and GST data.
● The base year for retail inflation (CPI) and factory output growth (IIP) will also be revised to 2022-23.
● The base year must be a 'normal' year, free from major global or domestic disruptions.
● Despite challenges in choosing a 'normal' year, 2022-23 has been proposed for approval by the
Advisory Committee on National Account Statistics (ACNAS).
● MoSPI will release the first flash data on employment and unemployment from the Periodic Labour
Force Survey (PLFS) by February 2025.
● The data will provide unemployment figures for both rural and urban areas, and back series data will
be included for comparison.
● MoSPI has adopted e-Sigma, a cloud-based portal for data processing and E-Sankhyiki portal for
public access to data.
Top 10 countries with the largest gold reserves in 2024
● In 2024, gold prices surged by nearly 20% due to significant purchases by central banks, rising
consumer demand, and increased interest in safe-haven assets amid geopolitical uncertainties.
Top 10 Countries with the Largest Gold Reserves (Q2 2024):
● The United States holds the largest gold reserves, almost equal to the combined total of
Germany, Italy, and France.
Rank Country Gold Reserves (in Tonnes) Holdings (%)
1 United States 8,133.46 72.41%
2 Germany 3,351.53 71.46%
3 Italy 2,451.84 68.33%
4 France 2,436.97 69.99%
5 Russian Federation 2,335.85 29.47%
6 China 2,264.32 4.91%
7 Japan 845.97 5.15%
8 India 840.76 9.57%
9 Netherlands 612.45 61.61%

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 Important Monthly Current Affairs Capsule – October 2024

10 Turkey 584.93 0%

India's Position:
● Managed by the Reserve Bank of India (RBI), India has been steadily increasing its gold
reserves in 2024:
o Year-to-date net purchases: 37 tonnes
o Surpassing annual net purchases from 2022 (33 tonnes) and 2023 (16 tonnes)
● India ranks 8th globally with 840.76 metric tonnes of gold reserves, driven by its position as one
of the largest gold markets and rising affluence.
Adani Airport Holdings Secures ₹19.5 Billion Through Major Bond Issuance
● Adani Airport Holdings has raised ₹19.5 billion (approximately $232.72 million) via a significant
domestic bond issue.
● Coupon Rate:
o 9.35% monthly payment.
● Bond Rating:
o Rated A+
● This issuance marks the largest since the allegations made by Hindenburg Research regarding the
improper use of offshore tax havens and stock manipulation in January 2023.
Industry Output Growth and Employment in India: 2022-23
● India's industrial sector achieved a 21.5% annual output growth in FY23, primarily driven by basic
metal producers, refineries, chemical, food, and automobile companies, according to the Annual
Survey of Industries (ASI) 2022-23 released by the Ministry of Statistics and Programme
Implementation.
● Economic Growth Projection:
o According to NITI Aayog CEO B.V.R. Subrahmanyam, India’s fast-growing industrial sector,
positions the country to aim for a 9%+ economic growth rate.
o The Reserve Bank of India (RBI) revised GDP growth estimates for FY24 to 7.2%, citing
increased private consumption and rural demand recovery.
● Wage Growth:

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 Important Monthly Current Affairs Capsule – October 2024

o Average emoluments in the industrial sector increased by 14% annually to reach ₹6.4 trillion
in FY23.
● Regional Leaders:
o Tamil Nadu leads in the number of factories and persons engaged, followed by Maharashtra
and Gujarat.
o Maharashtra and Gujarat lead in gross value added in the industrial sector, followed by Tamil
Nadu.
● GDP Growth:
o India’s real GDP grew 6.7% in the June quarter of FY24, slightly below RBI’s forecast of 7.1%,
but still showcasing significant recovery post-pandemic.
Bharti Airtel Clears Spectrum Dues with ₹8,465 Crore Prepayment
● Bharti Airtel, India's second-largest telecom service provider, announced that it has prepaid ₹8,465
crore to the Department of Telecommunications, settling all outstanding dues related to the spectrum
acquired in 2016.
● Spectrum Acquisition:
o In 2016, Airtel purchased 173.8 MHz of spectrum across the 1800, 2100, and 2300 MHz
bands for ₹14,244 crore through an auction.
o Telecom operators who acquired Spectrum in 2016 were obligated to pay dues via annual
installments over 12 years, including a 2-year moratorium after making an upfront payment.
● Interest Rates and Prepayments:
o The liabilities carried an interest rate of 9.3%.
o This is the third prepayment made by Airtel in 2024, following its strategy to clear older high-
cost spectrum dues.
o In June 2024, Airtel prepaid ₹7,904 crore to settle all deferred liabilities for spectrum acquired
in 2012 and 2015, with interest rates of 9.75% and 10%, respectively.
Retail Inflation for Industrial Workers Edges Up to 2.44% in August 2024
● Retail inflation for industrial workers, measured by the Consumer Price Index for Industrial Workers
(CPI-IW), increased slightly to 2.44% in August 2024, up from 2.15% in July 2024.
● The marginal uptick reflects a mild rise in price levels for industrial workers.

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 Important Monthly Current Affairs Capsule – October 2024

● The All-India CPI-IW for August 2024 decreased by 0.1 points, bringing the index to 142.6 points.
● In contrast, the index stood at 142.7 in July 2024.
● The Labour Bureau, under the Ministry of Labour & Employment, compiles the CPI-IW every month.
● The data is gathered from 317 markets across 88 industrially significant centres in the country.
September 2024 GST Collections Grow at Slowest Pace in FY25 Amid High Refunds
● India's net Goods and Services Tax (GST) collections for September 2024 rose by 3.9% to ₹1.5
trillion, marking the slowest pace of growth in the current financial year (FY25).
● This slowdown is attributed to an increase in refunds, reflecting a softer trend in tax receipts.
● Gross GST Collections:
o Gross GST collections (before refunds) grew by 6.5%, reaching ₹1.7 trillion.
o This was the second consecutive month of single-digit growth, and the slowest increase in 39
months.
● Cumulative Growth:
o From April to September 2024, gross GST collections saw 9.5% growth, a slight decline from
the 10.1% recorded in the previous months (April-August).
● Quarterly Comparison:
o The average monthly GST collections fell to ₹1.77 trillion in the second quarter (July-
September), down from ₹1.86 trillion in the first quarter (April-June).
● State-Wise Performance:
o States like Haryana (24%), Delhi (20%), and Uttarakhand (14%) showed double-digit growth
in collections.
o Karnataka (8%), Maharashtra and Tamil Nadu (5% each), and Uttar Pradesh (3%)
experienced single-digit growth.
o Gujarat saw 0% growth, while Andhra Pradesh witnessed a 4% contraction.
● GST Refunds:
o Refunds surged by 31% year-on-year to ₹20,458 crore, with export-related refunds (39.2%)
outpacing domestic ones (24.3%).
U.S. Commerce Department's $100 Million AI Initiative for Sustainable Semiconductor Development

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 Important Monthly Current Affairs Capsule – October 2024

● The U.S. Commerce Department has announced plans to allocate $100 million to promote the use
of artificial intelligence (AI) in developing new, sustainable semiconductor materials.
● This initiative is part of a broader effort to enhance semiconductor manufacturing while reducing
environmental impact.
● AI-Powered Autonomous Experimentation: The funding will be directed to universities, national
laboratories, and the private sector to develop AI-driven autonomous experimentation to reduce the
time and resources required to develop new semiconductor materials.
Inauguration of India's First Compressed Biogas Facility in Ranchi
● Prime Minister Narendra Modi inaugurated the first compressed biogas facility in Ranchi, Jharkhand,
developed by GAIL (India) Limited in partnership with CEID Consultants and LSTK/EPC Contractor.
● This facility represents a significant step towards sustainable waste management and clean energy
production.
● The biogas facility has a daily capacity of 12,500 m³, designed to process 150 tonnes of municipal
solid waste each day. It is expected to produce 5,000 kg of bio-CNG and 25 tons of fermented bio-
manure daily.
● Location: The facility is located at the Jhir Dumping Site Mouza Jhiri, occupying 7.86 acres in Ranchi.
Reliance Group Expands into Bhutan with Major Renewable Energy Projects
● The Anil Ambani-led Reliance Group has announced its entry into Bhutan, planning to establish
1,270 megawatts of solar and hydroelectric projects in the Himalayan kingdom.
● This strategic move is marked by a partnership agreement with Druk Holding and Investments Ltd
(DHI), the commercial and investment arm of the Royal Government of Bhutan, aimed at enhancing
investment in Bhutan's renewable energy sector.
Maharashtra Cabinet Approves 255 Acres of Salt Pan Land for Slum Rehabilitation
● The Maharashtra cabinet approved the use of 255 acres of salt pan land in Mumbai to develop
housing for individuals affected by slum rehabilitation projects.
● The implementation of this plan has been assigned to the Adani Group under the Dharavi Slum
Redevelopment Project.

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 Important Monthly Current Affairs Capsule – October 2024

● Earlier this month, the Centre approved the transfer of 255.9 acres of salt pan land to the Dharavi
Redevelopment Project Pvt Ltd (DRPPL), a joint venture between the Adani Realty Group and the
Maharashtra government, for constructing rental housing for slum dwellers.
● The land to be acquired includes:
o 120.5 acres in Mauje Kanjur
o 76.9 acres in Kanjur and Bhandup
o 58.5 acres in Mauje Mulund
CareEdge Ratings Enters Global Scale Ratings Space
● CareEdge Ratings, a leading credit rating agency in India, has made history by becoming the first
Indian credit rating agency to enter the Global Scale Ratings arena through its subsidiary, CareEdge
Global IFSC Limited.
● This milestone marks a significant step in CareEdge's evolution into a global knowledge-based
institution.
● The launch took place at GIFT City, Gandhinagar, India.
● CareEdge unveiled a comprehensive report on Sovereign Ratings of Global Economies, assigning
ratings to 39 countries.
Assessment Methodology: The CareEdge Sovereign Ratings methodology evaluates creditworthiness
based on five pillars:
1. Economic Structure & Resilience (25% weightage)
2. Fiscal Strength (25% weightage)
3. External Position & Linkages (16.67% weightage)
4. Monetary & Financial Stability (16.67% weightage)
5. Institutions & Quality of Governance (16.67% weightage)
About CareEdge Ratings
Established in 1993, CareEdge Ratings is India's second-largest credit rating agency, renowned for its
credibility in rating diverse sectors, particularly in BFSI and Infrastructure. The group includes various
subsidiaries, such as:
● CARE Analytics & Advisory Private Ltd.
● CARE ESG Ratings Ltd.

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 Important Monthly Current Affairs Capsule – October 2024

● CareEdge Global IFSC Ltd. (and other international entities in Mauritius, South Africa, and Nepal).
Government of India Plans Bond Buyback Worth Rs 25,000 Crore
● The Government of India has announced a bond buyback worth Rs 25,000 crore through a bond
auction scheduled.
● The Reserve Bank of India (RBI) will oversee the auction process.
● The buyback will target specific bonds that are nearing maturity in 2025 and early 2026.
Bonds to be Bought Back:
● 7.72% bond maturing on May 25, 2025
● 5.22% bond maturing on June 15, 2025
● 8.20% bond maturing on September 24, 2025
● 5.15% bond maturing on November 9, 2025
● 7.59% bond maturing on January 11, 2026
Cabinet Approves National Mission on Edible Oils to Enhance Self-Sufficiency
● The Cabinet has approved a Rs 10,103 crore budget for the National Mission on Edible Oils.
● Target to boost oilseed production from 12.7 million tonnes (MT) to 20.2 MT by 2031.
● Increase domestic edible oil requirement coverage to 72% by 2031, up from 57%.
5. Focus on Key Oilseeds: The mission emphasizes increasing production of:
o Rapeseed-mustard
o Groundnut
o Soybean
o Sunflower
o Sesamum
6. Area Expansion: Oilseed cultivation area will expand from 29 million hectares (MH) to 33 MH.
7. Production Increase Targets:
o Projected rise in oilseed production from 39 MT (2022-23) to 69.7 MT by 2030-31.
8. High-Yielding Varieties: The mission promotes the adoption of:
o High-yielding, high-oil-content seed varieties.
o Cultivation in rice fallow areas and intercropping practices.
India's Foreign Exchange Reserves Cross $700 Billion Milestone

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 Important Monthly Current Affairs Capsule – October 2024

• India's foreign exchange reserves (forex) have surpassed the $700 billion mark for the first time,
marking a significant achievement as the country becomes the fourth economy globally to reach

this milestone, joining China, Japan, and Switzerland.

• The reserves climbed by $12.588 billion to a record $704.885 billion for the week ending

September 27, reflecting the largest weekly increase since mid-July 2023.

• Increase in Reserves:

o Forex reserves grew to $704.885 billion.

o Increase attributed to valuation gains and dollar purchases by the Reserve Bank of India
(RBI).

o Previous week’s reserves had risen by $2.838 billion to $692.296 billion.

Union Government Launches Income Tax Regime Revamp

• The Union government has officially initiated a comprehensive review of the Income-tax Act,

1961, to revamp the existing income-tax regime.

• This effort aims to simplify tax laws and enhance compliance for taxpayers.

• Key Objectives

• Simplification of Language: Make the Income-tax Act concise and clear for better understanding.

• Reduction of Litigations: Minimize disputes and legal challenges related to tax laws.

FDI policy: Instead of an overall review, government may continue with tweaks

• The Department for Promotion of Industry and Internal Trade (DPIIT) has put on hold its plan to

conduct a comprehensive review of the Foreign Direct Investment (FDI) policy, particularly for

sectors like defence, insurance, banking, and plantations.

• Instead, the department will continue its strategy of making sector-specific adjustments and

procedural improvements as needed.

India To Join FTSE Russell Bond Index Next Year(2025)

• September 2025: India will officially join the FTSE Russell Emerging Markets Bond Index

(EMGBI) with a 9.35% weightage, becoming the second-largest player, following China.

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 Important Monthly Current Affairs Capsule – October 2024

• The inclusion is expected to bring in billions of dollars in fresh foreign investment and signifies
India’s growing prominence in the global debt market.

Indian Oil Hosts Indane XTRATEJ HORECA Harmony Meet in Kolkata

• Indian Oil organised the Indane XTRATEJ HORECA Harmony Meet at JW Marriott, Kolkata,

bringing together key players from the city's hospitality industry including hoteliers, restaurateurs,

and caterers.

• Master Chef Sanjeev Kapoor, brand ambassador for Indane XTRATEJ, was the chief guest at

the event.
• The event featured the unveiling of the new Indane XTRATEJ Cylinder, specifically designed for

commercial kitchens in the hospitality sector.

WTO Revises Global Trade Growth Forecasts

• The World Trade Organization (WTO) has updated its projections for global merchandise trade

growth, presenting both upward and downward adjustments for the coming years.

• The WTO has revised downwards its projection for world merchandise trade growth in 2025 to

3%, down from 3.3%.

• Conversely, the 2024 forecast for merchandise trade growth has been revised upwards to 2.7%,

an increase from the prior estimate of 2.6%.

Reliance Industries Reports 3% Drop in Q2 FY25 Profit Amid Weak Refining Margins
● Reliance Industries reported a 3% drop in net profit for Q2 FY25, reaching Rs 19,323 crore, which
was in line with analysts' expectations.
● Revenue remained stable at approximately Rs 2.4 lakh crore, driven by strength in the oil-to-
chemicals (O2C), oil & gas, and fast-growing digital services (Jio) businesses.
1. Operating Profit Decline:
o Operating profit fell by 3.1% to Rs 41,809 crore, reflecting underlying business
performance.
o Expenses increased slightly by 1.4% to nearly Rs 2.2 lakh crore.
BSNL to Roll Out Indigenous 4G by May 2024, 5G by June 2025: Telecom Minister Jyotiraditya Scindia

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 Important Monthly Current Affairs Capsule – October 2024

● BSNL, the state-run telecom company, will complete the rollout of its indigenously developed 4G
technology by May 2024 using 1 lakh base stations.
● The technology is developed by a consortium of C-DOT (state-run) and TCS (domestic IT company).
● India has achieved the fastest 5G rollout globally, with 4.5 lakh towers installed in 22 months,
providing 80% coverage to the population.
Adobe Expands AI Capabilities with Firefly Video Model in Limited Public Beta
● Adobe has introduced its first AI video generator, Firefly Video Model, expanding its family of
creative generative AI models to include video production.
● Announced in a limited public beta, this model is designed to be commercially safe, addressing
growing concerns about copyright compliance in AI-generated content.
India's Coal Import Increases by 11.4% in April-August FY25
● India's coal imports surged by 11.4% to 121.1 million tonnes (MT) during the April-August period of
the current fiscal year compared to 108.7 MT in the same period last year, according to data from
mjunction, a B2B e-commerce platform.
● Total coal and coke imports during April-August 2024 reached 121.18 MT, reflecting an increase of
11.4% from 108.74 MT in the previous year.
● In August 2024, coal imports rose 5.4% to 20.70 MT, up from 19.63 MT in August 2023.
● In FY24, India's coal imports rose 7.7% to 268.24 MT.
● Domestic coal production also increased by 6.48% to 384.08 MT during the first five months of FY25,
compared to 360.71 MT in the same period of FY24.
Increased Asset Monetisation Target Under the National Monetisation Pipeline (NMP)
● The NITI Aayog has revised the asset monetisation target for FY25, increasing it by ₹23,000 crore to
₹1.9 trillion.
● This adjustment is part of efforts to reach the ₹6 trillion goal set under the National Monetisation
Pipeline (NMP), which aims to recycle capital from public assets for infrastructure investment.
● National Monetisation Pipeline (NMP) Overview:
o Launched by Finance Minister Nirmala Sitharaman in August 2021, the NMP targets ₹6 trillion
in asset monetisation over four years.

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 Important Monthly Current Affairs Capsule – October 2024

o In the first three years, ₹3.9 trillion was achieved, slightly short of the ₹4.3 trillion target. The
revised target for FY25 is ₹1.9 trillion, meaning the government will miss the overall goal by
around ₹20,000 crore.
● What is Asset Monetisation?
o Asset monetisation involves engaging private operators to manage revenue-generating public
assets, without transferring ownership.
o The objective is to unlock the economic value of underutilised assets, creating new revenue
streams while the government retains ownership.
Launch of BSE Premium Consumption Index by Asia Index:
● Asia Index, a subsidiary of BSE, has introduced a new thematic index called the BSE Premium
Consumption Index, aimed at enabling investors to tap into the future of consumption in India.
● This index focuses on companies associated with premium consumer spending, reflecting a growing
trend towards premiumisation in the Indian market.
● The index is reconstituted semi-annually and rebalanced quarterly.
● It serves as a benchmark for various investment strategies, including:
o ETFs (Exchange-Traded Funds)
o Index Funds
o PMS (Portfolio Management Services) strategies
o Active Mutual Fund (MF) schemes
India's Capex Strategy Faces Challenges Amid Election Slowdown
● India's capital expenditure (capex) for the current fiscal year (FY25) may fall short by around
₹50,000 crore, compared to the target of ₹11.11 lakh crore, due to a slowdown in asset-creating
spending prompted by general elections.
● This marks a significant challenge for the government's capex-led growth strategy, which has seen
robust growth in recent years.
● During the first five months of FY25 (April-August), the Centre's capex was ₹3 lakh crore, a decline
of 19.5% compared to ₹3.73 lakh crore in the same period last year.
● Railways and Roads, which account for 47% (₹5.24 lakh crore) of the capex budget, have seen
reduced spending.

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 Important Monthly Current Affairs Capsule – October 2024

● Railways Board: Investment of ₹1.16 lakh crore in H1FY25, down 19% from ₹1.43 lakh crore in
H1FY24.
● National Highways Authority of India (NHAI): Investment of ₹82,034 crore, down 9% from ₹90,000
crore in the same period last year.
● Defence capex may see a spike later in the fiscal year based on procurement obligations.
GoM bats for exemption of life insurance premium from GST
● The Goods and Services Tax (GST) on term life and health insurance premiums for senior citizens
may soon be exempted.
● The Group of Ministers (GoM) convened to discuss the GST rates on life and health insurance
recently and has made preliminary decisions regarding the tax structure.
● The GoM has proposed to exempt GST on health insurance premiums for coverage up to ₹5 lakh for
individuals who are not senior citizens.
● Premiums for health insurance coverage exceeding ₹5 lakh will still be subject to 18% GST.
● Currently, 18% GST is levied on life insurance premiums for term policies and family floater policies.
Upstox Launches TBT Engine to Revolutionize Retail Trading
● Upstox, one of India's leading stockbroker fintech firms, has introduced the TBT Engine (Tick-by-Tick
Engine), marking a significant advancement in retail trading.
● Following the success of TBT-powered charts in 2023, the TBT Engine aims to offer institutional-
grade trading tools to retail investors, enhancing their market precision and decision-making.
India Poised to Become the World's Third-Largest Economy by 2027
● Finance Minister Nirmala Sitharaman announced that India is likely to become the world's third-
largest economy by 2027, currently standing as the fifth largest with a GDP of approximately $3.9
trillion.
● Investment Opportunities: Speaking at the Roundtable on 'Investment Opportunities in India' at
the New York Stock Exchange (NYSE), Sitharaman emphasized India's potential for sustained
growth and its significant contribution to global economic recovery.
● Electronics and Semiconductor Initiatives: The $10 billion India Semiconductor Mission (ISM)
aims to boost India's position in global electronics value chains, with increased cooperation with
the US Department of State.

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 Important Monthly Current Affairs Capsule – October 2024

● Stable Regulatory Framework: The Finance Minister pointed to structural reforms that create a
stable environment for investors, such as:
○ Simplification of the tax structure via the Goods and Services Tax (GST).
○ Streamlining the resolution of distressed assets through the Insolvency and Bankruptcy
Code (IBC).
○ Liberalization of Foreign Direct Investment (FDI) norms.
● Digital Economy and Startups: India has become the 3rd largest startup ecosystem globally, with
over 100 unicorns innovating for public good, supported by a robust digital economy.

Centre's Dividend Receipts from CPSEs Expected to Exceed Targets for FY25
● The Indian government is projected to surpass its target of Rs 56,260 crore in dividend receipts from
central public-sector enterprises (CPSEs) for the fiscal year 2025 (FY25), with expectations of
receiving around Rs 65,000 crore.
● Current Dividend Collection: As of October 21, 2024, the Centre has already collected Rs 28,913
crore from CPSEs, which accounts for over 50% of the budget estimate for FY25.
● Comparison with Previous Year: For FY24, the revised estimate for dividend receipts from CPSEs
was Rs 50,000 crore, yet the actual receipts amounted to Rs 63,749 crore, marking it as the highest
yield from CPSEs to date.
India’s Retail Inflation Rises to Nine-Month High in September 2024
➢ India's retail inflation saw a significant increase in September 2024, reaching a nine-month high due
to rising food prices.
➢ Inflation Rate Trends:
○ Annual Retail Inflation (CPI): Rose to 5.49% in September, up from 3.65% in August, marking
the highest level since December 2023 (5.69%).
○ Despite the rise, inflation remained within the Reserve Bank of India's (RBI) medium-term
target range of 2-6%.
➢ Food Inflation:
○ Food prices remain a persistent issue, with 9.24% inflation in September compared to 5.66%
in August.

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 Important Monthly Current Affairs Capsule – October 2024

➢ In October 2024, the RBI decided to keep the benchmark repo rate unchanged at 6.5%, indicating
that any rate cuts may be delayed.
➢ The central bank has set a CPI inflation target of 4.5% for FY25 and projected real GDP growth at
7.2%.
➢ The RBI's medium-term CPI target is 4%, within a range of plus or minus 2%.
➢ Interest rate regulation is a key measure used by the RBI to control inflation by influencing borrowing
costs and consumer demand.
India’s Wholesale Price Inflation Rises to 1.84% in September 2024
● India's wholesale price index (WPI)-based inflation increased to 1.84% in September 2024, driven
primarily by rising food prices, according to recent government data
● September 2024: Wholesale inflation rose to 1.84%, up from 1.31% in August.
GoM Proposes GST Exemption on Life and Health Insurance Premiums for Senior Citizens
● The Group of Ministers (GoM) has proposed significant changes to the Goods and Services Tax
(GST) on term life insurance and health insurance premiums.
● The proposal aims to alleviate the financial burden on senior citizens, especially those facing high
insurance costs.
Key Proposals:
● GST Exemption on Health Insurance for Coverage up to ₹5 Lakh:
○ The GoM recommends exempting GST on health insurance premiums for policies with
coverage up to ₹5 lakh, except for senior citizens.
○ Policies exceeding this coverage limit would continue to attract an 18% GST.
● Complete GST Waiver for Senior Citizens:
○ A potential complete waiver of GST is being discussed for all health insurance premiums
paid by senior citizens, irrespective of the coverage amount.
● Term Life Insurance GST:
○ Currently, term life insurance premiums, including family floater policies, attract 18% GST.
The GoM is exploring avenues to reduce these rates to provide relief, particularly to senior
citizens.
Direct Tax to GDP Ratio in India Reaches Highest Level Since 2007-08

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 Important Monthly Current Affairs Capsule – October 2024

● Recent data released by the Central Board of Direct Taxes (CBDT) indicates a notable improvement
in India's direct tax to GDP ratio, which has risen to 6.11% in FY23, the highest level recorded since
2007-08.
● An analysis of the top 15 States and Union Territories shows significant disparities in this ratio
across different regions.
State Performance:
○ Delhi recorded the highest direct tax to GDP ratio at 21.22%.
○ Other leading states include Maharashtra at 16.6% and Karnataka at 9.29%. The high income
levels in these regions contribute to their elevated direct tax payments.
○ Conversely, states with lower ratios include:
■ Bihar: 0.91%
■ Uttar Pradesh: 1.68%
■ Madhya Pradesh: 1.47%
■ Rajasthan: 2.17%
India's Export Performance in FY25: Positive Growth Amid Geopolitical Challenges
● Exports to eight out of India’s top 10 destinations, including the Netherlands, the United States
(US), and the United Kingdom (UK), showed positive growth in the first half of FY25.
● Overall Export Growth: Despite geopolitical challenges and muted global demand, India’s overall
exports increased marginally by 1%, reaching $213.2 billion during April-September.
● Decline in Exports to Specific Countries: Exports to China and South Africa contracted by 9.4%
and 2.3%, respectively, highlighting challenges in these markets.
BSNL Prepares for 4G Rollout with C-DOT's Back-End Support; Focus on Indigenous Development and
5G Advancements
➢ State-owned Bharat Sanchar Nigam Ltd (BSNL) is gearing up to launch its long-awaited 4G services
across India, with plans to eventually transition to 5G.
➢ To facilitate this rollout, the Centre for Development of Telematics (C-DOT), in collaboration with
Tata Consultancy Services (TCS) and Tejas Networks, is playing a pivotal role in establishing a
robust 4G network for BSNL.
Revenue Growth of Indian Companies Slows to 5-7% in July-September Quarter

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 Important Monthly Current Affairs Capsule – October 2024

● The revenue growth of Indian companies in the July-September quarter is estimated to be 5-7%
year-on-year (Y-o-Y), marking the slowest growth in the last 16 quarters, according to CRISIL.
● The analysis is based on 435 companies, representing almost half of the listed market capitalization.
Moody’s Upgrades Vedanta Resources Ltd (VRL) Ratings Due to Funding Access
● Moody's Ratings has upgraded the ratings on bonds of Vedanta Resources Ltd (VRL),
acknowledging the company’s successful efforts to access funding.
● The rating agency raised Vedanta's corporate family rating to B3 from Caa1 and upgraded the rating
on senior unsecured bonds issued by VRL and its subsidiary Vedanta Resources Finance II Plc to
Caa1 from Caa2. A 'stable' outlook has been maintained.
NTPC Ltd Plans Significant Expansion in Thermal and Renewable Energy Capacity
● State-owned NTPC Ltd is set to enhance its thermal power generation capacity by an additional 13.6
gigawatts (GW) by the financial year 2026-27, aligning with the government’s strategy to increase
thermal power generation to meet rising energy demands.
● The company also has ambitious plans for its renewable energy segment.
● NTPC aims to commission 2.7 GW of thermal capacity by the end of the current financial year and
an additional 1.46 GW in FY26.
Government Doubles Mudra Loan Limit to Boost Entrepreneurship under 'Tarun Plus'
● The government has raised the limit on Mudra loans under the Pradhan Mantri Mudra Yojana
(PMMY) from Rs 10 lakh to Rs 20 lakh under a new category, ‘Tarun Plus’, to further support
budding entrepreneurs and enhance the nation’s entrepreneurial ecosystem.
● Objective of Expansion: The increase in loan limit aims to “fund the unfunded” by providing financial
support to emerging entrepreneurs who have successfully repaid loans in the previous ‘Tarun’
category. This aligns with the government's vision of building a robust entrepreneurial environment.
● Announcement and Implementation: Finance Minister Nirmala Sitharaman announced this in her
July 2024 Union Budget. The new limit will be available specifically for those who have availed and
repaid earlier loans under the ‘Tarun’ category.
● Scheme Overview: PMMY was launched on April 8, 2015 by Prime Minister Narendra Modi to
provide collateral-free micro-credit to non-corporate, non-farm micro-entrepreneurs for income-
generating activities. Loans under PMMY are distributed in three categories:

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 Important Monthly Current Affairs Capsule – October 2024

○ Shishu – Up to Rs 50,000
○ Kishore – Between Rs 50,000 and Rs 5 lakh
○ Tarun – Up to Rs 10 lakh
● Loan Disbursement: In 2023-24, 66.8 million loans were sanctioned, amounting to Rs 5.4 trillion.
Since the scheme’s inception, over 487.8 million loans worth Rs 29.79 trillion have been issued.
FSSAI's Shift Towards Proactive Industry Regulation Praised by Nestle India Chairman
● Suresh Narayanan, Chairman and MD of Nestle India, highlighted a positive shift in FSSAI’s
regulatory approach over the last decade.
● FSSAI has become more responsive, transparent, and industry-focused since its initial formation in
2008.
Hindustan Zinc to Invest $2 Billion to Double Production Capacity to 2 Million Tonnes
● Hindustan Zinc, a Vedanta Group company, aims to double its production capacity to 2 million
tonnes over the next few years, according to CEO Arun Misra.
● The company has engaged consultants and is seeking mining partners to achieve this goal.
● Production targets are set at 1.2 million tonnes by 2025, 1.35 million tonnes by 2026, and 1.8 million
tonnes by 2027, with a final goal of reaching 2 million tonnes.
India's Growing Reliance on Crude Oil and Natural Gas Imports in H1 FY25
● India's reliance on imported crude oil and natural gas continued to rise in the first half of the financial
year 2025 (H1 FY25).
● Crude oil import dependency increased to 88.2%, up from 87.6% in H1 FY24 and 87.8% for the
entire FY24.
● Natural gas import dependency rose to 51.5% in H1 FY25, compared to 46.8% a year ago and 47.1%
for the full FY24, per data from the Petroleum Planning & Analysis Cell (PPAC).
Geopolitical Conflicts and Trade Policy Uncertainty Pose Risks to India’s Economic Growth
● India’s monthly economic report identifies geopolitical conflicts and uncertain trade policies of major
economies as major risks to its economy.
● Potential economic challenges include geoeconomic fragmentation and high valuations in financial
markets, particularly in advanced economies.

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 Important Monthly Current Affairs Capsule – October 2024

● The Indian government forecasts a growth rate of 6.5%-7% for the current fiscal year, down from 8.2%
in the previous year due to escalating geopolitical risks.

AWARDS AND HONOURS

IIFA 2024 full list of winners: Shah Rukh Khan and Rani Mukerji bag best actors, Animal wins big
● The International Indian Film Academy (IIFA) 2024 took place in Abu Dhabi, featuring prominent
stars from the Hindi film industry, including Shah Rukh Khan, Rani Mukerji, Hema Malini, Rekha,
Anil Kapoor, and more.
● Shah Rukh Khan served as a host alongside Vicky Kaushal and Karan Johar, captivating the
audience with a lively performance of his hit song "Jhoome Jo Pathaan."
Major Winners Announced:
● Best Film: Animal by Sandeep Reddy Vanga
● Best Actor: Shah Rukh Khan for Jawan
● Best Actress: Rani Mukerji for Mrs. Chatterjee vs Norway
● Best Director: Vidhu Vinod Chopra for 12th Fail
● Best Supporting Actor: Anil Kapoor for Animal
● Best Supporting Actress: Shabana Azmi for Rocky Aur Rani Kii Prem Kahaani
● Best Actor in a Negative Role: Bobby Deol for Animal
● Best Music: Animal
● Best Lyrics: Siddharth-Garima for Satranga from Animal
● Outstanding Contribution to Indian Cinema: Jayantilal Gada and Hema Malini
● Achievement for 25 Years in Cinema: Karan Johar
Event Overview:
● The celebration commenced on September 27 with IIFA Utsavam, showcasing southern film
industries (Tamil, Telugu, Malayalam, and Kannada).
● The festivities continued with prominent attendees including Karan Johar, Rekha, Ananya
Panday, Janhvi Kapoor, and Vicky Kaushal.
● The event is set to conclude on September 29 with the exclusive IIFA Rocks, featuring live
performances by artists like Honey Singh, Shilpa Rao, and Shankar-Ehsaan-Loy.
Mithun Chakraborty to Receive Dadasaheb Phalke Award

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 Important Monthly Current Affairs Capsule – October 2024

● Veteran Bollywood actor Mithun Chakraborty, aged 74, has been announced as the recipient of the
prestigious Dadasaheb Phalke Award for his significant contributions to Indian cinema.
● The announcement was made by Information & Broadcasting Minister Ashwini Vaishnaw on social
media platform X.
● Earlier this year, Mithun was also honoured with the Padma Bhushan Award, further recognizing his
impact on the film industry.
Ashokan Charuvil Wins 48th Vayalar Ramavarma Memorial Literary Award

• Ashokan Charuvil has been awarded the 48th Vayalar Ramavarma Memorial Literary Award for

his novel Kattoorkadavu.

• This prestigious award, established by the Vayalar Ramavarma Trust, includes a cash prize of ₹1

lakh and a sculpture crafted by renowned artist Kanayi Kunhiraman.

• A judging committee comprising writers Benyamin, Gracy, and literary critic K.S. Ravikumar

selected Charuvil for this honour.

Nobel Prize in Medicine 2024: Awarded to Victor Ambros and Gary Ruvkun

• The 2024 Nobel Prize in Medicine was awarded to Victor Ambros and Gary Ruvkun for their

discovery of microRNA (miRNA) and its role in post-transcriptional gene regulation.

• Their groundbreaking work has deepened our understanding of gene expression, revealing a

new principle that is crucial for multicellular life, including humans.

Union Finance Minister Nirmala Sitharaman to Attend FE Best Banks Awards

• Union Finance Minister Nirmala Sitharaman is set to be the Chief Guest at the Financial Express

(FE) Best Banks Awards, celebrating outstanding performances by banks, non-banking finance

companies (NBFCs), small finance banks, and fintechs in India.

• The event will be attended by top bankers and corporate leaders, highlighting the robust growth

of India’s financial sector.

Nobel Prize in Physics 2024 Awarded to John J. Hopfield and Geoffrey E. Hinton

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 Important Monthly Current Affairs Capsule – October 2024

o The 2024 Nobel Prize in Physics recognizes the groundbreaking work of John J. Hopfield
and Geoffrey E. Hinton in the field of machine learning.

o Both laureates have used principles from physics to develop techniques that form the

backbone of today’s artificial intelligence (AI) technologies, particularly in the domain of

neural networks.

Nobel Prize in Chemistry 2024: David Baker, Demis Hassabis, and John Jumper awarded for protein

innovations

• The 2024 Nobel Prize in Chemistry will be shared between:

o David Baker (University of Washington, Seattle, USA), awarded for his work on

computational protein design.

o Demis Hassabis and John M. Jumper (Google DeepMind, London, UK), were awarded for

their breakthrough in protein structure prediction.

Nobel Prize in Literature 2024: Han Kang’s Poetic Exploration of Trauma

• The 2024 Nobel Prize in Literature was awarded to Han Kang, a celebrated South Korean

author, recognized for her intense poetic prose that delves into historical traumas and the fragility

of human life.

• Her work profoundly explores the interplay between personal and societal histories, reflecting

deep themes of memory, resistance, and identity.

• Birth and Background: Han Kang was born on November 27, 1970, in Gwangju, South Korea.

Nihon Hidankyo Awarded 2024 Nobel Peace Prize for Advocacy Against Nuclear Weapons

• The Norwegian Nobel Committee has awarded the 2024 Nobel Peace Prize to Nihon Hidankyo,

a Japanese organization representing the survivors of the atomic bombings of Hiroshima and

Nagasaki.

• The award recognizes the group’s significant efforts in advocating for a nuclear-free world and its

compelling witness testimonies about the horrors of nuclear warfare.

• Established in 1956, Nihon Hidankyo is the largest and most influential organization of atomic
bomb survivors in Japan.

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 Important Monthly Current Affairs Capsule – October 2024

List of All Nobel Prize Winners:

 The Nobel Prize winners of 2024 are as follows:

 Field  Winners  Discovery  Awarded By  2023 Winner

 “for foundational discoveries

 The Royal  Pierre
 John Hopfield and inventions that enable
Swedish Agostini, Ferenc
 Physics (USA), Geoffrey machine learning with
Academy of Krausz and Anne
Hinton(UK) artificial neural networks”
Science L’Huillier

 David
 “for computational protein
Baker(USA)
design”
 The Royal  Moungi G.

Swedish Bawendi, Louis E.

 Chemistry
 Demis Academy of Brus and Alexei I.
 “for protein structure
Hassabis(UK) & Science Ekimov
prediction”
John

Jumper(USA)

 “for the discovery of

 Victor
microRNA and its role in  Katalin
 Physiology/ Ambros(USA),  The Karolinska
post-transcriptional gene Karikó and Drew
Medicine Gary Institute
regulation” Weissman
Ruvkun(USA)

 “for her intense poetic prose

 The Royal
that confronts historical
 Han Kang(South Swedish
 Literature traumas and exposes the  Jon Fosse
Korea) Academy of
fragility of human life”
Science

 Peace  Nihon  “for its efforts to achieve a  Norwegian Nobel

 Narges

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 Important Monthly Current Affairs Capsule – October 2024

Hidankyo(Japan) world free of nuclear Committee Mohammadi

weapons and for

demonstrating through

witness testimony that

nuclear weapons must

never be used again”

 Daron Acemoglu
(USA) ,  “for studies of how

 Economic  Simon institutions are formed and  Sveriges

 Claudia Goldin
Science Johnson(USA) & affect prosperity” Riksbank

James A.

Robinson(USA)

Overview of the 2024 Nobel Prize Announcements

● The Nobel Prize 2024 announcements began on October 7 with the award for Physiology or
Medicine, and will continue through October 14 across six categories:
o Physiology or Medicine: October 7, 2024
o Physics: October 8, 2024
o Chemistry: October 9, 2024
o Literature: October 10, 2024
o Peace: October 11, 2024
o Economic Sciences: October 14, 2024
2. 2024 Nobel Prize Winners:
o Nobel Prize in Physics 2024:
▪ John J. Hopfield and Geoffrey E. Hinton
▪ Awarded for their foundational discoveries in enabling machine learning with artificial
neural networks.
o Nobel Prize in Chemistry 2024:

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 Important Monthly Current Affairs Capsule – October 2024

▪ David Baker for computational protein design.

▪ Demis Hassabis and John M. Jumper for their breakthrough in protein structure prediction
using AI.
o Nobel Prize in Physiology or Medicine 2024:
▪ Victor Ambros and Gary Ruvkun for discovering microRNA and its role in post-
transcriptional gene regulation.
o Nobel Prize in Literature 2024:
▪ Han Kang, for her poetic prose confronting historical trauma and human fragility.
o Nobel Peace Prize 2024:
▪ Nihon Hidankyo, recognized for its efforts toward a nuclear-free world and advocacy
through survivor testimonies.
o Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel:
▪ Daron Acemoglu, Simon Johnson, and James A. Robinson for their studies on how
institutions shape prosperity.
3. Nobel Prize History:
o The Nobel Prizes were established following the death of Alfred Nobel, a Swedish inventor,
scientist, and businessman, who allocated his fortune for the creation of the prizes.
o Nobel's will outlined five prize categories: Physics, Chemistry, Physiology or Medicine, Literature,
and Peace.
o The Sveriges Riksbank Prize in Economic Sciences was later introduced in 1968.
4. The Nobel Prize for 2024 is valued at 11.0 million Swedish kronor (SEK) per full prize.
Nikita Porwal Crowned Femina Miss India World 2024
● Nikita Porwal, from Ujjain, Madhya Pradesh, has been crowned Femina Miss India World 2024.
● She will represent India in the Miss World contest.
● Rekha Pandey from Dadra and Nagar Haveli was the first runner-up, while Aayushi Dholakia from
Gujarat secured the second runner-up position.
● The 60th edition of the pageant featured 30 state winners, competing through fashion, talent, and
personality-driven rounds.
Indian Space Research Organisation Chairman S. Somanath honoured with the IAF World Space

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 Important Monthly Current Affairs Capsule – October 2024

Award for Chandrayaan-3 achievement

● Indian Space Research Organisation (ISRO) announced that its Chairman S. Somanath has

received the International Astronautical Federation’s (IAF) prestigious World Space Award for

Chandrayaan-3’s remarkable achievement.

● This recognition celebrates India's contributions to space exploration.

● Chandrayaan-3 mission by ISRO exemplifies the synergy of scientific curiosity and cost-effective

engineering, symbolising India’s commitment to excellence and the vast potential that space

exploration offers humanity.

● Chandrayaan-3 was launched July 6, 2023 from Sriharikota spaceport and it successfully made

the soft landing near the South Pole on August 23.

● Achieving a historic milestone, Chandrayaan-3 becomes the first to touch down near the lunar

South Pole, showcasing both aspiration and technological prowess on an international scale.

About ISRO :
● Formed : 15 August 1969

● Headquarters : Bengaluru, Karnataka

● Chairman : S. Somanath

European Parliament Awards Sakharov Prize to Venezuelan Opposition Leaders María Corina
Machado and Edmundo González
● The European Parliament has awarded its prestigious Sakharov Prize for Freedom of Thought to
María Corina Machado and Edmundo González, leaders of Venezuela's democratic opposition.
● This recognition honors their efforts to restore democracy and freedom in Venezuela amid political
repression.
● The Sakharov Prize, established in 1988, is named after Andrei Sakharov, a Soviet dissident and
Nobel laureate. It is the highest tribute the European Union pays to individuals or groups defending
human rights and fundamental freedoms.
● Past recipients include global figures like Nelson Mandela, Malala Yousafzai, and Denis Mukwege.
● The Sakharov Prize comes with an €50,000 ($54,000) endowment and will be formally presented in
mid-December at the European Parliament in Strasbourg, France.

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 Important Monthly Current Affairs Capsule – October 2024

● The award also highlights the international community's solidarity with those advocating for
democracy and human rights.
Sri Sri Ravi Shankar Awarded Fiji's Highest Civilian Honour
● The Republic of Fiji awarded Gurudev Sri Sri Ravi Shankar the prestigious title of “Honourary Officer
of the Order of Fiji,” its highest civilian recognition, in appreciation of his efforts to promote peace,
unity, and community upliftment worldwide.
● Fiji’s President, Ratu Wiliame M. Katonivere, presented this honor, and Sri Sri expressed gratitude
on social media, saying he was “Honoured to receive Fiji’s highest civilian award.”
Bibhab Kumar Talukdar Receives The Harry Messel Award for Conservation Leadership
● Bibhab Kumar Talukdar, a renowned conservation scientist from Assam, has been honored with The
Harry Messel Award for Conservation Leadership by the Species Survival Commission (SSC) of the
International Union for Conservation of Nature (IUCN).
● The award ceremony took place during the 5th IUCN SSC Leaders’ Meeting in Abu Dhabi, which
gathered over 300 conservation experts to discuss critical issues such as biodiversity loss and
climate change.

APPOINTMENTS & RESIGNATIONS

Justice Manmohan Sworn in as 32nd Chief Justice of Delhi High Court
● Justice Manmohan, 61 years old, took oath as the 32nd Chief Justice of the Delhi High Court.

● The oath was administered by Lieutenant Governor Vinai Kumar Saxena at the Raj Niwas, the

LG's secretariat.
● He Succeeded Justice Satish Chandra Sharma.

● The ceremony was attended by dignitaries, including Delhi Chief Minister Atishi.

SDGP Nalin Prabhat Appointed as Acting Director General of Police of Jammu and Kashmir Police
Effective from October 1st, 2024
● The Ministry of Home Affairs (MHA) appointed IPS officer Nalin Prabhat as Special Director

General Police (SDGP) of the Jammu & Kashmir Police.

● Nalin Prabhat will also assume the role of Director General of Police (DGP) for J&K effective

October 1, 2024.

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 Important Monthly Current Affairs Capsule – October 2024

● As DGP, he will be responsible for overseeing police operations and addressing security
challenges in Jammu & Kashmir.

● He succeeds R.R. Swain (IPS), who is set to retire upon reaching superannuation on September

30, 2024.

Subrata Mondal named as the new Managing Director and CEO of IFFCO Tokio General Insurance

● IFFCO Tokio General Insurance Company Limited (IFFCO Tokio), a general insurer, has

appointed a new Managing Director and Chief Executive Officer in Subrata Mondal.

● IFFCO Tokio General Insurance is a joint venture between the Indian Farmers Fertilisers Co-

operative (IFFCO) and Japan's Tokio Marine Group, with a shareholding structure of 51:49.

IL&FS names Nand Kishore as Chairman and Managing Director, succeeding CS Rajan
● Nand Kishore has been appointed as the Chairman and Managing Director (CMD) of

Infrastructure Leasing & Financial Services Limited (IL&FS), effective October 1, 2024.

● He succeeds CS Rajan, whose tenure as non-executive chairman ended on September 30, 2024.

● The appointment of Nand Kishore has been approved by the Ministry of Corporate Affairs.

About IL&FS :
● Established : 1987

● Headquarters : Mumbai, Maharashtra

Air Chief Marshal Amar Preet Singh assumes charge as Chief of the Air Staff
● Air Chief Marshal (ACM) Amar Preet Singh took over as the Chief of Air Staff (CAS) on October 1,

2024, succeeding Air Chief Marshal V. R. Chaudhari.

Surgeon Vice Admiral Arti Sarin appointed as the first female Director General of the Armed Forces
Medical Services
● Surgeon Vice Admiral Arti Sarin has become the first woman officer to take over as the Director

General of Armed Forces Medical Services (DGAFMS).

● The DGAFMS is responsible for overseeing medical policy matters related to the Indian Armed

Forces and operates under the Ministry of Defence.

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● Prior to her current role, she served as the 46th DGAFMS, and held prestigious positions
including:

➢ Director General of Medical Services (Navy)

➢ Director General of Medical Services (Air)

➢ Director & Commandant of Armed Forces Medical College (AFMC), Pune.

Government Appoints 3 New External Members Before Crucial Reserve Bank of India Monetary Policy
Committee Meeting

● The government appointed three new external members to the Monetary Policy Committee

(MPC):

➢ Prof. Ram Singh, Director of the Delhi School of Economics

➢ Saugata Bhattacharya, Economist

➢ Dr. Nagesh Kumar, Director and Chief Executive of the Institute for Studies in Industrial

Development

● The newly appointed members will serve a tenure of four years.

● The new members replace:

➢ Ashima Goyal (Mumbai Professor)

➢ Jayanth Varma (IIM-Ahmedabad Professor)

➢ Shashanka Bhide (Senior Adviser, New Delhi)

● The government has notified the reconstitution of the MPC under the Reserve Bank of India Act,

1934.
● As per the provisions of the RBI Act, the MPC consists of six members: three members from RBI

and three appointed by the central government.

● As per the powers conferred by Section 45ZB of the RBI Act, the government has reconstituted

the Monetary Policy Committee of RBI.

● As per the provisions, the MPC consists of six members, and the government can nominate three

members.

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 Important Monthly Current Affairs Capsule – October 2024

● The other three members are the governor of the Reserve Bank of India — chairperson, ex
officio; the deputy governor of the Reserve Bank of India, in charge of monetary policy —

member, ex officio; and one officer of the Reserve Bank of India to be nominated by the central

board — member, ex officio.

Claudia Sheinbaum inaugurated as Mexico's 1st female president in historic ceremony

● Claudia Sheinbaum was sworn in as Mexico's 66th president and the first woman to hold the

office.

● This marks a significant moment in Mexico’s history, occurring after over 200 years of

independence.

● Sheinbaum will serve a six-year term that will last until 2030.
● The swearing-in took place at the Legislative Palace of San Lázaro in Mexico City.

● During the ceremony, legislators shouted “Presidenta! Presidenta!” using the feminine form of

president for the first time in Mexico's history

● As a member of the Morena party, Sheinbaum is anticipated to follow the policies of her mentor,

Andrés Manuel López Obrador, the outgoing president.

About Mexico :
● Capital : Mexico City

● Currency : Mexican peso

Air Marshal SP Dharkar Takes Over as Vice Chief of Air Staff

● Air Marshal SP Dharkar has assumed charge as the Vice Chief of the Air Staff.

● He succeeded Air Chief Marshal Amar Preet Singh, who became the Chief of Air Staff on
September 30, 2024.

● As the Director General of the DSA, Dharkar was responsible for establishing the new

organization, which oversees all aspects of space exploitation in the military domain for the

Indian defense forces.

● Before his current appointment, he was serving as the Air Officer Commanding-in-Chief of the

Eastern Air Command.

About Indian Air Force :

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● Founded : 26 January 1950

● Headquarters : New Delhi, Delhi

● Vice Chief of the Air Staff (VCAS) : Air Marshal Sujeet Pushpakar Dharkar

● Deputy Chief of the Air Staff (DCAS) : Air Marshal Tejinder Singh

Goods and Services Tax Council forms 10-member GoM, headed by MoS Finance Pankaj Chaudhary

● The Goods and Services Tax (GST) Council has established a 10-member Group of Ministers

(GoM), chaired by Minister of State for Finance Pankaj Chaudhary, to review and make

recommendations on the taxation of luxury, sin, and demerit goods after the compensation cess

expires in March 2026.

● The GoM includes representatives from Assam, Chhattisgarh, Gujarat, Karnataka, Madhya

Pradesh, Punjab, Tamil Nadu, Uttar Pradesh, and West Bengal.

● The GoM is required to submit its report to the GST Council by December 31, 2024.

Government approves 1-year extension for RBI Deputy Governor Rajeshwar Rao
● The Appointments Committee of the Cabinet (ACC), chaired by Prime Minister (PM) Narendra

Modi, approved a one-year extension for Reserve Bank of India (RBI) Deputy Governor

Rajeshwar Rao from October 9, 2024.

● This is Rao's second one-year extension, with the first being granted in October 2023.
● His original appointment as Deputy Governor was in October 2020 for a three-year term.

Sanjeev Sanyal was appointed as new Chancellor of Gokhale Institute, Pune, succeeding Bibek Debroy
• Sanjeev Sanyal, an economist and member of the Economic Advisory Council to the Prime

Minister (EAC-PM), has been appointed as the new chancellor of Pune's Gokhale Institute of

Politics and Economics (GIPE).

• His term will begin on October 7, 2024, and last for five years.

• Bibek Debroy, chairperson of the EAC-PM, resigned from the chancellorship of GIPE amid

controversy over the removal of the institute’s Vice-Chancellor (V-C), Ajit Ranade.

About GIPE :

• Established : 1930

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• Location : Pune, India

Ministry of External Affairs Appoints Sanjeev Singla and Ajit Gupte as Ambassadors to France and
Germany
• Ajit Vinayak Gupte has been appointed as the next Ambassador of India to the Federal Republic

of Germany.

• Sanjeev Kumar Singla has been appointed as the next Ambassador of India to France.

About Ajit Vinayak Gupte:

• Batch: 1991 Indian Foreign Service (IFS) officer.

• Current Position: Ambassador of India to Egypt.

• Previous Role: Served as the Ambassador of India to the Kingdom of Denmark from November

2017 to March 2021.

• Transition: Expected to take up his new assignment in Germany shortly.

About Sanjeev Kumar Singla:

• Batch: 1997 Indian Foreign Service (IFS) officer.

• Current Position: Ambassador of India to Israel.

• Previous Role: Appointed as India's Ambassador to Israel on July 19, 2019, succeeding Pavan

Kapoor (1990 cadre IFS officer).

• Former Role: Served as Private Secretary to Prime Minister Narendra Modi.

Reserve Bank of India names Aviral Jain as Executive Director

• Aviral Jain has been appointed as Executive Director (ED) of the Reserve Bank of India (RBI)

effective from October 01, 2024.

• Prior to his appointment as ED, Jain served as the Regional Director for Maharashtra.

• Responsibilities: In his new role, Jain will oversee several crucial departments within the RBI,

including:

• Legal Department

• Premises Department

Zarin Daruwala, CEO of Standard Chartered India, is Set to Retire in April 2025

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 Important Monthly Current Affairs Capsule – October 2024

• Zarin Daruwala, Chief Executive Officer (CEO) of Standard Chartered India and Southeast Asia,
will retire on April 1, 2025, after serving more than 8 years in the role.

• Standard Chartered will announce her successor at a later date.

• Standard Chartered is undergoing management reshuffling and restructuring, especially in its

corporate and investment banking divisions, to enhance decision-making and business

performance.

JP Nadda appointed as Chairperson for the 77th Session of the WHO Regional Committee
• Union Health Minister JP Nadda was elected as the Chairperson of the 77th session of the World

Health Organization (WHO)’s Regional Committee for Southeast Asia.

• Role of the Committee: The WHO Regional Committee for Southeast Asia is the annual

governing body that influences health policies across the region.

• Participating Countries: Delegates from countries including Bangladesh, Bhutan, North Korea,

India, Indonesia, the Maldives, Myanmar, Nepal, Sri Lanka, Thailand, and Timor-Leste are

attending the session.

Indian Railway Finance Corporation Names Manoj Kumar Dubey as New Chairman and Managing
Director
• Manoj Kumar Dubey has been appointed as the Chairman & Managing Director (CMD) and Chief
Executive Officer (CEO) of the Indian Railway Finance Corporation (IRFC).

• His appointment is based on the recommendations of a Search-cum-Selection Committee.

• He succeeded an interim CMD role that had been in place for over two years.
• Dubey is a 1993-batch officer of the Indian Railway Accounts Service (IRAS).

• Prior to this role, he served as Director (Finance) at the Container Corporation of India

(CONCOR).

About IRFC :

• Founded: December 12, 1986.

• Headquarters: New Delhi, India.

• Type: Public sector undertaking (PSU) of the Government of India.

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• Ownership and Control:The Government of India holds a majority stake in IRFC.

Ratan Tata's Half-Brother Noel Tata Appointed as Chairman of Tata Trusts, Succeeding Ratan Tata
• Noel Tata, the half-brother of Ratan Tata, has been appointed Chairman of Tata Trusts, following

a board meeting held in Mumbai.

• He succeeds Ratan Tata who died at the age of 86 in a Mumbai hospital.

• Ratan Tata's passing marks the end of an era in Indian business, where he significantly reshaped

India's industrial landscape and transformed the Tata Group into a global powerhouse.

Bandhan Bank Shares Jump 10% Following Reserve Bank of India Approval of Partha Sengupta as
Chief Executive Officer
• The Reserve Bank of India (RBI) approved Partha Pratim Sengupta as the new Managing

Director and Chief Executive Officer (MD & CEO) of Bandhan Bank for a three-year term starting

from November 10, 2024.

• Sengupta will replace Chandra Shekhar Ghosh, who retired in July 2024.

• He has previously held leadership positions at State Bank of India (SBI) and served as CEO and

MD of Indian Overseas Bank (2020-2022).

About Bandhan Bank :

• Founded : 2015

• Headquarters : Kolkata, West Bengal, India

State Bank of India talent proves a valuable asset for private sector banks
● At least three former State Bank of India (SBI) executives have been appointed as managing
directors and chief executive officers (MD and CEO) of different private sector banks in the past

six months.

● Partha Pratim Sengupta: Recently approved as MD and CEO of Bandhan Bank; he will assume

charge in November 2024.

● Saleem Sulaiman Nair: Appointed as MD and CEO of Tamilnad Mercantile Bank in August 2024.

● Sanjeev Nautial: Took charge as MD and CEO of Ujivan Small Finance Bank (SFB) on July 1,

2024.

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 Important Monthly Current Affairs Capsule – October 2024

Surgeon Vice Admiral Kavita Sahai, SM, VSM Takes Over as Director General of Medical Services
● Surgeon Vice Admiral Kavita Sahai, SM, VSM assumed charge as Director General Medical

Services (Navy).

● In recognition for her distinguished Service, she has been awarded the Sena Medal in 2024 and

Vishisht Seva Medal in 2018 and has been Commended by the Chief of the Army Staff twice in

2008 & 2012 and the GOC-in-C (WC) in 2010.

About Ministry of Defence :

● Defence Minister :Rajnath Singh

● Minister of State : Sanjay Seth

Srinivas gets additional charge as Chief Executive Officer of public procurement portal GeM

● L. Satya Srinivas, a 1991-batch Indian Revenue Service (IRS) officer (Customs & Indirect Taxes),

has been appointed as the Chief Executive Officer (CEO) of the Government e-Marketplace

(GeM) on an additional charge basis.

Current Roles:
● He is currently serving as the Additional Secretary in the Department of Commerce, Government

of India.

● Srinivas is India’s Chief Negotiator for the India-EU and India-UK Free Trade Agreement (FTA)
negotiations.

● The Government e-Marketplace (GeM) portal was launched on August 9, 2016 by the Ministry of

Commerce and Industry, Government of India, to facilitate online purchases of goods and
services by all central government ministries and departments.

TV Narendran appointed as Chairman of worldsteel; becomes second Indian to lead the global
organisation
● Global body World Steel Association (worldsteel) has elected Tata Steel Managing Director (MD)

and Chief Executive Officer (CEO) Thachat Viswanath Narendran as its chairman.

● He is the second Indian to hold this position, following Sajjan Jindal of JSW Group, who served

as chairman in 2021.

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 Important Monthly Current Affairs Capsule – October 2024

● Vice Chair Elections:Ugur Dalbeler (Colakoglu Metalurji AS) and Leon Topalian (President and
CEO of Nucor Corporation) have been elected as Vice Chairs.

About World Steel Association :

● Founded : 10 July 1967

● Headquarters : Brussels, Belgium

● The World Steel Association members represent approximately 85% of the world's steel

production, comprising over 160 steel producers, national and regional steel industry

associations, and steel research institutes.

Amit Kumar Appointed as Chairman and Managing Director of AI Assets Holding Limited

● Amit Kumar was selected by the Public Enterprise Selection Board (PESB) for the role of

Chairman & Managing Director (CMD) of AI Assets Holding Limited (AIAHL), a Schedule ‘B’

Public Sector Undertaking (PSU).

● Kumar is currently serving as the Executive Director Asset Manager at ONGC (Oil and Natural

Gas Corporation).

● AI Assets Holding Limited is a Special Purpose Vehicle (SPV) established by the Government of

India to provide unified asset holding services, as outlined in its Memorandum of Association.

About AIAHL :
● Founded : January 22, 2018

● Headquarters : New Delhi, India

● Ownership: AIAHL is a Public Sector Undertaking that is 100% owned by the Government of

India.

Omar Abdullah Takes Oath as Chief Minister of Jammu & Kashmir; Surinder Kumar Choudhary
Appointed as Deputy Chief Minister
● Omar Abdullah took oath as the Chief Minister of Jammu and Kashmir marking his second term

as Chief Minister (CM).

● He previously served from 2009 to 2014.

● National Conference’s Surinder Kumar Choudhary was sworn in as the Deputy Chief Minister.

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 Important Monthly Current Affairs Capsule – October 2024

Nayab Singh Saini set to be sworn in as Haryana Chief Minister

● Nayab Singh Saini will be sworn in as the 20th Chief Minister of Haryana in Chandigarh.

● He was unanimously elected as the leader of the BJP legislature party in Haryana, paving the

way for his appointment as CM.

● The oath of office and secrecy will be administered by Haryana Governor Bandaru Dattatreya.

About Haryana :
● Governor : Bandaru Dattatreya

● Chief Minister : Nayab Singh Saini

● Capital : Chandigarh

Aishath Azeema appointed as the new Maldives Ambassador to India

● Senior diplomat Aishath Azeema is set to replace Ibrahim Shaheeb as the top Maldivian envoy to

India.

● The appointment comes after President Mohamed Muizzu's first state visit to India, indicating

efforts to reinforce ties with one of the Maldives' closest bilateral partners.

About Maldives :
● President : Mohamed Muizzu

● Capital : Malé

● Currency : Maldivian rufiyaa

Director General Paramesh Sivamani is the 26th Director General of the Indian Coast Guard (ICG)
● Paramesh Sivamani, who specialises in navigation and direction, has taken over as the 26th

director general of the Indian Coast Guard.

● Commands: Led major vessels, including:

o Advanced Offshore Patrol Vessel Samar

o Offshore Patrol Vessel Vishwast
MS Dhoni continues as brand ambassador and stakeholder of Garuda Aerospace

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 Important Monthly Current Affairs Capsule – October 2024

● MS Dhoni, former Indian cricket captain, announced that his association with Garuda Aerospace,
an IPO-bound drone company, continues to flourish.
● Dhoni, who is both a brand ambassador and stakeholder in the company, expressed his belief in
Garuda’s vision to make India a drone hub by 2030.
Chief Justice of India DY Chandrachud Recommends Justice Sanjiv Khanna as His Successor
● Chief Justice of India (CJI) D.Y. Chandrachud has recommended Justice Sanjiv Khanna as his

successor.

● The recommendation was made in a letter to the Ministry of Law and Justice.

● Justice Khanna is expected to become the 51st Chief Justice of India.

● His tenure is projected to last for six months, as he is set to retire on May 13, 2025.

● CJI Chandrachud is scheduled to retire on November 10, 2024.

Role of the Chief Justice of India:

● The CJI is the head of the judiciary and the Supreme Court of India.

● Appointed by the President of India under Article 124(2) of the Constitution.

Bima Sugam India Federation Names Prasun Sikdar as Its 1st Managing Director and Chief Executive
Officer

● Prasun Sikdar has been appointed as the first Managing Director & Chief Executive Officer (MD

& CEO) of the Bima Sugam India Federation for a three-year term.

● The appointment of the MD & CEO required approval from the Insurance Regulatory and

Development Authority of India (IRDAI) as per their regulations.

Vijaya Kishore Rahatkar was appointed as Chairperson of the National Commission for Women

● Smt. Vijaya Kishore Rahatkar has been appointed as the Chairperson of the National

Commission for Women (NCW).

● She will be the 9th Chairperson of NCW.

● The appointment made under Section 3 of the National Commission for Women Act, 1990, will

be for a period of three years or until she reaches the age of 65, whichever comes first.

About NCW :

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 Important Monthly Current Affairs Capsule – October 2024

● Establishment: Formed in 1992 under the National Commission for Women Act, 1990.
● Headquarters: New Delhi, India.

● Mandate: Work towards the advancement of women's rights, review constitutional and legal

safeguards for women.

Shri Vikram Dev Dutt, IAS Officer from the 1993 Batch (AGMUT Cadre), Takes Over as Coal Secretary

● Shri Vikram Dev Dutt, a 1993-batch Indian Administrative Service (IAS) officer of the Arunachal

Pradesh-Goa-Mizoram and Union Territory (AGMUT) cadre, has assumed charge as the

Secretary of the Ministry of Coal.

● Previously, he served as the Director General of the Directorate General of Civil Aviation (DGCA).

● He succeeds Shri VL Kantha Rao, the current Secretary of the Ministry of Mines, who held

additional charge 1of the Ministry of Coal.

About Ministry of Coal :

● Cabinet Minister : G. Kishan Reddy

● Minister of State : Satish Chandra Dubey

Centre Appoints New Chief of Staff Selection Commission in Major Restructuring

● S Gopalakrishnan, a 1991-batch IAS officer, has been appointed the new chairman of the Staff
Selection Commission (SSC).

● Gopalakrishnan will assume the role on October 31, 2024, following the voluntary retirement of

current chairman Rakesh Ranjan.

● Rakesh Ranjan was appointed in May 2023 and was initially set to retire in August 2026.

● Manoj Soni, the chairperson of the Union Public Service Commission (UPSC), resigned in July

2024, despite his term being until May 15, 2029.

Key Appointments:
● V Umashankar (1993-batch) has been appointed as Secretary in the Ministry of Road Transport

and Highways.

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 Important Monthly Current Affairs Capsule – October 2024

● Vikram Dev Dutt, previously Director General of the Directorate General of Civil Aviation (DGCA),
is now Coal Secretary.

● Tanmay Kumar, currently Special Secretary in the Ministry of Environment, Forest, and Climate

Change, will take over as Secretary in December 2024 after Leena Nandan's retirement.

● Subrata Gupta (1990-batch) will become Secretary of the Ministry of Food Processing Industries,

following the retirement of the current secretary, Anita Parveen.

About SSC :
● Formation : 4 November 1975

● Headquarters : New Delhi, India

Disney Appoints James Gorman as New Board Chairman

● James Gorman, currently an executive at Morgan Stanley, has been appointed as the new

chairman of The Walt Disney Company, effective January 2, 2025.

● Gorman will succeed Mark Parker as chairman, who is leaving after nine years on Disney's board.

About The Walt Disney Company :

● Founded : October 16, 1923

● Headquarters : California, United States

● CEO : Bob Iger

Prabowo Subianto Assumes Office as President of Indonesia

● Prabowo Subianto has assumed office as the President of Indonesia, marking his leadership of

the world's third-largest democracy.

● He is officially the eighth president of Indonesia, which is recognized as the world's most

populous Muslim-majority nation.

● Prabowo Subianto, aged 73, won the presidential election held on February 14, securing nearly

60% of the votes.

● His campaign included popular policies, such as providing free meals for school children.

About Indonesia :
● Capital : Jakarta

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 Important Monthly Current Affairs Capsule – October 2024

● Currency : Indonesian rupiah

PFRDA Appoints Chitra Jayasimha as Chairperson of National Pension System Trust Board

● Pension regulator Pension Fund Regulatory and Development Authority (PFRDA) has appointed

Chitra Jayasimha as the Chairperson of the Board of National Pension System (NPS) Trust with

effect from October 17, 2024.

● She has been serving as a Trustee of the NPS Trust since December 2020.

● Jayasimha took over from Venkata Rao Yadagani, who was appointed as Chairman in December

2023.

About NPS Trust :

➢ The NPS Trust is managed by a Board of Trustees, appointed by the PFRDA.

➢ It oversees the interests of NPS subscribers.

➢ The NPS is a voluntary, market-linked retirement savings scheme. Combined assets under

management (AUM) of NPS and Atal Pension Yojana (APY) stand at ₹13.40 lakh crore as of

October 2024.

➢ The members of the NPS Trust are appointed by the PFRDA from time to time.

➢ The NPS Trust Board meets every quarter to review operations, with the PFRDA appointing the

Chairperson from among its Trustees.

Hindustan Aeronautics Limited appoints Barenya Senapati as Director of Finance

● Hindustan Aeronautics Limited (HAL) has appointed Barenya Senapati as the Finance Director.
● Senapati is a fellow member of the Institute of Chartered Accountants of India (ICAI).

● Prior to his appointment as Finance Director, Senapati served as Finance Executive Director at

HAL’s corporate office.

About HAL :
2. Founded : 22 December 1940

3. Headquarters : Bengaluru, Karnataka, India

4. Chairman & MD : DK Sunil

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 Important Monthly Current Affairs Capsule – October 2024

Vietnam Names Army General Luong Cuong as New President Following Months of Turmoil

● Vietnam has elected Luong Cuong, a military general, as its new president, marking the fourth

official to hold the position in 18 months.

● The presidency is the second highest role in Vietnam's political structure, although it is largely

ceremonial.

● He replaced To Lam, who remained president even after being appointed as the general

secretary of the ruling Communist Party in August.

About Vietnam :
● Prime Minister : Phạm Minh Chính

● Capital : Hanoi

● Currency : Vietnamese đồng

Reserve Bank of India Grants Approval for Pranav Chawda to Become Chief Executive Officer of JP
Morgan Chase Bank India

● JP Morgan Chase Bank India has announced the elevation of Pranav Chawda as its Chief
Executive Officer (CEO).
● As CEO, Chawda's responsibilities will expand to include heading the corporate banking entity as
well.
● The former CEO, Prabhdev Singh, resigned in June before completing his term.
Reserve Bank of India Approves Axis Bank MD and CEO Amitabh Chaudhry’s Re-appointment
● Axis Bank has confirmed the re-appointment of Amitabh Chaudhry as Managing Director (MD)

and Chief Executive Officer (CEO) of the bank for another three years, starting from January 1,

2025, to December 31, 2027.

● The re-appointment was approved by shareholders at Axis Bank's 30th Annual General Meeting

in July.

● Ganesh Sankaran, Axis Bank's Group Executive in charge of the Wholesale Banking division,

has resigned to pursue other opportunities.

● His last working day with Axis Bank will be November 30, 2024.

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 Important Monthly Current Affairs Capsule – October 2024

About Axis Bank :

● Established : 3 December 1993

● Headquarters: Mumbai, Maharashtra, India

● MD & CEO: Amitabh Chaudhry

● Tagline : Badhti Ka Naam Zindagi

Justice Sanjiv Khanna Set to Be Sworn in as Chief Justice of India on November 11, 2024
● The Union government notified the appointment of Justice Sanjiv Khanna as the 51st Chief

Justice of India with effect from November 11, 2024.

● The appointment was made by the President of India under Clause (2) of Article 124 of the

Constitution.

● Chief Justice D.Y. Chandrachud, scheduled to retire on November 10, 2024, recommended

Justice Khanna as his successor on October 17, 2024.

International Crops Research Institute for the Semi-Arid Tropics Governing Board Appoints Himanshu
Pathak as Director-General Designate
● The Governing Board of the International Crops Research Institute for the Semi-Arid Tropics

(Icrisat) has appointed Himanshu Pathak as the Director -General Designate of the institute.

● Pathak, who currently serves as Union Secretary of the Department of Agricultural Research and

Education (DARE) and Director General of the Indian Council of Agricultural Research (ICAR),

will assume his role next year.

● Pathak will be the first Indian to head ICRISAT, a 52-year-old institute based in Patancheru near

Hyderabad.

● He will succeed Jacqueline Hughes in the role.

● He will be the second Indian to head a Consortium of International Agricultural Research Centres

(CGIAR) institute after M S Swaminathan, who led the Philippines-based International Rice

Research Institute (IRRI).

About ICRISAT :
➢ Formation : 1972

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 Important Monthly Current Affairs Capsule – October 2024

➢ The ICRISAT is an international organisation which conducts agricultural research for rural
development, headquartered in Patancheru, Hyderabad, Telangana, India.

Cabinet Committee Designates Permanent Managing Director for Agri Ministry's National Agriculture
Cooperative Marketing Federation of India Limited After Recent Interim Transfer to Cooperation Ministry
● The Appointments Committee of the Cabinet (ACC) appointed Deepak Agarwal as the regular

Managing Director (MD) of the National Agriculture Cooperative Marketing Federation of India

Limited (NAFED) for a term of five years.

● Deepak Agarwal is a 2000-batch Indian Administrative Service (IAS) officer from the Uttar

Pradesh cadre.

About NAFED :
● Founded : 2 October 1958

● Headquarters : New Delhi, India

● Chairman : Jethabhai Ahir

● NAFED plays a crucial role in agricultural marketing, supporting farmers by promoting

cooperative marketing and ensuring better prices for agricultural produce.

Indian-origin Prabhakar Raghavan appointed as Google’s new Chief Technologist

● Prabhakar Raghavan, an alumnus of the Indian Institute of Technology, Madras (IIT-Madras),

has been appointed as Google’s Chief Technologist.

● Nick Fox will succeed Raghavan in his previous role, managing Google Search, Assistant, and

related products.

Centre conducts bureaucratic reshuffle by appointing 29 joint secretaries

● The Centre appointed 29 officers as joint secretaries in different departments as part of a

significant bureaucratic reshuffle.

● Officers from various central services, including the Indian Defence Accounts Service (IDAS),

Indian Railway Service of Electrical Engineers (IRSEE), Indian Audit and Accounts Service

(IA&AS) and Indian Revenue Service (IRS) among others have been appointed to these key joint

secretary (JS)-level posts, as per an order issued by the Personnel Ministry.

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 Important Monthly Current Affairs Capsule – October 2024

Officer's Name Service/Cadre Designation Department/Ministry

Ministry of Home
Affairs

Praveen Kumar IDAS Joint Secretary Ministry of Home

Rai Affairs

Rakesh Kumar IDAS Joint Secretary Ministry of Home

Pandey Affairs

Rajesh Gupta IRSEE Joint Secretary Ministry of Home

Affairs

Raj Kumar IA&AS Director Central Reserve

(Finance) Police Force (CRPF),
Ministry of Home
Affairs

Economic and
Cooperative
Sectors

Deepak Agarwal IAS (Uttar Pradesh Managing National Agricultural

Cadre) Director (JS Cooperative
level) Marketing Federation
of India (NAFED)

Premjit Lal - Executive India Trade

Director Promotion
Organisation (ITPO)

Administrative and
Personnel
Management

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 Important Monthly Current Affairs Capsule – October 2024

Chauhan Sarita IAS Joint Secretary Department of

Chand Administrative
Reforms & Public
Grievances

P Bala Kiran IAS Joint Secretary Department of

Personnel & Training

Social Welfare and

Women
Empowerment

Bhavna Saxena IPS (Andhra CEO Central Adoption

Pradesh Cadre) Resource Authority
(CARA), Ministry of
Women & Child
Development

Petroleum,
Commerce, and
Corporate Affairs

Anjan Kumar IOFS Secretary Petroleum & Natural

Mishra Gas Regulatory
Board (PNGRB),
Ministry of Petroleum
& Natural Gas

Kesang Yangzom IRS (Income Tax Joint Secretary Department of

Sherpa Cadre) Commerce

Balamurugan D - Joint Secretary Ministry of Corporate

Affairs

Environment and

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 Important Monthly Current Affairs Capsule – October 2024

Agriculture

Rajat Agarwal - Joint Secretary Ministry of

Environment, Forest
& Climate Change

Ved Prakash - Joint Secretary Ministry of

Mishra Environment, Forest
& Climate Change

Rama Shankar - Joint Secretary Department of Animal

Sinha Husbandry & Dairying

Development of
North Eastern
Region

Niraj Kumar Central Secretariat Joint Secretary Ministry of

Service (CSS) Development of North
Eastern Region
(DoNER)

Bharti Airtel Names Gopal Vittal as Executive Vice Chairman; Shashwat Sharma to Assume Role of
Managing Director and Chief Executive Officer in January 2026
● Gopal Vittal has been promoted to Executive Vice-Chairman of Bharti Airtel, effective January 1,

2026.

● He will transition from his current role as Managing Director and Chief Executive Officer (MD &

CEO).

● Shashwat Sharma, the current Chief Operating Officer (COO), will be appointed as the MD and

CEO starting January 1, 2026.

About Bharti Airtel Limited :

● Founded : 7 July 1995

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 Important Monthly Current Affairs Capsule – October 2024

● Headquarters : New Delhi, India

Financial Services Institutions Bureau Nominates Ashok Chandra as New Managing Director and Chief
Executive Officer of Punjab National Bank
● The Financial Services Institutions Bureau (FSIB) recommended Ashok Chandra for the position

of Managing Director (MD) and Chief Executive Officer (CEO) of Punjab National Bank (PNB).

● The current MD & CEO of PNB, Atul Kumar Goel, will complete his tenure on December 31,

2024.

● Chandra is currently executive director (ED) at Canara Bank since November 21, 2022.

About PNB :
● Founded : 19 May 1894

● Headquarters : Dwarka, Delhi, India

● Tagline : The Name You Can Bank Upon

HSBC Appoints Pam Kaur, an Indian-Origin Banker, as Its First Female chief financial officer

● HSBC named Pam Kaur as its first female Chief Financial Officer (CFO), a landmark in the

bank’s 160-year history.

● Kaur, an Indian-origin banker, will officially begin her role on January 1, 2025.

Commonwealth appoints Ghana's Shirley Ayorkor Botchwey as new Secretary-General at Samoa

summit
● Ghana's Foreign Minister, Shirley Ayorkor Botchwey, has been appointed as the new Secretary-

General of the Commonwealth.

● The appointment occurred on the final day of the Commonwealth summit in Samoa.

ACQUISITIONS & MERGERS

Vistara to Merge with Air India on November 12, 2024 Concluding Nearly a Decade of Operations
● Vistara will merge with Air India on November 12, 2024 marking the end of Vistara's nearly

decade-long journey.

● The merger date follows the Centre's approval of Singapore Airlines' (SIA) ₹2,058 crore

investment in the Air India group.

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 Important Monthly Current Affairs Capsule – October 2024

● In November 2022, Tata Sons and Singapore Airlines announced plans to integrate Vistara with
Air India to enhance operational synergies and increase market share in the rapidly growing

Indian aviation sector.

● Stakeholder Information: Post-merger, SIA will retain a 25.1% stake in Air India as part of its

multi-hub strategy.

About Vistara :
● Founded : 2013 (Commenced Operations : 9 January 2015)

● Headquarters : Gurgaon, Haryana, India

● Chairman : Bhaskar Bhat

● CEO : Vinod Kannan

About Air India :

● Founded : 15 October 1932 (Commenced operations : 29 July 1946)

● Chairman : Natarajan Chandrasekaran

● MD & CEO : Campbell Wilson

Competition Commission of India greenlights Mankind Pharma Limited’s acquisition of Bharat Serums
and Vaccines Limited
● The Competition Commission of India (CCI) approved the acquisition of 100% shareholding of

Bharat Serums and Vaccines Limited (BSV) by Mankind Pharma Ltd (Mankind).

About CCI :
● Formed : 14 October 2003

● Headquarters : New Delhi, India

● Chairman : Ravneet Kaur

Amazon Acquires MX Player, Integrates it with miniTV to Launch Amazon MX Player

• Amazon has acquired free streaming OTT platform MX Player and merged it with its content

streaming service miniTV to launch 'Amazon MX Player'.

• The merger aims to provide premium-free entertainment to a broader audience.

• Automatic Integration: The integration of Amazon miniTV and MX Player will occur automatically

on the apps, with no need for users to reinstall or upgrade.

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 Important Monthly Current Affairs Capsule – October 2024

Reserve Bank of India grants approval for merger of Tata Capital and Tata Motors Finance
● The Reserve Bank of India (RBI) has approved the merger of Tata Capital, an unlisted entity,

with Tata Motors Finance (TMFL), paving the way for the formation of India’s 12th largest non-

banking finance company.

● The RBI sent its “no-objection” to both companies in October 2024, as per their regulatory filings.

● As part of the merger consideration, Tata Capital will issue equity shares to TMFL shareholders,

resulting in Tata Motors holding a 4.7% stake in the merged entity.

Competition Commission of India Greenlights Central Bank of India's 24.91% Acquisition in Future
Generali India Insurance
● The Competition Commission of India (CCI) has approved Central Bank of India's acquisition of

stakes in Future Generali India Insurance.

Acquisition Details:
● Central Bank of India will acquire:

➢ 24.91% equity stake in Future Generali India Insurance Company Limited (FGIICL).

➢ 25.18% equity stake in Future Generali India Life Insurance Company Limited (FGILICL).

About Central Bank of India:

● Founded: December 21, 1911.

● Headquarters: Mumbai, Maharashtra, India.

● Managing Director & CEO: Matam Venkata Rao.

● Type: Scheduled commercial bank.

About Future Generali India Insurance Company Limited (FGIICL):

● Founded: 2006.

● Headquarters: Mumbai, Maharashtra.

● Managing Director & CEO: Anup Rau.

● It provides personal insurance, commercial insurance, social & rural insurance etc.

● It provides savings insurance, investment plans (ULIP), term insurance plans, health insurance

plans, child plans, retirement plans, rural insurance plans and group insurance plans.

Kotak Mahindra Bank Agrees to Acquire ₹4,100-Crore Personal Loan Portfolio from Standard Chartered

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 Important Monthly Current Affairs Capsule – October 2024

Bank, India, Pending Regulatory Approval

➢ Private sector lender Kotak Mahindra Bank has entered into a definitive agreement to acquire the

₹4,100-crore personal loan book of Standard Chartered Bank, India, subject to regulatory

approval.

➢ The transaction consists of loans classified as ‘Standard Loans’ in line with the Reserve Bank of

India (RBI) guidelines.

➢ In 2022, Axis Bank acquired Citi India’s consumer and wealth management business.

About Kotak Mahindra Bank :

● Founded ; 1985

● Headquarters : Mumbai, Maharashtra, India

● MD and CEO : Ashok Vaswani

● Tagline : Let's make money simple

Adar Poonawalla acquires 50% stake in Dharma Productions from Karan Johar for ₹1,000 crore
● Adar Poonawalla, Chief Executive Officer (CEO) of Serum Institute of India, has announced a

₹1,000 crore investment in Karan Johar's Dharma Productions and Dharmatic Entertainment

through his company, Serene Production.

● The deal involves Poonawalla's Serene Production acquiring a 50% stake in Dharma Productions,

while Karan Johar will retain the remaining 50%.

CCI Greenlights Aquilo House Private. Limited.'s Acquisition of Aavas Financiers Limited
● The Competition Commission of India (CCI) has approved the proposed acquisition of Aavas

Financiers Limited by Aquilo House Private. Limited.

● Acquirer: Aquilo House Pte. Ltd., the acquiring entity, is wholly and indirectly held by Relevant

CVC Funds, which are investment vehicles managed or advised by the CVC Network (CVC

Capital Partners plc and subsidiaries).

● CVC Group: The CVC Network is a global alternative investment manager with expertise in

private equity, credit, secondaries, and infrastructure investments. CVC PLC is listed on the

Euronext Amsterdam Stock Exchange.

About CCI :

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 Important Monthly Current Affairs Capsule – October 2024

● Founded : 14 October 2003

● Headquarters : New Delhi, India

● Chairman : Ravneet Kaur

● The CCI is the chief national competition regulator in India.

● It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the

Competition Act, 2002 to promote competition and prevent activities that have an appreciable

adverse effect on competition in India.

Manipal HealthMap completes full acquisition of iGenetic Diagnostics, aims for 200 centres by 2027
● Manipal HealthMap has acquired iGenetic Diagnostics, securing a 100% stake in the company.

● This acquisition aims to enhance Manipal HealthMap's market presence, particularly in

Maharashtra, Madhya Pradesh, and Karnataka.

● Regulatory Approval:The merger has received approval from the National Company Law Tribunal

(NCLT), enabling the transaction to proceed.

Competition Commission of India Gives Nod to Fortis Healthcare's Acquisition of More Shares in Agilus

Diagnostics Limited

● The Competition Commission of India (CCI) approved Fortis Healthcare Limited’s (FHL)

acquisition of an additional 31.52% share capital in Agilus Diagnostics Limited.

● After the proposed acquisition, Fortis Healthcare’s shareholding in Agilus will increase from 57.68%

to 89.2%.

Competition Commission of India Greenlights Merger of Diliigent Power with DB Power and

Restructuring of Decore Thermal Power Following Buyback

● The Competition Commission of India (CCI) has granted approval for a proposed combination

involving significant corporate restructuring in the power sector.

● Proposed Combination Details:The combination includes the merger of Diliigent Power Private

Limited (DPPL) into its wholly owned subsidiary, DB Power Limited (DBPL).

Competition Commission of India approves the proposed acquisition of additional stake in Thoughtworks

Holding, Inc. by AP Funds and Temasek

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 Important Monthly Current Affairs Capsule – October 2024

● The Competition Commission of India (CCI) has approved the proposed acquisition involving
additional shareholding in Thoughtworks Holding, Inc.

● Tasmania Midco LLC (Acquirer) is a special purpose vehicle (SPV) that is indirectly wholly owned

by Apax Partners LLP (AP), which provides investment advisory services to private equity funds

Slice and North East Small Finance Bank Complete Merger One Year After Reserve Bank of India

Approval

● Slice has successfully completed its merger with North East Small Finance Bank, consolidating

operations, assets, and brand identities.

● The merger received all necessary shareholder and regulatory approvals, including a no-

objection certificate (NOC) from the Reserve Bank of India (RBI).

● The merger was finalized over one year after receiving the RBI's NOC.

● The merged entity aims to enhance its presence in India's north-eastern region, focusing on local

market penetration and service expansion.

About North East Small Finance Bank :

● Established : 2015

● Headquarters : Guwahati, Assam

● MD & CEO : Satish Kumar Kalra

CURRENT AFFAIRS : PERSON IN NEWS

Women Navy Officers Lt Cdr Dilna K. and Lt Cdr Roopa Set Sail for Global Circumnavigation Under
Navika Sagar Parikrama II
● Indian Navy is launching the second edition of the Navika Sagar Parikrama expedition, aimed at

circumnavigating the globe.

● The expedition will begin on October 2, 2024.

● Participants: Two women officers, Lt Cdr Roopa A from Puducherry and Lt Cdr Dilna K from

Calicut, will embark on this historic voyage.

● The officers will sail on the Indian Naval Sailing Vessel (INSV) Tarini, a 55-foot indigenously built

sailing vessel inducted into the Navy in February 2017

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 Important Monthly Current Affairs Capsule – October 2024

● The expedition was introduced at a curtain raiser event held on September 23, 2024, presided
over by Vice Admiral Krishna Swaminathan, Vice Chief of Naval Staff.

● The expedition is conducted under the aegis of the Indian Naval Sailing Association at Naval

Headquarters, New Delhi, and the Ocean Sailing Node, Goa, coordinating with international

maritime agencies and authorities.

● The first edition of Navika Sagar Parikrama occurred from September 2017 to May 2018, with six

women officers covering about 22,000 nautical miles and visiting five countries: Australia, New

Zealand, Falkland Islands (U.K.), South Africa, and Mauritius.

● Cdr Abhilash Tomy (Retd.): First Asian skipper to participate in two circumnavigations and

completed the Golden Globe Race in 2022; he is also the official mentor for the current

expedition officers.

● About INSV Tarini : It is a 55-foot sailing vessel, which has been built indigenously, and was

inducted into the Navy in February 2017.

About Ministry of Defence :

● Defence Minister : Rajnath Singh

● Minister of State : Sanjay Seth

Sunita Williams Assumes Command of the International Space Station for the 2nd Time

● National Aeronautics and Space Administration (NASA) astronaut Sunita Williams has assumed

command of the International Space Station (ISS), marking her second stint as the station’s

leader.
● She previously served as commander during Expedition 33 in 2012.

● Sunita Williams has logged over 322 days in space and holds the record for the most spacewalks

by a woman.

About NASA :
● Established : July 29, 1958

● Headquarters : Washington, D.C, United States of America

● Administrator : Bill Nelson

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 Important Monthly Current Affairs Capsule – October 2024

MOUS AND AGREEMENT

Tata Power Expands Renewable Energy Footprint in Rajasthan: Key MoU with State Government
● Tata Power has signed a Memorandum of Understanding (MoU) with the Rajasthan government to
advance power distribution, transmission, and green energy projects, significantly boosting its
renewable energy presence in the state.
● This agreement was signed at the 'Rising Rajasthan Investor Meet' in New Delhi.
Rajasthan Attracts Investment with Rs 12.5 Trillion in MoUs Ahead of Global Summit
● Rajasthan Chief Minister Bhajan Lal Sharma announced that investment agreements (MoUs) worth
Rs 12.5 trillion have been signed during roadshows in Mumbai and Delhi, paving the way for the
upcoming “Rising Rajasthan” global investment summit, scheduled for December 9-11 in Jaipur.
Ashok Leyland Partners with FlixBus India to Transform Inter-City Bus Transportation
● Ashok Leyland, a leading commercial vehicle manufacturer and flagship of the Hinduja Group, has
signed a Memorandum of Understanding (MoU) with FlixBus India, a global travel-tech leader
focused on affordable and sustainable travel.
● This collaboration aims to revolutionise India’s bus transportation ecosystem through advanced
technology and high-capacity vehicles.
● The MoU was signed by Mr. Mohan K, Head – Bus Vertical at Ashok Leyland, Mr. Max Zeumer,
COO of FlixBus, and Mr. Surya Khurana, MD of FlixBus India.
BPCL Partners with Mumbai Port Authority for Green Fuel Ecosystem
● State-owned Bharat Petroleum Corporation Limited (BPCL) has signed an initial Memorandum of
Understanding (MoU) with the Mumbai Port Authority (MbPA) and the Mumbai Port Sustainability
Foundation (MPSF) to establish a green fuel ecosystem at Mumbai Port.
● This initiative marks a significant step in India's journey towards cleaner energy solutions.
India, Nepal and Bangladesh Sign Trilateral Agreement for Electricity Export
● India, Nepal and Bangladesh have entered into a trilateral agreement that enables the export of 40
megawatts of electricity from Nepal to Bangladesh via India’s power grid.
● This landmark deal, signed in Kathmandu, marks the first instance of Nepal selling electricity to
Bangladesh, as it has previously only exported power to India.

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 Important Monthly Current Affairs Capsule – October 2024

Google Partners with Clean Max to Launch Hybrid Renewable Energy Project
● Google has announced a strategic partnership with Clean Max Enviro Energy Solutions (CleanMax)
to establish a 125.4 MW hybrid renewable energy project in India.
● This initiative aims to enhance Google’s efforts in decarbonising its cloud services and office
operations in the country.
Key Details of the Partnership
● Project Components:
o Solar Power: The project will include a 66 MW solar power plant located in Rajasthan.
o Wind Energy: Additionally, a 59.4 MW wind generation plant will be established in
Karnataka.
MoU Between Amazon and Department of Posts (DoP): Strengthening E-commerce and Logistics in

India

• Amazon and the Department of Posts (DoP) have been collaborating since 2013, utilizing DoP’s

extensive postal network for parcel delivery.

• This partnership aims to empower India's growing e-commerce sector by enhancing logistical

capabilities, supporting job creation, and contributing to economic growth.

• The MoU aims to explore opportunities in logistics and business expansion, allowing Amazon to

leverage DoP’s network for parcel delivery across India.

NCERT Partners with Amazon for Nationwide Textbook Distribution

• The National Council of Educational Research and Training (NCERT) has joined with Amazon to

enhance textbook accessibility across India, particularly targeting remote areas.

• The initiative, announced by Education Minister Dharmendra Pradhan, addresses textbook

distribution challenges and ensures that all students have easy access to authentic NCERT

materials.

• NCERT is developing interactive, AI-driven e-books as part of its move towards a digital learning

environment, adapting to modern educational needs.

Bihar Government Signs MoU with NASSCOM to Boost IT Sector

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 Important Monthly Current Affairs Capsule – October 2024

• The Bihar government signed a Memorandum of Understanding (MoU) with the National
Association of Software and Service Companies (NASSCOM) to promote the state's IT policy

and investment potential.

• Bihar IT Minister Santosh Kumar Suman and NASSCOM Vice Presidents Srikanth Srinivasan

and Nirupam Choudhary attended the signing.

• The partnership aims to enhance IT infrastructure, attract investment, and promote skill

development in Bihar.

• NASSCOM will assist in organizing roadshows in major cities such as Bengaluru, Chennai,
Mumbai, Hyderabad, and Pune to link Bihar with potential investors and technology companies.

India and Maldives Strengthen Ties with Financial Support and New Initiatives

• India has committed over ₹6,300 crore to support the Maldives amid a foreign exchange crisis,

marking a significant step in bilateral relations as Maldivian President Mohamed Muizzu engages

in discussions with Prime Minister Narendra Modi for a reset of ties.

• Financial Support: The agreement includes a currency swap arrangement worth $400 million and

₹3,000 crore, aimed at addressing the Maldives' foreign exchange issues.

• Trade Agreement Talks: Discussions were initiated on a free trade agreement to enhance

economic cooperation and trade settlements in local currencies.

Tata Technologies and BMW Group Launch BMW TechWorks India: A New Venture in Automotive

Software Innovation

• Tata Technologies and BMW Group have launched a joint venture named BMW TechWorks

India.

• The venture focuses on developing automotive software and digital transformation solutions for

business IT.

• Both companies hold equal stakes in the venture.

• BMW TechWorks will design software for software-defined vehicles (SDV) and enable the

integration of AI and Generative AI technologies in BMW cars.

India to Ink $3.3 Billion Contract with US for MQ-9B Predator Drones

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 Important Monthly Current Affairs Capsule – October 2024

● India is set to sign a major $3.3 billion (Rs 28,000 crore) defence deal with the United States for 31
MQ-9B Predator drones.
● This acquisition is part of India's growing defence partnership with the US, which has secured over
$25 billion in Indian defence contracts in less than two decades.
● The MQ-9B Predator is a high-altitude, long-endurance drone designed for intelligence, surveillance,
reconnaissance (ISR) missions and precision strikes.
Spices Board partners with Uttarakhand Govt to boost production of Indigenous spices
● The Spices Board of India, under the Ministry of Commerce & Industry, has signed a Memorandum
of Understanding (MoU) with the Directorate of Horticulture and Food Processing, Government of
Uttarakhand, to promote sustainable agricultural practices in the state.
● The agreement was signed by Dr. A B Remashree, Director of Spices Board, during the Industry
Interaction Meet held in Dehradun, in the presence of Sunil Barthwal, Secretary, Department of
Commerce.
India-Australia and ASEAN Trade Negotiations Intensify Towards Comprehensive Economic
Cooperation Agreement (CECA)
● India is ramping up its trade negotiations with Australia and ASEAN to finalize key trade agreements
and address tariff asymmetries, aiming to strengthen its international economic ties before election
cycles in partner countries potentially delay progress.
● The 9th round of negotiations on the India-European Union FTA has been completed, focusing on
core trade issues such as goods, services, investment, government procurement, and rules of origin
(ROO).
China-Pakistan Strengthen Ties with Gwadar Airport Inauguration
● Chinese Premier Li Qiang inaugurated the Gwadar International Airport in Pakistan's Balochistan
province, marking a significant step in the ongoing China-Pakistan Economic Corridor (CPEC)
project.
● The $200-million Beijing-funded airport was opened in a ceremony at Pakistan's Prime Minister's
Office in Islamabad, emphasising its strategic importance.
India Strengthens Defence Capabilities with $4 Billion MQ-9B Predator Drone Deal

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 Important Monthly Current Affairs Capsule – October 2024

● India has taken a major step in enhancing its military capabilities by signing a $4 billion deal with the
United States to acquire 31 MQ-9B Predator drones.
● This landmark agreement, finalized on October 15, 2024, in New Delhi, marks a significant
advancement in India’s defence preparedness, particularly in countering threats along its borders
with China.
Renewal of the Kartarpur Corridor Agreement Between India and Pakistan
● India and Pakistan have renewed their agreement to operate the Kartarpur Corridor for an additional
five years, extending its validity until October 24, 2029.
● This follows the original agreement established in 2019, which was set to expire on October 24,
2024.
● The corridor enables Indian pilgrims to visit Gurdwara Sri Kartarpur Sahib in Pakistan without a visa,
requiring only a nominal fee of $20 per person.
Delhi Signs MoU with Education Ministry to Implement PM-SHRI Scheme
● Delhi's State Government signed a Memorandum of Understanding (MoU) with the Ministry of
Education to implement the PM-SHRI (Prime Minister’s Schools for Rising India) scheme.
● Launched two years ago, the PM-SHRI scheme aims to convert over 14,500 schools into exemplar
institutions across India.
● The scheme spans five years with a budget of ₹27,360 crore, wherein the Centre provides 60% of
the funding, and states contribute the remaining 40%.
● In northeastern states, the Centre will cover 90% of the costs.
Air India and Singapore Airlines Expand Codeshare Agreement
● Air India (AI) and Singapore Airlines (SIA) have announced an expanded codeshare agreement,
adding 11 Indian cities and 40 international destinations to their network.
● This marks their largest codeshare expansion since 2010, enhancing connectivity between India,
Singapore, and other global destinations.
● Under this agreement, both airlines will codeshare on flights between Singapore and Bengaluru and
Chennai, increasing weekly services from 14 to 56.
DroneAcharya Partners with Estonia's Krattworks to Boost Defence Drone Manufacturing in India

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 Important Monthly Current Affairs Capsule – October 2024

● DroneAcharya Aerial Innovations Limited has entered into an exclusive partnership with Krattworks
Ltd., an Estonian defence drone manufacturer, to produce and distribute defence drones in India.
● This collaboration aligns with the "Make in India" initiative and aims to cater to both Indian and global
markets through local production.
● The collaboration will focus on manufacturing jamming-resistant tactical ISR drones with day and
night vision capabilities, as well as fixed-wing aerial target drones for defence applications.
● Krattworks is known for its Project BadB, which develops navigation solutions for vehicles in GNSS-
denied environments. The project recently received a $6 million investment from the European
Defence Fund and the Defence Ministries of Estonia and Finland.
YouTube Expands Shopping Programme in India to Empower Creators
● YouTube has launched its Shopping Affiliate Programme in India, allowing content creators to
monetize their videos by tagging products from major e-commerce platforms like Flipkart and Myntra.
● This initiative is aimed at diversifying creators' revenue streams and enhancing the shopping
experience for viewers.
Karnataka and University of South Wales Forge Partnership for Clean Energy Innovation
● Karnataka Renewable Energy Development Limited (KREDL) has signed a Memorandum of
Understanding (MoU) with the University of South Wales (UNSW) in Australia to promote innovation
and support start-ups focusing on clean and renewable energy technologies.
● This partnership aims to accelerate the transition to sustainable energy and enhance collaboration
between Karnataka and Australian institutions.
India and Germany Strengthen Bilateral Relations with Multiple MoUs
● India and Germany have signed several Memoranda of Understanding (MoUs) and agreements
aimed at enhancing cooperation across various sectors, including green hydrogen, innovation, and
technology.
● The agreements were formalized in New Delhi during a meeting between Prime Minister Narendra
Modi and German Chancellor Olaf Scholz following delegation-level talks.
● According to Foreign Secretary Vikram Misri, bilateral trade between India and Germany reached
$33 billion in 2023, with cumulative German investments in India totalling nearly $15 billion.
GAIL and VERBIO Collaborate to Advance Agricultural Residue-based Compressed Biogas (CBG)

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 Important Monthly Current Affairs Capsule – October 2024

Projects in India
● GAIL (India) Limited and VERBIO India Private Limited have signed an MoU to explore the
development of Compressed Biogas (CBG) plants using agricultural residue in India.
● The MoU was signed with the presence of Sandeep Kumar Gupta, Chairman and Managing Director
of GAIL, and Claus Sauter, Founder and CEO of VERBIO Group.
● Sumit Kishore, Executive Director (Business Development and Exploration & Production), GAIL, and
Ashish Kumar, Managing Director, VERBIO, signed the MoU.
● Goal: To combine expertise from both companies to promote sustainable energy solutions and
efficiently use agricultural waste.
ISRO and DBT Collaborate on Experiments for India’s First Space Station: Bharatiya Antariksh Station
(BAS)
● The Indian Space Research Organisation (ISRO) and the Department of Biotechnology (DBT) have
signed an agreement to develop and conduct biological and environmental experiments for the
planned Bharatiya Antariksh Station (BAS), expected to be operational by 2028-2035.
● Focus is on exploring health and sustainability factors in space, which are crucial for future long-term
missions.
India-Switzerland Railway Cooperation MoU: Strengthening Technical and Operational Capabilities
● Indian Railways has renewed a Memorandum of Understanding (MoU) with Switzerland’s Federal
Department of the Environment, Transport, and Communications (DETEC) to enhance technical
cooperation in railway technology and infrastructure.
● This partnership, approved by India’s Ministry of Railways and Ministry of External Affairs, aims to
improve railway services in India through technology sharing and expertise from Switzerland.
Key Areas of Focus:
● Traction Rolling Stock and Electric Multiple Units (EMU)
● Train Sets and Propulsion Equipment
● Freight and Passenger Cars
● Tilting Trains and Railway Electrification Equipment
● Train Scheduling and Operational Improvements
● Railway Station Modernization

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 Important Monthly Current Affairs Capsule – October 2024

● Multimodal Transport Solutions and Tunneling Technology

DEFENCE NEWS
8th Edition of India-Kazakhstan Joint Military Exercise KAZIND 2024 Begins in Auli , Uttarakhand
● The 8th edition of the India-Kazakhstan Joint Military Exercise KAZIND-2024 began on

September 30, 2024, at the Surya Foreign Training Node in Auli, Uttarakhand.

● The exercise is scheduled to take place from September 30 to October 13, 2024.

● KAZIND has been conducted annually since 2016, promoting military cooperation between India

and Kazakhstan.

● The last exercise was held in Otar, Kazakhstan, from October 30 to November 11, 2023.

Participants:
● Indian Armed Forces: Represented by 120 personnel from a battalion of the KUMAON Regiment,

along with additional arms, services, and Indian Air Force personnel.

● Kazakhstan Contingent: Mainly composed of personnel from the Land Forces and Airborne

Assault Troopers.

● Aim of the Joint Exercise : To enhance joint military capability of both sides to undertake counter

terrorism operations in a sub conventional scenario under Chapter VII of the United Nations

Charter.

About Ministry of Defence :

● Cabinet Minister : Rajnath Singh

● Minister of State : Sanjay Seth

Indian Army Hosts "Army Sports Conclave" to Showcase Its Role in Enhancing India's Sports for the

2036 Olympics

● The Indian Army hosted the "Army Sports Conclave" to highlight its contribution to India's sports

and align efforts for the 2036 Olympics.

● Collaboration: The conclave stressed collaboration with key stakeholders like the Indian

Olympics Association, Sports Authority of India (SAI), and National Sports Federations to

enhance India’s global sporting ambitions.

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 Important Monthly Current Affairs Capsule – October 2024

● Indian Army's Role: The Indian Armed Forces have a tradition of contributing to India's
international sports achievements (e.g., Asian Games and Olympics) and play a significant role in

promoting national pride and fitness through sports.

About Indian Army :

● Chief of the Army Staff (COAS) : General Upendra Dwivedi

● Vice Chief of the Army Staff (VCOAS) : Lieutenant General N. S. Raja Subramani

Aero India is Scheduled to Take Place in Bengaluru on February 10, 2025

● India will host the 15th edition of its largest air show, Aero India, at Yelahanka Air Force Station

in Bengaluru, Karnataka, from February 10 to February 14, 2025.

● The event will feature participation from leading Indian and foreign manufacturers and several

delegations from friendly foreign countries.

● Many fighter aircrafts and helicopters performed on air and a defence exhibition was inaugurated

by PM Narendra Modi.

● IAF's Tejas aircraft which is a lightweight, highly agile and multi-role supersonic fighter was a

major highlight in the aero India show in 2023.

● Aero India is organised by the Ministry of Defence which involves multiple agencies, including the

Department of Defence Production, IAF, Hindustan Aeronautics Limited (HAL), Defence

Research and Development Organisation (DRDO), Department of Space, and the Union Civil

Aviation Ministry.

● Aero India 2023 Statistics:The 14th edition was inaugurated by PM Modi and centered around

the theme "The Runway to a Billion Opportunities".

● A total of 809 exhibitors participated, including 110 foreign exhibitors and 699 Indian exhibitors.

● The first edition of the air show was held in 1996

Third 25T Bollard Pull Tug, Ashva, Launched by Commodore Ajay Yadav at Titagarh Rail Systems
Limited, Kolkata
● The third 25T Bollard Pull (BP) Tug, Ashva (Yard 337), was launched by Commodore Ajay Yadav,

Naval Officer-in-Charge (West Bengal), at M/s Titagarh Rail Systems Limited, Kolkata.

● Ashva is a key product of the "Make in India" and "Atmanirbhar Bharat" initiatives.

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● Built under a contract with M/s Titagarh Rail Systems Limited (TRSL) for six 25T BP Tugs.
17th Meeting of India-Germany Military Cooperation Sub Group Conducted in Berlin
● The 17th edition of the India-Germany Military Cooperation Sub Group (MCSG) meeting took

place on October 1-2, 2024, in Berlin, Germany.

● The MCSG is a forum established to boost defence cooperation between both nations through

regular talks at the strategic and operational levels between Headquarters, Integrated Defence

Staff, and the Department of International Cooperation Armed Forces, Germany.

● Participants:The Indian side was co-chaired by the Deputy Assistant Chief of Integrated Defence

Staff for International Defence Cooperation.

● The German side was represented by the Deputy Director of the Department of International
Cooperation, Armed Forces Office.

Defence Research and Development Organisation successfully conducts flight test of 4th Generation
Very Short Range Air Defence System at Pokhran Firing Ranges, Rajasthan
● The Defence Research and Development Organisation (DRDO) successfully conducted three

flight-tests of the 4th Generation, technically advanced miniaturised Very Short Range Air

Defence System (VSHORADS) at the Pokhran Field Firing Ranges in Rajasthan on October 03 &

04, 2024.
● The tests were carried out against high-speed target, demonstrating very critical parameters of

maximum range and maximum altitude interception.

● VSHORADS is a Man Portable Air Defence System (MANPADS) designed and developed
indigenously by Research Centre Imarat (RCI), Hyderabad, Telangana in collaboration with other

DRDO laboratories and DcPPs.

● It is intended to replace the legacy Igla systems in the Indian Army.

About DRDO :
● Established : 1958

● Headquarters : New Delhi, India

● Chairman : Sameer V. Kamat

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 Important Monthly Current Affairs Capsule – October 2024

Malabar Maritime Exercise 2024 to be held from October 8 to 18, starting with Harbour Phase in
Visakhapatnam, followed by Sea Phase
• Maritime Exercise Malabar 2024 is scheduled to take place from 08 to 18 October 2024,

beginning with the Harbour Phase in Visakhapatnam, followed by the Sea Phase.

• Hosted by India, this year’s exercise will see the participation of Australia, Japan, and the United

States of America.

• Exercise Malabar originated in 1992 as a bilateral naval drill between the United States and the

Indian Navy.

About Ministry of Defence ;

• Defence Minister : Rajnath Singh

• Minister of State : Sanjay Seth

Indian Army Launches First Upgraded T-90 ‘Bhishma’ Tank

• The Indian Army rolled out its first overhauled T-90 ‘Bhishma’ tank, a step towards ensuring the

operational readiness of its armoured formations.

• The overhaul involved completely disassembling the tank and rebuilding it, with over 200

assemblies and sub-assemblies reworked.

• The overhaul, part of the Army's "Decade of Transformation" initiative, was witnessed by General

Upendra Dwivedi, Chief of the Army Staff.

About Indian Army :

• Founded : 26 January 1950

• Headquarters : New Delhi

• Chief of the Army Staff (COAS) : General Upendra Dwivedi

• Vice Chief of the Army Staff (VCOAS) : Lieutenant General N. S. Raja Subramani

DefConnect 4.0: Defence Minister launches ADITI 2.0 challenges and DISC 12 to promote innovation,
entrepreneurship, and self-reliance in defence
• Union Defence Minister Shri Rajnath Singh launched the second edition of Acing Development of

Innovative Technologies with iDEX (ADITI 2.0) challenges and the 12th edition of Defence India

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 Important Monthly Current Affairs Capsule – October 2024

Start-up Challenges (DISC 12) during DefConnect 4.0 at Manekshaw Centre, Delhi Cantt. on
October 07, 2024.

• ADITI 2.0 features 19 challenges from the Armed Forces and allied agencies in the domains of

Artificial Intelligence (AI), Quantum Technology, military communication, anti-drone systems

customised for military platforms and adaptive camouflage, etc.

Garden Reach Shipbuilders & Engineers hands over the second Survey Vessel, INS Nirdeshak, to
the Indian Navy
● Nirdeshak, the second of four Survey Vessel (Large) ships, was delivered to the Indian Navy on

October 8, 2024.

● It was built by Garden Reach Shipbuilders & Engineers (GRSE), Kolkata, and designed by the

Indian Navy's Warship Design Bureau.

● The first ship of the SVL class, INS Sandhayak, was commissioned on February 3, 2024.

● INS Nirdeshak is the second in a series of four such vessels being constructed by GRSE, with

the first delivered to the Navy 10 months ago in December 2023.

● These are the largest survey vessels for the Indian Navy to be built in the country.

About GRSE :
● Founded : 1884

● Headquarters : Kolkata, West Bengal, India

● Chairman & MD : Cmde PR Hari

About Ministry of Defence :

● Cabinet Minister : Rajnath Singh

● Minister of State : Sanjay Seth

Hindustan Aeronautics Limited Achieves Maharatna Status, Becoming the 14th Central Public Sector
Enterprise Recognized by the Government of India
● Hindustan Aeronautics Limited (HAL) has been upgraded to Maharatna status, becoming the

14th Central Public Sector Enterprise (CPSE) to receive this classification in India.

● This upgrade marks a significant achievement for HAL, enhancing its role in the Indian

aerospace and defence sector.

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 Important Monthly Current Affairs Capsule – October 2024

● The upgrade was approved by the Finance Minister, following recommendations from:
➢ Inter-Ministerial Committee (IMC) led by the Finance Secretary.

➢ Apex Committee headed by the Cabinet Secretary.

➢ The Government of India introduced the ‘Navratna’ scheme in 1997 to identify and support

CPSEs with competitive advantages.

Criteria for Maharatna Status:

● Prior Navratna Status: The company must have previously been conferred Navratna status.

● Stock Market Listing: The company must be listed on the Indian stock exchange and comply with

SEBI regulations.

● Financial Performance:
○ Average annual turnover of over ₹25,000 crore in the last three years.

○ Average annual net worth exceeding ₹15,000 crore during the same period.

○ Average annual net profit after tax greater than ₹5,000 crore over the last three years.

Indian Navy's Largest Sailing Regatta, the Indian Navy Sailing Championship (INSC), Scheduled at
Ezhimala from October 16 to 19, 2024
● The Indian Navy Sailing Championship (INSC), the Navy's largest sailing regatta, will be held at

the Indian Naval Academy (INA), Ezhimala, from October 16 to 19, 2024.

● The event will take place at the Marakkar Watermanship Training Centre (MWTC) at INA, which
is recognized as one of the finest sailing facilities in India.

Launch of 'Samarthak,' the First Ship of the Multi-Purpose Vessel Project by L&T, at Chennai
● The first ship of the two Multi-Purpose Vessel projects, being built by Larsen & Toubro Limited

(L&T), Shipyard for the Indian Navy, was launched on 14 Oct 24 at L&T, Kattupalli.

● The ship has been named ‘ Samarthak ’ which means ‘ Supporter’ and is synonymous with the

muti-dimensional role envisaged from the platform.

● The contract for two Multi-Purpose Vessels was signed between the Ministry of Defence and L&T

Shipyard on 25 March 2022.

Sea Phase of Exercise MALABAR 2024 Begins Near Visakhapatnam Coast

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● The Sea Phase of Exercise MALABAR 2024 commenced on October 14, 2024, off the coast of
Visakhapatnam.

● Participating Nations: The exercise involves naval forces from Australia, India, Japan, and the

USA.

INS Talwar Arrives in South Africa for Participation in IBSAMAR VIII Naval Exercise

● INS Talwar, a frontline stealth frigate of the Indian Navy, arrived at Simon's Town, South Africa,

on 6 October 2024 to participate in IBSAMAR VIII.

● Purpose: IBSAMAR is a joint maritime exercise among India, Brazil, and South Africa, scheduled

from 6 to 18 October 2024.

● Objective: The exercise aims to enhance interoperability and strengthen naval cohesion between

the three participating nations.

Indian Army plans month-long events to commemorate 62nd anniversary of the Battle of Walong
● The Indian Army is planning a month-long series of events from October 17 to November 14,

2024 to mark the 62nd anniversary of the Battle of Walong during the 1962 Sino-Indian War.

About Indian Army :

● Founded : 26 January 1950

● Headquarters : New Delhi, Delhi, India

● Chief of the Army Staff (COAS) : General Upendra Dwivedi

● Vice Chief of the Army Staff (VCOAS) : Lieutenant General N. S. Raja Subramani

Indian Navy and Royal Navy of Oman Conduct Maritime Exercise (Naseem Al Bahr)
● The Indo-Oman bilateral naval exercise, Naseem Al Bahr, took place off the coast of Goa from

October 13 to 18, 2024.

● The Indian Navy participated with Indian Naval Ship (INS) Trikand and a Dornier Maritime Patrol

Aircraft, while the Royal Navy of Oman was represented by RNOV Al Seeb.

● Phases of the Exercise:The exercise was conducted in two phases:

● Harbour Phase: Held from October 13 to 15, focused on professional interactions, including

Subject Matter Expert Exchanges and planning conferences.

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 Important Monthly Current Affairs Capsule – October 2024

● Sea Phase: Conducted from October 16 to 18, involving various naval drills and operational
activities.

● Significance of the Partnership:Oman is the first Gulf country with which all three wings of India's

defense forces (Army, Navy, Air Force) conduct joint exercises.

● Such exercises consolidate gains in naval cooperation and deepen the partnership between the

two navies.

Indian Coast Guard Performs 'Sagar Kavach' Exercise Along the Coasts of Maharashtra and Goa
● The Indian Coast Guard (ICG) in co-ordination with other agencies has undertaken two-day

'Sagar Kavach' exercise along the coast of Goa and Maharashtra to protect the country's

maritime interests and to test the agencies' collective response to security threats.
● The Coast Guard is conducting the exercise in co-ordination with the Indian Navy, Customs,

Coastal Police, Central Industrial Security Force, Mormugao Port Authority and the Goa

government's Fisheries and Captain of Ports departments.

● Objective:The goal is to strengthen and enhance coastal and maritime security by engaging

various maritime agencies and stakeholders.

About ICG :
● Founded: 1 February 1977.

● Director General: S Paramesh.

● The Indian Coast Guard (ICG) is a maritime law enforcement and search-and-rescue agency

responsible for India’s territorial waters, including the contiguous zone and Exclusive Economic

Zone (EEZ).

National Aeronautics and Space Administration Launches Europa Clipper to Investigate Potential Signs
of Life on Jupiter's Moon
● The National Aeronautics and Space Administration’s (NASA’s) Europa Clipper has embarked on

its long voyage to Jupiter, where it will investigate Europa, a moon with an enormous subsurface

ocean that may have conditions to support life.

● The spacecraft launched aboard a SpaceX Falcon Heavy rocket from Launch Pad 39A at

NASA’s Kennedy Space Center in Florida.

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 Important Monthly Current Affairs Capsule – October 2024

Raksha Mantri Rajnath Singh Lays Foundation Stone for New Very Low Frequency Station of Indian
Navy in Vikarabad, Telangana
● The Raksha Mantri Rajnath Singh laid the foundation stone for a new Very Low Frequency (VLF)

Station of the Indian Navy.

● The VLF station is located at the Damagundam Reserve Forest site, Pudur Mandal in Vikarabad,

Telangana.

● This VLF station will be India’s second such facility; the first, INS Kattabomman, has been

operational in Tirunelveli, Tamil Nadu, since 1990.

India Set to Participate in Euronaval 2024 Defence Exhibition in France

● Euronaval 2024 is the world's largest naval defence trade show, scheduled to take place in Paris,

France from November 4-7, 2024.

● International Participation:India is among 104 countries invited to attend the exhibition.

● Focus Areas:The exhibition will showcase innovative solutions aimed at:

o Protecting naval forces and maritime infrastructure against air and surface drones.

o Developing next-generation anti-ship missiles and missile systems designed to target

multiple hostile drones.

● Themes:The event will emphasize themes such as innovation, sovereignty, and international

cooperation within the naval industry.

Spain Prime Minister Pedro Sanchez arrives for inauguration of India’s first private military aircraft
facility
● Spain’s Prime Minister Pedro Sanchez is on an official visit to India from October 28-30, 2024.

● This is the first visit by a Spanish PM to India in 18 years.

● Sanchez and Indian PM Narendra Modi will hold bilateral talks at the Laxmi Vilas Palace in

Vadodara to discuss collaborations and strategic partnerships.

● Inauguration of C295 Aircraft Facility: The leaders will inaugurate India’s first private military

transport aircraft production facility, the Final Assembly Line (FAL) for the C295 aircraft, in

Vadodara, Gujarat.

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 Important Monthly Current Affairs Capsule – October 2024

About Spain :
● Prime Minister : Pedro Sánchez

● Capital : Madrid

● Currency : Euro

Ministry of Defence signs ₹387.44 crore deal with Chowgule & Company Private. Limited. for six Air
Cushion Vehicles for the Indian Coast Guard
● The Ministry of Defence (MoD) has signed a contract with Chowgule & Company Private.

Limited., Goa, for the procurement of six Air Cushion Vehicles (ACVs) for the Indian Coast Guard

at a total cost of ₹387.44 crore.

● The ACVs, commonly known as 'Hovercrafts,' are amphibious vessels capable of operating on

various surfaces, including land and water.

About MoD :
● Defence Minister : Rajnath Singh

● Minister of State : Sanjay Seth

SCIENCE & TECHNOLOGY

US Officials Report That China's Latest Nuclear-Powered Submarine Sank Earlier This Year
● China’s newest nuclear-powered submarine sank pierside in the spring of 2024.

● The Chinese Navy attempted to conceal the loss of the submarine, which was the first of its new

Zhou-class line.

● Submarine Specifications:The Zhou-class submarines feature a distinctive X-shaped stern

designed for improved underwater maneuverability.

● The submarine was under construction at a shipyard near Wuhan.

● Despite retiring older submarines, China expects to have 65 submarines by 2025 and 80 by 2035,

due to increasing submarine construction capacity.

About China :
● President : Xi Jinping

● Capital : Beijing
● Currency : Renminbi

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 Important Monthly Current Affairs Capsule – October 2024

Indian Space Research Organisation Plans to Launch Venus Mission in March 2028 for a 112-Day
Journey to the Planet
● India’s maiden mission to Venus, which is scheduled for launch in March 2028, will embark on a

112-day journey to reach the planet.

● The ₹1,236-crore Venus Orbiter Mission (VOM) was recently approved by the Union Cabinet and

the Indian Space Research Organisation (ISRO) on October 1, 2024 revealed the targeted

launch window for the mission.

● According to the targeted launch window for VOM, the Earth departure date is scheduled on

March 29, 2028, and the arrival date on Venus is July 19, 2028. VOM will be launched by the

Launch Vehicle Mark-3 (LVM-3).

About ISRO :
● Established: 15 August 1969

● Headquarters: Bangalore, Karnataka, India

● Chairman: S. Somanath

Bharat Electronics Limited and Israel Aerospace Industries Form Joint Venture - BEL IAI AeroSystems
Private Limited

● Navratna defence PSU Bharat Electronics Limited (BEL) and Israel Aerospace Industries (IAI),

Israel's leading aerospace and defence company, have announced the establishment of a joint

venture company (JVC), which has been incorporated in the name of BEL IAI AeroSystems

Private Limited.

● Purpose of JVC: The joint venture will act as the single point of contact (SPOC) for extending

long-term technical and maintenance support for the Medium Range Surface-to-Air Missile

(MRSAM) systems for India's defense forces.

About MRSAM :
● MRSAM is an advanced, path-breaking air and missile defence system that provides protection

against a variety of aerial threats.

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 Important Monthly Current Affairs Capsule – October 2024

● It was jointly developed by IAI and DRDO for India's defence forces and is currently used by the
Indian Air Force, Indian Army, Indian Navy and also Israeli defence forces, it was noted.

● The system includes an Advanced Phased Array Radar, Command and Control shelter, mobile

launchers and interceptors with an advanced RF seeker.

● The formation of this JVC aligns with the Indian Government’s ‘Atmanirbhar Bharat’ initiative,

promoting self-reliance in defense capabilities by leveraging the expertise of both BEL and IAI.

About BEL :
● Founded: 1954

● Headquarters : Bangalore, Karnataka, India

● Chairman & MD : Manoj Jain

● BEL is an Indian public sector aerospace and defence electronics company.

● BEL is one of sixteen PSUs under the administration of the Ministry of Defence of India.

Google enhances its AI capabilities in India with the launch of Gemini AI mobile app in 9 regional
languages
● At the 10th edition of its Google for India event, Google unveiled several significant AI initiatives,

including the Gemini model, which enhances Google Search and Maps.

● The AI voice chat feature, Gemini Live, is being introduced in Hindi, with plans to add support for

eight additional Indian languages: Bengali, Gujarati, Kannada, Malayalam, Marathi, Telugu,
Tamil, and Urdu.

India and U.S. Sign MoU to Strengthen Critical Minerals Supply Chains
● India and the United States have signed an MoU aimed at expanding and diversifying critical
minerals supply chains.
● The agreement will leverage the complementary strengths of both nations in critical minerals
exploration, extraction, processing, recycling, and related activities.
5. Signatories:
o The MoU was signed by Piyush Goyal, India's Commerce and Industry Minister, and Gina
Raimondo, the U.S. Secretary of Commerce, during the 6th India-U.S. Commercial Dialogue
held in Washington D.C.
6. Objectives of the Dialogue:

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 Important Monthly Current Affairs Capsule – October 2024

o The dialogue focuses on enhancing the business and investment climate between India and
the U.S., with an emphasis on new and emerging technologies.
o Key priority areas include:
▪ Supply chain resilience
▪ Climate and clean technology cooperation
▪ Inclusive digital growth
▪ Standards and conformance cooperation
Indian Space Research Organisation’s Upper Stage Rocket Returns to Earth After 7-Year Journey
• The Indian Space Research Organisation (ISRO) announced that the upper stage of Polar

Satellite Launch Vehicle C-37 (PSLV C-37 mission), which launched a record number of 104
satellites more than seven years ago, has re-entered the earth's atmosphere as predicted.

• PSLV-C37 was launched on February 15, 2017 by the ISRO.

• The mission carried Cartosat-2D as the main payload, along with 103 co-passenger satellites,

making it the first mission to launch 104 satellites with a single rocket.

About ISRO :

• Established : 15 August 1969

• Headquarters : Bengaluru, Karnataka

• Chairman : S. Somanath

Bharti Airtel and Nokia Partner to Launch "Green 5G" Initiative to Cut Mobile Network Carbon Emissions
• Bharti Airtel and Nokia have announced a Green 5G initiative aimed at introducing energy-
efficient solutions to Airtel's mobile network.

• The project focuses on improving energy efficiency across Airtel's 4G/5G Radio Access Network

(RAN) using advanced technologies such as AI/ML and innovative software features.

• The initiative is projected to reduce Airtel’s carbon emissions by an estimated 143,413 metric

tons of CO2 annually.

• It targets energy efficiency improvements during both peak and off-peak hours

About Bharti Airtel Limited :

• Founded: 7 July 1995

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 Important Monthly Current Affairs Capsule – October 2024

• Headquarters: New Delhi, India

• MD & CEO: Gopal Vittal

• Operations: Bharti Airtel operates in 18 countries across South Asia, Africa, and the Channel

Islands.

About Nokia Corporation :

• Headquarters: Finland

• Chairwoman: Sari Baldauf

• President & CEO: Pekka Lundmark

• Background: Nokia is a Finnish multinational telecommunications and technology company,

originally founded as a pulp mill in 1865.

IIT Madras and Hindustan Zinc collaborate to develop cutting-edge zinc-air battery technology
• Hindustan Zinc Limited and IIT Madras have signed a Memorandum of Understanding (MoU) to

jointly develop a 1 kWh electrically-rechargeable zinc-air battery prototype.

• Research Leadership:The research team from IIT Madras is led by Aravind Kumar Chandiran,

Head of the Hyundai Hydrogen Innovation Hub at IIT Madras.

About Hindustan Zinc Limited :

• Founded : 1966

• Headquarters : Udaipur, Rajasthan, India

• Chairperson : Mrs. Priya Agarwal

• CEO : Arun Misra

• HZL is an Indian integrated mining and resources producer of zinc, lead, silver and cadmium.

• It is a subsidiary of Vedanta Limited.

Meta Unveils New AI Model "Movie Gen" Capable of Creating Realistic Video and Audio Clips to
Compete with Industry Leaders
• Facebook owner Meta opens a new tab and announced that it had built a new AI model called

Movie Gen that can create realistic-seeming video and audio clips in response to user prompts,

claiming it can rival tools from leading media generation startups like OpenAI and ElevenLabs.

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 Important Monthly Current Affairs Capsule – October 2024

• The model can generate personalized videos using actual photos of individuals, placing them in
various scenarios.

About Meta :

• Founded : January 4, 2004

• Headquarters : California, United States

• Chairman & CEO : Mark Zuckerberg

Anusandhan National Research Foundation Introduces Initial Initiatives: Prime Minister Early Career
Research Grant (PMECRG) and Mission for Advancement in High-Impact Areas -Electric Vehicle
(MAHA-EV) Mission
● The newly operationalised Anusandhan National Research Foundation (ANRF) announced the

launch of the first two of its initiatives-- the Prime Minister Early Career Research Grant

(PMECRG) and the Mission for Advancement in High-Impact Areas -Electric Vehicle (MAHA- EV)

Mission.

● The first Governing Board (GB) meeting was chaired by Prime Minister Narendra Modi on

September 10, 2024, marking the formal operationalisation of ANRF.

Dr. Jitendra Singh Speaks at the 11th India-Sweden Innovation Day

● Union Minister of State (Independent Charge) for Science and Technology, Dr. Jitendra Singh

addressed the 11th India-Sweden Innovation Day (ISID), focusing on bilateral collaboration

between India and Sweden in innovation and technology.

● Theme for 2024: The theme for the 2024 ISID is "Accelerating Green Growth for Inclusive

Transition."

● India's Innovation Rank (GII 2024): India ranks 1st among the 10 economies in Central and

Southern Asia and 39th globally among 133 economies in the Global Innovation Index (GII) 2024.

● Sweden's Innovation Rank (GII 2024): Sweden is a global leader in innovation, ranking 2nd

among 39 European economies and globally in the GII 2024.

National Space Commission Approves India's Fifth Lunar Mission: Lunar Polar Exploration Mission
● The National Space Commission has cleared India's fifth lunar mission, named the Lunar Polar

Exploration Mission (LUPEX).

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 Important Monthly Current Affairs Capsule – October 2024

● LUPEX is a joint mission between the Indian Space Research Organisation (ISRO) and the
Japan Aerospace Exploration Agency (JAXA).

● It will also involve observation instruments from NASA and the European Space Agency (ESA).

● The mission aims to explore the Moon's southern polar region, focusing on investigating the

presence of water and other elements, potentially as surface ice.

First Woman on Moon to Wear Prada-Designed Spacesuit for NASA's 2026 Mission
● The first woman to set foot on the Moon will be dressed in a designer spacesuit, thanks to a

collaboration between the National Aeronautics and Space Administration (NASA) and Italian

fashion house Prada.

● As part of Nasa’s historic Artemis III mission to the lunar South Pole, Prada has teamed up with
Axiom Space to create a cutting-edge spacesuit for the astronauts heading to the Moon in 2026.

● Leading up to this milestone is Artemis II, scheduled for September 2025, which will be the first

crewed Artemis mission to orbit the Moon.

● Christina Koch, the only woman in the Artemis II crew, could be the first woman to step onto the

lunar surface, a significant moment in history.

● To date, only 12 astronauts have walked on the Moon, all men.

About NASA :
● Formed : July 29, 1958

● Headquarters : Washington, D.C, United States

● Administrator : Bill Nelson

India Launches 4th Nuclear Submarine Equipped with Advanced Weapons

● India’s fourth nuclear-powered ballistic missile submarine (SSBN), referred to as S4*, was

launched into water at the Ship Building Centre in Visakhapatnam.

● This submarine is bigger and more capable than the first, INS Arihant (S2), which is essentially a

technology demonstrator developed under the Advanced Technology Vessel programme.

● The S4* features significant indigenous content, showcasing extensive involvement from the

Indian industry.

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 Important Monthly Current Affairs Capsule – October 2024

● Current Status of SSBNs:India currently has two operational SSBNs:

o INS Arihant (S2) (commissioned in August 2016, 6,000 tonnes, 83 MW pressurized light-

water reactor).

o INS Arighaat (S3) (commissioned in August 2024, similar specifications to INS Arihant).

● INS Aridhman (S4), is undergoing sea trials and is expected to be commissioned in 2025.

Cabinet Committee on Security approves procurement of two Indigenous nuclear attack submarines
and 31 MQ-9B drones from the United States
● The Cabinet Committee on Security (CCS) approved two significant defence deals involving the

purchase of 31 MQ-9B High Altitude Long Endurance (HALE) UAVs from the United States. and

the Indigenous construction of two Nuclear Attack Submarines (SSN).

● These deals are expected to significantly enhance the operational capabilities of the Indian Navy

and the Armed Forces.

● In July,2024 the DAC approved amendments to the MQ-9B deal, focusing on indigenous content

and related aspects.

Scientists discover concealed ocean 700 kilometers beneath Earth's surface

● Scientists at Northwestern University have discovered a massive water reservoir, dubbed a "sixth

ocean," located approximately 700 kilometers beneath the Earth's surface within the mantle.

● This hidden ocean is estimated to be three times larger than all of Earth's surface oceans
combined.

● Currently, the world recognizes five major surface oceans — Pacific, Atlantic, Indian, Arctic, and

Southern (Antarctic) Oceans.

● This new "sixth ocean" is unlike any surface ocean, existing deep within the Earth's mantle.

National Aeronautics and Space Administration Introduces New Telescope for Gravitational Wave
Research in Space

● The US National Aeronautics and Space Administration (NASA) unveiled a newly developed

prototype of a telescope that can be used to study gravitational waves in outer space.

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 Important Monthly Current Affairs Capsule – October 2024

● The telescope is part of a collaborative mission between NASA and the European Space Agency
(ESA) known as the Laser Interferometer Space Antenna (LISA).

● The primary goal of the LISA mission is to detect and study gravitational waves through the

deployment of three spacecraft arranged in a triangular formation.

● Triangular Configuration: Each side of the triangle will measure 1.6 million miles (approximately

2.57 million kilometres), with each spacecraft spaced about 2.5 million kilometres apart.

India Gets Cabinet Committee on Security Approval to Establish Missile Testing Range on East Coast

● The Cabinet Committee on Security (CCS), led by Prime Minister Narendra Modi, approved the

establishment of a new missile testing range in Andhra Pradesh.

● The missile testing range will be located in the Nagayalanka area of Andhra Pradesh.

● Purpose of the Range: The range is intended for test-firing tactical missile systems, including:

● Surface-to-air missile systems

● Anti-tank missiles

GSL launches two indigenous fast patrol vessels for the Indian Coast Guard

● Goa Shipyard Limited (GSL) launched two indigenous fast patrol vessels (FPVs), named

Adamya and Akshar, for the Indian Coast Guard.

● The launch ceremony was officiated by Priya Paramesh, wife of Indian Coast Guard Director

General Paramesh Sivamani, with traditional Atharva Veda chants.

● Vessel Specifications:Design: In-house by GSL to meet specific operational needs of the Indian

Coast Guard.

● Dimensions: Length - 52 meters, Breadth - 8 meters, Displacement - 320 tonnes.

● Purpose: Designed for protecting offshore assets, island territories, and conducting surveillance

operations.

About Goa Shipyard Limited :

● Founded : 1957

● Headquarters : Vasco da Gama, Goa

● Chairman & MD : Brajesh Kumar Upadhyay

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 Important Monthly Current Affairs Capsule – October 2024

RANKING AND REPORTS

Forbes Unveils 2024 'India’s 100 Richest' List, Wealth Crosses Trillion-Dollar Mark

• The combined wealth of India's richest individuals surpassed the trillion-dollar mark, reaching

$1.1 trillion. This marks a doubling in wealth since 2019, with an addition of $316 billion in the

past year alone.

• Mukesh Ambani - $119.5 billion (Reliance Industries, diversified assets)

o Second biggest gainer, adding $27.5 billion.

• Gautam Adani and Family - $116 billion (Adani Group, diversified assets)

o Biggest gainer, adding $48 billion.

• Savitri Jindal and Family - $43.7 billion (Metals and Mining)

o India's richest woman.

India Ranks 105th in 2024 Global Hunger Index, Faces "Serious" Hunger Crisis
● India ranks 105th out of 127 countries in the 2024 Global Hunger Index (GHI), placing it in the
"serious" category.
● With a GHI score of 27.3, India shares the serious category alongside countries like Pakistan and
Afghanistan.
1. Child Malnutrition Indicators:
o 35.5% of children under five in India are stunted (low height for age, indicating chronic
malnutrition).
o 18.7% of children under five are wasted (low weight for height, indicating acute malnutrition).
o 2.9% of children in India die before their fifth birthday.
2. Undernourishment in Population:
o 13.7% of India’s population is undernourished, indicating insufficient caloric intake across
significant sections of society.
3. Comparison with South Asian Neighbors:
o Countries like Bangladesh, Nepal, and Sri Lanka have fared better, achieving "moderate" GHI
scores, unlike India, which remains in the serious category.

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 Important Monthly Current Affairs Capsule – October 2024

4. Global Hunger Trends:

o The 2024 GHI report, published by Concern Worldwide and Welthungerhilfe, highlights that
many countries in Africa and conflict zones like Gaza and Sudan face even more extreme
food crises, falling under the "alarming" category.
o Globally, 733 million people face hunger daily, and 2.8 billion people cannot afford a healthy
diet.
WWF 2024 Living Planet Report: Alarming Decline in Global Wildlife Populations
● The World Wildlife Fund (WWF) released its 2024 Living Planet Report, highlighting a significant
decline in global wildlife populations.
● According to the report, there has been an average 73% decrease in monitored wildlife populations
since 1970, underscoring the urgent need to address biodiversity loss.
Key Highlights:
1. Living Planet Index (LPI):
● The LPI tracks average trends in wildlife populations, serving as an early indicator of extinction
risk and ecosystem health.
● The assessment is based on data from nearly 35,000 wildlife populations and 5,495 species.
2. Overall Decline (1970-2020):
● Freshwater species: 85% decline
● Terrestrial species: 69% decline
● Marine species: 56% decline
3. Regional Impacts:
● Latin America and the Caribbean: 95% decline
● Africa: 76% decline
● Asia-Pacific: 60% decline
● North America: 39% decline
● Central Asia: 35% decline
4. Key Drivers of Decline:
● Habitat degradation and loss
● Overexploitation of resources

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 Important Monthly Current Affairs Capsule – October 2024

● Invasive species and pests

● Climate change impacts
About WWF:
● The World Wildlife Fund (WWF), established in 1961, is the world’s leading conservation
organization, headquartered in Gland, Switzerland.
● It operates in over 100 countries to address threats to biodiversity and promote sustainable
solutions.
India's Progress in 5G Connectivity: Challenges and Achievements
● India's journey with 5G technology is still evolving, as highlighted in the latest 5G Connectivity Index
for Q2 2024, released by GSMA Intelligence.
● India ranked 33 out of 39 countries, showing room for improvement in certain areas while excelling
in others.
● Kuwait tops the list.
● India's Rank and Performance:
o India ranks 33rd out of 39 countries in the 5G Connectivity Index.
Lahore Ranked as World's Most Polluted City for the Second Time in a Week
● Lahore, a major city in Pakistan, has been ranked as the most polluted city in the world for the
second time in a week, with an Air Quality Index (AQI) of 208, surpassing New Delhi’s score of 164.
● Data from the US embassy's local monitoring indicated an even higher AQI of 252, signalling very
unhealthy air conditions.
● This ranking occurred despite minimal traffic due to holiday closures, raising concerns about
previous claims that transportation was the main contributor to pollution.
● Lahore's AQI of 208 surpasses New Delhi (164), indicating severe air pollution.
● US Embassy’s monitoring reported an AQI of 252, indicating very unhealthy air.
● Lahore has topped the global pollution ranking twice in a week, signaling an early onset of the smog
season.
World Bank Report: Poverty in India and Global Trends (2024)
● A recent World Bank report, "Poverty, Prosperity and Planet: Pathways out of the Polycrisis,"
provides insights into poverty trends in India and worldwide.

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 Important Monthly Current Affairs Capsule – October 2024

● The report reveals significant changes in poverty rates but highlights challenges.
● In 2024, around 129 million Indians are living in extreme poverty, surviving on less than $2.15
(approximately Rs 181) per day. This marks a substantial decrease from 431 million in 1990.
● The report indicates a reduction of 38 million in the extreme poverty population from 2021, when
there were 167.49 million people living in extreme poverty.
Russia Maintains Dominance as India's Top Oil Supplier
● India's imports of Russian crude rose by 2.5% from April to September compared to the same period
last year, solidifying Russia's status as the largest seaborne crude export destination for India.
● Russia commands a 39% share of India’s crude supply, followed by Iraq at 18% and Saudi Arabia at
13%.
● The United Arab Emirates (UAE) increased its share to 8% (up from 5%), and the United States
raised its share to 5.5% during the same period.
● Total oil imports to India have grown by 4% this year, reflecting a broader increase in demand.
● As the world’s third-largest oil consumer, India relies on imports for over 85% of its oil needs,
sourcing crude from more than 30 countries.
● Despite some fluctuations, the top three suppliers (Russia, Iraq, Saudi Arabia) have maintained their
rankings but lost about 0.5% of their market share compared to last year.
2023 Breaks Climate Records with Surging Greenhouse Gas Concentrations – WMO Bulletin
● 2023 was the warmest year on record, marked by a historic rise in greenhouse gas (GHG)
concentrations, as per the World Meteorological Organization (WMO).
● Carbon dioxide (CO₂) levels have risen 11.4% in the past 20 years and are now at levels not seen in
3-5 million years when temperatures were 2-3°C warmer and sea levels 10-20 meters higher.
● The globally averaged CO₂ concentration reached 420 parts per million (ppm), while methane (CH₄)
and nitrous oxide (N₂O) concentrations also surged, reaching 1,934 parts per billion (ppb) and 336.9
ppb respectively.
● These levels represent a 151% increase in CO₂, 265% in methane, and 125% in nitrous oxide
compared to pre-industrial levels (before 1750).

SPORTS NEWS
Indian Railways Triumphs Over IOC in 95th MCC-Murugappa Gold Cup Final

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 Important Monthly Current Affairs Capsule – October 2024

● Indian Railways emerged victorious with a 5-3 win over Indian Oil Corporation (IOC) in the final of
the 95th MCC-Murugappa Gold All-India Hockey Tournament.
● A large crowd applauded the defending champions, Railways, as they completed a lap of honour
after the match.
● Railways dominated the tournament, and in the final, they prevented the IOC, which included
former Olympians and international players, from gaining control.
Indian Shooters Shine at ISSF Junior World Championship, Winning Team Golds in 10m Air Pistol
Events
● India secured gold in both men's and women's team events in the 10m air pistol category at the
ISSF Junior World Championship in Peru.
● The men's team, comprising Umesh Choudhary, Pradhyumn Singh, and Mukesh Nelavalli,
scored 1726 points to finish 10 points ahead of Romania and secure the gold medal. Italy
claimed the bronze with a score of 1707.
Individual Performances:
● Umesh Choudhary was penalized two points for reporting late, missing out on a potential
individual gold. He finished sixth, while Pradhyumn Singh finished eighth in the individual finals.
● Luca Joldea of Romania won the men's individual gold, and Chinese Taipei's Hsieh Hsiang-Chen
secured silver.
Women's Team Victory:
● The women's team, consisting of Kanishka Dagar, Lakshita, and Anjali Chaudhary, won the gold
with a score of 1708, narrowly beating Azerbaijan by one point and Ukraine by four points.
Individual Finals:
● Kanak won a bronze medal in the individual finals, with a score of 217.6, while Kanishka Dagar
finished eighth.
● Chinese Taipei's Chen Yu-Chun clinched the women's gold, and Slovakia's Manja Slak took
silver.
Ishpreet Singh Chadha Makes History in Pro Snooker Circuit
● Ishpreet Singh Chadha, hailing from Mumbai, recently achieved a remarkable milestone by reaching
the quarterfinals of the professional snooker circuit, defeating the legendary Mark Selby, a four-time
World Snooker champion.

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 Important Monthly Current Affairs Capsule – October 2024

● This victory marks a significant achievement for Chadha, as he becomes the first Indian in 10 years
to advance to a pro semifinal at one of the four Home Nations majors.
Carlos Alcaraz Wins First China Open Title in a Thrilling Final Against Jannik Sinner
● Carlos Alcaraz secured his first China Open title after a hard-fought victory over world No. 1 Jannik
Sinner.
● The match was an intense contest, with Alcaraz coming from a set down to win 6-7 (6/8), 6-4, 7-6
(7/3), marking his fourth ATP title of the year and 16th career title overall.
● Carlos Alcaraz defeated world No. 1 Jannik Sinner in a gripping final lasting three hours and 21
minutes.
● The match ended Sinner's impressive run of 14 consecutive victories.
India's Gold Rush at the ISSF Junior World Shooting Championship in Lima, Peru
● India's shooters shone brightly at the ISSF Junior World Championship, winning five more gold
medals on Day four, taking the country's tally to 10 gold, 1 silver, and 3 bronze medals.
● Divanshi clinched gold in the 25-metre sports pistol event, shooting 35 points in the final to beat
Italy’s Cristina Magnani by two points.
● She also won team gold alongside Tejaswani and Vibhuti Bhatia in the junior women’s 25m pistol
event, outscoring teams from the Czech Republic and Germany.
● Mukesh Nelavalli claimed two gold medals, winning the junior men’s 25m pistol individual event with
a score of 585 and also securing team gold with Suraj Sharma and Pradhyumn Singh. This brings
Mukesh’s total to three golds in the competition.
● Suraj Sharma won silver in the individual event, finishing just two points behind Mukesh with 583.
● India secured the fifth gold in the junior men’s 50m rifle team event, with Shourya Saini, Vedant
Waghmare, and Parikshit Singh Brar scoring a combined 1753 points, setting a new European
World Record.
● India is leading the overall medal tally with 10 gold medals, followed by the USA in second place and
Italy in third.
Indian Men’s Football U-17 Wins SAFF Championship 2024
● The Indian U-17 football team clinched the SAFF Men’s U-17 Championship 2024 by defeating
Bangladesh in the final match.

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 Important Monthly Current Affairs Capsule – October 2024

● The tournament was held at the Changlimithang Stadium in Thimphu, Bhutan.

● India maintained an unbeaten record throughout the competition, showcasing strong
performances in both attack and defence.
Awards:
● Player of the Tournament: Mohammed Arbash (India)
● Goalkeeper of the Tournament: Aheibam Suraj Singh (India)
● Top Scorer: Sujan Dangol of Nepal (4 goals)
● Fair Play Trophy: Bhutan
India’s Performance in SAFF:
● U-15: Titles in 2017 and 2019
● U-16: Titles in 2013 and 2023
● U-17: Titles in 2022 and 2024
About SAFF:
● The South Asian Football Federation (SAFF) was founded in 1997 by Bangladesh, India,
Maldives, Nepal, Pakistan, Sri Lanka, and later Bhutan.
● SAFF organizes tournaments for both senior and junior categories across South Asia.
● Headquarters: Dhaka, Bangladesh
● President: Kazi Md. Salahuddin (Bangladesh)
Mumbai Wins Irani Cup 2024/25 After 27 Years

• Mumbai finally lifted the Irani Cup after 27 years by defeating the Rest of India (RoI) on a first-

innings lead under the captaincy of Ajinkya Rahane.

• This is Mumbai’s 15th Irani Cup title, marking a significant victory for the team after a long gap.

Dipa Karmakar Announces Retirement from Gymnastics

• Dipa Karmakar, renowned for her groundbreaking performances in gymnastics, has announced

her retirement from the sport.

• Karmakar, who became a national icon after finishing 4th in the Rio 2016 Olympics, leaves

behind a legacy characterized by her daring spirit and commitment to excellence.

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 Important Monthly Current Affairs Capsule – October 2024

• Produnova Vault: Karmakar is famous for executing the extremely challenging "Produnova" vault,
known as the "vault of death," which only a few gymnasts attempt due to its high difficulty and

risk.

Ajinkya Rahane Highlights the Importance of 'Freedom' and 'Confidence' in Cricket

• Veteran Indian batter Ajinkya Rahane emphasized the crucial role of granting players 'freedom'

and 'confidence' following Mumbai's remarkable victory in the Irani Cup.

• Key Achievements
• Rahane successfully led the Mumbai team to victory, ending a 27-year drought in the tournament

by defeating the Rest of India team based on the first-innings lead in Lucknow.

Sanath Jayasuriya Appointed Head Coach of Sri Lanka National Team

• Sanath Jayasuriya has been appointed as the head coach of the Sri Lanka national cricket team,

as announced by Sri Lanka Cricket (SLC) .

• The SLC Executive Committee made this decision after evaluating the team's recent

performances, which included:

o Winning their first bilateral ODI series against India in 27 years.

o Emerging victorious in a Test match against England after 10 years.

o Prevailing in a 2-0 home Test series against New Zealand.

World Pickleball Championship Series event to be held in Mumbai from November 12-17

• Gyaneshwari Yadav won the elite women’s 49kg title at the National Weightlifting Championships by

lifting a total of 186kg.

• Sufna Jasmin P.S. set new national records in snatch (76kg) and total (169kg) to win the women’s

45kg category.

• The World Pickleball Championship (WPC) Series will take place in Mumbai from November 12-17,

2024. This event will feature around 650 players from various countries. India had previously

performed well in this competition, securing several medals in past editions held in Vietnam and Bali.

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 Important Monthly Current Affairs Capsule – October 2024

Marco Curto Receives 10-Game Ban from FIFA for Discriminatory Remarks
• FIFA has suspended Marco Curto, an Italian soccer player, for 10 games due to a discriminatory

remark made against South Korean forward Hee Chan Hwang during a preseason match

between Como and Wolverhampton.

• In addition to the suspension, Curto is required to perform community service and undergo

training and education with an organization approved by FIFA.

Mahmudullah Riyad Announces Retirement from T20 Cricket After Series in India
• Former Bangladesh captain Mahmudullah Riyad announced that his remaining two T20 matches

in India will mark his final appearances.

• The 38-year-old player is set to participate in his 140th T20 match for Bangladesh in the second

game on Wednesday in New Delhi. The final match of the series will take place in Hyderabad .

• Bangladesh needs to win in New Delhi to stay alive in the three-match series, having lost the

opener by seven wickets in Gwalior.

Wimbledon abolishes line judges after 147 years

• From 2025, Wimbledon will remove line judges from all courts for the first time in its 147-year

history, opting for Live Electronic Line Calling (ELC) on all courts, including the qualifying

tournament at Roehampton.

• This change follows successful testing during the 2023 championships and reflects the broader

adoption of ELC in tennis.

• Sally Bolton, Wimbledon’s chief executive, noted the decision was made after thorough

consideration and consultation.

IPS Officer Anita Roy Makes History with Gold Medal at Commonwealth Bench Press Competition

• IPS Officer Anita Roy, Senior Superintendent of Police (SSP) in Puducherry, has become the first

IPS officer to win a gold medal at the Commonwealth International Classic Bench Press

Competition.

• The event was held in Sun City, South Africa, on October 4, 2024, where the 46-year-old lifted 70
kg, outperforming competitors from 43 countries.

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 Important Monthly Current Affairs Capsule – October 2024

Rafael Nadal Announces Retirement After Legendary Tennis Career

• Rafael Nadal, the tennis legend, has confirmed his retirement after a 23-year career, with plans

to conclude his professional journey following the upcoming Davis Cup final.

• The 38-year-old Spaniard announced his decision via a heartfelt video on social media platform

X, reflecting on the challenges he faced in recent years due to injuries and limitations.

• Nadal turned professional at 15 in 2001 and quickly became one of the sport’s foremost figures.

Jannik Sinner Defeats Novak Djokovic to Win Shanghai Masters 2024

● World No. 1 Jannik Sinner secured the Shanghai Masters title by defeating Novak Djokovic in
straight sets, 7-6(4), 6-3.
● The victory denied Djokovic a chance to become only the third male player to achieve 100 career
singles titles, a milestone shared by Jimmy Connors (109) and Roger Federer (103).
Aryna Sabalenka Clinches Historic Third Wuhan Open Title After Gritty Battle with Zheng Qinwen
● Aryna Sabalenka became the first player to win the Wuhan Open three times, defeating local star
Zheng Qinwen 6-3, 5-7, 6-3 in a thrilling final.
● Sabalenka's record in Wuhan remains perfect, improving to 17-0, having previously won the event in
2018 and 2019.
● This victory marks Sabalenka's fourth title of the 2024 season, which already includes two Grand
Slam titles and a WTA 1000 win in Cincinnati.
Neetu David Inducted into ICC Hall of Fame: A Historic Achievement for Indian Women's Cricket
● Former Indian spinner Neetu David, who holds the record for the best bowling figures (8/53) by a
woman in individual Test innings, has been inducted into the ICC Hall of Fame.
● She becomes only the second female cricketer from India to receive this prestigious honor, following
in the footsteps of former captain Diana Edulji.
Akhil Sheoran Secures Bronze medal in Rifle 3-Position at World Cup Final
● In an impressive performance at the World Cup Final held at the Dr. Karni Singh range in
Tughlakabad, Akhil Sheoran clinched the bronze medal in the 50m rifle 3-position event .
● This marked the second medal for India at the championship, following Sonam Maskar's silver on
the opening day.

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 Important Monthly Current Affairs Capsule – October 2024

● Both Akhil and Sonam were among the four shooters who received direct entries into this prestigious
event.
Thomas Tuchel Appointed Head Coach of England National Team
● German manager Thomas Tuchel has been named the head coach of the England national soccer
team, marking him as the third non-Englishman to take on this prestigious role.
● The Football Association (FA) announced the appointment, confirming that Tuchel will officially start
on January 1, alongside his English assistant, Anthony Barry.
DDA Hikes Membership Fees for Sports Complexes, Sparks Outcry Among Members
● The Delhi Development Authority (DDA) has revised its membership fees for 17 sports complexes,
including the popular Siri Fort complex, effective November 1.
● The move has triggered discontent among several members, who have labelled the fee hike "unfair"
and "elitist".
Delhi Capitals Co-Owners Split Team Management in Strategic Move
● In a strategic decision, the co-owners of Delhi Capitals, the JSW Group and GMR Group, have
implemented a two-year rotational management system for their men's and women's teams in the
IPL and Women's Premier League (WPL).
Ashalata Devi poised to make history as the first Indian woman footballer to reach 100 international
appearances
● Captain Ashalata Devi will become the first Indian woman footballer to play 100 international

matches when she competes in the opening match of the SAFF Championship against Pakistan.

Arjun Kadhe and Rithvik Bollipalli Clinch Maiden ATP Title at Almaty Open 2024
● India's Arjun Kadhe and Rithvik Bollipalli achieved a remarkable victory by winning the men's
doubles title at the Almaty Open 2024 ATP 250 tennis tournament in Kazakhstan.
● This triumph marked their first ATP Tour crown as a team and individually.
● Kadhe and Bollipalli defeated Colombia’s Nicolas Barrientos and Tunisia’s Skander Mansouri in a
thrilling match, with a scoreline of 3-6, 7(7)-6(3), 14-12.
● Yuki Bhambri of India, paired with France's Albano Olivetti (third seeds), was eliminated in the
opening round by Schnaitter and Wallner.

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 Important Monthly Current Affairs Capsule – October 2024

● The fourth-seeded team of India's N Sriram Balaji and Argentina’s Guido Andreozzi reached the
semi-finals but were ousted by Barrientos and Mansouri.
India Retains Top Spot in ICC World Test Championship (WTC) 2023-25 Despite Setback Against New
Zealand In 1st Test
● The competition for the top two positions in the ICC World Test Championship (WTC) 2023-25 has
become fierce, with India and Australia aiming to secure their berths for the final at Lord’s in 2025.
● New Zealand’s recent victory over India in Bengaluru has also boosted their chances of reaching the
WTC final.
India's Position
● India currently leads the WTC points table with a points percentage of 68.06% after playing 12
matches.
● They still have two home matches and five away matches in Australia left to play, and need to
perform well to qualify for their third consecutive WTC final.
Australia’s Stand
● Australia ranks second with a 62.50% points percentage.
● Sri Lanka is currently in third position with a 55.56% points percentage. They recently achieved a
2-0 series win over New Zealand at home.
● New Zealand’s win over India has moved them to fourth place with a 44.44% points percentage,
marking their first Test win in India in 36 years.
Updated WTC Points Table
Position Team Matches Won Lost Drawn Points PCT
(%)
1 India 12 8 3 1 98 68.06
2 Australia 12 8 3 1 90 62.50
3 Sri Lanka 9 5 4 0 60 55.56
4 New Zealand 9 4 5 0 48 44.44
5 England 18 9 8 1 93 43.06
6 South Africa 6 2 3 1 28 38.89
7 Bangladesh 8 3 5 0 33 34.38

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 Important Monthly Current Affairs Capsule – October 2024

8 Pakistan 9 3 6 0 28 25.93
9 West Indies 9 1 6 2 20 18.52
Charles Leclerc Secures Ferrari's First U.S. Grand Prix Victory Since 2018
● Charles Leclerc delivered a stunning performance at the United States Grand Prix, marking Ferrari's
first win at the event since 2018.
● Meanwhile, Max Verstappen of Red Bull solidified his position in the F1 season championship with a
podium finish, benefiting from a late penalty handed to McLaren's Lando Norris.
Deepika Kumari Wins Silver at Archery World Cup Final 2024
● Deepika Kumari secured the silver medal in the women’s recurve event at the Archery World Cup
Final 2024 held in Tlaxcala, Mexico.
● The accomplished Indian archer faced a challenging match against Li Jiaman of China, ultimately
losing 6-0 in the final.
● Olympic Participation: Deepika represented India at the Paris 2024 Olympics, competing in both the
women’s individual and team events, but was eliminated in the quarter-finals of both.
Indian Shuttlers Shine at Japan Para Badminton International 2024, Securing 24 Medals
● Indian para-badminton players showcased remarkable performances at the Japan Para Badminton
International 2024, winning a total of 24 medals.
Key highlights :
Medal Tally
● 6 Gold
● 9 Silver
● 9 Bronze

OBITUARIES
Malayalam Actor Mohan Raj, Known for His Role as 'Keerikkadan Jose,' Passed Away
• Veteran actor Mohan Raj, popularly known by his stage name Keerikkadan Jose, passed away at

the age of 70.

• Mohan gained fame for his iconic villainous role as "Keerikkadan Jose" in the film Kireedam,

starring Mohanlal.

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 Important Monthly Current Affairs Capsule – October 2024

Ratan Tata, Chairman Emeritus of Tata Sons and National Icon Passed away
• Ratan Tata, chairman emeritus of one of India's biggest conglomerates, Tata Sons, has passed

away at the age of 86.

• Birth: December 28, 1937, in Mumbai, Maharashtra.

• Family Background: Great grandson of Jamsetji Tata, the founder of the Tata Group.

• Career Highlights

• Chairmanship: He served as chairman of the Tata Group from 1991 to 2012 and again from 2016

to 2017.

Indranand Singh Jha, Former Radio Presenter of Akashvani Darbhanga, Passed away
● Indranand Singh Jha, the famous former radio presenter and compere of Akashvani Darbhanga

passed away at his ancestral village Chanaur in Darbhanga at the age of 77.

● Jha was well-known for his rural radio talk programme called Gamghar, broadcast from

Akashvani Darbhanga.

● He was affectionately known by his pen name, Khur Khur Bhai (खुर खुर भाई).

Israel kills Hamas chief: Yahya Sinwar

● Israel’s Foreign Minister confirmed that Israeli troops in Gaza have killed Hamas’ top
leader Yahya Sinwar, a chief architect of Hamas’ attack on Israel on October 7, 2023 that
sparked the Israel-Hamas war.
Renowned Sanskrit scholar Vasant Anant Gadgil passed away
● Sanskrit scholar and the founder of Sharda Gyan Peetham, Vasant Anant Gadgil, passed away

in Pune, Maharashtra at the age of 94.

Awards and Recognition:

● In 2012, he was honored by then Gujarat Chief Minister Narendra Modi.

● He received the Mahakavi Kalidas Sanskrit-Vrati National Award for his efforts in Sanskrit

propagation, research, and development from Kavikulaguru Kalidas Sanskrit University.

Tito Mboweni, South Africa’s First Black Central Bank Governor, Passed Away

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 Important Monthly Current Affairs Capsule – October 2024

● Tito Mboweni, who was the first Black governor of the South African Reserve Bank was heralded
by financial markets and business for keeping tight fiscal controls on the nation’s public spending,

has passed away at the age of 65.

Nobuyo Oyama, Iconic Voice Actor of Japanese Cartoon Doraemon, Passed Away
● Nobuyo Oyama, the iconic voice actor for Doraemon, passed away at the age of 90.

● Oyama began her career in the 1960s and became famous for her voice acting in anime and

children’s programs.

Renowned physicist and gender equity advocate Rohini Godbole passed away
● Professor Rohini Godbole, a well-known physicist and Padma Shri recipient, passed away in

Bengaluru at the age of 72.

● Godbole Born in 1952 in Pune, Maharashtra.

● Awards and Honors:Padma Shri recipient (2019). (For her contribution to the field of science)

● Awarded France's National Medal of Merit (Ordre national du Mérite) in 2021.

Chirag Chikkara Makes History at Under-23 World Wrestling Championships

● Chirag Chikkara has etched his name in history by becoming only the third Indian wrestler to clinch a
gold medal at the Under-23 World Championships, contributing to India’s impressive nine medals at
the tournament.
● Competing in the men’s freestyle 57kg category, Chikkara secured a thrilling victory with a narrow 4-
3 win over Abdymalik Karachov of Kyrgyzstan in the final moments of the match.
India’s Performance at the U23 World Wrestling Championships
Chirag Chikkara’s Historic Win
● Gold Medal Achievement: Chikkara is the second Indian male to achieve this title, following
Aman Sehrawat’s gold in 2022.
● Final Match: Narrowly defeated Abdymalik Karachov (Kyrgyzstan) with a score of 4-3.
Overall Medal Tally
India secured a total of nine medals at the championships:
● 1 Gold Medal: Chirag Chikkara (Men’s Freestyle 57kg)
● 2 Silver Medals
● 6 Bronze Medals

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 Important Monthly Current Affairs Capsule – October 2024

India finished fourth in the overall team rankings with 82 points, trailing behind:
● Iran: 158 points
● Japan: 102 points
● Azerbaijan: 100 points
Pro Kabaddi League Receives ‘Best Sports League of the Year’ Award
● The Pro Kabaddi League (PKL) has been honoured with the prestigious ‘Best Sports League of the
Year’ award at the Confederation of Indian Industry (CII) Sports Business Awards 2024.
● The award ceremony took place in New Delhi, coinciding with the launch of PKL’s 11th season.

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 Important Monthly Current Affairs Capsule – November 2024

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 Important Monthly Current Affairs Capsule – November 2024

S. No Topics Page No

1. IMPORTANT DAYS 03

2. NATIONAL NEWS 14

3. INTERNATIONAL NEWS 43

4. STATE NEWS 52

5. BUSINESS NEWS 67

6. BANKING AND ECONOMY 75

7. AWARDS AND HONOURS 129

8. APPOINTMENTS & RESIGNATIONS 135

9. MOUS AND AGREEMENT 153

10. RANKING AND INDEXES 160

11. ACQUISITIONS & MERGERS 164

12. DEFENCE NEWS 169

13. SCIENCE & TECHNOLOGY 179

14. SPORTS NEWS 189

15. OBITUARIES 201

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 Important Monthly Current Affairs Capsule – November 2024

IMPORTANT DAYS

World Vegan Day: 1st November

• World Vegan Day 2024 is observed on the 1st of November 2024.
• World Vegan Day 2024 is celebrated on 1st November as it falls between Halloween Day and
Saint’s Day.
• The World Vegan Society was formed in 1944 by Louise Wallis.
• But the Name “Vegan” was first coined by Donald Watson and his wife Dorothy Morgan in the
year 1944.

Vigilance Awareness Week 2024 Observed by TRAI

• In line with the directives of the Central Vigilance Commission (CVC), this year's Vigilance
Awareness Week is being observed from October 28, 2024, to November 3, 2024, under the
theme: “Culture of Integrity for Nation's Prosperity.”
• On October 28, 2024, all public servants are required to take the Integrity Pledge as mandated
by the CVC.
• The Chairperson of TRAI administered this pledge to all officers and staff at the TRAI
Headquarters and its Regional Offices.

International Day to End Impunity for Crimes against Journalists (IDEI) – November 2
• The International Day to End Impunity for Crimes against Journalists (IDEI) is observed annually
on November 2.
• IDEI was established by the UN General Assembly in Resolution A/RES/68/163.
• The date, November 2, commemorates the assassination of two French journalists in Mali in
2013.
• The theme for 2024 is “Safety of Journalists in Crises and Emergencies,” focusing on protecting
journalists in conflict zones and crises.

World Jellyfish Day 2024: November 3

• World Jellyfish Day is observed on November 3 to raise awareness about the importance of
jellyfish in marine ecosystems.
• Marine biologists established World Jellyfish Day in 2014 to raise awareness of jellyfish's vital
role in marine ecosystems.

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 Important Monthly Current Affairs Capsule – November 2024

International Day for Biosphere Reserve: 3rd November

• Every year November 3 is celebrated as International Day for Biosphere Reserves.
• It was proclaimed by the United Nations Educational, Scientific and Cultural Organization
(UNESCO) in 2021.

World Tsunami Awareness Day: 5th November

• World Tsunami Awareness Day 2024 is observed on the 5th of November 2024.
• There is a story behind World Tsunami Awareness Day celebrated on November 5.
• On November 5th, 1854, Hiromura a little village which is located in the western part of Japan
started celebrating their Traditional Practice, the Burning of Rice Sheaves.

International Day for Preventing Exploitation of Environment in War and Armed Conflict 2024: 6th
November
• International Day for Preventing the Exploitation of the Environment in War and Armed Conflict is
observed on 6th November 2024.
• The United Nations General Assembly declared this day in 2001.
• zThe UN Environment Assembly (UNEA) adopted a resolution in 2016 that recognized the role of
healthy ecosystems in reducing the risk of armed conflict.
• International humanitarian law (IHL) also aims to protect the natural environment during armed
conflict.

National Cancer Awareness Day: 7th November

• National Cancer Awareness Day 2024 is observed on the 7th of November 2024.
• This year's theme is"Fight cancer with hope and heart!"
• In September 2014, National Cancer Awareness Day was first initiated by Dr. Harsh Vardhan,
the Union Minister of Health and Family Welfare in India.

Infant Protection Day: 7th November

• Infant Protection Day 2024 is observed on the 7th of November 2024

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 Important Monthly Current Affairs Capsule – November 2024

• The first three months are the crucial period for Infants. It develops certain skills like Hearing,
Communication, and Vision.
• Europe first started a campaign to improve child health care. Europe Countries established Infant
Protection Day in order to create awareness among the people about Child Care Services and to
reduce the Infant Mortality Rate (IMR).

Chandrasekhara Venkata Raman Birthday: 7th November

• Chandrasekhara Venkata Raman's Birthday is observed on the 7th of November 2024.
• C.V. Raman was born on 7th November 1888, in Tiruchirappalli.
• His father's name was Chandrasekhara Ramanathan Iyer who was a professor of Physics and
Mathematics who worked in Visakhapatnam.

World Radiography Day: 8th November

• World Radiography Day 2024 is observed on the 8th of November 2024.
• X-Ray was discovered in 1895 by Wilhelm Roentgen.
• In his laboratory, he accidentally discovered a new Electromagnetic wave that is transparent
through flesh but won't transfer through metals and bones. It is a great invention that is used in
the medical field.

National Legal Services Day: 9th November

• National Legal Services Day 2024 is observed on the 9th of November 2024.
• Every year on November 9th, National Legal Services Day is marked to mark the beginning of
the Legal Services Authorities Act, 1987, which went into effect on that date in 1995.
• State Legal Services Authorities across the nation hold legal awareness events on National Legal
Services Day to inform people about the availability of free legal help.

World Freedom Day: November 9

• World Freedom Day is celebrated on November 9 every year to honour the freedom fighters
worldwide, democracy, and those who have fought for liberty, freedom, and basic human rights.
• Along with this, it also marks the day of the fall of the Berlin Wall in 1989.

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 Important Monthly Current Affairs Capsule – November 2024

International Week of Science and Peace (IWOSP): November 9 to 15

• Celebrated annually from November 9 to 15, the International Week of Science and Peace
(IWOSP) promotes the role of science in fostering global peace and cooperation.
• Established in 1986 during the International Year of Peace, IWOSP gained official recognition in
1988 under UN Resolution 43/61, encouraging international events focused on the peaceful
applications of science.

Uttarakhand Foundation Day (Uttarakhand Diwas): November 9

• Uttarakhand Foundation Day is celebrated on November 9 each year, marking the formation of
the state in 2000.
• 2024 commemorates the 24th anniversary of Uttarakhand’s establishment as a distinct state in
India.
• After years of struggle, Uttarakhand was carved out of Uttar Pradesh on November 9, 2000.
• Originally named Uttaranchal, the state was renamed Uttarakhand in 2007 to reflect its cultural
roots.

National Education Day: 11th November

• National Education Day 2024 is observed on the 11th of November 2024.
• National Education Day was first observed by the Ministry of Human Resource Development on
November 11, 2008.
• It is observed every year after the birth anniversary of Maulana Abul Kalam Azad who was the
first Educational Minister of Independent India. He served Educational Minister for for Ten Years.
• The First National Education Day was celebrated on 11th November 2008 at Vigyan Bhawan,
New Delhi, and was first inaugurated by then President Pratibha Patil.

World Science Day for Peace and Development: 10th November

• World Science Day for Peace and Development 2024 is observed on the 10th of November
2024.
• The first World Conference on Science was held in 1999 and was coordinated by UNESCO and
the International Council for Science.
• World Science Day for Peace and Development was first observed in 2002.

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 Important Monthly Current Affairs Capsule – November 2024

World Immunization Day: November 10

• Observed on November 10, World Immunization Day promotes awareness about the critical role
vaccines play in protecting public health.
• Objective: Provide free immunization to 2.67 crore newborns and 2.9 crore pregnant women
annually, targeting diseases like polio, measles, and hepatitis B.
• Impact: Reduced under-5 mortality rate from 45 (2014) to 32 per 1000 live births (2020).
Achieved 93.23% full immunization coverage in FY 2023-24.

World Public Transport Day: November 10

• World Public Transport Day, observed annually on November 10, encourages people to embrace
public transit options and raise awareness of the significant environmental and social benefits of
sustainable transportation.
• This year’s theme is, ‘Connecting Communities, Reducing Emissions,
• First observed in the early 2000s, this day aims to raise awareness about the environmental,
economic, and social benefits of public transportation.

World Pneumonia Day : 12th November

• World Pneumonia Day 2024 is observed on 12th November.
• The theme for World Pneumonia Day in 2024 is "Every Breath Counts: Stop Pneumonia in Its
Track."
• World Pneumonia Day, observed on November 12, was established in 2009 by the Global
Coalition against Child Pneumonia, which included organizations like UNICEF, WHO, and Save
the Children.

Public Service Broadcasting Day: 12th November

• Public Service Broadcasting Day is celebrated annually on 12th November to commemorate
Mahatma Gandhi's only visit to the Akashvani (All India Radio) studio in Delhi in 1947.
• This day remembers Gandhiji’s broadcast to displaced people settled in Kurukshetra, Haryana,
following the Partition.
• This first and only live broadcast by Gandhi took place on 12th November 1947, where he
addressed the suffering people, calling them his "brothers and sisters."

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 Important Monthly Current Affairs Capsule – November 2024

World Kindness Day: 13th November

• World Kindness Day 2024 is observed on the 13th of November 2024.
• nearly 27 countries around the world celebrate World Kindness Day.
• But yet the UN has not officially celebrated this day. Some of the countries which celebrate World
Kindness Day are India, Brazil, Australia, Canada, Japan, Italy, etc.
• World Kindness Day was first celebrated in 1998 at the Tokyo Conference.

World Usability Day: 14th November

• World Usability Day 2024 is observed on the 14th of November 2024.
• The User Experience Professional Association established World Usability Day in the year
November 2005. The Association initially comprising of 50 members and it was started in the
year 1991.

World Diabetes Day: 14th November

• World Diabetes Day 2024 is observed on the 14th of November 2024.
• The theme for World Diabetes Day 2024 is "Bridging Barriers and Bridging Gaps".
• World Diabetes Day became an official UN day in 2006.

Children’s Day in India: 14th November

• Children’s Day in India is observed on the 14th of November 2024.
• Jawaharlal Nehru was born to a Kashmiri Brahmans Royal family on November 14th, 1889.
• A sister, Vijaya Lakshmi Pandit, later became the first woman president of the United Nations
General Assembly.

Jharkhand Foundation Day 2024: November 15

● Date: Celebrated on November 15 each year.
● Formation: Jharkhand was officially carved out of Bihar in 2000 following the Bihar
Reorganization Act, 2000 passed by the Indian Parliament.

World Quality Week 2024: November 11 to November 15, 2024

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● The Chartered Quality Institute (CQI) World Quality Week serves as a platform to highlight and
promote best practices in quality management across industries, fostering a culture that values
continuous improvement and superior performance.
Celebration Details
● Date: 11 to 15 November 2024
● Initiative: Since 2021, the CQI shifted from observing World Quality Day on the second Thursday
of November to celebrating World Quality Week.
● 2024 Theme: "Quality: From Compliance to Performance"
● Theme Focus: This year's theme emphasizes the evolution of quality management practices,
encouraging organizations to move beyond basic compliance and focus on enhancing
performance.

International Day for Tolerance: 16th November

● International Day for Tolerance 2024 is observed on the 16th of November 2024.
● In 1993, at the initiative of UNESCO, the United Nations proclaimed 1995 as “The Year for
Tolerance”.
● One year later in 1996, the UN General Assembly decided 16th of November was the International
Day for Tolerance and it would be celebrated every year.
International Students Day: 17th November
● International Students Day 2024 is observed on the 17th of November 2024.
● When Adolf Hitler came to power in 1933, the Third Reich started aggressive claims over territories
outside Germany’s borders.
● The Nazis first captured Austria in 1938, Hitler’s home country.
● The first observance took place in 1941 at the International Students’ Council in London. It was there
that students decided to introduce International Students’ Day, to be observed every November 17.

National Epilepsy Day: 17th November

● National Epilepsy Day 2024 is observed on the 17th of November 2024.
● National Epilepsy Day was first observed by the Epilepsy Foundation of India to reduce Epilepsy
conditions in India.

International Men’s Day: 19th November

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 Important Monthly Current Affairs Capsule – November 2024

● International Men’s Day 2024 is observed on the 19th of November 2024

● In 1968, an American journalist named John P. Harris communicated that there was a celebration for
International Women’s Day for female workers but failed to deliver a male counterpart.

World Toilet Day: 19th November

● World Toilet Day 2024 is observed on the 19th of November 2024
● This year's theme is ‘Toilets - A Place for Peace’ which emphasizes that billions of people face
heightened threats to sanitation due to conflict, climate change, natural disasters, and systemic
neglect.
● Jack Sim, a philanthropist from Singapore, founded the World Toilet Organization on November 19,
2001, He declared that day as World Toilet Day. Toilets are only the first stage of sanitation
apparatuses.
● As a result, World Toilet Day was declared an official UN day, and the resolution was adopted by
122 countries at the 67th session of the UN General Assembly in New York.

Women’s Entrepreneurship Day: November 19

● Women's Entrepreneurship Day (WED), celebrated annually on November 19, honours women
entrepreneurs and their contributions to innovation, economic growth, and community development.
● Founded by Wendy Diamond in 2014, Women’s Entrepreneurship Day emerged in response to the
challenges and opportunities faced by women in the entrepreneurial space.

National Integration Day: November 19

● National Integration Day is observed every year on November 19, marking the birth anniversary
of Indira Gandhi, India’s first woman Prime Minister.
● The day commemorates her significant contributions to strengthening India’s unity and diversity
amidst challenges of regionalism, separatism, and inequality.

National Newborn Care Week 2024: November 15–21

● National New Born Care Week is a national health care event, observed in India between the 15th to
21th of November annually, intended to raise awareness about the importance of newborn care for
child survival and development
● The theme for 2024: "Safety, Quality, and Nurturing Care – Birth Right of Every Newborn"

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 Important Monthly Current Affairs Capsule – November 2024

World Antimicrobial Resistance Awareness Week (WAAW) 2024

● World AMR Awareness Week (WAAW) is an annual global campaign observed from 18-24
November.
● Its primary objective is to raise awareness and understanding of AMR and encourage best practices
to mitigate the emergence and spread of drug-resistant infections.
● The theme for 2024: "Educate. Advocate. Act Now."
● What is AMR?Antimicrobial Resistance (AMR) occurs when pathogens such as bacteria, viruses,
fungi, and parasites evolve to resist antimicrobial agents (e.g., antibiotics, antivirals).

World Day for the Prevention of and Healing from Child Sexual Exploitation, Abuse, and Violence
● World Day for the Prevention of and Healing from Child Sexual Exploitation, Abuse, and Violence
Observed on November 18, this day emphasizes raising awareness about the widespread and
devastating issue of child sexual abuse and violence.
● Objective: To raise awareness, prevent child sexual abuse, and promote healing for survivors, while
safeguarding their rights and dignity.

World COPD Day: 20th November

● Every year World COPD Day is observed on the Third Wednesday of November.
● This year World COPD Day 2024 falls on the 20th of November 2024.
● This year, 2024, the World COPD Day theme is “Know Your Lung Function”.
● The first World COPD Day was held in 2002.

Universal Children’s Day: 20th November

● Universal Children’s Day 2024 is observed on the 20th of November 2024.
● Children’s Day was first officially declared a national holiday by the Republic of Turkey in 1920 on
April 23.
● Though Universal Children’s Day was established by the United Nations in 1954, it wasn’t until
November 20, 1959, that the UN General Assembly adopted an extended form of the Declaration of
the Rights of the Child.

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 Important Monthly Current Affairs Capsule – November 2024

● Originally acquired in 1924 by the League of Nations, the UN adopted this document as its own
statement of children’s rights.

World Television Day: 21st November

● World Television Day 2024 is observed on the 21st of November 2024.
● In 1927, a 21-year-old inventor by the name of Philo Taylor Farnsworth invented the world’s first
electronic television.
● On November 21 and 22 1996, the United Nations held the first World Television Forum.

World Fisheries Day 2024: November 21st

● World Fisheries Day, observed annually on November 21st, emphasizes the importance of
sustainable fisheries, the protection of aquatic ecosystems, and the livelihoods of fishing
communities globally.
● Originating in 1997 during the World Forum of Fish Harvesters & Fish Workers in New Delhi, the
day advocates for sustainable fishing practices, highlighting threats such as overfishing, habitat
destruction, and illegal fishing.
● Theme for 2024: “India’s Blue Transformation: Strengthening Small-Scale and Sustainable
Fisheries”
● Global Position : India is a key player in the global fisheries and aquaculture sectors, holding the
position of the 3rd largest fish producer and the 2nd largest aquaculture nation after China. India
is also the largest producer of shrimp worldwide, which plays a significant role in global seafood
markets.

International Day for the Elimination of Violence Against Women: 25th November
● International Day for the Elimination of Violence Against Women 2024 is observed on the 25th of
November 2024.
● On November 25, 1960, the Mirabal sisters of the Dominican Republic were assassinated by
dictator Rafael Trujillo.
● In December 1999, the United Nations General Assembly designated November 25 as the
International Day for the Elimination of Violence Against Women.

World Heritage Week 2024: November 19 to November 25

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 Important Monthly Current Affairs Capsule – November 2024

● World Heritage Week, observed globally from November 19 to November 25, celebrates the
preservation and promotion of cultural and historical heritage.
● This initiative, led by UNESCO and supported in India by the Archaeological Survey of India
(ASI), serves as a platform to emphasise the importance of safeguarding the world’s shared
heritage.
● The 2024 theme is "Discover and Experience Diversity", highlighting cultural and natural heritage
richness worldwide.
● India is home to 43 UNESCO World Heritage Sites as of September 2024.

Constitution Day: 26th November

● Constitution Day 2024 is observed on the 26th of November 2024.
● On November 26, 1949, the Constituent Assembly of India formally adopted the Constitution of
India.
● It came into force on January 26, 1950.
● Constitution Day aims to bring awareness about the importance of the Constitution and Dr. B R
Ambedkar.

World Sustainable Transport Day - November 26

● The United Nations General Assembly has designated November 26 as World Sustainable
Transport Day (WSTD) to promote the shift towards more environmentally friendly and
sustainable transportation systems.
● The theme for 2024 is: "Together, We Can Drive Meaningful Change for a Healthier Planet and a
Brighter Future."

Red Planet Day 2024: November 28

● Red Planet Day is observed annually on November 28, Red Planet Day commemorates
humanity’s deep-rooted fascination with Mars, the fourth planet from the Sun, often called the
Red Planet due to its iron oxide-rich surface.
● This year’s theme, "Planet vs. Plastics," aligns Mars exploration with Earth’s environmental
concerns.

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 Important Monthly Current Affairs Capsule – November 2024

NATIONAL NEWS
Union Minister Piyush Goyal Inaugurates ODOP Wall in Saudi Arabia
• Union Minister Piyush Goyal inaugurated the “One District One Product” (ODOP) Wall at the
Indian Embassy in Riyadh during his two-day visit to Saudi Arabia.
• The ODOP initiative seeks to promote unique local products from Indian districts internationally,
bolstering the “Made in India” movement.
• Promotion of Local Products: The ODOP Wall highlights distinctive products from various Indian
districts, aiming to transform these regions into global “Made in India” hubs.

ED Issues Guidelines for Recording Statements Under Section 50 of PMLA

• The Enforcement Directorate (ED) has issued detailed internal guidelines for its officers on
recording statements under Section 50 of the Prevention of Money Laundering Act (PMLA),
emphasizing procedural improvements and humane working hours.
• This directive follows a Bombay High Court ruling in the case of Ram Kotumal Issrani vs
the Directorate of Enforcement that urged the ED to establish timing protocols for recording
statements.

Power Ministry Proposes 15-Year PPA for Renewable Energy Projects with Energy Storage Systems
• The Ministry of Power has issued draft guidelines for a 15-year Power Purchase Agreement
(PPA) through Tariff-Based Competitive Bidding (TBCB) to procure firm and dispatchable power
from grid-connected renewable energy (RE) projects with Energy Storage Systems (ESS).
• The amendments aim to ensure consistent, on-demand power supply from renewable sources,
supplemented by storage to enhance grid reliability.
• Standard 15-Year PPA: The proposed agreement duration is 15 years, effective from the
scheduled or extended commencement-of-supply date.

PM Modi Criticizes Delhi and West Bengal for Excluding Citizens from Ayushman Bharat Scheme

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 Important Monthly Current Affairs Capsule – November 2024

• Prime Minister Narendra Modi criticized the Delhi and West Bengal governments for not
implementing the Ayushman Bharat health insurance scheme, a flagship initiative providing free
healthcare coverage.
• He described this move as a "political decision" that deprives senior citizens aged 70 and above
in these states of essential health benefits.
• Affordable Medicines: Modi spotlighted the role of 14,000 Jan Aushadhi Kendras in reducing
medical expenses, saving citizens up to Rs 30,000 crore.

PM Modi Inaugurates ₹280 Crore Development Projects in Ekta Nagar, Gujarat

• Prime Minister Narendra Modi inaugurated and laid the foundation stone for over ₹280 crore
worth of projects in Ekta Nagar, Gujarat, focusing on tourism, accessibility, and sustainability in
the region.
• Projects aim to boost tourism and improve infrastructure in Ekta Nagar, enhancing its appeal as a
destination and aligning with regional development goals.
• The projects emphasize sustainability and accessibility, supporting Gujarat’s economic and social
development.

Union Home Minister Amit Shah Launches Civil Registration System Mobile App
• Amit Shah, India's Union Home Minister, unveiled a new mobile application designed to facilitate
the registration of birth and death, making the process seamless and hassle-free.
• This initiative is part of the Digital India vision spearheaded by Prime Minister Narendra Modi to
integrate technology into governance.
• The Civil Registration System (CRS) mobile app, developed by the Registrar General and
Census Commissioner of India, aims to significantly reduce the time needed for birth and death
registrations.

Indonesia's President Prabowo Subianto Likely as Republic Day Chief Guest for 2025
• India is likely to invite Indonesian President Prabowo Subianto as Chief Guest for the Republic
Day parade in January 2025.
• This invitation aligns with India’s Act East Policy and reinforces India’s diplomatic ties in the
Southeast Asian region.
This will be the fourth time an Indonesian leader is the chief guest for India’s Republic Day.

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 Important Monthly Current Affairs Capsule – November 2024

• Previous Instances:
o 1950: President Sukarno (first Republic Day).
o 2011: President Susilo Bambang Yudhoyono.
o 2018: President Joko Widodo, alongside other ASEAN leaders.

First Asian Buddhist Summit to Explore the Role of Buddha Dhamma in Strengthening Asia
• The Ministry of Culture, Government of India, in collaboration with the International Buddhist
Confederation (IBC).
• Date and Location: Scheduled for November 5-6, 2024, in New Delhi.
• Theme: Focused on the ‘Role of Buddha Dhamma in Strengthening Asia’.
• Chief Guest: The Hon’ble President of India is expected to attend.

Government Plans ₹2,000 Crore Fund Infusion to Revive Pawan Hans Helicopter Services
• The Government of India is considering a ₹2,000 crore fund infusion to revive Pawan Hans, the
national helicopter operator, after previously attempting to divest its stake in the company.
• The divestment process was halted in 2023 due to the disqualification of the successful bidder
amidst pending litigation.
• The proposed fund infusion is intended to span two to three years and requires Pawan Hans to
meet specific targets within a set timeline.

India Strengthens Antibiotic Residue Norms to Combat Superbugs in Food Products

• India’s food safety regulator, the Food Safety and Standards Authority of India (FSSAI), has
revised and tightened antibiotic residue normsfor:
o Meat and meat products
o Milk and milk products
o Poultry and eggs
o Aquaculture

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 Important Monthly Current Affairs Capsule – November 2024

• The updated limits will be implemented from April 1, 2025, aiming to ensure safer food for
consumers.

Government Advances Electric Mobility with ₹320 Crore Disbursed under PM E-DRIVE Scheme
• The Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE)
scheme, launched on October 1, 2024, aims to accelerate the adoption of electric two-wheelers
(e2W) and three-wheelers (e3W).
• With a total budget of ₹10,900 crore over two years, the scheme intends to subsidize 11,87,917
EVs in the first year alone.
• As of October 28, 2024, the Ministry of Heavy Industries (MHI) reports:
o 52% of e2Ws sold, reaching 5,49,698 units, with subsidy claims submitted for 3,28,524
units.
o 73% of e3W (L5 category) sold, with 58,640 units delivered and 40,075 claims submitted.
o 6,09,250 vehicles sold in total, with subsidy claims for 3,69,357 EVs (51%) submitted.

New Flight Connectivity Rules Allow Wi-Fi Use Above 3,000 Meters Altitude
• The Government of India clarified that Wi-Fi services for in-flight internet access will be allowed
only once the aircraft reaches 3,000 meters in altitude.
• The new guideline is part of the recently updated Flight and Maritime Connectivity (Amendment)
Rules, 2024, which amend the previous rules from 2018.
• Wi-Fi Access Aligned with Device Use Permissions
• Wi-Fi services will be accessible when electronic devices (such as smartphones, tablets, and
laptops) are permitted onboard.
• The use of these devices, however, is restricted during critical flight phases like takeoff and
landing to maintain safety.

Government e-Marketplace Introduces 170 Seed Categories for Enhanced Procurement

• The Government e-Marketplace (GeM) has introduced 170 new seed categories aimed at
simplifying access to quality agricultural and horticultural seeds.
• This initiative comes just in time for the upcoming cropping season.
• Procurement Options

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 Important Monthly Current Affairs Capsule – November 2024

• Nearly 8,000 seed varieties are now available for procurement by Central and State Public
Sector Undertakings (PSUs) and other governing bodies. This move facilitates the efficient
distribution of quality seeds nationwide.

Prime Minister Narendra Modi Inaugurates India’s Largest Jan Aushadhi Kendra at AIIMS, Expanding
Access to Affordable Medicines
• Prime Minister Narendra Modi emphasized that the inauguration of advanced medical
manufacturing plants will contribute to India’s capability to produce high-quality stents, implants,
and advanced medicines, strengthening the country's growth in healthcare manufacturing.
• The Prime Minister also inaugurated the biggest Jan Aushadhi Kendra at the All India Institute of
Medical Sciences (AIIMS), New Delhi. This facility is aimed at making affordable and high-quality
medicines accessible to patients receiving treatment at AIIMS.

CBDT Permits Waiver or Reduction of Interest on Tax Payments, Setting Monetary Limits for Tax
Authorities
• The Central Board of Direct Taxes (CBDT) issued a circular on November 4 allowing tax officers
to waive or reduce interest on tax dues, provided certain conditions are met.
• This aims to alleviate financial hardship for taxpayers facing high-interest payments due to
delays.
• Monetary Limits for Waiver Decisions:
o Interest Over ₹1.5 Crore: Decision made by a Principal Chief Commissioner of Income
Tax (PrCCIT).
o Interest Between ₹50 Lakh and ₹1.5 Crore: Decision made by a Chief Commissioner of
Income Tax (CCIT).
o Interest Up to ₹50 Lakh: Decision made by a Principal Commissioner of Income Tax
(PrCIT) or Income Tax Commissioner.

BEML Limited Receives “Self-Certification” Status for Defence Equipment

• BEML Limited has been granted the prestigious “Self-Certification” status by the Department of
Defence Production (DDP), Government of India, for its defence equipment.

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 Important Monthly Current Affairs Capsule – November 2024

• Award Presentation: The certification was presented by RA Govardhana, ADGQA (V&EE), HQ

DQAV, to Shantanu Roy, Chairman & Managing Director of BEML Ltd., during a special event at
BEML's headquarters.
• Validity: The certification is valid for three years, covering 842 stores of BEML’s defense
equipment.

India Launches ‘National Biodiversity Strategy and Action Plan (NBSAP) 2024-2030’ at COP 16
• The updated National Biodiversity Strategy and Action Plan (NBSAP) 2024-2030 was launched
at the 16th Conference of Parties (COP 16) to the Convention on Biological Diversity (CBD) in
Colombia.
• Purpose: NBSAP provides a comprehensive framework for biodiversity conservation, promotes
the sustainable use of biological resources, and ensures fair and equitable sharing of their
benefits.

I&B Ministry Considers Treating Wikipedia as Content Publisher Amid Legal and Editorial Concerns
• The Ministry of Information and Broadcasting (I&B) is considering classifying Wikipedia as a
content publisher, which would make the Wikimedia Foundation liable in court cases concerning
its content.
• Government Concerns:
o The I&B Ministry raised concerns about bias and inaccuracies on Wikipedia, with
complaints pointing to a small group having editorial control over content.
o The government has questioned why Wikipedia should not be treated as a publisher
instead of an intermediary.

CCEA Approves ₹10,700 Crore Equity Infusion for FCI and Launches PM Vidyalaxmi Education Loan
Scheme
• The Cabinet Committee on Economic Affairs (CCEA) has approved an equity infusion of ₹10,700
crore for the Food Corporation of India (FCI) to support food grain procurement and bolster
financial stability amid rising costs.
• This funding will address working capital needs for the fiscal year, allowing FCI to manage the
increasing stock volume and Minimum Support Price (MSP) hikes.

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 Important Monthly Current Affairs Capsule – November 2024

• Minister Ashwini Vaishnaw emphasized the government's commitment to farmer welfare and
agricultural resilience.

India’s Crackdown on Cybercrime: 450,000 Mule Accounts Frozen in Major Anti-Fraud Effort
• The Indian government has taken decisive steps to combat cybercrime by freezing approximately
450,000 “mule” bank accounts used to launder money obtained from cyber fraud.
• The effort is part of a nationwide crackdown on financial cybercrime coordinated by the Indian
Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs.
• A high concentration of these accounts is found in prominent banks: SBI (40,000 accounts), PNB
(10,000), Canara Bank (7,000), Kotak Mahindra Bank (6,000), and Airtel Payments Bank (5,000).

Government Expands e-Shram Portal to Include Self-Employed Workers and Micro-Enterprise Owners
• The Indian government is enhancing the e-Shram portal to encourage self-employed workers—
including owners of micro-enterprises, hawkers, and vendors—to register.
• This move is part of an ongoing effort to ensure social security and welfare benefits reach
workers in the unorganized sector.
• A special functionality is being added to the portal for self-employed workers who may not
consider themselves “workers” despite being a part of the unorganized sector.

PM Vidyalaxmi Scheme: New Central Initiative for Accessible Higher Education Loans
• The Union Cabinet approved the PM Vidyalaxmi scheme, chaired by Prime Minister Narendra
Modi, to financially support meritorious students for pursuing higher education.
• Aligned with the National Education Policy (NEP) 2020, this scheme aims to remove financial
barriers for students admitted to Quality Higher Education Institutions (QHEIs).
• Collateral-Free Loans: Students admitted to top-ranking higher education institutions can access
collateral-free, guarantor-free loans covering tuition and course-related expenses.

Launch of Digital Life Certificate (DLC) Campaign 3.0 for Pensioners’ Digital Empowerment
• Dr. Jitendra Singh, Minister of State for Personnel, launched the Nationwide Digital Life
Certificate (DLC) Campaign 3.0 to empower pensioners digitally.

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 Important Monthly Current Affairs Capsule – November 2024

• This campaign aligns with Prime Minister Modi's vision for a "Nation First, Citizen First" approach
to pensioners’ welfare.
• The campaign will operate from November 1-30, 2024, covering 800 cities and towns across
India. Pensioners of Central and State Governments, EPFO, and Autonomous Bodies can submit
their DLCs at designated locations.

Shilp Samagam Mela 2024’ – Empowering Marginalized Artisans and Celebrating India's Cultural
Heritage
• ‘Shilp Samagam Mela 2024’ was inaugurated at Dilli Haat, New Delhi, aiming to empower
marginalized artisans by offering them a platform to sell their crafts and products.
• The event focuses on economic inclusion and the promotion of cultural heritage.
• The Union Minister Dr. Virendra Kumar (Social Justice and Empowerment) officially opened the
fair.
• Shri B.L. Verma, Union Minister of State for SJE, along with other senior ministry officials,
attended the inauguration.

Ministry of Skill Development Reconstitutes Central Apprenticeship Council (CAC) to Boost On-the-Job
Training
• The Ministry of Skill Development and Entrepreneurship (MSDE) has reconstituted the CAC to
suggest reforms to increase apprenticeship engagement in industries.
• The new CAC includes 6 public sector undertakings (PSUs): BHEL, IOC, South Eastern
Coalfields Limited, Neyveli Lignite Corporation, Bharat Electronics Limited, and HAL.
• Private sector representatives include major companies such as TATA Group, Maruti Suzuki,
Reliance Industries, Toyota, and the Indian Banks Association.

• B.V.R. Subrahmanyam, CEO of Niti Aayog, suggested that India should join the Regional
Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive
Agreement for Trans-Pacific Partnership (CPTPP).
• This stance contrasts with the Indian government’s 2019 decision to exit RCEP negotiations,
citing potential challenges from free trade with China.

PM Modi to Lay Foundation Stone for AIIMS Darbhanga on November 13

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 Important Monthly Current Affairs Capsule – November 2024

• Prime Minister Narendra Modi will visit Darbhanga, Bihar, on November 13, 2024, to lay the
foundation for the AIIMS Darbhanga project.
• Project Value: The construction of AIIMS Darbhanga is a Rs 1,700 crore initiativeto improve
healthcare access in north Bihar and neighbouring regions.
• Ceremony and Attendees: The foundation-laying ceremony, or ‘bhumi pujan,’ will be attended by
dignitaries including Chief Minister Nitish Kumar and Union Ministers Chirag Paswan and Jitan
Ram Manjhi.

EPFO Annual Report 2023-24: Key Highlights on Employment, Claims, and Reforms
• The Employees' Provident Fund Organisation (EPFO) has seen growth in membership,
contributions, and arrears recovery, along with significant strides in organizational reform.
• Growth in Membership and Contributions
• Increase in Contributing Members: Reflecting employment growth,EPFO members rose by 7.6%
from 6.85 crore in 2022-23 to 7.37 crore in 2023-24.

Special Campaign 4.0: Boosting Cleanliness, Efficiency, and Revenue in Government Offices
• The Special Campaign 4.0, a central government initiative to enhance cleanliness and reduce
pendency in government offices, has achieved remarkable results, generating ₹2,364 crore in
revenue over the past three years.
• This latest phase, conducted from October 2 to 31, 2024, alone contributed over ₹650 crore
through scrap disposal.
• Financial Gains:
o Total revenue generated (2021-2024): ₹2,364 crore.
o Revenue generated in October 2024 campaign alone: ₹650 crore.

Prime Minister Shri Narendra Modi May Skip COP29 Due to Scheduling Conflicts

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 Important Monthly Current Affairs Capsule – November 2024

• Prime Minister Shri Narendra Modi may skip the UN Climate Change Conference (COP29) in
Azerbaijan next month due to scheduling issues.
• The absence will also rule out the potential for a meeting between Modi and Pakistani Prime
Minister Shehbaz Sharif, which had been a point of interest after S. Jaishankar's recent visit to
Islamabad.
• Environment Minister Bhupender Yadav will lead India’s delegation to COP29 in Modi’s absence.
• Other notable heads of state like Chinese President Xi Jinping, US President Joe Biden, and
French President Emmanuel Macron are also expected to miss the summit.

Amit Shah Addresses Anti-Terrorism Conference, Unveils Strategic Measures to Combat Terrorism
• Union Home Minister Amit Shah inaugurated the Anti-Terrorism Conference-2024 in New Delhi,
organized by the National Investigation Agency (NIA).
• The conference includes senior police officers, experts, and officials from Central agencies
discussing counter-terrorism strategies.
• Shah unveiled the motto of NIA and released the Standard Operating Procedure (SoP) for
investigations under the UAPA.
• 11 NIA medal winners were felicitated for their outstanding contributions to national security.

India's Progress and Challenges in Achieving TB Elimination by 2025

• In 2018, Prime Minister Narendra Modi committed to “eliminating” TB in India by 2025, five years
ahead of the UN SDG target of 2030.
• SDG targets by 2030 include:
o 90% reduction in TB deaths and 80% reduction in TB incidence compared to 2015.
• WHO’s End TB Strategy milestones for 2025:
▪ 75% reduction in TB deaths and 50% reduction in TB incidence from 2015 levels.

Commemorative Postage Stamp Released for Vadtal Temple's 200th Anniversary

• To commemorate the 200th anniversary of Vadtal Temple, a special stamp was released to
honor its pivotal role in the Shree Swaminarayan Sampradaya.
• The temple serves as the spiritual capital of the Shree Swaminarayan Sampradaya, which has
spread across the world.
• Key Highlights of the Event:

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 Important Monthly Current Affairs Capsule – November 2024

• Event Date and Location:

o Date: November 9, 2024
o Location: Vadtal, District Kheda, Gujarat

Launch of National MSME Cluster Outreach Programme by Union Finance Minister Nirmala Sitharaman
• Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman launched the National
MSME Cluster Outreach Programme, organised jointly by the Department of Financial Services
(DFS), Ministry of Finance, Government of India, and Small Industries Development Bank of
India (SIDBI).
• The National MSME Cluster Outreach Programme was launched by Union Minister for Finance
and Corporate Affairs, Smt. Nirmala Sitharaman.
• The programme was organized jointly by the Department of Financial Services (DFS), Ministry of
Finance, Government of India, and Small Industries Development Bank of India (SIDBI).

Prime Minister Narendra Modi's Visit to Nigeria, Brazil, and Guyana: November 16-21, 2024
• Prime Minister Shri Narendra Modi is set to embark on a significant international trip from
November 16 to 21, 2024, visiting Nigeria, Brazil, and Guyana.
• This tour will focus on strengthening bilateral ties, participating in key summits, and engaging
with the Indian diaspora.
• Nigeria: Strengthening Strategic Partnership
o Dates: November 16-17, 2024
o Invitation: From Nigerian President H.E. Mr. Bola Ahmed Tinubu
o Significance: First Indian Prime Minister visit to Nigeria in 17 years.

Union government approves first-ever all-women battalion in CISF

• The Union government has approved the first all-women battalion within the Central Industrial
Security Force (CISF), comprising 1,025 personnel.
• This decision aims to bolster the force's capabilities in VIP security, airport security, and other
essential installations.
• The battalion, termed a "reserve battalion," will be led by a senior commandant and includes
over 1,000 women personnel.

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 Important Monthly Current Affairs Capsule – November 2024

• The creation of this unit will be achieved within the current sanctioned CISF manpower of
approximately 2 lakh personnel.
About CISF:
• Established in 1969, CISF is known for its counter-terrorist security roles at high-risk facilities,
including nuclear and aerospace installations and private sector sites like Infosys in Bangalore
and Reliance’s Jamnagar refinery.

Defence Minister's Address at Delhi Defence Dialogue 2024

• India aims to establish itself as a global drone hub, integrating advanced technologies and
intellectual property (IP) creation in unmanned systems, which is crucial as drones redefine
modern warfare.
• Delhi Defence Dialogue 2024
• Theme: "Adaptive Defence: Navigating the Changing Landscape of Modern Warfare"

New Water Pollution Penalty Rules: Streamlining Inquiry and Enforcement

• The Central Government has introduced the Water (Prevention and Control of Pollution)
(Manner of Holding Inquiry and Imposition of Penalty) Rules, 2024, effective November 11,
2024.
• These rules aim to simplify and expedite the process of addressing water pollution offences
under the Water (Prevention and Control of Pollution) Act, 1974.

NITI Aayog Launches ASSET Platform for Accelerating Green Energy Transition
• NITI Aayog, in collaboration with the Ministry of Power and the Ministry of New and Renewable
Energy, has introduced the ASSET platform to support India’s green energy transition and assist
states in developing energy transition blueprints.
• The platform aims to accelerate renewable energy adoption and sustainable growth in alignment
with national goals.

Central govt approves fire services projects worth Rs 725 cr for 3 states
● The Union Home Ministry, under the leadership of the Union Home Minister and Minister of
Cooperation, has approved three major fire service modernization projects totaling Rs. 725.62
crore for the states of Chhattisgarh, Odisha, and West Bengal.

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 Important Monthly Current Affairs Capsule – November 2024

Funding Breakdown:
● Chhattisgarh: Rs. 147.76 crore
● Odisha: Rs. 201.10 crore
● West Bengal: Rs. 376.76 crore
● The approval comes from a high-level committee comprising the Finance Minister, Agriculture
Minister, and Vice Chairman of NITI Aayog.
● The initiative is aligned with Prime Minister Narendra Modi’s vision for a disaster-resilient India,
aiming to enhance disaster management capabilities, focusing on fire services and disaster risk
reduction.

Prasar Bharti OTT to be launched on November 20

● Prasar Bharti, the public broadcaster, will officially launch its OTT platform on November 20
during the inaugural ceremony of the International Film Festival of India (IFFI) in Goa.
● This announcement was made by the secretary of the Ministry of Information and Broadcasting
(MI&B) Sanjay Jaju.
● The Ministry of Information and Broadcasting (MI&B) will set up a Prasar Bharati OTT booth at
the International Film Festival of India (IFFI) offering a sneak preview of the digital distribution
service.

Inaugural U.S.-India Indian Ocean Dialogue to be held on November 14

● US Deputy Secretary of State Kurt Campbell will be in New Delhi on November 13-14 to
participate in the first India-US Indian Ocean Dialogue.
● This is the inaugural structured dialogue between the two countries focusing on promoting
security and prosperity across the Indo-Pacific region.
Dialogue Goals and Participants:
● Focus: The dialogue will center on security and prosperity in the Indo-Pacific region.
● Participants:
o Kurt Campbell (US Deputy Secretary of State)
o Jon Finer (US Principal Deputy National Security Advisor)
o Senior Indian officials

Power Ministry likely to roll out ₹1,000 cr interest subvention scheme for energy efficiency in MSMEs

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 Important Monthly Current Affairs Capsule – November 2024

● The Ministry of Power is set to launch a Rs. 1,000-crore scheme next month aimed at
encouraging micro, small, and medium enterprises (MSMEs) to adopt energy-efficient
technologies.
Scheme Overview:
● Name: Assistance in Deploying Energy Efficient Technologies in Industries & Establishment
(ADEETIE)
● Managed by: Bureau of Energy Efficiency (BEE)
● Objective: To help MSMEs reduce energy costs and emissions, aligning with India’s commitment
to meet its net-zero emissions target by 2070.
● Launch Timeline: Expected in December 2024.
Financial Support:
● Interest Subsidy:
o 5% for small enterprises.
o 3% for medium enterprises.
● The interest subsidy will be applicable to loans taken by MSMEs to implement energy-efficient
technologies.

Jawaharlal Nehru Memorial Fund to unveil Digital Archive in 2025, featuring PM's iconic letters and
books
● On November 14, 2024, the Jawaharlal Nehru Memorial Fund (JNMF) revealed plans to launch
The Nehru Archive, a comprehensive digital platform dedicated to preserving and sharing
materials that chronicle the life and legacy of Jawaharlal Nehru, India's first Prime Minister.
● Launch Date: The archive will officially be unveiled on November 14, 2025, marking Nehru’s
136th birth anniversary.
Purpose of the Archive
● The Nehru Archive is an initiative by the JNMF, which also houses the Prime Minister's Museum
and Library.
● The archive seeks to honor Nehru’s vision and contributions to India’s democracy and
international ideals, ensuring his legacy is preserved and accessible for future generations.
● This digital archive will play a crucial role in showcasing Nehru's profound influence on India’s
development and its global stance in the post-independence era.

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 Important Monthly Current Affairs Capsule – November 2024

Fossil-Based CO2 Emissions to Rise by 4.6% in 2024

● India's fossil-based CO2 emissions are projected to increase by 4.6% in 2024, contributing
significantly to the global challenge of climate change.
● The Global Carbon Project (GCP) has flagged this concerning trend as part of its annual report on
emissions.
Key Global Findings on CO2 Emissions:
1. Global Fossil CO2 Emissions:
o Expected to hit a record 37.4 billion tonnes in 2024.
o Largest contributors in 2023:
▪ China: 31%
▪ USA: 13%
▪ India: 8%
▪ European Union: 7%
o These four regions together account for 59% of global fossil CO2 emissions.
2. Land-Use Change Emissions:
o Global emissions from deforestation and land-use changes have dropped by 20% over the
last decade.
● India contributed 8% of global fossil CO2 emissions in 2023, reflecting its growing energy
demands and reliance on fossil fuels.
Global Carbon Project (GCP):
● Established: 2001.
● Purpose: Tracks global carbon emissions and CO2 sinks, providing critical data to measure
progress toward the Paris Agreement targets.
● Scope:
o Publishes global budgets for key greenhouse gases: carbon dioxide (CO2), methane
(CH4), and nitrous oxide (N2O).

Ministry of Mines Shines in National Learning Week 2024

● The Ministry of Mines has been lauded for its exceptional performance during the National Learning
Week (NLW), a nationwide learning initiative hosted on the iGOT platform.
● The event, launched by Prime Minister Narendra Modi on October 19, 2024, concluded on October
27, 2024, aiming to enhance skill development across central government organizations.

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 Important Monthly Current Affairs Capsule – November 2024

● Three organizations under the Ministry of Mines received prestigious awards during the valedictory
ceremony held by the Capacity Building Commission (CBC) on November 14, 2024, at Vigyan
Bhawan:
1. Hindustan Copper Limited (HCL)
o Rank: 3rd
o Category: Medium (M)
2. Mineral Exploration and Consultancy Limited (MECL)
o Rank: 1st
o Category: Small (S)
3. Jawaharlal Nehru Aluminium Research Development and Design Centre (JNARDDC)
o Rank: 2nd
o Category: Extra Small (XS)

DDA Launches Phase II of 2024 Sasta Ghar Housing Scheme

● The Delhi Development Authority (DDA) has rolled out Phase II of the 2024 Sasta Ghar Housing
Scheme, offering over 2,600 affordable flats across several locations in Delhi.
● This initiative aims to meet the growing demand for affordable housing, providing opportunities for
economically weaker sections (EWS), lower income groups (LIG), and others to own homes.
● Locations: Flats are available in Narela, Rohini, Manglapuri (Dwarka), Siraspur, and
Loknayakpuram.

Union Minister Launches 'Tulip' Platform to Empower Marginalised Artisans

● Union Minister for Social Justice and Empowerment, Virendra Kumar, inaugurated 'Tulip', a new
digital platform designed to improve market access for artisans from marginalised communities.
● The launch took place during the 15-day Shilp Samagam Mela at Dilli Haat, which showcases
traditional handicrafts and skill demonstrations while enabling direct support for artisan communities.
● Target Beneficiaries:Scheduled Castes (SCs), Scheduled Tribes (STs), Other Backward Classes
(OBCs), Safai Karmacharis, Persons with Disabilities, and minority groups.

Symbiosis International University Launches Its First International Campus in Dubai

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 Important Monthly Current Affairs Capsule – November 2024

● External Affairs Minister Dr S. Jaishankar and UAE Minister Sheikh Nahyan bin Mubarak Al Nahyan
inaugurated the first international campus of Symbiosis International University (SIU) at Dubai
Knowledge Park, marking a new chapter in Indo-UAE educational and bilateral relations.

PM Modi Inaugurates Bodoland Mohotsav: Celebrating Bodo Culture and Progress

● Prime Minister Narendra Modi inaugurated the first-ever Bodoland Mohotsav in New Delhi, a two-
day festival spotlighting the rich language, literature, and culture of the Bodo community.
● The event underscores the transformation of Bodoland following the historic 2020 Bodo Peace
Accord, fostering unity, peace, and development in the region.

Union Minister Launches 'Know Your Medicine (KYM)' App to Strengthen Anti-Doping Measures in
Sports
● Union Minister for Youth Affairs & Sports, Dr. Mansukh Mandaviya, has unveiled the ‘Know Your
Medicine (KYM)’ app, a key step in India’s commitment to combating doping in sports.
● The initiative is spearheaded by the National Anti-Doping Agency (NADA) India and aims to ensure
fair competition while empowering athletes with the tools to maintain clean sports practices.

UN COP29: Mobilizing $1 Trillion Annually for Climate Finance by 2030

● A new report by the Independent High-Level Expert Group on Climate Finance highlights the urgent
need for $2.4 trillion annually by 2030 to support climate action in Emerging Market and Developing
Countries (EMDCs), excluding China.
● This includes investments in clean energy transitions, adaptation, resilience, and natural capital.
Global Climate Investment Needs
● Total Requirement by 2030: $6.3-6.7 trillion annually.
o Advanced Economies: $2.7-2.8 trillion.
o China: $1.3-1.4 trillion.
o EMDCs (excluding China): $2.4 trillion.
● By 2035: Global annual needs increase to $7-8.1 trillion, with EMDCs requiring $3.1-3.5 trillion.
Breakdown of EMDCs' $2.4 Trillion Annual Investment
1. Clean Energy Transition: $1.6 trillion.

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 Important Monthly Current Affairs Capsule – November 2024

2. Adaptation and Resilience: $0.25 trillion.

3. Loss and Damage: $0.25 trillion.
4. Natural Capital and Sustainable Agriculture: $0.3 trillion.
5. Just Transition: $0.04 trillion.

Partnerships for Accelerated Innovation and Research (PAIR) Initiative

● The Government of India has launched the PAIR initiative under the Anusandhan National Research
Foundation (ANRF) to foster research excellence and innovation in central and state public
universities, especially those with limited research infrastructure.
Anusandhan National Research Foundation (ANRF)
Overview
● Established under the ANRF 2023 Act.
● Apex body to provide strategic direction for scientific research in India.
● Key Functions:
o Promote research and innovation across universities, research institutions, and R&D labs.
o Facilitate collaborations between industry, academia, and government.
o Integrate Science and Engineering Research Board (SERB) functions into ANRF.

FSSAI’s Nationwide Food Safety and Hygiene Initiative

● The Food Safety and Standards Authority of India (FSSAI) has announced a comprehensive plan to
train approximately 2.5 million food handlers across the country by March 2026.
● The initiative aims to enhance food safety and hygiene standards, especially in institutional canteens
and e-commerce-related facilities.
● 45th Central Advisory Committee (CAC) Meeting
● Chaired by: FSSAI CEO, G. Kamala Vardhana Rao.

Integrated QR-Ticketing System for Namo Bharat and Delhi Metro Launched
● The NCRTC (National Capital Region Transport Corporation) and DMRC (Delhi Metro Rail
Corporation) have introduced a unified QR-ticketing system, enabling seamless travel across Namo
Bharat and Delhi Metro services via their respective mobile apps.
● This initiative simplifies commutes in Delhi-NCR, boosts public transport adoption, and aligns with
the Government’s “One India – One Ticket” vision, emphasizing sustainability and convenience.

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 Important Monthly Current Affairs Capsule – November 2024

NTPC's Ambitious Green Energy Investment Plan: Aiming for Rs 5 Trillion by 2030
● NTPC, India’s largest energy conglomerate, is making significant strides in the green energy sector
with a target of investing Rs 5 trillion by 2030.
● This vision is led by its renewable energy subsidiary, NTPC Green Energy Ltd. (NGEL), which plans
to launch an Initial Public Offering (IPO) worth Rs 10,000 crore.
● These funds will support NTPC’s extensive green energy projects, including renewable power
generation, green hydrogen, sustainable fuels, and energy storage solutions.

Global Freight Summit 2024: Driving Innovation in Logistics and Trade

● The Global Freight Summit 2024 commenced on November 18 in Dubai, hosted by DP World.
Marking its third edition since 2022, the summit brings together over 5,000 industry leaders from 155
countries.
● Themed “Acting to Reach the Opportunities of Tomorrow”, the event focuses on future-ready
strategies in global trade and logistics.
New Nationwide Survey for PMAY-G to Identify 8 Million Rural Housing Beneficiaries
● The Indian government has initiated a nationwide survey using face-recognition tools to identify at
least 8 million beneficiaries for the Pradhan Mantri Awas Yojana-Gramin (PMAY-G).
● This marks a significant step in fulfilling the target of providing 20 million rural houses over the next
five years, with 3.8 million units slated for completion in 2024-25.
● PMAY-G exemplifies the government’s commitment to providing "Housing for All" by 2029.
● By leveraging technology, empowering women, and focusing on socio-economic inclusivity, this
initiative is reshaping India’s rural housing landscape and improving living standards across the
nation.

India-Italy Strategic Partnership: Key Initiatives Announced by PM Modi and PM Meloni

● At the G20 Summit in Rio de Janeiro, Prime Ministers Narendra Modi of India and Giorgia Meloni of
Italy have decided to further strengthen their strategic partnership.
● This includes a series of focused, time-bound initiatives to enhance cooperation across key sectors.
● The joint plan covers various dimensions, ranging from political dialogue to space exploration and
energy transition.

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 Important Monthly Current Affairs Capsule – November 2024

Government Extends Demand Incentives for Electric Cargo Three-Wheelers under PM E-Drive Scheme
● The government has extended demand incentives for electric cargo three-wheelers under the PM E-
Drive scheme at a reduced rate for the current financial year.
● Extension of Incentive Scheme:
o The incentive subsidy for electric cargo three-wheelers under the scheme for 2025-26 was
exhausted earlier this month.
o As a result, the incentive will now apply to 1.25 lakh units for the 2025-26 period, with a
reduced subsidy rate of Rs 2,500 per kWh (down from Rs 5,000), capped at Rs 25,000 per
vehicle.

India and UK Resume Free Trade Agreement Talks, Set Ambitious Goals
● India and the United Kingdom (UK) have renewed their focus on establishing a Free Trade
Agreement (FTA), with India designating the UK as a "priority country" for trade negotiations.
● The decision was finalised following a meeting between Prime Minister Narendra Modi and UK
Prime Minister Keir Starmer on the sidelines of the G20 Summit in Rio de Janeiro, Brazil.
● The FTA is expected to boost Indian exports to the UK by threefold by 2030, aiding India's target of
achieving $1 trillion in merchandise exports by FY30.
● India's exports to the UK rose by 12.38% to $7.32 billion in the first half of 2024-25, with key sectors
including petroleum, machinery, pharmaceuticals, and precious stones.

Union Steel Minister H.D. Kumaraswamy on Building a Technologically Advanced Steel Industry
● Union Steel Minister H.D. Kumaraswamy, while speaking at the National Metallurgists Awards
ceremony, emphasised the pivotal role of the steel sector in India's industrial progress and nation-
building.
● He urged steelmakers to prioritise research and collaboration to establish a globally competitive and
technologically advanced steel industry.

India's Domestic Aviation Recovery: Second Fastest Among Top 20 Global Markets

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 Important Monthly Current Affairs Capsule – November 2024

● According to the latest analysis by OAG, a global aviation data provider, India has witnessed the
second-fastest recovery in domestic seat capacity among the world’s top 20 aviation markets.
● India's domestic seat capacity in 2024 is 12.7% higher than in 2019, showcasing significant recovery
and growth.
● Compared to 2023, seat capacity in India has grown by 8%, driven by fleet expansions by carriers
like Air India and IndiGo, as well as the launch of new routes.
● Among 20 major aviation markets, only China, India, Italy, Mexico, Saudi Arabia, Spain, and Turkey
recorded double-digit seat capacity growth in 2024 over pre-pandemic levels.
● India, with over 6.5 lakh daily seats, is the third-largest aviation market globally, trailing only the
United States and China.

Prime Minister Narendra Modi to Launch 'United Nations International Year of Cooperatives 2025' at
ICA Global Conference in Delhi
● Prime Minister Narendra Modi is set to inaugurate the United Nations International Year of
Cooperatives 2025 during the ICA (International Cooperative Alliance) Global Cooperative
Conference and General Assembly, being hosted for the first time in India from November 25–30,
2024.
● This marks the first time in ICA's 130-year history that its General Assembly and Global Conference
are being held in India, initiated by IFFCO (Indian Farmers Fertilizer Cooperative Limited).
● Theme and Subthemes
o Main Theme: "Cooperatives Build Prosperity for All."
o Subthemes:
▪ Enabling Policy and Entrepreneurial Ecosystems.
▪ Nurturing Purposeful Leadership.
▪ Reaffirming the Cooperative Identity.
▪ Shaping the Future: Realizing Prosperity for All in the 21st Century.

Kerala’s Small-Scale Fishers to Benefit from Innovative Mobile App Designed for Sustainable Fishing

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 Important Monthly Current Affairs Capsule – November 2024

● Researchers from the University of Southampton have developed a mobile app aimed at assisting
small-scale fishing communities in Kerala to address the challenges posed by climate change,
diminishing fish stocks, and other environmental pressures.
● The app allows fishers to share GPS locations of fish schools, sea conditions, and catch details with
others in their community.
● This reduces time and fuel consumption for fishing trips, optimizing resources and enhancing
sustainability.

Government launches Bhu-Neer portal, a centralized platform for managing groundwater withdrawal
permits
● In a bid to improve groundwater management, the government launched the "Bhu-Neer" portal, a
centralized platform for managing groundwater withdrawal permits.
● During the India Water Week 2024, the Hon'ble Minister of Jal Shakti, Shri C.R. Paatil, digitally
launched the newly developed "Bhu-Neer" portal.
● This advanced platform aims to improve groundwater regulation across India, developed by the
Central Ground Water Authority (CGWA) in collaboration with the National Informatics Centre (NIC).

India to Offer $5 Billion Incentives to Boost Electronics Component Manufacturing

● India is preparing to launch a $5 billion incentive scheme to promote the domestic production of
essential electronics components, including printed circuit boards (PCBs), to enhance self-reliance
and reduce dependence on imports, particularly from China.
● This initiative underscores the government’s commitment to building a robust tech manufacturing
ecosystem and positioning India as a global electronics hub.

6th ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee Meeting Concludes in New
Delhi
● The 6th ASEAN-India Trade in Goods Agreement (AITIGA) Joint Committee meeting, along with
related discussions, took place from 15-22 November 2024 at Vanijya Bhawan, New Delhi, focusing
on reviewing the agreement to enhance trade and economic collaboration between India and the 10
ASEAN countries.

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 Important Monthly Current Affairs Capsule – November 2024

● Joint Committee Leadership:

o Co-chaired by:
▪ Shri Rajesh Agrawal, Additional Secretary, Department of Commerce, India.
▪ Ms. Mastura Ahmad Mustafa, Deputy Secretary General (Trade), Ministry of
Investment, Trade & Industry, Malaysia.
o Delegations from all 10 ASEAN countries (Brunei, Cambodia, Indonesia, Lao PDR, Malaysia,
Myanmar, Philippines, Singapore, Thailand, and Vietnam) attended.

Prime Minister Shri Narendra Modi Addresses News 9 Global Summit in Stuttgart: Strengthening Indo-
German Ties for Sustainable Growth
● Prime Minister Shri Narendra Modi addressed the News 9 Global Summit in Stuttgart, Germany, via
video conference.
● The summit, jointly organized by TV9 India, F.A.U. Stuttgart, and Baden-Württemberg, aimed to
foster Indo-German collaboration under the theme "India-Germany: A Roadmap for Sustainable
Growth."
● 2024 marks the 25th anniversary of the Indo-German Strategic Partnership.

Launch of Nayi Chetna 3.0: A National Campaign Against Gender-Based Violence

● Union Minister of Rural Development and Agriculture & Farmers’ Welfare, Shri Shivraj Singh
Chouhan, will inaugurate the third edition of Nayi Chetna – Pahal Badlaav Ki, a national campaign
against gender-based violence.
● The launch event will take place at the Rang Bhawan Auditorium, All India Radio, New Delhi, with
Union Minister of Women and Child Development Smt. Annpurna Devi is also in attendance.

Expansion of e-NAM Platform: Rajasthan Mandis Integration and Growth in Digital Agriculture Trade
● The Ministry of Agriculture has approved the integration of 21 additional mandis in Rajasthan into the
e-NAM (electronic National Agriculture Market) platform.
● This expansion brings the total number of physical markets linked to e-NAM to over 1,400 mandis
across 27 states and union territories.
● Since its launch in April 2016, 1,389 mandis have been incorporated into the e-NAM platform.
● State-wise mandi integration:
o Tamil Nadu: 157

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 Important Monthly Current Affairs Capsule – November 2024

o Rajasthan: 145
o Gujarat: 144
o Madhya Pradesh: 139
o Maharashtra: 133
o Uttar Pradesh: 125
o Haryana: 108

Education Loans Witness Strong Growth Amid New Reforms

● India's education loan sector is experiencing rapid growth, fueled by government initiatives like the
Pradhan Mantri Vidyalaxmi Scheme and increased participation from NBFCs.
● This trend reflects rising demand for higher education, particularly abroad, and efforts to improve
accessibility for students from lower-income families.

India to Replace 90-Year-Old Aircraft Act with the ‘Bharatiya Vayuyan Vidheyak 2024’
● India is set to modernize its aviation regulations by replacing the outdated Aircraft Act of 1934 with
the Bharatiya Vayuyan Vidheyak 2024, a new law aimed at improving aviation safety, boosting
investment, and enhancing consumer rights.
● The bill, which the Lok Sabha already passed, will be presented in the Rajya Sabha for
consideration by Union Civil Aviation Minister Kinjarapu Ram Mohan Naidu.

India’s UDAN 2.0 Scheme: Enhancing Regional Connectivity and Infrastructure

● India is working on the draft for the “UDAN 2.0” scheme, an upgraded version of the original UDAN
(Ude Desh ka Aam Naagrik) initiative.
● The scheme aims to improve last-mile air connectivity and support the development of cost-effective
airport infrastructure across the country.
● This new iteration of the regional air connectivity program is designed to extend beyond 2026 and
address emerging challenges in the aviation sector.

Centre Extends Ban on ULFA for Five Years Over Secessionist Activities
● The Ministry of Home Affairs (MHA) extended the ban on the United Liberation Front of Asom
(ULFA) for five years for continuing to work to secede Assam from India and maintain links with

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 Important Monthly Current Affairs Capsule – November 2024

other insurgent groups for extortion and violence, according to a notification issued by the
ministry.
● The Indian government extended the ban on the United Liberation Front of Asom (ULFA) for five
more years, citing its involvement in activities that threaten India’s sovereignty and integrity.
● The group, active since 1979, was first declared a banned organization in 1990 under the
Unlawful Activities (Prevention) Act (UAPA), 1967, and its ban has been periodically renewed.

Study Reports Drop In HIV Infections By 22%, HIV-related Deaths By 40%

● A new study in The Lancet HIV journal reveals significant progress in reducing the global burden
of HIV (human immunodeficiency virus).
● Still, it underscores that current efforts are insufficient to meet the UNAIDS 2030 targets.
● The study comprehensively analyses trends and future projections for HIV incidence, prevalence,
and mortality across 204 countries.

India Celebrates 75th Anniversary of Constitution Adoption as "Samvidhan Diwas"

● President Droupadi Murmu inaugurated the 75th-anniversary celebrations of the adoption of
India's Constitution, observed as Samvidhan Diwas, at the old Parliament building (Samvidhan
Sadan).
● This historic occasion commemorates the adoption of the Constitution on November 26, 1949,
which came into effect on January 26, 1950.

Cabinet Approves PAN 2.0 Project for Enhanced Taxpayer Services

● The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi,
has approved the PAN 2.0 Project of the Income Tax Department, with a financial outlay of
₹1,435 crore.
● Key Objectives of PAN 2.0 ProjectThe PAN 2.0 Project aims to overhaul the taxpayer registration
system through technology-driven transformation, offering a seamless and enhanced digital
experience for taxpayers.

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 Important Monthly Current Affairs Capsule – November 2024

● The initiative aligns with the Government’s Digital India mission, enabling the use of PAN as a
Common Identifier across digital systems of specified government agencies.

Cabinet Approves ₹7,927 Crore for Three Major Railway Projects

● The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi,
approved three critical railway projects.
● These projects aim to boost connectivity, alleviate congestion, and drive regional economic
growth, with a combined investment of ₹7,927 crore.
Details of the Projects
1. Jalgaon-Manmad Fourth Line
o Length: 160 km
o Purpose: Reduce congestion and improve rail operations on the Mumbai-Prayagraj
route.
2. Bhusawal-Khandwa Third and Fourth Lines
o Length: 131 km
o Scope: Enhance freight and passenger movement across the region.
3. Prayagraj (Iradatganj)-Manikpur Third Line
o Length: 84 km
o Focus: Strengthen connectivity for the Prayagraj region.

Union Cabinet approves National Mission on Natural Farming with an outlay of ₹2,481 crore
● The Union Cabinet, led by Prime Minister Narendra Modi, has launched the National Mission on
Natural Farming (NMNF) as a standalone Centrally Sponsored Scheme under the Ministry of
Agriculture & Farmers' Welfare.
● With a total outlay of ₹2,481 crore(₹1,584 crore by the Centre and ₹897 crore by states), NMNF
aims to revolutionise Indian agriculture by promoting chemical-free natural farming practices.

Government of India Launches ‘Bal Vivah Mukt Bharat’ Campaign

● The Government of India has initiated the ‘Bal Vivah Mukt Bharat’ campaign to eradicate child
marriage, one of the most pressing social evils in the country.
● The campaign is complemented by the launch of the Child Marriage Free Bharat portal to support
its objectives.

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 Important Monthly Current Affairs Capsule – November 2024

● Launch DetailsInaugurated By: Union Minister for Women and Child Development, Smt.
Annpurna Devi.
● Location: New Delhi.
● The campaign is overseen by the Union Ministry of Women and Child Development and will run
until child marriage is eradicated from India.

Dwarka to Unveil India's Longest Golf Course on December 18

● The Dwarka region of Delhi is set to hostIndia's longest golf course, a 7,377-yard, 18-hole facility
sprawling across 159 acres.
● In addition, the golf course will include a nine-hole course designed for short games.
Key Features of the Golf Course
1. Total Area: 159 acres.
2. Main Course: 18 holes, spanning 7,377 yards.
3. Short Course: A separate nine-hole facility.
4. Membership Capacity: Initially 2,000 members, with applications opening this week.

e-Daakhil Portal Now Accessible Nationwide for Consumer Grievances

● The e-Daakhil portal, an innovative platform designed to provide a speedy, inexpensive, and
hassle-free mechanism for filing consumer complaints, is now operational across all states and
union territories, including Ladakh.
Highlights of the e-Daakhil Portal
1. Launch Date: September 7, 2020.
2. Accessibility: Nationwide, with Ladakh being the most recent addition.
3. Objective: To streamline the consumer grievance redressal process, eliminating the need for
physical presence at consumer forums.

IIT Madras and Thales Announce Top Teams in Carbon Zero Challenge 4.0
● The Indian Institute of Technology Madras (IIT Madras), in collaboration with Thales, revealed
the top six teams in the Carbon Zero Challenge (CZC) 4.0, a nationwide contest promoting eco-
innovation.
● This initiative is part of Thales’ CSR and solidarity efforts, aimed at fostering sustainable and
impactful technology.

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 Important Monthly Current Affairs Capsule – November 2024

Amara Raja Infra Completes India’s First Green Hydrogen Fuelling Station in Ladakh
● Amara Raja Infra, a key part of the $2 billion Amara Raja Group, has achieved a significant
milestone by setting up India’s first green hydrogen fuelling station in Leh, Ladakh, for NTPC Ltd.
● This pioneering project supports India's transition to green mobility and the goals of the National
Hydrogen Energy Mission.

Ministry of Mines Pavilion Wins Gold at IITF 2024 for Excellence in Display
● At the India International Trade Fair (IITF) 2024, the Ministry of Mines Pavilion secured the First
Position (Gold) award for its outstanding display, competing against 49 ministries and attracting
over 80,000 visitors.
● The pavilion emphasised the Ministry’s commitment to realizing Prime Minister Narendra Modi’s
vision of a Viksit Bharat by 2047, focusing on innovation, heritage, and sustainability.

Indian Railways Launches ‘Sanraksha’ Mobile App to Boost Passenger Safety

● Indian Railways has introduced the ‘Sanraksha’ mobile application, an innovative step towards
improving passenger safety and security.
● The app leverages advanced technologies like data analytics and has potential future integration
with AI to enhance the capacity of railway staff and ensure safer journeys for passengers.
● Aims to enhance railway safety by providing targeted capacity-building tools for frontline safety
staff.

Government Receives 28 Proposals for Development of New Cities Across India

● The Union Ministry of Housing and Urban Affairs has received 28 proposals from 23 states as
part of the central government’s initiative to develop new cities, addressing the growing demand
for urban expansion.
● This move aligns with the commitment made in February 2021 to establish eight new cities, a
project envisioned to promote sustainable urbanisation.
● Funding Allocation:
o ₹8,000 crore has been allocated by the central government based on the 15th Finance
Commission's recommendations.
o Each of the proposed eight cities will receive ₹1,000 crore for development.

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 Important Monthly Current Affairs Capsule – November 2024

● Eligibility Criteria:
o States are permitted to propose one city each, and proposals are being evaluated by an
expert committee to ensure adherence to the bid parameters and eligibility criteria.

India International Science Festival (IISF) 2024: Transforming India through Science and Technology
● The India International Science Festival (IISF) 2024, India’s largest science celebration, is set to
take place at IIT Guwahati, Assam, from November 30 to December 3, 2024.
● This milestone event, organized by the Council of Scientific and Industrial Research (CSIR) with
CSIR-NIIST as the coordinating body, aims to foster a robust science-society connection and
encourage interdisciplinary collaboration.
● First Edition in North East India: Marks a historic moment as the festival is hosted in this region,
spotlighting its scientific and cultural contributions.
● Theme: “Transforming India into an S&T driven Global Manufacturing Hub,” reflecting the vision
of integrating science, technology, and industrial growth to position India as a leader in global
manufacturing.

Ministry of Tourism Approves Rs 3,295 Crore for Sustainable Tourism Development

● The Ministry of Tourism has approved 40 projects worth over Rs 3,295 crore to promote
sustainable tourism and balance tourist traffic across India.
● These initiatives, spread across 23 states, aim to transform lesser-known destinations into iconic
tourist hubs, stimulate local economies, and enhance tourism infrastructure.

Cybercrime Surge in Telangana, Karnataka, and Maharashtra: Government's Response and Initiatives
● The Ministry of Home Affairs (MHA) has highlighted that Telangana, Karnataka,
and Maharashtra have registered the highest number of cybercrime cases over the last three
years, with Telangana leading the charge.
● Despite high numbers of reported cases, conviction rates remain worryingly low, prompting the
government to intensify efforts with a 13-pronged strategy to curb cybercrime.
Cybercrime Cases in Key States (2020-2022)
● Telangana: 30,596 cases
● Karnataka: 31,433 cases

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 Important Monthly Current Affairs Capsule – November 2024

● Maharashtra: 19,307 cases

12th Edition of the International Tourism Mart (ITM) in Kaziranga, Assam: Promoting Northeast India's
Tourism
● The 12th International Tourism Mart (ITM) was inaugurated in Kaziranga, Assam, to highlight the
vast tourism potential of Northeast India.
● The event, organized annually by the Ministry of Tourism, serves as a significant platform for
promoting the region’s rich cultural, natural, and biodiversity assets to both domestic and
international audiences.
● The event was inaugurated by Union Minister for Tourism and Culture, Gajendra Singh
Shekhawat.

INTERNATIONAL NEWS
43rd International Trade Fair is Scheduled from November 14 to 27
• The annual India International Trade Fair (IITF) is a mega trade show organised at New Delhi’s
Pragati Maidan (Bharat Mandapam) by the India Trade Promotion Organization (ITPO).
• It provides a platform for traders, small businesses, startups, and artisans to showcase their
products and services to domestic and international buyers.
• The fair is held from November 14 to November 27, with November 14-18 for B2B visitors and
November 19-27 for general visitors.
• The theme for the 43rd edition of IITF 2024 is "Viksit Bharat @ 2047".

United States, Japan, and South Korea collaborate to boost digital infrastructure development in India
• The United States, Japan, and South Korea have launched the Digital Infrastructure Growth
Initiative for India (DiGi Framework) to enhance collaboration with India's private sector for
supporting digital infrastructure.
• Participating Organisations:
• U.S. International Development Finance Corporation (DFC)
• Japan Bank for International Cooperation (JBIC)
• Export-Import Bank of Korea (Korea Eximbank)
About DFC:
• Established: December 20, 2019

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 Important Monthly Current Affairs Capsule – November 2024

• Headquarters: Washington, D.C.

• CEO: Scott A. Nathan
• Role: DFC is the U.S. government's development finance institution, dedicated to providing
financing for development projects around the world.
About JBIC :
• Formed : October 1, 1999 through the merger of the Japan Export-Import Bank (JEXIM) and the
Overseas Economic Cooperation Fund (OECF).
• Headquarters : Tokyo, Japan
• President & CEO : Tadashi Maeda

Brazil joins India as the second BRICS nation to refrain from participating in China's Belt and Road
Initiative (BRI)
• Brazil has opted not to join China's Belt and Road Initiative (BRI), becoming the second BRICS
country, after India, to reject the mega project.
• President Lula da Silva's administration, represented by Special Adviser Celso Amorim, stated
that Brazil will explore alternative collaborations with Chinese investors without signing an
accession contract to the BRI.

Arya.ag secures $19.8 million investment from the US International Development Finance Corporation
• Arya.ag, a grain commerce platform, has secured $19.8 million from the US International
Development Finance Corporation (DFC) to guarantee a debt facility for its agri-commerce
subsidiary, Aryatech.
• These funds will be utilised to connect farmers and Farmer Producer Organizations (FPOs) with
buyers across the country, ensuring payment security, transaction transparency, and improved
market access.
• Arya.ag previously raised $29 million in an equity round last quarter, indicating strong investor
interest in the agritech sector.

Ireland to participate in South Africa's ICJ 'genocide' case against Israel

• Ireland has expressed its intention to join South Africa's case against Israel at the International
Court of Justice (ICJ), set to occur before the end of the year.

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 Important Monthly Current Affairs Capsule – November 2024

• South Africa's Role: South Africa initiated the case at the ICJ in December, accusing Israel of
breaching the 1948 United Nations Genocide Convention.
• Israel has strongly denied the accusations.
• Other Supporting Nations: Other countries, including Spain, Bolivia, Colombia, Mexico, Turkey,
Chile, and Libya, have joined or supported the case in solidarity with South Africa.

EC signs agreement on electoral cooperation with Uzbeki poll body

• Event: Signing of an electoral cooperation agreement between the Election Commission of India
(ECI) and Uzbekistan’s Central Election Commission.
• Location: Tashkent, during Chief Election Commissioner Rajiv Kumar’s visit as an international
observer for Uzbekistan’s elections on October 27.
• Objective: To strengthen and deepen cooperation between India and Uzbekistan’s Election
Management Bodies (EMBs).

Taliban to Participate in United Nations Climate Conference for the First Time
• The Taliban will attend a United Nations climate conference (COP29) for the first time since
taking control of Afghanistan in 2021.
• COP29 will be held in Azerbaijan starting on November 11, 2024.
• This conference marks one of the most significant multilateral forums involving the Taliban, who
lack official recognition as Afghanistan's legitimate government.

Discovery of Al-Natah: Ancient Fortified Town in Saudi Arabia

• Site: Al-Natah, a fortified town hidden within the Khaybar oasis in northwest Saudi Arabia.
• Age: Approximately 4,000 years old, dating back to around 2400–2000 BCE.
• Project Leaders: Led by Dr. Guillaume Charloux (CNRS) and Dr. Munirah AlMushawh (Royal
Commission for AlUla).
• Publication: Findings published in the scientific journal PLOS ONE.

Israel Unveils 'New Era of Warfare' with Iron Beam Laser Defence System
• Iron Beam is a high-energy laser weapon system developed by Israel to counter aerial threats
such as missiles, drones, rockets, and mortars.

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 Important Monthly Current Affairs Capsule – November 2024

• It is expected to be operational within a year and will significantly enhance Israel's defence
capabilities.
• It was unveiled in 2014 and is a 100kW class High Energy Laser Weapon System (HELWS).
• The operational range of Iron Beam extends up to 7 km (4.3 miles).
• It is developed by Rafael Advanced Defence Systems, in partnership with Elbit Systems.
About Israel :
• President : Isaac Herzog
• Prime Minister : Benjamin Netanyahu
• Capital : Jerusalem
• Currency : New shekel

United States Deputy Secretary of State Kurt Campbell to Participate in First US-India Indian Ocean
Dialogue in Delhi
● The first United States (US)-India Indian Ocean Dialogue will be held on November 14, 2024,
aimed at deepening cooperation in the Indian Ocean Region.
● US Deputy Secretary of State Kurt Campbell and Principal Deputy National Security Advisor Jon
Finer will attend the event virtually due to flight issues.
● Quad Grouping:The Quad (India, Australia, Japan, and the US) is a key group focusing on the
Indian Ocean Region and has announced the Indo-Pacific Maritime Domain Awareness Initiative,
aimed at improving maritime security in the region.
● Leadership of iCET:The iCET initiative on high-tech cooperation is led by National Security
Adviser Ajit Doval (India) and Jake Sullivan (US).

Climate Change Conference 29 Kicks Off in Baku, Azerbaijan, Aims to Address Global Warming and
Boost Climate Finance for Developing Nations
● The 29th United Nations Climate Change Conference (COP29) began on November 11 in Baku,
Azerbaijan, and will run until November 22, 2024.
● Key Participants: Delegates from approximately 200 countries, business leaders, climate
scientists, Indigenous Peoples, journalists, and other experts and stakeholders are expected to
attend.
● Azerbaijan is the host for COP29, along with the UAE (COP28) and Brazil (COP30), which
together form the "Troika."

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 Important Monthly Current Affairs Capsule – November 2024

● All of these countries have fossil-fuel-dependent economies.

What is COP?:
● COP stands for Conference of Parties, which is the annual meeting of the members of the UN
Framework Convention on Climate Change (UNFCCC).
● The UNFCCC is an international treaty signed in 1992, aimed at stabilizing greenhouse gas
concentrations to prevent dangerous human-induced interference with the climate system.
● Currently, there are 198 parties to the UNFCCC, including 197 countries and the European
Union.
About Azerbaijan :
● President : Ilham Aliyev
● Prime Minister : Ali Asadov
● Capital : Baku
● Currency : Manat

Australia to Launch New Scheme Mobility Arrangement for Talented Early-professionals Scheme in
December 2024 for Talented Young Indians to Work
● From December 2024, Australia will open a new scheme named Mobility Arrangement for
Talented Early-professionals Scheme (MATES) which allows talented young people from India to
work in the country.
● MATES gives Indian university graduates and early career professionals a chance to work in
Australia for two years.
● On 23 May 2023, Australia and India entered into a Migration and Mobility Partnership
Arrangement (MMPA).
● The MMPA is a bilateral framework that supports and promotes two-way migration and mobility
between our two countries while addressing issues pertaining to illegal and irregular migration.

G20 Summit Kicks Off in Brazil ; Prime Minister Narendra Modi to Outline India's Stance on Global
Issues and Key Outcomes of New Delhi Leaders' Declaration

● The G20 Summit marks the conclusion of the year-long work of the country holding the rotating
presidency.

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 Important Monthly Current Affairs Capsule – November 2024

● Heads of state and government approve agreements and address global challenges during the
summit.
2024 G20 Summit in Brazil:
● The summit is scheduled for November 18-19, 2024, in Rio de Janeiro, Brazil.
● Leaders of the 19 member countries, along with representatives from the African Union and the
European Union, will attend.
● Brazilian President Luiz Inácio Lula da Silva is hosting the summit, and world leaders including
Prime Minister Narendra Modi, US President Joe Biden, and China's President Xi Jinping will
participate.
● The theme for the 2024 G20 Summit is "Building a just and sustainable world."
● The 20th edition of the G20 Summit will be hosted by South Africa next year.

UAE Establishes Global Alliance for Energy Efficiency at COP29

● The UAE has unveiled an ambitious initiative to establish the “Global Energy Efficiency Alliance”
during COP29, hosted in Azerbaijan.
● The alliance aims to double global energy efficiency rates by 2030 and significantly reduce
carbon emissions.
About Azerbaijan :
● President : Ilham Aliyev
● Prime Minister : Ali Asadov
● Capital : Baku
● Currency : Manat

Elon Musk criticizes Australia's proposed law to restrict social media access for children

● US billionaire Elon Musk, owner of the social media platform X (formerly Twitter), criticized
Australia's proposed law aimed at banning social media for children under the age of 16.
● Proposed Law Details: The bill introduced by Australia's centre-left government in parliament
includes fines of up to A$49.5 million ($32 million) for social media platforms that fail to comply
with the law.
Previous Global Initiatives:
● France: Proposed a social media ban for children under 15 but allowed parental consent.

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 Important Monthly Current Affairs Capsule – November 2024

● US: Requires technology companies to seek parental consent for children under 13 to access
their data.
● Musk's Previous Disagreements: Elon Musk has previously clashed with Australia's government,
notably referring to its social media misinformation law as "fascist."
About Australia :
● Prime Minister : Anthony Albanese
● Capital : Canberra
● Currency : Australian dollar

Iceland's Volcano Erupts for 7th Time This Year

● A volcano near Iceland's capital Reykjavikerupted, located on the Reykjanes Peninsula in the
southwest of Iceland.
● This was the 7th eruption in the area since December 2023.
● Eruption Details: The fissure length is about 3 kilometres (1.9 miles).
● It was smaller in scale compared to the previous eruption in August 2023, which had a 4-
kilometre (2.5-mile) fissure.
About Iceland :
● President : Halla Tómasdóttir
● Prime Minister : Bjarni Benediktsson
● Capital : Reykjavík
● Currency : Icelandic króna

Kenya Terminates Airport and Energy Agreements with Adani Group Following US Indictments
● Kenya’s president has cancelled multimillion-dollar deals with the Adani Group following US
bribery and fraud indictments against Gautam Adani, one of Asia's richest individuals.
● Adani Group has been awarded a contract to construct power transmission lines in Kenya, a key
infrastructure project for East Africa's business hub.
Kenya :
● President : William Ruto
● Capital : Nairobi
● Currency : Kenyan shilling

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 Important Monthly Current Affairs Capsule – November 2024

Iraq conducts its first nationwide census in almost 37 years

● Iraq launched its first nationwide population census in 37 years, marking the first general census
since 1997.
● The census aims to modernize data collection and address socio-economic challenges in Iraq,
helping with resource allocation, infrastructure development, and planning social services.
About Iraq :
● President : Abdul Latif Rashid
● Prime Minister : Mohammed Shia' Al Sudani
● Capital : Baghdad
● Currency : Iraqi dinar

Russia Deploys Intercontinental Missile in Ukraine War for the First Time: Kyiv
● Ukraine claims that Russia launched an intercontinental ballistic missile (ICBM) at Dnipro city in
central-east Ukraine, marking the first use of such a missile in the ongoing war.
● The missile was reportedly fired from Russia's Astrakhan region, bordering the Caspian Sea.
● Alongside the ICBM, eight other missiles were launched; Ukrainian air defences intercepted six.
● ICBMs are typically designed to carry nuclear warheads, and their use in this context sends a
powerful signal about Russia's nuclear capabilities.
● The attack serves as a reminder of the potential for escalation in the war.

External Affairs Minister Dr. S. Jaishankar Launches Symbiosis International University's First Global
Campus in Dubai
● External Affairs Minister (EAM) Dr. S. Jaishankar presided over the inauguration of Symbiosis
International University’s first overseas campus at Dubai Knowledge Park
● The ceremony was attended by Sheikh Nahyan bin Mubarak Al Nahyan, UAE’s Minister of
Tolerance and Coexistence.
● It aligns with Dubai’s Economic Agenda 33, which aims to transform the emirate’s economy over
the next decade by focusing on human capital development and the education sector.

COP29 Summit Concludes with $300 Billion Agreement

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 Important Monthly Current Affairs Capsule – November 2024

● COP29 climate talks concluded in Azerbaijan with a deal offering $300 billion for climate finance
by 2035.
● This amount is seen as insufficient by developing countries and activists, who had sought $600
billion.
● The $300 billion commitment will be sourced from public finance, bilateral, and multilateral
agreements, with a larger portion coming from private finance.
● Key Climate Finance Framework:The New Collective Quantified Goal (NCQG) was adopted,
aiming for at least $1.3 trillion in climate finance annually by 2035, primarily from private finance,
with contributions from developing nations and multilateral development banks (MDBs).
● Article 6 of the Paris Agreement:Article 6 negotiations on carbon markets were concluded,
though experts raised concerns over its effectiveness and transparency.
● The rules under Article 6.2 were criticised for being "loose and opaque," potentially favouring
free-market approaches.
● Article 6.4 rules on carbon removals raised concerns about insufficient guarantees on
permanence.
About Azerbaijan :
● President : Ilham Aliyev
● Prime Minister : Ali Asadov
● Capital : Baku
● Currency : Manat

Sri Lanka Launches $12.6 Billion Debt Restructuring Program

● Sri Lanka is launching a debt exchange to swap $12.6 billion of its bonds for longer-dated notes
as part of its dollar-denominated debt restructuring.
● Investors can tender their holdings for new international bonds with a 27% haircut on the nominal
amount of existing bonds.
About Sri Lanka :
● President : Anura Kumara Dissanayake
● Prime Minister : Harini Amarasuriya
● Capital : Sri Jayawardenepura Kotte (legislative), Colombo (executive and judicial)
● Currency : Sri Lankan rupee (Rs)

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 Important Monthly Current Affairs Capsule – November 2024

STATE NEWS
Rajasthan Village Advances Towards Zero-Waste with Green Technology Initiatives
• Aandhi is a small village in Jaipur district, approximately 43 km from Jaipur, Rajasthan.
• It is implementing a zero-waste model to manage waste effectively.
About Rajasthan :
• Governor : Haribhau Bagade
• Chief Minister : Bhajan Lal Sharma
• Capital : Jaipur
• National Park : Keoladeo National Park, Ranthambore National Park
• Wildlife Sanctuary : Bassi Wildlife Sanctuary, Kumbhalgarh Wildlife Sanctuary

Andhra Pradesh Chief Minister Chandrababu Naidu Introduces Deepam 2.0 Scheme, Offers Free LPG
Cylinders to Eligible Households
• Andhra Pradesh (AP) Chief Minister (CM) N. Chandrababu Naidu launched the Deepam 2.0
scheme, providing three free LPG cylinders annually to eligible families, as part of the NDA
government's "Super Six" election promises.
• The scheme was officially launched in Eedupuram, Srikakulam district.
• The scheme aligns with the NDA government's election promise to support women. Self-help
groups (SHGs) will also be strengthened, aiming to empower more women as entrepreneurs.
• Financial Commitment: The scheme is expected to cost the state ₹2,684 crore per year.
About AP :
• Governor : Syed Abdul Nazeer
• Chief Minister : N. Chandrababu Naidu
• Capital :Amaravati
• National Park : Papikonda National Park, Rajiv Gandhi (Rameswaram) National Park
• Wildlife Sanctuaries : Coringa Wildlife Sanctuary, Gundla Brahmeswaram Wildlife Sanctuary,
Pulicat Lake Wildlife Sanctuary (BS)

Himachal Pradesh Allocates ₹1 Crore for Establishing Model Health Institutes Throughout the State
• Himachal Pradesh (HP) government has allocated ₹1 crore per assembly constituency to
upgrade one health institute in each of the 68 constituencies to a model health institute.

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 Important Monthly Current Affairs Capsule – November 2024

• Purpose of Funds: The funds will be utilized to purchase essential machinery and equipment
necessary for improving healthcare services at these institutes.
• Mobile Clinic Initiative: Chief Minister Sukhvinder Singh Sukhu launched a mobile clinic bus
service by the Tong-Len Charitable Trust based in Dharamshala, aimed at providing free medical
tests and first-aid to 20,000 people.
About HP :
• Governor : Shiv Pratap Shukla
• Chief Minister : Sukhvinder Singh Sukhu
• National Park : Great Himalayan National Park, Inderkilla National Park, Pin Valley National Park,
Khirganga National Park
• Wildlife Sanctuaries : Chandratal Wildlife Sanctuary (Ramsar Site), Dhauladhar Wildlife
Sanctuary

Mizoram to Issue Special Ration Cards for Non-NFSA Households

• The Mizoram government is launching special ration cards for low-income families not covered
under the National Food Security Act (NFSA).
• The initiative aims to benefit approximately 2,500 families, equating to about 1 lakh individuals
with limited financial means.
About Mizoram :
• Governor : Kambhampati Hari Babu
• Chief Minister : Lalduhawma
• Capital : Aizawl

Karnataka government launches two major flagship programs for start-ups

• The Karnataka government, through its Department of Electronics, IT, and Biotechnology (Bt),
has launched two flagship start-up programs: ELEVATE 2024 and the Karnataka Accelerator
Network (KAN).
• Goal: The state aims to position itself among the top three global start-up ecosystems, leveraging
programs like ELEVATE and KAN.
• ELEVATE 2024 Program:Objective: To support early-stage start-ups with grants and incubation.
• Grant Amount: Provides grants up to ₹50 lakh per start-up.
About Karnataka :

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 Important Monthly Current Affairs Capsule – November 2024

• Governor : Thawar Chand Gehlot

• Chief Minister : Siddaramaiah
• Capital : Bangalore
• National Park : Bannerghatta National Park, Bandipur National Park, Nagarhole National Park,
Kudremukh National Park
• Wildlife sanctuaries : Dandeli Wildlife Sanctuary, Pushpagiri Wildlife Sanctuary, Bhimgad Wildlife
Sanctuary

Uttarakhand set to introduce Uniform Civil Code (UCC) by November 9; draft submitted to Chief
Minister
• The Uniform Civil Code in Uttarakhand is expected to be implemented by November 9,2024
coinciding with the state’s 24th Foundation Day.
• The Rules and Implementation Committee submitted its report to Chief Minister Pushkar Singh
Dhami detailing the procedures for UCC implementation, covering various civil matters.
About Uttarakhand :
• Governor : Gurmit Singh
• Chief Minister : Pushkar Singh Dhami

Madhya Pradesh Increases Women’s Reservation to 35% in All Government Jobs

• New Reservation Percentage: 35% for women in all government jobs across Madhya Pradesh.
• Previous Reservation: Previously set at 33%.
• Categories Covered: The reservation applies to SC, ST, OBC, and General categories, with 35%
of reserved posts allocated to women candidates within each category.
• Cabinet Approval: Proposal approved in a cabinet meeting chaired by Chief Minister Dr. Mohan
Yadav.

LG Ladakh inaugurates 4th LG Cup Horse Polo-2024 tourney

• Occasion: 4th LG Cup Horse Polo Tournament 2024
• Location: Newly constructed Goshan Polo Stadium in Drass, Ladakh
• Inaugurated by: Lieutenant Governor of Ladakh, Brigadier (Dr) BD Mishra (Retd)
• Organized by: Department of Youth Services and Sports, UT Ladakh

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 Important Monthly Current Affairs Capsule – November 2024

Goshan Polo Stadium

• Construction Cost: Rs 6.84 crore

Bengaluru to Launch Its First Digital Population Clock to Monitor Real-Time Demographic Changes
• Bengaluru City’s first digital population clock, which will display real-time estimates of the
population of Karnataka and the country, will be inaugurated at the Institute for Social and
Economic Change (ISEC) in the city.
• It is a joint project of ISEC and the Union Ministry of Health and Family Welfare (MoHFW).
• Purpose and Functionality:The population clock will display real-time estimates of:
• Karnataka's population, updating every 1 minute 10 seconds.

Centre Launches Investigation into the Deaths of 10 Elephants in Bandhavgarh Tiger Reserve
• The Indian government has initiated an investigation into the deaths of 10 elephants at
Bandhavgarh Tiger Reserve, Madhya Pradesh.
• The Wildlife Crime Control Bureau (WCCB), under the Ministry of Environment, Forest and
Climate Change, has formed a team to independently investigate the deaths.
• The Madhya Pradesh government has set up a five-member committee at the state level to
investigate the elephant deaths and submit a report.

Himachal Pradesh’s Bankhandi set to become India's first zoo with IGBC certification: CM Sukhu
• The upcoming Durgesh Aranya Zoological Park at Bankhandi in Kangra district, Himachal
Pradesh, will be India's first zoo to receive IGBC (Indian Green Building Council) certification for
sustainable and eco-friendly initiatives.
• This was announced by Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu.
• IGBC Certification:The zoo has been registered with the IGBC for both building and landscape
certifications, which will validate its adherence to high environmental standards.
• The Indian Green Building Council (IGBC) is part of the Confederation of Indian Industry (CII)
and was established in 2001.
About Himachal Pradesh :
• Governor : Shiv Pratap Shukla
• Chief Minister : Sukhvinder Singh Sukhu
• Capital : Shimla, Dharamshala

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 Important Monthly Current Affairs Capsule – November 2024

Odisha to Roll Out National Education Policy 2020 in Universities Starting This Academic Year
• The Odisha government will implement the National Education Policy (NEP) 2020 across all
state-run universities and affiliated colleges starting from the current academic year.
• The traditional three-year undergraduate courses will be replaced by four-year programs,
allowing students to earn a certificate, diploma, degree, or degree with honours after each year of
study.
About Odisha :
• Governor : Raghubar Das
• Chief Minister : Mohan Charan Majhi
• Capital : Bhubaneswar

West Bengal to unveil policies on global capability centres and semiconductors: IT and Electronics
Minister Babul Supriyo
• IT and Electronics department minister Babul Supriyo announced that the West Bengal
government will soon announce policies focused on global capability centres (GCC) and
semiconductor industries.
• The goal is to position West Bengal as the next IT destination in India.
• Incentives for Technological Companies:The state plans to offer incentives to attract technology
companies, including:
o 100% electric duty waiver
o 100% stamp duty waiver
o 50% property tax waiver
About West Bengal :
• Governor : C. V. Ananda Bose
• Chief Minister : Mamata Banerjee
• Capital : Kolkata

12th Edition of North East Festival to be Held in Delhi

• The 12th edition of the North East Festival will take place from November 15-17, 2024 at the MDC
National Stadium, India Gate, New Delhi.

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 Important Monthly Current Affairs Capsule – November 2024

• Cultural Participation:Over 200 communities from eight North-Eastern States of India will
showcase their unique cultural traits, traditions, and crafts.
• Evolution of the Festival:Initially a cultural showcase, the festival has evolved into a platform for
unity, mutual appreciation, shared experiences, and has grown to become one of Delhi’s major
tourism festivals.
About Delhi :
• Lt. Governor : Vinai Kumar Saxena
• Chief Minister : Atishi Marlena Singh

First Phase of Barda Wildlife Sanctuary and Jungle Safari Inaugurated in Gujarat
• The first phase of the Barda Wildlife Sanctuary and Barda Jungle Safari will be inaugurated at the
Kapurdi check post in Devbhoomi Dwarka, Gujarat.
• This initiative aims to reduce the pressure on the nearby Sasan Gir National Park.
• Promoting Wildlife Tourism: The development of the sanctuary is intended to boost wildlife
tourism in Gujarat, creating a new attraction for nature enthusiasts and tourists.
• Area and Scope: The sanctuary spans approximately 192 square kilometres of the Barda region,
covering both high and low hills. This area has been designated as a wildlife sanctuary for
protection and tourism.
About Gujarat
• Capital: Gandhinagar
• Chief minister: Bhupendrabhai Patel
• Governor: Acharya Devvrat
• NP: Gir National Park, Marine National Park, Velavadar National Park
• Wildlife Sanctuary : Jambughoda Wildlife Sanctuary, Barda Wildlife Sanctuary, Vansda National
Park, Purna Wildlife Sanctuary, Gaga Wildlife Sanctuary

Andhra Pradesh Chief Minister N Chandrababu Naidu inaugurates seaplane demo flight from
Vijayawada's Prakasam Barrage to Srisailam in Nandyal district
• Andhra Pradesh Chief Minister N Chandrababu Naidu launched a seaplane demo flight operation
from Prakasam Barrage in Vijayawada to Srisailam in Nandyal district.
• The initiative is called "Sky Meets Sea," aimed at connecting Vijayawada and Srisailam.

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 Important Monthly Current Affairs Capsule – November 2024

• The service will be managed by the Andhra Pradesh Airports Development Corporation Limited
(APADCL).

Supreme Court Sets New Guidelines to End Child Marriages in Rajasthan by 2030
• The Supreme Court has issued guidelines aimed at the complete elimination of child marriages in
India.
• The focus is on accountability of local panchayats, school authorities, and child protection officers
for any child marriage that occurs under their jurisdiction.
• The Court emphasized the need for a prevention, protection, and prosecution model in enforcing
the Prohibition of Child Marriage Act, 2006.
• National Family Health Survey-5 (NFHS-5) Data:25.4% of women aged between 20-24 years in
Rajasthan were married before the age of 18, highlighting the prevalence of child marriage in the
state.
About Rajasthan :
• Governor: Haribhau Kisanrao Bagade
• Chief Minister : Bhajan Lal Sharma
• Capital: Jaipur
• National Park: Keoladeo National Park, Ranthambore National Park
• Wildlife Sanctuary: Bassi Wildlife Sanctuary, Kumbhalgarh Wildlife Sanctuary

Chief Minister Yogi Adityanath Unveils Uttar Pradesh's First Double-Decker Electric Bus
• Uttar Pradesh Chief Minister Yogi Adityanath launched the state's first double-decker electric bus service
in Lucknow as part of efforts to improve public transportation and eco-friendly conveyance.
● Purpose:The initiative aims to reduce traffic congestion and promote environmental conservation
in urban areas.
About UP :
● Governor : Anandiben Patel
● Chief Minister : Yogi Adityanath
● Capital : Lucknow
● National Park : Dudhwa National ParkWildlife Sanctuary : Bakhira Wildlife Sanctuary,
Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary

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 Important Monthly Current Affairs Capsule – November 2024

Meluri Declared as Nagaland's 17th District

● Meluri has been officially declared the 17th district of Nagaland, following its elevation from a
sub-division of Phek District.
● Meluri is primarily inhabited by the Pochury Naga tribe, adding cultural significance to its district
status.
● Meluri is the 5th district created in Nagaland within the last three years, reflecting an ongoing
administrative restructuring.
Previous Districts Created:
● 2021:
○ Tseminyu district was created from Kohima district.
○ Chümoukedima and Niuland districts created by bifurcating Dimapur district.
● 2022: Shamator district created from Tuensang district in eastern Nagaland.
● These changes have been carried out under the People’s Democratic Alliance government led by
Chief Minister Neiphiu Rio.
About Nagaland :
● Governor : La. Ganesan
● Chief Minister : Neiphiu Rio
● Capital : Kohima
● National Park : Intanki National Park
● Wildlife Sanctuaries : Fakim Wildlife Sanctuary, Puliebadze Wildlife Sanctuary, Rangapahar
Wildlife Sanctuary, Singphan Wildlife Sanctuary

18th Pravasi Bharatiya Divas to Take Place in Bhubaneswar, Odisha, from January 8-10, 2025
• The 18th Pravasi Bharatiya Divas will be held in Bhubaneswar, Odisha, from January 8 to January 10,
2025.
● The event will be inaugurated by Prime Minister Narendra Modi.
● The theme for the 18th PBD Convention is "Diaspora's Contribution to a Viksit Bharat"
(Developed India).
● Purpose of PBD: The PBD Convention commemorates the arrival of Mahatma Gandhi in India
from South Africa on January 9, 1915, and celebrates the contributions of the Overseas Indian
Community to India's development.
About Odisha :

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 Important Monthly Current Affairs Capsule – November 2024

● Governor : Raghubar Das

● Chief Minister : Mohan Charan Majhi
● Capital : Bhubaneswar

Meghalaya to Celebrate ‘Year of Legends’ with Shillong Cherry Blossom Festival Starting November 15
● Meghalaya is celebrating the "Year of Legends" with the return of the Shillong Cherry Blossom
Festival 2024.
● The festival will take place on November 15-16, 2024, at the RDSA Sports Complex in Shillong.
● The Shillong Cherry Blossom Festival, first launched in 2016, is the world's first autumn Cherry
Blossom festival.
About Meghalaya :
● Governor : C. H. Vijayashankar
● Chief Minister : Conrad Sangma
● Capital : Shillong

Bali Jatra Kicks Off in Odisha to Commemorate Ancient Sea-Trade Heritage

● Asia’s largest open-air trade fair, Bali Jatra, started to celebrate Odisha’s ancient sea-trading
history.
● The fair begins on the full moon day of Kartika (October-November) and runs until November 22.
● Bali Jatra, meaning “Journey to Bali,” honours Odisha’s old tradition of traders sailing to distant
lands in boats called Boitas from the Mahanadi River during Kartika Purnima.
About Odisha :
● Governor : Raghubar Das
● Chief Minister : Mohan Charan Majhi
● Capital : Bhubaneswar

Tamil Nadu Proposes ‘Income Distance’ Criteria for Devolution to 16th Finance Commission
● The Tamil Nadu government has asked the 16th Finance Commission to adopt a different
method of measuring per capita income, from nominal to purchase power parity, while calculating
the biggest criterion for devolution of funds between the Centre and the State, namely, ‘income
distance’.

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 Important Monthly Current Affairs Capsule – November 2024

● Income distance measures how far a state's per capita income is from the state with the highest
per capita income.
● States with a greater income gap receive more funds.
About Tamil Nadu :
● Governor: R. N. Ravi
● Chief minister: M. K. Stalin
● Capital: Chennai
● Dance : Bharatnatyam, Karakattam
● National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of
Mannar Marine National Park
● Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird
Sanctuary
● Tiger Reserve: Anamalai Tiger Reserve
● Biosphere Reserve : Agasthyamalai Biosphere Reserve

Chhattisgarh’s Dhudmaras Village Chosen by United Nations World Tourism Organisation for Best
Tourism Village Upgrade Programme
● Dhudmaras, a village in Chhattisgarh's Bastar district, was selected for the United Nations World
Tourism Organisation (UNWTO) Best Tourism Village Upgrade programme, emphasizing
sustainable tourism development.
● Out of the UNWTO initiative, 55 villages worldwide were recognized as Best Tourism Villages in
2024.
● Earlier in 2024, Dhudmaras was among four villages awarded by India’s Union Ministry of
Tourism in the Adventure Tourism category of the Best Tourism Village competition.
About Chhattisgarh :
● Governor : Ramen Deka
● Chief Minister : Vishnu Deo Sai
● Capital : Raipur

Tamil Nadu Leads with the Highest Number of Women Councillors: Report

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 Important Monthly Current Affairs Capsule – November 2024

● Around 46% of the councillors in India are women, and in 19 out of 21 capital cities that have
active urban local bodies, including Patna, Shimla, Ranchi and Bhubaneswar, the figure goes
well over 60%.
● According to a roadmap on urban transformation in India released, among the States, Tamil
Nadu has the highest number of women councillors.
Other top states in the top 10 include:
1. Rajasthan
2. Madhya Pradesh
3. Maharashtra
4. Andhra Pradesh
5. Karnataka
6. Uttar Pradesh
7. Kerala
8. Bihar
9. Chhattisgarh

Karnataka inks MOUs with tech giants to train 1 lakh professionals

● Karnataka government has signed 5 memorandum of understandings (MOUs) with tech giants
including Microsoft, IBM, Intel, Accenture, and the BFSI consortium to skill 1 lakh professionals in
the state.
● The government plans to establish three dedicated Global Innovation Districts in Bengaluru,
Mysuru, and Belagavi, with Bengaluru's district located near Kempegowda International Airport.
● This district will be part of the larger knowledge, well-being, and innovation city (KWIN) initiative,
which aims to make Bengaluru a global hub for innovation and research.
About Karnataka :
● Governor : Thawar Chand Gehlot
● Chief Minister : Siddaramaiah
● Capital : Bangalore

Karnataka Launches GCC Policy with Target of $50 Billion Economic Output by 2029
● Karnataka is the first state in India to unveil a dedicated GCC (Global Capability Centers) policy.

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 Important Monthly Current Affairs Capsule – November 2024

● The policy aims to establish 500 new GCCs by 2029, with the goal of generating 3.5 lakh jobs
and $50 billion in economic output.
● The Nipuna Karnataka programme aims to skill 100,000 individuals in cutting-edge technologies.

Delhi Chief Minister Atishi Marlena Singh Launches Portal to Enable Solar Power Generation and Sale

● Delhi Chief Minister (CM) Atishi Marlena Singh launched the “Delhi Solar Portal” to facilitate
rooftop solar power panel installations, allowing consumers to become “prosumers” (electricity
producers and consumers).
● The portal provides access to incentives for power generation and enables consumers to apply
for subsidies and net metering.
● The Delhi Solar Policy 2023 aims to make 25% of Delhi’s power sources solar-powered by 2027,
including a target of 750MW from rooftop solar projects.
About Delhi :
● Lt. Governor : Vinai Kumar Saxena
● Chief Minister : Atishi Marlena Singh

Karnataka Chief Minister Siddaramaiah announces signing of 21 MoUs worth over ₹46,000 crore
● Karnataka Chief Minister Siddaramaiah highlighted the state's focus on economic growth through
the signing of 21 Memoranda of Understanding (MoUs).
● These agreements have attracted investments worth Rs 46,375 crore and the potential creation
of 27,170 new jobs.
● 669 investment projects have been approved, with a projected investment of Rs 90,027 crore,
leading to approximately 1.74 lakh employment opportunities.
● Karnataka as a Hub for Technological and Industrial Progress:Bengaluru is showcased as a
symbol of technological and industrial growth, hosting the 78th Annual Technical Meet of the
Indian Institute of Metals (IIM).
● The event brings together over 1,700 experts in metals and materials technology.
● Theme of the Event:The theme "Transformational Technologies in Materials and Manufacturing"
focuses on envisioning and implementing innovative solutions for a rapidly evolving world.
About Karnataka :
● Governor : Thawar Chand Gehlot

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 Important Monthly Current Affairs Capsule – November 2024

● Chief Minister : Siddaramaiah

● Capital : Bangalore

Assam to hold business summit in February 2025, to be inaugurated by PM Modi: Chief Minister
Himanta Biswa Sarma
● Assam will host a two-day business summit, Advantage Assam 2.0 – the Global Infrastructure
and Investors’ Summit, in February 2025, aimed at attracting investment and developing the
state's infrastructure.
● The summit will be inaugurated by Prime Minister Narendra Modi on February 24, 2025, and
Union Finance Minister Nirmala Sitharaman will be invited for the valedictory session.
● The first Advantage Assam summit was held in 2018, resulting in investments of Rs 1 lakh crore.
About Assam :
● Governor : Lakshman Prasad Acharya
● Chief Minister : Himanta Biswa Sarma
● Capital: Guwahati
● National Park: Kaziranga National Park, Manas National Park, Nameri National Park
● Wildlife Sanctuary: Garampani Wildlife Sanctuary, Laokhowa Wildlife Sanctuary, Bornadi Wildlife
Sanctuary

Lieutenant Governor VK Saxena Approves Amendments to Align Delhi Legal Metrology Rules with Jan
Vishwas Act, 2023 Regulations

● Lieutenant Governor VK Saxena approved amendments to align the Delhi Legal Metrology
Rules, 2011, with central government regulations under the Jan Vishwas Act, 2023.
● Purpose of Amendments:The changes aim to protect consumers from fraud and malpractice by
retailers, wholesalers, and manufacturers.
Revised Penalties:
Use of Non-Standard Weights/Measures:
■ Retailers: Increased from ₹2,500 to ₹5,000.
■ Wholesale dealers: ₹10,000.
■ Petroleum industry/petrol pumps: ₹50,000.
Manufacture of Non-Standard Weights/Measures:

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 Important Monthly Current Affairs Capsule – November 2024

■ The fine increased from ₹2,000 to ₹1,00,000.

Selling Non-Standard Packages:
■ Retailers: Increased from ₹2,500 to ₹5,000.
■ Manufacturers: ₹25,000.
■ Integration of National Standards: Specific provisions from the Legal Metrology
(Packaged Commodity) Rules, 2011, will be incorporated into the Delhi rules to
ensure uniform regulatory standards.
About Delhi :
● Lt. Governor : Vinai Kumar Saxena
● Chief Minister : Atishi Marlena Singh (AAP)

Delhi Government Unveils Portal for Senior Citizen Pension Scheme

● The Delhi government has introduced a pension scheme for senior citizens, offering monthly
financial assistance to residents aged 60 and above.
● Pension Amounts:
○ ₹2,000 per month for individuals aged 60-69.
○ ₹2,500 per month for individuals aged 70 and above.
○ SC/ST/Minority beneficiaries aged 60-69 will also receive ₹2,500 per month.
● Extended Benefits for Differently-Abled: The government plans to extend pensions to differently-
abled individuals, with a proposed monthly benefit of ₹5,000.

Kerala to Introduce Insurance Scheme for Entire Cattle Population

● Kerala is set to launch an insurance scheme covering the entire cattle population in the state.
● The scheme has been approved by the Centre.
● Government Support for the Dairy Sector : Kerala has launched several initiatives to support the
dairy sector, including:
○ Extending the veterinary ambulance service to all block panchayats in the state.
○ Allocating ₹22 crore for the maintenance of calves.
● Two new schemes were launched:
○ ‘Arunodayam’: Aimed at nurturing heifers into cows with better milk yield.
○ ‘Snehamitram’: A life insurance scheme for dairy farmers, with a premium of ₹10, offered
by Milma's Malabar Union.

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 Important Monthly Current Affairs Capsule – November 2024

About Kerala:
● Capital: Thiruvananthapuram
● Chief Minister: Pinarayi Vijayan
● Governor: Arif Mohammad Khan
● National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park,
Silent Valley National Park, Indira Gandhi National Park

Odisha Government Approves Investment Proposals Worth ₹1.36 Trillion Across Multiple Sectors
● The Odisha government has approved 20 investment projects worth ₹1.36 lakh crore through the
High-Level Clearance Authority (HLCA), which is headed by Chief Minister Mohan Charan Majhi.
● These projects are expected to generate employment for over 74,350 people, contributing
significantly to the state’s economic growth.
● The approved projects span 9 sectors, including:Steel, Chemicals, Aluminium, Aviation fuel,
Green energy and equipment, Apparel and textiles, Power and renewable energy, Cement
● Districts Involved: The projects will be set up in 10 districts across Odisha, such as Jajpur,
Jharsuguda, Khurda, Sambalpur, Ganjam, Kalahandi, Malkangiri, Dhenkanal, Bhadrak, and
Jagatsinghpur.
About Odisha :
● Governor : Raghubar Das
● Chief Minister : Mohan Charan Majhi
● Capital : Bhubaneswar

Narasapur Crochet Lace Craft Receives Geographical Indication Tag

● The Narasapur crochet lace craft has been awarded the Geographical Indications (GI) tag by the
Geographical Indications Registry (GIR) under the Department for Promotion of Industry and
Internal Trade (DPIIT), Ministry of Commerce and Industry.
● The registration date for the GI tag is March 1, 2024.
● Application for GI Tag : The GI tag application was made jointly by:
○ Alankriti Federation (West Godavari District Alankriti Lace Manufacturing Mahila Mutual
Aided Co-operative Societies’ Federation Limited).
○ Narasapur All India Crochet Lace Exporters Association.

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 Important Monthly Current Affairs Capsule – November 2024

○ Andhra Pradesh Handicrafts Development Corporation Limited (APHDC).

BUSINESS NEWS
UPL Ltd. Recognized as Top Patent Cooperation Treaty (PCT) Applicant in Indian Agrochemical
Research
• UPL Ltd., a leading provider of sustainable agricultural solutions, has been honored as the top
PCT applicant in agrochemical research among Indian Science and Technology clusters.
• This recognition comes from the Global Innovation Index (GII) 2024, which ranks global
economies based on their innovation capabilities, highlighting key science and technology hubs.
• UPL Ltd. achieved the highest PCT applications in agrochemical research within Indian S&T
clusters, showcasing its commitment to sustainable agriculture.
• This recognition by GII 2024 reflects UPL's leadership in innovation, aligning with India’s rising
global position in science and technology.
TruAlt Bioenergy Secures Major Ethanol Contract to Support India’s Ethanol Blending Program
• TruAlt Bioenergy has recently secured a substantial contract to supply 300 million liters of
ethanol to Oil Marketing Companies (OMCs) as part of the 2024-25 Ethanol Supply Year (ESY).
• This move supports the Ethanol Blending Program (EBP), aiming to achieve India’s target of 20%
ethanol blending in petrol.
• In addition to this contract, TruAlt Bioenergy has secured 65 million liters of ethanol orders from
private sector clients and 50 million liters of Extra Neutral Alcohol (ENA) for diverse industries.

Government Infuses ₹1,650 Crore into RINL to Address Operational and Financial Challenges
• The Government of India has injected approximately ₹1,650 crore into Rashtriya Ispat Nigam
Limited (RINL), a state-owned enterprise facing significant operational and financial issues.
• This support comprises:
o ₹500 crore allocated towards equity on September 19, 2024.
o A working capital loan of ₹1,140 crore provided on September 27, 2024.
• The Ministry of Steel confirmed that the government is undertaking various measures to ensure
RINL remains a going concern.
• SBICAPS (State Bank of India Capital Markets Ltd) is currently preparing a report to assess the
sustainability of RINL.

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 Important Monthly Current Affairs Capsule – November 2024

AIOCD Warns Against Rapid Medicine Delivery Partnership Between Swiggy Instamart and PharmEasy
• The All India Organisation of Chemists and Druggists (AIOCD) raised serious objections to a
collaboration between Swiggy Instamart and PharmEasy for 10-minute medicine deliveries via
dark stores, citing potential public health risks.
• AIOCD leaders JS Shinde and Rajiv Singhal expressed their concerns in a letter to the Drugs
Controller General of India (DCGI), warning that the model could bypass critical Indian drug
regulations designed to ensure patient safety.
• AIOCD argued that the ultra-fast delivery approach might compromise essential safety protocols
like prescription verification and patient identification, which are vital to prevent misuse and
ensure accurate medication dispensation.

Starlink Agrees to Security and Data Requirements for Indian Satellite Broadband License
• Starlink, Elon Musk’s satellite broadband company, has agreed in principle to meet specific
security and data storage conditions set by the Indian government as part of the licensing criteria.
• These requirements include storing all data within India and demonstrating data interception
capabilities for intelligence agencies if necessary.
• Starlink is expected to formally submit its agreement to the Department of Telecommunications
(DoT).

Reliance Power to Challenge SECI’s Three-Year Ban Amidst Fraud Allegations

• The Solar Energy Corporation of India Limited (SECI), India's top renewable energy agency, has
banned Reliance Power and its subsidiaries from participating in clean energy tenders for three
years.
• The ban follows SECI’s findings of a forged bank guarantee in a bid submission for a renewable
energy tender.
• Reliance Power, led by Anil Ambani, denied any wrongdoing, stating that it was a victim of fraud
by a third party responsible for arranging the bank guarantee.
• The company announced its decision to legally challenge the ban and has filed a complaint with
the Delhi Police's economic offence wing.

Hindalco Crowned World's Most Sustainable Aluminium Company for Fifth Year in a Row

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 Important Monthly Current Affairs Capsule – November 2024

• Hindalco Industries Ltd., the flagship metals company of the Aditya Birla Group, has once again
been ranked as the World’s Most Sustainable Aluminium Company in the 2024 S&P Global
Corporate Sustainability Assessment (CSA).
• Hindalco secured an overall score of 87 points, marking a 9-point increase from the previous
year and placing it 22 points ahead of its nearest competitor.

India's Increased Fuel Exports to the EU Driven by Discounted Russian Oil:

• India’s export of fuels, such as diesel, to the European Union increased by 58% in the first three
quarters of 2024, primarily from refining discounted Russian crude oil.
• The EU and G7 countries imposed a price cap on Russian crude oil in December 2022 to limit
Moscow’s revenue; however, refined oil from Russian crude is not restricted, allowing countries
like India to process and export to price-cap coalition countries.
• India has become Russia's second-largest crude oil buyer, with Russian oil now constituting 40%
of India’s total imports—up from less than 1% before the Ukraine invasion.

HFCL Ltd Secures Key Broadband Network Projects Under BharatNet Phase III in Uttar Pradesh and
Punjab
• HFCL Ltd, a leading telecom equipment manufacturer, has emerged as the lowest bidder for
optical fibre-based broadband projects valued at Rs 13,000 crore under the BharatNet Phase III
initiative.
• The project aims to expand high-speed internet access across rural India, focusing on Uttar
Pradesh (East and West) and Punjab.
• HFCL collaborated with Rail Vikas Nigam Limited (RVNL) and Aerial Telecom Solutions Private
Limited for the UP East and UP West bids, securing contracts worth Rs 6,925 crore.

India’s Rise in Intellectual Property Rights: 2023 WIPO

• India’s commitment to innovation and intellectual property (IP) has paid off, with patent and
industrial design filings doubling between 2018 and 2023, securing the country the 6th position
globally, according to the World Intellectual Property Organisation’s (WIPO) latest report.
• Top 10 Placement: For the first time, India is ranked among the top 10 countries for patents,
industrial design applications, and trademark applications.

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 Important Monthly Current Affairs Capsule – November 2024

• Patent Growth: India recorded 64,480 patent filings in 2023, with a 15.7% increase over 2022,
marking the fifth consecutive year of double-digit growth in patent filings.

Finance Ministry Grants More Autonomy to Key CPSEs for Strategic Investments
• In a strategic shift, the Ministry of Finance has rescinded an eight-year-old directive, enhancing
autonomy for Maharatna, Navratna, and MiniratnaCentral Public Sector Enterprises (CPSEs).
• CPSEs No Longer Need NITI Aayog Approval: Maharatna, Navratna, and Miniratna CPSEs are
now exempt from seeking NITI Aayog’s prior permission for creating financial joint ventures (JVs)
and wholly owned subsidiaries (WoS).

India's CPI inflation spikes to a 14-month high of 6.2% in October 2024

• India’s Consumer Price Index (CPI) inflation for October 2024 rose to 6.21% year-on-year,
surpassing the 6% estimate marking an increase from 5.5% in September.
• This rate exceeds the Reserve Bank of India’s target range of 4% (±2%).
• Food Price Surge:
o Consumer Food Price Index (CFPI) hit a provisional 10.87%, driven by escalating food
costs impacting household budgets.
o Rural vs. Urban Breakdown:
▪ Rural CPI inflation: 6.68%; Food inflation: 10.69%
▪ Urban CPI inflation: 5.62%; Food inflation: 11.09%

Municipal corporations’ borrowings from financial institutions rise over 4x in five years
● Borrowings Rise: Municipal corporations’ borrowings from financial institutions rose from ₹2,886
crore in 2019-20 to ₹13,364 crore in 2023-24.
● Share of Municipal Receipts: Borrowings represented 5.2% of total municipal receipts in 2023-24,
up from 1.9% in 2019-20.
Regional Borrowing Trends
● Top Borrowers: Municipal corporations in Odisha and Telangana had notably higher shares of
borrowings at 14.4% and 15.1%, respectively.
● Per Capita Borrowings: Odisha had the highest per capita borrowing from financial institutions,
reaching ₹1,258 per person in 2022-23.
Municipal Borrowings and Bonds in GDP Context

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 Important Monthly Current Affairs Capsule – November 2024

● Negligible Share in GDP: Municipal borrowings remain low, constituting less than 0.05% of
India’s GDP.
● Municipal Bonds Outstanding: As of March 31, 2024, outstanding municipal bonds totaled ₹4,204
crore (0.01% of GDP), up from ₹1,100 crore in 2005.

NVIDIA and SoftBank Collaborate on AI Supercomputer and Telecom Initiatives

● SoftBank Corp. partners with NVIDIA to enhance AI capabilities within Japan’s industrial and
telecommunications sectors.
● AI Sovereignty: The initiative aims to advance Japan’s sovereign AI capabilities, driving
innovation and creating global revenue opportunities in telecommunications.
● At the NVIDIA AI Summit Japan, CEO Jensen Huang announced that SoftBank will build Japan’s
most powerful AI supercomputer using NVIDIA’s Blackwell platform.
● The future use of NVIDIA Grace Blackwell will further strengthen SoftBank’s AI infrastructure.
● SoftBank successfully piloted the world’s first integrated AI and 5G telecom network through
NVIDIA’s AI Aerial platform.

LIC at the 43rd India International Trade Fair: Showcasing Innovation and Customer-Centric Services
● Aditya Gupta, Executive Director (Corporate Communications) of LIC of India, inaugurated the
corporation's stall at the 43rd India International Trade Fair (IITF) in New Delhi.
● Joining him were J.P.S. Bajaj, Zonal Manager (Northern Zone), and other senior officials.
● Marking its 68th anniversary, LIC remains steadfast in its motto, "Yogakshemam Vahamyaham"
(Your welfare is our responsibility). As one of India’s leading financial institutions, LIC:
● Continues to meet the insurance needs of millions across the nation.
● Adapts to changing customer preferences with innovative products and digitized services.
● Plays a vital role in nation-building and supports social welfare initiatives.

Amazon Expands SEND Program to Boost Indian Exports

● Amazon, the global e-commerce leader, has announced a significant expansion of its Global Selling
Seller Exports and Delivery (SEND) program.
● This initiative is tailored to simplify cross-border shipping for Indian exporters, enhancing their
access to international markets.

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 Important Monthly Current Affairs Capsule – November 2024

Nokia Secures Multi-Billion Dollar Deal with Bharti Airtel for 4G and 5G Expansion in India
● Finnish telecom giant Nokia has announced a multi-year, multi-billion-dollar agreement with India’s
Bharti Airtel to supply 4G and 5G equipment, marking a significant expansion of its presence in one
of the world’s largest telecom markets.
● The agreement involves deploying advanced 4G and 5G equipment across key regions in India,
leveraging Nokia's AirScale portfolio with ReefShark-powered Massive MIMO radios for better
network capacity and coverage.

Tata Cliq Rebrands as Tata Cliq Fashion to Focus on Fashion E-Commerce

● Tata Cliq, the e-commerce platform under the Tata Group, has rebranded itself as Tata Cliq Fashion
to position itself as a dedicated fashion and lifestyle e-commerce destination.
● This strategic shift focuses on offering a wide range of fashion and lifestyle products, including
apparel, footwear, watches, accessories, beauty products, gadgets, and home goods.

University of Wollongong Opens International Campus in GIFT City

● The University of Wollongong (UOW) has officially launched its international campus in GIFT City,
becoming the second Australian university to do so.
● This marks a significant step in enhancing India's financial leadership and innovation.
● The campus will focus on education, research, and business to nurture the next generation of
leaders, with a special emphasis on financial technology (Fintech).

DGGI, RBI, and Banks to Track Real-Time Transactions of Offshore Online Gaming Firms
● In a significant move to address tax evasion by offshore online gaming companies, the Directorate
General of GST Intelligence (DGGI) is collaborating with the Reserve Bank of India (RBI) and
commercial banks to create a mechanism for real-time transaction tracking.
● In FY24, online gaming companies were responsible for tax evasions totaling ₹82,000 crore, which
accounted for 41% of the total ₹2 lakh crore evasion detected that year.
● Many of these firms operate from offshore tax havens like Malta, Curacao, British Virgin Islands, and
Cyprus, making enforcement and compliance difficult.

Chhattisgarh Records Highest Inflation in India (October 2024)

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 Important Monthly Current Affairs Capsule – November 2024

● Chhattisgarh topped the list of Indian states and Union Territories (UTs) with the highest inflation
rate of 8.8% in October 2024, according to data from the National Statistical Office (NSO).
● The national retail inflation rate also surged to 6.2%, breaching the Reserve Bank of India's (RBI)
upper tolerance limit of 6%, driven primarily by rising food prices.
State-Wise Inflation Trends
1. Highest Inflation Rates:
o Chhattisgarh: 8.8%
o Bihar: 7.8%
o Odisha, Uttar Pradesh, Madhya Pradesh: Above 7%
2. Lowest Inflation Rates:
o Delhi: 4%
o West Bengal and Maharashtra: Relatively low levels
3. National Context:
o Among 22 states and UTs surveyed, half reported inflation rates exceeding 6%.

India's Electronic Exports Surge by 23.6% in FY24

● India’s electronics sector showed remarkable growth in FY24, with exports reaching $29.12 billion, a
23.6% increase compared to the previous fiscal year.
● This underscores the country’s expanding footprint in global electronics markets.
Key Highlights
1. Export Markets
The top five destinations for India’s electronics exports were:
● United States
● United Arab Emirates
● Netherlands
● United Kingdom
● Italy
2. State Contributions
● Tamil Nadu emerged as the top-performing state in electronic exports with $9.56 billion, reflecting
a 78% growth year-on-year.
3. Broader Trade Context

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 Important Monthly Current Affairs Capsule – November 2024

● Overall Exports: India’s combined merchandise and services exports for March 2024 were
estimated at $70.21 billion, a slight 3.01% decrease from March 2023.
● Trade Deficit: The overall trade deficit narrowed to $78.12 billion, a significant 35.77%
improvement from FY23, showcasing better balance in trade flows.
● China as a Trading Partner: China retained its position as India's largest trading partner, with
bilateral trade amounting to $118.4 billion in FY24.

National Milk Day 2024: Launch of 'Basic Animal Husbandry Statistics 2024'
● On National Milk Day (November 26, 2024), Union Minister Shri Rajiv Ranjan Singh, along with
Ministers of State Prof. S.P. Singh Baghel and Shri George Kurian, released the annual publication
'Basic Animal Husbandry Statistics (BAHS) 2024' in New Delhi.
● This report, prepared by the Department of Animal Husbandry and Dairying, provides critical data on
the trends and production estimates in India’s livestock and dairy sectors, forming the basis for
policy-making.

Labour Ministry Directs EPFO to Prepare for Employment Linked Incentive (ELI) Scheme Launch
● The Ministry of Labour and Employment has directed the Employees' Provident Fund Organization
(EPFO) to bolster its IT infrastructure and capacity for implementing the Employment Linked
Incentive (ELI) Scheme, which Finance Minister Nirmala Sitharaman announced as part of the Union
Budget 2024–25.

India Targets Foot-and-Mouth Disease (FMD) Eradication by 2030 to Boost Dairy Sector
● India is intensifying efforts to eradicate foot-and-mouth disease (FMD) by 2030, with an intermediary
goal of controlling it by 2025.
● This ambitious initiative, announced by the Union Minister of Animal Husbandry and Dairying Rajiv
Ranjan Singh, aims to enhance milk production, improve livestock productivity, and enable
significant growth in dairy exports.

Union Government: ₹1,115.67 Crore Approved for Disaster Mitigation and Capacity Building Projects
● A high-level committee chaired by Union Home and Cooperation Minister Amit Shah has approved
₹1,115.67 crore for disaster mitigation and capacity-building initiatives across various Indian states.

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 Important Monthly Current Affairs Capsule – November 2024

● This decision comes as the country grapples with an increase in extreme weather events and related
disasters.
● Funds Allocation for Landslide Mitigation:
o ₹1,000 crore will be allocated to mitigate landslide risks in 15 states:
▪ Northeast States: Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram,
Nagaland, Sikkim, Tripura.
▪ Himalayan and Western Ghats States: Himachal Pradesh, Uttarakhand, Karnataka,
Kerala, Maharashtra, Tamil Nadu, and West Bengal.

Government Initiates New Financial Probe into Byju's Amid Corporate Governance Concerns
● The Indian government has launched a fresh investigation into the financial and accounting practices
of Byju's, once a beacon of India's edtech success.
● This action follows an earlier review by the Ministry of Corporate Affairs (MCA) that highlighted
lapses in corporate governance but found no conclusive evidence of financial misconduct.

BANKING AND ECONOMY

Reserve Bank of India's Diwali Initiative: Covertly Transporting 102 Tonnes of Gold from England to
India
• On Dhanteras the Reserve Bank of India (RBI)transported an additional 102 tonnes of gold from
the Bank of England to secure storage facilities within India.
• RBI's Gold Holdings:As per the RBI's 43rd Half Yearly Report on Management of Foreign
Exchange Reserves (April - September 2024), the RBI holds a total of 854.73 metric tonnes of
gold.
• 510.46 metric tonnes of this gold is stored domestically, while 324.01 metric tonnes are held
overseas with the Bank of England and the Bank for International Settlements (BIS).
About RBI :
• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das

Axis Bank Partners with Mintoak to Provide SMEs with Merchant Payments and Business Solutions

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 Important Monthly Current Affairs Capsule – November 2024

• Mintoak and Axis Bank have partnered to promote financial inclusion and enhance digital
payment adoption among small and medium-sized enterprises (SMEs) in the digital ecosystem.
• Platform Details: Axis Bank will use Mintoak’s white-labelled mobile SaaS platform to support
SMEs with merchant payment acceptance, access to transaction reports, and easy service
request submissions through a dedicated app.
• Launch of Neo for Merchants: This partnership has introduced the “neo for merchants” app, a
payment acceptance and commerce enablement solution aimed at simplifying digital payments
and business solutions for SMEs.
About Axis Bank :
• Established : 3 December 1993
• Headquarters: Mumbai, Maharashtra, India
• MD & CEO: Amitabh Chaudhry
• Tagline : Badhti Ka Naam Zindagi

Bank of Baroda launches bob Utsav Deposit Scheme

• Bank of Baroda launched the bob Utsav Deposit Scheme, a special term deposit for a tenure of
400 days, applicable on deposits below ₹3 crore, effective from October 14, 2024.
• Interest Rates:
• General Public: 7.30% p.a.
• Senior Citizens: 7.80% p.a.
• Super Senior Citizens (80+ years): 7.90% p.a.
• Non-Callable Deposits: Up to 7.95% p.a.
• Limited Period Offer: bob Utsav is a limited-time festive offer introduced by BoB.
About BoB :
• Established : 20 July 1908
• Headquarters : Vadodara, Gujarat, India
• MD & CEO : Debadatta Chand
• Tagline : India's International Bank

DBS Bank India: Pioneering Gender Equity Initiatives

• DBS Bank India has been awarded as one of the ‘Best Companies for Women in India’ (BCWI)
2024 for the ninth consecutive year.

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 Important Monthly Current Affairs Capsule – November 2024

• The bank is part of the “Best Companies – Hall of Fame,” recognizing its sustained commitment
to gender equity and diversity.
• Awarding Bodies:The award is presented by Avtar and Seramount, highlighting their recognition
of the bank's initiatives.
• Workforce Representation:Women make up 31% of DBS Bank India's workforce, with a target to
increase this representation to 35% in the next three years.
About DBS Bank India :
• Established : 1994
• Headquarters : Mumbai, Maharashtra
• MD & CEO : Surojit Shome
• Tagline : Live more, Bank less

Insolvency and Bankruptcy Board of India suggests a mediation process for operational creditors under
the IBC
• The Insolvency and Bankruptcy Board of India (IBBI) has proposed new regulations allowing
operational creditors (OCs) to opt for voluntary mediation before initiating insolvency proceedings
against a company.
• Purpose of Mediation: The aim of this proposal is to ease the burden on the judiciary, reduce
delays in the insolvency process, and expedite the Corporate Insolvency Resolution Process
(CIRP).
• Mediation Process: If mediation fails, the mediator will prepare a non-settlement report, which will
be annexed to the application for initiating CIRP before the adjudicating authority (AA).
About IBBI :
• Formed : 1 October 2016
• Headquarters : New Delhi
• Chairperson : Ravi Mittal

Income Tax Department Introduces Monetary Cap for Officers to Waive or Reduce Interest
• The Income Tax Department has introduced a three-layered system for the reduction or waiver of
interest on unpaid taxes:
• According to an order issued by the Department, interest up to ₹50 lakhs can be reduced or
waived by the Principal Commissioner (Pr. CIT) or Commissioner (CIT).

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 Important Monthly Current Affairs Capsule – November 2024

• For amounts between ₹50 lakhs but below ₹1.5 crore, the Chief Commissioner (CCIT) or Director
General of Income Tax (DGIT) has been empowered to provide relief.

Regional Rural Banks Set for Fourth Round of Amalgamation; Number of Banks Expected to Drop from
43 to 28
• Regional Rural Banks (RRBs) are likely to see a fourth round of amalgamation, with the number
of these Banks likely to come down from 43 to 28 through consolidation.
• Objective: This consolidation is part of the government’s ‘One State-One RRB’ goal to streamline
operations and reduce the number of RRBs across the country.
• Amalgamation Process:27 RRBs from 12 states may be consolidated into 12 RRBs.
• The finance ministry has drawn up a state-wise list for the proposed amalgamation.

CARE Ratings gives ‘AA’ rating to Karur Vysya Bank’s fixed deposit scheme
• Karur Vysya Bank (KVB) has been assigned an ‘A1+’ rating for its short-term fixed deposits
aggregating ₹12,000 crore and an ‘AA’ rating (Stable) for its fixed deposits by CARE Ratings.
• Rating Interpretation:‘A1+’ Rating: Indicates a very strong safety level for timely payment of
financial obligations, with the lowest credit risk
• ‘AA’ Rating: Denotes a high degree of safety for timely servicing of financial obligations, with very
low credit risk.

National Stock Exchange Eases Regulations for Dormant Trading Accounts

• The National Stock Exchange (NSE) has revised the period for marking a trading account as
inactive from 12 months to 24 months.
• Account Reactivation: Accounts previously marked as inactive under old guidelines may be
reactivated if deemed active under the new 24-month rule, following an update of client details.
• Expanded Activity Consideration: The new guidelines include trading in IPOs, mutual funds,
sovereign gold bonds, OFS, and buybacks, in addition to equity, F&O, commodities, and
currencies, for determining account activity.
About NSE :
• Founded : 1992
• Location : Mumbai, Maharashtra, India
• Chairperson : Girish Chandr Chaturvedi

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 Important Monthly Current Affairs Capsule – November 2024

• MD & CEO : Ashishkumar Chauhan

Insolvency and Bankruptcy Board of India partners with Indian Banks’ Association to enable asset
auctions via the eBKray platform
• The Insolvency and Bankruptcy Board of India (IBBI) has issued a circular announcing a
collaboration with the Indian Banks’ Association (IBA) to facilitate the auction of assets through
the eBKray platform.
• Objective: To improve outcomes for creditors and bidders by leveraging technology to enhance
transparency and operational efficiency in asset auctions.
• eBKray Platform:A centralized auction platform providing comprehensive details on corporate
debtor assets, including photographs, videos, and geographical coordinates.

Unified Payments Interface Sets New Record in October 2024 with 16.58 Billion Transactions Worth
₹23.50 Lakh Crore, Driven by Festival Season Spending
• According to data shared by the National Payments Corporation of India (NPCI), India’s home-
grown Unified Payments Interface (UPI) technology hit a new record in October, with a total of
16.58 billion transactions amounting to ₹23.50 lakh crore,Festival season spending aided the
45% year-on-year (y-o-y) rise in October UPI transactions.
• Leading UPI Banks:State Bank of India (SBI), HDFC Bank, and YES Bank are the top remitter
and beneficiary banks in the UPI ecosystem.
• Monthly UPI Transaction Data:September 2024 recorded 15.04 billion transactions, totaling
₹20.64 lakh crore.

Securities and Exchange Board of India mandates mutual funds to utilise New Fund Offers proceeds
within 30 days of allotment
• The Securities and Exchange Board of India (SEBI) aims to improve the deployment of funds
raised by asset management companies (AMCs) during New Fund Offers (NFOs) to ensure
timely investment and protect investor interests.
• Deployment Timeline: AMCs are required to deploy funds raised through NFOs within 30
business days of allotment.
• Consequences of Non-Compliance:If AMCs do not meet the 30-day deadline without requesting
an extension, they will be barred from launching new schemes until the funds are deployed.

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 Important Monthly Current Affairs Capsule – November 2024

About SEBI :
• Established: 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters: Mumbai, Maharashtra
• Chairman: Madhabi Puri Buch
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance, GoI.

Banks Request Integration with Reserve Bank of India Platform for Monitoring Liberal Remittance
Scheme Limits
• Banks have approached the Reserve Bank of India (RBI) to integrate with the Centralised
Information Management System (CIMS) for real-time verification of limit utilization under the
Liberal Remittance Scheme (LRS).
• Liberal Remittance Scheme (LRS):Under LRS, Indian citizens can remit up to $250,000 per
financial year for various permissible transactions.
• Real-Time Monitoring:The integration with CIMS will allow banks to track LRS transactions in real
time and flag breaches in the remittance limit.

Securities and Exchange Board of India Proposes ₹1 Crore Minimum Investment, Mandatory Demat
Format for Securitised Debt Instruments
• Markets regulator Securities and Exchange Board of India (SEBI) has proposed a minimum ticket
size or investment threshold of ₹1 crore for the Reserve Bank of India (RBI)-regulated originators
and unregulated entities engaged in securitisation activities.
• Investor Limitations: In private placements, the number of investors for SDIs is limited to a
maximum of 200.
• Exceeding this limit requires the issuance to be classified as a public issue.
About SEBI :
• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)

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 Important Monthly Current Affairs Capsule – November 2024

• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

Banks and Fixed Income Money Market and Derivatives Association of India Explore Transition from
Mumbai Interbank Offer Rate to a Collateralized Rate Framework
• Banks have suggested phasing out the uncollateralized Mumbai Interbank Offer Rate (MIBOR)
and transitioning to a new benchmark for the interest rate derivatives market.
• The Reserve Bank of India (RBI) released a report on October 1, 2024 recommending changes
to MIBOR's methodology and proposing a shift to a new benchmark for derivative products.
• FIMMDA Meeting: The Fixed Income Money Market and Derivatives Association of India
(FIMMDA) held a meeting with banks to discuss the transition from uncollateralized MIBOR to a
collateralized framework, reflecting international standards.

Punjab & Sind Bank Introduces Digital Bank Guarantee Service

• Punjab & Sind Bank (PSB), a public sector bank, has launched an e-Bank Guarantee (e-BG)
facility in partnership with National e-Governance Services Ltd (NeSL).
• The e-BG facility replaces the traditional paper-based bank guarantee issuance, which requires
physical stamping and signatures.
• Secure Transmission: The new facility ensures secure transmission of bank guarantees.
About Punjab & Sind Bank :
• Founded : 24 June 1908
• Headquarters : New Delhi, India
• MD & CEO : Swarup Kumar Saha

RBL Bank and Mahindra Finance receive RBI approval to introduce co-branded credit cards
• Non-bank lender Mahindra Finance announced that it will be launching a co-branded credit card
with RBL Bank.
• Mahindra Finance has received the RBI nod for launching the offering.
• A Mahindra group entity has 3.53% "strategic" stake in RBL Bank which was bought for Rs 417
crore, while RBL Bank is attempting to decrease its reliance on Bajaj Finance to distribute credit
cards.
About RBL Bank, formerly known as Ratnakar Bank Limited :

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 Important Monthly Current Affairs Capsule – November 2024

• Founded : 1943
• Headquarters : Mumbai, Maharashtra
• MD & CEO : R Subramaniakumar

Reserve Bank of India Innovation Hub Launches MuleHunter Artificial Intelligence to Aid Banks in
Detecting Fraudulent Mule Accounts
• The Reserve Bank of India Innovation Hub (RBIH) has created an artificial intelligence and
machine learning (AI/ML) model named MuleHunter AI aimed at detecting mule accounts for
banks and financial institutions.
• The rise of fraud through mule accounts has raised concerns within the financial ecosystem,
prompting the need for effective detection mechanisms.
• The MuleHunter AI model and its applications were presented at the Global Fintech Fest in
August, highlighting its relevance and utility in the fintech space.
• Definition of Mule Accounts: Mule accounts are accounts that are created by one individual but
operated by another, often utilised for illicit activities such as money laundering and tax evasion.

Reserve Bank of India announces 7.53% interest rate on GOI Floating Rate Bond 2034 for the next six
months
• The rate of interest on the Government of India Floating Rate Bond 2034 (GOI FRB 2034)
applicable for the half year October 30, 2024 to April 29, 2025 shall be 7.53% per annum.
• The RBI Floating Rate Savings Bonds are a type of government bond that offers a floating
interest rate.
• RBI Floating Rate Savings Bonds have a seven-year lock-in period.
• Premature withdrawal is generally not allowed, except for senior citizens who can withdraw early
with a penalty after a minimum lock-in period.

Reserve Bank of India Releases 43rd Half-Yearly Report on Foreign Exchange Reserves as of
September 2024
• The Reserve Bank of India (RBI) has released the 43rd half-yearly report on management of
foreign exchange reserves concerning end-September 2024.
• Reserve Growth: Forex reserves increased from $646.42 billion at the end of March 2024 to
$705.78 billion by the end of September 2024.

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 Important Monthly Current Affairs Capsule – November 2024

• Foreign Currency Assets (FCA) : The biggest contributor to India's Forex reserves is foreign
currency assets, followed by gold.
• FCA : FCA is maintained as a multi-currency portfolio comprising major currencies, such as, US
dollar, Euro, Pound sterling, Japanese yen, etc. and are valued in terms of US dollars.

Reserve Bank of India mandates Non-Banking Finance Companies to ensure a minimum of 25%
funding from capital market sources
• The Reserve Bank of India (RBI) has mandated that upper-layer Non-Banking Financial
Companies (NBFCs) must secure a minimum of 25% of their total borrowings from capital market
instruments.
• This includes instruments like:
• Commercial Papers (CPs)
• Non-Convertible Debentures (NCDs)
• External Commercial Borrowings (ECBs)

Reserve Bank of India establishes a net worth requirement of ₹300 crore for central counterparty
authorization
• The Reserve Bank of India (RBI) has updated the criteria for Central Counterparties (CCPs) as of
June 2019.
• Definition of CCP: A Central Counterparty (CCP) is a system provider that uses novation to act
as an intermediary between participants in transactions accepted for settlement.
• It acts as the buyer to every seller and the seller to every buyer, facilitating the settlement of their
transactions.

Securities and Exchange Board of India permits mutual funds to invest in foreign schemes with
exposure to India
• The Securities and Exchange Board of India (SEBI) has authorized mutual funds (MFs) to invest
in foreign funds and unit trusts (UTs) that have up to 25% exposure to Indian equities.
• This decision expands the investment options for domestic funds, particularly in prominent global
schemes, including passive funds that provide diversified market exposure.
• Increased Indian Equity Weight: Indian equities have been gaining higher weights in significant
global indices, making this move timely for investors seeking global diversification.

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 Important Monthly Current Affairs Capsule – November 2024

About SEBI :
• Established: 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters: Mumbai, Maharashtra
• Chairman: Madhabi Puri Buch
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance, GoI.

Franklin Templeton Mutual Fund Introduces New Arbitrage Fund

• Franklin Templeton (India) Mutual Fund has launched the Franklin India Arbitrage Fund.
• It is an arbitrage-focused, open-ended hybrid scheme that seeks to capitalize on arbitrage
opportunities in the cash and derivatives segments of the equity market.
• NFO Details:The New Fund Offer (NFO) period closes on November 18 and will reopen for
continuous sale and repurchase on November 21.
• Investment Strategy:The fund will employ an active investment strategy, adjusting its defensive
or aggressive posture based on available opportunities.

Finance Ministry Seeks Feedback from Sponsor Banks on Proposed Regional Rural Bank Merger
• The Union Finance Ministry has asked sponsor banks to submit comments on the proposed RRB
amalgamation by November 20, 2024.
• Transferee RRB Selection:The RRB with the largest business volume (total deposits and
advances) among those amalgamating in a state will be designated as the transferee RRB.
• The sponsor bank of this transferee RRB will be the one with the largest business volume and
branch network.
About Ministry of Finance :
• Cabinet Minister : Nirmala Sitharaman
• Minister of State : Pankaj Choudhary

Reserve Bank of India Reports That Only 2% of ₹2000 Notes Are Still in Circulation
• The Reserve Bank of India (RBI) initiated the withdrawal of ₹2000 banknotes on May 19, 2023,
citing that their objective of fulfilling currency needs post the demonetization of ₹500 and ₹1000
notes in 2016 had been achieved.

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 Important Monthly Current Affairs Capsule – November 2024

• Current Circulation: As of October 31, 2024, only 2% of the original ₹2000 notes remain in
circulation, equating to ₹6,970 crore, down from ₹3.56 lakh crore on May 19, 2023.
About RBI :
• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das

SBI Mutual Fund Becomes the First to Exceed ₹10 Lakh Crore in Asset Under Management , Leading
ICICI and HDFC
• SBI Mutual Fund (SBI MF) became the first fund house in India to surpass ₹10 lakh crore in
Assets Under Management (AUM), reaching ₹10.99 lakh crore in the September quarter of 2024.
• Growth Comparison:SBI MF saw an 11% growth in AUM from ₹9.88 lakh crore in the June
quarter.
About SBI Mutual Fund :
• Founded : 29 June 1987
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Shamsher Singh

Finance Minister Nirmala Sitharaman leads review meeting on Income Tax Act
• Finance Minister Nirmala Sitharaman chaired a meeting on November 4, 2024 to conduct a
comprehensive review of the Income Tax Act 1961, in line with the announcement made during
the last Union Budget.
• The meeting included key officials from the finance ministry, such as Revenue Secretary Sanjay
Malhotra and Ravi Agarwal, Chairman of the Income Tax Department.
• Sub-Committees Formation: Revenue Secretary Malhotra reported that 22 specialized sub-
committees have been created to evaluate different aspects of the Income Tax Act.

Securities and Exchange Board of India suggests increasing the threshold for high-value debt listed
entities to ₹1,000 crore
• Markets regulator Securities and Exchange Board of India (SEBI) has proposed raising the
threshold for identifying High Value Debt Listed Entities (HVDLEs) to Rs 1,000 crore from Rs 500
crore at present to reduce compliance burdens.

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 Important Monthly Current Affairs Capsule – November 2024

• Currently, an entity having outstanding value of listed non-convertible debt securities of Rs 500
crore and above are referred to as 'High Value Debt Listed Entities'.
• Sunset Clause : Sebi has proposed introducing a sunset clause that would end governance
obligations if an HVDLE's outstanding debt falls below the threshold for a specified period,
providing more flexibility.

Securities and Exchange Board of India to Broaden Scope of Unpublished Price Sensitive Information
• Securities and Exchange Board of India (SEBI) intends to broaden the scope of Unpublished
Price Sensitive Information (UPSI) by including additional items like restructuring plans, proposed
fundraising activities, one-time bank settlements, and other significant corporate actions.
• SEBI has proposed that listed entities disclose outcomes of board meetings discussing price-
sensitive information within 30 minutes of meeting closure.
About SEBI :
• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

Government to Provide Protection for Bankers Against Probe Agencies in Bonafide Decisions
• The Centre plans to amend the Prevention of Corruption Act, 1988 to address concerns from
bankers regarding post-retirement harassment by investigating agencies over bona fide
decisions.
• The amendment aims to improve the credit climate, which is crucial for supporting high economic
growth.
• Improvement in Public Sector Bank NPAs:Gross Non-Performing Assets (NPAs) of public sector
banks have reduced significantly from 14.5% in March 2016 to 2.8% in March 2024, reflecting the
positive impact of earlier reforms and efforts to address bad loans.

Reserve Bank of India Issues Operational Framework for Reclassifying foreign portfolio investment to
foreign direct investment in Case of Investment Limit Breach

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 Important Monthly Current Affairs Capsule – November 2024

• The Reserve Bank of India (RBI) issued an operational framework for the reclassification of
foreign portfolio investment (FPI) to foreign direct investment (FDI) if an FPI breaches the
prescribed investment limit.
• The new directions for reclassification are operative with immediate effect.
• Investment Limit: The prescribed limit for an FPI's investment in an Indian company is less than
10% of the total paid-up equity capital on a fully diluted basis.
About RBI :
• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das

Star India to Produce Web Series on the Reserve Bank of India

• Star India will produce a web series on the Reserve Bank of India's 90-year journey, aimed at
enhancing public understanding of the RBI's role in India’s economy and contributing to financial
literacy.
• The Reserve Bank of India was established in 1935 and completed 90 years in April 2023.
• Selection Process:The RBI issued a Request for Proposal (RFP) in July 2023 for the web series.

Securities and Exchange Board of India directs qualified stock brokers to implement UPI payment
mechanism starting February 1
• The Securities and Exchange Board of India (SEBI) has mandated that qualified stock brokers
(QSBs) offer either a UPI-based block mechanism for trading or a 3-in-1 trading account facility
to clients.
• The new mandate will come into effect on February 1, 2025.
• QSBs are larger brokers considered systemically important due to the number of clients and
volumes generated through them.
About SEBI :
• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)

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 Important Monthly Current Affairs Capsule – November 2024

• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

Shriram Mutual Fund to introduce India's first multi-sector rotation fund

• Shriram Mutual Fund is launching an industry-first Multi-Sector Rotation Fund, which will invest in
3-6 sectors that are expected to outperform in the near-to-long term.
• The fund will adopt a quantamental approach—a blend of quantitative and fundamental analysis.
• The sectors selected will be based on the proprietary Enhanced Quantamental Investment (EQI)
framework, factoring in momentum, fundamentals, macroeconomic indicators, and sentiment.

Reserve Bank of India Expands Forex Transactions Reporting Requirements to Include Spot Deals
• The Reserve Bank of India (RBI) has expanded the reporting of forex transactions to include
foreign exchange spot deals to enhance completeness in the trade repository (TR) of the
Clearing Corporation of India (CCIL).
• USD 1 Million Threshold: FX contracts with clients valued at or above USD 1 million (or
equivalent) must be reported by May 12, 2025.
• USD 50,000 Threshold: FX contracts with clients valued at or above USD 50,000 (or equivalent)
must be reported by November 10, 2025.

Reserve Bank of India Introduces New Domestic Money Transfer Framework with Enhanced Know
Your Customer Standards for Regulated Entities
• The Reserve Bank of India (RBI) had issued a new framework on Domestic Money Transfer
(DMT) in July 2024 for regulated enterprises, requiring stronger Know Your Customer (KYC)
record standards and focusing on banking services and payment systems.
• The new guidelines are effective from November 1, 2024, as per the RBI’s July 24, 2024 circular.

National Payments Corporation of India Launches Auto Top-Up Feature and Raises Transaction Limits
for UPI Lite from November 1, 2024
• The National Payments Corporation of India (NPCI) has launched an auto top-up feature and
increased transaction limits for UPI Lite, effective from November 1, 2024.
• Transaction Limit Update:The transaction limit for UPI Lite has been raised to Rs 1,000 without
entering a PIN, up from the previous limit of Rs 500.

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 Important Monthly Current Affairs Capsule – November 2024

• Wallet Balance Limit:The maximum wallet balance for UPI Lite has been increased from Rs
2,000 to Rs 5,000.

Life Insurance Corporation of India’s New Endowment Plan Age Limit Reduced to 50 Years from 55
Years
• The Life Insurance Corporation of India (LIC) reduced the upper age limit for purchasing its New
Endowment Plan (Plan-914) from 55 years to 50 years, effective October 1, 2024.
• Plan Details:LIC’s New Endowment Plan-914 is a participating endowment policy offering a
combination of protection and savings.
• Minimum entry age is 8 years.
About LIC :
• Founded : 1 September 1956
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Siddhartha Mohanty

Reserve Bank of India Updates Know Your Customer Norms to Comply with Anti-Money Laundering
Regulations
• The Reserve Bank of India (RBI) has announced amendments to the Master Directions on Know
Your Customer (KYC) on November 6, 2024 and the amended provisions in the Master Direction
shall come into force with immediate effect.
• According to the Amendment to the Master Direction - KYC Direction, 2016, regulated entities
(REs) will have to apply the customer due diligence (CDD) procedure at the unique customer
identification code (UCIC) level.

IFC partners with Bajaj Finance to invest $400 million in climate finance initiatives
• The International Finance Corporation (IFC), a part of the World Bank Group, will provide a $400
million loan to Bajaj Finance Limited (BFL).
• This investment is part of BFL's $1 billion fundraising initiative aimed at climate finance
expansion in India.
• Climate Finance Goals:The loan will help BFL increase its outstanding climate loans from $150
million in 2024 to $600 million by 2027, aiding India's low carbon future and national climate
targets.

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 Important Monthly Current Affairs Capsule – November 2024

• It aligns with India’s commitment to cut emissions intensity by 45% by 2030, especially as EECG
is critical to reducing energy consumption and greenhouse gas emissions.
About IFC :
• Formation : July 20, 1956
• Headquarters : Washington, D.C., United States
• Managing Director : Makhtar Diop
• The IFC is an international financial institution that offers investment, advisory, and asset-
management services to encourage private-sector development in less developed countries.
About Bajaj Finance Limited :
• Founded : 25 March 1987
• Headquarters : Pune, Maharashtra
• Chairman : Sanjiv Bajaj
• BFL is a deposit-taking Indian non-banking financial company.

Deutsche Bank invests ₹5,113 crore in its Indian operations

• Deutsche Bank has infused an additional ₹5,113 crore into its Indian operations, marking its
largest capital allocation to India in recent years.
• Purpose of Capital Infusion:The funds will be used to expand Deutsche Bank’s business lines in
India, including corporate banking, investment banking, and private banking.
• Presence in India:Deutsche Bank has been operating in India for 45 years with 17 branches
across the country.
• Its balance sheet size in India was reported at ₹1.45 lakh crore as of March 31, 2024, making it
one of the largest foreign banks in India.
About Deutsche Bank :
• Founded : 10 March 1870
• Headquarters : Frankfurt, Germany
• CEO : Christian Sewing

India and Asian Development Bank Sign $200 Million Loan for Urban Infrastructure Development in
Uttarakhand

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 Important Monthly Current Affairs Capsule – November 2024

• The Government of India (GoI) and the Asian Development Bank (ADB) signed a $200 million
loan to upgrade water supply, sanitation, urban mobility, and other urban services in
Uttarakhand.
• The signatories to the loan agreement for the Uttarakhand Livability Improvement Project were
Ms. Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance, for the
Government of India, and Ms. Mio Oka, Country Director of India Resident Mission, for ADB.
• Objective of the Project:To align with the Government of India’s urban development agenda and
the Government of Uttarakhand’s initiatives for improving urban services.
About ADB :
• Established : 1966
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa
• Membership : 68 members, including 49 regional members (countries in Asia and the Pacific)
and 19 non-regional members (countries outside the region)

Securities and Exchange Board of India Proposes ₹1 Crore Minimum Investment and Mandatory Demat
Format for Securitized Debt Instruments
• Market regulator Securities and Exchange Board of India (SEBI) has proposed new regulations
that include a minimum investment threshold of Rs 1 crore for participants engaged in
securitisation activities.
• This initiative, targeting both RBI-regulated originators and unregulated entities, seeks to
streamline investment processes and protect investor interests.
• Investor Limit:The proposal also introduced limitations on the number of investors in private
placements, allowing securitized debt instruments (SDIs) issued privately to be offered to a
maximum of 200 investors.
About SEBI :
• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

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 Important Monthly Current Affairs Capsule – November 2024

Reserve Bank of India Approves 10-Year Sovereign Green Bonds for Non-Resident Investment under
Fully Accessible Route
• The Reserve Bank of India (RBI) has expanded the list of specified Government securities that
non-residents can invest in under the Fully Accessible Route (FAR) by including 10-year
Sovereign Green Bonds (SGrBs).
• The 10-year SGrBs, to be issued by the Government of India in the second half of the fiscal year
2024-25, are designated as specified securities under FAR.
• Eligible investors include Foreign Portfolio Investors (FPIs), Non-Resident Indians (NRIs),
Overseas Citizens of India (OCIs), and other entities allowed to invest in Government securities
under Debt Regulations.
About RBI :
• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das

Cashfree Payments Pilots Cross Border Payments

• Months after receiving the Payment Aggregator Cross Border (PA-CB) licence, Cashfree
Payments has launched a pilot program enabling overseas customers to transact with key Indian
merchants using UPI and RuPay options, typically restricted to domestic use.
Key Partnerships with Major Indian Brands
• Cashfree has partnered with several well-known Indian brands, including:
• Swiggy (foodtech)
• Zepto (quick commerce)
• Nature’s Basket (premium grocery)
• Nykaa (beauty and fashion)
• Bookmyshow (online ticketing)
• Redbus (travel reservations)
• Vedantu (edtech)

IRDAI Chairman Calls For 100% FDI In Insurance

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 Important Monthly Current Affairs Capsule – November 2024

• Debasish Panda, Chairman of the Insurance Regulatory and Development Authority of India
(IRDAI), recently proposed allowing 100% foreign direct investment (FDI) in the insurance sector
to accelerate the goal of achieving 'insurance for all' by 2027.
• Panda emphasized that insurance is a capital-intensive industry, which requires substantial
financial input to grow.

RBI imposes penalty on South Indian Bank

• The Reserve Bank of India (RBI) has imposed a penalty of Rs 59.20 lakh on South Indian Bank
due to non-compliance with directives on interest rate on deposits and customer service
standards.
• South Indian Bank failed to notify certain customers via SMS, e-mail, or letter regarding penal
charges levied for non-maintenance of minimum/average minimum balance.
• The bank placed liens against specific Non-Resident External (NRE) savings accounts, which
was found to be against RBI’s regulatory norms.

Insurance Regulatory and Development Authority of India to Revise Regulatory Sandbox Guidelines
Following Committee's Recommendations
• The Insurance Regulatory and Development Authority of India (IRDAI) has proposed
amendments to the Regulatory Sandbox norms.
• The changes aim to incorporate a principle-based approach instead of the current rule-based
approach.
• Purpose of Amendments:The amendments are designed to facilitate the adoption of innovative
ideas and new concepts across the entire insurance value chain.
• The goal is to support innovation in insurance products, services, and processes by offering a
more flexible regulatory framework.
About IRDAI :
• Established : 1999
• Headquarters : Hyderabad, Telangana
• Chairperson : Debasish Panda
• The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government
of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance
industries in India.

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 Important Monthly Current Affairs Capsule – November 2024

HDFC Bank Increases Lending Rates By 5 Basis Points For Certain Tenures
• HDFC Bank has revised its Marginal Cost of Funds-Based Lending Rates (MCLR) for select
short-term tenures.
• The revision, effective from November 3, 2024, includes an increase of up to 5 basis points (bps)
for the overnight, one-month, and three-year tenures.
• New MCLR Rates:
• Overnight MCLR: Increased to 9.15% from 9.10%.
• One-month MCLR: Increased to 9.20% from 9.15%.
• Three-year MCLR: Increased to 9.50% from 9.45%.
About HDFC Bank :
• Founded : August 1994
• Headquarters : Mumbai, Maharashtra, India
• CEO : Sashidhar Jagdishan

Securities and Exchange Board of India to Review Proposal for Demerging Equity Exchanges and
Clearing Corporations
• The Securities and Exchange Board of India (SEBI) is evaluating the demerger of equity stock
exchanges and their associated equity clearing corporations (CCs) to ensure more diversified
ownership and enhance independence.
• Objective for Independence and Self-Sufficiency:The proposal aims to make Clearing
Corporations (CCs) independent and self-sufficient, with broad-based ownership and risk-based
participation from clearing members to ensure fairness across Market Infrastructure Institutions
(MIIs).
Public Sector Banks (PSBs) Report 11% Year-on-Year Growth in First Half of FY 2024-25
• Under the leadership of Prime Minister Shri Narendra Modi and Finance Minister Nirmala
Sitharaman, major banking reforms were implemented, including:
• Enhanced Access and Service Excellence (EASE).
• Insolvency and Bankruptcy Code (IBC).
• Establishment of National Asset Reconstruction Company Ltd. (NARCL).
• Amalgamation of Public Sector Banks (PSBs).

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 Important Monthly Current Affairs Capsule – November 2024

Pension Fund Regulatory and Development Authority Calls for Bids to Select System Integrator for
Design, Development, and Maintenance of PFRDA Connect Website
• The Pension Fund Regulatory and Development Authority (PFRDA) launched the PFRDA-
Connect project as part of its Technology Architecture (TARCH) initiative.
• The goal is to enhance PFRDA's digital presence by overhauling its official website to improve
the user experience.
• Bid Invitation and Timeline:PFRDA has invited bids for selecting a System Integrator (SI) to
design, develop, implement, and maintain the PFRDA-Connect platform.
About PFRDA :
• Established : 2003
• Headquarters : New Delhi, Delhi
• Chairman : Deepak Mohanty
• PFRDA is the regulatory body for the overall supervision and regulation of pensions in India.
• It operates under the jurisdiction of the Ministry of Finance in the Government of India.

Visa partners with Affirm to introduce flexible payment card in the US

• Visa has partnered with fintech company Affirm to introduce a single card in the U.S. that
supports both debit transactions and “Buy Now, Pay Later” (BNPL) purchases, catering to the
demand for flexible payment options.
• Visa is also launching this feature in the United Arab Emirates with Liv Bank, with plans to
expand into Europe in the coming months.
• Flexible Credential Feature: Visa's "Flexible Credential" feature, which allows this multi-
functionality, is already available in six Asian markets: Hong Kong, Japan, the Philippines,
Singapore, Thailand, and Vietnam, with plans for expansion over the next year.
About Visa Inc :
• Founded : September 18, 1958
• Headquarters : San Francisco, California, United States
• CEO : Ryan McInerney
About Affirm Holdings, Inc :
• Founded : 2012
• Headquarters : San Francisco, CA, United States
• Chairman & CEO : Max Levchin

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 Important Monthly Current Affairs Capsule – November 2024

Federal Bank raises ₹1,500 crore through inaugural 10-year infrastructure bond issue
• Federal Bank raised ₹1,500 crore through its first 10-year infrastructure bonds, issued on a
private placement basis.
• The bonds carry a coupon rate of 7.76%.
• The issuance included a base amount of ₹750 crore with an additional ₹750 crore greenshoe
option, allowing for extra subscription.
• The bonds were priced with a spread of approximately 80 basis points over the 10-year
benchmark Government Security.
About Federal Bank :
• Founded : 23 April 1931
• Headquarters : Aluva, Kochi, Kerala, India
• MD & CEO : KVS Manian
• Tagline : Your Perfect Banking Partner

Securities and Exchange Board of India Streamlines Registration Process for Select Foreign Portfolio
Investors
• The Securities and Exchange Board of India (SEBI) has announced the introduction of an
abridged application form for Foreign Portfolio Investors (FPIs), which includes auto-populated
fields for certain categories, making the process quicker and easier.
• The simplified form will be implemented after three months, following the release of
implementation standards by the Custodians and Designated Depository Participants Standards
Setting Forum (CDSSF).
About SEBI :
• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership
of the Ministry of Finance (MoF), GoI.

Razorpay introduces venture investment initiative to back early-stage B2B startups

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 Important Monthly Current Affairs Capsule – November 2024

• Fintech major Razorpay has launched its venture investment arm, Razorpay Venture Investment
Program, to support the growth of early-stage B2B startups.
• The program is developed in collaboration with Peak XV Partners and Lightspeed.
• Funding Scope: Each startup can receive up to $1 million in funding, targeting over 50 B2B
founders.
• Target Stage: Focused on startups from pre-seed to Series A across sectors like fintech, e-
commerce, healthcare, education, and logistics.
About Razorpay :
• Founded : 2014
• Headquarters : Bangalore, Karnataka
• Co-founder & CEO : Harshil Mathur

Finance Minister Nirmala Sitharaman Launches National MSME Cluster Outreach Programme, Opens
New SIDBI Branches in Bengaluru, Karnataka
• Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman launched the
National Micro, small and medium enterprises (MSME) Cluster Outreach Programme, organised
jointly by the Department of Financial Services (DFS), Ministry of Finance, Government of India,
and Small Industries Development Bank of India (SIDBI).
• Nari Shakti Branches of Union Bank of India:Four Nari Shakti Branches of Union Bank of India
were inaugurated in Bengaluru, Chennai, Jaipur, and Vishakhapatnam to empower women
entrepreneurs.

State Bank of India, HDFC Bank, and ICICI Bank Included in RBI's 2024 List of Domestic Systemically
Important Banks (D-SIBs)
● The Reserve Bank of India (RBI) announced that State Bank of India (SBI), HDFC Bank and
ICICI Bank will continue to be identified as Domestic Systemically Important Banks (D-SIBs).
● The D-SIB designated banks have to maintain additional Common Equity Tier 1 (CET1) in
addition to the capital conservation buffer.
● In order to be listed as a D-SIB, a bank needs to have assets that exceed 2% of the national
GDP.
● Banks are classified into five buckets under Domestic Systemically Important Banks (D-SIBs).
● Surcharge on CET1:SBI: Additional CET1 requirement of 0.80% (effective from April 1, 2025).

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 Important Monthly Current Affairs Capsule – November 2024

● HDFC Bank: Additional CET1 requirement of 0.40% (effective from April 1, 2025).
● ICICI Bank: Additional CET1 requirement of 0.20% as a percentage of their Risk Weighted
Assets (RWAs)
● Criteria for Identifying D-SIBs:Banks are classified based on size, interconnectedness,
substitutability, and complexity.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Shaktikanta Das

Securities and Exchange Board of India Exempts infrastructure investment trusts, real estate
investment trusts from Allotment Rules in Employee Benefit Schemes
● Markets Regulator Securities and Exchange Board of India (SEBI ) has exempted infrastructure
investment trusts (InvITs) and real estate investment trusts (REITs) from specific lock-in and
allotment restrictions when issuing units to an employee benefit trust under unit-based employee
benefit (UBEB) schemes.
● This will facilitate easier acquisition and distribution of units to employees.
● Objective: The exemption is part of SEBI's efforts to promote ease of doing business, allowing
more straightforward acquisition and distribution of units to employees under UBEB schemes.
About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

Securities and Exchange Board of India Advocates Relaxation of Angel Fund Regulations to Support
Startup Financing
● Market regulator Securities and Exchange Board of India (Sebi) may soon allow angel funds to
expand the scope of investors by including Hindu undivided families (HUFs), family trusts, and
sole proprietorships, among others.

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 Important Monthly Current Affairs Capsule – November 2024

● Accredited Investor Focus: Angel funds may soon be limited to accredited investors (those with
verified net worth and risk understanding), with accreditation verified by a third-party agency.
● Removal of Minimum Investment Requirement: SEBI proposes eliminating the minimum
investment requirement of Rs 25 lakh for angel investors, reducing entry barriers for startup
investments.
● Adjusted Investment Limits:SEBI suggests increasing the cap for investment in a single startup
from Rs 10 crore to Rs 25 crore.
● The minimum investment limit may be reduced from Rs 25 lakh to Rs 10 lakh.

Securities and Exchange Board of India reviews custodian norms, proposes measures to streamline
operations
● The capital market regulator, Securities and Exchange Board of India (SEBI), has proposed
measures to ease operations and compliance for custodians,entities that manage foreign
portfolio investors (FPIs).
● Review of Net Worth Criteria: SEBI has proposed increasing the net worth requirement for
custodians from Rs 50 crore (set in 1996) to Rs 100 crore.
● Existing custodians who do not meet the new threshold will have three years to comply.
● According to SEBI data, custodians managed assets worth Rs 278.5 trillion as of September
2024, a significant increase from Rs 2.7 trillion in March 2002.

Generative Artificial Intelligence Projected to Boost India’s GDP by $359-$438 Billion by FY30: RBI
Deputy Governor Patra
● Generative artificial intelligence (AI) is projected to add between $359 billion and $438 billion to
India's GDP by FY30 (2029-30).
● Increased AI Adoption in Indian Firms: AI integration in production processes by Indian
companies increased from 8% in 2023 to 25% in 2024.
● Digital Banking Integration in Indian Banks:
○ All Indian banks have implemented mobile and internet banking.
○ 75% provide online account opening, digital KYC, and doorstep banking.
○ 60% offer digital lending services, and 50% provide payment aggregator services.
○ 41% use chatbots, 24% have adopted open banking, and 10% have integrated IoT
technology.

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 Important Monthly Current Affairs Capsule – November 2024

○ Private sector banks are leading in technology adoption.

● Global AI Impact on GDP: Generative AI is expected to contribute $7-10 trillion to global GDP
over the next three years.

Reserve Bank of India Issues Directive on Deployment of Note Sorting Machines (NSMs) by Banks in
India
● The Reserve Bank of India (RBI) issued a new directive mandating banks to deploy Note Sorting
Machines (NSMs) that comply with updated standards.
● This directive builds on the guidelines from RBI's circular on July 1, 2022, which specified
authentication and sorting requirements for NSMs.
● RBI, in collaboration with the Bureau of Indian Standards (BIS) and other stakeholders,
developed new standards for NSMs, published as IS 18663: 2024 in the Gazette of India on
March 19, 2024.
● The note sorting machines are used for counting, sorting and bundling of banknotes. These are
primarily used in banks handling currency.

Reserve Bank of India Report Calls for Major Reforms in Civic Bodies to Boost Revenue Generation
● According to a report released by the Reserve Bank of India (RBI), the Municipal corporations
(MCs) in the country need comprehensive reforms to boost their own sources of revenue through
tax reforms, rationalisation of user charges, and strengthening of collection mechanisms to plug
leakages.
● The RBI report, titled ‘Own Sources of Revenue Generation in Municipal Corporations:
Opportunities and Challenges’, analysed budget data from 232 MCs, covering over 90% of
India’s total MCs.
● Revenue Growth: MCs' revenue receipts increased by 20.1% year-over-year to Rs 1.7 trillion in
FY24 (up from Rs 1.42 trillion in FY23 and Rs 1.37 trillion in FY22).
● Own Resource Contribution: The share of own resources in receipts stood at 61.9% in FY24, up
from 59.7% in FY23.
● Revenue Expenditure: The revenue expenditure for MCs increased by 13.9% to Rs 1.49 trillion in
FY24 (from Rs 1.31 trillion in FY23 and Rs 1.23 trillion in FY22).
● Surplus Trends: MCs’ revenue account surplus decreased to Rs 1,034 crore in 2020-21 (from Rs
4,914 crore in 2019-20) but was budgeted at Rs 20,819 crore in FY24.

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 Important Monthly Current Affairs Capsule – November 2024

State Bank of India Aims for $1.25 Billion in India's Biggest Dollar-Denominated Loan of 2024

● State Bank of India (SBI) is reportedly planning to borrow $1.25 billion, which would be the
largest dollar-denominated loan by India’s financial sector in 2024.
● Loan Arrangement and Interest Margin:The five-year loan is being arranged by CTBC Bank,
HSBC Holdings Plc, and Taipei Fubon Bank.
● The interest margin is set at 92.5 basis points above the Secured Overnight Financing Rate
(SOFR), a benchmark rate used in the US for short-term lending.
● Purpose and Location:The loan is being secured for general corporate purposes through SBI’s
branch in the Gujarat International Finance Tec-City (GIFT City).
● Other institutions, such as Cholamandalam Investment & Finance Co. ($300 million loan) and
Union Bank of India’s Sydney branch (A$125 million loan), have also sought foreign funds
recently.
● Designation as a Domestic Systemically Important Bank (D-SIB):The Reserve Bank of India
reaffirmed SBI’s designation as a D-SIB, requiring it to hold additional capital buffers.
● SBI is in the top D-SIB category (bucket 4), which mandates an extra 0.80% in Common Equity
Tier 1 (CET1) by April 2025.
About SBI :
● Established : 1 July 1955
● Headquarters : Mumbai, Maharashtra, India
● Chairman : Challa Sreenivasulu Setty

State Bank of India Increases Marginal Cost of Fund-Based Lending Rate by 0.05%
● State Bank of India (SBI) has increased the Marginal Cost of Fund-Based Lending Rate (MCLR)
by 0.05% for certain tenors.
● One-Year MCLR: The one-year MCLR, which is commonly linked to long-term loans like home
loans, has been raised to 9%.
What is the Marginal Cost of a fund based lending rate?
● Marginal Cost of Funds based Lending Rate (MCLR) is the minimum lending rate below which a
bank is not permitted to lend.
● MCLR replaced the earlier base rate system to determine the lending rates for commercial banks.

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 Important Monthly Current Affairs Capsule – November 2024

Karnataka Bank Unveils Two New Financial Products: 'KBL Peak' Education Loan and 'KBL Genius'
Student Savings Account

● Karnataka Bank Limited. has launched two financial products – ‘KBL Peak’, an education loan
with financing of up to ₹2 crore and comprehensive coverage, and ‘KBL Genius’, a student
savings account featuring free cyber insurance.
KBL Peak:
● Purpose: Education loan designed to support students pursuing higher education in India and
abroad.
● Loan Limit: Up to ₹2 crore.
● Coverage: Tuition fees, accommodation, travel, books, and laptops.
● Additional Features:Pre-admission sanction letter to simplify the admission process.
● Credit life insurance for both the student and the parent for financial protection.
KBL Genius:
● Purpose: A student savings account aimed at helping students manage their finances effectively.
● Variants: Two variants – KBL Genius Signature and KBL Genius Advantage.
About Karnataka Bank :
● Founded : 18 February 1924
● Headquarters : Mangalore, Karnataka, India
● MD & CEO : Srikrishnan Hari Hara Sarma

IDFC First Bank enables real-time tracking for international money transfers via SWIFT

● IDFC First Bank has become the first Indian bank to offer real-time tracking for international
money transfers via SWIFT, enhancing cross-border payment transparency.
● The service is accessible through the bank's mobile application and internet banking platforms,
aligning with the increasing demand for real-time updates on digital financial transactions.
● The new feature is particularly beneficial for transactions under RBI’s LRS, which allows Indian
residents to send up to USD 2,50,000 per financial year for various purposes, including gifts,
education, medical expenses, and investments.
About IDFC First Bank :

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 Important Monthly Current Affairs Capsule – November 2024

● Founded : October 2015

● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : V. Vaidyanathan

Asian Development Bank Boosts Climate Financing Following World’s First Sovereign Guarantees by
U.S. and Japan

● The Asian Development Bank (ADB) will expand its climate-related lending by up to $7.2 billion
following sovereign guarantees from the United States and Japan.
● The U.S. and Japan are the first countries to provide sovereign guarantees for climate finance,
covering risks on certain existing ADB loans to allow for increased lending.
● This strategy could serve as a model for other development banks to follow, especially in line
with the U.N. COP29 climate summit held in Baku, Azerbaijan, focusing on enhancing climate
finance for developing nations.
About ADB :
● Established : 1966
● Headquarters : Manila, Philippines
● President : Masatsugu Asakawa
● Membership : 68 members, including 49 regional members (countries in Asia and the Pacific)
and 19 non-regional members (countries outside the region)

Reserve Bank of India Extends Deadline for Banks and ATM Operators to Implement Cassette Swap
Mechanism
● The Reserve Bank of India (RBI) has given banks and ATM operators some wiggle room for
implementing the cassette swap mechanism for cash replenishment in ATMs.
● The banking regulator has exempted cash recycler machines (CRMs) from the cassette swap
requirement for cash replenishment.
● Additionally, this exemption applies when banks don’t engage outsourced agencies for cash
replenishment in ATMs.
● Now, the RBI has asked banks to expeditiously implement the roadmap for cassette swap
implementation by March 31, 2025.

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 Important Monthly Current Affairs Capsule – November 2024

● Cassette Swap Mechanism : Under the cassette swap mechanism, lockable cassettes filled with
banknotes are used in ATMs that are swapped at the time of cash replenishment.
● This move to exclude the cash recyclers from the cassette swap process is, in fact, a step back
and needs further discussion and debate.

Galaxy Health Insurance launches its first insurance product, 'Galaxy Promise'

● Galaxy Health Insurance Company Limited has launched its first health insurance product,
'Galaxy Promise'.
● The product targets families seeking affordable health coverage.
● The company is jointly promoted by Venu Srinivasan, Chairman Emeritus of TVS Motor
Company and Sundaram-Clayton Ltd, and V Jagannathan, founder of Star Health and Allied
Insurance Company Ltd.
● Managing Director and CEO of Galaxy Health Insurance : G Srinivasan

JPMorgan establishes GIFT City unit to create derivative products

● JPMorgan Chase & Co. has set up a unit in India's Gujarat International Finance Tec-City (GIFT
City), becoming the first global bank to establish such a unit aimed at developing derivative
products.
● The unit will focus on creating derivative products to be offered to clients across Asia-Pacific and
Europe.
About JPMorgan Chase & Co :
● Founded : December 1, 2000
● Headquarters : New York City, United States
● Chairman & CEO : Jamie Dimon

World Bank Increases Lending Capacity by 50%, Pledges $150 Billion for Green Projects and
Developing Economies Over the Next Decade
● The World Bank has increased its lending capacity by 50%, enabling it to offer a record $150
billion over the next decade.

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 Important Monthly Current Affairs Capsule – November 2024

● The World Bank’s primary focus will be on supporting developing economies through this
increased capacity.
● A major portion of the funding will be directed towards green projects, supporting climate action
and the achievement of the Sustainable Development Goals (SDGs).
About World Bank :
● Established : July 7, 1944
● Headquarters : Washington, D.C., United States
● President : Ajay Banga

Asian Development Bank issues first biodiversity and nature-themed bond to fund projects across Asia
and the Pacific
● The Asian Development Bank (ADB) has issued its first biodiversity and nature theme bond to
finance a pool of eligible projects across Asia and the Pacific.
● The bond, valued at A$150 million (approximately US$100 million), has a 10-year maturity and
was purchased by Dai-ichi Life Insurance Company of Japan. It was arranged by Credit Agricole
CIB.
● The bond was issued under ADB's Theme Bonds for Sustainable Development program, in
collaboration with its Environment group.
About ADB :
● Established : 1966
● Headquarters : Manila, Philippines
● President : Masatsugu Asakawa
● Membership : 68 members, including 49 regional members (countries in Asia and the Pacific)
and 19 non-regional members (countries outside the region)

IDFC FIRST Bank unveils exclusive Startup Lounge to support and empower early-stage entrepreneurs
in India
● IDFC FIRST Bank has launched a new Startup Lounge to support early-stage startups and
entrepreneurs in India.
● The lounge is located in Koramangala, Bangalore.
About IDFC FIRST Bank:
● Founded: October 2015.

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 Important Monthly Current Affairs Capsule – November 2024

● Headquarters: Mumbai, Maharashtra, India.

● MD & CEO: V. Vaidyanathan.
● IDFC FIRST Bank was formed through the merger of the banking arm of Infrastructure
Development Finance Company (IDFC) and Capital First, a non-bank financial institution.

HDFC Bank and TOI Host Cyber Security Summit in New Delhi to Mark Fifth Year of Participation in
International Fraud Awareness Week

● HDFC Bank and Times of India (TOI) organized the Cyber Security Summit in New Delhi to mark
the fifth year of HDFC Bank's participation in International Fraud Awareness Week.
● Cyber frauds or cyber crimes are increasingly grabbing headlines and the need for individuals
and institutions to stay vigilant has never been more pressing.
● HDFC Bank launched the 'Stay Safe, Stay Vigil' campaign, featuring 'Vigil Aunty,' a social media
influencer who educates people on recognizing and avoiding common and innovative cyber
frauds.
About HDFC Bank :
● Founded : August 1994
● Headquarters : Mumbai, Maharashtra, India
● CEO : Sashidhar Jagdishan

Public Sector Banks to Introduce Micro, small and Medium Enterprises Credit Model with Loan Range
of ₹25 Lakh to ₹5 Crore
● Most Public Sector Banks (PSBs) are set to launch a credit risk assessment model for MSMEs
(Micro, Small, and Medium Enterprises) to assess loans ranging from ₹25 lakh to ₹5 crore.
● Launch Timeline:November 25, 2024: Bank of India, Punjab & Sind Bank, and Indian Bank to
launch the model.
● November 30, 2024: Six other PSBs (Bank of Baroda, Union Bank of India, UCO Bank, Central
Bank of India, Indian Overseas Bank, and Punjab National Bank) to roll out the model.
● Budget Provisions for MSMEs:Introduction of a ₹100 crore credit guarantee scheme for MSMEs
to improve financial access and recovery post-pandemic.
● Significance of MSMEs in the Economy:MSMEs contribute over 30% of GDP and nearly 50% of
exports in India, making them vital for economic growth.

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 Important Monthly Current Affairs Capsule – November 2024

Government Set to Urge Banks to Return Unclaimed Deposits to Beneficiaries

● The government will nudge banks to begin a new campaign to trace unclaimed account holders
or their legal heirs to return their deposits.
● The total amount of unclaimed deposits has crossed ₹78,000 crore.
What is the meaning of unclaimed deposits?
● Balances in savings / current accounts which are not operated for 10 years, or term deposits not
claimed within 10 years from date of maturity are classified as “Unclaimed Deposits”.
● These amounts are transferred by banks to the “Depositor Education and Awareness” (DEA)
Fund maintained by the Reserve Bank of India.
● As of March 31, 2024, the DEA Fund holds ₹78,812.25 crore.

Canara Bank designates RCom and its subsidiary as 'fraud' accounts

● Canara Bank has classified Reliance Communications (RCom) and its subsidiary, Reliance
Telecom, as "fraud" accounts due to non-utilization of funds as per the sanctioned terms.
● Canara Bank had sanctioned a loan of Rs 1,050 crore to Reliance Communications.
● Non-Performing Asset (NPA):Reliance Communications was classified as a non-performing
asset (NPA) in March 2017.
● Insolvency Process:Ericsson India initiated insolvency proceedings against Reliance
Communications, leading to the company's admission into the Corporate Insolvency Resolution
Process (CIRP) in May 2018.
About Canara Bank :
● Founded : 1906
● Headquarters : Bengaluru, Karnataka, India
● MD & CEO : K Satyanarayana Raju
● Tagline : Together we can

Unifi Asset Management receives SEBI approval to launch mutual fund operations

● Unifi Asset Management Private Limited, a subsidiary of Unifi Capital, has received final approval
from the Securities and Exchange Board of India (SEBI) to launch its mutual fund operations.

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 Important Monthly Current Affairs Capsule – November 2024

● Company Background:Unifi Capital, established in 2001 as a portfolio manager, currently

manages assets worth Rs 27,000 crore as of October 31, 2024.
● Founder of Unifi Capital : Sarath Reddy
● CEO of Unifi Mutual Fund : George Alexander

Public Sector Banks Focus on Expanding Corporate Loan Portfolio and Infrastructure Lending
● Large Public Sector Banks (PSBs) like State Bank of India (SBI), Punjab National Bank (PNB),
Canara Bank, and Bank of India are expanding their corporate loan books, particularly in sectors
such as infrastructure, energy, and renewable energy.
● Loan Growth : State Bank of India (SBI) reported an 18.35% YoY growth in its corporate loan
book for the September quarter and is targeting 14-16% growth in FY25, supported by a
corporate pipeline worth Rs 6 lakh crore.
● Canara Bank aims for a 10% growth in its corporate loan book.
● Bank of India saw a 9.16% growth in its corporate book for Q2 FY25, with a strong focus on
energy sector demand.

Reserve Bank of India cancels licence of Vijayawada-based Durga Co-operative Urban Bank
● The Reserve Bank of India (RBI) cancelled the licence of Vijayawada-based The Durga Co-
operative Urban Bank as the lender does not have adequate capital and earning prospects.
● The Commissioner for Cooperation and the Registrar of Cooperative Societies, Andhra Pradesh,
has been instructed to initiate the winding-up process and appoint a liquidator.
● Deposit Insurance:Depositors will be entitled to insurance claims up to ₹5,00,000 under the
Deposit Insurance and Credit Guarantee Corporation (DICGC) Act, 1961.

Reserve Bank of India to Launch Cloud Services in 2025, Aiming to Challenge Global Firms'
Dominance
● The Reserve Bank of India (RBI) plans to launch a pilot programme for cloud services in 2025 to
offer local cloud data storage for financial firms at affordable rates.
● Competitors:The initiative will challenge global cloud giants like Amazon Web Services, Microsoft
Azure, Google Cloud, and IBM Cloud in India’s growing cloud services market.
● Market Insights:India’s cloud services market was valued at $8.3 billion in 2023 and is projected
to grow to 24$.2 billion by 2028.

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 Important Monthly Current Affairs Capsule – November 2024

● Currently, the market is dominated by foreign firms.

● Development and Funding:The project is spearheaded by the RBI's research wing, Indian
Financial Technology and Allied Services (IFTAS).
● EY has been appointed as an advisor to the project.
● Initial funding of ₹229.74 billion will come from the RBI's Asset Development Fund.

State Bank of India Raises ₹10,000 Crore Through Seventh Infrastructure Bond Issuance at 7.23%
Coupon Rate for 15-Year Tenure
● State Bank of India (SBI) has raised ₹10,000 crore at a coupon rate of 7.23 per cent through its
seventh infrastructure bond issuance, payable annually for a tenor of 15 years.
● The instrument is rated AAA with stable outlook.
● Funds raised through infrastructure bonds are exempt from regulatory reserve requirements like
the Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR).
● Unlike deposits, where banks must maintain 4.5% CRR and invest approximately 18% in
securities for SLR compliance, the proceeds from infrastructure bonds can be fully deployed for
lending activities, providing greater flexibility.

State Bank of India to open 300-400 branches annually in the medium term

● The State Bank of India (SBI) plans to open 300-400 branches annually in the medium term.
● The bank aims to increase financial service penetration in India by setting up branches in
residential colonies and underserved areas.
● SBI conducted an extensive micro-market survey to identify areas lacking financial services,
leading to the target of 500 new branches.
● As of September 2024, SBI has 22,640 branches, an increase from 15,870 branches in March
2014.
● SBI is ranked 17th in the world in terms of market capitalization.

Securities and Exchange Board of India proposes major revisions to small and medium enterprises
listing norms to improve transparency and governance

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 Important Monthly Current Affairs Capsule – November 2024

● The Securities and Exchange Board of India (SEBI) has proposed stricter listing regulations for
small and medium enterprises (SMEs) due to concerns over misuse of funds and inflated prices
in initial public offerings (IPOs).
● The proposals include measures such as enhanced eligibility conditions, tighter corporate
governance, and increased scrutiny of IPO fund usage.
● Enhanced Eligibility Conditions: Proposed increase in minimum issue size to Rs 10 crore.
● SMEs must show a minimum operating profit of Rs 3 crore in at least two of the last three
financial years before filing for an IPO.
● Minimum application value to be doubled to Rs 2 lakh.
● Restrictions on Offer for Sale (OFS):OFS limit to be restricted to 20% of the issue size.

Paytm UPI Expands Globally; Users Can Now Make Payments at Select International Locations
● One97 Communications Limited (OCL), which owns the brand Paytm, has enabled Paytm users
to make UPI payments at select international locations.
● Indian travellers can now use their Paytm app to make seamless, cashless payments at
destinations where UPI is accepted, including popular spots in the UAE, Singapore, France,
Mauritius, Bhutan, and Nepal.
● This enhancement allows users to conveniently pay for all use cases including shopping, dining,
and local experiences abroad using UPI through their Paytm app.
● Travellers can choose a usage period from 1 to 90 days based on their trip and can deactivate
the service anytime to ensure payments are only made when intended.
About One97 Communications Limited :
● Founded : 2000
● Headquarters : Noida, Uttar Pradesh, India
● CEO : Vijay Shekhar Sharma

Sachin Bansal's Navi Surpasses Cred to Become the 4th Largest UPI App

● Navi, a fintech app owned by Sachin Bansal, grew 31% in October 2024 compared to September,
overtaking Cred to become the fourth-largest UPI app in India.
● Navi registered 158 million UPI transactions in October, up from 120 million in September.
UPI Market Share Breakdown (October 2024):

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 Important Monthly Current Affairs Capsule – November 2024

● PhonePe: 47.67% market share (dominates UPI transactions).

● Google Pay: 37.39% market share.
● Paytm: 7.02% market share.
● Navi and Cred each hold around 1% market share.
● super.money: Approximately 0.3% market share, marking a 3x growth from the previous month.

Finance Minister Nirmala Sitharaman Releases ₹100 Commemorative Coin Celebrating 100 Years of
SBI's Horniman Circle Branch
● Finance Minister Nirmala Sitharaman unveiled a specially minted ₹100 commemorative coin to
mark the centenary of SBI's Horniman Circle Branch.
● Along with the coin, the 5th edition of "The Evolution of the State Bank of India" was released,
covering the transformative period between 1981 and 1996 in SBI's history.
● Commemorative Coin Details:The ₹100 coin is the 19th commemorative coin of 2024, minted by
the India Government Mint, Mumbai.
● The metal composition of the coin includes 50% Silver, 40% Copper, 5% Nickel, and 5% Zinc.
● The coin weighs 35 grams and has a diameter of 44 mm, with 200 serrations along the edge.
● This is the second commemorative coin issued for SBI, following the ₹100 and ₹5 coins released
during the Bicentenary Year of SBI in 2006.

Matrimony.com Launches 'Weddingloans.com' Platform to Provide Wedding Loans

● Matchmaking service provider Matrimony.com has launched a new financial technology platform,
Weddingloans.com, designed to provide financial assistance for marriages.
● The platform has partnered with prominent financial institutions such as IDFC, Tata Capital, and
Larsen & Toubro Finance to offer a comprehensive loan solution for wedding-related expenses.
About Matrimony.com :
● Founded : 14 April 1997
● Headquarters : Chennai, Tamil Nadu, India
● CEO : Murugavel Janakiraman

IndusInd Bank Limited, Bharat Financial Inclusion Limited partner with Agriculture and Farmers Welfare
Ministry to launch an initiative supporting Farmer Producer Organizations

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 Important Monthly Current Affairs Capsule – November 2024

● IndusInd Bank Limited (IBL) and Bharat Financial Inclusion Limited (BFIL) have partnered with
the Ministry of Agriculture and Farmers Welfare to launch the Bharat Sanjeevani Krishi Utthan
initiative.
● Objective of the Initiative:Supports the government’s flagship program, "Formation and Promotion
of 10,000 Farmer Producer Organizations (FPOs)".
● Geographic Coverage:The initiative will be implemented across 11 states:
● Andhra Pradesh, Bihar, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Odisha,
Rajasthan, Telangana, Uttar Pradesh, West Bengal.
About IndusInd Bank Limited :
● Founded : April 1994
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Sumant Kathpalia
● Tagline : We care Dil se; we make you feel Richer
About Bharat Financial Inclusion Limited :
● Founded : 1997
● Headquarters : Hyderabad, India
● Founder : Vikram Akula

Reserve Bank of India Extends Supersession of Abhyudaya Cooperative Bank Ltd.'s Board for 12 More
Months Starting November 24, 2024
● The Reserve Bank of India (RBI) has exercised its powers under Section 36AAA and Section 56
of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) to take action
against the governance issues at Abhyudaya Cooperative Bank Limited.
● Legal Framework: The supersession is in line with the provisions of the Banking Regulation Act,
1949, specifically Section 36AAA and Section 56, which allows the RBI to intervene in the
governance of cooperative banks to ensure proper management and protect public interest.

Department of Investment and Public Asset Management Releases Updated Capital Restructuring
Guidelines for Central Public Sector Enterprises
● The Finance Ministry has come out with revised guidelines regarding capital restructuring of
Central Public Sector Enterprises (CPSEs).

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 Important Monthly Current Affairs Capsule – November 2024

● These “include norms related to dividend payout, split of shares, buyback, and issuance or bonus
of shares among others.
● Minimum Dividend Payout: Every CPSE must pay a minimum annual dividend of 30% of its Profit
After Tax (PAT) or 4% of its net worth, whichever is higher, subject to existing legal provisions.
● Specific Guidelines for CPSE NBFCs: CPSEs in the financial sector, such as Non-Banking
Financial Companies (NBFCs), are required to pay a minimum annual dividend of 30% of PAT or
5% of net worth, whichever is higher.
About Ministry of Finance :
● Cabinet Minister : Nirmala Sitharaman
● Minister of State : Pankaj Choudhary

Reserve Bank of India Creates Booklets in Santali Language to Promote Financial Awareness Among
Tribals

● To create financial literacy awareness among the tribal population, the Reserve Bank of India
(RBI), Odisha office has prepared five specific booklets in Santali (Ol Chik) language.
● Odisha's Chief Minister, Mohan Charan Majhi, unveiled the booklets at the Bali Jatra festival in
Cuttack.
● In addition to Odisha, the booklets will be distributed in states like Jharkhand, Bihar, West Bengal,
Assam, and Tripura, where there is a significant Santali-speaking population.

Private Consumption Resumes as Key Driver of Domestic Demand: Reserve Bank of India
● As per the Reserve Bank of India’s (RBI) article ,the slowdown in the second quarter of FY 2024-
25 has been overcome, with private consumption once again driving domestic demand.
● Festival-related consumption and a recovering agriculture sector are contributing to the
economy's resilience.
● In October 2024, the Consumer Price Index (CPI) surged to a 14-month high of 6.21%, higher
than 5.5% in September.
● Direct-to-Consumer (D2C) and Quick-Commerce:D2C brands are seeking funds to expand,
particularly in the quick-commerce (q-com) platform, a growing sector expected to reach $30
billion by 2029-30.

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 Important Monthly Current Affairs Capsule – November 2024

Top Banks Compete for ₹27,000 Crore Loan from PSU Refinery
● India’s top lenders are vying to finance a ₹39,000 crore refinery project being developed by
Chennai Petroleum Corporation (CPCL) and Indian Oil Corporation (IOC) in Tamil Nadu.
● The loan constitutes about 70% of the project cost (₹27,000 crore), with the remaining 30%
(₹12,000 crore) being financed through equity.
● Project Details:The refinery project is being set up by Cauvery Basin Refinery and
Petrochemicals Ltd (CBRPL), a joint venture established in January 2023 between Indian Oil
Corp. (IOC) and Chennai Petroleum Corp. (CPCL), with a 75:25 shareholding ratio.
● The proposed refinery will have a capacity of 9 million tonnes per annum (mtpa) and will be
located at Nagapattinam, Tamil Nadu.

Insolvency and Bankruptcy Board of India Suggests Mandatory Monitoring Committees for Resolution
Plans

● The Insolvency and Bankruptcy Board of India (IBBI) has proposed the introduction of monitoring
committees for implementing resolution plans under the Insolvency and Bankruptcy Code (IBC).
● Purpose: The move aims to address challenges in the implementation of resolution plans and
increase transparency and confidence in the insolvency resolution process.
● This proposal follows a Supreme Court ruling on November 7, 2024, which emphasized the need
for statutory recognition of monitoring committees for smooth plan implementation.
● Constitution of Monitoring Committees:These committees are currently formed based on
directions from adjudicating authorities.
● The court recommended empowering the committee of creditors (CoC) to constitute these
committees.
● Role and Composition:The monitoring committees will consist of representatives from the CoC,
resolution applicants, and an insolvency professional serving as the chairperson.
About IBBI :
● Formed : 1 October 2016
● Headquarters : New Delhi, India
● Chairman : Shri Ravi Mital
● Parent Department : Ministry of Corporate Affairs

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 Important Monthly Current Affairs Capsule – November 2024

SEBI Unveils Six Measures to Strengthen Equity Index Derivatives (F&O) Framework
● Markets regulator Securities and Exchange Board of India (Sebi) released a set of six measures
to strengthen the equity index derivatives, also known as equity futures & options (F&O),
framework.
● Immediate Measures: Three measures will take effect from November 20, 2024:
● Recalibration of Contract Size: SEBI will recalibrate the minimum contract size for index futures
to ₹15 lakh.
● Position Limit Rules: Under the new F&O rules:Client Position Limit: Clients can hold a maximum
of 5% of the total number of contracts for any particular underlying.
● Broker Position Limit: Brokers can hold up to 15% of the total contracts for a particular underlying.
About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

Securities and Exchange Board of India removes 1% mandatory security deposit requirement for public
issues
● The Securities and Exchange Board of India (SEBI), abolished the mandatory requirement for
companies to deposit 1% of the issue size with stock exchanges before launching a public issue.
● The change is applicable immediately, as per SEBI's circular.
● The move aims to enhance the ease of doing business for issuer companies and reduce
procedural requirements for public offerings.
● SEBI proposed this change in a February 2024 consultation paper, emphasizing that the deposit
requirement was no longer necessary due to reforms.
● Advances in public issue mechanisms, such as:
○ ASBA (Application Supported by Blocked Amount).
○ UPI mode of payment.
○ Mandatory allotment in dematerialised (demat) form, has reduced the likelihood of such
complaints.

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 Important Monthly Current Affairs Capsule – November 2024

● Regulations Amended:The change applies to SEBI's Issue of Capital and Disclosure

Requirements (ICDR) Regulations, 2018.

Reserve Bank of India and Maldives Monetary Authority sign agreement to boost local currency usage
● The Reserve Bank of India (RBI) and the Maldives Monetary Authority (MMA) have signed a
Memorandum of Understanding (MoU) to promote the use of local currencies (Indian Rupee -
INR and Maldivian Rufiyaa - MVR) in cross-border transactions.
● The MoU aims to facilitate invoicing and settlement of transactions in INR and MVR, reducing
costs and improving efficiency by reducing settlement time.
● The MoU was signed by RBI Governor Shaktikanta Das and MMA Governor Ahmed Munawar.

About MMA :
● Established : July 1, 1981
● Headquarters : Male
● Governor : Ahmed Munawar

Reserve Bank of India Infuses ₹25,000 Crore Through VRR Auction to Enhance Liquidity in Banking
System
● The Reserve Bank of India (RBI) injected ₹25,000 crore into the banking system via a variable
rate repo auction (VRR) to manage liquidity and prevent increased borrowing costs for banks.
● Call Rate and Repo Rate: The weighted average call rate rose by 23 basis points above the
policy repo rate, reaching 6.73%.
● Surplus Liquidity: Surplus liquidity in the banking system dropped to ₹84,154.75 crore due to
monthly GST outflows, highlighting the need for RBI intervention to maintain balance.

Axis Mutual Fund Introduces Momentum Fund; New Fund Offer Available Until December 6, 2024
● Axis Mutual Fund has launched the Axis Momentum Fund, an open-ended equity scheme based
on the momentum investment strategy.
● The New Fund Offer (NFO) is open from November 22, 2024, to December 6, 2024.
● The fund aims to generate long-term capital appreciation by investing in equity and equity-related
securities with strong price momentum.
About Axis Mutual Fund :

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 Important Monthly Current Affairs Capsule – November 2024

● Founded : 2009
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : B Gopkumar

India Infrastructure Finance Company Limited Explores USD 600 Million Funding from Asian
Development Bank and Korean Exim Bank
● India Infrastructure Finance Company Limited (IIFCL) is in talks with the Asian Development
Bank (ADB) and Korean Exim Bank to raise USD 600 million in blended finance.
● The purpose is to expand its investor base and reduce borrowing costs.
● The agreement is expected to be signed in December 2024, and the funding will be raised in
stages, with about USD 200 million expected this fiscal year (FY 2024-25) and the remaining
portion in FY 2025-26.
● IIFCL also plans to raise USD 200 million via external commercial borrowings (ECB) by January
2025.
About ADB :
● Established : 1966
● Headquarters : Manila, Philippines
● President : Masatsugu Asakawa

Jammu Kashmir Bank Introduces Virtual ATM Service

● Jammu and Kashmir Bank (J&K Bank) has launched the Virtual ATM (vATM) facility, aimed at
leveraging technology for financial empowerment, especially in rural areas lacking ATMs and
other banking channels.
● The vATM service is developed in collaboration with Paymart India Pvt Ltd. This initiative is
designed to make banking more accessible to customers, particularly in ATM-deficient areas.
● The virtual ATM platform was inaugurated by J&K Bank’s Managing Director and CEO, Baldev
Prakash, alongside Amit Narang, Director and CEO of Paymart India Private Limited.
About Jammu and Kashmir Bank :
● Founded : 1 October 1938
● Headquarters : Srinagar, Jammu and Kashmir, India
● MD & CEO : Baldev Prakash

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 Important Monthly Current Affairs Capsule – November 2024

Government Revises PLI Scheme for public sector banks Executives to Reward Value Creation
● The central government has revised the PLI scheme for whole-time directors (WTDs) and senior
executives of public sector banks (PSBs) to incentivize employees for significant value creation.
● Scope of the Revised Scheme:The scheme now applies not only to Whole-Time Directors (MDs
& CEOs) and Executive Directors but also to senior executives at the Chief Manager level and
above.
● PLI Ceiling:Chief General Manager and General Manager can receive up to 90% of their annual
basic pay.
● Deputy General Manager and Assistant General Manager have a ceiling of 80% of their annual
basic pay.
● The Chief Manager has a ceiling of 70%.
Eligibility Criteria for Banks:
● For a bank to be eligible for the PLI scheme, it must meet at least three out of four criteria:
○ Return on Assets (RoA) must be positive.
○ Net NPA must be ≤ 1.5%, or if higher, a reduction of 25 basis points or more from the
opening net NPA of the financial year.
○ Cost to Income Ratio (CIR) must be ≤ 50%, or show year-on-year improvement if higher
than 50%.
○ Capital to Risk (Weighted) Assets Ratio must meet the minimum regulatory requirements.
● Effective Date:The scheme will come into force retrospectively from the financial year 2023-24.
Delegates from 18 Countries Attend RBI Conference for Central Banks of the Global South
● A high-level policy conference for central banks of the Global South was organized by the
Reserve Bank of India (RBI) as part of its 90th anniversary celebrations.
● Delegates from 18 countries, including central bank governors and officials, attended.

Central Bank of India Gets Reserve Bank of India Approval to Enter Insurance Sector via JV with Future
Generali
● The Reserve Bank of India (RBI) approved the Central Bank of India’s (CBI) entry into life and
non-life insurance businesses through a joint venture with Generali Group, subject to compliance
with conditions and sectoral regulator IRDAI’s approval.
● CCI Clearance:In October, the Competition Commission of India (CCI) cleared the Central Bank
of India’s acquisition of stakes in:

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 Important Monthly Current Affairs Capsule – November 2024

○ Future Generali India Insurance Company Ltd (FGIICL) (non-life insurance).

○ Future Generali India Life Insurance Company Ltd (FGILICL) (life insurance).
● Stake Acquisition:Central Bank of India to acquire:
○ 25.18% equity shares in the life insurance division (FGILICL).
○ 24.91% equity shares in the non-life insurance division (FGIICL).
About CBI :
● Founded : 21 December 1911
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Matam Venkata Rao

Punjab National Bank Joins Partnership for Carbon Accounting Financials (PCAF) to Enhance Climate
Responsibility
● Punjab National Bank (PNB) has joined the globally recognized Partnership for Carbon
Accounting Financials (PCAF), signalling its commitment to sustainability and climate action.
● By joining PCAF, PNB will use internationally recognized standards to measure and disclose
greenhouse gas (GHG) emissions linked to its lending and investment activities.
About PNB :
● Founded : 19 May 1894
● Headquarters : Delhi, India
● MD & CEO : Atul Kumar Goel
● Tagline : The Name You Can Bank Upon

Reserve Bank of India Raises UPI 123Pay Transaction Limit to Rs 10,000 for Higher-Value Payments
via Feature Phones
● The Reserve Bank of India (RBI) has increased the transaction limit for UPI 123Pay from Rs
5,000 to Rs 10,000, allowing users to make higher-value digital payments via feature phones.
What is UPI 123Pay?
● UPI 123Pay facilitates digital payments on feature phones, enabling users to access UPI
services without an internet connection.
● It supports four payment methods:
1. IVR (Interactive Voice Response): Users interact with a voice-based system to carry out
transactions.

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 Important Monthly Current Affairs Capsule – November 2024

2. Missed Calls: A feature where users can make payments by dialing specific numbers and
hanging up, triggering a payment process.
3. OEM (Original Equipment Manufacturer) Apps: Special apps installed on feature phones that
allow users to make payments.
4. Sound Technology: Using sound waves to securely transfer payment information between
devices
● Implementation Timeline:The new transaction limit of Rs 10,000 is effective immediately, but full
compliance with the new limit must be completed by January 1, 2025.

Reserve Bank of India Introduces Scheme for Writing Original Hindi Books on Economics, Banking, and
Finance
● The Reserve Bank of India (RBI) has introduced a scheme for awarding professors who write
original books in Hindi on Economics, Banking, and Financial subjects.
● Purpose of the Scheme: The scheme aims to encourage the creation of academic literature in
Hindi on crucial subjects like Economics, Banking, and Finance.
● Eligibility Criteria:Professors (including Assistant and Associate Professors) working or retired
from UGC-recognized Indian Universities are eligible.
● Authors must have written at least one book of a minimum of 200 pages on
Economics/Banking/Finance subjects, originally in Hindi.
● Award Details:Three prizes of ₹1,25,000 each will be awarded to the authors.

Yes Bank Collaborates with Vegapay to Enable Credit Line on UPI

● Yes Bank has partnered with Vegapay, a banking software technology innovator, to launch a
hyper-configurable platform called ‘Credit Line on UPI’.
● Platform Features:The platform enables Yes Bank to create customised credit programs tailored
to customer needs.
About YES Bank :
● Founded : 2004
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Prashant Kumar

Sohan Lal Commodity Management Partners with Bank of Baroda to Offer Collateral Management

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Services for Agri Financing

● Warehousing and collateral management firm Sohan Lal Commodity Management (SLCM) has
entered into a partnership with the Bank of Baroda (BoB) to provide collateral management
services for agricultural financing.
● This partnership will allow farmers to access credit against their crops through Bank of Baroda’s
nationwide network.
About Bank of Baroda :
● Founded : 20 July 1908
● Headquarters : Vadodara, Gujarat, India
● MD & CEO : Debadatta Chand

Sri Lanka's New Government Secures International Monetary Fund Approval for Fourth Instalment of
USD 3 Billion Bailout Package
● Sri Lanka secured approval for the fourth tranche of the $2.9 billion Extended Fund Facility (EFF)
from the International Monetary Fund (IMF).
● Once the review is approved, Sri Lanka will access approximately $333 million.
● The economy grew by an average of 4% in the four quarters ending June 2024.
About IMF :
● Formation : 1 July 1944
● Headquarters : Washington, D.C., United States
● Managing Director : Kristalina Georgieva
● Membership : 191 countries (190 UN countries and Kosovo)
About Sri Lanka :
● President : Anura Kumara Dissanayake
● Prime Minister : Harini Amarasuriya
● Capital : Sri Jayawardenepura Kotte (legislative), Colombo (executive and judicial)
● Currency : Sri Lankan rupee (Rs)

ICICI Prudential Life Introduces 'Increasing Income' Option in Annuity Plan

● ICICI Prudential Life Insurance launched the industry’s first "Increasing Income" feature in its
regular pay annuity product, ICICI Pru Guaranteed Pension Plan Flexi.

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 Important Monthly Current Affairs Capsule – November 2024

● The Increasing Income feature provides a 5% annual increase in the annuity pay-out, helping
retirees combat inflation and maintain their standard of living.
About ICICI Prudential Life Insurance :
● Founded : 2000
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Anup Bagchi
● It is established as a joint venture between ICICI Bank Limitedand Prudential Corporation
Holdings Limited.

Public Sector Banks Gear Up to Raise Capital Through AT-1 and Tier-2 Bonds
● Public Sector Banks (PSBs) have proposed raising ₹54,800 crore in FY25 through Additional
Tier-1 (AT-1) and Tier-2 bonds.
● This amount is 37% higher than the ₹39,880 crore raised in FY24.
● Both AT-1 and Tier-2 bonds are regulatory capital instruments used by banks to fulfil capital
adequacy requirements under Basel III norms.
● Tier-1 bonds are considered more risky due to the lack of a fixed maturity date, and they can be
written off in cases of financial distress.
● Tier-2 bonds are generally considered lower risk compared to AT-1 bonds.
● AT-1 Bond Issuance:In FY25, only State Bank of India (SBI) and Canara Bank have issued AT-1
bonds totaling ₹8,000 crore.

Canara HSBC Life Insurance Unveils OmniGen AI, a Pioneering Generative AI Solution for Enhancing
Underwriting Risk Assessment
● Canara HSBC Life Insurance introduced OmniGen AI, a first-of-its-kind Generative AI-driven
solution, leveraging Amazon Web Services (AWS) Bedrock platform.
● The solution is designed to optimize risk evaluation and enhance the underwriting process.
About Canara HSBC Life Insurance :
● Established : 2008
● Headquarters : Gurgaon, Haryana, India
● MD & CEO : Anuj Mathur
● Canara HSBC Life Insurance is a joint venture:
➔ Canara Bank: 51% shareholding.

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 Important Monthly Current Affairs Capsule – November 2024

➔ HSBC Insurance (Asia Pacific) Holdings Ltd: 26% shareholding.

➔ Punjab National Bank: 23% shareholding.

Telecom Operators' Bank Guarantee Waiver Subject to Conditions

● The Union Cabinet has agreed in principle to waive the bank guarantee requirement for deferred
spectrum payments by telecom operators.
● The waiver applies to spectrum acquired by telcos in auctions held between 2012 and 2022, with
exceptions for 2022 and 2024 auctions where the requirement was already removed.
● The government will forgo bank guarantees worth ₹30,000 crore, which were previously required
upfront from telecom operators.
● Telecom operators like Airtel and Jio were set to submit guarantees worth ₹2,300 crore and
₹4,000 crore, respectively.

Banks target ₹1 trillion from infrastructure bond issuances in FY25

● Commercial banks are expected to raise over ₹1 trillion through infrastructure bond issuances in
FY25, nearly doubling the ₹51,081 crore raised in FY24.
● Funds Raised So Far: By November 2024, ₹74,256 crore has been raised through infrastructure
bonds, with the total expected to exceed ₹1 trillion by the end of FY25.
● Role of State-Owned Banks: State-owned banks like State Bank of India, Bank of Baroda,
Canara Bank, and others have been active in tapping the domestic capital market to raise funds
via infra bonds to support credit growth amidst challenges in deposit mobilization.

Reserve Bank of India Infuses ₹6,956 Crore as Liquidity Shifts to Deficit

● After a prolonged period of surplus liquidity (₹1.4 lakh crore for over two months), the banking
system experienced a decline in cash.
● The Reserve Bank of India (RBI) injected ₹6,956 crore into the system to address the liquidity
deficit.
● Factors Contributing to Liquidity Deficit:The balance of payments (BoP) turned negative at $23
billion in the ongoing quarter due to:
○ Persistent outflows from Foreign Portfolio Investors (FPIs).

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 Important Monthly Current Affairs Capsule – November 2024

○ RBI is selling dollars to support the rupee.

● Impact on Borrowing Costs:The liquidity deficit caused the weighted average call rate (WACR) to
rise by 22 basis points to 6.72% above the policy repo rate.

Banks' Proportion of High-Cost Deposits Increases in Q2

● According to the latest data released by the Reserve Bank of India, the share of high-cost
deposits (over 7% interest rate) increased to 68.8% in the September 2024 quarter, up from 54.7%
a year ago.
● In March 2023, the share was only 33.7%, reflecting a significant shift during the monetary policy
tightening cycle.
Public Sector Banks (PSBs) vs. Private Banks:
● Deposit Growth:
○ PSBs' deposit growth rose to 9.0% YoY (September quarter) from 8.1% YoY (June
quarter).
○ Private sector banks outpaced PSBs with a deposit growth rate of above 15%.
● Credit Growth:
○ PSBs: Credit share at 53.2%, with a 13.0% YoY growth.
○ Private Banks: Credit share at 11.9%, with an 11.9% YoY growth.
● Term Deposits and CASA:Term deposits' share in total deposits rose to 61.4% in September
2024 from 59.8% a year ago, as they offered more attractive returns.

Angel One's Asset Management Arm Receives Securities and Exchange Board of India Nod to Launch
Mutual Fund Operations
● Angel One Asset Management Company has received the Securities and Exchange Board of
India’s (SEBI) approval to act as the asset management company for Angel One Mutual Fund.
● The mutual fund business will focus exclusively on passive investment solutions, including index
funds and exchange-traded funds (ETFs).
● In Nov 2024, Unifi Asset Management Private Limited, a subsidiary of Unifi Capital, also received
SEBI approval to launch its mutual fund operations.
● Mutual Fund Industry:Currently, 45 mutual fund houses operate in India, managing over ₹66 lakh
crore in assets under management (AUM).
● Chairman and Managing Director of Angel One : Dinesh Thakkar

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 Important Monthly Current Affairs Capsule – November 2024

● Executive Director and CEO of Angel One Asset Management Company : Hemen Bhatia

National Payments Corporation of India Plans Rupay and Unified Payments Interface Expansion Across
10 Countries
● The National Payments Corporation of India (NPCI) is in discussions with 10 countries to expand
the reach of Unified Payments Interface (UPI) and RuPay.
● Currently, UPI is operational in seven countries including France, UAE, Singapore, Bhutan, Sri
Lanka, Mauritius, and Nepal.
● Commercial agreements for UPI implementation have already been signed with Namibia,
Trinidad and Tobago, and Peru.
About NPCI :
● Founded : 2008
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Dilip Asbe
● The NPCI is an umbrella organization for operating retail payments and settlement systems in
India.
● It is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the
provisions of the Payment and Settlement Systems Act, 2007, to create a robust Payment &
Settlement Infrastructure in India.

Public Sector Banks to raise ₹25,000 crore through equity market

● Public Sector Banks (PSBs) have received approval from the finance ministry to raise ₹25,200
crore in FY25 from the equity markets.
● Purpose of Fundraising: The funds raised will help PSBs in their growth and to meet the
regulatory requirement of 25% minimum public shareholding (MPS).
● Amount Raised So Far: As of FY25, PSBs have already raised ₹8,500 crore through Qualified
Institutional Placement (QIP).
● Punjab National Bank (PNB): PNB has raised ₹5,000 crore by diluting 3.15% of the government
stake.
● Bank of Maharashtra (BoM): BoM has raised ₹3,500 crore in the current financial year.
About Ministry of Finance :
● Cabinet Minister : Nirmala Sitharaman

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 Important Monthly Current Affairs Capsule – November 2024

● Minister of State : Pankaj Choudhary

Bank of India, Bank of Baroda raise Rs 8,500 crore through bond issuance due to high demand
● Bank of India (BoI) raised Rs 5,000 crore through a 10-year infrastructure bond issuance at a
7.41% coupon rate.
● Bank of Baroda (BoB) raised Rs 3,500 crore through the issuance of Basel III-compliant Tier-2
bonds, also at a 7.41% coupon rate.
● The bonds had a base size of Rs 1,000 crore and a green shoe option of Rs 2,500 crore.
● The issuance was oversubscribed, with bids totalling Rs 9,500 crore, nearly three times the issue
size.
● Both bond issues were rated AAA/stable by CRISIL and India Ratings, with BoB's Tier-2 bonds
having a 15-year tenure and a 10-year call option.
About Bank of India (BoI) :
● Founded : 7 September 1906
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Rajneesh Karnatak
About Bank of Baroda (BoB) :
● Founded : 20 July 1908
● Headquarters : Vadodara, Gujarat, India
● MD & CEO : Debadatta Chand

India's Fiscal Deficit Estimated at 4.75% of GDP in FY25; Government Capex May Fall by ₹62,000
Crore: Ind-Ra
● The government's fiscal deficit in FY25 is expected to be 4.75% of GDP, which is 0.19% lower
than the budget estimate.
● The government plans to control revenue expenditure, excluding subsidies, which will be 0.12%
lower than the budget estimate.
● The government's capital expenditure is projected to be ₹62,000 crore lower than the budgeted
amount of ₹11.11 lakh crore, though still 10.6% higher than the previous year.

State Bank of India raises Rs 50,000 crore through bond issuance in FY25 so far

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 Important Monthly Current Affairs Capsule – November 2024

● State Bank of India (SBI) has raised a total of Rs 50,000 crore in the current financial year
through various bond issuances.
● In the latest move, SBI raised Rs 10,000 crore from infrastructure bonds, bringing its total
fundraising in FY25 to Rs 50,000 crore.
Breakdown of Issuances:
● Rs 5,000 crore raised via AT1 Bonds (perpetual bonds).
● Rs 15,000 crore raised through Tier 2 Bonds.
● Rs 30,000 crore raised via Long Term Bonds.
● The bonds issued have a 15-year tenor, except for the AT1 Bonds, which are perpetual.

Axis Bank's Asset Book at GIFT City IFSC Unit Doubles to $4 Billion Since 2019
● Axis Bank announced that the asset book of its IFSC Banking Unit (IBU) at Gujarat International
Finance Tec-City (GIFT City) has doubled from $2 billion in 2019 to $4 billion.
● The bank also has $1 billion in deposits, making it one of the highest deposits at GIFT City.
● GIFT City is India's first International Financial Services Centre (IFSC), designed to provide
world-class banking services locally and reduce India’s reliance on offshore financial hubs.
About Axis Bank :
● Established : 3 December 1993
● Headquarters: Mumbai, Maharashtra, India
● MD & CEO: Amitabh Chaudhry
● Tagline : Badhti Ka Naam Zindagi

HDFC Bank introduces savings account targeting rural and semi-urban customers
● HDFC Bank introduced the Pragati Savings Account to cater to the banking needs of rural and
semi-urban populations across India.
● The account is aimed at farmers, including those involved in traditional farming, cattle breeding,
fisheries, poultry, and dairy farming, as well as self-employed individuals, rural residents, self-
help groups, and cooperatives.
About HDFC Bank :

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 Important Monthly Current Affairs Capsule – November 2024

● Founded : August 1994

● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Sashidhar Jagdishan

Asian Development Bank commends India for reducing fossil fuel subsidies to promote green energy
● The Asian Development Bank (ADB) praised India for adopting policies that reduce fossil fuel
subsidies and create fiscal space for renewable energy initiatives and electric vehicles.
● India has implemented a “remove, target, and shift” approach to reduce subsidies on petroleum
products, effectively lowering fiscal subsidies in the oil and gas sector by 85% since 2010.

Reserve Bank of India Deputy Governor Swaminathan announces efforts to build data analytics
ecosystem for enhancing supervisory functions
● The Reserve Bank of India (RBI) is working on creating a robust data analytics ecosystem to
support its supervisory functions, aimed at improving agility and ensuring forward-looking
supervision.
● RBI is dedicated to developing a global model of risk-focused supervision, emphasizing strong
risk discovery, compliance culture, and a "through-the-cycle" risk assessment framework.
● RBI has introduced a "Calibrated Supervisory Approach"to effectively focus on high-risk
institutions and practices, enhancing flexibility and scalability in its supervisory methods.

Groww Mutual Fund Launches Multicap Fund: NFO Monitor

● Groww Mutual Fund has introduced Groww Multicap Fund, an open-ended equity scheme aiming
to capture growth across large, mid, and smallcap stocks.
● NFO Timeline : The New Fund Offer (NFO) is open for subscription and will close on December
10, 2024.
● The scheme will reopen on or before December 24, 2024.
● The scheme is benchmarked against the Nifty 500 Multicap 50:25:25 Index TRI.
About Groww Mutual Fund :
● Established : 2017
● Headquarters : Bangalore, Karnataka
● CEO : Varun Gupta

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 Important Monthly Current Affairs Capsule – November 2024

AWARDS AND HONOUR

Francis Ford Coppola to Receive AFI Life Achievement Award
• Legendary filmmaker Francis Ford Coppola will be honoured with the AFI Life Achievement
Award in its 50th year at a ceremony on April 26, 2025, at Hollywood’s Dolby Theatre.
• At 86, Coppola receives this award shortly after the release of his latest film, Megalopolis,
underscoring his lifetime of groundbreaking work in cinema.
• The tribute will be broadcast on TNT, with encore presentations on Turner Classic Movies (TCM).
• Proceeds from the event will benefit the American Film Institute’s (AFI) education and arts
programs.

Wagh Bakri Tea Group Honored with Generational Legacy Award for Outstanding Contribution to the
Indian Economy
• The Wagh Bakri Tea Group has been awarded the prestigious “Generational Legacy Award for
Outstanding Contribution to the Indian Economy” by Hurun India.
• This recognition was presented during the inaugural Hurun India Family Business Awards,
highlighting the group’s significant impact on the Indian economy and celebrating its enduring
legacy in the tea industry.
• Award Name: Generational Legacy Award for Outstanding Contribution to the Indian Economy
• Presented By: Hurun India during the inaugural Hurun India Family Business Awards

The Hindu Shines at WAN-IFRA Asian Media Awards 2024, Recognizing Excellence in Journalism
• The Hindu's Accomplishments:
o Gold in Best Breaking News Article: Awarded to “Making Sense of the Electoral Bonds
Data”, highlighting The Hindu's impactful journalism.
o Silver in Best Feature Article: Awarded to “Kota’s Crash Course”, a Ground Zero report
capturing the lives of students in Kota's coaching centres.

Union Minister Nitin Gadkari Receives YouTube’s 'Golden Button' Award

• Union Minister Nitin Gadkari received YouTube’s Golden Button Award, which acknowledges the
popularity of his content on the platform.
• The award was presented by Ajay Vidyasagar, Regional Director of YouTube at Google Asia
Pacific.

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 Important Monthly Current Affairs Capsule – November 2024

• Gadkari’s channel features videos of inaugural ceremonies, updates on new roadways and
expressways, and speeches delivered at various organizations.
• In 2021, he shared a personal video titled "Things to know about Nitin Gadkari," describing
himself as a “visionary leader with an impressive track record.” This video remains pinned on his
channel.

Anil Pradhan Wins Third Rohini Nayyar Award for His Contributions to Rural STEM Education
• Anil Pradhan, an engineer and educationist from Odisha, has been honoured with the third
Rohini Nayyar Prize for his outstanding contributions to rural development through STEM
education.
• Pradhan co-founded the Young Tinker Foundation, a non-profit organization focused on hands-
on STEM (science, technology, engineering, and mathematics) education in underserved areas,
winning a cash prize of ₹10 lakh along with a citation and trophy.

The 55th International Film Festival of India (IFFI) – A Global Celebration of Cinema
• The 55th edition of the International Film Festival of India (IFFI) is set to open in Panaji, Goa,
transforming the coastal city into a hub of global cinematic culture.
• The festival is an important platform for promoting diverse films, creating a bridge for filmmakers
and audiences from all around the world to experience the power of cinema.
• IFFI not only showcases films but also provides networking opportunities, industry workshops,
and an inclusive environment for global film culture.

Samantha Harvey’s ‘beautiful and ambitious’ Orbital wins Booker prize

● Orbital by Samantha Harvey is the winner of the 2024 Booker Prize, praised for its "beauty and
ambition" by the judging panel.
● The novel follows six fictional astronauts aboard the International Space Station, reflecting on
Earth, beauty, and human aspirations.
● The book takes place over the course of one day, with characters experiencing 16 sunrises and
16 sunsets. Its meditation on Earth and human existence was widely praised.
● Orbital was the highest-selling book on the shortlist, with 29,000 copies sold in the UK in 2024.

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 Important Monthly Current Affairs Capsule – November 2024

Dominica’s Highest National Award to Be Conferred on Prime Minister Narendra Modi

● The Commonwealth of Dominica is set to honor Indian Prime Minister Narendra Modi with its highest
national accolade, the Dominica Award of Honour, for his significant contributions to the Caribbean
nation during the Covid-19 pandemic and his efforts to strengthen bilateral ties.
● The award will be presented by Dominican President Sylvanie Burton during the upcoming India-
CARICOM Summit in Georgetown, Guyana, from November 19 to 21, 2024.
● PM Modi supplied 70,000 doses of AstraZeneca vaccines to Dominica in February 2021, assisting
the nation during the critical phase of the pandemic.
● This is Dominica's highest national recognition, bestowed on individuals who have made exceptional
contributions to the nation or its people.

GHIAL Shines at Airport Excellence Awards 2024 for Digital Innovations

● GMR Hyderabad International Airport Limited (GHIAL) has achieved global recognition at the 2024
Airport Excellence Awards at the Riyadh International Convention and Exhibition Center (RICEC).
● The awards celebrated GHIAL's cutting-edge contributions to aviation technology, particularly in
Digital Twin and Smart Shopping Trolley innovations, marking a milestone in modernizing airport
management and passenger services.

Manoj Bajpayee’s The Fable Wins Best Film at the 38th Leeds International Film Festival
● Manoj Bajpayee's critically acclaimed film, The Fable, has earned the prestigious Best Film award at
the 38th Leeds International Film Festival.
● The film triumphed in the Constellation Feature Film Competition, which recognizes outstanding and
innovative cinema globally.
● Directed by Raam Reddy, the film's unique blend of magical realism and poignant themes of
colonialism and labor relations has garnered widespread recognition on the international stage.

46th Jamnalal Bajaj Foundation Awards: Honoring Gandhian Contributions

● The 46th Jamnalal Bajaj Foundation Awards 2024 were conferred in Mumbai. Four distinguished
individuals were recognized for their exceptional contributions to education, health, employment, and
promoting Gandhian values.
About the Awards

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 Important Monthly Current Affairs Capsule – November 2024

● Instituted to promote Gandhian values and the ideologies of Jamnalal Bajaj.

● Categories and their introduction:
o Constructive Work and Application of Science and Technology for Rural Development
(1978).
o Development and Welfare of Women and Children (1980, in memory of Jankidevi Bajaj).
o International Award for Promoting Gandhian Values Outside India (1988).
● Each award includes a cash prize of ₹20 lakh.
Awardees and Contributions
1. Rashmi Bharti (Uttarakhand)
Category: Application of Science and Technology for Rural Development
2. Dr. Tulasi Munda (Odisha)
Category: Development and Welfare of Women and Children
3. Reverend Erik Kumedisa (Democratic Republic of Congo)
Category: International Award for Promoting Gandhian Values Outside India
4. Girija Nandan (Bihar & Jharkhand)
Category: Constructive Work

Victoria Kjær Theilvig of Denmark Crowned Miss Universe 2024

● Victoria Kjær Theilvig from Denmark has been crowned Miss Universe 2024, marking the first
time a Danish contestant has won the prestigious title.
● Kjær, an animal protection advocate and diamond industry professional, emerged victorious after
competing against Miss Nigeria, who was the runner-up, while Miss Mexico placed third.
● The 73rd edition of Miss Universe was held in the Mexico City Arena, with a capacity of 20,000
people, creating a vibrant atmosphere with supporters waving flags from around the world.
● Mexico hosted the Miss Universe competition for the third time.

India Leads in AI App Downloads in 2024: Google Play Best Apps of the Year
● India has emerged as the global leader in the number of artificial intelligence (AI) app downloads in
2024, comprising 21% of global downloads.
● According to a blog post from Google Play, nearly 1,000 apps and games in India now incorporate
AI, reflecting the country's growing digital and technological influence

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 Important Monthly Current Affairs Capsule – November 2024

Sipan Kumar Garg was Conferred the 'Visionary CFO of India' Award at the National Economic Growth
Summit 2024
● Sipan Kumar Garg, Director (Finance) of THDC India Limited, was awarded the ‘Visionary CFO of
India’ title at the National Economic Growth Summit 2024, recognizing his significant contributions to
the finance sector and his leadership in driving innovation and growth.
● Award Recognition: The prestigious award celebrates Garg's strategic leadership in managing
financial challenges and driving growth at THDC India Limited amidst a changing business
environment.
● Leadership in THDCIL: Garg assumed the position of Director (Finance) at THDC India Limited on
17 August 2024 and has played a pivotal role in ensuring the financial stability and growth of the
organization, aligning with India’s broader vision for the power sector.

Prime Minister Modi Honored with Top National Awards by Guyana, Barbados, and Dominica
● Prime Minister Narendra Modi is set to receive the highest national honors from Guyana and
Barbados during his historic visit to these countries, following the G20 Summit in Brazil.
● These recognitions add to his growing list of international accolades, bringing the total to 19 awards.
● Guyana: PM Modi will be conferred the ‘Order of Excellence,’ Guyana’s highest national honor.
● Barbados: He will receive the ‘Honorary Order of Freedom of Barbados,’ recognizing his
contributions to international relations.
● Dominica: The country recently announced its ‘Dominica Award of Honour’ for PM Modi, their
highest distinction.

General Dwivedi of Indian army conferred honorary general rank by Nepali army
● General Upendra Dwivedi, Chief of the Army Staff of the Indian Army, is on a five-day official visit to
Kathmandu, Nepal, at the invitation of General Ashok Raj Sigdel, the Chief of the Army Staff of the
Nepali Army.
● General Dwivedi is leading a five-member delegation, which includes his spouse, Sunita Dwivedi,
Chairperson of the Army Wives Welfare Association (AWWA) of the Indian Army.

Ministry of Health's 'One Health' Pavilion Receives Special Recognition at IITF

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 Important Monthly Current Affairs Capsule – November 2024

● The Ministry of Health and Family Welfare was awarded a Special Appreciation Medal at the 43rd
India International Trade Fair (IITF) in New Delhi for the innovative design and impactful
presentation of its healthcare initiatives.
● This recognition highlights the Ministry's commitment to promoting a holistic approach to health,
integrating human, animal, plant, and environmental well-being, in line with India's evolving
healthcare strategies.

Indian Chemical Council (ICC) Wins 2024 OPCW-The Hague Award

● In a historic achievement, the Indian Chemical Council (ICC) was awarded the 2024 OPCW-The
Hague Award at the 29th Session of the Conference of the States Parties (CSP) of the Organisation
for the Prohibition of Chemical Weapons (OPCW), held in The Hague.
● This is the first time the award has been conferred upon a chemical industry body, marking a
significant milestone in India’s dedication to chemical safety and Chemical Weapons Convention
(CWC) compliance.
Key Highlights from the Award Ceremony
● Location: The Hague, 29th Session of the Conference of the States Parties (CSP)
● Award Presented By:
● Ambassador Fernando Arias, Director-General of OPCW
● Mayor Jan van Zanen, Municipality of The Hague
● Recipient: Mr. D. Sothi Selvam, Director-General of ICC

55th International Film Festival of India (IFFI) 2024: A Grand Conclusion

● The 55th IFFI concluded on 28th November 2024 at the Dr. Shyama Prasad Mukherjee Indoor
Stadium, Goa, celebrating a vibrant nine-day journey of global and Indian cinema.
● The festival’s theme, "Young Filmmakers: The Future is Now," spotlighted emerging talents while
honoring established cinematic legends.
Complete Winners List
Award Winner Film/Project Country

Golden Peacock (Best Saulė Bliuvaitė Toxic Lithuania

Film)
Silver Peacock (Best Bogdan Muresanu The New Year Romania
Director) That Never Came

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 Important Monthly Current Affairs Capsule – November 2024

Silver Peacock (Best Clément Faveau Holy Cow France

Actor – Male)
Silver Peacock (Best Vesta Matulytė & Toxic Lithuania
Actor – Female) Ieva Rupeikaitė
Special Jury Award Louise Courvoisier Holy Cow France

Best Debut Feature Sarah Friedland Familiar Touch USA

Film
Best Debut Navjyot Gharat Ganpati India
Director (Indian Bandiwadekar
Feature)
ICFT-UNESCO Levan Akin Crossing Georgia
Gandhi Medal
Best Web Series Nipun Lampan India
(OTT) Dharmadhikari
Indian Film Personality Vikrant Massey — India
of the Year

APPOINTMENTS & RESIGNATIONS

Indian Neuroscientist Shubha Tole Appointed as President-Elect of International Brain Research
Organisation
• Professor Shubha Tole, neuroscientist and dean of graduate studies, Tata Institute of
Fundamental Research, Mumbai, is president-elect of the International Brain Research
Organisation (IBRO).
• She is the first scientist from a developing country to be elected to the highest position in IBRO.
• The current IBRO President, Professor Tracy Bale, welcomed the new officers, emphasizing the
significance of Tole's leadership in diversity and inclusion within the neuroscience community.
About IBRO :
• Formation : 1961
• Headquarters : Paris, France

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 Important Monthly Current Affairs Capsule – November 2024

• IBRO is the global federation of neuroscience organizations that aims to promote and support
neuroscience around the world through training, teaching, collaborative research, advocacy and
outreach.

Kemi Badenoch makes history as the first black woman to lead a major UK political party after winning
the Conservative Party leadership contest
• Kemi Badenoch won the Conservative Party leadership contest, becoming the first black woman
to lead a major political party in the United Kingdom (UK).
• Badenoch secured her position by defeating fellow candidate Robert Jenrick with a margin of
12,418 votes.
• She succeeded Rishi Sunak, who faced significant losses in the July general election, leaving the
Conservatives with a record low of 121 seats in the House of Commons.
About United Kingdom :
• Capital : London
• Currency : Pound sterling

S.G.K. Kishore of GMR Airports was named president of Airport Council International (ACI) Asia Pacific
& Middle East
• S.G.K. Kishore, Executive Director and Chief Innovation Officer of GMR Airports, has been
appointed as the new president of Airport Council International (ACI) Asia Pacific & Middle East
(ACI APAC & MID).
• He succeeds Emmanuel Menanteau, Board Director of Cambodia Airports/Regional Director.
• Kishore will assume office on January 1, 2025, for a two-year term.

State Bank of India names Debasish Mishra as Chief General Manager for New Delhi Circle
• State Bank of India (SBI) has appointed Debasish Mishra as the Chief General Manager of its
New Delhi Circle, effective November 1, 2024.
• He replaces Kalpesh K Avasia, who has recently retired from the position.
• Mishra brings extensive experience in various sectors, including Credit, Operations, Forex, IT,
HR, and MSME, both domestically and internationally.
• The New Delhi Circle, which includes over 1,700 branches, aims to strengthen SBI's market
position in line with the country's growth objectives.

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 Important Monthly Current Affairs Capsule – November 2024

Financial Services Institutions Bureau Recommends Rahul Bhave, Current Deputy MD of IFCI, for MD
and CEO Position
• The Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned
banks and financial institutions, recommended Rahul Bhave for the position of Managing Director
(MD) and Chief Executive Officer (CEO) of IFCI Limited.
• Bhave is currently the Deputy Managing Director of IFCI.
• Besides, FSIB has recommended Palash Srivastava for the position of Deputy Managing Director
in IIFCL.
• Srivastava is currently the Chief Executive Officer of IIFCL Projects Limited, a subsidiary of
IIFCL.

India and France Re-elected as President and Vice-President of the International Solar Alliance
• The Minister of New & Renewable Energy Pralhad Joshi announced that India has been re-
elected as the President of the International Solar Alliance (ISA) for two years till 2026.
• Besides, France also retained the post of Vice-President of the global body promoting renewable
energy in least developed countries.
• The election of the president and the vice-president was held as part of the seventh session of
the Assembly, the apex decision making body of the ISA.
• Vice Presidents: Eight Vice Presidents from various regions were selected:

Yamaha Motor India names Itaru Otani as chairman to enhance market strategy
• India Yamaha Motor has appointed Itaru Otani as its new Chairman.
• In his new role, Otani plans to address changing consumer preferences by emphasizing the
development of innovative two-wheelers specifically designed for the Indian market.
• Otani has over 30 years of experience with Yamaha Motor Company, having held significant
leadership positions in various global markets, including Australia, Brazil, and Japan.

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 Important Monthly Current Affairs Capsule – November 2024

Senior IAS Tuhin Kanta Pandey appointed as additional Secretary of the Department of Personnel and
Training
• Senior IAS Officer Tuhin Kanta Pandey has received additional charge as Secretary of the
Department of Personnel and Training (DoPT).
• Tuhin Kanta Pandey is a senior IAS Officer from the Orissa cadre 1987 batch.
• He is currently serving as the Secretary of the Department of Investment and Public Asset
Management in the Ministry of Finance, Government of India.
• He will hold the additional charge of Secretary DoPT till the appointment of a regular incumbent
or until further orders.

Ministry of Home Affairs Appoints Four New Members to New Delhi Municipal Council
• The Union Home Ministry (MHA) appointed four new non-official members to the New Delhi
Municipal Council (NDMC).
• Kuljeet Chahal was appointed as the Vice Chairman of the NDMC.
• He previously served as a non-official member until September and replaced Satish Upadhyay in
the role.
• Anil Valmiki, Sarita Tomar, and Dinesh Pratap Singh were appointed as non-official members of
the NDMC.

IndiGo Co-founder Gangwal Named as Chairman of Southwest Airlines Board

• Rakesh Gangwal, co-founder of IndiGo Airlines, has been appointed as the new independent
chair of Southwest Airlines' Board.
• This follows an agreement with activist investor Elliott Investment Management.
• The leadership transition occurred after Gary Kelly's retirement on November 1, 2024.
• Southwest Airlines has also appointed five new directors, nominated by Elliott Investment
Management, to restructure the board and strengthen governance.
About Southwest Airlines :
• Founded : March 9, 1967 (Commenced operations-June 18, 1971
• Headquarters : Texas, United States
• President & CEO : Bob Jordan
• Southwest Airlines Co. is a major airline in the United States that operates on a low-cost carrier
model.

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 Important Monthly Current Affairs Capsule – November 2024

Sanjay Verma appointed as Maharashtra's new Director General of Police

• Sanjay Kumar Verma, a 1990-batch IPS officer, has been appointed as the Director General of
Police (DGP) of Maharashtra.
• Verma previously served as Director General of Legal and Technical in Maharashtra.
• Reason for Appointment: Verma succeeds Rashmi Shukla, who was removed from the DGP
position by order of the Election Commission of India (ECI) following complaints from opposition
parties.

Xiaomi India President Muralikrishnan B Resigns from Position

• Muralikrishnan B, President of Xiaomi India, is stepping down to pursue academic research,
specifically focusing on an Executive Doctorate in Management with a concentration on
Consumer Behaviour on Technology Platforms.
• After his resignation, he will continue to support Xiaomi India as an independent Strategic
Advisor.
• Tenure and Achievements: Muralikrishnan served Xiaomi India for over six years, contributing
significantly to the company's operations and growth.
• He played a pivotal role in enhancing Xiaomi India's brand presence and steering its strategic
direction.

DBS Bank appoints Rajat Verma as the next Chief Executive Officer for India
• Rajat Verma, the current Head of Institutional Banking at DBS Bank India, has been nominated
to become the next Chief Executive Officer (CEO) of DBS India, succeeding Surojit Shome.
• Surojit Shome, the current CEO of DBS Bank India, will retire after leading the bank since 2015.
About DBS Bank India :
• Headquarters : Mumbai, Maharashtra
• MD & CEO : Surojit Shome

Embassy Office Parks REIT names Ritwik Bhattacharjee as interim CEO

• Ritwik Bhattacharjee has been appointed as the interim Chief Executive Officer (CEO) of
Embassy Office Parks REIT with immediate effect.

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 Important Monthly Current Affairs Capsule – November 2024

• The appointment follows the SEBI order to suspend Arvind Maiya as CEO of Embassy Office
Parks Management Services.
• Reason for Suspension:SEBI's decision is based on a directive from the National Financial
Reporting Authority (NFRA), which barred Maiya for 10 years from conducting audits related to
financial statements or internal audits of any corporate entity.

Donald Trump defeats Kamala Harris, poised to become the 47th President of the United States
• Donald Trump won a non-consecutive second term as the 47th President of the United States,
defeating Vice-President Kamala Harris, the Democratic nominee.
• Republicans gained control of the Senate with at least 52 seats out of 100.
• Significance:Trump becomes only the second U.S. President to serve non-consecutive terms
and, at 78 years old, is now the oldest U.S. President to enter office.
• Joe Biden, the incumbent President (82 years), withdrew due to party concerns regarding age-
related cognitive issues.
About United States :
• Capital : Washington, D.C
• Currency : U.S. dollar

Emami's Agarwal New FICCI President

• Harsha Vardhan Agarwal has been announced as the President-Elect of the Federation of Indian
Chambers of Commerce & Industry (FICCI) at the FICCI National Executive Committee Meeting
held in New Delhi.
• Agarwal will succeed Anish Shah as President following the 97th Annual General Meeting on
November 21.

ICRISAT Director General Dr. Jacqueline d’Arros Hughes named Secretary General of the World
Agricultural Forum
• Dr. Jacqueline d’Arros Hughes, Director General of International Crops Research Institute for the
Semi-Arid Tropics (ICRISAT), has been appointed as the Secretary General of the World
Agriculture Forum (WAF) in November 2024.
• As Secretary General of WAF, Dr. Hughes will focus on advancing sustainable agriculture,
strengthening global alliances, and addressing the evolving needs of the agriculture sector.

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 Important Monthly Current Affairs Capsule – November 2024

Justice Sanjiv Khanna Takes Oath as 51st Chief Justice of India

• Justice Sanjiv Khanna was sworn in as the 51st Chief Justice of India (CJI) during a special
ceremony at Rashtrapati Bhavan, with President Droupadi Murmu administering the oath.
• Justice Khanna will serve a six-month tenure as CJI and is expected to retire on May 13, 2025.
• He succeeds Justice D. Y. Chandrachud, who concluded his term as CJI the day before.

US President-elect Donald Trump selects Elise Stefanik as nominee for UN. Ambassador
• United States (US) President-elect Donald Trump nominated Congresswoman Elise Stefanik as
the U.S. Ambassador to the United Nations.
• If confirmed by the Senate, Stefanik will replace Linda Thomas-Greenfield, the current U.N.
ambassador who has served for 35 years.

Government extends Vikram Misri's tenure as Foreign Secretary until July 14, 2026
• The Government of India has extended the tenure of Foreign Secretary Vikram Misri until July
14, 2026, as per an order from the Personnel Ministry.
• Misri's extension comes beyond his superannuation date (November 30, 2024) and will be in
effect until July 14, 2026, or until further orders.
• As Foreign Secretary, Misri continues to lead India’s foreign policy efforts and diplomatic
missions globally.
• The extension is based on the provisions of FR 56 (d), which allows for an extension in the
service of a Foreign Secretary beyond the superannuation date in the public interest.

Rakesh Sharma Takes Charge as Managing Director & CEO of Cent Bank Home Finance Limited
• Shri Rakesh Sharma assumed the role of Managing Director (MD) & CEO of Cent Bank Home
Finance Limited. (CBHFL), a subsidiary of the Central Bank of India, effective from 6th November
2024.
• Before joining CBHFL, Shri Rakesh Sharma was the CEO of Adani Housing Finance Limited.
• Shri Sharma is an experienced banker with a varied background in the financial sector.

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 Important Monthly Current Affairs Capsule – November 2024

Sonu Sood Named Brand Ambassador and Honorary Tourism Advisor for Thailand
● Sonu Sood, the renowned actor, philanthropist, and humanitarian, has been appointed as the
Brand Ambassador and Honorary Tourism Advisor for Thailand.
Role and Responsibilities:
● As Honorary Tourism Advisor, Sonu Sood will play a key role in shaping Thailand's marketing
strategies and public relations efforts to attract Indian tourists.
● His responsibilities include promoting Thailand as a prime tourism destination and enhancing
tourism relations between India and Thailand.
About Thailand :
● Prime Minister : Paetongtarn Shinawatra
● Capital : Bangkok
● Currency : Thai baht

President-elect Donald Trump Names Elon Musk Co-Leader of Newly Established Department of
Government Efficiency
● United States (US) President-elect Donald Trump appointed Elon Musk as co-leader of the newly
created Department of Government Efficiency (DOGE) on November 12, 2024.
● Vivek Ramaswami, former Republican presidential candidate, will co-lead with Musk.
● Objective of the Department:The Department of Government Efficiency aims to create a more
efficient government by reducing government expenditure and developing profit-driven policies.

Arvindar Singh Sahney Appointed as New Chairman of Indian Oil Corporation

● Arvindar Singh Sahney, currently Executive Director at Indian Oil Corporation Limited (IOCL),
has been appointed as the new Chairman of IOC.
● The Ministry of Petroleum and Natural Gas issued the official order for his appointment.
● His appointment was approved by the Appointments Committee of the Cabinet (ACC) for a five-
year term or until his superannuation, whichever occurs earlier.
● The Chairman position became vacant following Shrikant Madhav Vaidya's tenure ending on
August 31, 2024.

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 Important Monthly Current Affairs Capsule – November 2024

About IOCL :
● Founded : 30 June 1959
● Headquarters : New Delhi, India
● IOC is under the administrative control of the Ministry of Petroleum and Natural Gas.

Maia Sandu Re-elected as President of Moldova for a Second Term

● Moldova’s Pro-Western President, Maia Sandu, has been re-elected for a second term.
● Sandu defeated her opponent, Alexandr Stoianoglo, from the pro-Russian Party of Socialists, by
over 10 percentage points.
● With more than 99 percent of the ballots counted, Sandu received 55.26 percent of the vote.
About Moldova :
● Prime Minister : Dorin Recean
● Capital : Chisinau
● Currency : Moldovan leu

Praveena Rai Assumes Role as Chief Executive Officer of Multi Commodity Exchange of India
● Praveena Rai has taken office as the CEO and Managing Director of the Multi Commodity
Exchange of India (MCX) for a five-year term.
● She succeeds P S Reddy, who completed his five-year tenure in May 2024.
About MCX :
● Founded : November 10, 2003
● Headquarters : Mumbai, Maharashtra, India
● MCX is India's largest commodity derivatives exchange.

Mauritius President Prithvirajsing Roopun Appoints Navin Ramgoolam as New Prime Minister
● Navin Ramgoolam has been appointed as the Prime Minister of Mauritius by President
Prithvirajsing Roopun.
● This is the fourth term for Navin Ramgoolam, marking his return to power 10 years after his last
tenure.
● Ramgoolam's Alliance du Changement coalition achieved a landslide victory in the parliamentary
elections held on 10 November 2024.
● Navin Ramgoolam succeeds Pravind Jugnauth, who has served as Prime Minister since 2017.

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 Important Monthly Current Affairs Capsule – November 2024

● The National Assembly has 70 members, with 62 directly elected by citizens and 8 nominated by
the Electoral Supervisory Commission.
About Mauritius:
● Capital: Port Louis
● Currency: Mauritian Rupee

Tayyab Ikram Re-elected as President of International Hockey Federation (FIH) at 49th Statutory
Congress in Muscat
● Tayyab Ikram was re-elected for a second consecutive term as President of the International
Hockey Federation (FIH) at the 49th FIH Statutory Congress held in Muscat, Oman.
● Ikram secured 79 votes out of 126, defeating his competitor, Marc Coudron of Belgium, who
received 47 votes.
About International Hockey Federation :
● Formation : 7 January 1924
● Headquarters : Lausanne, Switzerland.
● International Hockey Federation is the international governing body of indoor field hockey and
field hockey.

Mallika Srinivasan, Chairperson of ESB, granted one-year extension beyond retirement age of 65
● Mallika Srinivasan's tenure as Chairperson of the Public Enterprises Selection Board (PESB) has
been extended by one year beyond the age limit of 65 years.
● Her new tenure runs from November 19, 2024, to November 18, 2025, or until further orders.
● She is the first person from the private sector to head PESB, marking a significant shift in the
leadership of the board.
● Before Srinivasan, the post of PESB Chairperson was vacant for about eight months after Rajeev
Kumar’s brief tenure, and before him, Kapil Dev Tripathi held the position briefly.
● PESB Role: PESB is responsible for advising the government on appointments to the highest
positions in Central Public Sector Enterprises (CPSEs).
● It selects the board of directors, including the chairman, for CPSEs.

Government expected to grant second term extension to Reserve Bank of India Governor Shaktikanta
Das

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 Important Monthly Current Affairs Capsule – November 2024

● The Indian government is expected to extend RBI Governor Shaktikanta Das's term for the
second time, which could make him the longest-serving Governor since the 1960s.
● Das's current term, which was extended previously, ends on December 10, 2024.
● He has already surpassed the typical five-year maximum tenure in recent decades.
● If extended, Das will become the longest-serving RBI Governor since Benegal Rama Rau, who
served for 7.5 years (1949–1957).

K. Sanjay Murthy appointed as the next Comptroller and Auditor General of India
● President Droupadi Murmu has appointed K. Sanjay Murthy as the next Comptroller and Auditor
General of India (CAG) under Article 148 of the Constitution.
● A notification regarding his appointment was issued by the Department of Economic Affairs
(DEA), Ministry of Finance.
● Murthy will replace Girish Chandra Murmu, whose tenure as CAG ends two days after the
announcement.

Sri Lanka Reappoints Amarasuriya as Prime Minister

● President Anura Kumara Dissanayake installed Sri Lanka’s new 21-member Cabinet after his
National People’s Power (NPP) alliance won a massive mandate in the parliamentary elections.
Key Appointments:
● President Dissanayake retained the key portfolios of Defence, Finance, Planning, and Digital
Economy.
● Prime Minister Harini Amarasuriya was reappointed and sworn in along with the new team of
Ministers on November 18, 2024.
● Legislative Composition:The 225-member Sri Lankan legislature will include a significant number
of young, first-time MPs and 21 women, the highest female representation in Sri Lanka's
Parliament.
● The NPP nominated Sugath Wasantha De Silva, a person with visual disability, as an MP,
marking the first time in Sri Lanka’s history that a person with a disability will serve in Parliament.
About Sri Lanka :
● President : Anura Kumara Dissanayake
● Prime Minister : Harini Amarasuriya

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 Important Monthly Current Affairs Capsule – November 2024

● Capital : Sri Jayawardenepura Kotte (legislative), Colombo (executive and judicial,)Colombo

(executive and judicial)
● Currency : Sri Lankan rupee

Burra Vamsi Rama Mohan Takes Over as Director (Projects) at Power Grid Corporation of India Limited
● Burra Vamsi Rama Mohan, an engineering graduate with a post-graduate diploma in
management, assumed the charge as project director of the Power Grid Corporation of India
Limited (POWERGRID) on 13 November, 2024.
About POWERGRID :
● Founded : 23 October 1989
● Headquarters : Gurugram, Haryana, India
● Chairman & Managing Director : Ravindra Kumar Tyagi
● Power Grid Corporation of India Limited is an Indian central public sector undertaking under the
ownership of the Ministry of Power, Government of India.

Brazilian Police Commissioner Valdecy Urquiza Appointed as New Interpol Chief

● Brazil’s Federal Police Commissioner Valdecy Urquiza has been elected as new secretary
general of Interpol at the global police organisation’s 92nd General Assembly, currently ongoing
in Glasgow.
● Urquiza will take over from the incumbent, Jurgen Stock, who has been leading Interpol for the
past 10 years.
● The 92nd General Assembly is being held in Glasgow from November 4 to 7, 2024, with around
1,000 delegates from Interpol's member countries attending.
● India is represented by Praveen Sood, the CBI Director, and Vijayendra Bidari, a joint director in
the Central Bureau of Investigation (CBI).
About Interpol or the International Criminal Police Organization :
● Founded : 7 September 1923
● Headquarters : Lyon, France

Justice D. Krishnakumar Appointed as Chief Justice of Manipur High Court

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 Important Monthly Current Affairs Capsule – November 2024

● The President appointed Justice D. Krishnakumar, a Madras High Court judge, as the Chief
Justice of the Manipur High Court, following the retirement of Justice Siddharth Mridul.
● Justice Siddharth Mridul retired as Chief Justice of Manipur High Court on November 21, 2024.

Election Commission of India appoints senior IAS officer R Alice Vaz as Delhi's Chief Electoral Officer
ahead of February Assembly elections
● The Election Commission of India (ECI) approved the appointment of senior IAS officer R Alice
Vaz as the chief electoral officer (CEO) of Delhi, ahead of the assembly elections in the city due
next February.
● Vaz, a 2005 batch IAS officer of the AGMUT cadre, is serving as secretary in Delhi's Directorate
of Higher Education.
● She will replace P Krishnamurthy, who was appointed as Delhi CEO in August 2023.
● In Oct 2024, the Appointments Committee of the Cabinet (ACC) approved the appointment of
Krishnamurthy as the chairperson of the National Pharmaceutical Pricing Authority (NPPA).

Emami MD & VC Harsha Vardhan Agarwal Assumes Role as Federation of Indian Chambers of
Commerce and Industry President
● Harsha Vardhan Agarwal, Vice-Chairman and Managing Director of Emami Limited, has taken
over as the President of FICCI (Federation of Indian Chambers of Commerce and Industry) for
the term 2024-2025.
● Agarwal succeeds Anish Shah, Group CEO of Mahindra Group and Managing Director of
Mahindra & Mahindra Ltd, as the new Ficci President.
● Ficci Leadership Changes:Anant Goenka (Vice-Chairman of RPG Group) has been elevated to
Senior Vice-President of Ficci from Vice President.
● Vijay Sankar, Chairman of the Sanmar Group, has joined Ficci leadership as Vice President.
About FICCI :
● Formation : 1927
● Headquarters : New Delhi, India

Ramraj Cotton appoints Abhishek Bachchan as its brand ambassador

● Ramraj Cotton, a prominent traditional and ethnic wear brand, has appointed Bollywood actor
Abhishek Bachchan as its brand ambassador.

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 Important Monthly Current Affairs Capsule – November 2024

● The brand plans to launch a multi-media, 360-degree campaign featuring Abhishek Bachchan to
enhance its presence in the traditional wear market.
About Ramraj Cotton :
● Founded : 1983
● Headquarters : Tiruppur
● Founder-Chairman : K R Nagarajan

RBL Bank Appoints Chess Prodigy Gukesh Dommaraju as Brand Ambassador

● RBL Bank, India’s private sector bank, has appointed Indian Chess prodigy Gukesh Dommaraju
as its brand ambassador.
● Gukesh has broken new ground by qualifying for the World Chess Championship.
● If victorious, he will become the youngest undisputed World Chess Champion by defeating
reigning champion Ding Liren of China.
About RBL Bank :
● Founded : August 1943
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : R Subramaniakumar

Hemant Soren set to be sworn in as Jharkhand Chief Minister on November 28, 2024
● Hemant Soren, leader of the Jharkhand Mukti Morcha (JMM), submitted his resignation to
Governor Santosh Gangwar on November 26, a day after securing a major electoral victory.
● Soren staked his claim to form the new government and is set to take oath as Chief Minister on
November 28.
● Election Results:Out of 81 Assembly seats, the INDIA bloc won 56 seats, while the NDA secured
24 seats.
About Jharkhand :
● Governor :Santosh Gangwar
● Chief Minister : Hemant Soren
● Capital : Ranchi
● Tiger Reserve : Palamu Tiger Reserve
● Wildlife Sanctuary : Dalma Wildlife Sanctuary, Gautam Budha Wildlife Sanctuary, Udhwa Lake
Bird Wildlife Sanctuary

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 Important Monthly Current Affairs Capsule – November 2024

Walmart's Dan Bartlett was Appointed as a Board Member of Flipkart

● Dan Bartlett, Executive Vice President of Corporate Affairs at Walmart Inc., was appointed as a
board member of the Flipkart Group.
● Role at Walmart: At Walmart, Bartlett heads corporate affairs, focusing on public policy,
sustainability, philanthropic initiatives, and shaping the company’s narrative.
● He also oversees corporate real estate and the development of Walmart’s new home office in
Bentonville, Arkansas.

Binny Bansal Resigns from PhonePe's Board of Directors

● Binny Bansal, co-founder of Flipkart, stepped down from the PhonePe board about 10 months
after leaving Flipkart.
● His departure from Flipkart in January 2024 was due to a conflict of interest after he launched his
new venture, OppDoor.
● In addition, PhonePe appointed Manish Sabharwal, vice-chairman at TeamLease Services, as an
independent director and Chair of the Audit Committee.
About PhonePe :
● Founded : 2015
● Headquarters : Bangalore, Karnataka
● Founder & CEO : Sameer Nigam

Financial Services Institutions Bureau Recommends Binod Kumar as Managing Director and Chief
Executive Officer of Indian Bank
● Binod Kumar has been recommended by the Financial Services Institutions Bureau (FSIB) for
the position of Managing Director (MD) and Chief Executive Officer (CEO) of Indian Bank.
● He currently serves as Executive Director of Punjab National Bank (PNB).

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 Important Monthly Current Affairs Capsule – November 2024

● Binod Kumar is expected to replace S L Jain, the current MD and CEO of Indian Bank, upon his
superannuation in December 2024.

Dinesh Bhatia Named India's New Ambassador to Brazil

● Dinesh Bhatia, an Indian Foreign Service (IFS) officer of the 1992 batch, has been appointed as
India's next Ambassador to Brazil.
● Bhatia is currently serving as India's Ambassador to Argentina, a position he has held since
August 21, 2019.
About Brazil :
● President : Luiz Inácio Lula da Silva
● Capital : Brasília
● Currency : Real

G Balasubramanian Named as India's New High Commissioner to Maldives

● G Balasubramanian, a 1998 batch Indian Foreign Service (IFS) officer, has been appointed as
the High Commissioner of India to the Maldives.
● The announcement was made in an official statement by India’s Ministry of External Affairs.
● He currently serves as India’s High Commissioner to Nigeria.
● Balasubramanian will succeed Munu Mahawar, who held the position since November 2021.
About Maldives :
● President : Mohamed Muizzu
● Capital : Malé
● Currency : Maldivian rufiyaa

Priyanka Gandhi Vadra Sworn in as Lok Sabha MP After Wayanad Bypoll Win
● Priyanka Gandhi Vadra took oath as a Lok Sabha Member of Parliament (MP) on November 28,
2024, following her victory in the Wayanad Lok Sabha bypoll.
● She defeated Sathyan Mokeri of the CPI(M)-led LDF by a margin of over four lakh votes,
surpassing her brother Rahul Gandhi’s previous tally in the constituency.
● With Priyanka Gandhi’s entry into the Lok Sabha, there are now three members of the Gandhi
family in Parliament:
○ Priyanka Gandhi: Lok Sabha member.

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 Important Monthly Current Affairs Capsule – November 2024

○ Rahul Gandhi: Lok Sabha member.

○ Sonia Gandhi: Rajya Sabha member (opted out of the 2024 Lok Sabha polls).

Google appoints ex-Apple executive Mitul Shah to head Pixel business in India
● Google has appointed Mitul Shah, a former Apple India executive, as the Managing Director for
its Devices and Services business in India.
● In his new role, Mitul Shah will be responsible for leading the sales and expansion strategies for
Google's Pixel smartphones across India.

Samsung appoints first female CEO outside founding family in 86 years

● Kim Kyung-Ah has been appointed as the first female Chief Executive Officer (CEO) outside the
founding family of Samsung Group in its 86-year history.
● She will serve as the president and CEO of Samsung Bioepis Co..
● This appointment marks a major milestone for Samsung, breaking the tradition of male
leadership within the founding family, and highlights the advancement of women in business
leadership roles in South Korea, a country with historically low representation of women in
corporate leadership
● Kim Kyung-Ah becomes the second woman to lead a Samsung affiliate.
● The first was Lee Boo-jin, granddaughter of Samsung’s founder, who currently serves as CEO of
Hotel Shilla Co..
About Samsung :
● Founded : 1 March 1938
● Headquarters : South Korea
● Chairman : Lee Jae-yong

Eknath Shinde Steps Down, To Act as Caretaker Chief Minister Amid Maharashtra Uncertainty
● Eknath Shinde resigned as Chief Minister of Maharashtra and was appointed as the caretaker
Chief Minister by Governor CP Radhakrishnan as the Maharashtra assembly’s term ended.

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 Important Monthly Current Affairs Capsule – November 2024

● The resignation marks ongoing uncertainty regarding the next Chief Minister of Maharashtra,
despite the landslide victory of the BJP-led Mahayuti (Shiv Sena, BJP, and Ajit Pawar’s NCP
faction) coalition.
● The BJP-led Mahayuti won 230 out of 288 assembly seats in the recent Maharashtra elections.
About Maharashtra :
● Governor: C. P. Radhakrishnan
● Capital: Mumbai
● National Park: Tadoba National Park, Navegaon National Park
● Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife
Sanctuary
● UNESCO Heritage Sites: Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco
Ensemble of Mumbai, Ajanta Caves, Elephanta Caves, Ellora Caves

Yamandú Orsi Wins Run-Off Election to Become Uruguay's Next President

● Yamandú Orsi, a left-wing politician from the Broad Front alliance, won the run-off election to
become Uruguay's next president.
● He secured 49.8% of the vote, defeating Álvaro Delgado of the centre-right National Party, who
received 45.9% support.
About Uruguay :
● Capital : Montevideo
● Currency : Uruguayan peso

Rashmika Mandanna Named National Brand Ambassador for Cyber Safety

● Actor Rashmika Mandanna has been appointed as the national brand ambassador for the Indian
Cyber Crime Coordination Centre (I4C).
● I4C is an initiative by the Ministry of Home Affairs (MHA) to combat cyber crimes.
● Role and Responsibilities : Rashmika Mandanna will lead nationwide cyber awareness
campaigns to educate the public on various cyber crimes, including deepfake technology.
About Indian Cyber Crime Coordination Centre (I4C) :
● Launched : 2018
● The centre is located in New Delhi.

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 Important Monthly Current Affairs Capsule – November 2024

● Established by the Ministry of Home Affairs, the I4C provides a framework and ecosystem for law
enforcement agencies to address cyber crimes in a coordinated and comprehensive manner.

SBI Mutual Fund Appoints Nand Kishore as Managing Director and Chief Executive Officer, Replacing
Shamsher Singh
● Nand Kishore has been appointed as the Managing Director (MD) & Chief Executive Officer
(CEO) of SBI Funds Management.
● He replaces Shamsher Singh in this role.
● Prior to his appointment, Nand Kishore was serving as the Deputy Managing Director (Global
Markets) at SBI’s Corporate Centre in Mumbai, where he was responsible for overseeing the
bank’s treasury operations.
About SBI Funds Management Limited (SBIFML):
● SBIFML is a joint venture between State Bank of India(SBI) and AMUNDI Asset Management
through a wholly owned subsidiary Amundi India Holding.

MOUS AND AGREEMENT

Indian Railways Renews MoU with Switzerland's DETEC for Modernization and Efficiency
• Indian Railways has renewed its Memorandum of Understanding (MoU) with Switzerland’s
Federal Department of the Environment, Transport, Energy and Communications (DETEC).
• This agreement, initially established in 2017, reinforces India’s commitment to modernizing
railway infrastructure and improving operational efficiency.
• The MoU targets several critical areas for railway enhancement, including:
• Track Maintenance and Management: Integrating advanced solutions to improve track quality
and management efficiency.

Spain and India Strengthen Ties with Strategic Focus on Renewable Energy and Infrastructure
• In a landmark visit, Spain’s PresidentH.E. Pedro Sánchez, the first Spanish President to visit
India in 18 years, expressed robust support for expanding collaborations to align withIndia's
renewable energy goals and infrastructure ambitions at the Spain-India Business Summit
organised by the Confederation of Indian Industry (CII).

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 Important Monthly Current Affairs Capsule – November 2024

• Sánchez emphasized Spain's expertise in renewable energy, particularly in solar and wind
power, as a critical resource to support India’s target of generating 500 gigawatts of renewable
energy by 2030.

GST Network Implements Three-Year Limit for Filing Returns

• The Goods and Services Tax Network (GSTN) announced that starting early next year(2025),
GST taxpayers can no longer file their monthly and annual GST returns after three years from the
original filing due date.
• This change aims to enhance compliance and ensure timely reporting.
• Time Limitation: GST outward supply returns, returns related to payment of liability, annual
returns, and tax collected at source will become time-barred three years after their respective due
dates.
• Implementation Timeline: These changes will take effect on the GST portal from early 2025.

Uttar Pradesh Boosts Solar Capacity with Floating Solar Plants and Renewable Energy Initiatives
• Uttar Pradesh aims to generate 14,000 MW of solar power by 2027, expanding its renewable
energy portfolio to reduce carbon emissions and promote sustainable energy.
• Floating Solar Power Projects in Partnership with Energy Firms
• The state will develop floating solar power plants across seven major reservoirs in partnership
withNTPC, Tehri Hydro Development Corporation (THDC), and Satluj Jal Vidyut Nigam (SJVN).
These floating projects will utilize water bodies to produce solar power efficiently without
occupying land space.

NTPC and ONGC Join Forces to Drive Renewable Energy Growth in India
• NTPC Green Energy Ltd. and ONGC Green Energy Ltd. have established a 50:50 Joint Venture
Company (JVC) to enhance their efforts in the renewable energy sector.
• This partnership was formalized on February 7, 2024, during the India Energy Week 2024.
• The JVC will concentrate on a diverse range of renewable and new energy initiatives, including:
o Solar and Wind Energy: Both onshore and offshore projects.
o Energy Storage: Development of pumped storage and battery storage systems.

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 Important Monthly Current Affairs Capsule – November 2024

o Green Molecules: Production of green hydrogen, green ammonia, sustainable aviation fuel
(SAF), and green methanol.
o E-Mobility: Exploration of electric mobility solutions.
o Carbon and Green Credits: Participation in carbon credit and green credit schemes.

Adani Enterprises Cancels Demerger of Food FMCG Business

• Adani Enterprises has officially cancelled its plans to demerge its food fast-moving consumer
goods (FMCG) business to Adani Wilmar.
• This decision follows a strategic review to comply with minimum public shareholding (MPS)
requirements.
• Demerger Plan Background: The demerger, initially announced on August 1, 2024, was intended
to allow Adani group promoters to consolidate control over Adani Wilmar by integrating the food
FMCG business directly under their purview.

Syngenta India Collaborates with ICAR and HAU to Promote Sustainable Farming
• Syngenta India has entered into Memorandums of Understanding (MoUs) with the Central Soil
Salinity Research Institute (CSSRI) in Karnal and Choudhary Charan Singh Haryana Agricultural
University (HAU) in Hisar.
• This collaboration aims to expand sustainable farming practices and enhance crop productivity
across India, focusing on research-based solutions to tackle challenges such as soil health, crop
resilience, and yield enhancement.
• Signing Representatives: The MoUs were signed by Syngenta India’s MD and Country Head,
Susheel Kumar, CSSRI Director R.K. Yadav, and HAU Vice Chancellor B.R. Kamboj.

India and Saudi Arabia Discuss Trade and Investment Cooperation

• India and Saudi Arabia explored avenues to enhance cooperation in key sectors, including
fertilizers, petrochemicals, and mining, aiming to boost bilateral trade and investments.
• The discussions took place during a meeting between Commerce and Industry Minister Piyush
Goyal and Saudi Minister for Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef in
Riyadh, where Goyal is on an official visit.

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 Important Monthly Current Affairs Capsule – November 2024

• Goyal also held talks with Khalid Al Falih, Saudi Arabia's Minister of Investment, focusing on
facilitating investments and identifying collaboration opportunities in pharmaceuticals,
automobiles, and petrochemicals.

Fisheries Ministry, NFDB, and CMFRI to Launch Drone Technology in Marine Fisheries
• The Fisheries Ministry, National Fisheries Development Board (NFDB), and ICAR-Central Marine
Fisheries Research Institute (CMFRI) are partnering to introduce drone technology in the marine
fisheries sector.
• The aim is to boost operational efficiency, reduce labor costs, and minimize environmental
impact across various marine and aquaculture activities.
• Precise feed broadcasting in cage fish farming to optimize feed usage.
• Environmental Monitoring: Early detection of algal blooms and other environmental threats, which
is crucial for fish health.

Russia’s First Deputy Prime Minister Denis Manturov Visits India to Strengthen Bilateral Relations
• Denis Manturov, Russia’s First Deputy Prime Minister, is in India from November 11 to 12 to
bolster trade, economic, and cultural ties between the two nations.
• His visit includes engagements in both Mumbai and New Delhi.

Indonesia and Australia conduct joint military exercises following a new defence agreement
● The Keris Woomera 2024 exercise underscores Indonesia and Australia’s commitment to
reinforcing regional stability and security amid shifting dynamics in the Indo-Pacific region.
Overview of Keris Woomera 2024 Drills
● Participants: Approximately 2,000 troops from both Indonesia and Australia
● Location: Off the coast of Java, Indonesia
● Operations Included:
o Air, maritime, amphibious, and land operations
o Live-fire exercises with tanks, artillery, infantry, and attack helicopters
o Joint landing operation and a non-combat evacuation exercise simulating a disaster
scenario
Purpose and Strategic Significance

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● Objective: To strengthen the military partnership between Indonesia and Australia, enhancing
trust, capabilities, and interoperability

Nazara Partners ONDC To Launch In-Game Shopping Platform

● Nazara Technologies collaborates with ONDC Network to introduce gCommerce, an in-game
eCommerce platform designed to blend shopping and gaming.
● To provide new revenue streams for game developers, leveraging an affiliate revenue-sharing
model where developers earn a commission on successful transactions initiated by players.
● The gCommerce platform represents a forward-thinking step in in-game monetization, creating a
new intersection of entertainment and digital commerce for a richer player experience.
About ONDC Network
● Launch Year: 2021
● Initiative By: Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry
of Commerce & Industry
● Mission: To foster open digital networks for the exchange of goods and services across 611 cities
with 111 network participants.

GAIL Signs Landmark 10-Year LNG Supply Agreement with ADNOC Gas
● GAIL (India) Limited has entered into a 10-year sales and purchase agreement (SPA) with ADNOC
Gas, marking a significant step in India’s efforts to secure energy resources and expand its natural
gas portfolio.
● This is ADNOC Gas’s first SPA with an Indian buyer, underlining the strengthening ties between the
two nations in the energy sector.

CURRENT AFFAIRS: MOU’S AND AGREEMENT

India and Australia Strengthen Ties with Renewable Energy Partnership and Comprehensive Economic
Cooperation Agreement
● India and Australia have taken significant steps to enhance their bilateral relationship, including
establishing the Renewable Energy Partnership (REP) and committing to a Comprehensive
Economic Cooperation Agreement (CECA).

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 Important Monthly Current Affairs Capsule – November 2024

● These initiatives, discussed during the second annual conclave at the G20 summit, are designed to
bolster cooperation across multiple sectors, including defence, security, critical minerals, renewable
energy, and more.

IIT Madras Pravartak Partners with Codenatives to Launch Salesforce B2C Commerce Developer
Training Program
● IIT Madras Pravartak Technologies Foundation, in collaboration with Codenatives, a U.S.-based IT
company, is introducing an online Salesforce B2C Commerce Developer training program designed
for professionals aspiring to excel in the e-commerce domain.

Tata Power Signs $4.25 Billion Agreement with ADB for Clean Energy Projects
● Tata Power has entered into a $4.25 billion financing agreement with the Asian Development Bank
(ADB) to fund several clean energy power projects.
● This collaboration marks a significant step toward India's clean energy transition and aligns with
global sustainability efforts.

Historic Collaboration to Enhance Healthcare and Education at IMS, BHU

● Union Ministers Dharmendra Pradhan (Education) and J. P. Nadda (Health and Family Welfare)
witnessed the signing of a Tripartite Memorandum of Understanding (MoU) among the Institute of
Medical Sciences (IMS), Banaras Hindu University (BHU), the Ministry of Health and Family
Welfare, and the Ministry of Education.
● This collaboration aims to enhance funding and technical support to IMS, BHU, setting a new
course for the future of healthcare, medical education, and research in India.
● The MoU facilitates the provision of grant-in-aid to IMS, BHU, similar to the funding received by
new AIIMS under the Pradhan Mantri Swasthya Suraksha Yojana (PMSSY).
● This will lead to the establishment of state-of-the-art secondary and tertiary healthcare services
at IMS, BHU, improving the region’s access to high-quality medical care.

Union Minister Manohar Lal Visits Ministry of Power & NTPC Pavilions at IITF 2024
● Shri Manohar Lal, Union Minister of Power, Housing & Urban Affairs, visited the Ministry of
Power and NTPC pavilions at the India International Trade Fair (IITF) 2024.

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 Important Monthly Current Affairs Capsule – November 2024

● He was accompanied by Shri Pankaj Agarwal, Secretary (Power), CMDs of Power CPSEs, and
senior officials from the Ministry of Power and Power Sector CPSEs.

Indian Coast Guard to organize nation's biggest maritime search and rescue exercise
● The Indian Coast Guard (ICG) is hosting the largest-ever National Maritime Search and Rescue
Exercise (SAREX-24), which will take place in Kochi on November 28-29, 2024.
● Objective: The exercise aims to enhance Search and Rescue (SAR) capabilities and strengthen
regional collaboration in maritime safety.
● The event will also feature the 22nd National Maritime Search and Rescue (NMSAR) Board
meeting, contributing to the strengthening of SAR operations.
About ICG :
● Formed : 18 August 1978
● Headquarters : New Delhi, India
● Director General : S Paramesh

TCS Extends Partnership with SPARSH for Defence Pension Services

● Tata Consultancy Services (TCS) has extended its partnership with the Indian government’s System
for Pension Administration – Raksha (SPARSH) for another three years.
● The extension reinforces TCS’s critical role in transforming and managing the digital pension system
for over 30 lakh defence pensioners, ensuring transparency, efficiency, and timely benefits.

India Partners with WinZO to Strengthen Global Gaming Industry Position

● The Department for Promotion of Industry and Internal Trade (DPIIT) has entered a two-year
collaboration with WinZO, a social gaming platform, to bolster India’s role in the $300 billion global
gaming industry.
● This partnership aims to empower startups, innovators, and students while fostering a vibrant
ecosystem for interactive entertainment.

Tech Mahindra Partners with AWS to Launch AI-Powered Autonomous Networks Operations Platform
● Tech Mahindra has entered a multi-year Strategic Collaboration Agreement (SCA) with Amazon
Web Services (AWS) to develop the Autonomous Networks Operations Platform (ANOP).

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 Important Monthly Current Affairs Capsule – November 2024

● This platform is designed to transform network operations for Communication Service Providers
(CSPs) and enterprise customers by leveraging AI, ML, and Generative AI (GenAI) capabilities.

India Signs the Riyadh Design Law Treaty (DLT): A Step Toward Strengthening Intellectual Property
Framework
● India has signed the Riyadh Design Law Treaty (DLT), marking a significant commitment to
enhancing its intellectual property (IP) ecosystem and promoting inclusive growth, especially for
startups, small and medium-sized enterprises (SMEs), and independent designers.
● Objective: The treaty seeks to harmonize procedural frameworks for industrial design protection,
improving the efficiency and accessibility of design registration processes across multiple
jurisdictions globally.

RANKING AND REPORTS

Henley Passport Index 2024: Singapore Tops the List of World’s Most Powerful Passports
• Singapore maintains its position as the world’s most powerful passport in the Henley Passport
Index 2024, offering its citizens visa-free access to 195 countries.
• Tied for 2nd Place: France, Germany, Italy, Japan, and Spain are tied for second place, each
granting visa-free access to 192 countries.
• United States' Rank: The United States is in 8th place with visa-free access to 186 countries,
showing a slight decline in its global standing.
• India’s Position: India ranks 83rd, providing its citizens with visa-free access to 58 countries,
highlighting challenges in global mobility.

Shiv Nadar Tops India’s Philanthropy List with Record-Breaking Donations

• Shiv Nadar, founder of HCL Technologies Ltd., retained his title as India’s top philanthropist for
the third time in five years.
• He donated ₹2,153 crore (equivalent to ₹5.9 crore per day) in 2023-24, topping the Edelgive-
Hurun India Philanthropy List 2024.
• Top Philanthropists in India:
o Mukesh Ambani and his family ranked second, contributing ₹407 crore through Reliance
Foundation.
o Other prominent names among the top 10 philanthropists include:

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 Important Monthly Current Affairs Capsule – November 2024

▪ Bajaj family - ₹352 crore

▪ Kumar Mangalam Birla and family - ₹334 crore
▪ Gautam Adani and family - ₹330 crore
▪ Nandan Nilekani - ₹307 crore
▪ Krishna Chivukula (donation to IIT Madras) - ₹228 crore
▪ Anil Agarwal and family - ₹181 crore
▪ Susmita and Subroto Bagchi - ₹179 crore
▪ Rohini Nilekani - ₹154 crore

India Emerges as Global Smartphone Market Leader, Driven by Premium Segment Growth
• India has become the second-largest smartphone market globally by unit volume and the third-
largest by value in Q3 2024, as per Counterpoint Research.
• India accounted for 15.5% of global smartphone shipments, behind only China (22%) and the
United States (12%).
• By market value, India captured 12.3%, showing a slight increase from 12.1% in the same period
last year.

India's Air Pollution Crisis: 39 Cities Among Top 100 Most Polluted Globally
● According to the S&P Global Mobility Report, 39 Indian cities have made it to the top 100 most
polluted cities worldwide, surpassing China’s 30 cities.
● This alarming statistic highlights the ongoing air quality challenges in India, particularly in urban
centres.
● Delhi’s Severe Air Pollution
o Delhi continues to grapple with hazardous air quality, with AQI levels frequently exceeding
500, indicating dangerous pollution levels.
o In 2023, Delhi was ranked as the most polluted capital city globally by IQAir, with Beijing
(China) ranking 18th.
● South Asian Context
o Beyond India, Pakistan ranks third on the list with seven cities, followed by Bangladesh (5
cities) and Nepal (2 cities).
o Over 53% of the top 100 polluted cities are located in the Indian subcontinent, underscoring
the region’s shared environmental challenges.

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 Important Monthly Current Affairs Capsule – November 2024

● Global PM2.5 Rankings

o India ranks third in countries with the highest average PM2.5 concentrations, following
Bangladesh and Pakistan.
o China, ranked 19th, demonstrates progress in reducing air pollution compared to its South
Asian counterparts.

India Ranked 10th in Global Climate Change Performance Index (CCPI 2025)
● India has retained its position in the top 10 in the Climate Change Performance Index (CCPI 2025),
a global assessment of countries’ efforts to combat climate change.
● Despite slipping two spots from 2023, India continues to stand out for its low per-capita emissions
and impressive progress in renewable energy deployment.
● India's Performance:
o Rank: India ranks 10th in the 2025 CCPI, remaining among the highest performers globally.
o Strengths: The country's low per capita emissions (2.9 tons of CO2 equivalent, well below the
global average of 6.6 tCO2e) and rapid renewable energy adoption are highlighted as key
strengths. India has also made significant strides in large-scale solar energy and the Rooftop
Solar Scheme.
● Global Context:
o Top Rankings Empty: No country earned a “very high” rating, leaving the first three places
empty.
o Leaders: Denmark, Netherlands, and the UK lead the rankings, driven by strong coal phase-
out policies and renewable energy investments.
o Poor Performers: The US (57th) and China (55th) remain among the worst performers due to
their continued reliance on coal and insufficient climate action.
o Lowest-Ranked Countries: Iran (67th), Saudi Arabia (66th), UAE (65th), and Russia (64th)
rank at the bottom due to their heavy dependence on fossil fuels.

Sustainable Trade Index 2024: Global Rankings and Insights

● The Sustainable Trade Index 2024 highlights the growing focus on resilience in global economies,
especially in the aftermath of the pandemic and in response to health crises, climate change, and
geopolitical tensions.

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 Important Monthly Current Affairs Capsule – November 2024

● As nations strive to build more resilient economies, there is a noticeable shift towards sustainable
trade practices, which aim to balance economic growth, societal advancement, and environmental
resilience.
What is Sustainable Trade?
Sustainable trade is defined as trade that benefits all partners by addressing three key areas:
● Economic: Fostering growth and prosperity.
● Societal: Ensuring equitable social outcomes.
● Environmental: Minimizing negative impacts on the planet.
● The Hinrich Foundation and IMD’s Sustainable Trade Index 2024 ranks global economies based on
economic growth, societal advancement, and environmental resilience.
Here are the top 10 most sustainable trade economies globally in 2024:
Rank Economy Overall Economic Societal Environmental
1 New Zealand 100 86 100 100
2 United Kingdom 97.7 87.8 93.7 99.4
3 Australia 87.4 75.4 99.6 83.2
4 Singapore 85.7 92.4 87 75.2
5 Japan 81.5 72.2 81.9 91.2
6 South Korea 81.4 92.2 85.4 67.4
7 Hong Kong 81.4 100 65.8 79.2
8 Canada 80 81.1 99.8 61
9 Taiwan 72.3 76.7 87.1 61.2
10 United States 72.2 90 69.4 65.3

Karnataka Tops India in Positive Talent Balance (PTB): Xpheno Report

● A recent study by Bengaluru-based staffing company Xpheno highlights Karnataka as the leading
state in India for Positive Talent Balance (PTB), as revealed by Karnataka's Minister for Large and
Medium Industries, M B Patil.
National Rankings
● Karnataka ranked 1st in PTB.
● Haryana and Telangana secured 2nd and 3rd positions, respectively.

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 Important Monthly Current Affairs Capsule – November 2024

ACQUISITION AND MERGERS

Competition Commission of India Greenlights JM Financial Limited's Purchase of 42.99% Stake in JM
Financial Credit Solutions Limited
• The Competition Commission of India (CCI) approved two significant acquisitions:
• JM Financial Limited (JMFL) will acquire 42.99% of the total paid-up share capital of JM Financial
Credit Solutions Limited (JMFCSL).
• JMFCSL will acquire 71.79% of the total paid-up share capital of JM Financial Asset
Reconstruction Company Limited (JMFARC).
About CCI :
• Established : 14 October 2003
• Headquarters : New Delhi, India
• Chairman : Ravneet Kaur
• CCI is the chief national competition regulator in India.
• It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the
Competition Act, 2002.

Tata Power Secures 40% Stake in Khorlochhu Hydro Power for ₹830 Crore
• Tata Power has acquired a 40% stake in Khorlochhu Hydro Power Limited located in Bhutan for
₹830 crore.
• The acquisition is part of an agreement with Druk Green Power Company (DGPC) to develop a
hydroelectric project in Bhutan, with an estimated total project cost of ₹6,900 crore.
About Tata Power Company Limited:
• Founded : 18 September 1919
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Praveer Sinha
• Tata Power Company Limited is an Indian electric utility and electricity generation company
based in Mumbai, India and is part of the Tata Group.

Bandhan Financial Services acquires Genisys Group to broaden its international presence
• Bandhan Financial Services (Bandhan Group) acquired Genisys Group, a global IT and business
process services company.
• This marks Bandhan Group's strategic entry into the technology sector.

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 Important Monthly Current Affairs Capsule – November 2024

• Expansion of Global Footprint:The acquisition will help Bandhan Group expand its presence in
global markets.
• New offices will be established in the US, UK, and India.

Life Insurance Corporation Sells 2.02% Stake in Tata Power for ₹2,888 Crore
● Life Insurance Corporation (LIC) sold a 2.02% stake in Tata Power for ₹2,888 crore, reducing its
holding in the company from 5.906% to 3.881%.
● LIC sold 6.47 crore shares of Tata Power, reducing its stake from 18,87,06,367 shares to
12,39,91,097 shares.
About LIC :
● Founded : 1 September 1956
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Siddhartha Mohanty

Air India and Vistara merger finalized; Singapore Airlines acquires 25.1% stake
● The Air India Group completed the operational and legal merger between Air India and Vistara,
enabling Singapore Airlines (SIA) to hold a 25.1 per cent stake in the merged entity.
● Previous Structure of Vistara: Vistara was previously a joint venture with a 51:49 shareholding
ratio between Tata Group and Singapore Airlines.
About Air India :
● Founded : 15 October 1932 (Commenced operations-29 July 1946)
● Headquarters : Gurgaon, Haryana, India
● Chairman : Natarajan Chandrasekaran
● MD & CEO : Campbell Wilson
About Vistara :
● Founded : 2013 (Commenced operations-9 January 2015 & 12 November 2024 (merged into Air
India))
● Headquarters : Gurgaon, Haryana, India
● Chairman : Bhaskar Bhat

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 Important Monthly Current Affairs Capsule – November 2024

● CEO : Vinod Kannan

Reliance Industries Finalizes Merger of Media Assets with Walt Disney India to Create Rs 70,352 Crore
Joint Venture
● Reliance Industries has completed the merger of its media assets with the India business of
global media house Walt Disney, forming a joint venture (JV) worth ₹70,352 crore.
● Investment and Stake Distribution:Reliance Industries has invested ₹11,500 crore (USD 1.4
billion) into the JV.
● Reliance holds a 63.16% stake in the JV, divided as:
○ 16.34% stake through Reliance Industries Limited (RIL).
○ 46.82% stake through Viacom18.
● Walt Disney holds the remaining 36.84% stake in the JV.
About Reliance Industries Limited :
● Founded : 1958
● Headquarters : Mumbai, Maharashtra, India
● Chairman & MD : Mukesh Ambani
About Walt Disney Company India :
● Founded : August 1993
● Headquarters : Mumbai, Maharashtra, India

Department for Promotion of Industry and Internal Trade Approves Hinduja Group's IndusInd
International Holdings Limited to Acquire Reliance Capital
● The Department for Promotion of Industry and Internal Trade (DPIIT) has approved the
acquisition of debt-ridden Reliance Capital Limited (RCAP) by Hinduja Group's firm, IndusInd
International Holdings Limited (IIHL).
● DPIIT approval was required as some of the shareholders of IndusInd International Holdings Ltd
(IIHL) are residents of Hong Kong, a special administrative region controlled by China.
About DPIIT :
● The DPIIT is a central government department under the Ministry of Commerce and Industry in
India.
About Reliance Capital Limited :
● Founded : 5 March 1986

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 Important Monthly Current Affairs Capsule – November 2024

● Headquarters : Navi Mumbai, India

● Chairman : Anil Ambani

Securities and Exchange Board of India Approves Roshni Nadar's Majority Stake Acquisition in
HCLTech
● The Securities and Exchange Board of India (SEBI) has approved Roshni Nadar's acquisition of
a majority shareholding in two promoter group companies of HCL, namely Vama Sundari
Investments (VSIPL) and HCL Corporation, from her father, Shiv Nadar.
● After the acquisition, Roshni Nadar's stake in VSIPL and HCL Corporation will increase to 57% in
both companies.
● Current Stake Structure:VSIPL holds a 44.17% stake in HCL Tech and 12.94% in HCL
Infosystems.
● HCL Corporation holds a 0.17% stake in HCL Tech and 49.95% in HCL Infosystems.

NBCC India aims to acquire defunct PSUs for land redevelopment and monetization
● NBCC India Limited aims to acquire defunct public sector undertakings (PSUs) to redevelop and
monetize their land.
● The company plans to set up a new subsidiary to acquire non-operational PSUs for the purpose
of land monetization.

Competition Commission of India Approves Kotak Mahindra Bank's Acquisition of Standard Chartered
Bank's Unsecured Personal Loan Portfolio in India
● The Competition Commission of India (CCI) approved Kotak Mahindra Bank Limited (KMBL) to
acquire the standard unsecured personal loans portfolio of Standard Chartered Bank, India
Branch.
● The transaction involves a loan portfolio of approximately ₹4,100 crore (~$490 million) as of
September 30, 2024.
● The loans are categorised as Standard Loans as per the guidelines issued by the Reserve Bank
of India (RBI).

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 Important Monthly Current Affairs Capsule – November 2024

● The transaction is expected to close within the next three months, subject to regulatory approvals
and fulfilment of other closing requirements.
About CCI :
● Formed : 14 October 2003
● Headquarters : New Delhi, India
● Chairperson : Ravneet Kaur
● It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the
Competition Act, 2002 to promote competition and prevent activities that have an appreciable
adverse effect on competition in India.
About Kotak Mahindra Bank Limited :
● Founded : 6 February 2003
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Ashok Vaswani

Competition Commission of India Approves Shoreline International Holdings' Acquisition of Stake in

Flipkart
● The Competition Commission of India (CCI) approved the acquisition of a stake in Flipkart by
Shoreline International Holdings LLC, a wholly-owned subsidiary of Alphabet Inc. (Google's
parent company).
● Shoreline International is a holding company that does not operate any Google products or
services.
● The transaction involves share subscription in Flipkart Pvt Ltd and an arrangement for certain
services provided by an affiliate of Shoreline to Flipkart’s subsidiary.

Government Raises ₹3,449 Crore by Selling 1.6% Stake in Hindustan Zinc Through Offer-for-sale
● The government raised ₹3,449 crore by selling 1.6% stake in Hindustan Zinc Limited (HZL)
through an Offer-for-Sale (OFS).
● Details of the OFS:The OFS took place on November 6-7, with the government initially proposing
to sell over 5.28 crore shares (1.25% stake) and a greenshoe option for additional subscriptions.
About Hindustan Zinc Limited :
● Founded : 1966
● Headquarters : Udaipur, Rajasthan, India

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 Important Monthly Current Affairs Capsule – November 2024

● Chairman : Priya Agarwal Hebbar

● CEO : Arun Misra

DEFENCE NEWS
Government Seeks Transparent and Efficient Procurement Model for 114 Multi-Role Fighter Aircraft
Tender
• The Indian government is reassessing its procurement model for acquiring 114 Multi-Role Fighter
Aircraft (MRFA) in light of previous controversies surrounding the procurement of 36 Rafale
fighter jets.
• The Indian Air Force (IAF) is experiencing a significant shortage in squadron strength, currently
at 30 squadrons, well below the sanctioned strength of 42.
• There is an urgent need for quick induction of new fighter jets.
• Indigenous Manufacturing: The Request For Information (RFI) for the MRFA was issued in April
2019, emphasizing the requirement for license-manufacturing in India with substantial technology
transfer.

Indian Army Sets Off for 15th Joint Special Forces Exercise VAJRA PRAHAR with United States Army
• The Indian Army contingent departed for the 15th edition of India- US joint Special Forces
Exercise VAJRA PRAHAR.
• The exercise is scheduled to be conducted from 2nd to 22nd November 2024 at Orchard Combat
Training Centre in Idaho, United States of America (USA).
• The first edition of VAJRA PRAHAR was conducted in 2010.
• The 14th edition, VAJRA PRAHAR 2023, was held in December 2023 at the Joint Training Node,
Umroi, Meghalaya.

Indian Army Special Forces Contingent Heads to Indonesia for Joint Exercise ‘GARUD SHAKTI’

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 Important Monthly Current Affairs Capsule – November 2024

• The Indian Army contingent comprising 25 personnel departed for Cijantung, Jakarta, Indonesia
to take part in the 9th edition of India-Indonesia Joint Special Forces Exercise GARUD SHAKTI
24.
• The Exercise will be conducted from 1st to 12th of November 2024.
• The Indian contingent is being represented by troops from The Parachute Regiment (Special
Forces) and an Indonesian contingent comprising 40 personnel is being represented by
Indonesian Special Forces Kopassus.

Indian Army, Air Force, and Navy to Launch Command-Level Tri-Service Exercise 'Poorvi Prahar' Near
India-China Border
• The Indian Army, Indian Air Force, and Indian Navy will jointly conduct a command-level tri-
service theatre exercise named 'Poorvi Prahar' along the India-China border.
• The exercise will take place from 10-18 November 2024 and holds significance for India’s efforts
to establish an integrated theatre command.
• Purpose and Importance:The exercise is part of India’s broader strategy to set up an integrated
theatre command, aimed at enhancing military coordination across services.

Indian Navy Conducts MAHASAGAR Exercise on Maritime Security Training

• The Indian Navy organised the third edition of MAHASAGAR, a virtual high-level interaction that
brought together prominent maritime leaders from the Indian Ocean Region (IOR).
• Admiral Dinesh Kumar Tripathi led the discussions, engaging with representatives from countries
including Bangladesh, the Maldives, and Kenya.
• MAHASAGAR translates to "vast ocean" in Hindi.
• It is the Indian Navy's flagship initiative aimed at fostering dialogue among maritime heads in the
IOR.
About Indian Navy :
• Chief of the Naval Staff : Admiral Dinesh K Tripathi
• Vice Chief of the Naval Staff : Vice Admiral Krishna Swaminathan

India-Vietnam Joint Military Exercise VINBAX 2024 Begins in Ambala, Haryana

• The 5th Edition of Vietnam Indian Bilateral Army Exercise “VINBAX 2024” commenced at
Ambala,Haryana.

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 Important Monthly Current Affairs Capsule – November 2024

• The exercise is scheduled to be conducted from 04 to 23 November 2024 at Ambala and

Chandimandir.
• The exercise is a sequel to previously conducted bilateral exercise in Vietnam in 2023 and a
major milestone in strengthening the bilateral relations between India and Vietnam.

CDS Gen Anil Chauhan inaugurates the 2nd Edition of the Indian Military Heritage Festival
• Chief of Defence Staff General Anil Chauhan inaugurated the 2nd annual Indian Military Heritage
Festival (IMHF) in New Delhi.
• Held on November 08-09, 2024, the festival is designed to engage global and Indian think tanks,
corporations, non-profits, and scholars with a focus on:
o National Security
o Foreign Policy
o Military History and Heritage

India, Australia launch 3rd edition of joint military exercise

• The 3rd edition of the joint military exercise AUSTRAHIND between India and Australia
began at the Foreign Training Node in Pune, Maharashtra.
• The exercise, scheduled from November 8 to 21, alternates between the two nations, with
the previous edition held in Australia in December 2023.
• Indian Contingent:
o 140 personnel from the DOGRA Regiment and 14 members of the Indian Air Force
are participating in the exercise.

Defence Research and Development Organisation Successfully Conducts First Flight Test of Long
Range Land Attack Cruise Missile off Odisha Coast
• The Defence Research and Development Organisation (DRDO) conducted the first flight-test of
the Long Range Land Attack Cruise Missile (LRLACM) on November 12, 2024.
• The test was conducted from the Integrated Test Range (ITR), Chandipur, off the coast of
Odisha, using a mobile articulated launcher.
• Missile Features:The missile has a range of 1,000 km and is an improved variant of the Nirbhay
LRLACM.
About DRDO :

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 Important Monthly Current Affairs Capsule – November 2024

• Established : 1958
• Headquarters : New Delhi, India
• Chairman : Sameer V. Kamat

Air Marshal Ashutosh Dixit Launches C-295 Full Motion Simulator at Agra Air Force Station
• Air Marshal Ashutosh Dixit, AOC-in-C Central Air Command, inaugurated the IAF C-295 Full
Motion Simulator (FMS) on 11th November 2024 at Air Force Station Agra.
• The FMS will allow significant portions of pilot training to be conducted in a simulator, conserving
flying hours on the actual aircraft.

DRDO Transfers Authority Holding Sealed Specifications of P-7 Parachute System to Directorate
General of Quality Assurance
• The Authority Holding Sealed Particulars (AHSP) of the P-7 Parachute System was handed over
by DRDO’s Aerial Delivery Research and Development Establishment (ADRDE), Agra, to the
Directorate General of Quality Assurance (DGQA) on November 11, 2024.
• Manufacturing Partner: The parachute system was manufactured by Gliders India Limited (GIL) -
Ordnance Parachute Factory (OPF) in Kanpur.

Indian Navy to host fourth edition of coastal defence exercise 'Sea Vigil-24'
● The Indian Navy is set to conduct the 4th edition of the ‘Pan-India’ Coastal Defence Exercise
‘Sea Vigil-24’ on 20 & 21 Nov 2024.
● The exercise will span an unprecedented scale, both in terms of geographical reach and the
magnitude of participation, with involvement of 06 Ministries and 21 Organisations/ agencies.
● The Coastal Defence & Security Readiness Evaluation (CDSRE) phase of the exercise is being
conducted by Naval Officer-in-Charges of all coastal states and UTs (incl Lakshadweep & A&N
Island) since end Oct 24, where in thorough audit of complete coastal defence and security
infrastructure is being carried out.
● Background and Purpose : Originally conceptualised in 2018, Sea Vigil was designed to validate
and enhance measures adopted to bolster Coastal Defence, post the 26/11 Mumbai terror
attacks.

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 Important Monthly Current Affairs Capsule – November 2024

● Encompassing the entire 11,098 km coastline and vast Exclusive Economic Zone of 2.4 million
square kilometres, this comprehensive exercise will engage complete coastal security
infrastructure and all maritime stakeholders, including the fishing community and coastal
populace, simultaneously.
● The 3rd edition of the ‘Pan-India’ Coastal Defence Exercise ‘Sea Vigil-22’ will be conducted on
15-16 Nov 22.
● Precursor to TROPEX:Sea Vigil-24 acts as a precursor to the Theatre Level Readiness
Operational Exercise (TROPEX), conducted biennially by the Indian Navy.

Defence Space Agency Conducts First ‘Exercise Antariksha Abhyas – 2024’ to Boost Space Warfare
Strategic Readiness
● The Defence Space Agency (DSA), under the Headquarters Integrated Defence Staff (IDS),
conducted the Space Table Top Exercise titled Antariksha Abhyas-2024 from November 11-13,
2024.
● The exercise aimed to strengthen India's space-based operational capabilities and enhance the
tri-services integration for space security.

Defence Research and Development Organisation Successfully Conducts Flight Trial of India’s First
Long-Range Hypersonic Missile off Odisha Coast
● The Defence Research and Development Organisation (DRDO) successfully conducted the
flight trial of India's first long-range hypersonic missile on November 16, 2024, from Dr APJ Abdul
Kalam Island off the Odisha coast.
● The hypersonic missile is designed to carry various payloads and has a range of over 1,500 km.
● It can travel at speeds greater than five times the speed of sound (Mach 5), with advanced
versions capable of speeds exceeding Mach 15.
● Missile Development:The missile was indigenously developed by DRDO laboratories, including
the Dr APJ Abdul Kalam Missile Complex in Hyderabad, in collaboration with other DRDO
laboratories and industry partners.
● Countries like Russia, China, the US, France, Germany, Australia, Japan, Iran, and Israel are
also developing hypersonic missile systems.
About DRDO :
● Founded : 1958

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 Important Monthly Current Affairs Capsule – November 2024

● Headquarters : New Delhi, India

● Chairman : Sameer V. Kamat

India and Japan Sign Memorandum of Implementation for Co-Development of Unicorn Masts for Indian
Navy
● A Memorandum of Implementation was signed at the Embassy of India, Tokyo between
Government of India and Government of Japan, for co-development of Unified Complex Radio
Antenna (UNICORN) mast for fitment onboard Ships of Indian Navy.
● The MOI was signed and exchanged between the Ambassador of India to Japan, H.E. Shri Sibi
George and Mr. Ishikawa Takeshi, Commissioner of Acquisition Technology and Logistics
Agency (ATLA) under Japan MoD in a ceremony at Tokyo.
● UNICORN (Unified Complex Radio Antenna) is an advanced mast with integrated
communication systems designed to improve the stealth characteristics of naval platforms.
● It will be installed on Indian Navy warships.
● Co-Development and Collaboration: The UNICORN mast will be co-developed by Bharat
Electronics Limited (BEL) in India in collaboration with Japanese technology partners.
● This is the first instance of co-development and co-production of defense equipment between
India and Japan.

Indian Coast Guard Conducts Regional Pollution Response Exercise (Re-PREX-24) at Paradip, Odisha
from November 12-14, 2024
● The Indian Coast Guard (ICG) (Odisha), under the aegis of Coast Guard Region (North East),
conducted a Regional Level Pollution Response Exercise (Re-PREX-24) at Paradip from
November 12 to 14, 2024.
● The exercise was aimed to enhance preparedness and coordination among various stakeholders
in responding to oil spills and other marine pollution incidents.
● The event included professional presentations, discussions, and a mock drill onboard an ICG
ship off the coast of Paradip, simulating real-life pollution response scenarios.
About Indian Coast Guard :
● Formed: August 18, 1978
● Headquarters: New Delhi

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 Important Monthly Current Affairs Capsule – November 2024

● Jurisdiction: The ICG has jurisdiction over India's territorial waters, contiguous zone, and
exclusive economic zone (EEZ).
● Coast Guard Day: Celebrated on February 1.

Defence Research and Development Organisation Successfully Conducts Flight Tests of Guided
Pinaka Rocket System
● Defence Research and Development Organisation (DRDO) has successfully completed the
Flight Tests of Guided Pinaka Weapon System as part of Provisional Staff Qualitative
Requirements (PSQR) Validation Trials.
● Historical Context:First deployed during the 1999 Kargil War, the Pinaka MBRL (Multiple Barrel
Rocket Launcher) impressed the Army, leading to its adoption as a replacement for the Soviet-
era GRAD BM-21.
● Specifications and Capabilities:
● Original Pinaka (Mark I):
○ Range: 37.5 km.
○ Accuracy: 500 meters.
● Enhanced Pinaka:
○ Range: 75 km.
○ Accuracy: Within 10 meters of the target.
○ Rapid deployment: Takes 3 minutes to set up and fire.
○ High firepower: A battery can launch 216 rockets, delivering 7 tonnes of explosives within
44 seconds.
Collaborations:
● Led by DRDO labs: Armament Research & Development Establishment (ARDE) and High
Energy Materials Research Laboratory (HEMRL), Pune.
● Supported by private firms: Larsen & Toubro (L&T) and Tata Power Company Ltd (TPCL).
● Small and medium-scale industries and PSUs like Bharat Earth Movers Ltd, Bharat Electronics
Ltd, and Bharat Dynamics Ltd contributed.
● Foreign Expertise:Assistance from SAGEM (France) and Fuchs Electronics (South Africa).

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 Important Monthly Current Affairs Capsule – November 2024

Indian Navy's New 25T Bollard Pull Tug "Yuvan" Unveiled in Kolkata
● The contract for constructing and delivering six 25T BP Tugs was signed with M/s Titagarh Rail
Systems Limited (TRSL).
● The project aligns with the Government of India's initiatives: ‘Make in India’ and ‘Aatmanirbhar
Bharat’.
● The tugs are being built under the classification rules of the Indian Register of Shipping (IRS).
About Indian Navy :
● Founded : 26 January 1950
● Headquarters : New Delhi, India
● Chief of the Naval Staff (CNS) : Admiral Dinesh K Tripathi

Indian and Sri Lankan Coast Guards hold 7th Annual High-Level Meeting in Colombo to Address
Transnational Maritime Crime and Strengthen Regional Cooperation
● The 7th Annual High-Level Meeting (HLM) between the Indian Coast Guard (ICG) and the Sri
Lanka Coast Guard (SLCG) was conducted at Colombo, Sri Lanka.
● Its primary goal is to enhance cooperation to address transnational maritime crime and promote
regional maritime safety and security.
● This meeting is held annually as part of the Memorandum of Understanding (MoU) signed
between the two agencies in May 2018.

● The ICG delegation was led by Director General S. Paramesh, Chief of the Indian Coast Guard.
● The SLCG delegation was led by Rear Admiral YR Serasinghe, Director General of the Sri Lanka
Coast Guard.
● The 8th Annual Meeting will be hosted by the Indian Coast Guard in 2025.

Raksha Mantri Shri Rajnath Singh to Participate in 11th ASEAN Defence Ministers' Meeting Plus in Lao
PDR
● Raksha Mantri Shri Rajnath Singh will pay an official visit to Vientiane, Lao PDR from November
20-22, 2024 to attend the ASEAN Defence Ministers’ Meeting Plus (ADMM-Plus).
● During the meeting, he will address the forum on Regional and International Security Issues.

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 Important Monthly Current Affairs Capsule – November 2024

● ADMM and ADMM-Plus:ADMM (ASEAN Defence Ministers’ Meeting) is the highest defence
consultative and cooperative mechanism within ASEAN.
● ADMM-Plus is a platform for ASEAN member states and 8 Dialogue Partners (India, US, China,
Russia, Japan, South Korea, Australia, and New Zealand) to strengthen security and defence
cooperation.
● India became a Dialogue Partner of ASEAN in 1992, and the inaugural ADMM-Plus was
convened in Hanoi, Vietnam on October 12, 2010.

Indian Coast Guard holds the 136th Offshore Security Coordination Committee meeting to assess the
security readiness of India's offshore installations
● Indian Coast Guard (ICG) conducted the 136th Offshore Security Coordination Committee
(OSCC) meeting at Hyderabad, Telangana on November 19, 2024, to review the preparedness
and effectiveness of the security of India's offshore installations.
● The OSCC was formed in 1978 to enhance the security of India's offshore assets.
● Since its inception, OSCC has contributed to the formulation of policies and provided guidance
on offshore security matters.
About Indian Coast Guard :
● Formed : 18 August 1978
● Headquarters : New Delhi
● Director General : Paramesh Sivamani

India and Australia ink air-to-air refueling pact for enhanced defense cooperation
● India and Australia have been strengthening their defense cooperation, particularly through joint
training exercises like Exercise Malabar and counter-submarine patrols, aimed at deterring
Chinese naval presence in the Indian Ocean.
● India and Australia signed an agreement allowing the Royal Australian Air Force (RAAF) and
Indian Armed Forces to conduct air-to-air refueling, enhancing interoperability between the two
nations' military forces.
● Key Agreement Details: Under the agreement, Australia's KC-30A Multi-Role Tanker Transport
will refuel Indian aircraft operating near Australian airspace.

Bharat NCX 2024 Launched: Enhancing Cyber Defense and Strategic Decision-Making Nationwide

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 Important Monthly Current Affairs Capsule – November 2024

● The Bharat National Cyber Security Exercise (Bharat NCX 2024), a landmark initiative to fortify
India’s cybersecurity resilience, was inaugurated at a high-profile ceremony organized by the
National Security Council Secretariat (NSCS) in collaboration with Rashtriya Raksha University
(RRU) in New Delhi.
● The initiative aims to strengthen India’s cybersecurity resilience by preparing professionals and
leadership to handle evolving cyber threats with advanced defense mechanisms.
● The exercise is 12 days long, running from November 18 to November 29, 2024.

Indian Naval Sailing Vessel Tarini Begins Second Leg of Navika Sagar Parikrama-II from Fremantle,
Australia to Lyttelton, New Zealand
● The Indian Naval Sailing Vessel (INSV) Tarini sailed out from Fremantle, Australia on 24
November 2024 for the second leg of the Navika Sagar Parikrama-II expedition, heading to
Lyttelton, New Zealand.
● Purpose of Expedition: The expedition promotes gender equality, maritime cooperation, and
women’s empowerment, while showcasing India’s maritime heritage and global contributions.
● Navika Sagar Parikrama-II: A dual-handed circumnavigation of the earth undertaken by two
women officers of the Indian Navy onboard the 56-ft INSV Tarini, flagged off by the Chief of
Naval Staff, Admiral Dinesh K Tripathi, on 02 October 2024.
● Crew Members: Lt Cdr Dilna K and Lt Cdr Roopa A are the women officers undertaking the
expedition.

Goa Naval Area Organizes 2024 Annual Navy Education Society Conference
● The Annual Navy Education Society (NES) Conference 2024 was held from 20 to 22 November
2024 at Headquarters Goa Naval Area, Vasco-da-Gama, Goa.
● Key Meetings: The conference included meetings of the Executive Committee, Management
Advisory Committee (MAC), and Academic Advisory Committee (AAC). Discussions focused on
implementing the National Education Policy (NEP) 2020 in Naval Schools.

Indian Army Deploys Logistics Drones for Operations in Eastern Sector

● The Indian Army has received Sabal 20 logistics drones from EndureAir Systems, procured for
deployment in the Eastern sector.
● Specifications:

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 Important Monthly Current Affairs Capsule – November 2024

○ Electric unmanned helicopter.

○ Payload capacity: Up to 20 kg.
○ Variable pitch technology.
○ Tandem rotor configuration for stability and high-altitude performance.
○ Advanced VTOL (Vertical Take-Off and Landing) technology for operations in confined
and rugged terrains.
○ Designed for long-range deliveries, high-altitude operations, and precision logistics.
○ Low RPM design minimizes noise, enhancing stealth in sensitive missions.
● Origin: EndureAir Systems was incubated at IIT-Kanpur in 2018.

Indian Army Launches 'Eklavya' Digital Training Platform

● General Upendra Dwivedi, Chief of the Army Staff (COAS), launched the "Eklavya" online
learning platform for the Indian Army.
● Alignment with Indian Army's Vision: The initiative is part of the Indian Army's "Decade of
Transformation" and the theme for 2024 as the "Year of Technology Absorption."
● The platform was developed by the Army Training Command with sponsorship from the Army
War College and collaboration with the Bhaskaracharya National Institute of Space Applications
and Geoinformatics (BISAG-N), Gandhinagar, at zero cost.

SCIENCE & TECHNOLOGY

Russian Rocket Sends Iranian Satellites into Space as Moscow and Tehran Strengthen Relations
• A Russian Soyuz rocket successfully launched from the Vostochny launchpad in eastern Russia,
carrying two Iranian satellites, Kowsar and Hodhod, into orbit.
• The launch marked the first time Iranian satellites were launched on behalf of the country's
private sector.
• In addition to the Iranian satellites, the Soyuz rocket carried Russian Ionosphere-M Earth
observation satellites and several smaller satellites.

United Kingdom's National Health Service tests iPhone technology for throat cancer detection
• The United Kingdom’s (UK's) National Health Service (NHS) is piloting a new device and app
that turns an iPhone into a portable diagnostic tool for throat cancer detection.

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 Important Monthly Current Affairs Capsule – November 2024

• Device Specifications:The device includes a 32 mm lens and an app that captures live
endoscopy examinations in high definition (HD).
• It enables nurses to perform examinations and share results securely with head and neck
consultants via a data cloud.

Japan Achieves Successful Launch of Defense Satellite Using New H3 Rocket

• Japan launched a defence satellite named Kirameki No. 3 aboard its new flagship H3 rocket.
• The launch took place from the Tanegashima Space Centre, located on a southwestern island of
Japan.
• The H3 rocket successfully placed the satellite into its targeted orbit.
• Satellite Functionality:Kirameki No. 3 is equipped with X-band communication technology,
designed to enhance military operations and information sharing.
About Japan :
• Prime Minister : Shigeru Ishiba
• Capital : Tokyo
• Currency : Japanese yen

World Health Organisation Global Report: Tuberculosis Surpasses COVID-19 as the Top Infectious
Disease Cause of Death
• The World Health Organization (WHO) in its latest report, announced that Five countries,
including India, account for over half (56%) of the global TB burden: India (26%), Indonesia
(10%), China (6.8%), the Philippines (6.8%), and Pakistan (6.3%).
• Demographics: Of the individuals diagnosed with TB in 2023, 55% were men, 33% were women,
and 12% were children and young adolescents.
• India's Target: India aims to end TB by 2025, five years ahead of the global target.
About WHO :
• Formation : 7 April 1948
• Headquarters : Geneva, Switzerland
• Director General : Tedros Adhanom Ghebreyesus
• WHO is a specialised agency of the United Nations responsible for international public health.

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 Important Monthly Current Affairs Capsule – November 2024

Zimbabwe’s Milestone in Space Technology: The Launch of ZIMSAT-2

• Overview of the Launch
• Satellite Name: ZIMSAT-2
• Launch Date: 1 AM, from the Vostochny Cosmodrome in Russia
• Launch Vehicle: Soyuz-2.1 spacecraft
• Collaborators: Zimbabwe National Geo-Spatial and Space Agency (ZINGSA) and Southwest
State University in Russia

Indian Institute of Technology Madras Collaborates with Indian Space Research Organisation to Set Up
Research Centre for Spacecraft and Launch Vehicle Thermal Management
• The Indian Institute of Technology Madras (IIT Madras) has partnered with Indian Space
Research Organisation (ISRO) to set up a Centre of Excellence focused on 'Fluid and Thermal
Sciences'.
• ISRO has provided seed funding of ₹1.84 crore for the establishment of the research centre.
• The ISRO and IIT Madras had previously collaborated by setting up the ISRO-IIT-M Space
Technology Cell in 1985.
About ISRO :
• Established: 15 August 1969
• Headquarters: Bangalore, Karnataka, India
• Chairman: S. Somanath

Google introduces AI acceleration programs for Indian startups at Bengaluru summit

• Google announced a suite of initiatives at the AI Startups Summit in Bengaluru, targeting early-
stage AI startups to help them build, grow, and scale AI-driven solutions using Google Cloud.
• The Emerging ISV Partner Springboard is a 12-week programme that provides hands-on support
for AI startups.
• Startups receive guidance in product development, technical architecture, go-to-market
strategies, and onboarding to Google Cloud Marketplace.
About Google :
• Founded : September 4, 1998

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 Important Monthly Current Affairs Capsule – November 2024

• Headquarters : California, United States

• CEO : Sundar Pichai

Indian Space Research Organisation Launches India's First Analog Space Mission to Prepare for Lunar
Mission Experiments
• The Indian Space Research Organisation (ISRO) has launched India’s inaugural analog space
mission in Leh, Ladakh, marking a pioneering step in the nation’s space exploration efforts.
• The mission, spearheaded by ISRO’s Human Spaceflight Centre, brings together partners from
AAKA Space Studio, the University of Ladakh, IIT Bombay, and is supported by the Ladakh
Autonomous Hill Development Council.
• This mission aims to simulate interplanetary habitat conditions, helping scientists explore the
feasibility of establishing a sustainable base station beyond Earth.
About ISRO :
• Established: 15 August 1969
• Headquarters: Bangalore, Karnataka, India
• Chairman: S. Somanath

Russia to Deliver First of Two Missile Frigates by the End of This Month(November 2024)
• India is set to receive its first of two guided-missile warships built in Russia by the end of this
month (November 2024).
• The warship is a multi-role frigate with a displacement of almost 4,000 tonnes.
• It will be commissioned as INS Tushil by Defence Minister Rajnath Singh during his visit in early
December.

France Assessing India’s Pinaka Rocket System for Its Needs

• France is considering India’s Pinaka Multi-Barrel Rocket Launcher (MBRL) system to meet its
military requirements and plans to conduct a detailed evaluation of the system.
• Replacement of M270 Systems: France intends to replace its M270 Lance-Roquettes Unitaire
(LRU) rocket systems, with 13 upgraded M270 systems in service. Six of these were transferred
to Ukraine due to the ongoing conflict.
About France :
• President : Emmanuel Macron

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 Important Monthly Current Affairs Capsule – November 2024

• Prime Minister : Michel Barnier

• Capital : Paris
• Currency : Euro

First Major Results from Payload on Aditya-L1's Maiden Solar Mission

• Scientists at the Indian Institute of Astrophysics (IIA) Bengaluru reported the “first significant”
results from the Visible Emission Line Coronagraph (VELC) payload onboard the ADITYA-L1
Mission.
• ADITYA-L1 — India’s maiden solar mission launched on September 2, 2023 by the Indian Space
Research Organisation (ISRO) to observe the Sun at Lagrangian point L1.
• The spacecraft was inserted into its targeted halo orbit on January 6, 2024.

Israeli Researchers Create Software for In-Memory Processing, Eliminating central processing unit
Dependency
• Israeli researchers have developed software that enables computers to process data directly in
memory, bypassing the need for the central processing unit (CPU).
• Addressing Bottlenecks:This technology addresses the energy- and time-intensive data transfer
between memory and CPU, which has become a bottleneck in modern computing.
• The "Memory Wall" Problem:The research aims to solve the "memory wall" problem, where the
speed of processors and memory capacity increases faster than the data transfer rates.

Japan Just Launched Lingosat, the World's First Wooden Satellite

● The world's first wooden satellite, LignoSat, has been launched, aiming to revolutionize
sustainable space exploration by tackling space debris and minimizing environmental impact.
Here are the key details:
Overview
● Name: LignoSat
● Developed by: Kyoto University and Sumitomo Forestry
● Launch: Aboard a SpaceX rocket from NASA's Kennedy Space Center
● Dimensions: Cube-shaped, 4 inches per side
● Materials: Primarily made from magnolia wood, crafted using traditional Japanese woodworking
techniques

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 Important Monthly Current Affairs Capsule – November 2024

Purpose and Innovation

● Objective: To explore sustainable satellite designs that reduce harmful metal particle release
upon atmospheric reentry.

Indian Space Research Organisation to Launch NISAR Satellite in Early 2025 and Propose Earth
Observation Satellite Collaboration with Mexico
● The Indian Space Research Organisation (ISRO) plans to launch the NASA-ISRO Synthetic
Aperture Radar (NISAR) Earth Observation Satellite in early 2025.
● The satellite will be launched from the Satish Dhawan Space Centre (SDSC), Andhra Pradesh
(AP)
● ISRO has shown interest in building an Earth Observation (EO) satellite for Mexico to strengthen
bilateral relations.
● This cooperation is aimed at enhancing the 75-year-old diplomatic relationship between India and
Mexico.
About ISRO :
● Established: 15 August 1969
● Headquarters: Bangalore, Karnataka, India
● Chairman: S. Somanath

SpaceX's Falcon-9 Launches India's GSAT-N2 Satellite into Orbit

● The GSAT-N2 (GSAT-20) communication satellite was launched by SpaceX's Falcon-9 rocket on
November 19, 2024, from Cape Canaveral Space Force Station in Florida, United States (US).
● This was India's first collaboration with SpaceX.
● GSAT-N2 is a Ka-band high-throughput communication satellite developed by NewSpace India
Limited (NSIL), a commercial arm of ISRO.
● The satellite has a liftoff mass of 4,700 kg and a mission life of 14 years.
● Technology and Features:The satellite features three parabolic 2.5-meter deployable reflectors
generating the 32 spot beams.
● The estimated cost of the launch is between $60-70 million, with NSIL paying approximately
₹500 crore for the launch.

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 Important Monthly Current Affairs Capsule – November 2024

● This mission marked the 19th flight of SpaceX's Falcon-9 first-stage booster, which had
previously launched several missions, including SES-22, HAKUTO-R MISSION 1, and multiple
Starlink missions.
About ISRO :
● Established: 15 August 1969
● Headquarters: Bangalore, Karnataka, India
● Chairman: S. Somanath

Google introduces Air View+ to offer detailed hyperlocal air quality data to users
● Google launched Air View+, an ecosystem-based solution aimed at providing hyperlocal air
quality information to users and government authorities in collaboration with local climate tech
firms.
● Purpose: The initiative is designed to help government agencies and urban planners with real-
time air quality data, particularly in cities with insufficient infrastructure for monitoring air quality.
● Google collaborated with climate tech firms Aurassure and Respirer Living Sciences to set up an
air quality sensor network in cities lacking the infrastructure to monitor air quality.
About Google :
● Founded : September 4, 1998
● Headquarters : California, United States
● CEO : Sundar Pichai

Indian Institute of Spices Research Kozhikode Receives NABL Accreditation for Its Laboratories
● ICAR-Indian Institute of Spices Research (IISR), Kozhikode,Kerala has been accredited by the
National Accreditation Board for Testing and Calibration Laboratories (NABL) for its spices
quality and organic manure testing laboratories.
● NABL certification ensures global recognition, enhancing the reliability and accuracy of testing
processes.
● This accreditation reflects the institute's commitment to meeting stringent standards.
About IISR :
● Established : 1975
● Location : Kozhikode, Kerala, India
● Director : Dr. R. Dinesh

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 Important Monthly Current Affairs Capsule – November 2024

About NABL :
● Formation : 1988
● Headquarters : Gurgaon, Haryana
● CEO : Mr. N. Venkateswaran

Indian Institute of Technology Bombay Unveils AroTrack: A Cost-Effective and Portable Device for
Detecting Harmful Pollutants in Water
● Indian Institute of Technology Bombay (IIT Bombay) have introduced AroTrack, an economical
and portable device to accurately detect harmful pollutants such as phenol or benzene in water.
● AroTrack targets aromatic xenobiotic pollutants such as phenol, benzene, and xylenols, which
are commonly found in polluted water.
● The device uses a light-emitting diode (LED)-phototransistor system to shine light through the
sample.
● The amount of light absorbed by the sample helps detect the concentration of pollutants.
● Performance in High Temperatures: AroTrack operates effectively in water temperatures up to
50°C, demonstrating its robustness in various environmental conditions.

PSLV to Launch Two Satellites as Part of Proba-3 Mission on December 4

● PSLV will launch the Proba-3 mission on December 4, 2024 to deploy two satellites developed
by the European Space Agency (ESA).
● Proba-3 is the first mission in the world where two satellites will fly in a parallel formation for long
durations.
● Purpose of the Mission:The satellite pair is designed to study the solar corona, the outer layer of
the Sun's atmosphere.
● The mission will use a coronagraph (on one satellite) and an occulter (on the other) to block light
from the Sun's bright layers, allowing detailed observation of the corona.
About European Space Agency :
● Formed : 30 May 1975
● Headquarters : Paris, France
● Director General : Josef Aschbacher

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 Important Monthly Current Affairs Capsule – November 2024

● Member states : Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France,
Germany, Greece, Hungary, Ireland, Italy, Luxembourg, The Netherlands, Norway, Poland,
Portugal, Romania, Spain, Sweden, Switzerland, and the United Kingdom.

IIFCL Seeks Infrastructure Status for Space Sector, Aims to Finance Satellite Vehicle Manufacturing
● IIFCL (India Infrastructure Finance Company Limited) has requested the government to include
the space sector in the harmonized list of infrastructure to facilitate easier financing for satellite
vehicle manufacturing.
● IIFCL has been involved with the space sector through its subsidiary, IIFCL Projects Limited
(IPL).
● IPL has helped ISRO with various activities, including transferring 13 satellites to NewSpace
India Ltd (NSIL), ISRO’s commercial arm, which involved complex legal processes.
● NSIL is responsible for promoting and commercializing space products and services and
enabling Indian industries to engage in space-related activities.

India Launches First Artificial Intelligence Data Bank to Strengthen National Security
● India’s first Artificial Intelligence (AI) Data Bank was launched by the Ministry of Science and
Technology, aimed at fostering innovation and enhancing national security.
● Objective: The AI Data Bank will provide access to diverse and high-quality datasets crucial for
developing scalable and inclusive AI solutions.
● The initiative is designed to benefit researchers, startups, and developers by offering essential
datasets for AI development.
● The AI Data Bank was launched by Science and Technology Minister Jitendra Singh at the 7th
Edition of the ASSOCHAM AI Leadership Meet 2024.
● Thematic Focus: The event's theme was “AI for India: Advancing India’s AI Development –
Innovation, Ethics, and Governance,” reflecting India’s strategy to leverage AI in various sectors.

US Justice Department Calls for Google to Sell Chrome to Resolve Search Monopoly Concerns
● The U.S. Department of Justice (DOJ) has filed a landmark case against Alphabet's Google,
arguing that the company holds an illegal monopoly in online search and advertising.

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 Important Monthly Current Affairs Capsule – November 2024

● A court-appointed five-person technical committee would monitor compliance with these

proposed remedies for up to a decade.
● The committee would have the power to investigate Google’s practices and ensure that the
company adheres to the court's rulings.
About Google :
● Founded : September 4, 1998
● Headquarters : California, United States
● CEO : Sundar Pichai

Meesho Unveils India's First Multilingual Gen AI-Powered Voice Bot for Customer Support
● Meesho has launched India’s first multilingual Gen AI-powered voice bot at scale for customer
support.
● The bot provides personalized, human-like assistance in multiple languages, catering to India’s
cultural diversity.
● The bot uses advanced technologies like Gen AI, large language models (LLM), natural language
processing (NLP), automatic speech recognition (ASR), and text-to-speech (TTS).

Hindustan Aeronautics Limited Chairman & Managing Director DK Sunil in Russia to Sign Deal for
License Manufacturing of 240 Su-30MKI Engines
● Hindustan Aeronautics Limited (HAL) Chairman & Managing Director (CMD), DK Sunil, is leading
a delegation to Russia to sign a deal for the licensed manufacturing of 240 AL-31FP Aero
Engines for the Su-30MKI fighter jets.
● The visit follows a contract signed by the Ministry of Defence (MoD) and HAL on September 9,
2024, for these engines.
● The Su-30MKI fighter jets of the Indian Air Force (IAF) are due for significant upgrades to extend
their operational life and enhance their combat capabilities.
● The Defence Acquisition Council (DAC) has approved a fund of ₹63,000 crore for these
upgrades.
About HAL :
● Headquarters : Bangalore, Karnataka
● Chairman & MD : DK Sunil

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 Important Monthly Current Affairs Capsule – November 2024

India Successfully Conducts Test of K-4 Nuclear-Capable Missile from INS Arighaat
● India successfully tested the K-4 nuclear-capable submarine-launched ballistic missile (SLBM)
from the nuclear-powered submarine INS Arighaat, marking a significant enhancement in India’s
nuclear deterrence.
● The missile was tested off the coast of Visakhapatnam in the Bay of Bengal, strengthening
India’s second-strike capability.
K-4 Missile Features:
● Range: The K-4 missile has a strike range of 3,500 km.
● Fuel: It is a solid-fuelled missile, designed to be launched from underwater platforms.
● The INS Arighaat is the second Arihant-class submarine, joining the INS Arihant, India's first
indigenously built nuclear-powered submarine, commissioned in 2018.
● In addition to the K-4 missile test, India recently flight-tested a long-range hypersonic missile,
capable of evading air defense systems.
● Hypersonic missiles can travel at speeds exceeding Mach 5 and are considered more agile and
maneuverable.

SPORTS NEWS
Ravindra Jadeja Becomes India’s Fifth-Highest Wicket-Taker in Test Cricket
• Ravindra Jadeja has reached a major milestone in his Test cricket career, becoming India’s fifth-
highest wicket-taker in the format.
• On the opening day of the third Test match against New Zealand in Mumbai, Jadeja overtook
Ishant Sharma, who previously held the fifth spot with 311 wickets from 188 innings.
• Fifth Position Secured: With this achievement, Jadeja now joins India’s elite group of top Test
bowlers.
• All-Time Top Indian Wicket-Takers: Only four Indian bowlers remain ahead of him:
o Anil Kumble
o Ravichandran Ashwin
o Kapil Dev
o Harbhajan Singh

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 Important Monthly Current Affairs Capsule – November 2024

ICC Appoints Sumathi Dharmawardena as New Anti-Corruption Chair:

• The International Cricket Council (ICC) has appointed Sri Lankan legal expert Sumathi
Dharmawardena as the new Independent Chair of its Anti-Corruption Unit (ACU), beginning
November 1, 2024.
• Dharmawardena succeeds Sir Ronnie Flanagan, who held the role for 14 years, and brings
extensive expertise from his work in sports corruption with Interpol and the United Nations Office
on Drugs and Crime (UNODC).

India Shines as Runner-Up at the Asian Arm Wrestling Cup 2024

• India showcased an impressive performance at the Asian Arm Wrestling Cup 2024, securing the
runner-up position in the overall team standings held at the Aurika Skycity Hotel in Mumbai.
• The Indian team finished second in the medal tally, trailing only behind Kazakhstan, the top-
ranking nation in the arm wrestling arena.
• Overview of the Event
• Event: Asian Arm Wrestling Cup 2024
• Location: Aurika Skycity Hotel, Mumbai, Maharashtra
• Overall Performance: India emerged as the runner-up in team standings.

AIFF Receives AFC President’s Recognition Award for Grassroots Football (Silver)
• The All India Football Federation (AIFF) was honoured with the AFC President’s Recognition
Award for Grassroots Football (Silver) at the AFC Annual Awards held in Seoul, South Korea.
• This recognition marks a significant improvement from last year’s bronze award, highlighting
AIFF’s progress in grassroots development, sustainability, and collaboration with stakeholders.

Son Heung-min Crowned Asia’s International Player of the Year for the Fourth Time
• Tottenham and South Korea forward Son Heung-min has been honoured as Asia’s International
Player of the Year for the fourth time by the Asian Football Confederation (AFC) during its annual
awards ceremony held in Seoul.
• Previous Awards: Son previously won this prestigious award in 2015, 2017, and 2019, marking
him as a standout player in Asian football.

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 Important Monthly Current Affairs Capsule – November 2024

• Current Recognition: He received the trophy from compatriot Kim Min-Jae, who plays for Bayern
Munich, underscoring Son's continued excellence in the sport.

Matthew Wade Retires from International Cricket After 13-Year Career

• Australian wicketkeeper-batter Matthew Wade announced his retirement from international
cricket, concluding a notable 13-year career that saw him participate in 225 international matches
for Australia.
• Key Achievements: Wade played a pivotal role in Australia’s T20 World Cup victory in 2021,
serving as vice-captain and delivering a memorable performance in the semi-final against
Pakistan, scoring 41 runs off just 17 balls.

Rodri and Aitana Bonmatí Win 2024 Ballon d'Or Awards

• Spanish midfieldersRodri and Aitana Bonmatí were honoured as the world's best soccer players,
receiving the men’s and women’s Ballon d’Or awards, respectively, at a ceremony in Paris.
• Awarded the Ballon d’Or for the first time after a standout season with Manchester City, helping
them win the Premier League and being instrumental in Spain’s European Championship victory.
• Succeeded Lionel Messi, who previously held the title eight times.
• Finished ahead of Vinícius Júnior from Real Madrid, whose club boycotted the ceremony in
protest.

Deepti Sharma Climbs to Career-High Second in ICC Women’s ODI Bowler Rankings
• Indian off-spinner Deepti Sharma has achieved a career-high second place in the latest ICC
Women’s ODI rankings for bowlers, moving up two spots due to her outstanding recent
performances.
• Deepti's rise follows her strong showing in the ICC Women’s T20 World Cup in the UAE and her
solid contributions in the ongoing white-ball series against New Zealand.
• She has taken three wickets in two matches against New Zealand, maintaining an impressive
economy rate of 3.42.

Malvika Bansod Reaches Final at Hylo Open Super 300; Ayush Shetty Falls Short
• Rising Indian shuttler Malvika Bansod reached the final of the women's singles at the Hylo Open
Super 300, defeating eighth seed Julie Dawall Jakobsen from Denmark in straight sets.

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 Important Monthly Current Affairs Capsule – November 2024

• Match Stats: Malvika, seeded sixth, won with scores of 23-21, 21-18 in a match lasting 44
minutes.

Indian Boxers Excel at U-19 World Championships in Colorado with 17 Medals

• Indian boxers achieved a remarkable 17 medals at the inaugural U-19 World Championships
held in Colorado, USA, showcasing their talent on an international platform.
• The female boxers particularly shone, with 10 athletes earning medals at this age group
tournament.
• Parthavi Grewal dominated the women’s 65kg final, winning 5-0 against the Netherlands’ Aaliyah
Hoppema.

Myneni-Ramkumar Duo Clinches Doubles Title at ATP Challenger in Seoul

• The Indian pair of Saketh Myneni and Ramkumar Ramanathan emerged victorious at the ATP
100 Challenger event held in Seoul, South Korea, claiming the doubles title.
• This win marks the second title of the year for Myneni and Ramkumar and their third overall as a
partnership.
• They previously won the Bengaluru Open in 2022 and the Chennai Open earlier this season.

Anahat Singh Clinches Sixth PSA Challenger Title at Costa North Coast Open 2024
• Anahat Singh, the 16-year-old squash prodigy, secured her sixth PSA Challenger title of the year
by winning the women’s singles crown at the Costa North Coast Open 2024 in Coffs Harbour,
Australia.
• Seeded third, Anahat showcased her exceptional skills by defeating Japan’s sixth seed Akari
Midorikawa in straight games with scores of 3-0 (11-6, 11-6, 11-7).

Max Verstappen's Stunning Brazilian Grand Prix Victory Brings Fourth Title Within Reach
• Max Verstappen is on the verge of securing his fourth Formula One title after a spectacular
comeback to win the Brazilian Grand Prix from 17th on the grid.

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 Important Monthly Current Affairs Capsule – November 2024

• The victory significantly impacts Lando Norris, who started in pole position and was 44 points
behind Verstappen but finished sixth, causing the title gap to widen to 62 points with only three
races left in the season.
• Upcoming Opportunities
• Verstappen could potentially clinch the championship in the next race, scheduled on the Las
Vegas Strip on November 23, depending on how the results unfold.

Mandeep Jangra Clinches WBF Super Featherweight World Title, Elevates Indian Boxing on the Global
Stage
• Indian professional boxer Mandeep Jangra won the World Boxing Federation (WBF) Super
Featherweight World Title.
• Defeated Britain’s Conor McIntosh in an intense 10-round match held in the Cayman Islands.

India Officially Bids to Host 2036 Olympics, Eyes Transformative Impact on Sports Sector
• The Indian Olympic Association (IOA) formally submitted a Letter of Intent on October 1, 2023 to
host the 2036 Olympic and Paralympic Games.
• This marks a major step in realizing Prime Minister Narendra Modi’s vision of bringing the
Olympics to India for the first time.
• Prime Minister Narendra Modi reiterated India’s dedication to hosting the event, stating at the
141st IOC session in Mumbai, “We will leave no stone unturned in organizing the Olympics in
India in 2036.”
• The bid is aligned with Modi’s goal to elevate India’s global sporting profile and advance the
nation’s sports infrastructure.

Harmanpreet Kaur and Smriti Mandhana Shine in Latest ICC Women’s ODI Rankings
• India’s captain Harmanpreet Kaur moved up to joint ninth in the latest ICC Women’s ODI
rankings.
• Her unbeaten 59 off 63 balls in India’s six-wicket win against New Zealand in the third ODI
helped her re-enter the top 10 after slipping in earlier matches.
• Opener Smriti Mandhana retained her fourth position with an impressive 100-run knock, earning
the player of the match award.

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 Important Monthly Current Affairs Capsule – November 2024

• Mandhana gained 23 rating points, reaching 728 points, just five points behind Sri Lanka’s
Chamari Athapaththu.

India Wins 14 Medals at Asia Pickleball Games in Taiwan

• India’s players showcased outstanding skill at the Asia Pickleball Games held recently in Taiwan,
bringing home a total of 14 medals, including five golds, four silvers, and five bronzes.
• Gold Medalists:
o Nitten Kirttane: Gold in 50+ open men’s singles and 50+ open men’s doubles (with
Sandeep Tawde).
o Vanshik Kapadia & Tejas Mahajan: Gold in 19+ open men’s doubles.
o Kapadia & Vrushali Thakare: Gold in 19+ open mixed doubles.
o Vishal Jadhav & Isha Lakhani: Gold in 35+ open mixed doubles.

ICC Test Rankings: Rishabh Pant, Daryl Mitchell, and Will Young Make Significant Gains
• India wicketkeeper Rishabh Pant and New Zealand all-rounder Daryl Mitchell are back in the top
10 of the ICC Men’s Test batting rankings after fine performances in the third match of their ICC
World Test Championship series played in Mumbai.
• Scored 60 and 64 in the two innings, moving him up five spots to sixth place in the ICC Test
batting rankings.
• Now just one position away from his career-best fifth position, which he achieved in July 2022.

Arjun Erigaisi Jumps to World No. 2 in Chess Rankings

• Arjun Erigaisi, the 21-year-old Indian Grandmaster from Warangal, Andhra Pradesh, has surged
to world No. 2 in the live chess rankings, following an impressive win over Russian Grandmaster
Alexey Sarana at the ongoing Chennai Grand Masters.
• Erigaisi now has an Elo rating of 2805.8, making him only the second Indian player to cross the
2800 Elo barrier, a feat previously achieved by Viswanathan Anand.

Pankaj Advani Wins Record 28th World Billiards Title, Triumphs in Thrilling Final
• Ace Indian cueist Pankaj Advani claimed his 28th world title and seventh consecutive IBSF World
Billiards Championship crown by defeating England’s Robert Hall 4-2 in Doha.
• A Hard-Fought Battle:

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 Important Monthly Current Affairs Capsule – November 2024

o Hall took an early lead in the opening frame, but Advani quickly responded with a 147
break in the second frame.
o The third frame was a close contest, showcasing both players' strategic brilliance.

Tamil Nadu to Likely Host 2025 FIH Hockey Men’s Junior World Cup
• Tamil Nadu is expected to host the 2025 FIH Hockey Men’s Junior World Cup in November-
December 2025.
• According to a high-ranking Government source, Tamil Nadu has submitted a letter of intent to
the Asian Hockey Federation (AHF), which has approved the proposal.
• The tournament will feature 24 teams playing a total of 72 matches, requiring two hosting venues
to accommodate all games.

V Pranav Triumphs in Chennai Grandmasters Tournament's Challenger Section

• V Pranav achieved a notable victory in the Chennai Grandmasters Tournament’s Challenger
section, adding to Tamil Nadu's chess accolades.
• Pranav, rated Elo 2602, displayed consistent and strategic gameplay.
• He started strong, winning his first four games and drawing the last three, totaling 5.5 points in
seven rounds.
• His final match, a draw against Leon Mendonca, secured his title, as Mendonca needed a win to
claim the top spot.

Coco Gauff Advances to WTA Finals Riyadh Final After Defeating World No. 1 Aryna Sabalenka
• U.S. tennis star Coco Gauff defeated Aryna Sabalenka, the world’s top-ranked player, with a
scoreline of 7-6, 6-3 , advancing to the finals of the 2024 WTA Finals in Riyadh.
• The match saw intense competition, with Gauff narrowly missing a break opportunity early on at
15-40 on Sabalenka’s serve in the sixth game.

Indian Women’s Hockey Team Set to Defend Title at the Asian Champions Trophy 2024 in Bihar
• The Indian women’s hockey team, led by newly appointed captain Salima Tete and vice-captain
Navneet Kaur, is ready to defend its title at the Bihar Women’s Asian Champions Trophy Rajgir
2024.

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 Important Monthly Current Affairs Capsule – November 2024

• This prestigious tournament, the first of its kind in Bihar, will take place from November 11 to 20
at the Rajgir Hockey Stadium.

ICC Players of the Month for October 2024: Amelia Kerr and Noman Ali
• The International Cricket Council (ICC) awarded New Zealand’s Amelia Kerr and Pakistan’s
Noman Ali as the ICC Players of the Month for October 2024.
• Both athletes were vital in their teams' recent successes, showcasing exceptional skill and
determination.
• Amelia Kerr: Leading New Zealand to World Cup Victory
• Impact on the Women’s T20 World Cup: Kerr’s all-round brilliance propelled New Zealand to
their first-ever T20 World Cup victory in the UAE. She amassed 160 runs and an impressive 19
wickets throughout the tournament.

Prajnesh Gunneswaran Retires: A Look at the Career of India’s Tennis Star

● Indian tennis star Prajnesh Gunneswaran, best known for his bronze medal victory at the 2018
Jakarta Asian Games, has announced his retirement from professional tennis.
● The 35-year-old Chennai-born athlete shared a heartfelt message reflecting on his remarkable
journey, spanning over three decades.

Tim Southee Announces Retirement from Test Cricket:

● Tim Southee, New Zealand’s legendary fast bowler and all-time leading wicket-taker, has
announced his decision to retire from Test cricket following the conclusion of the ongoing ICC World
Test Championship (WTC) campaign.
● The 35-year-old bowler, who has been an integral part of New Zealand cricket for nearly two
decades, will bow out after the home series against England later this year.

GM Aravindh Chithambaram and GM V Pranav Shine at Chennai Grand Masters 2024

● The Chennai Grand Masters 2024 concluded on a high note, with GM Aravindh Chithambaram
clinching the Masters title after a dramatic late surge, and GM V Pranav taking the Challengers title
with an unbeaten streak.
● The tournament, held at the Anna Centenary Library in Chennai, showcased top-tier chess action
and emerging talent.

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 Important Monthly Current Affairs Capsule – November 2024

Magnus Carlsen Clinches Tata Steel Chess India Blitz Title, Arjun Erigaisi's Campaign Collapses
● Magnus Carlsen triumphed in the sixth edition of Tata Steel Chess India Blitz after a dramatic
turn of events.
● Arjun Erigaisi, who had been leading the tournament with three rounds left, faltered dramatically,
ending off the podium.
● Carlsen finished 1.5 points ahead of second-placed Wesley So, clinching his second title in five
days and his 10th major title of the year.
● Arjun Erigaisi's over-ambitious strategy led to losses in his final three games, including a critical
defeat to Carlsen in the penultimate round.
● Wesley So capitalized on Arjun's collapse, securing second place with an outstanding 8.0/9 score
on the final day.

V. Jyothi Surekha Wins Gold at World Indoor Archery Series in Luxembourg

● V. Jyothi Surekha, the 28-year-old ace archer from Vijayawada, clinched the gold in the
compound category of the World Indoor Archery Series in Luxembourg.
● Surekha defeated Paasmeeri Marita of Belgium with a score of 147-145 in the final.
● In the semifinal, she triumphed over Roner Elisa of Italy after a shoot-out, with both archers
scoring 148, but Surekha won the shoot-out.
● This victory marks Surekha's second gold in the Indoor Series.
● She had previously won a bronze at the JVD Open Indoor Archery Championship.

Jorge Martin Clinches First MotoGP World Championship

● Jorge Martin of Prima Pramac Ducati has won his first MotoGP World Championship in the 2024
season.
● Martin only needed a 9th place finish or higher in the Solidarity Grand Prix of Barcelona to secure
the title, with a 19-point lead over Pecco Bagnaia.
● Throughout the 24-lap race, Martin maintained a measured pace, while Pecco Bagnaia led the
race, with Marc Marquez pursuing him on the Gresini Ducati.
● Aleix Espargaro, riding for Factory Aprilia, helped Martin by keeping pressure off him, staying
ahead of Alex Marquez and acting as a defensive buffer.

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 Important Monthly Current Affairs Capsule – November 2024

● Jorge Martin crossed the finish line, realizing his long-held dream and securing the
championship, finishing with 10 points more than Pecco.
● Marc Marquez completed the season in third place, a notable achievement riding a year-old
Ducati for a satellite team.

Mithali Raj Appointed Mentor for Andhra Cricket Association’s Women’s Cricket Operations
● Mithali Raj, the former Indian women’s cricket captain and a trailblazer in the sport, has been named
Mentor of Women’s Cricket Operations by the Andhra Cricket Association (ACA).
● Known as one of the greatest female cricketers, Mithali’s appointment is seen as a strategic move to
elevate women’s cricket in Andhra Pradesh.

India Defends Women's Asian Champions Trophy Title with a 1-0 Victory Over China
● The Indian women’s hockey team showcased resilience and brilliance to claim the Asian Champions
Trophy 2024, defeating China 1-0 in a thrilling final at the Rajgir Sports Complex, Bihar.
● This victory marked India’s successful defense of their title, solidifying their dominance in Asian
hockey.
● Deepika, the tournament’s top scorer with 11 goals, netted the decisive goal. Her remarkable
consistency earned her the Player of the Tournament title.

MRF Tyres Clinches Fourth Consecutive Italian Gravel Championship Title

● MRF Tyres celebrated its fourth straight Italian Gravel Championship title at the 17th Rally delle
Marche in Cingoli.
● After three consecutive wins by Paolo Andreucci from 2021 to 2023, Alberto Battistolli and Simone
Scattolin secured their maiden Italian championship crown for Team MRF Tyres.
Final Standings – Italian Gravel Championship 2024
1. Alberto Battistolli – 71.5 points
2. Tommaso Ciuffi – 51 points
3. Umberto Scandola – 50 points
4. Enrico Oldrati – 46 points
5. Jaakko Lavio – 38 points

Bihar to Host Men’s Hockey Asia Cup 2025 at Rajgir Sports Complex

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 Important Monthly Current Affairs Capsule – November 2024

● Buoyed by the success of hosting the Women’s Asian Champions Trophy, Bihar is gearing up for its
next major sporting milestone: the Men’s Hockey Asia Cup 2025.
● The event, scheduled for August 27–September 7, will serve as a qualifier for the 2026 World Cup,
making it a highly prestigious and competitive tournament.

Rafael Nadal Bids Emotional Farewell to Tennis at Davis Cup

● Rafael Nadal’s illustrious tennis career came to an emotional close as Spain fell to the Netherlands
in the Davis Cup quarterfinals.
● Playing in front of an adoring home crowd at the Palacio de Deportes Jose Maria Martin Carpena,
Nadal’s match against Botic van de Zandschulp became his swan song, marking the end of a
remarkable two-decade journey.
● Nadal, 38, was defeated 6-4, 6-4 by the Netherlands’ Botic van de Zandschulp, ending his Davis
Cup singles career with a stellar 29-2 record.

Double Olympic champion Alistair Brownlee Announces Retirement

● Alistair Brownlee, the double Olympic champion who played a pivotal role in the rise of British
triathlon, has announced his retirement from the sport at the age of 36.
● Known for his gold medal victories in London 2012 and Rio 2016, Brownlee has left an enduring
legacy in the triathlon world, inspiring athletes including current Olympic champion Alex Yee.

Italy Clinches Fifth Billie Jean King Cup Title with Dominant Win Over Slovakia
● Italy emerged victorious in the Billie Jean King Cup for the fifth time, as Jasmine Paolini delivered a
stellar performance to seal a 2-0 win over Slovakia in the final.
● Paolini triumphed 6-2, 6-1 against Rebecca Sramkova in the second singles rubber, following a 6-2,
6-4 win from Lucia Bronzetti against Viktoria Hruncakova.

Sony Pictures Networks India Acquires ACC Media Rights for $170 Million (2024–2031)
● Sony Pictures Networks India (SPNI) has secured the media rights for all Asian Cricket Council
(ACC) tournaments from 2024 to 2031 at a base price of $170 million, representing a 70% increase
over the previous cycle.

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 Important Monthly Current Affairs Capsule – November 2024

● This marks a milestone for SPNI, which successfully acquired the rights without competitive
bidding—a rarity in cricket’s fiercely contested media landscape.
● This is SPNI’s first cricket property acquisition in a rights auction.

Max Verstappen Clinches Fourth Consecutive Formula 1 Title in Las Vegas

● Max Verstappen secured his fourth consecutive Formula 1 championship by finishing fifth in the Las
Vegas Grand Prix .
● This victory cements him as only the sixth driver in F1 history to achieve at least four championships,
a testament to his dominance in the sport.

Vaibhav Suryavanshi: The 13-Year-Old Prodigy Making IPL History

● Vaibhav Suryavanshi, a 13-year-old cricketer from Bihar, has become the youngest player ever
to be signed in an IPL auction.
● IPL 2025 Mega Auction in Jeddah, the Rajasthan Royals acquired him for an impressive ₹1.10
crore, edging out the Delhi Capitals in a bidding war.

Delhi CM Atishi Inaugurates India’s First Underground Shooting Range for NCC Cadets
● Delhi Chief Minister Atishi inaugurated India’s first underground shooting range for National
Cadet Corps (NCC) cadets at Rohini’s NCC Bhavan.
● The facility aims to provide world-class training infrastructure to nurture the country’s young
shooting talent and ensure financial constraints do not hinder potential Olympic medallists.

Bajrang Punia Suspended for Four Years by NADA Over Doping Test Refusal
● Indian wrestler and Tokyo Olympic bronze medalist Bajrang Punia has been handed a four-year
suspension by the National Anti-Doping Agency (NADA) for refusing to provide a doping sample
during the national team selection trials on March 10, 2024.
● This marks a significant moment in Indian sports, given Punia's stature as one of the country’s most
celebrated wrestlers.

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 Important Monthly Current Affairs Capsule – November 2024

Max Verstappen Secures Fourth Consecutive Formula 1 Drivers' Championship

● Dutch Formula 1 driverMax Verstappen has clinched his fourth consecutive Drivers’ Championship
title, despite finishing fifth in the Las Vegas Grand Prix.
● His commanding performance throughout the season made him the sixth driver in history to win four
or more titles, solidifying his place among Formula 1's legends.

Eight-Year-Old Divith Reddy Wins Under-8 World Cadets Chess Championship

● In a remarkable achievement for Indian chess, Divith Reddy, an eight-year-old prodigy
from Hyderabad, clinched the gold medal at the Under-8 World Cadets Chess Championship.
● With a stellar score of 9/11 points, Divith triumphed in a fiercely competitive field, edging out fellow
Indian Sattwik Swain on tie-break scores.
Tournament Results
● Champion: Divith Reddy (India, Telangana) – 9/11 points, secured gold via tie-break.
● Runner-up: Sattwik Swain (India) – 9/11 points, silver medal.
● Third Place: Ziming Guo (China) – 9/11 points, bronze medal.

OBITUARIES
Justice KS Puttaswamy, key petitioner in landmark right to privacy case, passed away
• Former Karnataka High Court judge Justice K S Puttaswamy, who played a pivotal role in
declaration of right to privacy as a fundamental right from the Supreme Court in 2017, passed
away at his Bengaluru residence at the age of 98.
• Born on February 8, 1926, in Mysore, Karnataka.

US music legend Quincy Jones, who transformed the landscape of pop music, Passed away
• Quincy Jones, the man known simply as "Q" who worked with musicians ranging from Count
Basie to Frank Sinatra and reshaped pop music with his collaborations with Michael Jackson,
passed away at the age of 91.
• Quincy Delight Jones Jr. was born on March 14, 1933, in Chicago.
• He developed a passion for music early on and became proficient with the trumpet by age 13.

Renowned Padma Bhushan awardee and folk singer Sharda Sinha passed away

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 Important Monthly Current Affairs Capsule – November 2024

• Popular folk singer Sharda Sinha, who was undergoing treatment at All India Institute of Medical
Sciences (AIIMS)-Delhi, passed away at the age of 72.
• Born on November 1, 1952 in Bihar’s Supaul district.
• She trained in classical music under Pandit Raghu Jha, Pandit Sitaram Hari Dandekar, and
Panna Devi, contemporaries of Malika-e-Ghazal Begum Akhtar.

Chairman of Prime Minister Narendra Modi’s Economic Advisory Council, Bibek Debroy Passed away
• Economist and Sanskrit scholar Bibek Debroy, Chairman of the Prime Minister’s Economic
Advisory Council, passed away at the age of 69 in AIIMS, Delhi,
• Debroy was appointed Chairman of the Prime Minister's Economic Advisory Council (PM-EAC)
on September 25, 2017.
• He was a full-time Member of NITI Aayog from 2015 to June 2019.
• As PM-EAC Chairman, Debroy effectively managed the council and attracted talent from
independent think tanks and the private sector.
• The PM-EAC met with the Prime Minister at least once a year to discuss crucial economic
issues.

Bela Karolyi, gymnastics coach who mentored Nadia, Mary Lou, and courted controversy, passes away
● Bela Karolyi, the charismatic, polarising gymnastics coach who turned young women into
champions and the United States into an international power, has passed away at the age of 82.

Actor Uma Dasgupta, key cast member of ‘Pather Panchali,’ passed away
● Uma Dasgupta, who immortalised the role of 'Durga' in Satyajit Ray's iconic film Pather Panchali
passed away in Kolkata at the age of 84.
● Her last known public appearance was at a function related to Pather Panchali, but she had
remained largely out of the public eye since then.

Renowned Sarod Virtuoso Aashish Khan Passed Away

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 Important Monthly Current Affairs Capsule – November 2024

● Aashish Khan, the legendary sarod maestro who popularised the instrument world over and
collaborated with international musicians like George Harrison, Eric Clapton, and Ringo Starr,
has passed away at the age of 84.
● Born in 1939 in Maihar, Madhya Pradesh,India.
● Awards and Recognition:Nominated for a Grammy Award in 2006 in the 'Best Traditional World
Music Album' category for Golden Strings of the Sarode.
● Recipient of the Sangeet Natak Akademi Award in 2004, India's highest honor for performing
arts.

Essar Group Founder Shashikant Ruia Passed away

● Shashikant Ruia, patriarch of the billionaire Ruia family and co-founder of the Essar Group of
companies, passed away at the age of 81.
● The Essar Group is currently led by his brother Ravi and his sons, Prashant and Anshuman.
About Essar Group :
● Founded : 1969
● Headquarters : Mumbai, Maharashtra, India
● It is an Indian multinationalconglomerate company, founded by Shashi Ruia and Ravi Ruia

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 Important Monthly Current Affairs Capsule – December 2024

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 Important Monthly Current Affairs Capsule – December 2024

S. No Topics Page No

1. IMPORTANT DAYS 03

2. NATIONAL NEWS 09

3. INTERNATIONAL NEWS 36

4. STATE NEWS 44

5. BUSINESS NEWS 57

6. BANKING AND ECONOMY 68

7. AWARDS AND HONOURS 130

8. APPOINTMENTS & RESIGNATIONS 139

9. MOUS AND AGREEMENT 155

10. RANKING AND INDEXES 163

11. ACQUISITIONS & MERGERS 167

12. DEFENCE NEWS 173

13. SCIENCE & TECHNOLOGY 182

14. SPORTS NEWS 193

15. OBITUARIES 202

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 Important Monthly Current Affairs Capsule – December 2024

IMPORTANT DAYS
World AIDS Day: 1st December
• World AIDS Day 2024 is observed on the 1st of December 2024.
• The theme for World AIDS Day 2024, 'Take the Rights Path: My health, my right!'
• World AIDS Day was first initiated in 1998 and observed on December 1.
• World AIDS Day was the first day celebrated for health awareness.
• The World AIDS Campaign was registered as a nonprofit organization in 2004 in the
Netherlands.

National Pollution Control Day: 2nd December

• National Pollution Control Day 2024 is observed on the 2nd of December 2024.
• National Pollution Control Day is observed to create awareness about pollution which is causing
harm to our environment and to living beings.
• It is nationally observed for the remembrance of an Industrial accident that took place in Bhopal
which took thousands of lives in 1984.

International Day for the Abolition of Slavery: 2nd December

• International Day for the Abolition of Slavery 2024 is observed on the 2nd of December 2024.
• The International Labor Organization puts the number of victims of modern slavery at 40 million
worldwide.
• ILO has adopted a legally binding Protocol designed to strengthen global efforts to eliminate
forced labour, which entered into force in November 2016.
• U.N. Working Group on Slavery submitted a report that tendered the date for consideration as
the World Day for the Abolition of Slavery in 1985.

World Computer Literacy Day: 2nd December

• World Computer Literacy Day 2024 is observed on the 2nd of December.
• World Computer Literacy Day was launched in 2001 by an Indian company called N.I.I.T. to
celebrate its 20th anniversary.
• The Company was founded in 1981 by Rajendra Singh Pawar and Vijay K. Thadani. N.I.I.T
stands for National Institute of Information Technology, is a skills and talent development
company.

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 Important Monthly Current Affairs Capsule – December 2024

International Day of Persons with Disabilities: 3rd December

• International Day of Persons with Disabilities 2024 is observed on the 3rd of December 2024.
• In 1976, the UN General Assembly made a decision that from 1981 International Day of Persons
with Disabilities will be celebrated globally.
• The first Paralympic games were hosted in 1960. In 1992 The International Day of People with
Disability was proclaimed by the United Nations.
Indian Navy Day: 4th December
• Indian Navy Day 2024 is observed on the 4th of December 2024.
• The Indian Navy Day 2024 theme set for this year is "Strength and Power through Innovation and
Indigenisation."
• The Indian Navy was established by the East India Company in 1612.
World Wildlife Conservation Day is on December 4, 2024
• World Wildlife Conservation Day is observed annually on December 4 to spread awareness
about preserving Earth’s endangered Flora and fauna.
• Initiated on November 8, 2012, by Hillary Clinton, then US Secretary of State, during "The
Wildlife Trafficking and Conservation" event.
Theme for 2024
• "Connecting People and Planet: Exploring Digital Innovation in Wildlife Conservation"

World Soil Day, celebrated annually on December 5

• Observed on: December 5 annually.
• Objective: To highlight the vital role of soil in sustaining life and address the challenges of soil
degradation.
• History:
o Initiated by the International Union of Soil Sciences (IUSS) in 2002.
o Officially recognized by the United Nations in 2013.
o The date honors King Bhumibol Adulyadej of Thailand, a proponent of sustainable soil
management, coinciding with his birthday.
Theme for 2024
• "Caring for Soils: Measure, Monitor, Manage"
Every year on December 4th, Indian Navy Day is celebrated
• Indian Navy Day is celebrated every year on December 4th. In 2024, it will be observed on
Wednesday, December 4.

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 Important Monthly Current Affairs Capsule – December 2024

• The theme of Indian Navy Day 2024 is “Strength and Power through Innovation and
Indigenisation” with the goal to highlight the Indian Navy's commitment and demonstrations
towards self-reliance and technological advancements.
• The date commemorates the bold naval operations carried out by the Indian Navy during the
1971 Indo-Pakistan war, especially the attack on Karachi, which was a significant and strategic
military action.
December 4 Observed As International Day Of Banks
• International Day of Banks is observed every year on December 4 to highlight the essential role
that banks and financial institutions play in the sustainable development of countries and the
world as a whole.
• The theme for 2024 is "Empowering Sustainable Development Through Finance."
• The International Day of Banks was officially recognized through a UN General Assembly
resolution (74/245) passed on December 19, 2019.

December 4th is International Cheetah Day

• International Cheetah Day is observed every year on December 4 to raise awareness about the
plight of cheetahs, the fastest land animals on Earth.
• International Cheetah Day was established by the Cheetah Conservation Fund (CCF), a leading
organization dedicated to the preservation of cheetahs.
• The date, December 4, was chosen to honor the memory of a cheetah cub named Khayam,
raised by Dr. Laurie Marker, the founder of CCF.
Armed Forces Flag Day: 7th December
• Armed Forces Flag Day 2024 is observed on the 7th of December 2024.
• The idea of Armed Forces Flag Day observation every year was first decided in the year 1949 by
the then Defence Minister.

International Civil Aviation Day: 7th December

• International Civil Aviation Day 2024 is observed on the 7th of December 2024.
• The International Civil Aviation Organization (ICAO), a specialist organization within the United
Nations, established December 7 as the day to celebrate the impact that civil aviation has had on
the world.

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 Important Monthly Current Affairs Capsule – December 2024

• The first International Civil Aviation Day was held in 1994 as part of ICAO’s 50th anniversary and
in 1996 the United Nations General Assembly officially recognised 7 December as International
Civil Aviation Day.
International Anti Corruption Day: 9th December
• International Anti-Corruption Day 2024 is observed on the 9th of December 2024.
• Corruption has existed from time immemorial. Some of the earliest records of anti-corruptions
texts can be found in the Code of Hammurabi of Babylonia, the Great Edict of Horemheb in
Egypt, and Arthashastra in India.
Human Rights Day: 10th December
• Human Rights Day 2024 is observed on the 10th of December 2024.
• The theme for Human Rights Day 2024 is 'Equality for All: Reducing Inequality and Advancing
Human Rights.'
• Human Rights Day's first observation was started in 1948 when the United Nations General
Assembly adopted the Universal Declaration of Human Rights.
• It was issued by the United Nations Postal Administration in 1952, which received over 200,000
advanced orders.

Nobel Prize Day: 10th December

• Nobel Prize Day 2024 is observed on the 10th of December 2024.
• Alfred Nobel's father was an engineer himself and Alfred Nobel expressed early interest in
engineering, and explosives in particular.
• Nobel became interested in stabilizing the unpredictable explosive nitroglycerin.
• Alfred Nobel died on 10 December 1896, in Sanremo, Italy, at his very last residence, Villa
Nobel, overlooking the Mediterranean Sea.
UNICEF Foundation Day: 11th December
• UNICEF Foundation Day 2024 is observed on the 11th of December 2024.
• UNICEF was created by the U.N. Relief Rehabilitation Administration in 1946 to provide relief
funds for children and mothers affected by World War II with immediate aid.

International Mountain Day: 11th December

• International Mountain Day 2024 is observed on the 11th of December 2024.
• The United Nations General Assembly declared the International Year of Mountains in 2002.

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 Important Monthly Current Affairs Capsule – December 2024

• The U.N. establishes December 11 as International Mountain Day each year for the protection
and sustainability of mountains.
Universal Health Coverage Day: 12th December
• Universal Health Coverage Day 2024 is observed on the 12th of December 2024.
• This year's theme, “Health: It's on the government”, underscores the role governments play in
ensuring that no one is forced to choose between health care and necessities such as food
• The first healthcare system was established by a German named Chancellor Otto von Bismarck
in 1883.
International Day of Neutrality: December 12
• The International Day of Neutrality, celebrated annually on December 12, is dedicated to
promoting global peace, sovereignty, and the resolution of conflicts through diplomatic and
impartial means.
• THEME: “Promoting neutrality as an instrument of preventive diplomacy.”
• The day was first observed on December 12, 2017, aligning neutrality with the principles of the
2030 Agenda for Sustainable Development.
National Energy Conservation Day: 14th December
• National Energy Conservation Day 2024 is observed on the 14th of December 2024.
• National Energy Conservation Day was first observed on December 14th, 1991 by the Bureau of
Energy Efficiency BEE, under the Union Ministry of Power which falls under the government of
India.
• The committee also executed ‘The Energy Conservation Act’ in 2001.
Vijay Diwas: 16th December
● Vijay Diwas 2024 is observed on the 16th of December 2024.
● Vijay Diwas is celebrated for the remembrance of the victory of the Indian Armed Forces in
‘Operation: Vijay’ against the infiltrating Pakistani troops.
● The Independent Flag of Bangladesh was first hoisted on March 23.
International Migrants Day: 18th December
● International Migrants Day 2024 is observed on the 18th of December 2024.
● Although the day was established in 2000, it has been observed since 1997 that several Asian
migrant organizations designated December 18 as the day to advocate for the respect, rights, and
protection of migrants.
● On account of the ever-increasing number of migrants around the world, on December 4, 2000, the
United Nations General Assembly declared December 18 as the day for International Migrants.

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 Important Monthly Current Affairs Capsule – December 2024

Minorities Rights Day in India: 18th December

● Minorities Rights Day 2024 is observed on the 18th of December 2024.
● Minorities Rights Day was first observed on December 18th, 1992 by the United Nations.
● The NCM was established by the Union Government under the National Commission for Minorities
Act, in 1992.
Pensioners Day: A Tribute to D.S. Nakara and the Struggle for Pension Rights
● Pensioners Day is observed annually on 17th December in India to honor the legacy of D.S. Nakara,
a pioneering figure who fought for the rights and dignity of pensioners.
● This day commemorates the landmark Supreme Court judgment of 1982, which secured equality
and justice for pensioners and retired officials.
International Human Solidarity Day: 20th December
● International Human Solidarity Day is observed on the 20th of December 2024.
● On December 22, 2005, the UN General Assembly recognized solidarity as one of the fundamental
and enduring values of the twenty-first century by passing Revolution 60/209.
● The idea of solidarity was propagated through the creation of the World Solidarity Fund to end
poverty and the declaration of International Human Solidarity Day.
National Mathematics Day: 22nd December
● National Mathematics Day 2024 is observed on the 22nd of December 2024.
● The theme for National Mathematics Day 2024 is "Mathematics: Bridge to innovation".
● The renowned mathematician Srinivasa Ramanujan, whose works had a widespread impact both in
India and around the world, is the driving force behind the establishment of Mathematics Day in that
country.
● Ramanujan was born in 1887 to an Iyengar Brahmin family in Erode, Tamil Nadu.
Kisan Diwas: 23rd December
● Kisan Diwas 2024 is observed on the 23rd of December 2024.
● Kisan Diwas 2024 is celebrated for the birth anniversary of Chaudhry Charan Singh, the fifth Prime
Minister of India.
● The Indian government decided to designate Singh's birthday as the day to commemorate Kisan
Diwas in 2001 in recognition of his outstanding efforts and transition from farmer to head of state.
National Consumer Rights Day: 24th December
● National Consumer Rights Day 2024 is observed on the 24th of December 2024.
● When India's Consumer Protection Act of 1986 was passed, consumer rights were given serious
consideration.

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 Important Monthly Current Affairs Capsule – December 2024

● The purpose of this legislation was to protect consumers against unfair commerce, the sale of
subpar goods, fraud, and inadequate service.
● The Right to Information Act, which made India's governance procedures open to the public and
had significant ramifications for consumer rights, is a supplement to the Consumer Protection
Acts of 1986 and 2019.
Good Governance Day: 25th December
● Good Governance Day 2024 is observed on the 25th of December 2024.
● Good Governance Day 2024 is observed for the birth anniversary of Former prime minister Atal
Bihari Vajpayee.
● Atal Bihari Vajpayee, a former prime minister, and Pandit Madan Mohan Malaviya were both
named as recipients of the Bharat Ratna, the country's highest civilian honor, on December 23,
2014.
● Mr. Vajpayee received the Bharat Ratna, the highest civilian honor in India, in 2015.
International Day of Epidemic Preparedness: December 27
● The International Day of Epidemic Preparedness, observed annually on December 27, serves as a
global reminder of the urgent need to strengthen public health systems for preventing, detecting, and
responding to infectious disease outbreaks.
● Established: By the United Nations General Assembly on December 7, 2020.

NATIONAL NEWS
Curtain Raiser for Ashtalakshmi Mahotsav 2024: A Celebration of Northeast India’s Cultural and
Economic Potential
• The Ashtalakshmi Mahotsav 2024, a grand festival celebrating the rich cultural and economic
heritage of Northeast India, will commence on December 6, 2024, at Bharat Mandapam, Pragati
Maidan, New Delhi.
• Chaired by Union Minister of Communications and Development of the Northeastern
Region, Shri Jyotiraditya M. Scindia, the curtain raiser event emphasised the festival's goal of
showcasing the Northeast's vibrant culture and economic potential.

India Re-elected to the UN Peacebuilding Commission (2025-2026)

• India has secured its re-election to the United Nations Peacebuilding Commission (PBC) for
the 2025-2026 term, reaffirming its active commitment to promoting global peace and stability.

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 Important Monthly Current Affairs Capsule – December 2024

• The announcement was made by the Permanent Mission of India to the United Nations via social
media platform X.
• Founding Member: India has been an active participant since the PBC's establishment in 2005.

Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0

• Launched on October 1, 2021, AMRUT 2.0 aims to make Indian cities self-sufficient and water-
secure by focusing on key urban infrastructure projects, including sewerage management, water
body restoration, and expanding green spaces.
• Total Budget: ₹2,99,000 crore over five years.
• Central Contribution: ₹76,760 crore provided to States and Union Territories (UTs).
• Approved Projects:
o Number of Projects: 8,998.
o Worth: ₹1,89,458.55 crore.

EPFO Approves Amnesty Scheme for Employers to Allow Delayed Provident Fund Deposit Sans
Penalty
• The Employees' Provident Fund Organisation (EPFO) has introduced the Amnesty Scheme
2024, aimed at encouraging compliance among employers.
• This initiative provides a limited-time opportunity for employers to deposit past provident fund
dues without penalties.
• Voluntary Compliance: Employers can disclose and rectify past non-compliance without legal or
financial repercussions.
Centre Delays PM Internship Scheme Launch; New Date To Be Announced
• The central government’s PM Internship Scheme (PMIS), a youth-focused initiative, has been
delayed.
• While the reasons for the delay remain undisclosed, the postponement does not seem related to
companies or job seekers.
• Internship Launch Timeline:
o Originally scheduled for December 12, 2024, the first batch's launch has been deferred,
with a new date yet to be announced.
o Application Window:
▪ Initially closed on November 10, it was extended to November 15, 2024.

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 Important Monthly Current Affairs Capsule – December 2024

Growing Investment in Women-Centric Welfare: Indian States Allocate $18 Billion for Cash Transfer
Schemes in 2024-25
• Indian states have significantly increased their focus on women-centric welfare schemes,
with nine states collectively allocating $18 billion (0.5% of India’s GDP) in the 2024-25 Budget
Estimates for cash transfers and developmental programs to empower women.
• These schemes have become a key strategy for political parties, particularly in attracting women
voters and influencing election outcomes.
• Maharashtra's "Ladki Bahin Yojana" played a pivotal role in the electoral success of the BJP-led
coalition in recent elections.

Government's Efforts to Boost Female Labour Force Participation (FLPR)

• The Government of India is actively working on a national policy document aimed at increasing
female labour force participation (FLPR), with a focus on creating a supportive environment,
including a viable care economy structure.
• The government plans to introduce childcare facilities for women, particularly in the informal
sector, to ease the burden of caregiving.
• National Rural Employment Guarantee Scheme (NREGS) could be expanded to include child
care provisions.
• The Palna scheme by the Ministry of Women and Child Development already offers day-care
facilities for children of working parents.

Progress Under Pradhan Mantri Gram Sadak Yojana (PMGSY) in Jammu and Kashmir
• In a significant development, approximately 3,500 projects, including 217 bridges, have been
successfully completed under the Pradhan Mantri Gram Sadak Yojana (PMGSY) over the last
two decades in Jammu and Kashmir.
• The scheme, aimed at enhancing rural connectivity, particularly in remote and hilly regions, has
been pivotal in improving infrastructure across the Union Territory.
• 3,429 projects, including 217 bridges, have been completed, connecting 2,219 out of 2,140 rural
habitations.
• The projects have cost around Rs 12,650 crore and have helped connect rural areas with all-
weather roads, improving accessibility.
• The PMGSY has seen notable progress in the last five years, particularly focusing on rural and
hilly areas.

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 Important Monthly Current Affairs Capsule – December 2024

Pune and Hyderabad Poised to Challenge Bengaluru’s GCC Hub Dominance

• Bengaluru, traditionally the dominant hub for Global Capability Centers (GCCs), is facing
increasing competition from Pune and Hyderabad.
• As GCCs explore alternatives due to high rental costs and expanding metro infrastructure, these
cities are emerging as attractive alternatives.
• Bengaluru continues to lead the office market with over 230 million square feet of stock.
• However, rising rental costs in Bengaluru, coupled with enhanced metro infrastructure in cities
like Hyderabad and Pune, are shifting the preference of GCCs towards these alternatives.
Oxford Word of the Year 2024: Brain Rot
• The Oxford University Press (OUP) has declared 'brain rot' as the Oxford Word of the Year 2024,
reflecting a societal focus on the consequences of excessive consumption of low-quality online
content, particularly through social media.
• This decision followed a global public vote involving over 37,000 participants, underscoring the
phrase’s resonance in contemporary discourse.
• Primary Meaning: Refers to both the low-quality digital content pervasive on platforms like TikTok
and the cognitive and emotional toll of consuming such material.

FSSAI Classifies Packaged Drinking Water and Mineral Water as 'High-Risk Food Category'
• The Food Safety and Standards Authority of India (FSSAI) has officially classified packaged
drinking water and mineral water as part of the 'High-Risk Food Category'.
• This change follows the government's decision to remove the Bureau of Indian Standards (BIS)
certification requirement for these products.
• Packaged drinking water and mineral water will now be subject to mandatory
inspections and third-party audits by food safety agencies recognized by FSSAI.

Coastal Shipping Bill, 2024: A Step Towards Modernizing India's Maritime Sector
• The Coastal Shipping Bill, 2024 was introduced in the Lok Sabha with the aim of modernizing
and simplifying India's maritime sector.
• This bill is designed to enhance the efficiency and competitiveness of the maritime industry,
particularly benefiting domestic shipping companies.
• The bill proposes the removal of the requirement for Indian-flagged ships to obtain trading
licenses for coastal commerce. This aims to simplify regulatory processes, making it easier for
domestic shipping companies to engage in coastal shipping.

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 Important Monthly Current Affairs Capsule – December 2024

Prime Minister to inaugurate ‘Ashtalakshmi Mahotsav’ to showcase eight northeastern States

• Prime Minister Narendra Modi will inaugurate the ‘Ashtalakshmi Mahotsav 2024’, a three-day
festival beginning December 6 at the Bharat Mandapam here to showcase the cultural, social,
and economic fabric of the eight northeastern States.
• The Ashtalakshmi Mahotsav will be a groundbreaking cultural festival hosted by the Ministry of
Development of North Eastern Region (DoNER).
• Theme & Vision: The festival reflects Prime Minister Narendra Modi's vision of making Northeast
India the engine of India’s growth, with the eight avatars of Lakshmi symbolizing the region’s
prosperity, opulence, knowledge, agriculture, and more.
• Mascot - Purvi: The event introduces Purvi, a young girl representing the diversity of Northeast
India, symbolizing the spirit of the region beyond the festival.
The Directorate of Revenue Intelligence (DRI) celebrates its 67th Foundation Day on 4th December
2024
• The Directorate of Revenue Intelligence (DRI) celebrates its 67th Foundation Day on 4th
December 2024 in New Delhi.
• Release of Smuggling in India Report 2023-24:
o Highlights DRI’s performance and experiences over the last financial year.
o Focuses on trends in anti-smuggling and commercial fraud detection.
• Bilateral and Multilateral Customs Cooperation:
o DRI has been instrumental in fostering cooperation through Customs Mutual Assistance
Agreements (CMAA).
About DRI
• The Directorate of Revenue Intelligence (DRI) is India’s premier intelligence and enforcement
agency under the Central Board of Indirect Taxes & Customs (CBIC), Government of India.
• Established: 4th December 1957.
• Headquarters: New Delhi.

Rajya Sabha clears Bill to boost investment in oil, gas exploration

• Rajya Sabha Passes Oilfields (Regulation and Development) Amendment Bill, 2024
• Purpose:
o Amend the existing law governing the exploration and production of oil and gas.
o Delink petroleum operations from mining operations to attract investment.

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 Important Monthly Current Affairs Capsule – December 2024

PM Surya Ghar Muft Bijli Yojana receives 1.45 cr registrations: MoS Shripad Naik
PM Surya Ghar Muft Bijli Yojana: Updates and Progress
• Objective: Achieve 1 crore rooftop solar installations in the residential sector by FY27.
• Budget Allocation: Rs 75,021 crore.
• Registrations:
o Total of 1.45 crore registrations on the National Portal.
• Applications Received:
o 26.38 lakh applications submitted.
• Installations Completed:
o 6.34 lakh rooftop solar installations achieved.
Successful Completion of the Natural Rubber (NR) plantation in the North East, part of the INROAD
(Indian Natural Rubber Operations for Assisted Development) project for FY2024-25
• The INROAD (Indian Natural Rubber Operations for Assisted Development) project has achieved
remarkable success in the development of Natural Rubber (NR) plantations in the North Eastern
states and West Bengal.
• The INROAD project aims to develop 200,000 hectares of rubber plantation in the North Eastern
states and West Bengal.
• As of FY2024-25, the project has successfully completed the plantation of 125,272 hectares
across 94 districts in these regions.

25th Hornbill Festival kickstarts in Nagaland

• The Hornbill Festival continued its 25th anniversary celebrations on Day 4 under the theme
"Cultural Connect", showcasing an impressive array of traditional performances from various
tribes of Nagaland.
• The Hornbill Festival is an annual event celebrated from 1st to 10th December in the
northeastern Indian state of Nagaland.
• Known as the Festival of Festivals, it brings together the ethnic diversity of Nagaland,
showcasing the culture, traditions, and rituals of the various tribes that call the state home.

Rajya Sabha passes 'Boilers Bill, 2024' to replace century-old Boilers Act, 1923
• The Boilers Bill, 2024 was presented for consideration and passing in the Rajya Sabha by Shri
Piyush Goyal, Union Minister of Commerce and Industry.

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 Important Monthly Current Affairs Capsule – December 2024

• After detailed discussions, the Bill was passed by the Rajya Sabha and will now be moved for
consideration and passing in the Lok Sabha.
• One such Act under review is the Boilers Act, 1923, which deals with the safety of life and
property concerning boilers.

Government Launches Unified Legal Metrology Portal eMaap

• The Department of Consumer Affairs, Government of India, is leading the development of the
National Legal Metrology Portal (eMaap) to strengthen fair trade practices, ensure consumer
protection, and establish a centralized database for stakeholders within the legal metrology
ecosystem.
• This platform will streamline the regulatory process by integrating various state-level metrology
systems into a unified national framework, ensuring greater transparency and efficiency.
‘Anna Chakra’ and SCAN Portal: Transforming India's Public Distribution System
• Pralhad Joshi, Minister of Food and Consumer Affairs, introduced ‘Anna Chakra’, a cutting-edge
supply chain optimisation tool, and the SCAN Portal, aimed at revolutionising India’s Public
Distribution System (PDS).
• Key Features of ‘Anna Chakra’
• Objective: Optimize foodgrain movement within India's logistics network, targeting efficiency and
sustainability.
• Development: A collaborative effort between the World Food Programme and IIT-Delhi,
employing advanced algorithms for supply chain management.

Visa Projects Rapid Growth in Co-Branded Credit Cards in India

• Visa, a global payment network, anticipates robust growth in the co-branded credit card segment
in India over the next four years, driven by consumer demand and the e-commerce boom.
• Co-branded credit cards currently represent 12-15% of total credit cards in India (FY24).
• Expected to surpass 20-25% by FY28, with growth outpacing traditional credit cards.

Bharatiya Vayuyan Vidheyak (BBV) 2024 Replaces the Aircraft Act, 1934
• The Rajya Sabha passed the Bharatiya Vayuyan Vidheyak (BBV) 2024 completing the legislative
process initiated by the Lok Sabha in August 2024.
• This marks the replacement of the 90-year-old Aircraft Act, 1934, which had been amended 21
times.

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 Important Monthly Current Affairs Capsule – December 2024

• The BBV 2024 aims to enhance ease of doing business in the aviation sector, streamlining
regulations to align with the technological advancements of one of the most modern industries.

NHAI to Issue Green Bonds for Delhi-Mumbai Expressway Project

• The National Highways Authority of India (NHAI), through its fully owned Special Purpose Vehicle
(SPV), DME Development Limited (DMEDL), has announced its plan to issue green bonds to
fund environmental sustainability initiatives for the Delhi-Mumbai Expressway project.
• Total Size: The green bond issue will be up to Rs. 1,000 Crores, with an initial base issue size of
Rs. 500 Crores.
Union Cabinet Approves Delhi Metro's Rithala-Narela-Nathupur Corridor Under Phase IV
• The Union Cabinet, led by Prime Minister Narendra Modi, has approved the construction of the
Rithala-Narela-Nathupur (Kundli) corridor, part of Delhi Metro's Phase-IV project, aiming to
enhance connectivity between Delhi and Haryana.
• This corridor will extend over 26.463 km and is scheduled for completion within four years.
• Total Cost: ₹6,230 crore.
• Implementing Agency: Delhi Metro Rail Corporation (DMRC), a 50:50 partnership between the
Government of India (GoI) and the Government of National Capital Territory of Delhi (GNCTD).

India Launches First TV Channel in Indian Sign Language (ISL) under PM-eVidya Initiative
• Union Education Minister Dharmendra Pradhan unveiled Channel 31, India’s first television
channel in Indian Sign Language (ISL).
• This significant step is part of the PM-eVidya initiative to create an inclusive educational
environment for individuals with hearing disabilities.
• Provides learning materials for school children aligned with central and state curricula.

Three Books on Sitaram Yechury’s Writings Released Posthumously

• Three books based on the late Sitaram Yechury's writings on culture, media, science, and
secularism were released, marking a tribute to his intellectual legacy.
• Published by SAHMAT (Safdar Hashmi Memorial Trust) and Tulika Books, the event celebrated
Yechury’s contributions to political and cultural discourse.
• Hindu Rashtra Hai Kya:A Hindi translation of Yechury’s 1993 English book What is Hindu
Rashtra?

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 Important Monthly Current Affairs Capsule – December 2024

• Originally published after the Babri Masjid demolition, it examines the rise of Hindutva forces,
focusing on the RSS ideology and its impact on India’s secular framework.

India to Chair the 68th Session of the UN Commission on Narcotic Drugs (CND)
• In a historic milestone, India has been elected to chair the 68th Session of the United Nations
Commission on Narcotic Drugs (CND) for the first time.
• Ambassador Shambhu S. Kumaran, India’s Permanent Representative to the United Nations in
Vienna, assumed this esteemed role, marking a significant step in India’s leadership on global
drug policy issues.
• The CND is a key policy-making body of the UN that focuses on addressing global drug
challenges and fostering international collaboration. It operates under the United Nations Office
on Drugs and Crime (UNODC) in Vienna and is a functional commission of the UN Economic and
Social Council (ECOSOC).
Prime Minister Modi Inaugurates Rising Rajasthan Global Investment Summit 2024
• Prime Minister Narendra Modi inaugurated the Rising Rajasthan Global Investment Summit 2024
and the Rajasthan Global Business Expo at the Jaipur Exhibition and Convention Centre in
Jaipur, Rajasthan.
• The summit, themed “Replete, Responsible, Ready”, aims to boost investments and highlight
Rajasthan's growing potential in various sectors.
PM POSHAN Scheme: Enhanced Nutrition and Support for Students
• The PM POSHAN Scheme, a centrally sponsored initiative by the Government of India,
continues to play a pivotal role in providing nutritional support to students in Government and
Government-aided schools.
• Under the scheme, hot-cooked meals are served to 11.70 crore students in Balvatika (preschool
level) and classes I to VIII across 10.24 lakh schools.

PM Modi Launches LIC’s Bima Sakhi Yojana to Empower Women Through Financial Literacy and
Insurance Awareness
• Prime Minister Narendra Modi inaugurated the Bima Sakhi Yojana, an initiative by the Life
Insurance Corporation of India (LIC), designed to promote women’s empowerment by enhancing
financial literacy and insurance awareness across underserved communities.
• Target Audience:
o Women aged 18–70 years.

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 Important Monthly Current Affairs Capsule – December 2024

o Minimum educational qualification: Class 10 pass.

• Objective:
o Train women as volunteer insurance agents to promote financial literacy and increase
insurance penetration in rural and semi-urban areas.

Coffee Plantations Exempted from SARFAESI Act Provisions

• The Indian government has clarified that the Securitisation and Reconstruction of Financial
Assets and Enforcement of Security Interest (SARFAESI) Act will not apply to coffee plantations
for loan recoveries.
• The announcement came in a written response by Minister of Commerce, Piyush Goyal, to a
question raised in Parliament by Udupi-Chikamagalur MP Kota Srinivas Poojary.
• The government unequivocally stated that coffee crops are excluded from the SARFAESI Act's
purview.
India to Launch ‘One Nation, One Subscription’ Initiative for Research Access
• Starting January 1, 2025, around 1.8 crore students from state-funded higher education
institutions (HEIs), including universities and IITs, will gain access to research papers from
leading global journals under the government’s ‘One Nation, One Subscription’ (ONOS) initiative.
• In the first phase, over 13,400 international journals from renowned publishers like Elsevier,
Springer Nature, and Wiley will be available to students, researchers, and faculty.
• Disciplines covered include science, technology, engineering, mathematics (STEM), medicine,
social sciences, management, and humanities.

Prime Minister Narendra Modi Releases Compendium of Subramania Bharati's Works

• Prime Minister Narendra Modi unveiled the complete works of the legendary Tamil poet, freedom
fighter, and visionary Subramania Bharati at 7, Lok Kalyan Marg, New Delhi.
• The event marked a significant tribute to Bharati on his birth anniversary, celebrating his
unparalleled contributions to Indian literature, culture, and the freedom movement.
• Titled “Kaala Varisaiyil Bharati Padaippugal,” the compendium spans 23 volumes compiled over
six decades by Seeni Vishwanathan, with publication by Alliance Publishers.

Merchant Shipping Bill, 2024 Introduced in Lok Sabha

• The Ministry of Ports, Shipping, and Waterways has introduced the Merchant Shipping Bill, 2024,
in the Lok Sabha, aiming to repeal and replace the Merchant Shipping Act, 1958.

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 Important Monthly Current Affairs Capsule – December 2024

• This legislation seeks to modernize maritime laws, align them with India's international
obligations, and promote the development of the shipping sector.
• A National Shipping Board will be created to advise the Central Government on matters
concerning Indian shipping.

India's Strategic Initiatives to Transform Agriculture

• The Government of India has launched a series of impactful programs aimed at boosting
agricultural productivity, empowering farmers, and fostering sustainable practices.
• These initiatives, recently approved by the Union Cabinet, reflect a strong commitment to
modernizing the agricultural sector while ensuring environmental sustainability.
• Clean Plant Programme (CPP)
• Launch Date: August 9, 2024
• Budget: ₹1,765.67 crore
Rubber Research Institute of India Unveils GM Rubber Clone RRII 417 for Northeast
• In a significant stride for the INROAD project, the Rubber Research Institute of India (RRII),
Kottayam, has introduced a genetically modified (GM) rubber clone—RRII 417—tailored
specifically for the climatic conditions of India’s Northeast region.
• This development aims to expand rubber cultivation across 2 lakh hectares in the region.

India to Roll Out 5G Mobile Connectivity at Airports

• India is poised to introduce 5G mobile connectivity at airports, a transformative step aimed at
enhancing passenger services and operational efficiency.
• The initiative reflects the government’s broader vision to integrate next-generation technology
into public infrastructure.
• Phased Rollout
o The rollout will commence at major international airports, including:
▪ Delhi
▪ Mumbai
▪ Bengaluru
▪ Chennai
o Telecom providers and airport operators are setting up the necessary infrastructure.
India’s Defence Export Vision: Doubling by 2029

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 Important Monthly Current Affairs Capsule – December 2024

• The Narendra Modi government aims to more than double defence exports from ₹21,083 crore in
March 2024 to over ₹50,000 crore by 2029.
• Domestic defence production in FY24 reached an unprecedented ₹1.27 lakh crore, with a target
of ₹3 lakh crore by 2029.
• Major global defence manufacturers are keen to relocate production lines to India, enhancing
local production capabilities.
• India is exporting defence equipment to over 100 countries, with top destinations including the
US, France, and Armenia.

Union Cabinet Approves Bills for Simultaneous Elections

• The Union Cabinet has approved two Bills aimed at facilitating the implementation of
simultaneous elections to the Lok Sabha and State Assemblies.
• This decision follows the recommendations of a high-level committee chaired by former President
Ram Nath Kovind.
• Simultaneous elections involve conducting polls for the Lok Sabha, State Legislative Assemblies,
and local bodies (Municipalities and Panchayats) together.
Union Ministry of Statistics and Programme Implementation (MOSPI) Unveils Five-Year Plan (2025-
2029)
● The Union Ministry of Statistics and Programme Implementation (MOSPI) is set to launch an
ambitious five-year plan (2025-2029) to modernize India’s statistical systems and leverage advanced
technologies such as artificial intelligence (AI) and machine learning (ML).
India Strengthens Artillery and High-Altitude Combat Capabilities
● The Cabinet Committee on Security (CCS) has approved the acquisition of 100 additional K-9 Vajra
self-propelled howitzer guns from Larsen & Toubro (L&T), along with progress on Zorawar light tank
trials.
● This reflects India's focus on bolstering its firepower and mobility in challenging terrains.
● Specifications and Capabilities
o Type: 155-mm, 52-calibre self-propelled howitzers.
o Range: Over 50 km.
o Mobility: Designed for extreme heat and cold, capable of deployment in deserts and high-
altitude areas along the LAC (China) and LoC (Pakistan).
o Manufacturing: Produced at L&T's Armoured Systems Complex in Hazira, Gujarat, with
technology transferred from Hanwha Defense (South Korea).

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 Important Monthly Current Affairs Capsule – December 2024

o Indigenization: L&T has significantly increased domestic components to support

Aatmanirbharta (self-reliance) in defence.
Prime Minister Narendra Modi to Conclude the Fourth National Conference of Chief Secretaries
● Prime Minister Narendra Modi will preside over the concluding session of the fourth National
Conference of Chief Secretaries, held in New Delhi.
● This three-day event, which began, aims to enhance collaboration between the central and state
governments by evolving a common development agenda.
● The overarching theme for this year’s conference is:
"Promoting Entrepreneurship, Employment & Skilling - Leveraging the Demographic Dividend."
Discussions revolved around six key sectors identified for priority attention:
1. Manufacturing
2. Services
3. Rural Non-Farming
4. Urban Development
5. Renewable Energy
6. Circular Economy
New Consumer Complaints Platform to Revolutionize Grievance Redressal
● The Department of Consumer Affairs is set to launch a “future-ready” consumer grievance redressal
platform featuring the e-Jagriti app and an updated portal.
● This initiative, aimed at enhancing accessibility and efficiency in resolving consumer complaints, will
be unveiled on National Consumer Day, 24 December 2024.
● India’s consumer forums currently handle over 500,000 complaints annually. The revamped system
aims to ensure speedy and hassle-free resolution of grievances.
1st India Maritime Heritage Conclave (IMHC 2024): A Celebration of India’s Maritime Legacy and
Future
● The India Maritime Heritage Conclave (IMHC 2024), held on December 11-12, organized by the
Ministry of Ports, Shipping and Waterways (MoPSW), marked a significant milestone in recognizing
India’s rich maritime history while focusing on its future as a global maritime leader.
● The event brought together ministers, maritime experts, and international dignitaries, reinforcing
India’s pivotal role in global trade and its growing maritime potential.
India's First Diabetes Biobank Launched in Chennai
● India has established its first diabetes biobank in Chennai, a collaborative effort between the Indian
Council of Medical Research (ICMR) and the Madras Diabetes Research Foundation (MDRF).

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 Important Monthly Current Affairs Capsule – December 2024

● This state-of-the-art facility aims to advance diabetes research by collecting, processing, and storing
biological samples for in-depth studies into the causes, patterns, and related complications of the
disease.
Key Objectives of the Biobank
● Facilitating Advanced Research: The biobank will focus on identifying novel biomarkers for early
diabetes detection and personalizing treatment strategies.
● Studying Indian Diabetes Patterns: Unique diabetes variations in India, including genetic and
environmental factors, will be analyzed.
● Longitudinal Studies: It will support long-term research tracking the progression of diabetes and
its complications.
● Global Collaboration: The facility aims to enhance India’s role in the global fight against diabetes,
contributing valuable data for collaborative research.
India Launches Jalvahak Incentive Scheme for National Waterways
● The Indian government has introduced the Jalvahak incentive scheme, a pioneering initiative aimed
at promoting long-haul cargo transportation via the country’s extensive national waterways network.
● By providing direct financial incentives, this scheme seeks to decongest road and rail networks
while fostering an eco-friendly and economical transportation system.
● Targeted Waterways:
The scheme focuses on National Waterways 1 (Ganga), 2 (Brahmaputra), and 16 (Barak), covering
key regions of India.
● Incentive Structure:
o Offers up to 35% reimbursement on operating costs for cargo transportation.
o Specifically incentivizes goods moved over distances of 300 km or more via waterways.
India Launches Its First Green Steel Taxonomy: A Milestone in Decarbonization
● India has made a significant leap in its commitment to reducing carbon emissions in the steel sector.
Shri H.D. Kumaraswamy, Union Minister of Steel & Heavy Industries, unveiled the country’s first-
ever Taxonomy of Green Steel at Vigyan Bhavan, New Delhi.
● This pioneering framework establishes clear definitions, metrics, and benchmarks for producing
environmentally friendly steel, advancing India's efforts toward a low-carbon economy and net-zero
emission intensity by 2070.
Northern Coalfields Limited (NCL) Launches CHARAK Project for Free Healthcare

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 Important Monthly Current Affairs Capsule – December 2024

● Northern Coalfields Limited (NCL), under the Ministry of Coal, has introduced the CHARAK project
to provide free medical treatment to economically disadvantaged individuals in Singrauli (Madhya
Pradesh) and Sonbhadra (Uttar Pradesh).
● The initiative reflects NCL’s dedication to enhancing the socio-economic conditions of coalfield
regions, specifically addressing life-threatening diseases among low-income families.
● Target Beneficiaries:
o Families with annual incomes below ₹8 lakh residing in Singrauli and Sonbhadra.
Prime Minister Narendra Modi Presents 11 Pledges for India's Bright Future on 75th Anniversary of
Constitution
● On the occasion of the 75th year of India’s Constitution, Prime Minister Narendra Modi delivered a
powerful speech in the Lok Sabha, outlining 11 pledges for a brighter future for the nation.
● The speech emphasized the importance of inclusive development, zero tolerance for corruption, and
the need to stay true to the principles of the Constitution.
● Both citizens and the government must fulfil their duties for the nation’s growth.
● The government aims for inclusive development, ensuring every section of society benefits, under
the principle of ‘Sabka Saath, Sabka Vikas’ (Together with All, Development for All).
Vice President Inaugurates GSI Geoscience Museum in Gwalior
● Vice President Shri Jagdeep Dhankhar inaugurated the GSI Geoscience Museum in Gwalior,
Madhya Pradesh, marking the launch of a premier center dedicated to exploring and celebrating
Earth's geological treasures.
● The museum, situated in the historic Victoria Market Building, aims to blend tradition with modern
innovation, offering visitors insights into India's rich geological heritage.
India's EV Charging Infrastructure: Rs 16,000 Crore CapEx Needed by 2030
● According to the FICCI EV Public Charging Infrastructure Roadmap 2030, India must invest Rs
16,000 crore in capital expenditure by 2030 to meet its public EV charging demand and achieve its
30–40% electrification mission.
● The report outlines a clear strategy to scale up public EV charging infrastructure, prioritize top cities,
and enhance EV adoption through policy support and financial incentives.
Investment Requirements
● Rs 16,000 crore capital expenditure is required to support public EV charging infrastructure by
2030.
● This investment aligns with India’s vision of achieving over 30% electrification of vehicles.
Government Launches ₹1,000 Crore Credit Guarantee Scheme for Small Farmers

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 Important Monthly Current Affairs Capsule – December 2024

● The Government of India, under the leadership of Union Food and Consumer Affairs Minister
Prahlad Joshi, has introduced a ₹1,000 crore Credit Guarantee Scheme (CGS) to support small and
marginal farmers.
● This initiative aims to reduce distress selling by providing farmers access to post-harvest loans.
Union Sports Minister Mansukh Mandaviya Launches 'Fit India' Cycling Movement
● Union Minister of Youth Affairs and Sports, Mansukh Mandaviya, flagged off the 'Fit India' cycling
movement at the Major Dhyan Chand National Stadium in Delhi.
● The event marks a nationwide campaign with cycling events held at 1,000 locations nationwide.
Objective:
o Aimed at promoting fitness, combating pollution, and building a healthier and developed
nation.
o Encourages individuals to dedicate at least one hour a week to cycling.
India Ends Duty-Free Import Policy for Solar Power Equipment
● India has scrapped duty-free imports for solar power generation equipment under the Manufacturing
and Other Operations in Warehouse Regulations (MOOWR).
● Effective 17 December 2024, the Central Board of Indirect Taxes and Customs (CBIC) has
prohibited customs-bonded warehouses from being used for solar power generation.
● Reason for Withdrawal:
o Government Concern: Potential revenue losses and misuse of bonded warehousing benefits.
o The decision aims to protect public interest and create a level playing field in the renewable
energy sector.
10th World Ayurveda Congress (WAC 2024) and Arogya Expo Inaugurated in Dehradun
● The 10th World Ayurveda Congress (WAC 2024) and the Arogya Expo were inaugurated in
Dehradun, marking a pivotal event for Ayurveda and digital health.
Event Overview:
● Organizer: The event is organized by the World Ayurveda Foundation (WAF), an initiative by
Vijnana Bharati.
● Participants: Over 5500 Indian delegates and 350 international delegates from 54 countries have
registered.
● Duration: The event will span 4 days and will feature:
o 150+ scientific sessions
o 13 associate events
o Plenary sessions

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 Important Monthly Current Affairs Capsule – December 2024

o Technical sessions and panel discussions

● Theme for WAC 2024:"Digital Health: An Ayurveda Perspective"
This theme will explore how modern technologies can transform Ayurveda by enhancing
healthcare delivery, improving research, and ensuring its integration into the evolving global
health landscape.
Top 200 Self-Made Entrepreneurs of the Millennia 2024
● The IDFC First Private Banking and Hurun India list for 2024 celebrates India’s top 200 self-made
entrepreneurs, showcasing their transformative contributions to the nation’s economy.
● Top Entrepreneurs:
o Radhakishan Damani (DMart): retained the top spot.
▪ DMart's market valuation surged 44% to ₹3.4 lakh crore.
o Deepinder Goyal (Zomato): Ranked second.
▪ Zomato's valuation rose 190% to ₹2.51 lakh crore.
o Sriharsha Majety and Nandan Reddy (Swiggy): Ranked third.
▪ Swiggy's valuation scaled to ₹1.01 lakh crore.
● Rising Stars:
o Zepto: Achieved 14th place with a 259% surge in valuation to ₹41,800 crore.
India’s Tech Industry Targets $350 Billion by 2030 Amid Slowing Growth
● The Indian tech industry is projected to reach a market size of $350 billion by 2030, growing from
$254 billion in FY2023-24, according to Nasscom President Rajesh Nambiar.
● Despite recent headwinds, the sector's anticipated 6.4% CAGR demonstrates long-term resilience.
● Earlier forecasts predicted the $350 billion milestone by FY2026, but this has now been extended by
five years due to slower-than-expected growth.
● IT exports grew just 3.3% in constant currency, totaling $199 billion—a sharp decline from 11.4%
growth the previous year.
Government to Introduce Bill to Curb Illegal Lending Apps
● The Indian government is drafting a comprehensive bill to tackle the proliferation of illegal lending
apps and unregulated lending activities.
● This legislation proposes strict punitive measures, enhanced regulation, and improved transparency
to protect consumers and restore confidence in the financial ecosystem.
Parliamentary Review May Delay India’s Digital Competition Bill

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 Important Monthly Current Affairs Capsule – December 2024

● The anticipated enactment of the Digital Competition Bill, aimed at regulating India's digital economy,
faces potential delays as the Parliamentary Standing Committee on Finance has initiated a fresh
examination of the Competition Commission of India’s (CCI) role in digital markets.
● This unexpected move came while the Ministry of Corporate Affairs (MCA) was in the advanced
stages of finalizing the draft bill after incorporating stakeholder feedback.
Centre Sets June 2026 Deadline for Mandatory Use of India-Made Solar Cells
● The Ministry of New and Renewable Energy (MNRE) has announced that from June 2026, solar
companies will need to exclusively use India-made solar photovoltaic (PV) cells to participate in
government procurement programmes.
● The move aims to reduce dependency on foreign imports for components used in solar panel
manufacturing.
● India’s installed manufacturing capacity stands at:
o 63 GW for solar modules
o 5.8 GW for solar PV cells
● The capacity for solar PV cells is expected to expand significantly in the coming year.
● The MNRE plans to issue List-II of approved solar PV cells under the Approved List of Models and
Manufacturers (ALMM), effective June 1, 2026.
● Only PV cells from this list will be eligible for government-backed solar projects.
Bharat Mobility Global Expo 2025: Accelerating India's Role as a Global Mobility Hub
● The Bharat Mobility Global Expo 2025 will take place from January 17 to 22 across Delhi NCR,
showcasing India's growing prominence in the global mobility landscape.
● With over 1,500 exhibitors and an anticipated 500,000 visitors, the event is poised to become the
world's second-largest auto show.
● It will feature leading automotive giants and focus on sustainable and electric mobility technologies.
● Theme: “Beyond Boundaries: Co-Creating the Future of the Automotive Value Chain”, aiming to
unite the sector and accelerate India's electric vehicle transition.
Prime Minister Narendra Modi to Attend Christmas Celebrations at CBCI Centre
● Prime Minister Narendra Modi is set to participate in the Christmas celebrations hosted by the
Catholic Bishops' Conference of India (CBCI) at the CBCI Centre premises in New Delhi on
December 23, 2024.
● This marks the first time a Prime Minister will attend a programme at the Headquarters of the
Catholic Church in India.
● About the Catholic Bishops' Conference of India (CBCI)

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 Important Monthly Current Affairs Capsule – December 2024

● Established: 1944
● Role: Represents and coordinates the Catholic Church's activities across India.
Government Subsidies for Electric Vehicles Under PM E-DRIVE Scheme
● The government has disbursed ₹344 crore in subsidies to electric vehicle (EV) manufacturers as
part of the Prime Minister Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-
DRIVE) scheme, which started on October 1, 2024.
● The scheme aims to promote EV adoption and enhance the country’s EV ecosystem.
● Subsidy Disbursement
● Disbursed Amount: ₹344 crore till December 16, 2024.
● Claimed Amount: ₹679 crore; ₹11.50 crore worth of claims were rejected due to discrepancies
like buyer name mismatches and battery replacements.
● Beneficiaries: Currently, only electric two-wheelers (e2W), three-wheelers (e3W), and e-
carts/rickshaws are eligible. Subsidies for other EV segments, such as e-ambulances, e-buses,
and e-trucks, are yet to be initiated.
● Scheme Details
● Total Vehicles to be Incentivized: 28,81,436 units.
● Total Outlay: ₹10,900 crore.
● Validity: Till March 2026.
● Incentive Rates:
o FY 2024-25: ₹5,000 per kWh for e2W/e3W.
o FY 2025-26: ₹2,500 per kWh for e2W/e3W.
o Capping: Either as per scheme notification or 15% of the ex-factory price, whichever is
lower.

DoCA to Launch Apps for Identifying Dark Patterns on E-Commerce Platforms

● The Department of Consumer Affairs (DoCA) is set to launch two innovative mobile applications,
‘Jago Grahak Jago App’ and ‘Jagriti App,’ on National Consumers Day.
● These apps aim to empower consumers to identify and address dark patterns on e-commerce
platforms, enhancing transparency and consumer rights.
Key Initiatives and Features
● Apps for Consumer Empowerment
● Jago Grahak Jago App:
o Monitors e-commerce URLs during online activities.

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 Important Monthly Current Affairs Capsule – December 2024

o Alerts users if a URL is potentially unsafe or features a dark pattern.

● Jagriti App:
o Allows users to report URLs suspected of using dark patterns.
o Complaints are registered with the Central Consumer Protection Authority (CCPA) for
resolution and action.
● Jagriti Dashboard
● A real-time monitoring system for e-commerce URLs.
● Provides insights into the presence of dark patterns to aid the CCPA in regulation and
enforcement.
Noida International Airport to Spur Economic Growth with Commercial District
● The upcoming Noida International Airport (NIA), situated near Jewar, is not only driving a surge
in property values but is also set to transform the region’s economy.
● Plans for a 172-acre Commercial District aim to establish a vibrant hub for business and leisure,
further solidifying NIA’s role as a key economic driver.
● Roseate Hotels and Resorts is expected to be among the first to establish its presence with a
240-room airport hotel.
2025 Republic Day Tableaux Theme and Selection Process:
● The 2025 Republic Day Tableaux theme has been announced as "Swarnim Bharat: Virasat aur
Vikas" (Golden India: Heritage and Progress), highlighting the nation’s rich heritage and forward-
looking development.
● States, UTs, and Ministries Selected
● 15 States/UTs Selected:
o Andhra Pradesh, Bihar, Chandigarh, Dadra and Nagar Haveli, Daman and Diu, Goa,
Gujarat, Haryana, Jharkhand, Karnataka, Madhya Pradesh, Punjab, Tripura, Uttarakhand,
Uttar Pradesh, and West Bengal.
● Tableaux are an integral part of the Republic Day Parade, reflecting the diverse cultural,
historical, and developmental journey of India.
● The 2025 theme will project India's vision of "Swarnim Bharat," harmonizing heritage and
development for a global audience.

Vadhvan Port Development: Rs 20,000 Crore Investment by Terminal Investment Limited (TIL)

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 Important Monthly Current Affairs Capsule – December 2024

● Jawaharlal Nehru Port Authority Switzerland-based Terminal Investment Limited Sarl (TIL) has
proposed to invest an estimated Rs 20,000 crore for the development of the Vadhvan Port and
the surrounding ecosystem
● Overview of the Development
● Project Name: Vadhvan Port Project
● Location: Near Dahanu, Palghar district, Maharashtra
● Total Project Investment: ₹76,200 crore
● Key Stakeholders:
o Jawaharlal Nehru Port Authority (JNPA): 74% ownership
o Maharashtra Maritime Board: 26% ownership
o Special Purpose Vehicle (SPV): Vadhvan Port Project Ltd. (VPPL)
Delhi Increases Income Threshold for EWS Admissions in Private Schools
● Lieutenant governor (LG) VK Saxena approved the enhancement of the threshold limit of annual
income from ₹2.5 lakh to ₹5 lakh for EWS (economically weaker sections) and disadvantaged
groups for admissions to private schools
o The Delhi High Court directed an increase to ₹5 lakh in December 2023.
o The Delhi government initially proposed raising the limit to ₹2.5 lakh in October 2024,
which was later revised following further court orders.

No-Detention Policy Abolished for Classes 5 and 8 in Central Schools

● The Central Government has eliminated the "no-detention policy" for classes 5 and 8 in schools
under its control.
● This move allows failing students to be retained in the same grade if they do not pass their year-
end tests.
● Applicability:
o The notification applies to over 3,000 central government-run institutions, including:
▪ Kendriya Vidyalayas
▪ Navodaya Vidyalayas
▪ Sainik Schools
● State-Level Implementation
● Adoption Across States:
o Following the 2019 amendment to the RTE Act, 16 states and 2 Union Territories,
including Delhi, have already scrapped the no-detention policy for classes 5 and 8.

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 Important Monthly Current Affairs Capsule – December 2024

o Haryana and Puducherry are yet to make a decision.

● Policy Discretion for States:
o Education being a state subject, individual states and UTs can decide whether to
implement or retain the no-detention policy.

Shivraj Singh Chouhan Discusses New Scheme to Lower Farmers' Transportation Costs and Promote
Natural Farming
● Union Agriculture Minister Shivraj Singh Chouhan announced the central government's plan to
develop a scheme aimed at reducing transportation costs for farmers.
● The scheme will help farmers by bearing transportation expenses, enabling them to sell produce
at larger markets in cities like Delhi, Mumbai, Chennai, and Kolkata.
● The initiative will involve state and central government agencies, including NAFED, which will
procure produce from farmers, aggregate it, and transport it to distant markets.
BPCL Announces Greenfield Refinery-Cum-Petrochemical Complex in Andhra Pradesh
● Bharat Petroleum Corporation Ltd (BPCL) has selected Andhra Pradesh as the location for its new
oil refinery-cum-petrochemical complex, marking a significant step in India's energy landscape.
● This project is expected to be the last greenfield refinery in the country, reflecting BPCL’s ambitious
plans amidst its energy transition towards net zero emissions.
● BPCL’s board has approved the commencement of pre-project activities for this refinery at an
estimated cost of ₹6,100 crore.
DGCA Fines Akasa Air ₹10 Lakh for Passenger Boarding Denial Incident
● The Directorate General of Civil Aviation (DGCA) has imposed a ₹10 lakh fine on Akasa Air for
failing to provide mandatory compensation to seven passengers denied boarding a Bengaluru-Pune
flight on September 6, 2024.
● The airline cited operational issues as the reason for the incident but failed to comply with DGCA
compensation regulations.
NFRA Penalizes Deloitte and Auditors for Lapses in Zee Entertainment Audit
● The National Financial Reporting Authority (NFRA) has taken strict action against Deloitte Haskins &
Sells and two chartered accountants for serious lapses in the audit of Zee Entertainment Enterprises
Ltd (ZEEL) for FY2018-19 and FY2019-20.
Key Penalties and Bans
1. Deloitte Haskins & Sells:
o Penalty: ₹2 crore.

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 Important Monthly Current Affairs Capsule – December 2024

2. CA A B Jani (Engagement Partner for ZEEL’s audit):

o Penalty: ₹10 lakh.
o Ban: Five years from acting as an auditor or internal auditor for any company or corporate
entity.
3. CA Rakesh Sharma (Engagement Quality Control Reviewer for ZEEL’s audit):
o Penalty: ₹5 lakh.
o Ban: Three years from being appointed as an auditor.
Prime Minister Narendra Modi to Distribute 5.8 Million SVAMITVA Property Cards in Virtual Event
● Prime Minister Narendra Modi will issue over 5.8 million property cards under the SVAMITVA
Scheme during a virtual event.
● These property cards provide a "Record of Rights" to property owners in over 50,000 villages across
12 states and union territories.
About the SVAMITVA Scheme
1. Objective:
o Launched in 2020, the scheme aims to create integrated property validation for rural India
by providing accurate property records in the Abadi (inhabited) areas of villages.
Government Launches 'Udaan Yatri Cafe' to Address Overpriced Airport Refreshments
● In response to growing concerns over high food and beverage prices at airports, the Indian
government has introduced the ‘Udaan Yatri Cafe’ initiative.
● The pilot project aims to provide affordable refreshments to air travelers, beginning at Kolkata’s
Netaji Subhas Chandra Bose International Airport.
● This initiative was spurred by Rajya Sabha MP Raghav Chadha, who raised the issue of inflated
food prices in airports during the winter session of Parliament.
Interarch Building Joins Bidding for Tata’s Lithium Battery Plant in Gujarat
● Pre-engineered building solutions provider Interarch Building Products has entered the race to
secure the construction contract for Tata Group’s 20 GWh lithium battery manufacturing plant in
Gujarat.
● This ambitious project, spearheaded by Tata Group’s Agratas Energy Storage Solutions, is set to
occupy a sprawling 22.50 lakh square meter site in Sanand.
Shaastra 2025: IIT Madras's Premier Techno-Entertainment Festival
● The 26th edition of Shaastra, India’s largest student-run techno-entertainment festival, will take place
from January 3-7, 2025, at IIT Madras.

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 Important Monthly Current Affairs Capsule – December 2024

● Drawing over 60,000 participants, the event promises a mix of innovation, sustainability, and
entertainment under the theme "Fractal Frontiers", inspired by nature’s intricate patterns.
● Themes: ‘Future Cities’ and ‘Smart Manufacturing’ added to the Shaastra Summit and Research
Conference.
Pradhan Mantri Rashtriya Bal Puraskar 2024: Recognizing Extraordinary Young Talents
● President Droupadi Murmu presented the Pradhan Mantri Rashtriya Bal Puraskar to 17 exceptional
children for their outstanding achievements in various fields such as art, culture, sports, innovation,
bravery, science, and social service.
● This prestigious award aims to honor and celebrate the extraordinary contributions of young talents
across India.
The award is presented across seven categories:
● Art and Culture
● Bravery
● Innovation
● Science and Technology
● Social Work
● Sports
● Environment
Notable Awardees:
1. Keya Hatkar (14) – Art and Culture: Despite living with spinal muscular atrophy, she advocates
for disability awareness and inclusivity through initiatives like “IM POSSIBLE” and “SMA-ART.”
2. Ayaan Sajad (12) – Art and Culture: A Sufi singer from Kashmir, recognized for his soulful
contributions to Kashmiri music.
3. Vyas Om Jignesh (17) – Art and Culture: Recognized for memorizing over 5,000 Sanskrit shlokas
and performing in 500 shows despite having cerebral palsy.
4. Saurav Kumar (9) – Bravery: Honored for saving three girls from drowning.
5. Ioanna Thapa (17) – Bravery: Recognized for rescuing 36 residents from a fire.
6. Sindhoora Raja (15) – Innovation: Awarded for creating self-stabilizing devices for Parkinson’s
patients.
7. Risheek Kumar (17) – Innovation: Founder of Kashmir’s first cybersecurity firm.
8. Hembati Nag – Sports: A judo player from a Naxal-affected area who won a silver medal at the
Khelo India National Games.
9. Anish Sarkar – Sports: The youngest FIDE-ranked chess player at just three years old.

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 Important Monthly Current Affairs Capsule – December 2024

About the Award

● Established: 1996 by the Ministry of Women and Child Development.
● Eligibility: The award is for children between the ages of 5 and 18 who are Indian citizens
residing in India.
● Awardees: Each recipient receives a medal, certificate, and a cash prize of ₹1 lakh.
Dr. Ambedkar Samman Yojana: AAP's Initiative for Dalit Students
● The Aam Aadmi Party (AAP), led by Arvind Kejriwal, has launched the Dr. Ambedkar Samman
Yojana, aimed at supporting Dalit students pursuing higher education abroad.
● This initiative, announced just before the Delhi Assembly elections, seeks to attract Dalit voters by
aligning the program with the legacy of Dr. B.R. Ambedkar, emphasizing educational empowerment
for marginalized communities.
IndiGo's Zero Waste Airport Project: A Step Toward Sustainable Aviation
● IndiGo, through its CSR initiative IndiGoReach, has launched the Zero Waste Airport Project at
Indore Airport in collaboration with the Airports Authority of India (AAI) and AAS Foundation, Indore.
● This initiative aims to minimize the environmental impact of airport operations and promote eco-
friendly waste management practices.
● The project utilizes the 4R strategy: Reduce, Reuse, Recycle, and Recover.
● Strategy: The project follows the 4R framework – Reduce, Reuse, Recycle, and Recover.
Prime Minister Modi Pays Tribute to Pandit Madan Mohan Malaviya on His 162nd Birth Anniversary
● On the 162nd birth anniversary of Pandit Madan Mohan Malaviya, Prime Minister Narendra Modi
paid a heartfelt tribute to the renowned freedom fighter and educationist, recalling his significant
contributions to India's independence and the establishment of Banaras Hindu University (BHU).
● The Prime Minister highlighted Malaviya's unwavering commitment to education, calling him an
enduring source of inspiration for generations.
● In honor of Mahamana Malaviya's legacy, PM Modi launched the first series of the ‘Collected Works
of Pandit Madan Mohan Malaviya’ on December 25, 2023, at Vigyan Bhawan.
Supreme Court Clarifies Judiciary's Role in Banking Matters
● The Supreme Court has emphasized that the judiciary should not intervene in matters related to
banking regulations and must defer to the Reserve Bank of India (RBI), which holds exclusive
authority in this domain.
● The Court overruled the NCDRC’s 2008 decision that had capped credit card interest rates at 30%,
calling it an overstep of judicial authority into the RBI's regulatory domain.

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 Important Monthly Current Affairs Capsule – December 2024

● Banking Regulation Act, 1949: The judgment stressed that Section 21A of the Act mandates that
interest rates charged by banks are beyond judicial scrutiny.
UK Universities to Establish Campuses in Gujarat’s GIFT City
● Queen’s University Belfast and Coventry University, two prestigious UK institutions, have applied to
set up international campuses at Gujarat’s GIFT City, continuing the trend of global educational
expansion in India.
● This move reflects India’s evolving approach to higher education, supported by relaxed regulations
to foster international collaborations.
PM Modi Chairs 45th PRAGATI Meeting: Focus on Projects Worth Over ₹1 Lakh Crore
● Prime Minister Narendra Modi presided over the 45th PRAGATI (Pro-Active Governance and Timely
Implementation) meeting emphasizing the importance of efficient grievance resolution and timely
project execution.
● This session reviewed eight critical infrastructure projects across sectors, with a combined
investment exceeding ₹1 lakh crore.
About PRAGATI Platform
● Launched: March 25, 2015.
● Developer: Prime Minister's Office (PMO) in collaboration with the National Informatics Centre
(NIC).
● Objective:
o Facilitate cooperation between the Centre and State Governments.
o Address public grievances and ensure the timely execution of key government initiatives.
Dr. Jitendra Singh Launches ‘Viksit Panchayat Karmayogi’ Initiative on Good Governance Day
● On Good Governance Day, Dr. Jitendra Singh introduced the ‘Viksit Panchayat Karmayogi’ initiative,
which aims to empower Panchayati Raj Institutions (PRIs) to decentralize governance effectively.
● This program, part of the ‘Prashasan Gaon Ki Aur’ campaign, focuses on strengthening grassroots
governance through modern tools, capacity building, and sustainable practices.
IIT Bombay Develops Needle-Free Shock Syringe for Painless Drug Delivery
● Researchers at IIT Bombay, led by Prof. Viren Menezes from the Department of Aerospace
Engineering, have developed a needle-free solution for drug delivery: the shock syringe.
● This breakthrough aims to make medical injections painless and more efficient, addressing common
challenges associated with traditional needles.
India's Record-Breaking Defence Sector Performance in FY 2023-24

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 Important Monthly Current Affairs Capsule – December 2024

● India achieved a major milestone in its defence sector during the fiscal year 2023-24, with significant
growth in both defence exports and indigenous production.
● This success reflects India's increasing self-reliance and its strengthened capabilities in the defence
industry.
o Total Value: Rs 21,083 crore (approx. USD 2.63 billion)
o Growth: A 32.5% increase compared to the previous year (Rs 15,920 crore in FY 2022-23).
o Long-Term Growth: Defence exports have increased by 31 times since FY 2013-14.
o Sector Contribution:
▪ Private Sector: 60% contribution to defence exports.
▪ Defence Public Sector Undertakings (DPSUs): 40% contribution.
● Indigenous Defence Production:
o Total Value: Rs 1,26,887 crore
o Growth: 16.7% increase compared to the previous year (Rs 1,08,684 crore).
S. Jaishankar's Visit to the United States: Strengthening India-US Relations
● External Affairs Minister S. Jaishankar recently concluded a significant visit to the United States,
marked by high-level meetings with US leaders and key diplomatic engagements.
● The visit underscored the growing strategic partnership between India and the US while addressing
pressing global and bilateral issues.
● Jaishankar met Michael Waltz, who will assume the role of US National Security Advisor in January
after Donald Trump becomes the 47th US President.
India’s Labor Codes: States and UTs to Finalize Rules by March 31, 2025
● The Union Ministry of Labor and Employment has set a deadline for all 36 states and Union
Territories (UTs) to finalize and pre-publish the harmonized draft rules for the four major labor codes
by March 31, 2025.
● These labor codes aim to overhaul and modernize India's labor law framework, simplifying
compliance and enhancing protection for workers.
● The four primary labor codes, introduced between 2019 and 2020, aim to consolidate 29 existing
labor laws into a unified framework:
o Code on Social Security (2020)
o Occupational Safety, Health, and Working Conditions Code (2020)
o Industrial Relations Code (2020)
o Code on Wages (2019)
Puducherry and Tamil Nadu Observe 20th Tsunami Memorial Day

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 Important Monthly Current Affairs Capsule – December 2024

● On December 26, 2024, the 20th anniversary of the devastating 2004 Indian Ocean tsunami was
commemorated across the coastal districts of Nagapattinam, Mayiladuthurai, and Karaikal in Tamil
Nadu.
● The events paid tribute to the victims, recognized the resilience of survivors, and reflected on two
decades of rebuilding efforts.
The decline in PM CARES Fund Contributions (2022-23)
● The PM CARES Fund, established in March 2020 to respond to the COVID-19 pandemic, witnessed
a sharp decline in contributions in the financial year 2022-23.
● Donations fell significantly to Rs 912 crore, down from the record Rs 7,184 crore in 2020-21.
● 2020-21: The fund received its highest-ever voluntary contributions, totaling Rs 7,184 crore amid the
peak of the COVID-19 crisis.

INTERNATIONAL NEWS
Australia Implements World-First Social Media Ban for Under-16s
• The Australian Parliament passed a law banning children under 16 from using social media
platforms such as TikTok, Facebook, Snapchat, Reddit, X, and Instagram.
• The law imposes fines of up to 50 million Australian dollars ($33 million) for platforms failing to
prevent children younger than 16 from holding accounts.
• The law was passed in the Senate with 34 votes to 19 and in the House of Representatives with
102 votes to 13.
About Australia :
• Prime Minister : Anthony Albanese
• Capital : Canberra
• Currency : Australian dollar
United States President-elect Donald Trump Warns of 100% Tariffs on Nine Nations Over Plans to Rival
US Dollar
• United States (US) President-elect Donald Trump warned of imposing 100% tariffs on a group of
nine nations if they attempt to create a currency rivalling the US dollar.
• BRICS Bloc's Role in Financial Reshaping:The BRICS bloc, comprising Brazil, Russia, India,
China, and South Africa, is actively working to reshape the global financial order and reduce
reliance on the US dollar.
• BRICS aims to create a financial system distinct from the Bretton Woods institutions
(International Monetary Fund (IMF) and World Bank).

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 Important Monthly Current Affairs Capsule – December 2024

Kolkata International Film Festival Designates France as a Focus Country

• The 30th edition of the Kolkata International Film Festival (KIFF) will begin on December 4, 2024
and run until December 11, 2024.
• The festival will feature 175 films from 29 countries, showcasing a diverse range of cinematic
works.
External Affairs Minister S Jaishankar visits Qatar and Bahrain to strengthen bilateral relations and
discuss investments
• External Affairs Minister S. Jaishankar visited Qatar and Bahrain from December 6-9, 2024, to
strengthen bilateral ties and discuss various sectors such as trade, investments, and security.
• Jaishankar attended the 22nd Doha Forum and participated in a panel on "Conflict Resolution in
a New Era."
• Jaishankar co-chaired the 4th India-Bahrain High Joint Commission (HJC) with Bahrain's Foreign
Minister Abdullatif bin Rashid Al Zayani.
About Qatar :
• Prime Minister : Mohammed bin Abdulrahman
• Capital : Doha
• Currency : Qatari riyal
About Bahrain :
• Crown Prince and Prime Minister : Salman bin Hamad Al Khalifa
• Capital : Manama
• Currency : Bahraini dinar (BHD)

Switzerland Suspends Most Favoured Nation Clause in Double Taxation Agreement with India
● Switzerland has suspended the Most Favoured Nation (MFN) clause in the Double Taxation
Avoidance Agreement (DTAA) with India.
● Effective from January 1, 2025, Indian companies operating in Switzerland will face a higher tax
rate of 10% on dividends, up from the earlier 5%.
● Reason for Suspension:The decision follows a 2023 Supreme Court of India ruling that the MFN
clause does not automatically apply when a country joins the OECD unless a notification under
Section 90 of the Income Tax Act is issued.
● Bilateral trade in FY 2023-24: $23.76 billion, with imports from Switzerland accounting for $21.24
billion.

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 Important Monthly Current Affairs Capsule – December 2024

● Switzerland is a major trading partner within the European Free Trade Association (EFTA).
● The India-Switzerland DTAA was signed on November 2, 1994, and amended in 2000 and 2010.
● India received approximately $10.72 billion in Foreign Direct Investment (FDI) from Switzerland
between April 2000 and September 2024.
About Switzerland :
● Capital : Bern
● Currency : Swiss franc
South Korea announces $1.9 billion investment in climate change technology
● The Ministry of Science and ICT announced that South Korea plans to invest 2.7 trillion won
($1.9 billion) in developing climate change technologies in 2025.
● This marks a 3.9% increase from the 2024 allocation of 2.6 trillion won.
● The investment is part of South Korea’s 10-year plan (2023-2032) to advance scientific
technologies to address global warming.
● South Korea aims to reduce greenhouse gas emissions by 40% from 2018 levels by 2030.
About South Korea :
● President : Han Duck-soo
● Capital : Seoul
● Currency : Korean Republic won (₩)
India, Sri Lanka to Fast-Track Economic and Defence Cooperation Agreements
● India and Sri Lanka adopted a 'futuristic vision' to expand their partnership, focusing on
investment-led growth and connectivity.
● Economic and Technology Cooperation Agreement (ETCA): Both countries agreed to conclude
the ETCA to promote bilateral trade.
● The agreement will cover areas such as trade in goods, services, technical barriers, customs
procedures, and dispute settlement.
● A ferry service will be introduced between Rameswaram (India) and Talaimannar (Sri Lanka) to
enhance connectivity.
About Sri Lanka :
● President : Anura Kumara Dissanayake
● Prime Minister : Harini Amarasuriya
● Capital : Sri Jayawardenepura Kotte (legislative), Colombo (executive and judicial)
● Currency : Sri Lankan rupee (Rs)
Russia to Offer Visa-Free Entry for Indians Starting 2025, Joining 62 Countries

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 Important Monthly Current Affairs Capsule – December 2024

● By March 2025, Indian tourists may be able to enter Russia without requiring a visa.
● This follows discussions between Russia and India in June 2024 to relax visa requirements.
● Currently, Indian visitors need visas based on their travel purposes (tourist, business,
humanitarian, private, work, or student categories).
● Indian tourism to Moscow has been increasing. In the first half of 2024, 28,500 Indian tourists
visited Moscow, a 1.5-fold increase compared to the same period in 2023.
● India ranked high in 2023 among non-CIS countries, with over 60,000 visitors, marking a 26%
increase compared to 2022.
● Since August 1, 2023, Indian travelers can apply for a unified e-visa (UEV), which takes around
four days for processing.
About Russia :
● President : Vladimir Putin
● Prime Minister : Mikhail Mishustin
● Capital : Moscow
● Currency : Ruble
UN Desertification Talks Conclude Without Agreement on Drought Combat Measures

● The 16th Conference of the UN Convention to Combat Desertification (UNCCD) took place in
Riyadh, Saudi Arabia.
● The talks ended without a binding agreement on addressing droughts, despite increasing global
aridification trends.
About UNCCD :
● Headquarters : Bonn, Germany
● Executive Secretary : Ibrahim Thiaw
China and Nepal Initiate Global Dialogue Series
● Nepal and China governments launched the "Phewa Dialogue" series in a collaborative effort to
formulate regional prosperity and peace policies.
● The dialogue is named after the famous Phewa Lake in Pokhara, Nepal, where the two-day
event is being held.
● The dialogue was inaugurated by former President Bidya Devi Bhandari of Nepal.
● The event is being hosted by Sichuan University’s China Center for South Asian Studies and
Tribhuvan University’s Department of International Relations and Diplomacy.

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 Important Monthly Current Affairs Capsule – December 2024

About China :
● President : Xi Jinping
● Capital : Beijing
● Currency : Renminbi
About Nepal :
● President : Ram Chandra Poudel
● Prime Minister : Ram Chandra Poudel
● Capital : Kathmandu
● Currency : Nepalese rupee
European Union Approves Bulgaria and Romania for Full Membership in Schengen Zone Starting Next
Year After 13-Year Wait
● The European Union (EU) has approved Bulgaria and Romania as full members of the Schengen
zone, effective from the start of next year, ending a 13-year wait.
● Bulgaria and Romania, EU members since 2007, were partially integrated into the Schengen
zone in March 2024, allowing air and sea travel without border checks.
About the Schengen Zone:
● Established in 1985, the Schengen zone currently has 29 members, including 25 EU member
states and four non-EU countries: Switzerland, Norway, Iceland, and Liechtenstein.
● It is the world's largest borderless area, allowing free travel for over 400 million people within the
zone.
About Bulgaria :
● President : Rumen Radev
● Prime Minister : Dimitar Glavchev
● Capital: Sofia
● Currency : Lev
About Romania :
● President : Klaus Iohannis
● Prime Minister : Marcel Ciolacu
● Capital: Bucharest
● Currency : Romanian leu
Moldova Joins International Solar Alliance (ISA) by Signing Framework Agreement to Boost Renewable
Energy

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 Important Monthly Current Affairs Capsule – December 2024

● Moldova has officially signed the International Solar Alliance (ISA) Framework Agreement,
reinforcing its commitment to promoting renewable energy.
● The ISA was conceptualized during COP21 in Paris in 2015 as a collaborative initiative between
India and France.
● Headquarters: The ISA is headquartered in Gurugram, India.
● Membership and Eligibility:The ISA currently has 104 member countries and 16 signatory
countries.
● The ISA Framework Agreement came into force in 2017, and following its amendment in 2020,
all United Nations member states became eligible to join the ISA.
About Moldova :
● President : Maia Sandu
● Prime Minister : Dorin Recean
● Capital : Chișinău
● Currency : Moldovan leu (MDL)
Tanzania to Be Partner Country for International Gita Mahotsav in Kurukshetra from November 28 to
December 15
● Tanzania will be the partner country for the International Gita Mahotsav held from November 28
to December 15 in Kurukshetra.
● Tanzania also participated as a partner country in the International Surajkund Crafts Fair held in
February.
● The 2024 International Gita Mahotsav will be held in Kurukshetra, Haryana, from November 28 to
December 15.
About Tanzania :
● President : Samia Suluhu Hassan
● Prime Minister : Kassim Majaliwa
● Capital : Dodoma
● Currency : Tanzanian shilling (TZS)
India, Brazil, South Africa Collaborate to Leverage Digital Public Infrastructure, AI, and Data for
Governance
● Leaders from the G20 Troika — India, Brazil, and South Africa unveiled a landmark joint
declaration focused on Digital Public Infrastructure (DPI), Artificial Intelligence (AI), and data for
governance.

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 Important Monthly Current Affairs Capsule – December 2024

● The declaration was made amidst global economic growth at just over 3%, the lowest rate since
the turn of the century.
Kannada Conference Adopts Resolution to Promote the Use of Language in Commerce
● The Sammelana passed a resolution for the full implementation of the Kannada Language
Comprehensive Development Act, 2022, which aims to promote Kannada and improve
opportunities for Kannadigas in education and employment.
● Amendment to Kannada Language Act:A resolution was passed seeking an amendment to the
Act to appoint the president of the Kannada Sahitya Parishat (KSP) as the vice chairperson of
the State-level committee enforcing the Act, replacing the Chief Secretary’s role.
● World Kannada Convention (Vishwa Kannada Sahitya Sammelana):A resolution urged the
government to hold the World Kannada Convention in Davanagere at the earliest, after several
postponements.
● Rashtrakavi Title:The Sammelana called for the government to announce or bestow the title of
Rashtrakavi on deserving individuals.
● So far, only Manjeshwara Govinda Pai, Kuvempu, and G.S. Shivaruddrappa has received this
honor.
India-European Free Trade Association FTA: Plans for Mechanisms to Accelerate $100-Billion
Investment
● India and the European Free Trade Association (EFTA) signed the Trade and Economic
Partnership Agreement (TEPA) in March 2024, aiming to boost trade and investment.
● The EFTA bloc (Switzerland, Iceland, Norway, and Liechtenstein) has committed to investing
$100 billion in India over the next 15 years, which is expected to create 1 million jobs.
● Despite Switzerland suspending the Most-Favoured-Nation (MFN) clause in the Double Taxation
Avoidance Agreement with India, it is not expected to affect the ratification of the India-EFTA
TEPA.
● Medium-Scale Enterprises: The EFTA countries aim to help medium-scale enterprises scale up
and explore opportunities in India, contributing to innovation and economic growth.
● Swiss Investments in India: Switzerland is the largest investor among EFTA countries, with
approximately $10.72 billion in FDI between April 2000 and September 2024.
About EFTA :
● Founded : 1960
● Headquarters : Geneva, Switzerland

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 Important Monthly Current Affairs Capsule – December 2024

External Affairs Minister S. Jaishankar to travel to the United States on December 24 for talks with
Antony Blinken on key bilateral, regional, and global matters
● External Affairs Minister (EAM) S. Jaishankar will visit the United States (US) from December 24-
29,2024 marking the first high-level visit from India after Donald Trump won the US presidential
election.
● Jaishankar will hold discussions with US counterparts on key bilateral, regional, and global
issues.
● Jaishankar will also chair a conference of India's Consul Generals in the US.
● Under Biden and Trump:Relations between India and the US improved under President Trump
(2017-2021), with cooperation in defence and high-technology sectors.
● The relationship continued to grow under the Biden administration, particularly with initiatives like
the US-India Initiative on Critical and Emerging Technology (iCET) launched in May 2022.
● Defence Cooperation:India signed a USD 4 billion deal with the US in October for 31 Predator
drones (for Navy, Air Force, and Army) to strengthen its military capabilities, especially along the
China border.
About United States :
● President : Joe Biden
● Capital : Washington, D.C.
● Currency : U.S. dollar ($)
Malaysia extends visa exemption for Indian tourists until 2026
● Malaysia has extended its 30-day visa exemption for Indian nationals until December 31, 2026,
as part of efforts to enhance bilateral ties and boost tourism.
● This initiative is part of Malaysia’s Visa Liberalisation Plan aimed at promoting economic and
tourism growth, especially in anticipation of Visit Malaysia Year 2026 and Malaysia’s ASEAN
chairmanship in 2025.
● Eligibility for Visa Exemption: Indian nationals can stay in Malaysia for up to 30 days by
presenting:
➔ A return flight ticket
➔ Proof of sufficient funds (bank statement or credit cards) upon arrival.
About Malaysia :
● Prime Minister : Anwar Ibrahim
● Capital : Kuala Lumpur
● Currency : Malaysian ringgit

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 Important Monthly Current Affairs Capsule – December 2024

Thailand to Introduce E-Visa System for Indian Nationals Starting January 2025
● The Royal Thai Embassy in New Delhi has officially announced the launch of Thailand’s
Electronic Visa (e-Visa) system for Indian nationals, set to roll out on January 1, 2025.
● This new system is designed to simplify the visa application process for Indian travellers, making
it more convenient and efficient.
About Thailand :
● Prime Minister : Paetongtarn Shinawatra
● Capital : Bangkok
● Currency : Thai baht
Two red pandas from Rotterdam Zoo, Netherlands, to be brought to Padmaja Naidu Himalayan
Zoological Park in Darjeeling for conservation breeding
● Two red pandas from Rotterdam Zoo, Netherlands, are being brought to Padmaja Naidu
Himalayan Zoological Park (PNZP) in Darjeeling for conservation breeding purposes.
● The pandas will undergo a one-month quarantine before being paired for breeding.
● The species is listed as endangered by the International Union for Conservation of Nature
(IUCN).
● History of Conservation at PNZP:Established in 1958, PNZP has the most successful captive
breeding program for red pandas in India.
● The conservation breeding program started in 1986 as part of the Global Captive Breeding
Masterplan.
● Conservation Status:The red panda is considered endangered by the International Union for
Conservation of Nature (IUCN) and the World Wildlife Fund (WWF).
About Netherlands :
● Prime Minister : Dick Schoof
● Capital : Amsterdam
● Currency : Euro

STATE NEWS
Centre directs Kerala to amend SilverLine detailed project report with details of existing rail network
• The Kerala Government's ambitious semi-high-speed rail project, SilverLine, aims to connect
Thiruvananthapuram and Kasaragod with trains operating at speeds up to 220 km/h.
• The project is expected to decongest the existing road and rail network and promote urbanization
in Kerala.

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 Important Monthly Current Affairs Capsule – December 2024

• Centre's Recent Directive:The Ministry of Railways has directed the Kerala Rail Development
Corporation Limited (KRDCL) to revise the Detailed Project Report (DPR) according to updated
technical standards.
About Kerala:
• Capital: Thiruvananthapuram
• Chief Minister: Pinarayi Vijayan
• Governor: Arif Mohammad Khan
• National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park,
Silent Valley National Park, Indira Gandhi National Park
Bihar to Hold Food Processing Investors' Meet
• The Bihar government will host the Food Processing Investors' Meet at Hotel Taj City Centre,
Patna, as part of the Bihar Business Connect 2024 – Global Investors’ Summit.
• Chirag Paswan, Union Minister of Food Processing Industries, will be the chief guest at the
event.
• Strategic Objectives: The event will help forge partnerships and explore synergies between
stakeholders, with the aim of making Bihar a key player in India's industrial sector.
About Bihar :
• Governor : Rajendra Arlekar
• Chief Minister : Nitish Kumar
• Capital : Patna

Telangana Set to Follow Andhra Pradesh in Scrapping Two-Child Policy

• Telangana is considering scrapping its “two-child policy,” which prohibits individuals with more
than two children from contesting local body elections.
• This move is part of a larger trend, as neighbouring Andhra Pradesh already did away with the
policy.
• Telangana will need to amend its Panchayat Raj Act, 2018, for the policy to be reversed.
• Reasons for Scrapping the Policy:
• Low Fertility Rate: Andhra Pradesh's Total Fertility Rate (TFR) is low at 1.5, compared to the
national average of 2.11, which could impact future productivity.
Telangana launches Transgender Clinics in all 33 districts; CM flags off 213 ambulances during 'Health
Festival' celebrations

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 Important Monthly Current Affairs Capsule – December 2024

• Telangana Chief Minister A. Revanth Reddy inaugurated 33 transgender clinics (Maitri Clinics),
one in each district of Telangana on December 2, 2024.
• Objective: To provide free health check-ups, diagnostic tests, and medicines for transgender
individuals, ensuring inclusive healthcare.
• The initiative is India’s first comprehensive state-wide healthcare support system dedicated to
transgender individuals.
About Telangana :
• Governor : Jishnu Dev Varma
• Chief Minister : Revanth Reddy
• Capital : Hyderabad
Indian Council of Agricultural Research approves establishment of two cotton research centres in
Telangana
• The Indian Council of Agricultural Research (ICAR) has approved the establishment of two All
India Coordinated Research Project (ACRIP) Centres on cotton in Telangana.
• The two centres will be established at Warangal (main centre) and Adilabad (sub-centre).
• Reason for the Centres: After the bifurcation of Telangana, the state lost its representation in
national-level cotton research coordination centres. As a result, Prof. Jayashankar Telangana
State Agricultural University (PJTSAU) could not participate in the national cotton research
system for the past decade.
About Telangana :
• Governor : Jishnu Dev Varma
• Chief Minister : Revanth Reddy (INC)
• Capital : Hyderabad
Uttar Pradesh designates Maha Kumbh area as a new district
• The Uttar Pradesh government declared the Maha Kumbh Mela area as a new district ahead of
the 2025 Maha Kumbh Mela.
• The district will officially be known as the Maha Kumbh Mela District.
• The notification was issued on December 1, 2024, under Section 2(th) of the Uttar Pradesh
Prayagraj Mela Authority, Prayagraj Act, 2017.
About UP :
• Governor : Anandiben Patel
• Chief Minister : Yogi Adityanath
• Capital : Lucknow

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 Important Monthly Current Affairs Capsule – December 2024

Madhya Pradesh Declares Ratapani Wildlife Sanctuary as State's 8th Tiger Reserve
• The Madhya Pradesh (MP) government has officially declared Ratapani Wildlife Sanctuary as a
tiger reserve, marking it as the 8th tiger reserve in the state.
• Kanha, Satpura, Bandhavgarh, Pench, Sanjay Dubri, Panna and Veerangana Durgavati are the
existing tiger reserves in MP.
• The National Tiger Conservation Authority (NTCA) had earlier given in-principle approval for this
move.
• Next Tiger Reserve: Madhav National Park:Following the approval for Ratapani, Madhav
National Park in Shivpuri is also on track to become the 9th tiger reserve in the state once the
formal notification is issued.
About MP :
• Governor : Mangubhai C. Patel
• Chief Minister : Mohan Yadav
• Capital : Bhopal
• National Park : Satpura National Park, Kanha National Park, Bandhavgarh National Park
• Wildlife Sanctuary : Nauradehi Wildlife Sanctuary, Bori Wildlife Sanctuary
Assam Government Prohibits Public Consumption of Beef
• The Assam Cabinet, led by Chief Minister Himanta Biswa Sarma, banned public consumption of
beef effective from December 4, 2024.
• The ban covers beef consumption in hotels, restaurants, festivals, community events, and
religious, social, and other public functions.
• Reason for the Decision:The decision followed concerns raised by State Congress president
Bhupen Kumar Borah and Dhubri MP Rakibul Hussain, who criticized the distribution of beef
during election campaigns in Samaguri Assembly constituency, where byelections were held.
• The Assam government added this provision to the Assam Cattle Preservation Act of 2021,
which previously focused on cattle slaughter and beef sale restrictions.
About Assam :
• Governor : Lakshman Prasad Acharya
• Chief Minister : Himanta Biswa Sarma
• Capital: Guwahati
• National Park: Kaziranga National Park, Manas National Park, Nameri National Park

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 Important Monthly Current Affairs Capsule – December 2024

• Wildlife Sanctuary: Garampani Wildlife Sanctuary, Laokhowa Wildlife Sanctuary, Bornadi Wildlife
Sanctuary

Rajasthan Chief Minister Bhajan Lal Sharma Introduces Nine New Policies to Attract Investors
• Rajasthan's Chief Minister Bhajan Lal Sharma introduced 9 new policies aimed at driving the
state's economic growth during a function at the Chief Minister's Office.
• These policies are designed to attract substantial investment, generate employment, and
enhance economic prosperity.
• The policies are part of the state’s effort to position Rajasthan as a leading state in India, with a
focus on fostering an investment-friendly environment and preparing for the Rising Rajasthan
Global Investment Summit.
About Rajasthan :
• Governor : Haribhau Kisanrao Bagade
• Chief Minister : Bhajan Lal Sharma
• Capital : Jaipur
• National Park : Keoladeo National Park, Ranthambore National Park
• Wildlife Sanctuary : Bassi Wildlife Sanctuary, Kumbhalgarh Wildlife Sanctuary
Tamil Nadu Assembly Passes Resolution Opposing Tungsten Mining in Madurai
• The Tamil Nadu Legislative Assembly adopted a resolution on December 9, 2024, urging the
Union government to cancel the tungsten mining rights granted to Hindustan Zinc Limited in
Nayakkarpatti village, Melur taluk, Madurai district.
• State's Objection: The Tamil Nadu government alleged that the Union government ignored the
State’s objections during the auction of mining rights for critical and strategic minerals.
About Tamil Nadu :
• Governor: R. N. Ravi
• Chief minister: M. K. Stalin
• Capital: Chennai
• Dance : Bharatnatyam, Karakattam
• National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of
Mannar Marine National Park
• Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird
Sanctuary
• Tiger Reserve: Anamalai Tiger Reserve

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 Important Monthly Current Affairs Capsule – December 2024

• Biosphere Reserve : Agasthyamalai Biosphere Reserve

Nagaland's 25th Hornbill Festival kicks off amid debate on relaxing 35-year-old liquor prohibition law
• The 25th edition of Nagaland's renowned Hornbill Festival is currently underway, drawing
attention due to a debate over relaxing the 35-year-old liquor prohibition law during the festival.
• Organized by: Nagaland state government.
• Started: 2000, as an annual tradition to promote tourism and showcase Naga heritage and
culture.The theme for the Hornbill Festival 2024 is "Cultural Connect," highlighting Nagaland's
rich heritage and cultural diversity.
About Nagaland :
• Governor : La. Ganesan
• Chief Minister : Neiphiu Rio
• Capital : Kohima
Bihar Government to Organize Ambassadors' Meeting in New Delhi
• The Bihar government will host the “Bihar Business Connect 2024 Ambassadors’ Meet” on
December 9, 2024 in New Delhi to promote its investor-friendly policies and ease of doing
business.
• The event is aimed at attracting investments in sectors like textiles, leather, and food processing.
• Key Officials:The event will be inaugurated by Samrat Chaudhary, Deputy Chief Minister and
Finance Minister of Bihar.
About Bihar :
• Governor : Rajendra Arlekar
• Chief Minister : Nitish Kumar
• Capital : Patna
Gujarat's 'Gharcholas' Granted Geographical Indication Tag
• Gujarat’s traditional “Gharcholas,” worn during weddings in Hindu and Jain communities, have
received a Geographical Indication (GI) tag from the Government of India.
• The GI tag for Gharchola handicrafts was presented at the “GI and Beyond – Virasat Se Vikas
Tak” program in New Delhi.
• Gharcholas are traditional sarees made in auspicious colors like red, maroon, green, and yellow,
which hold cultural significance in Hindu rituals and weddings.
• The GI recognition for Gharchola is Gujarat’s 27th GI tag, showcasing the state's efforts to
preserve its rich cultural and artistic heritage.
About Gujarat :

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 Important Monthly Current Affairs Capsule – December 2024

• Governor : Acharya Devvrat

• Chief Minister : Bhupendrabhai Patel (BJP)
• Capital : Gandhinagar
Kerala Tourism Unveils Multilingual Microsite and E-Brochure for Sabarimala
• Kerala Tourism launched a multi-language microsite and e-brochure aimed at providing
comprehensive information about the Sabarimala temple.
• The microsite was launched by State Tourism Minister P.A. Mohamed Riyas on December 10,
2024.
• Multilingual Microsite:The microsite is available in 5 languages: English, Hindi, Telugu, Tamil,
and Kannada.
About Kerala:
• Capital: Thiruvananthapuram
• Chief Minister: Pinarayi Vijayan
• Governor: Arif Mohammad Khan
• National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park,
Silent Valley National Park, Indira Gandhi National Park
Maharashtra set to achieve $1 trillion economy by 2028-2030
● Maharashtra Chief Minister Devendra Fadnavis unveiled ambitious economic plans at the World
Hindu Economic Forum (WHEF) 2024, positioning the state to become India’s first $1 trillion
economy by 2028-2030.
● The state’s GDP is currently ₹42.7 lakh crore (approximately $500 billion).
● A council has been formed to accelerate the state's economic growth, with input from top CEOs
and industry leaders, including Tata Sons chairman N. Chandrasekaran.
About Maharashtra :
● Governor: C. P. Radhakrishnan
● Chief Minister : Devendra Fadnavis
● Capital: Mumbai
● National Park: Tadoba National Park, Navegaon National Park
● Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife
Sanctuary
● UNESCO Heritage Sites: Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco
Ensemble of Mumbai, Ajanta Caves, Elephanta Caves, Ellora Caves
Tamil Nadu Chief Minister Stalin Lays Foundation Stone for Non-Leather Footwear Unit in Ranipet

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 Important Monthly Current Affairs Capsule – December 2024

● Tamil Nadu Chief Minister M.K. Stalin unveiled the foundation stone for a non-leather and athletic
footwear manufacturing unit in Ranipet district on December 16, 2024.
● The unit is being established by Taiwanese company Hong Fu Group with an investment of
₹1,500 crore.
● The project, titled ‘Grand Atlanta – Hong Fu India Project,’ is being set up on the SIPCOT
campus at Panapakkam, Ranipet district.
● Hong Fu Industrial Group is a global footwear manufacturer that produces athletic products for
brands like Nike, Converse, Vans, and Puma.
● It is the world’s second-largest manufacturer of non-leather footwear.
● Tamil Nadu's Economic Vision: The Tamil Nadu government aims to become a 1 trillion USD
economy by 2030 and is actively working to attract investments in various emerging sectors.
About Tamil Nadu :
● Governor: R. N. Ravi
● Chief minister: M. K. Stalin
● Capital: Chennai
● Dance : Bharatnatyam, Karakattam
● National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of
Mannar Marine National Park
● Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird
Sanctuary
● Tiger Reserve: Anamalai Tiger Reserve
● Biosphere Reserve : Agasthyamalai Biosphere Reserve
Mamata Banerjee Launches "Banglar Bari" Scheme to Provide Homes for Rural Poor in West Bengal
● West Bengal (WB) Chief Minister (CM) Mamata Banerjee launched the "Banglar Bari" scheme to
provide houses for the rural poor in the state.
● The scheme was launched ahead of the 2024 Lok Sabha elections, as a response to the
Centre's failure to release funds for PM Awas Yojana (PMAY).
● 42 beneficiaries across 21 districts received the first installment of funds as part of the launch
event.
● A total of ₹1.20 lakh will be given to each eligible family for constructing a house, with ₹60,000
released as the first installment
About West Bengal :
● Governor : C. V. Ananda Bose

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 Important Monthly Current Affairs Capsule – December 2024

● Chief Minister : Mamata Banerjee

● Capital : Kolkata
Delhi L-G inaugurates country's longest golf course in Dwarka
● The inauguration of the country's longest golf course in Dwarka by Lt Governor (LG) Vinai Kumar
Saxena marks a significant development in sports infrastructure for the national capital.
● LG Saxena emphasized the importance of the Fit India Movement, which has been instrumental
in promoting sports across the country and contributing to the success of Indian athletes in
international events.
● The 18-hole golf course is located in Sector 24, Dwarka, spanning 7,377 yards and covering 158
acres.
About Delhi:
● Capital: New Delhi
● Lt. Governor: Vinai Kumar Saxena
● Chief Minister: Atishi Marlena Singh
● National Park: National Zoological Park, Sultanpur National Park
UCC will be implemented in Uttarakhand in January 2025: CM Pushkar Singh Dhami
● Uttarakhand Chief Minister Pushkar Singh Dhami has announced that the Uniform Civil Code
(UCC) will be implemented in the state from January 2025, making it the first state in India to do
so post-Independence.
● This move is expected to bring significant changes to the legal framework in Uttarakhand, with a
focus on unifying personal laws for citizens across different communities.
● The UCC will be enforced in January 2025 after all necessary preparations have been
completed.
● A five-member expert committee, chaired by retired judge Ranjana Prakash Desai, was formed
to guide the process.
● The Uniform Civil Code Bill 2024 was passed by the State Legislative Assembly on 7 February
2024.
● The bill received Presidential assent on 12 March 2024.
About Uttarakhand:
● Capitals: Winter: Dehradun, Summer: Bhararisen
● Chief Minister: Pushkar Singh Dhami
● Governor: Gurmit Singh

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 Important Monthly Current Affairs Capsule – December 2024

● National parks: Nanda Devi National Park, Jim Corbett National Park, Valley of Flowers National
Park, Rajaji National Park, Gangotri National Park, Govind Pashu Vihar National Park
Kejriwal Launches Free Healthcare for Senior Citizens through Sanjeevani Yojna Ahead of Delhi
Elections

● Arvind Kejriwal, the national convener of the Aam Aadmi Party (AAP), announced the Sanjeevani
Yojana for senior citizens (60+ years) in Delhi.
● Under the scheme, elderly citizens will receive free treatment at both government and private
hospitals with no upper limit on the treatment costs.
● Registration will begin soon, and AAP workers will go to citizens' homes to facilitate the process
and provide cards.
● This announcement follows a dispute between AAP and BJP regarding the Ayushman Bharat
scheme's non-implementation in Delhi.
Key Features of the Scheme:
● Eligibility: All senior citizens over 60 years of age, regardless of socio-economic background.
● Benefits: Full treatment cost covered by the Delhi government, with no financial limits.
● Registration Process: AAP workers will visit homes for registration and provide a card for the
scheme.
Manesar, part of Gurgaon, set to become a separate district
● The Haryana government is undertaking a major administrative restructuring, with plans to create
four new districts after municipal elections.
● Manesar, currently part of Gurgaon, is a prime candidate for district status due to its industrial
importance and demographic growth.
● A committee headed by Cabinet Minister Krishan Lal Panwar has been set up to evaluate
proposals for new districts.
● The committee has two months to submit its report.
● Manesar is a crucial center for manufacturing and logistics, with substantial industrial and urban
development.
● Proposals are also under consideration to grant district status to Assandh (Karnal), Hansi (Hisar),
Dabwali (Sirsa), and Gohana (Sonipat).
First Ganges River Dolphin Tagged in Assam, Marking Historic Milestone for Project Dolphin
● The first-ever Ganges river dolphin (Platanista gangetica) was tagged in Assam, marking a major
milestone for Project Dolphin.

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 Important Monthly Current Affairs Capsule – December 2024

● The project aims to conserve India’s National Aquatic Animal, the Ganges river dolphin, which is
an important species for aquatic biodiversity in India.
● The initiative was carried out under the Ministry of Environment, Forest and Climate Change
(MoEFCC), with collaboration between the Wildlife Institute of India (WII), the Assam Forest
Department, and Aaranyak.
● This tagging is the first of its kind in India and for the species, representing a significant
advancement in efforts to monitor and conserve the Ganges river dolphin.
About Assam :
● Governor : Lakshman Acharya
● Chief Minister : Himanta Biswa Sarma
● Capital : Dispur
● Wildlife Sanctuaries : Chakrashila Wildlife Sanctuary, Pobitora Wildlife Sanctuary, Bornadi
Wildlife Sanctuary
Masli in Gujarat's Banaskantha Becomes India's First 'Border Solar Village'
● Masali, a village in Banaskantha district, Gujarat, has become the first "border solar village" in
India.
● The transformation was achieved by completing solar rooftop installations in all 199 houses
under the Pradhan Mantri Surya Ghar Muft Bijli Yojana.
● Masali has a population of 800 and is located 40 kilometers from the Pakistan border.
● The total cost of the solar installation project in the village was ₹1.16 crore.
● Masali is the first of 17 border villages in Banaskantha district to be covered under the Pradhan
Mantri Surya Ghar Muft Bijli Yojana
● Funding Details:The ₹1.16 crore project received funding from various sources:
● ₹59.81 lakh subsidy under the PM Surya Ghar Bijli Yojana
● ₹20.52 lakh public contribution
● ₹35.67 lakh CSR (Corporate Social Responsibility) funds
About Pradhan Mantri Surya Ghar Muft Bijli Yojana:
● The Pradhan Mantri Surya Ghar Muft Bijli Yojana is the world's largest domestic rooftop solar
initiative.
● The scheme aims to provide solar power to 1 crore households by March 2027.
● It was launched by Prime Minister Narendra Modi on February 15, 2024.
About Gujarat :
● Governor : Acharya Devvrat

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 Important Monthly Current Affairs Capsule – December 2024

● Chief Minister : Bhupendrabhai Patel

● Capital : Gandhinagar
Kashmir Artisans Revive the Dodo in Papier Mâché 343 Years After Its Extinction
● Papier mâché is a renowned traditional art form in Kashmir, introduced during the 15th century
under the reign of Sultan Zain-ul-Abidin (Budshah).
● This art involves creating decorative items from paper pulp, including baubles, stars, wall
hangings, and Easter eggs.
● Kashmir artisans have revived the extinct dodo bird using papier mâché, 343 years after its
extinction.
● Kashmir Papier Mâché has received the prestigious Geographical Indication (GI) Tag,
recognizing the art form's unique regional identity.
Madhya Pradesh Declared a "Top Global Destination for 2025" by Wall Street Journal
● Madhya Pradesh (MP) has earned a spot on the Wall Street Journal’s list of "Must-Visit Global
Destinations for 2025" for its cultural heritage, wildlife, and natural landscapes.
● The state is recognized for its vibrant cultural heritage, including its festivals and historical sites,
contributing to its tourism appeal.
● Madhya Pradesh is home to 14 UNESCO World Heritage Sites, including 3 permanent and 11
tentative sites.
● Notable UNESCO sites include Khajuraho, Panna, and Bandhavgarh.
● Madhya Pradesh is often referred to as the "Heart of Incredible India" due to its diverse offerings,
making it a must-visit destination for travelers seeking adventure, culture, and nature.
About Madhya Pradesh :
● Governor : Mangubhai C. Patel
● Chief Minister : Mohan Yadav
● Capital : Bhopal
● National Park : Satpura National Park, Kanha National Park, Bandhavgarh National Park
● Wildlife Sanctuary : Nauradehi Wildlife Sanctuary, Bori Wildlife Sanctuary

Gujarat Lags Behind Less Developed States Like Bihar and Chhattisgarh in Smart Meter Installations
● Gujarat has installed over 2.19 lakh smart meters, which is about 1% of the 1.64 crore smart
meters sanctioned for the state.
● The Smart Metering National Project aims to improve operational efficiencies of state-run
electricity distribution companies (DISCOMS).

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 Important Monthly Current Affairs Capsule – December 2024

● Performance of Other States:Bihar has installed over 82.5% of the sanctioned smart meters,
leading Gujarat in the initiative.
● Assam leads the country with 22.89 lakh smart meter installations, representing 36% of the total
sanctioned installations.
● Other states with significant installations include Madhya Pradesh, Chhattisgarh, Andhra
Pradesh, Maharashtra, and Uttar Pradesh.
● Revamped Distribution Sector Scheme (RDSS):The RDSS was launched by the Government of
India in July 2021 to improve the operational efficiencies and financial sustainability of distribution
utilities (DISCOMS).
Over 40 Lakh Fake Beneficiaries Identified in Odisha's Public Distribution System e-KYC Verification
● Over 40 lakh ghost beneficiaries have been detected in Odisha during the ongoing e-KYC
verification for the Public Distribution System (PDS).
● The detection process revealed that 1 lakh to 1.5 lakh ghost beneficiaries were found in each
district.
● The verification is still in progress, with the Aadhaar-based e-KYC process being conducted to
bring transparency and improve the accuracy of beneficiary lists.
● The State Food Security Scheme (SFSS) initially had around 25 lakh beneficiaries, but the
coverage has now reduced to approximately 10 lakh beneficiaries.
● As of November 2024, the e-KYC verification was completed for 2.69 crore beneficiaries out of
the total 3.36 crore PDS beneficiaries, with 1.77 lakh ghost ration card holders already deleted.
About Odisha :
● Governor : Kambhampati Hari Babu
● Chief Minister : Mohan Charan Majhi
● Capital : Bhubaneswar
Tamil Nadu Crosses 10,000 Department for Promotion of Industry and Internal Trade -Registered
Startups Milestone
● Tamil Nadu has registered over 10,000 startups with the Department for Promotion of Industry
and Internal Trade (DPIIT) under the Union Ministry of Commerce and Industry.
● The state's initiative, StartupTN, has been instrumental in supporting the startup ecosystem
through funding programs, mentorship, and other support measures.
● Tamil Nadu is ranked as the most economically free state in the Economic Freedom Rankings for
the States of India.

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 Important Monthly Current Affairs Capsule – December 2024

● The state has introduced the Startup and Innovation Policy 2023, aimed at fostering a supportive
environment for startups and encouraging business growth.
● StartupTN Mission Director and CEO Shivaraja Ramanathan
About Tamil Nadu :
● Governor: R. N. Ravi
● Chief minister: M. K. Stalin
● Capital: Chennai
● Dance : Bharatnatyam, Karakattam
● National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of
Mannar Marine National Park
● Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird
Sanctuary
● Tiger Reserve: Anamalai Tiger Reserve
● Biosphere Reserve : Agasthyamalai Biosphere Reserve
Union Ministry of Home Affairs reintroduces Protected Area Permit in Manipur, Nagaland, and Mizoram
due to security concerns
● The Union Ministry of Home Affairs has reinstated the Protected Area Permit (PAP) in Manipur,
Nagaland, and Mizoram due to security concerns arising from the influx of individuals from
neighboring countries.
● Foreign nationals visiting these states now need to secure the necessary PAP under the
Foreigners (Protected Areas) Order, 1958.
● Definition of PAP:The Protected Area Permit (PAP) is required by foreign nationals to visit certain
sensitive areas in India located near international borders.
● These areas are deemed sensitive due to their proximity to international boundaries.
● Purpose of PAP:PAP ensures control over foreign nationals entering areas considered sensitive
for security reasons.

BUSINESS NEWS
GST on cigarettes, tobacco, and aerated beverages likely to be hiked, new 35% slab proposed
• The Group of Ministers (GoM), headed by Bihar's Deputy Chief Minister Samrat Chaudhary,
proposed significant changes to the Goods and Services Tax (GST) structure.
• These recommendations will be presented to the GST Council on December 21, 2024, for final
approval.

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 Important Monthly Current Affairs Capsule – December 2024

• GST rate on aerated beverages, cigarettes, tobacco, and related products will increase from 28%
to 35%.
• This introduces a new tax slab while retaining the existing four-tier GST structure of 5%, 12%,
18%, and 28%.

Vodafone Idea Launches AI-Powered Spam Management Solution

• Vodafone Idea (Vi) has introduced an AI and ML-driven spam management solution to protect
users from unwanted and potentially harmful SMS messages, following a similar approach by
rival Bharti Airtel.
• Employs artificial intelligence (AI) and machine learning (ML) to identify and flag spam messages
in real time.
• The system flagged over 24 million spam messages during its testing phase.

Razorpay Partners with MHA and I4C to Strengthen Cybersecurity in Digital Payments
• Fintech leader Razorpay announced its collaboration with the Ministry of Home Affairs
(MHA) and the Indian Cyber Crime Coordination Centre (I4C) to enhance cybersecurity in India's
digital payments ecosystem.
• Razorpay has integrated with over 1,600 cybercrime stations across 25 states and union
territories to create a seamless communication channel for combating cybercrime.
• Conducting specialized anti-fraud workshops for law enforcement and businesses.

Airtel Proposes Removal of License Fee for DTH Operators

• Bharati Airtel Limited (BAL) has made a formal submission to the Telecom Regulatory Authority
of India (TRAI), urging the removal of the license fee for DTH operators or the imposition of
an authorization fee for all service providers in the broadcasting sector.
• The submission is part of a consultation paper on service authorizations for broadcasting
services under the Telecom Act, 2023.
• Airtel claims that DTH operators are the only service providers in the broadcasting sector who
are subjected to license fees, creating an unequal and discriminatory environment.
• The company stresses that Cable and HITS (Headend-In-The-Sky) operators, who offer similar
services, are not required to pay the license fee, which violates the "same-service-same-
rules" principle.

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 Important Monthly Current Affairs Capsule – December 2024

Uber Shikara: Asia's First Water Transport Service Launched in Srinagar

• Uber has officially launched Asia’s first water transport service, Uber Shikara, in Dal Lake,
Srinagar, Jammu and Kashmir.
• This innovative service combines technology with the traditional shikara ride, a centuries-old
cultural experience, offering a modern, hassle-free way for tourists to explore the picturesque
lake.
• Launch Event: The service was inaugurated by Prabhjeet Singh, President of Uber India and
South Asia, who personally booked a ride via the Uber app to mark the launch.

India’s GST Collections Reach ₹1.82 Lakh Crore in November 2024:

• India’s Goods and Services Tax (GST) revenues saw a significant growth of 8.5%, totalling
over ₹1.82 lakh crore (US$ 21.74 billion) in November 2024.
• This surge, primarily driven by higher revenues from domestic transactions, highlights an
improving economic landscape and enhanced tax compliance.
• Breakdown of GST Collections for November 2024:
• Central GST (CGST): ₹34,141 crore (US$ 4.08 billion).
• State GST (SGST): ₹43,047 crore (US$ 5.15 billion).
• Integrated GST (IGST): ₹91,828 crore (US$ 10.97 billion), including ₹42,591 crore (US$ 5.09
billion) from imports.
Amazon launches AI models to challenge rivals
• Amazon made a significant leap into the rapidly expanding generative AI sector, launching its
own suite of artificial intelligence models.
• This move represents Amazon's boldest effort yet to compete with industry giants like Microsoft,
Google, Meta, and OpenAI—the creator of ChatGPT.
• Historically, Amazon's AI services, offered through its AWS cloud platform, were limited to
providing access to third-party models, including those from Anthropic, an AI startup it backs.
Myntra Joins the Quick Commerce Trend with M-Now for Faster Fashion Deliveries
• As the quick commerce trend continues to surge, Myntra has entered the space with its M-Now
offering, providing faster fashion and beauty product deliveries.
• This move comes as part of the broader shift in e-commerce, with companies aiming to meet the
growing consumer demand for instant shopping.
• Myntra plans to deliver fashion and beauty products within 30 minutes, catering to Gen Z and
millennial shoppers who are accustomed to quick gratification and diverse, expansive wardrobes.

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 Important Monthly Current Affairs Capsule – December 2024

CII Recommends Prudent Fiscal Deficit Targets for Sustained Economic Growth
• The Confederation of Indian Industry (CII) has recommended that the government adhere to
fiscal deficit targets of 4.9% of GDP for 2024-25 and 4.5% for 2025-26 in the upcoming Union
Budget 2024-25, cautioning against overly aggressive targets that might hinder economic growth.
• CII proposed a medium-term goal of reducing the central government’s debt to below 50% of
GDP by 2030-31 and a longer-term goal of below 40%.

Telangana Secures ₹7,000 Crore Investments and Launches Key Initiatives

• The Telangana government has announced securing ₹7,000 crore in investments, marking the
first anniversary of the Revanth Reddy-led Congress government.
• The state's IT and Industries Minister, D Sridhar Babu, highlighted major investment
announcements and new initiatives to drive innovation, self-reliance, and citizen-centric
governance.
• Total Investments: Telangana has received proposals for nearly ₹2 lakh crore in the past year,
with significant commitments from global business delegates.
• Davos Summit: ₹40,000 crore worth of investment proposals.
Former Swiggy CTO Dale Vaz Launches Stock Trading Platform "Sahi"
• Dale Vaz, ex-CTO of Swiggy, launched Sahi, a stock trading platform, aiming to empower retail
investors and traders.
• Co-founded with Manish Jain, former VP of Kotak Securities, the platform provides AI-driven
market insights and customizable trading tools.
• Raised $7 million in seed funding from investors like Accel and Elevation Capital.
• Inspired by a SEBI study revealing losses of ₹1.81 trillion by over 1 crore traders during FY22-
FY24.
Uber Launches 'Moto Women' in Bengaluru for Women-Only Bike Rides
• Uber has introduced a new service in Bengaluru called Uber Moto Women, designed to offer
women a safer, more comfortable commuting option by connecting female riders with female
drivers.
• Exclusively connects female riders with female drivers to address safety concerns and promote
gender comfort.
Government Realises Rs 1.46 Lakh Crore Investment under PLI Scheme
● The government investment of Rs 1.46 lakh crore has been realised, resulting in incremental
production and sales of over Rs 12.50 lakh crore across 14 PLI sectors till August 2024.

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 Important Monthly Current Affairs Capsule – December 2024

● PLI Scheme Performance (August 2024):

o Investment Realised: ₹1.46 lakh crore across 14 sectors.
o Incremental Production and Sales: Over ₹12.50 lakh crore.
o Employment Generated: Over 9.5 lakh jobs.
o Exports Surpassed: ₹4 lakh crore.
● PLI Scheme Overview:
o Objective: Enhance manufacturing capabilities, promote exports, and support India's vision of
becoming self-reliant.
o Total Outlay: ₹1.97 lakh crore across 14 key sectors.
● Incentives Distributed:
o 2022-23: ₹2,968 crore across 8 sectors.
o 2023-24: ₹6,753 crore across 9 sectors.
Bharat Vandana Park Project: Updated Progress and Features
● The Delhi Development Authority (DDA) has set March 31, 2025, as the new deadline to complete
the Bharat Vandana Park in Dwarka’s Sector 20.
● Current Status:
o Construction of entry plazas, restaurant, kiosks, and 20 toilet blocks is complete.
o 85% of the pylons and skywalk structures are finished.
o Horticulture and landscape work are expected to conclude by December, with pathway and
road work in the final stage.
Key Outcomes Expected from the GST Council Meeting
● The GST Council, chaired by Finance Minister Nirmala Sitharaman, is set to discuss and decide on
several important issues in its upcoming meeting in Jaisalmer.
1. Clarification on Taxation of Delivery Apps (Zomato, Swiggy)
● Retrospective GST Levy:
o A 5% GST on delivery charges by apps like Zomato and Swiggy will be applied
retrospectively from 2022.
o The clarification could lead to a tax liability of around ₹750 crore, as these platforms may
find it challenging to collect tax for past transactions.
2. Tax on Floor Space Index (FSI)
● Builder Obligations:
o Builders will need to pay 18% GST on payments made to local authorities for FSI,
including additional FSI charges.

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 Important Monthly Current Affairs Capsule – December 2024

o These charges are deemed commercial and facilitate business, making them taxable with
the availability of ITC.
3. Tax Cuts on Critical Healthcare Services
● Gene-Modified Cell Therapy:
o A proposal to reduce GST on gene-modified cell therapy for advanced blood cancer from
12% to nil will likely be approved, providing significant relief to patients.
4. Clarification on GST Rates for Food Items
● Ready-to-Eat Popcorn:
o Popcorn mixed with salt and spices to attract 5% GST.
o Popcorn mixed with sugar to attract 18% GST.
5. Electric Vehicle (EV) Components Taxation
● No Tax Reduction:
o The Council is unlikely to approve a reduction in GST on EV components, which currently
attract 18% and 28% GST, to 5%.
6. GST on Penal Charges by Financial Institutions
● Exemption Proposal Likely Approved:
o Penal charges levied by banks and finance companies (regulated by the RBI) may be
exempted from GST.
Infosys Inaugurates New Development Centre in New Town, Kolkata
● Infosys, one of India's leading IT services companies, inaugurated a cutting-edge development
centre in New Town, Kolkata, marking a significant milestone in the region's transformation into an IT
hub.
Facility Details
● Investment: Built at a cost of ₹426 crore.
● Size and Capacity: Spans 50 acres with the capacity to employ 4,000 IT professionals.
● Technological Focus: Innovation in areas such as cloud computing, artificial intelligence, and
digital transformation.
Zerodha Launches Margin Trading Facility Amid Market Volatility
● Leading Indian broking firm Zerodha has introduced a margin trading facility (MTF), allowing users to
borrow money to buy stocks for delivery.
● Zerodha reported ₹9,372 crore ($1.1 billion) in revenue for FY24, a 37.16% growth from FY23’s
₹6,832 crore.
SEBI Extends Suspension of Agricultural Derivative Contracts Until January 2025

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 Important Monthly Current Affairs Capsule – December 2024

● The Securities and Exchange Board of India (SEBI) has suspended trading in derivative contracts
for seven agricultural commodities until January 31, 2025.
Commodities Affected:
o Paddy (non-basmati)
o Wheat
o Chana (gram)
o Mustard seed and its derivatives
o Soybean and its derivatives
o Crude palm oil
o Moong (green gram)
o The current suspension, which was set to expire on December 20, 2024, has been
extended by just over a month, raising hopes of a potential resumption for some
commodities.
CII Proposes Reforms in Priority Sector Lending (PSL) and Development Finance Institutions (DFIs)
● The Confederation of Indian Industry (CII) has recommended significant reforms to India’s
Priority Sector Lending (PSL) framework.
● The organisation advocates for including emerging and high-impact sectors such as digital
infrastructure, green initiatives, healthcare, and innovative manufacturing.
● The organization has also called for establishing more Development Finance Institutions (DFIs)
to support these evolving sectors.
GST at 18% on used EV car sale by business, jet fuel stays out of its ambit
● The 55th GST Council meeting, chaired by Union Finance Minister Nirmala Sitharaman, resulted
in several important decisions regarding tax rates and clarifications on various goods and
services.
● GST on Sale of Used Electric Vehicles
● 18% GST will be levied on the margin value (the difference between the purchase and sale price)
for used electric vehicles (EVs) sold by businesses.
● Exemption: Sale and purchase of used EVs between individuals will continue to be GST-exempt.
● Tax Clarifications on Popcorn
● Caramelised Popcorn: 18% GST rate.
● Pre-packed and Spiced Popcorn: 12% GST.
● Unpacked and Unlabelled Popcorn: 5% GST.
● GST on Penal Charges by Banks & NBFCs

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 Important Monthly Current Affairs Capsule – December 2024

● No GST will be levied on penal charges imposed by banks and NBFCs for non-compliance with
loan terms.
● Tax Rate on Fortified Rice Kernels
● GST Reduced: 5% tax on fortified rice kernels used for public distribution (down from 18%).
● The decision on whether to levy tax on delivery charges by app-based food delivery platforms
has been deferred for further deliberation.
● Aviation Turbine Fuel (ATF)
● ATF Exempted from GST: The GST Council has decided to keep aviation turbine fuel (ATF) out
of the GST system, maintaining the current system of excise duty at the central level and VAT at
the state level.
● The deadline for the GoM tasked with addressing GST compensation cess issues has been
extended to December 31, 2024.
GST Registration for Small Businesses in 3 Days:
● To simplify the GST registration process for small and new businesses while curbing fraudulent
registrations.
● Approval: The GST Council provided ‘in-principle’ approval for the mechanism during its meeting
on December 21.
● Proposed Four-Tier Structure
● Tier 1: New and Small Businesses:
● Tier 2: Trusted Businesses:
● Tier 3: Existing Businesses with Higher ITC Needs:
● Tier 4: Change of Category for Higher ITC Needs:
Lohia Auto Launches EV Brand 'Youdha' with Rs 20-Crore Expansion Plan
● Lohia Auto announced the launch of EV brand 'Youdha' as part of its Rs 20-crore expansion
plans and it looks to manufacture and sell 3 lakh electric vehicles under the brand by 2027.
● New Brand: Youdha, a dedicated electric vehicle (EV) brand by Lohia Auto.
● Investment: ₹20 crore for brand development and expansion.
● Target: Manufacture and sell 3 lakh electric three-wheelers under the brand by 2027.
Gulf Oil Lubricants Partners with Nayara Energy: Stock Surges 4%
● Gulf Oil Lubricants India Ltd’s stock price saw a significant rise of 3.96%, reaching ₹1,216.45 on the
BSE following its strategic partnership announcement with Nayara Energy, India's largest private fuel
retailer.
Greaves Electric Mobility Files for ₹1,000 Crore IPO

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 Important Monthly Current Affairs Capsule – December 2024

● Greaves Electric Mobility, the electric vehicle (EV) arm of Greaves Cotton, has filed a draft
prospectus with SEBI for an initial public offering (IPO) to raise ₹1,000 crore.
● This includes a fresh issue and an offer for sale (OFS) of up to 18.9 crore shares by Greaves Cotton
and Abdul Latif Jameel Green Mobility Solutions DMCC.
ICAI Launches Flagship Programme for Chartered Accountants Focused on Family Enterprises
● The Institute of Chartered Accountants of India (ICAI) has unveiled its first advanced residential
flagship programme, "Empowering Trusted Advisors — Unlocking the Potential of Family
Enterprises," at its Hyderabad Centre of Excellence (CoE).
● This initiative underscores ICAI’s commitment to enhancing professional skills and supporting
innovation in the accounting profession.
Steelbird to Establish ₹250 Crore Manufacturing Facility in Hosur
● Steelbird Hi-tech India Ltd, a leading manufacturer of branded helmets, is set to build a new
manufacturing facility in Hosur, Tamil Nadu, with a total investment of nearly ₹250 crore.
● The project underscores the company's focus on strengthening its presence in South India, a critical
market for its growth.
Indian Oil Corporation Announces ₹61,000 Crore Naphtha Cracker Project in Odisha
● Indian Oil Corporation Ltd (IOCL) has committed an investment of ₹61,000 crore to establish a
naphtha cracker project in Paradip, Odisha.
● This was confirmed during a meeting between Odisha Chief Minister Mohan Charan Majhi and IOCL
Chairman AS Sahney in Bhubaneswar.
India Emerges as the 6th Largest Solar PV Exporter
● India has achieved a significant milestone, ranking as the sixth largest exporter of solar photovoltaic
(PV) products globally, with its share in the global solar PV export market increasing from 0.4% in
2013 to 2.51% in 2023.
● Solar PV exports rose from $200.8 million in 2013 to $1.83 billion in 2023—a remarkable eightfold
increase.
Ola Electric Expands Network to 4,000 Stores, Launches New Models and Offers
● Ola Electric, India's leading electric vehicle (EV) manufacturer, has achieved a remarkable milestone
by expanding its retail and service network to 4,000 stores nationwide.
● This move represents a fourfold growth in its presence, positioning Ola as a major player in the
Indian EV sector.
Dezerv Plans to Prioritize Risk Management and Double Assets by FY26

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 Important Monthly Current Affairs Capsule – December 2024

● Wealth management startup Dezerv, catering primarily to affluent first-generation wealth creators
such as founders and C-suite executives, has outlined its strategic priorities for 2025, with a strong
focus on risk management amidst global market uncertainties.
● The company also aims to scale its Assets Under Management (AUM) from ₹10,000 crore to
₹25,000 crore by late FY26.
India’s Finished Steel Trade Faces Record Deficit in FY25 (April–November)
● India’s finished steel trade deficit reached ₹26,468 crore during April–November FY25, the highest in
the past five years, as per a Steel Ministry report.
● Imports nearly doubled exports, with import volumes surging while export markets, especially in
Europe, were stressed.
● Net Imports: India imported 6.5 million tonnes (mt) of finished steel, a 26.6% year-on-year (y-o-y)
increase.
● Key Importer: China dominated imports, accounting for one-third of the shipments, with volumes
rising 23% y-o-y to 2 mt.
China's Brahmaputra Mega-Dam Raises Strategic and Environmental Concerns
● China has approved the construction of the world’s largest hydropower dam on the Yarlung Zangbo
River (Brahmaputra) in Tibet, near the Indian border. With an estimated cost of $137 billion, this
ambitious project is poised to surpass the Three Gorges Dam in scale.
India’s Tech Startup Revival in 2024: Funding, Sectors, and Milestones
● India’s tech startups secured $11.3 billion in funding in 2024, marking a recovery from the two-
year ‘funding winter.’
● Global Standing: Ranked as the third-most funded country globally, after the US and the UK.
Funding Overview by Year and Stage
Year Total Funding Late-Stage Funding Early-Stage Funding Seed-Stage Funding
202 $25.4 billion $16.6 billion $6.93 billion $1.87 billion
2
202 $10.7 billion $6.36 billion $3.09 billion $1.25 billion
3
202 $11.3 billion $7.13 billion $3.16 billion $0.97 billion
4
Sectoral Insights
● Top Sectors:

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 Important Monthly Current Affairs Capsule – December 2024

o Retail: Raised $2.6 billion, maintaining its leadership but showing a 13% decline from
2023.
o Gig Economy: Achieved the highest growth, raising $2.2 billion (a staggering 414%
increase compared to 2023).
● Leading Businesses:
Business Area Total Funding (2024)
Online Grocery $1.4 billion
Alternative Lending $929 million
Electric Vehicles $798 million
Horizontal E-Commerce $625 million
Healthcare Platforms $555 million
BPCL's Strategic Refining and Petrochemical Expansion Plans at Andhra Pradesh
● Bharat Petroleum Corporation Ltd. (BPCL) has moved forward with its plans to set up a greenfield
integrated refining and petrochemical complex in Andhra Pradesh, located on India’s southeastern
coast.
● This move is part of BPCL's broader strategy to increase its refining capacity and expand its
petrochemical production capabilities.
EPS subscribers to access pension from any bank starting from January2025
● The Employees' Provident Fund Organisation (EPFO) and the Union Ministry of Labour have
introduced several initiatives to enhance social security, streamline services, and modernize labour
laws.
Adani Green announces new subsidiary Adani Green Energy Sixty Eight Limited to focus on renewable
energy generation
● Adani Green Energy Limited (AGEL), a leader in India’s renewable energy sector, has announced
the establishment of a new wholly owned subsidiary, Adani Green Energy Sixty Eight Limited
(AGE68L), to further its clean energy initiatives.
Indian economy to grow at 6.5-6.8% in FY25 on high consumption: Deloitte
● According to Deloitte India, the Indian economy is expected to grow at 6.5-6.8% in FY2025, driven
by strong domestic consumption, infrastructure development, and digitisation.
● Economic growth is projected to increase further to 6.7-7.3% in FY2026.

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 Important Monthly Current Affairs Capsule – December 2024

● While challenges such as geopolitical tensions, trade disputes, and global liquidity constraints pose
risks to the long-term outlook, India’s resilience in key sectors is likely to mitigate some of these
challenges.

BANKING AND ECONOMY

Unified Payments Interface Dominates the Digital Payments Landscape
• In October,2024, the Unified Payments Interface (UPI) surpassed 10 billion merchant
transactions, showing a 53% year-on-year growth, marking a record peak during the festive
season sales.
• UPI continued to dominate merchant-focused digital payments in India, outpacing cards and
mobile wallets in terms of transaction volume.
• Record Single-Day Transaction: UPI recorded 644 million transactions on October 31 (Diwali),
marking the highest-ever single-day transaction count.
Reserve Bank of India Raises UPI Lite Wallet Limit to ₹5,000, Sets Transaction Cap at ₹1,000
• The Reserve Bank of India (RBI) enhanced the per-transaction and wallet limits for transactions
made on UPI Lite to Rs 1,000 and Rs 5,000, respectively.
• Earlier, the per-transaction limit and wallet limit for transactions made through Unified Payments
Interface (UPI) Lite were set at Rs 500 and Rs 2,000, respectively.
• Objective: The increase in limits aims to encourage the wider adoption of UPI Lite and facilitate
more small-value digital payments in offline mode.
Bajaj Finserv AMC Introduces Bajaj Finserv Healthcare Fund for Long-Term Growth
• Bajaj Finserv AMC has launched the Bajaj Finserv Healthcare Fund, an open-ended equity
scheme aimed at long-term growth.
• The New Fund Offer (NFO) opens for subscription on December 6, 2024, and closes on
December 20, 2024.
• Objective:Designed for wealth creation over a long-term horizon of 5+ years.
• The fund taps into the growing Indian healthcare sector, driven by factors like changing
demographics, rising healthcare spending, and technological innovations.

PB Fintech Board Approves Formation of New Subsidiary for Healthcare Services

• PB Fintech, the parent entity of Policybazaar and Paisabazaar, has received Board approval to
incorporate a wholly owned subsidiary (WOS) for healthcare services.

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 Important Monthly Current Affairs Capsule – December 2024

• The new subsidiary will be named “PB Healthcare Private Limited” or “PB Healthcare Services
Private Limited” or another name approved by the Ministry of Corporate Affairs (MCA).
• Objective of the Subsidiary:The WOS will operate in the healthcare services sector, potentially
bridging the gap between hospitals and insurance companies.

Securities and Exchange Board of India Issues Guidelines for Uniform Nomination Standards in
Securities Markets
• The Securities and Exchange Board of India (SEBI) has notified new rules requiring securities
market participants to offer a nomination option to beneficial owners.
• The rules aim to enhance investor convenience and introduce uniform standards across the
Indian securities market for nomination facilities.
• The new rules, amending the Depositories and Participants Regulations, became effective on
November 28.
About SEBI :
• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

Federal Bank Launches Esteem Savings Account for Senior Citizens with Insurance, Airport Lounge
Access, and Additional Benefits
• Federal Bank has launched Esteem Savings Account, setting a new standard in personalised
banking experiences.
• This premium banking solution reflects Federal Bank’s commitment to providing tailored financial
services for customers aged 55 and above, addressing their diverse needs.
• Complimentary Insurance Cover: The account includes free yearly health check-ups, hospital
cash facility, and doctor-on-call services.
About Federal Bank :
• Headquarters : Aluva, Kerala
• MD & CEO : KVS Manian
• Tagline : Your Perfect Banking Partner

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 Important Monthly Current Affairs Capsule – December 2024

Punjab National Bank, Bank of India hike marginal cost of funds based lending rates
• Punjab National Bank (PNB) has raised its Marginal Cost of Funds Based Lending Rate (MCLR)
by 5 basis points across all tenors, effective December 1, 2024.
• Benchmark One Year MCLR: Increased from 8.95% to 9%.
About PNB :
• Founded : 19 May 1894
• Headquarters : Delhi, India
• MD & CEO : Atul Kumar Goel
About BoI :
• Founded : 7 September 1906
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Rajneesh Karnatak

India and Asian Development Bank Ink $98 Million Loan Agreement to Boost Plant Health in
Horticulture Sector
• The Government of India and the Asian Development Bank (ADB) signed a $98 million loan
agreement.
• Purpose: The loan aims to improve horticulture crop farmers' access to certified disease-free
planting materials, enhancing crop yield, quality, and climate resilience.
• Project Name: The project is part of Building India's Clean Plant Programme (CPP), which is
aligned with the Government of India’s Atmanirbhar Clean Plant Programme.
Reserve Bank of India Allocates ₹3,497 Crore of Green Bond Auction to PDs Amid Low Investor
Demand
• The Reserve Bank of India (RBI) devolved ₹3,497 crore of the Sovereign Green Bond (SGrB)
auction on Primary Dealers (PDs).
• This occurred due to limited investor interest and low bids at the auction.
• Investor Interest:Investors bid for the SGrBs at lower prices, indicating a lack of interest in these
bonds.
• In the August auction, the RBI accepted only ₹1,697 crore out of the ₹6,000 crore initially notified,
indicating low participation.
• Auction Details (Friday's Auction):The notified amount for the recent SGrB auction was ₹5,000
crore.
About RBI :

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 Important Monthly Current Affairs Capsule – December 2024

• Established: 1 April 1935

• Headquarters: Mumbai, Maharashtra, India
• Governor : Shaktikanta Das

Bank Credit Growth to non-banking Financial Companies Slows Significantly to 6.4%: RBI Data
• According to the Reserve Bank of India’s (RBI’s) sectoral deployment of credit data, the growth in
bank credit to non-banking financial companies (NBFCs) declined sharply to 6.4% in October
compared to 18.3% in the year-ago period, dragging down the growth of overall credit to the
services sector.
• Outstanding bank credit to NBFCs:
o October 2024: ₹15.36 trillion
o October 2023: ₹14.44 trillion
o May 2024: ₹15.48 trillion
JP Morgan projects India's GDP growth to recover to 6.7% in the second half, with a full-year estimate
of 6.4%
• According to a report by JP Morgan, India’s economic growth is expected to accelerate to 6.7%
in the second half (H2) of the fiscal year, bringing the full-year 2024-25 GDP growth to 6.4%.
• Q2 GDP Growth: India’s economy grew at 5.4% in the July-September 2024 quarter, marking the
lowest growth rate in seven quarters.
• This growth was below market expectations, attributed to cyclical factors and weaker-than-
expected consumption, investment, and exports.
Bank of India to Issue Additional Rs 5,000 Crore in Infrastructure Bonds
• Bank of India (BoI) plans to raise an additional Rs 5,000 crore through the issuance of
infrastructure bonds.
• Previous Infrastructure Bond Issuances:In November 2024, BoI raised Rs 5,000 crore through a
10-year infrastructure bond with a coupon rate of 7.41%.
• Infrastructure bonds are exempt from regulatory reserve requirements such as the Statutory
Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR), making them particularly attractive for
banks.
• Other public sector banks such as State Bank of India (SBI), Bank of Baroda (BoB), Canara
Bank, Bank of Maharashtra, and Indian Bank have also raised significant amounts through
infrastructure bonds this year.
About BoI :

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 Important Monthly Current Affairs Capsule – December 2024

• Established : 7 September 1906

• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Rajneesh Karnatak

Unified Payments Interface Transactions on RuPay Credit Cards Almost Doubled in the First 7 Months
of FY24-25
• Transactions processed through Unified Payments Interface (UPI) on RuPay credit cards nearly
doubled in the first seven months of FY25 compared to the same period in FY24.
• In FY25, over 750 million transactions worth ₹63,825.8 crore were processed through UPI on
RuPay credit cards.
• RuPay Credit Card Launch:RuPay is India's indigenous payment network, launched in 2012 by
the National Payments Corporation of India (NPCI).
• The merchant discount rate (MDR) and interchange fee on RuPay credit cards linked to UPI
continues to be zero for transactions up to Rs 2,000 for small merchants.

Reserve Bank of India Imposes ₹5 Lakh Monetary Penalty on The Panchkula Central Co-operative
Bank Limited., Haryana
• The Reserve Bank of India (RBI) imposed a monetary penalty of ₹5.00 lakh on The Panchkula
Central Co-operative Bank Limited., Haryana.
• Violation of Banking Regulations:The penalty was for the contravention of provisions under
Section 26A read with Section 56 of the Banking Regulation Act, 1949 (BR Act).
• The RBI exercised its powers under Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the
BR Act to impose the penalty.

All-India House Price Index (HPI) Sees 4.3% Annual Growth in Q2 of FY 2024-25, Up from 3.3% in
Previous Quarter
• The All-India House Price Index (HPI) increased by 4.3% annually in Q2 of FY 2024-25,
compared to 3.3% in the previous quarter and 3.5% in the same quarter of the previous year.
• RBI's Quarterly HPI Release:The RBI released its HPI for the September quarter of 2024-25
based on transaction-level data received from registration authorities in 10 major cities.
• Cities Covered:The cities included in the RBI’s HPI are: Ahmedabad, Bengaluru, Chennai, Delhi,
Jaipur, Kanpur, Kochi, Kolkata, Lucknow, Mumbai.

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 Important Monthly Current Affairs Capsule – December 2024

Warehousing Regulator to Ask Reserve Bank of India for Preferential Treatment of Electronic
Negotiable Warehouse Receipts: Parliamentary Report
• The Warehousing Development and Regulatory Authority (WDRA) is pursuing the Reserve Bank
of India (RBI) for preferential treatment for Electronic Negotiable Warehouse Receipts (eNWRs).
• eNWR is a digital warehousing receipt issued by registered warehouses regulated by WDRA.
• The RBI has enhanced the PSL limit for eNWRs from ₹50 lakh to ₹75 lakh, promoting their use in
the financing of agricultural commodities.

Sa-Dhan and Indian Institute of Banking & Finance Collaborate to Launch Certification Course for
Microfinance Professionals
• Sa-Dhan, a Reserve Bank of India (RBI)- recognised Self-Regulatory Organization (SRO) for
microfinance and impact finance institutions, has partnered with the Indian Institute of Banking &
Finance (IIBF), country's premier institute for administering various courses in the banking sector,
to launch a new certification course for microfinance professionals.
• Objective of the Course: The course aims to train new employees of microfinance institutions and
offer career opportunities for those interested in joining the microfinance industry.
About Indian Institute of Banking & Finance :
• Founded : 1928
• Headquarters : Mumbai, Maharashtra
• CEO : Shri. Biswa Ketan Das

India's Microfinance Sector Hits Rs 4.43 Lakh Crore, Women Make Up 99% of Active Borrowers
• India’s microfinance sector has reached Rs 4.43 lakh crore, with 99% of the 8.67 crore active
borrowers being women.
• Women Borrowers: 8.59 crore women borrowers, with an average loan amount of Rs 37,445.
• Of these loans, 94% are used for income-generating activities, highlighting the critical role of
women in financial inclusion and economic transformation.
• State-wise Distribution: Bihar leads with 15% of the microfinance industry’s loan portfolio,
followed by Tamil Nadu, Uttar Pradesh, Karnataka, and West Bengal.
HDFC Life Insurance Company Reports Customer Data Breach, Initiates Investigation
• HDFC Life Insurance Company reported a customer data theft and initiated an investigation to
assess the potential impact.

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 Important Monthly Current Affairs Capsule – December 2024

• A detailed investigation is being conducted with the help of information security experts after the
company received communication from an unknown source regarding the data theft.
• The data theft incident occurred following a statement from the Insurance Regulatory and
Development Authority of India (IRDAI), which addressed reports of data leaks from two insurers,
including Star Health and Allied Insurance.
About HDFC Life Insurance Company :
• Founded : 2000
• Headquarters : Mumbai, Maharashtra
• MD & CEO : Vibha Padalkar
• The company is a joint venture between Housing Development Finance Corporation Ltd (HDFC),
one of India's leading housing finance institutions and Abrdn, a global investment company.

Foreign banks expect the Reserve Bank of India to maintain policy rates due to slow Q2 GDP growth
• Foreign banks expect the Reserve Bank of India (RBI) to maintain the policy rate at 6.5% during
the December 4-6 Monetary Policy Committee (MPC) meeting, despite the slowdown in Q2 GDP
growth.
• Q2 GDP Growth: India's GDP growth for Q2 (July-September 2024) slowed to 5.4%, the lowest
in seven quarters, falling below RBI's forecast of 7% and market consensus.
• Gross Value Added (GVA) growth also slowed to 5.6% in Q2 from 6.8% in Q1 (April-June 2024).
Reserve Bank of India Removes Loan Disbursement Restrictions on Sachin Bansal’s Navi Finserv
• The Reserve Bank of India (RBI) lifted restrictions on Navi Finserv concerning the sanction and
disbursal of loans, effective immediately.
• Navi Finserv was previously prohibited from sanctioning and disbursing loans since October 17,
2024, due to issues related to its pricing policy, specifically the Weighted Average Lending Rate
(WALR) and excessive interest spread charged over its cost of funds.
• Reasons for Restrictions:The restrictions were imposed due to material supervisory concerns
over Navi Finserv's loan pricing practices, which were deemed excessive and not in compliance
with regulatory guidelines.
About Navi Finserv :
• Navi Finserv was founded in 2018 by Sachin Bansal and Ankit Agarwal.
• It operates as an RBI-registered NBFC in the middle layer category and offers personal and
home loans.

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 Important Monthly Current Affairs Capsule – December 2024

• The company has become a major player in the UPI ecosystem, ranking as the 4th-largest UPI
player by volume in October 2024, surpassing CRED.

Finance Ministry Reports India's $2 Billion Contribution to BRICS Bank

• India has contributed nearly $2 billion to the BRICS New Development Bank (NDB).
• The contribution was paid in seven instalments from the fiscal year 2015-16 to 2021-22.
• Ongoing Externally Aided Projects:20 externally aided projects are currently underway in India,
funded by the NDB, with a total loan amount of $4,867 million.
• These projects focus on sectors such as transportation, water conservation, food management,
and connectivity in rural areas.

Microfinance Industry Network Tightens Loan Underwriting Standards Amid Increased Stress in
Microloan Sector
• The Microfinance Industry Network (MFIN), an RBI-recognized self-regulatory organization
(SRO), has further tightened the loan underwriting standards due to rising stress in the microloan
sector.
• Loan Limit for Borrowers:Microfinance clients can now take loans from only three MFIs
(Microfinance Institutions), reduced from the earlier limit of four.
• Indebtedness Limit:The total indebtedness of a microfinance borrower is capped at ₹2 lakh,
which includes both microfinance loans and unsecured retail loans.
• Non-Performing Asset (NPA) Guidelines:MFIs cannot lend to borrowers who are NPAs (non-
performing assets) with overdue loans greater than ₹3,000 and a default period of over 90 days.

PhonePe Ends Partnership with Juspay, Opts for Direct Integration with Merchants
• PhonePe, a Walmart-backed digital payments platform, has ended its partnership with Juspay, a
payment orchestration platform, and decided to integrate with merchants directly.
• BharatPe received the RBI payment aggregator license in January 2023.
• Google Pay received the license in December 2023.
• Amazon Pay received the license in 2024.
• RBI cancelled Paytm’s license in November 2022, but Paytm plans to re-apply.
• PhonePe received the payment aggregator license in March 2023.
About PhonePe :
• Founded : 2015

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 Important Monthly Current Affairs Capsule – December 2024

• Headquarters : Bangalore, Karnataka

• CEO : Sameer Nigam

Muthoot Microfin Begins Co-Lending Loan Disbursals in Partnership with State Bank of India
• Muthoot Microfin, a Kochi-based microfinance institution, has started loan disbursements under
its co-lending partnership with the State Bank of India (SBI).
• Loan Limit:SBI has sanctioned a total limit of ₹500 crore for this partnership, to be disbursed in
tranches of ₹100 crore.
• Loan Amounts and Target Audience:Loans ranging from ₹50,000 to ₹3 lakh will be provided to
identified and eligible customers.
About Muthoot Microfin :
• Founded : 2010
• Headquarters : Kochi , Kerala
• CEO : Sadaf Sayeed

South Indian Bank Inaugurates Second Mega Currency Chest in Kakkanad

• South Indian Bank has expanded its banking infrastructure by opening its second mega currency
chest at Kakkanad, near Kochi, making it its sixth currency chest in total.
• Inauguration Ceremony:The facility was inaugurated by Thomas Mathew, Regional Director
(Kerala & Lakshadweep), Reserve Bank of India (RBI), Thiruvananthapuram.
About South Indian Bank :
• Founded : 1929
• Headquarters : Thrissur, Kerala, India.
• Chairman : V J Kurian
• MD & CEO : P R Seshadri

State Bank of India Introduces Affordable Customized Vehicle Loan for Uber Fleet Partners
• The State Bank of India (SBI) has introduced a customized vehicle loan product exclusively for
Uber’s fleet partners.
• Loan Features:The product offers low-cost, tailored financing solutions and ensures hassle-free
loan disbursement to fleet partners.
• SBI's Auto Loan Market Share:SBI holds a 19.2% market share in auto loans across India,
reinforcing its leadership in vehicle financing.

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 Important Monthly Current Affairs Capsule – December 2024

About SBI :
• Established : 1 July 1955
• Headquarters : Mumbai, Maharashtra
• Chairman : Challa Sreenivasulu Setty

Newgen Software Secures ₹32 Crore Reserve Bank of India Contract for Regulatory Application
Management System Implementation
• Newgen Software Technologies Limited has received a purchase order worth ₹32.44 crore from
the Reserve Bank of India (RBI) for implementing and maintaining the Regulatory Application
Management System (RAMS).
• The total value of the order is ₹32.44 crore, which includes 18% GST.
• The order is to be executed over a period of seven years.
• The order is subject to acceptance of all terms and conditions outlined in the Request for
Proposal (RFP) and the purchase order by Newgen Software Technologies.
Reserve Bank of India Keeps Repo Rate Unchanged at 6.5% for 11th Consecutive Time
• The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) decided to keep the repo
rate unchanged at 6.5% for the 11th consecutive time since February 2023.
• The decision was made during the meeting held between December 4-6,2024 with the vote split
4:2.
• Focus on Inflation Control and Economic Growth: Despite calls for a rate cut, the RBI is focused
on balancing inflation control with economic growth. Governor
About RBI :
• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
Chief Economic Advisor V. Anantha Nageswaran maintains GDP growth target of 6.5-7% for FY25
despite Q2 slowdown
• The Finance Ministry has reaffirmed its GDP growth forecast for 2024-25 at 6.5-7%, despite a
slowdown in Q2 growth to 5.4%.
• The Q2 GDP growth of 5.4% was the first estimate, and the Chief Economic Advisor (CEA), V.
Anantha Nageswaran, indicated that this number could be revised upwards.
• Impact on RBI's GDP Growth Projection:The Reserve Bank of India (RBI) is expected to reduce
its GDP growth forecast for FY25 from 7.2%, given the recent Q2 slowdown.

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 Important Monthly Current Affairs Capsule – December 2024

Government of India and Asian Development Bank Sign $50 Million Loan for Climate-Resilient Water
Harvesting Project in Meghalaya
• The Government of India and Asian Development Bank (ADB) signed a $50 million loan to
improve water security and reduce climate change impacts in Meghalaya through water-
harvesting systems.
• The project is part of the Climate-Adaptative Community-Based Water-Harvesting Project aimed
at constructing water-harvesting systems, improving water access, and reducing community
vulnerability.
• Alignment with State Water Policy: The project aligns with Meghalaya State Water Policy
(MSWP) 2019, focusing on sustainable water resource management and a participatory
approach.
About ADB :
• Established : 1966
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa

Securities and Exchange Board of India clarifies that digital platforms do not need to acquire Specified
Digital Platforms status
• Market regulator Securities and Exchange Board of India (SEBI) clarified that digital platforms
used by registered or regulated entities to associate with third parties are not obligated to seek
recognition as Specified Digital Platforms (SDPs).
• Voluntary Registration: Digital platforms can voluntarily choose to get recognized as an SDP.

Securities and Exchange Board of India Imposes ₹9 Lakh Fine on Reliance Securities for Market Norm
Violations
• Securities and Exchange Board of India (SEBI) imposed a ₹9 lakh fine on Reliance Securities for
breaching market norms and stock broker rules.
• Inspection by Sebi and Exchanges: The penalty followed a thematic onsite inspection conducted
by Sebi, along with exchanges (NSE and BSE), of the books of accounts, records, and other
documents of Reliance Securities' authorized persons (APs).

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 Important Monthly Current Affairs Capsule – December 2024

• Inspection Period: The inspection covered the period from April 2022 to December 2023 to verify
compliance with stock broker rules, NSEIL Capital Market regulations, and NSE Future & Options
trading norms.

World Bank sanctions $188 million loan to Maharashtra for growth in underdeveloped districts
• The World Bank approved a $188.28 million loan for Maharashtra aimed at boosting economic
growth, focusing on underdeveloped districts.
• The program aims to enhance district-level planning and development strategies by providing
critical resources such as data, funding, and expertise to promote efficient economic expansion
and job creation.
• Loan Details: The loan is provided by the International Bank for Reconstruction and Development
(IBRD) with a 15-year maturity period, including a five-year grace period.
About World Bank :
• Established : July 7, 1944
• Headquarters : Washington, D.C., United States
• President : Ajay Banga
• World Bank’s Country Director for India : Auguste Tano Kouamé

Reserve Bank of India to launch new benchmark Secured Overnight Rupee Rate based on secured
money market rates
• The Reserve Bank of India (RBI) has proposed the introduction of a new benchmark for the
interest rate derivatives market based on secured money markets.
• This benchmark will be known as the Secured Overnight Rupee Rate (SORR).
• Rationale and Background:The proposal follows recommendations from the MIBOR Committee
and feedback received.
• The new benchmark will be developed with the support of Financial Benchmarks India Limited
(FBIL).

Reserve Bank of India Launches Podcast to Broaden Distribution of Valuable Information

• The Reserve Bank of India (RBI) is launching podcasts to expand its communication efforts and
improve the dissemination of information to the public.

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 Important Monthly Current Affairs Capsule – December 2024

• The move is part of the RBI’s ongoing efforts to enhance transparency and better connect with
the people, following the expansion of its communication toolkit, including the use of social
media.
• Purpose of Podcasts:The podcasts will help the RBI explain complex topics in a simple manner,
reaching a wider audience and enhancing public awareness about its decisions and actions.

SBI Card Achieves Milestone of 20 Million Credit Cards in Circulation

• SBI Card surpassed 20 million credit cards in circulation, marking a significant achievement in its
credit card business, which started in 1998.
• Between FY19 and FY24, SBI Card experienced a growth rate of around 25% CAGR
(Compound Annual Growth Rate) in the number of cards in force and a 26% CAGR in spends.
• SBI Card is the second-largest credit card issuer in India, following HDFC Bank.
• As of January 2024, HDFC Bank had also achieved the milestone of 20 million cards in
circulation, with 22.64 million cards in October 2024.
About SBI Cards & Payment Services Limited :
• Founded : May 1998
• Headquarters : Gurugram, Haryana
• MD & CEO : Abhijit Chakravorty

Reserve Bank of India Increases India's Gold Reserves by 27 Tonnes in October 2024: World Gold
Council Report
• As per World Gold Council (WGC) data, Central bank gold buying surged to 60 tonnes in October
2024, with the Reserve Bank of India (RBI) leading the increase by adding 27 tonnes to its
reserves.
• India’s Gold Purchases: From January to October 2024, India purchased a total of 77 tonnes of
gold.
• This is a five-fold increase compared to the same period in 2023.

Employment in India Rises to 64.33 Crore in 2023-24, Up from 47.5 Crore in 2017-18: KLEMS Data
• The KLEMS (K: Capital, L: Labour, E: Energy, M: Materials and S: Services) database published
by the Reserve Bank of India (RBI), provides employment estimates for both the public and
private sectors at the national level.

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 Important Monthly Current Affairs Capsule – December 2024

• Employment Growth (2017-18 to 2023-24): Employment in India increased from 47.5 crore in
2017-18 to 64.33 crore in 2023-24, marking an increase of 16.83 crore during this period.
• EPFO Payroll Data:The Employees' Provident Fund Organization (EPFO) Payroll Data provides
insights into employment levels in the formal sector.
Foreign direct investment Inflows to India Exceed $1 Trillion, Overseas Investment Expected to Rise in
FY25
• India’s Foreign Direct Investment (FDI) inflows crossed the $1 trillion mark from April 2000 to
September 2024, solidifying its status as a key global investment destination.
• FDI plays a crucial role in infrastructure development, maintaining the balance of payments, and
stabilizing the value of the rupee.
• It is also vital for boosting economic growth.

Reserve Bank of India Governor Shaktikanta Das Holds Meeting with Finance Minister Sitharaman
Ahead of His Extended Term's Conclusion
• Shaktikanta Das, the Governor of the Reserve Bank of India (RBI), met Finance Minister Nirmala
Sitharaman on December 9, 2024, following the presentation of the bi-monthly monetary policy
on December 8, 2024.
• Das's three-year extended term as RBI Governor ends on December 10, 2024.
• The three-year extension was announced in 2021, a month before his original tenure was set to
conclude.
• Shaktikanta Das was appointed as the 25th RBI Governor on December 12, 2018, after the
sudden resignation of Urjit Patel.
• With the extension, Das has become one of the longest-serving RBI Governors in the institution's
90-year history.
About RBI :
• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das

Insurance Regulatory and Development Authority of India and DFS Back Proposal to Reduce GST on
Senior Citizen Health Policies, Micro-Insurance, and Term Insurance

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 Important Monthly Current Affairs Capsule – December 2024

• A proposal to rationalize GST on insurance premiums is gaining support from the Financial
Services Department and Insurance Regulatory and Development Authority of India (IRDAI)
ahead of the GST Council meeting on December 21 in Rajasthan.
• Proposed Changes:Group of Ministers (GoM) recommended exempting premiums for health
insurance for senior citizens, health insurance policies covering ₹5 lakh, and term life insurance.
• Other policies: GoM suggests retaining current GST rates for all other insurance policies.
About IRDAI :
• Established : 1999
• Headquarters : Hyderabad, Telangana
• Chairperson : Debasish Panda
• The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government
of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance
industries in India.

Axis Bank Launches 'ARISE Women's Savings Account' to Address Women's Financial Needs and
Healthcare Benefits
• Axis Bank, a private sector bank in India, launched the 'ARISE Women's Savings Account',
aimed at addressing the financial needs of women.
• The account provides healthcare benefits alongside a comprehensive financial solution tailored
for women.
• Account Features:Dedicated Financial Experts: Account holders gain access to expert financial
advisors.
About Axis Bank :
• Established : 1993
• Headquarters: Mumbai, Maharashtra, India
• MD & CEO: Amitabh Chaudhry
• Tagline : Badhti Ka Naam Zindagi ("Progress is the Name of Life")

Non-Banking Finance Companies Turn to External Commercial Borrowing Route for Fundraising as
Banks Restrict Loan Disbursements
• Top-rated private and government-owned non-banking finance companies (NBFCs) are
increasingly turning to external commercial borrowings (ECBs) to raise funds due to lower
borrowing costs compared to domestic bank loans.

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 Important Monthly Current Affairs Capsule – December 2024

• ECBs refer to the borrowing of funds by Indian companies from foreign sources such as loans,
bonds, or other financial instruments.
• Purpose:Used for various purposes like business expansion, asset acquisition, and repayment of
existing debt.
• Governed under RBI's Master Direction on ECBs, Trade Credits, and Structured Obligations, as
well as under the Foreign Exchange Management Act, 1999 (FEMA).

Federal Bank Launches "Kaliyum Karyavum" to Teach Life Skills to School Children Through Traditional
Art Forms
• The Federal Bank launched an initiative called "Kaliyum Karyavum" to teach life skills to school
children through traditional art forms.
• Objective of the Initiative:The event aims to educate children on essential life skills such as
financial literacy, time management, and healthy digital screen usage habits.
• It uses captivating traditional art forms as a medium to engage students in these lessons.
About Federal Bank :
• Headquarters : Aluva, Kochi, Kerala, India
• MD & CEO : KVS Manian
• Tagline : Your Perfect Banking Partner

IDFC FIRST Bank Enhances Customer Experience with India’s First AI-Powered Interactive Avatar of
Brand Ambassador Amitabh Bachchan
• IDFC FIRST Bank has introduced India's first AI-powered holographic digital avatar of legendary
actor Amitabh Bachchan.
• The avatar is powered by a Holographic Extended Reality (HXR) device, which features touch
capability, allowing users to interact directly with the digital version of Amitabh Bachchan.
• Currently, customers can engage with Amitabh Bachchan’s digital avatar and get information on
bank products and services, including Zero Fee Banking, Monthly Interest Credits, Mobile
Banking, and the innovative Current Account BRAVO.
About IDFC FIRST Bank :
• Founded : October 2015
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : V. Vaidyanathan

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 Important Monthly Current Affairs Capsule – December 2024

BharatPe Launches 'Shield', a Comprehensive Fraud Protection Plan for Digital UPI Transactions
• BharatPe, a rapidly growing UPI payment service in India, has introduced 'Shield', a
comprehensive fraud protection plan aimed at safeguarding digital UPI transactions.
• The service is designed to offer secure and worry-free payment experiences for users.
• Coverage and Support:BharatPe Shield provides robust coverage against digital fraud and
seamless support for users.
About BharatPe :
• Founded : 2018
• Headquarters : New Delhi, India
• CEO : Nalin Negi

Bank of Baroda Unveils Loan Scheme for Women MSMEs and Overdraft Facility for Working Capital
Needs
• Bank of Baroda introduced two initiatives aimed at enhancing lending to Micro, Small, and
Medium Enterprises (MSMEs):
• Baroda Mahila Swavalamban: A loan scheme for women-led MSMEs.
• Baroda Smart OD: A digital overdraft facility offering short-term working capital finance for GST-
registered MSMEs.
• Loan Limit: The scheme offers loans ranging from Rs 20 lakh to Rs 7.5 crore.
HSBC India unveils Prive premium credit card for private banking customers
• HSBC India, in collaboration with Mastercard, launched an invitation-only premium credit card for
its private banking clients.
• The card is designed for high-net-worth individuals (HNWI) and ultra-high-net-worth individuals
(UHNWI) with investable assets worth over $2 million.
• Travel Benefits: Includes companion first or business class airline tickets, premium airport lounge
access, travel insurance, visa services, and zero forex mark-up on international spends.
About HSBC India :
• Founded : 1853
• Headquarters : Mumbai, Maharashtra
• CEO : Hitendra Dave

Deutsche Bank India Grants €91 Million Sustainability-Linked Loan to SMFG India Credit

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 Important Monthly Current Affairs Capsule – December 2024

• Deutsche Bank India provided a €91 million (₹814 crore) sustainability-linked loan to SMFG India
Credit (SMICC), a wholly-owned subsidiary of Sumitomo Mitsui Financial Group (SMFG).
• The loan is a senior secured loan with a tenure of three years, in line with Deutsche Bank’s
Sustainable Finance framework criteria.
• The loan aims to expand SMICC’s portfolio, channel funds toward Micro, Small, and Medium
Enterprises (MSMEs), and support women entrepreneurs in underserved segments across India.
Public Sector Banks GNPA Drops Sharply from 14.58% in Mar-18 to 3.12% in Sep-24
• The Government has been proactively supporting the banking ecosystem and taking care of both
business and employee welfare to maintain stability, transparency, and growth.
• Over the past decade, multiple citizen-and-staff-centric reformative initiatives have been taken by
the Government in this direction.

Finance Ministry requests approval for over ₹44,000 crore additional expenditure in FY25, no major
impact on fiscal deficit expected
• The Finance Ministry seeks approval for over ₹44,000 crore in additional cash expenditure
through the first Supplementary Demands for Grants (SDG).
• Total Additional Expenditure: The gross additional expenditure proposed amounts to ₹87,762.56
crore, of which ₹44,142.87 crore is net cash outgo, and ₹43,618.43 crore is matched by savings
or increased receipts from various Ministries.
About Ministry of Finance :
• Cabinet Minister : Nirmala Sitharaman
• Minister of State : Pankaj Choudhary

Asian Development Bank Sanctions $500 Million to Boost India’s Environmentally Sustainable
Infrastructure
• The Asian Development Bank (ADB) approved a $500 million loan to support India’s economic
growth by promoting environmentally sustainable infrastructure projects.
• The loan will be provided to India Infrastructure Finance Company Limited (IIFCL) for funding
infrastructure projects.
• The loan will be used for projects focusing on connectivity, energy transition, and under-
resourced sectors such as urban development, education, and healthcare.
About ADB :
• Established : 1966

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 Important Monthly Current Affairs Capsule – December 2024

• Headquarters : Manila, Philippines

• President : Masatsugu Asakawa

State Bank of India Joins Record Samurai Loan Surge with ¥30 Billion Debt Plan
• State Bank of India (SBI) is seeking a ¥30 billion ($197 million) loan facility, marking its
involvement in a record volume of yen loans raised by Asian borrowers excluding Japan in 2024.
• Loan Details:
• Loan Amount: ¥30 billion (approximately $197 million).
• Tenure: 5 years.
About SBI :
• Founded : 1 July 1955
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Challa Sreenivasulu Setty

World Bank Chief Economist Gill Urges India to Accelerate Structural Reforms
• India is better positioned than many of its peers to handle global challenges but needs to
accelerate structural reforms.
• World Bank Chief Economist Indermit Gill stressed that India must speed up necessary structural
changes to address inefficiencies and improve institutional resilience.
About World Bank :
• Established : July 7, 1944
• Headquarters : Washington, D.C., United States
• President : Ajay Banga

Axis Asset Management Company Opens New Branch in GIFT City

• Axis Asset Management Company (Axis AMC) has opened a new branch in the Gujarat
International Finance Tec-City (GIFT City), marking a significant step in its global strategy.
• Purpose of the Branch: The new branch will serve as an offshore hub for global investors,
providing investment solutions for both foreign investors looking to invest in India and Indian
investors seeking global solutions.
Public Sector Banks write off ₹42,000 crore in loans during H1 FY25
• Public Sector Banks (PSBs) wrote off loans worth ₹42,035 crore in the first half of FY25 (April-
September).

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 Important Monthly Current Affairs Capsule – December 2024

• Major Contributors:
• State Bank of India (SBI): ₹8,312 crore
• Punjab National Bank (PNB): ₹8,061 crore
• Union Bank of India: ₹6,344 crore
• Bank of Baroda: ₹5,925 crore

Reserve Bank of India to Use Artificial intelligence to Detect and Combat Mule Accounts
• The Reserve Bank of India (RBI) is rolling out an Artificial intelligence (AI) and machine learning
(ML) based model called MuleHunter.
• AI to detect mule bank accounts used in financial frauds.
• A pilot of this initiative with two large public sector banks has yielded encouraging results,
demonstrating the model's effectiveness.
• Encouragement for Collaboration: The RBI encourages banks to collaborate with the Reserve
Bank Innovation Hub (RBIH) to further develop the MuleHunter.AI initiative to address mule
accounts.
Axis Bank forecasts India's Gross domestic product growth to reach 7% in FY26
• Axis Bank predicts India's Gross domestic product (GDP) growth will rise to 7% in FY26.
• Current Fiscal Year Outlook (FY25):The bank expects GDP growth in FY25 to be 6.6%.
• Average CPI inflation is projected to ease to 4.5% in the next fiscal (FY26), down from 4.8% in
FY25.
About Axis Bank :
• Founded : 3 December 1993
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Amitabh Chaudhry

Asian Development Bank Revises India’s GDP Growth Forecast for FY2024-25 to 6.5%, Down from 7%
• The Asian Development Bank (ADB) has revised India’s GDP growth forecast for FY2024-25 to
6.5%, a reduction of 50 basis points from the previous projection of 7%.
• The new forecast is lower than the RBI's estimate of 6.6% and at the lowest end of the
government's projected range of 6.5%-7%.
• Reasons for Downward Revision:The downward revision is attributed to lower-than-expected
growth in private investment and housing demand.
About ADB :

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 Important Monthly Current Affairs Capsule – December 2024

• Established : 1966
• Headquarters : Manila, Philippines
• President : Masatsugu Asakawa

Life Insurance Corporation of India Aims for At Least 5 Times the Business Measured by Stipend Paid
to a 'Bima Sakhi'
• The Life Insurance Corporation of India (LIC) expects a minimum of five times the business
(measured by stipend paid to a 'Bima Sakhi') through this initiative aimed at empowering women
by training them as insurance agents.
• The scheme aims to enroll at least 1 lakh women by December 2025, with a total target of 2 lakh
women over three years.
• Funding for the Scheme:₹840 crore has been allocated for the first year of the scheme.
About LIC :
• Founded : 1 September 1956
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Siddhartha Mohanty

MobiKwik Lowers IPO Size to ₹572 Crore Amid Market Volatility and Regulatory Scrutiny
• MobiKwik has reduced its Initial Public Offering (IPO) size from ₹700 crore to ₹572 crore due to
volatile market conditions and increased regulatory scrutiny of fintech players.
• IPO Price Band:The IPO price band is set at ₹265-279 per share.
• Subscription Period:The IPO will open for subscription on December 11, 2024, and close on
December 13, 2024.
About MobiKwik :
• Founded : April 2009
• Headquarters : Gurgaon, Haryana, India
• Founders : Bipin Preet Singh & Upasana Taku.

World Bank to Support Kerala Farmers in Adapting to Climate Change

• The World Bank has approved a $200 million project to help Kerala farmers adapt to climate
change and promote agri-entrepreneurship.
• The project is called the Kerala Climate Resilient AgriValue Chain Modernization (KERA) Project.
• The project will benefit approximately 400,000 farmers in Kerala.

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 Important Monthly Current Affairs Capsule – December 2024

About World Bank :

• Established : July 7, 1944
• Headquarters : Washington, D.C., United States
• President : Ajay Banga

Karnataka Bank unveils ‘Retail Assets Centre’ in Bengaluru

• Karnataka Bank has launched its first 'Retail Assets Centre' (RAC) in JP Nagara, Bengaluru, to
streamline the bank's retail loan processing.
• The RAC serves as a centralized hub for various retail loan processes, including:Business
coordination, Credit underwriting, Credit sanctions, Credit operations, Disbursements, Post-
disbursement services
• Objective: The RAC is aimed at catering to the growing demand for retail loan products and
improving operational efficiency.
About Karnataka Bank :
• Founded : 18 February 1924
• Headquarters : Mangalore, Karnataka, India
• MD & CEO : Srikrishnan Hari Hara Sarma
• Tagline : Your Family Bank Across India
Reserve Bank of India Survey Lowers FY25 GDP Growth Projection to 6.8%, Forecasts Inflation at
4.8%
• The Real GDP growth for FY25 has been revised downward to 6.80% in the latest round of the
RBI’s Survey of Professional Forecasters (SPF) on Macroeconomic Indicators, down from 6.90%
in the previous round.
• The SPF panellists lowered their FY26 real GDP growth expectations to 6.6%, down from 6.7%
in the previous round (October).
• They placed GDP growth forecasts in the range of 6.1-7.7% for FY25 and in the range of 6.0-
7.2% for FY26.
Reserve Bank of India Injects ₹1.16 Lakh Crore Liquidity into Banks with 50 Bps Cash Reserve Ratio
Cut
• The Reserve Bank of India (RBI) has announced a 50 basis points cut in the Cash Reserve Ratio
(CRR), reducing it from 4.5% to 4% of banks' deposits.
• This decision aims to address liquidity tightness in the banking system.
• Implementation Dates: The CRR cut will be implemented in two tranches:

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 Important Monthly Current Affairs Capsule – December 2024

• 25 basis points from the fortnight beginning December 14, 2024

Reserve Bank of India Increases Collateral-Free Agricultural Loan Limit to ₹2 Lakh per Borrower
• The Reserve Bank of India (RBI) has raised the limit for collateral-free agriculture loans from ₹1.6
lakh to ₹2 lakh per borrower.
• Objective:The revision aims to enhance the coverage of small and marginal farmers in the formal
credit system.
• The limit was previously increased from ₹1 lakh to ₹1.6 lakh in 2019.
• Banks are required to implement the revised loan limits by January 1, 2025.
• The new limit applies to all Scheduled Commercial Banks (including Regional Rural Banks and
Small Finance Banks), State Co-operative Banks, and District Central Co-operative Banks.

Reserve Bank of India Permits Small Finance Banks to Provide Pre-Sanctioned Credit Lines on Unified
Payments Interface
• The Reserve Bank of India (RBI) has permitted small finance banks (SFBs) to offer pre-
sanctioned credit lines through Unified Payments Interface (UPI), expanding the scope beyond
scheduled commercial banks, which were previously the only entities allowed to do so.
• Objective: The move aims to deepen financial inclusion and enhance formal credit access,
particularly for customers who are 'new to credit', promoting financial inclusion.

Reserve Bank of India to Form Committee for Developing Ethical AI Framework in Financial Services
• The Reserve Bank of India (RBI) has proposed the formation of a committee to develop a
Framework for Responsible and Ethical Enablement of AI (FREE-AI) in the financial sector.
• Committee Composition: The committee will consist of experts from various fields, and its role
will be to recommend a comprehensive, adaptable, and robust AI framework tailored to the
needs and challenges of the financial sector.

Reserve Bank of India instructs banks to swiftly close inoperative or frozen accounts
• The Reserve Bank of India (RBI) has instructed banks to urgently take necessary actions to
reduce the number of inoperative/frozen accounts and ensure that the process of activating such
accounts is made smoother and hassle-free.
• Reporting Requirements: Banks are required to report the activation of inoperative accounts on a
quarterly basis to their respective Senior Supervisory Manager (SSM) via the DAKSH portal

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 Important Monthly Current Affairs Capsule – December 2024

(RBI's Advanced Supervisory Monitoring System), starting from the quarter ending December 31,
2024.
All India Bank Employees’ Association proposes a 3-year ban on account openings for customers who
assault bank branch staff
• The All India Bank Employees’ Association (AIBEA) has urged the Indian Banks’ Association
(IBA) to blacklist customers who attack or abuse bank staff, closing their accounts and preventing
them from opening new accounts for at least 3 years.
• AIBEA expressed concern over recent incidents where bank staff were physically assaulted and
verbally abused by customers.
About AIBEA :
• Founded : 20 April 1946
• Headquarters : Chennai, Tamil Nadu
• President : Rajen Nagar

S&P Global Maintains FY25 Growth Projection at 6.8%

• S&P Global retained India’s GDP growth forecast for FY24-25 at 6.8%, despite the RBI’s
reduction to 6.6%.
• India’s economy grew by 8.2% in FY 2023-24.
• GDP growth slowed to 5.4% in Q2 (July-September) of FY24, prompting a revision of growth
projections by various agencies.
• The Indian government remains hopeful for improved growth for the full fiscal year, dismissing
Q2 growth as a one-off occurrence.

Public Sector Banks Write Off ₹7 Lakh Crore Between FY20 and FY25
• Public sector banks (PSBs) wrote off approximately ₹7 lakh crore between FY2019-20 and
FY2024-25 (till September) , the Finance Ministry has informed the Rajya Sabha.
• During the same period, PSBs recovered over ₹5 lakh crore of their non-performing assets
(NPAs).
• PSBs write off NPAs as per the Reserve Bank of India (RBI) guidelines and their own boards'
approval, including those with full provisioning completed after four years.

Securities and Exchange Board of India Extends T+0 Settlement Cycle to Top 500 Stocks

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 Important Monthly Current Affairs Capsule – December 2024

• The Securities and Exchange Board of India (SEBI) has announced the expansion of the optional
T+0 settlement cycle to the top 500 stocks by market capitalization, starting from December 31,
2024.
• The phase-wise implementation will begin with the bottom 100 stocks and include an additional
100 stocks every month until the top 500 stocks are available.
• The expanded T+0 settlement cycle will be applicable from January 31, 2025.
About SEBI :
• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

Reserve Bank of India raises rate caps on Foreign Currency Non-Resident Bank deposits to boost
foreign inflows
• The Reserve Bank of India (RBI) has increased the interest rate ceilings on Foreign Currency
Non-Resident Bank (FCNR(B)) deposits to attract more foreign investment.
• FCNR Deposits Definition: FCNR(B) deposits are term deposits in foreign currency that can be
opened by non-resident Indians (NRIs) with banks in India.
• These deposits are a popular investment option for NRIs as they offer a safe and secure way to
invest their money in India as they get back deposits in foreign currency when they mature.

Reserve Bank of India Unveils Statement on Developmental and Regulatory Policies with Focus on Key
Financial Sectors
• The Statement on Developmental and Regulatory Policies issued by the Reserve Bank of India
(RBI).
• Launch of 'Connect 2 Regulate' Program: As part of its RBI@90 commemorative events, the RBI
plans to launch a new program called 'Connect 2 Regulate'.
• This initiative aims to foster more direct engagement between the RBI and its stakeholders.

Some ATMs to retract cash to combat fake shutter overlay fraud

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 Important Monthly Current Affairs Capsule – December 2024

• The Reserve Bank of India (RBI) has partially reversed its decision to disable the cash retraction
facility in ATMs, which was initially done in January 2012 due to fraud concerns.
• Cash Retraction Facility: This feature allows ATMs to retract cash if the customer fails to collect it
within a set time, ensuring that the notes are returned to the machine.
Number of ATMs in India Declines for the First Time in Five Years Across All Regions
• For the first time since at least five years, the number of ATMs in the country has fallen with a
decrease seen across all segments - metro cities, urban and semi-urban centres as well as rural
areas.
• RBI data shared in Parliament showed that at the end of Sept 2024, the number of ATMs in the
country was pegged at 2,55,078, as against 2,57,940 a year ago, a decline of just above 1%.

Reserve Bank of India sets 7.59% interest rate for Floating Rate Bond 2031
• The rate of interest on Government of India Floating Rate Bond 2031 (FRB 2031) applicable for
the half year December 07, 2024 to June 06, 2025 shall be 7.59% per annum.
• The RBI Floating Rate Savings Bonds are a type of government bond that offers a floating
interest rate.
• RBI Floating Rate Savings Bonds have a seven-year lock-in period.

PhonePe introduces dengue and malaria insurance plan at an annual premium of ₹59
• PhonePe launched a Dengue and Malaria Insurance Plan starting at ₹59 per year on its platform.
• Coverage: The plan offers comprehensive coverage of up to ₹1 lakh for medical expenses
related to vector-borne and air-borne diseases, including Dengue and Malaria.

Reserve Bank of India to Integrate FX-Retail Platform with National Payments Corporation of India
Bharat Connect to Broaden Accessibility and Improve User Experience
• The Reserve Bank of India (RBI) has proposed to link the FX-Retail platform with the Bharat
Connect platform of the National Payments Corporation of India (NPCI).
• Objective: The integration aims to enhance transparency and fairness in foreign exchange
pricing, particularly for individuals and Micro, Small, and Medium Enterprises (MSMEs).
• FX-Retail Platform: Launched in 2019 by the Clearing Corporation of India Limited (CCIL), the
FX-Retail platform provides an internet-based application for buying and selling foreign
exchange.

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 Important Monthly Current Affairs Capsule – December 2024

CARE Ratings Lowers India's FY25 Gross Domestic Product Growth Forecast to 6.5%
● CARE Ratings revised India's gross domestic product (GDP) growth forecast for FY25 to 6.5%
from the earlier estimate of 6.8%.
● This revision is attributed to:
➔ Contraction in corporate profitability.
➔ Decline in public capital expenditure (capex) in the first half of FY25.
➔ Weak urban consumption demand.
● Projected GDP Growth for FY26:The economy is expected to grow at 6.7% in FY26.
● FY25 inflation is expected to remain at 4.8%.
● CARE Ratings anticipates a 50-75 basis points rate cut in 2025.
● Government Finances:Weak corporate tax collections will be offset by healthy income tax
collections.
● The government’s capital expenditure (capex) is expected to fall short by ₹1.5 trillion.
Reserve Bank of India Grants In-Solutions Global Approval to Function as Payment Aggregator
● In-Solutions Global (ISG) has received full authorisation from the Reserve Bank of India (RBI) as
a payment aggregator under the Payment and Settlement Systems framework.
● As a fully authorised payment aggregator, ISG will continue to play a key role in India’s digital
payments ecosystem, providing robust and reliable payment processing services to merchants
and enterprises.
● ISG offers an integrated suite of payment solutions, including:Online platforms, Retail
transactions, Transit payments, Prepaid payment instruments (PPI), National Common Mobility
Card (NCMC), Gift cards.
Infrastructure investment expected to reach 6.5% of Gross domestic product by 2029
● India's infrastructure investment is expected to grow at a 15% Compound Annual Growth Rate
(CAGR) over the next few years, with a focus on capex-driven sectors like roads, railways, and
civil aviation.
● Current infrastructure investment stands at 5.3% of GDP, projected to rise to 6.5% of Gross
domestic product (GDP) by 2029, indicating a CAGR of 15.3%.
● A historic budget of ₹111 lakh crore has been allocated for infrastructure projects, which is
greater than the total GDP of many developing nations.

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 Important Monthly Current Affairs Capsule – December 2024

● Road Sector Development:The Budget allocation for roads has increased ninefold from ₹31,130
crore in 2013-14 to ₹2.7 lakh crore in 2024-25.
● India's national highway network has grown to 146,126 km as of July 2024, marking a 60%
increase from 91,287 km in March 2014.
● Improved road construction has led to a 20% reduction in freight truck transit times, resulting in
potential savings of ₹2.4 lakh crore annually in logistics costs.
● India aims to reduce logistics costs to 9% of GDP by 2025.
Group insolvency provisions expected to be included in the Insolvency and Bankruptcy Code
amendment bill
● A Bill to amend the Insolvency and Bankruptcy Code (IBC) is set to be presented during the
Budget session of Parliament.
● The amendment may introduce "group insolvency" norms to streamline insolvency proceedings
involving multiple companies under common management or ownership.
● Several cases have been resolved by National Company Law Tribunals (NCLTs), but formal
codification of these norms is needed.
● Landmark Cases in Group Insolvency:Videocon Insolvency (2021): The NCLT, Mumbai, ruled for
consolidation of the Corporate Insolvency Resolution Process (CIRP) for 13 out of 15 Videocon
group companies, following principles laid down by US and UK courts.
● Amrapali Group: The Supreme Court treated the Amrapali group (40 firms) as singularly insolvent
after a writ petition filed by homebuyers.
● Other cases like Lavasa Corporation, Jaypee Group, and Sachet Infrastructure were also treated
in a similar manner.
About IBBI :
● Formed : 1 October 2016
● Headquarters : New Delhi, India
Indian scheduled commercial banks Record All-Time High Net Profit of Rs 23.50 Lakh Crore in FY24,
Achieve Significant non-performing asset Reduction
● The gross non-performing asset (NPA) ratio for scheduled commercial banks (SCBs) improved
significantly, declining to 2.67% in June 2024, from 11.18% in March 2018.
● Public Sector Banks (PSBs) also saw a reduction in their gross NPA ratio to 3.12% in September
2024, from 4.97% in March 2015 and 14.58% in March 2018.
● Net Profit Growth:SCBs recorded their highest-ever aggregate net profit of Rs 23.50 lakh crore in
FY2023-24, up from Rs 22.63 lakh crore in FY2022-23.

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 Important Monthly Current Affairs Capsule – December 2024

● PSBs achieved their highest-ever net profit of Rs 1.41 lakh crore during FY2023-24, compared to
Rs 1.05 lakh crore in FY2022-23, and Rs 0.86 lakh crore in the first half of FY2024-25.
● Provision Coverage Ratio (PCR):The PCR for SCBs improved significantly, rising from 49.31% in
March 2015 to 92.52% in June 2024, indicating enhanced resilience.
● RBI Stress Test Results:A recent stress test by the Reserve Bank of India (RBI) confirmed that
SCBs are well-capitalized and capable of absorbing macroeconomic shocks.
● SCBs are expected to meet the minimum regulatory common equity tier 1 (CET1) ratio of 5.5%
even under severe stress scenarios, without requiring further capital infusion.
BOBCARD Unveils Premium Women's Credit Card 'TIARA'
● BOBCARD Limited., a subsidiary of Bank of Baroda, has launched the TIARA Credit Card, a
women-centric card aimed at supporting, empowering, and celebrating women’s financial
autonomy.
● It is designed specifically for modern women, offering a blend of elegance and functionality.
● The TIARA Credit Card is a premium product launched on the RuPay network.
● MD and CEO at BOBCARD Limited : Ravindra Rai
ICICI Bank teams up with Commonwealth Bank of Australia to boost Australia-India trade
● ICICI Bank has signed a Memorandum of Understanding (MoU) with Commonwealth Bank of
Australia (CBA).
● The partnership aims to support customers across the Australia-India corridor, enhancing
bilateral trade and investment opportunities.
● Both banks will collaborate to introduce corporate and institutional customers interested in
investing or setting up businesses in each other's home countries (Australia and India).
About ICICI Bank :
● Founded : 5 January 1955
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Sandeep Bakhshi
About Commonwealth Bank of Australia :
● Headquarters : Sydney, New South Wales, Australia
● CEO : Matt Comyn
Securities and Exchange Board of India launches website for the Association of Registered Research
Analysts of India
● The Securities and Exchange Board of India (SEBI) launched the website for the Association of
Registered Research Analysts of India (ARRAI) on December 16, 2024.

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 Important Monthly Current Affairs Capsule – December 2024

● ARRAI's Purpose: ARRAI represents SEBI-registered research analysts in India, aiming to

promote the interests of research analysts and contribute to the regulatory framework.
Goals of ARRAI:
● Fostering a strong and collaborative community among research analysts.
● Participating in shaping industry policies alongside SEBI and other regulators.
● Promoting ethical standards and best practices within the research analyst profession.
● Elevating the role of research analysts in fostering long-term investing and enhancing investor
trust.
● Membership and Participation: The website will allow over 1,400 research analysts to join as
members and participate in policy-making and consultations.
Life Insurance Corporation’s Unclaimed Maturity Amounts Reach Rs 881 Crore in FY24
● In FY 2023-24, Life Insurance Corporation (LIC) had unclaimed maturity amounts totaling Rs
880.93 crore, with 372,282 policyholders not claiming their maturity benefits.
● The previous year (2022-23), unclaimed amounts were Rs 815.04 crore for 373,329
policyholders.
● 10 death claims worth Rs 14 lakh remained unclaimed during FY 2023-24.
● Factors Affecting INR Exchange Rate:The exchange rate of the Indian Rupee (INR) is influenced
by factors such as: Capital flows (including equity flows), Movement in the dollar index, Interest
rates, Crude oil prices, Current account deficit.
● Non-Banking Financial Companies (NBFCs) and Asset Reconstruction Companies (ARCs):As of
June 30, 2024, 5,728 NBFCs and ARCs had their Certificate of Registration (CoR) cancelled by
the Reserve Bank of India (RBI).
● 25 deposit-taking NBFCs were registered with the RBI.
About LIC :
● Founded : 1 September 1956
● Headquarters : Mumbai, Maharashtra, India
Only four entities granted license a year after Reserve Bank of India issued payment aggregator cross-
border norms

● The Reserve Bank of India (RBI) introduced guidelines over a year ago to regulate Payment
Aggregator Cross-Border (PA-CB) entities.
● PA-CB licences are required for entities involved in cross-border online payment processing.
● Licenses Granted:Only four companies have received PA-CB licences so far:

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 Important Monthly Current Affairs Capsule – December 2024

1. Cashfree Payments
2. Amazon Pay
3. BillDesk
4. Adyen India
5. Cashfree Payments:Bengaluru-based Cashfree Payments was the first company to receive a
PA-CB licence in July 2024.
6. It was granted approval for operations in the import and export sectors.
Types of PA-CB Licences:
● PA-CB Export Licence: Enables businesses to collect payments from international customers.
● PA-CB Import Licence: Allows foreign businesses to receive payments from Indian customers.
Groww Approaches 13 Million Active Users in November
● Financial services player Groww is the dominant player in the stockbroking space with 12.88
million active clients as of November 2024, maintaining its lead over competitors.
● Groww added 282,577 new users in November 2024, according to data from the National Stock
Exchange (NSE).
Competitor Positions:
● Zerodha holds the second spot with 8.12 million active users.
● Angel One is in third place with 7.63 million active clients.
● Upstox is fourth with 2.87 million active users.
● Active Investor Definition: The NSE classifies active investors as those who have completed at
least one transaction in the past 12 months.
About Groww :
● Founded in 2016 as a mutual fund investment platform, Groww expanded into stock trading in
2020.
● The company further diversified into consumer lending, payments, and asset management
through subsidiaries.
Indian Banks Write Off Loans Worth ₹12.3 Lakh Crore in Last 10 Years
● Between 2014-15 and 2023-24, Indian commercial banks wrote off ₹12.3 lakh crore in loans.
● Public Sector Banks' Contribution: Public sector banks accounted for ₹6.5 lakh crore of the total
write-offs during FY20-24.
● Peak Write-Offs in FY19: Write-offs reached a peak of ₹2.4 lakh crore in FY19, following an asset
quality review.

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 Important Monthly Current Affairs Capsule – December 2024

● Write-Offs in FY24: The loan write-offs dropped to ₹1.7 lakh crore in FY24, representing 1% of
the total outstanding bank credit.
● Public Sector Banks’ Share in New Loans: Public sector banks' share of new loans decreased
from 54% in FY23 to 51% in FY24.
● Gross NPAs of Public Sector Banks (PSBs): As of September 30, 2024, the gross NPAs for
PSBs were ₹3,16,331 crore (3.01% of outstanding loans).
● NPAs for Private Sector Banks: Gross NPAs for private sector banks were ₹1,34,339 crore (1.86%
of outstanding loans).
● Write-Offs by Major Banks: State Bank of India (SBI) wrote off ₹2 lakh crore, while Punjab
National Bank (PNB) wrote off ₹94,702 crore in the last decade.
State Bank of India Invites Counter Bids to Sell ₹52,000 Crore Consortium Loans in Jaiprakash
Associates Limited
● State Bank of India (SBI) invited counter bids to sell bad debt worth ₹52,074 crore to Jaiprakash
Associates Limited (JAL) through a Swiss challenge auction.
● The auction was triggered by an anchor bid from National Asset Reconstruction Company
Limited. (NARCL).
● SBI has the highest exposure of ₹15,464 crore, followed by ICICI Bank (₹10,443 crore) and IDBI
Bank (₹8,718 crore).
● IDBI Capital Markets & Securities Ltd. has been appointed as the process advisor for the sale on
behalf of the consortium of lenders.
About NARCL :
● NARCL was incorporated on July 7, 2021.
● Purpose:It is a government-owned entity established to acquire bad loans from banks to aid in
the stabilization of the financial system and support economic growth.
● Ownership Structure:State-owned banks hold a 51% stake in NARCL.
● Private sector banks own the remaining 49% stake.
● RBI Registration:NARCL is registered with the Reserve Bank of India (RBI) under the provisions
of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest
(SARFAESI) Act, 2002.
About SBI :
● Founded : 1 July 1955
● Headquarters : Mumbai, Maharashtra, India
● Chairman : Challa Sreenivasulu Setty

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 Important Monthly Current Affairs Capsule – December 2024

About JAL :
● Founded : 1979
● Headquarters : Noida, Uttar Pradesh, India
● Chairman : Jaiprakash Gaur
Securities and Exchange Board of India to Introduce Mutual Fund Investment Tracing and Retrieval
Assistant Platform for Tracing Inactive and Unclaimed Mutual Fund Investments
● The Securities and Exchange Board of India (SEBI) has proposed the creation of MITRA (Mutual
Fund Investment Tracing and Retrieval Assistant).
● MITRA will be a centralized platform enabling investors to search for inactive mutual fund
investments at an industry level.
● Platform Features:The platform will allow investors to search for inactive and unclaimed mutual
fund investments.
● It will be jointly developed and hosted by CAMS (Computer Age Management Services) and KFin
Technologies, which are qualified Registrar and Transfer Agents (RTAs).
● Inactive Folios:Inactive folios are defined as those where no investor-initiated transactions
(financial or non-financial) have occurred in the last 10 years, but the units still remain available.
Reserve Bank of India Removes Restrictions on ECL Finance and Edelweiss ARC Following
Compliance Measures

● The Reserve Bank of India (RBI) lifted business restrictions on two entities of the Edelweiss
Group, ECL Finance Limited and Edelweiss Asset Reconstruction Company Limited (Edelweiss
ARC), with immediate effect.
● Imposition of Restrictions: On May 29, 2024, RBI had imposed business restrictions under the
Reserve Bank of India Act, 1934, and the SARFAESI Act, 2002.
➔ ECL Finance Ltd was directed to cease structured transactions related to its wholesale
exposures, except for regular repayments or account closures.
➔ Edelweiss ARC was restricted from acquiring financial assets, including security receipts
(SRs), or reorganizing SRs into senior and subordinate tranches.
Central Board of Indirect Taxes and Customs Chairman Sanjay Kumar Agarwal unveils new initiatives
to improve taxpayer services

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 Important Monthly Current Affairs Capsule – December 2024

● Shri Sanjay Kumar Agarwal, Chairperson of the Central Board of Indirect Taxes and Customs
(CBIC), launched new initiatives in the presence of the CBIC Board Members, focusing on
improving taxpayer services.
● The initiatives aim to simplify tax processes, enhance transparency, and build trust with
taxpayers by empowering them and incorporating their feedback.
Key Initiatives Launched:
● Revised Citizen's Charter
● ‘Ease of Doing Business’ Tab for Suggestions
● Revamped Citizen's Corner
● CBIC Archives
About CBIC :
● Formed : 26 January 1944
● Headquarters : New Delhi, India
● Chairman : Shri Sanjay Kumar Agarwal
● The CBIC is a statutory body under the Department of Revenue, Government of India.
About Ministry of Finance :
● Cabinet Minister : Nirmala Sitharaman
● Minister of State : Pankaj Choudhary
Central Board of Direct Taxes initiates electronic campaign to resolve income and transaction
mismatches for Financial Year 2023-24 and FY 2021-22

● The Central Board of Direct Taxes (CBDT) has initiated an electronic campaign to assist
taxpayers in resolving mismatches between income and transactions reported in the Annual
Information Statement (AIS) and those disclosed in Income Tax Returns (ITRs) for FY 2023-24
and FY 2021-22.
● For FY 2021-22, the updated ITRs can be filed by March 31, 2025.
About CBDT :
● Formed : 1 January 1964
● Headquarters : New Delhi, India
● Chairman : Ravi Agarwal
● The CBDT is a statutory body under the Department of Revenue, Ministry of Finance,
Government of India.
InCred Finance Plans INR 5,000 Crore initial public offering by Diwali 2025

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 Important Monthly Current Affairs Capsule – December 2024

● InCred, a fintech unicorn, is planning its initial public offering (IPO) to raise INR 4,000 Cr (approx.
$470 Mn) to INR 5,000 Cr (approx. $590 Mn) by late 2025.
● The company is targeting a valuation between INR 15,000 Cr (approx. $1.78 Bn) and INR 22,500
Cr (approx. $2.6 Bn).
● InCred aims to finalize merchant bankers to manage the IPO by January 2025, with a launch
expected around Diwali 2025.
About InCred Group :
● Founded in 2016 by Bhupinder Singh, InCred Group operates across three verticals in the
banking, financial services, and insurance (BFSI) sector:
○ InCred Money: Focuses on retail bonds and alternative investments.
○ InCred Finance: Specializes in lending.
○ InCred Capital: Handles wealth and asset management.
ICICI Prudential Life Leads with 99.04% Claim Settlement Ratio in Q2 FY2025
● ICICI Prudential Life Insurance recorded a claim settlement ratio of 99.04% for the July-
September quarter of FY2025.
● This is the highest claim settlement ratio among all life insurance companies in the country for
the mentioned period.
● The average claim settlement turnaround time was just 1.2 days, indicating quick processing of
claims by the insurer.
● The total value of death claims settled by ICICI Prudential Life Insurance during this period was
₹451.05 crore.
About ICICI Prudential Life Insurance :
● Founded : 2000
● Headquarters : Mumbai, Maharashtra
● MD & CEO : Anup Bagchi
● It was established as a joint venture between ICICI Bank Limited and Prudential Corporation
Holdings Limited
RBI discontinues specific Rs 5 coins from circulation
● The Central Government and the Reserve Bank of India (RBI) have jointly made an important
decision regarding the 5 rupee coin.
● A particular type of this coin is being withdrawn from circulation, primarily due to specific challenges
and concerns.

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 Important Monthly Current Affairs Capsule – December 2024

● With the advancement of Digital India, more people are using payment apps like GPay and PhonePe,
reducing the need for carrying small denominations like coins.
● Coins of 1 rupee to 20 rupees are currently in circulation, with various types of 5 rupee coins,
including those made of brass and thicker metals.
About RBI:
● Headquarters: Mumbai, Maharashtra, India
● Established: 1 April 1935
● Governor: Sanjay Malhotra
Federal bank partners with Ecofy to tackle green financing for MSMEs
● Federal Bank, one of India’s leading private sector banks, has joined hands with Ecofy, India’s
first green-only non-banking financial company (NBFC) supported by Eversource Capital, to
provide innovative financing solutions for MSMEs investing in commercial rooftop solar
installations.
● This collaboration is among the first co-lending initiatives in India designed specifically to cater to
the solar financing needs of MSMEs.
● The program aims to finance 3,600 kW of rooftop solar installations annually, helping MSMEs
reduce over 2,500 tons of CO2 emissions per year.
Federal Bank’s Green Initiatives
● Green Loan Schemes: Federal Bank offers dedicated loans to finance solar and eco-friendly
projects for Business Banking customers.
● Focus on MSMEs: MSME loans constitute over 20% of the bank's total loan book, reflecting its
active engagement in supporting this sector.
About Federal Bank:
● Headquarters: Aluva, Kerala
● Established: 23 April 1931
● CEO: Manian KVS
About Ecofy:
● Ecofy is a one of its kind green-only NBFC and received RBI license (Non Deposit taking) in
November 2022.
● Ecofy is committed towards addressing the climate finance gap in India, more so on the retail
side by partnering with people and businesses who want to reduce carbon footprint and restore
balance to the planet.
Aditya Birla Housing Fin Partners with NHB for PM Awas Yojana

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 Important Monthly Current Affairs Capsule – December 2024

● Aditya Birla Housing Finance (ABHFL) has entered into a partnership with the National Housing
Bank (NHB) to advance the Pradhan Mantri Awas Yojana (PMAY) vision of 'Housing for All'.
● The collaboration focuses on providing housing finance solutions to economically weaker
sections (EWS), low-income groups (LIG), and middle-income groups (MIG) across India.
● Loan Offerings: ABHFL has introduced home loan options of up to ₹25 lakh for families earning
₹3 lakh annually, aiming to make homeownership more accessible to underserved populations.
About Pradhan Mantri Awas Yojana (PMAY):
● Launched in 2015, PMAY aims to provide affordable housing to urban poor by 2022. The scheme
offers interest subsidies on housing loans, with rates varying based on income categories:
● EWS and LIG: Interest subsidy of 6.5% for loans up to ₹6 lakh.
● MIG-I: Interest subsidy of 4% for loans up to ₹9 lakh.
● MIG-II: Interest subsidy of 3% for loans up to ₹12 lakh.
About National Housing Bank:
● Founded: 9 July 1988
● Headquarters: New Delhi, India
● Managing Director: Sanjay Shukla
● Owner: Ministry of Finance, Government of India

Reliance Nippon Life starts negotiation with IndusInd Bank on bancassurance tie up
● Reliance Nippon Life Insurance (RNLI), a subsidiary of debt-ridden Reliance Capital (RCAP), has
initiated discussions with IndusInd Bank to establish a bancassurance partnership.
● This development follows the acquisition of RCAP by IndusInd International Holdings Ltd (IIHL),
the parent entity of IndusInd Bank, and the nearing completion of RCAP’s resolution process.
About IndusInd Bank:
● Founded: April 1994
● Founder: S. P. Hinduja
● Headquarters: Mumbai, Maharashtra, India
● MD & CEO: Sumant Kathpalia
About Reliance Nippon Life Insurance Company:
● Founded: 14 May 2001
● Headquarters: Santacruz, Mumbai, India
● Chairman: Anil Ambani
● CEO: Ashish Vohra

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 Important Monthly Current Affairs Capsule – December 2024

Times Internet Partners With ICICI Bank For A Co-Branded Premium Metal Credit Card
● Times Internet, in collaboration with ICICI Bank, has unveiled the Times Black ICICI Bank Credit
Card, an ultra-premium offering tailored for high-net-worth individuals (HNIs) and affluent
customers.
● Powered by Visa, this card combines luxury, innovation, and tradition with a host of exclusive
privileges and benefits.
About ICICI Bank:
● Formerly: Industrial Credit and Investment Corporation of India (as a Government Organization)
● Headquarters: Mumbai, Maharashtra, India (corporate headquarters)
● Registered Office: Vadodara, Gujarat, India
● Part-time Chairman: Pradeep Kumar Sinha
● MD & CEO: Sandeep Bakhshi
About Times Internet:
● Founded: 1999
● Headquarters: Gurgaon, India
● Vice Chairman: Satyan Gajwani
● COO: Puneet Gupt
India Emerges As Top Global Recipient Of Remittances: World Bank
● India emerged as the largest recipient of remittances in 2024, with an estimated inflow of $129
billion, according to a blog post by World Bank economists.
● India was followed by Mexico, China, Philippines, and Pakistan.
● The surge was fueled by a recovery in job markets in high-income countries, particularly those in
the Organization for Economic Co-operation and Development (OECD).
● Global remittance inflows grew by 5.8% in 2024, compared to 1.2% in 2023.
● Remittance flows to low- and middle-income countries (LMICs) are expected to reach $685 billion.
About World Bank:
● Established: July 7, 1944
● Headquarters: Washington, D.C., U.S.
● Membership: 189 countries
● President: Ajay Banga
Govt Likely To Target Fiscal Deficit Of 4.4% Of GDP For FY26
● The Indian government is anticipated to set a fiscal deficit target of 4.4% of GDP for the financial
year 2025-26, signaling a move towards fiscal discipline while maintaining economic growth.

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 Important Monthly Current Affairs Capsule – December 2024

● This target is expected to be announced in the Union Budget 2024-25, scheduled for February 1,
2024.
● Current and Target Deficits:
o FY24 fiscal deficit target: 5.9% of GDP.
o FY26 target: 4.5% of GDP.
o Proposed FY26 target: 4.4%, reflecting sharper deficit reduction efforts.
India’s GDP growth pegged at 6.6% for FY26 on investment boost: India Ratings
● India Ratings and Research has projected a positive economic trajectory for India in FY26, with
growth, investments, and fiscal consolidation as key highlights.
● India Ratings and Research has projected the country's economic growth to accelerate to 6.6%
in FY26, up from 6.4% for FY25, supported by a stronger investment climate.
● This growth is expected to be driven by a rise in gross fixed capital formation (GFCF), which is
anticipated to increase by 7.2% in FY26, up from 6.7% in FY25.
● India's growth in Gross Value Added (GVA) is expected to be led by the services sector, with a
rise of 7.4% in FY26.
● The industrial sector is projected to grow at 6.6%, while the agriculture sector is expected to see
a much slower growth rate of 3.4%.
● This sectoral contribution highlights the ongoing shift towards services and industrialization as
key drivers of the economy.
Sebi tightens SME IPO rules, limits promoter OFS to 20%
● The Securities and Exchange Board of India (SEBI) has introduced tighter regulations for Small
and Medium Enterprises (SMEs) seeking to list through Initial Public Offerings (IPOs) in order to
safeguard investor interests and ensure that only financially sound companies access the public
capital markets.
Key changes approved by SEBI:
● An SME must have an operating profit of at least ₹1 crore from operations in at least two of the
previous three financial years to be eligible for an IPO.
● Funds raised through an SME IPO cannot be used to repay loans to promoters, promoter groups,
or related parties.
● The Offer for Sale (OFS) portion of the IPO cannot exceed 20% of the total issue size.
● Selling shareholders are not allowed to sell more than 50% of their holdings.
● The funds allocated for General Corporate Purpose in an SME IPO are capped at 15% of the
issue size or ₹10 crore, whichever is lower.

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 Important Monthly Current Affairs Capsule – December 2024

● The lock-in on promoters' holding in excess of the Minimum Promoter Contribution (MPC) will be
released in phases: 50% after one year and the remaining 50% after two years.
● The allocation methodology for non-institutional investors (NIIs) will now align with the
methodology used for main board IPOs.
● IPO draft documents will be made available for public comment for 21 days.
● The minimum application size for SME IPOs will increase from ₹1 lakh to ₹2 lakh per application.
Securities and Exchange Board of India extends environmental, social and governance disclosure
deadline under Business Responsibility and Sustainability Reporting framework by one year to FY26
● Markets regulator Securities and Exchange Board of India (SEBI) has decided to defer the ESG
(Environmental, Social, and Governance) disclosure deadline for value chain partners of listed
companies by one year until FY26, giving more time to them to comply with the Business
Responsibility and Sustainability Reporting (BRSR) requirements.
● Until FY26, ESG reporting will remain voluntary, replacing the current "comply-and-explain"
approach for companies and their value chain partners.
● SEBI reduced the scope of value chain disclosures to cover the top upstream and downstream
partners, individually accounting for 2% or more of the listed entity's purchases and sales by
value.
● Reporting Limitation: Entities can limit value chain disclosures to 75% of their total purchases and
sales by value.
● Under Principle 6 of the Business Responsibility and Sustainability Reporting (BRSR), a new
leadership indicator will require companies to disclose green credits generated or procured by
the company and its top 10 value chain partners.
Securities and Exchange Board of India imposes cap on new fund offer fundraise based on mutual
funds' deployment capacity
● Securities and Exchange Board of India (SEBI) has mandated mutual funds to specify the
amount they plan to raise in a New Fund Offer (NFO) based on their ability to deploy the raised
funds within a specified timeframe.
● The objective is to ensure that mutual funds only collect as much money in NFOs as they can
reasonably deploy, typically within 30 days, as per the scheme's asset allocation.
● Relaxed Regulations: SEBI has relaxed various regulatory frameworks, including:
➔ Minimum investment requirements for mutual funds.
➔ Disclosure frequency and lock-in periods for employees who have resigned.
➔ Empowerment of the Nomination and Remuneration Committee to ensure compliance.

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 Important Monthly Current Affairs Capsule – December 2024

➔ Relaxed requirements for employees managing liquid funds.

➔ Relaxed redemption norms.
Government of India and Asian Development Bank sign $42 million loan to enhance coastal protection
and strengthen community resilience in Maharashtra
● The Government of India (GoI) and Asian Development Bank (ADB) signed a $42 million loan for
the Maharashtra Sustainable Climate-Resilient Coastal Protection and Management Project.
● The loan aims to provide coastal and riverbank protection to enhance the resilience of local
communities and natural ecosystems in Maharashtra.
● Signatories: The agreement was signed by Ms. Juhi Mukherjee, Joint Secretary, Department of
Economic Affairs, Ministry of Finance (India), and Ms. Mio Oka, Country Director of ADB’s India
Resident Mission.
Shriram Finance secures $1.27 billion through multi-currency syndicated loan
● Shriram Finance raised $1.27 billion through a multi-currency syndicated external commercial
borrowing (ECB), marking it as the largest ECB loan secured by a domestic private non-banking
finance company (NBFC).
● Currency Denominations: The loan is structured in multiple currencies:
➔ $1.15 billion in USD
➔ 275 million in Dirhams
➔ 50 million in Euros
● Tenor: The loan has a tenor of up to five years.

India and Asian Development Bank Sign $350 Million Loan for Strengthening Multimodal Logistics
under Strengthening Multimodal and Integrated Logistics Ecosystem Program
● The Government of India (GoI) and the Asian Development Bank (ADB) signed a $350 million
policy-based loan under the second subprogram of the Strengthening Multimodal and Integrated
Logistics Ecosystem (SMILE) program.
● Signatories:The Department of Economic Affairs (DEA), Ministry of Finance, Department for
Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, and ADB
were the signatories to the loan agreement.
● The SMILE program aims to support the government in implementing reforms in India’s logistics
sector.
● It is a programmatic policy-based loan (PBL) with two subprograms to enhance India’s
manufacturing sector and improve supply chain resilience.

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 Important Monthly Current Affairs Capsule – December 2024

About ADB :
● Founded : 19 December 1966
● Headquarters : Philippines
About Ministry of Commerce & Industry :
● Cabinet Minister : Piyush Goyal
● Minister of State : Jitin Prasada
Reserve Bank of India Imposes ₹27.30 Lakh Penalty on IndusInd Bank for Non-Compliance with
Interest Rate on Deposits Directions

● The Reserve Bank of India (RBI) imposed a monetary penalty of ₹27.30 lakh on IndusInd Bank
Limited. for non-compliance with the ‘Reserve Bank of India (Interest Rate on Deposits)
Directions, 2016’.
● The penalty was imposed under Section 47A(1)(c) read with Section 46(4)(i) of the Banking
Regulation Act, 1949.
Reserve Bank of India levies monetary penalty on Manappuram Finance Limited

● The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹20 lakh on Manappuram
Finance Limited for non-compliance with RBI’s “Know Your Customer (KYC) Directions, 2016.”
● The penalty was imposed under Section 58G(1)(b) and Section 58B(5)(aa) of the Reserve Bank
of India Act, 1934.
● Reason for Penalty:The company failed to verify the Permanent Account Number (PAN) of
customers using the verification facility of the issuing authority during customer acceptance.
Union Finance Minister Nirmala Sitharaman Chairs Pre-Budget Consultation Meeting with States and
UTs in Jaisalmer, Rajasthan
● Union Finance Minister Nirmala Sitharaman chaired pre-budget consultations with Finance
Ministers of States and Union Territories at Jaisalmer, Rajasthan, for the Union Budget FY 2025-
26.
● Sitharaman highlighted that, due to a healthy macroeconomic environment, the funds devolved to
States between April 2021 to December 2024 under the 15th Finance Commission exceeded
those devolved in the 60 months under the 14th Finance Commission.
● Scheme for Special Assistance to States for Capital Investment (SASCI):First introduced in
Union Budget 2020-21, SASCI has been well-received by States for constructing capital assets.

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 Important Monthly Current Affairs Capsule – December 2024

● Additional Allocation Under SASCI for FY 2024-25:An additional Rs. 30,000 crore allocated as
"Untied Funds" under SASCI-2024-25.
● Disaster Relief for States:A new dispensation under SASCI for States affected by severe natural
disasters, assessed by the Inter-Ministerial Central Team (IMCT) from the Ministry of Home
Affairs (MHA).
● Eligible States may receive up to 50% of their allocation under Part-1 (Untied) of SASCI to assist
in reconstruction of damaged infrastructure (roads, bridges, water supply lines, etc.).
● This aid will be in addition to the support from the National Disaster Response and Mitigation
Fund (NDRMF).
About Ministry of Finance :
● Cabinet Minister : Nirmala Sitharaman
● Minister of State : Pankaj Choudhary
Bajaj Finance Exits Co-Branded Credit Card Business, Ends Partnerships with DBS India and RBL

● Bajaj Finance has decided to exit the co-branded credit card space by ending its eight-year tie-up
with RBL Bank and DBS Bank India.
● Reason for the Exit:The exit follows a Reserve Bank of India (RBI) direction that restricted co-
brand partners to only sourcing cards and providing access to cardholders for goods/services
offered.
About Bajaj Finance Limited :
● Founded : 25 March 1987
● Headquarters : Pune, Maharashtra
● Managing Director : Rajeev Jain
About RBL Bank :
● Founded : August 1943
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : R Subramaniakumar
Central Bank of India Marks 114th Foundation Day Celebration
● The Central Bank of India (CBI) Regional Office in Ranchi celebrated the 114th Foundation Day
of the bank.
● The program began with Regional Head Sunil Kumar garlanding the portrait of Sir Sorabji
Pochkhanawala, the founder of the bank.

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 Important Monthly Current Affairs Capsule – December 2024

● The Central Bank of India, established on December 21, 1911, by Sir Sorabji Pochkhanawala, is
the first indigenous bank in India.
● The bank has around 5,000 branches across India, with 75% of these located in rural and semi-
urban areas.
● A total loan amount of approximately ₹52 crores was sanctioned by branches under the regional
office.
About CBI :
● Founded : 21 December 1911
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Matam Venkata Rao
● Tagline : Build a better life around us, Central to you since 1911

Banks request Reserve Bank of India to extend timeline for compliance with overlapping lending
regulations
● Banks have requested the Reserve Bank of India (RBI) to extend the timeline for complying with
new guidelines that prohibit overlapping lending activities between banks and their group entities.
● The banks have submitted feedback through the Indian Banks' Association (IBA).
● Banks have sought an extension beyond the two-year deadline, with some requesting up to 5
years to fully comply with the regulations.
● The new guidelines, outlined in a draft circular issued by the RBI in October, state that only one
entity within a bank group can undertake a particular form of permissible business.
● Multiple entities within a bank group cannot engage in the same business or hold/acquire the
same licenses from any financial sector regulator.
Securities and Exchange Board of India Bans 9 Entities and Seizes ₹21 Crore in Illegal Gains in Front-
Running Case
● The Securities and Exchange Board of India (SEBI) uncovered a front-running scheme involving
PNB MetLife India Insurance Company equity dealer Sachin Bakul Dagli and eight other entities.
● The total illegal gains from the front-running activities amounted to ₹21.16 crore.
● The front-running activities took place over more than three years, from January 1, 2021, to July
19, 2024.
● Trade Patterns: A "Buy-Buy-Sell" or "Sell-Sell-Buy" trading pattern was used to capitalize on
market movements resulting from large client trades.
About SEBI :

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 Important Monthly Current Affairs Capsule – December 2024

● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.
Centre Likely to Set FY26 Fiscal Deficit Target Below 4.5% of GDP
● The central government aims to reduce the fiscal deficit to below 4.5% of GDP by FY26,
continuing its glide path of fiscal consolidation set out in the FY22 Budget.
● The government is focused on improving the quality of public spending and strengthening the
social security net for the poor and needy, while maintaining fiscal discipline.
● FY25 Fiscal Deficit (Target and Actual):Target: The fiscal deficit for FY25 is targeted at 5.9% of
GDP (3% in terms of GDP).
● Fiscal Deficit in H1FY25: The fiscal deficit for the first half of FY25 stood at 29.4% of the Budget
estimate (BE), lower than the 39.39% recorded in H1FY24.
Government of India and Asian Development Bank Ink $500 Million Loan for Sustainable Infrastructure
Aligned with Climate Goals
● The Government of India (GoI) and the Asian Development Bank (ADB) signed a $500 million
loan agreement to support green and sustainable infrastructure projects aligned with India’s
climate commitments.
● The loan, with a sovereign guarantee, will be extended to the India Infrastructure Finance
Company Limited (IIFCL).
● Signatories:
● Ms. Juhi Mukherjee, Joint Secretary, Department of Economic Affairs, Ministry of Finance,
Government of India.
● Mio Oka, Country Director, Asian Development Bank (ADB).
● Purpose of Loan:
● To provide long-term capital for infrastructure projects focusing on connectivity, energy transition,
urban projects, education, and healthcare.
● Support sectors under-resourced for development, in line with India’s climate commitments.
India's insurance penetration decreased in FY24, but density increased
● Insurance penetration in India fell to 3.7% in 2023-24, down from 4% in the previous fiscal year.

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 Important Monthly Current Affairs Capsule – December 2024

● This marks the second consecutive year of decline in insurance penetration, which had already
dropped from 4.2% in 2021-22 to 4% in 2022-23.
● Despite the drop in penetration, insurance density (per capita premium) increased to $95 in
2023-24, up from $90 in the previous year.
● Non-life insurance density rose from $22 to $25, while life insurance density remained stable at
$70.
● Global Comparison:India’s insurance penetration of 3.7% and insurance density of $95 are still
lower than the global averages of 7% and $889 in 2023.
● Life Insurers' Performance:Public sector life insurers: Collected ₹4,75,752 crore in premiums, a
0.22% increase from 2022-23.
● Private sector life insurers: Collected ₹3,54,178 crore in premiums, a 15.05% increase from
2022-23.
● The total premium collected by the industry in 2023-24 was ₹8,29,930 crore, showing a 6.06%
increase from the previous year.
● Private insurers issued 69.89% of new policies, while public insurers issued 30.11%.
● Non-Life Insurance Industry:The non-life insurance industry saw a growth of 16.18% in total
direct premiums, reaching ₹2.90 lakh crore in 2023-24.
Reserve Bank of India Reports Economic Recovery in Q3 Driven by Festival Activity and Strong Rural
Demand
● India's Gross domestic product (GDP) growth in the July-September quarter of 2024-25 was
5.4%.
● GDP growth is expected to recover in the October-December quarter, with projections of 6.8%
growth for Q3 and 6.5% for Q4 of FY24.
● E-way bills increased by 16.3% YoY in November 2024.
● Toll collections showed double-digit growth in both value and volume terms in November 2024.
● Monetary Policy and Growth Projections:RBI revised its FY24 GDP growth projection to 6.8%
from 7.2% in December 2024.
● Foreign Portfolio Investment (FPI):Net FPI outflows in November 2024 amounted to $2.4 billion,
with $2.7 billion in equity outflows and $0.3 billion in debt inflows.
HDFC Bank Completes First Gold Forward Transaction from Gujarat GIFT City
● HDFC Bank has become the first domestic bank to execute a gold forward deal from GIFT City
(Gujarat International Finance Tec-City).
● This transaction marks a significant milestone in India's bullion trading ecosystem.

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 Important Monthly Current Affairs Capsule – December 2024

● The transaction was carried out by HDFC Bank’s International Banking Unit (IBU) at GIFT City in
collaboration with Hindustan Platinum, a global refiner and manufacturer of high-purity precious
metals.
About HDFC Bank :
● Founded : August 1994
● Headquarters : Mumbai, Maharashtra, aIndia
● CEO : Sashidhar Jagdishan
Reserve Bank of India records highest monthly dollar sale since September 2022 with $9.2 billion net
sold in October
● In October 2024, the Reserve Bank of India (RBI) net sold $9.2 billion, marking the highest
monthly sale in over two years (since September 2022, when $10.3 billion was sold).
● The RBI bought $27.5 billion and sold $36.7 billion of foreign currency in October.
● Rupee Movement:The rupee depreciated by 0.34% in October, breaching the 84 per dollar mark
on October 11 and moving past the 85 per dollar mark by the end of the month.
● The rupee faced increased depreciation since October 11, falling by 1.44%.
● RBI's Role in Stabilizing the Rupee:The RBI intervened aggressively at the 83.98 per dollar level
to contain the rupee's volatility.
● Outstanding Forward Sales:As of October 2024, the RBI's net outstanding forward sales of
foreign currency stood at $49.18 billion, compared to $14.58 billion in September 2024.
Reserve Bank of India data shows 10.6% rise in outward remittances under Liberalised Remittance
Scheme in October, 2024
● In October 2024, outward remittances under the RBI's LRS rose by 10.6% YoY, amounting to
$2.4 billion, up from $2.17 billion in October 2023.
● For the August-October quarter, outward remittances totaled $8.37 billion, compared to $9.05
billion in the same period in FY23.
● Remittances for international travel accounted for over 60% of total outward remittances, with a
6.26% YoY increase to $1.45 billion in October 2024 (compared to $1.36 billion in FY23).
About LRS :
● The LRS allows resident individuals, including minors, to remit up to $250,000 per financial year
for permissible transactions, including both current and capital account transactions.
● The limit has increased over time from the original limit of $25,000.
Reserve Bank of India data shows net foreign direct investment into India drops to $2.2 billion during
April-October

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 Important Monthly Current Affairs Capsule – December 2024

● Net Foreign Direct Investment (FDI) into India slowed significantly, dropping to $2.1 billion in
April-October 2024, down from $7.7 billion during the same period in 2023.
● Despite the slowdown in net FDI, gross inward FDI rose to $48.6 billion during April-October
2024, compared to $42.1 billion a year ago.
● The deceleration in net FDI was primarily due to the increase in repatriation (rising to $34.1 billion
from $26.4 billion in the previous year) and net outward FDI (increasing to $12.4 billion from $8.0
billion).
● More than 60% of gross FDI inflows were directed to key sectors such as:Manufacturing,
Financial services, Electricity and energy, Retail and wholesale trade.
Non-Resident Indian Deposits Surge to $12 Billion in April-October FY25: RBI Data
● Overseas Indians deposited around $12 billion in NRI deposit schemes during the period April-
October FY25, almost double the amount deposited during the same period in the previous year
($6.11 billion).
● As of October 2024, the total outstanding NRI deposits stood at $162.69 billion, compared to
$143.48 billion in October 2023.
● In October 2024 alone, a little over $1 billion was deposited by overseas Indians in various NRI
deposit schemes.
● The NRI deposit schemes include foreign currency non-resident (FCNR) deposits, non-resident
external (NRE) deposits, and non-resident ordinary (NRO) deposits.
Punjab and Sind Bank Secures ₹3,000 Crore in First-Ever Infrastructure Bond Issue
● Punjab & Sind Bank raised ₹3,000 crore through its maiden infrastructure bond issuance.
● The bank received bids worth ₹6,031 crore, significantly exceeding the base issue size of ₹500
crore.
● The bonds were issued with an annual coupon rate of 7.74%.
Bond Characteristics:
● Tenure: 10 years.
● Type: Unsecured, subordinated, redeemable, non-convertible, taxable, fully paid-up long-term
instruments.
● Face Value: ₹1 lakh per bond.
About Punjab & Sind Bank :
● Founded : 24 June 1908
● Headquarters : New Delhi, India
● MD & CEO : Swarup Kumar Saha

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 Important Monthly Current Affairs Capsule – December 2024

Fintechs Request Reserve Bank of India Approval to Offer Credit Lines on UPI Platform
● Non-banking finance companies (NBFCs) in the digital lending space have requested the
Reserve Bank of India (RBI) to allow them to offer pre-approved credit on the UPI platform.
● On December 6, 2024, the RBI extended pre-approved credit lines on UPI to small finance
banks.
● NBFCs and fintech companies raised this request during the RBI's monthly "finteraction"
sessions, designed for discussions with the fintech industry.
● The request aims to enable fintech companies to offer low-ticket, low-tenor credit products,
especially to new-to-credit customers, in line with the RBI’s objectives.
Reserve Bank of India forms 8-member committee to create framework for responsible Artificial
Intelligence use in finance
● The Reserve Bank of India (RBI) has established an 8-member committee to develop a
framework for the responsible and ethical enablement of artificial intelligence (AI) in the financial
sector.
● The committee is tasked with creating the FREE-AI framework (Responsible and Ethical
Enablement of AI in Financial Services).
● Committee Leadership and Members:The committee will be led by Professor Pushpak
Bhattacharyya from IIT Bombay (Department of Computer Science and Engineering).
● Other members include professionals from various sectors such as technology, banking, and
regulatory bodies, including:
1. Debjani Ghosh (Independent Director, Reserve Bank Innovation Hub)
2. Balaraman Ravindran (Professor and Head, Wadhwani School of Data Science and AI, IIT
Madras)
3. Abhishek Singh (Additional Secretary, Ministry of Electronics and Information Technology)
4. Rahul Matthan (Partner, Trilegal)
5. Anjani Rathor (Group Head and Chief Digital Experience Officer, HDFC Bank)
6. Sree Hari Nagaralu (Head of Security AI Research, Microsoft India)
7. Suvendu Pati (CGM, FinTech Department, RBI).
Reserve Bank of India Report Highlights Concerns Over High Attrition, Dark Patterns, and Top-Up
Loans

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 Important Monthly Current Affairs Capsule – December 2024

● High employee attrition rates (around 25%) in private sector banks (PVBs) and small finance
banks (SFBs) pose operational risks, such as disruption in customer service and loss of
institutional knowledge.
● RBI urges banks to reduce attrition through improved onboarding, extensive training, mentorship
programs, competitive benefits, and a supportive workplace culture.
● Dark Patterns in Digital Banking:RBI highlights concerns over "dark patterns" (misleading design
interfaces) used in digital banking that trick users into certain behaviors.
● It mentions the Central Consumer Protection Authority's (CCPA) guidelines and the RBI's
ongoing investigation into these practices.
IndusInd Bank plans to sell ₹1,573 crore in microfinance loans

● IndusInd Bank plans to offload ₹1,573 crore worth of non-performing microfinance retail loans.
● The loans are part of over a million accounts and are being sold due to mounting stress in the
microfinance sector.
● The auction will be conducted on a 100% cash basis, meaning the buyers need to pay the full
amount upfront.
● The reserve price set by the bank for the assets is ₹85 crore, which translates to a recovery rate
of 5.04%.
● In Nov, 2024 Ujjivan Small Finance Bank had sold ₹270 crore worth of non-performing assets
including ₹208 crore worth of non-performing loans and ₹62.36 crore of written-off microbanking
loans.
About IndusInd Bank :
● Founded : April 1994
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Sumant Kathpalia
Rupee Falls 12 Paise to Reach Record Low of 85.27 Against U.S. Dollar
● The Indian Rupee weakened for the third consecutive session, falling 12 paise to close at a new
all-time low of 85.27 against the U.S. dollar.
● The previous session's closing was at 85.15, and the rupee had also fallen by 9 paise the day
before.
Trade Receivables E-Discounting System platform sees major growth in 2024, with bills financed
surpassing ₹2 lakh crore, benefiting small businesses

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 Important Monthly Current Affairs Capsule – December 2024

● The Trade Receivables Electronic Discounting System (TReDS), backed by the Reserve Bank of
India (RBI), has seen significant growth in 2024, with bills financed crossing ₹2 lakh crore.
● TReDS helps shorten the working capital cycle for small businesses by facilitating faster
financing of receivables.
● As of October 2024, the TReDS platform financed nearly 100,000 bills with a combined value of
₹2.08 lakh crore.
● Over 100,000 MSME sellers are registered on four licensed TReDS platforms: Invoicemart (Axis
Bank), M1xchange, Receivables Exchange of India (RXIL), and C2FO Factoring Solutions.
Securities and Exchange Board of India Imposes ₹6 Lakh Penalty on EbixCash, Ebix for Disclosure
Violations
● Securities and Exchange Board of India (SEBI) imposed a ₹6 lakh fine on EbixCash Limited and
its promoter entity Ebix Inc for non-compliance with disclosure norms.
● The fine was levied due to violations related to the company’s proposed Initial Public Offering
(IPO).
● SEBI imposed a fine of ₹3 lakh each on EbixCash Ltd and Ebix Inc for failing to adhere to the
disclosure norms.
Securities and Exchange Board of India halts trading in Bharat Global Developers over alleged lapses
● The Securities and Exchange Board of India (SEBI) suspended trading in Bharat Global
Developers, a company valued at over Rs 12,000 crore.
● The suspension followed lapses in the company's financial disclosures and fraudulent
preferential allotment practices.
Bajaj Allianz General Insurance launches two new motor insurance products
● Bajaj Allianz General Insurance, a leading non-life player, has introduced two motor insurance
add-on covers: Eco Assure—Repair Protection and Named Driver Cover.
● These covers aim to enhance value and customisation for policyholders.
About Bajaj Allianz General Insurance :
● Bajaj Allianz General Insurance stands as India's premier private general insurance company.
● It is a collaborative effort between Bajaj Finserv Limited, India's most diversified non-bank
financial institution, and Allianz SE, the world's leading insurer and largest asset manager.
● Bajaj Allianz General Insurance Company, a leading private general insurer in India, has selected
Snowflake AI Data Cloud to augment its data platform.
Tata Consultancy Services renews financial inclusion partnership with Bank of Baroda for five years

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 Important Monthly Current Affairs Capsule – December 2024

● Tata Consultancy Services (TCS) has extended its partnership with Bank of Baroda (BoB) for five
more years to continue its financial inclusion solution implementation across India.
● The deal aims to enhance banking services for India's unbanked populations, promoting financial
inclusion.
● The solution will facilitate essential banking services such as account opening, Immediate
Payment Service (IMPS) and National Electronic Funds Transfers (NEFT), and Aadhaar and
debit card-based transactions.
● The solution will streamline enrollment in government schemes like Pradhan Mantri Jeevan Jyoti
Bima Yojana and Atal Pension Yojana.
● This extension marks the fourth renewal of TCS's partnership with Bank of Baroda, which began
in 2010.
About TCS :
● Founded : 1968
● Headquarters : Mumbai, Maharashtra, India
● Chairman : Natarajan Chandrasekaran
● MD & CEO : K. Krithivasan
Reserve Bank of India's stance on cryptocurrency under scrutiny as bitcoin reaches $100,000

● The Reserve Bank of India (RBI) is closely monitoring the rise in cryptocurrency values,
particularly with the recent surge in Bitcoin, and its evolving stance will be observed following a
change in leadership at the central bank.
● The Securities and Exchange Board of India (Sebi) regulates cryptocurrencies that function as
securities and Initial Coin Offerings (ICOs).
● The Insurance Regulatory and Development Authority of India (IRDAI) and the Pension Fund
Regulatory and Development Authority (PFRDA) supervise insurance and pension-linked virtual
assets, respectively.
Reserve Bank of India Permits Prepaid Payment Instruments Users to Conduct UPI Transactions via
Third-Party Mobile Apps
● The Reserve Bank of India (RBI) has allowed UPI payments from/to full-KYC Prepaid Payment
Instruments (PPIs) through third-party UPI applications, as announced in its April 2024 Statement
on Development and Regulatory Policies.
● Eligibility: Only full-KYC PPIs are eligible for UPI transactions through third-party apps.
● PPIs must be linked to the customer's UPI handle for making/receiving UPI payments.

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 Important Monthly Current Affairs Capsule – December 2024

● PPI Definition: A Prepaid Payment Instrument (PPI) is a financial tool that allows users to store
funds on a card or digital wallet for future transactions, enhancing the ease of digital payments.
About RBI :
● Founded : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra
International Financial Services Centres Authority Grants Approval to 200th Fund; 13 Funds Relocate
from Singapore, Mauritius, and Dubai
● An Alternate Investment Fund (AIF) from an Indian financial services company has become the
200th fund to be granted approval in GIFT City in Gujarat that now houses 13 AIFs that have
relocated to India from foreign jurisdictions like Singapore, Mauritius and Dubai.
● Motilal Oswal’s Fund of Fund has become the 200th fund to be registered in GIFT IFSC.
● It is a private equity fund and will be investing into other funds in India.
About IFSCA :
● Headquarters : Gujarat
● Chairperson ; K Rajaraman
Sri Lanka's Central Bank Fines Indian Bank ₹5.8 Lakh for Violating Financial Transactions Reporting
Act
● The Central Bank of Sri Lanka's Financial Intelligence Unit has imposed a penalty on state-
owned Indian Bank for failing to comply with the Financial Transactions Reporting Act (FTRA)
No.6 of 2006 in Sri Lanka.
● The penalty amounts to Sri Lankan rupees (LKR) 2 million, equivalent to approximately ₹5.8 lakh.
● Indian Bank operates two branches in Sri Lanka, located in Colombo and Jaffna.
About Indian Bank :
● Founded : 15 August 1907
● Headquarters: Chennai, Tamil Nadu
YES BANK partners with FICCI FLO to launch YES PowherUp program for empowering women
entrepreneurs in MSMEs
● YES BANK, the sixth-largest private sector bank in India, in collaboration with FICCI FLO, South
East Asia’s largest women’s chamber of commerce, announced the launch of YES PowherUp, a
specialised MSME programme designed to empower women entrepreneurs in scaling their
businesses.

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 Important Monthly Current Affairs Capsule – December 2024

● YES PowherUp offers a comprehensive suite of financial solutions tailored to the unique needs of
women-led enterprises.
● YES PowherUp aims to provide the necessary support for businesses to establish, grow, and
succeed sustainably.
● National President of FICCI FLO : Joyshree Das Verma
About YES BANK :
● Founded : 2004
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Prashant Kumar
Aditya Birla Capital Becomes the First BFSI Firm to Provide Complete Financial Services on the Open
Network for Digital Commerce Platform
● Aditya Birla Capital has become the first BFSI company to offer all three core financial services
lending, insurance, and mutual fund investments on the Open Network for Digital Commerce
(ONDC) platform.
● This move aims to provide broader access to financial products, particularly in underserved
markets, and support financial inclusion across the country.
● CEO of Aditya Birla Capital Limited : Vishakha Mulye
● MD & CEO of ONDC : T. Koshy
Mahindra Tractors collaborates with Punjab National Bank to offer dealer financing solutions
● Mahindra Tractors, a part of Mahindra & Mahindra Limited, has partnered with Punjab National
Bank (PNB) to offer channel finance solutions to Mahindra Tractors' dealers.
● Eligibility: Dealers of Mahindra Tractors with a business vintage of over one year are eligible for
the channel finance program.
● Finance Limit: The program provides a finance limit of up to ₹5 crore, with the limit assessed
based on 105 days of sales.
About Punjab National Bank :
● Established : 19 May 1894
● Headquarters : Delhi, India
● MD & CEO : Atul Kumar Goel
Tata Power Renewable Energy Joins Canara Bank to Promote Rooftop Solar under PM Surya Ghar
Muft Bijli Yojana
● Tata Power Renewable Energy Limited (TPREL), a Tata Group subsidiary, has partnered with
Canara Bank to promote rooftop solar systems under the PM Surya Ghar Muft Bijli Yojana.

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 Important Monthly Current Affairs Capsule – December 2024

● Objective: The initiative aims to make rooftop solar systems more accessible and affordable for
households by providing tailored financing options under the PM Surya Ghar Scheme.
About PM Surya Ghar Muft Bijli Yojana:
● Launched by Prime Minister Narendra Modi on February 15, 2024.
● The goal is to provide free electricity to households, transforming India's energy landscape.
● Target: Reach 10 lakh households by March 2025 and 1 crore households by March 2027.
About Canara Bank :
● Founded : 1906
● Headquarters : Bangalore, Karnataka
● MD & CEO : K Satyanarayana Raju
Federal Bank Partners with Ecofy to Provide Financing Solutions for MSMEs Investing in Rooftop Solar
Installations
● Federal Bank, announced a partnership with Ecofy, India’s first green-only NBFC, backed by
Eversource Capital, to offer innovative financing solutions for MSMEs investing in commercial
rooftop solar installations.
● This collaboration marks one of the first comprehensive co-lending partnerships specifically
designed to address the unique solar financing needs of the MSME sector.
About Federal Bank :
● Headquarters : Aluva, Kerala
● MD & CEO : KVS Manian
Kotak Mahindra Bank Introduces BizLabs Accelerator Program to Support Early-Revenue Startups
● Kotak Mahindra Bank has launched the Kotak BizLabs accelerator programme as part of its
Corporate Social Responsibility (CSR) initiatives.
● The programme is designed to empower early-revenue stage startups.
● It is launched in collaboration with leading incubators such as IIMA Ventures, NSRCEL, and T-
Hub.
About Kotak Mahindra Bank :
● Founded : 6 February 2003
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Ashok Vaswani
HSBC India and Indian Hotels Company Launch India’s First Premium Co-Branded Hospitality Credit
Card

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 Important Monthly Current Affairs Capsule – December 2024

● HSBC (Hongkong and Shanghai Banking Corporation Limited) India and Indian Hotels Company
have launched the HSBC Taj Credit Card, India’s first premium co-branded hospitality credit
card.
● Target Audience: The card is designed for luxury enthusiasts, offering bespoke experiences and
exceptional services to discerning customers.
● Collaboration with Visa: The card has been launched in collaboration with Visa, catering to
individuals who seek luxury and exclusive travel experiences.
About HSBC Bank India :
● Founded : 1853
● Headquarters : Mumbai, Maharashtra, India
● CEO : Hitendra Dave
Securities and Exchange Board of India extends deadline by three years for Life Insurance Corporation
of India to meet 10% public shareholding requirement
● The Securities and Exchange Board of India (SEBI) has granted an additional three years of time
to the Life Insurance Corporation of India (LIC) to achieve 10% public shareholding.
● Under Rule 19(2)(b)(iv) of the Securities Contracts (Regulation) Rules, 1957, a company must
have a 10% public shareholding in 5 years from the date of listing.
● Accordingly, with SEBI's extension, the revised timeline for the insurance corporation to achieve
10% public shareholding is on or before May 16, 2027.
● The central government has earlier granted a one-time exemption to Life Insurance Corporation
of India (LIC) to achieve 25 per cent Minimum Public Shareholding (MPS) within 10 years since
its listing on the exchanges.
About LIC :
● Established on September 1, 1956, the oldest and the largest insurance firm was introduced with
a claimed objective of reaching out to all insurable individuals in the country, and providing them
with adequate financial cover at a reasonable cost.
● Headquarters : Mumbai, Maharashtra, India
Government to inject Rs 500 crore into IFCI to strengthen its financial stability
● The Indian government has approved a capital infusion of Rs 500 crore into the state-owned
Industrial Finance Corporation of India (IFCI) to improve its financial health.
● The infusion is part of a restructuring and consolidation plan for IFCI.

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 Important Monthly Current Affairs Capsule – December 2024

● History and Purpose of IFCI:IFCI, established on July 1, 1948, is the first development financial
institution in India. It was set up by the government to provide long-term finance for the industrial
sector.
Reserve Bank of India's New Guidelines 2025: 3 Types of Bank Accounts to Be Closed Starting
January 1, 2025
● Starting January 1, 2025, the Reserve Bank of India (RBI) will make three types of bank accounts
non-operative as part of a move to improve the banking system's efficiency, safety, and
transparency.
Types of Accounts Becoming Non-Operative:
● Dormant Accounts: Accounts that have not had any transactions for two years.
● Inactive Accounts: Accounts with no activity for a fixed period, often one year.
● Zero Balance Accounts: Accounts with no money deposited for a long time and a zero balance.
Reserve Bank of India Imposes Monetary Penalties on 4 Karnataka-Based Co-operative Banks for
Regulatory Non-Compliance
● The Reserve Bank of India (RBI) has imposed a penalty of ₹5.5 lakh on four cooperative banks in
Karnataka for not complying with its directions.
List of Penalties Imposed on Four Cooperative Banks in Karnataka :

Bank Name Penalty Amount Reason for Penalty RBI Directions

Violated

The Bharat Co- ₹3,00,000 Non-compliance Banking

operative Bank with specific Regulation Act,
Limited., directions under Sections 47A(1)(c),
Bengaluru ‘Supervisory Action 46(4)(i), and 56 of
Framework (SAF)’. the Banking
Regulation Act,
1949.

Swami Vivekanand ₹1,00,000 1. Failure to Exposure Norms,

Sahakari Bank adhere to Statutory
Niyamit, prudential inter- Restrictions, and
Nidagundi, bank (gross) and KYC
Karnataka counterparty

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 Important Monthly Current Affairs Capsule – December 2024

exposure limits.
2. Failure to upload
KYC records to
CKYCR within the
prescribed
timeline.

Sri Basaveshwara ₹1,00,000 1. Increased Supervisory Action

Pattana Sahakara exposure to high- Framework (SAF)
Bank Niyamit, NPA sectors.
Sindgi, Karnataka 2. Declared
dividend without
prior RBI
permission.

Manjra Mahila ₹50,000 Failure to upload Know Your

Urban Co- KYC records of Customer (KYC)
operative Bank customers to Directions
Limited, Bidar, CKYCR within the
Karnataka prescribed
timeline.

Reserve Bank of India Imposes Monetary Penalties on 5 Gujarat-Based Co-operative Banks for Non-
Compliance with Regulatory Directions
● The Reserve Bank of India (RBI) has imposed a total penalty of Rs12.10 lakh on 5 cooperative
banks from Gujarat for non-compliance with the directions issued by the banking regulator.

Bank Name Location Penalty Reasons for RBI Sections

Imposed Penalty Involved

Shree Laxmi Mehsana, ₹1.60 lakh -Non- Section

Mahila Gujarat compliance 47A(1)(c) read
Sahakari Bank with directions with Sections
Ltd. on ‘Placement 46(4)(i) and 56
of Deposits of the Banking

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 Important Monthly Current Affairs Capsule – December 2024

with Other Regulation

Banks’, ‘KYC’, Act, 1949;
and Section 25 of
‘Membership Credit
of Credit Information
Information Companies
Companies’ (Regulation)
- Failure to Act, 2005
adhere to
exposure limits
- Issues with
customer due
diligence and
KYC uploads

Shri Janata Halol, Dist. ₹2.00 lakh -Non- Section

Sahakari Bank Panchmahal, compliance 47A(1)(c) read
Ltd. Gujarat with directions with Sections
on ‘Loans and 46(4)(i) and 56
Advances to of the Banking
Directors and Regulation
their relatives’ Act, 1949
- Breach of
prudential
exposure limits

The Thasra Thasra, Dist. ₹3.00 lakh -Non- Section

People’s Co- Kheda, compliance 47A(1)(c) read
operative Bank Gujarat with directions with Sections
Ltd. on ‘Loans and 46(4)(i) and 56
Advances to of the Banking
Directors and Regulation
their relatives’ Act, 1949

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 Important Monthly Current Affairs Capsule – December 2024

- Sanctioning
of gold loans
exceeding
prescribed
LTV ratio

The Chanasma, ₹3.00 lakh -Non- Section

Chanasma Dist. Patan, compliance 47A(1)(c) read
Commercial Gujarat with directions with Sections
Co-operative on ‘Loans and 46(4)(i) and 56
Bank Ltd. Advances to of the Banking
Directors and Regulation
their relatives’ Act, 1949
- Failure to
carry out
periodic review
of risk
categorization
of accounts

Shree Dhandhuka, ₹2.50 lakh -Non- Section

Dhandhuka Dist. compliance 47A(1)(c) read
Janta Sahakari Ahmedabad, with directions with Sections
Bank Ltd. Gujarat on ‘Investment 46(4)(i) and 56
by UCBs’ and of the Banking
‘KYC’ Regulation
- Breach of Act, 1949
investment
limits
- Failure to
upload KYC
records of
customers

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 Important Monthly Current Affairs Capsule – December 2024

Reserve Bank of India Imposes ₹22.60 Lakh Penalty on 4 Madhya Pradesh Cooperative Banks and 1
Mumbai Bank for Regulatory Violations
● The Reserve Bank of India (RBI) has imposed a penalty of Rs 22.60 lakh on 4 cooperative banks
from Madhya Pradesh (MP) and one from Mumbai, Maharashtra for non-compliance with the
directions issued by the banking regulator.

Bank Name Location Penalty Reason for Regulatory

Amount Penalty Basis

Shri Vaibhav Maryadit, ₹1.00 lakh Non- Sections

Lakshmi Jhabua, MP compliance 47A(1)(c),
Mahila Nagrik with PSL 46(4)(i), and
Sahakari Bank targets and 56 of the
failure to Banking
contribute to Regulation
MSE Act, 1949
Refinance
Fund for FY
2022-23
despite
cautionary
letter.

Guna Nagarik Maryadit, ₹1.00 lakh Non- Sections

Sahakari Bank Guna, MP compliance 47A(1)(c),
with PSL 46(4)(i), and
targets and 56 of the
failure to Banking
contribute to Regulation
MSE Act, 1949
Refinance
Fund for FY
2022-23

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 Important Monthly Current Affairs Capsule – December 2024

despite
cautionary
letter.

Indore Maryadit, ₹4.50 lakh Non- Sections

Paraspar Indore, MP compliance 47A(1)(c),
Sahakari Bank with PSL 46(4)(i), and
targets and 56 of the
failure to Banking
contribute to Regulation
MSE Act, 1949
Refinance
Fund for FY
2022-23
despite
cautionary
letter.

Raj Maryadit, ₹1.10 lakh Non- Sections

Rajeshwari Shajapur, MP compliance 47A(1)(c),
Mahila Nagrik with PSL 46(4)(i), and
Sahakari Bank targets and 56 of the
failure to Banking
contribute to Regulation
MSE Act, 1949
Refinance
Fund for FY
2022-23
despite
cautionary
letter.

Bharat Co- - ₹15.00 lakh Non- Sections

operative Bank compliance 47A(1)(c),

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 Important Monthly Current Affairs Capsule – December 2024

(Mumbai) with RBI 46(4)(i), and

Limited directions on 56 of the
Income Banking
Recognition, Regulation
Asset Act, 1949
Classification,
Provisioning,
and failure to
classify loan
accounts as
non-
performing
assets.

DBS Bank introduces overseas education solutions offering free transfers and loans
● DBS Bank India launched the ‘DBS Study Abroad Total Assist’ program for NRIs and HNIs,
aimed at assisting with overseas education challenges.
● The program is designed for DBS Treasures customers.
● Target Audience: The program is specifically for non-resident Indians (NRIs) and high-net-worth
individuals (HNIs).
● The program offers coverage up to $1 million against unexpected events like illness, lost
baggage, or accidents, providing financial protection during studies abroad.
About DBS Bank India :
● Established: 1994
● Headquarters: Mumbai, Maharashtra
● Managing Director and CEO: Surojit Shome
● Tagline: "Live more, Bank Less"

AWARDS AND HONOUR

Indira Gandhi Prize for Peace, Disarmament, and Development 2023

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 Important Monthly Current Affairs Capsule – December 2024

• The Indira Gandhi Prize for Peace, Disarmament, and Development for 2023 was awarded
to Daniel Barenboim, a world-renowned pianist and conductor, and Ali Abu Awwad, a Palestinian
peace activist.
• This prestigious honour highlights their exceptional efforts in fostering peace and non-violence
across cultural and political divides.
GAIL Wins "Initiatives in Promoting Hydrogen Company of the Year" Award at FIPI Oil & Gas Awards
2023
• GAIL (India) Limited has been honoured with the prestigious "Initiatives in Promoting Hydrogen
Company of the Year" award at the FIPI Oil & Gas Awards 2023.
• The award was presented by Hardeep S Puri, Union Minister of Petroleum and Natural Gas,
during a ceremony held in New Delhi.
• The event was also attended by Suresh Gopi, Union Minister of State for Petroleum and Natural
Gas, and Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas (MoPNG).
Tanker and tugboat crews receive the 2024 IMO Bravery Award
• Presented to:
o Captain Avhilash Rawat and the crew of oil tanker Marlin Luanda.
o Captain Jorge Fernando Galaviz Fuentes and the crew of tugboat Pemex Maya.
• Occasion: Annual IMO Awards Ceremony on 2 December 2024 in London.
• Ceremony Context: Held after the first day of the Maritime Safety Committee (MSC 109) session
(2–6 December 2024).

BHEL wins CII-EXIM Bank Award for Business Excellence – 2024

• Recipient: Bharat Heavy Electricals Limited (BHEL).
• Achievement: Won the prestigious CII-EXIM Bank Award for Business Excellence for the second
consecutive year.
• Recognition Basis:
o The award is modeled on the internationally recognized EFQM (European Foundation for
Quality Management) excellence framework.
o Highlights BHEL’s commitment to resilience, adaptability, and continuous improvement in
a dynamic business environment.

President Of India Confers National Awards For Empowering Persons With Disabilities To 33
Exemplary Individuals And Institutions

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 Important Monthly Current Affairs Capsule – December 2024

National Awards for Empowering Persons with Disabilities 2024

• Event: International Day of Persons with Disabilities 2024.
• Venue: New Delhi.
• Presided By: President of India, Smt. Droupadi Murmu.
• Key Dignitaries:
o Dr. Virendra Kumar, Union Minister for Social Justice and Empowerment.
o Shri Rajesh Aggarwal, Secretary, Department of Empowerment of Persons with
Disabilities (DEPwD).
ESIC bags 4 certificates of merit in different categories at Regional Social Security Forum for Asia and
the Pacific (RSSF Asia-Pacific) event
• The Employees' State Insurance Corporation (ESIC) received four certificates of merit at the
Regional Social Security Forum for Asia and the Pacific (RSSF Asia-Pacific), organized by the
International Social Security Association (ISSA) in Riyadh, Saudi Arabia, on December 3, 2024.
• The awards were received by Shri Ashok Kumar Singh, Director General of ESIC, on behalf of
the corporation.

Indian-origin artist wins Turner Prize: ‘Weaves personal, political, spiritual’

• Jasleen Kaur has won the 2024 Turner Prize for her work animating everyday objects to reflect
the pluralities of identity and community.
• Kaur, 38, the youngest artist on this year’s shortlist, was nominated for her exhibition Alter Altar,
at Tramway in Glasgow, which featured a range of sculptures and soundscapes.
• Among the items included was a red Ford Escort covered in a huge doily, a reference to her
father’s first car and to Indians who migrated to Britain and worked in textile factories.
Payal Kapadia’s All We Imagine As Light Shines with Golden Globes Nominations
• Indian filmmaker Payal Kapadia’s feature debut, All We Imagine As Light, has achieved a
significant milestone with two nominations at the 82nd Golden Globes Awards:
• Best Motion Picture – Non-English Language
• Best Director – Motion Picture

Michelle Bachelet to Receive 2024 Indira Gandhi Prize for Peace, Disarmament, and Development
• The Indira Gandhi Prize for Peace, Disarmament, and Development for 2024 has been awarded
to Michelle Bachelet, former President of Chile and a globally recognised advocate for human
rights and equality.

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 Important Monthly Current Affairs Capsule – December 2024

• The international jury announced the award, chaired by former National Security Advisor
Shivshankar Menon.
• According to a statement by the Indira Gandhi Memorial Trust, Michelle Bachelet was selected
for her:
Google Play's Best of 2024 Awards: India Shines with AI and Gaming Innovations
• Google Play has announced its Best of 2024 awards for India, recognizing significant mobile app
and game innovations, particularly in the artificial intelligence (AI) and gaming sectors.
• Best App and Best for Fun awards were won by Alle, an AI-powered fashion styling app.
• Alle provides personalized fashion advice based on users' body type, facial features, and
occasions.
Donald Trump Honored as "Patriot of the Year" in New York
• US President-elect Donald Trump was awarded the "Patriot of the Year" honour at the Tilles
Centre in New York.
• The event, organized by Fox Nation, celebrated America's patriots, including military veterans,
first responders, and inspirational figures.
• Trump called his election victory night "tremendous" in his acceptance speech.
• The event served as an acknowledgment of his contributions and support for patriotic causes.
Indian Ecologist Madhav Gadgil Honored as UNEP Champion of the Earth 2024
• Renowned Indian ecologist Madhav Gadgil has been named one of the six Champions of the
Earth for 2024 by the United Nations Environment Programme (UNEP).
• This prestigious accolade is the UN's highest environmental honor, awarded in recognition of
Gadgil's lifetime achievement in protecting ecosystems and empowering communities.

Bharati Kolli: A Rising Star in Banking Leadership for 2024

• Bharati Kolli, a trailblazer in the banking sector, has been recognized as one of the Rising Star
Women Leaders of Banking for 2024 by the esteemed group, Women We Admire.
• This accolade highlights her outstanding contributions, particularly in the field of data
management, and underscores her influence as a leader in banking and financial services.
A.R. Rahman Named Honorary President of Trinity Laban Conservatoire
• Two-time Oscar-winning composer A.R. Rahman has been named the Honorary President of
Trinity Laban, the United Kingdom's leading conservatoire for music, musical theatre, and
contemporary dance.

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 Important Monthly Current Affairs Capsule – December 2024

• His five-year term places him alongside distinguished predecessors like conductor Charles
Mackerras and violinist Yehudi Menuhin.

Donald Trump Named Time Magazine's 2024 Person of the Year

• Time magazine has named Donald Trump its Person of the Year for 2024, marking the second
time the former and now re-elected U.S. President has received the honor.
• On November 5, 2024, Trump won over Vice President Kamala Harris, securing his return to the
White House.
• Trump previously received the Person of the Year title in 2016, following his first presidential
election win.
Shaji N Karun: Honored with JC Daniel Award 2023 for Lifetime Contributions to Malayalam Cinema
• Renowned filmmaker Shaji N Karun has been awarded the JC Daniel Award 2023, the highest
honor in Kerala cinema, for his extraordinary lifetime contributions to Malayalam cinema.
• This recognition celebrates his pivotal role in shaping new-wave cinema and bringing Malayalam
films to international acclaim.
Suryabala's "Kaun Des Ko Vasi: Venu Ki Diary" Wins the 34th Vyas Samman 2024
• Renowned Hindi writer Suryabala has been awarded the prestigious 34th Vyas Samman for her
novel "Kaun Des Ko Vasi: Venu Ki Diary", published in 2018.
• Instituted by the KK Birla Foundation in 1991, the award honours outstanding Hindi literary works
by Indian citizens published in the last 10 years.
D Gukesh: Youngest World Chess Champion Honored with ₹5 Crore Prize
● Tamil Nadu Chief Minister MK Stalin announced a ₹5 crore cash reward for Chennai-based
Grandmaster D Gukesh after his historic achievement of becoming the youngest World Chess
Champion.
● At just 18 years old, D Gukesh became the youngest player to win the World Chess Championship,
defeating reigning champion Ding Liren of China in the final game of the 14-match series in
Singapore.
● Gukesh secured 7.5 points to Ding's 6.5, clinching victory in the classical time-control format.
● As the winner, Gukesh will receive USD 1.3 million (₹11.03 crore) from the tournament's USD 2.5
million prize pool.
● Gukesh is the second Indian to win the World Chess Championship, following in the footsteps of
Viswanathan Anand, a five-time world champion.
Nupi Lal Numit 2024: Honoring Manipuri Women’s Bravery and Resilience

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 Important Monthly Current Affairs Capsule – December 2024

● Manipur recently observed Nupi Lal Numit 2024 to honour the courageous women who played
pivotal roles in the Nupi Lal uprisings of 1904 and 1939.
● Held at the Nupi Lal Memorial Complex, the event, led by Chief Minister N. Biren Singh, underscored
the enduring legacy of women’s strength in shaping Manipur's history and progress.
Historical Significance of the Nupi Lal Uprisings
● First Uprising (1904):
Women protested against British-imposed forced labor, demanding justice and asserting their
rights.
● Second Uprising (1939):
Women fought against economic exploitation by colonial powers, particularly the manipulation of
rice prices, which led to famine-like conditions.
● These uprisings showcased the leadership and unity of Manipuri women, paving the way for
significant social and political reforms.
Patricia Mukhim and Activists Honored for Peace-Building Efforts
● Women in Security, Conflict Management and Peace (WISCOMP) honored 10 peacebuilders for
their exceptional work with women in areas of prolonged conflict across South Asia.
● The Saahas Awards Ceremony, held at the India International Centre, New Delhi, marked a
celebration of grassroots contributions to fostering peace and gender equality.
● Organizers: WISCOMP, an initiative of the Foundation for Universal Responsibility of His Holiness
the Dalai Lama.
Major Awardees and Contributions
1. Patricia Mukhim
o Award: Saahas Shrestha: Shero of Courage.
o Recognition: For her role as Editor of The Shillong Times and her exceptional
contributions to peace-building in India’s northeast.
o Quote: "The challenges persist because we don’t know the steps towards conflict
transformation. We jump to resolution," she stated during her speech.
2. Laxmi Chetri (Action Northeast Trust)
o Award: Shakti Award.
o Contribution: Advocacy for women subjected to gender-based violence.
3. Deepa Pawar (Anubhuti Charitable Trust)
o Award: Shakti Award.
o Contribution: Empowering marginalized women from nomadic communities.

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 Important Monthly Current Affairs Capsule – December 2024

4. Conflict Victim Women National Network, Nepal

o Award: Chetna Award.
o Contribution: Psycho-social support for female victims of conflict in Nepal.
5. Omar Hafiz
o Award: Chetna Award.
o Contribution: Advocacy for gender rights in Kashmir.
Vinícius Júnior Named The Best FIFA Men’s Player for 2024
● Vinícius Júnior, Brazilian and Real Madrid forward, has been crowned The Best FIFA Men’s Player
for the first time.
● He is the first Brazilian to win the award since 2007 and the first in its current format.
PepsiCo India Hosts RevolutioNari Conference and Awards 2024 to Empower Women in Agriculture
● PepsiCo India reinforced its commitment to women empowerment in agriculture by launching the
RevolutioNari Conference and Awards 2024 in New Delhi.
● This initiative, grounded in PepsiCo India’s philosophy of "Partnership in Progress", recognizes and
celebrates the achievements of women farmers across India.
RevolutioNari Initiative
● Objective: Empower 1 million women in agriculture across India by 2026.
● Launch of the RevolutioNari Anthem, symbolizing PepsiCo India’s dedication to women
empowerment.
Award Categories and Winners
1. Breaking Gender Stereotypes & Implementing Best Farming Practices
o Gold: Tapasi Pal (West Bengal)
o Silver: Sanju Yogi (Rajasthan)
2. Economic Empowerment through SHGs
o Gold: Ganapathi SHG (Telangana)
o Silver: Sarayan Farmer Producer Company (Uttar Pradesh)
3. Innovation in Sustainable Agriculture
o Gold: Shivani Kisku (Jharkhand)
o Silver: Manguben Jaga (Gujarat)
4. Protection and Promotion of Native Indigenous Food Systems
o Gold: Monika Mohite (Maharashtra)
o Silver: Sujata Paramanik (West Bengal)
5. Youth Innovators in Agriculture

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 Important Monthly Current Affairs Capsule – December 2024

o Gold: Surbhi Kumari (Bihar)

o Silver: Anima Aind (Jharkhand)
Arun Kapur Honored with Bhutan’s Prestigious ‘Dasho’ Title
● Arun Kapur, a renowned educationist with remarkable contributions to the education sector in India,
Bhutan, and Oman, was honored by Bhutan’s King Jigme Khesar Namgyel Wangchuck.
● At the 117th Bhutanese National Day celebrations in Thimphu, he was conferred the Red Scarf and
the title of ‘Dasho’, signifying an extraordinary achievement.
Sahitya Akademi Awards 2024: Honoring Literary Excellence Across Languages
● The Sahitya Akademi Awards 2024 celebrated the remarkable contributions of 21 writers and poets
across various Indian languages.
● This prestigious honor recognizes outstanding works in novels, poetry, short stories, essays, plays,
literary criticism, and research.
Highlights of the Awards
1. Diverse Categories:
o 8 Poetry Collections
o 3 Novels
o 2 Short Story Collections
o 3 Essays
o 3 Literary Criticism Works
o 1 Play
o 1 Research Work
2. Notable Winners:
o Hindi: Gagan Gill for her poetry collection Main Jab Tak Aai Bahar.
o English: Easterine Kire for her novel Spirit Nights.
o Kashmiri: Sohan Kaul for her novel Psychiatric Ward.
o Punjabi: Paul Kaur for her poetry book Sun Gunvanta Sun Budhivanta: Itihaasnama
Punjab.
3. Poetry Winners:
o Malayalam: K Jayakumar
o Manipuri: Haobam Satyabati Devi
o Gujarati: Dileep Jhaveri
o Assamese: Sameer Tanti
o Rajasthani: Mukut Maniraj

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 Important Monthly Current Affairs Capsule – December 2024

o Sanskrit: Dipak Kumar Sharma

4. Novel Winners:
o Bodo: Aron Raja for Swrni Thakhai.
5. Short Story Winners:
o Nepali: Yuva Baral for Chhichimira.
o Sindhi: Hundraj Balwani for Purzo.
6. Essays:
o Konkani: Mukesh Thali
o Maithili: Mahendra Malangia
o Odia: Baishnab Charan Samai
7. Other Categories:
o Research: AR Venkatachalapathy (Tamil)
o Play: Maheshwar Sorn (Santali) for Seched Sawnta Ren Andha Manmi.
o Literary Criticism:
▪ KV Narayana (Kannada)
▪ Sudhir Rasal (Marathi)
▪ Penugonda Lakshminarayana (Telugu)
Arun Kapur Honoured with Bhutan's Prestigious Red Scarf and ‘Dasho’ Title
● Indian educationist Arun Kapur has been recognized for his outstanding contributions to education in
India, Bhutan, and Oman.
● At the 117th Bhutanese National Day celebrations held at the Changlimithang Stadium in Thimphu,
Bhutan’s King Jigme Khesar Namgyel bestowed upon Kapur the prestigious Red Scarf and the
honorary title ‘Dasho’, a distinction rarely conferred upon non-residents.
Caitlin Sandra Neil Crowned Miss India USA 2024
● Caitlin Sandra Neil, a 19-year-old Indian-American born in Chennai, India, has been crowned Miss
India USA 2024 at the annual pageant held in New Jersey.
● Currently a second-year student at the University of California, Davis, Caitlin aspires to empower
women and promote literacy while pursuing her dreams in web design, modeling, and acting.
Kuwait Confers Its Highest Honour on Prime Minister Narendra Modi
● Kuwait has awarded its highest accolade, the Order of Mubarak Al-Kabeer, to Prime Minister
Narendra Modi for his leadership and dedication to strengthening relations between India and
Kuwait.
● The Order of Mubarak Al-Kabeer is a prestigious knighthood order instituted in 1974.

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 Important Monthly Current Affairs Capsule – December 2024

● Presented By: Kuwait’s Amir Sheikh Meshal Al-Ahmad Al-Jaber Al Sabah at the Bayan Palace in
Kuwait.
● PM Modi’s visit marks the first by an Indian Prime Minister to Kuwait in 43 years.
● This is PM Modi’s 20th international honour, with previous recognitions from countries like:
o Saudi Arabia, UAE, and Bahrain for fostering Gulf ties.
o Guyana and Dominica for contributions during the COVID-19 pandemic.
o Nigeria for statesmanship, as the Grand Commander of the Order of the Niger.
Santosh Ajmera Receives International Electoral Award for Citizens’ Engagement
● Santosh Ajmera, an Indian Information Service (IIS) officer of the 2008 batch, has won an
international award for effectively engaging citizens during the country's general elections.
● Award: International Electoral Award for Citizens’ Engagement 2024.
● Organized by: International Centre for Parliamentary Studies (ICPS).
● Presentation: During a three-day symposium in the Dominican Republic.
S. Jaishankar Honored with Sri Chandrasekarendra Saraswathi National Eminence Award
● External Affairs Minister S. Jaishankar received the Sri Chandrasekarendra Saraswathi National
Eminence Award for Public Leadership from the South Indian Education Society (SIES) for his
exceptional contributions to India's foreign policy and global leadership.
● Jaishankar reflected on Maha Periyavar’s teachings, particularly the message of universal
brotherhood conveyed through the musical composition Maithreem Bhajatham.
Rashtriya Ispat Nigam Limited (RINL) Wins Gold Award for Energy Conservation
● Rashtriya Ispat Nigam Limited (RINL), the corporate entity of the Visakhapatnam Steel Plant (VSP),
has been awarded the Gold Award at the Andhra Pradesh State Energy Conservation Award 2024.
● This prestigious recognition celebrates RINL’s innovative and impactful energy-saving measures in
the iron and steel sector.
● The award was conferred by the State Energy Conservation Mission of Andhra Pradesh during the
Energy Conservation Week celebrations in Vijayawada.

APPOINTMENTS & RESIGNATIONS

Dr. Jaiteerth Raghavendra Joshi Appointed as the New Head of BrahMos Aerospace
• Dr. Jaiteerth Raghavendra Joshi has been appointed as the new Chief of BrahMos Aerospace,
the organization responsible for the development of the world's most powerful supersonic cruise
missile system, BrahMos.

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 Important Monthly Current Affairs Capsule – December 2024

• Dr. Joshi has a career spanning over three decades, making significant contributions to missile
technology, non-destructive testing (NDT), and the professional development of industry experts.

Jay Shah assumes the role of the new International Cricket Council chairman
• Jay Shah officially took over as the chairman of the International Cricket Council (ICC) on
December 1, 2024, at the age of 36, making him the youngest-ever ICC chairman.
• Shah replaces Greg Barclay, the outgoing New Zealand lawyer, who did not seek a third
consecutive term.
• Shah is the 5th Indian to hold the position, following prominent figures like Jagmohan Dalmiya,
Sharad Pawar, Shashank Manohar, and N Srinivasan.
About ICC :
• Formation : 15 June 1909
• Headquarters : Dubai, United Arab Emirates
Gautam Hari Singhania named Executive Chairman of Raymond Lifestyle
• Gautam Hari Singhania has been appointed as the Executive Chairman of Raymond Lifestyle
after receiving approval from shareholders.
• The proposal for his appointment and remuneration was approved by 86.85% of the votes cast at
the company's Annual General Meeting (AGM)
• In addition to Singhania's appointment, shareholders approved eight other special resolutions,
including the appointment of Independent Directors and Sunil Kataria as the Managing Director.
Justice Manmohan Appointed as Judge of the Supreme Court
• Justice Manmohan, the Chief Justice of the Delhi High Court, has been appointed as a Judge of
the Supreme Court of India, effective from the date he assumes charge of his office.
• The appointment was made under Article 124(2) of the Constitution of India, which empowers the
President to appoint Supreme Court judges.
• Justice Vibhu Bakhru, the senior-most puisne judge of the Delhi High Court, has been appointed
as the Acting Chief Justice of the Delhi High Court following Justice Manmohan’s elevation.
Devendra Fadnavis to Take Oath as Maharashtra Chief Minister, Eknath Shinde Keeps His Role in
Suspense
• Devendra Fadnavis is set to take oath as the Chief Minister of Maharashtra for the third time.
• Eknath Shinde (Shiv Sena) and Ajit Pawar (NCP) will take oath as Deputy Chief Ministers.
• Devendra Fadnavis was unanimously elected as the Leader of the Maharashtra BJP Legislative
Party.

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 Important Monthly Current Affairs Capsule – December 2024

• The swearing-in ceremony will be attended by Prime Minister Narendra Modi and Chief Ministers
from various NDA states.
About Maharashtra
• Governor: C. P. Radhakrishnan
• Capital: Mumbai
• National Park: Tadoba National Park, Navegaon National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife
Sanctuary
• UNESCO Heritage Sites: Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco
Ensemble of Mumbai, Ajanta Caves, Elephanta Caves, Ellora Caves

ixigo Appoints Indian Cricketer Rohit Sharma as Brand Ambassador for Trains App
• Indian cricketer Rohit Sharma has been onboarded as the brand ambassador for ixigo's Trains
app.
• This partnership is set to elevate ixigo’s reach across the nation, solidifying its position as the
ultimate app for seamless, innovative, and reliable train travel experiences.
• As part of this collaboration, ixigo Trains is unveiling a dynamic new advertisement featuring
Sharma in a rapping ticketman avatar.
• CEO of ixigo Trains : Dinesh Kumar Kotha

National Securities Depository Limited appoints financial market veteran Vijay Chandok as new
Managing Director and Chief Executive Officer
• Vijay Chandok, a financial market veteran, has been appointed as the new Managing Director
(MD) and Chief Executive Officer (CEO) of NSDL (National Securities Depository Limited.).
• Before joining NSDL, he served as the MD and CEO of ICICI Securities. He held key roles at the
ICICI Group, including being an executive director on the board of ICICI Bank.
Government names Vaibhav Chaturvedi as Reserve Bank of India representative on the Insolvency and
Bankruptcy Board of India board
• The government has appointed Vaibhav Chaturvedi as an ex-officio member of the Insolvency
and Bankruptcy Board of India (IBBI).
• Chaturvedi is currently serving as the Chief General Manager at the Reserve Bank of India (RBI).
• This appointment highlights the RBI's continued involvement in the insolvency ecosystem,
strengthening its collaboration with other regulatory and enforcement agencies.

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 Important Monthly Current Affairs Capsule – December 2024

About IBBI :
• The IBBI was established in 2016 under the Insolvency and Bankruptcy Code (IBC), 2016.
• It is responsible for the implementation of the Insolvency and Bankruptcy Code, focusing on
insolvency resolution and promoting transparency and accountability.
• The IBBI board includes members from various regulatory bodies such as the Ministry of
Finance, Ministry of Corporate Affairs, RBI, and Sebi.
• The IBBI is a statutory body functioning under the Corporate Affairs Ministry.
BJP's Rahul Narwekar Poised to Be Elected Maharashtra Assembly Speaker Unopposed
• Rahul Narwekar, a Bharatiya Janata Party (BJP) leader, is set to be elected unopposed as the
Speaker of the Maharashtra Legislative Assembly.
• The opposition alliance, Maha Vikas Aghadi (MVA), has decided not to contest his candidacy.
• Narwekar served as the Speaker during the 14th Maharashtra Legislative Assembly for two and
a half years.
About Maharashtra :
• Governor: C. P. Radhakrishnan
• Chief Minister: Devendra Fadnavis
• Capital: Mumbai
• National Park: Tadoba National Park, Navegaon National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife
Sanctuary
• UNESCO Heritage Sites: Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco
Ensemble of Mumbai, Ajanta Caves, Elephanta Caves, Ellora Caves
Mohammad Al-Bashir: Engineer and Gas Company Veteran Appointed as Syria's New Prime Minister
• Mohammad al-Bashir was appointed as the transitional Prime Minister of Syria following the
collapse of the Bashar al-Assad regime.
• He will lead the interim government until March 1, 2025, tasked with bringing stability to a war-
torn Syria after 13 years of civil conflict.
• Bashar al-Assad, the former President of Syria, fled to Moscow after being ousted by rebel forces
led by Abu Mohammed al-Jolani.
About Syria :
• Capital : Damascus
• Currency : Syrian pound

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 Important Monthly Current Affairs Capsule – December 2024

Donald Trump Appoints Jared Isaacman as NASA Chief to Oversee Moon Missions
• United States (US) President-elect Donald Trump appointed Jared Isaacman, a billionaire
entrepreneur and space enthusiast, as his choice to lead NASA.
• Isaacman’s Role at NASA: As NASA’s chief, Isaacman will manage NASA’s $25 billion budget
and oversee major projects, including the Artemis program, which is focused on returning
astronauts to the Moon.
• Isaacman is the CEO of Shift4 Payments, a major payment processing company.
Union Government Appoints Revenue Secretary Sanjay Malhotra as Reserve Bank of India Governor
• Sanjay Malhotra has been appointed as the 26th Governor of the Reserve Bank of India (RBI).
• The announcement was made on December 9, 2024, a day before Shaktikanta Das’s six-year
term ends on December 10, 2024.
• Malhotra will assume office amid ongoing economic challenges, including persistent inflation and
a slowdown in growth.
• His first major task will be the monetary policy review from February 5 to 7, 2025, where he will
focus on balancing growth and inflation.

Ajay Seth Given Additional Responsibility as Revenue Secretary

• Ajay Seth, the Economic Affairs Secretary, has been given the additional charge of the Revenue
Department.
• This change comes in the wake of Sanjay Malhotra's appointment as the Governor of the
Reserve Bank of India (RBI), effective December 11, 2024.
• Sanjay Malhotra served as Revenue Secretary for two years, overseeing the administration of
direct and indirect taxes.

Poonawalla Fincorp names Salil Hajarnis as CTO following Dhiraj Saxena's resignation over
'harassment' claims
• Salil Hajarnis has been appointed as the Chief Technology Officer (CTO) of Poonawalla Fincorp,
a non-banking finance company (NBFC) promoted by the Cyrus Poonawalla Group.
• He will lead the company’s technology strategy with a focus on digital transformation and AI-
driven customer solutions.
About Poonawalla Fincorp :
• Founded : 1988
• Headquarters : Pune, Maharashtra, India

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 Important Monthly Current Affairs Capsule – December 2024

• Chairman : Adar Poonawalla

• MD & CEO : Arvind Kapil
TransUnion CIBIL names Bhavesh Jain as Managing Director & Chief Executive Officer
• Bhavesh Jain has been appointed as the Managing Director and Chief Executive Officer (MD &
CEO) of TransUnion CIBIL, replacing Rajesh Kumar, who resigned after a five-year tenure.
• Prior to his appointment, Bhavesh Jain held the position of Chief Revenue Officer at TransUnion
CIBIL.
About TransUnion CIBIL :
• Founded : August 2000
• Headquarters : Mumbai, Maharashtra, India
France's Macron Appoints Veteran Centrist Francois Bayrou as Prime Minister
● French President Emmanuel Macron appointed Francois Bayrou, a centrist ally, as Prime
Minister on December 13, 2024, after a historic parliamentary vote ousted the previous
government.
About France :
● Capital : Paris
● Currency : Euro
Jeh Wadia rejoins boards of Wadia Group companies
● Jehangir (Jeh) Wadia, the younger son of Nusli Wadia, has rejoined the boards of Wadia Group
companies after a three-year hiatus.
● He had relocated to London in March 2021, after resigning from all Wadia Group boards.
● The decision for his return followed discussions between Jehangir (51) and Nusli Wadia (81)
aimed at infusing younger entrepreneurial energy into the group.
● Jehangir Wadia is reappointed to a non-executive role in Britannia and is expected to take
charge of Bombay Dyeing as Managing Director.
● Nusli Wadia, at 81 years old, has been leading the group for about 60 years but recognizes the
need for younger leadership to work alongside professionals.
● Ness Wadia, Jehangir’s elder brother (53), is the managing director of Bombay Burmah and
National Peroxide and works alongside his father.
● Wadia Group's Market Presence:The Wadia Group consists of publicly traded companies like
Britannia, Bombay Dyeing, National Peroxide, and Bombay Burmah.
● The group’s combined market capitalisation stands at Rs 1.38 lakh crore.
About Wadia Group :

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 Important Monthly Current Affairs Capsule – December 2024

● Founded : 1736
● Headquarters : Mumbai, Maharashtra, India
RBI approves appointment of Manish Jain as Executive Director at YES Bank
● The Reserve Bank of India (RBI) has approved Manish Jain’s appointment as Executive Director
(Whole-time Director) of YES Bank for a period of three years, from December 11, 2024, to
December 10, 2027.
● The appointment was approved by the Reserve Bank of India (RBI) under Section 35B of the
Banking Regulation Act, 1949.
About YES Bank :
● Founded : 2004
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Prashant Kumar
Google names Preeti Lobana as Country Manager and Vice President for India
● Preeti Lobana has been appointed as the new Country Manager and Vice President for Google
India.
● She succeeds Sanjay Gupta, who transitioned to the role of President for the Asia Pacific region
at Google.
● Lobana will collaborate with Roma Datta Chobey, who will continue her leadership role as the
Managing Director for Google India's Digital Native Industries after serving as interim country
manager.
Role and Responsibilities:
● Lobana will lead Google's strategy to leverage Artificial Intelligence (AI) for Indian customers and
promote innovation.
● She will focus on driving sales and operations in India, contributing to the country’s growing
digital economy.
Mukesh Ambani appoints Ira Bindra as Group President of Human Resources at Reliance Industries
Limited
● Mukesh Ambani, the richest Asian, appointed Ira Bindra as the Group President of Human
Resources at Reliance Industries Limited (RIL).
● Role and Responsibilities: Ira Bindra will oversee the people, leadership, and talent functions at
RIL, focusing on driving transformation across the entire organization.
● Her appointment is expected to lead to unprecedented HR transformation at RIL, aligning with
the company's focus on evolving its people policies.

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 Important Monthly Current Affairs Capsule – December 2024

● Ira Bindra will be the first non-family woman to join the Executive Committee of Reliance
Industries.
● She is also the youngest person to be appointed to this prestigious position.
About RIL :
● Founded : 1958
● Headquarters : Mumbai, Maharashtra, India
● Chairman & Managing Director : Mukesh Ambani
SBI appoints Rama Mohan Rao Amara as MD
● The Appointments Committee of the Cabinet (ACC) has approved the appointment of Rama
Mohan Rao Amara as the Managing Director (MD) of State Bank of India (SBI) for a term of three
years, effective from the date he assumes charge, or until further orders.
● The appointment is for three years, with a possible extension based on a performance review,
until he reaches the age of superannuation on 29 February 2028.
● Before his appointment, he served as the Deputy Managing Director (DMD) at SBI and has
previously held key positions, including Chief General Manager of SBI’s Bhopal Circle, where he
oversaw operations in Madhya Pradesh and Chhattisgarh.
Indian REITs Association appoints Alok Aggarwal as Chairman
● The Indian REITs Association (IRA) has appointed Alok Aggarwal, the Managing Director (MD)
and CEO of Brookfield India Real Estate Trust, as its new Chairman.
● Established in 2023, the Indian REITs Association is a non-profit trade organization that focuses
on promoting the REITs sector in India.
● Alok Aggarwal’s Role: As MD and CEO of Brookfield India Real Estate Trust, Aggarwal brings
significant expertise in the real estate and investment sectors to the role.
Hyundai extends Unsoo Kim's tenure as Managing Director for another 3 years from January 2025
● Unsoo Kim has been reappointed as the Managing Director (MD) of Hyundai Motor India for a
term of three years, starting from January 25, 2025.
● The reappointment was approved by the company’s board and recommended in a regulatory
filing.
● Pradeep Chugh has been appointed as the company secretary of Hyundai Motor India, effective
immediately.
● He replaced Divya Venkat, who resigned from the position.
About Hyundai Motor India :
● Founded : 6 May 1996

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 Important Monthly Current Affairs Capsule – December 2024

● Headquarters : Gurgaon, Haryana, India

● HMIL is the Indian subsidiary of the South Korean automobile manufacturer Hyundai Motor
Company.
● It is the second largest car manufacturer in India.
● Maruti Suzuki is India's largest car manufacturer.
WTO General Council Approves Dr. Ngozi Okonjo-Iweala's Reappointment as Director-General for
Second Term Starting September 2025
● The World Trade Organization (WTO) General Council unanimously agreed to reappoint Dr.
Ngozi Okonjo-Iweala as the Director-General for a second four-year term, starting from
September 1, 2025.
● Dr. Ngozi Okonjo-Iweala is former Minister of Finance for the Federal Republic of Nigeria.
● Ngozi Okonjo-Iweala is the 7th Director-General of the WTO.
● Dr. Ngozi Okonjo-Iweala first assumed office as Director-General on 1 March 2021, becoming
the first woman and first African to lead the WTO.
● Her first term concludes on 31 August 2025.
About WTO :
● Founded : 1 January 1995
● Headquarters : Geneva, Switzerland
● Membership : 166 members (162 UN member states, the European Union, Hong Kong, Macao,
and Taiwan)
France: Emmanuel Macron appoints Francois Bayrou as the new Prime Minister
● French President Emmanuel Macron appointed Francois Bayrou as the new Prime Minister of
France following a no-confidence vote against the previous government.
● Francois Bayrou is the 4th Prime Minister appointed in 2024, with Michel Barnier being the
previous Prime Minister, who served only three months.
● Michel Barnier holds the record for the shortest serving Prime Minister in French history, having
served for only three months.
● The Prime Minister of France is the head of government in the French Republic, holding the
second-highest office in the country after the President.
● In January 2024, Gabriel Attal became the youngest Prime Minister of France.
About France :
● President : Emmanuel Macron
● Prime Minister : François Bayrou

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 Important Monthly Current Affairs Capsule – December 2024

● Capital : Paris
● Currency : Euro
Netumbo Nandi-Ndaitwah Makes History as Namibia's First Female President-Elect
● Netumbo Nandi-Ndaitwah has been elected as Namibia’s first female president, securing 57% of
the vote in the November 27, 2024 election.
● Nandi-Ndaitwah represents Namibia's ruling party, SWAPO (South West Africa People's
Organization), which has been in power since Namibia's independence in 1990.
● She defeated Panduleni Itula of the Independent Patriots for Change (IPC), who garnered 26% of
the vote.
About Namibia :
● Prime Minister : Saara Kuugongelwa
● Capital : Windhoek
● Currency : Namibian dollar (NAD)
Masato Kanda appointed as the 11th President of Asian Development Bank
● Masato Kanda has been elected as the 11th President of the Asian Development Bank (ADB).
● Kanda, aged 59, is currently serving as Special Advisor to Japan’s Prime Minister and Minister of
Finance.
● He will assume office as ADB President on February 24, 2025, succeeding Masatsugu Asakawa,
whose term ends on February 23, 2025.
● Kanda will complete the remainder of Asakawa’s term, which runs until November 23, 2026.
About ADB:
● ADB is a regional development bank headquartered in Manila, Philippines, with 69 member
countries.
● Major Shareholders: Japan and the United States are the largest shareholders of ADB, each
holding 15.6% equity shares, followed by China (6.4%) and India (6.3%).
Pankaj Tripathi appointed as brand ambassador for Madhya Pradesh Tourism
● Actor Pankaj Tripathi has been appointed as the brand ambassador of Madhya Pradesh
Tourism.
● The Madhya Pradesh government is planning to develop 50 offbeat destinations to attract more
tourists.
● The Madhya Pradesh Tourism department aims to promote the state's diverse offerings, which
include:
➔ Wildlife sanctuaries

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 Important Monthly Current Affairs Capsule – December 2024

➔ UNESCO World Heritage sites

➔ Spiritual landmarks
➔ Cultural landmarks
Mikheil Kavelashvili Elected as Georgia's New President

● Former football player Mikheil Kavelashvili became the President of Georgia.

● Kavelashvili won the election with an easy victory, being the sole candidate on the ballot.
● Salome Zourabichvili, a pro-Western leader, has served as the President of Georgia since 2018.
● Her six-year term ended with the election of Mikheil Kavelashvili.
About Georgia :
● Prime Minister : Irakli Kobakhidze
● Capital : Tbilisi
● Currency : Georgian lari
Justice Madan Lokur, former Supreme Court judge, named chairperson of United Nations Internal
Justice Council
● Former Supreme Court judge Justice Madan B. Lokur was appointed as the Chairperson of the
United Nations Internal Justice Council.
● The term of his appointment is until November 12, 2028.
● The appointment was communicated by U.N. Secretary-General António Guterres on December
19, 2024.
● Members of the Council:
● Justice Lokur will head a council that includes distinguished jurists such as:
o Ms. Carmen Artigas (Uruguay): Nominated by staff.
o Ms. Rosalie Balkin (Australia): Nominated by management.
o Mr. Stefan Brezina (Austria): Staff representative.
o Mr. Jay Pozenel (USA): Management representative.
Trump appoints Indian-origin entrepreneur Sriram Krishnan, Elon Musk's aide, as Artificial Intelligence
policy advisor
● Sriram Krishnan, an Indian-American venture capitalist, was appointed by US President-elect
Donald Trump as the Senior White House Policy Advisor on Artificial Intelligence (AI).
● Krishnan will work alongside ex-PayPal Chief Operating Officer (COO) David O Sacks, who has
been nominated as the "White House AI and crypto czar."

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 Important Monthly Current Affairs Capsule – December 2024

● Role and Responsibilities: Krishnan's role will involve shaping AI policy in the Trump
administration, ensuring continued American leadership in AI, and coordinating AI policy across
the government, including working with the President's Council of Advisors on Science and
Technology.
Indian-Americans in Trump's Cabinet:
● Jay Bhattacharya: Appointed Director of the National Institutes of Health (NIH).
● Vivek Ramaswamy: Chosen to lead the Department of Government Efficiency (Doge), alongside
Musk.
● Harmeet K. Dhillon: Nominated as Assistant Attorney General for Civil Rights at the US
Department of Justice.
● Kash Patel: Appointed Director of the Federal Bureau of Investigation (FBI), becoming the
highest-ranking Indian-American in the Trump cabinet.
Former Supreme Court Judge V. Ramasubramanian Appointed as Chairperson of National Human
Rights Commission
● Former Supreme Court judge V. Ramasubramanian has been appointed as the new chairperson
of the National Human Rights Commission (NHRC).
● The position of NHRC chairperson had been vacant since June 1, 2023, after Justice (retd) Arun
Kumar Mishra completed his tenure.
● Justice Mishra served as the 8th chairperson of NHRC, having been appointed in June 2021.
● Justice Mishra was the first non-CJI to be appointed as the NHRC chairperson after the
amendment to the Protection of Human Rights Act in 2019.
Other Appointments:
● Along with Justice V. Ramasubramanian, Shri Priyank Kanoongo (former chairperson of the
National Commission for Protection of Child Rights) and Dr. Justice Bidyut Ranjan Sarangi
(retired judge) was also appointed as a member of the NHRC.
● Vijaya Bharathi Sayani, an existing NHRC member, became the acting chairperson after Justice
Mishra demitted office on June 2, 2023.
About National Human Rights Commission of India :
● Formed : 12 October 1993
● Headquarters : New Delhi, India
Indian President Droupadi Murmu Appoints New Governors for 5 States
● In a leadership reshuffle, President Droupadi Murmu appointed two new governors and
reassigned three others across five states.

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 Important Monthly Current Affairs Capsule – December 2024

● The reshuffle covers the states of Kerala, Bihar, Odisha, Manipur, and Mizoram.
● Note : Article 155. Appointment of Governor : The Governor of a State shall be appointed by the
President by warrant under his hand and seal.

S.No Name of New Role Replaces Background Significance

the
Appointee

1 Dr Hari Governor of Raghubar Former Appointed to

Babu Odisha Das Governor of continue
Kambhamp (resigned) Mizoram leadership in
ati with Odisha
administrati following
ve Raghubar
experience. Das's
resignation.

2 General Governor of Hari Babu Retired Military and

(Dr) Vijay Mizoram Kambhamp Army administrativ
Kumar ati officer, e experience
Singh former expected to
Union enhance
Minister, security and
twice stability in
elected MP Mizoram.
from
Ghaziabad.

3 Rajendra Governor of Arif Experience Strategic

Vishwanath Kerala Mohammed d move to
Arlekar Khan administrat balance
or with political
political dynamics in
expertise. Kerala,
following Arif

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 Important Monthly Current Affairs Capsule – December 2024

Khan's
transfer to
Bihar.

4 Arif Governor of Rajendra Former Transfer to

Mohammed Bihar Vishwanath Governor of Bihar ahead
Khan Arlekar Kerala, of assembly
known for polls to
intellectual ensure
approach smooth
and political governance
stance. and political
stability.

5 Ajay Kumar Governor of Anusuiya Former Brings

Bhalla Manipur Uikey Union expertise in
Home managing
Secretary, security and
1984-batch ethnic
IAS officer. tensions,
Experience especially in
d in the context
handling of the Meitei-
security and Kuki-Zo
governance violence.
challenges.

Justice G.S. Sandhawalia and Justice Narender G. appointed as Chief Justicesof Himachal Pradesh
and Uttarakhand High Courts
● Justice G.S. Sandhawalia was appointed as the Chief Justice of the Himachal Pradesh High
Court on December 23, 2024.
➔ Current Position: Justice Sandhawalia is presently a judge of the Punjab and Haryana
High Court.

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 Important Monthly Current Affairs Capsule – December 2024

➔ The Supreme Court Collegium recommended Justice G.S. Sandhawalia for the position of
Chief Justice of Himachal Pradesh High Court on September 17, 2024, following the
retirement of Justice Rajiv Shakdher on October 18, 2024.
● Justice Narender G. was appointed as the Chief Justice of the Uttarakhand High Court.
➔ Current Position: Justice Narender G. is a judge of the Andhra Pradesh High Court.
Radhakrishnan Panel Suggests Restructuring of National Testing Agency, Calls for Improved
Coordination with States
● A committee led by former Indian Space Research Organisation (ISRO) chief K. Radhakrishnan
has recommended reforms to improve the transparency and efficiency of national entrance tests
like National Eligibility cum Entrance Test (NEET), Central Universities Entrance Test (CUET),
and University Grants Commission National Eligibility Test (UGC-NET).
● The aim is to ensure the integrity of the examination process and prevent malpractices, with
reforms inspired by the general election framework.
● The committee suggests that the Centre work with state governments to conduct exams, similar
to the election process, where the state administrative machinery is involved at all levels.
● It is recommended that testing centres be sealed before exams in the presence of district
administration and police to ensure security and prevent malpractice.

● State and District Committees:State-level committees should be headed by a nodal officer

nominated by the Chief Secretary.
● District-level committees should be headed by the district magistrate and include representatives
from local police, NTA, IB, and NIC.
● A "digi-exam" system, inspired by the DigiYatra model, is recommended to verify candidates and
ensure only registered individuals appear for the exams.

Amitava Chatterjee Appointed as Managing Director & Chief Executive Officer of Jammu and Kashmir
Bank
● Amitava Chatterjee has been appointed as the Managing Director (MD) and Chief Executive
Officer (CEO) of Jammu and Kashmir (J&K) Bank for a period of three years, effective from
December 30, 2024.
● Chatterjee will succeed Baldev Prakash, whose term ends on December 29, 2024.
● Prior to this appointment, Amitava Chatterjee was serving as the Deputy Managing Director
(DMD) at State Bank of India (SBI).

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 Important Monthly Current Affairs Capsule – December 2024

● He has also held the position of MD & CEO of SBICAPS (State Bank of India Capital Markets).
About Jammu and Kashmir (J&K) Bank :
● Founded : 1 October 1938
● Headquarters : Srinagar, Jammu and Kashmir, India

Arunish Chawla Appointed as New Revenue Secretary, Succeeding Sanjay Malhotra

● Arunish Chawla, a 1992-batch IAS officer from the Bihar cadre, has been appointed as the new
Revenue Secretary, succeeding Sanjay Malhotra.
● Chawla is scheduled to superannuate in July 2028.
● His previous roles include serving as Pharmaceutical Secretary and Joint Secretary in the
Expenditure Department.
Immediate Tasks for Arunish Chawla:
● Finalizing Revenue Numbers for Union Budget: Chawla’s immediate task is to finalize revenue
numbers for the Union Budget 2025, scheduled for presentation on February 1, 2024.
● Review of Income-tax Act: Chawla will oversee the comprehensive review of the Income-tax Act,
announced in July 2024, with a new framework expected in the next Budget.
● Ex-Officio Secretary to the GST Council: Chawla will also serve as the ex-officio Secretary to the
GST Council.
N. Srinivasan Steps Down as Chief Executive Officer and Managing Director of India Cements After
Competition Commission of India Approves UltraTech's Acquisition
● UltraTech Cement has completed the acquisition of 32.72% stake in India Cements for ₹7,000
crore, increasing its total shareholding in the company to 55.49%.
● This makes UltraTech the majority shareholder in India Cements.
● Following the acquisition, India Cements' CEO N Srinivasan, his daughter Rupa Gurunath, wife
Chitra Srinivasan, and other board members, including independent directors, have tendered
their resignations.
● India Cements' CFO R Srinivasan is set to retire on January 1, 2025.
● The Competition Commission of India (CCI) approved UltraTech Cement’s acquisition of nearly
10.13 crore equity shares (32.72% stake) in India Cements on December 20, 2024.
● After the resignations, the board of India Cements appointed 4 new directors — KC Jhanwar,
Vivek Agrawal, ER Raj Narayanan, and Ashok Ramachandran, along with independent directors
Alka Bharucha, Vikas Balia, and Sukanya Kripalu.
About India Cements Limited :

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 Important Monthly Current Affairs Capsule – December 2024

● Founded : 1946
● Headquarters : Chennai, Tamil Nadu, India

Centre names Sandip Mishra as Director of National Testing Agency

● The Union government has appointed Sandip Kumar Mishra as the new director of the National
Testing Agency (NTA).
● His appointment follows the announcement by Union Education Minister Dharmendra Pradhan
regarding the restructuring of NTA to improve its functioning, in line with the recommendations of
a high-level committee set up in June 2024 after paper leak controversies.
● Mishra replaces Pradeep Singh Kharola, who previously served as the director.
About NTA :
● Formed : November 2017
● Headquarters : New Delhi, India
● Chairman : Pradeep Kumar Joshi
● The NTA is an autonomous body of the Department of Higher Education of the Ministry of
Education of India.

MOUS AND AGREEMENT

India Strengthens Solar Commitments in the Indo-Pacific Region
• The Ministry of External Affairs (MEA), in collaboration with the International Solar Alliance (ISA),
signed a Project Implementation Agreement to operationalize a $2 million solar energy
project in Fiji, Comoros, Madagascar, and Seychelles.
• This initiative is part of India's efforts under the Quad Climate Working Group, aiming to address
energy and climate challenges in the Indo-Pacific region.
• Agreement Details
• Partners: MEA and ISA.
• Focus: Implementing solar energy projects in four island nations.
• Funding: India committed $2 million for these solar initiatives.
China and Nepal sign nine-point MoU during PM Oli’s Beijing visit
• Nepal’s Prime Minister K P Sharma Oli and Chinese President Xi Jinping met in Beijing, where
the two nations signed a nine-point Memorandum of Understanding (MoU) to enhance bilateral
cooperation across various sectors, including trade promotion and technical assistance.
Event Details

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 Important Monthly Current Affairs Capsule – December 2024

• Occasion: High-profile diplomatic visit of Nepal’s Prime Minister K P Sharma Oli to China.
• Venue: Beijing, China.
• Duration: Four days.

Hyundai Motor Group forms strategic partnership with IITs to boost EV research in India
• South Korea’s Hyundai Motor Group has announced a strategic partnership with three premier
Indian Institutes of Technology (IITs) to establish a robust research framework in battery
technology and electrification.
• The initiative aims to develop innovations tailored to the unique requirements of the Indian
market.
• Collaborating Institutes: IIT Delhi, IIT Bombay, and IIT Madras.
• Objective: To establish a strong research framework in battery technology and electrification,
tailored to India's needs.
BPCL and CIL Partner for Clean Energy Project: Exploring Coal to Synthetic Natural Gas (SNG)
• Bharat Petroleum Corporation Limited (BPCL) and Coal India Limited (CIL), both Maharatna
Public Sector Undertakings (PSUs) under the Government of India, have signed a Non-Binding
Memorandum of Understanding (MoU) to explore the development of a Coal to Synthetic Natural
Gas (SNG) project.
• This collaboration aims to leverage India's abundant coal reserves to produce clean synthetic
natural gas, contributing to the country's energy transition goals.
• The partnership will utilize surface coal gasification technology at Western Coalfields Limited
(WCL), a subsidiary of CIL, to produce synthetic natural gas (SNG) from coal. This project is
aligned with India’s efforts to reduce dependence on imported energy sources and focus
on domestic energy production.

Essar Group's GreenLine Partners with Flipkart for Sustainable Logistics

• Essar Group's GreenLine Mobility Solutions Ltd has announced a partnership with Flipkart to
deploy LNG-powered trucks as part of Flipkart's efforts to decarbonize its delivery operations.
• This initiative aligns with both companies' sustainability goals and marks a significant step in
reducing the carbon footprint of the e-commerce and logistics sectors.
• 25 LNG-powered trucks will be deployed initially, each equipped with 46-foot containers, offering
a capacity of 110 cubic meters (CBM).

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 Important Monthly Current Affairs Capsule – December 2024

HUDCO Launches Gift Milk Programme to Combat Malnutrition in Chhattisgarh

• In a significant move to address malnutrition among schoolchildren, Housing and Urban
Development Corporation Limited (HUDCO), a Navratna CPSE, launched the Gift Milk
Programme in the districts of Rajnandgaon, Bilaspur, and Mungeli in Chhattisgarh.
• This initiative is part of HUDCO's Corporate Social Responsibility (CSR) efforts to combat under-
nutrition in children.
• Inauguration: The program was inaugurated by Tokhan Sahu, Minister of State for Housing and
Urban Affairs, at the Government School Sendri in Bilaspur on November 30, 2024.
Google inks pact to set up a safety engineering centre in Hyderabad
• The Google Safety Engineering Centre (GSEC) will be established in Hyderabad, marking the
first of its kind in the APAC region, after Tokyo, and only the fifth in the world, with similar
facilities in Dublin, Munich, and Malaga.
• The announcement was made at the Google for India 2024 Conclave on October 3, leading to a
competition among states for the investment.
• The agreement was finalized in the presence of Telangana Chief Minister A Revanth Reddy and
IT Minister D Sridhar Babu.

Ericsson awarded multi-year 4G and 5G extension deal by Bharti Airtel for its India operations
• Bharti Airtel awarded Ericsson a multi-year, multi-billion-dollar extension deal for 4G and 5G
products and solutions.
• A similar deal was signed with Nokia in November 2024.
• Deployment of 5G standalone architecture (SA) to enable fixed wireless access broadband
services in India.
• Ericsson will integrate its latest technology to improve Airtel's network speed, reliability, and
coverage.

Nepal and China sign framework for BRI cooperation in Beijing

• Nepal and China signed the long-awaited BRI Cooperation Framework agreement during
Nepalese Prime Minister K P Sharma Oli's official visit to China.
• This agreement aims to strengthen economic cooperation between the two nations under the
Belt and Road Initiative.
Andhra Pradesh Partners with Google to Drive AI-Enabled Transformation

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 Important Monthly Current Affairs Capsule – December 2024

• The Andhra Pradesh State Government has signed a landmark Memorandum of Understanding
(MoU) with Google to propel advancements in Artificial Intelligence (AI) and foster innovation in
the region.
• The MoU was formalized in the presence of Human Resource Development and Real-Time
Governance (RTG) Minister Nara Lokesh, highlighting a shared vision to leverage technology for
societal progress.
• AI Training for Students: Skill development programs in schools and colleges to prepare students
for AI-driven careers.

India and Bhutan Reinforce Bilateral Ties During Bhutanese King's Visit
• Prime Minister Narendra Modi reaffirmed India's commitment to strengthening its partnership with
Bhutan during a meeting with Bhutanese King Jigme Khesar Namgyel Wangchuck in New Delhi.
• The visit further underscored the deep-rooted ties between the two nations.
India and Australia Conduct Comprehensive Review of CECA to Expand Economic Partnership
• India and Australia conducted a three-day review of their Comprehensive Economic Cooperation
Agreement (CECA), aiming to expand trade and strengthen economic ties.
• The discussions were hosted in New Delhi and covered key areas such as trade, mobility, and
agricultural cooperation, according to a statement by India’s Ministry of Commerce and Industry.
Power Grid Partners with IIT Roorkee to Establish Centres of Excellence
• Power Grid Corporation of India Limited (PGCIL) has entered into a memorandum of
understanding (MoU) with IIT Roorkee for a Corporate Social Responsibility (CSR) initiative
valued at Rs. 20.73 crore.
• The collaboration aims to foster technological innovation by setting up three state-of-the-art
Centres of Excellence (CoEs) at the Institute's Computer Centre.

India-UK Collaboration on Electric Propulsion for Indian Navy

• India and the United Kingdom have signed a Statement of Intent (SoI) to cooperate on the design
and development of electric propulsion systems for the Indian Navy.
• This agreement, signed in Portsmouth, underscores the growing partnership between the two
nations in advancing naval technologies.
• The agreement aims to foster co-design, co-creation, and co-production of advanced electric
propulsion capabilities for future naval ships.
Google and Andhra Pradesh Join Forces to Propel AI Development in Visakhapatnam

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 Important Monthly Current Affairs Capsule – December 2024

• Chief Minister N. Chandrababu Naidu announced a landmark partnership between Google and
the Andhra Pradesh Government, aimed at fostering artificial intelligence (AI) initiatives in
Visakhapatnam.
• This collaboration is set to transform the port city into a global technology and service hub.
• The Memorandum of Understanding (MoU) was a result of discussions held during IT Minister
Nara Lokesh’s recent visit to the United States, where he engaged with Google executives.
Hockey India League (HIL) 2024-25 Signs Media Rights Deal with Sony Sports Network
● The Hockey India League (HIL) has secured a landmark three-year media rights deal with Sony
Sports Network (SSN), starting with the 2024-25 season, set to begin on December 28, 2024.
● This agreement positions SSN as the exclusive broadcaster of one of the premier franchise-based
hockey leagues in the world.
AIIMS Delhi Partners with Wipro GE Healthcare to Launch AI Health Innovations Hub
● The All India Institute of Medical Sciences (AIIMS), Delhi, has signed an MoU with Wipro GE
Healthcare to establish an AI Health Innovations Hub, marking a major step in leveraging artificial
intelligence (AI) for healthcare advancements.
● Strategic Objectives:
o Enhanced Healthcare Delivery: Developing products and solutions for precise diagnosis,
innovative treatment protocols, and real-time patient data tracking.
o Focus Areas: Special emphasis on cardiology, oncology, and neurology.
● Wipro GE Healthcare will contribute $1 million over five years to co-develop and test AI-enabled
systems and solutions.
Dixon Technologies and Vivo India Join Forces for OEM Smartphone Manufacturing
● In a major boost to India’s manufacturing capabilities, Dixon Technologies and Vivo India have
announced a joint venture aimed at producing electronic devices, including smartphones, under the
Original Equipment Manufacturer (OEM) model.
● This collaboration represents a significant step in advancing local production and catering to India’s
rapidly expanding smartphone market.
Goa to Honour Liberation Martyrs’ Families with ₹10 Lakh
● In a historic initiative, the Goa government has decided to recognize the supreme sacrifices made by
the martyrs of Goa’s Liberation struggle, becoming the first state in India to do so.
● As part of this gesture, the families of 14 martyrs will be awarded ₹10 lakh each as a token of
gratitude.

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 Important Monthly Current Affairs Capsule – December 2024

● In September 2022, Chief Minister Sawant also visited Martyr Karnail Singh Benipal’s family in
Ludhiana, Punjab, and provided a ₹10 lakh cheque as financial support to his widow, Charanjeet
Kaur.
HPCL and NLDS Partner to Integrate APIs with Unified Logistics Interface Platform (ULIP)
● Hindustan Petroleum Corporation Limited (HPCL) has signed a key agreement with NICDC Logistics
Data Services Ltd. (NLDS) to integrate its APIs with the Unified Logistics Interface Platform (ULIP).
● This collaboration aims to improve transparency, enhance operational efficiency, and foster
innovation in India’s logistics sector.
● Shri Rajat Kumar Saini, CEO & MD, NICDC and Chairman, NLDS, and Avinash Jain, Chief General
Manager, North Zone, HPCL, attended the signing ceremony.
● The agreement was signed between Shri Girish Kumar Supur, CEO, NLDS, and Ms. Anju Jai Misra,
General Manager, Delhi Retail Region, HPCL.
Bavarian Nordic and Serum Institute of India Partner to Expand Mpox Vaccine Access
● In a strategic move to improve global availability of its mpox vaccine, Bavarian Nordic (BN) has
signed a manufacturing licensing agreement with the Serum Institute of India (SII).
● The partnership focuses on the production of MVA-BN, marketed as Jynneos in several countries,
for the Indian market.
About SII :
● Founded : 1966
● Headquarters : Pune, Maharashtra, India
● CEO : Adar Poonawalla
NHPC and BEML Collaborate on Advanced Desilting and Dredging Solutions
● NHPC Limited and BEML Limited have entered into a strategic partnership to design and implement
advanced desilting and dredging technologies.
● This collaboration is set to enhance the efficiency of hydroelectric power plants, address urban
waterlogging, and support dredging in various water bodies, strengthening India's renewable energy
and infrastructure ecosystem.
About NHPC
● Established: 1975
● Sector: Hydropower and Renewable Energy
● Key Contributions:
o Operates large-scale hydroelectric power projects across India.
o Diversified into solar and wind energy to promote sustainability.

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 Important Monthly Current Affairs Capsule – December 2024

o Plays a pivotal role in India’s transition to renewable energy.

About BEML
● Established: 1964
● Sector: Heavy Engineering and Defense
IEPFA and ACCA Collaborate to Boost Financial Literacy in India
● The Investor Education and Protection Fund Authority (IEPFA) and the Association of Chartered
Certified Accountants (ACCA) have signed a Memorandum of Understanding (MOU) aimed at
enhancing financial literacy, investor education, and investor protection across India.
● The signing ceremony took place in New Delhi and marks a key step in promoting financial
education, with a special focus on schoolchildren in both urban and rural areas.
● Signatories:
o Mrs. Anita Shah Akella, CEO of IEPFA and Joint Secretary, Ministry of Corporate Affairs
o Helen Brand OBE, Chief Executive of ACCA
Maruti Suzuki and Bihar Government Collaborate to Automate Driving License Test Tracks
● Maruti Suzuki India Ltd. has partnered with the Transport Department, Government of Bihar, to
establish five automated driving license test tracks in Bhagalpur, Darbhanga, Gaya, Purnia, and
Saran.
● The initiative aims to enhance efficiency, transparency, and safety in the driving license testing
process.
● The test tracks utilize high-definition cameras and integrated IT systems to conduct assessments
with minimal human intervention.
● Standardized Evaluation: Tests adhere to the Central Motor Vehicle Rules (CMVR), ensuring
rigorous skill assessment and objective, automated results.
● First Driving Institute in Bihar: Established the Institute of Driving and Traffic Research (IDTR) in
Aurangabad in 2018.
Five Pillars of Road Safety Focus
1. Engineering
2. Education
3. Evaluation
4. Enforcement
5. Emergency Care
Airtel Partners with the Indian Army to Expand Connectivity in North Kashmir

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 Important Monthly Current Affairs Capsule – December 2024

● Bharti Airtel has collaborated with the Indian Army to improve connectivity in Kupwara, Baramulla,
and Bandipore districts near the Line of Control (LoC) in North Kashmir.
● The initiative is part of the PM Vibrant Village Programme and enhances network services in remote
villages and military bases.
Bajaj Auto and Sastra University Collaborate on Phase 2 of BEST Centre Initiative
● Bajaj Auto Limited has partnered with Sastra Deemed University to launch the second phase of the
Bajaj Engineering Skill Training (BEST) Centre initiative, aiming to strengthen India's technical
workforce.
Bata India Partners with Zepto for Quick Footwear Deliveries
● Footwear giant Bata India has entered the fast-growing quick commerce market by teaming up with
Zepto, offering swift deliveries across Delhi NCR.
● The initiative aims to cater to the increasing demand for fast and convenient shopping experiences,
with plans to expand services to other major metropolitan cities.
India and France Partner to Develop the Yuga Yugeen Bharat National Museum
● The Ministry of Culture has announced a landmark partnership with France Museums
Développement (FMD) to develop the Yuga Yugeen Bharat National Museum as a world-class
cultural institution.
● This project is part of the Central Vista Redevelopment Project and will cover 1,55,000 square
meters across the iconic North and South Blocks in New Delhi.
● The Yuga Yugeen Bharat National Museum (YYBNM) will celebrate India's unbroken civilizational
history.
● The project was first announced by Prime Minister Narendra Modi at the International Museum Expo
in May 2023 and reiterated during the Bharat Mandapam inauguration in July 2023.

India-Japan Partnership to Address Space Debris and Lunar Exploration

● India and Japan have formed a strategic alliance to address the increasing challenge of space
debris, leveraging advanced technologies and expanding their collaboration in the space sector.
● This partnership not only focuses on space debris removal using laser-equipped satellites but also
includes joint efforts in lunar exploration, reflecting a shared commitment to advancing global space
endeavors.
India and France Collaborate on Yuga Yugeen Bharat National Museum

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 Important Monthly Current Affairs Capsule – December 2024

● The Ministry of Culture, in partnership with France Museums Développement (FMD), has initiated an
ambitious project to develop the Yuga Yugeen Bharat National Museum, envisioned as a global
cultural landmark.
● This state-of-the-art museum will span 1,55,000 square meters across the North and South Blocks in
New Delhi, marking a key milestone in India’s Central Vista Redevelopment Project.

RANKING AND REPORTS

India's Rise in Network Readiness Index (NRI) 2024
• India’s 49th position in the NRI 2024, a leap from 60th in 2023, highlights its significant progress
in network infrastructure, digital capabilities, and technological innovation.
• Ranking Progress: Climbed 11 spots, from 60th in 2023 to 49th in 2024.
• Notable regional ranking among neighbors:
o China: 17th
o India: 49th
o Bangladesh: 89th
o Sri Lanka: 95th
o Pakistan: 97th
Top 10 Countries in NRI 2024
• United States
• Singapore
• Finland
• Sweden
• Republic of Korea
• Netherlands
• Switzerland
• United Kingdom
• Germany
• Denmark
Telangana, Tamil Nadu, and Delhi Lead in Malware Attacks: India Cyber Threat Report 2025
• The India Cyber Threat Report 2025, released by the Data Security Council of India (DSCI),
highlights Telangana, Tamil Nadu, and Delhi as the top three regions most affected by
cyberattacks, particularly malware.

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 Important Monthly Current Affairs Capsule – December 2024

• The report provides a comprehensive overview of the cybersecurity landscape in India,

identifying key sectors and emerging trends in cyber threats.

India Leads the World with the Highest Number of Polluted Cities
• India has emerged as the global leader in terms of the number of cities ranked among the most
polluted in the world.
• A recent study revealed that 39 out of the top 100 most polluted cities globally are in India, far
surpassing China, which has 30 cities on the list.
• Key Highlights:
• Most Polluted Cities in India:
• Begusarai ranked first in 2023 for pollution, followed by:
o Guwahati (2nd)
o Delhi (3rd)
o Mullanpur (4th)
• Global Ranking:
• Delhi was ranked the most polluted capital in the world in 2023 by IQAir, with Beijing (China)
at 18th.
• India ranked third globally for the highest PM2.5 concentrations,
following Bangladesh and Pakistan, while China ranked 19th.
IndiGo named one of the worst airlines as global rankings are unveiled
• The 2024 AirHelp survey ranked IndiGo, a leading budget carrier in India, as the 103rd out of 109
airlines globally, with a low score of 4.80.
• Data was collected from January to October 2024 across 54 countries, with feedback from a
diverse pool of passengers.
Top and Bottom Airlines in the Survey
• Top 5 Airlines
1. Brussels Airlines: Scored 8.12 for on-time performance, 7.9 for customer opinion, and 8.7 for
claim processing.
2. Qatar Airways
3. United Airlines
4. American Airlines
5. Play (Iceland)
IIT Delhi Tops Indian Institutions in QS Sustainability Rankings 2025

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 Important Monthly Current Affairs Capsule – December 2024

• The QS World University Rankings Sustainability 2025 were released, showcasing universities'
global and environmental contributions.
• IIT Delhi emerged as the highest-ranked Indian institution, holding the 171st global position and
achieving an 81.1 percentile in Environmental Sustainability.
• Indian Universities in QS Sustainability Rankings 2025
• Top 10 Indian Institutions:
• Rank • Globa • Institute Name
in l Rank
India
• 1 • 171 • IIT Delhi
• 2 • 202 • IIT Kharagpur
• 3 • 234 • IIT Bombay
• 4 • 245 • IIT Kanpur
• 5 • 277 • IIT Madras
• 6 • 299 • University of Delhi
• 7 • 376 • Indian Institute of Science (IISc),
Bengaluru
• 8 • 396 • Vellore Institute of Technology (VIT)
• 9 • 401 • Manipal Academy of Higher
Education
• 10 • 412 • Anna University

India’s Remarkable Achievement in Malaria Reduction: WHO Report 2024

• According to the WHO World Malaria Report 2024, India has emerged as a leader in reducing
malaria cases and deaths, contributing significantly to the decline in malaria across the WHO
South-East Asia Region.
• Malaria cases dropped by 17.7 million from 2000 to 2023.
• Incidence reduced by 93%, from 20 cases to 1.5 cases per 1,000 at-risk people.
India Rises to 49th in the 2024 Network Readiness Index (NRI)
● India has achieved a significant milestone in the 2024 Network Readiness Index (NRI) by jumping 11
places from 60th in 2023 to 49th in 2024, with an improved score of 53.63.

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 Important Monthly Current Affairs Capsule – December 2024

● Published by the Portland Institute, the NRI evaluates nations' use of technology for governance and
citizen engagement, underscoring India’s growing prominence in the global technology landscape.
Ranking Improvement and Growth
● 2024 Score: 53.63, up from 49.93 in 2023.
● Ranking: India climbed 11 spots, reflecting notable advancements in digital infrastructure and
technology adoption.
Forbes' 21st Annual List of the World's 100 Most Powerful Women (2024)
● Forbes has revealed its 2024 ranking of the World's 100 Most Powerful Women, celebrating
influential figures from business, entertainment, politics, philanthropy, and policymaking.
● This year, three Indian women—Nirmala Sitharaman, Roshni Nadar Malhotra, and Kiran Mazumdar-
Shaw—have secured their places, spotlighting India's global impact.
Key Achievements of Indian Women on the List
1. Nirmala Sitharaman (Rank 28 Overall)
o Position: Finance Minister of India.
2. Roshni Nadar Malhotra (Rank 81 Overall)
o Position: Chairperson of HCL Technologies and CEO of HCL Corporation.
3. Kiran Mazumdar-Shaw (Rank 82 Overall)
o Position: Founder and Chairperson of Biocon.
Top 10 Women on the 2024 List
1. Claudia Sheinbaum – President of Mexico.
2. Ursula von der Leyen – President of the European Commission.
3. Christine Lagarde – President of the European Central Bank.
4. Giorgia Meloni – Prime Minister of Italy.
5. Mary Barra – CEO of General Motors.
6. Abigail Johnson – CEO of Fidelity Investments.
7. Julie Sweet – CEO of Accenture.
8. Melinda French Gates – Co-chair of the Bill & Melinda Gates Foundation.
9. MacKenzie Scott – Philanthropist.
10. Jane Fraser – CEO of Citigroup.
India Climbs to 49th in 2024 Network Readiness Index
● India has achieved a significant milestone in the 2024 Network Readiness Index (NRI), advancing 11
places from 60th in 2023 to 49th.

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 Important Monthly Current Affairs Capsule – December 2024

● With a score of 53.63, up from 49.93 the previous year, this leap underscores the nation’s
commitment to enhancing its digital infrastructure and technology adoption.
● The Portulans Institute, which publishes the NRI, evaluates how nations leverage technology for
governance, citizen engagement, and innovation.
Ranking and Score Growth
● Improved Ranking: Jumped from 60th (2023) to 49th (2024).
● Enhanced Score: Increased to 53.63 from 49.93, reflecting substantial growth in technology
readiness.

ACQUISITION AND MERGERS

Hinduja Tech finalizes acquisition of Tecosim
• Hinduja Tech Limited has successfully acquired Tecosim Group, a leading European engineering
services provider, expanding its footprint in the European market.
• This acquisition is a significant step toward Hinduja Tech's goal of becoming one of the top 10
global mobility engineering and R&D companies.
• The acquisition strengthens Hinduja Tech’s leadership in the global automotive engineering
market, providing operational efficiencies and boosting competitiveness.
• Hinduja Tech CEO : Kumar Prabhas
• Tecosim Group MD : Udo Jankowski
ONGC Videsh Purchases Equinor's Stake in Azerbaijan Oilfield for $60 Million
• ONGC Videsh Limited (OVL), the overseas arm of Oil and Natural Gas Corporation (ONGC),
acquired Equinor's stake in the Azeri Chirag Gunashli (ACG) oilfield and the Baku-Tbilisi-Ceyhan
(BTC) pipeline for USD 60 million.
• The acquisition was completed on November 29, 2024, through OVL's wholly-owned subsidiary,
ONGC BTC Limited.
• Stake Details:OVL acquired a 0.615% participating interest (PI) in the ACG oilfield and a 0.737%
share in the BTC pipeline.
UK approves $19 billion merger of Vodafone UK and Three mobile
• Britain approved the $19 billion merger between Vodafone UK and Hutchison's Three UK,
forming the country's largest mobile operator, reducing the number of mobile networks from four
to three.

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 Important Monthly Current Affairs Capsule – December 2024

• Competition and Markets Authority (CMA): Initially concerned that the merger could lead to
higher customer prices, the CMA later accepted the companies' pledge to invest in 5G networks
and provide protections for retail and wholesale customers.
• Government Influence: The approval followed the urging of Prime Minister Keir Starmer to
prioritize investment and economic growth in regulatory decision-making.
Reliance Industries Limited Subsidiary Buys 21% Stake in US-Based Wavetech Helium for $12 Million
• A US subsidiary of Reliance Industries (RIL), Reliance Finance and Investments USA LLC
(RFIUL), acquired a 21% stake in US-based Wavetech Helium, Inc. (WHI).
• The acquisition was completed through a stock purchase agreement for an aggregate
consideration of $12 million.
• Strategic Focus:The investment aligns with RIL's efforts to explore opportunities in the helium
gas segment, which has a lower carbon footprint.
Competition Commission of India Approves MUFG Bank's Acquisition of Stake in Shiprocket Private
Limited
• The Competition Commission of India (CCI) has approved the acquisition of a shareholding in
Shiprocket Private Limited by MUFG Bank, Limited..
• Details of the Proposed Combination:The proposed combination involves MUFG Bank acquiring
a shareholding in Shiprocket Private Limited.
• About MUFG Bank:MUFG Bank, Ltd. is incorporated in Japan and is a wholly-owned subsidiary
of Mitsubishi UFJ Financial Group, Inc. (MUFG), the ultimate parent company.
• MUFG Bank is involved in providing banking services in India.
About CCI :
• Founded : 14 October 2003
• Headquarters : New Delhi, India
• Chairman : Ravneet Kaur

Competition Commission of India Approves KDT Venture Holdings' Acquisition of Stake in Shiprocket
Private Limited
• The Competition Commission of India (CCI) has approved the acquisition of a shareholding in
Shiprocket Private Limited by KDT Venture Holdings, LLC.
• Details of the Proposed Combination:The proposed combination involves KDT Venture Holdings,
LLC (Acquirer) acquiring a shareholding in Shiprocket Private Limited (Target).

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 Important Monthly Current Affairs Capsule – December 2024

Competition Commission of India Approves Platinum Stone A 2014 Trust's Subscription to Optionally
Convertible Debentures of GMR Infra Enterprises Private Limited
• The Competition Commission of India has approved the subscription to optionally convertible
debentures (OCDs) of GMR Infra Enterprises Private Limited by Platinum Stone A 2014 Trust
(acting through its trustee Platinum Rock B 2014 RSC Limited).
• Parties Involved:
• Acquirer: Platinum Stone A 2014 Trust (through trustee Platinum Rock B 2014 RSC Limited), a
trust established in Abu Dhabi with the Abu Dhabi Investment Authority as the sole beneficiary.
Paytm's Singapore arm to divest stake in Japan's PayPay for ₹2,364 crore
• Paytm's wholly-owned Singapore unit (One97 Communications Singapore) is set to sell its stake
in PayPay, a Japanese fintech company, to SoftBank Vision Fund 2 for ₹2,364 crore.
• Details of the Sale:The sale involves Stock Acquisition Rights (SARs) held in PayPay
Corporation and is expected to close by the end of the month, subject to necessary approvals.
• The sale will strengthen Paytm's parent company's cash reserves, which currently exceed
₹10,000 crore.
Reserve Bank of India Approves Burman Family's Open Offer to Acquire Additional 26% Stake in
Religare Enterprises Limited
• The Reserve Bank of India (RBI) has approved the open offer by the Burman family, the
promoters of Dabur, to acquire an additional 26% stake in Religare Enterprises Limited (REL).
• Objective: The Burman family's goal is to increase their stake in REL, a Non-Banking Financial
Company (NBFC).
About Religare Enterprises Limited ;
• Headquarters : New Delhi, India
• Chairperson : Rashmi Saluja
• REL is an Indian investment and financial services holding company.

Paytm subsidiary to divest stock acquisition rights in Japan's PayPay for ₹2,300 crore
• One97 Communications (OCL), the owner of Paytm, is selling its 5.4% shareholding in Japan's
PayPay to SoftBank Vision Fund 2 for ₹2,364 crore (~$280 million).
• The transaction values PayPay at approximately $3.8 billion (₹32,000 crore).
• Background of PayPay:PayPay was founded in June 2018 as a joint venture between SoftBank
Corp, Yahoo Japan Corporation, and Paytm (as the technology partner).
ICICI Bank approves plan to sell 19% stake in ICICI Merchant Services

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 Important Monthly Current Affairs Capsule – December 2024

● ICICI Bank's Board of Directors has approved the sale of a 19% stake in its associate company,
ICICI Merchant Services Private Ltd (IMSPL), subject to necessary regulatory approvals.
● The stake will be sold to First Data Holdings 1 (Netherlands) BV, a global leader in electronic
commerce and payment services.
● The transaction is expected to generate ₹160 crore to ₹190 crore in funds for ICICI Bank.
● The transaction is expected to be completed before June 30, 2025.
About ICICI Bank :
● Founded : 5 January 1955
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Sandeep Bakhshi
Competition Commission of India Approves KKR's Proposal to Acquire Stake in Rebel Foods
● The Competition Commission of India (CCI) approved the proposal by US-based investment firm
KKR (Kohlberg Kravis Roberts & Co.) to acquire a stake in Rebel Foods.
● KKR, through its affiliate Royce Asia Holdings II Pte, will acquire equity shares and compulsorily
convertible preference shares in Rebel Foods via a secondary purchase.
About CCI :
● Formed : 14 October 2003
● Headquarters : New Delhi, India
● Chairman : Ravneet Kaur
About KKR & Co. Inc :
● Headquarters : New York, U.S
Coca-Cola divests 40% stake in bottling arm Hindustan Coca-Cola Beverages Private Limited to
Jubilant Bhartia Group
● Coca-Cola sold a 40% stake in its India bottling arm, Hindustan Coca-Cola Beverages Private
Limited (HCCBL), to Jubilant Bhartia Group for ₹12,500 crore ($1.47 billion).
● India’s Market Rank: India is Coca-Cola’s fifth-largest market globally.
● Asset-Light Strategy: Coca-Cola is divesting its bottling operations globally as part of its asset-
light strategy.
● Jubilant Bhartia Group: The deal is the largest by Jubilant Bhartia Group, which also holds
exclusive franchise rights for Domino's Pizza in India.
Competition Commission of India approves Ramon Investments' acquisition of stake in Speed JVco S.à
r.l.

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 Important Monthly Current Affairs Capsule – December 2024

● The Competition Commission of India (CCI) has approved the acquisition of a certain stake in
Speed JVco S.à r.l. (Target) by Ramon Investments Private. Limited. (Acquirer).
● Ramon Investments Private. Limited. is an investment holding company with no business
operations other than holding investments.
● It is a wholly owned subsidiary of Temasek Holdings (Private) Limited, a Singapore-based
investment company.
● Temasek is an investment company with a broad global portfolio in various sectors, including
transportation, financial services, telecommunications, media & technology, consumer & real
estate, life sciences & agri-food, and multi-sector funds.
Genesis Aircraft Lessor to Acquire SpiceJet's Stake to Resolve $16 Million Dispute
● Genesis Aircraft Lessor will acquire a stake worth $4 million in SpiceJet as part of a settlement
for a $16 million dispute.
● SpiceJet will pay $6 million to Genesis for the settlement.
● Both parties have agreed to withdraw ongoing litigations and disputes related to this matter.
● Genesis will acquire $4 million worth of SpiceJet equity at Rs 100 per share.

Competition Commission of India Grants Approval for UltraTech Cement's Acquisition of The India
Cements
● The Competition Commission of India (CCI) approved UltraTech Cement Ltd's (UltraTech)
proposed acquisition of The India Cements Limited (India Cements).
● This approval marks significant consolidation in the southern cement market.
● UltraTech will acquire 32.72% of India Cements' paid-up equity share capital from promoters and
Sri Saradha Logistics Private Limited.
● Additionally, UltraTech will acquire up to 26% of India Cements’ paid-up equity capital through an
open offer.
● The CCI issued a notice on December 6, 2024, under Section 29(1) of the Competition Act,
2002, seeking clarifications from UltraTech regarding potential competition concerns.
● This marks the first instance of CCI unconditionally approving a transaction post-show cause
notice under the amended merger control regime.
● Legal Advisory:J Sagar Associates (JSA) acted as the sole advisor to UltraTech in securing the
unconditional approval from the CCI.
About CCI :
● Founded : 14 October 2003

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 Important Monthly Current Affairs Capsule – December 2024

● Headquarters : New Delhi, India

● Chairman : Ravneet Kaur
Honda and Nissan Reveal Merger Plans, Set for Completion by August 2026
● Honda Motor Company, Nissan Motor, and Mitsubishi Motors announced plans to merge and co-
develop future products, aiming to form a holding company that could potentially become the
third-largest auto group globally.
● The companies reached a basic agreement to proceed with discussions based on a
memorandum of understanding (MOU) signed by Nissan and Honda on August 1, focusing on
intelligence and electrification.
Peak XV Partners divests 1.5% stake in MobiKwik for ₹82 crore
● Peak XV Partners (formerly Sequoia India & Southeast Asia) sold a 1.5% stake in MobiKwik for
₹82 crore through an open market transaction.
● The sale involved 12.01 lakh shares at an average price of ₹679.38 each, valued at ₹81.63 crore.
● MobiKwik was founded by Bipin Preet Singh and Upasana Taku, and it is based in Gurugram.
● Peak XV Partners Investment Holdings III, an arm of Peak XV Partners, was involved in the
transaction.
About MobiKwik :
● Founded : April 2009
● Headquarters : Gurgaon, Haryana, India
● MD & CEO : Bipin Preet Singh
RBL Bank Sells Entire 8.16% Stake in DAM Capital Ahead of Initial Public Offering Listing
● RBL Bank has sold its entire 8.16% stake in DAM Capital Advisors through an Offer for Sale
(OFS) during the investment bank's Initial Public Offering (IPO).
● The sale raised ₹163.32 crore for RBL Bank.
● The sale involved 5.77 million equity shares with a face value of ₹2 each, sold at ₹283 per share.
● Prior to the IPO, RBL Bank had also divested 1.06 million shares (1.5% stake) in DAM Capital
through a secondary market transaction.
About RBL Bank :
● Founded : 1943
● Headquarters : Mumbai, Maharashtra
● MD & CEO : R Subramaniakumar
● RBL Bank, formerly known as Ratnakar Bank Limited, is an Indian private sector bank.

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 Important Monthly Current Affairs Capsule – December 2024

DEFENCE NEWS
Ministry of Defence Signs ₹1207.5 Crore Contract with Cochin Shipyard for INS Vikramaditya’s Short
Refit and Dry Docking
• The Ministry of Defence (MoD) signed a contract with Cochin Shipyard Limited (CSL) on 30th
November 2024 for the Short Refit and Dry Docking (SRDD) of INS Vikramaditya at a cost of
₹1207.5 crore.
• INS Vikramaditya is a 45,000-tonne aircraft carrier, originally built by Admiral Gorshkov in Russia.
About Cochin Shipyard Limited :
• Founded : 29 April 1972
• Headquarters : Kochi, Kerala, India
• Chairman & MD : Madhu S. Nair
Indian Coast Guard Hosts 22nd National Maritime Search and Rescue Board Meeting in Kochi, Kerala
• The Indian Coast Guard (ICG) organized the 22nd National Maritime Search and Rescue
(NMSAR) Board meeting on November 28, 2024, in Kochi, Kerala.
• The meeting marked the beginning of the 11th edition of the National Maritime Search and
Rescue Exercise (SAREX-24), held off the Kochi Coast on November 29, 2024.
• Inauguration:Defence Secretary Rajesh Kumar Singh inaugurated the event and interacted with
foreign delegates present.

Indian and Sri Lankan Navies conduct the joint operation, seizing 500 kg of narcotics in the Arabian Sea
• Indian and Sri Lankan Navies conducted a coordinated operation to seize narcotics in the
Arabian Sea.
• Approximately 500 kg of crystal methamphetamine were seized from two fishing vessels.
• The Indian Navy's long-range maritime patrol aircraft and drones carried out surveillance
missions based on inputs from the Sri Lankan Navy.
Defence Acquisition Council Approves 5 Capital Acquisition Proposals Worth ₹21,772 Crores to
Enhance Defence Preparedness
• The Defence Acquisition Council (DAC), chaired by Raksha Mantri Shri Rajnath Singh, approved
5 capital acquisition proposals worth ₹21,772 Crores to enhance India's defence preparedness.
• Procurement of 31 New Water Jet Fast Attack Crafts (NWJFACs): These crafts will be used by
the Indian Navy for Low-Intensity Maritime Operations, surveillance, patrol, search and rescue
(SAR) operations, and anti-piracy missions, particularly in island territories.
About Ministry of Defence :

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 Important Monthly Current Affairs Capsule – December 2024

• Defence Minister :Rajnath Singh

• Minister of State : Sanjay Seth
Adani Defence hands over second Drishti-10 Starliner surveillance drone to Indian Navy
• Adani Defence and Aerospace delivered a second Drishti-10 Starliner surveillance drone to the
Indian Navy, enhancing maritime monitoring capabilities and piracy risk mitigation.
• The UAV is equipped with advanced Maritime Patrol Radar, Electronic Intelligence (ESM), and
state-of-the-art payloads.
• The Drishti-10 Starliner is a Medium Altitude Long Endurance (MALE) UAV with 36 hours of
endurance and a 450 kg payload capacity.

Indian Coast Guard Holds 11th National Maritime Search and Rescue Exercise Near Kochi Coast
• The 11th edition of SAREX (National Maritime Search and Rescue Exercise) was conducted by
the Indian Coast Guard (ICG) off the Kochi coast on November 29, 2024.
• The two-day exercise was inaugurated by Defence Secretary Shri Rajesh Kumar Singh on
November 28, 2024 and reviewed by Director General ICG Paramesh Sivamani.
• Theme:The theme of SAREX-2024 was ‘Enhancing Search and Rescue Capabilities Through
Regional Collaboration’, emphasizing international cooperation in strengthening maritime safety.
Navy Chief Admiral Dinesh Tripathi Announces 26 Rafale-M Jets and Three Scorpene Submarines
Deals to be Signed by Next Month
• The Indian Navy's second nuclear ballistic missile submarine (SSBN), INS Arighaat, successfully
fired a Submarine Launched Ballistic Missile (SLBM).
• The missile tested was the K4 SLBM with a range of 3,500 km.
• Indigenous Nuclear Attack Submarines (SSNs):The first indigenous nuclear attack submarine
(SSN) is expected to be ready by 2036-37.
• The deal for the three Scorpene submarines is a repeat order to Mazagon Dock Shipbuilders
Limited (MDL), in partnership with Naval Group of France.

Indian Army and Singapore Armed Forces Successfully Complete Joint Military Exercise "Agni Warrior
2024"
• The 13th edition of Joint Military Exercise AGNI WARRIOR (XAW-2024), a bilateral exercise
between the Indian Army and Singapore Armed Forces, concluded at Field Firing Ranges,
Devlali (Maharashtra) on 30th November 2024.
• The exercise was conducted from 28th to 30th November 2024.

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 Important Monthly Current Affairs Capsule – December 2024

• Singapore Armed Forces: 182 personnel from the Singapore Artillery.

• Indian Army: 114 personnel from the Regiment of Artillery.
About Ministry of Defence :
• Cabinet Minister : Rajnath Singh
• Minister of State : Sanjay Seth

4th Edition of India-Malaysia Joint Military Exercise HARIMAU SHAKTI Begins on December 2, 2024, at
Bentong Camp, Malaysia
• The 4th edition of the India-Malaysia Joint Military Exercise HARIMAU SHAKTI commenced on
December 2, 2024, at Bentong Camp, Pahang district, Malaysia.
• The exercise will be conducted from 2nd to 15th December 2024.
• This year, the bilateral military exercise is themed around the motto, *"Two nations, one mission:
Ensuring global peace."*
• The 3rd edition was held in November 2023 at Umroi Cantonment, Meghalaya, India.

India and Cambodia Launch Inaugural Joint Table Top Exercise CINBAX in Pune
• The 1st edition of Joint Table Top Exercise, CINBAX, between the Indian Army and the
Cambodian Army commenced at Foreign Training Node, Pune.
• The exercise will be conducted from 1st to 8th December 2024.
• The Cambodian Army contingent will comprise 20 personnel and the Indian Army contingent is
also comprising 20 personnel from an Infantry Brigade.
• CINBAX is a planning exercise focused on conducting joint Counter-Terrorism (CT) operations
under Chapter VII of the United Nations Charter.
About Ministry of Defence :
• Cabinet Minister : Rajnath Singh
• Minister of State : Sanjay Seth
About Cambodia :
• Prime Minister : Hun Manet
• Capital : Phnom Penh
• Currency : Riel
Indian Air Force's Western Air Command Holds Two-Day Commanders' Conference in New Delhi
• The two-day Commanders' Conference of the Indian Air Force's (IAF) Western Air Command
(WAC) was held on 06 & 07 December 2024 in New Delhi.

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 Important Monthly Current Affairs Capsule – December 2024

• Air Chief Marshal AP Singh, the Chief of the Air Staff, was the chief guest at the conference.
• He was received by Air Marshal PM Sinha, the Air Officer Commanding-in-Chief of WAC, and
was presented with a ceremonial Guard of Honour.
• The theme for the year was "Bharatiya Vayu Sena - Sashakt, Saksham, Atmanirbhar,"
highlighting the IAF's focus on strength, capability, and self-reliance.

Defence Minister Shri Rajnath Singh to Visit Russia for 21st India-Russia Inter-Governmental
Commission Meeting on Military Cooperation
• Raksha Mantri Shri Rajnath Singh will visit the Russian Federation from December 08-10, 2024.
• Rajnath Singh and Russian Defence Minister Mr. Andrey Belousov will co-chair the 21st meeting
of the India-Russia Inter-Governmental Commission on Military and Military Technical
Cooperation (IRIGC-M&MTC) on December 10, 2024, in Moscow.
• The two leaders will review the broad spectrum of defence relations between India and Russia,
focusing on military-to-military and industrial cooperation.
About Ministry of Defence :
• Defence Minister : Rajnath Singh
• Minister of State : Sanjay Seth

Indian Navy's Operational Demonstration at Puri, Odisha, on Navy Day 2024

• The Indian Navy conducted an 'Operational Demonstration' on December 4, 2024, showcasing
various naval operations, including those by ships, submarines, aircraft, marine commandos, and
Indian Army personnel, at Blue Flag Beach, Puri, Odisha.
• The event was graced by Smt. Droupadi Murmu, the President of India and Supreme
Commander of the Armed Forces, who was the Chief Guest.
• Navy Day Significance:The demonstration coincided with Navy Day, celebrated annually on
December 4, to commemorate Operation Trident, a significant attack on Karachi harbour during
the Indo-Pak War of 1971.

INS Tushil (F 70) commissioned into the Indian Navy by Raksha Mantri Shri Rajnath Singh at Yantar
Shipyard in Kaliningrad, Russia
• INS Tushil, a multi-role stealth-guided missile frigate, was commissioned into the Indian Navy on
December 9, 2024, at Yantar Shipyard in Kaliningrad, Russia.

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 Important Monthly Current Affairs Capsule – December 2024

• The event was attended by Indian Defence Minister Rajnath Singh, highlighting the growing
maritime strength of India and the deep, long-standing ties between India and Russia.
• Rajnath Singh emphasized the importance of the ship as a symbol of India’s journey towards
technological excellence and collaboration with Russia.
Indian Light Tank Reaches Significant Milestone with Accurate Firing at High Altitude
• The Indian Light Tank (ILT) successfully fired rounds at different ranges at an altitude of over
4200 meters in a High Altitude Location, achieving consistently accurate results.
• The Combat Vehicles Research & Development Establishment (CVRDE), part of the Defence
Research and Development Organisation (DRDO), is responsible for defining, designing, and
developing the ILT according to the Provisional Staff Qualitative Requirements (SQRs) of the
Indian Army.
About Ministry of Defence :
• Defence Minister : Rajnath Singh
• Minister of State : Sanjay Seth

Ministry of Defence Signs Agreement with Hindustan Aeronautics Limited for Acquisition of 12 Su-
30MKI Aircraft
• The Ministry of Defence (MoD) signed a ₹13,500 crore deal with Hindustan Aeronautics Limited
(HAL) for the procurement of 12 Russian-origin Su-30MKI fighter jets to address the Indian Air
Force (IAF) fleet strength deficiency.
• The 12 Su-30MKI aircraft will feature 62.6% domestic content, with key components being
manufactured by the Indian defence industry, furthering India's self-reliance in defense
production.
About Hindustan Aeronautics Limited :
• Headquarters : Bangalore, Karnataka, India
• Chairman & MD : DK Sunil

9th India-Thailand Defence Dialogue in New Delhi to Discuss Strengthening Bilateral Defence
Cooperation
• The 9th India-Thailand Defence Dialogue took place in New Delhi on December 12, 2024.
• The meeting was co-chaired by Shri Amitabh Prasad, Joint Secretary (International Cooperation),
and Gen Tharapong Malakam, Thailand’s Deputy Permanent Secretary for Defence.
4th Edition of ‘SAMPARK’ ECHS Outreach Initiative for Naval Veterans and Families to Launch in

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 Important Monthly Current Affairs Capsule – December 2024

Maharashtra
• The 4th edition of SAMPARK, an outreach initiative by the ECHS (Navy), is aimed at ensuring
the well-being of Naval Veterans, Veer Naris, and their families by providing direct
communication and healthcare services.
• SAMPARK 4.0 will be launched on 16th December 2024, covering various locations in
Maharashtra, including Thane, Nasik (Deolali), Aurangabad, Ahmednagar, Solapur, Kolhapur,
and Pune.
• Purpose: The initiative seeks to provide quality healthcare services and support to Naval
Veterans and their families, particularly in remote and inaccessible areas, in line with the Chief of
the Naval Staff's (CNS) vision.
United States unveils $500 million military aid package for Ukraine
● The United States (US) announced a new military aid package of US$500 million for Ukraine to
support its defense against Russia’s ongoing attacks.
● Contents of the Aid Package: The package includes:
➔ Ammunition for HIMARS (High Mobility Artillery Rocket Systems).
➔ Artillery ammunition and drones.
➔ Armored vehicles.
➔ Protection equipment against chemical, biological, radiological, and nuclear attacks (CBRN).
● Other military equipment.The aid package comes amid concerns about the future of U.S. support
for Ukraine following the election of President-elect Donald Trump, who has expressed intentions
to potentially reduce military aid to Ukraine once he assumes office in January 2025.
● Previous Aid Packages: The announcement follows two other large security assistance
packages:
➔ A US$988 million package.
➔ A US$725 million package.
About United States :
● President : Joe Biden
● Vice President : Kamala Harris
● Capital : Washington, D.C
● Currency : U.S. dollar
About Ukraine :
● President : Volodymyr Zelenskyy
● Prime Minister : Denys Shmyhal

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 Important Monthly Current Affairs Capsule – December 2024

● Capital : Kyiv
● Currency : Hryvnia (₴)
Indian Naval Ship Nirdeshak Set to Be Commissioned at Naval Dockyard, Visakhapatnam

● Indian Naval Ship (INS) Nirdeshak, a state-of-the-art survey vessel, will be commissioned on 18
December 2024 at Naval Dockyard, Visakhapatnam.
● The ceremony will be presided over by Union Minister of State for Defence, Shri Sanjay Seth.
● It will be hosted by the Flag Officer Commanding-in-Chief, Eastern Naval Command.
● Built by Garden Reach Shipbuilders & Engineers (GRSE), Kolkata, INS Nirdeshak has over 80%
indigenous content, showcasing India's capabilities in ship design and construction.
● Indian Naval Ship (INS) Nirdeshak launched on 26 May 2022.
Defence Research and Development Organisation, IIT Delhi, and Industry Sign 10 Tripartite
Agreements at DRDO-Industry-Academia Centre of Excellence Event
● The event titled ‘DRDO-Industry-Academia - Global Approach to Readiness of Indigenous
Military Applications’ (DIA-GARIMA) was organized by DRDO-Industry-Academia Centre of
Excellence (DIA-CoE) at IIT Delhi on December 19, 2024.
● Dr. Samir V. Kamat, Secretary, Department of Defence R&D, and Chairman of DRDO, along with
Prof. Rangan Banerjee, Director of IIT Delhi, and industry representatives, were present.
● Tripartite Agreements Signed:10 agreements were signed between DRDO, IIT Delhi, and
industry partners during the event.
● Technology Transfer:Transfer of Technology for Light Weight Bullet Resistant Jacket (ABHED) to
the following companies:
○ MIDHANI (Mishra Dhatu Nigam), Rohtak
○ SMPP Pvt Ltd, Delhi
○ AR Polymers (MKU), Kanpur
● Memorandum of Agreement (MoA):Development of Indigenous Ballistic Material with Reliance
Industries Limited.
● Limited Series Production of Extreme Cold Weather Clothing with:
○ Aeronav Industrial Safety Appliance, Delhi
○ Arnaf Industries Ltd
○ Arrow Garments, Tirupur
● Limited Series Production of Extreme Heat Protective Clothing with:
○ Arrow Garments, Tirupur

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 Important Monthly Current Affairs Capsule – December 2024

○ Aeronav Industrial Safety Appliance, Delhi

○ Katalyst TECHTEX Ltd, Delhi
About DRDO :
● Formed : 1958
● Headquarters : New Delhi, India
● Chairman : Sameer V. Kamat

Ministry of Defence Signs Contract with L&T for K9 VAJRA-T Self-Propelled Artillery Guns for Indian
Army
● The Ministry of Defence (MoD) signed a contract with Larsen & Toubro (L&T) for the
procurement of 155 mm/52 calibre K9 VAJRA-T Self-Propelled Tracked Artillery Guns for the
Indian Army.
● The total cost of the procurement is Rs 7,628.70 crore.
● Purpose: The procurement is aimed at modernizing the artillery and enhancing the operational
readiness of the Indian Army.
● The project is in line with India’s self-reliance initiatives, promoting the 'Aatmanirbhar Bharat' and
'Make-in-India' initiatives.
About Ministry of Defence :
● Defence Minister : Rajnath Singh
● Minister of State : Sanjay Seth
2024: A Year of Reassessing and Strengthening Defense Partnerships
● The Indian defense sector's push for self-reliance continues, with a focus on reducing
dependence on imports, especially in light of global conflicts such as the Russia-Ukraine war.
● India’s defense exports have increased, reaching 100 countries, signaling growth in its defense
diplomacy and international partnerships.
● India-China Border Talks (October 2024):The 4-year-long India-China standoff, triggered by the
Galwan attack, ended with a diplomatic breakthrough in October 2024.
● Indigenous Development of Aero Engines:India is working on the development of an indigenous
aero engine for the Advanced Medium Combat Aircraft (AMCA) to reduce dependence on foreign
suppliers like the U.S.
● Defense Exports to the U.S.:India's defense exports to the U.S. have grown significantly,
exceeding $2.8 billion over the last five years, reflecting the strengthening defense ties.
Defence Secretary Rajesh Kumar Singh Unveils Rashtraparv Website and Mobile App on Good

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 Important Monthly Current Affairs Capsule – December 2024

Governance Day
● Defence Secretary Shri Rajesh Kumar Singh launched the Rashtraparv Website and Mobile App
on December 25, 2024, which coincided with Good Governance Day.
● Good Governance Day commemorates the birth anniversary of former Prime Minister Shri Atal
Bihari Vajpayee.
● Purpose of the Website and Mobile App:The platform provides information related to national
events such as Republic Day, Beating Retreat Ceremony, and Independence Day.
● Features include live streaming, ticket purchasing, seating arrangements, and event route maps.
India-Sri Lanka Bilateral Naval Exercise SLINEX 24 Held from 17-20 Dec 2024 at Visakhapatnam

● The bilateral naval exercise between India and Sri Lanka is named SLINEX 24 (Sri Lanka - India
Exercise 2024).
● It was conducted from 17-20 December 2024 at Visakhapatnam under the Eastern Naval
Command.
Indian Participation:
● INS Sumitra, part of the Eastern Fleet, participated.
● Special Forces teams also participated from the Indian side.
Sri Lankan Participation:
● SLNS Sayura, an Offshore Patrol Vessel, represented the Sri Lankan Navy.
● Special Forces teams participated from the Sri Lankan side.
● SLINEX exercises were initiated in 2005 and have been conducted regularly since then.
About Sri Lanka :
● President : Anura Kumara Dissanayake
● Prime Minister : Harini Amarasuriya
● Capital : Sri Jayawardenepura Kotte (legislative), Colombo (executive and judicial)
● Currency : Sri Lankan rupee
Indian Army Contingent Leaves for India-Nepal Joint Military Exercise Surya Kiran
● The 18th edition of Exercise SURYA KIRAN involves the participation of Indian and Nepalese
Army contingents.
● The Indian Army contingent consists of 334 personnel and is led by a Battalion from the 11th
Gorkha Rifles.
● The Nepal Army contingent will be represented by the Srijung Battalion.
● The exercise will take place in Saljhandi, Nepal, from 31st December 2024 to 13th January 2025.

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 Important Monthly Current Affairs Capsule – December 2024

History :
● The 17th edition of Joint Military Exercise SURYA KIRAN will be conducted in Pithoragarh, Uttarakhan
from 24th November to 07th December 2023.
● The 1st edition of this exercise was held in Vairengte (Mizoram) India, in 2011.
About Ministry of Defence :
● Defence Minister : Rajnath Singh
● Minister of State : Sanjay Seth
INS Tushil Arrives in Casablanca to Enhance Bilateral Naval Cooperation Between India and Morocco
● INS Tushil arrived at Casablanca, Morocco on 27th December 2024 as part of strengthening bilateral
relations and naval cooperation between India and Morocco.
● Morocco, a maritime nation, holds a unique geographical position with coastlines along both the
Mediterranean and Atlantic Ocean.
● Objective of the Visit:The visit aims to explore avenues for collaboration between the Indian Navy and
Royal Moroccan Navy.
About INS Tushil:
● INS Tushil was commissioned on 9th December 2024 in Russia.
● It is commanded by Captain Peter Varghese and supported by a team of 250 personnel.
● The ship is on its journey towards its home port in Karwar, where it will continue to promote India's
maritime diplomacy through collaborative exercises with friendly foreign navies.
About Morocco :
➔ Prime Minister : Aziz Akhannouch
➔ Capital : Rabat
➔ Currency : Moroccan dirham (MAD)
Indian Navy Inducts Indigenous Warships 'Surat' and 'Nilgiri' in Boost to Aatmanirbharta in Defense
● The Indian Navy received two warships: the destroyer Yard 12707 (Surat) and the frigate Yard 12651
(Nilgiri), marking a significant step towards self-reliance (Aatmanirbharta) in defense.
● Both ships were designed and constructed indigenously by the Warship Design Bureau of the Indian
Navy and Mazagon Dock Shipbuilders Ltd. (MDL), Mumbai.
● Key Objectives:The induction of these warships aligns with the Government of India's emphasis on se
reliance and nation-building.

SCIENCE & TECHNOLOGY

Skylark Teams Up with Fortinet to Launch Cybersecurity Centre of Excellence

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 Important Monthly Current Affairs Capsule – December 2024

• Skylark Information Technologies partnered with Fortinet to establish India’s first Operational
Technology (OT) Centre of Excellence (CoE) in Chennai.
• The CoE aims to provide advanced security solutions specifically tailored for OT environments,
supporting industries such as manufacturing, healthcare, logistics, utilities, and critical
infrastructure like power, oil & gas, and transportation.
• Vivek Srivastava, Fortinet Country Manager India & SAARC inaugurated the CoE.
Central Marine Fisheries Research Institute develops technology for captive breeding of high-value
marine ornamental fishes
• The Indian Council of Agricultural Research - Central Marine Fisheries Research Institute (ICAR-
CMFRI) has developed captive breeding technologies for two high-value marine ornamental fish
species: Azure damsel and Ornate goby.
• The technologies were developed at the Vizhinjam Regional Centre of CMFRI.
• A medium-scale seed production unit producing 24,000 juveniles annually could earn around ₹12
lakh annually, making it an attractive business for entrepreneurs.

Competition Commission of India Initiates Investigation into Google for Alleged Anti-Competitive
Practices in Real Money Gaming Sector
• The Competition Commission of India (CCI) has initiated a detailed investigation against Google
LLC and its affiliates for alleged abuse of dominant position in the real money gaming (RMG)
ecosystem.
• Complaint by Winzo Games:The investigation was prompted by a complaint from Winzo Games
Private Limited, accusing Google of discriminatory practices that disadvantage other gaming app
developers.
About CCI :
• Formed : 14 October 2003
• Headquarters : New Delhi, India
• Chairperson : Ravneet Kaur
• The CCI is the chief national competition regulator in India.
• It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the
Competition Act, 2002 to promote competition and prevent activities that have an appreciable
adverse effect on competition in India.
United States approves $1.17 Billion Deal for MH-60R Helicopter Support Systems

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 Important Monthly Current Affairs Capsule – December 2024

• The United States (US) has approved a possible $1.17 billion deal to sell India support
equipment for MH-60R multi-role helicopters under its Foreign Military Sales programme.
• The deal enhances India's defense capabilities, particularly in maritime and anti-submarine
warfare, which is crucial for its national security.
• MH-60R Helicopters: India had contracted 24 MH-60R helicopters from Lockheed Martin under a
$2.2 billion deal in February 2020.
Indian Space Research Organisation to Launch Long-Delayed Proba 3 Mission Satellites from
Sriharikota
• Indian Space Research Organisation (ISRO) commenced the revised 8.5-hour countdown for the
launch of the European Space Agency’s (ESA) Proba-3 mission on December 5, 2024.
• The original launch was scheduled for December 4, 2024, but was rescheduled to December 5
due to an anomaly in the satellite propulsion system.
• Mission Overview:Proba-3 is a technology demonstration mission to study the Corona (outer
atmosphere) of the Sun.
• The mission involves two spacecraft: Coronagraph (310 kg) and Occulter (240 kg), which will fly
in precise formation (with a separation of 150 meters) to study the Sun's corona.
About ISRO :
• Established: 15 August 1969
• Headquarters: Bangalore, Karnataka, India
• Chairman: S. Somanath
Iran Announces Successful Space Launch in Program Criticized by the West
• Iran conducted a successful satellite launch using the Simorgh rocket, designed to carry
payloads to low Earth orbit.
• This marks a significant step for Iran’s space program, which has faced criticism from the West.
• The launch took place at Iran's Imam Khomeini Spaceport in Semnan province.
• The Simorgh rocket carried an "orbital propulsion system" and two research systems, and it
successfully placed a payload weighing 300 kilograms into a 400-kilometer orbit.
About Iran :
• President : Masoud Pezeshkian
• Capital : Tehran
• Currency : Iranian rial
Indian Institute of Spices Research introduces Surasa, a new variety of ginger

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 Important Monthly Current Affairs Capsule – December 2024

• IISR Surasa is a new ginger variety developed by the ICAR – Indian Institute of Spices Research
(IISR) through a farmers participatory breeding programme.
• The original rhizome of Surasa was discovered in Kodancherry, Kozhikode by farmer John
Joseph.
• The research and development took over six years of testing and trials in various regions.

Indian Institute of Technology Madras Unveils World’s Most Detailed 3D High-Resolution Images of
Human Fetal Brain
• Indian Institute of Technology Madras (IIT Madras) became the first research organization
globally to release the most detailed 3D high-resolution images of the fetal brain.
• A total of 5,132 brain sections were captured digitally using advanced brain mapping technology
developed by the Sudha Gopalakrishnan Brain Centre at IIT Madras.
• The data offers 0.5-micron accuracy and allows analysis at the cellular level.
Chennai-Based Space Startup Space Kidz Plans All-Women Lunar Mission with Global Students by
2026
● Space Kidz, a Chennai-based space startup, is planning an all-women scientific lunar mission
targeting September 2026.
● The mission will involve girl students from classes 8 and 9 across 108 countries working
alongside Space Kidz's team.
● The satellite will have a payload of 80 kg, including an orbiter, lander, and propulsion module,
with a goal of crash-landing on the moon’s surface.
● If successful, it will be the first private player from India to conduct a mission to the lunar surface.
● This follows the success of Space Kidz’s previous mission, AzaadiSat, in February 2023, where a
satellite made by 750 girls was launched by ISRO.
● The mission, named ShakthiSAT, will involve collaboration with global players and educational
institutions, aiming to train 12,000 girls in satellite technology.
● IN-SPACe (Indian National Space Promotion and Authorization Center) is supporting the mission
for academic assistance.
● The project has received backing from NITI Aayog, Hexaware Technologies, Ananth
Technologies, and Lumina Datamatics.
● Founder and chief executive officer (CEO) of Space Kidz India : Srimathy Kesan
Google partners with National Council of Educational Research and Training to enhance access to
quality education across India

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 Important Monthly Current Affairs Capsule – December 2024

● Tech giant Google announced a partnership with the National Council of Educational Research
and Training (NCERT) to bring quality education to far corners of India.
● YouTube Channels for Education : As part of the partnership, NCERT will launch multiple
YouTube channels that are aligned to the curriculum of grades 1 to 12, over the coming months.
● The channels, covering 29 Indian languages, including Indian Sign Language, will offer
educational content in engaging and accessible formats, empowering students, parents, and
teachers across the country.
● Collaboration with NPTEL : In addition, Google also announced a collaboration with the National
Programme on Technology Enhanced Learning to roll out Credentialled Courses.
About Google :
● Founded : September 4, 1998
● Headquarters : California, United States
● CEO : Sundar Pichai
About NCERT :
● Founded : 1 September 1961
● Location : Delhi, India
● Director : Dr. Dinesh Prasad Saklani
● It is an autonomous organisation of the Ministry of Education, the Government of India.
India to enter quantum satellite competition for secure, hack-proof communication network
● India is set to join a select group of countries with quantum satellite capabilities, aiming to create
hack-proof communication networks.
● The satellite will play a crucial role in the National Quantum Mission (NQM), which is focused on
advancing quantum technologies in four verticals: computing, communication, measurement, and
sensing.
● Satellites help overcome the distance limitations of optical fibre, which is effective for only 100-
250 km, by enabling communication over larger distances.
● Quantum satellites can solve this issue by using Quantum Key Distribution (QKD) technology for
secure communication.
● The Union Cabinet has approved ₹6,003.65 crore for the eight-year NQM initiative to accelerate
quantum technology development.
Gaganyaan's communication systems set for testing at the European Space Agency facility in Germany
● Gaganyaan is India's first crewed space mission, aiming to send three astronauts about 400 km
above the Earth's surface for three days.

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 Important Monthly Current Affairs Capsule – December 2024

● It will involve two uncrewed preparatory missions, Gaganyaan-1 (G1) and Gaganyaan-2 (G2),
before the crewed flight.
● The European Space Agency (ESA) is supporting ISRO by providing Ground Tracking Support
for the Gaganyaan mission.
● This includes testing and ensuring compatibility between Gaganyaan’s radio equipment and
ESA’s infrastructure.
● ISRO signed a Technical Implementing Plan (TIP) with ESA on December 4, 2024, to facilitate
ESA's involvement in ground tracking and other aspects of the mission.
● Gaganyaan-1 (G1) Mission: Scheduled for early 2025, G1 will test the safe re-entry of the
spacecraft and its orientation upon landing in the sea.
● ESA’s Kourou station will assist with tracking using a 15m antenna operating in S-band and X-
band wavelengths.
● Radio Equipment Testing: Gaganyaan’s radio equipment, about the size of a suitcase, is being
tested at ESA’s Ground Segment Reference Facility (GSRF) in Germany.
Scientists create 'Kisan Kavach' to protect farmers from pesticide exposure

● The Department of Biotechnology (DBT) and BRIC-inStem Bangalore developed an 'anti-

pesticide' suit named Kisan Kavach to protect farm laborers from harmful pesticide exposure
during spraying activities.
● The project was developed by BRIC-inStem in collaboration with Sepio Health Private. Limited.
and supported by the Ministry of Science and Technology.
● The initiative was unveiled by Union Minister Dr. Jitendra Singh, aligning with the government's
vision to protect farmers through technology and innovation.
Meta rolls out worldwide anti-scam awareness initiative ahead of festive season
● Meta launched a global campaign to help users stay safe from online scams across its platforms,
including WhatsApp, Instagram, and Marketplace.
● Meta introduced new tools to detect and prevent scams on its platforms, aiming to protect users
from fraudulent activities.
● The campaign is a joint initiative with three key Indian government bodies:
➔ Ministry of Electronics and Information Technology (MeitY)
➔ Indian Cybercrime Coordination Centre (I4C)
➔ Ministry of Information and Broadcasting (MIB)
Chinese astronauts set 9-hour spacewalk record, surpassing US milestone in space history

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 Important Monthly Current Affairs Capsule – December 2024

● Chinese astronauts Cai Xuzhe and Song Lingdong set a new world record for the longest single
spacewalk on December 20, 2024.
● Their spacewalk lasted for 9 hours and 9 minutes, surpassing the previous record of 8 hours 56
minutes set by NASA astronauts James Voss and Susan Helms in 2001 during a mission to the
International Space Station (ISS).
● Song Lingdong became the first Chinese astronaut born in the 1990s to complete a spacewalk.
India Develops Its First Indigenous Macrolide Antibiotic -Nafithromycin
● Nafithromycin is India’s first indigenous Macrolide antibiotic, developed by Wockhardt with
support from the Biotechnology Industry Research Assistance Council (BIRAC).
● The drug is marketed as "Miqnaf" and specifically targets Community-Acquired Bacterial
Pneumonia (CABP) caused by drug-resistant bacteria, which significantly affects vulnerable
groups, including children.
China Launches First Atmospheric Monitoring Station in Antarctica
● China's first atmospheric monitoring station in Antarctica, the Zhongshan National Atmospheric
Background Station, began operations.
● It aims to monitor climate changes in Antarctica and support the global response to climate
change.
● This station is China's ninth operational atmospheric monitoring station, marking its first overseas
monitoring station.
● China is also testing 10 new atmospheric monitoring stations within its own borders.
● Purpose of the Zhongshan Station:The station will continuously observe atmospheric component
concentration changes in Antarctica, contributing to long-term data collection.
Indian Space Research Organisation to Investigate Crop Growth in Space with PSLV C60 Mission
● Of the total 24 PS4-Orbital Experiment Module (POEM-4) payloads which will be flown onboard
the PSLV-C60 SpaDeX mission, 4 have been developed by Karnataka-based academia and
start-ups.
● The PSLV-C60 SpaDeX mission is likely to be launched by ISRO by the end of this month from
Sriharikota.
Key Payloads:
● RVSat-1 Payload: Developed by R.V. College of Engineering, Bengaluru. It will conduct a
microbiological experiment on Bacteroides thetaiotaomicron under microgravity conditions to aid
in astronaut health and develop antibiotics.

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 Important Monthly Current Affairs Capsule – December 2024

● BGS ARPIT (Amateur Radio Payload for Information Transmission) Payload: Developed by SJC
Institute of Technology, Chickballapur. It is an amateur radio transmitter that communicates using
FM modulation and the VHF band.
● RUDRA 1.0 HPGP: Developed by Bellatrix Aerospace. It aims to demonstrate a high-
performance green propulsion system.
● GLX-SQ Payload: Developed by GalaxEye Space Solutions. It will demonstrate the generation,
capture, and processing of Synthetic Aperture Radar (SAR) images in space.
● Other Significant Experiments:
● Walking Robotic Arm (RRM-TD): India’s first space robotic manipulator capable of walking,
developed to demonstrate debris capture in space.
● Compact Research Module for Orbital Plant Studies (CROPS): Aimed at demonstrating seed
germination and plant sustenance in a microgravity environment, with a focus on growing
cowpea seeds.
● Amity Plant Experimental Module in Space (APEMS): Developed by Amity University, it will study
spinach growth under microgravity conditions.
About ISRO :
● Formed : 15 August 1969
● Headquarters : Bengaluru, Karnataka
● Chairman : S. Somanath
Indian Space Research Organisation and European Space Agency Collaborate on Advancing Human
Spaceflight
● Indian Space Research Organisation (ISRO) and the European Space Agency (ESA) have
signed an agreement to collaborate on astronaut training, mission implementation, and research
experiments.
● The agreement was signed by ISRO Chairman S. Somanath and ESA Director General Dr. Josef
Aschbacher.
● The cooperation will focus on astronaut training, experiment development and integration
(including the use of ESA facilities on the International Space Station), human and biomedical
research experiments, and joint educational outreach initiatives.
● For the Axiom-4 mission, ISRO's Gaganyatri and an ESA astronaut will be part of the crew.
About European Space Agency :
● Formed : 30 May 1975
● Headquarters : Paris, France

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 Important Monthly Current Affairs Capsule – December 2024

● Director General : Josef Aschbacher

● Members : 22
Start-ups to Lead India's Space Sector Growth in 2025
● India is expected to achieve its first orbital launch in 2025.
● Start-ups like Skyroot and Agnikul are anticipated to complete their sub-orbital launches ahead of
this milestone.
● Public-Private Partnership (PPP) Model:The public-private partnership (PPP) model in India's
space sector has been praised by Lt Gen AK Bhatt (Retd), Director General of the Indian Space
Association (IspA), as a key driver of growth.
● ISRO is collaborating with private players to develop technologies, including Small Satellite
Launch Vehicles (SSLV).
● FASTag GPS, a satellite-based toll collection system, is being piloted by the Ministry of Road
Transport and Highways (MoRTH) to replace the existing FASTag system on expressways,
marking an innovative leap in toll collection.
Indian Space Research Organisation Successfully Performs Sea-Level Hot Test of CE20 Cryogenic
Engine
● Indian Space Research Organisation (ISRO) successfully conducted the sea-level hot test of its
CE20 cryogenic engine.
● Significance of the Test:The test, which includes restart-enabling systems, is a critical step for
ISRO’s future space missions.
● Testing the engine at sea level is challenging due to the high area ratio nozzle with an exit
pressure of approximately 50 mbar.
● The CE20 cryogenic engine is developed by Liquid Propulsion Systems Centre of ISRO.
● It powers the upper stage of the Launch Vehicle Mark-3 (LVM3) and is designed to operate at a
thrust level of 19 tonnes.
IoTech develops technology to directly spray seeds of paddy, chilli, and vegetables using drones
● IoTechWorld Avigation, one of India’s largest drone manufacturers, has developed a process to
directly spray and sow seeds for crops like paddy, chilli, and vegetables, making farming more
efficient.
● The process of broadcasting seeds for crops like paddy has been successful, with results
equivalent to traditional farming methods, improving germination rates and yields.
● IoTechWorld Avigation’s Operations:Founded in 2017, the company launched its first drone in
2018 and has since marketed 3,000 drones across India.

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 Important Monthly Current Affairs Capsule – December 2024

● IoTech has tied up with State Bank of India and Punjab National Bank to provide loans for drone
purchases, including up to 90% financing under the Agri Infrastructure Fund with a 6% effective
interest rate.
● Drone Didis Project:The Drone Didis project aims to encourage women participation in
agriculture by training women (even those with a 10th-grade education) to operate drones and
earn a livelihood.
● The project has been supported by a ₹1,200 crore allocation from the Indian government.
Indian Space Research Organisation Starts Assembling Human Rated Launch Vehicle Mark-3 for
Gaganyaan's First Uncrewed Mission
● Indian Space Research Organisation (ISRO) began assembling the Human Rated Launch
Vehicle Mark-3 (HLVM3) for the Gaganyaan mission’s maiden uncrewed flight on December 18,
2024 at the Satish Dhawan Space Centre (SDSC), Sriharikota, Andhra Pradesh.
● HLVM3 Specifications:The HLVM3 is a three-stage vehicle with a payload capacity of about 10
tonnes to Low Earth Orbit (LEO).
● It is 53 meters tall and weighs 640 tonnes.
● The Crew Module is designed with enhanced safety margins and multiple redundancies for the
safety of the crew.
● Human Rating and Safety Systems:The human-rating of LVM3 has been completed with
enhanced reliability after ground tests and flight tests to ensure the system's performance meets
human safety requirements.
● The Crew Escape System (CES) has been added for crew safety during all ascent phases up to
orbital injection.
● The assembly of HLVM3 coincides with the 10th anniversary of the LVM3-X/CARE mission,
which occurred on December 18, 2014.
TARANG: A 64-bit System Designed for Multi-Tasking, Multi-User, and High Uptime Operations
● TARANG is a 64-bit machine, capable of supporting multi-tasking, multi-programming, multi-user
and time-sharing environments and a balanced design to have 99.5% uptime with adequate
redundancies and to avoid single point of failure so as to meet the operational requirements.
● The HPC system is supported by technical support facilities such as Transformers, Diesel
Generators, UPS, Batteries, Multiple utility paths, Lighting system, Adequate no of earthing pits
and Cables.
● The compute capacity is about 1 Peta FLOPS, with a 2 Peta Byte storage and 3 Peta Byte
archival storage.

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 Important Monthly Current Affairs Capsule – December 2024

European Union Signs Contract for IRIS² Satellite Constellation to Enhance Resilience and Security
7. The European Union (EU) announced that it has signed the contract for the Infrastructure for
Resilience, Interconnectivity and Security by Satellite (IRIS²), a multi-orbital constellation of 290
satellites.
8. Developed in partnership with SpaceRISE, an alliance of leading European satellite operators
and space companies, IRIS² may pose a serious threat to SpaceX’s Starlink internet service,
which is currently available in more than 100 countries and territories worldwide.
9. IRIS² is the European Union’s third flagship addressing and is designed to offer connectivity
services to governmental users as well as private companies and individuals.
Indian Space Research Organisation Prepares First PSLV Orbital Experimental Module Mission to
Explore How Life Functions in Space
● The Indian Space Research Organisation (ISRO) is preparing to launch its PSLV Orbital
Experimental Module-4 (POEM-4) mission, which includes experiments on living biological
materials in space.
● The mission will send spinach, cowpea, and gut bacteria into space for scientific experiments on
growth and adaptation in space conditions.
● Amity University’s APEMS: Amity University, Mumbai, will launch spinach cells aboard ISRO’s
Spadex mission for the Amity Plant Experimental Module in Space (APEMS) experiment.
● This experiment will be conducted in a closed-box environment with thermal control as part of the
Compact Research Module for Orbital Plant Studies (CROPS).
● Significance of POEM-4: POEM-4 will carry 24 payloads, a threefold increase in capacity
compared to the POEM-3 mission.
Japan and India collaborate on startup project to develop laser-equipped satellite for space debris
management
● Space startups from Japan and India have partnered to study the use of laser-equipped satellites
to remove space debris.
● The initiative addresses the problem of orbital congestion and aims to offer solutions for debris
removal in space.
● Objective of the Project:The study aims to explore business opportunities for space services,
particularly focused on removing orbital debris and enhancing satellite lifecycles.
● This project adds to the growing collaboration between Japan and India in space exploration,
particularly the Lunar Polar Exploration (LUPEX) mission, planned for launch around 2026.
● Funding:Orbital Lasers has raised ¥900 million ($5.8 million) since its establishment in January.

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 Important Monthly Current Affairs Capsule – December 2024

● InspeCity raised $1.5 million in 2023.

About Japan :
● Prime Minister : Shigeru Ishiba
● Capital : Tokyo
● Currency : Japanese yen
India Launches Its First Undergraduate Minor Program in Quantum Technologies
● The All India Council for Technical Education (AICTE) collaborated with the National Quantum
Mission (NQM) under the Department of Science and Technology (DST) to launch the first
Undergraduate (UG) Minor Programme in Quantum Technologies in India.
● Purpose of the Initiative:The program aims to prepare India's workforce for the upcoming
quantum revolution and position India as a global leader in quantum innovation.
About AICTE :
● Formation : November 1945
● Headquarters : New Delhi, India
● Chairman : T. G. Sitharam
● AICTE is a statutory body, and a national-level council for technical education, under the
Department of Higher Education.
About DST :
● Formed : May 3, 1971
● Headquarters : New Delhi, India

CURRENT AFFAIRS: BOOKS AND AUTHOR

Amitava Kumar’s My Beloved Life explores the fractures of history with the tale of a father and daughter
• Amitava Kumar's novel, "My Beloved Life," captures the essence of ordinary lives intersecting
with extraordinary historical and social transformations in India. Here's a breakdown:
• The story revolves around Jadunath “Jadu” Kunwar, a peasant’s son, and his daughter Jugnu.
• Their lives reflect the trials, triumphs, and societal changes in India from pre-Independence to the
pandemic era.

SPORTS NEWS
Hockey India League 2024-25: Doordarshan Partnership and Key Relaunch Updates

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 Important Monthly Current Affairs Capsule – December 2024

• Hockey India has signed a historic three-year partnership with Doordarshan (DD), ensuring
extensive nationwide coverage of the Hockey India League (HIL).
• Set to return in the 2024-25 season after a seven-year hiatus, the league aims to revolutionise
Indian hockey with its renewed format and robust commercial structure.
• The collaboration guarantees nationwide broadcast coverage, leveraging Doordarshan’s vast
audience network.

Max Verstappen Wins Qatar Grand Prix as Lando Norris Penalized

• Max Verstappen clinched a dramatic victory in the Qatar Grand Prix, following a series of
penalties and incidents that turned the race on its head.
• The race, marked by a controversial 10-second stop-and-go penalty for Lando Norris, saw
Verstappen dominate after the McLaren driver dropped to the back of the field.
Kumar Nitesh Nominated for BWF Men’s Para-Badminton Player of the Year
• India's Paralympic champion, Kumar Nitesh, has been nominated for the prestigious Men’s Para-
Badminton Player of the Year award by the Badminton World Federation (BWF).
• This recognition comes after his remarkable achievement of winning a gold medal in the SL3
category at the Paris Paralympics.
• Category: Men’s Para-Badminton Player of the Year
• Nitesh’s Achievements:
o Paris Paralympics: Gold medalist in the SL3 category.
o World Championships: Two-time silver medalist and one-time bronze medalist.

Men’s Junior Asia Cup 2024: India defeats Pakistan 5-3 in finals to win its fifth title
• The Indian junior men’s hockey team clinched its fifth Men’s Junior Asia Cup title by defeating
Pakistan 5-3 in the final held in Muscat, Oman on December 4th 2024.
• India has now won the Junior Asia Cup a record five times:
2004, 2008, 2015, 2023, and 2024.
• This title defense highlights India’s consistent dominance in junior hockey.
Cash Rewards Announced by Hockey India
• ₹2 lakhs for each player.
• ₹1 lakh for each support staff member.
ICC Men’s Player of the Month Nominees for November 2024

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 Important Monthly Current Affairs Capsule – December 2024

• The ICC has announced the nominees for the Men’s Player of the Month award for November
2024, featuring three standout fast bowlers: Jasprit Bumrah (India), Marco Jansen (South Africa),
and Haris Rauf (Pakistan).
• These players have been recognized for their exceptional performances across formats during
the month.
• Claimed 8 wickets in a commanding display during India’s 295-run victory over Australia in the
first Border-Gavaskar Trophy Test in Perth.

Lando Norris Wins Abu Dhabi GP and Secures McLaren's First Constructors' Title Since 1998
• Lando Norris triumphed at the Abu Dhabi Grand Prix capping off an extraordinary Formula One
season by clinching the Constructors' Championship for McLaren.
• This marks McLaren’s first such victory since 1998, edging out rivals Ferrari in a nail-biting finale.
• Norris, starting from pole position, delivered a flawless performance to secure victory.

SkaSports and Angkor Tiger Build Landmark Football Stadium in Cambodia

• SkaSports Investments Private Limited, an Indian sports business, has partnered with Angkor
Tiger Football Club in Cambodia to inaugurate a state-of-the-art football stadium in Siem Reap,
renowned for its proximity to the UNESCO World Heritage site, Angkor Wat.
• Construction of the stadium, covering three hectares, has been completed at a cost of $2 million
(₹16.5 crore).
• The venue features a seating capacity of 2,000 and 1,500 lux floodlights, ensuring high-quality
lighting for games.
Indian Archers Shine on Global Stage: Jyothi Surekha Vennam and Abhishek Verma Impress
• Indian archers continue to achieve remarkable success in the international indoor circuit, with
Jyothi Surekha Vennam and Abhishek Verma making significant podium finishes at the GT
Open, part of the Indoor Archery World Series, held in Strassen, Luxembourg.
• Jyothi Surekha Vennam – Gold Medalist
• The 28-year-old archer from Vijayawada clinched gold in the compound category.
• Qualified fifth in the ranking round with a score of 593.

Scottie Scheffler Dominates Hero World Challenge with a Flawless Final Round
• World No. 1 Scottie Scheffler delivered a bogey-free final round to claim the Hero World
Challenge title at the Albany course.

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 Important Monthly Current Affairs Capsule – December 2024

• His stellar performance secured his ninth victory of the year, earning him $1 million and placing
him alongside tournament host Tiger Woods and Viktor Hovland as the only players to retain the
trophy in consecutive years.
• Final Standings
• Position • Player • Score
• 1 • Scottie Scheffler • 25-under 263
• 2 • Tom Kim • 19-under
• 3 • Justin Thomas • 18-under
• 4 • Akshay Bhatia • 15-under
• 5 • Keegan Bradley • 14-under

WTA Player Awards 2024: Aryna Sabalenka and Others Honored

• Aryna Sabalenka, the 26-year-old Belarusian tennis star, received the prestigious WTA Player of
the Year award for 2024.
• Won two Grand Slam titles: Australian Open (January) and U.S. Open (September).
• Secured the No. 1 spot in the WTA rankings in October, overtaking Iga Swiatek.
FIFA Confirms Hosts for 2030 and 2034 Men's Football World Cups
• The 2030 FIFA World Cup will be jointly hosted by Spain, Portugal, and Morocco.
• To commemorate the tournament's 100th anniversary, three matches will be played in Argentina,
Paraguay, and Uruguay, where the first World Cup took place in 1930.
• 2034 World Cup: Saudi Arabia
• Saudi Arabia has been awarded hosting rights for the 2034 World Cup, marking a significant
milestone in the country's growing role in global sports.
D Gukesh Becomes Youngest World Chess Champion
• Indian Grandmaster D Gukesh, aged 18, has made history by defeating reigning champion Ding
Liren to become the youngest World Chess Champion.
• The milestone was achieved on December 12, 2024, during the World Chess Championship in
Singapore.
• Gukesh clinched the title by scoring 7.5 points over Ding Liren's 6.5 points in the 14-game
classical match.

New Badminton High-Performance Centre Inaugurated at Kalinga Stadium

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 Important Monthly Current Affairs Capsule – December 2024

• Odisha continues its commitment to advancing sports infrastructure with the inauguration of a
Badminton High-Performance Centre at the prestigious Kalinga Stadium in Bhubaneswar.
• The inauguration ceremony was graced by Odisha Chief Minister Mohan Majhi and Assam Chief
Minister Himanta Biswa Sarma, who also serves as the President of the Badminton Association
of India.
Imad Wasim Announces Retirement from International Cricket
● Pakistan’s star all-rounder, Imad Wasim, announced his retirement from international cricket marking
the end of a remarkable nine-year career.
● Despite retiring from the international scene, Imad plans to continue playing in domestic and
franchise cricket, ensuring his continued engagement with fans worldwide.
Shaheen Shah Afridi Makes History: Youngest to 100 Wickets in All Formats
● Shaheen Shah Afridi has achieved a historic milestone by becoming the youngest bowler to take
100 wickets across Tests, ODIs, and T20Is, cementing his place in cricketing history.
● Afridi, aged 24 years and 248 days, accomplished this during the first T20I against South Africa,
where he delivered an outstanding performance despite Pakistan’s narrow loss.
● Youngest Bowler in History: At just 24 years and 248 days, Afridi is the youngest to achieve 100
wickets in all three international formats.
● First Pakistani Bowler: Afridi becomes the first player from Pakistan to reach this milestone, joining
an elite group of cricketers worldwide.
Comparison with Other Milestone Achievers
Player Tests ODIs T20Is Age Matches Played
Shaheen Shah Afridi 116 112 100 24 years, 248 days 161
Tim Southee 389 221 164 32 years, 319 days 306
Shakib Al Hasan 246 317 149 34 years, 138 days 357
Lasith Malinga 101 338 107 36 years, 9 days 332
Women's Hockey Junior Asia Cup 2024: India beat China in the shootout to defend the title
● The Indian women's junior hockey team successfully defended their Women’s Junior Asia Cup title
with a thrilling 3-2 penalty shoot-out win over China in the final held in Muscat, Oman.
● The match ended 1-1 in regulation time, with India securing their second consecutive title after their
victory in the 2023 edition.
● This win also guaranteed India a spot in the 2025 FIH Women’s Junior Hockey World Cup in Chile,
alongside other top teams like China, Japan, South Korea, and Malaysia.
● The tournament took place in Muscat, Oman, from December 7 to December 15, 2024.

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 Important Monthly Current Affairs Capsule – December 2024

Mumbai Clinches Syed Mushtaq Ali Trophy 2024 with Five-Wicket Win Over Madhya Pradesh
● Mumbai won the Syed Mushtaq Ali Trophy 2024 with a commanding five-wicket victory over Madhya
Pradesh in the final at the M Chinnaswamy Stadium, Bengaluru.
● This was Mumbai's second Syed Mushtaq Ali Trophy title after their first win in 2022.
R. Ashwin Becomes Leading Wicket-Taker in ICC World Test Championship (WTC)
● India's premier all-rounder, R. Ashwin, achieved a significant milestone during the second Test
against New Zealand at the MCA Stadium in Pune.
● On Day 1, Ashwin claimed the wickets of Tom Latham and Will Young, surpassing Australian off-
spinner Nathan Lyon to become the highest wicket-taker in the history of the ICC World Test
Championship (WTC).
Richa Ghosh Smashes Fastest Fifty in Women’s T20I History
● Indian wicketkeeper-batter Richa Ghosh achieved a remarkable milestone, equaling the record for
the fastest half-century in women’s T20I history during the series decider against the West Indies at
the DY Patil Sports Academy.
● Richa scored an explosive 18-ball fifty, tying the world record with New Zealand’s Sophie Devine
and Australia’s Phoebe Litchfield.
Liam Lawson Replaces Sergio Perez at Red Bull for 2025 Season
● Red Bull has announced that Liam Lawson will replace Sergio Perez as the team’s second driver
alongside four-time World Champion Max Verstappen in the 2025 Formula 1 season.
● Sergio Perez confirmed he would be leaving Red Bull with immediate effect, despite having two
years remaining on his contract.
India to Host 2025 Para Athletics World Championships:
● India is set to host the 2025 Para Athletics World Championships for the first time, marking a historic
milestone in its sporting journey.
● The event will be held from September 26 to October 5, 2025, at the iconic Jawaharlal Nehru
Stadium in New Delhi, further cementing India’s growing role in promoting inclusivity in sports.
India Clinches Inaugural Women’s U-19 Asia Cup with a 41-Run Win Over Bangladesh
● India secured a commanding 41-run victory against Bangladesh to claim the inaugural Women’s
U-19 Asia Cup title at the Bayuemas Oval, Kuala Lumpur.
● The historic win highlighted India's growing dominance in women’s cricket, with standout
performances from Gongadi Trisha and Aayushi Shukla.
● Top Performer: Gongadi Trisha scored a crucial 52 off 47 balls, including five fours and two
sixes.

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 Important Monthly Current Affairs Capsule – December 2024

Manu Bhaker Misses Out on Major Dhyan Chand Khel Ratna Award Nomination
● Manu Bhaker, India's ace shooter and the first woman to win multiple Olympic medals in a single
edition, wasn't nominated for the Major Dhyan Chand Khel Ratna Award, the country's highest
sporting honor.
● Despite double bronze medal wins at the Paris Olympics, Manu was excluded from the
nominations list.
● The sports ministry claimed Manu did not apply for the award, but sources close to her family
denied this, stating she had indeed submitted her application.
● Controversy over omission: The exclusion is particularly surprising since Mohammed Shami, who
had also not applied for the Arjuna Award in 2023, was included after the BCCI intervened.
Russian Tennis Player Daniil Savelev Suspended for Doping Violation
● The International Tennis Integrity Agency (ITIA) has imposed a two-year suspension on Russian
tennis player Daniil Savelev for violating doping regulations.
● Savelev tested positive for the prohibited substance meldonium in July 2024. Although the doping
was deemed unintentional, Savelev accepted the suspension.
Champions Trophy 2025: Team India's Predicted Squad For CT 2025
● The 9th edition of the ICC Champions Trophy will occur from 19 February to 9 March 2025 in
Pakistan.
● Eight teams will compete in a round-robin format. The tournament culminates in the final at the
Gaddafi Stadium, Lahore, with 10 March reserved as a contingency day.
While official confirmation of India’s participation and squad is awaited, the anticipated team includes:
Player Name Role
Rohit Sharma (Captain) Batsman
Yashasvi Jaiswal Batsman
Shubman Gill Batsman
Sanju Samson Wicketkeeper/Batsman
Virat Kohli Batsman
Shreyas Iyer Batsman
Rishabh Pant Wicketkeeper/Batsman
KL Rahul Wicketkeeper/Batsman
Hardik Pandya (Vice-Captain) All-rounder
Suryakumar Yadav Batsman

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 Important Monthly Current Affairs Capsule – December 2024

Ravindra Jadeja All-rounder

Axar Patel All-rounder
Yuzvendra Chahal Bowler
Jasprit Bumrah Bowler
Mohd. Shami Bowler
Mohd. Siraj Bowler
Kuldeep Yadav Bowler
Harish Sharma 3×3 Basketball Championship 2024: Honoring a Visionary Leader
➔ The Harish Sharma 3×3 Basketball Championship 2024 will occur on December 28 and 29 at the
KD Jadhav Indoor Hall, Indira Gandhi Sports Complex, New Delhi.
➔ Organized by the Delhi Basketball Association, this event commemorates Harish Sharma, a
legendary international basketball player and former Secretary General of the Basketball Federation
of India.
Andy Pycroft Joins Elite Club with 100th Test as Match Referee
● Andy Pycroft, former Zimbabwe captain, achieved a remarkable milestone by officiating his 100th
men's Test match as a referee during the Boxing Day Test between India and Australia.
● He is now part of an exclusive group of match referees who have reached this significant mark.
Vijayveer Sidhu Triumphs in Rapid-Fire Pistol at 67th National Shooting Championship
● Vijayveer Sidhu, a 22-year-old shooter who finished ninth at the Paris Olympics, emerged victorious
in the rapid-fire pistol event of the 67th National Shooting Championship at the Dr. Karni Singh
Range, Tughlakabad.
● Sidhu defeated Olympian Gurpreet Singh with a score of 28-25 in a gripping finale.
● Winner: Raajwardan Paatil, who dominated with three perfect-5 series to secure a 31-23 victory over
Suraj Sharma.
● Bronze: Abhinav Choudhary, followed by Jatin, Bhavya Sharma, and Mukesh Nelavalli.
Notable Performances and Misses
● Olympian Anish Bhanwala finished 22nd with a total of 568 points.
● Adarsh Singh placed 28th with a total of 565 points in a competitive field of 123 shooters.
Kho Kho World Cup 2025: Salman Khan Appointed Brand Ambassador
● The Kho Kho Federation of India (KKFI) has officially announced Bollywood superstar Salman Khan
as the brand ambassador for the inaugural Kho Kho World Cup, scheduled to take place in New
Delhi from January 13 to 19, 2025.

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 Important Monthly Current Affairs Capsule – December 2024

● This historic event aims to elevate the traditional Indian sport of Kho Kho to a global platform,
featuring participation from 24 countries.
Deepti Sharma Shines as India Secures a 3-0 Series Sweep Against West Indies
● India’s bowling coach, Aavishkar Salvi, hailed Deepti Sharma as a "modern-day legend" of the final
women’s ODI.
● At the Kotambi Stadium, Deepti lived up to the praise, delivering a stellar all-round performance that
secured India a five-wicket victory against West Indies and sealed a 3-0 series sweep.
Sachin Tendulkar Receives Honorary Cricket Membership from the Melbourne Cricket Club (MCC)
● Sachin Tendulkar, the legendary Indian cricketer, was honored with an Honorary Cricket
Membership by the Melbourne Cricket Club (MCC), recognizing his immense contribution to the
game of cricket.
● The MCC, one of the oldest and most prestigious sports clubs in Australia, announced the news via
social media, celebrating Tendulkar's legacy in the sport.
● MCC’s Legacy: Founded in 1838, the MCC is responsible for managing and developing the iconic
Melbourne Cricket Ground (MCG), one of the most celebrated cricket venues globally.
Shreyanka Patil: Nominated for ICC Women's Emerging Cricketer of the Year 2024
● The 22-year-old spinner Shreyanka Patil has earned a nomination for the prestigious ICC Women’s
Emerging Cricketer of the Year Award, reflecting her stellar performances throughout the year in
international cricket.
● Other Nominees:
○ Annerie Dercksen (South Africa)
○ Saskia Horley (Scotland)
○ Freya Sargent (Ireland)
Historic Achievement
● First Indian to participate in the Women’s Caribbean Premier League in December 2023.
Koneru Humpy's Triumph at the 2024 Women’s World Rapid Chess Championship
● Indian chess legend Koneru Humpy achieved another monumental feat by winning her second
Women’s World Rapid Chess Championship title in New York at the age of 37.
● Her victory is a testament to her resilience and love for the game, having made a remarkable
comeback despite contemplating retirement.
● Humpy's journey is an inspiring tale of balancing motherhood, family support, and a demanding
professional chess career.

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 Important Monthly Current Affairs Capsule – December 2024

OBITUARIES
Ex-Australian Cricketer Ian Redpath Passed Away
• Ian Redpath, one of Australia's most respected opening batters, has passed away at the age of
83.
• Born in Geelong, Victoria.
• Redpath played 66 Tests and 5 One-Day Internationals (ODIs) for Australia between 1964 and
1976.
Aussie Davis Cup Legend Neale Fraser Passed away
• Neale Fraser, who won three Grand Slam singles titles and guided Australia to four Davis Cup
titles during a 24-year career as team captain, has passed away at the age of 91.
• Neale Fraser born on 3 October 1933 in Melbourne, Victoria, Australia.
• Fraser won the 1960 Wimbledon title, defeating Australian tennis great Rod Laver.
• Grand Slam Achievements: Fraser won 19 Grand Slam titles, which included:

Raj Manchanda, the 'Veteran Strategist' of Indian Squash, Passed away

• Brig Raj Manchanda, the `Old Fox’ of Indian squash, passed away in Delhi at the age of 80.
• Manchanda born on 5th August 1945 in Abohar, Punjab, Manchanda became one of India's most
celebrated squash players.
S M Krishna, former Karnataka CM and visionary behind 'Brand Bengaluru,' passed away
• S M Krishna, former Chief Minister of Karnataka, passed away at the age of 92.
• Krishna had a political career spanning nearly six decades.
• He was first elected as a member of the Karnataka Assembly in 1962 as an independent
candidate and later joined the Praja Socialist Party, before moving to the Congress in 1967.

Award-winning U.S. poet Nikki Giovanni Passed away

• Nikki Giovanni, the charismatic and iconoclastic poet, activist, children’s book author and
professor who wrote, irresistibly and sensuously, about race, politics, gender, sex and love,
passed away in Blacksburg at the age of 81.
• Giovanni was a leading figure in the Black Arts Movement, which flourished between 1965 and
1974, alongside other notable figures like Maya Angelou, James Baldwin, and Audre Lorde.

Legendary tabla maestro Ustad Zakir Hussain Passed away

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 Important Monthly Current Affairs Capsule – December 2024

● Ustad Zakir Hussain, the legendary tabla maestro, passed away on December 15, 2024, at the
age of 73 in San Francisco.
● Born on March 9, 1951, in Mumbai, India, Zakir Hussain was the eldest son of Ustad Alla Rakha,
another legendary tabla player.
Notable Achievements:
● He won four Grammy Awards, including three awards at the 66th Grammy Awards in 2024, in the
categories of Global Music Performance, Contemporary Instrumental Album, and Instrumental
Composition.
● He received numerous awards, including Padma Shri (1988), Padma Bhushan (2002), Padma
Vibhushan (2023), Sangeet Natak Akademi Award, and USA's National Heritage Fellowship.

Former Karnataka Chief Minister and Union Minister SM Krishna passed away
● Former Karnataka Chief Minister and Union Minister SM Krishna passed away at the age of 92.

Economic historian Amiya Kumar Bagchi Passed away

● Economic historian Amiya Kumar Bagchi passed away.
● He is known for his work on underdevelopment and imperialism.
● He authored books such as Private Investment in India 1900-1939, The Political Economy of
Underdevelopment and Perilous Passage.
● He was the founder-director of the Institute of Development Studies, Kolkata.
● He was awarded the Padma Shri in 2005.

Epigamia Co-Founder Rohan Mirchandani Passed away

● Rohan Mirchandani, co-founder of Epigamia, passed away on December 21 at the age of 42 due
to a cardiac arrest.
● In 2013, Mirchandani founded Drums Food International, which later became known for
Epigamia, a leading Greek yogurt brand in India.

Legendary Filmmaker Shyam Benegal Passed Away

● Shyam Benegal, the renowned Indian filmmaker, passed away at the age of 90 in Mumbai.
● Benegal was regarded as a pioneer of parallel cinema in India, especially during the 1970s and
1980s.
Awards and Honors:

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 Important Monthly Current Affairs Capsule – December 2024

● Benegal won 18 National Film Awards, including for films like Bhumika (1977), Junoon (1978),
Arohan (1982), Netaji Subhas Chandra Bose: The Forgotten Hero (2004), and Well Done Abba
(2010) and a Nandi Award.
● He was awarded the Dadasaheb Phalke Award (2005), India's highest award in cinema.
● He received the Padma Shri (1976) and Padma Bhushan (1991) from the Government of India.
● He was also honored with the V Shantaram Lifetime Achievement Award in 2018.

M.T. Vasudevan Nair, Modern Kerala’s Beloved Storyteller, Passed Away

● M.T. Vasudevan Nair, one of India’s greatest writers of all time, died in Kozhikode at the age of
91.
● Born on July 15, 1933, in Kudallur, near Ponnani, Kerala.
Awards and Recognition:
● Jnanpith Award in 1995, India's highest literary honor.
● Padma Bhushan in 2005, India's third-highest civilian award.
● National Film Award for Best Screenplay four times for his work on films: Oru Vadakkan
Veeragatha (1989), Kadavu (1991), Sadayam (1992), and Parinayam (1994)
● Won the Best Short Story Prize in the World Short Story Competition conducted by The New
York Herald Tribune at the age of 20.
● His short story Asuravithu was praised as the best novel in Malayalam by critics like M.
Leelavathi.

Osamu Suzuki, the Leader Who Introduced Japanese Automaker to India, Passed Away
● Osamu Suzuki, the long-serving leader of Suzuki Motor Corporation, passed away on December
25, 2024, at the age of 94.
● Suzuki led the company for over four decades, transforming it into a global automotive giant.

Abdul Rehman Makki, Deputy Leader of Pakistan-based LeT, Passed Away

● Hafiz Abdul Rahman Makki, deputy chief of Pakistan-based terrorist group Jamaat-ud-Dawa
(JuD), died due to a heart attack in Lahore.
● Makki was implicated in terror financing related to the 26/11 Mumbai terror attacks (2008), which
resulted in 164 deaths.

Former Indian Prime Minister Manmohan Singh Passed Away

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 Important Monthly Current Affairs Capsule – December 2024

● India’s former prime minister Manmohan Singh, who steered the country through sweeping
reforms and paved the way for its emergence as a global economic powerhouse, passed away at
the age of 92 in New Delhi.
● Singh was born on 26 September 1932, in Gah, Punjab, British India.
● He was an Indian politician, economist, academic, and bureaucrat, who served as the 13th prime
minister of India from 2004 to 2014.
● He was the 4th longest-serving prime minister after Jawaharlal Nehru, Indira Gandhi and
Narendra Modi.
● He was the first Sikh Prime Minister of India and the first non-Hindu to hold the post.
Awards and Honors:
● Padma Vibhushan (1987) – India's second-highest civilian honor.
● Jawaharlal Nehru Birth Centenary Award (1995).
● Outstanding Parliamentarian Award (2002).
● Wright Prize (1995) and Adam Smith Prize (1996) – Recognized for academic achievements.

Indian National Lok Dal supremo and former Haryana chief minister Om Prakash Chautala passed
away
● Indian National Lok Dal (INLD) supremo and former Haryana chief minister Om Prakash
Chautala passed away in Gurugram.
● Om Prakash Chautala, son of former Deputy Prime Minister of India Chaudhary Devi Lal, served
as the 7th chief minister of Haryana.
● Chautala has served as the CM of Haryana from December 1989 to May 1990; July 1990 to July
1990; from March 1991 to April 1991 and, finally, from July 1999 to March 2005.
Warren Upton, the Longest-Living Survivor of the Pearl Harbor Attack, Passed away
● Warren Upton, the oldest known survivor of the Pearl Harbor attack, passed away on December
25, 2024, at the age of 105 in Los Gatos, California, following pneumonia.
● Upton was 22 years old during the attack on Pearl Harbor and served aboard the USS Utah.
● The USS Utah, a battleship, was one of the targets of the Japanese attack on December 7, 1941,
which led to the U.S. entry into World War II.

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 Important Monthly Current Affairs Capsule – January 2025

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 Important Monthly Current Affairs Capsule – January 2025

S. No Topics Page No

1. IMPORTANT DAYS 03

2. BANKING AND ECONOMY 07

3. NATIONAL NEWS 68

4. INTERNATIONAL NEWS 98

5. STATE NEWS 106

6. BUSINESS NEWS 119

7. AWARDS AND HONOURS 131

8. APPOINTMENTS & RESIGNATIONS 136

9. MOUS AND AGREEMENT 162

10. RANKING AND INDEXES 172

11. ACQUISITIONS & MERGERS 175

12. DEFENCE NEWS 182

13. SCIENCE & TECHNOLOGY 187

14. SPORTS NEWS 199

15. OBITUARIES 210

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 Important Monthly Current Affairs Capsule – January 2025

IMPORTANT DAYS

Global Family Day: 1st January

● Global Family Day 2025 is observed on the 1st of January 2025.
● Every year, Global Family Day, also known as World Peace Day, is observed to encourage the
idea of peace and unity in the world.
● On the first day of the new millennium, in 1997, the United Nations General Assembly declared
the International Decade for the Culture of Peace and Nonviolence for the Children of the World.
World Braille Day 2025 : 4th January
● World Braille Day is observed annually on January 4 to honour Louis Braille, the inventor of the
Braille system, which has had a profound impact on the literacy, independence, and inclusivity of
visually impaired individuals.
● This day highlights the significance of accessibility and inclusivity in society.
● Date Observed: January 4
First Observed: January 4, 2019
UN Recognition: Declared by the UNGA in November 2018
World Day of War Orphans 2025: 6th January
● World Day of War Orphans 2025 is observed on the 6th January 2025.
● According to UNICEF, there were "almost 140 million orphans worldwide" as of 2015.
World Hindi Day: 10th January
● World Hindi Day 2025 is observed on the 10th of January 2025.
● The inaugural World Hindi Conference, or Vishva Hindi Sammelan, was held in Nagpur,
Maharashtra, in 1975, which is when World Hindi Day first became a thing.
● This day was dedicated to honoring both the Hindi language and the many authors who have
contributed to its literature.
National Human Trafficking Awareness Day: 11th January
● National Human Trafficking Awareness Day 2025 is observed on the 11th January 2025.
● The fight against human trafficking made progress in the late 20th and early 21st centuries.
● The Trafficking Victims Protection Act, which was passed in 2000, was the first federal statute to
address contemporary slavery.
National Youth Day: 12th January
● National Youth Day 2025 is observed on the 12th January 2025.

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 Important Monthly Current Affairs Capsule – January 2025

● On January 12, 1984, the Indian government declared Swami Vivekananda's birthday as
National Youth Day for the first time.
The Indian Army Day is commemorated each year on January 15th.
● Army Day is celebrated on 15 January every year in India, in recognition of Lieutenant
General Kodandera M. Cariappa's (later who became Field Marshal ) taking over as the first
Commander-in-Chief of the Indian Army from General Francis Roy Bucher, the last
British Commander-in-Chief of India, on 15 January 1949.
● The 77th Indian Army Day will be celebrated with a grand light and sound show in Pune,
depicting the evolution of Indian warfare across different periods of history.
National Startup Day in India is being observed on January 16, 2025
● Prime Minister Narendra Modi declared January 16 as National Startup Day in the year 2021.
● National Startup Day celebrates India's growing startup ecosystem and encourages
entrepreneurship, innovation, and job creation.
● India is now the third-largest startup ecosystem globally.
● The number of DPIIT-recognised companies has grown from around 500 in 2016 to 1,59,157 as
of January 15, 2025.
● The Startup India initiative, launched by Prime Minister Narendra Modi on January 15, 2016,
marked the beginning of the Startup India Innovation Week.
Tripura, Manipur, and Meghalaya Foundation Day 2025 : 21st January
● Tripura, Manipur, and Meghalaya Foundation Day is observed on the 21st January.
● Two princely states, Manipur and Tripura, united with India in 1949.
● Later, they were given the status of a union territory. In 1972, Meghalaya and Tripura were
granted full sovereignty.
● The Mizo Accord was ratified in 1986, and Mizoram became a sovereign state in 1987. NEFA, or
Arunachal Pradesh, received full statehood in 1987.
Netaji Subhas Chandra Bose Jayanti: 23rd January
● Netaji Subhas Chandra Bose Jayanti is observed on the 23rd of January 2025.
● In Cuttack, Orissa/Odisha, on January 23, 1897, Netaji Subhas Chandra Bose was born.
● With the motto “Delhi Chalo,” Netaji organized and oversaw a 5,000-man army known as the Azad
Hind Fauj (Indian National Army) in Southeast Asia during World War II in 1942.
● To win over the people in his native Bengal, he also started a new political party called “the Forward
Bloc.”

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 Important Monthly Current Affairs Capsule – January 2025

International Day of Education: 24th January

● International Day of Education is observed on the 24th January 2025
● The UN General Assembly declared the International Day of Education in December 2018 as a
way to honor education and to think about how crucial learning is to progress and peace.
National Girl Child Day: 24th January
● National Girl Child Day is observed on the 24th January 2025.
● The Ministry of Women and Child Development of the Government of India established National
Girl Child Day in 2008, marking the beginning of the day’s history.
National Voters Day: 25th January
● National Voters Day is observed on the 25th of January.
● This Year’s Theme “Nothing Like Voting, I Vote for Sure”is a continuation of last year’s theme
emphasizing the importance of participation in the electoral process, and encouraging voters to
take pride in exercising their franchise.
● The Election Commission of India (ECI), which was established in 1950, was founded on January
25.
● In order to encourage young people to participate in the election process, this day was first
observed in 2011.
● Let us inform you that while the voting age was once 21 years old, it was decreased to 18 years
old in 1988.
National Tourism Day: 25th January
● National Tourism Day is observed on the 25th of January 2025.
● National Tourism Day has a long history dating back to the Indian government’s proclamation of
January 25 as Tourism Day in India.
● This day was created to highlight the value of travel and raise awareness of how vital it is to the
economy of the nation.
● It is believed that the first National Tourism Day was celebrated in 1948.
International Day Of Clean Energy: 26 January
● The International Day Of Clean Energy is celebrated every year on the 26th of January 2025.
● The United Nations General Assembly (UNGA) adopted the resolution A/RES/77/327 on 25 August
2023 and declared that the International Day of Clean Energy will be observed every year on 26th
January.
● International Day of Clean Energy 2025 was declared by the United Nations General Assembly

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 Important Monthly Current Affairs Capsule – January 2025

(UNGA) to raise awareness and mobilize action for a just and inclusive transition to clean energy
for the benefit of the people and the planet.
● 26th January also marks the founding date of the International Renewable Energy Agency
(IRENA).
International Holocaust Remembrance Day 2025: January 27
● International Holocaust Remembrance Day 2025 is observed every year on the 27th January.
● The UN General Assembly adopted resolution 60/7 on November 1, 2005, to designate January
27 as the International Holocaust Remembrance Day (IHRD).
● On January 27, 2006, the first commemoration of International Holocaust Remembrance
Day was held at the UN Headquartered in New York City.
● After that UN Headquarters commemorates this day every year.
World Leprosy Day: 26th January
● World Leprosy Day 2025 is observed on the last Sunday of January, i.e., 26th January 2025.
● The disease is also called Hansen’s disease, named after the Norwegian doctor Gerhard Henrik
Armauer Hansen, who is known for identifying the bacteria that causes Leprosy.
● French philanthropist Raoul Follereau started World Leprosy Day in 1954 to raise awareness of
the illness, particularly its socioeconomic effects. World Leprosy Day is observed on the last
Sunday of January.
● To honor Mahatma Gandhi’s unwavering compassion for those suffering from the disease, the day
is marked in India on January 26, the anniversary of his passing.
International Customs Day: 26th January
● International Customs Day 2025 is observed on the 26th January 2025.
● The European Customs Union Study Group (E.C.U.S.G.) was established by the Committee for
European Economic Cooperation in 1948 to investigate the feasibility of establishing one or more
inter-European customs unions.
● To increase the effectiveness of customs administrations around the world, the Customs
Cooperation Council (C.C.C.) was established in 1952.
● In 1983, the group established International Customs Day.
Birth Anniversary of Lala Lajpat Rai: 28th January
● The birth Anniversary of Lala Lajpat Rai is observed on the 28th of January 2025.
Data Protection Day: January 28, 2025
● Data Protection Day, also known as Data Privacy Day, is celebrated annually on January 28.

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 Important Monthly Current Affairs Capsule – January 2025

● The purpose of this day is to raise awareness about data protection and privacy rights,
emphasizing the need for individuals to safeguard their personal information in an increasingly
digitized world.
World Neglected Tropical Diseases Day 2025: 30th January
● The World Neglected Tropical Diseases Day 2025 is celebrated every year on the 30th of January
2025.
● The World Health Assembly (WHA) recognized January 30 as the World Neglected Tropical
Diseases (NTD) Day on 31st May 2021 through decision WHA74(18).
● After the decision WHA74(18), the WHO has joined the Neglected Tropical Diseases (NTD)
community.
Martyrs Day: 30th January
● Martyrs Day 2025 is observed on the 30th of January 2025.
● Gandhi promoted nonviolent protests throughout India’s struggle for independence and
encouraged everyone to set an example.
● With the British, he negotiated several peace deals before issuing the ultimatum to leave. Gandhi
undertook the nearly impossible task of creating a nation out of numerous provinces and territories
as the Indian constitution was being ratified.

BANKING AND FINANCE

Reserve Bank of India Governor projects improved economic outlook for 2025
● Despite facing global uncertainties, the Reserve Bank of India (RBI) Governor Sanjay Malhotra is
optimistic about India's economic prospects, citing high consumer and business confidence in
2025 and expecting an improvement in the second half of the financial year.
● Focus on Financial Stability: Malhotra emphasized that the RBI's focus remains on preserving
financial stability, supporting higher economic growth, and ensuring systemic stability in financial
institutions.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra

Reserve Bank Innovation Hub Teams Up with Digital Lender Vivifi Finance to Launch Pilot for Unsecured

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 Important Monthly Current Affairs Capsule – January 2025

Loans to Gig Workers

● The Reserve Bank Innovation Hub (RBIH) has partnered with Vivifi Finance to launch a pilot
project aimed at providing unsecured loans to gig workers.
● The pilot aims to develop a digital platform for providing loans to cab-hailing app drivers, such as
those working with Ola and Uber, food delivery drivers employed by Swiggy and Zomato, and
other gig workers.
● Unified Lending Interface (ULI) is a digital public infrastructure designed to provide lenders with
access to critical financial, non-financial, and alternative data for informed credit decisions.

India's current account deficit slightly decreases to 1.2% of GDP in Q2FY25

● India's Current Account Deficit (CAD) marginally reduced to 1.2% of GDP in Q2 FY25, compared
to 1.3% in the same quarter of the previous year.
● Absolute CAD Figures: The CAD in absolute terms stood at $11.2 billion in Q2 FY25, slightly
down from $11.3 billion in Q2 FY24.
● Foreign Direct Investment (FDI): Net FDI recorded an outflow of $2.2 billion in Q2 FY25, higher
than the $0.8 billion outflow during the same period last year.

Reserve Bank of India Introduces Guidelines for Reporting Gold Derivative Transactions to Clearing
Corporation of India Limited Trade Repository
● The Reserve Bank of India (RBI) mandates that Authorized Dealer Category-I Banks report gold
derivative transactions to the Clearing Corporation of India Limited. (CCIL) trade repository.
● Effective Date: The reporting requirement will start from February 1, 2025 for all over-the-counter
(OTC) transactions in gold derivatives conducted by banks and eligible customers.
● Legal Framework: These guidelines are issued under the powers vested in the RBI under
Section 45W of the RBI Act, 1934, Foreign Exchange Management Act, 1999, and Banking
Regulation Act, 1949.
Finance Minister Nirmala Sitharaman highlights banks' role in boosting rural growth through collateral-
free loan support
● Finance and Corporate Affairs Minister Nirmala Sitharaman highlighted the crucial role of public
sector banks (PSBs) in driving rural empowerment by providing collateral-free loans to small
businesses and artisans through various Central Government schemes.
● Rural development has been a top priority for the Modi-led government since 2014.

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 Important Monthly Current Affairs Capsule – January 2025

● Key focus areas include uplifting the poor, youth, farmers, and women through financial support
from PSBs.

Punjab & Sind Bank to Launch Instant MSME Loan Scheme Linked to GST Returns
● Punjab & Sind Bank plans to launch an instant loan scheme for Micro, Small, and Medium
Enterprises (MSMEs), with loans up to ₹25 lakh.
● The scheme will be rolled out this month as part of the bank's initiative to digitally push credit.
● The bank has already introduced digital home loan and vehicle loan schemes, where in-principle
approval is granted within 15 minutes.
● These schemes operate on a Straight Through Process (STP), running on a pre-defined
Business Rule Engine (BRE), which automates the loan processing and sanctioning stages.
About Punjab & Sind Bank :
● Founded : 24 June 1908
● Headquarters : New Delhi, India
● MD & CEO : Swarup Kumar Saha

World Bank Approves $20 Billion Development Funding Package for Pakistan
● The World Bank is set to approve a $20 billion indicative lending package for Pakistan under a
10-year initiative called the Pakistan Country Partnership Framework 2025-35.
● This funding package aims to safeguard funded projects from political transitions and focus on
six key areas to improve social indicators in Pakistan.
About World Bank :
● Founded : July 7, 1944
● Headquarters : Washington, D.C., United States
● President : Ajay Banga
About Pakistan :
● President : Asif Ali Zardari
● Prime Minister : Shehbaz Sharif
● Capital : Islamabad
● Currency : Pakistani rupee
Finance Ministry Urges Banks and Insurance Firms to Speed Up Resolution of Public Grievances

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 Important Monthly Current Affairs Capsule – January 2025

● The Finance Ministry urged public sector banks (PSBs) and insurance firms to speed up the
resolution of public grievances.
● The meeting was chaired by Financial Services Secretary M Nagaraju and included
complainants, PSBs, public sector insurance companies (PSICs), and regulators.
● Assessment of Grievance Quality: 20 randomly selected grievances were reviewed to assess the
quality of their resolution.
About Ministry of Finance :
● Cabinet Minister : Nirmala Sitharaman
● Minister of State : Pankaj Choudhary

IDBI Bank to Raise ₹10,000 Crore via Long-Term Bonds

● IDBI Bank has approved the issuance of Long-Term Bonds to finance Infrastructure and
Affordable Housing projects, raising up to ₹10,000 crore.
● The bond issuance will occur in tranches, with ₹5,000 crore expected to be raised by March 31,
2025, and the balance during FY 2025-26.
● Purpose of Bonds: The funds raised through these bonds will be used for financing infrastructure
and affordable housing projects.
About IDBI Bank :
● Founded : 1 July 1964
● Headquarters : Mumbai, Maharashtra
● MD & CEO : Rakesh Sharma
● The IDBI Bank Limited is a Scheduled Commercial Bank under the ownership of Life Insurance
Corporation of India (LIC) and Government of India.
● It was established by the Government of India as a wholly owned subsidiary of the Reserve Bank
of India in 1964 as Industrial Development Bank of India, a Development Finance Institution,
which provided financial services to the industrial sector.
Banking System Faces Liquidity Deficit in December, RBI Caps Call Rate
● The banking system slipped into a liquidity deficit in December 2024, marking the first such
occurrence since June 2024.
● This was despite the infusion of ₹1.16 lakh crore through the easing of the Cash Reserve Ratio
(CRR).

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 Important Monthly Current Affairs Capsule – January 2025

● CRR Easing: The Reserve Bank of India (RBI) reduced the Cash Reserve Ratio (CRR) from
4.5% to 4% in two tranches (December 14 and December 28, 2024).

MicroFinance Institutions Network Grants Three-Month Extension for Compliance with Maximum Three-
Lenders per Borrower Rule
● Microfinance Institutions Network (MFIN) extended the deadline for compliance with the
"maximum three-lenders per borrower" rule by three months, now applying until the end of March
2025.
● Background of Rule: The rule aims to address the microfinance sector’s asset quality stress by
limiting borrowers to loans from a maximum of three lenders, reducing excessive indebtedness.
About MFIN :
● Founded : 2009
● Location :Gurgaon, Haryana, India
● Chairperson : Manoj Kumar Nambiar
● CEO : Alok Misra

Reserve Bank of India Imposes Stricter Liquidity Requirements on Deposit-Taking Housing Finance
Companies
● The Reserve Bank of India (RBI) has implemented revised norms requiring deposit-taking
housing finance companies (HFCs) to maintain higher levels of liquid assets against their
deposits.
● Effective January 1, 2025, these companies must hold liquid assets equivalent to 14% of their
outstanding deposits.
● This includes 8% in unencumbered approved securities, calculated as a percentage of public
deposits.

Reserve Bank of India mandates full emergency withdrawals for NBFC deposits and revises housing
finance regulations
● Starting January 1, 2025, non-banking financial companies (NBFCs) are required to return the
full deposit amount to depositors within three months in case of an emergency withdrawal,
though such withdrawals will not accrue any interest.

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 Important Monthly Current Affairs Capsule – January 2025

● Critical Illness: If a depositor faces critical illness, as defined by the Insurance Regulatory and
Development Authority of India (IRDAI), they can withdraw 100% of their deposit within three
months without interest.

Reserve Bank of India permits National Bank for Financing Infrastructure and Development to operate as
an All-India Financial Institution in financial markets
● On January 1, 2025, the Reserve Bank of India (RBI) issued a circular allowing the National Bank
for Financing Infrastructure and Development (NaBFID) to participate as an All-India Financial
Institution (AIFI) in financial markets.
● The decision aligns with the RBI's earlier notifications and master directions governing AIFIs
under the RBI Act, 1934.
About NaBFID :
● Established : 2021
● Headquarters : Mumbai, Maharashtra
● Chairman : KV Kamath

Federal Bank introduces FedOne, a digital platform for corporate banking

● Federal Bank, one of India’s largest private sector banks, launched FedOne, a new digital
transaction banking platform.
● The platform is powered by Nucleus Software’s FinnAxia solution.
● Implementation Timeline: The platform was implemented after a 10-month collaboration between
Federal Bank and Nucleus Software.
About Federal Bank :
● Headquarters : Aluva, Kochi, Kerala, India
● MD & CEO : KVS Manian
● Tagline : Your Perfect Banking Partner

State Bank of India introduces TAB-based digital onboarding for NRI account opening
● State Bank of India (SBI) has launched a TAB-based digital onboarding process for Non-
Resident Indians (NRIs) to facilitate the opening of NRE (Non-Resident External) and NRO (Non-
Resident Ordinary) accounts.

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 Important Monthly Current Affairs Capsule – January 2025

● Purpose and Availability: The initiative aims to streamline the account opening process, offering it
across SBI branches in India and select foreign offices.
● Paperless and Efficient: The process eliminates the need for physical paperwork, utilizing digital
tools to verify documents and speed up the account opening.
About SBI :
● Founded : 1 July 1955
● Headquarters : Mumbai, Maharashtra, India
● Chairman : Challa Sreenivasulu Setty

Indian Bank Aims for 3.4% net interest margin in FY25

● Indian Bank aims to maintain a 3.4% net interest margin (NIM) in FY25, with a possible variation
of ±10-15 basis points.
● Factors Supporting NIM Maintenance:Loans linked to external benchmarks will reprice
immediately when interest rates decline, helping to manage interest income.

External Debt Increases to $711.8 Billion as of September, Up 4.3% from June: Finance Ministry
● India's external debt reached $711.8 billion in September 2024, a rise of 4.3% compared to June
2024. This represents an increase of $29.6 billion over the June-end 2024 level.
● In September 2023, external debt was $637.1 billion, showing a significant year-on-year increase
in 2024.
● The ratio stood at 19.4% in September 2024, up from 18.8% in June 2024.

UPI Transactions Hit Record High of 16.73 Billion in December with a Value of ₹23.25 Trillion
● According to the latest data by National Payments Corporation of India (NPCI), In December
2024, Unified Payment Interface (UPI) transactions reached an all-time high of 16.73 billion,
surpassing the previous record of 16.58 billion in October 2024.
● Month-on-Month Increase: UPI transactions increased month-on-month, rising from 15.48 billion
in November to 16.73 billion in December 2024.

Reserve Bank of India Issues Guidelines for Lenders on Participation in Government Debt Relief
Schemes

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 Important Monthly Current Affairs Capsule – January 2025

● The Reserve Bank of India (RBI) has issued guidelines for lenders participating in Government
Debt Relief Schemes (DRS), focusing on the sacrifice of interest, principal, and loan account
status.
● DRS are typically announced by states to provide financial relief to borrowers, especially during
natural calamities, or as political promises during elections.
● These schemes target specific segments of borrowers, such as farmers.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra

ICICI Prudential Life and RGA unveil insurance product addressing women's specific health conditions
● ICICI Prudential Life Insurance has partnered with Reinsurance Group of America (RGA) to
launch a unique health insurance product.
● The product specifically caters to women’s health, covering critical illnesses and surgeries.
● Critical Illness Coverage:The product provides an instant payout of up to 100% of the health
cover amount upon the diagnosis of critical illnesses.
About ICICI Prudential Life Insurance :
● Founded : 2000
● Headquarters : Mumbai, Maharashtra
● MD & CEO : Anup Bagchi
● It was established as a joint venture between ICICI Bank Limited and Prudential Corporation
Holdings Limited
State Bank of India introduces two new deposit schemes: "Har Ghar Lakhpati" and "Patrons" for senior
citizens aged 80 and above
State Bank of India (SBI) has launched two new deposit schemes “Har Ghar Lakhpati" and "Patrons” .
● Har Ghar Lakhpati Scheme:
● Type: Pre-calculated Recurring Deposit.
● Objective: Accumulate a sum of ₹1 lakh or its multiple.
● Target: Simplifies achieving financial goals by helping customers plan and save effectively.
About SBI :
● Founded : 1 July 1955

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 Important Monthly Current Affairs Capsule – January 2025

● Headquarters : Mumbai, Maharashtra, India

● Chairman : Challa Sreenivasulu Setty

Reserve Bank of India Removes Lending Restrictions on Microfinance Lender Arohan Effective
Immediately
● The Reserve Bank of India (RBI) lifted lending restrictions on Arohan Financial Services as of
October 21, 2024.
● This allows Arohan to resume disbursal of loans.
● Reason for Restrictions:The RBI had imposed restrictions on Arohan Financial Services, and
other NBFCs, including Asirvad Micro Finance, DMI Finance, and Navi Finserv, due to material
supervisory concerns.

Department of Financial Services Secretary Shri M. Nagaraju unveils upgraded 'BAANKNET' e-auction
portal as a comprehensive platform for property auctions
● Shri M. Nagaraju, Secretary, Department of Financial Services, Ministry of Finance, launched
revamped e-auction portal ‘Baanknet’ in New Delhi.
● This platform consolidates information on e-auction properties from all Public Sector Banks and
offers a one-stop destination for buyers and investors to discover a wide range of assets.

Securities and Exchange Board of India introduces free tools on its website and Saarthi App to enhance
investor awareness
● Capital markets regulator Securities and Exchange Board of India (SEBI) has launched free tools
and resources on its investor website and Saarthi App to promote investor education.
● Objective: The initiative aims to empower both prospective and existing investors to make
informed investment decisions.
● Investor Website Resources:A curated collection of videos from stock exchanges, depositories,
and institutions like AMFI (Association of Mutual Funds in India) and NCFE (National Centre for
Financial Education).
About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra

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 Important Monthly Current Affairs Capsule – January 2025

● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)

● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

Bharat Connect set to launch by March, marking a UPI milestone for B2B payments
● The National Payments Corporation of India (NPCI) is expected to roll out its Bharat BillPay for
Business offering by March 2025.
● Bharat Connect, formerly known as Bharat BillPay, will allow businesses to manage B2B
payments, operating on a model similar to NPCI’s partnerships with third-party application
providers (TPAPs).
● The platform’s setup for businesses will resemble the model NPCI uses with TPAPs, which
typically cater to peer-to-peer (P2P) and peer-to-merchant (P2M) transactions.
About NPCI :
● Founded : 2008
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Dilip Asbe
● The NPCI is an umbrella organization for operating retail payments and settlement systems in
India.
● It is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the
provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment &
Settlement Infrastructure in India.

Enlighten Angel Fund Gets Securities and Exchange Board of India Approval to Function as an Alternate
Investment Fund
● Enlighten Angel Fund has received Securities and Exchange Board of India (SEBI) approval to
operate as an Alternate Investment Fund (AIF).
● The fund has launched its first fund with a corpus of ₹200 crore, including a ₹100 crore
greenshoe option.
● Greenshoe Option: Allows underwriters to buy up to 15% more shares than the original offering
amount at the IPO price.
Reserve Bank of India Increases Gold Reserves by 8 Tonnes in November 2024

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 Important Monthly Current Affairs Capsule – January 2025

● According to the World Gold Council (WGC), In November 2024, central banks globally added a
total of 53 tonnes of gold to their reserves.
● The Reserve Bank of India (RBI) contributed 8 tonnes of this total.
● RBI’s Gold Holdings:With the additional 8 tonnes in November, the RBI’s total gold holdings
increased to 876 tonnes.
● RBI's year-to-date gold purchases for 2024 stand at 73 tonnes, making it the second-largest
buyer of gold for the year, after Poland.
About WGC :
● Formation : 1987
● Headquarters : London, United Kingdom
● President : Kelvin Dushnisky
● CEO : David Tait

Reserve Bank of India Issues Master Direction on Reporting Customer Credit Information
● The Reserve Bank of India (RBI) issued a Master Direction to consolidate various instructions for
banks and financial institutions regarding the reporting of credit information of their customers.
● The aim is to establish a standardised framework for reporting and dissemination of credit
information and to ensure the confidentiality and security of sensitive credit data.
● Purpose of the Master Direction:The master direction aims to ensure the accuracy, security, and
confidentiality of customer credit information.
About RBI :
● Founded : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra

National Payments Corporation of India Enables Seamless Mobility for 3.2 Million Chennai MTC
Commuters via RuPay
● The National Payments Corporation of India (NPCI) has partnered with Metropolitan Transport
Corporation (MTC) in Chennai to integrate RuPay on-the-go, a contactless payment solution for
public transit.
● Beneficiaries:Over 3.2 million daily commuters using Chennai MTC will benefit from this efficient
and seamless transit system.

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 Important Monthly Current Affairs Capsule – January 2025

About NPCI :
● Founded : 2008
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Dilip Asbe
● The NPCI is an umbrella organization for operating retail payments and settlement systems in
India.
● It is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the
provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment &
Settlement Infrastructure in India.

Sumitomo Mitsui Financial Group Invests ₹3,000 Crore in SMFG India Credit
● Sumitomo Mitsui Financial Group (SMFG) infused ₹3,000 crore into SMFG India Credit Company
via a rights issue.
● This infusion strengthens SMFG's commitment to the Indian market.
About SMFG :
● Founded : December 2, 2002
● Headquarters : Tokyo, Japan
● Chairman : Takeshi Kunibe
● CEO : Toru Nakashima

SBI Life Spell Bee Season 14 concludes with an exciting Grand Finale in Kolkata, in collaboration with
Mirchi, India's premier spelling competition
● SBI Life Spell Bee Season in association with Mirchi, India's most prestigious spelling
competition, concluded its 14th season with a thrilling Grand Finale in Kolkata.
● The competition crowned Chaya M.V. from Presidency School, Bangalore its national champion.
About SBI Life Insurance:
● Founded : March 2001
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Mr. Amit Jhigran
● It is a joint venture between State Bank of India (SBI) and French financial institution BNP
Paribas Cardif.

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 Important Monthly Current Affairs Capsule – January 2025

Ministry of Finance's New Tax Rule Enables Buyers to Bypass Tax Deduction on Purchases from IFSC
Sellers Starting January 1, 2025
● The Ministry of Finance's new tax rule, effective from January 1, 2025, allows buyers to avoid tax
deduction on purchases made from sellers operating within International Financial Services
Centres (IFSC).
About Ministry of Finance :
● Cabinet Minister : Nirmala Sitharaman
● Minister of State : Pankaj Choudhary

Securities and Exchange Board of India imposes ₹9 lakh penalty on Stockholding Services
● The Securities and Exchange Board of India (SEBI) has imposed a ₹9 lakh penalty on
Stockholding Services for violating regulatory norms.
● The violations were identified during Sebi's thematic inspection conducted between April 2022
and June 2023.
● Bank Account Mismatch: There was a mismatch in bank account details.
● Margin Requirement Issues: Inadequate systems were found to ensure margin requirements
were proportional to the client's declared income proof.
About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

Reserve Bank of India Issues Draft Formats for Financial Statements of Co-operative Banks
● The Reserve Bank of India (RBI) stated that in terms of Section 29, read with Section 56 of the
Banking Regulation Act, 1949, co-operative banks are required to prepare a balance sheet and
profit and loss account as on the last working day of the year in the Forms set out in the Third
Schedule of the Banking Regulation Act, 1949.
About RBI :
● Established : 1 April 1935

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 Important Monthly Current Affairs Capsule – January 2025

● Headquarters : Mumbai, Maharashtra, India

● Governor : Sanjay Malhotra

High Demand for Funds from Banks in First VRR Auction of 2025 Due to Liquidity Deficit
● The banking system is facing liquidity tightness despite the Reserve Bank of India (RBI) reducing
the Cash Reserve Ratio (CRR) in two equal tranches of 25 basis points each last month.
● In the first Variable Rate Repo (VRR) auction of 2025, banks placed bids aggregating ₹92,670
crore for funds, against the notified ₹50,000 crore.
● The RBI accepted ₹50,007 crore at a weighted average rate (WAR) of 6.57%.
International Financial Services Centre Authority to Release New Regulations on KYC Registration
Agency: Chairman Rajaraman
● The International Financial Services Centre Authority (IFSCA) will soon issue regulations for KYC
Registration Agencies (KRAs) in the International Financial Services Centre (IFSC).
● Consultation Paper: In December 2024, IFSCA published a consultation paper seeking public
comments on the Draft IFSCA Regulations, 2024 (IFSC KRA Regulations), which lay out a
framework for KRAs in the IFSC.
● The applicant must have a minimum net worth of $1 million (compared to SEBI's ₹25 crore
requirement).
About IFSCA :
● Formed : April 27, 2020
● Headquarters : GIFT City, Gujarat
● Chairman : K. Rajaraman

Securities and Exchange Board of India Launches Mutual Funds Lite Framework to Promote Passive
Fund Schemes
● Capital markets regulator Securities and Exchange Board of India (SEBI) announced the
introduction of the Mutual Funds Lite (MF Lite) framework to ease the compliance process for
companies launching passively managed mutual fund schemes.
● The framework is designed to encourage new flows, encourage innovation and promote
investment diversification in the mutual fund sector.

Reserve Bank of India Removes Restrictions on Asirvad Microfinance and DMI Finance

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 Important Monthly Current Affairs Capsule – January 2025

● The Reserve Bank of India (RBI) has lifted the restrictions on Chennai-based Asirvad Micro
Finance and Delhi-based DMI Finance, effective immediately.
● Reason for Lifting Restrictions: The RBI was satisfied with the companies' actions to comply with
regulatory guidelines, including revamped processes and systems, and their commitment to
ensure adherence to regulations, particularly regarding fairness in loan pricing
● Initial Sanctions: The RBI had imposed sanctions on four non-banking financial companies
(NBFCs) in October 2024, which included Asirvad Microfinance, Arohan Financial Services, DMI
Finance, and Navi Finserv (owned by Flipkart co-founder Sachin Bansal), for charging excessive
interest rates.
● .

Securities and Exchange Board of India amends credit rating agency regulations to improve ease of doing
business
● The Securities and Exchange Board of India (SEBI) has updated the timelines for credit rating
agencies (CRAs), shifting from "days" to "working days" to improve ease of doing business and
standardize processes.
● Changes in Rating Action Press Release: CRAs are now required to publish press releases on
rating actions within seven working days instead of the previous seven calendar days.
About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

Bajaj Broking partners with Tamilnad Mercantile Bank for unified banking services
● Bajaj Broking, a subsidiary of Bajaj Finance Limited., has partnered with Tamilnad Mercantile
Bank (TMB) to offer a 3-in-1 account solution.
● The 3-in-1 account combines banking, broking, and investment services, enabling seamless
access to all three functions for customers.

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 Important Monthly Current Affairs Capsule – January 2025

● Customers of TMB will now be able to trade online through Bajaj Broking and utilize its diverse
range of products and services.

About Tamilnad Mercantile Bank :

● Founded : 11 May 1921
● Headquarters : Thoothukudi, Tamil Nadu, India
● MD & CEO : Salee Sukumaran Nair

Income Tax Department Establishes 24x7 Control Room with Toll-Free Number to Monitor Unaccounted
Cash, Bullion, and Valuables for Clean Delhi Assembly Elections 2025
● The Income Tax Department has set up a 24x7 Control Room to monitor the movement of
unaccounted cash, bullion, and other valuables during the Delhi Legislative Assembly Elections,
2025.
● Objective: The initiative aims to assist the Election Commission of India in curbing the role of
black money in the election process, ensuring clean and fair elections.
About Ministry of Finance :
● Cabinet Minister : Nirmala Sitharaman
● Minister of State : Pankaj Choudhary

Department of Financial Services Secretary M Nagaraju leads discussion with Micro Finance Institutions
● Shri M. Nagaraju, Secretary, Department of Financial Services (DFS), Ministry of Finance,
chaired a meeting with major Micro Finance Institutions (MFIs) in New Delhi.
● Senior officials of DFS and industry bodies like MFIN and Sa-Dhan also attended.
● Objective:The meeting aimed to foster an open exchange of ideas to enhance the MFI sector,
focusing on reaching low-income households in villages and providing hassle-free financial
assistance.

National Statistics Office 's First Advance Estimates Show Real GDP Growth Slows to 6.4% in FY25 from
8.2% in FY24
● According to the first advance estimates released by the National Statistics Office (NSO), Real
gross domestic product (GDP) growth is estimated to have slowed sharply to 6.4% in the current
financial year (FY25) from 8.2% expansion in FY24.

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 Important Monthly Current Affairs Capsule – January 2025

● Despite the slowdown in GDP growth, the fiscal deficit for FY25 is expected to stay within target
due to a lower-than-budgeted nominal GDP growth of 9.7%.

Exim Bank of India Raises $1 Billion via 10-Year USD Bond with Record-Low Spread for BBB-Rated
Asian Issuers
● Exim Bank of India raised $1 billion via a 10-year USD-denominated bond, marking a significant
milestone in its international fundraising efforts.
● The bond achieved the lowest-ever spread of 100 basis points over 10-year US treasuries for a
BBB-rated issuer in Asia.
● Pricing of the Bond: The bond was priced at 5.63%, showcasing favorable investor confidence.
About Exim Bank :
● Established : 1982
● Headquarters : Mumbai, Maharashtra
● Chairman & MD : Harsha Bangari
● It is a specialized financial institution that supports India's international trade and investments.

JPMorgan Chase, Largest U.S. Bank, Exits the Net-Zero Banking Alliance
● JPMorgan Chase, the largest U.S. bank by assets, has left the Net-Zero Banking Alliance
(NZBA), the latest major bank to exit the climate-finance alliance.
● Recent Exits from NZBA:December 2024: Citigroup, Bank of America, Goldman Sachs, and
Wells Fargo also departed from the NZBA.
About JPMorgan Chase :
● Founded : December 1, 2000
● Headquarters : New York City, United States
● Chairman & CEO : Jamie Dimon

Reserve Bank of India directs lenders to update credit bureau records every 15 days starting January 1,
2025
● The Reserve Bank of India (RBI) has mandated that all lenders must update credit bureau
records every 15 days, effective January 1, 2025.

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 Important Monthly Current Affairs Capsule – January 2025

● Objective of the Regulation:The new rule aims to provide more accurate and timely
representation of borrowers' financial activities, improving the calculation and publication of credit
scores.
● Transition Period:The mandate was issued in August 2024, with a transition period allowing
lenders and credit bureaus to upgrade their systems by January 1, 2025.

Punjab National Bank Launches First Cybersecurity Hackathon 2024-25 with "Code Against Malware"
Theme
● Punjab National Bank (PNB) has launched its first Cybersecurity Hackathon 2024-25, with the
theme “Code Against Malware”.
● The hackathon aims to address the rising threat of malware and enhance the nation’s
cybersecurity defences.Participation Details:Open to students, researchers, and academicians
from academic institutions, research organizations, and the tech community.
● Participants can enter individually or in teams.
About PNB :
● Founded : 19 May 1894
● Headquarters : Delhi, India
● MD & CEO : Atul Kumar Goel

Microfinance Sector Contracts 4% in Q2 as Defaults Double Year-on-Year

● The microfinance portfolio stood at ₹4.1 lakh crore as of September 2024.This showed:
● A quarter-on-quarter decline of 4.3% compared to June 2024.
● A year-on-year growth of 7.6%.
● Delinquency Rates: Delinquency rates on microfinance loans (instalments overdue by 30 to 180
days) increased to 4.3% in September 2024, up from 2% in the previous year.

₹22,000 Crore Remains Unclaimed with Life Insurance Companies

● At the start of FY24, unclaimed amounts with life insurers stood at nearly ₹22,237 crore.
● A six-month drive (June-November 2023) helped reduce these unclaimed amounts by over
₹1,018 crore, according to IRDAI.

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 Important Monthly Current Affairs Capsule – January 2025

● Estate Planning and Nominee Issues:Estate planning is emphasized for policyholders who
bequeath benefits to non-relatives, as insurers are cautious about registering non-immediate
family members as nominees.

Indian Overseas Bank to Sell Rs 11,500 Crore Non-Performing Assets to Enhance Asset Quality
● Indian Overseas Bank (IOB) is selling Rs 11,500 crore worth of non-performing assets (NPAs) to
asset reconstruction companies (ARCs).
● The sale involves 46 loan accounts and is part of the bank's effort to enhance its asset quality
● Sale Process and Auction Details:The NPA sale will be conducted via an e-auction under the
open auction method on a portfolio basis.
About IOB :
● Founded : 10 February 1937
● Headquarters : Chennai, Tamil Nadu, India
● MD & CEO : Ajay Kumar Srivastava

Securities and Exchange Board of India Chairperson Madhabi Puri Buch Predicts 21% Increase in Capital
Market Fundraising to ₹14.7 Lakh Crore in FY2025
● As per Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch, total
capital market fundraising in FY2025 is expected to rise by 21% to ₹14.7 lakh crore from ₹11.8
lakh crore in FY2024.
● Capital Market Fundraising Projections for FY2025:SEBI projects total capital mobilization for
FY2025 to exceed ₹14 lakh crore, with an additional ₹1 lakh crore expected to be raised through
equity in the January-March (Q4) quarter.
● By the end of FY2025, equity fundraising is expected to total ₹4.3 lakh crore.
About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

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 Important Monthly Current Affairs Capsule – January 2025

Reserve Bank of India's Variable Rate Repo Auctions Receive Strong Response as Liquidity Deficit
Worsens
● As of January 9, 2025, the banking system is facing a liquidity deficit of approximately ₹2 lakh
crore.
● The deficit is primarily due to the RBI's intervention in the foreign exchange market to prevent
further depreciation of the rupee and slow government spending.
● Impact on Call Money Rates:The liquidity deficit has pushed call money rates above the repo rate
of 6.5%.
● The weighted average rate (WAR) in the call money market rose to 6.88% on January 9, up from
6.83% on the previous day.

Securities and Exchange Board of India suggests increasing foreign portfolio investors disclosure
threshold to Rs 50,000 crore
● The Securities and Exchange Board of India (SEBI) has proposed raising the investment
threshold for granular disclosures by foreign portfolio investors (FPIs).
● The current threshold of Rs 25,000 crore will be increased to Rs 50,000 crore for FPIs to provide
detailed disclosures of their holdings.
● Existing Disclosure Framework:Under the existing framework (introduced in August 2023), FPIs
with more than 50% of their Indian equity assets under management (AUM) in a single corporate
group or with total equity AUM exceeding Rs 25,000 crore are required to provide granular
disclosures of their holdings.

Liquidity Management May Be Prioritized Over Rate Cuts in February Monetary Policy Committee
● Foreign banks and wealth managers are divided on whether the RBI will start easing its monetary
policy in February.
● Some have pushed back their expectations for a repo rate cut to the April-June 2025 period,
citing tight liquidity conditions
● Expectations for CRR Cut: Economists from Standard Chartered Bank anticipate that the RBI
may prioritize liquidity management over reducing the repo rate.

Reserve Bank of India reveals results of the third edition of its Global Hackathon – HaRBInger 2024

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 Important Monthly Current Affairs Capsule – January 2025

● The Reserve Bank of India (RBI) announced the names of the winners of the third edition of its
Global Hackathon with the themes 'Zero Financial Frauds' and 'Being Divyang.
● Participation and Response:The hackathon received 534 proposals in total.
● 39 proposals were submitted by teams from outside India, including countries like the United
States, United Kingdom, Hong Kong, Singapore, Brazil, Morocco, and others.
About RBI :
● Founded : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra

State Bank of India Chief C S Setty Advocates for Unified System to Monitor SME Fund Utilization
● State Bank of India (SBI) chairman C S Setty has suggested creating a common mechanism to
track the utilization of funds raised by Small and Medium Enterprises (SMEs) through debt and
equity.
● This mechanism aims to provide comfort to lenders and investors and enhance the
competitiveness of pricing.
● The system would ensure that funds are used for the intended purposes, minimizing risks related
to misallocation.
About SBI :
● Founded : 1 July 1955
● Headquarters : Mumbai, Maharashtra, India
● Chairman : Challa Sreenivasulu Setty

KredX obtains Reserve Bank of India approval to launch Trade Receivables Discounting System platform
for supply chain financing
● KredX, a supply chain finance platform, has announced that it has received final approval from
the Reserve Bank of India (RBI) to commercially launch its Trade Receivables Discounting
System (TReDS) platform under the brand name DTX (Domestic Trade Exchange).
● With this, KredX becomes the fifth RBI-regulated TReDS platform in India, marking a significant
milestone in its journey to revolutionise supply chain financing.
About TReDS Platform :

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 Important Monthly Current Affairs Capsule – January 2025

● TReDS (Trade Receivables Discounting System) is an online platform that allows micro, small,
and medium enterprises (MSMEs) to discount their invoices.
● It was launched in 2018 by the Reserve Bank of India (RBI).
● There are currently four operational TReDS platforms in India, including:

PhonePe Introduces Exclusive Insurance for Maha Kumbh Mela Visitors

● PhonePe has introduced a unique insurance coverage specifically for travelers attending the
Maha Kumbh Mela, which will take place in Prayagraj, Uttar Pradesh from January 13 to
February 26, 2025.
● Coverage Details: The insurance plan is offered in two variants:
● Rs. 59 per traveler for individuals traveling by train or bus.
● Rs. 99 per traveler for those traveling by domestic flights.
About PhonePe :
● Founded : 2015
● Headquarters : Bengaluru, Karnataka, India
● CEO : Sameer Nigam

Equitas Small Finance Bank raises savings account interest rates to a maximum of 7.8%
● Equitas Small Finance Bank has revised interest rates for savings accounts, effective from
January 10, 2025.
● New Slabs for Savings Account:
● Up to ₹1 lakh: Interest rate is 3.00%.
● ₹1 lakh to ₹10 lakh: Interest rate is 5.00%.
● ₹10 lakh to ₹25 lakh: New interest rate of 7.00%.
● ₹25 lakh to ₹1 crore: New interest rate of 7.25%.
About Equitas Small Finance Bank :
● Founded : 2007
● Headquarters : Chennai, Tamil Nadu
● MD & CEO : Vasudevan P N

RBI Innovation Hub and IIMA Ventures launch Swanari TechSprint 3.0 to promote women-focused fintech
startups in India

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 Important Monthly Current Affairs Capsule – January 2025

● The Reserve Bank Innovation Hub and IIMA Ventures launched Swanari TechSprint 3.0, a
programme aimed at fostering women-centric fintech startups in India.
● Programme Objective: The program aims to foster innovation in fintech by encouraging the
development of solutions addressing the unique financial needs of women.
● Theme: "Women-centric Financial Solutions," with the overarching goal of enabling "Frictionless
Finance for Every Woman in India."
Reserve Bank of India Issues Master Direction on Non-Resident Investment in Debt Instruments, 2025
● The Reserve Bank of India (RBI) issued the Master Direction on Non-resident Investment in Debt
Instruments, 2025, to regulate foreign investments in Indian debt instruments.
● Regulatory Framework: The regulations are based on the Foreign Exchange Management Act
(FEMA), 1999, and provide guidelines for investments by Foreign Portfolio Investors (FPIs), Non-
Resident Indians (NRIs), and Overseas Citizens of India (OCIs).

Budget 2025: 100% foreign direct investment Cap and Composite License Expected in Insurance
● The Insurance (Amendment) Bill aims to allow 100% foreign direct investment (FDI) in the
insurance sector, following the Insurance Act's amendment in 2021, which raised the FDI limit
from 49% to 74%.
● Objective of Amendments: The proposed amendments aim to improve accessibility, affordability,
and expansion in the insurance sector, increase capital inflows, and raise insurance penetration
levels in India.
● The Bill, which was initially scheduled for the Winter session, is now expected to be introduced
during the Budget session of Parliament.

Business Correspondents Request Relaxation of Remittance Rules, Highlight KYC Misuse

● Business correspondents (BCs) have requested the Reserve Bank of India (RBI) to relax
restrictions on monthly and daily transfer limits, citing operational challenges and misuse of
domestic remittance channels.
● Proposed Changes: BCs have asked the RBI to:
● Double the monthly transfer limit to ₹50,000.
● Reduce the two-factor authentication (2FA) requirement to once a month instead of every
transaction.

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 Important Monthly Current Affairs Capsule – January 2025

Reserve Bank of India Likely to Restrict Interventions to Maintain Rupee's Export Competitiveness
● The Reserve Bank of India (RBI) may change its approach to currency intervention, allowing the
rupee to depreciate in line with its emerging market peers to maintain export competitiveness and
avoid adverse impacts on domestic liquidity due to US dollar sales.
● Exporters are keeping their positions open, while importers are rushing to hedge their exposure,
signaling expectations of further rupee depreciation.

Reserve Bank of India's FAQs Make It Mandatory for Banks to Offer Fixed Interest Rate Products
● The Reserve Bank of India (RBI) now mandates that banks must offer a fixed interest rate
product in all equated installment-based personal loan categories.
● The circular applies to all equated installment-based personal loans, regardless of whether the
interest rate is linked to an external benchmark or an internal benchmark.
About RBI :
● Founded : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra

Bank of Baroda to Offer AI-Driven Support and Digital Payment Solutions for Maha Kumbh 2025
● Bank of Baroda (BoB) has announced setting up AI-driven customer support, full-fledged
branches with forex transaction facilities in Prayagraj to facilitate the visitors.
● As the convenor of the State Level Bankers' Committee (SLBC), Uttar Pradesh, BoB is
leveraging Maha Kumbh to promote digital payments, offer AI-driven customer support, and
provide robust banking infrastructure.
● BoB is establishing two full-fledged branches with forex transaction facilities.
About Bank of Baroda :
● Founded : 20 July 1908
● Headquarters : Vadodara, Gujarat, India
● MD & CEO : Debadatta Chand

Suryoday Small Finance Bank Collaborates with Tata Digital to Offer Fixed Deposit Services
● Suryoday Small Finance Bank (SSFB) announced its partnership with Tata Digital to extend its
FD offerings.

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 Important Monthly Current Affairs Capsule – January 2025

● This collaboration will enable SSFB to leverage Tata Neu’s reach, providing retail customers with
access to the deposit scheme.
● SSFB’s FD offering will be available on the Tata Neu platform, where customers can invest in
fixed deposits at interest rates of up to 9.1% without the need for a savings account.
About Suryoday Small Finance Bank :
● Incorporated in 2008, Suryoday Small Finance Bank Ltd is a leading Small Finance Bank(SFB) in
India.
● The company started offering SFB services in 2017.
● MD & CEO : Baskar Babu Ramachandran

Bank of Baroda Joins Forces with Truworth Wellness to Launch Enhanced Wellness Program for
Employees and Their Families
● Bank of Baroda (BoB) has partnered with Truworth Wellness to extend an enhanced wellness
program for its 75,000+ employees and their families.
● The Employee Assistance Program (EAP) is focused on improving emotional, mental, and
psychological well-being.
● It provides confidential counseling with experts to address issues like anxiety and stress.
India to reduce stakes in 5 public sector banks, including UCO
● India is considering reducing its ownership in 5 state-run banks, including UCO Bank, Central
Bank of India, Indian Overseas Bank, Bank of Maharashtra, and Punjab and Sind Bank, through
stake sales or allowing the banks to sell shares to large investors.
● Minimum Public Holding Norms: The goal is to bring down the government's stake in these banks
below 75% to meet regulatory norms.
● Methods of Stake Reduction:The Department of Investment and Public Asset Management
(DIPAM) may facilitate the stake sales.
● The alternative is for the banks to sell shares to large investors, which will help them meet the
required public holding norms.
Bank of Baroda secures Rs 5,000 crore via 10-year infrastructure bond at 7.23% interest rate
● Bank of Baroda (BoB) raised Rs 5,000 crore through a 10-year infrastructure bond at a coupon
rate of 7.23%.
● The infrastructure bond issued by BoB was rated AAA by CRISIL and India Ratings, indicating a
high credit rating.

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 Important Monthly Current Affairs Capsule – January 2025

● Issue Details:The base issue size was Rs 2,000 crore, with a green shoe option of Rs 3,000
crore, allowing for an additional issue of bonds.
● IREDA's Upcoming Bond Issue: The Indian Renewable Energy Development Agency (IREDA)
plans to raise Rs 1,500 crore through a 10-year bond issuance later in the week, with bonds
rated AAA by ICRA and India Ratings.
About BoB :
● Founded : 20 July 1908
● Headquarters : Vadodara, Gujarat, India
● MD & CEO : Debadatta Chand
Insurance Regulatory and Development Authority of India Expands Sandbox Framework to Foster
Innovation
● The Insurance Regulatory and Development Authority of India (IRDAI) has expanded the scope
of its regulatory sandbox framework to encourage innovation, improve efficiency, and ease of
doing business.
● Objective of Changes:These changes align with IRDAI's move towards a modern, dynamic, and
principle-based regulatory framework.
● The aim is to foster innovation, improve governance, ensure data security, and drive sustainable
growth while upholding policyholder protection.
● Other Amendments:IRDAI notified the IRDAI (Meetings)(Amendment) Regulations, 2025, IRDAI
(Insurance Advisory Committee) (Amendment) Regulations, 2025, and IRDAI (Re-Insurance
Advisory Committee) (Amendment) Regulations, 2025.
About IRDAI :
● Formation : 1999
● Location : Hyderabad, Telangana
● CHairman : Debasish Panda
Bank of India Plans Its First Dollar Loan of $400 Million in Over Ten Years
● Bank of India is raising its first dollar syndicated loan since 2012, with a target amount of $400
million.
● Loan Structure:The loan is split into two tranches:
○ A three-year tranche.
○ A five-year tranche.

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 Important Monthly Current Affairs Capsule – January 2025

● The loan is being raised through the Gujarat International Finance Tec-City (GIFT) branch of
Bank of India.
● State Bank of India (SBI) is also marketing a ¥30 billion ($191 million) syndicated loan and
planning to raise up to $1.25 billion, potentially becoming the largest dollar loan from the Indian
banking sector this year.
About Bank of India :
● Established : 7 September 1906
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Rajneesh Karnatak
● Tagline : Relationship beyond banking
3 Indian Banks Rank Among Top 25 Global Banks by Market Cap, with ICICI as a Standout Performer
● According to a report by GlobalData, a leading data analytics and research company, 3 Indian
banks -HDFC Bank, ICICI Bank, and State Bank of India (SBI) ranked in the top 25 global banks
by market capitalization for Q4 2024:
○ HDFC Bank: Ranked 13th with a market cap of $158.5 billion.
○ ICICI Bank: Ranked 19th with a market cap of $105.7 billion.
○ SBI: Ranked 24th with a market cap of $82.9 billion.
○ JPMorgan Chase continued to be the largest bank in the world by market cap, with a
market cap of $674.9 billion, marking a 37.2% increase by the end of Q4 2024.
Monthly Mutual Fund SIPs Surpass Rs 26,000 Crore for the First Time, Reaching Rs 26,459 Crore in Decem
● As per data provided by Association of Mutual Funds in India (AMFI), The monthly mutual fund
SIP (Systematic Investment Plan) crossed the Rs 26,000 crore mark for the first time in
December 2024, reaching Rs 26,459 crore, up from Rs 25,320 crore in November 2024.
● New SIP Registrations:The number of new SIPs registered in December 2024 was 54,27,201, an
increase from 49,46,408 in November 2024.
● SIP AUM (Assets Under Management):The SIP AUM stood at Rs 13.63 lakh crore in December
2024, compared to Rs 13.54 lakh crore in November 2024.
● SIP Accounts:The total number of SIP accounts reached an all-time high of 10,32,02,796 in
December 2024, up from 10,22,66,590 in November 2024.
● SIP Characteristics:SIP is a method where investors contribute a fixed amount of money at
regular intervals, typically monthly, to a mutual fund.

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 Important Monthly Current Affairs Capsule – January 2025

● SIP is a convenient investment method using standing instructions to debit the bank account
monthly.
● The minimum SIP instalment can be as low as ₹500 per month, similar to a recurring deposit
where a fixed amount is deposited regularly.
About AMFI :
● Formation : 22 August 1995
● Location : Mumbai, Maharashtra, India
● CEO : Chalasani Venkat Nageswar
Reserve Bank of India introduces measures to promote cross-border transactions in Indian rupee
● The Reserve Bank of India (RBI) announced liberalised norms on January 16, 2025 to encourage
the use of the Indian Rupee (INR) and other local/national currencies for settling cross-border
transactions.
● The announcement was made at a time when the Indian Rupee had recently touched an all-time
low of 86.70 per USD.
● The RBI has signed Memoranda of Understanding (MoUs) with the central banks of UAE,
Indonesia, and Maldives to promote cross-border transactions in local currencies, including INR.
● Special Rupee Vostro Account (SRVA):Introduced in July 2022, the Special Rupee Vostro
Account (SRVA) allows foreign banks to open accounts in India for trade transactions using INR.
● Several foreign banks have since opened SRVAs with Indian banks to facilitate such
transactions.
● The move follows a **review of the FEMA (Foreign Exchange Management Act) 1999 regulations
by the RBI, in consultation with the central government.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra
PNB MetLife teams up with Saraswat Co-operative Bank to provide insurance solutions
● PNB MetLife has entered into a bancassurance partnership with Saraswat Co-operative Bank,
one of India's largest urban co-operative banks.
● The partnership aims to provide a range of life insurance solutions, including savings, protection,
retirement, and group plans.

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 Important Monthly Current Affairs Capsule – January 2025

● Bancassurance Model:Bancassurance is a model where banks partner with insurance

companies to sell insurance products.
● The collaboration reinforces PNB MetLife's brand slogan, Milkar Life Aage Badhaein, meaning
"Together, Move Life Forward."
● Managing Director & CEO of Saraswat Co-operative Bank Limited : Arti Patil
About PNB MetLife India Insurance Company Limited (PNB MetLife) :
● Founded : 2001
● Headquarters : Mumbai, Maharashtra
● MD & CEO : Sameer Bansal
MobiKwik teams up with Piramal Capital & Housing Finance for personal loan offerings
● MobiKwik Systems has entered into a strategic partnership with Piramal Capital & Housing
Finance (Piramal Finance) to provide personal loans to MobiKwik customers.
● Objective of the Partnership:The partnership aims to enhance access to affordable credit
solutions, enabling MobiKwik users to apply for and receive personal loans seamlessly through
the MobiKwik platform.
● Loan Amount & Eligibility:The loan amount for ZIP EMI ranges from INR 50,000 to INR 2,00,000.
● Eligibility criteria include:
○ Income exceeding INR 25,000
○ Age range: 23 to 55 years.
● Loan Tenure:The minimum loan tenure is 6 months, with the maximum tenure going up to 24
months.
● Nationwide Availability:This credit offering is available to all MobiKwik app users across India.
About MobiKwik :
● Founded : April 2009
● Headquarters : Gurgaon, Haryana, India
● Founders : Bipin Preet Singh, Upasana Taku
About Piramal Capital and Housing Finance Limited :
● Founded : 11 April 1984
● Headquarters : Mumbai, Maharashtra
● Managing Director : Jairam Sridharan
Tata Sons' Request to Deregister as NBFC Under RBI Review, Remains on Upper-Layer List

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 Important Monthly Current Affairs Capsule – January 2025

● Tata Sons, the holding company of Tata Group, remains on the Reserve Bank of India's (RBI) list
of upper-layer non-banking finance companies (NBFC-UL), despite its ongoing application to
deregister itself from this category.
● Deregistration Proposal:Tata Sons seeks to deregister itself as a core investment category NBFC
because RBI mandates that upper-layer NBFCs must be listed on exchanges by September
2025.
● The Shapoorji Paloonji Group, which holds nearly 18.5% of Tata Sons, is reportedly in favor of
the company's listing.
● Regulatory Impact:Once an NBFC is classified under the upper-layer category, it is subject to
enhanced regulatory requirements for at least five years, even if it does not meet the parametric
criteria in subsequent years.
● Other Notable Upper-Layer NBFCs:15 NBFCs are named in the upper-layer list, including
prominent names such as:
○ LIC Housing Finance, Bajaj Finance, Shriram Finance, Cholamandalam Investment and
Finance, L&T Finance, M&M Finance, Aditya Birla Finance, Tata Capital, Piramal Capital,
PNB Housing Finance, HDB Financial Services, Sammaan Capital, Muthoot Finance,
Bajaj Housing Finance.
● Piramal Enterprises Exclusion:Although Piramal Enterprises qualifies for identification as an
upper-layer NBFC, it is not included in the current review due to ongoing reorganization within
the company.
About Tata Sons :
● Founded : 1917
● Headquarters : Mumbai, Maharashtra, India
● Chairman & Managing Director : Natarajan Chandrasekaran
Punjab & Sind Bank to Introduce Cash-Flow-Based Digital MSME Loans by Month-End
● Punjab & Sind Bank (PSB) plans to launch a cash-flow-based digital MSME loan product of up to
₹25 lakh by the end of January 2025.
● Objective: The initiative is expected to change the perception of PSB as a "digital-friendly bank,"
enabling easier and faster loan sanctioning for MSMEs based on cash flow rather than traditional
methods.
● PSB had previously rolled out digital e-car and e-home loan products, using QR codes and
missed calls for easy loan application processes.

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 Important Monthly Current Affairs Capsule – January 2025

● Sanctions for vehicle loans can now be self-generated, even on holidays or Sundays, with video-
KYC also available on Sundays.
About Punjab & Sind Bank :
● Founded : 24 June 1908
● Headquarters : New Delhi, India
● MD & CEO : Swarup Kumar Saha
Bank of Maharashtra plans Rs 2,500 crore Qualified Institutional Placement in FY26 to boost business
growth
● Bank of Maharashtra (BoM) plans to raise Rs 2,500 crore through a Qualified Institutional
Placement (QIP) in FY26 to support business growth and reduce government holding to 75%.
● The bank raised Rs 3,500 crore through QIP, reducing the government's stake from 86.46% to
79.60%.
● The government's stake in BoM will be reduced to 75% by August 2026, in line with regulatory
requirements for minimum public holding (at least 25%).
About Bank of Maharashtra :
● Established : 16 September 1935
● Headquarters : Pune, Maharashtra India
● MD & CEO : Nidhu Saxena
● Tagline : One Family One Bank
Securities and Exchange Board of India and National Institute of Securities Markets Launch Innovative
E-Learning Course on Municipal Bonds
● The Securities and Exchange Board of India (SEBI) has partnered with the National Institute of
Securities Markets (NISM) to launch an e-learning course on municipal bonds.
● Objective of the Course: The course aims to enhance the understanding of municipal bonds
among municipal corporations, urban local bodies, and other stakeholders, helping them
leverage bonds for urban infrastructure development.
● The initiative promotes the issuance of municipal bonds as an alternative funding mechanism for
urban infrastructure projects.
● Municipal Bonds Overview: Municipal bonds (muni bonds) are debt securities issued by urban
local governments and agencies. They are used to fund everyday obligations and finance capital
projects such as highways, roads, and schools.
About SEBI :

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 Important Monthly Current Affairs Capsule – January 2025

● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.
About NISM :
● Headquarters : Mumbai, Maharashtra
● NISM is an Indian public trust, established in 2006 by SEBI (Securities and Exchange Board of
India).
● It serves as the national apex body for regulating and licensing financial market professionals in
India.
● NISM is also the central training institute for SEBIs civil service staff.
● It operates under the ownership of SEBI, Ministry of Finance, Government of India.
● NISM provides certification and training programs to enhance knowledge and skills in the
securities market.
Shriram Housing Finance Rebranded as Truhome Finance After Acquisition by Warburg Pincus and QIA
● Shriram Housing Finance (SHF) has rebranded itself as Truhome Finance following its
acquisition by Warburg Pincus and its co-investors, including QIA (Qatar’s sovereign wealth
fund), from Shriram Finance.
● In December 2024, Shriram Finance completed the sale of its entire stake (84.44% of the
shareholding on a fully diluted basis) in SHF to Warburg Pincus for ₹3,929 crore.
● The rebranding aligns with Truhome Finance's vision of enabling homeownership and ensuring
financial accessibility for individuals across various socio-economic backgrounds.
● MD & CEO ofTruhome Finance : Ravi Subramanian
Groww Mutual Fund unveils its first-ever ETF based on the Indian Railways PSU Index
● Groww Mutual Fund has launched the Groww Nifty India Railways PSU ETF, the first exchange-
traded fund (ETF) focused on the Indian railway sector.
● The New Fund Offer (NFO) will be open for subscription from January 16 to January 30, 2025.
● The ETF aims to track the Nifty India Railways PSU Index-TRI, providing exposure to public
sector undertakings (PSUs) crucial to Indias railway ecosystem.
National Payments Corporation of India Responds to 'Jumped Deposit' Scam Allegations in UPI

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 Important Monthly Current Affairs Capsule – January 2025

Payments, Denies Any Fraud Occurrence

● The National Payments Corporation of India (NPCI) has refuted claims about the "Jumped
Deposit" scam, stating that no fraud incidents related to UPI transactions have been found.
● Media reports had described a scam where fraudsters deposit small amounts into UPI users'
accounts and use psychological manipulation to encourage larger payment authorizations.
● NPCI reaffirmed that UPI is a device-based payment system that securely links a user's account
with their registered mobile number and device, ensuring safe transactions.
About NPCI :
● Founded : 2008
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Dilip Asbe
● The NPCI is an umbrella organization for operating retail payments and settlement systems in
India.
● It is an initiative of the Reserve Bank of India (RBI) and Indian Banks Association (IBA) under the
provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment &
Settlement Infrastructure in India.
Bank of Baroda introduces bob Liquid FD to offer improved liquidity and convenience
● Bank of Baroda (BoB) has launched an innovative alternative to traditional Fixed Deposits (FDs)
called bob Liquid Fixed Deposits.
● Interest Rates:6.85% interest rate for general customers on a 1-year FD.
● 7.35% for senior citizens on a 1-year FD and 7.40% on a 5-year FD.
● Flexibility:The deposit amount can start from ₹5,000.
● Tenure options range from 12 months to 60 months.
● Partial withdrawals are allowed in multiples of ₹1,000.
About Bank of Baroda :
● Established : 20 July 1908
● Headquarters : Vadodara, Gujarat, India
● MD & CEO : Debadatta Chand
India to Drive G20 Insurance Growth with 7.3% Annual Premium Increase: Swiss Re
● According to Swiss Re's latest insurance market outlook report, India's insurance market is
poised for rapid growth, with the country projected to lead the G20 nations in premium expansion
at an average rate of 7.3% annually between 2025 and 2029.

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 Important Monthly Current Affairs Capsule – January 2025

● The report underscores India's emergence as a global economic powerhouse, supported by

robust domestic consumption, private investment, and progressive reforms.
● Swiss Re also expects India to be the fastest growing G20 economy over the next ten years
(2025-2034) with average real GDP growth of 6.2% annually (10% in nominal terms).
● Life insurance remains the cornerstone of India's insurance market, contributing 74% of total
premium volumes.
● Life insurance premiums are forecast to grow by 4.8% in 2024 and 5% in 2025.
● For the 2025-29 period, growth is expected to average 6.9% annually.
● Non-life insurance is anticipated to grow at 7.3% annually between 2025 and 2029, up from 5.7%
in 2024.
HSBC India Receives Reserve Bank of India Nod to Establish 20 New Branches Across 20 Cities
● HSBC India has received approval from the Reserve Bank of India (RBI) to open 20 new
branches in key cities across the country.
● This approval marks the largest branch expansion by a foreign bank in India in over a decade.
● After the expansion, HSBC India will have a total of 46 branches in the country.
● Current Branch Network:As of now, HSBC India has a network of 26 branches across 14 cities in
India.
● New Branch Locations:The 20 cities where HSBC India will open new branches include:
Amritsar, Bhopal, Bhubaneswar, Dehradun, Faridabad, Indore, Jalandhar, Kanpur, Ludhiana,
Lucknow, Mysuru, Nagpur, Nashik, Navi Mumbai, Patna, Rajkot, Surat, Thiruvananthapuram,
Vadodara, and Vishakhapatnam.
● Notable Branch Inauguration:HSBC India recently inaugurated a large 8,300 square foot branch
in Bengaluru,Karnataka which is its largest branch in the country to date.
About HSBC India :
● Headquarters : Mumbai, Maharashtra, India
● CEO : Hitendra Dave
Reserve Bank of India Instructs Banks to Utilize '1600xx' Number Series for Transaction-Related
Customer Calls

● The Reserve Bank of India (RBI) has instructed banks and other regulated entities (REs) to use
the '1600xx' phone numbering series exclusively for making transactional calls to customers.
● This move is aimed at preventing financial fraud.

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 Important Monthly Current Affairs Capsule – January 2025

● Use of '140xx' for Promotional Calls:For promotional purposes, the RBI has directed that banks
and REs should use the '140xx' series for calls, to avoid confusion with transactional calls and to
reduce the risk of fraud.
● The RBI has advised regulated entities to use the Mobile Number Revocation List (MNRL)
available on the Digital Intelligence Platform (DIP), developed by the Department of
Telecommunications (DoT), to monitor and clean up their customer databases.
● Deadline for Compliance:All regulated entities are required to ensure compliance with the RBI’s
instructions by March 31, 2025.
● Entities Affected by the Circular:The circular applies to:
○ Commercial Banks (including Regional Rural Banks, Small Finance Banks, Payment
Banks, and Local Area Banks)
○ Cooperative Banks
○ Prepaid Payment Instrument Issuers
○ Non-Banking Financial Companies (NBFCs), including Housing Finance Companies
○ Credit Information Companies
○ Payment Aggregators
○ Payment Systems Participants & Providers
Financial Intelligence Unit (FIU-IND) and National Housing Bank (NHB) Sign Memorandum of
Understanding to Strengthen Coordination and Information Sharing
● The Financial Intelligence Unit-India (FIU-IND) and the National Housing Bank (NHB) signed a
Memorandum of Understanding (MoU) to enhance coordination and information exchange in the
fight against money laundering and terrorism financing.
● The MoU aims to streamline reporting processes for housing finance companies to improve their
compliance with the Prevention of Money Laundering Act (PMLA) and related regulations.
Key Signatories:
● Shri Vivek Aggarwal, Director of FIU-IND.
● Shri Sanjay Shukla, Managing Director of NHB.
About NHB:
● NHB is the regulatory authority overseeing the regulation and licensing of housing finance
companies in India.
● It operates under the Ministry of Finance, Government of India.
● Established on July 9, 1988, under the National Housing Bank Act, 1987.

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 Important Monthly Current Affairs Capsule – January 2025

About FIU-IND:
● FIU-IND is an agency under the Department of Revenue, Government of India.
● It collects and analyzes financial intelligence related to offenses under the Prevention of Money
Laundering Act, 2002 (PMLA).
About Ministry of Finance :
● Cabinet Minister : Nirmala Sitharama
● Minister of State : Pankaj Chaudhary
Reserve Bank of India Launches Daily Variable Rate Repo Auctions to Address Liquidity Shortage
● On a review of current and evolving liquidity conditions, the Reserve Bank of India (RBI) has
decided to conduct Variable Rate Repo (VRR) auctions on all working days in Mumbai with
reversal taking place on the next working day, until further notice.
● The reversal of VRR auction conducted on a Friday will take place on the ensuing Monday or the
next working day, if Monday is a holiday in Mumbai.
● The auction will be conducted between 10:00 AM and 10:30 AM every day.
● First Auction : The first such auction will be conducted on January 16, 2025, Thursday, for an
amount of ₹50,000 crore.
● Eligible Participants : Standalone Primary Dealers will be allowed to participate in these auctions,
along with all other eligible participants.
● Auction Platform : The auction will be conducted on CBS (e-Kuber) platform.
Securities and Exchange Board of India Strengthens Small and Medium Enterprises Initial Public
Offerings Guidelines, Caps Promoter offer for sale at 20%
● The Securities and Exchange Board of India (SEBI) tightened rules for initial public offerings
(IPO) of small and medium enterprises, and tweaked the framework for merchant bankers and
custodians by raising their minimum net-worth requirements.
● Tightened IPO Rules for SMEs : SEBI has proposed raising the minimum application size for
Small and Medium Enterprises (SME) IPOs from ₹1 lakh to ₹2-4 lakh.
● SEBI also proposed increasing the minimum number of allottees from 50 to 200.
● Currently application size for SME IPOs is at least ₹1 lakh and minimum number of allottees for
SME IPOs is 50.
● Offer for Sale (OFS) Limitations : Sebi has also limited the offer for sale (OFS) size by selling
shareholders to 20% of the total issue size, while a selling shareholder cannot sell more than
50% of their holdings.

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 Important Monthly Current Affairs Capsule – January 2025

● Public Comment Period : IPO prospectus filed with the bourses will be available for 21 days for
the public to provide comments on the same.
● Merchant Bankers' Net-Worth Requirement : Sebi also changed the rules governing merchant
bankers in India.
● It increased the net worth requirement ten times to ₹50 crore, from ₹5 crore.
● As on July 31, there are 224 merchant bankers registered with Sebi.
● Two categories of merchant bankers are introduced:
➔ Category 1: Net worth of at least ₹50 crore, allowed to undertake all merchant banking
activities.
➔ Category 2: Allowed to carry out most activities except managing fund-raising for main
board companies.
● Mutual Fund Managers : SEBI also stated that from now on mutual fund managers will have to
deploy their funds raised through NFOs within 30 days.
● Custodians' Net-Worth and Framework : SEBI stated a net worth of Rs 75 crore be maintained by
custodians.
● PaRRVA Initiative : SEBI unveiled the Past Risk and Return Verification Agency (PaRRVA) to
curb misleading investment return claims.
● This bold initiative aims to restore clarity and credibility in the financial space, offering investors a
more reliable way to assess promotional claims.
● Custodians' New Framework : The SEBI has proposed that custodians increase their net worth
from ₹50 crore to ₹100 crore.
● Custodians that don't meet the new requirement will have three years to comply.
● Custodians will now adopt a comprehensive framework similar to that of Qualified Stock Brokers.
Reserve Bank of India Says Tata Sons' De-registration Application is Under Review
● The Reserve Bank of India (RBI) has released the list of Non-Banking Financial Companies -
Upper Layer (NBFC-UL) for the financial year 2024-25, maintaining the same 15 entities as in the
previous year (2023-24).
● No new NBFCs have been included in the NBFC-UL list for FY25.
● Scale-Based Regulation (SBR):The RBI issued the Scale-Based Regulation (SBR) on 22
October 2021, a revised framework categorizing NBFCs into four layers: Base Layer (NBFC-BL),
Middle Layer (NBFC-ML), Upper Layer (NBFC-UL), and Top Layer (NBFC-TL).

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 Important Monthly Current Affairs Capsule – January 2025

● Tata Sons' Inclusion:Tata Sons' inclusion in the NBFC-UL list is subject to the outcome of its
application for de-registration, which is currently under examination.
Business Correspondents urge Reserve Bank of India to ease 14-year-old restrictions on daily and
monthly transfers
● Business correspondents (BCs)-who process thousands of crores of rupees daily in domestic
remittances-have urged the Reserve Bank of India (RBI) to relax the restrictions it had imposed
on monthly and daily transfers 14 years ago.
● They have written to the RBI, requesting it to double the monthly transfer limit to ₹50,000 and
reduce the requirement of a two-factor authentication (2FA) to once a month from it being
needed for every transaction now.
● New domestic money transfer (DMT) rules, aimed at preventing misuse of banking channels,
kicked in from November 1,2024.
● They mandate companies to maintain detailed records of remitters and recipients.
● Business Correspondents (BCs) are representatives of banks who provide basic banking
services to customers, particularly in rural and semi-urban areas where banking infrastructure is
limited.
● The RBI has set transaction limits for BCs, which vary depending on the type of transaction and
the customer's account type.
● Daily transaction limit: ₹10,000 per customer per day.
● Monthly transaction limit: ₹25,000 per customer per month (recently requested to be increased to
₹50,000).
Tata Capital secures $400 million via its first international bond issuance
● Tata Capital Limited, an diversified Non-Banking Finance Company (NBFC), raised $400 million
through a Fixed Rate Senior Unsecured Reg S Bond offering in the international bond market.
● Bond Details: The bond has a 3.5-year tenor with an interest rate of 5.389% per annum.
● Maiden USD Bond Issuance: This is Tata Capital’s first USD bond issuance.
● First Investment Grade Issuance: It is the first investment-grade rated bond issuance by a Tata
Group company and by a private sector NBFC from India.
● Reg S Status: The bonds are issued under Reg S status, meaning they don't require registration
with the US Securities and Exchange Commission.
● The issuance achieved the tightest spread over US Treasuries for a 3/3.5-year USD-
denominated bond by a BBB- rated issuer from South and Southeast Asia.

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 Important Monthly Current Affairs Capsule – January 2025

About Tata Capital :

● Founded : 2007
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Rajiv Sabharwal
NPCI International Teams Up with Magnati to Boost UPI Acceptance in UAE
● NPCI International Payments Limited (NIPL), the international arm of India’s National Payments
Corporation of India (NPCI) has partnered with UAE-based payment solution provider Magnati to
expand QR-based Unified Payments Interface (UPI) merchant payments in the Middle East.
● The partnership aims to enhance UPI-based payments via point-of-sale (POS) terminals in the
UAE, primarily for Indian travelers.
● Objective:The goal is to enable more merchants in the UAE to accept UPI as a payment method,
thus catering to the 12 million Indian tourists traveling to Dubai and the UAE annually.
Punjab & Sind Bank to Raise ₹2,000 Crore Through Qualified Institutional Placement in Current Quarter
● Punjab & Sind Bank plans to raise ₹2,000 crore through Qualified Institutional Placement (QIP)
during the current quarter.
● Post-QIP, the government’s stake in the bank is expected to decrease by 3-4%.
● As of December 2024, the government holds 98.25% of the bank.
● Minimum Public Shareholding (MPS): The government extended the deadline to meet the
minimum public shareholding norms for central public sector enterprises and public sector
financial institutions until August 2026.
● 5 out of 12 public sector banks (PSBs) still have government holdings above 75%.
● MPS Norms: As per SEBI, listed companies must maintain 25% public shareholding.
● Capital Raising Plans: Punjab & Sind Bank’s board approved a ₹10,000 crore capital raising plan
for the current fiscal, including:
➔ ₹5,000 crore in infrastructure bonds
➔ ₹2,000 crore through QIP
➔ ₹3,000 crore through Tier-1 or Tier-2 bonds
About Punjab & Sind Bank :
● Founded : 24 June 1908
● Headquarters : New Delhi, India
● MD & CEO : Swarup Kumar Saha
Bank of Japan Poised to Increase Interest Rates

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 Important Monthly Current Affairs Capsule – January 2025

● Kazuo Ueda, Governor of the Bank of Japan (BOJ), will evaluate the need to raise interest rates
during the upcoming meeting.
● While most central banks, like the Federal Reserve, are focusing on rate cuts, the BOJ is
considering raising rates as part of its efforts to move toward conventional policy settings after
decades of low inflation and weak economic growth.
● Around 90% of economists surveyed by Bloomberg believe that current economic conditions and
prices warrant a rate hike from the current 0.25%.
About Bank of Japan :
● Founded : 1882
● Headquarters :Tokyo, Japan
Reserve Bank of India Sells Record $20.2 Billion in November to Support Rupee Amid FPI Outflows
● The Reserve Bank of India (RBI) sold a record $20.2 billion in the foreign exchange market in
November to stabilize the rupee and contain volatility against the US dollar.
● Net Short Position: As of November end, the RBI's net short position in the forward market rose
to $58.9 billion, compared to $49.18 billion at the end of October.
● Spot Market Interventions:The RBI bought $30.8 billion and sold $51.1 billion in the spot market
in November, indicating aggressive intervention.
● Foreign Investors' Actions: Foreign investors net sold $2.1 billion worth of Indian equities in
November, contributing to the demand for the dollar.
● Previous Spot Market Position: In November 2023, the RBI was a net seller of $1.9 billion in the
spot market, compared to a net purchase of $41.27 billion in the previous financial year.
Reserve Bank of India Infuses ₹76,000 Crore into Banking System via Variable Rate Repo (VRR)
Operation
● The Reserve Bank of India (RBI) injected ₹75,772 crore into the banking system via a variable rate
repo (VRR) operation.
● The primary goal was to boost liquidity and rein in call money rates, which are the short-term
interest rates at which banks lend to each other.
● The move was made to ensure there is sufficient liquidity in the financial system, especially during
periods of tight liquidity.
● This initiative aimed to control the fluctuations in call money rates, which can affect the overall cost
of borrowing in the economy.
Reserve Bank of India Amends Directions For Settlements By Assets Reconstruction Companies With

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 Important Monthly Current Affairs Capsule – January 2025

Borrowers
● The Reserve Bank of India (RBI) came up with new guidelines for Asset Reconstruction
Companies (ARCs) to streamline and provide an efficient settlement process for the dues of
borrowers.
● The new guidelines were set in motion on January 20, 2025, after a detailed review of existing
rules and regulations.
● The guidelines aim to streamline the settlement process for borrowers’ dues and
enhance transparency in the recovery of Non-Performing Assets (NPAs).
● The focus is on settlements for borrowers who have defaulted on loans, with debts managed by
ARCs, ensuring fairness and efficiency in settlements while protecting the interests of both
borrowers and financial institutions.
Bajaj Finance has entered into a partnership with Bharti Airtel to create a digital platform for financial
services.
● Bajaj Finance and Bharti Airtel have partnered to create a digital platform for financial services,
targeting Airtel’s vast customer base.
● The platform will cater to 375 million customers of Airtel and the 1.2 million distribution network of
the telecom company.
● Bajaj Finance’s products will be available through Airtel’s stores and initially on the Airtel Thanks
App, offering a seamless and secure customer experience.
Power Finance Corporation signs 120 bn yen loan pact with Japan Bank for International Cooperation for
Renewable Energy project
● Power Finance Corporation (PFC) has signed a loan agreement with Japan Bank for International
Cooperation (JBIC) for 120 billion Japanese yen (~₹6,600 crore).
● JBIC will provide JPY 72 billion, with the balance funded by commercial banks.
● The funds will be used to finance PFC’s renewable energy portfolio, supporting India’s transition
to non-fossil-fuel-based energy sources.
● The loan is long-term, with a tenure of up to 20 years.
● This loan is part of JBIC’s initiative ‘Global action for Reconciling Economic growth and
Environmental preservation (GREEN)’.
About Power Finance Corporation (PFC):
● Headquarters (HQ): New Delhi, India
● Chairman & Managing Director: Parminder Chopra

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 Important Monthly Current Affairs Capsule – January 2025

● Founded: 1986
About Japan Bank for International Cooperation (JBIC):
● Headquarters (HQ): Tokyo, Japan
● Chairman & CEO: Tadashi Maeda
● Founded: 1999
Securities and Exchange Board of India Proposes Changes to Not-for-Profit Organizations (NPOs) and
Social Stock Exchange (SSE)
● The Securities and Exchange Board of India (SEBI) has proposed broadening the definition of Not-
for-Profit Organizations (NPOs) and expanding eligible activities under the Social Stock Exchange
(SSE) to address operational challenges and create a more inclusive framework.
● The proposals, outlined in a consultation paper issued on January 20, 2025.
Proposed changes:
1. Broader Activities for Social Enterprises:
● The eligible activities list now includes vocational skills training, welfare for disadvantaged groups
(children, women, the elderly), environmental stewardship, and the promotion of arts, culture,
and heritage.
● Additionally, welfare for domestic and vulnerable animals, preservation of heritage in remote
locations, and research in science and medicine funded by public entities have been added.
2. New Legal Structures Recognized as NPOs:
● SEBI recommends adding more legal structures to qualify as NPOs, such as trusts registered
under the Indian Registration Act, charitable societies under state laws,
and companies under Section 25 of the Companies Act, 1956.
● This change is designed to allow a wider range of organizations to participate in the SSE.
3. Addressing Cost and Registration Concerns:
● To address cost-related challenges, SEBI proposes allowing NPOs to register with the SSE for up
to two years without raising funds, acknowledging the financial constraints faced by many NPOs
in transitioning to listing.
4. Governance and Reporting:
● Proposals suggest separating financial and non-financial annual disclosures,
including governance and tax details, and requiring separate impact reports for listed and non-
listed projects.
● It also includes replacing Social Impact Assessment Firms with Social Impact Assessment

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 Important Monthly Current Affairs Capsule – January 2025

Organizations employing experienced assessors.

5. Current Status:
● As of December 31, 2024, 111 NPOs are registered with the SSE, with ₹22 crore raised by 10
organizations through Zero Coupon Zero Principal instruments.
● SEBI has invited feedback on the proposals until February 10, 2025.
About SEBI:
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.
Skydo Receives Reserve Bank of India Nod to Operate as a Payment Aggregator-Cross Border Entity
● Skydo Technologies, a cross-border payments company, has received in-principle authorization
from the Reserve Bank of India (RBI) to operate as a Payment Aggregator-Cross Border (PA-CB)
entity.
● This authorization strengthens Skydo’s mission of making cross-border payments compliant,
seamless, and cost-effective for Indian exporters.
● Skydo currently serves over 12,000 exporters in India, processing over $250 million in annual
export payments.
Deloitte Projects Indian Economy to Grow 6.5-6.8% in FY 2024-25
● Deloitte India revised its 2024-25 GDP growth projection to 6.5-6.8% amid global trade
uncertainties.
● The economy faces challenges with lower-than-expected Q2 growth (5.4%), lagging government
capex, election uncertainties, and high inflation.
● However, strong rural consumption and a thriving services sector show
● The Indian economy faces a slowing growth-high inflation conundrum, with food prices remaining
a key concern.
About Deloitte:
● Founded: 1845
● Founder: William Welch Deloitte
● Headquarters: London, England

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 Important Monthly Current Affairs Capsule – January 2025

● Chairperson: Anna Marks

● CEO : Joseph B. Ucuzoglu
Shriram Life Insurance Introduces Shriram Life Sunishchit Laabh Plan
● Shriram Life Insurance has launched Shriram Life Sunishchit Laabh, a non-participating individual
savings plan that guarantees high returns of up to 668% of the total premium paid.
About Shriram Life Insurance:
● Founded: 2005
● Headquarters: Hyderabad, India
TATA AIG Launches CyberEdge: A Comprehensive Cyber Insurance Solution for Indian Businesses
● TATA AIG General Insurance Company, a leading general insurance provider, has
introduced CyberEdge, a new cyber insurance solution designed to protect businesses of all sizes
against a wide array of cyber risks.
● The policy offers robust financial and operational support, covering forensic investigations, legal
fees, data recovery, extortion payments, and losses from business interruptions.
About TATA AIG General Insurance Company:
● Founded : 2001
● Headquarters : Mumbai, Maharashtra, India
● MD & CEO : Neelesh Garg
● Owner : Tata Sons (51%), American International Group (49%)
IDFC First Bank Partners with RuPay to Unveil FIRST EA₹N RuPay Credit Card
● IDFC FIRST Bank, in collaboration with RuPay, has launched the transformative UPI-enabled
RuPay Credit Card named ‘FIRST EA₹N’.
● This innovative product is a Fixed Deposit (FD)–backed virtual credit card designed to democratize
credit access while offering rewarding benefits for users.
● The FIRST EA₹N RuPay Credit Card enables customers to seamlessly access credit via UPI, a
feature that stands out in the financial services industry.
About IDFC FIRST Bank:
● Founded: 2015
● Headquarters: Mumbai, Maharashtra, India
● Managing Director & CEO: V. Vaidyanathan
● Tagline : Always You First
● Merger: IDFC Bank merged with Capital First in 2018

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 Important Monthly Current Affairs Capsule – January 2025

Tata AIA Life Insurance launches ‘Shubh Muhurat’ to meet wedding expenses
● Tata AIA Life Insurance has launched ‘Shubh Muhurat,’ a life insurance solution to help parents
save for their child’s wedding.
● The solution is suited for parents aged between 31 and 50 years, having children in the age group
of 1 to 20 years.
● Investing in this solution early can give the parent long enough to accumulate the desired corpus
for the child’s grand wedding.
● Shubh Muhurta gives capital guarantee with equity exposure.
About Tata AIA Life Insurance Company:
● Founded: 1 April 2001
● Headquarters: Mumbai, Maharashtra
● Parent organizations: AIA Group, Tata Sons
● CEO: Venkatachalam Iyer
ACKO Launches E-Challan Service to Simplify Traffic Fine Payments in Karnataka
● ACKO, a leading digital-first insurance provider, has introduced an innovative e-challan service for
seamless traffic fine payments in Karnataka.
● Citizens can check their e-challan status and pay traffic fines directly through the ACKO
app or website, eliminating long queues and tedious processes.
● The service includes Bangalore’s traffic challan system, enhancing convenience for motorists
across the state.
About ACKO General Insurance:
● Founded: 2016
● Headquarters: Bengaluru, Karnataka, India
● Founder and CEO: Varun Dua
YES Bank launches frictionless finance accelerator programme to support Fintech startups
● YES Bank, in collaboration with the Reserve Bank Innovation Hub (RBIH) and the P. Jain Institute
of Management and Research (SPJIMR), has launched the Frictionless Finance Accelerator
Programme on National Startup Day.
● This initiative aims to support fintech startups in overcoming challenges, scaling innovations, and
promoting financial inclusion in India.
About YES Bank:
● Founded: 2004

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 Important Monthly Current Affairs Capsule – January 2025

● Headquarters: Mumbai, Maharashtra, India

● Managing Director & CEO: Prashant Kumar
● Tagline :“Life Ko Banao Rich”
UGRO Capital and iSPIRT to launch Priority Sector Lenders Association of India (PSLAI)
● iSPIRT has collaborated with UGRO Capital to launch the Priority Sector Lenders Association of
India (PSLAI), a Section 8 company aimed at addressing credit challenges in priority sectors,
particularly Micro, Small, and Medium Enterprises (MSMEs).
● Founding members of PSLAI include UGRO Capital, IIFL, and fintech companies
like GetVantage and GetGrowth Capital.
● PSLAI focuses on promoting loans under the Reserve Bank of India (RBI) Priority Sector Lending
(PSL) norms, which are designed to support sectors like agriculture, small businesses,
and affordable housing.
● Under RBI rules, banks are required to allocate 40% of their Adjusted Net Bank Credit
(ANBC) to PSL, which amounts to approximately Rs 64 trillion in loans annually.
About URGO Capital:
● Founded: 2018
● Headquarters: Mumbai, Maharashtra, India
● Managing Director & CEO: Sachindra Nath
Punjab National Bank (PNB) Becomes First Indian Bank to Launch Clari5’s National Cybercrime
Reporting Portal (NCRP) Integration Solution
● Punjab National Bank (PNB) has achieved a remarkable milestone by becoming the first Indian
bank to implement Clari5’s NCRP Integration Solution, a cutting-edge platform integrated with
the Indian Cybercrime Coordination Centre’s (I4C) National Cybercrime Reporting Portal (NCRP).
● This marks a significant step toward real-time cybercrime complaint management and fraud
prevention.
About Punjab National Bank (PNB):
● Founded: 1894
● Headquarters: New Delhi, India
● Tagline: “The Name You Can Bank Upon”
Indian Bank Partners with Escorts Kubota Limited for Financing Solutions
● Indian Bank has partnered with Escorts Kubota Limited, a manufacturer
of tractors and construction equipment, to offer financing solutions to its dealers and customers.

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 Important Monthly Current Affairs Capsule – January 2025

● The partnership aims to provide working capital and tractor loans at affordable interest rates,
covering Escorts Kubota’s full product range, including Powertrac, Farmtrac, and Kubota tractors.
About Indian Bank:
● Founded: 1907
● Headquarters: Chennai, Tamil Nadu, India
● Tagline: “Your Own Bank”
Securities and Exchange Board of India Proposes ₹250 Sachetised Systematic Investment Plan to
Enhance Mutual Fund Accessibility
● The Securities and Exchange Board of India (SEBI) has proposed the introduction of a ₹250
systematic investment plan (SIP), referred to as a sachetised mutual fund product, to enhance
mutual fund accessibility across the country.
● The consultation paper is open for public comments until February 6, 2025.
Key highlights:
● Discounted Fees: SEBI proposes subsidized fees for mutual fund asset management companies
(AMCs) offering this product.
● Limit on SIPs: Investors can initiate up to three ₹250 SIPs, one each in up to three AMCs, with
discounted rates applicable only to the first three SIPs.
● Growth Option: The ₹250 SIP will be available only under the Growth option of mutual fund
schemes.
Policybazaar.ae Launches ‘PB Advantage’ to Enhance Health Insurance Experience in United Arab
Emirates
● Policybazaar.ae, the UAE’s leading online insurance marketplace, has introduced PB Advantage,
a revolutionary initiative aimed at transforming the health insurance experience in the UAE.
● It offers innovative features and exclusive benefits, ensuring a seamless journey from policy
purchase to claims processing.
Reserve Bank of India Approves Establishment of National Urban Cooperative Finance and Development
Corporation (NUCFDC) to Support Urban Cooperative Banks
● Union Home Minister and Minister of Cooperation Shri Amit Shah will inaugurate the corporate
office of the National Urban Cooperative Finance and Development Corporation
(NUCFDC) in Mumbai on January 24, 2025.
● The event will mark the launch of several initiatives aimed at achieving Prime Minister Shri
Narendra Modi’s vision of “Sehkar Se Samriddhi” (Prosperity through Cooperation).

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 Important Monthly Current Affairs Capsule – January 2025

Bharat Interface for Money Partners with FinTech Yatra 2025 to Boost Financial Inclusion and Digital
Literacy
● Bharat Interface for Money (BHIM), powered by NPCI BHIM Services Limited (NBSL), has joined
hands with FinTech Yatra 2025 to promote financial inclusion and digital literacy across India.
● Train-the-Trainer Model: Over 200 individuals from NGOs will be trained to educate communities
about secure digital payment practices, with a focus on rural and remote areas.
● The 10,000 km journey aims to connect fintech innovators with financial institutions, venture
capitalists, and stakeholders to foster innovation in India’s financial ecosystem.
About Bharat Interface for Money:
● Headquarters (HQ): New Delhi, India
● Launched: 2016
● Chairman: Ajay Kumar Choudhary
Bank of Baroda Signs Memorandum of Understanding with South Central Railway for Comprehensive
Salary Package
● Bank of Baroda (BoB) has signed a Memorandum of Understanding (MoU) with South Central
Railway (SCR) to provide a comprehensive salary package for over 85,000 employees across 6
states: Telangana, Andhra Pradesh, Maharashtra, Karnataka, Madhya Pradesh, and Tamil Nadu.
● The MoU, signed in the presence of senior officials from both organizations, underscores the
bank’s commitment to delivering tailored financial solutions to government employees.
State Bank of India Payments and Pine Labs Partner to Accelerate Adoption of Digital Commerce
Solutions
● State Bank of India Payments and Pine Labs have announced an expanded partnership, building
on their 12-year collaboration.
● SBI Payments, a joint venture between the State Bank of India and Hitachi Payment Services Pvt.
Ltd., has joined forces with Pine Labs, a leading merchant commerce platform, to further
strengthen their alliance.
● The partnership aims to accelerate the adoption of digital payments and commerce
solutions across India.
About SBI Payments:
● Headquarters: Mumbai, Maharashtra
● MD & CEO: Sujay Kumar Yadav
About Pine Labs:

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 Important Monthly Current Affairs Capsule – January 2025

● Founded : 1998
● Headquarters: Noida, Uttar Pradesh
● MD & CEO: Amrish Rau
Jio Introduces ‘JioSoundPay’ to Simplify UPI Payments for Small Businesses
● Reliance Jio has launched JioSoundPay, an innovative feature for its JioBharat device, designed
to revolutionize payment operations for small-scale merchants across India.
● The feature provides instant, multilingual audio confirmations for UPI payments, eliminating the
need for a separate sound box.
● Currently, small and micro merchants spend approximately ₹125 per month on sound boxes, but
JioSoundPay is offered free for life, allowing JioBharat users to save nearly ₹1,500
About Reliance Jio:
● Headquarters: Mumbai, Maharashtra
● Founder: Mukesh Ambani
● Chairman : Akash Ambani
Reserve Bank of India Ombudsman Scheme Overwhelmed: 32.81% Surge in Banking Complaints
● The Reserve Bank of India (RBI) released the Annual Report of the Ombudsman Scheme for the
period from April 1, 2023, to March 31, 2024.
● The report highlights key activities under the Integrated Ombudsman Scheme (RB-IOS), 2021,
which covers banks, NBFCs, payment system participants, and credit information companies, and
emphasizes consumer education and protection.
● The scheme saw a 32.81% increase in complaints, reaching 9.34 lakh, which were registered
with 24 Offices of the RBI Ombudsman (ORBIOs) and the Centralised Receipt and Processing
Centre (CRPC).
● Of the total complaints, 2,93,924 (31.46%) were received at ORBIOs, and 6,40,431 (68.54%) were
received at the CRPC. ORBIOs achieved a 95.10% disposal rate, resolving 2,84,355 complaints.
● The report also reveals that 85,281 complaints (29.01%) related to loans and advances, showing
a 42.70% increase, while 57,242 complaints (19.48%) were related to mobile/electronic banking,
marking a 32.61% increase. 46,358 complaints (15.77%) were about deposit accounts,
and 42,329 complaints (14.40%) concerned credit cards.
● Chandigarh, NCT of Delhi, Rajasthan, Gujarat, and Uttarakhand were the top five contributors to
complaints at ORBIOs in terms of complaints per lakh accounts, while Mizoram, Nagaland,
Ladakh, Manipur, and Lakshadweep were the lowest contributors.

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 Important Monthly Current Affairs Capsule – January 2025

About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra
Reserve Bank of India penalises J&K Bank, Bank of India, Canara Bank
Penalty on Jammu and Kashmir Bank:
● RBI imposed a penalty of ₹3.32 crore on Jammu and Kashmir Bank Limited through an order dated
January 14, 2025, for non-compliance with directions related to Basic Savings Bank Deposit
Account (BSBDA), Know Your Customer (KYC), and Loans and Advances – Statutory and Other
Restrictions.
● The action was taken under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation
Act, 1949.
Penalty on Bank of India:
● On January 7, 2025, RBI imposed a penalty of ₹1 crore on Bank of India for failing to comply with
provisions of Section 26A of the Banking Regulation Act, 1949, concerning the Depositor
Education and Awareness Fund Scheme, 2014.
● This penalty was based on findings from an inspection of the bank’s financial position as of March
31, 2023, under Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Act.
Penalty on Canara Bank:
● RBI also penalized Canara Bank ₹1.64 crore on January 7, 2025, for non-compliance with
directions on Priority Sector Lending – Targets and Classification, Interest Rate on Deposits,
and BSBDA.
● The penalty was based on an inspection of the bank’s financial position as of March 31, 2023.
● Specific violations included collecting charges on Priority Sector loans of up to ₹25,000, failing to
pay interest on certain Savings Bank accounts, and maintaining both Savings Bank Deposit
accounts and BSBDAs for the same customers.
About Jammu & Kashmir Bank:
● Founded: 1938
● Headquarters: Srinagar, Jammu & Kashmir, India
● Managing Director & CEO: Amitava Chatterjee
● Tagline: “Serving to Empower”
About Bank of India:

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 Important Monthly Current Affairs Capsule – January 2025

● Founded: 1906
● Headquarters: Mumbai, Maharashtra, India
● Managing Director & CEO: Rajneesh Karnatak
● Tagline: “Relationships Beyond Banking”
About Canara Bank:
● Founded: 1906
● Headquarters: Bengaluru, Karnataka, India
● Managing Director & CEO: K. Satyanarayana Raju
● Tagline: “Together We Can”
Reserve Bank of India Announces 6.66% Interest Rate on Government of India Floating Rate Bonds 2035
● The Reserve Bank of India (RBI) has announced that the interest rate on the Government of India
Floating Rate Bonds, 2035 (GOI FRB 2035), will be 6.66% per annum for the period from January
25, 2025, to January 24, 2030.
● The GOI FRB 2035 was originally issued on January 25, 2005, by the Government of India to the
RBI on a private placement basis.
● This issuance was made against the transfer of subordinated debt of
● For the current period, the coupon rate of 6.66% was determined based on secondary market
transactions in Government securities as of January 24, 2025.
Reserve Bank of India imposes monetary penalty on Datson Exports Limited, West Bengal
● The Reserve Bank of India (RBI), through an order dated January 15, 2025, has imposed a
monetary penalty of ₹1 lakh on Datson Exports Limited., West Bengal for non-compliance with
RBI’s directions on ‘Managing Risks and Code of Conduct in Outsourcing of Financial Services by
NBFCs’.
● This action has been taken under the provisions of Section 58 G(1)(b) read with Section
58B(5)(aa) of the Reserve Bank of India Act, 1934.
● The penalty was imposed following a statutory inspection of the company’s financial position as
of March 31, 2023.
Securities and Exchange Board of India Launches Dharohar: A Digital Tribute to India’s Securities Market
Legacy
● On January 26, 2025, during the 76th Republic Day celebrations, the Securities and Exchange
Board of India (SEBI) unveiled Dharohar – Milestones in the Indian Securities Market, a
comprehensive digital knowledge repository.

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 Important Monthly Current Affairs Capsule – January 2025

● This initiative chronicles the vibrant history of India’s securities market, spanning over 150 years of
organized trading and highlighting its evolution into a diverse and dynamic ecosystem.
● Dharohar is a state-of-the-art repository designed to serve a broad audience—
students, investors, researchers, journalists, market participants, and the general public.
● Dharohar is freely accessible online at Transform Your Investments with “Traditional Wisdom”
Using “Modern Tools.”
Reserve Bank of India announces steps to inject liquidity in banking system
● The Reserve Bank of India (RBI) announced measures to provide relief to India’s banking system
by injecting liquidity.
● This includes purchasing government securities (G-Secs) worth ₹60,000 crore through open
market operations (OMOs) in three tranches of ₹20,000 crore
● These auctions will take place on 30 January, 13 February, and 20 February.
● Through this initiative, RBI aims to purchase G-Secs from the open market, thereby injecting
liquidity into the system.
● Additionally, the RBI will conduct a 56-day variable rate repo (VRR) auction worth ₹50,000
crore on 7 February and a dollar-rupee sell swap auction of $5 billion for a six-month tenor on 31
January.
What is Open Market Operations?
● Open market operations refer to the selling and purchasing of the treasury bills and government
securities by the central bank of any country in order to regulate money supply in the economy.
Ratnakar Bank Limited & Piramal Finance partner to offer Co-Lending Business
● Ratnakar Bank Limited (RBL Bank), a private sector bank, and Piramal Capital and Housing
Finance (Piramal Finance), a subsidiary of Piramal Enterprises Limited, have announced a
strategic co-lending partnership.
● The collaboration focuses on providing loans to middle- and low-income
borrowers in rural and semi-urban regions.
● This is Piramal Finance’s third co-lending partnership, following similar collaborations with Axis
Bank and the Central Bank of India.
About RBL Bank:
● Founded: 1943
● Headquarters: Mumbai, Maharashtra, India
● Managing Director & CEO: R. Subramaniakumar

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 Important Monthly Current Affairs Capsule – January 2025

● Tagline: “Apno ka Bank”

About Piramal Capital and Housing Finance:
● Headquarters: Mumbai, Maharashtra, India
● MD: Jairam Sridharan
New fixed deposit schemes launched in January 2025: Interest rate of SBI, IDBI Bank, PNB, Bank of
Baroda new FD schemes
● In the face of intense competition for deposits, many big banks such as State Bank of India (SI),
IDBI Bank, Punjab National Bank, Bank of Baroda have introduced new schemes and
enhanced fixed deposit (FD) products, offering higher returns, greater flexibility, and tailored
options for specific customer segments in January 2025.
Bank Schemes and Interest Rates:

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 Important Monthly Current Affairs Capsule – January 2025

Bank Name Scheme Name Key Features Interest Rate

Pre-calculated recurring
State Bank
Har Ghar Lakhpati deposit to accumulate ₹1 Interest rate varies between 7%
of India
RD Scheme lakh or its multiples; to 7.5%
(SBI)
Open to minors

Exclusive for super

State Bank senior citizens (80+
Up to 7.6% for a tenure of 2-3
of India SBI Patrons FD years); Additional 0.10%
years (super senior citizens)
(SBI) interest over senior
citizen rates

303 days: 7% (general citizens);

Punjab
Two new tenures 303 days and 506 days 506 days: 6.7% (general
National
introduced tenure introduced citizens); Senior citizens:
Bank (PNB)
additional 0.50%

Limited-period Utsav FD
IDBI Chiranjeevi- 8.05% for 555 days; Other
scheme for super senior
IDBI Bank Super Senior options: 375 days: 7.90%, 444
citizens; Flexible tenures
Citizen FD days: 8.00%, 700 days: 7.85%
with attractive rates

Allows partial
withdrawals without
closing the entire Highest rate: 7.30% for 400
Bank of
BoB Liquid Fixed deposit; Reduces days (Utsav Deposit Scheme);
Baroda
Deposit premature withdrawal Senior citizens: additional
(BoB)
penalties; Ensures 0.50%
liquidity with competitive
rates
Slice to rebrand as Slice Small Finance Bank
● Slice, a prominent fintech company, will be rebranded as Slice Small Finance Bank Limited (Slice
SFB) following its merger with North East Small Finance Bank (NESFB).
● This merger, which has received key regulatory approvals, including a No Objection Certificate
(NOC) from the Reserve Bank of India (RBI), marks the creation of India’s first fintech bank.

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 Important Monthly Current Affairs Capsule – January 2025

● The finalization of the merger will occur once all regulatory and compliance requirements are met,
paving the way for nationwide expansion.
● In October 2024, Slice received approval from the National Company Law Tribunal (NCLT) for its
merger with NESFB, marking a significant step in its journey toward becoming a fintech bank.
About Slice fintech company:
● Headquarters: Bengaluru, Karnataka, India.
● CEO: Rajan Bajaj
United Payments Interface (UPI) dominates digital payments, sees 83% growth over five years
● The United Payments Interface (UPI) has become the dominant platform in India’s digital payments
ecosystem, capturing 83% of the total payment volume by the end of 2024, a significant rise
from 34% in 2019, according to the Reserve Bank of India (RBI) Payments System Report.
● UPI’s transaction volume surged from 375 crore in 2018 to 17,221 crore by 2024, contributing to a
total digital payments volume of 20,787 crore transactions.
● The value of UPI transactions also saw a remarkable jump from ₹5.86 lakh crore (US$ 67.71
billion) in 2018 to ₹246.83 lakh crore (US$ 2,852 billion) in 2024, reflecting an
extraordinary compounded annual growth rate (CAGR) of 89.3% in volume and 86.5% in value
over five years.
● Simultaneously, the share of other payment systems such as Real-Time Gross Settlement
(RTGS), National Electronic Funds Transfer (NEFT), Immediate Payment Service (IMPS),
and card-based payments dropped to just 17%.
About UPI:
● Established Year: 2016
● Developed by: National Payments Corporation of India (NPCI)
Reserve Bank of India supersedes board of Aviom India Housing Finance due to governance concerns
● The Reserve Bank of India (RBI) has superseded the board of Aviom India Housing Finance
Private Limited due to the company’s inability to meet payment obligations and concerns
about governance practices.
● As part of its intervention, the RBI has appointed Ram Kumar, a former CGM of Punjab National
Bank, as the Administrator of the New Delhi-based company.
● The RBI also indicated that it would soon initiate bankruptcy proceedings against the housing
finance company (HFC).
● This decision comes following a recommendation from the National Housing Bank (NHB).

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 Important Monthly Current Affairs Capsule – January 2025

About Aviom India Housing Finance:

● Headquarters: New Delhi, India
● Founded: 2008
Reserve Bank of India Tightens Vigil on peer-to-peer (P2P) Lending Platforms After Revising Guidelines
● The Reserve Bank of India (RBI) has increased its scrutiny of peer-to-peer (P2P) lending
platforms, sending an 18-point questionnaire to 8 prominent financial technology companies in the
P2P space, including LiquiLoans, Monexo, i2iFunding, and IndiaP2P.
● This follows the RBI’s revision of P2P lending norms in August 2024.
What Is Peer-to-Peer (P2P) Lending?
● Peer-to-peer (P2P) lending makes it possible for individuals to obtain loans directly from other
individuals, without going through a bank or other financial institution.
● P2P lending is also known as “social lending” or “crowd lending”.
Residential Mortgage-Backed Securitisation Development Company Limited Receives Reserve Bank of
India Certificate of Registration to Commence Operations
● RMBS Development Company Limited (RDCL) received the Certificate of Registration (CoR) from
the Reserve Bank of India (RBI) on January 23, 2025, enabling it to commence operations.
● National Housing Bank (NHB), a statutory body under the Government of India, established RDCL
as its single largest shareholder, supported by a diverse mix of investors, including Banks, Housing
Finance Companies (HFCs), Non-Banking Financial Companies (NBFCs), and Insurance
Companies.
Investment Announcements Soar 39% in FY25: State Bank of India Report
● The total investment announcements stood at ₹32.01 lakh crore in the nine months this fiscal
(FY25), marking a 39% increase from ₹23 lakh crore in the same period last fiscal, reflecting a
positive investment outlook, the government stated on January 26, 2025, citing a recent report by
the State Bank of India (SBI).
● The private sector played a dominant role, contributing nearly 70% of these announcements in
FY25, compared to 56% in FY24, reflecting strong corporate confidence.
● As of March 2024, the gross block of Indian corporates reached ₹106.50 lakh crore, up
from ₹73.94 lakh crore in March 2020, with an annual average addition of more than ₹8 lakh
crore over the last five years.
Fintech firm Cred joins Indian central bank’s digital currency project
● One MobiKwik Systems and Cred have initiated their individual e-rupee pilot programs in

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 Important Monthly Current Affairs Capsule – January 2025

partnership with the Reserve Bank of India (RBI).

● This collaboration makes them the first fintech platforms to join hands with the RBI for
implementing the Central Bank Digital Currency (CBDC).
● With this move, Cred and MobiKwik became the first fintech platforms to partner with the RBI on
the central bank digital currency.
● Additionally, Yes Bank will be the first sponsor bank to enable the CBDC issuance for both these
third-party application providers.
● New users need to complete a video KYC procedure to access this feature. The daily transaction
limit is ₹50,000, with a per transaction limit of ₹10,000, and the wallet supports denominations
ranging from ₹0.50 to ₹500.
CBDC and RBI’s Initiative
● The Central Bank Digital Currency (CBDC), also known as the Digital Rupee or e₹, is officially
defined by the RBI as a digital legal tender issued by a central bank.
● It is equivalent to sovereign currency and can be exchanged one-to-one with physical currency.
● Initially, the RBI restricted digital currency handling to banks, but in April 2024, it
expanded eligibility to non-banking entities.
● Recognized for its innovation, MobiKwik was included in the RBI’s CBDC project and swiftly
launched the service.
About CRED:
● Headquarters: Bengaluru, Karnataka, India
● Founded: 2018
● Founder & CEO: Kunal Shah
About MobiKwik:
● Headquarters: Gurgaon, Haryana, India
● Founded: 2009
● Co-Founders: Bipin Preet Singh (CEO) & Upasana Taku (COO)
National Payments Corporation of India Announces Stricter Compliance for Unified Payments Interface
Transactions, Effective from 1 February, 2025
● Starting 1 February 2025, all Unified Payments Interface (UPI) transactions containing special
characters in transaction IDs will be rejected by the central system, as per a recent directive issued
by the National Payments Corporation of India (NPCI).
● This decision aims to enhance technical standardization and ensure uniformity in UPI operations,

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 Important Monthly Current Affairs Capsule – January 2025

reinforcing its role as a crucial pillar of India’s digital payment ecosystem.

About NPCI:
● Headquarters: Mumbai, Maharashtra, India
● Founded: 2008
● CEO: Dilip Asbe
● Key Initiatives: Unified Payments Interface (UPI), Immediate Payment Service (IMPS), RuPay
(domestic card payment network), Bharat Bill Payment System (BBPS), Aadhaar Enabled
Payment System (AePS)
Hongkong and Shanghai Banking Corporation (HSBC) launches TravelOne Credit Card in
India
● HSBC has introduced the TravelOne Credit Card, designed to cater to the needs of frequent
travelers.
● The card offers instant reward redemptions across multiple airline and hotel partners, allowing
users to convert points into air miles and hotel stays via the HSBC mobile app.
About HSBC:
● Founded: 1865
● Headquarters: London, United Kingdom
● Group Chief Executive: Noel Quinn
Birla Institute of Management Technology (BIMTECH) launches blockchain-based currency BIMCOIN
● Birla Institute of Management Technology (BIMTECH) has launched BIMCOIN, a blockchain-
based digital currency designed specifically for its ecosystem.
● This initiative marks a significant step in fintech innovation within the education sector, making
BIMTECH the first business management institute in India to introduce such a platform, following
IIT Madras.
About BIMTECH:
● The Birla Institute of Management Technology (BIMTECH), is a premier business school located
in Greater Noida, Uttar Pradesh, India.
● Established in 1988 under the aegis of the Birla Academy of Art and Culture
Narayana Health launches ‘Arya’ with immediate coverage up to ₹1 crore protection
● After launching its first insurance product, ‘Aditi,’ in July 2024, Narayana Health Insurance has now
introduced ‘Arya,’ a high-coverage health insurance plan aimed at addressing gaps in the
healthcare industry.

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 Important Monthly Current Affairs Capsule – January 2025

● The plan offers hospitalization coverage ranging from ₹25 lakh to ₹1 crore, with flexible top-up
options starting at ₹25,000.
● Through this initiative, the company aims to provide comprehensive, affordable, and high-quality
healthcare coverage, integrating preventive care, hospitalization, and digital health services.
About Narayana Health Insurance:
● Headquarters: Bengaluru, Karnataka, India
● CEO: Sheela Anand
Karnataka Bank wins top honours in 6 categories at Indian Banks’ Association Banking Technology
Awards
● Karnataka Bank won 6 prestigious awards at the 20th Annual Banking Technology Conference,
Expo & Citations, 2024, organized by the Indian Banks’ Association.
The awards are as follows:
● Best Tech Talent & Organisation – Runner Up
● Best IT Risk Management – Runner Up
● Best Technology Bank – Runner Up
● Best Fintech & DPI Adoption – Runner Up
● Best Digital Sales, Payments & Engagement – Special Mention
● Best AI & ML Adoption – Special Mention
About Karnataka Bank:
● Founded: 1924
● Headquarters: Mangaluru, Karnataka, India
● Managing Director & CEO: Srikrishnan Hari Hara Sarma
● Tagline: “Your Family Bank, Across India”
Finvasia, YES Bank Introduce Jumpp Super App for Digital Finance

● Jumpp is a super app that combines banking, payments, savings, investing, and borrowing into
one platform.
● It allows users to consolidate their financial accounts through account aggregation and
enables instant YES Bank savings account openings.
HDFC and Startup India Launch ‘Manufacturing Accelerator Program’ to Boost Innovation in the Sector

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 Important Monthly Current Affairs Capsule – January 2025

● HDFC, in collaboration with Startup India’s Bharat Startup Grand Challenge, has launched
the Manufacturing Accelerator Program to foster innovation and drive growth in India’s
manufacturing sector.
● The program supports startups addressing critical manufacturing challenges using cutting-edge
solutions.
● Applications are open until 15 February.
● Collaborative Effort:
o A joint initiative by HDFC Bank, DPIIT (Department for Promotion of Industry and Internal
Trade), and riidl Somaiya Vidyavihar University.
About HDFC Bank:
● Founded: 1994
● Headquarters: Mumbai, Maharashtra, India
● Managing Director & CEO: Sashidhar Jagdishan
● Tagline: "We understand your world"

Reserve Bank of India makes private placement of non-convertible debentures regulations for housing
finance companies on par with non-banking financial companies
● The Reserve Bank of India (RBI) has announced that housing finance companies (HFCs) must
now follow the same private placement regulations for non-convertible debentures (NCDs) as
non-banking financial companies (NBFCs).
● The revised guidelines apply to all new private placements of NCDs with maturities exceeding
one year by HFCs.
● Effective immediately, HFCs must comply with NBFC-style regulations for NCD issuances.
NBFC Guidelines for Private Placement of NCDs
HFCs must now adhere to the following NBFC norms:
1. Board-Approved Policy for Resource Planning
● HFCs must establish a board-approved policy for resource planning.
● This policy must cover planning horizon and frequency of private placements.
2. Minimum Subscription Amount
● Each investor must subscribe to at least ₹20,000.
3. Segmentation of Private Placement of NCDs
Private placements will be categorized into two segments:

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 Important Monthly Current Affairs Capsule – January 2025

(i) NCDs with a maximum subscription of less than ₹1 crore per investor.
o Limited to 200 subscribers per financial year.
o Must be fully secured.
(ii) NCDs with a minimum subscription of ₹1 crore and above per investor.

Reserve Bank of India Reports 465.33 Digital Payments Index for September 2024, Up from 445.5 in
March 2024
● Digital payments across the country registered an 11.11% year-on-year rise as of September
2024, according to RBI's index measuring online transaction adoption.
● RBI's Digital Payments Index (RBI-DPI) for September 2024 stands at 465.33 as against 445.5
for March 2024, the Reserve Bank stated in a statement on January 29, 2025.
● Key Growth Drivers: The rise in RBI-DPI was driven by improvements in payment infrastructure
and payment performance across the country.
● Index Background: RBI introduced the composite RBI-DPI in March 2018 to track the digitization
of payments in India.
● Five Parameters of RBI-DPI:
⮚ Payment Enablers – 25% weightage
⮚ Payment Infrastructure (Demand-side factors) – 10%
⮚ Payment Infrastructure (Supply-side factors) – 15%
⮚ Payment Performance – 45%
⮚ Consumer Centricity – 5%
What is DPI?
● DPI in banking stands for Digital Payments Index, which is a tool used by the Reserve Bank of
India (RBI) to measure the extent of digital payments in India.
● The index is used to track trends in digital payments in the financial system.
● The RBI-DPI is published semi-annually.
Government unveils new Mutual Credit Guarantee Scheme to support Micro, Small and Medium
Enterprises growth
● The Government of India has approved the Mutual Credit Guarantee Scheme for MSMEs
(MCGS-MSME), fulfilling a key announcement from the Union Budget 2024-25.

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 Important Monthly Current Affairs Capsule – January 2025

● The scheme, facilitated by the National Credit Guarantee Trustee Company Limited (NCGTC),
provides 60% guarantee coverage to Member Lending Institutions (MLIs) for credit facilities up
to ₹100 crore sanctioned to eligible MSMEs.
● Eligibility:
o Borrower: MSMEs with a valid Udyam Registration Number.
o Loan Amount: Guaranteed up to ₹100 crore (project costs can be higher).
o Equipment Cost: Minimum 75% of the project cost.

NATIONAL NEWS
MeitY Plans to Double Subsidy for Semiconductor Startups Under Revised DLI Scheme
● The Ministry of Electronics and IT (MeitY) is proposing a significant revamp to the Design-Linked
Incentive (DLI) scheme, a key pillar of India's Rs 76,000-crore semiconductor incentive
programme.
● The proposed enhancements aim to boost the scheme’s effectiveness by addressing funding
challenges faced by startups and attracting larger players to the ecosystem.
● Proposed Revisions to the DLI Scheme
● Increased Startup Subsidies
● Current Subsidy: Rs 15 crore.

Income Tax Relief: CBDT Extends Vivad Se Vishwas Scheme Deadline to January 31, 2025
● The Central Board of Direct Taxes (CBDT) has extended the Vivad Se Vishwas Scheme 2024
deadline by one month, moving it from December 31, 2024, to January 31, 2025.
● This extension gives taxpayers more time to resolve disputes at reduced tax rates, avoiding an
additional 10% tax penalty.
● Previous Deadline: December 31, 2024.
● Extended Deadline: January 31, 2025.

Pharma Industry Faces Crisis as Revised Schedule M GMP Norms Take Effect in January 2025
● The revised Schedule M guidelines for Good Manufacturing Practices (GMP), effective January
2025, have put significant pressure on India's pharmaceutical industry, especially on Micro,
Small, and Medium Enterprises (MSMEs).

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 Important Monthly Current Affairs Capsule – January 2025

● With the deadline fast approaching and no extension in sight, many companies risk non-
compliance and potential shutdowns.
● Out of 10,500 drug manufacturing units, only 2,000 units comply with the WHO’s GMP norms.

Wealth Disparities Among India’s Chief Ministers: ADR Report Analysis

● The Association for Democratic Reforms (ADR), along with the National Election Watch (NEW),
has released a report analyzing the self-declared affidavits of India’s 31 Chief Ministers.
● The data highlights significant wealth disparities and provides insights into criminal records,
gender representation, and financial trends.
● Wealthiest CMs
o N. Chandrababu Naidu (Andhra Pradesh): ₹931 crore.
o Pema Khandu (Arunachal Pradesh): ₹332 crore.
o Siddaramaiah (Karnataka): ₹51 crore.
● Poorest CMs
o Mamata Banerjee (West Bengal): ₹15 lakh.
o Omar Abdullah (Jammu and Kashmir): ₹55 lakh.
o Pinarayi Vijayan (Kerala): ₹1.18 crore.

MNRE Introduces ₹100 Crore Payment Security Fund for Renewable Energy Installations
● The Ministry of New & Renewable Energy (MNRE) has unveiled new guidelines establishing a
₹100 crore Payment Security Fund (PSM) to support the Renewable Energy Service Company
(RESCO) and Utility-Led or State-Led Aggregation (ULA) models under the PM Surya Ghar: Muft
Bijli Yojana.
● This fund aims to de-risk investments and ensure timely payments for rooftop solar (RTS)
installations under these models.
● Objective: To de-risk investments in RESCO-based models for rooftop solar systems by
providing timely payments.

CCI Conducts Market Study on Renewable Energy Competition Across BRICS Nations
● The Competition Commission of India (CCI) is conducting a study to analyze competition issues
in the renewable energy sector across BRICS nations.

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 Important Monthly Current Affairs Capsule – January 2025

● The study is being carried out under the BRICS framework, as stated by CCI Chairperson
Ravneet Kaur.
● The CCI is also conducting a market study on Artificial Intelligence (AI) and its impact on
competition.

India to Host First-ever World Audio Visual Entertainment Summit (WAVES) in 2024
● India will host the World Audio Visual Entertainment Summit (WAVES) for the first time in
February 2025.
● Prime Minister Narendra Modi announced this during his ‘Mann ki Baat’ radio address
● Event Overview:
o Name: World Audio Visual Entertainment Summit (WAVES)
o Dates: February 5-9, 2024
o Venue: New Delhi, India
o Purpose: To showcase India’s creative talent and establish the country as a global hub for
content creation and creative collaboration.

Delay in Subsidy Disbursal under PM Surya Ghar Muft Bijli Yojana Despite Installation Push
● The government is focusing on increasing the number of installations under the newly launched
PM Surya Ghar Muft Bijli Yojana, the disbursal of subsidy to the households has somewhat been
delayed.
● Launched on February 13, 2024, with the goal of installing rooftop solar plants in 1 crore
households by 2026-27.
● Financial Outlay: ₹75,021 crore allocated, with ₹13,175.33 crore earmarked for FY24-25.
● Energy Generation Goal: Expected to generate 1 lakh crore units of electricity and reduce CO2
emissions by 72 crore tonnes.
Union Home Ministry Amends Prison Manual to Eliminate Caste-Based Discrimination
● The Union Home Ministry has amended the Model Prison Manual, 2016, and the Model Prisons
and Correctional Services Act, 2023, to address caste-based discrimination in prisons.
● Supreme Court Ruling: The changes follow the October 3, 2024 order from the Supreme Court,
which highlighted concerns about caste-based discrimination in prisons.

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 Important Monthly Current Affairs Capsule – January 2025

● Key Provision: Prison authorities are now mandated to ensure there is no discrimination,
classification, or segregation of prisoners based on their caste, particularly in assigning duties
and work.

Air India Launches Wi-Fi Connectivity on Domestic and International Flights

● Tata group airline Air India has rolled out Wi-Fi internet connectivity services on board domestic
and international flights operated by select aircraft in its fleet.
● With the rollout of this service, Air India has become the first Indian airline to offer internet
connectivity on domestic flights.
● Wi-Fi on Domestic Flights: Air India becomes the first Indian airline to offer internet connectivity
on domestic flights.
● Introductory Offer: Free Wi-Fi service is available on select domestic flights for a limited period,
with no specified end date.
Centre Extends Special Subsidy on Di-Ammonium Phosphate (DAP) Fertilizer
● The Centre has extended the special subsidy of ₹3,500 per tonne on Di-Ammonium Phosphate
(DAP) for another year, from January 1, 2025, to December 31, 2025.
● This move aims to prevent a rise in the farmgate price of DAP, the second most-consumed
fertilizer in India, amid pressure from the depreciating rupee against the US dollar.
● Maximum Retail Price (MRP) Control: Despite the decontrol of non-urea fertilizers on paper, the
government has effectively frozen the MRP of DAP and other non-urea fertilizers, keeping them
below the actual cost of importation.

EPFO to Launch New Software System EPFO 3.0 by June 2025

● Union Labour Minister Mansukh Mandaviya announced that the Employees Provident Fund
Organisation (EPFO) will introduce its revamped software system, EPFO 3.0, by June 2025.
● The initiative aims to modernize the organisation's operations, enhance user experience, and
bring it on par with India’s advanced banking systems.

PM Modi Inaugurates Key Infrastructure Projects in Delhi, Targets Opposition

● Prime Minister Narendra Modi inaugurated a series of transformative infrastructure and
redevelopment projects in Delhi.

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 Important Monthly Current Affairs Capsule – January 2025

● The initiatives focus on urban renewal, affordable housing, and educational advancements,
emphasizing the government's commitment to improving the Ease of Living for Delhi residents.

Central Government Likely to Approve Three New Greenfield Airports

● The Central Government is nearing approval for the construction of three new greenfield airports
in Parandur (Tamil Nadu), Kota (Rajasthan), and Puri (Odisha).
● These projects, which are at the second stage of approval under the Greenfield Airports (GFA)
Policy, will significantly enhance regional connectivity and economic development.
Prime Minister Narendra Modi to Inaugurate Grameen Bharat Mahotsav 2025
● Prime Minister Narendra Modi is set to inaugurate the Grameen Bharat Mahotsav 2025 at Bharat
Mandapam, New Delhi.
● The event celebrates rural India’s entrepreneurial spirit and cultural legacy under the theme:
"Building a Resilient Rural India for a Viksit Bharat 2047"
ां बढ़े, तो द़ेश बढ़े" (As villages grow, the nation prospers).
with the motto: "ग व

The Union Cabinet has approved the continuation of Pradhan Mantri Fasal Bima Yojana and Restructured
Weather Based Crop Insurance Scheme till 2025-26
● Union Minister for Rural Development, Agriculture, and Farmers Welfare, Shri Shivraj Singh
Chouhan, announced three major Cabinet decisions aimed at supporting Indian farmers,
ensuring their prosperity, and advancing the vision of a developed India under Prime Minister
Shri Narendra Modi's leadership.
● Continuation till FY 2025-26:
o Budget allocation: ₹69,515.71 crore.
o Goal: Provide risk coverage to farmers against natural calamities.

Draft Rules for the Digital Personal Data Protection (DPDP) Act Released
● The Ministry of Electronics and Information Technology (MeitY) unveiled the Digital Personal
Data Protection (DPDP) Act draft rules.
● These rules, open for public feedback on the MyGov portal until February 18, 2025, aim to
provide clear guidelines for implementing the Act passed in August 2023.

President Droupadi Murmu Praises NIMHANS for Integrating Yoga and Ayurveda in Mental Health Care

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 Important Monthly Current Affairs Capsule – January 2025

● During the Golden Jubilee celebrations of the National Institute of Mental Health and
Neurosciences (NIMHANS) in Bengaluru, Karnataka, President Droupadi Murmu lauded the
institution for its innovative approach to integrating Yoga and Ayurveda into the treatment of
mental health.
● President Murmu praised NIMHANS for its integrative medicine services, emphasizing how
combining modern healthcare systems with traditional methods such as Yoga and Ayurveda has
proven effective in addressing both mental and physical distress.
“Panchayat Se Parliament 2.0” Initiative: Empowering Women Leaders in Governance
● The National Commission for Women (NCW), in collaboration with the Lok Sabha Secretariat
and the Ministry of Tribal Affairs, inaugurated ‘Panchayat Se Parliament 2.0’ at the Central Hall of
Samvidhan Sadan.
● This initiative commemorates the 150th birth anniversary of Bhagwan Birsa Munda, a revered
tribal leader and freedom fighter.

Prime Minister Narendra Modi Inaugurates Delhi-Meerut RRTS: A Game-Changer for Connectivity
● Prime Minister Narendra Modi recently inaugurated the Regional Rapid Transit System (RRTS)
connecting Delhi and Meerut, drastically reducing travel time to just 40 minutes.
● The RRTS is seen as a game-changer for Delhi-Meerut connectivity, marking a significant leap in
regional travel and infrastructure improvement.
Prime Minister Narendra Modi Advocates for Cooperatives and Rural Development to Boost Farmers'
Income
● Prime Minister Narendra Modi called for establishing five to six more cooperatives like Amul to
ensure better prices for farmers' produce and enhance their income.
● He emphasized the success of Amul and its model of ensuring that 80% of every rupee spent by
consumers reaches dairy farmers.
Prime Minister Narendra Modi Inaugurates Major Railway Infrastructure Projects Across India
● Prime Minister Shri Narendra Modi inaugurated and laid the foundation stone of various railway
projects, via video conferencing.
● The Prime Minister inaugurated the new Jammu Railway Division.
● He also laid the foundation stone of Rayagada Railway Division Building of East Coast Railway
and inaugurated the Charlapalli New Terminal Station in Telangana.
● Jammu Railway Division: Aimed at boosting connectivity in Jammu and Kashmir.

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 Important Monthly Current Affairs Capsule – January 2025

● Rayagada Railway Division Building: Part of the East Coast Railway to strengthen infrastructure
in Odisha.

Aero India 2025 to be held in Bengaluru:

● The 15th edition of Aero India, Asia's largest aerospace and defence exhibition, will take place
from February 10 to 14, 2025, at the Air Force Station, Yelahanka, Bengaluru, Karnataka.
● With the theme “The Runway to a Billion Opportunities”, the event aims to enhance partnerships
between Indian and global firms, accelerate indigenization in the defence sector, and showcase
cutting-edge technologies.
● Venue: Air Force Station, Yelahanka, Bengaluru
● Theme: “The Runway to a Billion Opportunities”

Union Home Minister to Launch BHARATPOL Portal: A Leap in Law Enforcement Collaboration
● Union Home Minister and Minister of Cooperation, Amit Shah, is set to launch the BHARATPOL
portal, developed by the Central Bureau of Investigation (CBI).
● The event will take place at Bharat Mandapam in New Delhi.
● The portal promises to enhance real-time information sharing among law enforcement agencies
(LEAs) across India and internationally, enabling quicker responses to transnational crimes.
● Purpose: To streamline communication and facilitate international police assistance for criminal
investigations.
Drone Technology Lab and Centre of Excellence Launched at DCR, Puttur
● The Directorate of Cashew Research (DCR) in Puttur, Dakshina Kannada, has recently launched
a Drone Technology Lab and a Centre of Excellence for Profiling and Bioactive Components.
● These initiatives aim to foster innovation in cashew research and promote sustainable
agricultural practices.
● The lab is designed to drive innovation in Unmanned Aerial Vehicle (UAV) applications,
particularly for plantation crops.
Prime Minister Narendra Modi to launch projects worth Rs 2L crore in Andhra
● Prime Minister Narendra Modi is set to visit Andhra Pradesh, marking his first trip since the TDP-
led NDA government took office in the state.
● His visit will emphasize sustainable growth and infrastructure development, particularly focusing
on North Andhra Pradesh.

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 Important Monthly Current Affairs Capsule – January 2025

● NTPC Green Hydrogen Hub

o Location: Pudimadaka, Atchutapuram mandal, Anakapalle district.
o Investment: ₹1.85 lakh crore.

Union Minister Dr. Mansukh Mandaviya Launches Multilingual Functionality on e-Shram Portal
● Union Minister of Labour & Employment and Youth Affairs & Sports, Dr. Mansukh Mandaviya,
launched the multilingual functionality of the e-Shram portal in New Delhi.
● This upgrade, part of the government’s vision to make e-Shram a ‘One-Stop-Solution’, will now
support 22 Scheduled Languages, broadening its accessibility across India.

18th Pravasi Bharatiya Divas (PBD) Celebrations Kick Off in Bhubaneswar

● The 18th Pravasi Bharatiya Divas (PBD) commenced on january 8th, in Bhubaneswar, Odisha,
with around 6,000 non-resident Indians (NRIs) participating.
● These attendees include business leaders, academicians, economists, and philosophers from 75
countries, marking a significant occasion for New Delhi to strengthen its relationship with the
global Indian community.
Rs 22,237 Crore Unclaimed with Life Insurers: Challenges and Efforts to Address the Issue
● At the beginning of FY24, Rs 22,237 crore lay unclaimed with life insurers, as reported by the
Insurance Regulatory and Development Authority of India (Irdai).
● A six-month initiative (June-November 2023) reduced this figure by Rs 1,018 crore, underscoring
the need for better estate planning and nominee management, particularly for non-relatives.

India to Explore Two More Lithium Blocks in Jammu & Kashmir

● The Indian government is set to begin lithium exploration in two additional blocks within the
federally administered region of Jammu and Kashmir, according to officials familiar with the
development.
● Location and Assessment Timeline:
o The two new blocks have been identified for lithium exploration in Jammu and Kashmir.
o Estimated reserves for these blocks will be determined by October 2025.
Prime Minister Shri Narendra Modi Launches Pravasi Bharatiya Express to Connect Diaspora with Indian
Heritage

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 Important Monthly Current Affairs Capsule – January 2025

● Prime Minister Shri Narendra Modi flagged off the Pravasi Bharatiya Express, a state-of-the-art
tourist train designed under the Pravasi Teerth Darshan Yojana (PTDY).
● This initiative aims to strengthen the bond between the Indian diaspora and India’s rich cultural
and religious heritage.
● The launch marks the 110th anniversary of Mahatma Gandhi's return to India from South Africa
in 1915.

Viksit Bharat Young Leaders Dialogue 2025: A Transformative Celebration of Youth Leadership
● As India marches towards its centenary of Independence in 2047, the nation is investing in its
youth as the architects of a Viksit Bharat (Developed India).
● Inspired by Prime Minister Narendra Modi’s vision of engaging one lakh youth in politics without
prior political backgrounds, the National Youth Festival has transformed into the Viksit Bharat
Young Leaders Dialogue 2025.
● This initiative aims to empower youth, cultivate leadership, and generate actionable ideas that
align with India's vision for development.

Prime Minister Narendra Modi laid Foundation Stone for India’s First Green Hydrogen Hub in Andhra
Pradesh
● Prime Minister Narendra Modi laid the foundation stone for a Green Hydrogen Hub project at
Pudimadaka near Visakhapatnam, Andhra Pradesh, marking a major milestone under the
National Green Hydrogen Mission.
● The event, conducted virtually from Visakhapatnam, highlights India’s push towards renewable
energy and sustainable development.

India Unveils GenomeIndia Database: A Landmark in Biotechnology Research

● India has completed the GenomeIndia Project, a groundbreaking initiative that sequenced the
genomes of 10,000 Indians from 83 population groups, representing about 2% of the country's
4,600 population groups.
● This data is a valuable resource for global researchers to explore disease mechanisms, drug
therapies, and genetic diversity.
PM Modi Likely To Inaugurate Rs 2,400 Crore Z-Morh Tunnel On Srinagar-Leh Highway In Kashmir
● Prime Minister Narendra Modi is set to inaugurate the Rs 2,400 crore Z-Morh Tunnel.

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 Important Monthly Current Affairs Capsule – January 2025

● This 6.5 km tunnel on the Srinagar-Leh National Highway is a key infrastructure project that will
ensure year-round accessibility to the Ladakh region.
The tunnel is vital for national defence and connectivity to Ladakh, providing uninterrupted
road access to the region.
It will help strengthen defence logistics and enable smoother military mobility in the Ladakh
region, especially in harsh winter months when roads are often closed.

Book on Sri Parthasarathy Perumal Temple Released as Part of The Hindu Group’s Shrine Series
● Nirmala Lakshman, Chairperson of The Hindu Group Publishing Private Limited, released a new
book titled "Thiruvallikeni – Divine Abode of Lord Parthasarathy" as part of The Hindu Group’s
Shrine Series.
● The book delves into the rich history and spiritual significance of the Sri Parthasarathy Perumal
Temple in Triplicane, Chennai.
Union Minister Piyush Goyal Launches Bharat Cleantech Manufacturing Platform
● Union Minister of Commerce & Industry Shri Piyush Goyal unveiled the Bharat Cleantech
Manufacturing Platform at the Bharat Climate Forum 2025 in New Delhi.
● This initiative aims to strengthen India’s value chains in the solar, wind, hydrogen, and battery
storage sectors, marking a significant step toward India’s sustainability goals.

MP, Karnataka, Maharashtra among states seeing higher women voter turnout
● Andhra Pradesh, Assam, Chhattisgarh, Karnataka, Madhya Pradesh, Maharashtra, and Odisha
reported increasing women voter turnout ratios in 2024, primarily due to implementing women-
centric schemes.
● States with Declined Turnout:
● Despite the positive national trend, women's voter turnout declined in Uttar Pradesh, Punjab,
Rajasthan, West Bengal, Gujarat, and Haryana.

Union Minister Ashwini Vaishnaw Announces Amrit Bharat Version 2.0 Trains and Updates on Key Rail
Projects
● Union Railway Minister Ashwini Vaishnaw unveiled the upcoming Amrit Bharat Version 2.0 trains,
which will focus on upgraded passenger amenities.
● Manufacturing Timeline: Fifty trains will be produced within two years.

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 Important Monthly Current Affairs Capsule – January 2025

● Production Facilities: Integral Coach Factory (ICF) in Chennai and Rail Coach Factory (RCF) in
Kapurtala, Punjab, will manufacture these trainsets.
● Target Demographic: Designed for low-income and lower-middle-income families, providing
affordable long-distance travel options.

India to Participate in AI and FDI Session at WEF 2025 in Davos

● India will take part in a session on Artificial Intelligence (AI) and Foreign Direct Investment (FDI)
at the World Economic Forum's (WEF) 55th annual meeting, scheduled from January 20-24,
2025, in Davos-Klosters, Switzerland.
● The session, titled AI and FDI: Challenges and Opportunities for Sustainable Investment , is co-
organized by Invest India and WAIPA and supported by the World Investment for Development
Alliance (WIDA).

150th Year Celebration of India Meteorological Department (IMD)

● The India Meteorological Department (IMD) is celebrating its 150th anniversary as the principal
government agency for meteorology and related subjects.
● A series of events will be organized to mark this significant milestone, starting from 15th January
2024, with the grand celebration on 15th January 2025 at Bharat Mandapam, New Delhi.

Indian Railways to Boost Freight Movement Amid Coal Logistics Push

● Indian Railways is intensifying its efforts to enhance freight movement, focusing on coal logistics,
the largest revenue contributor.
● Coal loading has recorded an 8–9% increase in volume and value terms, while other freight
categories such as cement, raw materials, and imported coal have experienced a decline.

India to Transition 1,000 Shipping Vessels to Renewable Energy in Five Years

● India has unveiled an ambitious plan to power its coastal and inland waterways shipping fleet
with renewable energy, starting with 1,000 vessels over the next five years.
● The initiative, announced by Union Ports and Shipping Minister Sarbananda Sonowal at the 2nd
Inland Waterways Development Council meet in Assam, aligns with the country's goal of
achieving net zero carbon emissions by 2070.

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 Important Monthly Current Affairs Capsule – January 2025

Coal India Ltd Eyes Argentina for Lithium Brine Assets Amid Critical Minerals Push
● Coal India Ltd (CIL), the state-owned Maharatna company, is making strides in its strategic
diversification into critical minerals, with a key focus on lithium brine assets in Argentina.
● Recognizing the significance of minerals like lithium (Li), nickel (Ni), and cobalt (Co) for clean
energy technologies, the company has initiated exploration in Argentina, Australia, and Chile.

PM Modi's Call to Action: Empowering Youth for a Developed Bharat by 2047

● At the Viksit Bharat Young Leaders Dialogue 2025, Prime Minister Narendra Modi inspired the
nation's youth to take ownership of the vision for a "Viksit Bharat" (Developed India).
● Highlighting the role of Yuva Shakti (youth power), the PM expressed unwavering belief in their
ability to shape India's future.

Bima Sugam: Insurance Industry's One-Stop Digital Platform Launch Delayed

● The much-anticipated Bima Sugam, a transformative project spearheaded by the Insurance
Regulatory and Development Authority of India (IRDAI) to create a one-stop digital platform for
insurance, is now expected to launch mid-year 2025,
● 2022: IRDAI initially proposed the concept of Bima Sugam.
● 2024 Announcement: IRDAI Chairman Debasish Panda declared the platform's first phase would
launch in April 2025.
● Current Update: The first phase is now projected for a mid-2025 rollout, as per a source close to
the project.
Government's Potential Savings on Unimplemented Schemes in FY25 Budget
● The government is poised to save over Rs 70,000 crore in capital and revenue expenditure that
was allocated for new schemes in the FY25 Budget, which are yet to be implemented.
● Employment-linked Incentive (ELI) Schemes:The FY25 Budget announced three ELI schemes
with an annual allocation of Rs 10,000 crore aimed at creating employment opportunities.
Kashi Tamil Sangamam To Be Held From 15-24 February 2025 With Theme Centred Around Maharishi
Agastya
● The Kashi Tamil Sangamam 2025 Event will be held on February 15-24, 2025.
● Theme: The 3rd edition of the Kashi Tamil Sangamam will focus on Rishi Agastya, emphasizing
the ancient connection between Tamil Nadu and Varanasi (Kashi).
● Objective: Celebrating the civilizational and cultural bond between Kashi and Tamil Nadu.

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 Important Monthly Current Affairs Capsule – January 2025

● This programme is part of the Ek Bharat Shreshtha Bharat initiative, fostering connections
between diverse cultural traditions in India.

Union Minister for Commerce and Industry Shri Piyush Goyal launches National Turmeric Board
● Union Minister of Commerce & Industry, Shri Piyush Goyal inaugurated the National Turmeric
Board in New Delhi.
● Shri Palle Ganga Reddy was announced as the first Chairperson of the Board.
● The Board's headquarters has been established in Nizamabad, a major turmeric-producing
region in India.
● Known as the Golden Spice, turmeric is vital for the economy, particularly in the 20 states that
cultivate it, including Maharashtra, Tamil Nadu, Andhra Pradesh, Telangana, Madhya Pradesh,
and Meghalaya.
● India is the largest producer, consumer, and exporter of turmeric globally, holding over 62% of
the world trade.
● During 2023-24, India exported 1.62 lakh tonnes of turmeric and turmeric products worth 226.5
million USD.

PM Modi releases Commemorative coin, 'Vision 2047' document on 150th foundation day of India
Meteorological Department (IMD)
● The India Meteorological Department (IMD), under the Ministry of Earth Sciences, is celebrating
a historic milestone of 150 years of dedicated service to the nation.
● Established in 1875, IMD has significantly contributed to weather forecasting, climate monitoring,
disaster management, agriculture, aviation, and public safety.
● The department has been instrumental in advancing meteorology and allied sciences,
safeguarding lives, supporting socio-economic development, and fostering scientific research for
the nation's benefit.
● Prime Minister Narendra Modi graced the 150th Foundation Day celebrations of IMD on January
14, 2025, held at Bharat Mandapam, New Delhi.
● During this event, the Prime Minister acknowledged IMD's remarkable 150-year journey as a
symbol of India's progress in science and technology.

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 Important Monthly Current Affairs Capsule – January 2025

● Launch of Mission Mausam: This initiative aims to transform India into a Weather-ready and
Climate-smart nation, employing advanced technologies like high-resolution atmospheric
observations, radars, satellites, and high-performance computing.
● Commemorative Stamp and Coin: The Prime Minister unveiled a commemorative postage stamp
and coin to mark the occasion.
● IMD Vision-2047: A roadmap was released to ensure India's weather resilience and climate
change adaptation, looking forward to the nation's centenary celebrations of independence in
2047.
● Workshops and Activities: Several workshops showcased IMDs contributions to making India
more climate-resilient and emphasized the departments critical role in weather and climate
services.
India Energy Week (IEW) 2025, the governments annual flagship oil and gas sector conference, is set to
take place in New Delhi from February 11-14, 2025.
● India Energy Week (IEW) 2025, the governments flagship oil and gas sector conference, will be
held in New Delhi from February 11-14, 2025.
● The event will feature participation from over 20 energy ministers and deputy ministers,
representing advanced economies, major energy producers, and the Global South.
● Heads of leading international organizations and 90 CEOs from Fortune 500 energy giants,
including BP, TotalEnergies, QatarEnergy, ADNOC, Baker Hughes, and Vitol, will attend the
event.
● Agencies like OPEC and the International Energy Agency (IEA) will launch key reports,
emphasizing India's role as the world's third-largest energy consumer.
o OPEC: Launch of the India Oil Demand Report.
o IEA: Release of a comprehensive study on India's natural gas sector.
The center has reconstituted the Atomic Energy Commission.
● The government has re-constituted the Atomic Energy Commission. T V Somanathan and Manoj
Govil are among the new members.
● The reconstituted commission includes National Security Adviser Ajit Doval and Foreign
Secretary Vikram Misri.
● The AEC formulates policies for the Department of Atomic Energy.
New Members Added to the Commission
● T V Somanathan has been included as the Cabinet Secretary.

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 Important Monthly Current Affairs Capsule – January 2025

● Manoj Govil has joined as the Expenditure Secretary.

● Pankaj Kumar Mishra, who assumed the role of Member (Finance) last year, is also a member.
Leadership of the Reconstituted AEC
● Ajit Kumar Mohanty, Secretary of the Department of Atomic Energy, has been appointed as the
Chairman of the commission.
Prime Minister Narendra Modi inaugurated the 6.5 km long Z-Morh tunnel in Ganderbal district of Jammu
and Kashmir

● The Z-Morh Tunnel is a vital component of the Zojila Tunnel Project, aimed at providing year-
round connectivity between Srinagar and Ladakh.
● The name "Z-Morh" originates from the Z-shaped roadway that previously existed in the area.
● Conceived in 2012 by the Border Roads Organisation (BRO), the project faced financial and
administrative hurdles under its original contractor.
● Located at an altitude of 8,650 feet, it provides all-weather connectivity to Ladakh, critical for
defense needs and regional accessibility.
8th Pay Commission approved by Cabinet, to revise the salary of central government employees
● The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the establishment of
the 8th Pay Commission to revise salaries and allowances for central government employees
and pensioners.
● The decision was announced by Union Minister Ashwini Vaishnaw.
● Coverage:
o The pay commission covers central government employees and those whose salaries are
paid from the Consolidated Fund of India.
o Exclusions:
▪ Employees of public sector undertakings (PSUs).
▪ Autonomous bodies.
▪ Gramin Dak Sevaks.
● Pay commissions are set up approximately once every decade.
● The 7th Pay Commission, established in 2016, will end its term in 2026.
About Pay Commission:
● Pay Commission is India's central government organisation set up by Government of India, which
gives its recommendations regarding changes in salary structure of its employees.

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 Important Monthly Current Affairs Capsule – January 2025

● It was set up in 1947.

● Headquartered in Delhi (India), the commission is given 18 months from date of its constitution to
make its recommendations
Defence ministry's battle tourism plan takes shape with launch of Bharat Ranbhoomi Darshan App
● To promote tourism and highlight India's military heritage, the government has opened significant
battlefields to visitors.
● These include sites from the 1962 India-China war, offering a deeper connection to the nation's
wartime history.
● The Ministry of Defence (MoD) has granted civilians access to the following battlefields:
● Kibithoo and Bum La Pass in Arunachal Pradesh
● Rezang La and Pangong Tso in Ladakh
● Doklam, the site of the 2017 conflict
● A new website, Bharat Ranbhoomi Darshan, has been launched in collaboration with the Ministry
of Tourism.
About Ministry of Defence:
● Cabinet Minister: Shri Rajnath Singh
● Minister of State: Shri Sanjay Seth
About Ministry of Tourism:
● Cabinet Minister: Shri Gajendra Singh Shekhawat
● Minister of State: Shri Suresh Gopi
The Telecom Regulatory Authority of India (TRAI) has recommended capping Internet tariffs for Wi-Fi
service providers under the Prime Ministers Wi-Fi Access Network Interface (PM-WANI) scheme
● As of July 2024, only 2,07,642 hotspots had been deployed, far below the target of 50 lakh by
2020 and 1 crore by 2022.
● High costs of backhaul connectivity, low data utilisation, and restrictive agreements with service
providers have hindered the scheme's success.
● The proposed tariff rationalisation seeks to enhance the operational viability of Public Data
Offices (PDOs) while ensuring fair compensation for service providers.
● This move aims to revitalise PM-WANI and expand Internet access across India.
About PM-WANI
● The Prime Ministers Wi-Fi Access Network Interface (PM-WANI) scheme, launched in December
2020

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 Important Monthly Current Affairs Capsule – January 2025

● This aims to expand Internet access via public Wi-Fi hotspots managed by Public Data Offices
(PDOs).
Global unemployment remains near a historical low of 5%, but significant challenges are slowing the full
recovery of labor markets, according to the latest report of the International Lab
● The International Labour Organization (ILO) reported that global unemployment will remain at a
historically low 5% in 2024, marking a steady recovery from the COVID-19 pandemic.
● However, deep-seated issues continue to impede full recovery, such as widening inequalities,
high youth unemployment, and inflation's enduring impact.
● The global jobs gap, which includes 402 million people, highlights unmet labor market demands,
with youth and women in low-income countries disproportionately affected.
About International Labour Organization (ILO):
● Headquarters: Geneva, Switzerland
● Founded: 1919
● Director-General: Gilbert Houngbo
Government green light to Aircraft Leasing Bill to boost Indian aviation sector
● The Protection and Enforcement of Interests in Aircraft Objects Act, 2024 aims to reduce the
leasing and financing costs of aircraft for Indian airlines, ultimately resulting in lower airfares.
● The Act will facilitate India's ratification of the Cape Town Convention, a global treaty that
ensures lessors rights to repossess leased high-value equipment, such as aircraft, helicopters,
and engines, in the event of payment defaults.
● This convention was adopted in November 2001 under the International Civil Aviation
Organization (ICAO) and the International Institute for the Unification of Private Law (UNIDROIT).
● The Protection and Enforcement of Interests in Aircraft Objects Bill, 2022 (the CTC Bill) has been
published by Ministry of Civil Aviation on 16th April 2022 for public consultation.
● The primary feature of the Bill is to enforce the Convention on International Interests in Mobile
Equipment or the Cape Town Convention and the Protocol on Matters Specific to Aircraft
Equipment (together CTC) and respective declarations deposited by India thereunder.
The Union Cabinet approved the establishment of the Third Launch Pad (TLP) at Satish Dhawan Space
Centre of ISRO at Sriharikota, Andhra Pradesh
● The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the
establishment of the Third Launch Pad (TLP) at the Satish Dhawan Space Centre in Sriharikota,
Andhra Pradesh.

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 Important Monthly Current Affairs Capsule – January 2025

● The project aims to strengthen India's space infrastructure by enhancing the launch capacity for
the country's Next Generation Launch Vehicles (NGLV) and also serving as a standby for the
Second Launch Pad (SLP).
● This development is crucial for supporting future human spaceflight missions and expanding
India's capabilities in space exploration.
● The TLP is designed to be universal and adaptable, capable of supporting NGLV, LVM3 vehicles
with semicryogenic stages, and scaled-up configurations of NGLV.
● The TLP is set to be established within a 48-month timeline, or 4 years.
● The total fund requirement for the project is ₹3984.86 crore, which will cover the establishment of
the launch pad and its associated facilities.
Cabinet Approves Refarming of 687 MHz Spectrum for 5G and 6G Services
● Union Minister for Communications Jyotiraditya Scindia announced that the Cabinet has approved
the refarming of 687 MHz of spectrum from various government ministries to support the deployment
of 5G and future 6G services.
● The total value of this spectrum, which will now be auctioned, is estimated at ₹2 lakh crore.
Spectrum Allocation and Demand
● Current Spectrum Availability:
o India currently has 900 MHz of spectrum across 2G, 3G, 4G, and 5G technologies.
● Spectrum Demand for 2030:
o The total spectrum requirement is projected to reach 2000 MHz by 2030, leaving a deficit
of 1100 MHz.
● Cabinet's Decision:
o Approved the refarming of 687 MHz of spectrum, bringing the total available spectrum to
1587 MHz.
o The remaining 413 MHz will be made available within the required timeline.
India Launches National Broadband Mission 2.0 and Sanchar Saathi App to Boost Digital Connectivity
and Security
● The Department of Telecommunications (DoT) has introduced two landmark initiatives—National
Broadband Mission (NBM) 2.0 and the Sanchar Saathi mobile application—to advance India's digital
infrastructure and strengthen telecom security.
● Goal: To connect the remaining 1.7 lakh villages across India and ensure 60 out of every 100 rural
households have broadband connectivity.

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 Important Monthly Current Affairs Capsule – January 2025

● Broadband Speed: Aims to provide a minimum fixed broadband download speed of 100 Mbps.
● The Sanchar Saathi app empowers citizens to secure their telecom resources and combat fraud with
user-friendly tools.
● Intra-Circle Roaming (ICR) has been introduced at Digital Bharat Nidhi (DBN)-funded 4G mobile sites.
Key Features:
● Enables subscribers of BSNL, Airtel, and Reliance to access 4G services from a single DBN-
funded tower.
● Ensures seamless connectivity and provides users with greater freedom of choice among
telecom service providers.
NHA Urges Registration of ABHA IDs for Enhanced Digital Health System
● The National Health Authority (NHA) has requested the National Medical Commission (NMC) to
instruct all medical colleges, government, and private hospitals to actively register patients for the
Ayushman Bharat Digital Health Account (ABHA ID).
● This initiative is a key part of India’s digital health transformation under the Ayushman Bharat
Digital Mission (ABDM).
● Digital health data is protected under the Digital Personal Data Protection Act, 2023, with rules
notified on January 3, 2025.
What is ABHA ID?
● A 14-digit unique number enabling patients to access their health records, prescriptions, and
consultation details across multiple healthcare providers.
● It links healthcare benefits, including public health programs and insurance schemes, offering
seamless access to health records.
Union Home Minister Amit Shah Attends NDRF 20th Raising Day in Vijayawada
● Union Home Minister and Minister of Cooperation Amit Shah participated as the Chief Guest at
the 20th Raising Day ceremony of the National Disaster Response Force (NDRF) in Vijayawada,
Andhra Pradesh.
● During the event, multiple infrastructure projects worth approximately ₹220 crore were
inaugurated or had their foundation stones laid.
● The Union Home Minister praised Chief Minister N. Chandrababu Naidu for his developmental
strategies and acknowledged the ₹3 lakh crore investments facilitated by the Central
Government over the past six months.

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● The event witnessed participation from notable dignitaries, including Andhra Pradesh CM N.
Chandrababu Naidu, Union Minister of Civil Aviation K. Rammohan Naidu, and other senior
officials.
India Targets $1 Trillion Export by 2030 with $250 Billion from Engineering Sector
● Commerce Secretary Sunil Barthwal outlined the Indian government's ambitious export goals,
with a target of $1 trillion in exports by 2030.
● This includes $250 billion from the engineering sector, which comprises areas like automobiles,
equipment, and other related industries.
Key Developments from the 3rd National Mining Ministers’ Conference in Konark, Odisha
● The 3rd National Mining Ministers’ Conference, organized by the Ministry of Mines in collaboration
with the Odisha Government, concluded its first day in Konark, Odisha.
● Union Minister Shri G. Kishan Reddy, Odisha Chief Minister Shri Mohan Charan Majhi, 14 State
Mining Ministers, senior officials, industry leaders, and key stakeholders participated in the event.

Prime Minister’s Awards for Excellence in Public Administration 2024

● The Scheme and Web-Portal (http://www.pmawards.gov.in) for the Prime Minister’s Awards for
Excellence in Public Administration 2024 was officially launched by the Department of
Administrative Reforms & Public Grievances.
Introduction
● Launched By: Department of Administrative Reforms & Public Grievances
● Launch Date: 20th January 2025, 3:00 PM
Government Unveils Entity Locker: A Revolutionary Digital Platform for Business Document Management
● The Entity Locker is a cutting-edge digital platform launched by the Ministry of Electronics and
Information Technology (MeitY) under the National eGovernance Division (NeGD).
● Designed to streamline the management, verification, and sharing of business and organizational
documents, it promises to enhance efficiency and security in digital governance.
● The platform caters to a wide range of entities, including: Corporations, Micro, Small, and Medium
Enterprises (MSMEs), Trusts, Startups, Societies
Smriti Irani, Shekhar Kapur Join Reconstituted Prime Ministers’ Museum and Library Society
● The Centre has reconstituted the society and Executive Council of the Prime Ministers’ Museum
and Library (PMML) with several new names being added.
● The Prime Ministers’ Museum and Library (PMML) has undergone a reconstitution, with several

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 Important Monthly Current Affairs Capsule – January 2025

prominent new members added to the Executive Council.

● Expansion of Executive Council: The Executive Council, previously consisting of 29 members, has
now been expanded to 34 members.

Jawaharlal Nehru Port Authority’s ₹2,000 Crore Expansion: Boosting India’s Port Infrastructure and
Economic Growth
● Union Minister Shri Sarbananda Sonowal launched projects worth ₹2,000 crore at the Jawaharlal
Nehru Port (JNPA), Mumbai.
● Key launches include:
o A solar-powered boat.
o Two indigenously developed 70T tugs.
o Three fire tenders to enhance port safety and efficiency.
Union Minister Shri Rajiv Ranjan Singh to Inaugurate Livestock Conclave in Shillong
● The Department of Animal Husbandry & Dairying, under the Ministry of Fisheries, Animal
Husbandry & Dairying, is hosting a two-day conclave titled “Dialogue for Holistic Development of
Livestock Sector in North East India” in Shillong, Meghalaya, on 23rd–24th January 2025.
Event Details
● Inauguration: By Union Minister Shri Rajiv Ranjan Singh (Lalan Singh), FAHD & Panchayati Raj.
● Special Guests:
o S.P. Singh Baghel, Minister of State for FAHD and Panchayati Raj.
o Shri George Kurian, Minister of State for FAHD & Minority Affairs.
o Shri Conrad K. Sangma, Chief Minister of Meghalaya.
India Launches Diamond Imprest Authorization Scheme to Revitalize Diamond Sector
● The Department of Commerce and Industry has introduced the Diamond Imprest Authorization
(DIA) Scheme, effective April 1, 2025, to boost the global competitiveness of India’s diamond
industry.
● The scheme aims to streamline duty-free imports of small diamonds, promote value addition, and
boost exports, particularly benefiting MSME exporters.
● A press release on the scheme was issued on January 21, 2025.
Key Features of the DIA Scheme:
1. Allows duty-free import of natural cut and polished diamonds less than ¼ carat (25 cents).
2. Requires an export obligation with a value addition of 10%.

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 Important Monthly Current Affairs Capsule – January 2025

3. Available to diamond exporters with Two Star Export House status and above, and annual exports
of at least US$15 million.
India Prepares for eVTOL Air Taxi Revolution with Regulatory Sandbox and Trial Sites
● The Centre has begun identifying trial sites for air taxis or electric-vertical take off and landing
(eVTOL) aircraft.
● eVTOL (Electric Vertical Take-Off and Landing) aircraft represent a cutting-edge solution to urban
congestion.
● These electric-powered aircraft can take off and land vertically, like helicopters, and transition to
forward flight using tilt rotors.
● Promising rapid commutes, eVTOLs are designed to offer sustainable and efficient alternatives to
traditional transportation.
10th Anniversary of Beti Bachao Beti Padhao: Empowering India’s Girl Child for a Viksit Bharat
● The Ministry of Women and Child Development is marking the 10th anniversary of the Beti Bachao
Beti Padhao (BBBP) scheme, a decade-long effort to protect, educate, and empower the girl child
in India.
● The anniversary celebration aligns with India’s vision for Viksit Bharat 2047 and the global shift
from Women’s Development to Women-Led Development, a theme emphasized during
India’s G20 Presidency and now embraced by Brazil’s G20 Presidency.
India Aims for 500 GW Renewable Energy Capacity by 2030, Focuses on Energy Self-Reliance
● Union Minister Pralhad Joshi reaffirmed the government’s commitment to increase renewable
energy production to 500 GW by 2030 and ensure that 50% of India’s energy requirement comes
from renewable sources.
● The minister emphasized that both central and state governments are working rapidly to meet
these ambitious targets.
India’s Energy Future
● Joshi highlighted that India’s energy requirement is expected to double by 2032.
● India has progressed from being the 11th largest economy a decade ago to now being one of
the top five economies globally, with aspirations to become the third-largest economy
Government Unveils Draft Guidelines for E-Commerce Self-Regulation to Protect Consumers
● The Indian government has introduced draft guidelines aimed at ensuring self-regulation by e-
commerce platforms to protect consumers from fraudulent practices in India’s rapidly
growing digital shopping

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 Important Monthly Current Affairs Capsule – January 2025

● The guidelines, titled “E-commerce – Principles and Guidelines for Self-Governance,” were
prepared by the Bureau of Indian Standards (BIS) under the supervision of the Food and
Consumer Affairs Ministry.
Key Provisions in the Guidelines
1. Seller Reviews and Accuracy of Listings:
o E-commerce platforms are required to periodically review sellers to ensure the accuracy of
product listings and maintain consumer trust.
2. Consumer Reviews and Ratings:
o All consumer reviews and ratings must adhere to IS 19000:2022 standards, covering
the collection, moderation, and publication of online consumer reviews to ensure
transparency and authenticity.
3. Data Protection:
o Strict compliance with data protection laws is emphasized, ensuring the safeguarding of
consumer information across all e-commerce platforms.
India Launches Indian Sustainable Natural Rubber (iSNR) Initiative to Lead Global Sustainability in
Rubber Production
● The Indian Sustainable Natural Rubber (iSNR) initiative was launched in Kottayam, Kerala,
aligning with globally accepted sustainability principles and the European Union Deforestation
Regulation (EUDR).
● The ceremony was inaugurated by George Kurian, Hon’ble Minister of State for Fisheries, Animal
Husbandry, Dairying, and Minority Affairs, and presided over by Thiruvanchur Radhakrishnan,
Member of the Legislative Assembly.
● Key dignitaries, including Anil Kumar (Vice Chairman, Rubber Board) and N. Hari (Member,
Rubber Board), also attended the event.
National Health Mission (NHM) Drives India’s Progress Toward Health Sustainable Development Goals
by 2030
● The Union Cabinet reviewed the National Health Mission (NHM) for the last three years and
highlighted its critical contribution to achieving Sustainable Development Goals (SDGs) ahead of
the 2030 deadline.
● NHM has transformed India’s healthcare system, improving maternal and child health,
addressing disease elimination, and strengthening healthcare infrastructure.
Competition Commission of India’s Monetary Penalty Guidelines Nominated for Global Antitrust Award

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● The Competition Commission of India (CCI) has earned global acclaim with the nomination of
its “Determination of Monetary Penalty Guidelines, 2024” for the 2025 Concurrences Antitrust
Awards in the Soft Laws & Studies category.
● Organized annually, the Concurrences Antitrust Writing Awardshonorexceptional contributions
to competition law and policy
About the Guidelines
● Introduced in 2024, these guidelines provide a structured framework for determining monetary
penalties in antitrust cases.
● The framework enhances transparency and predictability in enforcement, ensuring proportional
penalties and aligning India’s practices with global standards.
India Showcases Inclusive Growth and Digital Transformation at World Economic Forum 2025
● Union Minister Shri Ashwini Vaishnaw (Railways, Information & Broadcasting, Electronics & IT) is
participating in the World Economic Forum (WEF) 2025 in Davos.
● His participation underscores India’s commitment to inclusive growth, transformative
development, and technological innovation as envisioned by Prime Minister Narendra Modi.
UNESCO and MeitY Collaborate on AI Readiness Assessment to Align India’s AI Ecosystem with Global
Ethical Standards
● The United Nations Educational, Scientific and Cultural Organization (UNESCO)and the Ministry of
Electronics and Information Technology (MeitY), in partnership with Ikigai Law, organized a two-
day AI Readiness Assessment Methodology (RAM) consultation.
● Held on January 16-17, 2025, at IIIT Bangalore and the NASSCOM AI office, the consultation
aimed to align India’s AI ecosystem with global ethical standards, focusing on responsible and
ethical AI adoption.
INCOIS Receives Subhash Chandra Bose AapdaPrabandhan Puraskar-2025 for Exceptional Disaster
Management Contributions
● Indian National Centre for Ocean Information Services (INCOIS), based in Hyderabad, has been
honored with the prestigious Subhash Chandra Bose AapdaPrabandhan Puraskar-2025 for its
outstanding contributions to disaster management.
● The award was conferred in the Institutional Category for INCOIS’s role in strengthening disaster
preparedness and providing critical early warning services.
Award Overview
● The Subhash Chandra Bose AapdaPrabandhanPuraskar, instituted by the Government of India,

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 Important Monthly Current Affairs Capsule – January 2025

recognizes exceptional individuals and organizations for their work in disaster management.
● The award, announced annually on January 23 (Netaji Subhash Chandra Bose’s birth
anniversary), includes a cash prize and certificate.
Air India Launches eZ Booking: A New AI-Powered Ticket Booking Feature for Seamless Travel Planning
● Air India has unveiled eZ Booking, an AI-powered feature designed to streamline the ticket booking
process, allowing customers to book their flights with fewer steps.
● The feature is currently exclusive to Maharaja Club members, Air India’s loyalty programme.
● eZ Booking simplifies the booking experience by enabling customers to Benefits of eZ Booking
Cabinet Approves Increased Minimum Support Price (MSP) for Raw Jute for 2025-26
● The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Shri Narendra
Modi, has approved the Minimum Support Price (MSP) for Raw Jute for the Marketing season
2025-26.
● MSP of Raw Jute (TD-3 grade) is fixed at 5,650 per quintal, ensuring a 66.8% return over the all-
India weighted average cost of production.
● This increase aligns with the government’s principle of setting MSP at 1.5 times the all-India
weighted average cost of production, as announced in the Budget 2018-19.
Increase in MSP for 2025-26
● The MSP for Raw Jute represents an increase of Rs.315 per quintal over the previous season
(2024-25).
● The MSP for Raw Jute has risen significantly from Rs.2,400 per quintal in 2014-15 to Rs.
5,650 per quintal for 2025-26, marking an increase of Rs. 3,250 per quintal, which is 2.35 times the
previous rate.
Central Consumer Protection Authority Issues Notices to Ola and Uber Over Pricing Discrepancies
● The Central Consumer Protection Authority (CCPA) has issued notices to cab
aggregators Ola and Uber regarding alleged differential pricing based on the user’s mobile
operating system (iOS vs Android).
● Complaint Details:
o Reports indicate users with Apple iOS devices were charged higher fares compared
to Android users for identical routes.
o This raised concerns about unfair trade practices and violation of consumer rights.
● Government’s Intervention:
o Union Consumer Affairs Minister Pralhad Joshi highlighted the issue, stating it

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 Important Monthly Current Affairs Capsule – January 2025

demonstrates a “blatant disregard for consumer rights”.

About CCPA
● Full Form: Central Consumer Protection Authority
● Established: July 2020 under the Consumer Protection Act, 2019
● Headquarters : New Delhi, India
Swachh Survekshan 2024: Introduction of Super Swachh League and New Toolkit for Urban Cleanliness
● Union Minister for Housing and Urban Affairs, Shri Manohar Lal Khattar, launched the 9th edition
of Swachh Survekshan (SS), the world’s largest urban cleanliness survey, with a new toolkit aimed
at simplifying and enhancing the process.
● The launch was attended by Shri S. Katikithala, Secretary, MoHUA, and various state officials and
representatives from urban local bodies (ULBs).
About Swachh Survekshan
● Launched: 2016 by the Ministry of Housing and Urban Affairs (MoHUA).
● Purpose: To rank cities based on cleanliness and sanitation practices.
● Target Cities: Urban Local Bodies (ULBs) across India.
About Swachh Bharat Mission
● Launched: 2nd October 2014, by Prime Minister Narendra Modi.
● Objective: To eliminate open defecation, improve solid waste management, and make urban and
rural areas clean.
Second BIMSTEC Expert Group Meeting on Cyber Security Cooperation Held in New Delhi
● The National Security Council Secretariat (NSCS), Government of India, organized the Second
BIMSTEC Expert Group Meeting on Cyber Security Cooperation in New Delhi.
● This follows the First Meeting hosted by India in 2022, also held in New Delhi.
Objective:
o The primary goal of the meeting was to finalize an Action Plan aimed at:
▪ Enhancing coordination and collaboration among BIMSTEC member states.
▪ Strengthening cybersecurity in the use of ICTs (Information and Communication
Technologies).
o Implementation Timeline: The Action Plan is set to be implemented over 5 years.
India’s Contribution:
o Presented its initiative Indian Cybercrime Coordination Centre (I4C) on “Cyber Hygiene for
School Children”, highlighting awareness and prevention strategies for younger populations.

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About BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation):
● Established: 1997
● Members: Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, Thailand
● Headquarters: Dhaka, Bangladesh
About Indian Cybercrime Coordination Centre (I4C):
● Established: 2018
● Operates under: Ministry of Home Affairs
● Objective: Combat cybercrime and ensure cyber safety across India.
Government Approves Rs 500 Crore Capital Infusion into Industrial Finance Corporation of India for
Financial Year 2024-25
● The Industrial Finance Corporation of India (IFCI) announced that the Government of India has
approved a capital infusion of ₹500 crore into the company through the preferential issue of shares.
● This is a significant step to further strengthen the financial position of IFCI, which is a state-owned
financial institution.
1. Capital Infusion Details:
o The Department of Financial Services has conveyed the sanction of the President of
India for the release of ₹500 crore in funds for IFCI. This will be directed
towards subscription to the share capital in FY 2024-25.
o The capital infusion is part of the government’s ongoing support to IFCI, as outlined in
the first Supplementary Demand for Grants for FY 2024-25, which was approved in the Lok
Sabha in December 2024.
About Industrial Finance Corporation of India (IFCI)
● Founded: July 1, 1948
● Headquarters: New Delhi, India
● Current Government Stake: 71.72% (as of September 2024)
76th Republic Day Celebration: Highlights and Key Details (2025)
● On 26th January 2025, President Droupadi Murmu led the nation in celebrating the 76th Republic
Day at Kartavya Path (formerly Janpath) in New Delhi.
● An impressive parade, tableaux, and a cultural extravaganza marked the occasion. Indonesian
President Prabowo Subianto was the Chief Guest, symbolizing India’s close ties with Indonesia.
Key Highlights of the Republic Day Celebration (2025)
Historical Context

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 Important Monthly Current Affairs Capsule – January 2025

● Republic Day commemorates the promulgation of the Indian Constitution on 26th January 1950.
● Since 2022, Republic Day celebrations span from 23rd January (Parakram Diwas) to 30th January
(Martyrs’ Day).
Parade and Leadership
● Commander of Parade: Lieutenant General Bhavnish Kumar, General Officer Commanding, Delhi
Area.
● Notable Participations:
o A 152-member contingent from the Indonesian National Armed Forces and a 190-member
Indonesian Military Band participated in the parade.
o First Foreign Military Participation: French Army Band (67th Republic Day, 2016).
o CRPF All-Women Contingent: Led by Assistant Commandant Aishwarya Joy M.
o BSF Camel Contingent: Led by Deputy Commandant Manohar Singh Kheechee.
Tableaux and Cultural Performances
● Theme: “Swarnim Bharat: Virasat aur Vikas” (Golden India: Heritage and Progress).
● Participants:
o 16 States/UTs and 10 Union Ministries/Departments displayed tableaux showcasing
India’s diversity and achievements.
o 5,000 artists performed over 45 traditional dances titled ‘Jayati Jaya Mamaḧ Bharatam’,
covering the entire Kartavya Path for the first time to ensure equal visibility for all guests.
Bharat Parv Festival
● Organized by the Union Ministry of Tourism at the Red Fort from 26th to 31st January 2025.
Important Observances During Republic Day Festivities:
1. Parakram Diwas (23rd January): Birth anniversary of Netaji Subhas Chandra Bose.
2. Beating Retreat Ceremony (29th January): End of the Republic Day Parade.
3. Martyrs’ Day (30th January): Commemorating Mahatma Gandhi’s death anniversary.
Indore and Udaipur Achieve Global Recognition as Wetland Cities under Ramsar Convention
● Indore and Udaipur have reached a significant milestone by becoming the first two Indian cities to
be recognized under the Ramsar Convention on Wetlands as Wetland Cities.
● This prestigious recognition is a testament to India’s ongoing commitment to sustainable urban
development and ecological conservation.
● The accreditation highlights the role of wetlands in providing ecological, social, and economic
benefits, making them crucial to the sustainable growth of cities.

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About Wetland City Accreditation (WCA)

● The Ramsar Convention, established in 1971, is an international treaty aimed at the conservation
and sustainable use of wetlands.
● In 2015, during COP12, the Ramsar Convention introduced the Wetland City Accreditation
(WCA) system to recognize cities that have taken significant steps in safeguarding their urban
wetlands.
1. Eligibility:
o Cities must meet six international criteria outlined in the Operational Guidance for WCA to
be formally accredited.
India’s Determined Path to Tuberculosis (TB) Elimination
● India has been a global leader in the fight against tuberculosis (TB), with efforts spanning over six
decades.
● Despite significant progress, the country faces several challenges in reaching the World Health
Organization’s (WHO) targets for TB elimination.
● India’s resolve to eliminate TB by 2025 is reflected in its evolving strategies and robust public health
initiatives.
About WHO:
● Headquarters: Geneva, Switzerland
● Founded: 7 April 1948
● Director-General: Tedros Adhanom Ghebreyesus
India’s Participation at FITUR 2025: A Strategic Push for Tourism Growth from Spain and Latin America
● The Ministry of Tourism, Government of India, participated in FITUR 2025, one of the leading travel
fairs held in Madrid, Spain, from January 22-26, 2025.
● This global exhibition serves as a crucial platform for positioning India as a prime travel destination
for Spain and Latin America, marking a key step in boosting inbound tourism from these regions.
● Inauguration of the India Pavilion:
o The Incredible India pavilion was inaugurated by E. Shri Dinesh K. Patnaik, Ambassador of
India to Spain, on January 22, 2025.
● Indian Delegation and Participation:
o Over 23 co-exhibitors participated, representing State Governments of
Karnataka, Sikkim, Chhattisgarh, and Jharkhand, among others.
● Chalo India Initiative:

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 Important Monthly Current Affairs Capsule – January 2025

o The Ministry of Tourism launched the ‘Chalo India Initiative’ to encourage the Indian
diaspora to promote tourism.
o Indian diaspora members can register on the Chalo India portal (www.chaloindia.gov.in) to
receive a referral code and invite 5 non-Indian friends to visit India.
THDC India Achieves Milestone with COD of Khurja Super Thermal Power Plant (KSTPP)
● THDC India Limited (THDCIL), a Mini-Ratna Public Sector Enterprise, has marked a significant
achievement in India’s power sector with the Commercial Operation Date (COD) of Unit #1 of
the 1320 MW Khurja Super Thermal Power Plant (KSTPP), announced on January 25, 2025.
● This milestone reinforces the company’s commitment to enhancing India’s power generation
capacity and contributing to the country’s journey toward energy self-reliance.
1. COD Declaration:
o The Commercial Operation Date (COD) for Unit #1 (660 MW) of KSTPP was declared at
midnight on January 25, 2025.
o The plant has successfully completed its synchronization with the grid, full load testing (660
MW), and 72-hour trial run on full load.
Prime Minister Narendra Modi Inaugurates 38th National Games in Dehradun
● Prime Minister Narendra Modi inaugurated the 38th National Games in Dehradun, Uttarakhand.
● The event coincides with Uttarakhand’s 25th anniversary celebrations.
● Theme: ‘Green Games’ – Focus on eco-friendly initiatives and sustainability.
Cabinet Approves Rs 16,300 Crore National Critical Mineral Mission (CMM)
● The Union Cabinet has approved the National Critical Mineral Mission (CMM) with a financial
allocation of Rs 16,300 crore.
● This initiative is designed to meet the growing demand for minerals vital for advanced
technologies and defence production.
Republic Day Parade 2025: Winners of Marching Contingents & Tableaux
● The Republic Day Parade 2025 at Kartavya Path, Delhi showcased India’s military strength,
cultural diversity, and historical legacy.
● Expert panels announced results via an online public poll on MyGov. Here are the winners in
various categories:
Marching Contingent Winners
Judges’ Choice:
● Best Marching Contingent (Services): Jammu & Kashmir Rifles Contingent

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 Important Monthly Current Affairs Capsule – January 2025

● Best Marching Contingent (CAPFs/Other Auxiliary Forces): Delhi Police Marching Contingent
Joint Committee of Parliament (JCP) Panel Adopts Report on Waqf (Amendment) Bill with 15-11 Vote
● The Joint Parliamentary Committee (JPC) chairperson Jagdambika Pal stated that the panel
adopted the Waqf (Amendment) Bill draft report and the amended version of the proposed law
with a majority vote.
● Pal stated that 16 members voted in favour, while 11 opposed it.
● Adoption of Draft Report:
o The Joint Parliamentary Committee (JPC) adopted the draft report of the Waqf
(Amendment) Bill with a majority vote (16 in favor, 11 opposed).
o JPC Chairperson Jagdambika Pal confirmed the amended version of the proposed law.
● Background of the Bill:
o The Waqf (Amendment) Bill, 2024 was introduced in the Lok Sabha by Union Minority
Affairs Minister Kiren Rijiju on August 8, 2024.
o It aims to amend the Waqf Act, 1995, to address challenges in regulating and
managing Waqf properties.

INTERNATIONAL NEWS
Indonesian President Prabowo Subianto's Wishlist Includes BrahMos Missiles
● The purchase of BrahMos missiles is a key item on the agenda for Indonesian President
Prabowo Subianto during his proposed visit to India for the Republic Day celebrations later this
month.
● Indonesia could become the third country from Southeast Asia to purchase the BrahMos missile
system, following the Philippines and Vietnam.
● BrahMos in Previous Visit:During his visit to India as Defence Minister in 2020, BrahMos was a
significant topic of discussion in his meeting with Defence Minister Rajnath Singh.
About Indonesia :
● Capital : Nusanatara
● Currency : rupiah
Russia introduces new tourist tax from January 1, 2025
● The new tourist tax in Russia came into effect on January 1, 2025, replacing the previous resort
fee.
● Tax Rate:

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 Important Monthly Current Affairs Capsule – January 2025

● Initial tax rate: 1% of lodging costs in 2025.

● Gradual increase: 3% by 2027.
● Minimum daily charge: 100 rubles (approx. $0.9).
● Purpose: The tax aims to bolster regional tourism infrastructure as part of amendments to the
Russian Tax Code introduced in July 2024, under the new chapter titled "Tourist Tax."
About Russia :
● President : Vladimir Putin
● Prime Minister : Mikhail Mishustin
● Capital : Moscow
● Currency : Ruble
Japan's Iconic Sake Added to UNESCO Cultural Heritage List, Celebrating Brewers and Enthusiasts
● Japan's traditional rice wine, sake, has been inducted into UNESCO's Intangible Cultural
Heritage of Humanity list.
● This recognition highlights the importance of sake in Japan's rich culinary and cultural traditions.
● Sake has a deep-rooted history in Japanese culture, being integral to both traditional rites and
modern-day culinary practices.
About Japan :
● Prime Minister : Shigeru Ishiba
● Capital : Tokyo
● Currency : Japanese yen
United Nations Educational, Scientific and Cultural Organization Recognizes Sevdalinka as Intangible
World Cultural Heritage
● In December, 2024 United Nations Educational, Scientific and Cultural Organization (UNESCO)
added Sevdalinka (also known as Sevdah) to its list of intangible world cultural heritage.
● Sevdalinka is a traditional folk music genre that dates back to the 16th-century Ottoman Empire.
● The music is often referred to as the "Balkan Blues" due to its focus on sad love songs.
About UNESCO :
● Formation : 16 November 1945
● Headquarters : Paris, France
● Director General : Audrey Azoulay

UAE initiates educational campaign in Gaza as part of Operation Chivalrous Knight 3

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 Important Monthly Current Affairs Capsule – January 2025

● The UAE launched a campaign in Gaza under Operation Chivalrous Knight 3 to support
education in the region.
● Purpose: The campaign aims to provide school bags and educational supplies to children,
helping them continue their education amidst challenging humanitarian conditions.
● Campaign Supplies: The aid includes school bags, notebooks, pens, stationery, and other
necessary educational materials.
India Becomes Member of UN Committee of Experts on Big Data and Data Science for Official Statistics
● India has been officially inducted into the UN Committee of Experts on Big Data and Data
Science for Official Statistics (UN-CEBD).
● This committee was created to explore the benefits and challenges of big data, including its
potential for monitoring and reporting on Sustainable Development
● Positioning as a Global Player: Membership in this committee allows India to align its
advancements in big data and data science with international objectives, positioning the country
as a leader in transformative initiatives in the data domain.

Meeting of India-Nepal Inter-Governmental Committee on Trade, Transit and Cooperation Unauthorized

Trade Concludes in Kathmandu
● The India-Nepal Inter-Governmental Committee (IGC) meeting was held on January 10-11, 2025,
in Kathmandu, Nepal.
● The Indian delegation was led by Shri Sunil Barthwal, Secretary of the Department of Commerce,
Government of India.
● The Nepali delegation was led by Mr. Gobinda Bahadur Karkee, Secretary of the Ministry of
Industry, Commerce, and Supplies.
About Nepal:
● President: Ram Chandra Paudel (as of January 2025)
● Capital: Kathmandu
● Currency: Nepalese Rupee (NPR)
● Famous Landmark: Mount Everest (the highest peak in the world), located in the Himalayas.
About Ministry of Commerce & Industry:
● Cabinet Minister: Piyush Goyal
● Minister of State: Som Parkash (Minister of State for Commerce and Industry) and Hardeep
Singh Puri (Minister of State for Commerce and Industry)

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 Important Monthly Current Affairs Capsule – January 2025

INDIA TO HOST 28TH CONFERENCE OF SPEAKERS AND PRESIDING OFFICERS OF PARLIAMENTS

OF COMMONWEALTH COUNTRIES WITH FOCUS ON AI AND SOCIAL MEDIA: LOK SABHA SPEAKER
● India will host the 28th Conference of Speakers and Presiding Officers of Parliaments of
Commonwealth Countries (CSPOC) in 2026, as announced by Lok Sabha Speaker Om Birla
during the CSPOC Standing Committee Meeting in Guernsey.

S Jaishankar To Attend Donald Trump's Swearing-In Ceremony On January 20, 2025

● External Affairs Minister (EAM) S. Jaishankar will represent India at the swearing-in ceremony of
Donald J. Trump as the 47th President of the United States of America, as announced by New
Delhi.
● The ceremony is expected to take place next week, around January 20.
● During his visit, Mr. Jaishankar will also meet representatives of the incoming Trump
administration and other dignitaries attending the occasion, according to the Ministry of External
Affairs (MEA).
About USA:
● President: Joe Biden (as of January 2025)
● Capital: Washington, D.C.
● Currency: United States Dollar (USD)
Russia Sends Nuclear Reactor Vessel for Kudankulam Reactor 6; Steam Generators Expected This Year
● The Russian government-owned company Rosatom has shipped the 6th and final unit of the
Kudankulam Nuclear Power Plant being set up in Kudankulam, Tirunelveli District, Tamil Nadu,
on board a specialised ship from the seaport of Novorossiysk.
● The equipment, weighing 320 tonnes and manufactured by Atommash, Rosatoms machine-
building division, was shipped at the end of 2024.
● The Kudankulam Nuclear Power Plant will be the largest nuclear power plant at a single location
in the country.
● According to the Nuclear Power Corporation of India (NPCIL) in 2024 there were 24 operational
nuclear reactors in the country with an installed capacity of 8080 MW.
About Russia :
● President : Vladimir Putin
● Prime Minister : Mikhail Mishustin

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 Important Monthly Current Affairs Capsule – January 2025

● Capital : Moscow
● Currency : Ruble
Brazil Announces Indonesia's Admission to BRICS Bloc of Developing Nations
● Indonesia has been admitted as a full member of the BRICS bloc of developing economies, the
group's presiding country Brazil announced.
● Indonesia became the 10th full member of the international BRICS group.
● Indonesia's candidacy was endorsed by BRICS leaders in August 2023, according to the Foreign
Ministry of Brazil, which holds the groups presidency for 2024.
● BRICS was formed by Brazil, Russia, India and China in 2009, and added South Africa in 2010.
● Turkey, Azerbaijan and Malaysia have formally applied to become members, and a few others
have expressed interest.
● The most recent BRICS summit, the 16th such gathering, took place in Kazan, Russia, in
October 2024 and was hosted by Russian President Vladimir Putin.
● This year's BRICS summit will take place in Rio de Janeiro in July, 2025.
China Completes World's Longest Expressway Tunnel in Xinjiang Region
● China has completed the construction of the world’s longest expressway tunnel, known as the
Tianshan Shengli Tunnel, located in the Xinjiang Uighur Autonomous Region.
● Tunnel Length and Location:The Tianshan Shengli Tunnel is 22.13 kilometers long, situated in
the Tianshan Mountains, at an elevation of 3,000 feet above sea level.
● The tunnel is part of the 319.72-kilometer Urumqi-Yuli Expressway, which will reduce driving time
between Urumqi and Yuli County from seven hours to just over three hours.
● The project marked the first use of a tunnel boring machine for road construction in China,
shortening the typical construction time from 10 years to just over four years.
● Tunnel Design:The tunnel has a dual-direction, four-lane design, with a speed limit of 100 km/h.
About China :
● President : Xi Jinping
● Capital : Beijing
● Currency : Renminbi
United States Delists 3 Indian Entities from Trade Blacklist, Adds 11 Chinese Companies Citing Security
Risks

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 Important Monthly Current Affairs Capsule – January 2025

● The United States Bureau of Industry and Security (BIS) removed three Indian organizations
from its Entity List.
● Indian Entities Removed:
○ Indian Rare Earths
○ Indira Gandhi Atomic Research Center (IGCAR)
○ Bhabha Atomic Research Centre (BARC), Mumbai, India
● Reason: The removal aims to enhance U.S.-India energy cooperation, particularly in advanced
energy sectors, defense, and technology.
● U.S.-China Relations:BIS Entity List Addition: 11 Chinese entities were added to the BIS Entity
List.
● Reason for Addition: The U.S. government cited national security concerns, alleging that Chinese
companies were involved in technology transfers and surveillance activities that pose security
risks.
Negotiations for the Oman-India Free Trade Agreement formally began in November 2023, with most
chapters finalized by January 2024.
● Negotiations for the Free Trade Agreement (FTA) between India and Oman began in November
2023 and concluded in March 2024, but a request for review by Oman delayed its signing.
● Oman has sought minimal changes, primarily concerning cigarettes and liquor, with no
concessions requested on 125-130 product categories.
● The FTA, termed Comprehensive Economic Partnership Agreement (CEPA), will give India
access to 98% of its products in Oman and significant access to services, surpassing the scope
of the India-UAE FTA.
● Oman is India’s third-largest export destination among GCC countries, and over 80% of Indian
goods currently enter Oman with an average 5% import duty.
What is Free Trade Agreement:
● A free trade agreement (FTA) or treaty is an agreement according to international law to form
a free-trade area between the cooperating states.
● There are two types of trade agreements: bilateral and multilateral.
About Oman:
● Capital: Muscat
● Sultan: Haitham bin Tariq
● Currency: Omani Rial (OMR)

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 Important Monthly Current Affairs Capsule – January 2025

Brazil Announces Nigeria as BRICS Partner Country

● On January 17, 2025, the Brazilian government, under its pro tempore presidency of BRICS,
formally announced Nigeria’s inclusion as a partner country.
● With this development, Nigeria becomes the 9th partner of BRICS, joining other countries such
as Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan.
● Initially comprising Brazil, Russia, India, China, and South Africa, BRICS has grown to
accommodate the aspirations of emerging economies worldwide.
● The partner-country category, introduced during the 16th BRICS Summit in Kazan, Russia in
October 2024, has enabled more nations to collaborate with the alliance.
About Nigeria
● Capital: Abuja
● President: Bola Ahmed Tinubu
● Vice President: Kashim Shettima
● Currency: Nigerian Naira (NGN)
Southern states of India are making a concerted push to attract global investors at the 55th World
Economic Forum (WEF) annual meeting in Davos.
● Southern states are intensifying efforts to attract global investors at the annual World Economic
Forum (WEF) meeting in Davos.
● Each state is leveraging unique campaigns, sector-specific strengths, and policy initiatives to
stand out.
● Six Indian states—Andhra Pradesh, Maharashtra, Telangana, Tamil Nadu, Uttar Pradesh, and
Kerala—will share a joint pavilion at the WEF this year, marking a shift from previous years when
states competed with standalone pavilions to attract global investors.
About World Economic Forum (WEF):
● Formation: 24 January 1971
● Headquarters: Cologny, Switzerland
● Executive Chairman: Klaus Schwab
● President: Børge Brende
India Becomes Observer in the Eurodrone Programme Led by Airbus Defence and Space
● India has officially joined the Eurodrone programme as an observer state, marking its entry into
the OCCAR-managed Medium Altitude Long Endurance (MALE) remotely piloted aircraft system
(RPAS)

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 Important Monthly Current Affairs Capsule – January 2025

● The Organisation for Joint Armament Cooperation (OCCAR), based in Bonn, Germany, approved
India’s request made in August 2024.
● The Letter of Approval (LoA) was delivered to India’s ambassador to Germany, Ajit Gupte, by
OCCAR-EA Director Joachim Sucker.
About OCCAR:
● Established: 1996
● Head Quarters: Bonn, Germany
● Director: Joachim Sucker
● The OCCAR is a European intergovernmental organisation that facilitates and manages
collaborative armament programmes through their lifecycle between the governments of Belgium,
France, Germany, Italy, Spain, and the United Kingdom.
Nepal hosts First International Pashmina Festival cum Exhibition
● Nepal Pashmina Industries Association and the Confederation of Nepalese Industries hosted the
first International Pashmina Festival in Nepal, showcasing over 150 domestic stalls, including 40
dedicated to pure Nepali Pashmina.
● Nepali Pashmina, branded as “Chyangra Pashmina”, is recognized for its lightweight, warmth,
and authentic natural fibre, derived from the undercoat of the Pashmina goat during its natural
shedding season.
About Nepal:
● Capital: Kathmandu
● Currency: Nepalese rupee (NPR)
● President: Ram Chandra Poudel
● Prime Minister: K.P. Sharma Oli
Trump Administration’s Interior Department Renames Gulf of Mexico and Denali
● The Trump administration’s Interior Department announced a rebranding effort.
● The Gulf of Mexico was renamed to the Gulf of America.
● Alaska’s Denali was renamed back to Mount McKinley.
● These changes were part of President Trump’s campaign promises and early executive actions.
About United States of America:
● Capital: Washington, D.C.
● Currency: United States Dollar (USD)
● President: Donald Trump

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 Important Monthly Current Affairs Capsule – January 2025

● Vice President: JD Vance

United Arab Emirates President Sheikh Mohamed declares 2025 as ‘Year of Community’
● United Arab Emirates (UAE) President Sheikh Mohamed bin Zayed Al
Nahyan announced 2025 as the Year of Community, aiming to promote unity and inclusion across
the society.
● The initiative, under the slogan “Hand in Hand,” reflects the leadership’s vision to foster
a cohesive and empowered community.
About UAE:
● Capital: Abu Dhabi
● Currency: UAE Dirham (AED)
● President: Sheikh Mohamed bin Zayed Al Nahyan
● Prime Minister : Mohammed bin Rashid Al Maktoum
Millions around the world celebrate Lunar New Year and ring in the Year of the Snake
● The Lunar New Year, also known as Chinese New Year, marks the beginning of the traditional
lunisolar Chinese calendar.
● It starts with the first new moon that appears between January 21 and February 20.
● The festival is filled with customs and traditions aimed at bringing good luck and prosperity for the
year ahead.

STATE NEWS
Gujarat Government Carves Out New District, Vav-Tharad, from Banaskantha
● The Gujarat government has decided to split Banaskantha district into two parts, creating a new
district named Vav-Tharad, with its headquarters at Tharad.
● With the creation of Vav-Tharad, the total number of districts in Gujarat will increase to 34.
● Banaskantha was the largest district in Gujarat in terms of talukas and the second-largest in
terms of area.
About Gujarat :
● Capital: Gandhinagar
● Chief minister: Bhupendrabhai Patel
● Governor: Acharya Devvrat
● NP: Gir National Park, Marine National Park, Velavadar National Park

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 Important Monthly Current Affairs Capsule – January 2025

Tamil Nadu Chief Minister MK Stalin Offers $1 Million Reward for Decoding Indus Valley Civilization Script
● MK Stalin, the Chief Minister of Tamil Nadu, announced a $1 million cash prize for individuals or
organizations that successfully decipher the Indus Valley Civilization (IVC) script.
● Despite over 100 years of efforts, the script of the IVC, discovered by Sir John Marshall in 1924,
remains a mystery.
● Stalin made this announcement during the Centenary Year celebrations of the IVC discovery in
Chennai.
About Tamil Nadu :
● Governor: R. N. Ravi
● Chief minister: M. K. Stalin
● Capital: Chennai
● Dance : Bharatnatyam, Karakattam
● National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of
Mannar Marine National Park
● Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird
Sanctuary
● Tiger Reserve: Anamalai Tiger Reserve
● Biosphere Reserve : Agasthyamalai Biosphere Reserve
Gujarat Chief Minister introduces 'SWAR' platform to break language barriers
● Gujarat Chief Minister Bhupendra Patel launched the SWAR (Speech and Written Analysis
Resource) platform on December 25, 2024, marking the occasion of Good Governance Day.
● Objective: The SWAR platform is a citizen-centric initiative aimed at overcoming language
barriers, especially in communication with the government.
● The platform was developed by the Chief Minister's Office (CMO) in collaboration with the
Ministry of Electronics and Information Technology's Bhashini Team under the National
Language Translation Mission (NLTM).
About Gujarat :
● Governor : Acharya Devvrat
● Chief Minister : Bhupendrabhai Patel
● Capital : Gandhinagar
● National Parks: Gir National Park, Marine National Park, Velavadar National Park

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 Important Monthly Current Affairs Capsule – January 2025

● Wildlife Sanctuaries : Jambughoda Wildlife Sanctuary, Barda Wildlife Sanctuary, Vansda

National Park, Purna Wildlife Sanctuary, Gaga Wildlife Sanctuary
Himachal Pradesh Institute of Public Administration to Be Renamed in Honor of Manmohan Singh: CM
Sukhu
● Himachal Pradesh Institute of Public Administration (HIPA) will be renamed in honor of former
Prime Minister Manmohan Singh, as announced by Chief Minister Sukhvinder Singh Sukhu
during the institute’s 50th-anniversary celebrations.
● The renaming serves as a tribute to Manmohan Singh, who passed away on December 26,
2024, at the age of 92.
Assam Launches Northeast's Largest Eri Silk Spinning Mill in Baksa District
● The largest Eri silk spinning mill in the Northeast is located in Baksa district, Assam.
● The mill was set up by the North Eastern Handicrafts and Handlooms Development Corporation
(NEHHDC).
● Built at a cost of Rs 14.92 crore, the mill spans 12,916 square feet at the Integrated Textile Park
in Kharuajan, Mushalpur.
● The mill was inaugurated by Pramod Boro, Chief Executive Member (CEM) of the Bodoland
Territorial Council (BTC).
About Assam :
● Governor : Lakshman Acharya
● Chief Minister : Himanta Biswa Sarma
● Capital : Dispur

Gujarat to Conduct India's First Census of Coastal and Wader Birds at Jamnagar's Marine National Park
and Sanctuary from January 3 to 5
● The Gujarat government will conduct India’s first-ever census of coastal and wader birds at the
Marine National Park and Sanctuary in Jamnagar from January 3 to 5.
● The census will be a joint initiative between the Gujarat State Forest Department and the Bird
Conservation Society of Gujarat.
● Jamnagar is considered a paradise for coastal birds, and this census will focus on counting the
species of wader and coastal birds in the area.
About Gujarat :
● Governor: Acharya Devvrat

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 Important Monthly Current Affairs Capsule – January 2025

● Chief minister: Bhupendrabhai Patel

● Capital: Gandhinagar
● National Park : Vansda National Park, Gir National Park, Marine National Park, Velavadar
National Park
● Wildlife Sanctuaries : Jambughoda Wildlife Sanctuary, Barda Wildlife Sanctuary,
Shoolpaneshwar Wildlife Sanctuary
Uttarakhand Forest Department establishes ethnobotanical garden in Haldwani featuring 37 plant species
from the Mahabharata
● The Uttarakhand Forest Department has developed an ethnobotanical garden, named
"Mahabharata Vatika", in Haldwani, spread over one acre of land.
● The garden showcases 37 plant species mentioned in 18 sections of the Mahabharata,
emphasizing its ecological and environmental knowledge.
● The epic contains hymns on the importance of planting trees, creating water bodies, and
protecting tigers, reflecting ancient environmental awareness.
About Uttarakhand :
● Governor : Gurmit Singh
● Chief Minister : Pushkar Singh Dhami

Chhattisgarh introduces innovative plan linking forest ecosystem services with Green Gross Domestic
Product
● Chhattisgarh has introduced a plan that connects the ecosystem services provided by its forests
to the Green Gross Domestic Product (Green GDP), marking a first in the state.
● Purpose: The initiative aims to highlight the direct link between the environmental contributions of
forests (clean air, water conservation, biodiversity) and the state's economic progress.
● Forests' Significance:44% of Chhattisgarh's land is covered by forests, making its natural
resources vital to the livelihoods of millions.
About Chhattisgarh :
● Governor : Ramen Deka
● Chief Minister : Vishnu Deo Sai
● Capital : Raipur
Jharkhand Chief Minister Hemant Soren Transfers ₹1,415.44 Crore to 56.61 Lakh Women Under Maiya
Samman Yojana

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 Important Monthly Current Affairs Capsule – January 2025

● Jharkhand Chief Minister Hemant Soren transferred ₹1,415.44 crore to 56.61 lakh women under
the Maiya Samman Yojana on January 6, 2024.
● The scheme was a key promise made by the Jharkhand Mukti Morcha (JMM)-led INDIA bloc
ahead of the Assembly elections.
● The scheme increased the monthly transfer to women from ₹1,000 to ₹2,500 for women aged
between 18 to 50 years.
About Jharkhand :
● Governor : Santosh Gangwar
● Chief Minister : Hemant Soren
● Capital : Ranchi
Uttar Pradesh Becomes First State to Abolish Tendering System and Fully Integrate Procurement with
Govt e-Marketplace (GeM)
● Uttar Pradesh (UP) has become the first state in India to abolish its longstanding tendering
system.
● The state has fully integrated its procurement process with the Centre's Govt e-Marketplace
(GeM).
● The integration requires all service providers—from basic stationery suppliers to those providing
SUVs for official use—to adhere to central government regulations.
About UP :
● Governor : Anandiben Patel
● Chief Minister : Yogi Adityanath
● Capital : Lucknow
Haryana set to implement three new criminal laws by February 28, says DGP Shatrujeet Kapur
● Haryana is set to become the first state to implement the new criminal laws in their entirety,
following Chandigarh, the first union territory to do so.
● The expected implementation date is February 28, 2025, ahead of the Union Ministry of Home
Affairs’ deadline of March 31, 2025.
● Bharatiya Nyaya Sanhita (BNS): Replaces the Indian Penal Code, 1860.
● Bharatiya Sakshya Sanhita (BSS): Replaces the Indian Evidence Act, 1872.
About Haryana :
● Governor : Bandaru Dattatreya
● Chief Minister : Nayab Singh Saini

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 Important Monthly Current Affairs Capsule – January 2025

● Capital : Chandigarh

Flamingo Festival to Start on January 18 in Tirupati District

● The Flamingo Festival will be held after a gap of five years in Tirupati district, Andhra Pradesh,
from January 18 to 20, 2025.
● The festival will be spread across five locations in the region:
o Nelapattu
o B.V. Palem
o Atakanithippa
o Sri City
o Sullurpeta
● with the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) for better
accessibility and sustainability.

West Bengal government announces new initiatives to attract pilgrims to Gangasagar Mela
● The Gangasagar Mela, held annually at the confluence of the Ganga with the Bay of Bengal in
West Bengal during the Makar Sankranti festival, is a significant pilgrimage for millions. The
following are the key updates for this year:
● Bandhan Initiative: Pilgrims participating in the mela will receive a certificate in three languages
as part of the new initiative to enhance their experience.
● e-Anushandhan Platform: This will allow pilgrims to access facilities at the mela ground easily.
About West Bengal:
● Governor: C.V. Ananda Bose
● Chief Minister: Mamata Banerjee
● Capital: Kolkata
● National Parks: Sundarbans National Park, Jaldapara National Park, Buxa Tiger Reserve,
Gorumara National Park, Siliguri National Park, Neora Valley National Park,
Odisha Joins as the 34th State to Implement Ayushman Bharat
Pradhan Mantri Jan Arogya Yojana Scheme
● Odisha became the 34th state to implement AB PM-JAY after a Memorandum of Understanding
(MoU) was signed between the National Health Authority (NHA) and the Government of Odisha.

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 Important Monthly Current Affairs Capsule – January 2025

● The scheme will be implemented in convergence with the existing Gopabandhu Jan Arogya
Yojana (GJAY) in Odisha.
● Coverage:Provides a health cover of ₹5 lakh per family per year, with an additional ₹5 lakh for
women members.
● Around 1.03 crore families will benefit from the converged scheme, with 67.8 lakh families
supported by the Union Government.
● AB PM-JAY is the world’s largest health assurance scheme, aiming to cover over 500 million
vulnerable people across India with ₹5 lakh health coverage per family per year.
About Odisha :
● Governor : Kambhampati Hari Babu
● Chief Minister : Mohan Charan Majhi
● Capital : Bhubaneswar
About Ministry of Health and Family Welfare :
● Cabinet Minister : J. P. Nadda
● Minister of State : Anupriya Patel, Prataprao Ganpatrao Jadhav
Odisha Announces Rs 20,000 Monthly Pension for Those Imprisoned During Emergency
● The Odisha government has announced a monthly pension of ₹20,000 for people who were
imprisoned during the 1975 Emergency imposed by Prime Minister Indira Gandhi.
● The pension scheme will be effective from January 1, 2025.
● Odisha joins other states like Haryana, Madhya Pradesh, Chhattisgarh, Jharkhand, Rajasthan,
and Assam, which have similar pension schemes for Emergency detainees.
● The scheme includes coverage for all medical expenses of the eligible detainees.
● Eligibility Criteria:Individuals arrested under the Maintenance of Internal Security Act, Defence of
India Rules (DIR), and The Defence and Internal Security of India Rules during the Emergency
period from June 25, 1975, to March 21, 1977.
Andhra Pradesh Government Designates Ratha Saptami as State Festival
● The Andhra Pradesh (AP) government has declared Ratha Saptami as a State festival to be
celebrated over three days at the Sri Suryanarayana Swamy temple in Arasavalli, Srikakulam
district.
● The decision followed a proposal from the Endowments Commissioner, highlighting the temple’s
significance and the large number of devotees visiting from Andhra Pradesh, Odisha, and
Telangana.

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 Important Monthly Current Affairs Capsule – January 2025

● The Sri Suryanarayana Swamy temple generates an annual income of ₹11.26 crore, showcasing
its financial stability and the ability to support the festival without requiring government funding.
About Andhra Pradesh :
● Governor : Syed Abdul Nazeer
● Chief Minister : N. Chandrababu Naidu
● Capital : Amaravati
Sports Authority of Andhra Pradesh Launches 'Kreeda App' to Modernize Sports Management

● The Sports Authority of Andhra Pradesh (SAAP) launched the 'Kreeda App', a first-of-its-kind
mobile application in India, aimed at modernizing and streamlining sports management in the
state.
● Objectives of the App:The app is designed to eliminate malpractices in the issuance of sports
quota certificates.
● It provides a unified platform for managing comprehensive sports data, ensuring transparency
and efficiency in sports administration.
Arunachal Pradesh Chief Minister Inaugurates Pangsau Pass International Festival at Nampong
● Arunachal Pradesh’s Chief Minister Pema Khandu inaugurated the much-anticipated Pangsau
Pass International Festival (PPIF), marking a vibrant return of the event after a four-year break.
● The festival, held at Nampong in the Changlang district, last took place in 2020 before being
suspended in 2021 due to the COVID-19 pandemic.
● This year’s festival, running from January 20 to 22,2025 showcases the rich cultural tapestry of the
region, featuring cultural troupes from 26 diverse tribal communities alongside three groups from
Myanmar.
About Arunachal Pradesh:
● Chief Minister: Pema Khandu
● Governor: Kaiwalya Trivikram Parnaik
● Capital: Itanagar
● National Parks: Namdapha National Park, Mouling National Park, Mehao Wildlife Sanctuary,
Eaglenest Wildlife Sanctuary,
● Wildlife Sanctuaries: Pakke Tiger Reserve, Kamlang Wildlife Sanctuary, Dampa Tiger Reserve,
Daying Ering Wildlife Sanctuary
Uttarakhand Cabinet, Led by Pushkar Singh Dhami, Approves Implementation of Uniform Civil Code

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 Important Monthly Current Affairs Capsule – January 2025

(UCC)
● Uttarakhand’s Pushkar Singh Dhami Cabinet approved the UCC manual of rules on January 20,
2025.
● Uttarakhand will become the first state to implement the Uniform Civil Code.
● Rules will be announced after local body elections on January 23, 2025.
● The draft was prepared by a 5-member panel led by retired judge Ranjana Prakash Desai.
● The Uniform Civil Code Bill 2024, was passed in the Assembly on February 7, 2024, and notified
on March 12, 2024, after the President’s assent.
About Uttarakhand:
● Chief Minister: Pushkar Singh Dhami
● Governor: Gurmit Singh
● Capital: Dehradun
● National Parks: Jim Corbett National Park, Nanda Devi National Park, Rajaji National Park,
Gangotri National Park, Valley of Flowers National Park
● Wildlife Sanctuaries: Kedarnath Wildlife Sanctuary, Askot Wildlife Sanctuary, Binsar Wildlife
Sanctuary, Govind Wildlife Sanctuary, Sonanadi Wildlife Sanctuary, Nandi Devi Wildlife Sanctuary
After Tamil Nadu, Kerala passes resolution urging Centre to scrap University Grants Commission (UGC)
regulations
● Kerala Chief Minister Pinarayi Vijayan presented a resolution in the Kerala Legislative Assembly,
urging the Centre to withdraw the 2025 University Grants Commission (UGC) draft regulations and
introduce new norms after engaging in discussions with state governments and academic experts.
● The resolution was passed
● In support, Higher Education Minister R Bindu mentioned that Kerala is coordinating with other
states, including Tamil Nadu, which also passed a similar resolution earlier this month, highlighting
concerns over increased powers for Governors in appointing Vice Chancellors.
About Kerala:
● Chief Minister: Pinarayi Vijayan
● Governor: Rajendra Vishwanath Arlekar
● Capital: Thiruvananthapuram
● National Parks: Eravikulam National Park, Periyar Wildlife Sanctuary, Silent Valley National Park,
Parambikulam Tiger Reserve
● Wildlife Sanctuaries: Wayanad Wildlife Sanctuary, Idukki Wildlife Sanctuary, Chilika Lake Wildlife

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 Important Monthly Current Affairs Capsule – January 2025

Sanctuary
Haryana Government Notifies Vehicle Scrappage and Recycling Facility Incentive Policy 2024
● The Haryana Government has notified the Vehicle Scrappage and Recycling Facility Incentive
Policy, 2024, which will enable proper disposal and recycling of old vehicles while promoting
environmental sustainability National Green Tribunal (NGT) fixed the passing limit period of 10
years for old diesel vehicles and 15 years for petrol vehicles in the National Capital Region (NCR)
● The government planned to implement the policy as an industrial scheme, offering capital
subsidies or state GST reimbursement to new industrial units.
● Under the policy, the Department of Industries and Commerce would develop a 10-yearland
leasing module through the Haryana State Industrial and Infrastructure Development Corporation
(HSIIDC).
About Haryana:
● Chief Minister: Nayab Singh Saini
● Governor: Bandaru Dattatreya
● Capital: Chandigarh
● National Parks: Sultanpur National Park, Kalesar National Park
● Wildlife Sanctuaries: Bhindawas Wildlife Sanctuary, Nahar Wildlife Sanctuary, Kalesar Wildlife
Sanctuary
National Conference on Good Governance 2025: Advancing Citizen-Centric Reforms
● Department of Administrative Reforms and Public Grievances (DARPG), Ministry of Personnel,
Public Grievances, and Pensions, Government of India, in collaboration with the Government of
Gujarat.
● Theme: “Maximum Governance – Minimum Government”, inspired by the vision of Prime Minister
Narendra Modi.
● Venue and Date: 30th–31st January 2025, Gandhinagar, Gujarat.
Odisha Government Launches Programme to Empower Local Communities in Forest Management
● The Odisha government has launched a programme aimed at empowering local communities
in forest management by providing direct funding for forest protection and management to 100
villages.
● The funds will be deposited into the bank accounts of village councils, or gram sabhas, marking a
significant shift in the management of forest resources and placing greater responsibility in the
hands of local communities.

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 Important Monthly Current Affairs Capsule – January 2025

● The Union Ministry of Tribal Affairs’ Project Appraisal Committee (PAC) approved Community
Forest Resource (CFR) plans for these 100 villages, which are part of the Forest Rights Act.
About Odisha:
● Chief Minister: Mohan Charan Majhi
● Governor: Hari Babu Kambhampati
● Capital: Bhubaneswar
● National Parks: Simlipal National Park, Bhitarkanika National Park
● Wildlife Sanctuaries: Chilika Wildlife Sanctuary, Debrigarh Wildlife Sanctuary, Nandankanan
Wildlife Sanctuary
Mizoram Leads Northeast India in Distributing Survey of villages and mapping with improvised technology
in village areas (SVAMITVA) Property Cards
● Mizoram has become the first state in Northeast India to distribute property cards under
the SVAMITVA (Survey of villages and mapping with improvised technology in village areas)
scheme.
● Governor Gen (Dr) VK Singh, PVSM, AVSM, YSM (Retd), virtually participated in the distribution
event from Raj Bhavan.
● Prime Minister Narendra Modi graced the occasion and handed out over 65 lakh property cards to
beneficiaries across 10 states and 2 union territories.
About Mizoram:
● Chief Minister: Lalduhoma
● Governor: Vijay Kumar Singh
● Capital: Aizawl
● National Parks: Murlen National Park, Ngengpui National Park
● Wildlife Sanctuaries: Dampa Wildlife Sanctuary, Lengteng Wildlife Sanctuary, Tawi Wildlife
Sanctuary
Chhattisgarh Chief Minister Launches ‘Deendayal Upadhyay Bhoomiheen Krishi Majdoor Kalyana
Yojana’
● Chhattisgarh Chief Minister Vishnu Deo Sai launched the ‘Deendayal Upadhyay Bhoomiheen
Krishi Majdoor Kalyana Yojana’ in Raipur.
● Financial Assistance: Over 62 lakh landless agricultural laborers, including Baigas and Gunias,
will receive ₹10,000 annually.
● Total Funds Released: An amount exceeding ₹562 crore was disbursed to the scheme’s

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 Important Monthly Current Affairs Capsule – January 2025

beneficiaries.
● CM Sai described January 20 as a “proud and historic day” for the state’s urban bodies,
emphasizing the commitment to welfare and development.
About Chhattisgarh:
• Chief Minister: Vishnu Deo Sai
• Governor: Ramen Deka
• Capital: Raipur
• National Parks: Indravati National Park, Kanger Valley National Park
• Wildlife Sanctuaries: Achanakmar Wildlife Sanctuary, Barnawapara Wildlife Sanctuary, Sitanadi Wildlife
Sanctuary
Kerala Chief Minister Launches KaWaCHaM: Advanced Disaster Warning System
● Chief Minister Pinarayi Vijayan inaugurated the Kerala Warnings, Crisis and Hazard Management
System (KaWaCHaM) at the Kerala State Disaster Management Authority (KSDMA) headquarters
in Thiruvananthapuram.
● KaWaCHaM is a state-of-the-art disaster risk warning system aimed at ensuring swift rescue
operations and timely alerts in disaster-prone areas.
● Collaboration: Developed by KSDMA in partnership with the National Disaster Management
Authority (NDMA) and the World Bank under the National Cyclone Mitigation Plan.
About Kerala:
● Chief Minister: Pinarayi Vijayan
● Governor: Rajendra Vishwanath Arlekar
● Capital: Thiruvananthapuram
● National Parks: Eravikulam National Park, Periyar Wildlife Sanctuary, Silent Valley National Park,
Parambikulam Tiger Reserve
● Wildlife Sanctuaries: Wayanad Wildlife Sanctuary, Idukki Wildlife Sanctuary, Chilika Lake Wildlife
Sanctuary
Haryana Chief Minister inaugurates 324 new creche centres on completion of 100 days of government
● Haryana Chief Minister Nayab Singh Saini inaugurated 324 crèches across the state, aimed at
assisting working women and providing a safe environment for their children.
● All women Sarpanches will now serve as brand ambassadors of their villages to accelerate the
‘Beti Bachao, Beti Padhao‘ campaign.
● Under the ‘Bima Sakhi Yojana,‘ women will earn a monthly salary along with insurance

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 Important Monthly Current Affairs Capsule – January 2025

commissions and additional incentives.

● The ‘Har Ghar-Har Grihini Yojana‘ provides gas cylinders to 13.24 lakh poor families for
only ₹500 per month.
● The honorarium for Anganwadi workers and assistants has been increased by ₹750 and ₹400,
● The ‘Lakhpati Didi Yojana’ aims to empower 5 lakh women by supporting micro-enterprises,
with 1.85 lakh women already benefiting from the scheme.
● Drone pilot training will be provided to 5,000 women under the ‘Namo Drone Didi’ vision, with 100
women already receiving free drones worth ₹8 lakh each.
Telangana government begins disbursal of Rythu Bharosa benefits
● The Rythu Bharosa scheme is one of the four welfare programmes launched on Republic Day,
January 26, alongside the Indiramma Housing Scheme, Indiramma Atmeeya Bharosa Scheme,
and the issuance of new ration cards.
● On the first day, 6,15,677 people across 563 villages benefited from these schemes.
● Under the Rythu Bharosa scheme, the government disbursed Rs 569 crore to 4,41,911
farmers in 577 villages, covering 9,48,333 acres of cultivable land. Farmers receive Rs 6,000 per
acre per season as crop investment support, and the scheme will continue disbursements
until March 31.
● Through the Indiramma Aatmeeya Bharosa Scheme, the government credited Rs 10.91 crore into
the accounts of 18,180 landless agriculture labourers, providing Rs 6,000 per season as financial
assistance.
About Telangana:
● Capital: Hyderabad
● Governor: Jishnu Dev Varma
● Chief Minister: Anumula Revanth Reddy
● National Parks: Kasu Brahmananda Reddy National Park, Mrugavani National Park, Mahavir
Harina Vanasthali National Park
● Wildlife Sanctuaries: Kawal Wildlife Sanctuary, Pocharam Wildlife Sanctuary, Manjira Wildlife
Sanctuary
Assam to develop Dibrugarh as second capital: Chief Minister Himanta Biswa Sarma’s Announcement
● Assam Chief Minister Himanta Biswa Sarma announced that Dibrugarh, located 478 km east of
Guwahati, will be developed into the state’s second capital within the next three years.
● This move is part of a larger plan to distribute administrative functions more evenly across the

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 Important Monthly Current Affairs Capsule – January 2025

state, enhance development, and cater to the diverse population.

● Historically, Shillong served as Assam’s capital during the British colonial
era until Meghalaya became a separate state in 1972, after which Guwahati became the capital
in 1973.
About Assam:
● Chief Minister: Himanta Biswa Sarma
● Governor: Lakshman Prasad Acharya
● Capital: Dispur
● National Parks: Kaziranga National Park, Manas National Park, Dibru-Saikhowa National Park
● Wildlife Sanctuaries: Pobitora Wildlife Sanctuary, Orang National Park, Bura-Chapori Wildlife
Sanctuary, Nameri Wildlife Sanctuary
Uttarakhand Government Implements Uniform Civil Code; Chief Minister Releases Rules and Launches
Portal
● Uttarakhand becomes the first state in India to implement the Uniform Civil Code (UCC), aiming to
standardise personal laws across all religions, ensuring equality and constitutional rights for all
citizens, especially women.
● Portal Features:
o Available in Hindi and English, and accessible in 23 languages.
o Services include live-in relationship registration, certificate downloading and verification.
About Uttarakhand:
● Chief Minister: Pushkar Singh Dhami
● Governor: Gurmit Singh
● Capital: Dehradun
● National Parks: Jim Corbett National Park, Nanda Devi National Park, Rajaji National Park,
Gangotri National Park, Valley of Flowers National Park
● Wildlife Sanctuaries: Kedarnath Wildlife Sanctuary, Askot Wildlife Sanctuary, Binsar Wildlife
Sanctuary, Govind Wildlife Sanctuary, Sonanadi Wildlife Sanctuary, Nandi Devi Wildlife Sanctuary

BUSINESS NEWS
Centre's Dividend Receipts from CPSEs Likely to Exceed FY25 Target

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 Important Monthly Current Affairs Capsule – January 2025

● The Indian government has received ₹48,376 crore in dividend receipts from Central Public
Sector Enterprises (CPSEs) and other investments, amounting to 86% of the annual target for
the current financial year.
● Dividend Performance:
o Dividend receipts are expected to surpass ₹60,000 crore for the second consecutive year
in FY25, exceeding the ₹56,260 crore target.
India Should Establish Digital Asset Regulatory Authority (DARA) by 2025, Report Suggests
● According to the Crypto Outlook 2024-2025 report by Blue Aster Capital and Crebaco Global,
India should establish a Digital Asset Regulatory Authority (DARA) by the end of 2025 or early
2026.
● This call comes as India’s role in the global crypto ecosystem continues to grow.
● India accounts for 11.8% of global crypto developers and 5.4% of Web3 creators.
Rural and Urban Poverty Decline in India: Key Insights from SBI Research
● Rural poverty has sharply reduced to 4.86% in FY 2024 from 25.7% in 2011-12.
● This decline is primarily driven by government support programs and higher consumption growth
in the lowest 0-5% decile.
● Urban poverty has also decreased to 4.09% in FY 2024, down from 13.7% in 2011-12.
● It is expected that urban poverty may decline further, and overall poverty rates in India could be
in the range of 4-4.5%, with minimal extreme poverty.

Nomura Revises India's FY25 GDP Growth Forecast to 6.7%

● Nomura has revised India’s GDP growth forecast for FY25 down to 6.7%, from the earlier
estimate of 6.9%.
● This adjustment reflects a slowdown in the economy, influenced by several factors.
● Government Spending: A reduction in government expenditure, especially during the national
elections, contributed to a slowdown in economic growth.
● Goldman Sachs and J.P. Morgan have maintained more optimistic forecasts for India, both
projecting a 6.5% growth rate for FY25, indicating a divergence in outlooks within the financial
sector.

Dharavi Redevelopment Project Rebranded as Navbharat Mega Developers Private Ltd

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 Important Monthly Current Affairs Capsule – January 2025

● Dharavi Redevelopment Project Private Ltd (DRPPL), backed by the Adani Group, has been
renamed Navbharat Mega Developers Private Ltd (NMDPL) to avoid confusion with the Dharavi
Redevelopment Authority (DRA), a Maharashtra government entity.
● Board and Ministry Approval: The rebranding received approval from the board of directors and
the Ministry of Corporate Affairs.
● Government's Role Unchanged: The Maharashtra government, through the DRA, will continue as
the supervising authority for the project, ensuring its pivotal role remains intact.

EEPC Proposes Faceless GST Audit System to Enhance Ease of Doing Business
● The Engineering Export Promotion Council (EEPC), India has proposed the introduction of a
faceless GST audit system as part of its Budget 2025 recommendations.
● Inspired by the success of faceless assessment by the Income Tax department, the proposal
aims to boost efficiency and reduce compliance burdens.
● Reduce compliance costs through anonymity and technology.
GST Collections Dip to 3-Month Low in December but Show Year-on-Year Growth
● Collection from Goods & Services Tax (GST) dipped to a 3-month low in December to ₹1.76 lakh
crore.
● However, this marks an increase of nearly 7 per cent from ₹1.65 lakh crore collected in the same
month 2023.
● Total GST Collection: ₹1.76 lakh crore in December 2024, a 3-month low, but a 7% increase
from ₹1.65 lakh crore in December 2023.
Blinkit Launches 10-Minute Ambulance Service in Gurgaon
● Blinkit, a quick-commerce platform, has introduced a 10-minute ambulance service in select
areas of Gurgaon.
● Testing Phase: Currently operational with five ambulances, the service is in its pilot stage.
● Affordable and Non-Profit Model: CEO Albinder Dhindsa emphasized that the initiative aims to
solve a critical problem, with profit not being the focus.
Government Forms Working Group to Revise WPI Base Year to 2022-23
● The government has constituted an 18-member working group, led by NITI Aayog Member
Ramesh Chand, to revise the Wholesale Price Index (WPI) base year from 2011-12 to 2022-23.
● This update is part of a regular revision process to reflect changes in the economy and ensure a
realistic representation of price trends.

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 Important Monthly Current Affairs Capsule – January 2025

India’s Services Sector Shows Strong Growth in December 2024

● India’s services sector ended 2024 on a high note, with the HSBC India Services Business
Activity Index (Services PMI) rising to 59.3 in December, marking the strongest rate of expansion
in four months.
● This growth was driven by sustained demand, higher new business inflows, and increased
recruitment.
● The index reflects a significant increase in business activity, signaling strong optimism for the
future.
● December PMI: 59.3, up from 58.4 in November, signaling continued expansion.

Launch of PLI Scheme 1.1 for Specialty Steel: A Step Towards Self-reliance and Industry Growth
● Union Minister of Steel and Heavy Industries, Shri H.D. Kumaraswamy, launched the second
round of the Production Linked Incentive (PLI) Scheme for Specialty Steel, also known as PLI
Scheme 1.1, at Vigyan Bhavan in New Delhi.
● This initiative aims to further strengthen India's position in the global steel industry by
encouraging domestic manufacturing of value-added steel grades, fostering innovation, and
reducing reliance on imports.
● Budget Allocation: The scheme will operate within the originally allocated funds of ₹6,322 crore.

Edelweiss Financial Services: NCD Public Issue Announcement

● Edelweiss Financial Services announced the public issue of Secured Redeemable Non-
Convertible Debentures (NCDs) of the face value of Rs 1,000 each for an amount up to Rs 100
crore (Base Issue Size), with a green shoe option of up to Rs 100 crore, cumulatively
aggregating up to Rs 200 crore (Issue Limit).
● Type: Secured Redeemable Non-Convertible Debentures (NCDs)
● Face Value per NCD: ₹1,000
● Base Issue Size: ₹100 crore
● Green Shoe Option: ₹100 crore
● Total Issue Size: ₹200 crore

IIFCL to Raise $200 Million via ECB and Expand Borrowing Plans

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 Important Monthly Current Affairs Capsule – January 2025

● India Infrastructure Finance Company Ltd (IIFCL) will raise $200 million through External
Commercial Borrowing (ECB) this month, confirmed Managing Director P. R. Jaishankar.
● Plans to raise ₹8,000 crore from borrowings, including overseas institutions, during Q4 of
FY2024 (January-March quarter).

Microsoft Announces US $3 Billion Investment in India’s Cloud and AI Infrastructure

● Satya Nadella, Chairman and CEO of Microsoft, revealed the company’s plan to invest US $3
billion in India over the next two years.
● This investment will focus on cloud and AI infrastructure and skilling programs, aimed at
advancing AI innovation and supporting India's goal of becoming a developed nation (Viksit
Bharat) by 2047.
NMDC Reduces Iron Ore Prices by ₹350 Per Tonne
● State-owned miner NMDC (National Mineral Development Corporation)has announced a price
reduction of ₹350 per tonne for both lump and fine iron ore, effective January 9, 2025.
● Updated Prices
● Lump Ore (10-40 mm, Fe content 67%):
o New Price: ₹6,000 per tonne
● Fines (less than 10 mm, Fe content 64%):
o New Price: ₹5,060 per tonne

Government Subsidy of ₹35,000 Crore for State-Owned Fuel Retailers

● The Indian government is set to provide a ₹35,000 crore subsidy to state-owned fuel retailers—
Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan
Petroleum Corporation Ltd (HPCL)—to offset losses incurred due to regulated pricing of domestic
LPG.
● Price Freeze and Under-Recoveries:
o Domestic LPG prices have remained fixed at ₹803 per 14.2-kg cylinder since March 2024,
despite rising input costs.
o This has led to an estimated under-recovery of ₹40,500 crore for the fiscal year 2024-25.
o Under-recovery per cylinder is approximately ₹240.
India's Economic Growth Projection for 2025: 6.6% Expansion

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 Important Monthly Current Affairs Capsule – January 2025

● The Indian economy is expected to grow by 6.6% in 2025, driven by strong private consumption
and investment, according to the UN World Economic Situation and Prospects 2025 report.
● South Asia's Robust Growth:Economic growth in South Asia is forecast to remain strong, with a
5.7% growth in 2025 and 6.0% in 2026, primarily propelled by India's strong performance.
● Other regional economies like Bhutan, Nepal, and Sri Lanka are also expected to experience
economic recovery.
Syrma SGS Technology to Manufacture MSI Laptops in India
● In a significant move to boost local manufacturing, Syrma SGS Technology Limited will begin
assembling MSI laptops in India, catering to the Indian market.
● This partnership aligns with India's Make in India initiative, with plans to localize MSI's production
in phases.
● The collaboration will start with laptop assembly at Syrma SGS's Chennai facility.
● Phased localization of MSI's manufacturing in India is planned for the future.

Ariqt Opens Global Innovation Hub in Hyderabad

● Ariqt, a Netherlands-based AI-driven technology company, has launched its Global Innovation
Hub (GIH) in Hyderabad, marking its entry into the Indian market.
● The facility will focus on AI-driven innovations and research and development across sectors like
fintech, agriculture, sports, cybersecurity, travel, and supply chain.
● Ariqt’s Decision to Settle in Hyderabad:
o Ariqt Founder & CEO, Rupesh Kumar, praised Hyderabad’s thriving ecosystem and the
government's leadership in making the city an ideal location for innovation and growth.
o The decision to launch the hub underscores Ariqt's vision to create impactful AI
innovations and contribute to the global technological landscape.
Short-Term Funding Costs Spike Amid Tight Liquidity Conditions
● The rates for Commercial Paper (CP) and Certificates of Deposit (CD) have seen significant
increases in January 2025, reflecting the tightening liquidity in the financial system.
● Commercial Paper (CP):
Rates have increased by 10–13 basis points (bps) across tenures.
This rise signals higher borrowing costs for entities raising short-term funds.
● Certificate of Deposit (CD):

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 Important Monthly Current Affairs Capsule – January 2025

o Rates rose by 20–30 bps, trading in the range of 7.40% to 7.51%, compared to 7.10% to
7.20% in the previous month.

Jawaharlal Nehru Port Authority (JNPA) Aims for 10 Million TEU Capacity
● 2024 Performance:
In 2024, JNPA achieved a record-breaking 7.05 million TEU handling, the highest in the port's
history, indicating robust growth.
● Vadhvan Port Project:
JNPA's growth strategy includes a strong focus on the under-construction Vadhvan Port, which,
upon completion, will have a capacity of 23.2 million TEU.
Vadhvan Port is expected to emerge as one of the top 10 container-handling ports globally,
further strengthening India's maritime infrastructure.
WPI Inflation Climbs to 2.37% in December, Up from 1.89% in November
● India's wholesale inflation rose to 2.37% in December 2024, up from 1.89% in November 2024.
● Key Contributors to the Rise: The increase in inflation was driven by fuel and power and primary
non-food articles, which together contributed 42 basis points (bps) out of the 48 bps increase in
wholesale prices.
● Food Prices: Despite the overall inflation rise, food prices eased, with food inflation dipping below
9% for the first time in December, falling to 8.4%.
What is Wholesale Price Index:
● The wholesale price index (WPI) is the price of a representative basket of wholesale goods.
● The WPI is published by the Economic Adviser in the Ministry of Commerce and Industry.
● The Wholesale Price Index focuses on the price of goods traded between corporations, rather
than the goods bought by consumers, which is measured by the Consumer Price Index.

Reliance Jio rolls out Internet to Siachen Glacier, the world's highest battlefield
● Reliance Jio has successfully deployed the first-ever 5G site in the Siachen Glacier, marking a
significant achievement for both the telecom company and the Indian Army.
● This development is crucial as the Siachen Glacier, the highest battlefield in the world, had
previously lacked reliable connectivity.
● The 5G network will enable seamless communication for soldiers in this remote and challenging
region, enhancing critical communication capabilities.

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 Important Monthly Current Affairs Capsule – January 2025

● Fire and Fury Corps, the Indian Army division responsible for Siachen, collaborated with Jio
Telecom to install the 5G mobile tower.
A majority of chief economists worldwide predict weaker global economic conditions in 2025, according
to the latest Chief Economists Outlook by the World Economic Forum (WEF)
● According to the World Economic Forum's Chief Economists Outlook, most economists predict
weaker global economic conditions in 2025.
● 56% of chief economists foresee an economic downturn, while only 17% predict improvements,
highlighting uncertainty across key global regions.
● This situation calls for cautious policy responses to manage the anticipated challenges
effectively.
● Despite global challenges, South Asia is seen as a bright spot in the global economic landscape,
with 61% of economists predicting strong or very strong growth for the region.
● Similarly, Europe is also projected to struggle, with 74% of economists predicting weak or very
weak growth for the region.
● The global trade environment is undergoing notable changes, with 48% of economists expecting
an increase in global trade volumes in 2025, reflecting global resilience.
● In India, sectors such as agriculture and processed food have shown strong growth, with exports
rising over 11% to $17.77 billion in the April-December 2024 period.
● The steel industry is also expected to witness strong growth, with domestic steel demand
projected to outpace other economies in 2025, driven by infrastructure development and
manufacturing.
● Meanwhile, power companies are likely to report strong earnings for Q3 2024, indicating
resilience in the energy sector.
About World Economic Forum (WEF):
● Formation: 24 January 1971
● Headquarters: Cologny, Switzerland
● Executive Chairman: Klaus Schwab
● President: Børge Brende

According to the World Bank report, India's GDP growth rate is to remain steady at 6.7% for the next two
fiscal years

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 Important Monthly Current Affairs Capsule – January 2025

● According to a World Bank report on South Asia's growth estimates, India's economic growth is
projected to remain steady at 6.7% per year for the next two fiscal years, beginning April 2025.
● This indicates a stable outlook for the Indian economy, despite challenges faced in the current
fiscal year.
● South Asia Growth: Overall growth for the region (excluding India) is expected to reach 3.9% in
2024 and 4.0% in 2025, improving further to 4.3% by 2026.
o Pakistan and Sri Lanka are expected to show signs of recovery, supported by better
macroeconomic policies.
Expert Predictions for FY25
● FICCI Economic Outlook Survey: Projects 6.4% GDP growth for 2024-25, a decline from the
previous 7% estimate.
● Ministry of Statistics: Also sees 6.4% growth.
● BofA Securities India: Projects 6.5% growth for the fiscal year.
● Acuité Ratings & Research: Predicts 6.4% growth.
● CareEdge Ratings: Predicts 6.5% growth.
● Nomura: Forecasts 6.7% growth.
● Reserve Bank of India: Has lowered its forecast to 6.6% growth for FY25.
About World Bank:
● Established: July 7, 1944
● Headquarters: Washington, D.C., U.S.
● Membership:
o 189 countries (IBRD - International Bank for Reconstruction and Development)
o 174 countries (IDA - International Development Association)
● President: Ajay Banga
● Managing Director and CFO: Anshula Kant
● Chief Economist: Indermit Gill

FICCI forecasts India's GDP growth at 6.4% for 2024-25 amid global and domestic headwinds
● The Federation of Indian Chambers of Commerce & Industry (FICCI) Economic Outlook Survey
projects India's GDP growth at 6.4% for the financial year 2024-25, reflecting a slowdown from
the previous forecast of 7% and the 8.2% growth in 2023-24.

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 Important Monthly Current Affairs Capsule – January 2025

● The moderation is attributed to global headwinds, geopolitical tensions, and uneven recovery in
advanced economies.
● The agricultural sector is projected to grow by 3.6%, while the industrial and services sectors are
expected to grow by 6.3% and 7.3%, respectively.
● Inflation is expected to ease, with the Consumer Price Index (CPI) inflation projected at 4.8%, in
line with the Reserve Bank of India's forecast, offering relief to consumers and stimulating rural
demand.
About FICCI:
● Formation: 1927
● Founder: Ghanshyam Das Birla, Purshottamdas Thakurdas
● Headquarters: New Delhi, India
● President: Harsha Vardhan Agrawal
IMF Retains India's Growth Forecast at 6.5% for FY25 and FY26
● The International Monetary Fund (IMF) has maintained its growth projection for India at 6.5% for
FY25 and FY26, despite noting a sharper-than-expected slowdown in economic activity.
● The updated forecast was included in the World Economic Outlook report released .
● GDP Growth:
o FY25: Forecast at 6.5%, compared to 6.8% in FY24.
o FY26: Predicted to return to 6.8%.
● Private Consumption: Private final consumption expenditure (PFCE) growth slowed to 6% in the
September 2024 quarter, compared to 7.4% in the preceding quarter.
● World Economy Growth: Projected to grow at 3.3% in 2025 and 2026, driven by recovery in
certain regions.
● Major Economies:
o US: Growth projected at 2.7% (2025) and 2.1% (2026).
o China: Expected to grow at 4.6% (2025) and 4.5% (2026).
Government Sets Target to Form 10,000 Farmer Producer Organisations (FPOs) by FY25
● The Indian government aims to establish 10,000 new Farmer Producer Organisations (FPOs) by
the end of FY25, five years after the launch of the central sector scheme for their formation.
● This initiative, which began in 2020 with a budget of Rs 6,865 crore, has already seen the
registration of 9,268 FPOs as cooperatives and producers' companies, with 732 more
registrations pending.

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 Important Monthly Current Affairs Capsule – January 2025

Goldman Sachs Fined ₹40 Lakh by CCI for Failing to Notify Biocon Investment
● The Competition Commission of India (CCI) has imposed a penalty of ₹40 lakh on Goldman
Sachs (India) Alternative Investment Management Private Limited (GS AIMPL) for not notifying
its investment in Biocon Biologics Limited (Biocon) under the Competition Act, 2002.
● The regulator determined that Goldman Sachs’ acquisition of optionally convertible debentures
(OCDs) in Biocon, which would amount to a 3.81% stake on a fully diluted basis, should have
been reported as a notifiable transaction.
Indian CEOs Optimistic About Economic Growth and Investment Plans: PwC Survey
● India is among the top countries for CEO investment plans and economic growth confidence,
according to PwC’s annual CEO survey.
● 87% of Indian CEOs are confident about the country’s economic growth, far exceeding the global
average of 57%.
● 74% of Indian CEOs are very confident about their companies’ revenue growth over the next three
years.
India Cements Posts ₹116.52 Crore Q3 Profit, Boosted by Investment Sale
● India Cements Ltd reported a consolidated net profit of ₹116.52 crore in Q3 FY25, a significant
improvement from a net loss of ₹6.58 crore in the same period last fiscal.
● The profit was largely driven by gains from the sale of investments amounting to ₹584.23 crore.
● Revenue Decline:
o Consolidated revenue from operations stood at ₹940.81 crore, down from ₹1,113.06
crore in the corresponding period last year.
● Increased Expenses:
o Total expenses for the quarter rose to ₹1,259.53 crore, compared to ₹1,182.70 crore in the
year-ago period.
India’s First eVTOL Air Taxi Prototype ‘Shunya’ Unveiled by Sarla Aviation
● Sarla Aviation, a Bengaluru-based aerospace startup, has launched ‘Shunya’, India’s first electric
vertical take-off and landing (eVTOL) air taxi prototype.
● The initiative represents a significant step toward urban air mobility, aimed at addressing traffic
congestion and pollution in Indian cities.
About ISRO:
● Full Form: Indian Space Research Organisation
● Established: 1969

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 Important Monthly Current Affairs Capsule – January 2025

● Headquarters: Bengaluru, Karnataka

● Current Chairman: V Narayanan
Amazon Web Services to Invest ₹60,000 Crore in Telangana for Data Centre Expansion
● Amazon Web Services (AWS) has committed ₹60,000 crore to expand its data centre
infrastructure in Hyderabad, Telangana.
● The announcement was made during the World Economic Forum (WEF) 2025 in Davos, in a
meeting between:
o Michael Punke, AWS Vice President
o Telangana Chief Minister A. Revanth Reddy
o IT and Industries Minister D. Sridhar Babu
About Amazon Web Services (AWS):
● Parent Company: Amazon
● Headquarters: Seattle, Washington, USA
● CEO: Matt Garman
Indian Automobile Exports Surge by 19% in 2024: Strong Growth Across Segments
● India’s automobile exports have experienced a 19% YoY growth in 2024, with total exports
reaching 50,98,810 units, up from 42,85,809 units in 2023, according to data from the Society of
Indian Automobile Manufacturers (SIAM).
● The surge is largely attributed to increased demand from emerging markets such as Latin
America and Africa.
Tata Steel Develops Hydrogen-Compliant Pipes for Clean Energy
● Tata Steel has become the first Indian company to develop hydrogen-compliant pipes, marking a
significant advancement in India’s clean energy efforts.
● These API X65 pipes are designed specifically for transporting hydrogen and are part of Tata
Steel's commitment to supporting the country’s energy transition.
About Tata Steel:
● CEO: T. V. Narendran
● Founder: Jamshedji Tata
● Founded: 26 August 1907
● Headquarters: Mumbai, Maharashtra

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 Important Monthly Current Affairs Capsule – January 2025

AWARDS AND HONOUR

2024 Major Dhyan Chand Khel Ratna Awardees Recognized for Exceptional Sporting Achievements
● The Indian government has announced the recipients of the prestigious Major Dhyan Chand Khel
Ratna Award for 2024, honouring athletes who have made exceptional contributions to sports in
the country.
● This esteemed award recognizes outstanding performances and achievements in various
disciplines.
● Awardees and Their Achievements
● Manu Bhaker (Shooting):
o Made history at the Paris 2024 Olympics by becoming the first Indian athlete post-
Independence to win two medals in a single edition of the Games.
● Harmanpreet Singh (Hockey):
o As the captain of the Indian men’s hockey team, led them to a second consecutive
Olympic bronze medal in Paris.
● Praveen Kumar (Para Athletics):
o Clinched gold at the Paris Paralympics in the men’s high jump T64 category, setting a new
Asian record.
● D Gukesh (Chess):
o Emerged as a formidable force in the world of chess, achieving significant milestones and
contributing to India’s rising stature in global chess.
Outgoing President Joe Biden Awards Presidential Citizens Medal to Capitol Attack Investigators
● President Joe Biden has awarded the Presidential Citizens Medal, the second-highest civilian
honour in the United States, to 20 individuals, including members of the congressional committee
that investigated the January 6, 2021, Capitol attack.
● The awards were presented during a ceremony at the White House.
Joe Biden Awards Presidential Medals of Freedom to 19 Honorees
● President Joe Biden awarded the Presidential Medal of Freedom to 19 honorees, recognizing
their contributions to entertainment, sports, activism, and diplomacy.
● Among the recipients were Bono (singer and activist), Earvin "Magic" Johnson (basketball
legend), Lionel Messi (soccer superstar), Denzel Washington and Michael J. Fox (actors), and
Ralph Lauren (fashion designer).

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 Important Monthly Current Affairs Capsule – January 2025

● Jane Goodall (primate researcher) and Hillary Clinton (former First Lady, senator, and US
secretary of state) were also recognized.
● The Presidential Medal of Freedom was awarded posthumously to Fannie Lou Hamer, a Black
civil rights activist, and Robert F. Kennedy, former US attorney general and presidential
candidate.
Top Wins at the 82nd Annual Golden Globe Awards
● The 82nd Annual Golden Globe Awards showcased a stellar night for a mix of newcomers and
familiar faces, with "The Brutalist" and "Emilia Perez" taking top movie honours.
● Meanwhile, the TV category saw "Shogun" dominate with multiple awards, solidifying its place in
the 2024 award season.
● "The Brutalist" won Best Drama along with Best Actor (Adrien Brody) and Best Director (Brady
Corbet). Corbet called for more freedom for directors to challenge audiences with unique,
thought-provoking films.
Indian Films Competing at the 97th Academy Awards (Oscars 2025)
● The Academy of Motion Picture Arts and Sciences has announced 323 feature films eligible for
the Oscars 2025.
● Seven Indian films have cut the 207 contenders for Best Picture, marking a significant moment
for Indian cinema on the global stage.
● Indian Films in Best Picture Consideration
● Kanguva
● Aadujeevitham (The Goat Life)
● Putul
● Santosh
● Swatantrya Veer Savarkar
● All We Imagine as Light
● Girls Will Be Girls

Dr. Krishna Ella Honored with INSA Fellowship for 2025

● Dr. Krishna Ella, Co-founder and Executive Chairman of Bharat Biotech International, has been
awarded the prestigious India Fellowship of the Indian National Science Academy (INSA) for
2025.
● First-Time Industry Inclusion:

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 Important Monthly Current Affairs Capsule – January 2025

o Among the 61 fellows elected in 2025, this is the first year industry leaders were included.
o Joins a distinguished group of eminent scientists and leaders such as:
▪ Dr. Anil Kakodkar (Chairman, Atomic Energy Commission).
▪ Dr. VK Saraswat (former DG, DRDO).
▪ Dr. S. Somanath (Chairman, ISRO).
▪ S. Kris Gopalakrishnan (Co-founder, Infosys).
Singapore President Tharman Shanmugaratnam awarded Tarun Das the Honorary Citizen Award for his
contributions to India-Singapore relations
● Singapore President Tharman Shanmugaratnam presented the Honorary Citizen Award to Tarun
Das in New Delhi.
● The Honorary Citizen Award is the highest recognition granted by the Singapore government to a
non-Singaporean.
● This prestigious award is presented to individuals who have made notable contributions in
various fields such as business, science and technology, education, health, arts and culture, and
community service.
Professor Urbasi Sinha Awarded Gates-Cambridge Impact Prize 2025
● Professor Urbasi Sinha, a distinguished faculty member at the Raman Research Institute (RRI) in
the Light and Matter Physics theme, has been honored with the Gates-Cambridge Impact Prize
2025 by the Bill & Melinda Gates Foundation in Cambridge, UK.
● Professor Sinha has spearheaded groundbreaking advancements in quantum communication,
computing, and optics.
● Under her leadership, her lab was among the first in India to develop and utilize heralded and
entangled photon sources, marking a significant milestone in India’s quantum research.
Oscar nominations 2025: Anuja makes it to Academy Awards, Emilia Pérez leads the way
● The 97th Academy Awards (Oscars 2025) will be held on March 2, 2025 at the Dolby
Theatre in Hollywood, Los Angeles.
● The ceremony was postponed twice due to the Los Angeles wildfires.
● The awards will recognize the best in film, with a notable increase in diversity and international
representation among nominees.
● Priyanka Chopra Jonas and Oscar-winning producer Guneet Monga supported the short
film “Anuja” set in New Delhi, nominated for Live Action Short Film.
Leading Film: “Emilia Pérez”

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 Important Monthly Current Affairs Capsule – January 2025

● Director: Jacques Audiard

● Language: Spanish-French
● Nominations: 13 nominations, including Best Picture and Best Actress for Karla Sofía Gascón.
● Historic Milestone: Karla Sofía Gascón is the first openly trans actor to be nominated for an Oscar.
55th World Economic Forum: Crystal Awards Honoring Champions of Change
● The 55th World Economic Forum (WEF) Annual Meeting commenced in Davos, Switzerland,
recognizing global leaders with the Crystal Awards for their contributions to social, environmental,
and creative progress.
● The 2025 awardees include:
o David Beckham: For championing children’s rights.
o Diane von Furstenberg: For empowering women.
o Riken Yamamoto: For innovating sustainable architecture.
President approves Gallantry awards to 93 Armed Forces personnel, including 12 posthumous & 305
defence decorations
● President Droupadi Murmu conferred gallantry awards to 93 personnel from the Armed
Forces and Central Armed Police Forces (CAPF), recognising their extraordinary bravery, valiant
efforts, and selfless service to the nation.
● These awards celebrate acts of heroism, including many conferred posthumously, honoring those
who sacrificed for India.
Key Highlights of the 2025 Gallantry Awards
1. Overview of Awards
● Kirti Chakra: 2 recipients (1 posthumous).
● Shaurya Chakra: 14 recipients (2 posthumous).
● Bar to Sena Medal (Gallantry): 1 recipient.
● Sena Medals (Gallantry): 66 recipients.
● Nao Sena Medals (Gallantry): 2 recipients.
● Vayu Sena Medals (Gallantry): 8 recipients.
2. Significance of Gallantry Awards
● The Kirti Chakra, India’s second-highest peacetime gallantry award, honors acts of exceptional
courage.
● Shaurya Chakra, the third-highest peacetime award, is conferred for valiant action not in the face
of the enemy.

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 Important Monthly Current Affairs Capsule – January 2025

● Sena, Nao Sena, and Vayu Sena Medals recognize exceptional bravery and courage by personnel
of the Army, Navy, and Air Force, respectively.
3. Notable Recipients and Contributions
● Kirti Chakra:
o Major Manjit (22 RR, Army).
o Naik Dilwar Khan (Posthumous, 28 RR, Army).
● Bar to Sena Medal (Gallantry):
o Lieutenant Colonel KH Shem, Army, for outstanding courage in repeated operations.
● Sena Medal (Gallantry):
o A total of 66 personnel from the Indian Army, including Major Archit Indurkar, Captain
Dushyant Sihag, and Havildar Gurpreet Singh, were recognized for their valor in
safeguarding national security.
● Nao Sena Medal (Gallantry):
o Lieutenant Commander Sourabh Malik and Lieutenant Commander Satyam Singh from
the Navy were honored for their bravery in maritime operations.
● Vayu Sena Medal (Gallantry):
o Notable recipients include Group Captain Ankit Raj Singh and Wing Commander Akshay
Saxena, who demonstrated exceptional courage in critical air force missions.
About Gallantry Awards:
● Established: 1950 (post-independence).
● Categories: Wartime (Param Vir Chakra, Maha Vir Chakra, Vir Chakra) and Peacetime (Ashoka
Chakra, Kirti Chakra, Shaurya Chakra).
Hierarchy of Awards:
● Peacetime: Ashoka Chakra > Kirti Chakra > Shaurya Chakra.
● Wartime: Param Vir Chakra > Maha Vir Chakra > Vir Chakra.
Padma Awards 2025: Honoring Excellence in Civilian Contributions
● The Padma Awards are among India’s highest civilian honours, recognizing distinguished
achievements across various fields such as art, medicine, literature, science, social work, and
more.
● Announced annually on the eve of Republic Day, the awards are conferred in three categories:
1. Padma Vibhushan: Exceptional and distinguished service.
2. Padma Bhushan: Distinguished service of higher order.

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 Important Monthly Current Affairs Capsule – January 2025

3. Padma Shri: Distinguished service in various fields.

These awards are based on recommendations made by the Padma Awards Committee, constituted by
the Prime Minister of India.
Padma Vibhushan 2025: Exceptional Achievements (7 Awardees)
The Padma Vibhushan recognizes unparalleled contributions to society.
Name Field State/Country

Shri Duvvur Nageshwar Reddy Medicine Telangana

Justice (Retd.) Shri Jagdish Singh Khehar Public Affairs Chandigarh

Smt. Kumudini Rajnikant Lakhia Art Gujarat

Shri Lakshminarayana Subramaniam Art Karnataka

Shri M. T. Vasudevan Nair (Posthumous) Literature and Education Kerala

Shri Osamu Suzuki (Posthumous) Trade and Industry Japan

Smt. Sharda Sinha (Posthumous) Art Bihar

Padma Bhushan 2025: Distinguished Service of Higher Order (19 Awardees)
Padma Shri 2025: Distinguished Service (113 Awardees)
Click here to know about complete List :
About Padma Awards
1. Established: 1954.
2. Presented by: President of India.
3. Categories: Padma Vibhushan, Padma Bhushan, Padma Shri.
Indian Coast Guard Personnel Honoured with President’s Tatrakshak Medal and Tatrakshak Medal on
76th Republic Day
● On the occasion of the 76th Republic Day, President Smt. Droupadi Murmu has approved the
prestigious President’s Tatrakshak Medal (PTM) and Tatrakshak Medal (TM) for the personnel of
the Indian Coast Guard (ICG).
● These awards are conferred to recognize the gallantry, exceptional devotion to duty,
and distinguished/meritorious service displayed by the recipients.
Categories and Recipients of the Awards
1. President’s Tatrakshak Medal (Distinguished Service)
● ADG Anil Kumar Harbola, TM
● IG Homesh Kumar Sharma, TM

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 Important Monthly Current Affairs Capsule – January 2025

2. Tatrakshak Medal (Gallantry)

● Comdt Anshuman Raturi
● Asst Comdt Manish Singh
● Sameer Ranjan, U/Nvk(R)
3. Tatrakshak Medal (Meritorious Service)
● IG Jyotindra Singh
● DIG Atul Joshi
● Shanmugham Sankar, P/Adh (P)
Shri Hariman Sharma: The Apple Man of India Honored with Padma Shri
● Shri Hariman Sharma, a pioneering farmer from Himachal Pradesh, has been awarded the
prestigious Padma Shri (2025) for his revolutionary contributions to Indian agriculture.
● Known as the Apple Man of India, Shri Sharma developed the HRMN-99 apple variety,
transforming apple farming by enabling cultivation in tropical and subtropical regions.
Doordarshan Honored for Electoral Campaigns on Voter Awareness
● Doordarshan, India’s national broadcaster, has been recognized with an award in the Electronic
Media category for its exemplary Voter Awareness and Education Campaign during the Lok Sabha
Elections 2024.
● The campaign, highlighted by the impactful series “Chunav Ka Parv Desh Ka Garv”, played a
pivotal role in fostering an informed and active citizenry.
● President Droupadi Murmu presented the award to Doordarshan’s Director-General Kanchan
Prasad during the Republic Day 2025
Lieutenant Governor Manoj Sinha Honored with Maharaja Hari Singh Award
● Lieutenant Governor Manoj Sinha was conferred with the prestigious Maharaja Hari Singh
Award at a grand ceremony held at Satyam Resort, Jammu.
● This award, organized by the Gulistan News Network, was part of the ‘Maharaja Hari Singh Peace
and Harmony Award 2024-25’
● The award recognized LG Sinha’s contributions to reforms and planning in Jammu and Kashmir.
Uttar Pradesh’s Tableau Wins People’s Choice Award at Republic Day Parade
● Uttar Pradesh’s tableau, titled ‘Maha Kumbh 2025 – Swarnim Bharat: Virasat aur Vikas’, has
claimed the first place in the People’s Choice Award category, securing 40% of the votes (25,007).
● This recognition celebrates the state’s stunning portrayal of the Maha Kumbh festival and its
significance.

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 Important Monthly Current Affairs Capsule – January 2025

● Maha Kumbh Tableau:

o The tableau showcased the grandeur of the Maha Kumbh, an event recognized as
an Intangible Cultural Heritage of Humanity.

APPOINTMENTS & RESIGNATIONS

Bhuvnesh Kumar Takes Over as Chief Executive Officer of Unique Identification Authority of India
● Shri Bhuvnesh Kumar has been appointed as the Chief Executive Officer (CEO) of the Unique
Identification Authority of India (UIDAI).
● Along with being the CEO of UIDAI, he serves as Additional Secretary in the Ministry of
Electronics and Information Technology (MeitY), Government of India.
● He is an Indian Administrative Service (IAS) officer from the 1995 batch, Uttar Pradesh cadre.
About Ministry of Electronics & IT :
● Cabinet Minister : Ashwini Vaishnaw
● Minister of State : Jitin Prasada

Air Marshal Jeetendra Mishra Takes Charge as Commander of Indian Air Force’s Western Air Command
● Air Marshal Jeetendra Mishra assumed command of the Indian Air Force’s Western Air
Command on 1st January 2025.
● Air Marshal Jeetendra Mishra succeeds Air Marshal Pankaj Mohan Sinha who superannuated on
31 December 2024 after putting in more than 39 years of distinguished service in the IAF.
● The Air Marshal was commissioned into the Indian Air Force as a fighter pilot on 06 December
1986.
Arif Mohammad Khan Takes Oath as 42nd Governor of Bihar
● Arif Mohammad Khan was sworn in as the 42nd Governor of Bihar, succeeding Rajendra
Vishwanath Arlekar, who was appointed Kerala Governor.
● The oath of office was administered by Patna High Court Chief Justice K. Vinod Chandran at the
Raj Bhawan in Patna.
● The ceremony was attended by Bihar Chief Minister Nitish Kumar, Deputy CM Samrat
Chaudhary, and other key political figures, including Leader of the Opposition Tejashwi Yadav.
Rajendra Vishwanath Arlekar Sworn In as Kerala's 23rd Governor
● Rajendra Vishwanath Arlekar was sworn in as the 23rd Governor of Kerala on January 2, 2025.

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 Important Monthly Current Affairs Capsule – January 2025

● The oath was administered by Kerala High Court Chief Justice Nitin Madhukar Jamdar at a
ceremony held at Raj Bhavan in Thiruvananthapuram.
● Arlekar replaced Arif Mohammed Khan as the Governor of Kerala.
Pakistan starts its two-year term as a non-permanent member of the United Nations Security Council from
January 1, 2025
● Pakistan began its two-year tenure as a non-permanent member of the United Nations Security
Council (UNSC) on January 1, 2025.
● Ambassador Munir Akram emphasized that Pakistan will take an "active and constructive" role in
addressing global challenges during its term.
● Number of Terms: This is the eighth time Pakistan has held a non-permanent seat on the UNSC,
with previous terms in 1952-53, 1968-69, 1976-77, 1983-84, 1993-94, 2003-04, and 2012-13.
About Pakistan :
● President : Asif Ali Zardari
● Prime Minister : Shehbaz Sharif
● Capital : Islamabad
● Currency : Pakistani rupee (₨)
Faiz Ahmed Kidwai Appointed as Director General of Directorate General of Civil Aviation
● Faiz Ahmed Kidwai, an IAS officer from the Madhya Pradesh cadre, has been appointed as the
Director General of the Directorate General of Civil Aviation (DGCA).
● He succeeds D.C. Sharma, who is retiring at the end of the month.
● Kidwai was previously the Additional Secretary in the Department of Agriculture and Farmers
Welfare under the Ministry of Agriculture & Farmers Welfare.
● The position was previously held by Sharma as an additional charge along with his role as Joint
Director General at DGCA.
About DGCA :
● Headquarters : New Delhi, India
● The DGCA is a statutory body of the Government of India to regulate civil aviation in India.
● It became a statutory body under the Aircraft (Amendment) Act, 2020.

Kevan Parekh appointed as Apple's new Chief Financial Officer

● Indian-origin executive Kevan Parekh has assumed the role of Chief Financial Officer (CFO) of
Apple, effective January 1, 2025.

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 Important Monthly Current Affairs Capsule – January 2025

● Parekh replaces Luca Maestri, who had been Apple's CFO since 2014.
● Role and Responsibilities: As CFO, Parekh will oversee key functions at Apple, including
accounting, business support, financial planning and analysis, treasury, investor relations,
internal audit, and tax functions.
About Apple Inc. :
● Founded : April 1, 1976
● Headquarters : California, United States
● CEO : Tim Cook

Nasscom Foundation appoints Jyoti Sharma as Chief Executive Officer, succeeding Nidhi Bhasin
● Jyoti Sharma has been appointed as the new Chief Executive Officer (CEO) of Nasscom
Foundation, effective immediately, replacing Nidhi Bhasin.
● Sharma brings over 20 years of experience in driving social impact, program development,
resource mobilization, and stakeholder engagement.
● She has held leadership positions at several organizations, including Organic Cotton Accelerator,
the European Commission, World Resources Institute, Magic Bus India Foundation, Action Aid,
and Save the Children.
About Nasscom Foundation:
● Established in 2001, Nasscom Foundation is a not-for-profit organization representing the Indian
tech industry.

6 Indian-American Representatives Take Oath in U.S. House of Representatives

● A historic event as 6 Indian Americans were sworn in as members of the U.S. House of
Representatives on January 3, 2025, marking the largest number of Indian-American
representatives in U.S. history.

Appointments of Indian American Representatives :

Name District Political Party Key

Positions/Notable
Roles

Dr. Ami Bera 7th Congressional Democratic Senior-most,

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 Important Monthly Current Affairs Capsule – January 2025

District, California serving his seventh

consecutive term

Suhash 10th Congressional Democratic Newest Indian-

Subramanian District, Virginia American
Representative

Shri Thanedar 13th Congressional Democratic Represents

District, Michigan Michigan’s 13th
District

Ro Khanna 17th Congressional Democratic Member of several

District, California key House
committees,
potential
presidential
candidate

Raja 8th Congressional Democratic Ranking Member

Krishnamoorthi District, Illinois of China
Committee, House
Intelligence
Committee
member

Pramila Jayapal 7th Congressional Democratic First Indian-

District, American woman,
Washington leader of the
progressive group
of lawmakers

Manish Singhal Named Secretary General of Associated Chambers of Commerce and Industry of India
● Associated Chambers of Commerce and Industry of India (ASSOCHAM) announced the
appointment of industry expert Manish Singhal as its new Secretary General.

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 Important Monthly Current Affairs Capsule – January 2025

● Singhal takes over from Deepak Sood, who successfully led the organization for the past five years
and has now stepped down to pursue other opportunities.
About ASSOCHAM :
● Founded : 1920
● Headquarters : New Delhi, India
● ASSOCHAM is India’s oldest apex chamber, advocating for policies that strengthen the Indian
economy.
South Korean Parliament Approves Impeachment of Acting President Han Duck-soo
● South Korea's National Assembly voted to impeach Acting President Han Duk-soo.
● This event marks a significant political development in the country.
● Han Duk-soo became acting president on December 14, 2024, after President Yoon Suk-yeol
was impeached for failing to impose martial law.
● The impeachment motion for Han Duk-soo was passed unanimously with a 192-0 vote.
About South Korea :
● Capital : Seoul
● Currency : Korean Republic won

K N Renuka Pujar Appointed as Karnataka University's First Transgender Woman Guest Lecturer
● K N Renuka Pujar has become the first transgender person to be appointed as a guest lecturer at
a university in Karnataka, specifically Vijayanagara Sri Krishnadevaraya University.
● Pujar, aged 27, completed her post-graduation in Kannada, qualifying her for the guest lecturer
position.

Dr. Sandip Shah Named Chairperson of National Accreditation Board for Testing and Calibration
Laboratories-Quality Council of India
● Dr. Sandip Shah, an eminent medical professional and visionary leader, has been appointed as
the Chairperson of the National Accreditation Board for Testing and Calibration Laboratories
(NABL), a constituent board of the Quality Council of India (QCI).
● Dr. Shah succeeds Prof. Subbanna Ayyappan in this role, bringing over 35 years of expertise in
healthcare and diagnostics with a distinguished career in pathology, molecular biology, and
transplant immunology.

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 Important Monthly Current Affairs Capsule – January 2025

NMDC Extends Tenure of Chairman and Managing Director Amitava Mukherjee

● State-owned NMDC Limited, formerly National Mineral Development Corporation, announced the
extension of Amitava Mukherjee’s tenure as Chairman and Managing Director (CMD) for an
additional year, effective from November 20, 2024.
● Amitava Mukherjee is currently serving as the Director (Finance) at NMDC and was previously
given the additional charge of CMD.
About NMDC Limited :
● Founded : 1958
● Headquarters : Hyderabad, Telangana

Centre appoints 1993-batch UP cadre IPS officer Vitul Kumar as the new Director General of Central
Reserve Police Force
● The Centre appointed Vitul Kumar, a 1993-batch Uttar Pradesh cadre IPS officer, to officiate as
the Director General (DG) of the Central Reserve Police Force (CRPF) from January 1, 2025.
● Kumar takes charge following the retirement of Anish Dayal Singh, the outgoing CRPF DG.
● Kumar will hold the position until a regular appointment is made or until further orders.
About CRPF :
● Headquarters : New Delhi, India
● The CRPF is a central armed police force in India under the Ministry of Home Affairs.
● It is one of the largest paramilitary forces in India, primarily tasked with maintaining law and order
and internal security.
Hari Babu Kambhampati Sworn in as Odisha's 27th Governor, Ajay Kumar Bhalla as Manipur's 19th
Governor at Raj Bhavan Ceremonies
● Hari Babu Kambhampati as Governor of Odisha:
● Hari Babu Kambhampati was sworn in as the 27th Governor of Odisha at a ceremony held at the
Raj Bhavan.
● Orissa High Court Chief Justice Chakradhari Sharan Singh administered the oath of office.
● Kambhampati succeeded Raghubar Das, who resigned from the position.
About Odisha :
● Chief Minister : Mohan Charan Majhi
● Capital : Bhubaneswar
● National Parks : Bhitarkanika National Park, Simlipal National Park

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 Important Monthly Current Affairs Capsule – January 2025

● Wildlife Sanctuaries : Debrigarh wildlife sanctuary, Hadgarh Wildlife Sanctuary, Sunabeda

Wildlife Sanctuary, Khalasuni Wildlife Sanctuary
About Manipur :
● Chief Minister : N. Biren Singh
● Capital : Imphal

Matrimony.com appoints Anil Kapoor as brand ambassador to enhance community-specific matrimony

services
● Matrimony.com, the Chennai-based Wed-Tech company, has signed actor Anil Kapoor as its
brand ambassador to widen the reach of its community-based matrimony services.
● Matrimony.com offers over 200 community-based matrimony services categorised by caste,
religion, occupation, and special groups.
● Matrimony.com has planned a 360-degree marketing campaign featuring Anil Kapoor, targeting
these communities throughout the year.
About Matrimony.com :
● Founded : 14 April 1997
● Headquarters : Chennai, Tamil Nadu
● Founder and CEO : Murugavel Janakiraman

TATA AIG General Insurance appoints Amit Ganorkar as Chief Executive Officer and Managing Director
● General insurance provider TATA AIG General Insurance Company has appointed Amit
Ganorkar its new managing director and chief executive officer.
● Ganorkar succeeds Neelesh Garg, following the board of directors’ approval and has officially
taken charge of the office as of January 1, 2025.
● In his previous role, Ganorkar served as the Managing Director of Royal Sundaram General
Insurance before which he was the Chief Operating Officer at TATA AIG.
About TATA AIG General Insurance Company :
● Founded : 2001
● Headquarters : Mumbai, Maharashtra, India
● TATA AIG General Insurance Company is a joint venture between the TATA Group and the
American International Group(AIG).
Pope Francis Appoints Sister Simona Brambilla as First Woman to Lead Major Vatican Department

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 Important Monthly Current Affairs Capsule – January 2025

● Pope Francis has appointed Sister Simona Brambilla as the first woman to head a major Vatican
department, the Dicastery for Institutes of Consecrated Life and Societies of Apostolic Life.
● Role and Responsibilities: Brambilla will oversee the world’s Catholic religious orders, marking a
significant milestone in the church’s history. She replaces Cardinal João Braz de Aviz, who had
served in the role since 2011 and is retiring at the age of 77.

HSBC Appoints Lisa McGeough as Chief Executive Officer of U.S. Operations

● Lisa McGeough has been appointed as the President and Chief Executive Officer (CEO) of
HSBC's U.S. operations, effective from January 1, 2025.
● Role and Responsibilities:
● McGeough will be based in New York City and report to Michael Roberts, the newly appointed
CEO of HSBC Bank plc and CEO of Corporate and Institutional Banking.
About HSBC Bank USA :
● Founded : 1850
● Headquarters : New York, United States

Former Judge Mayank Kumar Jain Named Judicial Member of Securities Appellate Tribunal
● Justice Mayank Kumar Jain, a former judge of the Allahabad High Court, has been appointed as
a judicial member of the Securities Appellate Tribunal (SAT) by the Ministry of Finance (MoF).
● Reason for Appointment:The appointment addresses the rising number of pending cases with
SAT, with discussions on the formation of a second bench underway.
● Jurisdiction:SAT hears appeals against orders from:
o Securities and Exchange Board of India (SEBI)
o Insurance Regulatory and Development Authority of India (IRDAI)
o Pension Fund Regulatory and Development Authority (PFRDA)
o Stock exchanges and depositories
Mercedes-Benz Names Emrah Ozer as Chief Financial Officer for Indian Operations
● Emrah Ozer has been appointed as the Chief Financial Officer (CFO) of Mercedes-Benz India,
effective from January 1, 2025.
● This appointment is part of an organizational change in the finance and controlling function at
Mercedes-Benz India.

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 Important Monthly Current Affairs Capsule – January 2025

● Ozer succeeds Evren Cakabey, who has been appointed as the Executive Director & CFO of
Mercedes-Benz G GmbH, Austria, also effective January 1, 2025.
About Mercedes-Benz India :
● Founded : 1994
● Headquarters : Pune, Maharashtra

Abhishek Bachchan Becomes Co-Owner of European T20 Premier League

● Abhishek Bachchan, Bollywood actor, entrepreneur, and sports enthusiast, will join the European
T20 Premier League (ETPL) as a co-owner.
● The ETPL is sanctioned by the International Cricket Council (ICC), but the financial details of the
arrangement were not disclosed.
● Bachchan’s Existing Sports Ventures:This marks an expansion of Bachchan’s involvement in
sports leagues, as he already co-owns:
o Chennaiyin FC in the Indian Super League (ISL) (football).
o Jaipur Pink Panthers in the Pro Kabaddi League (PKL) (kabaddi).

State Bank of India names Baldev Prakash as Group Chief Risk Officer
● Baldev Prakash has been appointed as the Deputy Managing Director and Group Chief Risk
Officer at State Bank of India (SBI).
● This follows his successful three-year tenure as the Managing Director and CEO of Jammu and
Kashmir Bank (up until December).
About SBI :
● Founded : 1 July 1955
● Headquarters : Mumbai, Maharashtra, India
● Chairman : Challa Sreenivasulu Setty

V Narayanan Appointed as New ISRO Chairman and Space Secretary, Takes Charge on January 14,
2025
● V Narayanan has been appointed as the new Space Secretary and Chairman of the Indian
Space Research Organisation (ISRO), effective from January 14, 2024.
● Narayanan succeeds S Somanath as Chairman of ISRO.
● Narayanan was previously the Director of the Liquid Propulsion Systems Centre (LPSC).

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 Important Monthly Current Affairs Capsule – January 2025

● The Appointments Committee of the Cabinet, Ministry of Personnel and Training, approved his
appointment for a period of two years or until further orders.
Government Appoints 24 New Members to the National Company Law Tribunal
● The Union Ministry of Corporate Affairs has appointed 24 members to the National Company
Law Tribunal (NCLT) to strengthen its capacity to handle corporate disputes and insolvency
cases.
● The new appointments include 11 Judicial Members and 13 Technical Members.
● The appointees will serve for five years or until they reach the age of 65, whichever comes first.

Brijendra Pratap Singh appointed as the new Chairman-cum-Managing Director of National Aluminium
Company
● Brijendra Pratap Singh has been appointed as the Chairman-cum-Managing Director (CMD) of
National Aluminium Company (NALCO).
● Before joining NALCO, Singh served as Director-In-Charge for Burnpur and Durgapur Steel Plant
and was a member of the Board of Steel Authority of India Limited (SAIL).
● Singh has over 35 years of experience in the mines and steel sectors.
About NALCO :
● Headquarters : Bhubaneswar, Odisha, India

Arunish Chawla Moves to Department of Investment and Public Asset Management as Secretary & Tuhin
Kanta Pandey Appointed as Revenue Secretary
● Arunish Chawla, a 1992-batch Bihar cadre IAS officer, has been shifted to the Department of
Investment and Public Asset Management (DIPAM) as Secretary, effective within two weeks of
his appointment as Revenue Secretary.
● Tuhin Kanta Pandey, a 1987-batch Odisha cadre IAS officer, has been appointed as Revenue
Secretary after serving as Secretary, DIPAM since October 2019.

Samunnati names Unilever veteran Badri Narayanan as Group Chief Executive Officer designate
● Samunnati, an agri value chain enabler, has made a strategic leadership realignment to focus on
empowering smallholder farmers and driving growth in the agri-ecosystem.
● Badri Narayanan, a former Unilever veteran, has been appointed as the Group CEO Designate.

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 Important Monthly Current Affairs Capsule – January 2025

● Narayanan brings 24 years of experience at Unilever, with expertise in general management,

sales, marketing, digital commerce, and operations.

Finance Ministry appoints CS Setty and Uday Kotak to National Investment and Infrastructure Fund
Trustee Limited Governing Council
● The Finance Ministry appointed two new members to the governing council of the National
Investment and Infrastructure Fund Trustee Limited (NIIFTL):
● CS Setty: Chairman of SBI, replacing Dinesh Khara.
● Uday Kotak: Director of Kotak Mahindra Bank, replacing T.V. Mohandas Pai.
● Approval: The appointments were approved by Finance Minister Nirmala Sitharaman, who chairs
the governing council.
About NIIF :
● The National Investment and Infrastructure Fund (NIIF) is a quasi-sovereign wealth fund with a
corpus of ₹40,000 crore.
● It was set up in December 2015 to enhance infrastructure financing by investing in greenfield,
brownfield, and stalled projects.
● The next governing council meeting of NIIF is scheduled for January 20, 2025.

Rajeev Mehta Appointed as the First Indian Secretary General of Fencing Confederation of Asia
● Rajeev Mehta was elected as the Secretary-General of the Fencing Confederation of Asia (FCA)
during the General Assembly of the organization.
● He is the first Indian to hold this prestigious continental leadership position in the FCA.
● Mehta is currently serving as the Secretary-General of the Fencing Association of India.
About FCA :
● The FCA is an international body created in 1988, charged with the promotion and development
of fencing in Asia.
● It organises the Asian Fencing Championships annually, in all levels: seniors, juniors and cadets,
under 23 and veterans.

Bahadur Singh Sagoo, Asian Games Gold Medallist, Elected as President of Athletics Federation of India
● Bahadur Singh Sagoo, an Asian gold medalist and Padma Shri awardee, was elected as the new
president of the Athletics Federation of India (AFI).

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 Important Monthly Current Affairs Capsule – January 2025

● The election took place during the AFI's Annual General Meeting (AGM) in Chandigarh.
● Sagoo's election marks the end of the more than decade-long tenure of former president Adille
Sumariwalla, who served as AFI president since 2012.
About Athletics Federation of India :
● Founded : 1946
● Headquarters : New Delhi, India

Retired Justice B.N. Srikrishna to Lead Advisory Board of ID Verification Firm Equal
● Retired Supreme Court Justice B.N. Srikrishna has been appointed to chair the Advisory Board
of Equal, an ID verification and data-sharing platform.
● Equal provides identity authentication services to large firms and has digital integrations with
multiple ID providers.
● This appointment comes as the government finalizes the Digital Personal Data Protection Rules,
2025, to implement the DPDP Act, 2023.

Lebanese Parliament Chooses Joseph Aoun as President, Ending 2-Year Impasse

● Lebanon's parliament is making another attempt to elect a president, aiming to fill a presidential
vacancy that has lasted over two years since Michel Aoun's term ended in October 2022.
● 12 previous attempts have failed to elect a successor, but there are indications that Joseph
Aoun, the Lebanese army commander, may be elected as president in the upcoming vote.
● Leading Presidential Candidate:Joseph Aoun is seen as the leading candidate for president and
is backed by the United States and Saudi Arabia.
About Lebanon :
● Prime Minister : Najib Mikati
● Capital : Beirut
● Currency : Lebanese pound

For the first time, the selection process for the next Chief Election Commissioner expands its scope
● For the first time, the appointment of the Chief Election Commissioner (CEC) will move beyond
the traditional seniority-based approach.

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 Important Monthly Current Affairs Capsule – January 2025

● The Chief Election Commissioner and Other Election Commissioners (Appointment, Conditions
of Service and Term of Office) Act, 2023 has introduced new mechanisms to widen the scope of
selection.
●

Venezuela's Maduro Takes Oath for Third Term Following Disputed Elections
● Nicolás Maduro was sworn in for a third presidential term in Venezuela, following disputed
presidential elections held in July 2024.
● He took the oath of office before Venezuela's parliament, promising a period of peace, prosperity,
equality, and new democracy for his third term.
● Maduro's victory in the election was declared by the National Electoral Council (CNE), which is
closely aligned with his government.
About Venezuela :
● Capital : Caracas
● Currency : Venezuelan bolívar (VED)

POCO appoints Akshay Kumar as brand ambassador ahead of X7 series launch

● Bollywood actor Akshay Kumar has been appointed as the brand ambassador for POCO India.
● The partnership reflects POCO's commitment to redefining technology for India's youth.
● The announcement comes ahead of the POCO X7 series launch.
● Akshay Kumar's association aligns with the POCO X7 series campaign theme "Xceed Your
Limits," which encourages users to push boundaries and strive for excellence.

Devajit Saikia elected new Board of Control for Cricket in India (BCCI) secretary, replaces Jay Shah
● Devajit Saikia, a former cricketer from Assam, has been appointed as the new Secretary of the
Board of Control for Cricket in India (BCCI), succeeding Jay Shah.
● His election took place during a Special General Meeting (SGM) on Jan 12,2025.
● Saikia was the only nominee for the position of secretary and was officially elected.
● Prabhtej Singh Bhatia was appointed as the treasurer at the same meeting, also as the sole
nominee for the role.
Justice Upadhyay appointed as the new Chief Justice of Delhi High Court

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 Important Monthly Current Affairs Capsule – January 2025

● Justice Upadhyay, the Chief Justice of the Bombay High Court, has been appointed as the Chief
Justice of the Delhi High Court.
● This decision was made on January 14, 2025, following a recommendation by the Supreme
Court Collegium on January 7, 2025.
● Justice Vibhu Bakhru is currently serving as the acting Chief Justice of the Delhi High Court after
the elevation of Justice Manohar to the Supreme Court.
● Justice Alok Aradhe, the Chief Justice of the Telangana High Court, has been appointed as the
Chief Justice of the Bombay High Court, following the same recommendation by the Supreme
Court Collegium.
Lebanon's President Appoints ICJ Judge Nawaf Salam as Prime Minister
● Lebanese President Joseph Aoun has appointed Nawaf Salam, a prominent diplomat and judge,
as Lebanon's new Prime Minister after securing majority support from the Lebanese parliament.
● Salam, the head of the International Court of Justice (ICJ), won the support of 73 out of 128
members of parliament, mainly from Western-backed groups and independents, and is also
backed by Saudi Arabia and Western countries.
● As Prime Minister, Salam faces the challenge of addressing Lebanons five-year economic crisis,
the aftermath of the Israel-Hezbollah war, and working towards rebuilding the nation.
About Lebanon :
● Capital : Beirut
● Currency : Lebanese pound
Reserve Bank of India Reshuffles Deputy Governors' Portfolios as Michael Patra's Term Concludes
● The Reserve Bank of India (RBI) announced a reshuffle in the portfolios of its three remaining
Deputy Governors on January 14, as Dr. Michael Debabrata Patra's term is set to end on
January 15.
● New Portfolio Assignments:M Rajeshwar Rao will take over as the head of the Department of
Monetary Policy, a role previously managed by Dr. Patra.
● T Rabi Sankar will now oversee the Financial Markets Operations Department.
● Upcoming Monetary Policy Committee (MPC) Meeting: The portfolio changes come ahead of the
Monetary Policy Committee (MPC) meeting, which is scheduled for February 5-7, 2025.
● The Government of India has initiated the process for selecting a new Deputy Governor to
replace Dr. Patra.

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 Important Monthly Current Affairs Capsule – January 2025

● The selection will be made by the Financial Sector Regulatory Appointments Search Committee
(FSRASC), which is chaired by the Cabinet Secretary.
Government Set to Reappoint Robert J Ravi as Chairman and Managing Director of Bharat Sanchar
Nigam Limited
● The Ministry of Communications is likely to reappoint Robert Jerard Ravi as the Chairman and
Managing Director (CMD) of Bharat Sanchar Nigam Limited (BSNL).
● Ravi was first appointed as BSNL CMD in July 2024, succeeding PK Purwar, whose tenure
ended after serving since July 2019.
● Robert J Ravi is currently serving as Deputy Director General at DoT and previously served as
Advisor (Consumer Affairs and Quality of Services) at the Telecom Regulatory Authority of India
(TRAI).
About BSNL :
● Founded : 15 September 2000
● Headquarters : New Delhi, India
● It is an Indian central public sector undertaking, under the ownership of the Department of
Telecommunications, which is part of the Ministry of Communications, Government of India.

Chief Justice of Patna High Court Appointed as Supreme Court Judge

● President Droupadi Murmu appointed Justice Krishnan Vinod Chandran, the Chief Justice of
Patna High Court, as a judge of the Supreme Court on January 13, 2025.
● The Supreme Court Collegium, headed by Chief Justice of India Sanjiv Khanna, recommended
the appointment of Justice Chandran on January 7, 2025.
● With the appointment of Justice Chandran, the judicial strength of the Supreme Court has
increased to 33 judges, which is one short of the full quorum.
Government Appoints Ashok Chandra as Managing Director & Chief Executive Officer of Punjab National
Bank and Binod Kumar as MD & CEO of Indian Bank
● The government has appointed Ashok Chandra as the Managing Director (MD) and Chief
Executive Officer (CEO) of Punjab National Bank (PNB) and Binod Kumar as the MD and CEO of
Indian Bank.
● The top posts at PNB and Indian Bank fell vacant after the tenures of Atul Kumar Goel and SL
Jain, respectively, ended on December 31, 2024.

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 Important Monthly Current Affairs Capsule – January 2025

● Prior to these appointments, Chandra was an executive director at Canara Bank, while Kumar
was an executive director at PNB.
● Kumar (55) has been given a three-year term and will be eligible for an extension of up to two
more years, following a performance review.
● Chandra (57) has also been appointed for a three-year term.
About PNB :
● Established : 19 May 1894
● Headquarters : Delhi, India
About Indian Bank :
● Founded : 15 August 1907
● Headquarters : Chennai, Tamil Nadu
Justice Arun Mishra appointed as Board of Control for Cricket in India's Ombudsman and Ethics Officer
● Justice Arun Mishra was appointed as the Ombudsman and Ethics Officer of the Board of Control
for Cricket in India (BCCI).
● He has a notable legal background, having served as a Judge of the Madhya Pradesh High
Court, Chief Justice of the Rajasthan High Court, and Chief Justice of the Calcutta High Court.
● Appointment of New BCCI Secretary:Devajit Saikia, a former first-class cricketer and
experienced cricket administrator, was appointed as the new secretary of BCCI.
● Saikia replaces Jay Shah, who became the Chairman of the International Cricket Council (ICC) in
December 2024.
● Other BCCI Elections:Prabhtej Singh Bhatia was elected as the Treasurer of the Indian Cricket
Board (BCCI).
V.K. Singh Takes Oath as Governor of Mizoram
● Former Army Chief V.K. Singh has been sworn in as the 25th Governor of Mizoram.
● He replaced Hari Babu Kambhampati, who assumed the governorship of Odisha.
● The oath of office was administered by Chief Justice of Gauhati High Court, Vijay Bishnoi, at Raj
Bhavan, Aizawl.
About Mizoram :
● Chief Minister : Lalduhoma
● Capital : Aizawl
Vineet Joshi Takes Over as Secretary of the Department of Higher Education, Ministry of Education

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 Important Monthly Current Affairs Capsule – January 2025

● Vineet Joshi (IAS) has assumed the role of Secretary of the Department of Higher Education
under the Ministry of Education (MoE), at Shastri Bhawan, New Delhi.
● Prior to this appointment, he served as the Chief Secretary of Manipur.
About Ministry of Education :
● Cabinet Minister : Dharmendra Pradhan
● Minister of State : Sukanta Majumdar, Jayant Chaudhary
Sanjiv Ranjan Named New Secretary General of Indian Ocean Rim Association
● Sanjiv Ranjan, a senior Indian Foreign Service (IFS) officer from the 1993 batch, has been
appointed as the next Secretary General of the Indian Ocean Rim Association (IORA).
About IORA :
● IORA is a regional organisation that promotes economic cooperation, sustainable development,
and regional security among countries bordering the Indian Ocean.
● It was established in 1997 as an intergovernmental organisation for the states on the rim of the
Indian Ocean.
● IORA Membership:The organisation has 23 member states, including countries such as India,
Australia, Indonesia, and South Africa.
● IORA is supported by 12 dialogue partners, such as China, the European Union, and the United
States.
● Secretariat and Leadership:The IORA Secretariat is based in Ebène, Mauritius.
Alok Kumar Agarwal Named Chief Executive Officer of Zurich Kotak General Insurance

● Alok Kumar Agarwal has been appointed as the Managing Director (MD) and Chief Executive
Officer (CEO) of Zurich Kotak General Insurance.
● His appointment took effect on January 1, 2025, succeeding Suresh Agarwal.
About Zurich Kotak General Insurance :
● Founded : 2015
● Headquarters : Mumbai, Maharashtra,, India
● MD & CEO : Suresh Agarwal
Gyanendra Pratap Singh has been appointed as the new Director General of the Central Reserve
Police Force

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 Important Monthly Current Affairs Capsule – January 2025

● The Centre has appointed Gyanendra Pratap Singh as the Director General of the Central
Reserve Police Force (CRPF), according to a Personnel Ministry order issued on January 18,
2025.
● Singh, a 1991-batch IPS officer from the Assam-Meghalaya cadre, was serving as the Director
General of Police (DGP) of Assam before his new appointment.
● Singh will serve in this role until his superannuation on November 30, 2027, or until further
orders.
● Singh will take charge from Vitul Kumar, the Special DG of CRPF, who had been officiating as
the DG since December 30, 2024, after the retirement of the previous force chief, Anish Dayal
Singh.
About CRPF:
● Headquarters: New Delhi, India
● Director General: Gyanendra Pratap Singh
● Motto: "Seva and Nishtha" (Service and Loyalty)
IndusInd Bank announced the resignation of its Chief Financial Officer (CFO), Gobind Jain, who cited
plans to explore new professional opportunities.
● Gobind Jain, Chief Financial Officer (CFO) of IndusInd Bank, resigned on January 17, 2025, after
serving 3.25 years.
● His resignation was announced via a BSE filing on January 18, 2025.
● He will remain with the bank until the end of his 90-day notice period, assisting in the transition of
responsibilities until April 17, 2025.
● Arun Khurana, currently Whole-time Director and Deputy CEO at IndusInd Bank, has been
appointed as the new CFO.
Reserve Bank of India forms new committee for bank license, chaired by former Deputy Governor Jain
● The Reserve Bank of India (RBI) reconstituted the Standing External Advisory Committee
(SEAC) to evaluate applications for universal banks and small finance banks.
● The 5-member panel will be chaired by MK Jain, former deputy governor of the Reserve Bank of
India.
● As per licensing guidelines, applications for universal banks and small finance banks are
initially screened by the RBI to ensure prima facie eligibility of the applicants.
Reliance Power Appoints Neeraj Parakh as Executive Director and Chief Executive Officer
● Neeraj Parakh has been appointed as the Executive Director and Chief Executive Officer

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 Important Monthly Current Affairs Capsule – January 2025

(CEO) of Reliance Power Limited, effective January 20, 2025.

● With over 29 years of experience in the energy sector, including more than two decades at the
Reliance Group, Parakh is recognized for his expertise in project execution, operational efficiency,
and strategic leadership.
Usha Vance Makes History as the First Indian-American and Hindu Second Lady of the United States as
Her Husband J.D. Vance Takes Oath as 50th Vice President
● Usha Vance has made history as the 1st Indian-American and Hindu 2nd Lady of the United
States.
● Her husband J.D. Vance took the oath of office as the 50th Vice President in Washington, D.C.
● Prior to assuming her role as Second Lady, she had a distinguished career as a litigation associate
at a reputable law firm.
Paytm Appoints Former IAS Bimal Julka ‘Non Executive Independent Director’
● Paytm has appointed former IAS officer Bimal Julka as a Non-Executive Independent Director,
effective from 20 January 2025.
● Julka, a 1979 batch IAS officer from Madhya Pradesh and the former Central Chief Information
Commissioner, brings a wealth of experience in public administration and governance.
● His appointment is expected to strengthen Paytm’s governance structure and decision-making
processes.
Donald J Trump was sworn in as the 47th president of the United States, marking his remarkable return
to power for a second term of four years
● Donald Trump, who took oath as the 47th US President on January 20, 2025.
● The 78-year-old Republican leader storms back to the White House with a strongman persona and
a vision of an all-powerful presidency with a promise to aggressively reset US policies in a range
of domains, including immigration, tariffs and energy.
● Donald Trump is the 45th and 47th President of the United States, serving from 2017-2021 and re-
elected in 2024.
Tamil Nadu Police Officer Mahesh Kumar Aggarwal Elevated as Border Security Force Additional Director
General
● Mahesh Kumar Aggarwal, a 1994-batch IPS officer from the Tamil Nadu cadre, has been
appointed as the Additional Director General (ADG) of the Border Security Force (BSF).
● The appointment was confirmed by the Ministry of Home Affairs (MHA) on January 19, 2025.
● Tenure: Aggarwal will serve in this role for four years from the date of assuming charge or until

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 Important Monthly Current Affairs Capsule – January 2025

further orders, whichever comes earlier.

About Border Security Force :
● Founded : 1st December 1965
● Headquarters : New Delhi, India
● Director General :Daljit Singh Chaudhary
● The BSF is a central armed police force in India under the Ministry of Home Affairs.
Institute of Companies Secretaries of India (ICSI) appoints Dhananjay Shukla as President and Pawan G
Chandak as Vice President for 2025
● The Institute of Company Secretaries of India (ICSI) has announced the election of Dhananjay
Shukla as its President for the year 2025.
● A commerce and law graduate and a fellow member of the institute, Shukla brings years of
expertise as a practising company secretary based in Gurugram.
● Joining him in leadership, Pawan G Chandak has been appointed as the Vice President of ICSI for
2025.
About Institute of Company Secretaries of India:
● Founded: 1968
● Headquarters: New Delhi, India
● President: Dhananjay Shukla
● Established by: Act of Parliament under Ministry of Corporate Affairs
Rahul Vij Joins DigiHaat as new Chief Operating Officer
● DigiHaat, a buyer app launched by Nirmit Bharat, a subsidiary of the Open Network for Digital
Commerce (ONDC), has announced the appointment of Rahul Vij as its new Chief Operating
Officer (COO).
Akhil Gupta Appointed as Chairman of Bharti AXA Life Insurance
● Akhil Gupta, the Vice Chairman of Bharti Enterprises, has been appointed as the new Chairman
of Bharti AXA Life Insurance.
● With over 40 years of professional experience, Gupta has played a pivotal role in the expansion of
Bharti Airtel since its inception.
About Bharti AXA Life Insurance :
● Founded : 2006
● Headquarters : Mumbai, Maharashtra
● MD &CEO : Parag Raja

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 Important Monthly Current Affairs Capsule – January 2025

Amrit Mohan Prasad Given Additional Charge as Director General of Bureau of Civil Aviation Security
● Amrit Mohan Prasad, a 1989-batch Odisha cadre IPS officer, has been given the additional charge
of Director General of the Bureau of Civil Aviation Security (BCAS), in addition to his current role
as Director General of Sashastra Seema Bal (SSB).
● The Director General, BCAS is responsible for the development, implementation and maintenance
of the National Civil Aviation Security Programme.
● Tenure: Six months, starting from November 1, 2024, or until a regular appointee assumes office,
whichever comes first.
About Bureau of Civil Aviation Security:
● Head quarter: New Delhi
● Founded: 1978
● Director General: Amrit Mohan Prasad
● The Bureau of Civil Aviation Security (BCAS) is an attached office of the Ministry of Civil Aviation
(India)
IDBI Bank Re-appoints Rakesh Sharma as Managing Director and Chief Executive Officer
● IDBI Bank has announced the reappointment of Rakesh Sharma as Managing Director (MD) and
Chief Executive Officer (CEO) for another three-year term.
● The decision, approved by the Board of Directors on January 23, 2025, will be effective from March
19, 2025, after receiving the Reserve Bank of India’s (RBI) approval.
● Rakesh Sharma currently serves as President of the Governing Body of Entrepreneurship
Development Institute of India (EDII) and is a member of the Managing Committee of the Indian
Banks’ Association (IBA).
● He is also the Non-Executive Director and Chairman of IDBI Capital Markets & Securities
Ltd. and IDBI Intech Limited.
About IDBI Bank:
● Founded: 1964
● Headquarters: Mumbai, Maharashtra, India
● Managing Director & CEO: Rakesh Sharma
● Tagline: “Banking for All, Aao Sochein Bada”
Micheál Martin Confirmed as Ireland’s New Prime Minister
● Fianna Fáil leader Micheál Martin has been confirmed as Prime Minister of Ireland after a vote in
the Dáil, Ireland’s lower house of parliament.

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 Important Monthly Current Affairs Capsule – January 2025

● The 64-year-old previously served as Prime Minister from 2020 to 2022.

About Ireland:
● Capital: Dublin
● Currency: Euro (EUR)
● President: Michael D. Higgins
● Prime Minister (Taoiseach): Micheál Martin
Jitender Pal Singh Appointed India’s New Envoy to Israel
● Jitender Pal Singh, who has served as India’s point person for engaging with the Taliban since
their capture of power in Afghanistan in August 2021, has been appointed as India’s
new Ambassador to Israel.
● This appointment comes at a crucial time when diplomatic efforts are ongoing to resolve the Middle
East crisis, particularly the hostages and ceasefire deal between Israel and Hamas.
About Israel:
● Capital: Jerusalem
● Currency: Israeli New Shekel (ILS)
● President: Isaac Herzog
● Prime Minister: Benjamin Netanyahu
Ayushmann Khurrana Appointed as Ambassador for Federation of Indian Chambers of Commerce &
Industry (FICCI) Frames, Representing India’s Media and Entertainment Industry
● Ayushmann Khurrana has been appointed as the ambassador of ‘FICCI Frames’.
● Khurrana, known for films like ‘Badhaai Ho’, ‘Andhadhun’, ‘Bala’, ‘Article 15’, and ‘An Action Hero’,
expressed that it’s a huge honour to be announced as the first Brand Ambassador for ‘FICCI
Frames’ in its silver jubilee year.
● The theme of this year is ‘RISE: Redefining Innovation, Sustainability and Excellence’, which
underscores the transformative impact of ‘FICCI Frames’ in shaping narratives, fostering creativity,
and driving the evolution of the ‘Media and Entertainment’ industry.
● Held annually in Mumbai, the event brings together influential personalities, creative professionals,
and policymakers from around the world to discuss emerging trends, innovative technologies,
and key challenges in the entertainment landscape.
About FICCI:
● Founded: 1927
● Headquarters: New Delhi, India

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 Important Monthly Current Affairs Capsule – January 2025

● President: Harsha Vardhan Agrawal

Lukashenko secures 7th term as president of Belarus
● Alexander Lukashenko has been reelected president of Belarus, securing a 7th five-year term.
● According to preliminary results from the Central Election Commission cited by the state news
agency Belta, Lukashenko won 86.82% of the vote in the presidential election held on January 26,
2025.
● His closest rival, Sergei Syrankov, received 3.21%, followed by Oleg
Gaidukevich with 2.02%, Anna Kanopatskaya with 1.86%, and Alexander Khizhnyak with 1.74%.
● Under Belarusian law, a candidate must secure over 50% of the vote to win the presidency.
About Belarus:
● Capital: Minsk
● Currency: Belarusian ruble (BYN)
● President: Alexander Lukashenko
● Prime Minister: Roman Golovchenko
Sridhar Vembu steps down as Chief Executive Officer of Zoho Corporation
● Sridhar Vembu, co-founder and Chief Executive Officer of Zoho Corp, will step down from his role
as CEO and take on a new position as Chief Scientist.
● In this role, he will focus on deep R&D initiatives.
● Shailesh Kumar Davey, another co-founder, will take over as the new Group CEO of Zoho Corp.
Other Appointments:
● Tony Thomas will lead Zoho US.
● Rajesh Ganesan will head the ManageEngine division.
● Mani Vembu will lead the com division.
About Zoho:
● Zoho Corp was founded in 1996 as AdventNet with a focus on network management.
● In 2009, it rebranded to Zoho Corporation.
● Zoho is headquartered in Chennai, Tamil Nadu, India.
Bank of America Appoints Mandar Donde as Head of India Investment Banking
● Mandar Donde, currently Head of Asia-Pacific TMT Investment Banking at BofA Securities, will
take over as the new Head of Global Corporate and Investment Banking in India starting April 1,
2025.
● Raj Balakrishnan, the current co-head of India Investment Banking at BofA Securities, will assume

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 Important Monthly Current Affairs Capsule – January 2025

the role of Vice-Chairman, Global Corporate and Investment Banking, India.

About Bank of America (BoFA):
● Headquarters: Charlotte, North Carolina, USA
● CEO: Brian Moynihan
International Cricket Council (ICC) Chief Executive Officer Geoff Allardice steps down weeks ahead of
Champions Trophy
● Geoff Allardice, the CEO of the International Cricket Council (ICC), has decided to step down just
weeks before the upcoming Champions Trophy.
● A board member has suggested that his failure to present a clear picture of host Pakistan’s lack of
preparedness was one of the key factors contributing to his decision.
● Allardice, aged 57, joined the ICC in 2012 as General Manager of Cricket and had a prior role
with Cricket Australia as Cricket Operations Manager.
● He was appointed CEO in November 2021, after serving as acting CEO for eight months.
About ICC:
● Founded: 1909 (originally as the Imperial Cricket Conference, renamed to ICC in 1965)
● Headquarters: Dubai, United Arab Emirates
● Chairman: Jay Shah
Serbia’s Prime Minister Milos Vucevic resigns as protests raise political pressure
● Milos Vucevic, the Prime Minister of Serbia, has announced his resignation amid growing protests
and political tensions following the train station canopy collapse in Novi Sad in November, 2024.
● The incident, which resulted in several fatalities, sparked student-led demonstrations demanding
accountability and transparency.
● The resignation comes after a female student was attacked by alleged members of the Serbian
Progressive Party in Novi Sad, exacerbating the situation.
● Vucevic also announced that the current Mayor of Novi Sad will resign.
About Serbia:
● Capital: Belgrade
● Currency: Serbian dinar (RSD)
● President: Aleksandar Vučić

Vedanta Resources appoints Deshnee Naidoo as Chief Executive Officer

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 Important Monthly Current Affairs Capsule – January 2025

● Vedanta Resources, the parent company of Mumbai-based Vedanta Ltd, has appointed Deshnee
Naidoo as Chief Executive Officer (CEO) effective from 20 January 2025.
● Previous Role: Naidoo was the CEO of Vale Base Metals, a leading nickel and copper producer.
Sony Appoints Hiroki Totoki as Chief Executive Officer To Drive Entertainment Expansion
● Big changes are happening at Sony Interactive Entertainment (SIE) as leadership undergoes a
significant shift for the first time since former CEO Jim Ryan retired in 2023.
● Ryan had led SIE and the PlayStation division, with his role being jointly filled by Hideaki Nishino
and Herman Hulst in 2024.
● Now, Sony is making further changes to its leadership structure.
● Herman Hulst will remain in charge of Sony’s PlayStation division.
● Hideaki Nishino will become the CEO and president of Sony Interactive Entertainment as a
whole.
Maruti Suzuki Board approves re-appointment of Hisashi Takeuchi as Managing Director & Chief
Executive Officer until 2028
● Maruti Suzuki’s Board of Directors approved Hisashi Takeuchi's re-appointment as Managing
Director and CEO for another 3 years.
● The decision was made during the board meeting held on January 29, 2025.
● His renewed tenure will begin on April 1, 2025, and end on March 31, 2028.
● The Board has also recommended the re-appointment of Maheswar Sahu as an Independent
Director for an additional five-year term.
● The new term will extend from May 14, 2025, to May 13, 2030.

MOUS AND AGREEMENT

Power Grid Corporation of India Signs Landmark Green Loan Agreement with SMBC
● Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ PSU under the Ministry
of Power, has signed a significant green loan agreement with Sumitomo Mitsui Banking
Corporation (SMBC).
● The agreement was finalized at GIFT City, Gandhinagar, Gujarat, marking a pivotal step in
India's renewable energy journey.
● Loan Details:
o Currency: Japanese yen (JPY)
o Amount: Equivalent to $200 million, with an additional green shoe option of $150 million.

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 Important Monthly Current Affairs Capsule – January 2025

Uttarakhand Government Signs MoU with ITBP to Boost Tourism in Border Areas
● Uttarakhand government signed a Memorandum of Understanding (MoU) with the Indo-Tibetan
Border Police (ITBP) to promote tourism in the border areas of the state.
● This agreement allows the use of ITBP’s helipads for tourism-related activities, enhancing
accessibility to otherwise hard-to-reach locations.
DPIIT Partners with Startup Policy Forum to Bolster India’s Startup Ecosystem
● The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of
Commerce & Industry, has entered into a historic collaboration with the Startup Policy Forum
(SPF), an influential industry body representing India’s new-age companies.
● SPF Baithak:
o Scheduled for January 15-16 at Bharat Mandapam, as part of National Startup Week.
DPIIT Partners with Stride Ventures to Accelerate Growth of Indian Startups
● The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with Stride
Ventures, a leading venture debt firm, to catalyze the growth of Indian startups and expand their
global reach.
● This collaboration will provide financial support, strategic mentorship, and market access, driving
the growth of startups and contributing to India's economic agenda of fostering innovation and
entrepreneurship for overall growth.
DPIIT and JK Cement Forge Partnership to Propel Manufacturing and Innovation
● The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of
Commerce & Industry, has signed a Memorandum of Understanding (MoU) with JK Cement, a
leading cement manufacturer, to foster innovation, empower entrepreneurs, and strengthen
India’s manufacturing ecosystem.
● Objective:Transform India into a global manufacturing hub by supporting startups, innovators,
and entrepreneurs.

India and EU Reaffirm Commitment to Human Rights and Democratic Values

● India and the European Union (EU) reinforced their shared commitment to safeguarding human
rights, democracy, and the rule of law during the India-EU Human Rights Dialogue held in New
Delhi.

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 Important Monthly Current Affairs Capsule – January 2025

● The dialogue emphasized the protection of civil society, journalists, and other stakeholders,
promoting freedoms and fostering cooperation on key global issues.
● Both parties agreed to protect the freedom, independence, and diversity of civil society
organizations, journalists, and stakeholders.

India and Maldives Strengthen Defence and Economic Partnership

● India and the Maldives reaffirmed their commitment to enhance bilateral ties into a
comprehensive economic and maritime security partnership during talks between India’s Defence
Minister Rajnath Singh and his Maldivian counterpart Mohammed Ghassan Maumoon in New
Delhi.
● Both nations reiterated their determination to work closely towards the India-Maldives
Comprehensive Economic and Maritime Security Partnership, agreed upon in October 2023.
● Discussions emphasized boosting the capability of the Maldives National Defence Force
(MNDF).

Odisha Boosts Agricultural Exports Through Strategic MoUs at Krushi Odisha 2025
● The Directorate of Horticulture, Odisha, in partnership with Palladium Consulting India Pvt Ltd,
signed 11 MoUs with private sector exporters during Krushi Odisha 2025.
● The agreements aim to enhance exports and value addition of Odisha's fresh fruits and
vegetables, empowering farmers with better market access, fair pricing, and global opportunities.

MRPL Partners with ISPRL to Enhance Crude Oil Storage Capacity

● Mangalore Refinery and Petrochemicals Ltd (MRPL) has partnered with Indian Strategic
Petroleum Reserves Ltd (ISPRL) to utilize ISPRL’s cavern storage infrastructure.
● This collaboration aims to strengthen MRPL's crude oil storage and energy security capabilities.
Assam Signs MoU with SBI and UBI for Zero-Premium Insurance Benefits
● The Assam government entered into an agreement with the State Bank of India (SBI) and Union
Bank of India (UBI) on January 1, 2025.
● This initiative aims to provide over four lakh state government employees with zero-premium
insurance benefits.
● This move underscores the Assam government’s commitment to enhancing the welfare and
security of its employees.

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 Important Monthly Current Affairs Capsule – January 2025

Salam Kisan Partners with IIT Ropar to Advance Agritech Innovation

● Salam Kisan, a leading agritech platform, has entered into a Memorandum of Understanding
(MoU) with the Indian Institute of Technology (IIT) Ropar to foster agritech innovation through
advanced technologies.
● The partnership was officially announced at the World Agri-Tech Innovation Summit 2024 in
Dubai.
● Technological Collaboration: The partnership aims to utilize Artificial Intelligence (AI), Internet of
Things (IoT), and cyber-physical systems to empower farmers and promote sustainable
agricultural practices.
FIU-IND and IRDAI Sign MoU for Enhanced Cooperation in Combating Financial Crimes
● The Financial Intelligence Unit-India (FIU-IND) and the Insurance Regulatory and Development
Authority of India (IRDAI) signed a Memorandum of Understanding (MoU), aimed at
strengthening their collaborative efforts to implement anti-money laundering (AML) and
combating the financing of terrorism (CFT) measures.
● Mutual Cooperation: Focus on collaboration between FIU-IND and IRDAI in the areas of anti-
money laundering (AML) and combating the financing of terrorism (CFT).
Infosys Partners with Andhra Pradesh for Skill Census Program
● Infosys has announced its collaboration with the Andhra Pradesh Skill Development Corporation
(APSDC) to implement an ambitious skill census program aimed at enhancing employment
opportunities in the state.
● The initiative seeks to assess and develop skills among the state's youth, leveraging advanced
digital platforms and AI-powered tools.
● Partnership Details:
o Infosys will provide a digital platform powered by generative AI for pre-certification of
candidates’ skills, irrespective of financial constraints.
o The Memorandum of Understanding (MoU) was signed in the presence of Nara Lokesh,
Minister for Education, IT, and Electronics.
Google strikes world's largest biochar carbon removal deal with Indian startup Varaha
● Google has agreed to purchase 100,000 tons of carbon dioxide removal credits from Indian
startup Varaha, its first such deal with a carbon project in India and the largest involving biomass-
produced biochar (also called horticultural charcoal or black gold for soils).

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 Important Monthly Current Affairs Capsule – January 2025

● The offtake agreement credits will be delivered to Google by 2030 from Varahas industrial
biochar project in the western Indian state of Gujarat, the two firms stated.
● Financial terms of the deal were not disclosed. So far, the New Delhi-based startup is the only
Indian company to be listed on carbon removal standard and registry Puro.Earth.
● Biochar is produced in two ways: artisanal and industrial.
About Google:
● Founded: September 4, 1998
● Headquarters: California, U.S.
● CEO: Sundar Pichai
● CEO of Google Cloud: Thomas Kurian

The Colombo Stock Exchange (CSE) and the National Commodity and Derivatives Exchange (NCDEX)
of India, recently signed a Memorandum of Understanding (MoU) to collaborate and explore the
development of derivatives and commodity products in Sri Lanka.
● The Colombo Stock Exchange (CSE) and National Commodity and Derivatives Exchange
(NCDEX) of India have signed a Memorandum of Understanding (MoU) to collaborate on the
development of derivatives and commodity products in Sri Lanka.
● This partnership aims to enhance the product offering and trading instruments at CSE through
knowledge-sharing, technological support, and capacity-building programs.
About NCDEX:
● National Commodity & Derivatives Exchange Limited (NCDEX) is an Indian online commodity
and derivative exchange based in India.
● It is an online technology-driven trading exchange.
● It is a private limited company, its original shareholders were National Stock Exchange of India
(NSE), National Bank for Agriculture and Rural Development (NABARD), CRISIL (now known as
S&P India), Life Insurance Corporation (LIC) ICICI Bank.
About CSE:
● The Colombo Stock Exchange (CSE) is the main stock exchange in Sri Lanka that utilizes
an electronic trading platform.
● The CSE headquarters have been located at the World Trade Center (Colombo) Towers
in Colombo
PRESIDENT MURMU, SINGAPORE PRESIDENT SHANMUGARATNAM UNVEIL COMMEMORATIVE

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 Important Monthly Current Affairs Capsule – January 2025

LOGO AS INDIA AND SINGAPORE MARK 60 YEARS OF DIPLOMATIC TIES

● President Droupadi Murmu and Singapore's President Tharman Shanmugaratnam unveiled a
joint logo on January 16, 2025, in New Delhi to commemorate 60 years of diplomatic ties.
● The logo features colours from both national flags, the lotus (India's national flower), the orchid
(Singapore's national flower), and the number 60, symbolizing mutual trust, friendship, and
shared values.
● India and Singapore have built a robust partnership spanning political, economic, defence,
cultural, and educational domains.
● The relationship now also covers advanced manufacturing, healthcare, digitalization,
sustainability, and skills development.
● Bilateral trade reached USD 35.6 billion in 2023-24, making Singapore Indias 6th largest trade
partner.
● India imported USD 21.2 billion worth of goods from Singapore (a 10.2% decline) and exported
USD 14.4 billion (a 20.2% growth).
● Singapore was Indias largest source of FDI in 2023-24, contributing USD 11.774 billion.
About Singapore:
● Capital: Singapore (city-state)
● President: Tharman Shanmugaratnam
● Prime Minister: Lawrence Wong
● Currency: Singapore dollar
Keir Starmer Signs "Landmark" 100-Year Partnership Agreement With Ukraine
● British Prime Minister Keir Starmer signed a landmark 100-year partnership agreement with
Ukraine during an unannounced visit to Kyiv.
● The agreement emphasizes defence cooperation and recognizes Ukraine as a future NATO ally,
underscoring Britain's steadfast support in the face of Russia's invasion.
● Starmer's arrival in Kyiv coincided with Russian drone strikes, repelled by air defence systems.
● Zelenskys perspective: Ukrainian President Volodymyr Zelensky called the agreement "truly
comprehensive" and highlighted the closeness of ties between the UK and Ukraine.
● Military aid: The UK remains one of Ukraines largest military backers, having pledged £12.8
billion in aid since 2022, including an annual commitment of £3 billion "for as long as it takes."
● Economic support: A £2.2 billion loan backed by frozen Russian assets was also announced.
About Ukraine:

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 Important Monthly Current Affairs Capsule – January 2025

● Capital: Kyiv
● President: Volodymyr Zelenskyy
● Prime Minister: Denys Shmyhal
● Currency: Hryvnia (₴) (UAH)

About United Kingdom:

● Capital: London
● Monarch: Charles III
● Prime Minister: Keir Starmer
● Currency: Pound sterling(£)
Odisha Partners with Singapore’s ITEES to Boost Technology and Skill Development
● The Odisha government has entered a landmark partnership with ITE Education Services (ITEES), a
subsidiary of Singapore’s Institute of Technical Education, to enhance the state's technology and
skill development ecosystem.
● The World Skill Centre in Bhubaneswar will be expanded, with a focus on advanced IT and ITES
areas like:
o Cybersecurity
o Cloud Computing
o Blockchain
o Internet of Things (IoT)
o Data Science
● The Electronics and IT Department signed an MoU with Global Finance and Technology Network
(GFTN) to establish a centre for InsureTech and FinTech growth.
Russia and Iran Sign Comprehensive Strategic Partnership Treaty
● Iranian President Masoud Pezeshkian and Russian President Vladimir Putin have signed a landmark
20-year cooperation pact, signaling deepening ties between two nations heavily sanctioned by the
West.
● The agreement covers various sectors, including trade, military cooperation, energy, science,
culture, and education, marking a new chapter in their bilateral relationship.
ISKCON and Adani Group Serve Over One Lakh Meals Daily at Maha Kumbh Mela 2025
● The International Society for Krishna Consciousness (ISKCON), in partnership with the Adani
Group, provides meals to nearly one lakh people daily at the ongoing Maha Kumbh.

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 Important Monthly Current Affairs Capsule – January 2025

● ISKCON, in collaboration with the Adani Group, is providing meals to over one lakh people
daily during the Maha Kumbh Mela 2025 in Prayagraj.
● Meals are served in three sessions daily, with a single kitchen preparing food for 30,000 to
35,000 people per session.
JSW Group Commits ₹3 Lakh Crore Investment to Boost Maharashtra’s Industrial and Green Growth
● JSW Group has announced plans to invest ₹3 lakh crore across various sectors in Maharashtra,
including in the naxal-infested Gadchiroli
● The commitment was formalized through a Memorandum of Understanding (MoU) signed with
the Maharashtra government at the World Economic Forum (WEF)
7th India-France Maritime Cooperation Dialogue Strengthens Ties for Maritime Security and Blue
Economy
● The 7th India-France Maritime Cooperation Dialogue was held on 14 January 2025 in New Delhi.
● The dialogue was co-chaired by:
● Shri Pavan Kapoor, Deputy National Security Advisor, National Security Council Secretariat,
India.
● Alice Rufo, Director General for International Relations and Strategy, Ministry for the Armed
Forces, France.
Ministry of Defence Signs ₹1,560.52 Crore Contract for 47 Tank-72 Bridge Laying Tanks
● The Ministry of Defence (MoD) has signed a ₹1,560.52 crore contract with Heavy Vehicles
Factory (HVF), a unit of Armoured Vehicle Nigam Limited (AVNL), for the procurement of 47
Tank-72 Bridge Laying Tanks (BLT) for the Indian Army.
● The contract was finalized on January 21, 2025, in the presence of Defence Secretary Shri
Rajesh Kumar Singh in New Delhi.
● The Tank-72 BLT is a vital asset used to launch bridges during offensive and defensive
operations by Mechanised Forces.
Reliance and VPPL Collaborate on Vadhvan Port Project; JNPA Boosts Capacity with ₹2,000 Crore
Expansion
● Reliance Industries (RIL) has signed an MoU with Vadhvan Port Project Limited (VPPL) for the
allocation of a liquid jetty and 50 acres of land at Vadhvan Port under the Public-Private
Partnership (PPP)
● Investment Value: The estimated investment for this project is ₹645 crore, expected to begin
by 2030.

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 Important Monthly Current Affairs Capsule – January 2025

● The Housing and Urban Development Corporation (HUDCO), in partnership with VPPL, has
committed to funding of up to ₹25,000 crore for the development of new ports and PPP projects.
● In December 2024, Terminal Investment Ltd Sàrl (TIL), a Switzerland-based terminal operator,
signed an MoU to invest ₹20,000 crore in constructing Vadhvan Port.
DPIIT Partners with Apna for Startup Talent Hunt Initiative
● The Department for Promotion of Industry and Internal Trade (DPIIT) collaborates with Apna,
India’s leading jobs and professional networking platform.
● The partnership aims to equip DPIIT-registered startups with skilled manpower and create job
opportunities for unemployed youth.
● A Memorandum of Understanding (MoU) was signed, marking a major milestone in strengthening
India’s entrepreneurial ecosystem.
About DPIIT
● Full Form: Department for Promotion of Industry and Internal Trade.
● Ministry: Ministry of Commerce and Industry.
● Founded: 1995 (earlier known as Department of Industrial Policy and Promotion).
● Headquarters: New Delhi.
● Minister: Piyush Goyal, Minister of Commerce and Industry.
Bureau of Energy Efficiency and The Energy and Resources Institute Launch Centre of Excellence for
Energy Transition
● The Bureau of Energy Efficiency (BEE), under the Ministry of Power, Government of India,
and The Energy and Resources Institute (TERI) signed a Memorandum of Understanding
(MoU) to establish a Centre of Excellence for Energy Transition (CoEET).
● The Centre will be located at TERI’s Institute of Energy Transition (IoET) in Hyderabad.
Department for Promotion of Industry and Internal Trade Signs Memorandum of Understanding with
Bhaane Group to Promote Manufacturing Startups
● Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of
Commerce and Industry, signed a Memorandum of Understanding (MoU) with Bhaane Group, a
subsidiary of Shahi Exports Private Limited, the largest manufacturer of apparel in India.
● This collaboration aims to launch incubation programs for startups specializing
in manufacturing and other production sectors, with a focus on fostering relationships with
international startup ecosystems.

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 Important Monthly Current Affairs Capsule – January 2025

● This is part of the Indian government’s efforts to promote new manufacturing

entrepreneurs within the country.
Taural India and Maharashtra Government Sign ₹500 Crore Memorandum of Understanding to Expand
Advanced Manufacturing Facility
● In a strategic move to bolster industrial growth and self-reliance, Taural India, a leading world-
class integrated aluminium foundry, has signed a Memorandum of Understanding (MoU) with
the Government of Maharashtra to expand its advanced manufacturing facility in Supa, Ahilya
Nagar, Maharashtra.
● The MoU was signed at the Maharashtra Pavilion during the World Economic Forum
(WEF) in Davos, in the presence of Shri Devendra Fadnavis, Chief Minister of Maharashtra,
along with other senior government officials.
● The agreement is a significant step toward promoting industrial growth in Tier II regions of
Maharashtra.
About Maharashtra
● Capital: Mumbai
● Chief Minister: Shri Devendra Fadnavis
● Governor: C. P. Radhakrishnan
About WEF
● Founder: Klaus Schwab
● Headquarters: Cologny, Switzerland
● Founded: 24 January 1971
Tripura Becomes First Northeastern State to Sign MoU with Digital India Bhashini
● Tripura has become the first northeastern state to sign an MoU with the Digital India Bhashini
Division (DIBD) under the Ministry of Electronics and Information Technology (MeitY).
● The initiative aims to enhance multilingual governance by using AI and Natural Language
Processing (NLP) for real-time translation services.
● Bhashini’s technology will be integrated into various state platforms like CM Helpline, eVidhan,
Kisan Sahayata App, and e-Districts, making government services more accessible.
India and Indonesia Sign Five MoUs to Strengthen Bilateral Ties
● Five MoUs signed during Indonesian President Prabowo Subianto’s visit to India (January 23-26,
2025).
● President Subianto attended India’s 76th Republic Day as Chief Guest.

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 Important Monthly Current Affairs Capsule – January 2025

● 3rd India-Indonesia CEO Forum identified five key sectors for business collaboration.
Five Key MoUs Signed:
1. Health Cooperation – Strengthening collaboration in medical research, public health, and disease
control.
2. Maritime Safety and Security – Renewed agreement between the Indian Coast Guard and
Indonesia’s BAKAMLA for crime prevention, search & rescue, and capacity building.
3. Traditional Medicine Quality Assurance – Pact between India’s Pharmacopoeia Commission for
Indian Medicine & Homeopathy and Indonesia’s Food and Drug Authority to
ensure standardization of traditional medicines.
4. Digital Development – Joint efforts in digital infrastructure, cybersecurity, and digital startups.
5. Cultural Exchange Program (2025-2028) – Promoting cultural ties and mutual understanding.
About Indonesia:
● Capital: Jakarta
● Currency: Indonesian Rupiah (IDR)
● President: Prabowo Subianto
Indian Chamber of Commerce & Industry and Cochin College Forge Industry-Academia Partnership
● The Indian Chamber of Commerce & Industry (ICCI) and Cochin College have signed a
Memorandum of Understanding (MoU) to promote industry-academia collaboration, aimed at
bridging the gap between academic learning and practical industry experience.
● The partnership seeks to enhance students' educational outcomes and employability.
● The agreement was signed by Akshay Agarwal, President of ICCI, and Mridhula Menon V,
Principal of Cochin College.

RANKING AND REPORTS

LEADS 2024 Report: Gujarat, Karnataka, Maharashtra Lead Logistics Efficiency Rankings
● The Ministry of Commerce and Industry's LEADS (Logistics Ease Across Different States) 2024
report highlights the performance of states and Union Territories (UTs) in logistics, a vital factor
for boosting exports and economic growth.
● The "Achievers" are states and UTs demonstrating top-tier logistical efficiency:
● Gujarat, Karnataka, Maharashtra, Odisha, Tamil Nadu, and Delhi.
● Others in this category: Chandigarh, Haryana, Telangana, Uttar Pradesh, Uttarakhand, Assam,
and Arunachal Pradesh.

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 Important Monthly Current Affairs Capsule – January 2025

India: Second Most Targeted Nation for Cyberattacks in 2024

● India ranked second globally for cyberattacks in 2024, with 95 entities targeted in data theft
incidents, according to the CloudSEK ThreatLandscape Report 2024.
● The United States led with 140 attacks, while Israel came third with 57 incidents due to
geopolitical tensions.
Hanoi Declared World's Most Polluted City: Urgent Health and Environmental Concerns
● Hanoi, Vietnam's capital, has recently been identified as the world’s most polluted city, with
PM2.5 levels reaching an alarming 266 micrograms per cubic meter.
● This severe air quality situation has raised health concerns and triggered governmental actions to
mitigate the crisis.
● Unprecedented Air Quality Levels
● Date of Report: January 3, 2025

India Becomes the Seventh-Largest Coffee Producer Globally with Record Exports and Rising
Consumption
● India has emerged as the seventh-largest coffee producer in the world, with its coffee exports
reaching $1.29 billion in FY 2023-24, nearly doubling from $719.42 million in 2020-21.
● The increase in exports is driven by the rising global demand for India’s rich and unique coffee
flavors.
● Coffee Export Trends:
o In the first half of January 2025, India exported over 9,300 tonnes of coffee, with major
buyers including Italy, Belgium, and Russia.
o Arabica and Robusta beans, which make up about three-fourths of India’s coffee
production, are primarily exported as unroasted beans.
Elon Musk Tops the Forbes Billionaires List for 2025, Tech Moguls Lead Wealth Surge
● Elon Musk remains the world’s richest person in 2025, with a net worth of $433.9 billion, primarily
from Tesla and SpaceX.
● Jeff Bezos follows at #2 with $239.4 billion from Amazon.
● Mark Zuckerberg, Meta founder, moves up to the #3 spot, surpassing Larry Ellison of Oracle.
● The top 10 richest people collectively represent a significant portion of the $10 trillion combined
wealth, largely driven by US technology stocks.
NITI Aayog Releases Fiscal Health Index: Odisha Tops, Punjab Ranks Last

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 Important Monthly Current Affairs Capsule – January 2025

● NITI Aayog released the Fiscal Health Index (FHI) for 18 major states in India, analyzing their fiscal
health based on GDP contribution, demography, public expenditure, revenues, and fiscal stability.
Fiscal Health Index 2025 – State Rankings
Category States (Rank)

Achiever Odisha (1), Chhattisgarh (2), Goa (3), Jharkhand (4), Gujarat (5), ...

Front Runner Maharashtra (6), Uttar Pradesh (7), Telangana (8), Madhya Pradesh (9),
Karnataka (10), ...

Performer Tamil Nadu (11), Rajasthan (12), Bihar (13), Haryana (14), ...

Aspirational Kerala (15), West Bengal (16), Andhra Pradesh (17), Punjab (18)

1. Top Performing States:

o Odisha topped the index with a score of 67.8, excelling in Debt Index (99.0) and Debt
Sustainability (64.0). Odisha’s fiscal health reflects low fiscal deficits, a good debt profile,
and strong capital outlay/GSDP ratio.
2. Bottom-Performing States:
o Punjab ranked lowest with a score of 10.7. Punjab faced significant challenges,
including low Quality of Expenditure, Fiscal Prudence, and Debt Index. The state performed
slightly better in Revenue Mobilization and Debt Sustainability.
3. Fiscal Health Indicators:
o The Fiscal Health Index is based on analysis of five indicators, each with its own sub-
indices:
▪ Quality of Expenditure
▪ Revenue Mobilization
▪ Fiscal Prudence
▪ Debt Index
▪ Debt Sustainability
o Data was sourced from the Comptroller and Auditor General (CAG).
About NITI Aayog:

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 Important Monthly Current Affairs Capsule – January 2025

● Established in 2015, replaced the Planning Commission.

● Headquarters: New Delhi
● CEO (2025): Shri BVR Subrahmanyam
DeepSeek AI Surpasses ChatGPT on US App Store
● Chinese AI startup DeepSeek has made significant strides by overtaking OpenAI’s ChatGPT as
the most downloaded free app in the U.S. on Apple’s App Store.
● Founded in 2023, DeepSeek has quickly become a key player in the AI industry, primarily due to
its advanced AI models like R1, a reasoning model that competes directly with OpenAI’s offerings.
Key Highlights:
● DeepSeek’s Emergence:
o Founded by Liang Wenfeng, co-founder of High-Flyer (a quantitative hedge fund).
o Originated from High-Flyer’s AI research unit, focusing on large language
models and artificial general intelligence (AGI).
● R1 Model Success:
o R1, an open-source reasoning model, has been lauded for its performance and capabilities,
rivaling OpenAI’s GPT
About DeepSeek:
● DeepSeek AI is an advanced conversational AI platform known for excelling in document
summarization, key information extraction, and precise question-answering.
● It integrates natural language processing (NLP) and machine learning to enhance information
retrieval and analysis.
● Compared to ChatGPT, DeepSeek AI is often more accurate and detailed when handling factual
queries and complex data analysis, making it a formidable competitor in the AI space.

ACQUISITION AND MERGERS

SBI Life to Acquire 10% Stake in Bima Sugam India Federation for ₹6.6 Crore
● SBI Life's board has approved the acquisition of a 10% stake in Bima Sugam India Federation for
₹6.6 crore.
● Bima Sugam India Federation is an unlisted company, incorporated on June 18, 2024, to create
and operate a centralized marketplace for insurance products and services.
Reserve Bank of India approves merger of National and Cosmos Co-operative Banks, effective January

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 Important Monthly Current Affairs Capsule – January 2025

6, 2025
● The Reserve Bank of India (RBI) has approved the merger of National Co-operative Bank
(Bangalore) with Cosmos Co-operative Bank (Maharashtra), effective January 6, 2025.
● The RBI sanctioned the merger under Sub-Section (4) of Section 44A and Section 56 of the
Banking Regulation Act, 1949.

BharatPe to Divest Up to 25% Stake in Unity SFB, Appoints Rothschild for Advisory
● BharatPe, a new-age non-bank lender, plans to sell between 10% and 25% of its stake in Unity
Small Finance Bank (SFB), depending on buyer interest.
● BharatPe currently holds around 49% of the stake in Unity SFB.
● BharatPe has hired Rothschild & Co., an investment bank, to assist in finding potential buyers,
primarily focusing on private equity firms and large family offices.
About BharatPe :
● Founded : 2018
● Headquarters : 2018
● Chairman : Rajnish Kumar
● CEO : Nalin Negi
Competition Commission of India Clears Avenue-Mavco and MHM Merger Through Green Channel Route
● The Competition Commission of India (CCI) granted automatic approval for the Avenue-Mavco
acquisition of MHM Holding GmbH under the Green Channel route.
● The Green Channel route is a fast-track approval process used for transactions with no
significant competition concerns or overlaps in the Indian market.
● Avenue India Emergence Private. Limited. (Avenue) and Mavco Investments Private Ltd.
(Mavco) will jointly acquire 100% ownership of MHM Holding GmbH, the parent company of
Hubergroup.
About CCI :
● Founded : 14 October 2003
● Headquarters : New Delhi, India
● Chairman : Ravneet Kaur

Reserve Bank of India approves HDFC Bank's acquisition of 9.5% stake in Kotak Bank, AU, and Capital
Small Finance Banks

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 Important Monthly Current Affairs Capsule – January 2025

● The Reserve Bank of India (RBI) has approved HDFC Bank's plan to acquire an aggregate stake
of up to 9.5% in Kotak Mahindra Bank, AU Small Finance Bank, and Capital Small Finance Bank.
● The RBI's approval is valid until January 2, 2026.
● HDFC Bank and its group entities (including HDFC Mutual Fund, HDFC Life Insurance, HDFC
ERGO General Insurance, and HDFC Pension Fund) are restricted to an aggregate holding of
9.5% of the share capital or voting rights in the three banks.

Suzuki to Purchase 26% Stake in National Dairy Development Board;s Biogas Project
● Suzuki Motor Corporation has decided to acquire a 26% stake in NDDB Mirda Limited, a bio-gas
venture of National Dairy Development Board (NDDB), as part of its plans to use Compressed
Bio-Gas (CBG) for longevity and performance of vehicles.
● The remaining 74% will remain with NDDB.
About Suzuki Motor Corporation :
● Founded : October 1909
● Headquarters : Shizuoka, Japan
● President, , Representative Director & Chairman : Toshihiro Suzuki
About NDDB :
● Founded : 16 July 1965
● Location : Anand, Gujarat, India
● Chairman : Dr. Meenesh Shah

Airtel and Vodafone Idea Divest Full Stake in Wi-Fi JV Firefly to iBus for Rs 9 Crore
● Bharti Airtel and Vodafone Idea sold their entire stake in Firefly Networks, a Wi-Fi infrastructure
company, to iBus Network and Infrastructure for Rs 9 crore.
● Firefly Networks Limited was a 50-50 joint venture between Vodafone Idea and Bharti Airtel.
● The deal is expected to close within 30 business days from the date of the agreement between
the firms.

Competition Commission of India approves acquisition of up to 68.9% stake in Roop Automotives Limited
by CA Carob Investments

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 Important Monthly Current Affairs Capsule – January 2025

● The Competition Commission of India (CCI) has approved a proposed combination involving
interconnected steps resulting in the acquisition of up to 68.9% shareholding in Roop
Automotives Limited (RAL) by CA Carob Investments (Investor).
● Key Steps in the Combination:The combination includes a securities swap between Highway
Industries Limited (HIL) Shareholder and RAL.
About CCI :
● Formed : 14 October 2003
● Headquarters : New Delhi, India
● Chairman : Ravneet Kaur

Competition Commission of India clears Gentari Renewables India’s acquisition of 21 special purpose
vehicles with renewable power plants and their holding companies
● The Competition Commission of India (CCI) has approved the acquisition of 21 Special Purpose
Vehicles (SPVs) that own renewable power generation plants, as well as the holding companies
of certain SPVs, by Gentari Renewables India Private. Limited.
● Gentari Renewables India, a subsidiary of Petroliam Nasional Berhad, is the acquirer.

Competition Commission of India approves acquisition of Pegatron India shares by Tata Electronics and
transfer of TEL Components' business to Pegatron India
● The Competition Commission of India (CCI) approved the acquisition of a certain shareholding in
Pegatron Technology India Private. Limited. (Pegatron India) by Tata Electronics Private.
Limited. (TEPL) and the transfer of TEL Components Private. Limited. 's (TEL) business to
Pegatron India.
● Details of the Proposed Combination:TEPL intends to acquire a majority shareholding in
Pegatron India in two phases (tranches).
● TEL, a wholly-owned subsidiary of TEPL, will transfer its business undertaking to Pegatron India.
About TEPL :
● TEPL is a wholly-owned subsidiary of Tata Sons Pvt. Ltd.
● It specializes in manufacturing high-precision components for large customers, particularly
smartphone enclosures.
● TEPL provides electronics manufacturing services (EMS) for smartphones through its subsidiary,
Tata Electronics Systems Solutions.

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 Important Monthly Current Affairs Capsule – January 2025

About TEL :
● TEL is setting up a greenfield facility for providing EMS for smartphones.
● It is a wholly owned subsidiary of TEPL.
About Pegatron India:
● Pegatron India is a subsidiary of Pegatron Corporation, providing EMS for smartphones.
● It serves a global smartphone brand and exports products to North America, Asia, and Europe, in
addition to the Indian market.
Steel Ministry Proposes Merger of NMDC and Kudremukh Iron Ore Company Limited, Proposal
Submitted to Department of Public Enterprises for Approval
● The Steel Ministry of India has proposed the merger of NMDC (National Mineral Development
Corporation) with Kudremukh Iron Ore Company Limited (KIOCL).
● The merger proposal follows KIOCL’s inability to start mining operations at Devadiri in Karnataka.
About KIOCL:
● KIOCL is a Mini Ratna company, set up in 1976 for iron ore mining and beneficiation at
Kudremukh.
● KIOCL is the only export-oriented iron-ore miner in India with export clearances.
About NMDC:
● NMDC is India’s largest iron ore producer and exporter.
● NMDC is a public sector undertaking involved in the exploration of various minerals like iron ore,
rock, gypsum, magnesite, diamond, tin, tungsten, graphite, and coal.
● Headquarters: Hyderabad, Telangana.
Competition Commission of India Approves Ashoka Buildcons Acquisition of 34% Stake in Ashoka
Concessions and Convertible Instruments, Along with Viva Highways 26% Stake in Jaora Nayagaon Toll
Road Company
● The Competition Commission of India has approved Ashoka Buildcon's (ABL) acquisition of 34%
equity shareholding in Ashoka Concessions Limited (ACL) and certain convertible instruments of
ACL by ABL and Viva Highways (Viva).
● Additionally, the approval covers the acquisition of a 26% shareholding in Jaora Nayagaon Toll
Road Company (JN) by Viva.
About CCI :
● Formed : 14 October 2003
● Headquarters : New Delhi, India

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 Important Monthly Current Affairs Capsule – January 2025

● Chairman : Ravneet Kaur

Competition Commission of India Approves Proposed Combination Involving Agro Tech Foods Limited,
Bharti Enterprises Limited, DMPL India Limited, and Del Monte Foods Private Limited
● The Competition Commission of India (CCI) has approved the proposed combination
involving Agro Tech Foods Limited (ATFL), Bharti Enterprises Limited (BEL), DMPL India Limited
(DMPL India), and Del Monte Foods Private Limited (DMFPL).
● The combination includes the acquisition of 100% shareholding in DMFPL by ATFL from its
existing shareholders, which are BEL, Bharti Units, and DMPL India.
● Following this acquisition, DMFPL will become a wholly-owned subsidiary of ATFL.
● To complete the transaction, ATFL will issue 20.95% equity shares to Bharti and 14.39% equity
shares to DMPL India as a preferential allotment.
About CCI :
● Founded : 14 October 2003
● Headquarters : New Delhi, India
● Chairman : Ravneet Kaur
Competition Commission of India Approves Proposed Amalgamation of Several Entities with Sequent
Scientific Limited as the Ultimate Surviving Entity
● The Competition Commission of India (CCI) has approved the proposed amalgamation of several
entities with Sequent Scientific Limited (SSL) as the ultimate surviving entity.
● SSL, a publicly listed global player in the animal healthcare industry, offers Active Pharmaceutical
Ingredients (APIs), finished dosage formulations (FDFs), and analytical services.
● Its wholly owned subsidiary, Sequent Research Limited (SRL), provides contract
research and analytical services to the global pharmaceutical industry.
Competition Commission of India Approves Proposed Acquisition of AI Lenarco Midco Ltd. by Majesty II
Pte. Ltd. and Acquisition of Compulsory Convertible Debentures in Manjushree Technopack Limited by
Ashoka India Equity Investment Trust, Nuvama Private Investment Trust, and InCred Growth Partners
Fund – I
● The Competition Commission of India (CCI) has approved the proposed acquisition of AI Lenarco
Midco Ltd. by Majesty II Pte. Ltd. and the acquisition of certain compulsory convertible
debentures in Manjushree Technopack Limited by Ashoka India Equity Investment Trust
plc, Nuvama Private Investment Trust, and InCred Growth Partners Fund – I.
● The proposed combination involves the acquisition of the entire equity shareholding in AI Lenarco

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 Important Monthly Current Affairs Capsule – January 2025

Midco Ltd. by Majesty II Pte. Ltd., which will lead to the indirect acquisition of a majority equity
stake in Manjushree Technopack Limited.
● Additionally, Ashoka India Equity Investment Trust plc, Nuvama Private Investment Trust,
and InCred Growth Partners Fund – I (collectively referred to as Co-Investors) propose to acquire
minority investments in the form of compulsory convertible debentures in Manjushree Technopack
Limited from AI Lenarco Midco Ltd
Competition Commission of India Approves Renew Exim DMCC’s Acquisition of 72.64% Stake in ITD
Cementation India
● The Competition Commission of India (CCI) has approved the proposed acquisition of up
to 72.64% shareholding in ITD Cementation India Limited by Renew Exim DMCC.
● The acquisition involves Renew Exim DMCC acquiring approximately 46.64%, or 8,01,13,180
shares, of ITD Cementation India’s total issued and voting equity share capital.
● Additionally, an open offer has been launched by the acquirer for further acquisition of up
to 4,46,64,772 fully paid-up equity shares, representing about 26% of the target’s voting share
capital.

CURRENT AFFAIRS: BOOKS & AUTHOR

Amitav Ghosh discusses his new book, "Wild Fictions," addressing climate change and societal issues in
a "time of monsters."
● Ghosh unveils his book Wild Fictions (Essays) with former foreign secretary, Shyam Saran, at
India International Centre (IIC).
● At the launch of his new book, Wild Fictions (Essays), Ghosh also delivered the CD Deshmukh
Memorial lecture on the theme "Time of Monsters, Time of Possibilities: Reflections of an
Interstitial Era."
Pankaj Mishra’s The World After Gaza: A Reflection on Morality, Suffering, and Global Politics
● Pankaj Mishra’s latest work, The World After Gaza, offers a poignant and deeply critical
exploration of the ongoing war in the Palestinian Gaza Strip.
● Mishra describes this conflict as a devastating blow to the ideals of human rights and morality,
emphasizing the atrocities and systematic injustices that have come to define the war.
● Published by Juggernaut Books, the treatise serves as a reflection on global moral decay, as
Mishra examines how this conflict, like many others, highlights the growing moral incapacities of
the modern world.

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 Important Monthly Current Affairs Capsule – January 2025

Prime Minister Narendra ModiLauds Amitabh Kant’s Book: ‘How India Scaled Mt. G-20’
● Amitabh Kant, India’s G-20 Sherpa, authored the book ‘How India Scaled Mt. G-20’, published by
Rupa Publications chronicling India’s achievements during its G-20 Presidency.
● The book highlights India’s determination and collaborative efforts in making the 2023 G-20
Summit in New Delhi a historic success.
● Prime Minister Narendra Modi praised the book as a commendable endeavour, providing a clear
perspective on India’s efforts toward human-centric development.
Soumitra Chatterjee: The Legacy of Apu and Beyond
● Soumitra Chatterjee, the legendary Bengali actor, poet, artist, and theatre personality, has left an
indelible mark on Indian cinema, especially through his memorable collaborations with Satyajit
Ray in timeless classics like Apur Sansar and Sonar Kella.
● It was published by Penguin India Vintage books

DEFENCE NEWS
Indian Navy to commission 3 key fleet assets: Nilgiri, Surat, and Vagsheer
● 15 January 2025 is set to become a landmark day in India’s history as the Indian Navy prepares
to commission three frontline combatants - Nilgiri, the lead ship of the Project 17A stealth frigate
class; Surat, the fourth and final ship of the Project 15B stealth destroyer class; and Vaghsheer,
the sixth and final submarine of the Scorpene-class project - together at Naval Dockyard,
Mumbai.
● This historic event will provide a significant boost to the Indian Navy’s combat potential while
underscoring the country’s pre-eminent status in indigenous shipbuilding.
About Ministry of Defence :
● Defence Minister : Rajnath Singh
● Minister of State : Sanjay Seth

Ministry of Defence designates 2025 as the 'Year of Reforms'

● The Ministry of Defence has declared 2025 as the "Year of Reforms" to modernize India’s armed
forces and prepare them for future challenges.
● Reforms will enhance Jointness and Integration initiatives, aiming for the establishment of
Integrated Theatre Commands.

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 Important Monthly Current Affairs Capsule – January 2025

● The reforms will prioritize new domains like Cyber and Space, as well as emerging technologies
such as Artificial Intelligence (AI), Machine Learning (ML), Hypersonics, and Robotics.
Two Fast Patrol Vessels Built by Goa Shipyard Limited for Indian Coast Guard Launched in Goa
● Two Fast Patrol Vessels (FPVs) - Amulya and Akshay - indigenously designed and constructed
by the Goa Shipyard Limited (GSL) for the Indian Coast Guard (ICG) were launched in the
presence of Secretary (Defence Production) Shri Sanjeev Kumar in Goa on January 05, 2025.
● The two FPVs are the third and fourth vessels of the fleet of eight FPVs being constructed by
GSL for ICG, underscoring the shipyard’s pivotal role in realising the vision of Aatmanirbharta in
defence production.
About Ministry of Defence :
● Defence Minister : Rajnath Singh
● Minister of State : Sanjay Seth

India and the United States. to collaborate on producing interoperable sonobuoys for the Navy
● India and the United States (US), announced a partnership to co-produce U.S. sonobuoys for
Undersea Domain Awareness (UDA), a technology crucial for tracking submarines in deep seas
and oceans.
● This partnership comes in response to the growing Chinese naval presence in the Indian Ocean
Region.
● Co-production Details:Ultra Maritime (UM) and Bharat Dynamics Limited (BDL) will collaborate
on producing sonobuoys for the Indian Navy, adhering to U.S. Navy standards.

Ministry of Defence Signs Rs 2,960 Crore Deal with Bharat Dynamics Limited for Medium-Range Surface-
to-Air Missiles for Indian Navy Under Aatmanirbhar Bharat Initiative
● The Ministry of Defence (MoD) signed a contract with Bharat Dynamics Limited (BDL) for
Medium-Range Surface-to-Air Missiles (MRSAM) for the Indian Navy.
● The contract is valued at approximately Rs 2,960 crore.
● The agreement was signed in New Delhi on January 16, 2025, in the presence of Defence
Secretary Shri Rajesh Kumar Singh.
● Purpose and Significance:The MRSAM system is designed for onboard use on multiple Indian
Naval Ships.
About Ministry of Defence :

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 Important Monthly Current Affairs Capsule – January 2025

● Defence Minister : Rajnath Singh

● Minister of State : Sanjay Seth
Indian Army to hold 'Exercise Devil Strike' from January 16-19,2025
● The Indian Armed Forces are set to conduct Exercise Devil Strike from January 16 to 19,2025, a
joint exercise involving the elite airborne soldiers from the Indian Army and the Indian Air Force.
● The exercise will occur at the training areas and firing ranges, validating critical drills and
enhancing operational readiness in a challenging environment.
● The exercise comprises complex airborne operations on various aircraft including troop and
equipment insertion in hostile terrain.
● Exercise Devil Strike underscores the Indian Armed Forces' commitment to maintaining
operational excellence and adaptability in the ever-evolving military landscape.
Indian Naval Ship Mumbai to Join Multi-National Exercise La Perouse
● The Indian Naval Ship (INS) Mumbai, an indigenously designed and built guided missile
destroyer, is participating in the 4th edition of the Multinational Exercise La Perouse.
● Participants: The exercise involves personnel and assets from multiple navies, including the
Royal Australian Navy, French Navy, Royal Navy, United States Navy, Indonesian Navy, Royal
Malaysian Navy, Republic of Singapore Navy, and Royal Canadian Navy.
● Exercise Objective: The aim of the exercise is to enhance maritime cooperation and situational
awareness, focusing on maritime surveillance, interdiction operations, and air operations, along
with training and information sharing.
History :
● The 1st edition of the La Perouse multinational naval exercise was held in 2019, and was led by
France.
● The 3rd edition of the exercise is scheduled to be conducted in the Indian Ocean Region from 13
to 14 March 2023.
Prime Minister Narendra Modi Inaugurates INS Surat, INS Nilgiri, and INS Vaghsheer at Mumbai Naval
Dockyard
● Prime Minister Shri Narendra Modi commissioned three advanced naval combatants: INS Surat,
INS Nilgiri, and INS Vaghsheer at a ceremony held at the Naval Dockyard in Mumbai.
● These combatants were dedicated to the nation as part of enhancing India's naval capabilities.
● Currently, 60 large ships worth approximately ₹1.5 lakh crore are being built in India.

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 Important Monthly Current Affairs Capsule – January 2025

● INS Nilgiri is the lead ship of the Project 17A stealth frigate class and represents a major
advancement over the previous Shivalik-class frigates.
● It was designed by the Indian Navy’s Warship Design Bureau and built at Mazagon Dock
Shipbuilders Limited (MDL).
● INS Surat is the fourth and final ship of the Project 15B stealth destroyer class, succeeding the
Kolkata-class destroyers.
● INS Vaghsheer is the sixth and final submarine under Project 75 (Scorpene-class).
● It is a diesel-electric submarine designed for various roles including anti-surface warfare, anti-
submarine warfare, and intelligence gathering.
Defence Research and Development Organisation Initiates Development of Long-Duration Scramjet-
Powered Hypersonic Technology
● Defence Research & Development Laboratory (DRDL), Hyderabad, has developed Supersonic
Combustion Ramjet (Scramjet) powered hypersonic technology.
● DRDL successfully conducted an Active Cooled Scramjet Combustor ground test for 120 seconds,
a first in India, demonstrating ignition and stable combustion, which are critical for hypersonic
vehicles.
● Hypersonic missiles travel at speeds greater than Mach 5 (over 5,400 km/hr), capable of
bypassing Air Defence Systems and delivering rapid, high-impact strikes.
● Nations such as the USA, Russia, India, and China are actively pursuing this advanced technology.
About DRDO:
● Established: 1958
● Headquarters: New Delhi, India
● Chairman: Dr. Samir V Kamat
Ministry of Defence Signs ₹1,561 Crore Deal with Heavy Vehicles Factory for 47 T-72 Bridge Laying
Tanks for Indian Army
● The Ministry of Defence (MoD) has signed a ₹1,561 crore contract with Heavy Vehicles Factory
(HVF) for the procurement of 47 T-72 Bridge Laying Tanks (BLT) for the Indian Army.
● Heavy Vehicles Factory (HVF) is a unit of Armoured Vehicle Nigam Limited (AVNL).
● The contract was signed in the presence of Defence Secretary Rajesh Kumar Singh and senior
officials of the ministry, HVF, and AVNL.
About Ministry of Defence:
● Cabinet Minister: Rajnath Singh

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 Important Monthly Current Affairs Capsule – January 2025

● Minister of State (MoS): Ajay Bhatt

INS Sarvekshak completes major hydrographic survey in Mauritius
● INS Sarvekshak successfully completed the final phase of the hydrographic survey of Mauritius,
covering over 25,000 sq. nautical miles.
● During a reception ceremony, Shri Anurag Srivastava, High Commissioner of India to Mauritius,
handed over the survey’s fair sheet, newly prepared nautical charts, and survey
equipment to Dharambeer Gokhool, the Hon’ble President of Mauritius.
● This new chart will help Mauritius improve its maritime infrastructure, resource management,
and coastal development planning.
● The milestone event highlights the strong India-Mauritius partnership in maritime
development and regional cooperation.
● Additionally, a joint India-Mauritius yoga session was held on 20 January 2025, with the
participation of the ship’s crew, personnel from the National Coast Guard of Mauritius, and
the Indira Gandhi Centre for Indian Culture (IGCIC).
Raksha Mantri Shri Rajnath Singh Launches ‘SANJAY – The Battlefield Surveillance System’ in New
Delhi
● Raksha Mantri Shri Rajnath Singh flagged off ‘SANJAY – The Battlefield Surveillance System
(BSS)’ from South Block, New Delhi on January 24, 2025.
● SANJAY is an automated system that integrates inputs from all ground and aerial battlefield
sensors, processes them to verify their accuracy, prevents duplication, and fuses them to create
a Common Surveillance Picture of the battlefield over secured Army Data Network and Satellite
Communication Network.
● This will enhance battlefield transparency and transform future operations through a Centralised
Web Application, which will provide inputs to Command & Army Headquarters and the Indian Army
Decision Support System.
Indian Navy’s 7th Anti-Submarine Warfare Shallow Water Craft (ASW SWC) Project Progresses with Keel
Laying of ‘Machilipatnam’

● The Keel Laying of the 7th ship (BY 529, Machilipatnam) under the Anti-Submarine Warfare
Shallow Water Craft (ASW SWC) project was conducted on 29 Jan 25 in the presence of RAdm
Upal Kundu, Chief of Staff, Southern Naval Command.

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 Important Monthly Current Affairs Capsule – January 2025

● Senior officials from the Indian Navy and Cochin Shipyard Limited (CSL) also attended the
ceremony.
● With almost all major and auxiliary equipment sourced from indigenous manufacturers, these
ships exemplify the Aatmanirbhar Bharat initiative.
● This milestone follows the Keel Laying of the sixth ship in Dec 24 and the Launching of the fourth
and fifth ships in Sep 24, showcasing the dedication of Indian Shipyards in fulfilling the Indian
Navy’s operational requirements.

SCIENCE & TECHNOLOGY

China Introduces World's Fastest High-Speed Train Prototype
● China unveiled its CR450 prototype, a high-speed bullet train designed to achieve 450 km/h
during test runs, making it the world's fastest high-speed train.
● The CR450 surpassed the previous CR400 Fuxing model, which had a maximum speed of 350
km/h.
● China’s High-Speed Rail Network:China's operational HSR network spans about 47,000 km,
connecting major cities across the country.
China Unveils New Amphibious Assault Ship to Boost Naval Combat Capabilities
● China launched a new amphibious assault ship, named Sichuan, designed to enhance the navy's
combat capabilities, particularly in distant seas.
● Ship Specifications:The Sichuan is the first ship of the 076 type and is China's largest
amphibious assault ship to date, displacing 40,000 tonnes.
● The ship is equipped with an electromagnetic catapult that allows fighter jets to launch directly
from its deck.
About China :
● President : Xi Jinping
● Capital : Beijing
● Currency : Renminbi
Tata Elxsi Partners with Qualcomm Technologies to Develop Virtual Models of Snapdragon Digital
Chassis Solutions for Cloud-Native Applications
● Tata Elxsi has announced a collaboration with Qualcomm Technologies, Inc. to develop virtual
models of Snapdragon Digital Chassis solutions for cloud-native application development aimed
at accelerating the adoption of Software-Defined Vehicles (SDV) in next-gen mobility.

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 Important Monthly Current Affairs Capsule – January 2025

● Technology Demonstration at CES 2025:The collaboration will be demonstrated at the Consumer

Electronics Show (CES) 2025, where Tata Elxsi will showcase the development of a virtual
electronic control unit (ECU) platform.

IIT Bombay Develops Bacteria to Absorb Toxic Pollutants in Soil and Generate Beneficial Nutrients
● Indian Institute of Technology (IIT) Bombay researchers have identified bacteria that can
consume toxic pollutants in the soil and produce helpful nutrients as byproducts.
● The research was published in the journal Environmental Technology and Innovation.
● The bacteria are capable of removing organic pollutants from the soil, including aromatic
compounds, which are commonly used in pesticides and other industrial products.

IIT Madras collaborates with Ministry of Agriculture on Project Virtually Integrated System to Access
Agricultural Resources to enhance agricultural resource access
● The Indian Institute of Technology (IIT) Madras has announced a collaboration with the Ministry of
Agriculture and Farmers’ Welfare on Project VISTAAR (Virtually Integrated System to Access Agricultu
Resources).
● The initiative aims to enhance the efficiency and effectiveness of the agricultural extension system thro
digitalisation.
● This will help farmers and other stakeholders access the capabilities and offerings of these start-ups m
easily.
Department for Promotion of Industry and Internal Trade Collaborates with Stride Ventures to Boost
Growth and Global Expansion of Indian Startups
● The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with Stride
Ventures, a venture debt firm, to support high-growth potential startups in fulfilling their funding
needs.
● Objectives of the Collaboration:This partnership aims to create significant opportunities for
startups by combining financial support, strategic mentorship, and market access.
About Ministry of Commerce & Industry :
● Cabinet Minister : Piyush Goyal
● Minister of State : Jitin Prasada

ISRO's SpaDeX Satellites: First to Be Independently Built by Industry

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 Important Monthly Current Affairs Capsule – January 2025

● The Space Docking Experiment (SpaDeX) marked the first industry-developed satellites for
space docking, built under the guidance of Indian Space Research Organisation (ISRO)
engineers.
● Satellites and Orbit Details:The two satellites, SDX01 (chaser) and SDX02 (target), each
weighing 220 kg, were placed in a 476 km circular orbit using the Polar Satellite Launch Vehicle
(PSLV-C60).
● Ananth Technologies Limited (ATL), a partner with ISRO for many years, integrated and tested
the two spacecraft.
About ISRO :
● Established: 15 August 1969
● Headquarters: Bangalore, Karnataka, India
Pixxel Partners with SIIS to Launch Hyperspectral Satellite Data in Korea
● Pixxel, a Bengaluru-based space technology startup, has signed an Memorandum of
Understanding (MoU) with SIIS Co to supply hyperspectral satellite data in Korea.
● Agreement Details: The MoU, finalized at the Satellite Utilisation Conference in Seoul, aims to
deliver high-resolution hyperspectral imaging to industries and institutions in Korea.
● Fireflies Constellation: Pixxel is preparing to launch its Fireflies constellation of six commercial-
grade hyperspectral satellites in early 2025.
About Pixxel :
● Founded : February 2019
● Headquarters : Bangalore, Karnataka
● Founder and CEO : Awais Ahmed

Iran Sends Domestically Designed and Manufactured Space Tug into Orbit
● Iran launched a domestically designed and manufactured space tug, developed by Iranian
experts and technicians.
● The space tug was launched aboard a homegrown satellite launch vehicle (SLV), highlighting
Iran's growing capabilities in space technology.
● The launch took place using the Simorgh launcher from the Imam Khomeini Space Launch
Terminal.
About Iran :
● President : Masoud Pezeshkian

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 Important Monthly Current Affairs Capsule – January 2025

● Capital : Tehran
● Currency : Iranian rial
Microsoft Chairman and Chief Executive Officer Satya Nadella Announces Cloud and AI-Driven Strategic
Partnerships with Indian Government and Industry Leaders
● Satya Nadella, Chairman and CEO of Microsoft, announced cloud and AI-led strategic
partnerships with the Indian government and industry leaders across key sectors of the Indian
economy.
● Microsoft is partnering with the Ministry of Electronics and Information Technology (MeitY) under
the IndiaAI Mission.
● The goal of the partnership is to make India a global leader in artificial intelligence (AI).
About Microsoft:
● Founded : April 4, 1975
● Headquarters : Washington, United States
● Chairman & CEO : Satya Nadella
● Microsoft is an American multinational technology company founded by Bill Gates and Paul
Allen.
ICAR-NBAGR acknowledges the Gaddi dog, an indigenous breed from the Himalayas
● The Indian Council of Agricultural Research - National Bureau of Animal Genetic Resources
(ICAR-NBAGR) has recognized the Gaddi dog, an indigenous breed from the Himalayas.
● The Gaddi is the fourth indigenous canine breed to be registered after:
● Rajapalayam (Tamil Nadu)
● Chippiparai (Tamil Nadu)
● Mudhol Hound (Karnataka)
About Gaddi dog :
● The Gaddi is spread across the Himalayan range from Jammu and Kashmir to Arunachal
Pradesh.
● It is also known as the Bhote Kukur or Bhotia dog.
● The breed is named after the Gaddi shepherds of Himachal Pradesh and has been used by them
to guard their flocks of sheep and goats from predators.
● Its ability to fight and fend off carnivores such as the Snow Leopard has also earned it the
nickname of the ‘Indian Panther Hound’ or ‘Indian leopard Hound’.

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 Important Monthly Current Affairs Capsule – January 2025

India's SSI Mantra performs two robotic cardiac surgeries via telesurgery over 286 kilometers
● In a groundbreaking achievement, India’s indigenous surgical robotic system, SSI Mantra,
successfully conducted two robotic cardiac surgeries via telesurgery over a distance of 286
kilometers.
● The surgeries were remotely performed at Manipal Hospital in Jaipur by Dr. Sudhir Srivastava,
operating from Gurugram, using the advanced SSI Mantra 3 Surgical Robotic System.
● Telerobotic Procedure :The first procedure, a Telerobotic-assisted Internal Mammary Artery
Harvesting, was successfully completed in just 58 minutes.

Department of Biotechnology Hosts Fifth Webinar in Series on Biomanufacturing and Biofoundry,

Focusing on "Biomanufacturing for Climate-Resilient Agriculture"
● The Department of Biotechnology (DBT), Government of India, conducted the fifth webinar in its
Biofoundry and Bio manufacturing Initiative series on January 13, 2025.
● The session focused on “Bio manufacturing for Climate Resilient Agriculture”, a key area under
the BioE3 Policy (Biotechnology for Economy, Environment & Employment).
● This policy was approved by the Union Cabinet in August 2024 and aims to position India as a
global leader in bio-based innovations while promoting sustainable bio manufacturing across
diverse sectors, including agriculture.

Indian Space Research Organisation to Launch Communication Satellite for US Firm AST SpaceMobile
● The Indian Space Research Organisation (ISRO) will launch a communication satellite for US-
based firm AST SpaceMobile in March 2025.
● The satellite will provide space-based cellular broadband services for smartphones.
● The commercial LVM3-M5 mission will deploy BlueBird Block-2 satellites under a contract with
AST SpaceMobile.
● Leadership Change in ISRO:V Narayanan is set to succeed S Somanath as ISRO Chairman on
January 14, 2025.
About ISRO :
● Founded : 15 August 1969
● Headquarters : Bangalore, Karnataka
Google Unveils Next-Generation Quantum Computing Chip 'Willow
● Google has announced a significant advancement in quantum computing as it unveiled its next-

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 Important Monthly Current Affairs Capsule – January 2025

generation chip called 'Willow'.

What is quantum computing?
● Quantum computing uses quantum mechanics to solve problems beyond the capabilities of
classical computers.
● Classical computers use bits (0 or 1) to process information, while quantum computers use
qubits, which can represent 0, 1, or both simultaneously due to quantum phenomena like
superposition and entanglement.
● Willow is a next-generation quantum computing chip developed by Google.
● The chip is engineered with single and two-qubit gates, qubit reset, and readout to ensure
seamless performance without lag between components, which is crucial for maintaining system
efficiency.
India successfully tests Bhargavastra micro-missile system to counter swarm drone threats

● India successfully tested its first domestically developed micro-missile system, Bhargavastra,
aimed at countering swarm drone threats.
● The testing included two successful firings at the Gopalpur Seaward Firing Ranges.
● The micro-missile system was developed by Economic Explosives Limited.
● The system is designed to counter swarm drones, targeting threats over 2.5 km away.
India Successfully Tests Upgraded Version of Nag Mark 2 Anti-Tank Guided Missile
● The Defence Research and Development Organisation (DRDO) successfully conducted field
evaluation trials of the Nag Mark 2, a third-generation fire-and-forget anti-tank guided missile, at
the Pokhran field range in Rajasthan.
● The missile demonstrated exceptional precision, successfully destroying all designated targets at
both maximum and minimum range limits during the trials.
● The Nag Mark 2 missile was developed by DRDO and is specifically designed to neutralise
modern armoured threats.
Missile Speed and Range:
● Speed: The missile travels at 230 meters per second.
● Range: The missile can strike enemy tanks up to 4 kilometers away within 17-18 seconds. The
missile has a maximum range of 7-10 kilometers and a minimum range of 500 meters.
● Missile Specifications: The Nag Mk-2 weighs approximately 45 kilograms and measures 6 feet 1
inch.

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 Important Monthly Current Affairs Capsule – January 2025

● The missile was developed by DRDO at a cost of ₹300 crore.

About DRDO :
● Established : 1958
● Headquarters : New Delhi, India
● Chairman : Sameer V. Kamat
New Glenn Rocket, Named After NASA Astronaut John Glenn, is a Heavy-Lift Launch Vehicle
● The New Glenn rocket is a heavy-lift launch vehicle which has been named after John Glenn, the
National Aeronautics and Space Administration (NASA) astronaut who was the first American to
circle the Earth in 1962.
● Rocket Dimensions & Features : The two-stage rocket is around 320 feet tall as tall as a 32-story
building and consists of a 7-metre payload fairing.
● First Stage & Reusability : The first stage is reusable and powered by seven BE-4 engines, which
the company claims are the worlds most powerful liquefied natural gas (LNG)-fueled, oxygen-rich
staged combustion engines.
About Blue Origin :
● Founded by Bezos in 2000, Blue Origin has registered only small accomplishments over the
years, especially in comparison to Elon Musk's SpaceX, which was established in 2002.
Pixxel and Digantara Launch Satellites with SpaceX for Earth Monitoring and Space Surveillance
● Pixxel and Digantara launched satellites onboard a SpaceX rocket, marking a new era for private
space firms in India.
● These satellites are aimed at closely monitoring the Earth and objects orbiting it, with a focus on
earth observation and space surveillance.
● Pixxel became the first private company in India with its own constellation of satellites.
● Firefly Satellites:
○ Five-meter resolutionsix times sharper than the typical 30-meter resolution.
○ Equipped with hyperspectral imaging technology that allows observation of Earth in over
150 spectral bands.
○ Firefly satellites can detect subtle changes in chemical compositions, vegetation health,
water quality, and atmospheric conditions, which is valuable for sectors like agriculture,
climate action, and defense.
About Pixxel :
● Founded : February 2019

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 Important Monthly Current Affairs Capsule – January 2025

● Headquarters : Bangalore, Karnataka

● CEO : Awais Ahmed
North Atlantic Treaty Organization Initiates Baltic Sentry to Safeguard Undersea Infrastructure in Baltic
Sea
● North Atlantic Treaty Organization (NATO) has launched a major maritime security operation
called Baltic Sentry in response to a series of suspicious incidents targeting critical undersea
infrastructure in the Baltic Sea.
● The operation was announced by NATO Secretary General Mark Rutte during the Baltic Sea
NATO Allies Summit in Helsinki, where he was joined by Finnish President Alexander Stubb and
Estonian Prime Minister Kristen Michal.
● The Baltic Sea is a semi-enclosed inland sea located in Northern Europe.
● It connects to the Atlantic Ocean through the Danish Straits. Surrounding Countries: Denmark,
Germany, Poland, Lithuania, Latvia, Estonia, Russia, Finland, and Sweden.
About NATO :
● Formation : 4 April 1949
● Headquarters : Brussels, Belgium
● Chair of the NATO Military Committee : Rob Bauer
Eastern India's first astronomical observatory was inaugurated by Satyendra Nath Bose National Centre
for Basic Sciences in Garpanchkot hills of Purulia district of West Bengal
● A new observatory has been set up by the S.N. Bose Centre for Basic Sciences (SNBCBS), an
autonomous institute of the Department of Science and Technology, atop Panchet Hill in the
Garpanchakot area of Purulia district, West Bengal.
● The 1st astronomical observatory of Eastern India and the 6th in the country under the
Department of Science and Technology, Union Ministry of Science and Technology.
● It is the 6th such observatory in India after Ladakh, Nainital (Uttarakhand), Mount Abu
(Rajasthan), Girbani Hills in Pune, and Kavalur in Tamil Nadu.
● This observatory is expected to make significant contributions to scientific observations of
astronomical objects, training students in telescope handling, and facilitating national and
international collaboration in astronomical research.
● The conceptualization, layout, and initiation of the observatory were led by Dr. Ramkrishna Das,
Dr. Soumen Mandal, and Dr. Tapas Baug from the Department of Astrophysics at SNBNCBS.

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 Important Monthly Current Affairs Capsule – January 2025

● Their work began after land acquisition in 2018 and involved site characterization, evaluating
astronomical seeing, and installing a 14-inch telescope for scientific purposes.
About West Bengal:
● Governor: C.V. Ananda Bose
● Chief Minister: Mamata Banerjee
● Capital: Kolkata
● National Parks: Sundarbans National Park, Jaldapara National Park, Buxa Tiger Reserve,
Gorumara National Park, Siliguri National Park.
● Wildlife Sanctuaries: Mahananda Wildlife Sanctuary, Buxa Wildlife Sanctuary, Rajnagar Wildlife
Sanctuary, Singalila Wildlife Sanctuary, Chapramari Wildlife Sanctuary
● Popular Festival: Poila Boishakh (Bengali New Year), Makar Sankranti, Holi, Eid ul-Fitr,
Christmas, Vaisakhi, Rath Yatra, Mahashivaratri
● Poplar Dance: Baul, Chhau, Kathak, Jhumur, Rabindra Nritya, Alkap, Santhal, Dorpon,
Hochongba, Bhaona
The Army is now putting its full weight behind the indigenous Pinaka multi-launch artillery rocket
systems, with orders worth Rs 10,200 crore for its ammunition to be cleared soon, even as India is also
exporting the systems to other countries.
● India is bolstering its Pinaka multi-launch artillery rocket systems with significant orders, totaling
Rs 10,200 crore for ammunition, which are expected to be cleared soon.
● This comes as India is also expanding its export market for these systems, particularly to friendly
countries.
● Pinaka Contracts:
● Two major contracts will soon be inked before March 31, the end of the current fiscal year.
● Rs 5,700 crore for high-explosive pre-fragmented ammunition
● Rs 4,500 crore for area denial munitions
● These orders will support the 10 Pinaka regiments already ordered by the Indian Army,
enhancing the lethality and punch of its artillery capabilities.
About DRDO:
● Headquarters: New Delhi, India
● Formed: 1958
● Motto: "Strength's Origin is in Science”
● Chairman: Dr. Samir V. Kamat

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 Important Monthly Current Affairs Capsule – January 2025

● Responsible Ministry: Rajnath Singh, Minister of Defence

Pralay, India’s first tactical quasi-ballistic missile, to debut at Republic Day Parade
● India’s 1st tactical quasi-ballistic missile, Pralay, is set to debut at the 26 January, 2025 Republic
Day parade.
● As part of the Indian Army’s power projection, the missile and its launcher will be showcased.
● However, it remains unclear whether the missile, which completed trials in 2022, has been formally
inducted into the armed forces.
● Pralay is an indigenous short-range surface-to-surface ballistic missile (SRBM) with a range
of 150–500 km.

Solar Group Tests India’s First Indigenous Micro-Missile Drone System ‘Bhargavastra’
● India has successfully tested its 1st indigenously developed micro-missile system, Bhargavastra,
designed to counter the growing threat of swarm drones.
● The tests were conducted at the Gopalpur Seaward Firing Ranges on January 12 and 13, where
the system successfully hit designated virtual targets over 5 kilometres away, offering a cost-
effective and innovative solution to neutralize large-scale drone attacks.
● Developed by Economic Explosives Ltd (EEL), a subsidiary of the Solar Group, Bhargavastra is
equipped with advanced capabilities, including detecting small incoming drones at a range of
over 6 kilometres.
Telangana signs Memorandum of Understanding with Skyroot for integrated, private rocket
manufacturing, integration and testing facility
● Skyroot Aerospace has signed a Memorandum of Understanding (MoU) with the Telangana
government to set up an integrated private rocket manufacturing, integration, and testing facility.
● The new project will involve an investment of around Rs 500 crore, making it one of the largest
private-sector rocket manufacturing facilities in India.
● The MoU was signed at the World Economic Forum summit in Davos, overseen by Chief Minister
A. Revanth Reddy and IT & Industries Minister D. Sridhar Babu.
About Skyroot Aerospace:
● Headquarters: Hyderabad, Telangana, India
● Co-founder & CEO: Pawan Kumar Chandana
● Founded: 2018
IIT-Madras’ ePlane Becomes First Firm to Receive Type Certification Application Acceptance from

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 Important Monthly Current Affairs Capsule – January 2025

Directorate General of Civil Aviation

● The ePlane Company, incubated at IIT Madras, has become the first private Indian firm to receive
formal acceptance from the Directorate General of Civil Aviation (DGCA) for the Type
Certification of its electric Vertical Take-Off and Landing (eVTOL) aircraft, the e200X.
● This milestone marks India’s entry into eVTOL certification and represents a significant step
toward sustainable air mobility in the country.
● The DGCA’s acceptance of the e200X sets the stage for India to lead in advanced air mobility, with
a focus on creating regulatory frameworks that will facilitate scalable eVTOL operations.
India to Launch First Human Underwater Submersible Under ‘Deep Ocean Mission’ This Year, Targets
6,000-Metre Depth by 2026
● India is set to launch its 1st human underwater submersible (Deep-Sea Manned Vehicle) this year,
marking a significant milestone in the country’s scientific capabilities and the blue economy.
● This groundbreaking initiative positions India among a select group of nations with
the technological prowess to undertake such an ambitious endeavor, as highlighted by Jitendra
Singh, Union Minister of State for Science and Technology, during the second meeting of
the Mission Steering Committee on the Deep Ocean Mission.
About Ministry of Science & Technology:
● State Minister: Jitendra Singh
● Formed: 1971
● Head Quarters: New Delhi
Indian Space Research Organisation’s 100th Launch: Advanced Navigation Satellite with Indigenous
Atomic Clocks to Boost Indian Navigation System
● The Indian Space Research Organisation (ISRO), in its 100th launch, is set to send a 2,250-kg
navigation satellite, NVS-02, onboard GSLV-F15 from Sriharikota on January 29 at 06.23 am.
● This satellite is the 2nd of the 5 second-generation satellites developed to replace existing
satellites in the Indian Regional Navigation Satellite System (IRNSS), also known as NavIC
(Navigation with Indian Constellation).
● The new generation satellites have an extended lifespan of 12 years and feature indigenously
developed atomic clocks that are more accurate.
● The upcoming launch will be the 17th flight of the GSLV vehicle and the 11th using an indigenously
developed cryogenic engine.
CURRENT AFFAIRS: APPS & PORTALS

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 Important Monthly Current Affairs Capsule – January 2025

Government acts on spoofed calls based on reporting on Sanchar Saathi mobile App
● Fraudsters have been exploiting international spoofed calls to deceive Indian citizens by
using Indian mobile numbers (+91-xxxxx) to carry out cybercrimes and financial frauds.
● While these calls appeared to originate from India, they were actually made from abroad by
manipulating the Calling Line Identity (CLI), often known as the phone number.
● DoT launched an indigenously developed system in collaboration with all Telecom Service
Providers (TSPs) to block spoofed calls.
● This system has been highly effective, blocking 90% of spoofed international calls,
approximately 1.35 crore calls within just 24 hours.
Sanchar Saathi App:
● Public Participation: Citizens are actively contributing by exercising caution with unfamiliar
international calls, especially those claiming to be from government authorities.
● Sanchar Saathi App: A new mobile app has been launched to allow citizens to easily
report fraudulent calls directly from their mobile phone call logs.
● The Sanchar Saathi portal (sancharsaathi.gov.in) also provides an accessible platform for
reporting such incidents.
About Department of Telecommunications (DoT):
● Founded: 1985
● Headquarters: New Delhi, India
● Minister: Jyotiraditya M. Scindia(Cabinet Minister for Communications)
Haryana Women and Child Development Minister launches app to track delivery of schemes benefits to
beneficiaries
● On National Girl Child Day 2025, Haryana Women and Child Development Minister Shruti
Choudhry launched the ‘Samman Sanjeevani’ app under the ‘Mahila Evam Kishori Samman
Yojana’ in Chandigarh.
● The app aims to ensure timely delivery of benefits under the scheme for BPL women and girls
aged 10–45 years by tracking facilities like the distribution of sanitary napkins through Anganwadi
centres and schools.
● It will also collect beneficiary data and provide monthly updates.
● The Minister highlighted that the Women and Child Development Department is celebrating
the 10th anniversary of the ‘Beti Bachao Beti Padhao’ scheme, with various programmes planned
to promote women’s empowerment and raise awareness about the importance of daughters.

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 Important Monthly Current Affairs Capsule – January 2025

SPORTS NEWS
67th National Shooting Championship: Adarsh Singh Secures Gold in Standard Pistol
● Adarsh Singh was in top form, clinching the men’s 25-metre standard pistol gold with a seven-
point margin over Udhayveer Sidhu, Omkar Singh and Olympian Gurpreet Singh in the 67th
National shooting championship at the Dr. Karni Singh Range, Tughlakabad.
● Men’s 25m Standard Pistol:
o Gold: Adarsh Singh
▪ Won with a seven-point margin, showcasing his dominance.
o Silver: Udhayveer Sidhu
o Bronze: Omkar Singh
▪ Both Udhayveer and Omkar edged out Olympian Gurpreet Singh for podium
finishes based on a better count of inner-10s.
Kiran Jadhav Shines at the 15th Lakshya Cup
● Kiran Jadhav of the Navy emerged victorious in the 10m air rifle event at the 15th Lakshya Cup
held in Mumbai, securing his first gold medal after consistently making finals since 2018.
● Event Highlights
● Gold Winner:
o Kiran Jadhav clinched gold with a score of 251.7 points, marking a major milestone in his
shooting career.
Luke Littler Becomes Youngest World Darts Champion
● Luke Littler, 17, became the youngest-ever World Darts Champion after defeating Michael van
Gerwen 7-3 in the final at Alexandra Palace, London.
● Littler’s win at the age of 17 makes him the youngest player to ever claim the prestigious title.

Kaamya Karthikeyan: The Youngest Female to Scale the Seven Summits

● At just 17 years old, Kaamya Karthikeyan, a student from Navy Children School in Mumbai,
achieved the remarkable feat of becoming the youngest female in the world to conquer the
Seven Summits, a challenge involving scaling the highest peaks on all seven continents.
● Details of the Seven Summits
● Africa: Mount Kilimanjaro (Tanzania)
● Europe: Mount Elbrus (Russia)
● Australia: Mount Kosciuszko (Australia)

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● South America: Mount Aconcagua (Argentina)

● North America: Mount Denali (USA)
● Asia: Mount Everest (Nepal)
● Antarctica: Mount Vinson (Antarctica)

Controversy Surrounds Carlsen and nepomniachtchi's Shared World Blitz Championship Title
● Magnus Carlsen and Ian Nepomniachtchi's decision to share the World Blitz Championship title
at the FIDE Rapid and Blitz Championship in New York has sparked widespread debate and
criticism in the chess community.
● A leaked video further fueled the controversy, raising concerns over possible match-fixing and
manipulation of tournament rules.
Hemanth Muddappa: India's "Drag King" Secures Triple Crown
● Hemanth Muddappa, celebrated as the “Drag King” of Indian motorsport, etched his name in
history by achieving a triple crown during the final round of the MMSC FMSCI Indian National
Motorcycle Drag Racing Championship at the Madras International Circuit (MIC).
● With this feat, he reached a total of 15 National titles, becoming India’s most decorated
motorsport athlete.

R Vaishali Clinches Bronze at World Blitz Championship, Capping Off a Stellar Year for Indian Chess
● R Vaishali, a rising star in Indian chess, ended 2024 with an outstanding achievement by winning
a bronze medal at the World Blitz Championship in New York.
● Her performance at the prestigious event solidified her positio among the world's top chess
players.
● The championship followed a Swiss system with the top eight players advancing to the knockout
phase.

Sabalenka Triumphs in Brisbane, Prepares for Australian Open Defense

● World No. 1 Aryna Sabalenka defeated Russian qualifier Polina Kudermetova in a hard-fought
final, securing victory with a score of 4-6, 6-3, 6-2.
● The win sets a confident tone for Sabalenka ahead of her Australian Open title defense.

ICC Explores Two-Tier Test Cricket System with Big Three Collaboration

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 Important Monthly Current Affairs Capsule – January 2025

● The International Cricket Council (ICC), in collaboration with the cricket boards of India (BCCI),
England (ECB), and Australia (CA), is evaluating the introduction of a two-tier Test cricket
system.
● Key figures Jay Shah, Mike Baird, and Richard Thompson will participate in discussions this
month on the feasibility of the system.

Kho Kho World Cup 2025: First-Ever International Tournament

● The Kho Kho Federation of India (KKFI) has unveiled the official trophies for the first-ever Kho
Kho World Cup, set to take place.
● Tournament Details:
● Location: Indira Gandhi Indoor Stadium, New Delhi.
● Trophies:
o Blue Trophy for the men's championship.
o Green Trophy for the women’s event.
● Mascots: ‘Tejas’ (a gazelle) for the men’s event and ‘Tara’ (another gazelle) for the women’s
event.
Younis Khan Appointed Mentor of Afghanistan Men's Cricket Team for ICC Champions Trophy 2025
● Former Pakistan cricketer Younis Khan has been named the mentor for the Afghanistan men's
cricket team for the upcoming ICC Champions Trophy 2025, scheduled to take place in Pakistan.
● According to Naseeb Khan, President of the Afghanistan Cricket Board (ACB):
● The decision to appoint Younis was influenced by his experience and familiarity with local
conditions in Pakistan, the host nation.

Martin Guptill Announces Retirement from International Cricket

● Martin Guptill, one of New Zealand's most accomplished cricketers, has officially retired from
international cricket.
● The 38-year-old, known for his explosive batting and memorable contributions in white-ball
formats, will now focus on playing in T20 leagues worldwide.

Hockey India League (HIL) 2024-25 Increases Prize Money Substantially

● Hockey India announced a significant increase in prize money for the ongoing Hockey India
League (HIL), marking a new milestone for the tournament.

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 Important Monthly Current Affairs Capsule – January 2025

● Men’s Competition Prize Structure

● Winner: ₹3 crore
● Runner-Up: ₹2 crore
● Third Place: ₹1 crore
Pratik Waikar: Leading India to the Inaugural Kho Kho World Cup
● Pratik Waikar, a 32-year-old kho kho player from Pune, is set to captain the Indian men's team in
the first-ever Kho Kho World Cup, marking a significant milestone in his journey with this
indigenous sport.
● The Inaugural Kho Kho World Cup
● Dates: January 13–19, 2025.
● Venue: Indira Gandhi Indoor Stadium, New Delhi.
● Opening Match: India vs. Nepal.
o Pakistan will not participate due to visa issues.

Mo Farah Named International Event Ambassador for Tata Mumbai Marathon 2025
● Legendary athlete Mo Farah, a multiple Olympic and World Champion, has been announced as
the International Event Ambassador for the 20th edition of the Tata Mumbai Marathon, set to take
place on January 19, 2025.
● Participation: Record-breaking 60,000 runners will compete.
● Starting Point: The iconic Chhatrapati Shivaji Maharaj Terminus.

England Hockey Introduces Policy Restricting Transgender Women from Female Category
● England Hockey announced a significant policy change, outlining that transgender women will
not be allowed to compete in the female category starting next season.
● This move is part of a broader strategy to address transgender and non-binary participation in the
sport.
● Introduction of Two Categories:
o Female Category: Restricted to cisgender women.
o Open Category: Inclusive of all participants, including transgender and non-binary players.
The 8th Elite Men's National Boxing Championship with a commanding performance in the finals held at
Bareilly, Uttar Pradesh

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 Important Monthly Current Affairs Capsule – January 2025

● The Services Sports Control Board (SSCB) retained their title at the 8th Elite Men's National
Boxing Championship, claiming their third consecutive championship victory.
● The finals were held in Bareilly, Uttar Pradesh, hosted by the Boxing Federation of India (BFI) in
collaboration with the Uttar Pradesh Boxing Association.
● Distinguished Guests: The event was attended by Ajay Singh (BFI President), Neeraj Singh
(Uttar Pradesh Boxing Association chairman), Olympian Vijender Kumar, World Champion
Saweety Boora, and Mayor Umesh Gautam.
Key Victories for SSCB:
o Sachin Siwach: Gold in the Lightweight (55-60kg) category.
o Lakshya Chahar: Gold in the Light Heavyweight (75-80kg) division.
o Jadumani Singh: Gold in the Flyweight (47-50kg) category.
o Hitesh: Gold in the Light Middleweight (65-70kg) division.
o Vishal: Gold in the Heavyweight (85-90kg) class.
Sitanshu Kotak added as batting coach to India team ahead of England white ball tour
● Former Saurashtra cricketer Sitanshu Kotak has been appointed as the batting coach for the
Indian team for the upcoming India-England limited-overs series at home.
● India will play 5 T20Is and 3 ODIs starting with a T20I at Eden Gardens, Kolkata, on January 22.
● The team will assemble in Kolkata on January 18 for a three-day camp.
ICC Men's Player of the Month for December 2024 announced
● Jasprit Bumrah has been honored with the ICC Men's Player of the Month award for his stellar
performances during India's tour of Australia in December 2024.
● He edged out competitors Pat Cummins and Dane Paterson to claim the award.
● Bumrah played a pivotal role in India's bowling attack across three Test matches, claiming 22
wickets at an impressive average of 14.22.
● His remarkable spells earned him the Player of the Series title.
Novak Djokovic Breaks Record for Most Grand Slam Matches Played
● Novak Djokovic cemented his place in tennis history by playing his 430th Grand Slam match,
surpassing Roger Federer’s previous record of 429 matches.
● Djokovic achieved this milestone during the second round of the Australian Open, where he
defeated Portuguese qualifier Jaime Faria in four sets.
● New Record: Most Grand Slam matches played—430.
● Previous Record: Roger Federer with 429 matches.

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 Important Monthly Current Affairs Capsule – January 2025

India Clinches Double Gold at Inaugural Kho Kho World Cup 2025
● India made history by winning both the men’s and women’s titles at the first-ever Kho Kho World
Cup 2025, held at the Indira Gandhi Indoor Stadium.
● The Indian teams triumphed over Nepal with commanding victories: the men’s team won 54-36,
and the women’s team dominated 78-40.
● Captain Priyanka Ingle led the Indian women’s team with exceptional strategy and
synchronization.
Wankhede Stadium Celebrates 50 Glorious Years of Indian Cricket
● Mumbai’s iconic Wankhede Stadium marked its 50th anniversary with a star-studded celebration,
featuring Indian cricket legends like Rohit Sharma, Sachin Tendulkar, and Sunil Gavaskar.
● The stadium, which has witnessed some of the most memorable moments in Indian cricket
history, was honored for its contribution to the game.
● Recent Success: In 2024, Rohit Sharma returned to celebrate another ICC World Cup victory in
front of a packed Wankhede crowd after India’s T20 triumph in Barbados.
India Open Super 750 Badminton Tournament 2025: Axelsen and An Se-young Claim Singles Titles
● At the India Open Super 750 badminton tournament held in New Delhi, Viktor Axelsen and An Se-
young clinched the men’s and women’s singles titles.
Men’s Singles Final: Viktor Axelsen’s Dominance
● Winner: Viktor Axelsen (Denmark)
● Score: 21-16, 21-8 (41 minutes)
● Opponent: Lee Cheuk Yiu (Hong Kong)
● Axelsen secured his third India Open title (previously winning in 2017 and 2019).

Jannik Sinner and Iga Swiatek Named ITF 2024 World Champions
● Jannik Sinner and Iga Swiatek have been awarded the prestigious International Tennis
Federation’s (ITF) 2024 World Champion Awards.
Iga Swiatek’s Achievements
● Women’s Singles Award: Swiatek won the award, narrowly edging out Aryna Sabalenka.
● Grand Slam Success: Swiatek claimed the French Open and four WTA 1000 titles.
● Olympic Glory: She secured a bronze medal at the Paris Olympic Games.
● Billie Jean King Cup: Swiatek helped Poland reach the semifinals of the prestigious competition.
India Set to Host FIDE Chess World Cup 2025

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 Important Monthly Current Affairs Capsule – January 2025

● India to Host FIDE Chess World Cup 2025: The tournament, a major chess event, is scheduled
to take place from October 31 to November 27, 2025.
● Importance of the Tournament:
o The top three players from the World Cup will secure spots in the prestigious Candidates
Chess Tournament, where they will compete for the opportunity to challenge World
Champion D. Gukesh.
o This tournament serves as a crucial qualifier for the Candidates Tournament, which
determines the next challenger for the World Chess Championship.
India Clinches PD Champions Trophy 2025 with Dominant Win Over England
● The Indian Physical Disability (PD) Cricket Team achieved a landmark victory by winning the PD
Champions Trophy 2025, defeating England by 79 runs in the final.
● The match was held at the FTZ Cricket Grounds, Katunayake, near Colombo.
Arshdeep Singh Becomes India’s Leading Wicket-Taker in T20Is
● Arshdeep Singh became India’s highest wicket-taker in T20 internationals, surpassing Yuzvendra
Chahal’s record of 96 wickets.
● The left-arm pacer reached this milestone in his 61st T20I match during the first T20I against
England in Kolkata.
● He dismissed openers Phil Salt and Ben Duckett, taking his tally to 97 wickets.
India Advances Its Bid for 2036 Olympics with Groundbreaking Conference in Gujarat
● India’s bid to host the 2036 Olympics took a major leap forward with a four-day Olympic
Research Conference in Gujarat.
● The conference, organized by the Indian Olympic Association (IOA) and supported by the Union
Ministry of Youth Affairs and Sports, focuses on developing sustainable sports infrastructure and
strategic plans to ensure India’s readiness for hosting the prestigious global event.
Michael Clarke was Inducted into the Australian Cricket Hall of Fame
● Michael Clarke, former Australian cricket captain, has been inducted into the Australian Cricket
Hall of Fame, becoming its 64th member.
● This honor highlights his remarkable contributions to Australian cricket through record-breaking
performances and dynamic leadership.
Bengaluru Open 2025 Upgraded to ATP 125 Category
● Bengaluru Open 2025, an important event on the ATP Challenger Tour, has been upgraded to
the ATP 125 category.

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 Important Monthly Current Affairs Capsule – January 2025

● Prize Money: Increased to USD 200,000, with the winner earning USD 28,400 and 125 ATP
points.
● The Karnataka State Lawn Tennis Association (KSLTA) in Bengaluru, Karnataka hosts the
tournament.
Jasprit Bumrah: Winning ICC Men’s Test Cricketer of the Year
● Jasprit Bumrah had an exceptional year in 2024, cementing his position as one of the greatest
fast bowlers in Test cricket.
● After making a remarkable comeback from a back injury in late 2023, Bumrah’s performances
were pivotal in India’s success across both home and away series.
● His consistency, ability to take wickets, and record-breaking feats helped India maintain its
challenge for the ICC World Test Championship, earning him the prestigious ICC Men’s Test
Cricketer of the Year award for 2024.
Smriti Mandhana: ICC Women’s ODI Cricketer of the Year 2024
● Smriti Mandhana had an extraordinary year in One Day International (ODI) cricket in 2024,
solidifying her position as one of the greatest players in women’s cricket.
● Renowned for her graceful left-handed batting and ability to perform under pressure, Mandhana’s
consistency and dominance played a pivotal role in India’s success in multiple series.
● Her achievements earned her the prestigious title of ICC Women’s ODI Cricketer of the Year
2024.
Azmatullah Omarzai: ICC Men’s ODI Cricketer of the Year 2024
● Azmatullah Omarzai, Afghanistan’s dynamic all-rounder, had an outstanding 2024 in One Day
International (ODI) cricket, further establishing himself as one of the top performers in the game.
● With impressive right-arm pace bowling and versatile batting, Omarzai played a pivotal role
in Afghanistan’s success, contributing significantly to four ODI series victories.
● His remarkable performances earned him the prestigious title of ICC Men’s ODI Cricketer of the
Year 2024, reinforcing his growing impact in world cricket.
About the International Cricket Council (ICC):
● Headquarters: Dubai, UAE.
● Established: 1909.
● Chairman :Jay Shah
● Current CEO (2025): Geoff Allardice (Australia).
Indian Grandmaster Iniyan Panneerselvam Wins 9th Johor International Open Chess Tournament

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 Important Monthly Current Affairs Capsule – January 2025

● Iniyan Panneerselvam, the talented 22-year-old Grandmaster from Erode, Tamil Nadu, delivered
a remarkable performance to claim victory at the 9th Johor International Open Chess
Tournament held in Malaysia.
● Iniyan dominated the event, finishing 1.5 points ahead of his nearest competitor and securing the
title before the final round.
● This victory, combined with his earlier success at the Chennai Open in January 2025, further
solidifies his position as one of India’s rising chess stars.
About FIDE:
● Full Form: Fédération Internationale des Échecs (International Chess Federation).
● Headquarters: Lausanne, Switzerland.
● President (2025): Arkady Dvorkovich.
Jay Shah Joins New MCC Advisory Board to Shape the Future of Global Cricket
● In a significant development for global cricket, Jay Shah, the current ICC Chair and
former Secretary of the BCCI, has been named one of the 13 founding members of the newly
formed World Cricket Connects advisory board.
● This move marks a major shift in the governance of cricket, as the Marylebone Cricket Club
(MCC) introduces a more dynamic and inclusive forum to guide the future of the game.
● MCC’s Strategic Shift and the Formation of the Advisory Board
● The World Cricket Connects advisory board, launched by the MCC, replaces the club’s
previous World Cricket Committee.
● It serves as a platform to discuss and address the most pressing issues in the global cricket
landscape.
● Chairman: The advisory board will be led by Kumar Sangakkara, former MCC president and one
of cricket’s most respected figures, known for his leadership and vast experience in the game.
New Zealand’s Melie Kerr: Winner of the Rachael Heyhoe Flint Trophy
● Melie Kerr, the dynamic all-rounder from New Zealand, emerged as the standout performer in
women’s cricket, securing the Rachael Heyhoe Flint Trophy (ICC Women’s Player of the Year
2024).
● Kerr’s exceptional all-round performance, including her explosive batting and lethal leg-spin
bowling, was pivotal in New Zealand’s maiden victory in the ICC Women’s T20 World Cup 2024.
● Kerr became the first New Zealander to win the Rachael Heyhoe Flint Trophy and the ICC
Women’s Cricketer of the Year Award.

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 Important Monthly Current Affairs Capsule – January 2025

Jannik Sinner Clinches Third Grand Slam Title at Australian Open 2025
● Jannik Sinner has successfully defended his Australian Open title, defeating Alexander Zverev 6-
3, 7-6(4), 6-3 in the men’s singles final.
● With this victory, Sinner not only retained his crown but also made history by becoming the
first Italian player to win three Grand Slam titles, surpassing the legendary Nicola Pietrangeli,
who had secured back-to-back wins at the French Open in 1959-60.
● Jannik Sinner defeated Alexander Zverev in straight sets, securing his third Grand Slam title and
his second Australian Open win in as many years..
Odisha Warriors Clinch Historic Inaugural Women’s Hockey India League Title
● Odisha Warriors secured the first-ever Women’s Hockey India League (HIL) title with a 2-1
victory over Soorma Hockey Club in the final.
● The match took place at the Marang Gomke Jaipal Singh Stadium, Ranchi.
● Janneke Schopman, the Warriors’ coach, redeemed herself after a past defeat with India against
Japan.
Notable Performances & Awards:
● Player of the Tournament: Jyoti (Soorma HC)
● Best Goalkeeper: Savita (Soorma HC)
● Upcoming Player Award: Sonam (Soorma HC)
● Top Scorers: Yibbi Jansen (Odisha Warriors) & Charlotte Englebert (Soorma HC)
● Odisha Warriors become the first champions of the Women’s HIL, making history.
Ladakh Tops Khelo India Winter Games 2025 in Leh
● The first phase of the Khelo India Winter Games (KIWG) 2025 concluded with Ladakh emerging
as the top performer.
● Held in Leh, the games featured thrilling competitions, including an intense men’s ice hockey final
where the Indian Army successfully retained its title.
● In addition to impressive performances in ice hockey, notable achievements were seen
in skating and women’s ice hockey, with strong showings from Ladakh, Tamil Nadu,
and Maharashtra.
● The second phase of KIWG 2025 will be held in Gulmarg, Jammu & Kashmir, from February 22
to 25. The games are expected to feature more top-level winter sports competitions.
Australia Clinches ICC Women’s Championship Trophy for Third Consecutive Time

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 Important Monthly Current Affairs Capsule – January 2025

● Australia has reaffirmed its supremacy in women’s cricket by winning the ICC Women’s
Championship for the third consecutive time.
● The team was awarded the prestigious ICC Women’s Championship Trophy in Melbourne after
their victory in the 10-team competition, which serves as a crucial pathway to the ICC Women’s
Cricket World Cup 2025.
● Captain Alyssa Healy received the trophy from Mike Baird, Cricket Australia Chair and ICC
Director.
Logo and Mascot Unveiled for 23rd National Para Athletics Championship 2025
● The official logo and mascot for the 23rd National Para Athletics Championship 2025 were
unveiled.
● Set to be held in Tamil Nadu, this event continues India’s commitment to promoting para sports
and fostering inclusivity.
● The mascot represents determination and resilience, reflecting the spirit of para-athletes who
push boundaries despite challenges.
● The logo incorporates elements that symbolize the dynamic nature of para-athletics and the
championship's values of empowerment and equality.
Dinesh Karthik Becomes India's Top Wicket-Keeper Run-Scorer in T20s
● In a remarkable feat for Indian cricket, Dinesh Karthik has surpassed MS Dhoni to become the
highest run-scorer among Indian wicket-keepers in T20 cricket.
● This achievement came after Karthik scored a crucial 21-run knock, bringing his total T20 runs to
7,451 runs in 361 innings (409 matches).
Steve Smith Achieves Monumental Milestone: 10,000 Runs in Test Cricket
● Australian batter Steve Smith reached a significant milestone during the first Test against Sri
Lanka in Galle.
● Smith became the 15th player in history and the fourth Australian to score 10,000 runs in Test
cricket.
● This achievement secures his position among the all-time greats of the game.
● The Road to 10,000 Runs: Smith’s journey to 10,000 Test runs had its dramatic moments. In his
previous Test match against India at the Sydney Cricket Ground (SCG), he fell just short,
dismissed on 9,999 runs.

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 Important Monthly Current Affairs Capsule – January 2025

● In Galle, Smith crossed the landmark, becoming the third-fastest player to reach 10,000 runs in
terms of innings played. He achieved this feat in his 205th innings, following Brian Lara, Sachin
Tendulkar, and Kumar Sangakkara.
Key Notes:
● Steve Smith is the 15th player to join the 10,000+ runs club.
● Among active players, Joe Root is the only one with more Test runs than Smith.
● Kumar Sangakkara holds the highest average (57.40) among those with 10,000+ Test runs.
● Smith is the sixth player to reach this milestone while captaining his team.
Manush Shah and Diya Chitale Crowned National Table Tennis Champions
● The 2025 Senior National Table Tennis Championships concluded, at the Pandit Dindayal
Upadhyay Indoor Stadium in Surat.
● The competition saw intense action, with Manush Shah and Diya Chitale claiming the men’s and
women’s singles titles, respectively.

OBITUARIES
Retired IPS Acharya Kishore Kunal, Founding Secretary of Patna Mahavir Mandir, Passed Away
● Acharya Kishore Kunal, a retired IPS officer, passed away due to cardiac arrest in Patna.
● Kunal was an IPS officer of the 1972 batch.
● He served as the Chief of the Bihar State Board of Religious Trust (BSBRT), overseeing religious
trust affairs in Bihar.

Charles F. Dolan, Founder of Home Box Office Inc and Cablevision, Passed Away
● Charles F. Dolan, founder of some of the most prominent U.S. media companies, passed away
at the age of 98.
● Dolan was instrumental in shaping modern cable broadcasting and media.
● 1972: Launched Home Box Office (HBO), which became a leading premium cable television
network.

Jimmy Carter, 39th US President and Honoree of Haryana Village "Carterpuri," Passed Away
● Jimmy Carter, the 39th President of the United States, passed away peacefully at the age of 100
at his home in Plains, Georgia.
● Carter was the longest-lived president in U.S. history.

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 Important Monthly Current Affairs Capsule – January 2025

● He was the third American president to visit India, during which a village in Haryana was named
Carterpuri in his honor.
● Jimmy Carter served as the 39th President of the U.S. from 1977 to 1981.
Agnes Keleti, the Oldest Living Olympic Champion, Passed Away
● Agnes Keleti, the world's oldest Olympic champion and Holocaust survivor, has passed away at
the age of 103.
● Keleti's life story, including surviving the Holocaust and Olympic glory, reads like a gripping
Hollywood film script, with her feisty spirit never breaking in the face of adversity.
● As Hungary's most successful gymnast, she won ten Olympic medals, all of them after reaching
the age of 30 against much younger competitors.

Osamu Suzuki, the Pioneer of Maruti and Catalyst for India's Automobile Industry, Passed Away
● Osamu Suzuki, the man behind India’s automobile revolution and former chairman of Suzuki
Motor Corporation, passed away at the age of 94.
● Osamu Suzuki is credited with igniting India's automobile industry through his leadership and
vision.
● Under his guidance, Suzuki Motor Corporation became the largest automaker in India, with a
market share of around 40% in passenger vehicle retail sales as of 2024.
Renowned Botanist K S Manilal, Known for Bringing ‘Hortus Malabaricus’ to the Modern World, Passed
Away
● Dr. K.S. Manilal, an esteemed botanist, passed away on January 1, 2025, at the age of 86 after
battling illness.
● Dr. Manilal is renowned for translating and annotating Hortus Malabaricus, a 17th-century
botanical manuscript.
● His work made this ancient document accessible to modern researchers and the public, reviving
interest in Kerala’s medicinal plants.

Former Greek Prime Minister and Socialist Leader Costas Simitis Passed Away
● Former Greek Prime Minister Costas Simitis, who ushered the country into the European Union’s
single currency in 2001, passed away at the age of 88.
● The government proclaimed four days of mourning and said his funeral will be at the state’s
expense.

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 Important Monthly Current Affairs Capsule – January 2025

● Born on June 23, 1936, was involved in the left-leaning resistance during the German
occupation, and his mother, Fani, was an active feminist.
● Co-founder of the Socialist PASOK party in 1974.

Veteran Novelist Na. D’Souza from Malnad Region Passed Away

● Na. D’Souza, a well-known novelist from the Malnad region, passed away at the age of 87 in
Mangaluru due to old age-related health issues.
● He was born in 1937 in Sagar, Shivamogga district, and spent most of his life in this region.
● D’Souza’s literary career spanned over 60 years, during which he penned over 40 novels, along
with short stories, plays, and stories for children.
Veteran sports journalist Krishan Datta Passed away
● Krishan Datta, an eminent sports journalist, passed away at the age of 93 on Saturday morning
at his South Delhi residence.
● Datta served as the Sports Editor of The Times of India and was instrumental in shaping sports
journalism in India.
● He was honored by the Delhi Sports Journalist Association and the Delhi & District Cricket
Association (DDCA) for his significant contributions to sports journalism.

Dr. Rajagopala Chidambaram, key figure behind India's nuclear program, passed away
● Dr Rajagopala Chidambaram, who was the Chairman of the Atomic Energy Commission and the
Principal Scientific Adviser to the Government of India, when India did the crucial Pokhran-II
nuclear tests, passed away.
● Pokhran Nuclear Tests:Pokhran-I (1974): Chidambaram played a significant role in India’s first
nuclear test in 1974, earning the Padma Shri award in 1975 for his contributions.

Amit Banerji, Co-Founder of Workspace Operator Table Space, Passed away

● Amit Banerji, co-founder of managed workspace operator ‘Table Space’, passed away at the age
of 44.
● Before founding Table Space in 2017 with Karan Chopra, Banerji worked at Accenture for over
13 years and served as the Managing Director of Corporate Real Estate in India.
Veteran sports journalist T.R. Ranganathan of The Hindu passed away
● Senior sports journalist T.R. Ranganathan of The Hindu passed away at the age of 91.

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 Important Monthly Current Affairs Capsule – January 2025

● Ranganathan served in the Sports section of The Hindu for over 32 years, retiring as Assistant
Editor on September 1, 1995.
● He was fondly called "TRR" by colleagues and peers, leaving behind a significant legacy in
sports journalism.
Veteran Filmmaker and Journalist Pritish Nandy Passed away
● Indian poet, journalist, film producer and former parliamentarian Pritish Nandy has passed away
at the age of 73.
● Nandy established his production company, Pritish Nandy Communications (PNC), in the 1990s.
● Nandy hosted the DD (Doordarshan) show The Pritish Nandy Show.
Renowned National Award-Winning Singer P. Jayachandran Passed away
● Renowned playback singer P Jayachandran, affectionately called 'Bhava Gayakan' passed away
at the age of 81.
● Jayachandran was born on March 3, 1944, in Ernakulam, Kerala.
● He recorded over 16,000 songs in multiple languages: Malayalam, Tamil, Telugu, Kannada, and
Hindi.
● He is widely recognized for his contribution to Indian music, particularly as a playback singer.
1964 Ballon d'Or Winner & Manchester United's 3rd Highest Goal Scorer Denis Law Dies At 84
● The passing of Denis Law, at the age of 84, has left the football world in mourning.
● A legend for both Manchester United and Scotland, Law’s death marks the loss of one of the
game's greatest players, particularly significant for Manchester United, as he was the last
surviving member of the club's famed “Holy Trinity”, alongside George Best and Sir Bobby
Charlton.
● Ballon d'Or: In 1964, he won the prestigious Ballon d'Or.
'Twin Peaks' creator and filmmaker David Lynch dies at 78
● David Lynch, the iconic director renowned for his surreal and haunting vision of America, has
passed away.
● Lynch was a central figure in shaping counterculture cinema, especially in the 1980s and 1990s,
with films such as Blue Velvet, Wild at Heart, and Mulholland Drive.
● His influence extended to television, where he co-created the groundbreaking series Twin Peaks
alongside Mark Frost.
Wing Commander (Retired) Dr K Ramchand passes away at 82
● Wing Commander (retired) Dr K Ramchand, aged 82, the Founder Director of Centre for Airborne

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 Important Monthly Current Affairs Capsule – January 2025

Systems (CABS), DRDO, Bengaluru, passed away.

● Dr Ramchand was a pioneering figure in Indian aerospace engineering, leading the indigenous
design and development of the AEW&C aircraft during his tenure at DRDO.
● The AEW&C aircraft, developed under his leadership, was inducted into the Indian Air Force
(IAF) in 2017.
● He authored the book ‘The Incredible Journey of the Indian AWACS’, which was released
during Aero India 2019.
India’s preeminent cardiac surgeon K.M. Cherian passes away
● KM Cherian, a world-renowned cardiologist with over 50 years of experience, has passed away
in Bengaluru at the age of 82.
● His death comes shortly after he launched his biography in Kerala.
● The biography of Dr. K. M. Cherian, is titled Hand of God.
● Priya M Menon wrote the book, and Times Group Books published it.
● Cherian was a pioneer in cardiac surgery, and one of his most notable achievements was
performing India’s first heart-lung transplant on a patient.
Latika Katt: Prominent Indian Sculptor Passes Away At 76
● Renowned sculptor Latika Katt passed away on January 25 in Jaipur at the age of 76.
● Known for her exceptional skills in stone carving, metal casting, and bronze sculpting, Katt’s work
was deeply inspired by human anatomy and nature.
● She had earned recognition for her detailed and emotional sculptures, with her works showcased
at prestigious venues such as the Paris Biennale, Museum of Modern Art, and National Gallery of
Modern Art in Delhi.

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 Important Monthly Current Affairs Capsule – February 2025

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 Important Monthly Current Affairs Capsule – February 2025

S. No Topics Page No

1. IMPORTANT DAYS 03

2. BANKING AND ECONOMY 07

3. NATIONAL NEWS 65

4. INTERNATIONAL NEWS 89

5. STATE NEWS 98

6. BUSINESS NEWS 117

7. AWARDS AND HONOURS 118

8. APPOINTMENTS & RESIGNATIONS 128

9. MOUS AND AGREEMENT 143

10. RANKING AND INDEXES 157

11. ACQUISITIONS & MERGERS 165

12. DEFENCE NEWS 169

13. SCIENCE & TECHNOLOGY 177

14. SPORTS NEWS 190

15. OBITUARIES 208

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 Important Monthly Current Affairs Capsule – February 2025

IMPORTANT DAYS
Indian Coast Guard Day 2025: 01st February
• The ICG Day or Indian Coast Guard Day is celebrated on 01st February every year.
• The Indian Coast Guard is a multi-mission organization, conducting round-the-year real-life
operations at sea.
• The Indian Coast Guard was initially established on 1 February 1977 due to an emergency.
• On the 18th of August,1978 the Indian Coast Guard was established officially and was declared
by the Parliament of India by the Coast Guard Act, 1978.
About Indian Coast Guard (ICG)
● Motto: Vayam Rakshamah – "We Protect"
● Organization Type: The Indian Coast Guard (ICG) is a non-military organization that functions
under the Ministry of Defence.
● Headquarters: New Delhi.
International Development Week 2025: 2nd to 8th February
● International Development Week 2025 is celebrated from 2nd to 8th February 2025 (first full
week of February).
● International Development Week is a national event promoted by the Canadian International
Development Agency (CIDA).
● International Development Week was initiated in 1990 by the Canadian International
Development Agency (CIDA).
● The first event of IDW was held in 1998.
World Wetlands Day 2025: 2nd February
● World Wetlands Day is celebrated on 2nd February every year.
● Aim to raise global awareness about the vital role of wetlands for people and the planet.
● The Convention on Wetlands was adopted in 1971.
● World Wetlands Day was first celebrated in 1997.

World Cancer Day 2025: February 4th

● World Cancer Day, observed annually on February 4th, is a global initiative dedicated to raising
awareness, taking action, and reducing the impact of cancer worldwide.
● The 2025 theme, “United by Unique,” marks the beginning of a three-year global campaign
(2025-2027), emphasizing individualized care and inclusivity in cancer treatment.

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 Important Monthly Current Affairs Capsule – February 2025

● Established: February 4, 2000, at the World Cancer Summit for the New Millennium in Paris.

International Day Of Zero Tolerance For Female Genital Mutilation: 6th February
● International Day Against Female Genital Mutilation 2025 is observed on the 6th February 2025.
● The Joint Programme on Female Genital Mutilation/Cutting was initiated by UNFPA and UNICEF
in 2007 to accelerate the abandonment of the practice.
● The UN General Assembly in 2012 adopted a resolution A/RES/67/14 on the elimination of
Female Genital Mutilation (FGM).
World Pulses Day: 10th February
• World Pulses Day 2025 is observed on the 10th of February.
• On December 20, 2018, the General Assembly of the United Nations proclaimed February 10 as
World Pulses Day through resolution (A/RES/73/251), and the day has been celebrated as a
global event since 2019 and supported by many member nations.

International Epilepsy Day: 10th February

• International Epilepsy Day 2025 is observed on the 10th of February 2025.
• International Epilepsy Day is the brainchild of the International Bureau for Epilepsy and the
International League Against Epilepsy.
• The two organizations have put together various events on the day since their inception.

National Deworming Day: 10th February

• National Deworming Day 2025 is observed on the 10th of February 2025.
• According to a report by the World Health Organisation, around 241 million children in India, all
between the ages of 1 and 14 years are at risk of parasitic intestinal worms.
• The Presence of these parasitic worms also known as Soil- Transmitted Helminths (STH)
• National Deworming Day was launched first on 10th February 2015.
International Day of Women and Girls in Science: 11th February
• The 10th International Day of Women and Girls in Science 2025 is observed on 11th February
2025
• The Commission on the Status of Women adopted a report on March 14, 2011, with the goal of
encouraging girls and women to pursue careers in science, technology, engineering, and math.
• In 2015, the United Nations General Assembly declared 11 February as the International Day of
Women and Girls in Science.

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 Important Monthly Current Affairs Capsule – February 2025

• On 11 February 2025, we will celebrate its 10th anniversary together at UNESCO Headquarters.

Safer Internet Day: 11th February

• Safer Internet Day 2025 is observed on the 11th of February 2025.
• The inaugural Safer Internet Day was observed globally in 2003, and since then, it has been
observed annually.
• This year, the Safer Internet Day is going to be celebrated on 11th February 2025 under the
theme of "Together for a Better Internet".
• In 2004 the EU SafeBorders project launched it, and in 2005 the Insafe network of European
Safer Internet Centers (SICs) adopted it.
World Day of the Sick 2025: 11th February
• World Day of the Sick is a Catholic Church awareness day, or observance, on February 11,
aimed at praying and sharing, sacrificing one’s suffering for the welfare of the church, and urging
everyone to see the face of Christ in his or her ailing brother or sister.
• On February 11, 1993, the first World Day of the Sick was observed.
• The World Day of the Sick had a particular significance in 2005 because the ailing pope died on
April 2 of that year.
National Productivity Day: 12th February
• National Productivity Day 2025 is observed on the 12th of February 2025.
• The theme for National Productivity Day 2025 is “From Ideas to Impact: Protecting Intellectual
Property for Competitive Startups”.
• On February 12, 1958, the National Productivity Council of India was Registered under Societies
Registration Act XXI, 1860.
World Radio Day 2025: 13th February
• World Radio Day is celebrated on 13 February is a date proclaimed by UNESCO to celebrate
radio broadcasts, improve international cooperation among radio broadcasters and encourage
decision-makers to create and provide access to information through radio, including community
radios.
• He sent and received a telegram over the first radio signal in history from Italy in 1895.
• The first radio station in America was established in Pittsburgh in 1919, and the FM radio
debuted in 1939.
• This was accompanied by the first internet-only 24-hour radio station. In 2011, at the 36th
session of UNESCO’s General Conference, February 13 was proclaimed as World Radio Day.

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 Important Monthly Current Affairs Capsule – February 2025

International Childhood Cancer Day (ICCD) – February 15, 2025

● International Childhood Cancer Day (ICCD), observed annually on February 15, is a global
movement aimed at raising awareness about childhood cancer, advocating for improved
treatments, and supporting young cancer patients and their families.
● The 2025 observance marks the 24th anniversary of ICCD, established in 2002 by Childhood
Cancer International (CCI).
Origins of ICCD
● Established by Childhood Cancer International (CCI) in 2002.
● Objective: Raise awareness, promote early detection, and advocate for better treatments and
support for families.
World Day of Social Justice 2025: 20th February
● The United Nations (UN) World Day of Social Justice is annually observed on February 20 to
encourage people to look at how social justice affects poverty eradication
● World Day of Social Justice is not a public holiday but rather a global observance that has been
in effect since 2009.
● More than one hundred international political leaders held a World Summit for Social
Development in Copenhagen, Denmark in 1995, to fight against poverty and full employment and
aspired that they would also strive to have stable, and safe societies.
International Mother Language Day 2025: February 21
● Every year February 21 is celebrated as International Mother Language Day 2025 all over the
world.
● UNESCO declared February 21st as International Mother Language Day in the year 1999 and
has been witnessed all throughout the world since 2000.
● This declaration of Mother Language Day came into existence as a tribute to the language
movement in Bangladesh. When Pakistan was separated in 1947 it had two partitions: East
Pakistan and West Pakistan.

World Scout Day 2025: 22nd February

● World Scout Day is celebrated every 22nd February.
● Each year on February 22nd, we honour Robert Baden-birth Powell’s anniversary by celebrating
World Scout Day.
History:
● The World Scout Day history. Baden-Powell maintained a testing center on Brownsea Island,

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 Important Monthly Current Affairs Capsule – February 2025

Poole, Dorset, in 1907.

● He fetched concurrently 22 boys and positioned them in the base under his supervision.
● The whole world was awaiting the result of the base. In 1908, ‘Scouting for Boys’ was published
by Baden Powell for the first time.
World Thinking Day: 22nd February
● World Thinking Day 2025 is observed on 22nd February.
History
● In 1926, delegates from across the world met at Camp Edith Macy, now named the Edith Macy
Conference Center in New York for the 4th World Conference, and decided to create a day for
guides and Girl Scouts.
● They selected the joint birthday of Lord Baden-Powell, the founder of the Scout and Guide
movement, and his wife Olave as the Thinking Day.
● In 1999, during the Dubai Conference, the name of Thinking Day was changed to ‘World
Thinking Day.’
Central Excise Day 2025: February 24
● Every year February 24 is celebrated as the central Excise Day all over the world.
● The day is being celebrated to honor the service of the Central Board of Excise and Customs
(CBEC) to the country.
History
● The Central Excise Department was one of the oldest departments in India which
was established in the year 1855, under the British Raj.
● “The Central Excise Act” or “The Central Excise and Salt Act” was regulated in the year 1944, in
which year for the first time Central Excise Day was celebrated but later in the year 1996 these
acts get some changes.
● For the Central Excise Officers under the Union Government the “Power to Arrest” was given in
the year 1973, which in the year 2013 was given to the Service Tax Matters.
● In this act, at first, there were 67 items mentioned about the Excise Duties which now
approximately reach the number 1000.
World NGO Day: 27th February
● World NGO Day 2025 is observed on the 27th of February 2025.
● G.O. is an acronym for non-governmental organization.
● World NGO Day is a day set aside to recognize, celebrate, and honor the fundamental
contributions and profound impact that these independent organizations have had on the world

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 Important Monthly Current Affairs Capsule – February 2025

World NGO Day History

● World NGO Day was originally founded in 2009 by Marcis Liors Skadmanis, a social
entrepreneur.
● However, it was observed for the first time on February 27, 2014.
● It’s a day set aside to honor all non-governmental and nonprofit organizations, recognizing their
impact on the world.
● The holiday was officially declared back in 2010 by the 12 member countries of the Baltic Sea
NGO Forum, recognized as a partner of the Council of the Baltic Sea States.
● However, it only received international recognition in 2014 from the European Union, the United
Nations, and other international organizations.
World Protein Day: February 27
● World Protein Day, observed annually on February 27, aims to raise awareness about the
importance of protein in human nutrition.
● It highlights the health benefits of adequate protein intake while addressing the challenges of
protein deficiency.
● This observance also emphasizes the role of protein-rich foods in ensuring global nutritional
security, promoting better health and well-being worldwide.
History of World Protein Day
● Initiated by the US Soybean Export Council (USSEC) to educate people on the importance of
protein in nutrition and health.
● Established to spread awareness about adequate protein intake to prevent deficiencies and
related health issues.
● Over the years, it has evolved into a global campaign with participation from organizations,
institutions, nutrition experts, and individuals.
● In India, National Protein Day is also observed on February 27, aligning with the global initiative.
National Science Day 2025: February 28
● National Science Day is celebrated on 28th February every year to honor the discovery of
the Raman Effect by Sir C.V. Raman while working at the Indian Association for the Cultivation of
Science, Kolkata.
● His groundbreaking discovery earned him the Nobel Prize in 1930.
Theme & Vision for 2024
● The theme for National Science Day 2024 is “Empowering Indian Youth for Global Leadership in
Science & Innovation for VIKSIT BHARAT”.

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 Important Monthly Current Affairs Capsule – February 2025

● It underscores the role of young minds in shaping India’s scientific and technological future,
aligning with Viksit Bharat 2047, a vision for a self-reliant and developed India.

BANKING AND FINANCE

Reserve Bank of India releases Framework for imposing monetary penalty and compounding of
offences under the Payment and Settlement Systems Act, 2007
● The Reserve Bank of India (RBI) has tightened norms for imposing monetary penalties and
compounding offences under the Payment and Settlement Systems Act (PSS Act),2007.
● The aim is to rationalise and consolidate enforcement actions against payment system operators
and banks.
● The PSS Act outlines provisions for offences and penalties under Section 26.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra

Securities and Exchange Board of India (SEBI) mulls safe Unified Payments Interface payment
mechanism for registered market intermediaries
● The Securities and Exchange Board of India (SEBI) proposed measures to safeguard investors
and ensure transactions are made only with registered intermediaries through Unified Payments
Interface (UPI).
● The proposal includes creating a unique UPI address for the collection of money by investors.
● The move comes amid rising instances of online financial frauds.
About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.
Capital market regulator in India, Securities and Exchange Board of India (SEBI) Penalizes DB Realty
(Valor Estate) and 7 Entities with Rs 25 Lakh Fine for Financial Misstatements

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 Important Monthly Current Affairs Capsule – February 2025

● Securities and Exchange Board of India (SEBI) has imposed a total fine of Rs 25 lakh on 8
entities, including DB Realty (now Valor Estate) and its promoters, for violations related to financial
misstatements and non-disclosures.
● The entities fined include:
● DB Realty Ltd (Valor Estate): Rs 5 lakh.
● Vinod Kumar Goenka (Promoter and Chairperson-MD): Rs 5 lakh.
● Shahid Balwa Usman (Promoter and MD): Rs 5 lakh.
● Asif Yusuf Balwa, Jayvardhan Vinod Goenka, Salim Balwa Usman, Sunita Goenka, Nabil Yusuf
Patel: Rs 2 lakh each.
About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

South Indian Bank Launches Two Specialized Startup Current Account Products to Support India's
Startup Ecosystem
● South Indian Bank (SIB) has launched two specialized startup current account products to
support the growing startup ecosystem in India: SIB Business Startup Current Account and SIB
Corporate Startup Current Account.
● These products are designed to cater to different types of businesses, with features tailored to
their specific financial needs.
● The SIB Business Startup Current Account is for sole proprietorships and partnerships, providing
essential banking support during the early stages of a business.
About South Indian Bank:
● Founded Year: 1929
● Headquarters: Thrissur, Kerala, India
● MD & CEO: P.R. Seshadri
● Tagline : "Experience Next-Gen Banking"

Indian Bank and Indian Institute of Technology Madras Partner to Conduct Cybersecurity and Fintech

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 Important Monthly Current Affairs Capsule – February 2025

Hackathon
● Indian Bank has announced a Cyber Security & FinTech hackathon in collaboration with the
Indian Institute of Technology (IIT) Madras, set for April 2025.
● This event is part of a broader hackathon series organized by Public Sector Banks (PSBs) under
the guidelines of the Department of Financial Services (DFS) and the Indian Banks’ Association (IBA).
● The series focuses on encouraging innovation by partnering with IITs, universities, and scientific
institutions to address emerging challenges in financial technology and cybersecurity.
About Indian Bank:
● Founded: 1907
● Headquarters: Chennai, Tamil Nadu, India
● Managing Director & CEO: Binod Kumar
● Tagline: "Your Own Bank"

HDFC Life Insurance Company Moves Ahead with Rs 900 Crore non-convertible debentures (NCD)
Issuance to Strengthen Financial Position
● HDFC Life Insurance Company has approved the issuance of non-convertible debentures
(NCDs) worth Rs 900 crore on a private placement basis.
● This decision was made during a Capital Raising Committee (CRC) meeting held on February 5,
2025.
● Non-convertible debentures (NCDs) are debt instruments that are issued by companies to raise
funds.
● They are a type of fixed-income instrument that cannot be converted into equity or stocks.
About HDFC Life Insurance:
● Headquarters: Mumbai, Maharashtra, India
● CEO: Vibha Padalkar
● Founded Year: 2000

India's apex development bank, National Bank for Agriculture and Rural Development (NABARD)
approves 127 Projects Worth ₹903 Crore in Himachal Pradesh.
● The Himachal Pradesh government has received approval from the National Bank for Agriculture
and Rural Development (NABARD) for 127 projects worth ₹903.21 crore for the 2024-25 financial year,
as announced by Chief Minister Sukhvinder Singh Sukhu.
● The approved projects include:

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 Important Monthly Current Affairs Capsule – February 2025

o 50 MLA-priority schemes under the Public Works Department, valued at ₹412.75 crore.
o 23 MLA-priority schemes under the Jal Shakti Vibhag, worth ₹179.07 crore.
About NABARD:
● Headquarters: Mumbai, Maharashtra, India
● Founded: 1982
● Chairman: Shaji K V
● Parent Ministry: Ministry of Finance, Government of India
Airtel Payments Bank Teams Up with Karnataka Bulldozers for Celebrity Cricket League 2025 to
Promote Safe Digital Banking
● Airtel Payments Bank has partnered with the Karnataka Bulldozers for the Celebrity Cricket
League (CCL) 2025.
● Airtel Payments Bank will co-sponsor the team and promote safe digital banking solutions to fans
across India.
● The partnership highlights Airtel Payments Bank’s focus on providing simple, safe, and rewarding
banking services, while promoting the passion and energy of the Karnataka Bulldozers.
About Airtel Payments Bank:
● Headquarters: New Delhi, India
● CEO: Anubrata Biswas

Reserve Bank of India injects $5.1 billion in liquidity through an oversubscribed Forex swap auction
● The Reserve Bank of India (RBI) conducted a $5 billion 6-month dollar/rupee buy-sell swap
auction.
● The auction was oversubscribed five-fold, with bids totaling $25.59 billion from 253 participants.
● The RBI accepted 28 bids, totaling $5.1 billion.
● The premium cut-off was set at 96.81 paisa, slightly below the prevailing market level before the
auction results were announced.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra

L & T Finance Limited Launches Knowledgeable AI (KAI), an AI-powered Virtual Home Loan Advisor on
its New Corporate Website

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 Important Monthly Current Affairs Capsule – February 2025

● L&T Finance Limited (LTF) has launched Knowledgeable AI (KAI), an AI-powered virtual advisor
on its redesigned website for home loans.
● KAI aims to simplify the home loan journey, especially for first-time buyers, by addressing
challenges like complex terminology and lengthy processes.
● The AI tool uses advanced Large Language Model (LLM) technology to offer personalized home
loan guidance, including EMI calculations, loan estimates, and expert answers.
About L&T Finance:
● Founded: 1994
● Headquarters: Mumbai, Maharashtra, India
● Managing Director & CEO: Sudipta Roy
Insurance Regulatory and Development Authority of India (IRDAI) Restricts Health Premium Hikes for
Seniors to 10% Annually
● The Insurance Regulatory and Development Authority of India (IRDAI) has directed insurers not
to increase health insurance premiums for senior citizens (aged 60 and above) by more than 10%
without prior approval.
● Insurers must seek regulator approval before discontinuing health policies for senior citizens.
● To control rising healthcare costs, insurers have been urged to standardise hospital
empanelment and negotiate package rates similar to the government’s PM Jan Arogya Yojana
(PMJAY).
About IRDAI:
● Headquarters (HQ): Hyderabad, Telangana, India
● Chairperson: Debasish Panda
● Founded: 1999
Paytm Cloud Technologies Limited to Acquire 25% Stake in Brazilian Finance Firm Dinie for $1 Million
● Paytm Cloud Technologies Limited (PCTL) to invest $1 million (Rs 8.7 crore) for a 25% stake in
Seven Technology LLC.
● Seven Technology LLC is the parent of Brazilian embedded finance startup Dinie.
● Expand Paytm’s merchant payments and financial services business in emerging fintech
markets.
● Seven Technology and Dinie to become associate entities of Paytm’s parent company, One97
Communications.
About Paytm:
● Headquarters: Noida, Uttar Pradesh, India

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 Important Monthly Current Affairs Capsule – February 2025

● Founded: 2010
● Chairman & CEO: Vijay Shekhar Sharma
● Subsidiaries: Paytm Payments Bank, Paytm Mall, Paytm Cloud Technologies
● Key Products: Paytm App, Paytm Wallet, Paytm Payments Bank, Paytm Mall

HDFC Bank to Fund Over 50 Startups with 15 Incubators

● India's largest private sector bank,HDFC Bank has launched the 8th edition of its Parivartan
Start-Up Grants initiative, with a total commitment of up to ₹20 crore.
● The initiative aims to support 50-60 social ventures this fiscal year.
● HDFC initiative funds startups in AI for social good, climate innovation, financial inclusion,
agriculture, and sustainable rural development, along with education, livelihood enhancement, gender
diversity, and inclusion.
About HDFC Bank:
● Founded: 1994
● Headquarters: Mumbai, Maharashtra, India
● Managing Director & CEO: Sashidhar Jagdishan
● Tagline: "We understand your world"

Beacon Introduces India Bill Pay Within the My Beacon Super App, Enabling Immigrants to Manage
Money Seamlessly Across Borders
● Beacon launched Beacon India Bill Pay, enabling users in Canada to pay bills in India directly
from their Beacon Money account.
● This service allows payment of over 20,000 bills in India using Canadian Dollars, integrating with
Bharat Connect (formerly Bharat Bill Payment System, BBPS).
● The service complies with Reserve Bank of India policies and eliminates the need for NRI
accounts or intermediaries.

Reserve Bank of India approves Tata Communications' stake sale in Automatic Teller Machine biz to
Australian Fintech for Rs 300 crore
● The Reserve Bank of India (RBI) approved for Tata Communications to divest its 100% stake in
Tata Communications Payment Solutions Limited (TCPSL) to Findi's Indian subsidiary, Transaction
Solutions International (TSI).

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 Important Monthly Current Affairs Capsule – February 2025

● The deal is valued at Rs 330 crore, with an additional Rs 75 crore contingent on certain
conditions.
● Findi aims to expand its footprint in India's financial services sector, particularly targeting the
'underbanked' population.
● TSI aims to evolve into a payments bank, leveraging its network of 7,500 ATMs, including 'brown
label' ATMs in collaboration with 12 banks.
About RBI:
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra

Securities and Exchange Board of India tightens algo trading norms for safer participation of retail
investors
● The Securities and Exchange Board of India (SEBI) aims to ensure the safer participation of retail
investors in algorithmic trading through brokers.
● Brokers are the principal, while algo providers/fintech/vendors act as their agents when using the
broker's API.
● Algo trading refers to orders generated using automated execution logic, offering timed and
programmed execution.
About SEBI:
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.
Government-e-Marketplace (GeM) Sahay 2.0 Welcomes 121 Finance as First Lender Under Open
Credit Enablement Network (OCEN) Framework
● 121 Finance is an Reserve Bank of India-registered NBFC-Factor that partnered with GeM
(Government-e-Marketplace), an initiative of the Ministry of Commerce and Industry, along
with Perfios and Tata Consultancy Services (TCS), to launch the enhanced version of GeM Sahay.
● The smallest invoice financed by 121 Finance on the previous version of GeM Sahay was INR
160, showcasing its ability to cater to diverse business needs and promote financial inclusion.

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 Important Monthly Current Affairs Capsule – February 2025

About 121 Finance:

● Headquarters: Jaipur, Rajasthan, India
● Founder and CEO: Ravi Modani
● Founded: 2015
Paytm unveils ‘Receive Money QR Widget’ for Android, expanding seamless payment collection
● One 97 Communications (OCL) owns Paytm, India's leading payments and financial services
distribution company, has launched a new ‘Receive Money QR Widget’ for Android users, enabling
instant payment collection directly from a smartphone’s home screen.
● Paytm is a pioneer in QR codes, Soundbox, and mobile payments.
● The widget is designed to benefit influencers, shopkeepers, freelancers, delivery partners, and
small businesses by simplifying and speeding up payment collection.
About Paytm:
● Headquarters: Noida, Uttar Pradesh, India
● Founded: 2010
● Chairman & CEO: Vijay Shekhar Sharma
● Subsidiaries: Paytm Payments Bank, Paytm Mall, Paytm Cloud Technologies
● Key Products: Paytm App, Paytm Wallet, Paytm Payments Bank, Paytm Mall
Economic Survey 2024-2025: Overview and Preparation
● The Economic Survey 2025 provides a comprehensive review of India’s economic performance
over the past year and sets the tone for future policy directions.
● It is traditionally presented in Parliament on January 31,2025 a day before the Union Budget.
● Finance Minister Nirmala Sitharaman is expected to table the survey in the Lok Sabha in 2025.
● The survey is prepared under the guidance of the Chief Economic Adviser (CEA) to the
Government of India.
About Ministry of Finance:
● Cabinet Minister: Nirmala Sitharaman
● State Minister: Pankaj Chaudhary
Banking Alert: National Payment Corporation of India Recommends Higher Automatic Teller Machine
Fees for Cash and Non-Cash Transactions
● National Payments Corporation of India (NPCI) recommends increasing ATM cash transaction
fees from ₹21 to ₹22 per transaction beyond the free limit.
● ATM interchange fee hike proposed: ₹17 to ₹19 for cash transactions and ₹6 to ₹7 for non-cash
transactions.

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 Important Monthly Current Affairs Capsule – February 2025

● Banks pay interchange fees when their customers use another bank’s ATM.
● For non-metro areas, industry players recommend ₹21 per cash transaction and ₹7 for non-cash
transactions.
About NPCI:
● Headquarters: Mumbai, Maharashtra, India
● Founded: 2008
● CEO: Dilip Asbe
● Key Initiatives: Unified Payments Interface (UPI), Immediate Payment Service (IMPS), RuPay
(domestic card payment network), Bharat Bill Payment System (BBPS), Aadhaar Enabled Payment
System (AePS)

Reserve Bank of India Releases Latest Data on ₹2000 Denomination Banknote Withdrawal
● Reserve Bank of India (RBI) announced withdrawal of ₹2000 banknotes on May 19, 2023; latest
update published on January 1, 2025.
● Deposit/exchange facility at bank branches was available until October 7, 2023.
● RBI’s 19 Issue Offices continue to exchange ₹2000 notes since May 19, 2023, and accept
deposits from October 9, 2023.
● The public can send ₹2000 banknotes via India Post to RBI Issue Offices for deposit.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra

Sharan Hegde's 1% Club becomes the first finfluencer-led company to get Securities and Exchange
Board of India’s Registered Investment Adviser (RIA) license
● The 1% Club, founded by Sharan Hegde, becomes India’s first finfluencer-led startup to secure a
Registered Investment Adviser (RIA) license from Securities and Exchange Board of India (SEBI).
● Compliance & Transparency: Achieved after a six-month review process involving legal and
compliance experts.
● Market Focus: Aims to serve India's middle-class segment, addressing the gap in professional
financial advice.
About SEBI :

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 Important Monthly Current Affairs Capsule – February 2025

● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.
Exto India Technologies Selected by Reserve Bank of India to Test Offline Payment Solutions in Retail
Payments Sandbox
● The Reserve Bank of India (RBI) has launched a regulatory sandbox for testing ‘On Tap’
applications under the theme ‘Retail Payments’.
● Exto India Technologies Private. Limited. was selected for the Test Phase and evaluated an
offline digital payment product.
● The product uses Distributed Ledger Technology (DLT) combined with private biometric
authorization to enable offline card-to-card and card-to-phone transactions.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra

India Post Payments Bank (IPPB) and PNB MetLife India Insurance Forge Bancassurance Partnership
to Enhance Life Insurance Accessibility Across India
● India Post Payments Bank (IPPB) and PNB MetLife India Insurance Company Limited (PNB
MetLife) have launched a bancassurance partnership to expand life insurance accessibility across India.
● The collaboration will leverage IPPB's network of 650 outlets and its customer base of 110 million
to promote financial inclusion.
● Bank assurance, also known as bancassurance, is a partnership between a bank and an
insurance company to sell insurance products to the bank's customers.
About IPPB:
● Founded: 2018
● Headquarters: New Delhi, India
● Tagline: "Aapka Bank, Aapke Dwaar" (Your Bank at Your Doorstep)
● IPPB is a payments bank that operates under the Department of Posts, Ministry of
Communications.

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 Important Monthly Current Affairs Capsule – February 2025

About PNB MetLife:

● Founded: 2001
● Headquarters:Mumbai, Maharashtra
● MD & CEO: Sameer Bansal

Financial Intelligence Unit-India Imposes ₹9.27 Crore Penalty on Bybit Fintech Limited for Prevention of
Money Laundering Act Violations.
● The Financial Intelligence Unit-India (FIU-IND) has imposed a monetary penalty of ₹9,27,00,000
(Nine crore twenty-seven lakh rupees) on Bybit Fintech Limited for violations under the Prevention of
Money Laundering Act (PMLA), 2002.
● Bybit is a Virtual Digital Asset Service Provider (VDA SP), classified as a 'reporting entity' under
Section 2(1)(wa) of the PMLA.
● Bybit failed to secure mandatory registration with FIU-IND while expanding its services in the
Indian market, leading to continuous non-compliance.
About FIU (Financial Intelligence Unit - India):
● Established: November 18, 2004
● Headquarters: New Delhi, India
● Parent Organization: Ministry of Finance, Government of India

Visa Teams Up with Elon Musk's X to Introduce 'X Money' Accounts Later This Year
● X (formerly Twitter) is moving towards becoming an "everything app," a concept Musk has
envisioned for years, and is partnering with Visa to launch real-time payments in 2024, introducing a
new digital wallet service called "X Money Account" for peer-to-peer payments.
● The service will be powered by Visa Direct for real-time money transfers.
● Users can transfer funds to their bank accounts.
Kotak Mutual Fund launches India’s first Morgan Stanley Capital International India exchange-traded
fund (ETF)
● Kotak Mahindra Asset Management Company (Kotak Mutual Fund) has launched the Kotak
MSCI India exchange-traded fund (ETF), India’s 1st-ever fund replicating the MSCI India Index, offering
investors a unique opportunity to gain exposure to India’s thriving economy.
● The fund, open for public subscription from January 29 to February 12, 2025.
● The Morgan Stanley Capital International (MSCI) index is an index used by global investors to
track India’s growth story.

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 Important Monthly Current Affairs Capsule – February 2025

Reserve Bank of India Monetary Policy Committee 2025: Repo Rate Reduced to 6.25% After Two
Years Amid Slowing Growth and Easing Inflation
• The 6 Member Monetary Policy Committee (MPC) revised the repo rate for the first time in two
years, unanimously voting for a 25 basis points (bps) cut from 6.50% to 6.25%.
• This decision was driven by easing retail inflation and slowing economic growth, despite
continued pressure on the Rupee from global trade tensions.
• The MPC held its 53rd meeting from February 5 to 7, 2025 under the chairmanship of Shri
Sanjay Malhotra.

RBI Policy Rates from 2024 to 2025:

Current
Rate (%)
Term Definition Rate (%)
2024
2025
• Rate at which RBI lends money to commercial
Repo Rate 6.25% 6.50%
banks in case of a shortfall of funds.
• Rate at which RBI borrows money from
Fixed Reverse
commercial banks for short-term liquidity 3.35% 3.35%
Repo Rate
management.
Standing
• Rate at which RBI accepts overnight deposits
Deposit Facility 6.00% 6.25%
from banks without offering collateral.
(SDF) Rate
Marginal
Standing • Rate at which banks can borrow overnight funds
6.50% 6.75%
Facility (MSF) from RBI against government securities.
Rate
• Rate at which RBI lends money to commercial
Bank Rate 6.50% 6.75%
banks for the long term, without collateral.
Cash Reserve • Percentage of a bank's total deposits to be kept
4.00% 4.00%
Ratio (CRR) as reserves with RBI, in cash.

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 Important Monthly Current Affairs Capsule – February 2025

Statutory
• Percentage of a bank's net demand and time
Liquidity Ratio 18.00% 18.00%
liabilities (NDTL) to be held in liquid assets.
(SLR)
About RBI:
• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Sanjay Malhotra

Insolvency and Bankruptcy Board of India proposes ‘mini group insolvency’ to streamline resolution of
interconnected entities
• The Insolvency and Bankruptcy Board of India (IBBI) has proposed a mechanism to improve the
Corporate Insolvency Resolution Process (CIRP) for interconnected entities.
• Currently, the lack of a structured approach for handling multiple related entities undergoing
CIRP simultaneously leads to inefficiencies, increased costs, and conflicts.
About IBBI:
• Founded: October 1, 2016
• Headquarters: New Delhi, India
• Chairperson: Ravi Mital

Ujjivan Small Finance Bank Seeks Reserve Bank of India Approval for Universal Banking License
• Ujjivan Small Finance Bank (SFB) has applied to the Reserve Bank of India (RBI) for a universal
bank license.
• This move aims to broaden the financial services Ujjivan can offer its customers.
• The RBI has recently established a committee, headed by former Deputy Governor MK Jain, to
evaluate such applications.
• The RBI's "Guidelines for ‘on-tap’ Licensing of SFBs in Private Sector" outlines the criteria for
SFBs transitioning to universal banks.
About Ujjivan SFB:
• Headquarters: Bengaluru, Karnataka, India
• Founded: 2017
• CEO: Sanjeev Nautiyal
• Tagline : Build a Better Life

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 Important Monthly Current Affairs Capsule – February 2025

• Ujjivan Financial Services holds an 80% stake in the bank.

• It is licensed under Section 22 (1) of the Banking Regulation Act, 1949 to carry out small finance
bank business and received Scheduled Bank status from the Reserve Bank of India in August
2017.

Indian Overseas Bank To Celebrate 89th Foundation Day With Commitment To Sustainability
• Indian Overseas Bank (IOB) is celebrating its 89th Foundation Day on February 10, 2025, and
has announced its commitment to environmental sustainability by joining the Partnership for
Carbon Accounting Financials (PCAF).
• IOB is one of the early adopters in the Indian banking sector to join this global initiative,
reinforcing its dedication to combating climate change and promoting responsible banking.
• The PCAF is a globally recognized collaboration of financial institutions working to harmonize the
measurement and disclosure of greenhouse gas (GHG) emissions associated with loans and
investments.
About Indian Overseas Bank:
• Founded: 1937
• Headquarters: Chennai, Tamil Nadu, India
• MD & CEO: Ajay Kumar Srivastava

Poonawalla Fincorp Makes a Bold Tech Leap into AI-Driven Audit and Governance with ServiceNow
• Poonawalla Fincorp collaborates with ServiceNow to implement AI-powered solutions for audit
and governance.
• Aims to enhance efficiency, automation, and compliance in operations.
• With the global AI in Audit market projected to reach USD 11.7 billion by 2033 at a CAGR of
27.9%, as mentioned in the market.us ‘Global AI in Audit’ report , many attribute this growth to
GenAI’s ability to pinpoint high-risk areas and detect anomalies, enabling a sharper focus on
critical issues that might otherwise go unnoticed.
About Poonawalla Fincorp Limited:
• Poonawalla Fincorp Limited (“the Company”) is a Cyrus Poonawalla group promoted non-deposit
taking systemically important non-banking finance company (ND-SI-NBFC), registered with the
Reserve Bank of India (RBI).
• The Company started operations nearly three decades back and is listed on the BSE Limited
(BSE) and the National Stock Exchange of India Limited (NSE).

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 Important Monthly Current Affairs Capsule – February 2025

• MD & CEO: Arvind Kapil

Bank of Baroda and Tata Power Collaborate for Financing of Rooftop Solar under Pradhan
Mantri Surya Ghar Muft Bijli Yojana
• Tata Power Renewable Energy Limited (TPREL) has signed a Memorandum of Understanding
(MoU) with Bank of Baroda for financing residential rooftop solar systems under the Pradhan
Mantri Surya Ghar Yojana (PMSGY).
• Loans up to Rs 600,000 at interest rates starting from 7% per annum with fixed and floating
options.
• Loans of up to Rs 200,000 for rooftop solar systems of up to 3 kW with minimal documentation
and 10% margin.
About Bank of Baroda (BoB):
• Founded: 1908
• Headquarters: Vadodara, Gujarat, India
• Managing Director & CEO: Debadatta Chand
• Tagline: "India’s International Bank"

India's central bank, Reserve Bank of India approves two voluntary urban co-operative bank
amalgamations
• The Reserve Bank of India (RBI) has approved two voluntary amalgamations in the urban co-
operative bank (UCB) sector:
o The Citizen Co-operative Bank (Vasco-De-Gama, Goa) → Merging with TJSB Sahakari

Bank (Thane, Maharashtra).

o Pune Commercial Co-operative Bank (Satara, Maharashtra) → Merging with Pimpri
Chinchwad Sahakari Bank (Pune, Maharashtra).

Reserve Bank of India forms working group to review trading and settlement timings of regulated
markets
• The Reserve Bank of India (RBI) has formed a working group led by Executive Director Radha
Shyam Ratho to review trading and settlement timings of financial markets regulated by the RBI,
with a report due by April 30, 2025.

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 Important Monthly Current Affairs Capsule – February 2025

• The review aims to synchronize market and settlement timings for efficient price discovery and
liquidity management, considering technological advancements such as increased
electronification of trading, 24×5 forex and derivatives markets, and 24×7 payment systems.
• India’s financial markets currently operate between 9 AM and 5 PM, and the group will assess
the impact of these timings on price transmission, liquidity, volatility, and trade distribution.

Reserve Bank of India Announces One-Year Deferral for Liquidity Coverage Ratio and Project
Financing Guidelines
• The Reserve Bank of India (RBI) deferred implementation of Liquidity Coverage Ratio (LCR) and
project financing norms by a year, new deadline: March 31, 2026.
• Decision taken due to concerns that the March 2025 deadline was too soon and could disrupt the
financial system.
• Public and private sector banks had opposed the norms, fearing a liquidity crisis.
• New LCR norms would have required banks to divert over ₹4 lakh crore into government bonds
instead of lending to businesses and individuals.

Reserve Bank of India Introduces Exclusive "bank.in" Domain to Combat Digital Banking Fraud
• The Reserve Bank of India (RBI) launches an exclusive internet domain ‘bank.in’ for registered
banks to enhance cybersecurity and prevent phishing scams.
• Registration for ‘bank.in’ starts in April 2025.
• RBI plans to introduce another dedicated domain, ‘fin.in’, to secure the broader financial sector.
• ‘Bank.in’ will help mitigate risks of fraudulent banking websites that exploit public trust.
• RBI to extend Additional Factor of Authentication (AFA) for international digital payments to
offshore merchants supporting this feature, adding an extra layer of security.

Gold demand in India sees 5% rise at 802.8 tonnes in 2024, 2025 projection at 700-800 tonnes: World
Gold Council
• Gold investments in India surged by 60% in 2024, reaching $18 billion (~₹1.5 lakh crore),
compared to 2023, according to a report.
• The World Gold Council (WGC) report added that gold investment demand stood at 239 tonnes,
marking its highest level since 2013.
• This was a 29% increase from the 185 tonnes recorded in 2023.

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 Important Monthly Current Affairs Capsule – February 2025

About World Gold Council:

• Established: 1987
• Headquarters: London, United Kingdom
• CEO: David Tait
• President : Kelvin Dushnisky
• The World Gold Council is an international trade association for the gold industry.

Indian digital payments and financial services company, PhonePe exits Account Aggregator business
citing an inability to onboard a sufficient number of financial information providers
• PhonePe Group announced its decision to exit the Account Aggregator business and instead
collaborate with other account aggregators in the market.
• The company will surrender its NBFC-AA license to the Reserve Bank of India (RBI) and has
initiated the wind-down of its account aggregator operations.
• In 2023, PhonePe, owned by Walmart, received in-principle approval from the RBI to operate as
an Account Aggregator, followed by the final license in June 2023.
• Despite this, the company acknowledged that while it had successfully registered nearly 5 crore
Indians on its AA platform in under two years, it faced challenges in onboarding as many financial
information providers (FIPs) to its platform as it had hoped.
About PhonePe:
• Headquarters: Bengaluru, Karnataka, India
• Founded: 2015
• CEO: Sameer Nigam
• Subsidiaries: PhonePe Payments, PhonePe for Business, PhonePe Insurance, PhonePe Wealth,
PhonePe Bharat BillPay
• Key Products: PhonePe App, PhonePe Wallet, UPI Payments, PhonePe for Business, PhonePe
Insurance, PhonePe Gold, PhonePe Bharat BillPay

Non-Bank Brokers Allowed to Trade Government Securities on Negotiated Dealing System – Order
Matching (NDS-OM) Platform: Reserve Bank of India
• The Reserve Bank of India (RBI) allows Securities and Exchange Board of India (SEBI)-
registered non-bank brokers to access NDS-OM (Negotiated Dealing System – Order Matching)
for secondary market transactions in government securities.

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 Important Monthly Current Affairs Capsule – February 2025

• Currently, only regulated entities, banks, and standalone primary dealers have access to NDS-
OM.

Indian fintech company, Infibeam’s Rediff.com secures National Payments Corporation of India license
to offer Unified Payments Interface services
• Indian fintech company, Infibeam Avenues has achieved a significant milestone through its
subsidiary, Rediff.com, which has secured a Third-Party Application Provider (TPAP) license from the
National Payments Corporation of India (NPCI) for its digital payment platform, RediffPay.
• This move enables RediffPay to offer Unified Payments Interface (UPI) services, marking
Infibeam's strategic entry into the consumer-facing digital payments sector.
About Axis Bank:
• Founded Year: 1993
• Headquarters: Mumbai, Maharashtra, India
• CEO: Amitabh Chaudhry
• Slogan: "Badhti Ka Naam Zindagi" (A Life of Progress)
About Infibeam Avenues:
• Founded Year: 2007
• Headquarters: Ahmedabad, Gujarat, India
• CEO: Vishal Mehta
• Key Focus: Digital payments, e-commerce, and software solutions

General Insurance Corporation of India Strengthens Global Presence with United Kingdom Subsidiary
Initiative
• General Insurance Corporation of India (GIC Re)'s board of directors has approved the
incorporation of a wholly owned subsidiary—GIC Re, India Service Company—in the United
Kingdom.
• This move is part of the company's ongoing expansion strategy.
• Board Approval: The approval was granted during the board meeting held on 3 February 2025.
About General Insurance Corporation of India (GIC Re):
• Established: 1972
• Headquarters: Mumbai, Maharashtra, India
• Chairman & MD : Ramaswamy Narayanan

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 Important Monthly Current Affairs Capsule – February 2025

• The General Insurance Corporation is an Indian public sector reinsurance company.

Capital market regulator in India, Securities and Exchange Board of India Introduces Measures to
Streamline Related Party Transactions
• The Securities and Exchange Board of India (Sebi) has unveiled a series of proposals aimed at
reducing ambiguity in related party transaction (RPT) norms and improving transparency in
secretarial audit reports.
• Annual Secretarial Compliance Report (ASCR): SEBI has proposed changes to improve the
format and content of the ASCR to ensure explicit compliance with securities laws.
About SEBI :
• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

Hyderabad-based Ikonz Studios and IDFC FIRST Bank Launch Amitabh Bachchan’s AI Avatar for
Banking Communications
• IDFC FIRST Bank, in collaboration with Ikonz, has expanded its use of the latest artificial
intelligence (AI) avatar of Bollywood superstar Amitabh Bachchan to 10 more branches across
five new cities, including Delhi, Gurugram, Ahmedabad, Bangalore, and Hyderabad.
• This initiative allows Bachchan to connect with an additional 70 million people.
• Previously, Ikonz and IDFC FIRST Bank introduced Bachchan's AI avatar at the Juhu Branch in
Mumbai, where it quickly gained acceptance and improved customer trust and banking efficiency.
About IDFC FIRST Bank:
• Founded: 2015
• Headquarters: Mumbai, Maharashtra, India
• Managing Director & CEO: V. Vaidyanathan
• Tagline : Always You First
• Merger: IDFC Bank merged with Capital First in 2018

Indian multinational financial technology company, Paytm partners with online travel agency, Agoda to
launch hotel bookings on its application

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 Important Monthly Current Affairs Capsule – February 2025

• One 97 Communications Limited (Paytm) has teamed up with Agoda, a prominent digital travel
platform under Booking Holdings, to enhance its travel services.
• This collaboration enables Paytm Travel to offer hotel bookings alongside its existing services,
which include flights, buses, and trains.
• Travelers can now access Agoda’s vast selection of accommodations across both Indian and
international destinations directly through the Paytm app.
About Paytm:
• Headquarters: Noida, Uttar Pradesh, India
• Founded: 2010
• Chairman & CEO: Vijay Shekhar Sharma
• Subsidiaries: Paytm Payments Bank, Paytm Mall, Paytm Cloud Technologies
• Key Products: Paytm App, Paytm Wallet, Paytm Payments Bank, Paytm Mall

Indian insurance aggregator, Policybazaar And HDFC Life Launch Innovative Click 2 Protect Ultimate
Insurance Product
• In a groundbreaking move, Policybazaar has partnered with HDFC Life, a leading player in
India's life insurance sector, to launch the HDFC Life Click 2 Protect Ultimate.
• This collaboration is poised to set new standards in the insurance domain, positioning both
Policybazaar and HDFC Life at the forefront of innovation and customer satisfaction.
• The HDFC Life Click 2 Protect Ultimate is designed to address critical consumer concerns, such
as ease of acquiring insurance and a seamless claims process for beneficiaries.
About HDFC Life:
• Headquarters: Mumbai, Maharashtra, India
• Founded: 2000
• CEO: Vibha Padalkar
• Subsidiaries: HDFC Life Insurance, HDFC Pension Management, HDFC Life Asset Management
• Key Products: Life Insurance, Health Insurance, Pension Plans, Unit-Linked Insurance Plans
(ULIPs), Term Insurance, Child Plans, Retirement Plans, Critical Illness Plans
About Policybazaar:
• Headquarters: Gurugram, Haryana, India
• Founded: 2008
• CEO: Sarbvir Singh

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 Important Monthly Current Affairs Capsule – February 2025

• Subsidiaries: Policybazaar Insurance Brokers, Policybazaar Fintech, Policybazaar.com,

Paisabazaar.com
• Key Products: Life Insurance, Health Insurance, Motor Insurance, Travel Insurance, Home
Insurance, Financial Products, Loans, Credit Cards, Mutual Funds

National Bank for Agriculture and Rural Development (NABARD) and Palladium’s Export Pathshala
Empowers Odisha’s Farmer Producer Organizations for Global Agri-Trade
• The Export Pathshala workshop aimed at enhancing agri and allied exports through Farmer
Producer Organizations (FPOs) was organized by National Bank for Agriculture and Rural
Development (NABARD) in collaboration with Palladium Consulting India Private Limited
(PCIPL).
• The workshop provided training on export procedures, quality compliance, and market linkages,
with a focus on fruits, vegetables, and spices exports from Odisha.
• Participants included policymakers, financial institutions, exporters, FPOs, and industry experts.
About NABARD:
• It is an All India Development Financial Institution (DFI) and an apex Supervisory Body for overall
supervision of Regional Rural Banks, State Cooperative Banks and District Central Cooperative
Banks in India.
• Headquarters: Mumbai, Maharashtra
• Founded: July 12, 1982 by the Government of India
• Chairman: Shaji K V

Easebuzz Secures Reserve Bank of India’s License for Online Payment Aggregation
• Easebuzz, a full-stack payment solutions provider, has received final authorization from the
Reserve Bank of India (RBI) to operate as an Online Payment Aggregator (PA) under the
Payment and Settlement Systems Act, 2007.
• This approval enables Easebuzz to continue facilitating digital payments for businesses across
sectors like eCommerce, Education, Real Estate, and Travel & Tourism.
• Easebuzz joins a select group of approved payment aggregators in India, authorized under RBI’s
regulatory framework.

Securities and Exchange Board of India proposes new framework to handle unclaimed funds, securities

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 Important Monthly Current Affairs Capsule – February 2025

• The Securities and Exchange Board of India (SEBI) has proposed a new framework to address
unclaimed funds and securities lying with stock brokers to protect investors' interests.
• As of January 31, the total value of unclaimed funds had reached ₹323 crore, while unclaimed
securities were valued at ₹182 crore.
• Unclaimed securities arise due to incomplete or incorrect demat account details or the non-
traceability of clients, legal heirs, or nominees.
About SEBI:
• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

Union Bank, Bank of India Update External Benchmark Lending Rates After Reserve Bank of India
Repo Rate Adjustment
• Public-sector lender Union Bank of India has revised its External Benchmark Lending Rate
(EBLR) to 9.0% from February 11, 2025.
• This follows Reserve Bank of India's decision to reduce policy repo rate by 25 basis points to
6.25% on February 07, 2025.
• Another Mumbai-based lender Bank of India has revised its repo-based lending rate (RBLR) to
9.10% (repo rate - 6.25% plus mark up of 2.85%).

RESERVE BANK OF INDIA IMPOSES RS 35.60 LAKH PENALTY ON FEDERAL BANK AND KARUR
VYSYA BANK FOR NON-COMPLIANCE WITH DIRECTIONS
• Reserve Bank of India (RBI) imposed a penalty of Rs 35.60 lakh on Federal Bank Ltd and Karur
Vysya Bank Ltd for non-compliance with RBI directions.
• Federal Bank received the highest penalty of Rs 27.30 lakh for non-compliance with directions on
interest rates of deposits.
• A statutory inspection by RBI revealed that Federal Bank opened certain savings deposit
accounts in the name of ineligible entities.
• Karur Vysya Bank was fined Rs 8.30 lakh for failing to comply with directions regarding loan
systems for bank credit delivery.

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 Important Monthly Current Affairs Capsule – February 2025

About Federal Bank:

• Founded: 1931
• Headquarters: Aluva, Kerala, India
• Managing Director & CEO: KVS Manian
• Tagline: "Your Perfect Banking Partner"
About Karur Vysya Bank:
• Founded: 1916
• Headquarters: Karur, Tamil Nadu, India
• Managing Director & CEO: B. Ramesh Babu
• Tagline: "Smart Way to Bank"

RESERVE BANK OF INDIA TO INJECT RS 2.5 LAKH CRORE TO ENHANCE LIQUIDITY IN BANKING
SYSTEM
• Reserve Bank of India injects Rs 2,50,000 crore to enhance banking system liquidity through a
Variable Rate Repo (VRR) auction.
• The Rs 2,50,000 crore amount was decided based on an assessment of liquidity conditions.
• Daily VRR auctions will continue in Mumbai on all working days, with reversal occurring on the
next working day until further notice.
• RBI Governor Sanjay Malhotra assured that the central bank is committed to providing sufficient
liquidity and will take steps to ensure durable liquidity.

India’s retail inflation eases to 4.3% in January 2025; industrial growth slows to 3.2% in December 2024
• Retail inflation fell to 4.3% in January 2025, a 91 basis points (bps) drop from December 2024.
• This is a five-month low, primarily due to a sharp decline in vegetable prices.
• Economists suggest this could create scope for another rate cut by the RBI in April.
• Food inflation dropped by 237 bps in January, reaching its lowest level since August 2024.

Securities and Exchange Board of India Proposes Stricter Margin Pledge Rules to Prevent Broker
Misuse
• The Securities and Exchange Board of India (SEBI) has proposed amendments to the margin
pledge system to enhance transparency and prevent misuse of clients’ securities.
• The market regulator has invited public feedback on the draft circular by March 4, 2025.

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 Important Monthly Current Affairs Capsule – February 2025

• SEBI identified concerns where some brokers do not sell client securities invoked under the
margin pledge system on the same day, leading to accumulation in demat accounts and potential
misuse.
• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

Securities and Exchange Board of India launches Mutual Fund Investment Tracing and Retrieval
Assistant (MITRA) to help investors trace inactive mutual fund folios
• The Securities and Exchange Board of India (SEBI), the market regulator, has launched the
Mutual Fund Investment Tracing and Retrieval Assistant (MITRA) platform to help investors trace
inactive mutual fund folios.
• The platform will be managed by Computer Age Management Services Limited (CAMS) and
KFIN Technologies Limited as agents of Asset Management Companies (AMCs).
• It aims to help investors identify overlooked investments and assist legal heirs in claiming
rightful investments.

Reserve Bank of India (RBI) allows Kotak Mahindra Bank to issue fresh credit cards
• The Reserve Bank of India (RBI) on February 12, 2025 lifted the restrictions on Kotak Mahindra
Bank, allowing it to issue new credit cards and onboard new customers through its website and
mobile app, nearly 10 months after an embargo was imposed on it.
• The restrictions were imposed on April 24, 2024, under Section 35A of the Banking Regulation
Act, 1949, due to IT and cybersecurity concerns.
• RBI’s 2022-23 IT Examination found serious deficiencies in areas such as IT inventory
management, patch and change management, user access management, vendor risk
management, data security, and disaster recovery.
About Kotak Mahindra Bank:
• Founded: 2003
• Headquarters: Mumbai, Maharashtra, India
• Managing Director & CEO: Ashok Vaswani

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 Important Monthly Current Affairs Capsule – February 2025

• Tagline: Let’s Make Money Simple

• Merger: ING Vysya Bank merged with Kotak Mahindra Bank in 2015

Shriram Finance Shares in Focus; Raises $500 Million Through SACE External Commercial Borrowing
Loan
• Shriram Finance Limited (SFL) has raised a $500 million loan through SACE, Italy’s export credit
agency, making it the first Indian NBFC to secure such funding.
• The 10-year External Commercial Borrowing (ECB) facility will be used to finance new and used
Italian vehicles under SFL’s Social Finance Framework.
• The loan was arranged with support from HSBC, Deutsche Bank, KfW IPEX-Bank, ING Bank,
and J.P. Morgan, highlighting confidence in SFL’s financial strength.
Reserve Bank of India Set to Launch ₹50 Denomination Banknotes with Updated Signature
• The Reserve Bank of India (RBI) will soon release ₹50 denomination banknotes in the Mahatma
Gandhi (New) Series with the signature of newly appointed Governor Sanjay Malhotra.
• No Change in Design: The design of the new ₹50 notes will remain identical to the existing notes
in the Mahatma Gandhi (New) Series.
• Legal Tender Status: All previously issued ₹50 banknotes by the RBI will continue to be legal
tender.
About RBI :
• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Sanjay Malhotra

Small Finance Banks get Reserve Bank of India’s nod to provide credit lines on Unified Payments
Interface (UPI)
• The Reserve Bank of India (RBI) has expanded the scope of Unified Payments Interface (UPI) by
allowing transactions using pre-sanctioned credit lines at Small Finance Banks (SFBs), enabling
customers to use pre-approved credit lines for UPI transactions.
• Eligible Payment Accounts: Savings accounts, overdraft accounts, prepaid wallets, credit cards,
and now credit lines can be linked to UPI.

Government Announces ₹100 Special Coin in Tribute to Mohammed Rafi’s Legacy

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 Important Monthly Current Affairs Capsule – February 2025

• To celebrate the centenary of legendary playback singer Mohammed Rafi, the Government will
issue a ₹100 commemorative coin.
• The coin, though legal tender, will not be circulated but can be sourced from specified agencies.

Small Industries Development Bank of India and Agence Française de Développement, France ink
$100 million deal to boost green finance for Indian MSMEs
• Small Industries Development Bank of India (Sidbi) and Agence Française de Développement
(AFD), France signed a USD 100 million credit facility agreement (CFA) to support Green
Finance solutions for Indian MSMEs.
• The agreement aims to help MSMEs transition to energy-efficient and climate-friendly business
models.
• AFD will provide a USD 100 million credit line to SIDBI for affordable loans in renewable energy
and sustainability projects.
• This initiative aligns with India's goal of achieving carbon neutrality by 2070.
About Small Industries Development Bank of India (SIDBI):
• It is an All India Development Financial Institution (DFI) focused on financing and developing
Micro, Small, and Medium Enterprises (MSMEs) in India.
• Headquarters: Lucknow, Uttar Pradesh
• Founded: April 2, 1990, by the Government of India
• Chairman & Managing Director: Shri Manoj Mittal

Ashoka University & Axis Bank Signs Memorandum of Understanding to Strengthen Interdisciplinary
Research with INR 104 Crore Investment
● Ashoka University has partnered with Axis Bank to strengthen its PhD, Post-Doctoral, and
Research
● The agreement signed is titled “Co-building Interdisciplinary Sciences and Research at Ashoka
University.”
● The collaboration aims to develop advanced science laboratories for Neurosciences, Behavioural
Studies, and Physics Research.
● Axis Bank will contribute INR 104 Crore through a CSR grant over the next four years.
● The funding will enhance research infrastructure, provide competitive fellowships, and
support research grants.
● Scholars will benefit from financial support, allowing them to focus entirely on research.

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 Important Monthly Current Affairs Capsule – February 2025

Securities and Exchange Board of India seeks more control over WhatsApp, Telegram to keep
unauthorised financial advice in check, wants access to call records
● Securities and Exchange Board of India (SEBI) has approached the government seeking
more powers to act against unauthorised financial advisors on social media
platforms like WhatsApp and Telegram.
● The regulator seeks the authority to take down messages, links, and groups violating securities
regulations.
● SEBI also wants access to call and message data records for investigations into market
violations such as front running and insider trading.
● This is SEBI’s second request, with the first made in 2022, still pending approval.
● Social media companies, including Meta and WhatsApp, have denied SEBI access, citing current
IT laws that do not classify SEBI as an ‘authorised agency.’
About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.
Indian Banks’ margins to fall by 10 basis points in FY 26 due to rate cuts: Fitch Ratings
● Indian banks’ net interest margins (NIMs) will likely decline by 10 basis points on average in
2025-26 due to the Reserve Bank of India’s interest rate cuts, but the drop will be cushioned by
the central bank easing liquidity conditions, Fitch Ratings stated.
Key Highlights:
● Liquidity easing by RBI will help cushion the impact of lower NIMs.
● Repo-linked loans such as housing and small business loans will be immediately affected by the
rate cut.
● SBI’s NIM fell by 19 bps to 3.13%, while HDFC Bank’s NIM remained flat at 3.43% but was 7 bps
lower than Q2.
● Non-bank financial institutions (NBFCs) will also face NIM pressure, especially in urban
housing and commercial loans where they compete with banks.
● 40% of all loans are linked to the repo rate, and seven banks, including PNB, BoB, and Union
Bank, have already lowered their repo-linked loan rates.

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 Important Monthly Current Affairs Capsule – February 2025

● Banks’ NIMs averaged 3.5% from April to September 2024, down from 3.6% in FY24, partly due
to higher deposit costs.
● Fitch Ratings predicts NIMs will trend toward 3% amid slower loan growth and lower yields.
About Fitch Ratings:
● Founded: 1913 by John Knowles Fitch
● Headquarters: New York, USA & London, UK (Dual HQ)
● Subsidiary of: Hearst Communications (100% ownership)
● CEO: Paul Taylor
● President: Ian Linnell
India’s Reserve Bank of India imposes business curbs at New India Co-operative Bank on supervisory
concerns
● Reserve Bank of India (RBI) Bars New India Co-operative Bank from issuing new loans and
suspends deposit withdrawals for six months due to supervisory concerns and liquidity issues.
● The bank cannot make investments or borrow funds as per RBI’s directive.
● Losses in the last two fiscal years:
o ₹227.8 million loss in FY24
o ₹307.5 million loss in FY23
● Bank’s financial position:
o Advances fell from ₹13.30 billion (FY23) to ₹11.75 billion (FY24).
o Deposits rose from ₹24.06 billion (FY23) to ₹24.36 billion (FY24).
● RBI clarified that the bank’s license is not cancelled and it will monitor the situation for further
action.
● Past precedent: In 2019, RBI took similar action against Punjab and Maharashtra Co-operative
Bank (PMC Bank) due to financial irregularities, eventually allowing Centrum Financial
Services to take over the lender.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra
Securities and Exchange Board of India proposes rules to beef up ESG Rating Providers (ERPs)
framework; aims to enhance transparency
● The Securities and Exchange Board of India (SEBI) has proposed new measures to strengthen
the regulatory framework for ESG Rating Providers (ERPs), aiming to

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 Important Monthly Current Affairs Capsule – February 2025

enhance transparency and accountability.

Key Highlights:
● The proposals focus on key areas such as the withdrawal of ESG ratings and the disclosure of
rating rationale.
● ERPs provide ESG ratings covering environmental, social, and governance Last
year, SEBI made it mandatory for such entities to register and obtain an ERP license.
● In a discussion paper, SEBI has outlined conditions for ERPs to withdraw ratings under both
the subscriber-pays and issuer-pays
● Under the subscriber-pays model, SEBI has proposed that ERPs can withdraw a rating if there
are no subscribers for it.
● However, if the rated entity or instrument is part of a rating package, such as the Nifty 50 index,
with existing subscribers, the rating may not be withdrawn.
India’s leading export financing institute, EXIM Bank to Fund Vietnam’s Procurement of Guard Boats
and Patrol Vessels with USD 300 Million Line of Credit
● The Export-Import Bank of India (Exim Bank) will provide lines of credit (LoC) totaling USD 300
million to Vietnam for procuring high-speed guard boats and offshore patrol vessels (OPVs).
● A line of credit (LOC) is a pre-approved borrowing limit that a customer can use to access funds
from a bank or financial institution.
Key Highlights:
● The Exim Bank entered into an agreement on July 31, 2024, with the Government of the Socialist
Republic of Vietnam (GO-VNM) for an India-supported LoC of USD 180 million to procure four
OPVs, the Reserve Bank of India (RBI)
● Additionally, the bank signed another agreement with GO-VNM for an LoC of USD 120 million to
procure high-speed guard boats, according to an RBI circular.
● Both agreements are effective from January 20, 2025, and the last date for disbursement is 60
months after the scheduled completion date of the project.
● The export of eligible goods and services from India will be subject to the Foreign Trade Policy.
About EXIM Bank:
● Founded Year: 1982
● Headquarters: Mumbai, Maharashtra, India
● CEO: Harsha Bangari
New Unified Payments Interface (UPI) rule on automatic acceptance, rejection of chargebacks from
February 15, 2025

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 Important Monthly Current Affairs Capsule – February 2025

● The National Payments Corporation of India (NPCI) has introduced new guidelines for UPI
chargebacks, effective February 15.
● Definition of Chargeback: A chargeback is the reversal of a completed Unified Payments
Interface (UPI) transaction due to disputes, fraud, or technical errors, initiated by the payer’s
bank.
Key Highlights:
● Issue with Current Process:
o Remitting banks initiate chargebacks early (T+0), often before beneficiary banks complete
reconciliation.
o If a return request (RET) is raised later by the beneficiary bank, it might be rejected if a
chargeback is already initiated.
o This has led to automatic chargeback acceptance and RBI penalties for certain banks.
● Revised Dispute Resolution Process:
o Chargebacks will now be automatically accepted or rejected based on Transaction Credit
Confirmation (TCC) and RET in the next settlement cycle.
o The new system ensures beneficiary banks get sufficient time to process returns before
chargebacks are finalized.
● Implementation:
o The auto acceptance/rejection feature will be activated in the UPI Dispute Resolution
System (URCS) from February 15.
o Applies only to bulk upload options and Unified Dispute Resolution Interface (UDIR), not
front-end dispute resolutions.
● Impact on Banks:
o UPI member banks must ensure compliance and train officials on the new guidelines.
o The updated mechanism is expected to enhance efficiency, reduce penalties, and
streamline transaction reconciliations.
● UPI Growth: UPI transactions hit 16.73 billion in December 2024, an 8% increase from
November, highlighting the system’s growing adoption.
About NPCI:
● Headquarters: Mumbai, Maharashtra, India
● Founded: 2008
● CEO: Dilip Asbe
● Key Initiatives: Unified Payments Interface (UPI), Immediate Payment Service (IMPS), RuPay

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 Important Monthly Current Affairs Capsule – February 2025

(domestic card payment network), Bharat Bill Payment System (BBPS), Aadhaar Enabled
Payment System (AePS)
Leading DataTech Non-Banking Financial Company, UGRO Capital partners with Dutch entrepreneurial
development bank, FMO, securing INR 2,600 million in Non-Convertible Debentures (NCDs)
● UGRO Capital, a leading DataTech NBFC focused on MSME lending, announced its latest
strategic financing collaboration with FMO.
● UGRO Capital has raised ~INR 2,600 million through Non-Convertible Debentures (NCDs).
● Purpose of Funds: The proceeds will support women empowerment, territorial inequality
reduction, and youth empowerment
● Investor Participation: The INR-denominated NCDs were fully subscribed by FMO, highlighting its
commitment to inclusive and sustainable prosperity.
● Previous NCD Issuance: In December 2023, UGRO Capital raised USD 30 million (~INR 2,490
million) in an unlisted NCD issuance, primarily for green financing.
About UGRO:
● UGRO Capital Limited is a DataTech-focused Non-Banking Financial Company (NBFC)
specializing in financing Micro, Small, and Medium Enterprises (MSMEs) in India.
● The company was founded in 2018 by Mr. Shachindra Nath, who serves as the Founder and
Managing Director.
● UGRO Capital is headquartered in Mumbai, Maharashtra.
Reserve Bank of India imposes monetary penalty on Shriram Finance, Ujjivan Small Finance Bank and
Nainital Bank
● The Reserve Bank of India (RBI) has imposed monetary penalties on Shriram Finance, Ujjivan
Small Finance Bank, and Nainital Bank for non-compliance with regulatory norms.
● Penalty on Shriram Finance: A fine of ₹5.80 lakh was levied for failing to implement a system for
periodic review of risk categorization of accounts, among other issues.
● Penalty on Ujjivan Small Finance Bank: The bank received a penalty of ₹6.70 lakh on Ujjivan
Small Finance Bank Limited for non-compliance with certain directions issued by RBI on ‘Loans
and Advances – Statutory and Other Restrictions’.
● Penalty on Nainital Bank: A penalty of ₹61.40 lakh was imposed due to non-compliance with
directives on interest rates for advances and customer service.
● These 3 penalties have been imposed in exercise of powers conferred on RBI under the
provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
Bank of Maharashtra gets Reserve Bank of India go-ahead to set up branch in GIFT City

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 Important Monthly Current Affairs Capsule – February 2025

● The Bank of Maharashtra (BoM) has received approval from the Reserve Bank of India (RBI) to
establish an International Financial Services Centre (IFSC) Banking Unit at GIFT City in
Gandhinagar, Gujarat.
Key Highlights:
● This will be BoM’s first international branch, enabling offshore banking operations from within
India.
● The IFSC Banking Unit will provide BoM access to international financial markets, enabling the
bank to offer a comprehensive range of products, including External Commercial Borrowings
(ECBs), to clients with foreign currency funding requirements.
● GIFT City, India’s first IFSC, aims to transform the nation’s financial landscape by offering world-
class banking services domestically, reducing reliance on offshore financial hubs.
● The center has evolved into a hub for fintech innovation and global investments, attracting
institutions across banking, education, and technology sectors.
About Bank of Maharashtra:
● Headquarters: Pune, Maharashtra
● Founded: September 16, 1935
● MD & CEO: Nidhu Saxena
● Tagline: “One Family One Bank”
INDIA POST PAYMENTS BANK BRINGS DIGITAL BANKING TO MILLIONS OF DEVOTEES AT
MAHAKUMBH 2025
● India Post Payments Bank is providing comprehensive banking services for millions of pilgrims at
the Mahakumbh 2025, ensuring convenience and security for all financial transactions.
● Service counters, mobile banking units, and customer assistance kiosks have been set up at five
key locations across Mahakumbh.
Key Highlights:
● IPPB’s Daak Sevaks are providing doorstep banking, enabling devotees to withdraw cash from
Aadhaar-linked accounts through Aadhaar ATMs (AePS).
● Devotees can also access a variety of banking services by calling
● IPPB is fostering a cashless ecosystem by enabling local vendors and small businesses to
accept digital payments via DakPay QR Cards, supporting the government’s Digital India vision.
● IPPB has launched awareness campaigns to educate pilgrims and vendors about its services.
About India Post Payments Bank (IPPB):
● Established: IPPB was launched on September 1, 2018, under the Department of Posts, Ministry

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 Important Monthly Current Affairs Capsule – February 2025

of Communication, and is fully owned by the Government of India.

● Headquarters : New Delhi, India
● Vision: To be the most accessible, affordable, and trusted bank for common people in India,
especially targeting the unbanked and underbanked populations.
● The IPPB, is a division of India Post that is under the ownership of the Department of Post, a
department under the Ministry of Communications of the Government of India.
CheQ Launches Wisor: India’s First Artificial Intelligence (AI) Credit Card Expert
● CheQ’s launch of Wisor, India’s first AI-powered credit card expert, is a significant step forward in
simplifying and streamlining credit card management for Indian users.
● Wisor provides a Q&A chat interface where users can instantly receive human-like responses to
their credit card inquiries, eliminating the need for users to search through various bank websites
or forums.
● Wisor also aggregates spending data across multiple credit cards and merchants in one view,
making it easier for users to track and analyze their expenses month-over-month.
● Additionally, Wisor centralizes credit card rewards, including points, cashback, and benefits,
offering personalized advice on how to maximize these rewards, ensuring users don’t miss out
on opportunities.
HDFC Life Announces Corporate Agency Tie-up With CARS24 Financial Services Private Limited.
● HDFC Life has partnered with CARS24 Financial Services Private. Limited. in a corporate
agency tie-up, aiming to provide life insurance solutions to CARS24 customers.
Key Highlights:
● CARS24 Financial Services Private Limited (“CARS24 Financial Services”) is a professionally
managed Non-Banking Financial Company (“NBFC”) registered with the Reserve Bank of India
and with IRDAI as an Insurance Corporate Agent.
● The Company is a part of CARS24 group and offers a variety of vehicle financing solutions to
customers.
● INSURE24, a major milestone for CARS24, is set to transform the digital insurance landscape for
India’s rapidly growing online consumer base.
● This partnership will enable CARS24 Financial Services Pvt. Ltd. to distribute products of HDFC
Life to existing and future customers of CARS24.
About HDFC Life:
● Headquarters: Mumbai, Maharashtra, India
● Founded: 2000

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 Important Monthly Current Affairs Capsule – February 2025

● CEO: Vibha Padalkar

● Subsidiaries: HDFC Life Insurance, HDFC Pension Management, HDFC Life Asset Management
● Key Products: Life Insurance, Health Insurance, Pension Plans, Unit-Linked Insurance Plans
(ULIPs), Term Insurance, Child Plans, Retirement Plans, Critical Illness Plans
Reserve Bank of India Cancels Non-Banking Finance Company Registration Of X10 Financial Services
Limited
● The Reserve Bank of India (RBI)has cancelled the Certificate of Registration (CoR) of X10
Financial Services Ltd (formerly Abhishek Securities Ltd) under Section 45-IA (6) of the RBI Act,
1934, due to serious violations in its lending practices, particularly in digital lending operations.
Key Highlights:
● X10 Financial Services, based in Mumbai, was issued its CoR on 2 June 2015.
● Over the years, it outsourced key functions of its digital lending operations to various service
providers, including Wecash Technology Pvt Ltd (WeRupee) and Mobicred Technology Pvt Ltd
(Cashcred).
● RBI’s investigation revealed significant lapses in governance and compliance, particularly in the
outsourcing of critical functions such as credit appraisal, interest rate setting, and KYC
verification.
● These functions were outsourced without adequate due diligence, raising concerns about
the integrity of its operations.
What is CoR?
● A “Certificate of Registration” (COR) is an official document issued by a regulatory body that
confirms a business or entity is legally registered to operate within a specific jurisdiction,
essentially proving its legitimacy and allowing it to conduct business activities in that area.
● It often serves as proof of compliance with registration requirements and can be necessary for
accessing certain services or obtaining licenses.
PNB MetLife Partners with Truhome Finance to Offer Credit Life Insurance to Home Loan Customers
● PNB MetLife India Insurance Company Limitedhas announced a strategic
partnership with Truhome Finance (formerly Shriram Housing Finance Limited) to offer Group
Credit Life Insurance to Truhome Finance’s home loan customers.
Key Highlights:
● This collaboration aligns with PNB MetLife’s mission, Milkar Life Aage Badhein, and underscores
its commitment to expanding reach and promoting financial inclusion.
● The insurance solutions will be available across 165 Truhome Finance branches in 17 states,

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 Important Monthly Current Affairs Capsule – February 2025

providing financial protection to homeowners and their families by covering outstanding loan
liabilities in unforeseen circumstances.
● By integrating Credit Life solutions with Truhome’s home loan offerings, the collaboration aims to
protect borrowers’ liabilities and support their home ownership aspirations, contributing to the
vision of ‘Insurance for All by 2047’.
About PNB MetLife:
● Headquarters: Mumbai, Maharashtra, India
● Founded: 2001
● Joint Venture Partners: Punjab National Bank (PNB), MetLife International
● Managing Director & CEO: Sameer Bansal
Liberty General Insurance & Maruti Suzuki Insurance Broking Boost Insurance Awareness in Punjab’s
Gram Panchayats
● Liberty General Insurance, in collaboration with Maruti Suzuki Insurance Broking Pvt Ltd, is
committed to enhancing insurance awareness and accessibility through its ‘Bima Prachaar Aur
Prasaar’ initiative.
● This program promotes financial literacy and the significance of insurance protection in
both urban and rural regions, aligning with the Insurance Regulatory and Development Authority
of India’s (IRDAI) vision of ‘Insurance for All by 2047’.
● As the non-life insurer for Delhi, Liberty is extending its outreach to underserved communities
in Punjab, such as in Gram Panchayats, with programs like free vehicle inspections, eye check-
ups, and educational sessions on insurance.
● This initiative supports IRDAI’s rural and social sector mandates, ensuring that even remote
communities benefit from essential insurance solutions.
About Liberty General Insurance:
● Headquarters: Mumbai, Maharashtra, India
● Founded: 2013
● Joint Venture Partners: Liberty Citystate Holdings PTE Ltd (Singapore), and the Dharmani D.
Group (India)
● Managing Director & CEO: Parag Ved
Insurance Regulatory and Development Authority of India Unveils ‘Bima Trinity’ Plan, Reviews
Insurance Sector at 9th Bima Manthan
● The Insurance Regulatory and Development Authority of India (IRDAI) held the 9th edition of
Bima Manthan, its quarterly review meeting with insurance company CEOs, on February 13-14.

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 Important Monthly Current Affairs Capsule – February 2025

● The discussions focused on the performance of the life and general insurance industry, the
progress of the state insurance plan, distribution reforms, and enhancing disclosure and
transparency.
Key Highlights:
● A key highlight of the meeting was the unveiling of Bima Trinity, a transformative initiative aimed
at enhancing accessibility, affordability, and efficiency in the insurance sector.
● Bima Trinity consists of 3 key components
● Bima Sugam: A unified digital marketplace for selling, servicing, and claiming insurance policies
across insurers.
● Bima Vistaar: A first-of-its-kind composite insurance product covering life, accident, property, and
hospitalisation.
● Bima Vahaak: A women-centric, localised insurance distribution model to boost insurance
penetration.
About IRDAI:
● Headquarters (HQ): Hyderabad, Telangana, India
● Chairperson: Debasish Panda (as of October 2023)
● Founded: 1999
Tata Capital to issue green bonds, Non Convertible Debentures to raise Rs 15,000 crore
● Tata Capital plans to raise ₹15,000 crore ($1.72 billion) through debt, including green bonds and
non-convertible debentures (NCDs).
● The board approved the plan on February 6th, 2025.
● Purpose of Funds:The proceeds will be used for on-lending purposes and business operations.
● Funds from green bonds will specifically support projects related to renewable energy, energy
efficiency, and clean transportation.
● Issuance Breakdown:₹10,000 crore will be raised through green bonds and market-linked NCDs
via private placement.
● ₹5,000 crore will be raised through secured redeemable NCDs with a liquidity window facility.
● RBI’s Deadline:Tata Capital is facing the Reserve Bank of India’s (RBI) deadline to have its
shares listed by September this year.
About Green bonds and NCDs:
● Green bonds are a type of fixed-income debt instrument that funds environmental projects,
while non-convertible debentures (NCDs) are a type of fixed-income investment that cannot be
converted to shares.

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 Important Monthly Current Affairs Capsule – February 2025

About Tata Capital:

● Tata Capital is an ‘Upper Layer’ NBFC (Non-Banking Financial Company) as per the RBI, subject
to higher regulatory requirements.
● Tata Sons holds 93% of Tata Capital’s shares, and it is unlikely to dilute its stake below 75% in
the planned IPO.
● Tata Capital has merged with Tata Motors Finance Limited (TMFL).
● TMF Holdings, a core investment company owned by Tata Motors, will hold a 4.7% stake in the
merged entity after the merger.
Milestone in Digital Payments: PhonePe Rolls Out Device Tokenization for Merchants
● PhonePe becomes the first to offer this device tokenization solution to all merchants, making it a
significant milestone in the payment industry.
● Consumers can tokenize their cards in the PhonePe app and use card tokens for a variety of
services, such as Bill Payments, Recharges, Travel Bookings, Insurance Purchases, and Online
Merchants.
About PhonePe:
● Headquarters: Bengaluru, Karnataka, India
● Founded: 2015
● CEO: Sameer Nigam
● Subsidiaries: PhonePe Payments, PhonePe for Business, PhonePe Insurance, PhonePe Wealth,
PhonePe Bharat BillPay
● Key Products: PhonePe App, PhonePe Wallet, UPI Payments, PhonePe for Business, PhonePe
Insurance, PhonePe Gold, PhonePe Bharat BillPay
South Indian Bank Launches ‘SIB Quick FD’ for Seamless Digital Investment
● South Indian Bank has rolled out a new service, ‘SIB Quick FD’, which allows individuals to start
a fixed deposit without needing to open a savings account with the bank.
● This new feature provides a hassle-free digital banking experience for both existing customers
and non-customers alike.
● The process is entirely paperless, and users can make their fixed deposits via UPI transactions.
● All that is required for documentation is the individual’s PAN and Aadhaar details.
● With no need for traditional paperwork or in-person visits, the service promises to be a
convenient and accessible way for anyone to invest in fixed deposits.
About South Indian Bank:
● Founded Year: 1929

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 Important Monthly Current Affairs Capsule – February 2025

● Headquarters: Thrissur, Kerala, India

● CEO: P.R. Seshadri
● Slogan: “Experience Next-Gen Banking”
New Pension Scheme by Life Insurance Corporation: ‘Smart Pension’ Plan Goes Live from Feb 18,
2025
● Life Insurance Corporation (LIC) has launched the ‘Smart Pension’ plan, effective from February
18, 2025.
● It is a Non-Participating (Non-Par), Non-Linked, Individual/Group, Savings, Immediate Annuity
Plan.
Key Highlights:
● The plan is tailored specifically for the domestic market and aims to meet the growing demand for
pension and retirement savings in India.
● Strategic Importance: LIC expects this product to strengthen its leadership position in India’s
growing pension and retirement savings market.
● In the 1st nine months of FY25, the share of non-par in the individual Annualised Premium
Equivaent of LIC was 27.68%.
About Life Insurance Corporation of India (LIC):
● Headquarters (HQ): Mumbai, Maharashtra, India
● Chairman: M.R. Kumar
● Founded: 1956
Insurance Regulatory and. Development Authority of India, permits one-time UPI mandate for buying
life, and health cover
● The Insurance Regulatory and Development Authority of India (IRDAI) has permitted a one-time
UPI mandate for blocking premium amounts for life and health insurance policies.
● Previously, no premium deposit/proposal deposit was required while submitting a proposal form,
except for policies issued based on a declaration of good health where coverage starts
immediately upon payment.
Key Highlights :
● Insurers must obtain explicit consent from the policyholder before deducting the premium
amount from their bank account.
● Based on insurer requests, UPI One Time Mandate (OTM) has been enabled to streamline
premium payments and ensure smooth transactions.
● The UPI mandate allows customers to block funds in their bank accounts for premium payments,

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 Important Monthly Current Affairs Capsule – February 2025

ensuring funds are available while delaying actual debit.

● Under the Bima Applications supported by Blocked Amount (Bima – ASBA) system, funds are
transferred only when the insurance policy is issued.
● The insurer blocks the premium amount. If the proposal is accepted, the amount is debited. If
the proposal is rejected, the blocked amount is unblocked and returned to the customer.
● Insurers must offer Bima-ASBA as an option for policyholders purchasing life and health
insurance policies.
● The UPI mandate facility will be an optional mode of payment, available alongside existing
payment methods.
Karnataka Bank launches 2 products to mark its 101st Founders’ Day on February 18, 2025
● Karnataka Bank launched two new banking products to commemorate its 101st Founders’ Day.
About the 2 new Banking Products :
● KBL Stri is a specialized savings bank account designed for women, catering to homemakers,
professionals, and entrepreneurs.
● KBL One Family Banking Programme is a solution that links family members under a single ID,
offering shared privileges, tailored benefits, and seamless banking access.
● Madhusudan Sai, Spiritual Leader, stressed the importance of fostering strong customer
relationships.
● With a strong capital base and strategic investments in digital transformation, Karnataka
Bank aims to stay resilient and relevant in modern banking.
● During the event, the dignitaries released 101 symbol lapel pins, launched new products, and
handed over CSR commitment letters to three beneficiaries.
About Karnataka Bank:
● Founded: 1924
● Headquarters: Mangaluru, Karnataka, India
● Managing Director & CEO: Srikrishnan Hari Hara Sarma
● Tagline: “Your Family Bank, Across India”
Securities and Exchange Board of India proposes mandatory SIM-binding for trading accounts to curb
unauthorised transactions
● The Securities and Exchange Board of India (SEBI) has proposed a SIM-binding authentication
mechanism to enhance security in stock market transactions and prevent unauthorized access to
investors’ trading and demat accounts.
● The new system, inspired by Unified Payments Interface (UPI) authentication, ensures that

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 Important Monthly Current Affairs Capsule – February 2025

a trading account can only be accessed if the unique client code (UCC) matches the registered
mobile device and SIM.
● This significantly reduces the risk of fraudulent activities.
● SEBI has released a draft consultation paper and invited public feedback until March 11, 2025.
Life Insurance Corporation of India Launches Smart Pension Plan with Multiple Annuity Options
● Life Insurance Corporation of India (LIC) has launched a single-premium smart pension
plan offering various annuity options for Single Life and Joint Life
● The plan was unveiled by Financial Services Secretary M Nagaraju and LIC CEO & MD
Siddhartha Mohanty, in the presence of senior officials from the finance ministry and LIC.
● The Non-Par and Non-Linked plan includes liquidity options for partial or full withdrawal as per
policy terms.
Key features of the plan:
● Minimum Purchase Price: ₹1,00,000, with incentives for higher purchase amounts.
● Flexible annuity payment modes: Yearly, Half-yearly, Quarterly, or Monthly.
● Special Feature: Immediate annuity option for NPS subscribers.
● Death Benefit Options: Lump sum, annuitisation of the benefit, installment payments, liquidity
option, advanced annuity, or annuity accumulation.
Asian Development Bank plans 50% expansion to boost development across Asia-Pacific
● Asian Development Bank (ADB) has approved a plan to scale up its operations by 50% over the
next decade, leveraging its existing capital base to enhance development impact across Asia and
the Pacific.
● The Capital Utilization Plan (CUP) outlines a pathway to increase ADB’s annual financing
commitments from $24 billion in 2024 to over $36 billion by 2034.
● ADB projects a steady increase in net income over the next decade and aims to strategically
invest part of it to help DMCs develop high-quality, bankable projects.
● Nonsovereign operations are expected to rise from 20% to 27% of commitments, while sovereign
operations will expand moderately with a more balanced portfolio.
● ADB also plans to introduce a borrowing facility with financial and non-financial incentives to
boost investments in resilience and sustainability.
About Asian Development Bank (ADB):
● Headquarters: Mandaluyong, Metro Manila, Philippines
● Founded: 1966
● President: Masatsugu Asakawa

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 Important Monthly Current Affairs Capsule – February 2025

● Members: 68 (49 regional and 19 non-regional)

Reserve Bank of India Corrects Hindi Translation of Ombudsman Scheme to Avoid Conflict with Lokpal
Act
● The Reserve Bank of India (RBI) corrected the Hindi translation of its Ombudsman Scheme to
avoid conflict with the Lokpal Act.
● The Lokpal and Lokayuktas Act, 2013 mandates the establishment of Lokpal at the Union
level and Lokayuktas at the State level to investigate corruption allegations against public officials.
● The term “Lokpal” is legally reserved under this Act, which came into force on January 16, 2024.
Key Highlights:
● The Reserve Bank of India (RBI) introduced the Reserve Bank-Integrated Ombudsman Scheme
(RB-IOS), 2021 to handle customer complaints against RBI-regulated entities.
● However, the scheme’s Hindi translation mistakenly used “रिज़र्वबक
ैं –एकीकृ त लोकपाल योजना, 2021”.
● This led to confusion, as “Lokpal” is exclusively designated for anti-corruption bodies under
the 2013 Act.
● To comply with legal provisions, RBI renamed the scheme in Hindi as “रिज़र्वबक
ैं –
एकीकृ त ओम्बड्समैन योजना, 2021”.
● The term “लोकपाल” was replaced with “ओम्बड्समैन” across all official documents.
● This correction ensures clarity and legal accuracy, avoiding any misinterpretation between RBI’s
Ombudsman scheme and the Lokpal Act.
RBIDATA: The Reserve Bank of India’s New Mobile App for Macroeconomic and Financial Statistics
● The Reserve Bank of India (RBI) has introduced RBIDATA, a mobile application designed to
enhance public access to macroeconomic and financial data.
● The app offers a user-friendly interface with interactive visual elements, making complex
economic data more accessible and comprehensible for a wider audience.
● RBIDATA provides access to over 11,000 economic data series covering various aspects
of India’s economy.
● The information is sourced from reliable databases, ensuring authenticity and relevance for users
seeking financial insights.
● The app presents data in a structured manner, allowing users to explore various economic
indicators such as inflation and price indices, banking and monetary statistics, national income
and GDP trends, external trade and balance of payments, and government finance and fiscal
policy data.
● One of the key features of RBIDATA is its interactive graphs and charts, which help

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 Important Monthly Current Affairs Capsule – February 2025

users analyse time-series data effectively.

● Additionally, the app includes a “Banking Outlet Locator,” enabling users to find banking facilities
within a 20-kilometre radius, which is particularly beneficial for individuals and
businesses seeking nearby banking services.
● Beyond India-specific statistics, RBIDATA provides economic data from SAARC (South Asian
Association for Regional Cooperation) countries.
● The inclusion of the “SAARC Finance” link offers a broader perspective on regional economic
trends, fostering cross-border financial awareness.
International Financial Services Authority Notifies New Bullion Market Regulations, 2025
● The International Financial Services Authority (IFSCA) has introduced the IFSCA Bullion Market
Regulations, 2025, replacing the IFSCA (Bullion Exchange) Regulations, 2020.
● These new regulations expand the scope of the bullion market ecosystem in GIFT City, Gujarat,
and introduce key consumer safeguards.
● The name has been changed from Bullion “Exchange” Regulations to Bullion “Market”
Regulations to reflect a broader coverage beyond just the bullion exchange.
● It now includes all market participants involved in the bullion ecosystem.
● IFSCA is empowered to conduct inspections, inquiries, and impose penalties to ensure consumer
interests are safeguarded.
Definition of Key Management Personnel (KMP):
● For the first time, KMP has been defined in Regulation 2(1)(t).
● The definition includes individuals with the ability to influence decisions and those involved
in core business functions.
Insurance Regulatory and Development Authority of India forms 7-member committee to review
insurance sector reforms
● The Insurance Regulatory and Development Authority of India (Irdai) has formed a high-powered
committee led by Dinesh Khara, former State Bank of India (SBI) chairman, to scrutinise various
aspects of the Insurance Act, 1938, and suggest amendments.
● The committee was established as the Indian government prepares to introduce the Insurance
Amendment Bill in Parliament, which proposes 100% foreign direct investment (FDI) in the
insurance sector.
Key Highlights:
● The seven-member panel includes:
● NS Kannan, former MD & CEO of ICICI Prudential Life Insurance

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 Important Monthly Current Affairs Capsule – February 2025

● Girish Radhakrishnan, former CMD of United India Insurance

● Rakesh Joshi, former member of Irdai
● Saurabh Sinha, former executive director of RBI
● Alok Misra, MD & CEO of MFIN
● L Vishwanathan, a legal expert
● The Insurance Act, 1938, was originally passed in British India to regulate the insurance sector,
establishing the legal framework for the industry and leading to the formation of Irdai as the
regulatory authority.
● The Act governs various insurance categories, including life, general, and health insurance, and
allows insurers to appoint agents for business solicitation.
High frequency indicators point at sequential pickup in economic activity: Reserve Bank of India bulletin
● High-frequency indicators like vehicle sales, air traffic, steel consumption, and GST E-way
bills suggest a sequential pickup in activity during H2 2024-25, as per the RBI bulletin for
February.
● The momentum is expected to sustain moving forward, but a strong US dollar could lead to
capital outflows, higher risk premiums, and external vulnerabilities for emerging economies.
● The RBI’s internal models estimate GDP growth at 6.6% in Q4 2024-25, with 2025-26 growth
forecasted at 6.7%, aligning with the government’s estimate of 6.3-6.8%.
● Inflation is projected to ease to 4.2% in the next financial year, though risks from global financial
volatility, energy prices, and adverse weather events
● The Union Budget 2025-26 aims to balance fiscal consolidation and growth, focusing on capital
expenditure (capex) and household income growth.
● A 25 bps repo rate cut by the MPC on February 7, 2025, is expected to boost domestic demand.
Gross domestic product Growth During Current Fiscal Estimated To Be 6.3%: SBI Research
● SBI Research estimates India’s Gross domestic product (GDP) growth at 6.3% for FY25,
assuming no major revisions in Q1 and Q2 growth figures from the National Statistical Office
(NSO).
● This is 10 basis points (bps) lower than NSO’s 6.4% forecast for FY25.
● GDP growth in Q1 and Q2 was 6.7% and 5.4%, respectively, while SBI estimated Q3 growth at
6.2-6.3% based on its ‘nowcasting model’, which analyzes 36 high-frequency indicators.
● 74% of indicators showed acceleration in Q3FY25, up from 71% in Q2FY25.
● Capital expenditure (capex) is improving in Q3FY25, with states showing increasing spending
momentum, which bodes well for future growth.

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 Important Monthly Current Affairs Capsule – February 2025

● IIP manufacturing growth rose from 3.3% in Q2FY25 to 4.3% in Q3FY25, and the SBI Index also
indicates positive momentum.
● Corporate performance improved, with listed firms reporting:
o 2% revenue growth
o 11% EBIDTA growth
o 12% profit after tax (PAT) growth in Q3FY25 vs Q3FY24
● Corporate GVA and EBIDTA margins improved after two quarters of decline.
About State Bank of India (SBI):
● Founded Year: 1955
● Headquarters: Mumbai, Maharashtra, India
● Chairman: Challa Sreenivasulu Setty
● Slogan: “The Banker to Every Indian”
Securities and Exchange Board of India & Bharat InvIT Association may launch data benchmarking
institutes for Infrastructure Investment Trusts by February-end
● Securities and Exchange Board of India (SEBI) and the Bharat InvIT Association (BIA) are
working on setting up dedicated data benchmarking institutes (DBIs) for Infrastructure Investment
Trusts (InvITs) to enhance transparency, accessibility, and informed decision-making for
investors.
Key Highlights:
● Key Players Involved: Financial services firms CAMS, CareEdge, and KFintech, along with
the InvIT association, will roll out three platforms by the end of the month.
● Features of DBIs:
o Centralised repository for listed InvITs’ performance, operational metrics, valuation
standards, and disclosures.
o First phase to include five publicly listed InvITs:
▪ India Grid Infrastructure Trust
▪ Indus Infra Trust
▪ IRB InvIT Fund
▪ Capital Infra Trust
▪ PowerGrid Infrastructure Investment Trust
o Second phase to integrate 16 privately listed trusts over the next few months.
Bank Credit Growth to Non Banking Financial Companies Hits Four-Year Low at 6.7% in 2024: RBI
data

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 Important Monthly Current Affairs Capsule – February 2025

● Bank lending to Non Banking Financial Companies (NBFCs) grew at 6.7% in 2024, compared to
15% in 2023, reaching ₹16.22 lakh crore as of December 2024.
● In absolute terms, bank lending fell to ₹1 lakh crore in 2024 from nearly ₹2 lakh crore in the
previous year, according to RBI data.
● The slowdown was driven by higher funding costs after the RBI raised risk weights on such loans.
Key Highlights:
● In November 2023, RBI increased the risk weight on bank credit to NBFCs by 25 basis points to
125%, making lending costlier and leading banks to become more selective.
● NBFCs are diversifying their funding sources, turning to the domestic capital market (bonds) and
the overseas market (dollar bonds and syndicated loans).
● External Commercial Borrowings (ECBs) reached a five-year high in 2024, with ₹3.64 lakh crore
raised.
● Shriram Finance raised $1.277 billion, while Muthoot Finance raised $400 million through
secured notes.
● ECBs, while attractive, have a maximum limit of $750 million per fiscal under the automatic route.
● The slowdown in bank credit to NBFCs also reflects a decline in unsecured loan growth, aligning
with RBI’s efforts to curb over-reliance on banks and ensure financial stability.
About NBFC:
● A Non-Banking Financial Company (NBFC) is a company that offers financial services and
products, but is not a bank.
● NBFCs are registered under the Companies Act, 1956.
● it does not have a full banking license or is not supervised by a national or international banking
regulatory agency.
● NBFC facilitate bank-related financial services, such as investment, risk pooling, contractual
savings, and market brokering.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra
India’s Gross Domestic Product (GDP) growth to Slow to 6.4% in 2025: Moody’s Analytics
● India’s economic growth is projected to slow to 4% in 2025, down from 6.6% in 2024, primarily
due to new U.S. tariffs and weakening global demand impacting exports, according to a report
by Moody’s Analytics.

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 Important Monthly Current Affairs Capsule – February 2025

● The report, titled ‘Asia-Pacific Outlook: Chaos Ahead,‘ highlights that the entire Asia-Pacific
region is expected to experience slower growth as trade tensions, policy uncertainties, and
uneven economic recoveries affect the region’s fortunes.
● Specifically, China’s GDP growth is forecasted to decline from 5% in 2024 to 4.2% in 2025 and
3.9% in 2026.
About Moody’s Ratings:
● Founded: 1909 by John Moody
● Headquarters: New York City, USA
● Operations: Moody’s Ratings (Credit Ratings), Moody’s Analytics (Financial Analysis)
● President & CEO: Rob Fauber
Reserve Bank of India’s Open Market Operation Purchase Auction Sees Bids Surge to ₹1.87 Trillion
Against ₹40,000 Crore Offer
● Reserve Bank of India received bids worth ₹1.87 trillion against the notified amount of ₹40,000
crore at the Open Market Operation
● The cut-off price was set below the secondary market price due to high demand.
● PSU banks were major participants, driven by liquidity deficit.
● RBI has purchased ₹1 trillion in government securities via OMO auctions.
● RBI bought ₹58,875 crore worth of securities in January through screen-based OMOs.
● RBI acquired ₹39,000 crore worth of bonds in the secondary market.
What Are Open Market Operations (OMOs)?
● Open market operation (OMO) is a term that refers to the purchase and sale of securities in the
open market by the Federal Reserve (Fed).
What is Variable Rate Repo?
● It is a mechanism where the RBI permits banks to borrow funds at rates determined by the
market, differing from the fixed Repo Rate at which banks borrow directly from the RBI.
● Typically lasting up to 14 days, VRR serves as a means to inject short-term liquidity into the
banking system.
● Conversely, Variable Rate Reverse Repo (VRRR) is employed to absorb surplus liquidity from
the system.
India set to become high-income country by 2047 buoyed by services sector: Report
● India is projected to become a high-income country by 2047 with a GDP of USD 23-35 trillion.
● The services sector will contribute 60% of GDP, while manufacturing will account for 32%.
● 200 million individuals expected to enter the workforce, creating opportunities for high-value job

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 Important Monthly Current Affairs Capsule – February 2025

creation.
● Sectoral technology roadmap and advances in AI-driven chip design, touchless manufacturing,
and backward integration to boost competitiveness and innovation.
● The manufacturing sector’s export share could rise from 24% to 45%-50% by 2047, with GDP
contribution increasing from 3% to 8%-10%.
● Renewable energy share in total energy production could increase from 24% (2023) to 70%
(2047).
● Auto-component exports are expected to reach USD 200-250 billion by 2047, driven by ICE
market share capture and transition to EVs.
● The projections and insights are based on a report by Bain & Company and Nasscom.
Reserve Bank of India proposes scrapping foreclosure charges on floating rate loans for individuals and
Micro, Small and Medium Enterprises
● The Reserve Bank of India (RBI) has issued draft guidelines proposing the removal
of foreclosure charges on floating-rate loans for retail and MSME borrowers, including loans
granted to individual borrowers for business purposes.
● These changes will provide greater flexibility for borrowers to switch lenders offering better
terms and allow them to prepay their loans without incurring penalties, which currently range
from 4-5% on the outstanding principal for personal loans.
● According to the draft circular, regulated entities (REs), except Tier 1 and 2 primary (urban)
cooperative banks and base layer NBFCs, shall not impose prepayment penalties on floating-rate
loans sanctioned to individuals and MSE borrowers, up to an aggregate limit of ₹7.50 crore per
borrower.
● This waiver will enable MSMEs to utilize their savings for expansion, improve cash flow, and
enhance financial stability.
● Additionally, the RBI has proposed that lenders must permit loan prepayment without enforcing
a minimum lock-in period and must not retrospectively levy charges that were
previously waived or undisclosed to borrowers.
● The central bank has invited comments and feedback from stakeholders and the public on
these draft guidelines until March 21.
Reserve Bank of India imposes penalty on Citibank, Asirvad Micro Finance, JM Fin Home Loans
● The Reserve Bank of India (RBI) imposed monetary penalties on Citibank, Asirvad Micro Finance,
and JM Financial Home Loans for violating regulatory norms.
● The RBI’s action was based on supervisory findings following a statutory inspection of the

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 Important Monthly Current Affairs Capsule – February 2025

companies’ financial position as of March 31, 2023 (for Citibank and Asirvad Micro Finance)
and March 31, 2022, and March 31, 2023 (for JM Financial Home Loans).
Key Highlights:
● Citibank was fined ₹39 lakh for reporting breaches in ‘Large Exposures’ limits with delay and
failing to upload rectified data within seven days of receiving rejection reports from Credit
Information Companies (CICs).
● Asirvad Micro Finance was penalized ₹6.20 lakh for failing to report household income of certain
borrowers to CICs, not providing factsheets to some gold loan customers, and not
implementing auto-escalation of complaints rejected by its internal grievance redress
mechanism to the internal ombudsman.
● JM Financial Home Loans was fined ₹1.50 lakh for failing to disclose its approach for gradation of
risk and the rationale for different interest rates for different borrower categories. The company
also did not explicitly communicate this in application forms or sanction letters.
LTI Mindtree gains after joining hands with Eurobank S.A
● LTIMindtree gained 2.85%, reaching ₹5,634.15, after announcing a strategic
collaboration with Eurobank S.A., a subsidiary of Eurobank Ergasias Services and Holdings S.A.,
to enhance customer experience and improve banking operations for Eurobank and
its subsidiaries.
Key Highlights of the Collaboration:
● Fairfax Digital Services (a Fairfax Company) enabled the partnership.
● A Global Delivery Center will be established in India.
● LTIMindtree has been chosen as the Services Partner for Eurobank Luxembourg’s Temenos
implementation program, handling:
o Maintenance
o Data migration
o Quality assurance
o Post-production support
● The collaboration will focus on modernizing the technology infrastructure across Cyprus,
Luxembourg, and Greece to enhance customer experience and operational efficiency.
About LTIMindtree:
● LTIMindtree, a Larsen & Toubro Group company, is a global technology consulting and digital
solutions firm that helps enterprises reimagine business models, accelerate innovation, and drive
growth through digital technologies.

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 Important Monthly Current Affairs Capsule – February 2025

● The company combines the strengths of Larsen & Toubro Infotech and Mindtree,
delivering large-scale digital transformation and solving complex business challenges.
Reserve Bank of India’s 87,000-cr rupee-dollar swap to shore up banks’ liquidity
● The Reserve Bank of India (RBI) will conduct a three-year dollar-rupee buy-sell swap
auction worth $10 billion (approximately ₹87,000 crores) on February 28, 2025 to inject
liquidity into the banking system.
● “In order to meet the durable liquidity needs of the system, the Reserve Bank has decided to
inject rupee liquidity for a longer duration through a long-term USD-INR buy-sell swap,” RBI
Mirae Asset Sharekhan Expands into Life Insurance Distribution with ICICI Prudential, HDFC Life
Partnerships
● Mirae Asset Sharekhan, a leading financial services platform, has entered the life insurance
distribution sector through strategic partnerships with ICICI Prudential Life Insurance and HDFC
Life.
● This move aligns with the company’s vision of offering a one-stop financial platform that
integrates wealth creation with long-term financial security.
About HDFC Life:
● Headquarters: Mumbai, Maharashtra, India
● Founded: 2000
● CEO: Vibha Padalkar
● Subsidiaries: HDFC Life Insurance, HDFC Pension Management, HDFC Life Asset Management
● Key Products: Life Insurance, Health Insurance, Pension Plans, Unit-Linked Insurance Plans
(ULIPs), Term Insurance, Child Plans, Retirement Plans, Critical Illness Plans
About ICICI Prudential Life Insurance:
● Headquarters: Mumbai, Maharashtra, India
● Founded: 2001
● CEO: Anup Bagchi
● Subsidiaries: ICICI Prudential Pension Funds Management Company Limited
● Key Products: Life Insurance, Health Insurance, Pension Plans, Unit-Linked Insurance Plans
(ULIPs), Term Insurance, Child Plans, Retirement Plans, Critical Illness Plans
Razorpay FTX 2025: Smarter payments, safer e-commerce & AI-driven financial solutions unveiled
● Razorpay, India’s leading omnichannel payments and business banking platform, has
introduced 4 major innovations at its annual flagship event, FTX 2025, framing a new era of AI-
driven financial solutions designed to empower startups, e-commerce brands, and enterprises

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 Important Monthly Current Affairs Capsule – February 2025

with frictionless financial solutions and secure, AI-powered experiences.

Key Highlights:
1. RazorpayX Corporate Cards (in partnership with YES Bank)
2. Buyer Protection Program
3. RAY Agentic-AI Toolkit
4. Razorpay Engage Gift Cards
About Razorpay:
● Headquarters: Bengaluru, Karnataka, India
● Founded: 2014
● CEO: Harshil Mathur
● MD: Shashank Kumar
● Subsidiaries: RazorpayX, Razorpay Capital, Curlec (Malaysia-based fintech)
Key Products: Payment Gateway, RazorpayX (neo-banking), Razorpay Capital (lending),
Subscription Payments, Payment Links
Punjab National Bank Signs Memorandum of Understanding with Indo-Tibetan Border Police (ITBP), to
Offer Exclusive Banking Benefits to Personnel and their Families
● Punjab National Bank (PNB) has signed a Memorandum of Understanding (MoU) with the Indo-
Tibetan Border Police (ITBP), framing a strategic partnership to provide exclusive financial
benefits and insurance coverage for ITBP personnel, pensioners, and their families.
● The MoU was signed by P. Singh, General Manager, PNB, and S.C. Mamgain, Inspector
General (Admn), ITBP, at the ITBP Headquarters, CGO Complex, New Delhi.
● The exchange took place in the presence of Binay Kumar Gupta, Chief General Manager, PNB;
Vikash Burman, DIG (Admn), ITBP, and other senior officials from both organizations.
● Through this partnership, PNB has reaffirmed its dedication to supporting India’s armed forces,
particularly the ‘Himveers’ of ITBP, by framing customized financial products and services
tailored to their needs.
About Punjab National Bank (PNB):
● Founded: 1894
● Headquarters: New Delhi, India
● Managing Director & CEO: Ashok Chandra
● Tagline: “The Name You Can Bank Upon”
Association of Mutual Funds in India launches 3 new investor initiatives: Chhoti SIP, Tarun Yojana,
MITRA

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 Important Monthly Current Affairs Capsule – February 2025

● The Association of Mutual Funds in India (AMFI) has launched three strategic initiatives—Chhoti
SIP, Tarun Yojana, and MITRA—aimed at enhancing financial inclusion, promoting investor
awareness, and facilitating the retrieval of forgotten investments.
● These efforts align with the Securities and Exchange Board of India’s (SEBI) mission
to democratize mutual fund investments and broaden participation across diverse demographics.
● These initiatives reflect AMFI’s commitment to making mutual funds a viable and accessible
investment avenue for every Indian, thereby strengthening financial inclusion and investor
protection.
Key Highlights:
● Chhoti SIP: This initiative introduces a Systematic Investment Plan (SIP) starting at ₹250, making
mutual fund investments more accessible, especially for first-time investors and individuals from
underserved communities.
● Tarun Yojana: Aimed at integrating financial literacy into school curricula, Tarun Yojana seeks to
equip young minds with foundational knowledge of investment principles, fostering early financial
education.
● MITRA (Mutual Fund Investment Tracing and Retrieval Assistant): This platform assists investors
and their legal heirs in identifying and recovering inactive or forgotten mutual fund holdings,
ensuring rightful asset ownership.
Government Plans To Extend ‘Free Look Period’ From 1 month To 1 Year
● The government has asked private insurers to increase the free-look period from one month to a
year.
● The free-look period allows customers to cancel an insurance policy without surrender charges.
● Last year, IRDAI increased the period from 15 days to 30 days.
● Insurers must refund the first premium if the policyholder returns the policy within this period.
Bima Vahak’s portal is ready for soft launch in April 2025: Insurance Regulatory and Development
Authority of India (IRDAI)
● Bima Vahak portal is nearing completion and will be soft-launched in April 2025 for onboarding ‘’
● The initiative is women-centric and aims to increase insurance penetration in underserved areas.
● During Bima Manthan (Feb 13-14, 2025) in Hyderabad, Insurance Regulatory and Development
Authority of India (IRDAI) met with CEOs of life and non-life insurers to discuss the phased
launch of Bima Trinity and finalize a compliant, customer-friendly insurance distribution model.
● These initiatives reflect IRDAI’s commitment to insurance digitization, accessibility, and
compliance.

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 Important Monthly Current Affairs Capsule – February 2025

Key Highlights:
● Bima Trinity aims to drive financial inclusion, improve customer experience, and expand
insurance coverage across India.
● Bima Trinity consists of:
● Bima Vahak – Women-led local insurance distribution network.
● Bima Vistaar – Composite insurance product covering life, health, personal accident, and
property insurance.
● Bima Sugam – Digital insurance marketplace for policy purchases, servicing, and claims.
● Bima Sugam India Federation (BSIF) has completed incorporation and is now ready for capital
infusion from industry participants.
About IRDAI:
● Headquarters (HQ): Hyderabad, Telangana, India
● Chairperson: Debasish Panda (as of October 2023)
● Founded: 1999
Paytm Launches Solar Soundbox: A Game-Changer for Small Merchants
● Paytm Solar Soundbox is an eco-friendly solution that harnesses a low-cost alternative energy
source, enabling merchants in rural, remote, and electricity-deprived areas to seamlessly
integrate into the digital ecosystem.
About Paytm:
● Headquarters: Noida, Uttar Pradesh, India
● Founded: 2010
● Chairman & CEO: Vijay Shekhar Sharma
● Subsidiaries: Paytm Payments Bank, Paytm Mall, Paytm Cloud Technologies
● Key Products: Paytm App, Paytm Wallet, Paytm Payments Bank, Paytm Mall
Securities and Exchange Board of India (SEBI) Proposes Major Reforms for Angel Funds to Enhance
Capital Flow to Startups
● The Securities and Exchange Board of India (SEBI) proposes allowing Angel Funds to onboard
a larger pool of experienced investors without breaching the private placement cap.
● SEBI suggests recognizing Accredited Investors (AIs) as QIBs under the ICDR Regulations,
2018.
● This change would exempt AIs from the 200-investor limit set by the Companies Act, 2013.
About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January

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 Important Monthly Current Affairs Capsule – February 2025

1992 through the SEBI Act, 1992

● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.
Reserve Bank of India launches Financial Literacy Week 2025 with a focus on women’s prosperity
● The Reserve Bank of India launched Financial Literacy Week (FLW) 2025.
● The event runs from February 24 to 28, 2025.
● The theme is “Financial Literacy: Women’s Prosperity”.
● The launch was inaugurated by RBI Governor Sanjay Malhotra.
● The Governor stressed the importance of empowering women for inclusive and sustained
economic growth.
● The launch was attended by top management and regional heads of the Reserve Bank,
NABARD, and select commercial banks.
● Banks are urged to utilize all channels to promote financial literacy, especially among women.
● RBI has planned multimedia campaigns to increase awareness.
● The initiative aims to promote financial inclusion and gender equality in financial participation.
Reserve Bank of India Revises Prudential Norms For Urban Co-operative Banks
● Reserve Bank of India has revised prudential norms for Urban Co-operative Banks (UCBs) to
increase operational flexibility.
Key Highlights:
● UCBs must have at least 50% of their aggregate loans and advances in small-value loans.
● The value of these small-value loans has been increased to not more than Rs 25 lakh or 0.4% of
Tier I capital (whichever is higher), up from 0.2%.
● The borrower cap has been increased to Rs 3 crore per borrower from Rs 1 crore earlier, out of
the total Tier-I capital.
● UCB boards must periodically review portfolio behavior and quality under different loan-size
categories.
● The aggregate exposure of UCBs to residential mortgages (housing loans to individuals) is
capped at 25% of total loans and advances.
● Individual housing loan limits have been introduced:
● Tier 1: Rs 60 lakh per dwelling unit.
● Tier 2: Rs 1.4 crore.

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 Important Monthly Current Affairs Capsule – February 2025

● Tier 3: Rs 2 crore.
● Tier 4: Rs 3 crore.
● Aggregate exposure to the real-estate sector (excluding housing loans to individuals) should not
exceed 5% of total loans and advances.
● The timeline for provisioning requirements for investment in security receipts has been extended
to 2027–28 from 2025–26.
● The reforms aim to strengthen the co-operative banking sector, promoting financial inclusion and
supporting rural development.
● Recently the RBI imposed business restrictions on New India Co-operative Bank due to poor
governance.
Corporate Profits Grew 15.3% in FY24 Despite Sluggish Sales: Reserve Bank of India Report
● The Reserve Bank of India (RBI) reported that corporate profits grew by 15.3% in FY24,
despite slower sales growth of 5.5%, primarily due to cost rationalisation.
● The services sector outperformed manufacturing in both sales and profit growth, reversing the
trend from FY23.
Key Highlights:
● Overall corporate profit growth: 15.3% in FY24 (up from 4.2% in FY23)
● Sales growth: Declined to 5.5% in FY24
o Manufacturing sector: 4.1% (vs. double-digit growth in FY23)
o Services sector: 6.8%
● The RBI report is based on audited financial data from 6,955 non-government, non-financial
public companies for FY22 to FY24, sourced from the Ministry of Corporate Affairs.
Reserve Bank of India frees up bank capital with Non Banking Financial Companies risk weight rollback
● The Reserve Bank of India (RBI) has reversed its decision to increase risk weights for bank loans
to Non Banking Financial Companies, effective April 1, 2025.
● This move will lead to a substantial capital release for banks, improving credit flow to NBFCs.
● Risk weights for microloans by banks have been revised to 75% or 100%, depending on the
nature of the loan, instead of 125%.
● The November 16, 2023 decision had increased risk weights by 25 percentage points for loans
to AAA-, AA-, and A-rated NBFCs if their risk weight was below 100%.
● This led to a sharp decline in bank loans to NBFCs, with year-on-year loan growth falling from 15%
to 6.7% by December 2024.
● Overall bank credit growth also slowed, dropping from 20% to 11.2% in the same period.

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 Important Monthly Current Affairs Capsule – February 2025

● Microfinance impact:
● 75% risk weight for regulatory retail/business loans.
● 100% risk weight for consumer credit loans.
● Previously, both categories had 125% risk weight, creating confusion among banks.
IndusInd Bank partners with Professional Golf Tour of India as its Official Banking Partner
● IndusInd Bank has partnered with the Professional Golf Tour of India (PGTI) as its official
Banking Partner, reinforcing its commitment to providing a premium experience to Ultra High Net
Worth Individuals (UHNIs) & High Net Worth Individuals (HNIs) under its PIONEER banking
● This collaboration aligns with the bank’s strategy of offering value-added services tailored to
customers’ lifestyles, particularly in sports.
● As the exclusive Banking Partner, IndusInd Bank will actively support PGTI events throughout
the tournament, contributing to the expansion of golf and strengthening India’s professional
golfing landscape.
● The PGTI tour, led by Kapil Dev (President) and Amandeep Johl (CEO), features over 20
tournaments annually, with PIONEER customers getting opportunities to participate in various
engagement activities across tournament cities.
About IndusInd Bank:
● Headquarters: Mumbai, Maharashtra, India
● CEO: Sumant Kathpalia
● Founded Year: 1994
● Slogan: “We Make You Feel Richer”
Small Industries Development Bank of India signs MoU with Tata Capital Limited to strengthen
financing avenues for MSMEs
● Apex regulatory body for overall licensing and regulation of micro, small and medium enterprise
finance companies in India, The Small Industries Development Bank of India (SIDBI) and Tata
Capital Limited (TCL) have signed an MoU for a “Partnership for financing MSMEs,” aiming to
enhance funding opportunities for the Micro, Small, and Medium Enterprise (MSME) sector.
● Focus on providing financial support for machinery/equipment financing, working capital,
business loans, and loans against property.
● Exploration of risk-sharing, co-lending, and joint financing to improve credit access for MSMEs.
● MoU signed by Vivek Kumar Malhotra, Chief General Manager, SIDBI, and Vivek Chopra, Chief
Operating Officer, Retail Finance, TCL, in the presence of senior officials from both organizations.
About Small Industries Development Bank of India (SIDBI):

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 Important Monthly Current Affairs Capsule – February 2025

● It is an All India Development Financial Institution (DFI) focused on financing and developing
Micro, Small, and Medium Enterprises (MSMEs) in India.
● Headquarters: Lucknow, Uttar Pradesh
● Founded: April 2, 1990, by the Government of India
● Chairman & Managing Director: Shri Manoj Mittal
● It operates through:
● Indirect Lending: Expanding MSME financing through financial intermediaries.
● Direct Lending: Bridging credit gaps in the MSME sector.
● Fund of Funds: Supporting startups and entrepreneurship development.
● Promotion & Development: Assisting budding entrepreneurs through credit-plus initiatives.
● Facilitator: Acting as the nodal agency for MSME-oriented government schemes.
South Indian Bank Enhances Customer Convenience with ‘SIB QUICKPL’ for Loans & ‘SIB Quick FD’
for Deposits
● South Indian Bank (SIB) has introduced “SIB QUICKPL”, a digital personal loan
platform designed for new customers, making personal financing faster and more accessible.
Key Features of SIB QUICKPL:
● Available for salaried and self-employed individuals with good credit profiles.
● Fully digital and paperless process—loan approval in just 10 minutes.
● Funds credited directly to a savings account in any bank across India.
● No document uploads required, as the platform integrates with the Income Tax
portal and leverages the Account Aggregator framework for seamless verification.
● Customers can apply via SIB QUICKPL Portal.
SIB Quick FD – Digital Fixed Deposit Service
● In addition to digital personal loans, South Indian Bank has launched ‘SIB Quick FD’, a new
variant that allows customers to open Fixed Deposits (FDs) digitally using funds from other bank
accounts via UPI.
About South Indian Bank:
● Founded Year: 1929
● Headquarters: Thrissur, Kerala, India
● CEO: P.R. Seshadri
● Slogan: “Experience Next-Gen Banking”
YES Bank Ranked Highest Among Indian Banks for ESG and Climate Disclosures by S&P Global and
CDP

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 Important Monthly Current Affairs Capsule – February 2025

● YES BANK has once again demonstrated its leadership in sustainability, emerging as India’s
highest-rated bank in the S&P Global Corporate Sustainability Assessment (CSA) 2024 and
the Carbon Disclosure Project (CDP) for the 3rd consecutive year.
● With a CSA score of 72 out of 100, YES BANK is the only Indian bank to feature in the S&P
Global Sustainability Yearbook 2025, placing it among the top 15% Global Banking Leaders.
● The bank has also retained an A (Leadership Band) rating from CDP, reinforcing its strong
climate change strategy and transparent ESG disclosures.
● Remains the only Indian bank with this rating, highlighting its exceptional sustainability
performance.
About YES Bank:
● Founded: 2004
● Headquarters: Mumbai, Maharashtra, India
● Managing Director & CEO: Prashant Kumar
● Tagline : “Life Ko Banao Rich”
Government seeks merchant bankers for stake sale in public sector banks, financial institutions
● The Department of Investment and Public Asset Management (DIPAM) has invited bids
from merchant bankers to facilitate the government’s proposed stake sale in public sector banks
(PSBs) and listed public financial institutions (PFIs).
● Empanelment Duration: Selected bankers will be empanelled for three years, with an option for
a one-year extension.
● Scope of Work: Merchant bankers will advise the government on equity dilution timing and
modalities.
● Regulatory Compliance: Stake sales will be conducted using SEBI-approved methods in
compliance with SEBI, RBI, IRDAI, and Stock Exchange regulations.
About DIPAM:
● Department of Investment and Public Asset Management (DIPAM) deals with all matters relating
to management of Central Government investments in equity including disinvestment of equity in
Central Public Sector Undertakings.
● The three major areas of its work relate to Strategic Disinvestment and Privatisation, Minority
Stake Sales and Capital Restructuring.
● All matters relating to sale of Central Government equity through offer for sale or private
placement or any other mode in the Central Public Sector Undertakings as well as strategic
disinvestment of CPSEs is dealt with in DIPAM.

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 Important Monthly Current Affairs Capsule – February 2025

● DIPAM is a Department under the Ministry of Finance.

Securities and Exchange Board of India (SEBI) Imposes ₹5.05 Crore Penalty on Indian Clearing
Corporation (ICCL), for Cybersecurity and Audit Norm Violations
● The Securities and Exchange Board of India (SEBI) has imposed a penalty of ₹5.05
crore on Indian Clearing Corporation (ICCL), a wholly owned subsidiary of BSE, for alleged
violations related to cybersecurity and system audit norms.
● Following an inspection conducted between December 2022 and July 2023, SEBI issued a show-
cause notice to ICCL in October 2024, citing multiple compliance lapses.
● One of the key findings was that ICCL submitted a network auditor report without
incorporating management or board comments, which is a regulatory requirement.
● Additionally, SEBI’s investigation revealed that ICCL did not maintain an up-to-date inventory,
failed to address issues flagged in cyber audits promptly, and did not establish a one-to-one
correspondence between its disaster recovery site (DRS), near site (NS), and Primary Data
Centre (PDC), as mandated by cybersecurity regulations.
● This penalty highlights SEBI’s strict stance on cybersecurity compliance and risk
management within financial institutions, emphasizing the need for clearing corporations to
adhere to prescribed norms and ensure robust cybersecurity frameworks with timely
resolution of audit observations.
Go Digit launches India’s first AQI-based parametric insurance for Delhi-NCR construction workers
● Go Digit General Insurance Limited (Digit Insurance) has partnered with M. Dastur Reinsurance
Brokers (KMD) to introduce one of India’s first AQI-based parametric insurance
policies for migrant construction workers in Delhi NCR.
● The policy provides compensation of up to ₹6,000 to 6,200 workers affected by construction
bans imposed due to severe air pollution.
● Under the policy, claims are triggered automatically if Delhi’s daily Air Quality Index (AQI)
exceeds 400 more than twice.
● A “strike” is defined as three days of AQI above 400 within any five-day period, with a minimum
25-day gap between strikes.
● Various government and court directives mandate halting construction activities when pollution
reaches hazardous levels, directly impacting workers’ earnings.
● Nikhil Kamdar, appointed actuary at Digit Insurance, stated that the policy aims to provide
a transparent and efficient solution for wage loss caused by pollution-related work stoppages.
● In 2024, Digit Insurance also introduced excess heat-related parametric insurance for women

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 Important Monthly Current Affairs Capsule – February 2025

labourers in Gujarat.

NATIONAL NEWS
Article 224A of the Indian Constitution: Appointment of Ad Hoc Judges in High Courts
● Article 224A of the Indian Constitution enables the appointment of retired judges as ad hoc
judges in High Courts to address judicial vacancies and case backlogs.
● The Chief Justice of a High Court can request a retired judge, with the President’s prior consent,
to sit and act as a judge.
● The Chief Justice of a High Court can appoint retired judges from the same or another High
Court.
India’s First White Tiger Breeding Centre Approved in Madhya Pradesh’s Rewa
● The Central Zoo Authority (CZA) has given final approval for India’s first white tiger breeding
centre, to be established in Govindgarh, Rewa district, Madhya Pradesh.
● This project is a landmark step in wildlife conservation, as Rewa holds historical significance for
being home to the last known wild white tiger.
About MP:
● Capital: Bhopal
● Governor: Mangubhai C. Patel
● Chief Minister: Mohan Yadav.

Union Budget 2025-26: ₹6.81 Lakh Crore Allocated for Defence Sector
● In line with Prime Minister Narendra Modi’s vision of ‘Viksit Bharat @ 2047’ and Aatmanirbhar
Armed Forces, the Union Budget 2025-26 has allocated ₹6,81,210.27 crore to the Ministry of Defence
(MoD).
● This is a 9.53% increase over the 2024-25 budget and constitutes 13.45% of the total Union
Budget, the highest allocation among all ministries.
● ₹1,80,000 crore allocated (26.43% of the total defence budget).
● Capital Acquisition Budget: ₹1,48,722.80 crore for modernization of the Armed Forces.

Gender Budget 2025-26: ₹4.49 Lakh Crore Allocated for Women’s Welfare
● Union Minister of Finance Smt. Nirmala Sitharaman presented the Union Budget 2025-26,
highlighting a historic increase in Gender Budget allocation.

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 Important Monthly Current Affairs Capsule – February 2025

● The share of Gender Budget in the total Union Budget has risen to 8.86% in FY 2025-26,
compared to 6.8% in FY 2024-25.
● ₹4.49 lakh crore allocated for women and girls' welfare.
● 37.25% increase from ₹3.27 lakh crore in FY 2024-25.
Ministry of Rural Development Sanctions 27 Roads Under PM-JANMAN to Boost Rural Connectivity in
Maharashtra
● In a major step towards enhancing rural connectivity and economic growth, the Ministry of Rural
Development (MoRD) has approved 27 roads spanning 50.13 km under the Connectivity Component of
PM-JANMAN in Maharashtra.
● This initiative involves an investment of ₹50.35 crore and aims to uplift Particularly Vulnerable
Tribal Groups (PVTGs) in the state.
● All-Weather Road Connectivity: Ensuring reliable infrastructure for 27 PVTG habitations in
remote areas.
● Launch: The PM JANMAN scheme was inaugurated on 15th November 2023, coinciding with
Janjatiya Gaurav Divas.
● Background: This initiative is a part of the Pradhan Mantri-PVTG Development Mission,
introduced in the 2022-23 Union Budget.
The Two-Day National Conference with Labour Ministers and Secretaries of States & UTs in New Delhi,
chaired by Dr. Mansukh Mandaviya:
● The two-day workshop, chaired by Dr. Mansukh Mandaviya, Union Minister for Labour &
Employment, concluded with key discussions on social security and labour welfare for both organized
and unorganized sector workers.
● This workshop included Labour Ministers, Labour Secretaries of States/UTs, and other senior
officials.

Union Home Minister Releases "Indian Renaissance: The Modi Decade" Book
● The book "Indian Renaissance: The Modi Decade" was released by Shri Amit Shah, Union Home
Minister and Minister of Cooperation, in New Delhi.
● Shri Manohar Lal, Union Minister for Housing and Urban Affairs, Shri Kartikeya Sharma, Rajya
Sabha MP, and Dr. Aishwarya Pandit, the book's editor, were present at the event.
● Shri Amit Shah described the past 10 years under Prime Minister Narendra Modi as the end of
one era and the beginning of a new one, with India's history being rewritten.
Barmer District (Rajasthan) Administration Launches ‘MY NREGA App’ for Transparent Mahatma

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 Important Monthly Current Affairs Capsule – February 2025

Gandhi National Rural Employment Guarantee Act (MNREGA) Operations

● In a significant step toward improving the Mahatma Gandhi National Rural Employment
Guarantee Act (MNREGA) process, Barmer District (Rajasthan) Collector IAS Tina Dabi and Chief
Executive Officer (CEO) IAS Siddharth Palanichamy launched the ‘MY NREGA App’.
● Developed under the leadership of the Zila Parishad CEO, the app aims to make the employment
demand process more efficient, allowing MNREGA workers to apply for jobs from their homes instead of
visiting Gram Panchayats.

Coal India Limited (CIL) Supports the Coal India Ranchi Marathon 2025
● Coal India Limited (CIL), under the Ministry of Coal (MoC), is sponsoring the Coal India Ranchi
Marathon 2025, scheduled for 9th February 2025 in Ranchi, Jharkhand For the 3rd consecutive year.
● The event is supported by a sponsorship of Rs. 1 Crore from the Coal India Sports Promotion
Association (CISPA) fund, marking the third consecutive year of CIL's involvement.
● Central Coalfields Limited (CCL), a subsidiary of CIL, is responsible for conducting the event.
About Jharkhand:
● Chief minister: Hemant Soren
● Governor: Santosh Gangwar
● Capital: Ranchi
Union Budget 2025-26: Key Highlights & Major Reforms
● The Union Budget 2025-26, presented by Finance Minister Nirmala Sitharaman.
● The government has presented the Union Budget 2025-26 with the theme “Sabka Vikas.”
● It marks her eighth consecutive budget presentation, including six annual and two interim
budgets.
● Sitharaman has presented the most number of budgets among her predecessors, surpassing
figures like Manmohan Singh, Arun Jaitley, P. Chidambaram, Yashwant Sinha, and Morarji Desai.

India Adds 4 New Wetland Sites to the Ramsar List: Strengthening Conservation Efforts
● India has recently expanded its Ramsar Wetland Sites by adding four new wetlands—
Sakkarakottai Bird Sanctuary and Therthangal Bird Sanctuary in Tamil Nadu, Khecheopalri Wetland in
Sikkim, and Udhwa Lake in Jharkhand.
● With these additions, the total number of Ramsar sites in India has now reached 89, making India
the country with the highest number of Ramsar sites in Asia, ahead of China (82 sites).
● Globally, India ranks third, following the United Kingdom (175) and Mexico (142).

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 Important Monthly Current Affairs Capsule – February 2025

Union Government Approves Rs 3,027 Crore for Disaster Mitigation Projects Across India
● In a significant move to bolster disaster preparedness and resilience, the Union Home Ministry,
under the leadership of Amit Shah, has approved Rs 3,027.86 crore for disaster mitigation projects in
multiple states, including Meghalaya.
● The funds, allocated through the National Disaster Mitigation Fund (NDMF), aim to address
challenges posed by lightning strikes, droughts, and forest fires.
● Beneficiary States: Including Meghalaya, Andhra Pradesh, Bihar, Chhattisgarh, Jharkhand,
Madhya Pradesh, Maharashtra, Odisha, Uttar Pradesh, and West Bengal.
About Meghalaya
● Capital: Shillong
● Chief minister: Conrad Sangma
● Governor: C. H. Vijayashankar

Indian Railways Launches ‘SwaRail’ SuperApp for Seamless Travel Experience

● The Ministry of Railways has unveiled its new SuperApp ‘SwaRail’, designed to be a one-stop
solution for all railway-related services.
● Currently in its beta testing phase, the app is available for download on the Google Play Store
and Apple App Store.
● The key focus of this app is to enhance user experience through a seamless interface,
integrating various railway services into a single platform, thereby reducing the need for multiple apps
and saving space on user devices.
● Developed by: Centre for Railway Information Systems (CRIS)

India to Host BRICS Youth Council Entrepreneurship Working Group Meeting in March 2025
● The Department of Youth Affairs, under the Ministry of Youth Affairs and Sports, Government of
India, is organizing the BRICS Youth Council Entrepreneurship Working Group Meeting from 3rd to 7th
March 2025.
● The central theme of the meeting is “Youth Entrepreneurship for Sustainable Growth”, with
approximately 45 youth representatives from BRICS countries expected to participate.
Kavach Automatic Train Protection System: Transforming Railway Safety in India

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 Important Monthly Current Affairs Capsule – February 2025

● India’s railway safety is set for a major transformation with the nationwide rollout of the Kavach
Automatic Train Protection (ATP) system. Union Minister Ashwini Vaishnaw has confirmed that this
ambitious project will cover the entire railway network within six years.
● The goal is to enhance train safety, prevent collisions, and boost passenger confidence in one of
the world’s largest railway networks.
● Kavach, meaning "shield" in Hindi, is an indigenously developed Automatic Train Protection
(ATP) system designed to prevent train collisions and enhance operational safety.

Agnipath Scheme Gets ₹11,039 Crore Allocation in Defence Budget 2025-26

● The Government of India has allocated ₹11,039 crore for the Agnipath scheme in the Defence
Budget 2025-26, marking a 32% increase over last year’s revised estimate of ₹7,471 crore.
● This enhanced funding reflects the growing number of Agniveers being inducted into the Indian
Armed Forces.
● Total Allocation: ₹11,039 crore (2025-26)
● Previous Allocation: ₹7,471 crore (2024-25)

India Launches ₹20,000 Crore Nuclear Energy Mission to Develop Small Modular Reactors
● In a major step to expand India’s nuclear energy sector, the government has launched a ₹20,000
crore Nuclear Energy Mission aimed at developing Small Modular Reactors (SMRs).
● Finance Minister Nirmala Sitharaman, in her Union Budget 2025-26 speech, announced the plan
to operationalize at least five indigenous SMRs by 2033, signaling a significant policy shift towards
nuclear energy expansion.
● India’s current installed nuclear capacity stands at 7,480 MW with 23 operational reactors.
● The government plans to triple this to 22,800 MW by 2031-32 through the completion of 10
indigenously developed reactors approved in 2017.

Government of India Sanctions ₹3,295.76 Crore for Development of Iconic Tourist Centres
● The Government of India has sanctioned 40 projects across 23 states under the ‘Special
Assistance to States for Capital Investment (SASCI) – Development of Iconic Tourist Centres to Global
Scale’ initiative, with a total allocation of ₹3,295.76 crore for the Financial Year 2024-25.
● The primary goal is to develop iconic tourist centres, enhance their global branding and
marketing, and elevate them to international standards.
Government Expands Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana for Senior Citizens

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 Important Monthly Current Affairs Capsule – February 2025

● The Government of India expanded Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (AB-
PMJAY) to provide free treatment benefits up to ₹5 lakh per year for all senior citizens aged 70 years
and above, irrespective of socio-economic status, including tribal communities.
● The National Health Authority (NHA) introduced a revised Health Benefit Package (HBP)
covering 1,961 medical procedures across 27 specialties such as General Medicine, Surgery,
Orthopedics, Cardiology, and Oncology.

10th Empowered Programme Committee Meeting Approves Key Initiatives in Technical Textiles
● The Ministry of Textiles held the 10th Empowered Programme Committee (EPC) meeting under
the National Technical Textiles Mission at Udyog Bhawan, New Delhi.
● Four Start-Ups were approved under the ‘GREAT’ (Grant for Research & Entrepreneurship
across Aspiring Innovators in Technical Textiles) scheme, each receiving a grant of ₹50 lakh for projects
in Medical, Industrial, and Protective Textiles.
● Three educational institutes, including IIT Indore and NIT Patna, were sanctioned a total grant of
₹6.5 crore to introduce courses in Geotextiles, Geosynthetics, Protective Textiles, and Sports Textiles.
The Government of India Introduces ‘Haj Suvidha App’ to Enhance Pilgrimage Experience
● The Government of India has launched the ‘Haj Suvidha App’, aimed at improving the pilgrimage
experience for Indian Haj pilgrims.
● The initiative underscores the government's commitment to modernizing the pilgrimage
experience by enhancing accessibility, support, and convenience for Indian pilgrims.
● The ‘Haj Suvidha App’ is equipped with several features designed to assist pilgrims before and
during their pilgrimage:

Agricultural and Processed Food Products Export Development Authority (APEDA)’s financial
assistance schemes boost 47% surge in fruit and vegetable exports
● The Agricultural and Processed Food Products Export Development Authority (APEDA), under
the Department of Commerce, has significantly contributed to India's fruit and vegetable export growth
through its financial assistance schemes.
● Between 2019-20 and 2023-24, exports increased by 47.3% in volume and 41.5% in value,
reaching 123 countries and adding 17 new markets in the last three years.
About Ministry of Agriculture and Farmers Welfare:
● Cabinet Minister: Shivraj Singh Chouhan
● Minister of State (MoS): Ram Nath Thakur, Bhagirath Choudhary

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 Important Monthly Current Affairs Capsule – February 2025

India Leads the World in Domestic Flight Passenger Load Factor at 86.4% in 2024: International Air
Transport Association Report
● India has emerged as the global leader in passenger load factor (PLF) for domestic flights,
recording an impressive 86.4% in 2024, surpassing the US (84.1%) and China (83.2%), according to
the latest International Air Transport Association (IATA) report.
● India’s booming aviation sector carried 16.3 crore domestic passengers in 2024, highlighting its
rapid growth and efficiency.

India Launches First Ferret Research Facility in Haryana to Advance Biomedical Research
● India has inaugurated its first Ferret Research Facility at the Translational Health Science and
Technology Institute (THSTI) in Faridabad, Haryana, marking a major milestone in the country’s
biomedical research efforts.
● The facility aims to enhance research in infectious and non-communicable diseases, with a focus
on vaccine and therapeutic development.
● Dr. Rajesh Gokhale, Director General of the Biotechnology Research and Innovation Council, led
the inauguration, emphasizing the facility’s role in improving India’s preparedness for emerging
diseases.

Indian Army Renames Kolkata's Fort William to ‘Vijay Durg’ in Decolonization Push
● The Indian Army made a significant move towards decolonization by renaming Kolkata’s Fort
William to ‘Vijay Durg’.
● This decision reflects India’s commitment to honoring its indigenous military history while
removing colonial imprints.
● The new name is inspired by Vijaydurg Fort in Maharashtra, a stronghold under Chhatrapati
Shivaji Maharaj, and aligns with the government’s push to eliminate colonial-era symbols.
● Originally built in 1781 by the British, Fort William was named after King William III of England.

Union Minister of Rural Development Shri Shivraj Singh Chouhan launches a "Watershed Yatra"
Campaign to Promote Soil and Water Conservation under Pradhan Mantri Krishi Sinchayee Yojana
(WDC-PMKSY 2.0).

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 Important Monthly Current Affairs Capsule – February 2025

● Union Minister Shri Shivraj Singh Chouhan launched the national-level mass outreach campaign
“Watershed Yatra”, under the Watershed Development Component of Pradhan Mantri Krishi Sinchayee
Yojana (WDC-PMKSY 2.0).
● The campaign aims to enhance awareness and participation in watershed development, focusing
on soil and water conservation, sustainable natural resource management, and boosting agricultural
productivity, livelihoods, and environmental health across India.
India’s Logistics Sector Set for Major Transformation by 2030
• India rapidly advances its logistics infrastructure through key initiatives like PM Gati Shakti and
the National Logistics Policy (NLP).
• It aims to secure a spot in the top 25 of the World Bank’s Logistics Performance Index (LPI) by
2030.
• Currently ranked 38th out of 139 nations, India is witnessing multi-modal logistics transformation
and policy-driven advancements to become a global logistics hub.

Government Expands e-NAM Scope with 10 New Agricultural Commodities

• The Department of Agriculture and Farmers’ Welfare, Government of India, has expanded the
scope of trade under e-NAM (National Agricultural Market) by adding 10 more agricultural
commodities.
• This move, driven by continuous demand from farmers, traders, and stakeholders, aims to
provide better market access, fair pricing, and increased transparency in agricultural trade.
• Newly Added Commodities on e-NAM
• Categor • Commodities
y
• Miscella • Dried Tulsi Leaves, Besan (Chickpea Flour), Wheat Flour, Chana
neous Sattu (Roasted Chickpea Flour), Water Chestnut Flour
• Spices • Asafoetida, Dried Fenugreek Leaves
• Vegetab • Water Chestnut, Baby Corn
les
• Fruits • Dragon Fruit

Bay of Bengal Initiative on Multi-Sectoral Technical and Economic Cooperation Youth Summit 2025 to
Strengthen Regional Cooperation in Gujarat

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 Important Monthly Current Affairs Capsule – February 2025

• The BIMSTEC (Bay of Bengal Initiative on Multi-Sectoral Technical and Economic Cooperation)
Youth Summit 2025 will take place in Gandhinagar, Gujarat, from 7 to 11 February 2025.
• It will bring together young leaders from Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka,
and Thailand.
• The summit, inaugurated by Union Minister Dr. Mansukh Mandaviya on 8th February, aims to
foster youth collaboration, innovation, and regional development.

Union Cabinet, chaired by Prime Minister Narendra Modi, approves extension and restructuring of ‘Skill
India Programme (SIP)’ till 2026 with an outlay of ₹8,800 crore for 2022-23 to 2025-26
• The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the
continuation and restructuring of the Skill India Programme (SIP) until 2026 with an outlay of Rs.
8,800 crore from 2022-23 to 2025-26.
• This initiative aims to build a skilled, future-ready workforce through demand-driven, technology-
enabled, and industry-aligned training across India.

Union Cabinet, chaired by PM Narendra Modi, approves three-year extension of National Commission
for Safai Karamcharis (NCSK) till March 31, 2028
• The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the extension
of the National Commission for Safai Karamcharis (NCSK) tenure for three years, extending it
beyond 31.03.2025 until 31.03.2028.
• The total financial implication for this extension is approximately Rs. 50.91 crore.
• The extension aims to facilitate socio-economic upliftment of sanitation workers, improve working
conditions, and achieve zero fatalities in hazardous cleaning tasks.
• The Commission's continued work will support the advancement of Safai Karamcharis in the
country.
India Surpasses ₹1.27 Lakh Crore in Defence Production Ahead of Aero India 2025
• India has reached a historic milestone in its defence sector, with domestic defence production
surpassing ₹1.27 lakh crore.
• This marks a significant step in India's path toward self-reliance and global prominence in
defence manufacturing.
• The announcement was made by Union Defence Minister Rajnath Singh, ahead of the Aero India
2025 show in Bengaluru.
Pradhan Mantri Jan Dhan Yojana (PMJDY) Reaches Milestone with Over 54.58 Crore Bank Accounts

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 Important Monthly Current Affairs Capsule – February 2025

Opened as of January 15, 2025

• The Pradhan Mantri Jan Dhan Yojana (PMJDY) has achieved a significant milestone, with over
54.58 crore bank accounts opened as of January 15, 2025.
• Notably, 55.7% of these accounts belong to women, showcasing the scheme’s role in financial
inclusion, especially among marginalized communities.
• Launched in August 2014 to provide universal access to banking services.
• Initially focused on providing basic savings accounts, debit cards, and banking access for
unbanked households.
• Scheme • Total • Women
Enrollments (in Enrollments (in
Crore) Crore)
• Pradhan Mantri Jeevan Jyoti • 22.52 • 10+
Bima Yojana (PMJJBY)
• Pradhan Mantri Suraksha • 49.12 • 22.84
Bima Yojana (PMSBY)
• Atal Pension Yojana (APY) • 7.25 • 3.44

India to Host Inaugural World Audio Visual Entertainment Summit (WAVES) in 2025
• India will host the first-ever World Audio Visual Entertainment Summit (WAVES) at the Jio World
Convention Centre in Mumbai from May 1 to 4, 2025.
• The event aims to establish India as a global media and entertainment hub, attracting media
CEOs, entertainment professionals, and creative leaders from around the world.
The Ministry of Housing and Urban Affairs Launches ‘Culinary, Crafts & Clicks – Moods & Magic’
Festival
• The Ministry of Housing and Urban Affairs (MoHUA), in collaboration with MyGov, has introduced
the ‘Culinary, Crafts & Clicks—Moods & Magic’ festival.
• This initiative aims to showcase India’s rich cultural heritage through food, traditional arts, and
photography.
• The festival, which is being held at key locations like Kartavya Path and Amrit Udyan, features
artisans, photographers, and food enthusiasts.

President Droupadi Murmu Inaugurates International Conference on Unani Medicine in New Delhi

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 Important Monthly Current Affairs Capsule – February 2025

• President Droupadi Murmu inaugurated the International Conference on Unani Medicine at

Vigyan Bhawan, New Delhi, organized by the Central Council for Research in Unani Medicine
(CCRUM) under the Ministry of Ayush.
• Themed “Innovations in Unani Medicine for Integrative Health Solutions – A Way Forward”, the
event marked Unani Day celebrations and emphasized the role of Unani medicine in modern
healthcare.
• Unani Day is observed in honor of Hakim Ajmal Khan, a legendary Unani physician, freedom
fighter, and educationist.
Government Sanctions ₹3,295.76 Crore for Development of Iconic Tourist Centres
● The Government of India has approved 40 projects across 23 states under the ‘Special
Assistance to States for Capital Investment (SASCI)—Development of Iconic Tourist Centres to
Global Scale’ Scheme for the Financial Year 2024-25.
● The total financial outlay for these projects is ₹3,295.76 crore, and they aim to comprehensively
develop, brand comprehensively, and market iconic tourist destinations in India.
Key Highlights of the Scheme
● Objective: Develop world-class tourist destinations with end-to-end tourism experiences.
● Project Scope: Strengthening tourist value chains (infrastructure, facilities, and services).
● Funding support to states for project implementation.
● Sustainable operation & maintenance of destinations.
Indian President Droupadi Murmu Addresses International Women’s Conference 2025 in Bengaluru,
Karnataka
● The President of India, Smt. Droupadi Murmu graced the inaugural session of the International
Women’s Conference organised by The Art of Living in Bengaluru.
● In her address, she emphasized the rising power of Indian women (Nari Shakti) and their growing
influence in science, sports, politics, arts, and culture.
Women Breaking Barriers & Achieving Excellence
● Indian women are confidently advancing, making their families, institutions, and the nation proud.
● Overcoming stereotypes requires mental strength and determination.
India to Host First-Ever Regional Dialogue on Global Coalition for Social Justice in New Delhi
● Union Minister Mansukh Mandaviya will inaugurate the first-ever Regional Dialogue on Social
Justice, which is set to take place on February 24-25 at Bharat Mandapam in New Delhi.
● This landmark event is organized by the Ministry of Labour and Employment, in collaboration with
the Confederation of Indian Industry (CII) and the Employers’ Federation of India (EFI).

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 Important Monthly Current Affairs Capsule – February 2025

● The dialogue aims to bring together global stakeholders to discuss inclusive and sustainable
social policies.
Dr. Jitendra Singh to Chair 12th All India Pension Adalat in New Delhi
● Jitendra Singh, Minister of State for Personnel, Public Grievances, and Pensions, will chair the
12th All India Pension Adalat in New Delhi.
● Organized by the Department of Pension and Pensioners’ Welfare (DoPPW), this initiative aims
to address long-pending pension grievances of retired Central Government employees.
● With 180 cases under review, the session will focus on grievances that have been pending for
over 120 days, ensuring quick and effective resolutions.
● Since its launch in 2017, the Pension Adalat has played a crucial role in enhancing pension
dispute resolution efficiency.
Indian Prime Minister Narendra Modi Narendra Modi and Elon Musk Meet in Washington, D.C.:
Strengthening India-SpaceX Collaboration
● Prime Minister Narendra Modi met Tesla and SpaceX CEO Elon Musk at Blair House,
Washington, D.C.
● Their discussion focused on space exploration, electric vehicles (EVs), and innovation, further
strengthening India’s engagement with Musk’s ventures.
Key Highlights of the Meeting
1. Gift Exchange: A Symbol of Growing India-SpaceX Ties
● Elon Musk’s Gift to PM Modi: A hexagonal ceramic heatshield tile from SpaceX’s Starship Test
Flight 5 (October 13, 2024), engraved with mission details.
o Significance: The tile is designed to withstand extreme temperatures during spacecraft re-
entry, showcasing SpaceX’s advancements in reusable space technology.
Indian Prime Minister Narendra Modi Announces Deregulation Commission to Boost Business Reforms
● Prime Minister Narendra Modi has announced the establishment of a Deregulation
Commission to minimize state intervention in governance and enhance the ease of doing
business.
● Prime Minister Narendra Modi highlighted the government’s commitment to eliminating
bureaucratic hurdles and creating a business-friendly economy.
Key Objectives of the Deregulation Commission:
● Reducing government interference in economic activities.
● Simplifying governance structures and eliminating outdated regulations.
● Encouraging private sector participation in key industries.

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 Important Monthly Current Affairs Capsule – February 2025

● Implementing Jan Vishwas 2.0 to modernize business laws.

Pradhan Mantri Fasal Bima Yojana (PMFBY) Marks 9 Years: Strengthening Agricultural Resilience
● On February 18, 2025, the Pradhan Mantri Fasal Bima Yojana (PMFBY) celebrates its 9th
anniversary, marking nearly a decade of providing financial security to Indian farmers.
● Launched in 2016 by Prime Minister Narendra Modi, PMFBY serves as a comprehensive crop
insurance scheme, protecting farmers from natural calamities, pests, and diseases while
encouraging the adoption of modern farming practices.
Key Highlights:
1. Scheme Continuation & Budget Allocation
● The Union Cabinet (January 2025) approved the extension of PMFBY & RWBCIS till 2025-26.
● Total budget allocated: ₹69,515.71 crore.
2. Difference Between PMFBY & RWBCIS
● PMFBY: Indemnity-based insurance (claims based on actual crop losses).
● Restructured Weather-Based Crop Insurance Scheme (RWBCIS): Weather index-
based insurance (claims based on weather parameters like rainfall and temperature).
Government approves Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) Scheme till
2025-26 during the 15th Finance Commission cycle
● The Government of India has extended the Pradhan Mantri Annadata Aay Sanrakshan Abhiyan
(PM-AASHA) till 2025-26 to ensure that farmers receive fair prices for their produce during the
15th Finance Commission Cycle.
● This initiative plays a vital role in stabilizing food prices, benefiting farmers and consumers.
Key Components of PM-AASHA
● Price Support Scheme (PSS):
▪ Government procures pulses, oilseeds, and copra at Minimum Support Price (MSP).
▪ Procurement is done through NAFED and NCCF from pre-registered farmers.
Union Minister for Environment, Forest, and Climate Change, Shri Bhupender Yadav, Inaugurates
‘Waste Recycling & Climate Change 2025’ Conclave
● Union Minister for Environment, Forest, and Climate Change, Shri Bhupender Yadav,
inaugurated a day-long conclave organized by the Recycling and Environment Industry
Association of India (REIAI) on ‘Waste Recycling & Climate Change 2025’.
● He highlighted that India generates 62 million tonnes of waste annually, with a sharp increase in
plastic, electronic, and hazardous waste.
● The linear economy model (take-make-dispose) is unsustainable due to landfill pressure,

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 Important Monthly Current Affairs Capsule – February 2025

resource depletion, and environmental damage.

● A circular economy—focused on reducing, reusing, and recycling—is essential to conserve
resources, drive innovation, and create jobs.
Union Minister for Rural Development and Agriculture & Farmers’ Welfare, Shri Shivraj Singh
Chouhan, Inaugurates NAKSHA Pilot Programme for Geospatial Land Survey
● Union Minister for Rural Development and Agriculture & Farmers’ Welfare, Shri Shivraj Singh
Chouhan, inaugurated the National Geospatial Knowledge-based Land Survey of Urban
Habitations (NAKSHA) Pilot Programme at Raisen, Madhya Pradesh.
● This initiative, launched by the Department of Land Resources, Ministry of Rural Development,
aims to modernize land surveying using advanced geospatial technology.
Key Highlights of the NAKSHA Launch
● Launch of SOP Booklet, Video, and Flyers for public awareness.
● Flagging off of WDC Yatra along with screening of the WDC Video and Watershed Anthem.
● Simultaneous launch in 122 Urban Local Bodies (ULBs) and various Revenue Department
Headquarters across 26 States and 3 Union Territories.
● Demonstration of advanced land surveying technologies including drones and GNSS Rovers.
India’s First Open-Air Art Wall Museum Showcases 150 Years of India Meteorological Department
● India has taken an innovative step in blending science and art with the inauguration of the
country’s first Open-Air Art Wall Museum at Mausam Bhawan, New Delhi.
● Jitendra Singh, Union Minister of State for Science and Technology and Earth Sciences,
inaugurated this unique initiative to commemorate the 150-year journey of the India
Meteorological Department (IMD).
How the Open-Air Art Museum Celebrates IMD’s 150-Year Legacy
● IMD was established in 1875 and has been instrumental in weather forecasting, disaster
management, aviation, and agriculture.
● The museum features 38 murals, narrating IMD’s historical evolution, meteorological
advancements, and contributions to climate resilience.
India’s Smartphone Exports Reach Record High of Rs 1.55 Trillion
● India’s smartphone exports surged 56% to an all-time high of Rs 1.55 trillion between April 2024
and January 2025, up from Rs 991.2 billion in the same period last year.
● This remarkable growth has been driven by the Production-Linked Incentive (PLI) scheme, which
has strengthened the domestic manufacturing ecosystem and boosted exports.
● Apple and Samsung are leading this expansion, with Apple accounting for nearly 70% of total

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 Important Monthly Current Affairs Capsule – February 2025

shipments.
Apple’s Dominance in India’s Smartphone Export Growth
● Apple’s contract manufacturers contribute 70% of total smartphone exports.
● Foxconn’s Tamil Nadu plant ships 50% of Apple’s total exports from India.
● Tata Electronics (after acquiring Wistron’s Karnataka operations) contributes 22%.
● Pegatron’s Tamil Nadu unit adds 12% to iPhone exports.
India’s Urban Unemployment Rate Steady at 6.4% in Q3 FY25
● The urban unemployment rate in India remained unchanged at 6.4% in the October-December
quarter of FY25, according to the latest Periodic Labour Force Survey (PLFS) released by
the Ministry of Statistics and Programme Implementation (MoSPI).
● This follows a decline from 6.6% in Q1 FY25 to 6.4% in Q2 FY25, signaling a stable employment
scenario in urban areas.
● Despite the steady overall rate, the survey reveals shifts in gender-specific employment trends,
youth job opportunities, and labor force participation.
Gender-Wise Unemployment Trends
Male Unemployment
● Increased slightly to 5.8% in Q3 FY25, up from 5.7% in Q2 FY25
Female Unemployment
● Improved, dropping to 1% from 8.4% in Q2 FY25
● Indicates better job opportunities for women in urban areas
● However, the gender employment gap remains significant
Union Government Releases 15th Finance Commission Grants to Bihar, Haryana, and Sikkim
● The Union Government has released the Fifteenth Finance Commission (XV FC)
Grants for Rural Local Bodies (RLBs) in Bihar, Haryana, and Sikkim for the Financial Year 2024–
25.
● These grants aim to support local governance by strengthening Panchayati Raj Institutions
(PRIs) in these states.
India Elected as Vice President of the International Organization of Aids to Marine Navigation (IALA)
● India was elected to the Vice Presidency of the International Organization of Aids to Marine
Navigation (IALA) during its first General Assembly in Singapore.
● This election highlights India’s leadership in maritime affairs and its commitment to enhancing
global marine navigation safety and sustainability.
Indian Delegation at IALA General Assembly

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 Important Monthly Current Affairs Capsule – February 2025

● A high-level Indian delegation, led by Shri T.K. Ramachandran, Secretary, Ministry of Ports,
Shipping, and Waterways, participated in the ongoing 1st General Assembly of IALA.
● The delegation included:
● Shri Mukesh Mangal – Joint Secretary
● Shri N. Muruganandam – Director General of Lighthouses and Lightships
● Shri S. Saravanan – Deputy Director
● This first General Assembly marks IALA’s transition from a non-governmental organization (NGO)
to an inter-governmental organization (IGO). This shift strengthens its role in harmonizing global
maritime navigation systems and establishing international standards for safe and efficient
navigation.
● India’s Future Role in IALAIndia is set to play a significant role in IALA’s future activities,
including:
● Hosting the IALA Council Meeting – December 2025
● Hosting the IALA Conference & General Assembly – September 2027, Mumbai

India Becomes 2nd Country to Launch Electronic Personnel License (EPL) for Flight Crew
● India has made a significant advancement in modernizing its aviation sector by launching
the Electronic Personnel License (EPL) for flight crew.
● With this initiative, India becomes the second country in the world after China to implement digital
licensing for pilots.
● The EPL was introduced by Civil Aviation Minister K. Rammohan Naidu and is expected
to enhance convenience, transparency, and efficiency in the licensing process.
● This initiative aligns with India’s vision of digital transformation and aviation safety, catering to the
increasing demand for pilots in the country’s rapidly growing aviation industry.
Key Highlights of the EPL Initiative
Global Milestone
● India is the second country globally, after China, to introduce EPL for flight crew.
Launch Details
● Launched by: Civil Aviation Minister Rammohan Naidu
● Regulatory Body: Directorate General of Civil Aviation (DGCA)
Objectives of EPL
● Streamline the licensing process for pilots.
● Enhance safety, security, and efficiency in civil aviation.

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 Important Monthly Current Affairs Capsule – February 2025

● Boost digital transformation in the aviation sector.

Prime Minister Shri Narendra Modi inaugurates the first edition of the SOUL Leadership Conclave
● Prime Minister Shri Narendra Modi inaugurated the first edition of the School of Ultimate
Leadership (SOUL) Leadership Conclave 2025 at Bharat Mandapam, New Delhi.
● Addressing the gathering of distinguished leaders and aspiring young leaders, he emphasized
the importance of leadership in nation-building and the development of excellent leaders across
all fields.
● He highlighted that SOUL is not just a name but the essence of India’s social life, representing a
transformative step toward a Viksit Bharat (Developed India).
● A dedicated SOUL campus will be established near GIFT City, Gujarat, to provide world-class
training for future leaders.
India’s First Zoo-Based Biobank Established at PNHZP, Darjeeling
● India has made a significant advancement in wildlife conservation by setting up the country’s first
zoo-based biobank at Padmaja Naidu Himalayan Zoological Park (PNHZP), Darjeeling, West
Bengal.
● Operational since July 2024, this facility aims to preserve genetic materials of endangered
species.
● Additionally, the zoo has launched an animal museum, enhancing conservation and research
efforts.
● This initiative is in collaboration with the Centre for Cellular and Molecular Biology (CCMB) under
the Ministry of Science and Technology, marking a major milestone in India’s biodiversity
preservation.
Key Features of the Biobank at PNHZP
● Functions as a ‘frozen zoo’ to store DNA, cells, and tissues of endangered species.
● Utilizes cryogenic storage at -196°C using liquid nitrogen to maintain viability for future research,
breeding, and species revival.
● As of February 2025, genetic samples from 60 animals across 23 species have been collected,
focusing on those at high risk of extinction.
● Part of a broader national strategy, with similar biobanks planned for the National Zoological Park
(Delhi) and Nandankanan Zoological Park (Odisha).
● Supports genetic research, disease studies, and conservation efforts, acting as a safeguard
against biodiversity loss due to climate change and habitat destruction.
Prime Minister Narendra Modi to Visit Mauritius as Guest of Honour for National Day Celebrations

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 Important Monthly Current Affairs Capsule – February 2025

● Prime Minister Narendra Modi will visit Mauritius next month to participate as the Guest of
Honour at the country’s National Day celebrations.
● The announcement was made by Mauritian Prime Minister Navin Ramgoolam, who emphasized
that Modi’s presence highlights the deep and historic ties between the two nations.
Mauritius’ National Day: A Historic Occasion
● Mauritius celebrates its National Day on March 12, marking its independence from British rule in
1968.
● The event is a symbol of the country’s sovereignty and progress.
● PM Modi’s presence adds special significance to this year’s celebrations, reinforcing the strong
India-Mauritius relationship.
PM Modi’s Visit: Strengthening Bilateral Ties
● Mauritian PM Navin Ramgoolam called it a “singular privilege” to host Modi despite his tight
diplomatic schedule.
● The visit is a testament to India-Mauritius relations, which span diplomatic, economic, and
cultural cooperation.
● India has played a key role in Mauritius’ development initiatives, infrastructure projects, and
strategic partnerships.
Previous Indian Dignitaries at Mauritius’ National Day
● In 2023, President Droupadi Murmu attended Mauritius’ National Day as the Chief Guest,
reinforcing India’s commitment to fostering strong diplomatic ties.
● Several Indian leaders have participated in past independence celebrations, emphasizing the
historical and cultural connections between the two nations.
India Takes Over Chairmanship of Bay of Bengal Programme Inter-Governmental Organisation (BOBP-
IGO)
● India has officially assumed the Chairmanship of BOBP-IGO from Bangladesh during the 13th
Governing Council Meeting held in Malé, Maldives.
● The transition, attended by representatives from Sri Lanka, Maldives, and Bangladesh, was part
of the “Policy Guidance for Mainstreaming Ecosystem Approach to Fisheries Management
(EAFM) in Small-Scale Fisheries” conference, organized from February 20-22, 2025.
● Leading India’s delegation, Dr. Abhilaksh Likhi, Secretary, Department of Fisheries, Government
of India, took over the chairmanship and reaffirmed India’s commitment to sustainable fisheries,
regional cooperation, and small-scale fishers’ welfare.
● This leadership aligns with India’s vision of ‘Viksit Bharat 2047’, promoting economic growth

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 Important Monthly Current Affairs Capsule – February 2025

while ensuring environmental sustainability.

Hyderabad Hosts International Art Exhibition: “Topographies of Tents, Terracotta, and Time”
● Art lovers in Hyderabad are in for a visual and intellectual experience as Srishti Art
Gallery and Goethe-Zentrum Hyderabad collaborate to present “Topographies of Tents,
Terracotta, and Time.”
● This international exhibition brings together the works of renowned national and international
artists, exploring themes of identity, displacement, and transformation.
An Immersive Artistic Experience
Curated by Matthew Partridge, the exhibition will feature three distinguished artists, each offering unique
perspectives through diverse artistic mediums:
● Arnaldo Drés González (Venezuela/Germany)
● Sudhakar Chippa (India)
● Swen Kählert (Germany)
PM Kisan 19th Installment 2025: Date, Eligibility, and Payment Details
● The Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme, launched in 2019, provides Rs
6,000 per year to small and marginal farmers in three equal installments.
● The 19th installment of PM-KISAN will be released on February 24, 2025, coinciding with
the scheme’s sixth anniversary.
● Prime Minister Narendra Modi will officially release the funds at an event in Bhagalpur, Bihar.
PM Kisan 19th Installment: Key Details
● Installment Release Date: February 24, 2025
● Total Disbursement Amount: Rs 22,000 crore
● Number of Beneficiaries:8 crore farmers
● Amount Per Farmer: Rs 2,000
● Transfer Mode: Direct Benefit Transfer (DBT)
Prime Minister Narendra Modi Inaugurates Global Investors Summit 2025 in Bhopal
● Prime Minister Narendra Modi inaugurated the Global Investors Summit 2025 in Bhopal,
unveiling 18 new industrial policies to establish Madhya Pradesh as a premier investment hub.
● The summit attracted top industrialists and global investors, with a strong emphasis on India’s
role in global supply chains, particularly in aerospace and manufacturing.
● PM Modi highlighted India’s rapid economic rise, citing positive forecasts from the World Bank,
OECD, and the UN.
Presence of Leading Industrialists

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 Important Monthly Current Affairs Capsule – February 2025

The summit saw participation from top business leaders, including:

● Kumar Mangalam Birla (Aditya Birla Group)
● Gautam Adani (Adani Group)
● Nadir Godrej (Godrej Industries)
● Piruz Khambatta (Rasna Private Limited)
● Baba N Kalyani (Bharat Forge)
● Rahul Awasthi (Sun Pharmaceuticals)
● Neeraj Akhouri (ACC Limited)
India’s ‘Desh Ka Prakriti Parikshan Abhiyaan’ Secures Five Guinness World Records
● India has set a new global benchmark in holistic healthcare and Ayurveda with the ‘Desh Ka
Prakriti Parikshan Abhiyaan’, which secured five Guinness World Records. Led by the National
Commission for Indian System of Medicine (NCISM) and supported by the Ministry of Ayush, the
campaign concluded its first phase in Mumbai.
● The initiative highlights India’s commitment to integrating Ayurveda with public health through
mass participation and data-driven healthcare insights.
Guinness World Records Achieved
1. Most pledges received for a health campaign in one week – 6,004,912 pledges (new global
record).
2. Most pledges received for a health campaign in one month – 13,892,976 pledges (broke China’s
previous record of 58,284).
3. Most pledges received for a health campaign (Overall) – 13,892,976 pledges (surpassing India’s
previous record of 569,057).
4. Largest online photo album of people displaying a digital certificate – 62,525 photos (breaking
Accenture India’s record of 29,068).
5. Largest online video album of people saying the same sentence – 12,798 videos (exceeding the
previous Indian record of 8,992).
Indian government’s premier think tank,NITI Aayog’s Initiative to Transform AIIMS and Enhance
Healthcare in India
● NITI Aayog, the Indian government’s premier think tank, has formed a high-level committee to
transform AIIMS New Delhi into a world-class institution for medical research and healthcare
excellence.
● The panel, led by NITI Aayog member VK Paul, will evaluate existing systems, propose reforms,
and set clear timelines for their implementation.

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 Important Monthly Current Affairs Capsule – February 2025

● This initiative aligns with India’s broader efforts to enhance healthcare infrastructure, governance,
and self-sufficiency.
● In addition to AIIMS reform, NITI Aayog is advancing Universal Health Coverage (UHC) and
working on affordable rare disease treatments, partnering with CSEP Research Foundation to
study global healthcare models.
Prime Minister Narendra Modi Inaugurates Advantage Assam 2.0 Investment & Infrastructure Summit
2025
● Prime Minister Narendra Modi inaugurated the Advantage Assam 2.0 Investment & Infrastructure
Summit 2025 in Guwahati, Assam, highlighting the economic transformation of the Northeast and
its role in India’s growth story.
● He emphasised Assam’s potential as a global investment destination, aligning with India’s vision
of Viksit Bharat by 2047.
India Leads Global IPO Market in 2024, Raising $19.5 Billion
● India has emerged as the top global destination for Initial Public Offerings (IPOs) in 2024,
accounting for 23% of all IPOs worldwide and raising $19.5 billion.
● This achievement highlights India’s growing prominence in global financial markets, driven
by economic stability, regulatory reforms, and strong investor confidence.
India’s Record-Breaking IPO Performance
● Total IPOs: 268 (Highest globally)
o Mainboard Listings: 90
o SME Listings: 178
● Largest IPO of 2024 (India):
o Hyundai Motors (India) Pvt Ltd raised ₹27,870 crore ($3.31 billion).
o Second-largest IPO globally in 2024.
● Factors Driving Growth:
o Economic stability & investor confidence.
o Rise in venture-backed IPOs & SME participation.
o Increased domestic & foreign institutional investment.
Kisan Credit Card (KCC) Loans Cross ₹10 Lakh Crore, Doubling Since 2014
● The total amount disbursed under operative Kisan Credit Card (KCC) accounts has more
than doubled from ₹4.26 lakh crore in March 2014 to ₹10.05 lakh crore in December 2024.
● This highlights the expansion of institutional credit in agriculture, reducing reliance on non-
institutional lenders.

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 Important Monthly Current Affairs Capsule – February 2025

Key Highlights
Growth in KCC Loans
● Total KCC loans: ₹10.05 lakh crore (as of Dec 2024).
● Number of farmers benefited: 7.72 crore.
● Increase from 2014: More than double from ₹4.26 lakh crore.
What is the Kisan Credit Card (KCC)?
● A banking product that provides timely and affordable credit to farmers for:
o Purchasing agricultural inputs (seeds, fertilizers, pesticides).
o Crop production and allied activities (animal husbandry, dairy, fisheries).
● Extended in 2019 to cover working capital needs of allied activities.
Government Support Through Interest Subvention
● Modified Interest Subvention Scheme (MISS):
o 1.5% interest subvention provided to banks for short-term agri-loans via KCC.
o Effective interest rate:
▪ 7% annually for loans up to ₹3 lakh.
▪ 4% if repaid on time (due to 3% Prompt Repayment Incentive).
o Collateral-free loans up to ₹2 lakh, ensuring easy credit access for small and marginal
farmers.
Budget 2025-26 Announcement
● Loan limit increase under MISS:
o From ₹3 lakh to ₹5 lakh.
o Expected to provide greater financial support to farmers.
IIT Madras and Indian Railways have launched India’s first hyperloop test track
● IIT Madras, in partnership with Indian Railways, has established India’s inaugural hyperloop test
track within the IIT campus.
● This 422-meter-long facility is designed to test and refine hyperloop technology, paving the way
for ultra-fast intercity travel that could reduce long journeys to just a few minutes.
SWAYATT Initiative on GeM Celebrates 6 Years of Transformative Impact
● The Government e-Marketplace (GeM) marked six years of its Startups, Women & Youth
Advantage through e-Transactions (SWAYATT) initiative at its headquarters in New Delhi.
● Launched on February 19, 2019, SWAYATT was designed to boost the participation of women
entrepreneurs, startups, and youth in public procurement.
GeM-FICCI FLO Partnership

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 Important Monthly Current Affairs Capsule – February 2025

● On this occasion, GeM signed an MoU with the Federation of Indian Chambers of Commerce &
Industry Ladies Organisation (FICCI-FLO), which represents over 9,500 women entrepreneurs.
● The partnership aims to:
o Provide direct access for women entrepreneurs to government buyers without
intermediaries.
o Ensure better product pricing and local job creation.
o Enable training, onboarding, and business linkages for women-led enterprises.
Cali Fund for Fair Benefit-Sharing of Digital Sequence Information (DSI) Launched at COP16 Session
of CBD in Rome
● The Cali Fund for the Fair and Equitable Sharing of Benefits from Digital Sequence Information
on Genetic Resources (DSI) was launched today at the resumed session of COP16 of
the Convention on Biological Diversity (CBD) at the FAO Headquarters in Rome.
● This landmark initiative aims to mobilize private sector funding for biodiversity conservation and
sustainable use.
Union Finance Minister Smt. Nirmala Sitharaman to Preside Over 49th Civil Accounts Day Celebrations
in New Delhi on 1st March 2025
● The 49th Civil Accounts Day will be celebrated on 1st March 2025 in New Delhi, marking
the Foundation Day of the Indian Civil Accounts Service (ICAS).
● Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman, will lead the event.
Key Highlights of the Celebrations
Release of PFMS Compendium
● A compendium titled “Digitalisation of Public Financial Management in India: The Transformative
Decade (2014-24)” will be launched.
Indian Civil Accounts Service:
● Established in 1976 following reforms in public financial administration.
● On March 1, 1976, the President of India promulgated ordinances separating Union Government
accounts from audit functions, leading to the creation of departmentalised accounts.
● Since its inception, ICAS, under the leadership of the Controller General of Accounts (CGA), has
played a key role in financial governance.

INTERNATIONAL NEWS
India and Saudi Arabia Discuss Strengthening Cooperation in Critical Minerals Sector

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 Important Monthly Current Affairs Capsule – February 2025

● India and Saudi Arabia discussed strengthening cooperation in the critical minerals sector,
focusing on investment and technological collaboration.
● Indian Minister of Coal and Mines G. Kishan Reddy met Saudi Arabia's Minister of Industry and
Mineral Resources Bandar Ibrahim Alkhorayef in New Delhi to explore joint ventures and advanced
mining technologies.
● The Geological Survey of India Training Institute was designated a Centre of Excellence under
the Future Minerals Forum to train geologists from Saudi Arabia, Africa, and Central Asia.
About Saudi Arabia:
● Capital: Riyadh
● Currency: Saudi Riyal (SAR)
● Crown Prince & Prime Minister : Mohammed bin Salman

Singapore Enacts Maintenance of Racial Harmony Bill to Safeguard Against Foreign Interference and
Preserve Racial Unity
● Singapore has passed the Maintenance of Racial Harmony Bill aimed at protecting against
foreign interference in its race-based clans and business associations, ensuring the preservation of
racial harmony in the multicultural city-state.
● Under the new law, race-based entities must disclose foreign and anonymous donations, foreign
affiliations, and their leadership.
About Singapore:
● Capital: Singapore
● Currency: Singapore Dollar (SGD)
● President: Tharman Shanmugaratnam
● Prime Minister: Lawrence Wong
●

South Korean Companies Ban Chinese Artificial Intelligence DeepSeek over Security Fears
● Leading South Korean companies and institutions are increasingly restricting the use of
DeepSeek, a Chinese artificial intelligence model, amid concerns over its excessive data collection
practices.
● Kakao, which recently announced a partnership with OpenAI, became the first major South
Korean IT company to prohibit DeepSeek for internal operations.
● This decision stems from security concerns about DeepSeek’s collection of user device
information, IP addresses, and keyboard input patterns, which are stored on servers in China.

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 Important Monthly Current Affairs Capsule – February 2025

About South Korea:

● Capital: Seoul
● Currency: Korean Republic won (KRW)
● President: Yoon Suk-yeol
● Prime Minister: Han Duck-soo

GMR Airports Limited Strengthens Corporate Sustainability with United Nations Global Compact
Membership
● GMR Airports Ltd (GAL) has joined the United Nations Global Compact (UNGC), further
solidifying its commitment to corporate sustainability.
● GAL operates airports in Delhi, Hyderabad, Goa, and Medan (Indonesia), and is involved in the
development of Bhogapuram (Visakhapatnam) and Crete (Greece) airports, while also providing
technical services to Mactan Cebu International Airport (Philippines).
● All GMR-operated airports hold green building certifications from either the US Green Building
Council (USGBC) or the Indian Green Building Council (IGBC).

After United States, Argentina pulls out of World Health Organization, cites ‘deep differences’
● Argentina has announced its decision to withdraw from the World Health Organization (WHO),
following a similar move by the United States under President Donald Trump in January 2025.
● This decision was confirmed by presidential spokesperson Manuel Adorni, who stated that
President Javier Milei instructed Foreign Minister Gerardo Werthein to end Argentina’s participation in
the WHO.
● Milei, a libertarian and vocal Trump ally, cited “deep differences” with the WHO, particularly over
its management of health issues such as the COVID-19 pandemic.
About the World Health Organization (WHO):
● Headquarters: Geneva, Switzerland
● Founded: April 7, 1948
● Director-General: Dr. Tedros Adhanom Ghebreyesus
● Membership: 194 member states
About Argentina:
● Capital: Buenos Aires
● Currency: Argentine Peso (ARS)
● President: Javier Milei

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 Important Monthly Current Affairs Capsule – February 2025

● Vice President: Victoria Eugenia Villarruel

Chinese scientists build the world’s first deep-sea radar that detects high-flying aircraft
● China has developed the world’s 1st deep-sea radar system capable of detecting and
tracking high-altitude aircraft from a depth of 1,000 metres underwater.
● This system marks a significant advancement in anti-submarine warfare, potentially transforming
submarines from prey to predators.
● The system uses an acoustic sensor array deployed on the seabed to capture faint sound waves
emitted by aircraft.
About China:
● Capital: Beijing
● Currency: Renminbi (CNY)
● President: Xi Jinping
● Prime Minister: Li Qiang
Sri Lanka records highest deflation in 65 years
● Sri Lanka's 12-month consumer prices deflated by 4.0% in December 2024, while the Colombo
Consumer Price Index (CCPI) increased by 0.5%, reaching 192.6 points, similar to April 2023 levels.
● The central bank's deflationary policies since late 2022, including pegged exchange rate
management and mopping up inflows, halted inflation from September 2022.
● The Sri Lankan rupee appreciated from 360 to 300, reducing the prices of traded goods, fuel, and
electricity.
About Sri Lanka:
● Capital: Sri Jayawardenepura Kotte (Administrative), Colombo (Commercial)
● Currency: Sri Lankan Rupee (LKR)
● President: Anura Kumara Dissanayake
● Prime Minister: Harini Amarasuriya
Niger becomes the first African country to eradicate Onchocerciasis (river blindness)
● Niger has been acknowledged by the World Health Organization (WHO) for
eliminating onchocerciasis (river blindness), making it the 5th country globally and the first in Africa to
achieve this milestone.
● Onchocerciasis is the second leading infectious cause of blindness worldwide, after trachoma.
● The disease is caused by the parasite Onchocerca volvulus, transmitted through the bites of
infected black flies, primarily found in riverine areas.

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 Important Monthly Current Affairs Capsule – February 2025

About Nigeria:
● Capital: Abuja
● Currency: Nigerian naira (NGN)
● President: Bola Ahmed Tinubu
President Donald J. Trump Imposes Tariffs on Imports from Canada, Mexico and China
● President Donald Trump has declared a national emergency under the International Emergency
Economic Powers Act (IEEPA) due to illegal immigration and drug trafficking, particularly fentanyl.
● A 25% additional tariff is imposed on imports from Canada and Mexico.
● A 10% additional tariff is imposed on imports from China.
● Energy resources from Canada will have a lower 10% tariff.
About USA:
• Capital: Washington, D.C.
• Currency: United States Dollar (USD)
• President: Donald Trump
• Vice President: JD Vance
Sri Lanka Marks the 77th Independence Day with a National Ceremony
● Sri Lanka is celebrating its 77th National Day on February 4th, 2025 with official celebrations held
at Independence Square in Colombo, featuring a military parade, cultural performances, and a special
address by President Anura Kumara Dissanayake.
● The president urged Sri Lankans to focus on building a modern, progressive future rather than
dwelling on past challenges and pledged to resolve the country's economic issues within his 5-year
term.
About Sri Lanka:
● Capital: Sri Jayawardenepura Kotte (Administrative), Colombo (Commercial)
● Currency: Sri Lankan Rupee (LKR)
● President: Anura Kumara Dissanayake
● Prime Minister: Harini Amarasuriya
United Kingdom to become 1st country to criminalise Artificial Intelligence child abuse tool
● The United Kingdom will be the first country to introduce laws against AI-generated sexualised
images of children.
● The law makes it illegal to possess, create, or distribute AI tools that generate abusive images,
with punishments up to five years in prison.

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 Important Monthly Current Affairs Capsule – February 2025

● Possessing AI "paedophile manuals" that teach how to use AI for child abuse will be a crime
punishable by up to three years in prison.
About the United Kingdom:
• Capital: London
• Currency: Pound Sterling (GBP)
• Monarch: King Charles III
• Prime Minister: Keir Starmer

United Kingdom Business & Trade Secretary Jonathan Reynolds to visit India in February, 2025 to
restart trade deal talks
● Jonathan Reynolds, United Kingdom (UK’s) Secretary of State for Business and Trade, to visit
India in February 2025 to accelerate FTA negotiations.
● The announcement was made at India Global Forum's (IGF) 7th Annual UK-India Parliamentary
Lunch at the House of Lords.
● UK Prime Minister Sir Keir Starmer had earlier declared the relaunch of FTA talks with Indian PM
Narendra Modi at the G20 Summit in November 2024.
●

About United Kingdom:

• Capital: London
• Currency: Pound Sterling (GBP)
• Monarch: King Charles III
• Prime Minister: Keir Starmer

Burkina Faso, Mali, Niger Officially Leave West Africa's Economic Community of West African States
(ECOWAS) Bloc
● The Economic Community of West African States (ECOWAS) has formally recognized the
withdrawal of Niger, Mali, and Burkina Faso after prolonged tensions.
● The bloc urged its 12 remaining members to continue recognizing passports and trade
agreements with the departing nations.
● ECOWAS President Omar Touray emphasized regional solidarity and invited the three nations to
a technical meeting for discussions.
● The fallout began after Niger’s July 2023 coup, leading to ECOWAS threatening military
intervention and demanding the reinstatement of Mohamed Bazoum.

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 Important Monthly Current Affairs Capsule – February 2025

About Economic Community of West African States :

● ECOWAS, founded in 1975, faces growing instability due to multiple military takeovers in the
region.
● Headquarters : Abuja, Nigeria
● Chairman : Bola Ahmed Tinubu
● President of the Commission : Omar Touray
United States President Donald Trump Signs Order to Leave United Nations Human Rights Council,
Citing ‘Unethical Practices’
• United States President Donald Trump signed an executive order to withdraw the United States
from the United Nations Human Rights Council (UNHRC), citing unethical practices by certain
"outlier" countries within the UN.
• He criticized the disproportionate financial burden on the U.S., stating that other nations exploit
the UN system for their self-interest.
• The executive order also halts U.S. funding for the United Nations Relief and Works Agency
(UNRWA), the primary UN body providing aid to Palestinian refugees.
About UNHRC :
• The UNHRC, a 47-member body, meets annually in Geneva, Switzerland, to address global
human rights issues.
• Established in 2006, it serves as a platform for discussions among UN officials, member states,
and experts.
• The UN Human Rights Office is headquartered in Geneva, Switzerland.
• Filippo Grandi currently serves as the 11th United Nations High Commissioner for Refugees
(UNHCR).
About USA:
• Capital: Washington, D.C.
• Currency: United States Dollar (USD)
• President: Donald Trump
• Vice President: JD Vance

Global leaders meet in Paris for Artificial Intelligence summit as tech giants vie for industry dominance
• The “Summit for Action on Artificial Intelligence” has officially begun in Paris, with Indian Prime
Minister Narendra Modi and French President Emmanuel Macron co-chairing the high-profile
event.

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 Important Monthly Current Affairs Capsule – February 2025

• The summit includes heads of state, top government officials, CEOs, and scientists from around
100 countries.
• Notable attendees include US Vice President JD Vance, Chinese Vice Premier Zhang Guoqing,
and French President Emmanuel Macron.
About France:
• Capital: Paris
• Currency: Euro (EUR)
• President: Emmanuel Macron
• Prime Minister: François Bayrou

World of Coffee Dubai 2025: Fourth Edition Set for February 10-12 at Dubai World Trade Centre
(DWTC)
• The 4th edition of World of Coffee Dubai will take place from February 10 – 12, 2025, at the
Dubai World Trade Centre (DWTC).
• This year’s event is the largest to date, with a 33% increase in exhibition space, covering 20,000
square meters.
• More than 1,650 exhibitors from 120 countries will participate, with over 13,000 coffee
professionals expected to attend.
• New features include the Intro to Cupping Workshop and the Dubai Coffee Auction.
About UAE:
• Capital: Abu Dhabi.
• Currency: United Arab Emirates dirham (AED).
• President: Sheikh Mohamed bin Zayed Al Nahyan.
• Prime Minister: Sheikh Mohammed bin Rashid Al Maktoum (also the ruler of Dubai).

Bangladesh government launches ‘Operation Devil Hunt’ to weed out ‘destabilising’ forces after fresh
violence
• Operation Devil Hunt was launched by Bangladesh's interim government in response to attacks
on protesters allegedly carried out by supporters of former Prime Minister Sheikh Hasina’s
Awami League party.
• Over 1,300 people were detained in two days after the launch of the operation.
• The operation led to the arrest of Chayan Islam, a former MP of Sirajganj-6, and Awami League
members.

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 Important Monthly Current Affairs Capsule – February 2025

• Gazipur Police made at least 100 arrests on the second day of the operation.
• The operation aims to restore order and ensure public safety across Bangladesh.
About Bangladesh:
• Capital: Dhaka.
• Currency: Bangladeshi Taka (BDT).
• President: Mohammad Shahabuddin

India – France Joint Statement on the visit of Shri Narendra Modi, Hon’ble Prime Minister of India to
France
• This was Prime Minister Modi’s 6th visit to France and follows President Macron’s visit to India in
January 2024 as the Chief Guest for the 75th Republic Day of India.
• Prime Minister Modi and President Macron held bilateral discussions on the entire gamut of the
exceptionally strong and multifaceted bilateral cooperation and on global and regional matters.
• They jointly inaugurated India’s Consulate General in Marseille.
• They also visited the International Thermonuclear Experimental Reactor facility.
• Co-chaired by France and India, the summit aimed to build on previous AI summits (Bletchley
Park 2023, Seoul 2024).
About France:
• Capital: Paris
• Currency: Euro (EUR)
• President: Emmanuel Macron
• Prime Minister: François Bayrou
Bilateral Trade Between India and Qatar Set to Reach $28 Billion
● India and Qatar have elevated their bilateral relationship to a strategic partnership following talks
between Prime Minister Narendra Modi and Amir Sheikh Tamim Bin Hamad Al-Thani.
● Both countries have agreed to double bilateral trade from $14 billion to $28 billion over the next
five years.
● Two agreements were signed: a Strategic Partnership Agreement to enhance cooperation
in trade, energy security, and international forums, and a Revised Double Taxation Avoidance
Agreement to strengthen economic collaboration.
India and Australia Strengthen Space Collaboration Through PRISM (Perspectives on Regulatory
Issues in Strategic Markets) 2.0 Dialogue
● India and Australia continue to enhance cooperation in the space sector through strategic

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 Important Monthly Current Affairs Capsule – February 2025

discussions aimed at addressing regulatory and market challenges.

● As part of these efforts, SIA-India and SIA-Australia jointly hosted PRISM (Perspectives on
Regulatory Issues in Strategic Markets) 2.0 on February 20, 2025.
● The webinar focused on export controls, technology transfer, and R&D cooperation to support
industry-level partnerships.
● The PRISM initiative, launched by SIA-India, seeks to address trade barriers in strategic
sectors such as space and dual-use technologies.
● PRISM 1.0, held in November 2024, concentrated on India-U.S. export control regulations,
while PRISM 2.0 aimed to advance India-Australia space collaboration.

STATE NEWS
Telangana Cabinet approved the Socio, Caste, Economic, Education, Employment and Political Survey
report
● Telangana's caste survey data was released on February 3 and presented in the state assembly
on February 4.
● Non-Muslim OBCs make up 46.25% and Muslim OBCs 10.08% of Telangana's population.
● Scheduled Castes constitute 17.43%, and Scheduled Tribes 10.45%.
● The survey revealed that 2.48% of Muslims don't claim OBC status.
● Muslim OBCs face poverty levels reflecting their caste status; Telangana Muslims have 4%
reservation.
About Telangana:
● Capital: Hyderabad
● Governor: Jishnu Dev Varma
● Chief Minister: Anumula Revanth Reddy
● National Parks: Kasu Brahmananda Reddy National Park, Mrugavani National Park, Mahavir
Harina Vanasthali National Park
● Wildlife Sanctuaries: Kawal Wildlife Sanctuary, Pocharam Wildlife Sanctuary, Manjira Wildlife
Sanctuary

Rajasthan Cabinet approves textile and apparel policy, data centre policy and logistics policy
● The Rajasthan Cabinet chaired by Chief Minister Bhajanlal Sharma took several important
decisions, including a new textile and apparel policy, data center policy, and logistics policy to promote
industrial and economic development in the state.

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 Important Monthly Current Affairs Capsule – February 2025

● The Rajasthan Textile and Apparel Policy-2025 aims to establish the state as a global
manufacturing hub, fostering employment generation, skill development, innovation, productivity, and
exports.
About Rajasthan:
● Capital: Jaipur
● Governor: Haribhau Bagade
● Chief Minister: Bajan Lal Sharma
● National Parks: Ranthambhore National Park, Sariska Tiger Reserve, Keoladeo National Park
(Bharatpur Bird Sanctuary), Desert National Park
● Wildlife Sanctuaries: Kumbhalgarh Wildlife Sanctuary, Darrah Wildlife Sanctuary, Ranthambore
Wildlife Sanctuary, Bassi Wildlife Sanctuary
16th Finance Commission Receives Tripura’s Proposal on Revenue Distribution
● The Tripura government presented two key demands to the 16th Finance Commission (FC-
XVI) regarding the horizontal distribution of resources among states.
● The state demanded the introduction of an infrastructure index and international border as new
criteria for revenue distribution, considering Tripura’s geographic location.
● Tripura also sought an increase in its tax devolution share from the current 42% to 50%.
About Tripura:
● Capital: Agartala
● Chief Minister: Manik Saha
● Governor: N. Indrasena Reddy
● National Parks: Sepahijala Wildlife Sanctuary, Trishna Wildlife Sanctuary
● Wildlife Sanctuaries: Rishyamukh Wildlife Sanctuary, Jampui Hill Wildlife Sanctuary
Kerala to Implement E-Way Bill for Gold from January 20, 2025
● The Goods and Services Tax Network (GSTN) has introduced a new E-Way Bill (EWB) feature
exclusively for gold in Kerala, effective January 20, 2025.
● This initiative aims to regulate the intrastate movement of gold while preventing tax evasion in the
sector.
● The new feature applies to goods classified under Chapter 71 of the Harmonized System of
Nomenclature (HSN), excluding imitation jewellery (HSN 7117).
● The Government of Kerala has issued a notification making it mandatory for taxpayers to
generate an EWB for gold transportation within the state.
About Kerala:

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 Important Monthly Current Affairs Capsule – February 2025

● Chief Minister: Pinarayi Vijayan

● Governor: Rajendra Vishwanath Arlekar
● Capital: Thiruvananthapuram
● National Parks: Eravikulam National Park, Periyar Wildlife Sanctuary, Silent Valley National Park,
Parambikulam Tiger Reserve
● Wildlife Sanctuaries: Wayanad Wildlife Sanctuary, Idukki Wildlife Sanctuary, Chilika Lake Wildlife
Sanctuary
Gujarat village’s inland mangrove to be state’s first Biodiversity Heritage Site
● The 32.78-hectare area of Guneri village in Lakhtar tehsil, Kutch district, has been declared
as Gujarat's first Biodiversity Heritage Site (BHS).
● The site is a natural inland mangrove area.
● The Gujarat government made the announcement based on a recommendation from the Gujarat
Biodiversity Board.
About Gujarat:
● Chief Minister: Bhupendra Patel
● Governor: Acharya Devvrat
● Capital: Gandhinagar
● National Parks: Gir National Park, Blackbuck National Park, Vansda National Park, Marine
National Park
● Wildlife Sanctuaries: Nal Sarovar Bird Sanctuary, Velavadar Blackbuck Sanctuary, Kutch Desert
Wildlife Sanctuary, Barda Wildlife Sanctuary, Purna Wildlife Sanctuary
Jammu & Kashmir Introduces Geo-Tagging for Chinar Trees Under “Tree Aadhaar” Mission
● The Jammu & Kashmir government has launched the “Tree Aadhaar” mission to conserve the
declining chinar trees.
● The initiative involves conducting a census and assigning a unique identity to each chinar tree for
better monitoring and protection.
● The chinar tree is the state tree of Jammu & Kashmir, now a Union Territory.
● The oldest surviving chinar tree, around 700 years old, is located in Chattergam village, Budgam,
central Kashmir, and was planted by a Sufi saint.
About Jammu & Kashmir:
● Chief Minister: Omar Abdullah
● Lieutenant Governor: Manoj Sinha
● Capital: Srinagar (Summer), Jammu (Winter)

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 Important Monthly Current Affairs Capsule – February 2025

● National Parks: Dachigam National Park, Hemis National Park, Kishtwar National Park
● Wildlife Sanctuaries: Overa-Aru Wildlife Sanctuary, Gulmarg Wildlife Sanctuary, Nandini Wildlife
Sanctuary, Surinsar-Mansar Wildlife Sanctuary
Maharashtra to launch India’s first Artificial Intelligence university
● Maharashtra to establish India’s first Artificial Intelligence (AI) university, announced by IT
Minister Ashish Shelar with an Aim to position Maharashtra as a hub for AI education, research, and
innovation.
● A task force formed, including experts from academia, industry, and government.
● The university will serve as a centre of excellence for AI research, skill development, and policy
formulation.
About Maharashtra:
● Chief Minister: Devendra Fadnavis
● Governor: C. P. Radhakrishnan
● Capital: Mumbai
● National Parks: Tadoba National Park, Sanjay Gandhi National Park, Chandoli National Park,
Gugamal National Park, Navegaon National Park
● Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Koyna Wildlife Sanctuary, Karnala Bird
Sanctuary, Melghat Wildlife Sanctuary, Radhanagari Wildlife Sanctuary
Amazon, Uttar Pradesh Government Collaborate to Boost Women Entrepreneurs in Gonda
● Amazon India has partnered with Uttar Pradesh’s ARGA initiative to support women
entrepreneurs in Gonda through its Saheli programme.
● The initiative helps small businesses access digital tools and e-commerce opportunities to
expand their reach.
● Amazon India will provide training on digital marketing, product listing optimization, advertising,
and data analytics to improve online sales.
● The program aims to strengthen rural entrepreneurship by addressing challenges like packaging
and marketing.
About Uttar Pradesh:
● Chief Minister: Yogi Adityanath
● Governor: Anandiben Patel
● Capital: Lucknow
● National Parks: Dudhwa National Park, Hastinapur Wildlife Sanctuary

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 Important Monthly Current Affairs Capsule – February 2025

● Wildlife Sanctuaries: Sur Sarovar Bird Sanctuary, Kaimur Wildlife Sanctuary, Sonanadi Wildlife
Sanctuary, Samaspur Bird Sanctuary, Sikramjheel Bird Sanctuary

Sikkim’s PM Shri Government school Namchi becomes Northeast’s only Green-Rated School
● PM Shri Government Senior Secondary School in Namchi, Sikkim has been recognized as the
only educational institution in the Northeastern states to receive a Green School Rating.
● This recognition was awarded at the Green Carnival and Green School Award Ceremony 2025,
organized by the Centre for Science and Environment (CSE) in New Delhi.
● The awards are presented to schools rated ‘green’ after evaluating the Green School Audit
reports submitted by schools in the Green School Programme Network.
About Sikkim:
● Chief Minister: Prem Singh Tamang
● Governor: Om Prakash Mathur
● Capital: Gangtok
● National Parks: Khangchendzonga National Park
● Wildlife Sanctuaries: Fambong Lho Wildlife Sanctuary, Kyongnosla Alpine Sanctuary, Maenam
Wildlife Sanctuary

Bhutan Prime Minister Dasho Tshering Tobgay to Lead Delegation at Bengal Global Business Summit
2025
● Bhutan's Prime Minister Dasho Tshering Tobgay to visit Kolkata for the Bengal Global Business
Summit (BGBS) 2025.
● The summit, organized by the West Bengal government, will be held on February 5-6, 2025.
● BGBS 2025 focuses on strengthening trade ties between Bhutan and India.
● Bhutan will showcase its products and services and hold a country session.
About West Bengal:
● Chief Minister: Mamata Banerjee
● Governor: C. V. Ananda Bose
● Capital: Kolkata
● National Parks: Sundarbans National Park, Jaldapara National Park, Buxa National Park,
Gorumara National Park, Neora Valley National Park
● Wildlife Sanctuaries: Sajnekhali Wildlife Sanctuary, Bibhutibhushan Wildlife Sanctuary,
Bethuadahari Wildlife Sanctuary, Ballavpur Wildlife Sanctuary, Haliday Island Wildlife Sanctuary

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 Important Monthly Current Affairs Capsule – February 2025

New Delhi World Book Fair 2025 begins on February 1, 2025 at Bharat Mandapam, celebrating India’s
'Republic@75'
● The New Delhi World Book Fair 2025 will be held from February 1 to 9, 2025, at Bharat
Mandapam, Pragati Maidan, New Delhi (Halls 2-6, Ground Floor).
● The event will be inaugurated by President Droupadi Murmu, who will also serve as the chief
guest.
● The theme for this year’s fair is "Republic@75," highlighting nation-building, governance,
freedom, equality, and social justice.
About Delhi:
● Chief Minister: Atishi Marlena
● Lieutenant Governor: Vinai Kumar Saxena
● Capital: New Delhi
● Wildlife Sanctuaries: Asola Bhatti Wildlife Sanctuary, Yamuna Biodiversity Park, Aravalli
Biodiversity Park

Andhra Pradesh Launches ‘Mana Mitra’, India’s First WhatsApp-Based Governance Platform for Digital
Public Services
● The Andhra Pradesh government has launched ‘Mana Mitra’, a WhatsApp-based governance
platform aimed at providing citizens with digital access to government services.
● The initiative, introduced by State Education and IT Minister Nara Lokesh, is designed to simplify
processes like obtaining certificates, paying bills, and accessing civic services.
● The platform allows residents to access various government services by sending a simple “Hi”
message to an official WhatsApp number.
● The government plans to connect 36 departments in the first phase, with 161 services available
initially.
About Andhra Pradesh:
● Chief Minister: N. Chandrababu Naidu
● Governor: S. Abdul Nazeer
● Capital: Amaravati
● National Parks: Sri Venkateswara National Park, Papikonda National Park
● Wildlife Sanctuaries: Coringa Wildlife Sanctuary, Pulicat Lake Bird Sanctuary, Kambalakonda
Wildlife Sanctuary, Rollapadu Wildlife Sanctuary, Krishna Wildlife Sanctuary

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 Important Monthly Current Affairs Capsule – February 2025

Central Zoo Authority approves white tiger breeding centre in Madhya Pradesh’s Rewa District
• The Central Zoo Authority (CZA) has granted approval for the establishment of a white tiger
breeding centre in Rewa district, Madhya Pradesh.
• The centre will be set up in Govindgarh, aligning with Prime Minister Narendra Modi’s vision for
environmental conservation and sustainable development.
• Rewa holds historical significance in white tiger conservation, as India’s first white tiger, Mohan,
was discovered there in 1951.
• The project aims to preserve this legacy while strengthening biodiversity and conservation
efforts.
About Madhya Pradesh:
• Chief Minister: Mohan Yadav
• Governor: Mangubhai Chhaganbhai Patel
• Capital: Bhopal
• National Parks: Kanha National Park, Bandhavgarh National Park, Pench National Park, Panna
National Park.
• Wildlife Sanctuaries: Bori Wildlife Sanctuary, Gandhi Sagar Wildlife Sanctuary, Ken Gharial
Sanctuary, Kuno Wildlife Sanctuary.

Odisha Demands 50% Central Tax Share and Full Funding for State Disaster Response Fund from
Finance Commission
• The Odisha government submitted a demand before the 16th Finance Commission to increase
the states’ share in central taxes to 50%.
• Additionally, it sought 100% funding of the State Disaster Response Fund (SDRF) by the Centre.
• Currently, an 8-member team of the 16th Finance Commission, headed by Dr. Arvind
Panagariya, is on a four-day visit to Odisha, holding discussions with state government officials
and political parties regarding the state’s demands and requirements.
About Odisha:
• Chief Minister: Mohan Charan Majhi
• Governor: Hari Babu Kambhampati
• Capital: Bhubaneswar
• National Parks: Simlipal National Park, Bhitarkanika National Park

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 Important Monthly Current Affairs Capsule – February 2025

• Wildlife Sanctuaries: Chandaka Wildlife Sanctuary, Nandankanan Zoological Park, Kuldiha

Wildlife Sanctuary, Debrigarh Wildlife Sanctuary, Kotagarh Wildlife Sanctuary, Lakhari Valley
Wildlife Sanctuary, Baisipalli Wildlife Sanctuary

Kerala to borrow Rs 2424.28 Crore from World Bank for 'Health System Improvement Program'
• The Kerala government approved the Kerala Health System Improvement Programme by
availing a loan of Rs 2,424.28 crore from the World Bank.
• The state Cabinet meeting, chaired by Chief Minister Pinarayi Vijayan, granted approval and
decided to implement the project under the Programme for Results (P for R) model.
• The main objective of the programme is to ensure an excellent standard of living and life
expectancy while helping the people of the state build a life free from preventable diseases,
accidents, and premature deaths.
About World Bank:
• The World Bank is an international financial institution that provides loans and grants to the
governments of low and middle-income countries for the purpose of pursuing capital projects.
• The World Bank consists of five institutions: The International Bank for Reconstruction and
Development (IBRD), The International Development Association (IDA), The International
Finance Corporation (IFC), The Multilateral Investment Guarantee Agency (MIGA), and The
International Centre for Settlement of Investment Disputes (ICSID).
• Founded Year: 1944
• Headquarters: Washington, D.C., United States
• President: Ajay Banga
• Members:189 countries
About Kerala:
• Chief Minister: Pinarayi Vijayan
• Governor: Rajendra Vishwanath Arlekar
• Capital: Thiruvananthapuram
• National Parks: Eravikulam National Park, Periyar Wildlife Sanctuary, Silent Valley National Park,
Parambikulam Tiger Reserve
• Wildlife Sanctuaries: Wayanad Wildlife Sanctuary, Idukki Wildlife Sanctuary, Chilika Lake Wildlife
Sanctuary

Government of Odisha Rolls Out 'Antyodaya Gruha Yojana' to Support Economically Weaker Sections

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 Important Monthly Current Affairs Capsule – February 2025

• The Odisha government has decided to implement the Unified Pension Scheme (UPS),
‘Antyodaya Gruha Yojana’ for economically weaker sections of society.
• Employees can choose between UPS and National Pension System (NPS).
• Pension benefits include 50% of average basic pay (last 12 months before retirement) for those
with 25+ years of service.
• Minimum pension amount set at ₹10,000 for retirees with at least 10 years of service.
• Family pension benefits include 60% of the pension amount drawn by the deceased retiree.
About Odisha:
• Chief Minister: Mohan Charan Majhi
• Governor: Hari Babu Kambhampati
• Capital: Bhubaneswar
• National Parks: Simlipal National Park, Bhitarkanika National Park
• Wildlife Sanctuaries: Chandaka Wildlife Sanctuary, Nandankanan Zoological Park, Kuldiha
Wildlife Sanctuary, Debrigarh Wildlife Sanctuary, Kotagarh Wildlife Sanctuary, Lakhari Valley
Wildlife Sanctuary, Baisipalli Wildlife Sanctuary

Haryana’s ‘Har Khet-Swasth Khet’ Campaign Aims to Provide Soil Health Cards to All Farmers
• The ‘Har Khet-Swasth Khet’ campaign aims to collect soil samples from every acre of Haryana
and provide farmers with soil health cards.
• The target is to achieve this within the next 3-4 years.
• So far, 70 lakh soil samples have been collected.
• 55 lakh soil samples have been analyzed.
• 86.65 lakh soil health cards have been distributed under the Soil Health Card Scheme.
About Haryana:
• Chief Minister: Nayab Singh Saini
• Governor: Bandaru Dattatreya
• Capital: Chandigarh
• National Parks: Sultanpur National Park, Kalesar National Park
• Wildlife Sanctuaries: Bhindawas Wildlife Sanctuary, Kalesar Wildlife Sanctuary, Nahar Wildlife
Sanctuary
Gujarat government unveils policy for setting up 250 new Global Capability Centres
• Gujarat's Global Capability Centre (GCC) Policy 2025-30 was unveiled by Chief Minister
Bhupendra Patel at GIFT City on February 11, 2025.

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 Important Monthly Current Affairs Capsule – February 2025

• The policy aims to attract 250 new GCCs, generate over 50,000 jobs, and bring in ₹10,000 crore
in investments.
• Companies setting up GCCs in Gujarat will receive capital expenditure support of up to ₹200
crore, depending on the scale of investment. Additionally, operational expenditure assistance of
up to ₹40 crore is assured.
About Gujarat:
• Chief Minister: Bhupendra Patel
• Governor: Acharya Devvrat
• Capital: Gandhinagar
• National Parks: Gir National Park, Blackbuck National Park, Vansda National Park, Marine
National Park
• Wildlife Sanctuaries: Nal Sarovar Bird Sanctuary, Velavadar Blackbuck Sanctuary, Kutch Desert
Wildlife Sanctuary, Barda Wildlife Sanctuary, Purna Wildlife Sanctuary

Assam set to host world's largest Jhumur dance festival: Himanta Biswa Sarma
• Assam will host the world's largest Jhumur dance (also called Jhumoir) on 24th February, in the
presence of Prime Minister Narendra Modi.
• The performance aims to set a Guinness World Record, featuring over 7,500 dancers and
artistes.
• The two-day investment summit Advantage Assam will take place on February 25-26,
showcasing Assam's rich traditions and attracting investors.
• The event is a platform to promote Assam’s culture and position the state as a new investment
destination.
About Assam:
• Chief Minister: Himanta Biswa Sarma
• Governor: Lakshman Prasad Acharya
• Capital: Dispur
• National Parks: Kaziranga National Park, Manas National Park, Dibru-Saikhowa National Park
• Wildlife Sanctuaries: Pobitora Wildlife Sanctuary, Orang National Park, Bura-Chapori Wildlife
Sanctuary, Nameri Wildlife Sanctuary
Madhya Pradesh Introduces India’s First Global Capability Centre (GCC) Policy 2025
● Madhya Pradesh becomes the first state in India to introduce the Global Capability Centre Policy
2025.

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 Important Monthly Current Affairs Capsule – February 2025

● Aims to position the state as a global hub for innovation and collaboration.
● It Supports decentralization by encouraging businesses to expand beyond metro cities into tier-2
cities.
Key Highlights:
● The GCC Policy 2025 offers incentives for capital expenditure, payroll, upskilling, and R&D, with
a focus on IT, finance, engineering, HR, AI, and cybersecurity.
● The policy aims to attract 50+ GCCs and create 37,000+ direct jobs. Infrastructure development
includes five SEZs and 15+ IT parks, with key cities like Indore, Bhopal, and Jabalpur playing a
central role.
● Over 50,000 tech graduates annually from 300+ engineering colleges ensure a skilled workforce.
Karnataka Launches Clean Mobility Policy to Become a Green Transportation Hub
● The Energy Department of Karnataka introduced the Clean Mobility Policy 2025–2030 to
establish the state as a hub for green transportation.
● It was launched by Energy Minister K.J. George at the Global Investors’ Meet.
● ₹25,000 crore has already been secured in the EV value chain investments, which
include battery pack manufacturing, cell production, OEMs (Original Equipment
Manufacturers), charging infrastructure, and research & development.
● An additional ₹15,000 crore is expected by August 31, 2025, according to Industries Minister MB
Patil.
● The targets include ₹50,000 crore in investments in the clean mobility sector, which is expected
to create one lakh new jobs across the state.
● The Comprehensive Clean Mobility Policy (CMP) incorporates the EV policy, which was set to
expire in 2027.
West Bengal Launches “Nodi Bandhan” Scheme to Combat Disasters and Boost Livelihoods
● The West Bengal government has launched the “Nodi Bandhan” initiative as part of its 2025-26
budget, aiming to address natural disasters and generate employment opportunities.
● The name “Nodi Bandhan” was personally coined by Chief Minister Mamata Banerjee.
● Introduced as part of the 2025-26 budget, the “Nodi Bandhan” (River Bond) scheme aims to
combat natural disasters while generating employment opportunities.
● Focuses on interconnecting rivers and wetlands to promote sustainable development and
mitigate environmental challenges.
● Aligns with the state’s commitment to flood prevention, river erosion control, and economic
growth.

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 Important Monthly Current Affairs Capsule – February 2025

Arunachal Pradesh cabinet approves schemes for Women, Youth, and State Development
● Chief Minister Pema Khandu along with his Council of Ministers and chief secretary released
the Deputy Commissioners’ Conference (DCC) Outcome Report after a Cabinet meeting.
● The DCC was held on January 16 and 17 last on 6 themes– Swasth Arunachal, Shikshit
Arunachal, Smriddh Arunachal, Surakshit Arunachal, Swachh Arunachal and Sundar
Arunachal and 4 special sessions on forest clearance, land acquisition, saturation of the
schemes and the role of guardian ministers and mentor secretaries.
● This 4th Cabinet Aapke Dwar meeting was an initiative of Team Arunachal Govt. When the CM
authorized 38 agenda items, the highest is state’s history, for discussion and decision-making to
facilitate state’s overall development.
● Arun Parivar Patra: The Cabinet approved The Arunachal Pradesh Arun Parivar Patra Authority
Bill, 2025 to set up a family centric citizen data base for the state and would streamline delivery
of public welfare schemes and services after enactment.
● ITA: In a significant step towards evidence-based governance and strategic planning, setting up
of Institute for Transforming Arunachal (ITA) was approved to serve as premier policy think tank,
providing research-backed advisory support, policy recommendations and strategic direction to
accelerate socio-economic development.
About Arunachal Pradesh:
● Chief Minister: Pema Khandu
● Governor: D. Mishra
● Capital: Itanagar
● National Parks: Namdapha National Park, Mouling National Park, Mehao Wildlife Sanctuary,
Eaglenest Wildlife Sanctuary,
● Wildlife Sanctuaries: Pakke Tiger Reserve, Kamlang Wildlife Sanctuary, Dampa Tiger Reserve,
Daying Ering Wildlife Sanctuary

Kerala Health Department Launches nPROUD (New Programme for Removal of Unused Drugs)
initiative
● In a first-of-its-kind initiative in India, the Kerala Drugs Control Department is set to launch a
programme for the collection and scientific disposal of expired and unused medicines.
● The Kerala government is set to launch ‘nPROUD’ (New Programme for Removal of Unused
Drugs), a pioneering initiative aimed at the scientific
collection and disposal of expired and unused medicines.

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 Important Monthly Current Affairs Capsule – February 2025

● This program, the first of its kind at the government level in India, addresses the critical issue
of improper disposal of pharmaceuticals, which can lead to antimicrobial resistance, health
hazards, and environmental pollution.
● Under nPROUD, facilities will be established to collect unused medicines from households,
allowing residents to deposit them at designated collection points.
● The project will initially roll out in Kozhikode Corporation and Ulliyeri Panchayat, with plans
for statewide expansion.
● The collected medicines will be processed at the Kerala Enviro Infrastructure Limited (KEIL)
waste treatment plant, ensuring environmentally safe disposal.
● The official inauguration of nPROUD is scheduled for February 22 in Kozhikode, led by Health
Minister Veena George.
About Kerala:
● Chief Minister: Pinarayi Vijayan
● Governor: Rajendra Vishwanath Arlekar
● Capital: Thiruvananthapuram
● National Parks: Eravikulam National Park, Periyar Wildlife Sanctuary, Silent Valley National Park,
Parambikulam Tiger Reserve
● Wildlife Sanctuaries: Wayanad Wildlife Sanctuary, Idukki Wildlife Sanctuary, Chilika Lake Wildlife
Sanctuary

Inland water transport terminal to boost India-Bhutan-Bangladesh ties inaugurated in Assam

● In a significant boost to India’s Act East policy, the Inland Waterways Transport (IWT)
Terminal at Jogighopa in Assam was inaugurated on February 18, 2025.
● The ceremony was led by Union Minister of Ports, Shipping & Waterways, Sarbananda Sonowal,
alongside Bhutan’s Finance Minister, Lyonpo Namgyal Dorji.
● This state-of-the-art terminal, strategically located on the Brahmaputra River (National Waterway-
2), is poised to enhance trade and connectivity between India, Bhutan, and Bangladesh.
● The Jogighopa terminal is designed to serve as an international port of call for Bhutan and
Bangladesh, facilitating efficient logistics and cargo movement in Assam and the
broader Northeast region.
Uttarakhand Cabinet approves new land law to ‘protect’ state’s resources
● Pushkar Singh Dhami-led government in Uttarakhand has repealed the 2018 land law enacted
during Trivendra Singh Rawat’s tenure.

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 Important Monthly Current Affairs Capsule – February 2025

● A new stringent law has been approved, addressing demands from social and political
organizations.
● The previous law had relaxed provisions introduced by former CM Bhuvan Chand Khanduri.
● A ban has been placed on land purchases by individuals from outside the state.
● Horticultural and agricultural land in 11 districts (except Haridwar and Udham Singh
Nagar) cannot be purchased by outsiders.
● The government aims to preserve the state’s character by ensuring proper land use and
preventing encroachments in hilly regions.
About Uttarakhand:
● Chief Minister: Pushkar Singh Dhami
● Governor: Gurmit Singh
● Capital: Dehradun
● National Parks: Jim Corbett National Park, Nanda Devi National Park, Rajaji National Park,
Gangotri National Park, Valley of Flowers National Park
● Wildlife Sanctuaries: Kedarnath Wildlife Sanctuary, Askot Wildlife Sanctuary, Binsar Wildlife
Sanctuary, Govind Wildlife Sanctuary, Sonanadi Wildlife Sanctuary, Nandi Devi Wildlife
Sanctuary

Uttar Pradesh government presents Rs 8.09 lakh crore budget, largest in state history
● The Uttar Pradesh Budget 2025-26, presented by State Finance Minister Suresh Kumar Khanna
on February 20, 2025, has a total outlay of ₹8,08,736 crore.
● This reflects a 8% increase from the ₹7,36,437 crore budget of 2024-25.
Key Points from Uttar Pradesh Budget 2025-26:
1. Budget Overview
o Total Budget: ₹8,08,736 crore (₹8.08 lakh crore), a 8% increase from the previous year’s
₹7,36,437 crore.
o New Expenditure: ₹28,478 crore allocated for new initiatives.
2. Major Sector Allocations
o Infrastructure Development: ₹1,79,921 crore (22%) – roads, expressways, smart cities.
o Education: ₹1,06,000 crore (13%) – smart classrooms, scholarships, digital learning.
o Agriculture & Rural Development: ₹89,353 crore (11%) – farmer welfare, irrigation, water
conservation.
o Healthcare: ₹50,550 crore (6%) – free medical treatment, new medical colleges, AIIMS

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 Important Monthly Current Affairs Capsule – February 2025

expansions.
o Social Welfare & Women Empowerment: ₹7,980 crore – mass marriage scheme, pension
for widows.
3. Key Initiatives
o New Expressways & Smart Cities – Expansion of urban and transport infrastructure.
o AI & Cybersecurity – Development of an AI City & Cybersecurity Research Park.
o Free LPG (Ujjwala Scheme) – Two free LPG cylinders per family.
o Ambedkar Memorial – Construction of Baba Saheb Bhimrao Ambedkar Memorial in
Lucknow.
4. Economic Growth Vision
o Target: Making Uttar Pradesh a $1 trillion economy.
o GDP Growth: Increased from ₹12.89 lakh crore (2017-18) to ₹27.51 lakh crore (2024-25).
5. Strategic Development Focus
o Key areas: Trade, Tourism, Technology, Tradition, Talent to drive economic
transformation.
About Uttar Pradesh:
● Chief Minister: Yogi Adityanath
● Governor: Anandiben Patel
● Capital: Lucknow
● National Parks: Dudhwa National Park
● Wildlife Sanctuaries: Katarniaghat Wildlife Sanctuary, Kaimoor Wildlife Sanctuary, Nawabganj
Bird Sanctuary (Shahid Chandra Shekhar Azad Bird Sanctuary), Hastinapur Wildlife Sanctuary,
Sur Sarovar Bird Sanctuary, Chandraprabha Wildlife Sanctuary, Mahavir Swami Wildlife
Sanctuary, Ranipur Wildlife
Haryana Government’s witness protection scheme to strengthen rule of law
● The Haryana Government has rolled out the ‘Haryana Witness Protection Scheme 2025’ to
ensure the safety and security of witnesses who play a crucial role in the justice system.
● The primary aim of the scheme is to protect witnesses from threats, harassment, or
intimidation that may arise during judicial proceedings.
● By providing legal protection, including the possibility of relocating, changing identities, or offering
other safeguards, the government seeks to strengthen the rule of law, encourage witnesses
to testify without fear, and improve the overall functioning of the criminal justice system.
● The scheme will be applicable to witnesses of offences punishable with death, life imprisonment,

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 Important Monthly Current Affairs Capsule – February 2025

or imprisonment of seven years or more.

● Additionally, it will cover punishments under Sections 74, 75, 76, 77, 78, and 79 of the BNS, as
well as under Sections 8, 10, 12, 14, and 15 of the Protection of Children from Sexual Offences
Act, 2012.
Key Highlights:
● Under the scheme, there will be three categories of witnesses based on threat perception.
● Category-A includes situations where the threat extends to the life of the witness, their family
members, or any person in whom the witness is interested, during the investigation or trial, or
thereafter.
● Category-B involves cases where the threat extends to the safety, reputation, or property of the
witness, their family members, or any person in whom the witness is interested, during
the investigation, trial, or thereafter.
● Category-C applies where the threat is moderate and involves harassment or intimidation of the
witness, their family members, or any person in whom the witness is interested, affecting
their reputation or property, during the investigation, trial, or thereafter.
About Haryana:
● Chief Minister: Nayab Singh Saini
● Governor: Bandaru Dattatreya
● Capital: Chandigarh
● National Parks: Sultanpur National Park, Kalesar National Park
● Wildlife Sanctuaries: Bhindawas Wildlife Sanctuary, Kalesar Wildlife Sanctuary, Nahar Wildlife
Sanctuary
Datia Becomes Madhya Pradesh’s 8th Airport, Receives Directorate General of Civil Aviation License
● Datia Airport has received a license as a public aerodrome from the Directorate General of Civil
Aviation (DGCA).
● It is classified under the 3C/VFR category.
● Datia Airport is now the 8th public aerodrome airport in Madhya Pradesh.
● The airport spans 118 acres.
● The runway is 1,810 meters long and 30 meters wide.
● The terminal building covers 768 square meters.
● Passenger handling capacity is 100 passengers per hour.
● The apron can accommodate two ATR-72 aircraft.
About Madhya Pradesh:

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 Important Monthly Current Affairs Capsule – February 2025

● Chief Minister: Mohan Yadav

● Governor: Mangubhai Chhaganbhai Patel
● Capital: Bhopal
● National Parks: Kanha National Park, Bandhavgarh National Park, Pench National Park, Panna
National Park.
● Wildlife Sanctuaries: Bori Wildlife Sanctuary, Gandhi Sagar Wildlife Sanctuary, Ken Gharial
Sanctuary, Kuno Wildlife Sanctuary.
West Bengal gets eastern India’s 1st astronomical observatory
● The Satyendra Nath Bose National Centre for Basic Sciences has inaugurated Eastern India’s
first astronomical observatory atop Panchet Hill in the Garpanchkot area of Purulia district, West
Bengal.
● This facility, named after the renowned physicist Satyendra Nath Bose, is the 6th such
observatory in India, joining others in Ladakh, Nainital, Mount Abu, Girbani Hills, and Kavalur.
● The observatory, established on a 4.9-acre site, began construction in 2012 and is situated at an
elevation of 600 meters above sea level.
● It currently houses a 14-inch diameter telescope, with plans to install a 1-meter diameter
telescope in the near future.
About West Bengal:
● Chief Minister: Mamata Banerjee
● Governor: C. V. Ananda Bose
● Capital: Kolkata
● National Parks: Sundarbans National Park, Jaldapara National Park, Buxa National Park,
Gorumara National Park, Neora Valley National Park
● Wildlife Sanctuaries: Sajnekhali Wildlife Sanctuary, Bibhutibhushan Wildlife Sanctuary,
Bethuadahari Wildlife Sanctuary, Ballavpur Wildlife Sanctuary, Haliday Island Wildlife Sanctuary
Madhya Pradesh State with the Highest Vulture Population in India
● Madhya Pradesh has recorded the highest vulture population in India.
● The recent state-level vulture census conducted by the Forest Department counted 12,981
vultures.
Key Highlights:
Vulture Population Growth in Madhya Pradesh:
● 2019 Census: 8,397 vultures
● 2024 Census: 10,845 vultures

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● 2025 Census: 12,981 vultures (significant increase)

Census Coverage:
● Conducted across 16 circles, 64 divisions, and 9 protected areas in the state.
● The census began in 2016 and has shown a consistent rise in vulture numbers.
Prime Minister Modi to attend ‘biggest ever’ jhumur event in Guwahati, Assam
● Indian Prime Minister Narendra Modi will witness the “biggest ever” Jhumur event at Sarusajai
Stadium, Guwahati, during Jhumoir Binandini 2025.
● The event marks the 200th anniversary of Assam’s tea industry, featuring a record-breaking
8,600 dancers performing Jhumur.
Who Are the Tea Tribes?
● The term “tea tribe” refers to the multi-ethnic and multi-cultural community of tea garden workers
and their descendants in
● These workers migrated from Central India, mainly from Jharkhand, Odisha, Chhattisgarh, and
West Bengal, during British rule in the 19th century.
What is the Jhumur Dance?
● Jhumur is a folk dance of the Sadan ethnolinguistic group, with origins in Chotanagpur.
About Assam:
● Chief Minister: Himanta Biswa Sarma
● Governor: Lakshman Prasad Acharya
● Capital: Dispur
● National Parks: Kaziranga National Park, Manas National Park, Dibru-Saikhowa National Park
● Wildlife Sanctuaries: Pobitora Wildlife Sanctuary, Orang National Park, Bura-Chapori Wildlife
Sanctuary, Nameri Wildlife Sanctuary
Assam: Move to recognise Bathouism highlights government commitment to preserve nature-based
faiths
● The Bodoland Territorial Region (BTR) government has added “Bathouism” as an official
religious option in various application forms.
● This move applies to educational admission forms, birth and death certificates, and other official
documents under Assam’s Health & Family Welfare Department.
● Union Home Minister Amit Shah highlighted the government’s commitment to preserving nature-
centric faiths at the 13th Triennial Conference of the All Bathou Mahasabha in Tezpur, Assam
(January 20, 2024).
● The Assam Government has also declared the second Tuesday of the traditional month of

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 Important Monthly Current Affairs Capsule – February 2025

Magh as a state holiday for Bathou Puja.

What is Bathouism?
● Bathouism is the traditional faith of the Bodos, Assam’s largest plains tribe.
● The religion is centered around the worship of “Bathoubwrai” or “Sibwrai,” the supreme deity.
● The faith derives its name from:
o “Ba” (meaning “five” in Bodo)
o “Thou” (meaning “deep philosophical thought”)
● Bathouism is based on five elements, similar to Panchatatva in Hinduism:
o Bar – Air
o San – Sun
o Ha – Earth
o Or – Fire
o Okhrang – Sky
Sacred Symbol: The Sijou Plant
● The Sijou plant (Euphorbia splendens) is central to Bathouism and is planted at the Bathou
altar as a symbol of life and soul.
● It represents Bathoubwrai, the supreme deity, who is described as omnipotent, omniscient, and
omnipresent.
Union Government Greenlights Construction of Arunachal Frontier Highway to Boost Border
Connectivity, Announces Union Minister of Parliamentary Affairs of India Kiren Rijiju
● The Union Government has approved the construction of the Arunachal Frontier Highway, a
massive infrastructure project aimed at enhancing connectivity in border areas, Union
Minister Kiren Rijiju
● With an estimated cost of ₹42,000 crore, this is the highest-ever allocation for a single
infrastructure project by the Central Government.
● According to the Border Roads Organisation (BRO), the 1,637-km-long highway will, in some
areas, run as close as 20 km to the Line of Actual Control (LAC).
● Its development aligns with the Narendra Modi government’s focus on border village
development, North-East infrastructure enhancement, and troop movement facilitation.
● The highway will pass through key districts, including East Kameng, Bichom, Kra Daadi, Upper
Subansiri, Shi-Yomi, Anjaw, and Changlang, providing crucial road connectivity to remote areas.
About Arunachal Pradesh:
● Chief Minister: Pema Khandu

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 Important Monthly Current Affairs Capsule – February 2025

● Governor: Kaiwalya Trivikram Parnaik

● Capital: Itanagar
● National Parks: Namdapha National Park, Mouling National Park, Mehao Wildlife Sanctuary,
Eaglenest Wildlife Sanctuary,
● Wildlife Sanctuaries: Pakke Tiger Reserve, Kamlang Wildlife Sanctuary, Dampa Tiger Reserve,
Daying Ering Wildlife Sanctuary

BUSINESS NEWS
Nestlé Explores Introduction of Starbucks RTD Coffee in India
● Nestlé S.A., the world's largest coffee company, is considering the launch of Starbucks-branded
ready-to-drink (RTD) coffee products in India, marking a significant move in its global partnership with
Starbucks Corporation.
● This partnership, which allows Nestlé to market Starbucks’ packaged coffee and beverages
outside its cafes, has already expanded to several international markets.
● Now, India is poised to be the next potential market for these products.

Indian Gold Investments Jump 60% In 2024 To Rs 1.5 Lakh Crore: World Gold Council
● India's gold investments saw a 60% surge in 2024, reaching ₹1.5 lakh crore ($18 billion),
according to the World Gold Council (WGC).
● The gold investment demand reached 239 tonnes, marking a 29% increase from 185 tonnes in
2023.
● This remarkable growth was driven by factors such as rising gold prices, reduced import duties,
and an increased demand during festive seasons.
● India now accounts for 20% of global gold investment demand, a significant contribution to the
global market.
Zomato Rebrands as Eternal: A Strategic Corporate Transformation
• Food and delivery giant Zomato has officially rebranded itself as “Eternal”, effective February 6,
2025.
• This move signifies a major corporate shift, consolidating its diverse business verticals under one
umbrella while continuing to operate its core food delivery service under the Zomato brand.
About Zomato
• Founders: Deepinder Goyal, Akriti Chopra, Pankaj Chaddah, Gunjan Patidar
• Founded: July 2008

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• Formerly: FoodieBay (2008–2010)

• Headquarters: Gurugram, Haryana, India.

THDC India Limited Begins Commercial Operations of 660-MW Unit at Khurja Thermal Plant
• THDC India Ltd (THDCIL) has entered the domestic thermal energy sector by commencing
commercial operations of a 660-MW unit at the Khurja Super Thermal Power Plant (STPP) in
Bulandshahr, Uttar Pradesh.
• The project, with a total capacity of 1,320 MW (2×660 MW) and an investment of ₹13,000 crore,
marks a significant milestone for THDCIL.
• The second unit is expected to begin operations soon.
• THDCIL’s first venture into thermal power, after operating in hydro, wind, and solar energy.
About UP
• Capital: Lucknow
• Chief minister: Yogi Adityanath
• Governor: Anandiben Patel
• WLS: Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, Hastinapur Wildlife
Sanctuary, Kaimur Wildlife Sanctuary
Department for Promotion of Industry and Internal Trade Releases Wholesale Price Index (WPI) for
January 2025, Reports 2.31% Annual Inflation Rate
● The Department for Promotion of Industry and Internal Trade (DPIIT), a central government
department under the Ministry of Commerce and Industry in India has released the Wholesale
Price Index (WPI) for January 2025, reporting an annual inflation rate of 2.31% (provisional)
compared to January 2024.
● Inflation increase is mainly due to rising prices in manufactured food products, food articles, non-
food articles, and textiles.
● Month-over-month (MoM) WPI change for January 2025 stood at (-) 0.45%, indicating a marginal
decline from December 2024.

AWARDS AND HONOUR

Grammy Awards 2025 Full Winners List: Beyoncé takes Album of the Year
● The 67th Annual Grammy Awards, which celebrated the best in music, took place at the
Crypto.com Arena in Los Angeles.

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 Important Monthly Current Affairs Capsule – February 2025

● Hosted by Trevor Noah, the event was marked by record-breaking achievements, powerful
performances, and the rise of new talents.
● Full List of Major Grammy Winners 2025
● Award Category ● Winner(s)
● Album of the Year ● Beyoncé – "Cowboy Carter"
● Record of the Year ● Kendrick Lamar – "Not Like Us"
● Song of the Year ● Kendrick Lamar – "Not Like Us"
● Best New Artist ● Chappell Roan
● Best Pop Solo Performance ● Sabrina Carpenter – "Espresso"
● Best Pop Vocal Album ● Sabrina Carpenter – "Short n’ Sweet"
● Best Country Album ● Beyoncé – "Cowboy Carter"
● Best Country Duo/Group ● Beyoncé & Miley Cyrus – "II MOST
Performance WANTED"
● Best Rap Album ● J. Cole – "The Off-Season"
● Best Rock Album ● The Black Crowes – "Shake Your Money
Maker"
● Best R&B Song ● Kehlani – "After Hours"

● Best Dance/Electronic ● Justice & Tame Impala – "We Are the

Performance People"

● Best Score Soundtrack ● Bear McCreary – "God of War Ragnarök:

Valhalla"

● Dr. Dre Global Impact Award ● Alicia Keys

Chandrika Tandon Wins Grammy Award for ‘Triveni’: A Celebration of Music and Heritage
● Indian-American musician and business leader Chandrika Tandon, 71 has won the Grammy
Award for Best New Age, Ambient, or Chant Album for her project ‘Triveni’, a collaboration with Wouter
Kellerman and Eru Matsumoto.
● The prestigious award was presented at the 67th Grammy Awards on February 2, 2025, at
Crypto.com Arena in Los Angeles.

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 Important Monthly Current Affairs Capsule – February 2025

● First Indian-American woman partner at McKinsey & Company

● Founder of Tandon Capital Associates, a financial advisory firm
University of Sussex Confers Honorary Doctorate on Noel Tata
● The University of Sussex has awarded an honorary doctorate to Noel Tata, a prominent business
leader within the Tata Group, in recognition of his contributions to global business leadership, ethical
practices, and corporate social responsibility.
● A proud alumnus of Sussex University, Tata has played a pivotal role in the expansion of the
Tata Group, particularly in retail, steel, and investment sectors.
Sahitya Akademi Award 2024 in Dogri Conferred on Late Chaman Arora
● The Sahitya Akademi Award 2024 in Dogri has been conferred on Late Chaman Arora for his
short story collection, "Ik Hor Ashwthama."
● The prestigious award was approved by Sri Madhav Kaushik, President of Sahitya Akademi,
based on the recommendation of a three-member jury.
● Book Selected: Ik Hor Ashwthama (Short Stories).
● Awardee: Late Chaman Arora.

REC Limited Wins ‘Gold Shield’ at ICAI Awards for Excellence in Financial Reporting
● REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power has
been awarded the ‘Gold Shield’ in the ‘Financial Services Sector (Other than Banking and Insurance)’
category at the ICAI Awards for Excellence in Financial Reporting for FY 2023-24.
● The award reflects REC Limited's commitment to excellence in financial reporting, transparency,
and adherence to accounting standards.

RITES Limited Awarded ‘Gold’ at ICAI Awards for Excellence in Financial Reporting FY 2023-24
● RITES Limited, a Navaratna Public Sector Enterprise under the Ministry of Railways, has been
conferred the ‘Gold’ award in the ‘Public Sector Entities’ category at the ICAI Awards for Excellence in
Financial Reporting for FY 2023-24.
● This prestigious recognition is a testament to the company’s unwavering commitment to financial
excellence, transparency, and regulatory compliance.
● Award Title: ‘Gold’ Award under the Public Sector Entities category.

Tshego Gaelae Makes History as the First Black Woman to Win Mrs World 2025

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● Tshego Gaelae, a Soweto-born attorney, has made history by becoming the first Black woman to
win the Mrs World 2025 title at the grand finale in Las Vegas.
● The 34-year-old, who is also the 2024 Mrs South Africa Queen, follows in the footsteps of
Candice Abrahams, the only other South African to hold the title (2016).
● Gaelae becomes the first Black woman to win the prestigious Mrs World title in the pageant's
history.
About South Africa
● Capitals: Cape Town, Pretoria, Bloemfontein
● President: Cyril Ramaphosa
● Currency: Rand

Deepak Kumar Kedia Honored with ‘CA in Public Service’ Award

• Deepak Kumar Kedia, Inspector General (IG) Headquarters, National Security Guard (NSG), has
been awarded the ‘CA in Public Service’ Award by the Institute of Chartered Accountants of India
(ICAI).
• The award was presented at the World Forum of Accountants Meet in New Delhi, in recognition
of his outstanding contributions to law enforcement and national security.

Indian filmmaker Varsha Bharath’s Bad Girl Wins Network for the Promotion of Asian Cinema Award at
International Film Festival Rotterdam 2025
• Indian filmmaker Varsha Bharath’s directorial debut, Bad Girl, has won the NETPAC (Network for
the Promotion of Asian Cinema) Award at the International Film Festival Rotterdam (IFFR) 2025.
• Presented by Anurag Kashyap and Vetrimaaran, the film, despite initial controversy over its bold
themes, has now gained critical acclaim.
About International Film Festival Rotterdam :
• Founded : 1972
• Location : Rotterdam, Netherlands
• IFFR is an annual film festival held at the end of January in various locations in Rotterdam, the
Netherlands, focused on independent and experimental films.

Chaman Arora to be Posthumously Honored with Sahitya Akademi Award 2024 for His Short Story
Collection Ik Hor Ashwthama in Dogri Literature

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• The Sahitya Akademi Award 2024 in Dogri literature will be posthumously awarded to the late
Chaman Arora for his book Ik Hor Ashwthama, a collection of short stories.
• The award will be presented to his family or nominee at a special ceremony in New Delhi on
March 8, 2025.

Indian Students Win Bronze at Global Best M-Gov Award 2025

• Three Indian Computer Science students from Maharaja Agrasen Institute of Technology, New
Delhi, secured the Bronze Award at the Global Best M-Gov Award 2025 during the World
Government Summit (WGS) in Dubai.
• Their AI-powered app, AccessWay, was recognized for its role in enhancing mobile government
services and social inclusion for individuals with disabilities.
• The award was presented by Mansour bin Zayed Al Nahyan, Vice President of the UAE, along
with a cash prize of $10,000.

Hollywood Star Tom Cruise Receives France’s Highest Aviation Honor – Grande Médaille
• Hollywood star Tom Cruise has been honored with the Grande Médaille, the highest distinction
from the Aero-Club de France.
• The award was presented by the club’s president, Catherine Maunoury, recognizing Cruise’s
significant contributions to aviation and his role in inspiring future pilots.
• Awarded by: Aero-Club de France, one of the oldest aviation organizations (est. 1898).
NTPC Limited. Wins Forward Faster Sustainability Award 2025 for Water Resilience
● NTPC Limited., India’s largest integrated power utility, has been honoured with the Forward
Faster Sustainability Award 2025 in the Water Resilience category.
● The award was presented by the UN Global Compact Network India (UN GCNI) at a ceremony
in Chennai.
Key Highlights of the Award
● Recognizes NTPC’s leadership in sustainable water management and conservation.
● Award received by Shri Harekrushna Dash (Executive Director, Sustainability, Environment &
Ash) and Shri K Karthikeyan (AGM, Environment & Sustainability).
● Aligns with the United Nations Sustainable Development Goals (SDGs).
N. Chandrasekaran Awarded Honorary Knighthood by the United Kingdom: A Milestone in UK-India
Business Relations
● N. Chandrasekaran, Chairman of Tata Group, was conferred with an honorary knighthood by

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 Important Monthly Current Affairs Capsule – February 2025

the United Kingdom.

● This prestigious honor recognizes his outstanding contributions to strengthening the economic
and business ties between India and the UK.
Key Highlights for Exam Perspective:
1. Reasons for Award
● Pivotal role in expanding UK-India trade relations.
● Under Chandrasekaran’s leadership, Tata Group has significantly invested in the UK.
o Key sectors: Steel, Automobiles, and Technology.
o Jaguar Land Rover (JLR) and a new electric vehicle battery plant in the UK.
● The award recognizes his strategic efforts in fostering strong business connections and
creating jobs and technological collaboration in the UK.
2. Previous International Recognitions
● Chevalier de la Légion d’Honneur (May 2023) from France for his role in strengthening Indo-
French business ties.
● Honorary Doctorate (September 2013) from Nyenrode Business Universiteit, Netherlands for his
contributions to business and society.
Nita Ambani Honored with Governor of Massachusetts’ Citation for Philanthropy
● Nita Ambani, Founder and Chairperson of Reliance Foundation, has been awarded the Governor
of Massachusetts’ Citation for her outstanding contributions to education, healthcare, sports, arts,
culture, and women’s empowerment.
● This prestigious recognition highlights her dedication to driving positive societal change in India
and globally.
Contributions to Education and Healthcare
● Education:
o Founded Dhirubhai Ambani International School, one of India’s top-ranked educational
institutions, promoting academic excellence and leadership development.
● Healthcare:
o Leads the Sir H.N. Reliance Foundation Hospital and Research Centre, providing world-
class medical care in Mumbai.
o Ensures advanced treatments and healthcare accessibility for people from all walks of life.
Nagaland Forest Management Project (NFMP) Wins SKOCH Award 2024
● The Nagaland Forest Management Project (NFMP) has been recognized with the prestigious
SKOCH Award 2024, honoring its outstanding contributions to national development.

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● The award was presented during the 100th SKOCH Summit at the India Habitat Centre, New
Delhi.
● Ango Konyak, Deputy Project Director of NFMP, and Wennyei Konyak, Resident Commissioner
of Nagaland House in New Delhi, accepted the award on behalf of the Department of
Environment, Forests & Climate Change (DEFCC), Government of Nagaland (GoN).
● Supported by the Japan International Cooperation Agency (JICA), the project focuses on forest
ecosystem improvement, rehabilitation of jhum (shifting cultivation) areas, and livelihood
enhancement through sustainable practices.
Indian Biologist Purnima Devi Barman Named in TIME’s Women of the Year 2025
● Renowned wildlife conservationist Purnima Devi Barman has been featured in TIME Magazine’s
Women of the Year 2025 list, recognizing extraordinary leaders shaping a more equitable and
sustainable world.
● She is the only Indian woman on this year’s list, alongside global figures like Nicole
Kidman and Gisele Pelicot of France.
● Barman is celebrated for her remarkable efforts in conserving the greater adjutant stork (Hargila),
which has significantly influenced both environmental conservation and social empowerment.
Manohar International Airport Wins Prestigious ‘Sarvashrestha Suraksha Puraskar’
● Manohar International Airport (GOX), operated by GMR Goa International Airport Ltd. (GGIAL),
has become the first Indian airport to win the ‘Sarvashrestha Suraksha Puraskar (Golden
Trophy)’ at the NSCI Safety Awards 2024 in the ‘Service Sector’ category.
● The award was presented during a ceremony at The Lalit, Mumbai, in January 2025.
Key Highlights
● The award highlights the airport’s exemplary Occupational Safety and Health (OSH) performance.
● Recognized for reducing workplace injuries, implementing best safety practices, and maintaining
a zero-incident record.
● First Indian airport to receive the ‘Sarvashrestha Suraksha Puraskar (Golden Trophy)’. Awarded
by the National Safety Council of India (NSCI), under the Ministry of Labour, Government of India.
About the NSCI Safety Awards:
● Established by the Ministry of Labour, Government of India, to promote Occupational Safety and
Health (OSH).
● Recognizes organizations for:
Implementing best safety practices.
Reducing workplace injuries and hazards.

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 Important Monthly Current Affairs Capsule – February 2025

Continual improvement in safety measures.

Commitment to employee well-being.
Founder and chairman of Bharti Enterprises, Sunil Bharti Mittal Awarded Honorary Knighthood (KBE)
for India-UK Business Contributions
● Sunil Bharti Mittal, founder and chairman of Bharti Enterprises, has been awarded an Honorary
Knighthood (KBE) for his remarkable contributions to India-UK business relations.
● He received the Knight Commander of the Most Excellent Order of the British Empire (KBE) at a
special investiture ceremony held at the British High Commissioner’s residence in New Delhi.
● This prestigious honor, conferred under King Charles III, makes him the first Indian citizen to
receive it during the new monarch’s reign.
Notable Indians Previously Honored with KBE
● Jamshed Irani (1997) – Former Tata Steel Director
● Ravi Shankar (2001) – Legendary sitar maestro
● Ratan Tata (2009) – Former Tata Sons Chairman
‘Conclave’ Triumphs at SAG Awards, Timothée Chalamet Wins Best Actor, Shaking Up Oscar
Predictions
● The 31st Screen Actors Guild (SAG) Awards delivered major surprises, with the papal
thriller Conclave winning Best Ensemble Cast, the night’s top honor.
● The victory disrupted the awards season momentum, as Anora had previously dominated wins at
the Producers, Directors, and Writers Guild Awards.
Key Highlights
● In a shocking turn, Timothée Chalamet took home Best Actor for his portrayal of Bob Dylan in A
Complete Unknown, breaking the season-long streak of Adrien Brody (The Brutalist).
● Meanwhile, Demi Moore won Best Actress for The Substance, edging out frontrunner Emma
Stone (Poor Things).
Key Takeaways from SAG 2025:
Best Ensemble Cast (Top Film Prize): Conclave
Best Actor: Timothée Chalamet (A Complete Unknown)
Best Actress: Demi Moore (The Substance)
IIMCAA Awards 2025: Neelesh Misra & Anshu Gupta Named ‘Alumni of the Year’
● The 9th edition of the IIMC Alumni Association Awards was held in New Delhi, celebrating
excellence in journalism, public service, and media.
● As part of the Silver Jubilee celebrations, around 80 alumni who graduated 25 years ago were

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 Important Monthly Current Affairs Capsule – February 2025

honored for their lasting contributions.

Key Highlights:
IIMCAA Awards 2025 Winners List:
Category Winner(s)

● Alumni of the Year Neelesh Misra (Writer-lyricist)

Anshu Gupta (Founder, NGO ‘Goonj’)

● Journalist of the Year Sarvapriya Sangwan (BBC Hindi)

● Lifetime Achievement Award Prof Ashok Ogra (Delhi)

Jahnabi Phookan (Guwahati)

Sujata Sabnis (Pune)

Prof Shambhu Nath Singh (Tezpur)

Dr Medini Prasad Roy (Delhi)

● Public Service Award Jamshedpur SSP Kishor Kaushal

Social Worker Aditya Vardhan (Gaya)

● Connecting Alumni of the Year Ketan Tanna (Maharashtra)

Sudhansu Kumar Patro (Odisha)

Marinder Mishra (Uttar Pradesh)

● Connecting Chapter of the Year IIMCAA Gujarat Committee

● Pillars of IIMCAA Award Santosh Kumar Valmeeki (Uttar Pradesh)

Kalyan Ranjan & Nitin Pradhan (Delhi)

Alice Guram (Punjab)

Braj Kishore & Krishna Pophale (Maharashtra)

Byomakesh Biswal (Odisha)

Jury Category Winners
● Cash prizes ranging from ₹50,000 to ₹1.50 lakh were awarded.
Category Winner(s)

● Agriculture Reporter of the Year Sarvapriya Sangwan & Pallav Jain

● Reporter of the Year (Publishing) Sandeep Rajwade

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 Important Monthly Current Affairs Capsule – February 2025

● Reporter of the Year (Broadcasting) Ajatika Singh

● Producer of the Year Harshita Rathore

● Indian Language Reporter of the Year (Publishing) R Samban

● Indian Language Reporter of the Year (Broadcast) Anuj Kumar Das

● AD Person of the Year Pankaj Bora

● PR Person of the Year Ashish Shukla

● PR Agency of the Year Avian WE

● Digital Agency of the Year Kaizzen

National Dhanwantari Ayurveda Awards 2025: Recognizing Excellence in Traditional Medicine
● The Ministry of Ayush has honoured three distinguished Ayurveda practitioners with the National
Dhanwantari Ayurveda Awards 2025 for their exceptional contributions to Indian traditional
medicine. Each awardee received:
o A citation
o A statue of Lord Dhanwantari
o A cash prize of ₹5 lakh
Who Are the 2025 Award Recipients?
Vaidya Tara Chand Sharma
● Renowned Nadi Vaidya (pulse diagnosis expert) and author
● Has made significant advancements in Ayurvedic diagnostics and literature
Vaidya Maya Ram Uniyal
● An eminent scholar in Dravyaguna Vigyana (study of medicinal properties of herbs)
● Over 60 years of service in Ayurveda
● His writings and leadership have inspired many in the field
Vaidya Sameer Govind Jamadagni
● Founder of Vishwa Vyakhyanmala national conference & Vishwa Ayurveda Prabodhini
● Has played a key role in transforming Ayurveda education for over 40 years
What Is the Historical Significance of the Awards?
● Established to honor excellence in Ayurveda, these awards celebrate those who:
o Elevate Ayurveda from local traditions to global recognition
o Inspire future generations to adopt and propagate holistic health practices
o Strengthen India’s position as a leader in traditional medicine and wellness

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 Important Monthly Current Affairs Capsule – February 2025

Screen Actors Guild (SAG) Awards 2025:

● The 31st Screen Actors Guild (SAG) Awards took place on February 23, 2025, at the Shrine
Auditorium & Expo Hall, Los Angeles.
● Hosted by Kristen Bell and streamed live on Netflix, the event honored exceptional performances
in film and television over the past year.
Key Highlights of SAG Awards 2025
Jane Fonda Honored with SAG Life Achievement Award
● Jane Fonda received the SAG Life Achievement Award for her remarkable career and
humanitarian contributions.
● In her speech, she emphasized the importance of empathy and unions in the entertainment
industry.
Major Film Category Winners
● Best Cast in a Motion Picture: Conclave (unexpected winner)
● Best Male Actor in a Leading Role: Timothée Chalamet (A Complete Unknown as Bob Dylan)
● Best Female Actor in a Leading Role: Demi Moore (The Substance as Elisabeth)
● Best Male Actor in a Supporting Role: Kieran Culkin (A Real Pain as Benji Kaplan)
● Best Female Actor in a Supporting Role: Zoe Saldaña (Emilia Pérez as Rita)
● Best Stunt Ensemble in a Motion Picture: The Fall Guy
Major Television Category Winners
● Best Drama Series Ensemble: Shōgun
● Best Comedy Series Ensemble: Only Murders in the Building
● Best Male Actor in a Drama Series: Hiroyuki Sanada (Shōgun as Yoshii Toranaga)
● Best Female Actor in a Drama Series: Anna Sawai (Shōgun as Toda Mariko)
● Best Male Actor in a Comedy Series: Martin Short (Only Murders in the Building as Oliver
Putnam)
● Best Female Actor in a Comedy Series: Jean Smart (Hacks as Deborah Vance)
● Best Male Actor in a TV Movie/Limited Series: Colin Farrell (The Penguin as Oz Cobb)
● Best Female Actor in a TV Movie/Limited Series: Jessica Gunning (Baby Reindeer as Martha)
● Best Stunt Ensemble in a TV Series: The Fall Guy

APPOINTMENTS & RESIGNATIONS

Bajaj Finserv Strengthens Leadership Team with New Chief Financial Officer Appointment

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 Important Monthly Current Affairs Capsule – February 2025

● Bajaj Finserv has appointed Ramandeep Singh Sahni as its new Chief Financial Officer
(CFO) and Whole-Time Key Managerial Personnel, effective from February 1, 2025.
● He succeeds S. Sreenivasan, who will step down as CFO on January 31, 2025, but will continue
in a strategic role as President (Insurance and Special Projects).
● Sahni has been with the Bajaj Finserv Group for over 11 years, serving as CFO of Bajaj Allianz
Life Insurance Co. Ltd. (BALIC) and later Bajaj Allianz General Insurance Co. Ltd. (BAGIC).
Gopal Vittal Chief Executive Officer of Bharti Airtel Appointed as Acting Chair of GSMA Board
● Gopal Vittal, Vice Chairman and Managing Director of Bharti Airtel, has been appointed as
the acting chair of the GSMA board.
● He was previously serving as the Deputy Chair of the GSMA.
● The position became vacant after José Maria Álvares-Pallete, Chairman and CEO of Telefónica,
resigned from the GSMA, making him ineligible to continue as Chair.
● The GSMA is a global non-profit telecom association representing over 1,100 companies from
the telecom ecosystem worldwide.
Bart De Wever sworn in as Belgium’s New Prime Minister
● Bart De Wever, a conservative political leader, was sworn in as the Prime Minister of Belgium on
3rd February 2025 by King Phillippe in a ceremony at the royal palace in Brussels.
● He succeeded Alexander De Croo, who had served as the caretaker leader after the June 2024
elections.
● The June 2024 elections resulted in no decisive mandate, leading to seven months of
negotiations to form a government.
About Belgium:
● Capital: Brussels
● Currency: Euro
● Prime Minister: Bart De Wever

Citi's Ashu Khullar to become Global Asset Manager’s (GAM) co-head

● Ashu Khullar has been appointed as the global co-head of Global Asset Managers (GAM), based
in London.
● He will oversee EMEA and Asia.
● He will collaborate with Anthony Diamandakis (co-head for North America) on global GAM
strategy and resource allocation.
● He joins the investment banking global operating committee.

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 Important Monthly Current Affairs Capsule – February 2025

About GAM:
● Founded: 1983
● Headquarters: Zürich, Switzerland

TVS Motor Company appoints Gaurav Gupta as President of India's two-wheeler business.
● TVS Motor Company (TVSM), a global automaker in the two and three-wheeler segment, has
appointed Gaurav Gupta as President – India two-wheeler business.
● In this role, Gaurav will lead the India two-wheeler business, covering both internal combustion
engine (ICE) and electric vehicle (EV) segments.
● Gaurav brings over three decades of experience, having worked in multiple geographies,
including India, China, Dubai, Indonesia, Vietnam, and ASEAN markets.

Sun Pharma elevates son of promoter as Chief Operating Officer

● Aalok Shanghvi, son of founder Dilip Shanghvi, appointed as Chief Operating Officer (COO) in
Sun Pharma.
● The move aims to strengthen Sun Pharma’s leadership and ensure stability.
● Dilip Shanghvi serves as Chairman and Managing Director.
● Vidhi Shanghvi heads the domestic consumer healthcare business.
● Abhay Gandhi is CEO of North America.
● Kirti Ganorkar is the India business head.
● Sun Pharma is India’s largest drug maker and the world’s 4th-largest generic company.

Mahindra Finance Announces Pradeep Kumar Agrawal as New Chief Financial Officer
● Mahindra & Mahindra Financial Services has appointed Pradeep Kumar Agrawal as its Chief
Financial Officer (CFO) and Key Managerial Personnel, effective from March 5, 2025.
● This appointment fills a four-month vacancy following the resignation of former CFO Vivek Karve,
who served until October 2024.
● Agrawal brings over 28 years of experience in financial operations, having held leadership roles
at Aditya Birla Group and Bharat Petroleum.

Government appoints Rajesh Nirwan (IPS) as Director General at Bureau of Civil Aviation Security
(BCAS)

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 Important Monthly Current Affairs Capsule – February 2025

● The Appointments Committee of the Cabinet (ACC) approved the appointment of Rajesh Nirwan
(IPS) as the Director General of the Bureau of Civil Aviation Security (BCAS).
● The proposal was put forward by the Ministry of Civil Aviation.
● Effective Date: Nirwan’s appointment will be effective from the date he assumes charge and will
continue until further orders, as per the Department of Personnel & Training (DoPT) order issued
on January 27, 2025.

Vice Admiral Rajaram Swaminathan Joins as Controller of Warship Production & Acquisition
● Vice Admiral Rajaram Swaminathan, AVSM, NM assumed charge as the Controller of Warship
Production & Acquisition on January 30, 2025, succeeding Vice Admiral B. Sivakumar, AVSM, VSM.
● Vice Admiral Swaminathan was commissioned into the Indian Navy in 1987.
About Ministry of Defence:
● Cabinet Minister: Rajnath Singh
● Minister of State (MoS): Ajay Bhatt
Indian Space Research Organisation appoints M. Mohan as director of Liquid Propulsion Systems
Centre in Thiruvananthapuram
● M. Mohan has been appointed as the director of the Liquid Propulsion Systems Centre (LPSC) in
Thiruvananthapuram, Kerala.
● He succeeds V. Narayanan and is currently serving as Director (Projects) at the Vikram Sarabhai
Space Centre (VSSC).
● Mr. Mohan previously served as the director of the Human Space Flight Centre from June 2023
to June 2024.
About ISRO:
● Established: 1958
● Headquarters: New Delhi, India
● Chairman: V. Narayanan

Institute of Chartered Accountants of India elects new President and Vice President for the 2025-26
term
● The Institute of Chartered Accountants of India (ICAI) elected its new President and Vice
President for the term 2025-26 during its 26th Council meeting on February 12, 2025.
Newly Elected Leadership:
● President: CA Charanjot Singh Nanda (73rd President of ICAI)

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 Important Monthly Current Affairs Capsule – February 2025

● Vice President: CA Prasanna Kumar D

● The leadership transition saw CA Ranjeet Kumar Agarwal passing the presidency to CA
Charanjot Singh Nanda and CA Charanjot Singh Nanda passing the vice-presidency to CA
Prasanna Kumar D
Greece elects former parliamentary speaker Constantine Tassoulas,as its new president
● Greece’s parliament elected Constantine Tassoulas, former parliamentary speaker, as
the country’s new president.
● He was approved as the conservative government’s nominee for the largely ceremonial role.
● Tassoulas will succeed Katerina Sakellaropoulou, Greece’s first female president.
● Sakellaropoulou’s five-year term expires in March, 2025.
President’s Rule Imposed in Manipur Amid Political Crisis
● President’s Rule was imposed in February 2025 after Manipur Chief Minister N. Biren Singh
resigned, citing political instability.
● A notification from the Ministry of Home Affairs (MHA) stated that President Droupadi Murmu
believes the state government cannot function as per constitutional provisions, leading to the
invocation of Article 356.
● The state assembly has been put under suspended animation following the imposition of
President’s Rule.
● Biren Singh resigned on February 9, 2025, just before the budget session of the assembly, amid
controversy over leaked audio tapes allegedly implicating him in the ethnic violence.
● The BJP failed to reach a consensus on a new Chief Minister, leading to governance deadlock.
● BJP lawmakers met Governor Ajay Kumar Bhalla, but no decision was reached on a replacement
for Singh.
● As per Article 174(1) of the Constitution, the Manipur Assembly had to be reconvened by
February 12, 2025, but political instability led to President’s Rule instead.
● Security forces intensified operations in hill and valley districts, conducting search operations
amid rising ethnic tensions.
What is Article 356 of the Indian Constitution?
● Article 356empowers the President to impose central rule in a state on the advice of the Union
Council of Ministers if he is satisfied that the state’s governance cannot be carried out in
accordance with constitutional provisions.
● Once invoked, all functions of the state government are transferred to the Centre, and the powers
of the state legislature are exercised by Parliament for the duration of its enforcement.

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 Important Monthly Current Affairs Capsule – February 2025

● Exception: The only exception is the functioning of High Courts, which remains unaffected.
History of President’s Rule in India?
1. Since 1950, President’s Rule has been imposed 134 times across 29 states and UTs.
2. Manipur and Uttar Pradesh have seen the most frequent impositions, 10 times each.
Note– However, these are not the regions that have spent the longest time under central control.
States/UTs with the longest duration under President’s Rule:
1. Jammu & Kashmir– Over 12 years.
2. Punjab– Over 10 years.
● Both faced prolonged militant and separatist activity leading to instability.
3. Puducherry– Over 7 years.
● Frequent government collapses due to infighting and defections.
R. Subramaniakumar to continue as Managing Director & Chief Executive Officer of Ratnakar Bank for
3 years
● The Reserve Bank of India (RBI) has approved the reappointment of R
Subramaniakumar as Managing Director & Chief Executive Officer (MD & CEO) of Ratnakar
Bank.
● The reappointment is for three years, from June 23, 2025, to June 22, 2028.
● The reappointment will be subject to shareholder approval as per RBI and SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015.
● Subramaniakumar has been serving as MD & CEO of RBL Bank since June 23, 2022.
● His current term ends on June 22, 2025, and the reappointment will take effect thereafter, subject
to shareholder approval.
About RBL Bank:
● Full Name: RBL Bank Limited (formerly Ratnakar Bank Limited)
● Founded: 1943
● Headquarters: Mumbai, Maharashtra, India
● MD & CEO: R Subramaniakumar
Future Generali India Insurance appoints Kanika Garg as Chief Operating Officer
● Future Generali India Insurance has appointed Kanika Garg as its Chief Operating Officer (COO).
● She assumed the role in December 2024 and has since been instrumental in driving growth,
innovation, and operational excellence within the company.
● With a robust background in the insurance sector, Garg brings extensive experience in
operational leadership.

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 Important Monthly Current Affairs Capsule – February 2025

● Garg’s appointment aligns with Future Generali’s strategy to enhance operations, streamline
processes, and boost overall business efficiency.
Standard Chartered receives Reserve Bank of India’s approval to appoint Prabdev Singh as India Chief
Executive Officer
● The Reserve Bank of India (RBI) has approved the appointment of Prabdev (PD) Singh as the
CEO of Standard Chartered (StanC) in India and South Asia.
● He succeeds Zarin Daruwala, who will retire at the end of March 2025.
SBI Cards Announces Salila Pande as Its Next Managing Director & Chief Executive Officer
● SBI Cards and Payment Services has announced the appointment of Salila Pande as its
new Managing Director and CEO, effective April 1, 2025, for a two-year term.
● This decision follows the upcoming retirement of the current MD & CEO, Abhijit Chakravorty, on
March 31, 2025.
● Concurrently, SBI Cards has declared an interim dividend of ₹2.50 per share for the financial
year 2024-25.
● The record date for this dividend is set for February 25, 2025, with payments expected to be
processed by March 18, 2025.
About SBI Cards and Payment Services:
● Headquarters: Gurugram, Haryana, India
● Founded: 1998
● CEO: Salila Pande (Effective April 1, 2025)
● Key Products: Credit Cards, Contactless Payments, EMI & Loan Services, Reward Programs,
Co-Branded Cards, SBI Card Pay
Government Appoints Gyanesh Kumar as India’s Next Chief Election Commissioner
● Gyanesh Kumar, a retired Indian Administrative Service (IAS) officer from the 1988 Kerala cadre,
has been appointed as India’s 26th Chief Election Commissioner (CEC), effective February 19,
2025.
● He succeeds Rajiv Kumar, who retires upon reaching the age of 65.
● The selection was made by a three-member committee comprising Prime Minister Narendra
Modi, Home Minister Amit Shah, and Leader of the Opposition Rahul Gandhi.
● During the selection meeting, Rahul Gandhi expressed objections, suggesting a delay until the
Supreme Court’s hearing on the new selection law scheduled for February 19, 2025.
● Despite this, the appointment proceeded as planned.
● Kumar’s term as CEC is set to continue until January 26, 2029.

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 Important Monthly Current Affairs Capsule – February 2025

● During this period, he will oversee significant electoral events, including the 2029 Lok Sabha
elections, 20 state assembly elections, and the Presidential and Vice-Presidential elections in
2027.
● This appointment marks the first under the new law governing the Election Commission’s
selection process, highlighting a significant development in India’s electoral administration.
Janet E. Petro made history as the first woman to serve as NASA’s Acting Administrator.
● Janet E. Petro made history as the first woman to serve as NASA’s Acting Administrator.
● She is also the 11th director of the John F. Kennedy Space Center (KSC).
Key Highlights:
● Acting Administrator: In 2025, she was appointed by President Donald Trump as NASA’s Acting
Administrator.
● Director of KSC: She has held the position of KSC Director since 2021, continuing to shape
NASA’s future.
● Born in Michigan, Raised Near KSC: Janet was born in Michigan, but her family moved
to Florida when her father worked on NASA’s Mercury and Gemini Programs.
Awards and Honors:
● Florida Women’s Hall of Fame (2018): Inducted for her significant contributions.
● Samuel J. Heyman Service to America Medal (2019): Awarded for Management Excellence.
● Additional Honors: Janet has also received the President’s Distinguished Executive Award and
the Silver Snoopy Award, given by astronauts for exceptional performance.
About NASA:
● Founded: July 29, 1958 (by the National Aeronautics and Space Act)
● Operational Since: October 1, 1958
● Headquarters: Washington, D.C., United States
● Administrator: Janet Petro
Rekha Gupta’s oath as Delhi’s 4th woman Chief Minister
● Rekha Gupta took oath as the Chief Minister of Delhi, marking the BJP’s return to power in the
national capital after 27 years.
● The swearing-in ceremony at Ramlila Maidan was attended by Prime Minister Narendra
Modi, Union Home Minister Amit Shah, and Chief Ministers from BJP-ruled states.
● At 50 years old, Gupta became the fourth woman Chief Minister of Delhi, following Sushma
Swaraj, Sheila Dikshit, and Atishi.
● She won the Shalimar Bagh seat in the February 5 Delhi Assembly elections, securing

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 Important Monthly Current Affairs Capsule – February 2025

over 29,000 votes against her AAP rival, Bandana Kumari.

● Her Council of Ministers includes Parvesh Verma, Ashish Sood, Pankaj Singh, Manjinder Singh
Sirsa, Kapil Mishra, and Ravinder Indraj, who also took oath.
About Delhi:
● Chief Minister: Rekha Gupta
● Lieutenant Governor: Vinai Kumar Saxena
● Capital: New Delhi
● Wildlife Sanctuaries: Asola Bhatti Wildlife Sanctuary, Yamuna Biodiversity Park, Aravalli
Biodiversity Park
PayU Names Pramod Rao as New Chief Risk Officer
● PayU has appointed Pramod Rao as its new Chief Risk Officer (CRO).
● He will oversee risk management strategies, regulatory compliance, and financial security.
● Rao brings over 27 years of expertise in banking, financial services, and telecom.
● He has worked with Axis Bank, Vodafone Idea, Citibank, IDBI Bank, ICICI Bank, and HSBC,
specializing in risk management and compliance.
● His appointment is part of PayU’s leadership expansion, which includes key hires like Pranav
Pandya (Chief Compliance Officer) and Dimple Mehta (Company Secretary).
● PayU recently received in-principle authorization from the RBI to operate as an online payment
aggregator.
About PayU:
● Headquarters: Hoofddorp, Netherlands
● Founded: 2002
● CEO: Anirban Mukherjee
● Parent Company: Prosus
● Key Products: Payment Gateway, PayU Biz, PayU Credit, LazyPay, PayU Enterprise Solutions
N Biren Singh steps down as Manipur Chief Minister after two years of ethnic violence
• N Biren Singh, Chief Minister of violence-hit Manipur, resigned on February 9, 2025.
• Resignation follows two years of ethnic violence, causing hundreds of deaths and mass
displacement.
• Singh faced pressure from within and outside the Bharatiya Janata Party (BJP).
• Singh met Manipur Governor Ajay Bhalla before submitting his resignation.
• Congress’s No-Confidence Threat:
o The opposition Congress was preparing for a no-confidence vote.

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 Important Monthly Current Affairs Capsule – February 2025

o Reports suggest Congress aimed to gain BJP dissenters’ support.

Atishi resigns as Delhi Chief Minister day after election's loss, assembly dissolved
• Atishi submitted her resignation to Lieutenant Governor (LG) VK Saxena, a day after Aam Aadmi
Party’s heavy defeat in the Delhi assembly elections.
• As Delhi is a Union Territory, the President of India (Droupadi Murmu) is the appointing authority
for the Chief Minister.
• LG Saxena forwarded Atishi’s resignation to the President and asked her to continue as
caretaker CM until the new government is formed.

Lebanon Prime Minister forms new government, pledging reforms

• Lebanon's new government was formed with Nawaf Salam as Prime Minister after weeks of
negotiations.
• The formation follows strong U.S. intervention aimed at reducing Hezbollah’s influence and
ensuring political balance.
• The cabinet comprises 24 ministers, prioritizing financial reforms, reconstruction, and stability on
the Lebanon-Israel border.
About Lebanon:
• Capital: Beirut
• Currency: Lebanese Pound (LBP)
• President: Joseph Aoun
• Prime Minister: Nawaf Salam
Canara Bank appoints Dr. Madhavankutty G as chief economist
• Canara Bank appointed Dr. Madhavankutty G as Chief Economist, effective January 2025.
• He will provide strategic advice on domestic and global economic and financial sector
developments.
• Has over two decades of experience in economic research across banking, conglomerates, and
academia.
• Previously worked as a senior economist at Bank of India, Aditya Birla Group, and Times Group.
• Holds a postgraduate degree in business economics and a doctorate in international economics.
About Canara Bank:
• Founded: 1906
• Headquarters: Bengaluru, Karnataka, India

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 Important Monthly Current Affairs Capsule – February 2025

• Managing Director & CEO: K. Satyanarayana Raju

• Tagline: "Together We Can"

Nokia picks Intel's AI and data centre leader Hotard as new Chief Executive Officer
• Nokia announced that Pekka Lundmark will step down as CEO, and Justin Hotard will take over
from April 1, 2025.
• Hotard is currently EVP & GM of Data Center & AI Group at Intel.
• Telecom gear makers are struggling with lower 5G equipment sales and are shifting focus to AI
and data centres.
• Nokia Chair Sari Baldauf highlighted Hotard's expertise in AI and data centres as crucial for the
company's future growth.
About Nokia:
• Founded: 1865
• Headquarters: Espoo, Finland
• Current CEO: Pekka Lundmark (until March 31, 2025)
• Incoming CEO: Justin Hotard (effective April 1, 2025)

Romania President Klaus Iohannis resigns ahead of impeachment vote

• Romanian President Klaus Iohannis announced his resignation, effective February 12, 2025 after
mounting pressure from populist opposition groups.
• His presidency was extended in December 2024 after the Constitutional Court annulled the
presidential election, just before the December 8 runoff.
• The annulment followed far-right populist Calin Georgescu’s unexpected first-round victory, amid
allegations of Russian interference and electoral violations.
About Romania:
• Capital: Bucharest
• Currency: Romanian Leu (RON)
• Prime Minister: Marcel Ciolacu

Institute of Economic Growth Announces Professor Sabyasachi Kar as Its New Director
● Professor Sabyasachi Kar has been appointed as the Director of the Institute of Economic
Growth (IEG), New Delhi, effective February 6, 2025.
● He succeeds Professor Chetan Ghate.

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 Important Monthly Current Affairs Capsule – February 2025

● Kar currently serves as the Reserve Bank of India (RBI) Chair Professor at IEG.
About Institute of Economic Growth:
● Location : New Delhi, India
● Institute of Economic Growth (IEG) is a premier research and training centre in India.
● The Institute of Economic Growth (IEG), located in New Delhi, India, is a premier research
institution dedicated to the study of economic development, policy analysis, and social change.
● The IEG has played a pivotal role in shaping economic thought and policy in India.
● IEG also provides induction training for Indian Economic Service officers.
Former Credit Suisse Executive V. Anantha Nageswaran extended Chief Economic Adviser for 2 years
● The government has extended the tenure of Chief Economic Adviser (CEA) V Anantha
Nageswaran by more than two years until March 31, 2027.
● This extension virtually rules him out as a contender for the post of Reserve Bank of India (RBI)
Deputy Governor, a role for which he was recently interviewed.
Key Highlights:
● Michael Patra, the former RBI Deputy Governor in charge of monetary policy, retired in January,
2025.
● Nageswaran has recently advocated for a change in the RBI’s inflation target to exclude food
prices.
● His first term as CEA was for three years until January 2025.
● The CEA’s office is responsible for:
o Advising the government on various economic policies.
o Drafting the Economic Survey, which is presented in Parliament a day before the Union
Budget.
Kotak Mahindra Bank Announces Senior-Level Appointments in Leadership Overhaul
● Kotak Mahindra Bank has announced senior-level appointments, with Vyomesh Kapasi moving
to head products in the consumer bank.
● Shahrukh Todiwala has been elevated to replace Kapasi as the head of Kotak Mahindra Prime.
● Chinese Wok, India’s largest quick service restaurant chain specializing in Chinese cuisine, plans
to add 25 outlets in East India as part of its expansion.
● The company aims to increase revenues to ₹1,000 crore after closing FY25’s March quarter with
an annual revenue of ₹650 crore.
● The expansion is part of Chinese Wok’s broader strategy to strengthen its presence in India’s
fast-growing QSR market.

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 Important Monthly Current Affairs Capsule – February 2025

National Institution for Transforming India (NITI) Aayog Chief Executive Officer BVR Subrahmanyam’s
term extended beyond February 24, 2025
● The central government has extended NITI Aayog CEO BVR Subrahmanyam’s term by a
year, beyond February 24, 2025, or until further orders.
● This announcement was made by the Secretariat of the Appointments Committee of the Cabinet
under the Ministry of Personnel, Public Grievances and Pensions.
About NITI Aayog:
● The National Institution for Transforming India (NITI Aayog) is a government agency that advises
the central and state governments of India.
● It was established on January 1, 2015.
● Functions of NITI Aayog – The organization focuses on national development planning,
innovation, policy evaluation, and addressing inter-sectoral issues, while also ensuring national
security interests in economic policies.
● Chairperson: Narendra Modi
● Vice chairperson: Suman Bery
● CEO: BVR Subrahmanyam
FBI Director Kash Patel to be named US bureau of alcohol, tobacco, firearms and explosive (ATF) chief
● Newly appointed FBI Director Kash Patel is set to also lead the Bureau of Alcohol, Tobacco,
Firearms, and Explosives (ATF) as its acting director.
● This development follows the dismissal of ATF General Counsel Pamela Hicks by Attorney
General Pam Bondi, after President Donald Trump ordered the removal of all remaining Biden-
era U.S. Attorneys.
● Hicks, who served 28 years in the Department of Justice, confirmed her departure in a LinkedIn
post, expressing gratitude for her tenure.
● Patel’s confirmation as FBI chief faced opposition from Republican Senators Lisa Murkowski of
Alaska and Susan Collins of Maine but received backing from the rest of the Republican Party,
including Senate Minority Leader Mitch McConnell.
● The confirmation passed with a narrow 51-49 vote, with all Senate Democrats voting against him.
Former Reserve Bank of India governor Shaktikanta Das appointed Principal Secretary-2 to Prime
Minister Modi
● Former Governor of the Reserve Bank of India (RBI) Shaktikanta Dashas been
appointed Principal Secretary II to Prime Minister Narendra Modi, according to a notification
issued by the Secretariat of the Appointments Committee of the Cabinet.

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 Important Monthly Current Affairs Capsule – February 2025

● His expertise will be crucial in managing economic challenges such as trade wars, rupee volatility,
and slowing growth.
Friedrich Merz becomes Germany’s Next Chancellor
● Friedrich Merz, leader of Germany’s Christian Democratic Union (CDU), is set to become the
country’s next chancellor after his party won the national election on February 23, 2025.
Key Highlights:
● Political Background: Despite never holding a government role, Merz has been a longtime figure
in German politics and is known for his conservative stance.
● Election Victory: His CDU/CSU bloc secured 28.5% of the vote, making it the largest party in
the Bundestag (Germany’s parliament).
● Far-Right Surge: The Alternative for Germany (AfD) party finished second with 20%, its best-ever
result.
● Defeat of SPD: The Social Democratic Party (SPD), led by incumbent Chancellor Olaf Scholz, fell
to third place.
● Challenges Ahead: As chancellor-in-waiting, Merz will have to navigate Germany’s economic
slowdown, diplomatic crises, and the shifting transatlantic geopolitical landscape.
● With Europe in need of strong leadership, Merz’s tenure could mark a significant shift in
Germany’s political and economic approach.
Centre reconstitutes Atomic Energy Commission
● The Indian government has reconstituted the Atomic Energy Commission (AEC), incorporating
key officials into its leadership.
● T V Somanathan, the newly appointed Cabinet Secretary, and Manoj Govil, the Expenditure
Secretary, have been inducted as ex-officio members.
● Pankaj Kumar Mishra, who assumed the role of Member (Finance) last year, continues his tenure
on the commission.
● This restructuring was formalized through a notification issued on October 21, 2024, and
subsequently published in the Gazette on January 9, 2025.
Other Appointments:
● The reconstituted AEC is chaired by Ajit Kumar Mohanty, Secretary of the Department of Atomic
Energy.
● Other notable ex-officio members include National Security Adviser Ajit Doval, Principal
Secretary to the Prime Minister Pramod Kumar Mishra, and Foreign Secretary Vikram Misri.
● Additionally, the commission comprises esteemed former officials such as M R

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 Important Monthly Current Affairs Capsule – February 2025

Srinivasan and Anil Kakodkar, both former chairpersons of the AEC; P Rama Rao, former
Secretary of the Department of Science and Technology; Ravi B Grover, former Principal Adviser
of the Department of Atomic Energy; and K Kasturirangan, former Chairman of the Space
Commission.
● Vivek Bhasin, Director of the Bhabha Atomic Research Centre, also serves as an ex-officio
member.
● Established in August 1948, the AEC is responsible for formulating policies for the Department of
Atomic Energy, guiding India’s nuclear energy and research initiatives.
Nidhi Khare assumes additional charge as Ministry of New and Renewable Energy (MNRE) secretary
● Nidhi Khare, a 1992-batch Indian Administrative Service (IAS) officer from the Jharkhand cadre,
has been assigned the additional role of Secretary for the Ministry of New and Renewable
Energy (MNRE) as of January 14, 2025.
● This appointment follows the repatriation of the previous secretary, Prashant Kumar Singh, to his
parent cadre in Manipur, where he has assumed the position of Chief Secretary.
Unilever Chief Executive Officer Hein Schumacher to step down, current Chief Financial Officer to take
over: 3 key details on the change of guard
● Hein Schumacher is stepping down as Chief Executive Officer (CEO) and Board
Director on March 1, 2025, and will officially leave Unilever on May 31, 2025.
● He is leaving by mutual agreement and will be treated as a good leaver under Unilever’s
Remuneration Policy.
● Successor: Fernando Fernandez, currently Unilever’s Chief Financial Officer (CFO) and
Executive Director, will take over as CEO from March 1, 2025.
● Fernando has previously served as President of Unilever’s Beauty & Wellbeing
business, President of Latin America, CEO of Brazil, and CEO of the Philippines.
New CFO Appointment
● Current CFO Fernando Fernandez will become CEO, requiring a new CFO appointment.
● Temporary CFO: Srinivas Phatak, currently Deputy CFO and Group Controller, will take over
as Acting CFO from March 1, 2025.
● A global search is underway for a permanent CFO.
● Srinivas has previously served as CFO of Hindustan Unilever Limited (HUL) and held senior
roles in finance, strategy, and supply chain.
Tata Sons chairman N Chandrasekaran to lead Ratan Tata Endowment Foundation
● Natarajan Chandrasekaran, Chairman of Tata Sons, has been appointed as the Chairman of the

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 Important Monthly Current Affairs Capsule – February 2025

Ratan Tata Endowment Foundation (RTEF).

● The appointment was made by the executors of Ratan Tata’s will:
o Darius Khambata
o Mehli Mistry
o Shireen Jejeebhoy (half-sister of Ratan Tata)
o Deanna Jejeebhoy (half-sister of Ratan Tata)
● The decision was taken after seeking external legal counsel.
● Chandrasekaran will formalize the management structure and leadership team for RTEF.
● The distribution of Ratan Tata’s wealth to RTEF will happen after his will is submitted for
probate at the Bombay High Court.
● Probate approval is expected to take up to six months.
● Once approved, RTEF will receive funds from Ratan Tata’s stakes in:
o Tata Sons
o Tata Technologies
o Tata Digital
About the Ratan Tata Endowment Foundation:
● Established by the late Ratan Tata as a Section 8 company for charitable and philanthropic
initiatives.
● Operates independently of Tata Trusts.
● Unlike Tata Trusts, there is no restriction on the Chairman of Tata Sons serving as its Chairman.
SBI Life Appoints Dorababu Daparti As Deputy Chief Executive Officer
● Dorababu Daparti has been appointed as Deputy Chief Executive Officer (CEO) of SBI Life
Insurance, with effect from 24 February 2025.
● His appointment was approved by the board based on the recommendation of the Nomination
and Remuneration Committee.
● Daparti has over 29 years of experience in the financial industry.
About SBI Life Insurance:
● Headquarters: Mumbai, Maharashtra, India
● Founded: 2001
● CEO: Amit Jhingran
● Subsidiaries: SBI Pension Funds Pvt. Ltd.
● Key Products: Life Insurance, Health Insurance, Pension Plans, Unit-Linked Insurance Plans
(ULIPs), Term Insurance, Child Plans, Retirement Plans, Critical Illness Plans

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 Important Monthly Current Affairs Capsule – February 2025

Delhi Chief Minister to move motion for Mohan Singh Bisht as Deputy Speaker
● Delhi Chief Minister Rekha Gupta welcomed well-wishers at her residence on February 27,
2025, ahead of proposing BJP MLA Mohan Singh Bisht for the Deputy Speaker post in the Delhi
Assembly.
● The List of Business confirmed that MLA Anil Kumar Sharma will also propose the motion,
with Gajender Singh Yadav seconding it.
● Additionally, the Delhi Assembly will discuss the Comptroller and Auditor General (CAG)
report on the ‘Performance Audit Report on Regulation and Supply of Liquor in
Delhi’ on February 27, 2025.

MOUS AND AGREEMENT

Ministry of Statistics and Programme Implementation Signs MoU with IIIT-Delhi under Data Innovation
Lab Initiative
● The Data Informatics and Innovation Division of the Ministry of Statistics and Programme
Implementation (MoSPI) signed a Memorandum of Understanding (MoU) with Indraprastha Institute of
Information Technology (IIIT-Delhi) under the Data Innovation (DI) Lab Initiative.
● Launched in July 2024, the DI Lab aims to modernize the National Statistical System by fostering
innovation and research-driven solutions.
● Focuses on emerging technologies such as Artificial Intelligence (AI), Machine Learning (ML),
and Big Data Analytics to improve data collection, processing, and dissemination.
Ministry of Electronics & Information Technology and IIT Indore Launch AgriHub: AI-Driven Center for
Agricultural Innovation
● In collaboration with IIT Indore, the Ministry of Electronics & Information Technology (MeitY) has
launched AgriHub, an AI-driven Center of Excellence (CoE) to revolutionise Indian agriculture.
● The initiative will leverage Artificial Intelligence (AI), Machine Learning (ML), and Deep Learning
(DL) to address key agricultural challenges such as drought, floods, and low productivity.
● Collaborating Institutions:
o IIT Indore
o MeitY
o ICAR-IISR Indore
o ICAR-CIAE Bhopal
o C-DAC Pune
o Madhya Pradesh Government

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 Important Monthly Current Affairs Capsule – February 2025

Karnataka to Sign MoUs for ‘KWIN’ Knowledge Hub Ahead of GIM 2025
● Ahead of the Global Investor Summit 2025 (GIM 2025), Karnataka is set to sign Memorandum of
Understanding (MoUs) with 5-6 foreign universities and 6-8 Indian universities to establish institutions in
its upcoming Knowledge and Innovation Hub (KWIN City).
● Location: 5,000 acres between Doddaballapur and Dabaspet, Karnataka.
● Objective: Establish a hub for education, healthcare, research, and innovation.

OpenAI Partners with Kakao in South Korea Amid Growing AI Competition

● Sam Altman, CEO of OpenAI, signed a strategic partnership with South Korean tech giant
Kakao, aiming to expand OpenAI’s reach and explore new alliances in the face of intense competition,
particularly from Chinese AI firm DeepSeek.
● The deal will allow Kakao to use ChatGPT in its AI services, marking a significant step in
OpenAI's global strategy.
● Kakao will integrate ChatGPT-powered services to enhance its messaging service, online
banking, and taxi-hailing app.
About South Korea
● Capital: Seoul
● President: Yoon Suk Yeol
● Prime minister: Han Duck-soo
● Currency: Won
Indian Army & IIT Guwahati Collaborate on Bamboo-Based Composite Bunkers
● The Indian Army, in collaboration with IIT Guwahati, has initiated the development of bamboo-
based composite bunkers as a sustainable alternative to conventional military structures.
● This project is designed to enhance sustainability, reduce weight, and improve deployability in
high-altitude regions like Arunachal Pradesh.
● The initiative aligns with the Army’s ‘Decade of Transformation’ vision, emphasizing the
integration of advanced materials into defense infrastructure.
● Objective: Develop epoxy bamboo-based composite bunkers to replace traditional concrete and
steel structures in extreme terrains.

Indian Institute of Corporate Affairs and Carbon Market Association of India Sign Memorandum of
Understanding in New Delhi to Strengthen India’s Carbon Markets and Decarbonisation Efforts

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 Important Monthly Current Affairs Capsule – February 2025

● In a significant move to bolster India’s carbon markets and decarbonisation efforts, the Indian
Institute of Corporate Affairs (IICA) and the Carbon Market Association of India (CMAI) have signed a
Memorandum of Understanding (MoU) in New Delhi.
● This agreement was revealed during the inaugural session of the IICA-CMAI Masterclass on
Global & Indian Carbon Markets, with Shri Nitin Gadkari, Minister for Road, Transport & Highways,
emphasizing the vital role of biofuels, green hydrogen, and sustainable energy solutions for India’s
economic and environmental future.

Amazon & CleanMax Partner for 100 MW Renewable Energy Project

• CleanMax, a leading renewable energy provider, has signed a Power Purchase Agreement
(PPA) with Amazon to develop a 100 MW renewable energy project in India.
• The Brookfield-backed company will develop and operate a wind farm, contributing to Amazon’s
sustainability goals and supporting India's transition to clean energy.
About Amazon
• Headquarters: Seattle, Washington, United States
• Founded: 5 July 1994
• Founder: Jeff Bezos
• CEO: Andy Jassy

Indian Sign Language Research and Training Centre and National Book Trust sign Memorandum of
Understanding at World Book Fair 2025 to promote Indian Sign Language, under DEPwD, Ministry of
Social Justice & Empowerment
• An Memorandum of Understanding (MoU) was signed between the Indian Sign Language
Research and Training Centre (ISLRTC), under the Department of Empowerment of Persons
with Disabilities (DEPwD), Ministry of Social Justice & Empowerment, and the National Book
Trust (NBT) at the World Book Fair 2025.
• To convert 500 NBT storybooks and other general reading materials into Indian Sign Language
(ISL), making them accessible for Deaf children.
• Signatories: Shri Kumar Raju, Director of ISLRTC, and Shri Yuvraj Malik, Director of NBT, along
with Shri Rajeev Sharma, Joint Secretary, DEPwD, and Professor Milind Sudhakar Marathe,
Chairperson of NBT.

India, Nicaragua sign agreements to implement Quick Impact Projects

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 Important Monthly Current Affairs Capsule – February 2025

• In a significant step to strengthen bilateral relations, India and Nicaragua have signed a
Memorandum of Understanding (MoU) to implement Quick Impact Projects (QIPs).
• The agreement was signed by the Indian Ambassador to Panama, Nicaragua, and Costa Rica,
Sumit Seth, and Nicaragua’s Foreign Minister, Valdrack Jaentschke, in the capital city of
Managua.
About Nicaragua
• Capital: Managua
• Currency: Córdoba

Department for Promotion of Industry and Internal Trade and Korea Transport Institute (KOTI), Republic
of Korea Transport Institute Sign MoU to Boost Collaboration in Logistics and Infrastructure
Development
• The Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, and
the Korea Transport Institute (KOTI), Republic of Korea, signed a Memorandum of
Understanding (MoU) to strengthen logistics and infrastructure collaboration.
• The agreement was signed at the Sejong National Research Complex, South Korea, by:
• Mr. Youngchan Kim, President of KOTI
• H.E. Amit Kumar, Ambassador of India to South Korea

India and European Free Trade Association Strengthen Economic Ties with the Inauguration of the
India-EFTA Desk
• India and the European Free Trade Association (EFTA)—comprising Switzerland, Norway,
Iceland, and Liechtenstein—have launched the India-EFTA Desk to facilitate deeper economic
ties.
• This follows the India-EFTA Trade and Economic Partnership Agreement (TEPA), positioning
EFTA as the first European bloc to sign a trade pact with India.
• Union Minister Piyush Goyal hailed TEPA as a historic agreement showcasing India's growing
global trade influence.
• India aims to attract $100 billion in EFTA investments, fostering mutually beneficial trade
relations.
About EFTA
• Founders: Switzerland, Norway, United Kingdom, Denmark, Sweden, Austria, Portugal
• Founded: 4 January 1960

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 Important Monthly Current Affairs Capsule – February 2025

India-Israel Business & CEO Forums to Strengthen Bilateral Economic Ties

• India and Israel are set to enhance economic and trade relations through the upcoming India-
Israel Business Forum and India-Israel CEO Forum in New Delhi.
• These forums aim to bolster bilateral trade, technological collaborations, and cross-sector
partnerships.
• Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce &
Industry, Government of India
• Embassy of Israel
• Confederation of Indian Industry (CII)

India Inaugurates New Consulate in Marseille: Strengthening Indo-French Relations

• Prime Minister Narendra Modi and French President Emmanuel Macron will jointly inaugurate the
Indian Consulate in Marseille.
• This will be India’s second diplomatic mission in France, following its embassy in Paris.
• The move signifies India’s commitment to deeper economic, cultural, and strategic engagement
with France, particularly in the country’s southern region.
About France
• Capital: Paris
• President: Emmanuel Macron
• Prime minister: François Bayrou

Apparel Training & Design Centre (ATDC) and South Eastern Coalfields Limited (SECL) Sign MoU to
Train 400 Unemployed Youth in Chhattisgarh and MP
• The Apparel Training & Design Centre (ATDC), Gurugram, signed a Memorandum of
Understanding (MoU) with South Eastern Coalfields Limited (SECL), a subsidiary of Coal India
Limited (CIL), under the Ministry of Coal.
• The signing ceremony took place at Shastri Bhawan, New Delhi, in the presence of key
dignitaries, including Ms. Rupinder Brar, Additional Secretary, Ministry of Coal, and Ms. Santosh,
Deputy Director General, Ministry of Coal.
• Other attendees included Shri Biranchi Das, Director (P), SECL; Shri Rakesh Vaid, Senior Vice
Chairman, ATDC; Dr. Vijay Mathur, Director General & CEO, ATDC; and Shri Alok Kumar,
General Manager (Civil/CSR), SECL, along with officials from both SECL and ATDC.

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 Important Monthly Current Affairs Capsule – February 2025

About Ministry of Coal:

• Cabinet Minister: Shri G. Kishan Reddy
• Minister of State (MoS): Shri Satish Chandra Dubey

Department of Telecommunications (DoT) and Coalition for Disaster Resilient Infrastructure (CDRI),
unveil roadmap to strengthen India’s telecom resilience
• The Department of Telecommunications (DoT), in collaboration with the Coalition for Disaster
Resilient Infrastructure (CDRI), launched a comprehensive report on Disaster Risk and
Resilience Assessment Framework (DRRAF) to strengthen India’s telecom sector against
disasters.
• The report is part of a study on National and Sub-national Disaster Risk & Resilience
Assessment for the Telecommunication Sector by CDRI.
• The study was conducted across five states—Assam, Odisha, Tamil Nadu, Uttarakhand, and
Gujarat, focusing on disaster risks and resilience strategies.
About Ministry of Communications:
• Cabinet Minister: Shri Jyotiraditya M. Scindia
India Energy Week 2025: Key Agreements & memorandum of understanding Signed to Strengthen
Energy Security
● At India Energy Week 2025, India signed multiple strategic agreements and memorandum of
understanding (MoUs) to enhance energy security, diversify supply sources, and foster
innovation in the oil and gas sector.
● Shri Hardeep Singh Puri, Minister of Petroleum and Natural Gas, highlighted these agreements
as crucial for ensuring a resilient and sustainable energy future.
Major Agreements Signed
1. Diversification of Crude Oil Imports
● BPCL & Petrobras (Brazil): Optional term contract to import up to 6 million barrels of crude.
2. Transition to a Natural Gas-Based Economy
● IOCL & ADNOC (UAE): USD 7 billion contract to source 1.2 MMTPA LNG for 14 years (from
2026).
● BPCL & ADNOC: 5-year LNG offtake agreement for 2.4 MMT, extendable by another five years.
● IOCL & Nepal’s Yogya Holdings: First LNG export agreement with 1,000 metric tons (TMT)
annually via cryogenic trucks through Odisha’s Dhamra Terminal.
3. Offshore Oilfield & Hydrocarbon Exploration

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 Important Monthly Current Affairs Capsule – February 2025

● ONGC & BP: BP selected as Technical Services Provider for Mumbai High field, India’s largest
offshore oilfield.
● EIL & BP Business Solutions India: MoU for collaboration on refining, pipeline operations, and
emission reduction technologies.
● ONGC Videsh Limited. & Petrobras: MoU for upstream oil & gas projects in Brazil, India, and
third countries, including low-carbon solutions.
● Oil India Ltd. & Petrobras: MoU for hydrocarbon exploration in India’s deep and ultra-deep
offshore basins, aligning with the Hydrocarbon Exploration and Licensing Policy (HELP).
4. Advancing Clean Energy & Biofuels
● BPCL & Eco Wave Power (Israel): Establishment of India’s first wave energy pilot
project in Mumbai using wave energy converter technology.
● BPCL & National Sugar Institute (Kanpur): MoU to scale up sweet sorghum-based bioethanol
production and build capacity for farmers & industry partners.
5. Hydrocarbon Trade Enhancement
● BPCL & Equinor India Pvt. Ltd.: Agreement for LPG (propane & butane) purchases.
Philippines to Place $200 Million Order for India’s Akash Missile System
● The Philippines is set to place an order worth $200 million for India’s indigenously developed
Akash short-range missile system in the upcoming financial year.
● This move comes amid rising tensions with China in the South China Sea.
Key Highlights of the Deal
● The Akash missile system, developed by DRDO, has a range of up to 25 km.
● The Philippine deal is expected to be bigger than the $230-million Armenian deal signed last year.
● The exact number of missiles and radar systems involved has not been disclosed.
● This will be India’s second major defence export to Manila after the $375-million BrahMos missile
deal (2022).
India-Philippines Defence Cooperation
Value
Year Deal Remarks
($ Million)

BrahMos Supersonic Cruise The first major defence export to the

2022 375
Missile Philippines

Akash Short-Range Missile Second major deal with the

2023 200 (Expected)
System Philippines

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 Important Monthly Current Affairs Capsule – February 2025

Department for Promotion of Industry and Internal Trade Partners with Rukam Capital and Bootstrap
Incubation & Advisory Foundation to Boost Startup Ecosystem
● The Department for Promotion of Industry and Internal Trade (DPIIT) has announced a strategic
partnership with Rukam Capital and Bootstrap Incubation & Advisory Foundation to drive the
holistic growth of India’s startup ecosystem.
● This collaboration was formalized through a Memorandum of Understanding (MoU) and aims to
create dedicated programs and initiatives for product startups, innovators, and entrepreneurs.
● The primary goal of this initiative is to empower startups by providing access to crucial resources,
including infrastructure, mentor networks, funding opportunities, market linkages, and a
knowledge repository.
● The partnership will guide startups in achieving critical milestones such as prototype
development and provide strategic support for international expansion.
India and Indonesia Sign Memorandum of Understanding on Traditional Medicine Quality Assurance
● At Hyderabad House, New Delhi, Prime Minister of India, Shri Narendra Modi, and President of
Indonesia, Mr. Prabowo Subianto, witnessed the Exchange of Memorandum of Understanding
(MoU) between India and Indonesia.
● One of the key MoUs exchanged was in the Field of Traditional Medicine Quality Assurance,
signed between the Pharmacopoeia Commission for Indian Medicine & Homeopathy, Ministry of
Ayush, and the Indonesian Food and Drug Authority.
● The Pharmacopoeia Commission for Indian Medicine & Homeopathy (PCIM&H) is an IS/ISO
9001:2015 certified institution committed to maintaining and establishing quality standards
for Indian medicine and homeopathy.
India and European Union Strengthen Cooperation on Smart and Sustainable Urbanization
● The 4th India-European Union (EU) Urban Forum served as a crucial step in shaping
a collaborative approach to India’s urban transformation.
● It reinforced the shared commitment of India and the EU to driving smart, sustainable, and
inclusive urban development in line with the Ministry of Housing and Urban Affairs (MoHUA)’s
programs and missions.
● The forum focused on three key themes aimed at fostering resilient, gender-inclusive, and
sustainable urban development:
● Urban Alliance and Integrated Approaches in Indian Cities – Promoting holistic urban planning
and collaboration across multiple sectors.
● Promoting Innovation and Circularity at the City Level – Encouraging the adoption of circular

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 Important Monthly Current Affairs Capsule – February 2025

economy principles for sustainable urban growth.

● Inclusive Urban Mobility as a Social Enabler – Enhancing public transportation and accessibility
to improve social equity.
Ministry of Labour & Employment Signs MoU with APNA to Boost Job Opportunities
● The Ministry of Labour & Employment (MoLE) has signed an MoU with APNA, a leading job
recruitment platform, to enhance employment prospects for young job seekers.
● This partnership will add over 10 lakh job opportunities annually to the National Career Service
(NCS) Portal, strengthening domestic employment avenues.
About the NCS Portal
● Serves as a bridge between job seekers and employers.
● 40 lakh+ registered employers and 40 crore vacancies mobilized since its launch.
● Nearly 10 lakh vacancies available at any given time.
India and Qatar Elevate Bilateral Ties to Strategic Partnership, Enhancing Trade, Investment, and
Energy Cooperation
● India and Qatar have decided to upgrade their bilateral relations to a strategic partnership,
focusing on trade, investment, and energy cooperation.
● This decision was announced during the two-day visit of Qatari Amir Sheikh Tamim Bin Hamad
Al Thani to India.
● Both nations aim to double their bilateral trade from $14.08 billion to $28 billion within the next
five years, with Qatar expressing strong interest in expanding investments in India’s key sectors.
India-International Telecommunication Union Collaboration on AI-Driven Digital Twins for Infrastructure
● The Department of Telecommunications (DoT) and the International Telecommunication Union
(ITU) have taken a major step in digital infrastructure planning by signing a Letter of Intent
(LoI) to explore the potential of AI-driven digital twin technologies.
● This partnership aims to integrate 5G, IoT, AI, and AR/VR into urban and infrastructure planning
by creating real-time virtual models of physical assets.
India and Nepal Strengthen Science & Technology Collaboration with MoU Between Council of
Scientific and Industrial Research and Nepal Academy of Science and Technology
● Marking a significant milestone in Science and Technology (S&T) cooperation, the Council of
Scientific and Industrial Research (CSIR), India, and the Nepal Academy of Science and
Technology (NAST) formalized a Memorandum of Understanding (MoU) at CSIR-National
Physical Laboratory (CSIR-NPL), New Delhi.
MoU Highlights

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 Important Monthly Current Affairs Capsule – February 2025

● Signed by:
o N. Kalaiselvi, Director General, CSIR & Secretary, DSIR
o Dr. Dilip Subba, Vice-Chancellor, NAST
● Objective: Strengthening bilateral scientific and technological collaboration between India and
Nepal.
India and Argentina Strengthen Lithium Mining Cooperation with Strategic Memorandum of
Understanding
● Union Minister for Coal and Mines, Shri G. Kishan Reddy, along with senior officials from
the Ministry of Mines, held a high-level meeting with E. Raúl Alejandro Jalil, Governor of
Catamarca, Argentina, in New Delhi.
● The discussions centered on expanding cooperation in the mining sector, with a special focus
on lithium exploration and investment opportunities.
Key Highlights of the Meeting
● Signing of MoU: A Memorandum of Understanding (MoU) was signed between Mineral
Exploration and Consultancy Limited (MECL), a PSU under the Ministry of Mines, and
the Provincial Government of Catamarca, Argentina.
● Focus Area: Strengthening collaboration in exploration and resource development of critical
minerals, particularly lithium.
● Strategic Importance: Argentina, part of the ‘Lithium Triangle’, holds vast lithium reserves,
making it a key partner for India’s push towards electric vehicle (EV) batteries and renewable
energy storage.
SPM-NIWAS and Arghyam Partner to Develop Digital Public Infrastructure for WASH Sector
● The Syama Prasad Mookerjee National Institute of Water and Sanitation (SPM-
NIWAS) and Arghyam have signed a Memorandum of Understanding (MoU) to collaborate on
developing Digital Public Infrastructure (DPI) for the Water, Sanitation, and Hygiene (WASH)
sector.
● This initiative aligns with the Government of India’s vision to enhance water and sanitation
service delivery through digital solutions.
● Objective of the PartnershipThe collaboration aims to conceptualize, design, and
implement a digital ecosystem to support key national programs:
● Jal Jeevan Mission (JJM)
● Swachh Bharat Mission (SBM-G)
● Under this agreement:

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 Important Monthly Current Affairs Capsule – February 2025

● SPM-NIWAS will lead the implementation of digital initiatives.

● Arghyam, as a key knowledge partner, will contribute expertise in technology-driven water
governance.
Tribal Cooperative Marketing Development Federation of India Limited Partners with Meesho,Indian
Federation of Culinary Associations , and Mahatma Gandhi Institute of Rural Industrialization to Boost
Tribal Businesses
● In a strategic move to shift from a B2C to a B2B approach for tribal communities, the Tribal
Cooperative Marketing Development Federation of India Ltd (TRIFED) has entered into key
partnerships with Meesho, the Indian Federation of Culinary Associations (IFCA), and the
Mahatma Gandhi Institute of Rural Industrialization (MGIRI).
● The Memoranda of Understanding (MoUs) were signed, during the flagship event ‘Aadi
Mahotsav’ at Major Dhyan Chand National Stadium, New Delhi, which runs from February 16 to
24, 2025.
Objectives of the MoUs
1. TRIFED – Meesho Partnership
● Onboarding of tribal products onto Meesho’s social commerce platform.
● Training and capacity-building initiatives for tribal suppliers to improve their market presence.
2. TRIFED – IFCA Partnership
● Long-term collaborations with culinary professionals and hotel chains.
● Utilization of technology-driven platforms to promote tribal food products and traditional cuisines.
3. TRIFED – MGIRI Partnership
● Knowledge partnership for training and capacity-building of tribal artisans.
● Promoting sustainable rural industrialization in line with Mahatma Gandhi’s vision.
Tata Power Partners with AWS to Modernize India’s Energy Sector
● Tata Power has announced a strategic partnership with Amazon Web Services
(AWS) to modernize its digital infrastructure and accelerate India’s transition toward a
sustainable energy ecosystem.
● This collaboration will leverage cloud technology, artificial intelligence (AI), and the Internet of
Things (IoT) to enhance operational efficiency, strengthen grid resilience, and empower
consumers with smarter energy management tools.
Hindustan Aeronautics Limited (HAL) and the Defence Institute of Advanced Technology
(DIAT) for cutting-edge advancements in aerospace technology.

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● Hindustan Aeronautics Limited (HAL) and the Defence Institute of Advanced Technology
(DIAT) have joined forces to drive cutting-edge advancements in aerospace technology.
● This collaboration aims to foster research, innovation, and the development of next-generation
aviation solutions for India’s defense and aerospace sector.
Objective of the Partnership
● Strengthening collaboration between aerospace industry and academia.
● Advancing research and development in aerospace technology.
● Enhancing skill development and innovation in defense and aviation.
Bisleri Partners with Archaeological Survey of India for Heritage Water Conservation Under ‘Adopt a
Heritage 2.0’
● Bisleri International has signed a Memorandum of Understanding (MoU) with the Archaeological
Survey of India (ASI) under the ‘Adopt a Heritage 2.0 Programme’ to restore and conserve
historic water bodies at heritage sites across India.
● This initiative is part of Bisleri’s CSR program, ‘Nayi Umeed,’ which focuses on sustainable water
conservation and heritage preservation.
● The project aims to revive four key historic water bodies in its initial phase, ensuring ecological
restoration and improved tourism experiences.
Centre for Development of Telematics and IIT Delhi Collaborate for Indigenous 6G THz Communication
Development
● In a major step towards developing indigenous hardware for 6G telecommunications, the Centre
for Development of Telematics (C-DOT) has signed an agreement with IIT Delhi to
develop “Building Blocks for THz Communication Front Ends”.
● This initiative aligns with the Bharat 6G Vision, which aims to design, develop, and deploy next-
generation network technologies that ensure intelligent, secure, and high-quality connectivity.
Objective
● Develop fundamental devices and components essential for THz (terahertz) communication
systems for 6G networks.
● Extend THz technology for applications in military communications and material characterization.
C-DOT and IIT Bombay Collaborate to Develop Optical Transceiver Chipset for 6G Wireless Links
● The Centre for Development of Telematics (C-DOT) has signed an agreement with IIT
Bombay to develop an “Optical Transceiver Chipset for High-Bandwidth 6G Wireless Links”.
● This initiative, part of India’s Bharat 6G Vision, aims to design, develop, and deploy next-
generation 6G technology by 2030, focusing on affordability, sustainability, and ubiquity.

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 Important Monthly Current Affairs Capsule – February 2025

Ministry of Electronics & Information Technology and Data Security Council of India Launch Cyber
Security Grand Challenge 2.0 with Rs. 6.85 Crore Prize Pool
● The Ministry of Electronics & Information Technology (MeitY), in collaboration with the Data
Security Council of India (DSCI), has launched the second edition of the Cyber Security Grand
Challenge (CSGC 2.0).
● This initiative aims to strengthen India’s cybersecurity ecosystem by promoting innovative
solutions in critical areas.
Comptroller and Auditor General of India (CAG) and the Indian Institute of Technology Madras (IIT
Madras) Collaborate for Sustainable Audit
● The Comptroller and Auditor General of India (CAG) and the Indian Institute of Technology
Madras (IIT Madras) have signed a Memorandum of Understanding (MoU) to enhance audit
skills, leverage AI & ML for sustainable auditing, and improve data analysis capabilities.
Tribal Cooperative Marketing Development Federation of India Limited Signs MoUs with National
Institute of Fashion Technology & Himachal Pradesh Horticulture Produce Marketing and Processing
Corporation Limited to Boost Tribal Marketing with B2B Approach
● In a strategic move to shift from B2C to B2B for tribal marketing, the Tribal Cooperative
Marketing Development Federation of India Ltd (TRIFED), under the Ministry of Tribal Affairs,
has partnered with NIFT (National Institute of Fashion Technology) and HPMC (Himachal
Pradesh Horticulture Produce Marketing and Processing Corporation Ltd).
● The MoUs were signed in New Delhi during the ‘Aadi Mahotsav’ festival at Major Dhyan Chand
National Stadium.
Department for Promotion of Industry and Internal Trade and Paytm Collaborate to Boost India’s Startup
Ecosystem
● The Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, has
signed a Memorandum of Understanding (MoU) with Paytm (One97 Communications Limited) to
drive innovation and accelerate the growth of manufacturing and fintech startups in India.
Key Objectives of the Collaboration
● Mentorship & Infrastructure Support – Paytm will provide mentorship, infrastructure, market
access, and funding opportunities to startups.
● Fintech Hardware Development – The initiative will help fintech hardware startups develop and
scale payment and financial technology solutions.
● Regulatory & Compliance Assistance – Workshops and guidance will be organized in
collaboration with industry and government bodies.

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 Important Monthly Current Affairs Capsule – February 2025

● Market Access & Testing – Startups will be able to test, validate, and refine their products while
leveraging Paytm’s extensive merchant network.
India and European Union to Review Free Trade Talks and Strengthen Strategic Ties
● India and the European Union (EU) are set to assess progress on their ongoing negotiations for
a comprehensive free trade agreement (FTA) while shaping a new strategic agenda.
● European Commission President Ursula von der Leyen, along with the EU College of
Commissioners, will visit India for two days, engaging in discussions with Prime Minister
Narendra Modi and senior Indian ministers.
Leyen’s Previous Visits to India
● This marks her third visit to India, following a bilateral trip in April 2022 and participation in
the G20 Leaders’ Summit in September 2023.
● The visit is expected to lay the groundwork for a major India-EU summit in the second half
of 2025, where the new strategic roadmap will be unveiled.

RANKING AND REPORTS

Indian quick-commerce startup, Zepto Becomes the Second Most Downloaded App Globally in Foods
and Drinks Category in 2024, Says Sensor Tower
● Zepto, the Indian quick-commerce startup, achieved remarkable success in 2024, becoming the
second most downloaded app globally in the foods and drinks category, according to Sensor Tower
data.
● McDonald’s secured the top position in this category.
● Global Ranking in Food & Drink Apps
● Rank ● App
● 1 ● McDonald's
● 2 ● Zepto
● 3 ● KFC
● 4 ● Domino's Pizza
● 5 ● Zomato
● 6 ● Burger King
● 7 ● Grab
● 8 ● Uber Eats
● 9 ● Swiggy

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 Important Monthly Current Affairs Capsule – February 2025

● 10 ● Blinkit
About Zepto
● Founded: July 2021
● Headquarters: Bengaluru, India
● CEO : Aadit Palicha

India retains third position globally for Leadership in Energy and Environmental Design (LEED) Green
Building Certification in 2024
• India has maintained its third position in the U.S. Green Building Council's (USGBC) annual
ranking of countries with the most Leadership in Energy and Environmental Design (LEED)-
certified green buildings in 2024.
• The country recorded 370 LEED-certified projects, covering 8.5 million gross square meters
(GSM).
Henley Index: Singapore's passport is the world's strongest, India at the 80th spot
• The Henley Passport Index 2025, compiled by Henley & Partners, ranks 199 passports based on
visa-free and visa-on-arrival access to global destinations.
• Based on International Air Transport Association (IATA) data, the rankings highlight global
mobility trends.
Top 10 Rankers in Henley Passport Index 2025
• Rank • Country

• 1st • Singapore

• 2nd • Japan, South Korea

• 3rd • Finland, France, Germany, Spain, Italy, Ireland

• 4th • Austria, Belgium, Luxembourg, Netherlands, Norway, Portugal,

Sweden
• 5th • Greece, New Zealand, Switzerland

• 6th • Australia, United Kingdom

• 7th • Canada, Czechia, Hungary, Malta, Poland

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 Important Monthly Current Affairs Capsule – February 2025

• 8th • Estonia, UAE

• 9th • Croatia, Latvia, Slovakia, Slovenia, United States

Corruption Perceptions Index (CPI) 2024: India's Rank Drops to 96th

• Transparency International has released the Corruption Perceptions Index (CPI) 2024, ranking
India at 96th position out of 180 countries with a score of 38.
• This marks a decline from 39 in 2023 and 40 in 2022, reflecting growing concerns over public
sector corruption.
• The CPI measures perceived levels of corruption on a scale from 0 (highly corrupt) to 100 (very
clean).
• Least Corrupt Nations:
o Denmark (1st)
o Finland (2nd)
o Singapore (3rd)

India's Performance in the World Bank’s Logistics Performance Index (LPI) 2023
• India has made significant progress in the World Bank’s Logistics Performance Index (LPI) 2023,
achieving:
• 22nd Rank in the International Shipments category
• 38th Rank in Overall Logistics Performance
• This reflects India's enhanced efficiency in logistics, particularly in port operations and freight
movement.
• India’s ports have significantly reduced their turnaround time to 0.9 days, surpassing several
developed nations.

Hyundai Motor India added to MSCI Emerging Markets Index

• Hyundai Motor India has been added to both the MSCI Emerging Markets Index and the MSCI
India Domestic Index.
• Adani Green Energy has been removed from the MSCI India Domestic Index.
• These changes will be implemented on February 28, 2025, and take effect from March 3, 2025.
• There are 20 additions to the MSCI India Domestic Small Cap Index.

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 Important Monthly Current Affairs Capsule – February 2025

Bloomberg’s List of Asia’s 20 Richest Families (2025)

● Indians continue to dominate Asia’s wealth rankings, with six Indian families making it
to Bloomberg’s list of Asia’s 20 richest families.
● The Ambani family leads the chart with a massive fortune of $90.5 billion, significantly ahead of
the second-richest family in Asia.
Top 10 Richest Families in Asia
Net Worth
Rank Family Country Company / Industry
(Billion $)

Reliance Industries – Oil,

1 Ambani India 90.5
Telecom, Retail

Charoen Pokphand Group –

2 Chearavanont Thailand 42.6
Food, Retail, Telecom

Bank Central Asia – Banking,

3 Hartono Indonesia 42.2
Tobacco

Shapoorji Pallonji Group –

4 Mistry India 37.5
Engineering, Construction

Sun Hung Kai Properties –

5 Kwok Hong Kong 35.6
Real Estate

Cathay Life & Fubon

6 Tsai Taiwan 30.9 Insurance – Finance, Real
Estate

OP Jindal Group – Steel,

7 Jindal India 28.1
Energy, Cement

TCP Group – Red Bull

8 Yoovidhya Thailand 25.7
(Beverages)

Aditya Birla Group – Financial

9 Birla India 23.0
Services, Metal, Retail

South
10 Lee 22.7 Samsung – Electronics
Korea
Other Indian Families in the Top 20

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 Important Monthly Current Affairs Capsule – February 2025

Rank Family Country Net Worth (Billion $) Company / Industry

Bajaj Group – Automobiles,

12 Bajaj India 20.1
Finance

Hinduja Group – Diversified

15 Hinduja India 15.2
Conglomerate
India’s strong representation in the list showcases its business acumen, industrial diversification, and
global economic influence.
Karnataka Tops Local Governance Health Index 2024
● Karnataka has emerged as the best-performing state in local governance in 2024, overtaking
Kerala, which held the top position in 2015-16.
● The findings were published in a report by the Indian Institute of Public Administration (IIPA).
● Union Minister of State for Panchayati Raj and Fisheries, Animal Husbandry and Dairying, Prof.
SP Singh Baghel, launched the Panchayat Devolution Index 2024, prepared by the Indian
Institute of Public Administration (IIPA).
● The index ranks states and Union Territories (UTs) based on their efforts in strengthening
Panchayati Raj Institutions (PRIs) through the devolution of functions, finances, and
administrative powers.
Key Highlights of the Report
● The ranking was based on six key parameters:
1. Framework
2. Finances
3. Functions
4. Functionaries
5. Capacity Enhancement
6. Accountability
● Uttar Pradesh (UP) made a significant jump from 15th place to 5th place, showing strong
improvements in transparency and anti-corruption measures in Panchayati Raj governance.
● Tripura also showed progress, moving from 13th place to 7th place.
Top-Performing States in Panchayat Governance (2024)

Rank State Key Achievements

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 Important Monthly Current Affairs Capsule – February 2025

Best overall implementation of

1st Karnataka
Panchayat governance

Strong institutional framework and

2nd Kerala
functionary support

High performance in functionaries and

3rd Tamil Nadu
finance management

4th Maharashtra Notable progress in decentralization

Significant improvement in
5th Uttar Pradesh
accountability and infrastructure

Strong revenue collection and financial

7th Tripura
autonomy

Reliance Rises to 2nd Spot in FutureBrand Index 2024

● Reliance Industries Limited (RIL) has made history by securing the 2 position in the FutureBrand
Index 2024, surpassing Apple, Nike, and Microsoft.
● This marks the first time an Indian company has entered the top three of this global ranking,
which evaluates companies based on brand perception, consumer trust, and strategic impact
rather than financial performance.
Key Highlights
● First Indian Company to rank in the Top 3 of FutureBrand Index
● Ranks Above Apple (#3), Microsoft (#4), and Nike (#6)
● Massive Leap from #13 in 2023 to #2 in 2024
● Samsung Takes #1 Spot, Reliance Outperforms Global Giants
● Significant APAC & Middle East Rise, Reducing US Brand Dominance
FutureBrand Index 2024 – Top 10 Rankings
Rank Company Country

1st Samsung South Korea

2nd Reliance India

3rd Apple United States

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 Important Monthly Current Affairs Capsule – February 2025

4th Microsoft United States

5th Walt Disney United States

6th Nike United States

7th Toyota Japan

8th Netflix United States

9th Intel United States

10th Saudi Aramco Saudi Arabia

Global Shift in Brand Rankings
● US Brand Dominance Declining: Only 4 US brands in the top 10 (down from 7 in 2014)
● Rise of APAC & Middle Eastern Brands: Companies from India, South Korea, Japan, and Saudi
Arabia are now global leaders
● India’s Growing Corporate Influence: Reliance’s success signals India’s emergence as a global
business powerhouse
Sector-Wise Performance in 2024
Sector Performance

Finance Strongest – 10/15 brands improved

Healthcare Struggled – 10/15 brands declined

Consumer Staples Balanced – 5 improved, 3 declined

Information Technology Mixed – 9 improved, 11 declined

Energy & Declined – Big drops like Google

Communication (#57) & Meta (#52)

Stagnant – No major gains, Boeing

Industrials
dropped out
Top 10 Wealthiest Women in the World (2025):
● According to the Forbes Billionaire List 2024, women now constitute 3% of the global billionaire
population, with the top 10 wealthiest women collectively amassing over $500 billion.
● From business moguls to industry pioneers, these women are reshaping financial power
dynamics, proving that wealth isn’t just about numbers—it’s about innovation, leadership, and
impact.
Top 10 Richest Women in the World (2025)

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 Important Monthly Current Affairs Capsule – February 2025

Net Worth
Rank Name Source of Wealth
(USD)

1 Alice Walton $112.5 billion Walmart

Francoise Bettencourt Meyers &

2 $74.4 billion L’Oréal
Family

3 Julia Koch & Family $74.2 billion Koch Industries

4 Jacqueline Mars $42.3 billion Mars Inc

Mediterranean Shipping Company

5 Rafaela Aponte-Diamant $39.0 billion
(MSC) Group

6 Abigail Johnson $36.0 billion Fidelity Investments

7 Savitri Jindal & Family $32.3 billion JSW Group

8 MacKenzie Scott $32.3 billion Amazon

9 Miriam Adelson & Family $31.5 billion Las Vegas Sands

10 Marilyn Simons & Family $31.0 billion Hedge Funds

Lancet Study Highlights 30% Decline in India’s Suicide Death Rate
● A recent Lancet study based on the Global Burden of Diseases, Injuries, and Risk Factors Study
(GBD) 2021 reveals a 30% decline in India’s suicide death rate from 1990 to 2021.
● The study also states that, on a global scale, one person dies by suicide every 43 seconds.
● In India, the decline is more pronounced among females, with mental health initiatives and policy
reforms playing a crucial role in this reduction.
Key Findings of The Lancet Study
India-Specific Suicide Rate Decline
● 1990: 18.9 per lakh population
● 2021: 13 per lakh population
● Greater decline observed in females compared to males.
Gender-wise Breakdown
● Females: Declined from 16.8 per lakh (1990) to 10.3 per lakh (2021).
● Males: Declined from 20.9 per lakh (1990) to 15.7 per lakh (2021).
Most Vulnerable Section
● Educated women (2020) recorded the highest suicide death rates.
● Family problems identified as the most common contributing factor.

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 Important Monthly Current Affairs Capsule – February 2025

Major Initiatives Behind the Decline

1. Decriminalization of Suicide
● Mental Healthcare Act, 2017 decriminalized suicide, ensuring treatment instead of punishment.
● Bharatiya Nyaya Sanhita (BNS) removed any provisions similar to Section 309 of the IPC, which
previously criminalized suicide attempts.
2. National Suicide Prevention Strategy (2022)
● Aims to reduce suicide mortality by 10% by 2030.
3. WHO’s Mental Health Action Plan (2013–2030)
● Recognizes mental health as a key factor in achieving overall well-being.
4. Other Key Mental Health Initiatives
● National Mental Health Policy (2014): Focuses on mental well-being and suicide prevention.
● Promotes mental health awareness and access to counseling.
5. Toll-Free Mental Health Helplines
● Manodarpan: Launched by the Ministry of Education for students’ mental health.
● KIRAN: A national helpline offering mental health support.

ACQUISITION AND MERGERS

TVS Holdings completes 80.74% stake acquisition of Home Credit for ₹554 crore
● TVS Holdings completes acquisition of 80.74% equity stake in Home Credit India for ₹554 crore.
● Remaining 19.26% acquired by Premji Invest and other associates of TVS Holdings.
● Acquisition funded through proceeds from the sale of real estate assets and borrowings from
capital markets.
● Home Credit India, an NBFC, was established in 1997 in the Czech Republic and entered India
in 2012.
● Serves 1.6 crore customers, with ₹5,535 crore AUM (March 31, 2024), operating in 625 cities
with 50,000+ PoS.

Competition Commission of India Approves POSCO India’s Strategic Investment in Pune Processing
Center
● The Competition Commission of India (CCI) has approved the acquisition of shareholding in
POSCO-India Pune Processing Center by POSCO India Processing Center, a subsidiary of POSCO
Holdings.

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 Important Monthly Current Affairs Capsule – February 2025

● The acquisition involves POSCO India Processing Center acquiring the entire shareholding of LX
International Corporation, the current shareholder of POSCO-India Pune Processing Center.
● POSCO India Processing Center specializes in processing and distributing a wide range of
value-added finished steel products, including hot-rolled and cold-rolled products, galvanized steel, and
electrical steel.
About CCI:
● The Competition Commission of India (CCI) is a statutory body within the Ministry of Corporate
Affairs and is responsible for enforcing the Competition Act of 2002.
● Founded: October 14, 2003
● Headquarters: New Delhi, India
● Chairperson: Ravneet Kaur

Reserve Bank of India Greenlights Temasek’s Zulia Investments for 7% Stake in AU Small Finance
Bank
• AU Small Finance Bank (AU SFB) announced on February 13, 2025, that the Reserve Bank of
India (RBI) has approved Temasek’s Zulia Investments to acquire up to 7% stake in the bank.
• The approval allows Zulia Investments Pte. Ltd., an indirect wholly owned subsidiary of Temasek
Holdings (Private) Limited, to acquire the stake within one year from the RBI approval date.
• If the acquisition is not completed within this period, the approval will be cancelled.
About AU Small Finance Bank:
• Founded: 1996 (as AU Financiers), became a small finance bank in 2017.
• Headquarters: Jaipur, Rajasthan, India.
• Chairman: Raj Vikash Verma
• MD & CEO: Sanjay Agarwal

JioStar launches new OTT player JioHotstar, merging JioCinema and Disney Hotstar into one platform
● On February 14, 2025, JioCinema and Disney+ Hotstar officially merged to form JioHotstar,
creating one of India’s largest streaming platforms.
Key Highlights:
● Content Library: JioHotstar offers nearly 300,000 hours of entertainment, combining the
extensive libraries of both JioCinema and Disney+ Hotstar.
● Subscription Plans: The platform has introduced new subscription plans to cater to diverse
audience needs:

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o Mobile Plan: ₹149 for 3 months or ₹499 per year; allows streaming in HD (720p) on one
mobile device.
o Super Plan: ₹299 for 3 months or ₹899 per year; supports Full HD (1080p) streaming on
two devices.
o Premium Plan: ₹299 per month (web purchase only), ₹499 for 3 months, or ₹1,499 per
year; offers 4K streaming on up to four devices with an ad-free experience, except for live
content.

360 ONE Asset to acquire 15% stake in Bharti AXA Life Insurance
● 360 ONE Asset, formerly known as IIFL Asset Management, is set to acquire a 15% stake
in Bharti AXA Life Insurance.
● This strategic investment aims to unlock new avenues for innovation and expand Bharti AXA’s
footprint in India’s competitive life insurance sector.
● The deal is currently pending regulatory approvals.
● Bharti AXA Life Insurance, now a wholly-owned subsidiary of the Bharti Group, plans to utilize
this investment to accelerate its efforts in enhancing product offerings and catering to evolving
consumer needs.
● This move comes after Bharti Life Ventures Private Limited acquired AXA’s 49% stake in March
2024, gaining full ownership of the company.

Competition Commission of India (CCI) approves the acquisition of certain interest in Blackwater Coal
Mine by NS Blackwater Pty Limited and JFE Steel Australia (BW) Pty Ltd
● The Competition Commission of India (CCI) has approved the acquisition of a stake
in Blackwater Coal Mine by NS Blackwater Pty Limited and JFE Steel Australia (BW) Pty Ltd.
● Under the Proposed Combination, NS Blackwater Pty Limited will acquire a 20% interest, while
JFE Steel Australia (BW) Pty Ltd will acquire a 10% interest in Blackwater Coal Mine (BW Coal
Mine).
Key Entities in the Acquisition:
● NS Blackwater Pty Limited: A newly incorporated special purpose vehicle, ultimately owned by
Nippon Steel Corporation.
● JFE Steel BW Pty Ltd: Another newly incorporated special purpose vehicle, ultimately owned by
JFE Holdings, Inc.
About CCI:

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● The Competition Commission of India (CCI) is a statutory body within the Ministry of Corporate
Affairs and is responsible for enforcing the Competition Act of 2002.
● Founded: October 14, 2003
● Headquarters: New Delhi, India
● Chairperson: Ravneet Kaur

Competition Commission of India approves amalgamations of Chaitanya India Fin Credit Private Limited
and Svatantra Holdings Private Limited into Svatantra Microfin Private Limited
● The Competition Commission of India (CCI) has approved the amalgamation of Chaitanya India
Fin Credit Private Limited (CIFCPL) and Svatantra Holdings Private Limited (SHPL) into
Svatantra Microfin Private Limited (SMPL).
● The Scheme of Amalgamation has been approved by the board of directors of SHPL, CIFCPL,
and SMPL.
● As a result of the merger, Svatantra Micro Housing Finance Corporation Limited (SMHFCL) will
become a wholly owned subsidiary of SMPL.

ONGC NTPC Green Acquires Ayana Renewable Power in $2.3 Billion Deal to Expand Clean Energy
Portfolio
● ONGC NTPC Green Private Limited (ONGPL) acquires Ayana Renewable Power for INR 195B
($2.3B), marking its first strategic acquisition.
● Ayana’s 4.1 GW operational and under-construction portfolio accelerates ONGPL’s renewable
energy ambitions.
● The deal aligns with India’s goal of 500 GW renewable capacity by 2030 and Net-Zero emissions
by 2070.
Flipkart-backed super.money acquires checkout financing platform BharatX
● Super.money, backed by Flipkart, has acquired BharatX, a buy-now-pay-later (BNPL) fintech
startup.
● The acquisition is an all-cash transaction, but financial terms have not been disclosed.
● BharatX’s core team will join super.money to enhance the app’s credit offerings.
● They will focus on developing credit solutions for the Unified Payments Interface (UPI).
About BharatX:
● Founded in 2019 by Mehul Nath Jindal, Eeshan Sharma, and Shyam Murugan.
● Specializes in embedded credit solutions for consumer platforms.

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About Super.money:
● Launched in beta mode in June 2023 by Prakash Sikaria.
● Offers superUPI, superCards, superCash, and superDeposits.
Competition Commission of India approves amalgamation of Chaitanya India Fin Credit and Svatantra
Holdings into Svatantra Microfin
● The Competition Commission of India (CCI) has approved the amalgamation involving four
entities within the Svatantra Group.
● The proposed merger includes Svatantra Holdings Pvt Ltd (SHPL), Svatantra Microfin Pvt Ltd
(SMPL), Chaitanya India Fin Credit Pvt Ltd (CIFCPL), and Svatantra Micro Housing Finance
Corporation Limited (SMHFCL).
● SHPL, incorporated in 2018, is a core investment company focused on equity, preference shares,
and securities.
● SMPL and CIFCPL are Non-Banking Financial Companies-Micro Finance Institutions (NBFC-
MFI) that provide microfinance and personal loans to low-income households in rural and semi-
urban areas.
● SMHFCL is a Housing Finance Company (NBFC-HFC) offering secured housing loans, loans
against property, and financing for construction projects.
About CCI:
● The Competition Commission of India (CCI) is a statutory body within the Ministry of Corporate
Affairsand is responsible for enforcing the Competition Act of 2002.
● Founded: October 14, 2003
● Headquarters: New Delhi, India
● Chairperson: Ravneet Kaur
InCred Finance Acquires TruCap’s Gold Loan Business
● InCred Finance has acquired TruCap Finance’s gold loan business, marking its entry into the
lucrative gold loan market.
● In a stock exchange filing, TruCap Finance stated that the total value of the deal is approximately
₹330 crore, subject to certain adjustments.
● The transaction is expected to be finalized by April 30.

DEFENCE NEWS
Defence Research and Development Organisation, IIT Hyderabad unveil India’s largest metal 3D
printing machine for rocket components

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 Important Monthly Current Affairs Capsule – February 2025

● A significant breakthrough in Large Area Additive Manufacturing (LAAM) has been achieved at
the DRDO-Industry-Academia Centre of Excellence (DIA-CoE) at IIT Hyderabad.
● The project is a collaboration between IIT Hyderabad, DRDO’s Defence Research &
Development Laboratory (DRDL), and industry partners.
● The LAAM system uses Powder-based Directed Energy Deposition (DED) technology for
manufacturing rocket components.
About DRDO:
● Founded: 1958
● Headquarters: New Delhi, India
● Parent Ministry: Ministry of Defence, Government of India
● Chairman: Dr. Samir V. Kamat

Maldives host the 13th edition of the ‘Ekuverin’ military exercise

● The 13th edition of the joint India-Maldives military exercise ‘Ekuverin’ is being hosted by
Maldives from 2-15 February 2025.
● The inaugural ceremony was held at the Official Composite Training Center of the Maldives
National Defence Forces (MNDF) in Maafilaafushi, Maldives.
● Major General Ibrahim Hilmy (Chief of MNDF) and G Balasubramanian (Indian High
Commissioner) were present at the inauguration.
About Ministry of Defence:
● Cabinet Minister: Rajnath Singh
● Minister of State (MoS): Ajay Bhatt

Indian Navy concludes joint manship drills under TROPEX-25

● The Theatre Level Operational Readiness Exercise (TROPEX-25) was held off India’s western
coast on January 30-31, 2025.
● Senior military leadership participated, including Lieutenant General Johnson P Mathew (Chief of
Integrated Defence Staff to the Chairman Chiefs of Staff Committee) and vice chiefs from the Army,
Navy, and Air Force.
● The exercise involved dynamic naval operations with Indian Navy ships, submarines, and
aircraft.
About Indian Navy:
● Headquarters: New Delhi, India

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 Important Monthly Current Affairs Capsule – February 2025

● Established: 26 January 1950

● Motto: "Satyamev Jayate" (Truth Alone Triumphs)
● Chief of Naval Staff: Admiral Dinesh Kumar Tripathi

Iran Unveils New Ballistic Missile, Tests Long-Range Cruise Missile

● Iran unveiled a new long-range ballistic missile and tested an advanced anti-ship cruise missile,
expanding its military capabilities amid ongoing tensions with the West.
● Iranian President Masoud Pezeshkian attended a ceremony in Tehran to introduce the Etemad,
a ballistic missile with a range of 1,700 kilometers (1,060 miles).
● The missile’s range places much of the Middle East, including Israel, within striking distance.
● The event coincided with Iran’s National Aerospace Day and precedes the 46th anniversary of
the 1979 Islamic Revolution.
About Iran:
• Capital: Tehran
• Currency: Iranian Rial (IRR)
• President: Masoud Pezeshkian

Japan launches navigation satellite on new flagship rocket for improved positioning system
● The H3 rocket, carrying the Michibiki 6 satellite, successfully lifted off from the Tanegashima
Space Centre on a southwestern Japanese island.
● The satellite separated from the rocket as planned about 29 minutes after lift-off, according
to Makoto Arita, H3 project manager for the Japan Aerospace Exploration Agency (JAXA).
● Officials stated the satellite is expected to reach its targeted geospatial orbit in about two weeks.
About Japan:
• Capital: Tokyo
• Currency: Japanese Yen (JPY)
• Prime Minister: Shigeru Ishiba

Defence Research & Development Organisation Successfully Conducts Flight Trials of Very Short-
Range Air Defence System
● The Defence Research & Development Organisation (DRDO) successfully conducted three
consecutive flight-trials of the Very Short-Range Air Defence System (VSHORADS) from Chandipur,
Odisha.

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 Important Monthly Current Affairs Capsule – February 2025

● The tests were conducted against high-speed, low-altitude targets mimicking low-flying
drones with reduced thermal signatures.
● In all tests, the missiles intercepted and destroyed the targets with pin-point accuracy.
About DRDO:
● Founded: 1958
● Headquarters: New Delhi, India
● Parent Ministry: Ministry of Defence, Government of India
● Chairman: Dr. Samir V. Kamat
About Ministry of Defence:
● Cabinet Minister: Rajnath Singh
● Minister of State (MoS): Ajay Bhatt

Indian Army's Firepower Gets a Boost with ₹10,147 Crore Munitions Deal for Pinaka Multiple Launch
Rocket System (MLRS)
• The Defence Ministry has signed two contracts worth ₹10,147 crore for procuring ammunition to
enhance the army’s firepower.
• The deals, aimed at boosting self-reliance in defence manufacturing, were signed with:
o Economic Explosives Limited, Nagpur
o Munitions India Limited, Pune
Budget Allocation:
• The Union Budget for 2024-25 allocated ₹6.81 lakh crore for defence, including ₹1.8 lakh crore
for military modernisation.
• 75% of the modernisation outlay is earmarked for domestic procurement, reflecting a strong push
for self-reliance in defence manufacturing.
About Ministry of Defence:
• Cabinet Minister: Rajnath Singh
• Minister of State (MoS): Ajay Bhatt

15th edition of Aero India 2025 gets off to a spectacular start in Bengaluru at Yelahanka Air Force
Station
• Union Defence Minister Rajnath Singh inaugurated the Aero India 2025, Asia's top aerospace
exhibition in Bengaluru.

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 Important Monthly Current Affairs Capsule – February 2025

• The 15th edition of Asia's top aerospace exhibition, Aero India 2025 commenced at Yelahanka
Air Force Station, Bengaluru.
• The 15th Aero India will be held between 10th and 14th February, 2025.
About Ministry of Defence:
• Cabinet Minister: Rajnath Singh
• Minister of State (MoS): Ajay Bhatt

Indian Navy’s Next-Generation Offshore Patrol Vessels To Get Advanced EON-51 SystemsAs Ministry
of Defence Inks Rs 642 Crore Deal With Bharat Electronics Limited
• The Ministry of Defence (MoD) has signed a Rs 642.17 crore contract with Bharat Electronics
Limited (BEL) for the procurement of 28 EON-51 Electro Optical Fire Control Systems (EOFCS).
• These systems will be integrated into 11 Next-Generation Offshore Patrol Vessels (NGOPVs)
and three Cadet Training Ships, significantly enhancing their operational capabilities.

Major India-Russia Defense Deal Since Ukraine War: New Delhi Likely To Acquire Klub Cruise Missiles
From Moscow
• India has recently finalized an agreement with Russia to acquire anti-ship cruise missiles.
• This move aims to strengthen the operational capabilities of the Indian Navy’s submarine fleet.
• However, sources indicate that the deal involves the Klub-S missile system, part of the Kalibr
missile family.

Adani Defence & Aerospace and Defence Research and Development Organisation (DRDO) Unveil
India's Vehicle-Mounted Counter-Drone System at Aero India 2025
• India’s Vehicle-Mounted Counter-Drone System was launched at Aero India 2025 under a public-
private partnership, developed under DRDO’s Transfer of Technology (ToT) framework.
• The system enhances India’s self-reliance in defence and strengthens protection against
asymmetric drone threats, reinforcing India's position as a global defence leader.
• Adani Defence & Aerospace, in collaboration with Defence Research and Development
Organisation (DRDO) unveiled the system in Bengaluru.
About DRDO:
• Founded: 1958
• Headquarters: New Delhi, India
• Parent Ministry: Ministry of Defence, Government of India

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 Important Monthly Current Affairs Capsule – February 2025

• Chairman: Dr. Samir V. Kamat

India, Japan to conduct 6th edition of joint military exercise Dharma Guardian from Feb 15 to March 9,
2025
● The 6th edition of Dharma Guardian will be held at Mount Fuji, Japan from February 25 to March
9, 2025.
● The 5th edition of Joint Military Exercise ‘DHARMA GUARDIAN’ between the Indian Army and
the Japan Ground Self Defence Force commenced at Mahajan Field Firing Ranges in Rajasthan.
● The Exercise is scheduled to be conducted from 25th February to 9th March 2024.
● The 1st edition of the Dharma Guardian exercise was held in 2018 at Counter Insurgency
Warfare School, Vairengte (Mizoram), India from 01 November to 14 November 2018.
● India and Japan prioritize other joint military exercises, such as the Malabar naval
exercise, Exercise Shinnyu Maitri, counter-terrorism drills between the Japan Ground Self-
Defense Force (JGSDF) and the Indian Army, as well as joint air exercises with JASDF and
Indian Air Force, and naval exercises between the Indian Navy and Japanese Maritime Self-
Defense Force (JMSDF).
India, Malaysia expand defence ties, advance Su-30 upkeep cooperation
● India is strengthening defence ties with Malaysia, focusing on maritime security, the defence
industry, and cooperation in multilateral forums.
● The 13th Malaysia-India Defence Cooperation Committee (MIDCOM) meeting took place
on February 19, 2025, in Kuala Lumpur, discussing regional and global issues, including cyber
security and artificial intelligence.
● India and Malaysia exchanged the finalised Terms of Reference (ToR) for setting up a Su-30
forum to enhance cooperation between the Indian Air Force (IAF) and the Royal Malaysian Air
Force (RMAF) in Su-30 maintenance.
● The Su-30 forum will foster collaboration between the IAF and RMAF in training, maintenance,
technical support, and safety-related issues.
Defence Research and Development Organisation, MIDHANI Ink Pact for High-Performance
Aerospace-Grade Steel
● The Aeronautical Development Agency (ADA), a premier lab under the Defence Research and
Development Organisation (DRDO), has signed an MoU with MIDHANI for the indigenous
development of high-strength, high-toughness special-grade steel “MDN100” for aeronautical
applications, including its use in the 5th generation Advanced Medium Combat Aircraft (AMCA).

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 Important Monthly Current Affairs Capsule – February 2025

● The steel, known for its good forgeability, will be utilized in highly stressed aircraft parts,
offering weight-saving benefits.
● The MoU was signed during Aero India 2025, reinforcing the vision of Atmanirbhar Bharat.
● MIDHANI, a Defence PSU, has been supporting DRDO and Hindustan Aeronautics Ltd (HAL) in
supplying critical materials for aeronautical purposes, including SuperNi 41 plates, a nickel-
chromium-based superalloy capable of withstanding extreme temperatures in aero engines.
● ADA, the nodal agency for combat aircraft development in India, is actively engaged in key
programmes, including LCA Mk2, AMCA, and the Twin Engine Deck-Based Fighter (TEDBF).
About DRDO:
● Founded: 1958
● Headquarters: New Delhi, India
● Parent Ministry: Ministry of Defence, Government of India
● Chairman: Dr. Samir V. Kamat
Defence ministry inks ₹1,220 crore contract with Bharat Electronics Limited for Coast Guard radios
● The Ministry of Defence signed a ₹1,220.12 crore contract with Bharat Electronics Limited
(BEL) for 149 Software Defined Radios for the Indian Coast Guard.
● The contract falls under the ‘Buy (Indian-IDDM)’ category, supporting domestic defence
manufacturing.
● The radios will enhance secure data sharing, high-speed voice communication, and situational
awareness.
● The equipment will strengthen the Coast Guard’s maritime law enforcement, search and rescue,
fisheries protection, and marine environment protection
● These radios will improve interoperability for joint operations with the Indian Navy.
● The deal aligns with the ‘Aatmanirbhar Bharat’ initiative, promoting indigenous military-grade
communication systems and creating employment opportunities.
About Ministry of Defence:
● Cabinet Minister: Rajnath Singh
● Minister of State (MoS): Ajay Bhatt
Defence Ministry inks ₹697 crore contracts with Action Construction Equipment Limited (ACE), JCB
India for military equipment
● The Ministry of Defence signed contracts worth ₹697.35 crore with ACE Limited and JCB India
Limited for procuring 1,868 Rough Terrain Fork Lift Trucks (RTFLT) for the Indian Army, Indian
Air Force, and Indian Navy.

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 Important Monthly Current Affairs Capsule – February 2025

● The contracts were signed in the presence of Defence Secretary R K Singh.

● RTFLT is a critical equipment that assists in combat and logistics support by reducing manual
handling of stores and enhancing operational effectiveness.
● The procurement falls under the ‘Buy (Indian)’ category, boosting domestic defence
manufacturing and generating employment, benefiting MSMEs.
● The Ministry also signed a ₹1,220.12 crore contract with Bharat Electronics Limited (BEL) for
procuring 149 Software Defined Radios (SDRs) for the Indian Coast Guard.
Indian Army Boosts Air Defense With Modernization Efforts
● With advanced systems like the AK-203 rifle and QRSAM, India aims to meet modern warfare
● The Indian Army is undergoing significant modernization, enhancing its air defense
capabilities by replacing outdated weapon systems with state-of-the-art alternatives and
addressing new-age threats, including drones.
Indian Coast Guard conducts successful ‘Sagar Kavach’ coastal security exercise
● The two-day coastal security exercise ‘Sagar Kavach’ in West Bengal concluded on February 22,
2025 coordinated by the Coast Guard Region North East with the State Coastal Security
Operation Centre (SCSOC) serving as the nerve center.
● The exercise validated the coastal security SOPs through various drills along the 158 km
coastline, simulating scenarios such as hijacking of fishing boats, smuggling of contraband, IED
planting, and attacks on vital coastal assets.
● Active patrolling was conducted by Indian Coast Guard, Navy, West Bengal Police, CISF, BSF,
Customs, district police, and the Forest Department, while fishermen’s watch groups were
activated as the ‘Eyes and Ears’ of security forces.
Defence Ministry forms high-level panel to boost indigenous light fighter jet production
● The Ministry of Defence has formed a high-level committee to address delays in Tejas Mk-1A
deliveries to the Indian Air Force (IAF).
● The five-member committee is led by Defence Secretary Rajesh Kumar Singh and aims
to identify causes of delays and suggest measures for faster induction.
● Air Chief Marshal AP Singh criticised Hindustan Aeronautics Limited (HAL) at Aero India 2025,
stating he was “not confident” in HAL’s ability to meet deadlines.
● He strongly objected to HAL’s casual approach, saying “Maza nahi aa raha hai” (I am not
enjoying this).
● HAL Chairman D K Sunil responded, acknowledging the delays and assuring that technical
challenges are being resolved to improve production efficiency.

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 Important Monthly Current Affairs Capsule – February 2025

● Tejas Mk-1A is a 5-generation, multi-role, all-weather fighter jet, developed under “Atma Nirbhar
Bharat” for IAF modernisation.
● IAF has ordered 83 Tejas Mk-1A jets, with plans to operate around 350 Tejas variants in the next
decade, including Mk-1, Mk-1A, and Mk-2.
● The committee has a one-month deadline to submit a report on:
o Identifying bottlenecks in production and induction.
o Suggesting solutions for faster delivery.
o Exploring private sector participation in aircraft manufacturing.
Defence Research & Development Organisation (DRDO) and the Indian Navy successfully conducts
flight trials of the first-of-its-kind Naval Anti-Ship Missile (NASM-SR)
● The Defence Research & Development Organisation (DRDO) and the Indian Navy successfully
conducted flight trials of the first-of-its-kind Naval Anti-Ship Missile (NASM-SR) on February 25,
2025, at the Integrated Test Range (ITR), Chandipur, Odisha.
● The missile, launched from an Indian Naval Seaking Helicopter, demonstrated its capability
against ship targets.
● Missile launched in Bearing-only Lock-on after launch mode.
● Initially locked onto a large target within the search zone.
About DRDO:
● Founded: 1958
● Headquarters: New Delhi, India
● Parent Ministry: Ministry of Defence, Government of India
● Chairman: Dr. Samir V. Kamat

SCIENCE & TECHNOLOGY

First Indian on Private International Space Station Mission: Indian Air Force Group Captain Shubhanshu
Shukla Makes History
● Indian Air Force Group Captain Shubhanshu Shukla is set to become the 1st Indian astronaut to
travel to the International Space Station (ISS) on a private mission in 2025.
● The mission is led by NASA astronaut Peggy Whitson, with Shubhanshu Shukla serving as the
mission pilot.
● He is also the astronaut-designate for India’s human spaceflight program, Gaganyaan.
IIT Madras Launches Bharat Cancer Genome Atlas for Advanced Cancer Research

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 Important Monthly Current Affairs Capsule – February 2025

● IIT Madras launched India’s first cancer genome database, Bharat Cancer Genome Atlas
(BCGA), to enhance cancer research and diagnostics.
● Addresses the underrepresentation of Indian genetic data in global cancer genome studies,
impacting diagnostic kits and targeted therapies.
● Since 2020, IIT Madras has sequenced 960 whole exome analyses from 480 breast cancer
tissue samples across India.
● BCGA provides genetic insights into Indian breast cancer cases, aiding early diagnostics,
disease progression tracking, and treatment improvements.

MediBuddy, ELECOM to Launch IoT-Based Health Devices in India

● MediBuddy partnered with Japanese electronics company ELECOM to introduce IoT-enabled
health monitoring devices in India.
● Aims to expand digital healthcare access and address lifestyle diseases, which cause 6 million
deaths annually in India.
● Initial rollout includes smart health devices like body composition scales and blood pressure
monitors, integrated with MediBuddy’s platform for real-time health tracking.

IIT Guwahati Introduces Multi-Stage Clinical Trial Method to Enhance Personalised Medical Care
● IIT Guwahati researchers, in collaboration with global institutions, developed a multi-stage clinical
trial method to enhance personalized medical care.
● The study involved Duke-NUS Medical School, the National University of Singapore, and the
University of Michigan, USA.
● Focuses on Dynamic Treatment Regimes (DTRs), developed through Sequential Multiple
Assignment Randomised Trials (SMARTs).

WAVES 2025 launches TruthTell Hackathon to combat misinformation in live broadcasting

● TruthTell Hackathon launched by the Ministry of Information & Broadcasting in collaboration with
the India Cellular & Electronics Association (ICEA) as part of the World Audio Visual & Entertainment
Summit (WAVES) 2025.
● The hackathon is a part of the Season 1 of the Create in India Challenge (CIC) and focuses on
developing AI-powered solutions to combat misinformation in live broadcasting.
● The competition aims to create tools for real-time misinformation detection and fact verification in
live broadcasts.

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 Important Monthly Current Affairs Capsule – February 2025

About Ministry of Information and Broadcasting:

● Cabinet Minister: Ashwini Vaishnaw
● Minister of State (MoS): L. Murugan

Ola founder Bhavish Aggarwal Announces ₹2,000 Crore Investment in Krutrim, Plans ₹10,000 Crore
Commitment by Next Year
● Ola founder Bhavish Aggarwal announced a ₹2,000 crore investment in Krutrim, with a
commitment of ₹10,000 crore by next year.
● The firm has raised nearly $280 million, including $50 million from Matrix Partners India in early
2024.
● Open-Source Initiative: Krutrim has released its AI models to the open-source community,
publishing multiple technical reports. This follows DeepSeek’s recent decision to open-source its own
Generative AI (GenAI) model.
About Ola:
● Founded: 2010
● CEO: Bhavish Aggarwal
● Headquarters: Bengaluru, Karnataka

According to Science and Technology Minister Jitendra Singh, India will launch the Chandrayaan-4
mission in 2027 to bring back moon rock samples to Earth.
• India will launch the Chandrayaan-4 mission in 2027 to bring back moon rock samples to Earth,
according to Science and Technology Minister Jitendra Singh.
• The mission will involve two launches of the LVM-3 rocket to carry and assemble five
components in orbit.
About Ministry of Science and Technology:
• Cabinet Minister: Dr. Jitendra Singh

Hindustan Jet Trainer-36 Gets a New Identity as ‘Yashas’ After Performance Boost
• Hindustan Aeronautics Limited (HAL) has officially renamed its flagship jet training aircraft, the
Hindustan Jet Trainer HJT-36, as ‘Yashas’ following extensive modifications aimed at enhancing
its performance and operational efficiency.

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 Important Monthly Current Affairs Capsule – February 2025

• The new name was unveiled by the Ministry of Defence's Secretary (Defence Production)
Sanjeev Kumar in the presence of HAL Chairman and Managing Director (CMD) Dr DK Sunil and
senior officials at Aero India 2025.
• As part of its preparation for induction, ‘Yashas’ has been upgraded with state-of-the-art avionics
and a modernized cockpit, improving training effectiveness and operational efficiency.

Indian Institute of Technology (IIT) Roorkee Team Finds Superbug’s Defense Mechanism, To Boost
New Treatments
• Scientists at the Indian Institute of Technology Roorkee (IIT Roorkee) have made a
groundbreaking discovery about Acinetobacter baumannii, a highly drug-resistant superbug that
causes life-threatening infections.
• Research published in the journal mBio uncovers a key regulatory mechanism in Acinetobacter
baumannii, a highly drug-resistant superbug.
• Healthcare Threat: This pathogen causes severe hospital-acquired infections such as
pneumonia, bloodstream infections, and urinary tract infections.
• Type 6 Secretion System (T6SS): The superbug uses T6SS as a bacterial "weapon" to attack
competing microbes, but its role in antibiotic resistance was unclear.

Indian Institute of Technology Madras & Indian Space Research Organisation (ISRO) jointly developed
and successfully booted an Atmanirbhar aerospace quality SHAKTI-based Semiconductor Chip
• Indian Institute of Technology Madras (IIT Madras) and Indian Space Research Organisation
have successfully developed and booted an Atmanirbhar aerospace-quality SHAKTI-based
Semiconductor Chip.
• The SHAKTI microprocessor project is led by Prof. V. Kamakoti at the Prathap Subrahmanyam
Centre for Digital Intelligence and Secure Hardware Architecture (PSCDISHA), IIT Madras.
• The SHAKTI systems are based on RISC-V, an open-source Instruction Set Architecture (ISA)
for custom processor design.
About ISRO:
• Established: 1958
• Headquarters: New Delhi, India
• Chairman: V. Narayanan

Russia offers technology for India’s Advanced Medium Combat Aircraft and Su-57E production

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 Important Monthly Current Affairs Capsule – February 2025

• Russia has extended an important offer to India regarding advanced fighter jet production,
highlighting a new phase of defence collaboration between the two nations.
• Russia’s state-owned defence export company, Rosoboronexport, has proposed the localized
production of the Su-57E, the export version of Russia’s 5th-generation fighter jet.
• The offer also includes valuable technological assistance for indigenous Advanced Medium
Combat Aircraft (AMCA) project.

Google renames ‘Gulf of Mexico’ as ‘Gulf of America’ after Trump’s order

● Tech giant Google has officially renamed the Gulf of Mexico to the ‘Gulf of America’ on Google
Maps for American users.
● For Mexican users, it will still be displayed as the Gulf of Mexico.
● For the rest of the world, both names will appear on Google Maps.
Swedish defence and security company, Saab and Indian defence manufacturer, Hindustan
Aeronautics Limited sign agreement for manufacture of laser warning systems in India
● Saab and Hindustan Aeronautics Limited (HAL) have signed a Memorandum of Understanding
(MoU) for the local manufacture of Saab’s LWS-310 laser warning system in India.
● The agreement includes the Transfer of Technology (ToT), enabling HAL to set up
necessary infrastructure, conduct training programs, and gain technical expertise from Saab for
long-term support of the system.
● The collaboration strengthens India’s defence self-reliance under the ‘Make in India’ initiative and
enhances HAL’s capability to manufacture and support the LWS-310 system.
Tata Elxsi partners with Garuda Aerospace to set up drone design, certification centre
● Tata Elxsi, a global leader in design and technology services, and Garuda Aerospace, a
pioneering UAV (Unmanned Aerial Vehicle) manufacturer, have signed a Memorandum of
Understanding (MoU) at Aero India 2025, Asia’s biggest Airshow, held from February 10th–14th.
● This partnership establishes a dedicated UAV design, engineering, and certification center to
develop indigenous drone technologies for Indian defence applications, agriculture, and smart
cities, supporting the ‘Make in India’
Indian Institute of Technology Kanpur’s Solar Dehydration Technology Aims to Cut Post-Harvest Losses,
Boost Farmer Income
● Indian Institute of Technology Kanpur has developed a solar dehydration technique to help
farmers preserve their produce and reduce post-harvest losses.
● This technology uses solar energy to dry fruits and vegetables, extending their shelf life.

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 Important Monthly Current Affairs Capsule – February 2025

● The Ranjit Singh Rozi Shiksha Kendra at IIT Kanpur introduced the technology to provide
farmers with an alternative to distress sales by enabling them to store their produce longer and
sell when market demand rises.
● To demonstrate the practical use of this technology, IIT Kanpur conducted a training session for
around 30 farmers from the Hariya Nature Farming Producer Company and Lavkush Farmer
Producer Organization (FPO) under the Namami Gange project.
Stunning ‘Einstein Ring’ Discovered by European Telescope
● Scientists using the Euclid space telescope discovered a bright ring of light circling a nearby
galaxy.
● This is an Einstein ring, a rare phenomenon that occurs when light from a distant galaxy bends
around a closer galaxy.
● The ring encircles a galaxy located 590 million light-years away from Earth.
● The discovery was made in the NGC 6505 galaxy, situated in the Draco constellation.
● Einstein rings are formed when light from a more distant galaxy bends due to the gravitational
influence of a closer galaxy, creating a circular halo of light.
● This phenomenon is known as gravitational lensing, a concept first predicted by physicist Albert
Einstein.
Next Generation BrahMos missile to make first flight run in 2026
● The BrahMos NG (Next Generation) missile system is undergoing significant advancements, with
its production expected to start around 2027-2028.
● The BrahMos NG is designed to be smaller, lighter, and more compact than its predecessor,
making it adaptable for smaller delivery systems like the Sukhoi-30MKI fighter and Tejas aircraft.
● It weighs 1.6 tonnes (down from 3 tonnes) and is 6 meters long (previously 9 meters).
● The missile maintains the same range of 290 km and speed of 3.5 Mach.
● It also features a reduced radar cross-section and a homemade seeker with AESA radar for
better precision.
● Indonesia is in advanced talks to secure a $450 million deal for the BrahMos NG, potentially
becoming the second foreign buyer after the Philippines.
China’s space station to welcome more commercial spaceflights in 2025 including cargo crafts and
launch vehicles
● China’s aerospace industry achieved a record-breaking 68 rocket launches in 2024, with even
greater plans for 2025, including the launch of several new commercial spacecraft.
● Among these are the Haoloong space cargo shuttle and Qingzhou cargo spacecraft, which will

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 Important Monthly Current Affairs Capsule – February 2025

be launched aboard the Zhuque-3 and Lijian-2 rockets, respectively.

● This year, China’s Tiangong space station will welcome two more crews from the Shenzhou-
20 and Shenzhou-21 missions, as well as the Tianzhou-9 cargo spacecraft.
● These crewed missions may involve China’s fourth batch of taikonauts, including payload
specialists from Hong Kong and Macau.
● Notably, the Zhuque-3 rocket, a next-generation reusable rocket, will make its maiden flight.
Indian Space Research Organization Develops World’s Largest Vertical Propellant Mixer
● In a major boost to India’s self-reliance in space technology, Indian scientists and engineers have
successfully developed the world’s largest 10-tonne Vertical Planetary Mixer for processing solid
propellants, a critical component in rocket motor production.
● The milestone marks a significant achievement under the ‘Atmanirbhar Bharat in Space’
● The mixer was designed and developed by Satish Dhawan Space Centre SHAR (SDSC SHAR),
ISRO, in collaboration with Central Manufacturing Technology Institute (CMTI), Bangalore, a
premier research and development organisation under the Ministry of Heavy Industries.
● The system has completed factory-level acceptance tests and was officially handed over to
SDSC SHAR’s director by CMTI’s director in the presence of Secretary, DoS and ISRO
Chairman in
West Bengal’s Darjeeling Zoo Gets Country’s First Bio-Banking And Animal Museum
● The Padmaja Naidu Himalayan Zoological Park, West Bengal (Darjeeling Zoo) setting up the
country’s first bio-banking facility and animal museum is a huge step forward in preserving
endangered species and studying biodiversity.
Key Highlights:
● First-of-its-kind in India – The Darjeeling Zoo is the first zoo in India to establish a biobank and
museum for endangered species.
● Preservation of Biological Samples – The facility will store DNA, genome, and gametes of
endangered species like the Red Panda, Snow Leopard, and Siberian Tiger.
● Long-term Storage – Samples can be stored for 40 to 45 years, aiding future research.
● Climate Change & Genetic Research – Scientists can study mutation effects, climate impact, and
genetic diversity using the stored samples.
● Collaboration with Authorities – The project follows international guidelines and is supported by
the Central Forest Authority and State Forest Departments.
● Public Museum – The animal museum inside the zoo will showcase skeletons and body parts of
various species for education and research.

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 Important Monthly Current Affairs Capsule – February 2025

About Biobank:
● A biobank is a collection of biological samples that are stored and used for research.
● Biobanks are important for medical research and can help develop new treatments.
About West Bengal:
● Chief Minister: Mamata Banerjee
● Governor: C. V. Ananda Bose
● Capital: Kolkata
● National Parks: Sundarbans National Park, Jaldapara National Park, Buxa National Park,
Gorumara National Park, Neora Valley National Park
● Wildlife Sanctuaries: Sajnekhali Wildlife Sanctuary, Bibhutibhushan Wildlife Sanctuary,
Bethuadahari Wildlife Sanctuary, Ballavpur Wildlife Sanctuary, Haliday Island Wildlife Sanctuary

Mission moon: NASA to launch lunar lander ‘Athena’ with SpaceX Falcon 9 on February 26, 2025
● The US space agency, the National Aeronautics and Space Administration (NASA), is preparing
to launch its mission Moon on February 26, 2025.
Key Highlights:
● The spacecraft Nova-C lander ‘Athena’ on a SpaceX Falcon 9 rocket is scheduled for a lift-off
from Florida’s Kennedy Space Center from Launch Complex 39A.
● This mission is a part of NASA’s CLPS (Commercial Lunar Payload Services)
initiative and Artemis campaign.
● The Intuitive Machines IM-2 mission, carrying NASA science investigations and technology
demonstrations to the Moon, will be streamed online.
● Space enthusiasts can watch the live launch coverage on NASA+.
● The prelaunch events will begin on February 25, 2025.
● Intuitive Machines’ lunar lander will spend around one week in transit to the Moon following
the launch.
● As per NASA, the spacecraft will make a landing on the lunar surface possibly on March
6, 2025 or later.
China successfully launches Zhongxing-10R satellite aboard Long March 3B
● China successfully launched the Zhongxing-10R satellite aboard a Long March 3B carrier rocket,
strengthening its space-based communication capabilities.
● The launch took place at 8:11 PM Beijing Time (BJT) on February 22, 2025 from the Xichang
Satellite Launch Center in Sichuan province.

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 Important Monthly Current Affairs Capsule – February 2025

● Designed to provide high-quality satellite communication and data transmission services.

● Supports broadcasting, emergency communication, and secure transmissions.
Google-backed Pixxel launches India’s first cutting-edge hyperspectral satellites
● Bengaluru-based startup Pixxel has successfully launched three high-resolution commercial
hyperspectral satellites, part of its ‘Firefly’ constellation, from the Vandenberg Space Force
Base in California.
● The satellites were deployed on SpaceX’s Transporter-12 rideshare mission, integrated
via Exolaunch.
● A Leap in Hyperspectral Imaging Technology
● Firefly constellation offers six times sharper resolution than existing hyperspectral satellites,
achieving an unprecedented five-meter resolution.
● Captures intricate details previously invisible to conventional imaging systems.
● Features advanced sensors capable of capturing data across 150+ spectral bands.
● Enables detection of chemical compositions, vegetation health, water quality, and atmospheric
conditions.
Hyderabad-based start-up XDLINX Spacelabs to Launch Satellite on SpaceX Transporter-12 Mission
● Hyderabad-based start-up XDLINX Spacelabs is set to launch its ELEVATION-1 technology
demonstrator satellite on January 15, 2025 as part of SpaceX’s Transporter-12 mission.
● The launch will take place from Vandenberg Space Force Base, California, alongside satellites
from Digantara and Pixxel.
● The ELEVATION-1 satellite was conceptualized, designed, tested, and constructed within just
eight months, showcasing XDLINX’s capability for rapid satellite development.
● The satellite represents a significant step in advancing satellite communication
technologies. Syed Ahmed, payload scientist at XDLINX, highlighted that this mission
demonstrates the company’s ability to execute end-to-end satellite development within a
compressed timeframe.
● This launch marks a major milestone for XDLINX, reinforcing its position in India’s evolving space
technology landscape.
Decommissioned naval warship INS Guldar to be sunk off Sindhudurg coast to boost scuba tourism
● The Indian Navy has handed over Ex INS Guldar, a Landing Ship Tank (Medium),
to Maharashtra Tourism Development Corporation Limited (MTDC).
● The ship will be converted into India’s first underwater museum and artificial reef using a
decommissioned naval vessel.

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 Important Monthly Current Affairs Capsule – February 2025

● The ship was transferred to MTDC at Karwar on an ‘as is where is’ basis. The MTDC will manage
the transformation, which includes removing pollutants, securing environmental
clearances, obtaining necessary NOCs, and scuttling the ship at Sindhudurg following
strict safety protocols.
About Ex INS Guldar
● Built at Gdynia Shipyard, Poland and commissioned on December 30, 1985.
● Served in Eastern Naval Command (1985-1995) and later in Andaman and Nicobar
Command until decommissioning on January 12, 2024.
● Sailed for over 3,900 days and conducted over 490 beaching operations to land Army troops
ashore.
● Participated in key operations: Op Aman, Op Azad, Op Pawan, and Op Tasha.
Zydus Lifesciences Launches India’s First Quadrivalent Flu Vaccine
● Zydus Lifesciences has launched VaxiFlu-4, India’s first quadrivalent influenza vaccine, providing
protection against four virus strains based on WHO recommendations.
● Approved by the Central Drug Laboratory (CDL), the vaccine was developed at Zydus’s Vaccine
Technology Centre (VTC) in Ahmedabad.
● The company aims to enhance flu prevention and improve healthcare accessibility in India by
offering an affordable, high-quality solution.
● Influenza remains a significant public health concern, with seasonal outbreaks causing high
mortality worldwide.
● Meanwhile, Zydus Lifesciences’ stock is trading at ₹879.95 as of February 27, 2025, reflecting a
slight decline of 34%.
Delhi AIIMS Set to Open Nation’s First Digital Addiction Facility
● The All India Institute of Medical Sciences (AIIMS) Delhi is set to launch India’s first Centre for
Advanced Research on Addictive Behaviours (CAR-AB) to tackle internet and technology
addiction among children and youth.
● Approved by the Indian Council of Medical Research (ICMR), the center will focus on evidence-
based solutions for problematic technology use.
National Aeronautics and Space Administration to launch Spherex telescope to find what happened
right after the Big Bang
● National Aeronautics and Space Administration (NASA) is set to launch SPHEREx (Spectro-
Photometer for the History of the Universe, Epoch of Reionization, and Ices Explorer) aboard
a Falcon 9 rocket into low Earth orbit (LEO).

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 Important Monthly Current Affairs Capsule – February 2025

● This $500 million mission aims to map the universe in 3D using near-infrared radiation,
providing unprecedented insights into cosmic history and structure.
● NASA has been developing SPHEREx for nearly a decade.
About NASA:
● Headquarters: Washington, D.C., USA
● Founded: July 29, 1958
● Motto: “For the Benefit of All”

CURRENT AFFAIRS: APPS & PORTALS

Central Depository Services (India) (CDSL) and National Securities Depository (NSDL) jointly launch
unified investor app
● Central Depository Services (India) (CDSL) and National Securities Depository (NSDL) have
introduced new features in their investor apps:
o MyEasi (CDSL)
o SPEED-e (NSDL)
● The initiative is backed by SEBI to provide a consolidated view of investor holdings across
Market Infrastructure Institutions (MIIs).
Key Features of MyEasi & SPEED-e Apps:
● Consolidated Securities View – Investors can see all holdings from CDSL and NSDL on a single
dashboard.
● Portfolio Management – Access transaction and holding statements in one place for simplified
tracking.
● Market Position Monitoring – Investors can track open positions and margin details across stock
exchanges and clearing corporations.
● Single-Login System – Provides seamless access to all services.
● Enhanced Security – Two-factor authentication ensures data protection.
● Multi-Platform Access – Available on Web, iOS, and Android for better accessibility.
About CDSL :
● Headquarters : Mumbai, Maharashtra
● MD & CEO : Nehal Vora
About NSDL :
● Founded : 1996
● Headquarters : Mumbai, Maharashtra, India

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 Important Monthly Current Affairs Capsule – February 2025

● MD & CEO : Mr. Vijay Chandok

CURRENT AFFAIRS: ENVIRONMENT

Banaras Hindu University Researchers in Varanasi Discover New Species of Phytopathogenic Fungi,
Epicoccum indicum (Ascomycota, Didymellaceae)
● Researchers at Banaras Hindu University in Varanasi, India discovered a new species of
phytopathogenic fungi, Epicoccum indicum (Ascomycota, Didymellaceae).
● This fungus is associated with an emerging leaf spot disease in Chrysopogon
zizanioides (vetiver).
● The team included Raghvendra Singh, a senior assistant professor, and Soumyadeep Rajwar,
a research scholar from the Department of Botany at Banaras Hindu University.

International Big Cat Alliance (IBCA) Becomes a Full-Fledged Treaty-Based Organization

● International Big Cat Alliance (IBCA) Framework Agreement comes into force from January 23,
2025 as a treaty-based international organization.
● 5 countries ratified the agreement: India, Nicaragua, Eswatini, Somalia, and Liberia.
● 27 countries, including India, have consented to join IBCA, along with multiple
international/national wildlife organizations.
● Launched by PM Narendra Modi on April 9, 2023, during the 50 Years of Project Tiger event.
About Ministry of Environment:
● Cabinet Minister: Bhupender Yadav
● Minister of State (MoS): Kirtivardhan Singh

Researchers Discovered Two New Goby Fish Species in Andra Pradesh

● The Zoological Survey of India (ZSI) discovered two species of goby fish, Hemigobius
hoevenii and Mugilogobius tigrinus, at the Coringa Wildlife Sanctuary near Kakinada, Andhra
Pradesh.
● These species had not been previously recorded in the state of Andhra Pradesh.
Key Highlights:
● First Record of M. tigrinus: Mugilogobius tigrinus is recorded along the eastern coastline of
India for the first time.
● Ecological Importance: Gobies, especially in estuarine areas and mangroves, play an important
role in the ecosystem. They are integral parts of the food chain and can serve as indicators of

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 Important Monthly Current Affairs Capsule – February 2025

environmental health.
● India has 135 species of gobies along its coasts, with 95 species found in estuarine and
mangrove habitats.

CURRENT AFFAIRS: BOOKS & AUTHOUR

Omar Abdullah Released the book named ‘Hearts and Heroes’ by Kulbhushan Kumar
• Chief Minister of J&K Omar Abdullah officially released the book "Hearts and Heroes: Lives that
Shaped Us", authored by Kulbhushan Kumar, a JKAS officer currently serving as Director of
Finance in Disaster Management, Relief & Rehabilitation Department.
• The book launch event took place at the Civil Secretariat in Jammu, attended by colleagues and
well-wishers of the author.

CURRENT AFFAIRS: PERSON IN NEWS

First astronaut with disability approved for International Space Station mission
● The European Space Agency (ESA) has confirmed that John McFall, a 43-year-old British
surgeon and former Paralympian, has been approved for a long-duration mission aboard the
International Space Station (ISS).
● His selection under ESA’s Parastronaut initiative marks a groundbreaking step toward inclusivity
in space exploration.
John McFall’s Journey to Space:
● Early Life & Athletic Career:
o At 19 years old, McFall lost his leg in a motorbike accident but pursued a career in
athletics, representing Great Britain as a Paralympian.
o He later became a surgeon, demonstrating resilience and determination.
● Entry into the ESA Astronaut Reserve:
o In 2022, ESA selected McFall for its astronaut reserve, focusing on the feasibility
of sending an astronaut with a prosthetic leg to space.
o Since then, ESA has studied how prosthetic limbs function in microgravity.
Medical Clearance:
● In February 2025, McFall passed ESA’s medical evaluation, becoming eligible for a long-duration
space mission.
● His clearance was approved by all ISS partners, including the United States.
● The initiative aligns with ESA’s Diversity, Equity, and Inclusion (DEI) commitment, ensuring equal

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 Important Monthly Current Affairs Capsule – February 2025

opportunities in space exploration.

SPORTS NEWS
India to Participate in the 9th Asian Winter Games 2025: A Landmark Move for Winter Sports
● The Government of India has approved the participation of an 88-member Indian contingent in
the 9th Asian Winter Games (AWG), set to be held from 7th to 14th February 2025 in Harbin, China.
● This marks a significant step towards promoting winter sports in India, with the Indian contingent
consisting of 59 athletes and 29 team officials.
● For the First Time: The Government of India has provided full financial support to athletes under
the Assistance to National Sports Federations (ANSF) Scheme.

Travis Head Wins Maiden Allan Border Medal at 2025 Australian Cricket Awards
● The 2025 Australian Cricket Awards celebrated outstanding performances across all formats,
with Travis Head emerging as the standout cricketer, securing his first-ever Allan Border Medal.
● His remarkable year, featuring 1,427 runs across formats, four centuries, and match-winning
performances, reaffirmed his status as a key player in Australian cricket.

Indian-Origin Astronaut Sunita Williams Breaks Spacewalking Record

● Astronauts Sunita Williams and Butch Wilmore conducted a 5-hour and 26-minute spacewalk on
the ISS.
● They removed degraded radio communications hardware and collected samples to check
for microorganisms on the ISS exterior.
● Sunita Williams, an Indian-origin astronaut, broke the record for the longest total spacewalking
time by a woman, with 62 hours and 6 minutes.

Former India wicketkeeper-batter, Wriddhiman Saha Announces Retirement from All Formats of Cricket
● Former India wicketkeeper-batter Wriddhiman Saha has officially announced his retirement from
all formats of cricket.
● At the age of 40, Saha, renowned for his exceptional wicketkeeping skills and resilience, played
his final match for Bengal against Punjab in the Ranji Trophy Elite 2024-25 Group C encounter.
● He had previously retired from international cricket in November 2024, and in his retirement
announcement, expressed deep gratitude to his family, coaches, and cricketing associations for their
unwavering support throughout his career.

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 Important Monthly Current Affairs Capsule – February 2025

Paris Paralympics medalist Rubina Francis, Union Sports Minister to join Fit India Sundays on Cycle
event
● The Fit India Sundays on Cycle initiative will continue with Union Minister of Youth Affairs &
Sports, Dr. Mansukh Mandaviya, leading a diverse group of riders.
● Rubina Francis, a Paris Paralympics bronze medalist in the P2 10m air pistol SH1 event, will also
participate in the ride.
● Theme: Combating Obesity in India

India's U19 Women's Cricket Team Clinches ICC U19 T20 World Cup 2025 Title
● In a landmark final at the Bayuemas Oval in Kuala Lumpur, Malaysia, the Indian U19 women’s
cricket team recorded a dominant nine-wicket victory over South Africa in the ICC U19 Women’s T20
World Cup 2025.
● This win not only secured their second consecutive title but also reaffirmed their status as a youth
powerhouse in women's cricket.
● Victory Margin: India won by 9 wickets.
● Match Venue: Bayuemas Oval, Kuala Lumpur, Malaysia.
Simona Halep Announces Retirement from Professional Tennis at 33
● Simona Halep, a two-time Grand Slam champion and former World No. 1, has officially
announced her retirement from professional tennis at the age of 33.
● The decision comes after a challenging comeback attempt following an injury and a doping
suspension.
● Halep made her retirement announcement after a first-round loss to Lucia Bronzetti at the
Transylvania Open in her home country of Romania.

Grandmaster Praggnanandhaa Triumphs Over Gukesh to Win Tata Steel Masters 2025
● Indian Grandmaster R Praggnanandhaa clinched the Tata Steel Masters Chess Tournament
2025, defeating world champion D. Gukesh 2-1 in a dramatic tiebreaker.
● The thrilling contest saw both young prodigies engage in an intense battle after finishing the 13th
and final round tied at 8.5 points each.

Ollie Schniederjans Claims Remarkable Victory at International Series India

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 Important Monthly Current Affairs Capsule – February 2025

● Ollie Schniederjans made a stunning comeback to win the International Series India, presented
by DLF, held at the DLF Golf and Country Club in Gurugram, near Delhi.
● Final Round Performance: Schniederjans shot a three-under-par 69, giving him a four-round total
of 10-under.

Niraj Kumar Clinches Gold in National Games Shooting Event

• Indian Navy’s Niraj Kumar stunned Paris Olympics bronze medallist Swapnil Kumar and
Aishwarya Pratap Singh Tomar to win gold in the men’s 50m rifle 3 positions event at the
National Games.
• Men’s 50m Rifle 3 Positions Event
o Gold: Niraj Kumar (Services Sports Control Board - SSCB) – 464.1 points
o Silver: Aishwarya Pratap Singh Tomar (Madhya Pradesh) – 462.4 points
o Bronze: Swapnil Kumar (Maharashtra) – 447.7 points

Varun Chakravarthy Nominated for ICC Men's Player of the Month

• Indian spinner Varun Chakravarthy has been nominated for the ICC Men's Player of the Month
award for January 2025 following his outstanding performance in the T20I series against
England.
• His mystery spin played a crucial role in India’s 4-1 series victory at home.
About ICC
• Headquarters: Dubai, United Arab Emirates
• Founded: 15 June 1909
• Chairman: Jay Shah

Marcus Stoinis Announces Retirement from One Day International Cricket

• Australian all-rounder Marcus Stoinis has retired from One Day International (ODIs), ruling
himself out of the 2025 ICC Champions Trophy.
• The 35-year-old will now focus on T20 cricket, where he remains available for selection.
• Stoinis played a crucial role in Australia’s 2023 ODI World Cup victory, but his departure comes
as Australia faces multiple injuries, including Mitchell Marsh, Pat Cummins, and Josh Hazlewood.

Shrachi Rarh Bengal Tigers Crowned Hockey India League 2024-25 Champions

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 Important Monthly Current Affairs Capsule – February 2025

• Shrachi Rarh Bengal Tigers defeated Hyderabad Toofans 4-3 in a thrilling Men’s Hockey India
League (HIL) 2024-25 final, held at Birsa Munda International Hockey Stadium, Rourkela.
• Jugraj Singh’s hat trick and Sam Lane’s late goal secured the title for the Tigers.

International Cricket Council Unveils Champions Trophy 2025 Anthem ‘Jeeto Baazi Khel Ke’
• The International Cricket Council (ICC) has officially launched the theme song for the ICC Men’s
Champions Trophy 2025, titled ‘Jeeto Baazi Khel Ke’, performed by renowned Pakistani singer
Atif Aslam.
• The anthem aims to build excitement for the tournament, which is just 12 days away from kickoff.
• ‘Jeeto Baazi Khel Ke’ – Capturing the Spirit of Cricket
• The official anthem of the ICC Men’s Champions Trophy 2025 embodies the passion, energy,
and global love for cricket.
About ICC
• Headquarters: Dubai, United Arab Emirates
• Founded: 15 June 1909
• Chairman: Jay Shah

Varun Chakravarthy Becomes India’s Second-Oldest ODI Debutant

• At 33 years and 164 days, Varun Chakravarthy has become India’s second-oldest cricketer to
make his ODI debut, following Farokh Engineer (36 years, 138 days).
• The Kolkata Knight Riders (KKR) spinner made an immediate impact, dismissing Phil Salt in his
opening spell, strengthening his case for selection in the Champions Trophy 2025.

Former Sri Lankan captain Dimuth Karunaratne Retires from International Cricket After 100th Test
• Former Sri Lankan captain and veteran opener Dimuth Karunaratne has retired from international
cricket after playing his 100th Test against Australia in Galle.
• The 36-year-old scored 36 and 14 in his farewell match, which Australia won by nine wickets,
sweeping the two-match Test series.
• The International Cricket Council (ICC), through Chairman Jay Shah, praised his contributions,
recognizing his exceptional career and leadership.
About ICC
• Headquarters: Dubai, United Arab Emirates
• Founded: 15 June 1909

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 Important Monthly Current Affairs Capsule – February 2025

• Chairman: Jay Shah

Promising Indian youngster Manas Dhamne Clinches Maiden ITF Singles Title in Tunisia
• Promising Indian youngster Manas Dhamne secured his first ITF singles title with a comeback
victory over Italy’s Lorenzo Carboni in the M15 tournament final in Monastir, Tunisia.
About Tunisia
• Capital: Tunis
• President: Kais Saied
• Currency: Tunisian dinar (TND)

Mumbai Open 2025: Jil Teichmann Wins Singles Title, Pridankina & Anshba Clinch Doubles Trophy
• Switzerland’s Jil Teichmann clinched another WTA 125 title at the L&T Mumbai Open, defeating
Thailand’s Mananchaya Sawangkaew 6-3, 6-4 in the final.
• The No. 5 seed took 1 hour and 37 minutes to overcome the 22-year-old rising star, converting
five of seven break points to secure a straight-sets victory.
• Teichmann, 27, dropped just one set throughout the tournament, continuing her resurgence after
a period of ranking struggles.
Indian men’s ice hockey team registers first-ever win at Winter Asian Games
• In a landmark achievement, India's men's ice hockey team registered its first-ever victory at the
Winter Asian Games 2025, defeating Macao, China 4-2 at the Harbin Ice Hockey Arena, Harbin,
China.
• Despite suffering heavy losses in their opening matches—0-30 against Hong Kong, China and 1-
19 against Turkmenistan—the Indian team made a strong comeback to secure their maiden win
in the tournament.
About China
• Capital: Beijing
• President: Xi Jinping
• Currency: Renminbi

Reliance Consumer Products Launches ‘Spinner’ in Sports Hydration Market

• Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Industries, has entered the
sports hydration drink segment with its new brand, Spinner.

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 Important Monthly Current Affairs Capsule – February 2025

• The drink, co-created with Sri Lankan cricket legend Muttiah Muralitharan, is positioned as an
affordable alternative to established brands like Gatorade and Powerade.
• Spinner is priced at ₹10 for a 150 ml bottle, making it the most affordable sports hydration drink.
• Comparison with Competitors:
o Gatorade (PepsiCo) – ₹50 for 500 ml
o Powerade (Coca-Cola) – ₹50 for 500 ml
o Aptonia (Decathlon) – ₹99 for 400 ml (₹69 on discount)

Carlos Alcaraz Wins First Indoor Hardcourt Title at Rotterdam Open

• Carlos Alcaraz claimed his first indoor hardcourt title by defeating Alex de Minaur 6-4, 3-6, 6-2 in
the Rotterdam Open final.
• This victory marked his 17th ATP Tour title and made him the first Spanish champion in the
tournament’s 52-year history.
• Alcaraz displayed resilience despite battling a cold and enduring multiple three-set matches,
showcasing his adaptability on indoor courts.

Brazilian Legend Marcelo Retires from Football at 36

• Brazilian footballer Marcelo, one of the most decorated left-backs in football history, has
announced his retirement at the age of 36.
• The former Real Madrid and Brazil defender
• enjoyed a stellar career, winning 25 major trophies in 15 years at Madrid, including five UEFA
Champions League titles.
• Real Madrid president Florentino Perez hailed Marcelo as one of the greatest left-backs in
football history.
About UEFA
• Headquarters: Nyon, Switzerland

Rohit Sharma's Record-Breaking Performance Powers India to Victory in 2nd ODI Against England
• India’s captain Rohit Sharma delivered a stellar performance in the second ODI against England
in Cuttack, leading India to a thrilling four-wicket win.
• Rohit’s 119-run knock off 90 balls, which included 12 fours and 7 sixes, helped him set multiple
records.
• Most Sixes in ODI Cricket

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 Important Monthly Current Affairs Capsule – February 2025

• R • Player • Cou • S • Innings

a ntry i Played
n x
k e
s
• 1 • Shahid • Paki • 3 • 369
Afridi stan 5
1
• 2 • Rohit • India • 3 • 259
Sharma 3
8
*
• 3 • Chris Gayle • Wes • 3 • 294
t 3
Indie 1
s
• 4 • Sanath • Sri • 2 • 433
Jayasuriya Lank 7
a 0
• 5 • MS Dhoni • India • 2 • 297
2
9

Meghalaya to Host 39th National Games in 2027

• The Indian Olympic Association (IOA) has officially announced that Meghalaya will host the 39th
edition of the National Games in February/March 2027.
• The decision was conveyed by IOA President PT Usha to Meghalaya Chief Minister Conrad
Sangma, marking a major milestone for the northeastern state.
• Meghalaya has been granted hosting rights for the 39th National Games in 2027 by the IOA.
About Meghalaya
• Capital: Shillong
• Chief minister: Conrad Sangma

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 Important Monthly Current Affairs Capsule – February 2025

• Governor: C. H. Vijayashankar

Pankaj Advani Clinches 36th National Title, Wins 10th Men’s Snooker Championship
• Pankaj Advani, India’s most decorated cueist, secured his 36th national title and 10th men’s
snooker championship at Yashwant Club.
• In an impressive comeback, he defeated Brijesh Damani in the final, avenging his group-stage
loss.
• Secured 36th national gold medal and 10th men’s snooker title.

Sachin Yadav Continues His Rise in Javelin, Wins National Games Gold with 84.39m Throw
• Uttar Pradesh's Sachin Yadav continued his impressive rise in javelin throw, securing the gold
medal at the 38th National Games in Ganga Athletic Stadium
Dehradun.
• The 25-year-old delivered a remarkable performance, bettering his personal best with an 84.39m
throw, overcoming stiff competition from Rohit Yadav and Shivpal Singh in the nine-man final
held at Maharana Pratap Sports College, Dehradun.

Kevin Durant Becomes 8th Player in NBA History to Reach 30,000 Points
• Phoenix Suns star Kevin Durant reached 30,000 career points against the Memphis Grizzlies,
hitting a free throw in the third quarter.
• He is now the 8th player in NBA history to achieve this milestone, joining:
o LeBron James (41,623)
o Kareem Abdul-Jabbar (38,387)
o Karl Malone (36,928)
o Kobe Bryant (33,643)
o Michael Jordan (32,292)
o Dirk Nowitzki (31,560)
o Wilt Chamberlain (31,419)

Shikhar Dhawan Named Official Ambassador for ICC Champions Trophy 2025
● The ICC Champions Trophy 2025, scheduled from February 19 to March 9 in Pakistan and Dubai,
has gained further excitement with the announcement of Shikhar Dhawan as one of its official
event ambassadors.

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 Important Monthly Current Affairs Capsule – February 2025

● Dhawan, India’s highest run-scorer in the tournament’s history, joins an elite group of cricketing
legends to promote the competition.
Shikhar Dhawan’s Role as an Ambassador
● India’s highest run-scorer in Champions Trophy history with 701 runs.
● The only player to win the Golden Bat in two consecutive editions (2013 & 2017).
● Will engage with fans through guest columns, exclusive insights, and content about the
tournament.
Other Iconic Ambassadors for ICC Champions Trophy 2025
Alongside Dhawan, three other cricketing legends have been appointed as official ambassadors:
1. Sarfaraz Ahmed – Pakistan’s 2017 Winning Captain
2. Shane Watson – Australia’s Champion All-Rounder
3. Tim Southee – New Zealand’s Bowling Spearhead
About ICC
● Headquarters: Dubai, United Arab Emirates
● Founded: 15 June 1909
● Chairman: Jay Shah
ICC Players of the Month – January 2025
● The International Cricket Council (ICC) has announced Jomel Warrican (West Indies) and Beth
Mooney (Australia) as the Players of the Month for January 2025, recognizing their exceptional
performances in international cricket.
● India’s leading Test bowler, Jasprit Bumrah, and Australia’s talented all-rounder, Annabel
Sutherland, have been named the ICC Men’s and Women’s Players of the Month for December
2024.
Jomel Warrican – ICC Men’s Player of the Month
● First ICC Men’s Player of the Month award.
● Key figure in West Indies’ historic Test win in Pakistan (first since 1990).
● Took 19 wickets in two Tests at an average of 9.00.
● First West Indian to win the award since Gudakesh Motie (May 2024).
Beth Mooney – ICC Women’s Player of the Month
● Recognized for her role in Australia’s Ashes triumph over England.
● Had a slow start but delivered match-winning performances in ODIs and T20Is.
● Followed Annabel Sutherland (December 2024 winner), continuing Australia’s dominance.
Bangladesh’s Shohely Akhter Becomes First Woman Cricketer Banned by ICC for Corruption

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 Important Monthly Current Affairs Capsule – February 2025

● Bangladesh’s Shohely Akhter has become the first woman cricketer to be banned by the
International Cricket Council (ICC) for corruption charges.
● The 36-year-old off-spinner was found guilty of attempting to fix matches during the 2023
Women’s T20 World Cup and has been banned for five years from all forms of cricket,
effective February 10, 2025.
Corruption Charges & ICC Ban
The ICC Anti-Corruption Unit (ACU) found Shohely Akhter guilty of violating five provisions of the ICC
Anti-Corruption Code:
● Article 2.1.1: Attempting to fix matches or influence their outcome.
● Article 2.1.3: Engaging in corrupt conduct by making improper approaches to fellow players.
● Article 2.1.4: Offering money to manipulate match outcomes.
● Article 2.4.4: Failing to report corrupt approaches to the ICC.
● Article 2.4.7: Trying to obstruct investigations into corruption.
● Shohely admitted to all charges and accepted the five-year ban imposed by the ICC.
38th National Games 2025 Concludes in Uttarakhand with a Strong Focus on Sustainability
● The 38th National Games 2025 ended on a grand note in Haldwani, Uttarakhand, marking a
significant milestone in India’s growing sports culture.
● Held from January 28 to February 14, 2025, the event saw participation from over 10,000
athletes across 35 sports disciplines, making it one of the largest sporting events in India.
● This edition of the National Games stood out for its sustainability initiatives, aligning with the
theme ‘Green Games’ to minimize environmental impact.
● The Home Minister announced that the 39th National Games will be held in Meghalaya.
Cristiano Ronaldo Tops 2025 List of Highest-Paid Athletes
● Cristiano Ronaldo has once again secured his place as the highest-paid athlete in the world,
earning a staggering $285 million in 2025.
● His earnings come from:
o $200 million annual salary from Al Nassr (Saudi Arabia)
o $65 million from endorsements and business ventures
This reinforces football’s growing commercial appeal and the significant investments from Middle
Eastern clubs in global sports.
Top 10 Highest-Paid Athletes in 2025
The rankings include stars from football, basketball, golf, and American football:
1. Cristiano Ronaldo – $285 million

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 Important Monthly Current Affairs Capsule – February 2025

2. Jon Rahm (Golf) – $218 million

3. Lionel Messi – $135 million
4. LeBron James – $128.7 million
5. Neymar – $110 million
6. Stephen Curry – $105.8 million
7. Karim Benzema – $104 million
8. Giannis Antetokounmpo – $93.8 million
9. Kylian Mbappé – $90 million
10. Jared Goff (NFL) – $85.6 million

Pakistan’s star batter Babar Azam Becomes Joint-Fastest to 6,000 ODI Runs
● Pakistan’s star batter Babar Azam has achieved another milestone by becoming the joint-fastest
player to reach 6,000 runs in One Day Internationals (ODIs).
● He reached this landmark during the final of the ODI tri-series against New Zealand at the
National Stadium.
● Babar reached 6,000 runs in just 123 innings, equaling the record set by South African legend
Hashim Amla.
● He surpassed Virat Kohli to become the fastest Asian to achieve this feat, as Kohli had taken 136
innings.
9th Asian Winter Games 2025: Key Highlights
● The 9th Asian Winter Games were held in Harbin, Heilongjiang Province, China, from February 7
to February 14, 2025. Organized by the Olympic Council of Asia (OCA) and supported by
the International Skating Union (ISU), the event witnessed participation from 34
countries across 11 winter sports disciplines.
Theme & Mascots:
● Mascots: “Binbin” & “Nini” (tigers)
● Motto: “Dream of Winter, Love among Asia”
Medal Tally – China Leads the Standings
● China – 85 medals (32 Gold, 27 Silver, 26 Bronze)
● Republic of Korea – 45 medals (16 Gold, 15 Silver, 14 Bronze)
● Japan – 37 medals (10 Gold, 12 Silver, 15 Bronze)
● Kazakhstan & Philippines rounded off the top five.
India’s Performance at the 2025 Asian Winter Games

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● India sent its largest-ever contingent of 59 athletes.

● No medals won, but significant improvement in winter sports.
● Tara Prasad (figure skater) finished 8th in women’s skating, achieving her personal best.
Debut & Historic Wins
● New Participants:
o Saudi Arabia – Competed in Alpine Skiing & Snowboarding for the first time.
o Cambodia – Participated in Cross-Country Skiing for the first time.
● First-Time Medalists:
o Taiwan, Thailand, and the Philippines won their first-ever medals in Asian Winter Games
history.
Future Host – NEOM 2029
● Saudi Arabia will host the 10th Asian Winter Games in 2029 at NEOM, becoming the first West
Asian country to organize the event.
Campa Cola Secures IPL 2025 Co-Presenting Rights for ₹200 Crore
● Reliance Consumer Products’ Campa Cola has acquired the co-presenting rights for IPL 2025,
marking a major move in India’s beverage market.
● The ₹200 crore deal replaces Coca-Cola’s Thums Up, signaling a shift in industry dynamics.
Ugandan runner Jacob Kiplimo Breaks Half-Marathon World Record in Barcelona
● Ugandan runner Jacob Kiplimo made history by shattering the half-marathon world
record in Barcelona.
● The 24-year-old clocked 56 minutes 42 seconds, reclaiming the record he first held in 2021.
● His time was 48 seconds faster than the previous world record set by Ethiopia’s Yomif
Kejelcha in November 2024.
2025 Sportstar Aces Awards: Recognizing India’s Sporting Excellence
● The 2025 Sportstar Aces Awards held at the Taj Mahal Palace, Mumbai, celebrated India’s top
sporting talents.
● Hockey legend P. R. Sreejesh and shooter Manu Bhaker took home the prestigious honours,
with several other athletes across various sports acknowledged for their remarkable
achievements.
Top Individual Winners
● P. R. Sreejesh (Hockey)
o Sportstar of the Year (Male)
● Manu Bhaker (Shooting)

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o Sportstar of the Year (Female) & Sportswoman of the Year

o Won two medals at the 2024 Paris Olympics
o Dedicated the win to her father and coach
o Presented the awards by ICC Chairman Jay Shah
● Swapnil Kusale (Shooting)
o Sportsman of the Year
o Won bronze at the 2024 Paris Olympics
Team Awards
● Indian Men’s & Women’s Chess Teams
o National Team of the Year
o Won gold medals at the 45th Chess Olympiad
● Mumbai Cricket Team (2023-24 Ranji Trophy Champions)
o Club/State Team of the Year
o Award received by Ajinkya Naik (MCA President) & Dhawal Kulkarni
Special Recognition
● Downtown Heroes FC (Srinagar Football Club)
o Chairperson’s Choice (Sports for Social Good)
o Recognized for promoting football in Kashmir
Other Key Awards
● Best State for Promotion of Sports: Madhya Pradesh
● Best Corporate for Promotion of Sports: Reliance
● Best PSU for Promotion of Sports: Railway Sport Promotion Board
● Sports Women of the Year (Non-Olympic Sport): Divya Deshmukh (Chess)
● Sports Women of the Year (Para Sport): Avani Lekhara (Shooting)
● Young Achiever of the Year (Male): Parth Manek (Shooting)
● Young Achiever of the Year (Female): Neha Sangwan (Wrestling)
● Lifetime Achievement Award (Male): Gurbux Singh (Hockey)
● Lifetime Achievement Award (Female): Mary D’Souza Sequeira (Hockey)
● Super Achievers Para Athletes: Avani Lekhara, Navdeep Singh, Harvinder Singh
● Sportsman of the Year (Olympic Sport): Swapnil Kusale & Sarabjot Singh (Shooting)
● Inspirational Icon Award: PV Sindhu (Badminton)
● Coach of the Year: Jaspal Rana (Shooting)
Olympic Esports Games: Saudi Arabia to Host Historic Event in 2027

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 Important Monthly Current Affairs Capsule – February 2025

● In July 2023, the International Olympic Committee (IOC) made a pioneering decision to introduce
the Olympic Esports Games, bridging the worlds of esports and traditional sports.
● Saudi Arabia has been selected as the host country for the first-ever Olympic Esports
Games in 2027, marking a historic milestone in the global gaming industry.
● The event will be organized in collaboration with the Saudi Olympic and Paralympic Committee
(SOPC) and supported by the Esports World Cup Foundation (EWCF), the Founding Partner of
the games.
Host Country and Partners
● Host Country: Saudi Arabia has been chosen to host the inaugural Olympic Esports Games
in 2027.
● Founding Partner: The Esports World Cup Foundation (EWCF) will be the Founding Partner,
playing a key role in organizing the event.
Indonesia Wins First-ever Asia Mixed Team Badminton Championship
● In a historic victory, Indonesia claimed its first-ever Asia Mixed Team Badminton
Championship title by defeating defending champions China with a 3-1 win at the Conson Sports
Centre in Qingdao, China.
● This victory marks a significant milestone in Indonesia’s badminton legacy, breaking China’s
dominance in the tournament.
Manu Bhaker Wins BBC Indian Sportswoman of the Year 2024
● Manu Bhaker, an Olympic medal-winning shooter, has been named the BBC Indian
Sportswoman of the Year (ISWOTY) 2024.
● The award, organized by the British Broadcasting Corporation (BBC), recognizes
outstanding Indian female athletes for their achievements in the past year.
About the BBC ISWOTY Award:
● Annual award celebrating female athletes in India.
● Fifth edition of the award.
● Nominees selected by a panel of sports journalists and experts, followed by public voting.
● Other nominees for 2024: Aditi Ashok (golf), Avani Lekhara (para-shooting), Smriti Mandhana
(cricket), and Vinesh Phogat (wrestling).
Past BBC ISWOTY Winners
● 2019 – PV Sindhu (badminton)
● 2020 – Koneru Humpy (chess)
● 2021 & 2022 – Mirabai Chanu (weightlifting)

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 Important Monthly Current Affairs Capsule – February 2025

● 2023 – No awards held

Other BBC Awards 2024 Winners
● Indian Para-Sportswoman of the Year – Avani Lekhara (shooting)
● Emerging Player of the Year – Sheetal Devi (archery)
● Lifetime Achievement Award – Mithali Raj (cricket)

Indian pacer Mohammed Shami Creates History: Fastest Indian to 200 ODI Wickets & More
● Indian pacer Mohammed Shami has cemented his place in cricket history by becoming
the fastest Indian to reach 200 ODI wickets during the India vs Bangladesh clash in the ICC
Champions Trophy 2025 in Dubai.
● He surpassed Ajit Agarkar’s record (133 matches) by achieving the feat in just 110 matches.
● On the global stage, Shami equaled Pakistan’s Saqlain Mushtaq as the joint second-fastest to
reach this milestone, trailing only Mitchell Starc (102 matches).
● Additionally, he became India’s highest wicket-taker in ICC ODI tournaments with 60 wickets in
19 matches, surpassing Zaheer Khan’s 59 wickets.
Rohit Sharma Becomes Second Fastest to 11,000 ODI Runs
● Indian cricket captain Rohit Sharma achieved a historic milestone by becoming the second
fastest batsman to reach 11,000 runs in One-Day Internationals (ODIs).
● He accomplished this feat during India’s Champions Trophy 2025 match against Bangladesh in
Dubai on February 20, 2025.
● With this, Rohit became the fourth Indian and the 10th player overall in ODI history to reach this
landmark.
Key Highlights
1. Rohit Sharma’s 11,000-Run Milestone
● Achieved 11,000 ODI runs in just 261 innings and 270 matches.
● Became the second fastest to the milestone, only behind Virat Kohli (222 innings).
● Reached the milestone in the fourth over of India’s chase of 229 runs, with a boundary
off Mustafizur Rahman over mid-on.
● Fourth Indian cricketer to reach 11,000 runs, after Sachin Tendulkar, Sourav Ganguly, and Virat
Kohli.
● Rohit Sharma surpassed legends like Tendulkar, Ponting, and Ganguly in terms of speed to
11,000 runs.
● 10th player overall in ODI cricket history to achieve this feat.

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 Important Monthly Current Affairs Capsule – February 2025

2. Comparison with Other ODI Batting Legends

Player Innings Taken to Reach 11,000 ODI Runs

Virat Kohli 222

Rohit Sharma 261

Sachin Tendulkar 276

Ricky Ponting 286

Sourav Ganguly 288

3. Position in India’s All-Time ODI Run Scorers

Player Total ODI Runs Rank

Sachin Tendulkar 18,426 1st

Virat Kohli 13,985 2nd

Sourav Ganguly 11,363 3rd

Rohit Sharma 11,000+ 4th

Rahul Dravid 10,889 5th

MS Dhoni 10,773 6th

Vishvaa Rajakumar Wins Memory League World Championship 2025
● In a remarkable display of cognitive brilliance, 20-year-old Vishvaa Rajakumar from India has
been crowned the winner of the Memory League World Championship 2025, as reported by The
New York Times.
● This prestigious global competition tests participants’ ability to memorize and recall sequences of
numbers, images, and words in record time.
● Rajakumar’s record-breaking performance included recalling 80 digits in just 13.5 seconds,
showcasing his extraordinary mental agility and memorization skills.
Virat Kohli Breaks Tendulkar’s Record for Fastest 14,000 Runs
● Indian cricket star Virat Kohli has surpassed Sachin Tendulkar’s record to become the fastest
batsman to reach 14,000 runs in international cricket.
● This milestone further cements Kohli’s legacy as one of the greatest batsmen in the history of the
game.
Key Highlights

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 Important Monthly Current Affairs Capsule – February 2025

● Virat Kohli has once again rewritten cricketing history by becoming the fastest batter to reach
14,000 ODI runs.
● He achieved this milestone in just 287 innings, surpassing:
1. Sachin Tendulkar (350 innings)
2. Kumar Sangakkara (378 innings)
Kohli’s Position in All-Time ODI Run-Scorers
1. Sachin Tendulkar – 18,426 runs
2. Kumar Sangakkara – 14,234 runs (Kohli is set to surpass him soon)
3. Virat Kohli – 14,000+ runs (Fastest to reach this mark)
More Records Held by Kohli
● Most ODI Centuries – Surpassed Sachin Tendulkar’s 49 tons during the 2023 ODI World Cup.
● Chase Master – Renowned for match-winning knocks under pressure.
● Unmatched Consistency – Averages among the highest in ODI history.
Saurav Ghosal makes successful comeback from retirement with title in Sydney
● Indian squash legend Saurav Ghosal has made a stunning return to competitive squash,
clinching the Octane Sydney Classic title.
● The former World No. 10, who retired from the Professional Squash Association (PSA)
Tour in April 2023, rejoined the tour on January 1, 2025, to keep his dream of representing India
● In a dominant display, the 38-year-old second seed outplayed Egypt’s Abdelrahman Nasser in
straight sets to claim victory.
Mohun Bagan Super Giant Wins Second Consecutive ISL Winners Shield
● Mohun Bagan Super Giant made history by securing their second consecutive Indian Super
League (ISL) Winners Shield with a dramatic 1-0 victory over Odisha FC at Salt Lake Stadium,
Kolkata.
● A last-minute goal by Dimitrios Petratos sealed the win, making them the first team in ISL history
to defend the Shield successfully.
● This victory also ensured their direct qualification for the AFC Champions League 2.
Pankaj Advani Wins 2025 Asian Snooker Championship
● India’s ace cueist, Pankaj Advani, secured the 2025 Asian Snooker Championship (Men’s
Title) by defeating Amir Sarkosh of Iran in the final.
● This victory marks his 14th Asian title across snooker and billiards formats.
Key Highlights
Pankaj Advani’s Victory

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● Final: Defeated Amir Sarkosh (Iran) 4-1 in frames.

● Semifinal: Defeated Chang Yu Kiu (Hong Kong, China).
● Total Asian Titles: 14 (Snooker & Billiards).
● Breakdown of Titles:
o Asian Snooker Titles: 5 (15-red, 6-reds & team formats).
o Asian Billiards Titles: 9.
● Asian Games Gold Medals: 2 (Doha 2006, Guangzhou 2010).
Other Winners
Women’s Title
● Winner: Narantuya Bayarsaikhan (Mongolia).
● Runner-up: Ng On Yee (Hong Kong, China).
● Semifinalists:
o Ng On Yee defeated Amee Kamani (India).
o Narantuya Bayarsaikhan defeated Anupama Ramachandran (India).
Men’s Under-21 Title
● Winner: Shaheen Sabzi (Iran).
● Runner-up: Zihao Dong (China).
● Semifinalists:
o Zihao Dong defeated Dhruv Patel (India).
About the Asian Snooker Championship 2025
● Organizer: Asian Confederation of Billiards Sports (ACBS).
● Host: Qatar Billiards Sports Federation.
● Location: Doha, Qatar.
● Dates: February 15-21, 2025.
● Categories: Men’s, Women’s, and Under-21.
About the Asian Confederation of Billiards Sports (ACBS)
● Established: 1984 as the Asian Billiards & Snooker Federation.
● Role: Governing body for non-professional English billiards & snooker in Asia.
● Promotes: Snooker, pool, English billiards, and carom.
● Members: 25 countries.
● Headquarters: Doha, Qatar.
● President: Mohamed Salem Al-Nuaimi.
Indian Olympic Association Appoints Ad-Hoc Committee for Boxing Federation of India (BFI) Amid

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 Important Monthly Current Affairs Capsule – February 2025

Election Delay
● The Indian Olympic Association (IOA) has set up a five-member ad-hoc committee to oversee
the Boxing Federation of India (BFI) after it failed to conduct elections within the prescribed
timeline.
● The decision, announced by IOA President PT Usha, aims to restore administrative stability in
the federation.
● However, BFI President Ajay Singh has strongly opposed the move, calling it illegal and a
violation of IOA’s constitution.
About IOA
● President: P. T. Usha
● Founded: 1927
● Headquarters : New Delhi, India
● Founders: Harry Buck, Arthur Noehren

OBITUARIES
American Greg Bell, oldest living Olympic gold medallist in athletics dies
● Greg Bell, the 1956 Olympic long jump gold medalist, passed away on January 25 at his home at
the age of 94.
● At the time of his death, he was the oldest living U.S. track and field Olympic gold medalist.
● Bell was born on November 7, 1930, in Terre Haute, Indiana, into extreme poverty.
Former chief election commissioner Navin Chawla passes away at 79
● Navin Chawla, former Chief Election Commissioner (CEC) of India, passed away at the age
of 79.
● Chawla served as Election Commissioner (EC) from 2005 to 2009 and as CEC from April 2009 to
July 2010.
● His tenure was controversial, with the BJP accusing him of partisan functioning.
● In 2009, then CEC N. Gopalaswami recommended his removal, but the government did not act
on it.
Aga Khan, philanthropist and spiritual leader of Ismaili Muslims, Passed away
● Prince Karim Al-Hussaini, known as Aga Khan IV, the spiritual leader of millions of Ismaili
Muslims and one of the world’s most prominent philanthropists, passed away in Lisbon, Portugal, at the
age of 88.

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 Important Monthly Current Affairs Capsule – February 2025

● Aga Khan IV became the spiritual leader of Ismaili Muslims at just 20 years old, while still an
undergraduate at Harvard University.
● He inherited a material empire built on billions of dollars in tithes and directed these resources to
establish homes, hospitals, and schools in developing countries.

Veteran British actor Brian Murphy, Passes Away

● Veteran British actor Brian Murphy, known for his roles in Man About the House and George and
Mildred, has passed away at 92.
● He was born on September 25, 1932, on the Isle of Wight.
● Best known for 70s sitcoms Man About the House (1973-76) and George and Mildred, he also
appeared in The Avengers, Callan, Z-Cars, and Dixon of Dock Green.

Gyalo Thondup, Elder Brother of Dalai Lama, Passed Away at 97

• Gyalo Thondup, the 14th elder brother of Tibetan spiritual leader the Dalai Lama, passed away at
the age of 97 due to age-related ailments at his residence in Kalimpong, West Bengal.
• Born in 1928 in Taktser village, located in the Amdo region of Tibet, Thondup was the second-
eldest among the Dalai Lama’s six siblings. ‘

Sam Nujoma, the first president of Namibia, passed away

• Sam Nujoma, the first president of independent Namibia, passed away at the age of 95 in
Windhoek, the country's capital.
• Independence Leader: Co-founded the South West Africa People's Organisation (Swapo) in the
1960s and played a crucial role in Namibia’s freedom from South African rule (1990).
• First President: Led Namibia as its first president from 1990 to 2005.
Acharya Satyendra Das, the chief priest of Ayodhya's Ram Janmabhoomi Temple, passed away
• Acharya Satyendra Das, chief priest of Ram Janmabhoomi Temple, Ayodhya, passed away at
SGPGIMS, Lucknow.
• He was born in 1938.
• Began his spiritual service at the age of 20 and was a member of the Nirvani Akhara for three
decades.

Padma Shri Awardee & celebrated folk singer Sukri Bommagowda Dies at 84 in Karnataka
● Sukri Bommagowda, a celebrated folk singer and Padma Shri awardee, passed away at 84 in

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 Important Monthly Current Affairs Capsule – February 2025

Badageri village, Uttara Kannada.

● She had been receiving medical care in Manipal before returning home, where she took her last
breath.
● Fondly known as Sukrajji, she was a revered figure in the Halakki Vokkaliga community.
● She played a crucial role in preserving Halakki folk heritage and had a repertoire of nearly 5,000
folk songs.
● Often described as a “walking encyclopedia” of Halakki culture.
Awards & Honors :
● Honored with the Padma Shri award in 2017 for her contributions to folk art and social causes.
● Received the Nadoja Award and the Rajyotsava Award from the Karnataka government.
Pratul Mukhopadhyay: A Musical Legend Passes Away at 83
● Pratul Mukhopadhyay, the renowned Bengali vocalist, composer, and lyricist, passed away at the
age of 83, leaving an indelible mark on Bengal’s music scene.
● Known for his soulful and revolutionary songs, Mukhopadhyay’s works like “Ami Banglar Gaan
Gai” and “Dinga Bhasao Re” became iconic, representing the cultural identity of West Bengal.
C Krishnaveni: Veteran Telugu Actor and Producer Passes Away at 102
● C Krishnaveni, a pioneering figure in Telugu cinema, passed away at the age
of 102 in Hyderabad due to age-related issues.
● She is celebrated for her immense contributions to the film industry, including introducing NT
Rama Rao (NTR) and Ghantasala Venkateswara Rao to the silver screen.
● Her legacy spans acting, singing, and film production.
● Born in West Godavari, Andhra Pradesh.
Former Mumbai captain and selector Milind Rege dies at 76
● Milind Rege, a stalwart of Mumbai cricket, passed away in Mumbai, Maharashtra due to cardiac
arrest at the age of 76.
Rege’s Cricketing Achievements:
● Five-time Ranji Trophy champion with Mumbai.
● Off-spinning all-rounder with 126 wickets in 52 first-class matches (1966-67 to 1977-78).
● Scored 1,532 runs at an average of 23.56.
Guru Mayadhar Raut, Odissi exponent who helped codify the artform, passed away
● Guru Mayadhar Raut, a pioneering figure in Odissi dance, passed away at 94 in Delhi on
February 22.
● His legacy includes systematising Odissi, deep knowledge of Natya Shastra, and serving

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 Important Monthly Current Affairs Capsule – February 2025

as head of the Odissi department at Bharatiya Kala Kendra.

● In 1971, when Kamani Auditorium was inaugurated by then President VV Giri, Raut was chosen
for the opening performance, marking a significant cultural moment.
● However, his eviction in 2022 from his Asiad Village home, allotted to him in the 1980s, became
a stark contrast to his contributions, as he and his daughter, Odissi teacher Madhumita, had to
move to a student’s basement.

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 Important Monthly Current Affairs Capsule – March 2025

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 Important Monthly Current Affairs Capsule – March 2025

S. No Topics Page No

1. IMPORTANT DAYS 03

2. NATIONAL NEWS 14

3. INTERNATIONAL NEWS 45

4. STATE NEWS 51

5. BANKING AND ECONOMY 65

6. BUSINESS NEWS 109

7. APPOINTMENTS & RESIGNATIONS 115

8. DEFENCE NEWS 137

9. SCIENCE & TECHNOLOGY 149

10. AWARDS AND HONOURS 155

11. MOUS AND AGREEMENT 165

12. ACQUISITIONS & MERGERS 177

13. RANKING AND INDEXES 184

14. SPORTS NEWS 190

15. OBITUARIES 206

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 Important Monthly Current Affairs Capsule – March 2025

IMPORTANT DAYS
Zero Discrimination Day 2025 – March 1
● Observed annually on March 1, Zero Discrimination Day promotes equality, dignity, and inclusion
for all individuals.
● Initiated by UNAIDS in 2014, the day addresses stigma and discrimination, particularly against
marginalized communities.2025 Theme: "We Stand Together"
● The initiative was launched by UNAIDS Executive Director Michel Sidibé on February 27, 2014,
in Beijing. It was later recognized by the United Nations (UN) and its member states to challenge
discriminatory laws and practices.

World Civil Defence Day: 1st March

● World Civil Defence Day 2025 is celebrated every year on March 1st, 2025.
● It is a day to celebrate the importance of civil defense and commemorate the people who have
sacrificed their lives for it.
● The World Civil Defence Day 2025 Theme is "Civil Defence, guarantee of security for the
population".
● In 1958, the International Association of Geneva Zones became the International Civil Defense
Organization (ICDO) and was given a new status as a non-governmental organization with objectives
such as establishing a liaison between national civil defense organizations.
● March 1 was established as World Civil Defense Day.

World Seagrass Day – March 1

● World Seagrass Day is observed annually on March 1 to highlight the ecological importance of
seagrass and promote conservation efforts.
● Seagrass plays a crucial role in maintaining marine biodiversity, stabilizing coastlines, and acting
as a major carbon sink.
● The United Nations General Assembly (UNGA) officially declared this day on May 22, 2022,
following a resolution proposed by Sri Lanka to emphasize the urgent need for seagrass conservation.

World Hearing Day: 3rd March

● World Hearing Day is announced to be celebrated on March 3rd, 2025.

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 Important Monthly Current Affairs Capsule – March 2025

● This year 2025, World Hearing Day theme is “Changing mindsets: Empower yourself to make ear
and hearing care a reality for all!”
● The World Health Organisation (WHO) created a holiday to raise awareness to avoid deafness in
2007 and the holiday was renamed from International Ear Care Day to World Hearing Day in 2016.

World Wildlife Day: 3rd March

● World Wildlife Day 2025 is celebrated on March 3rd, 2025.
● World Wildlife Day 2025 theme is “Wildlife Conservation Finance: Investing in People and
Planet”.
● Thailand proposed World Wildlife Day in the General Assembly of the UN on December 20,
2013, to create awareness among people about the world’s wild animals and plants.
● The United Nations General Assembly (UNGA) declared March 3, at its 68th session, the day of
the adoption of the Convention on International Trade in Endangered Species of Wild Fauna and Flora
(CITES).

National Safety Day: 4th March

● National Safety Day 2025 is celebrated on March 4th, 2025.
● The National Safety Day 2025 Theme is "Safety & Well-being Crucial for Viksit Bharat"
● On March 4, 1966, the National Safety Council of India (NSC) was registered by the Ministry of
Labour and Employment.
● The foundation day of the National Safety Council was decided to be observed as National
Safety Day in 1972.

International Disarmament and Non-Proliferation Awareness Day: March 5

● Every year on March 5, the world observes International Disarmament and Non-Proliferation
Awareness Day to promote global awareness and understanding of disarmament issues, particularly
among the youth.
● 2021: Resolution proposal introduced at the UNGA to establish the observance.
● December 7, 2022: UNGA officially declared March 5 as International Disarmament and Non-
Proliferation Awareness Day.
● March 5, 2023: First-ever observance of this global initiative.

National Dentist’s Day 2025: March 6th,2005

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 Important Monthly Current Affairs Capsule – March 2025

● March 6th is observed as National Dentist’s Day in India and worldwide.

● This day highlights the importance of oral health, encourages better dental care habits, and
acknowledges the dedication of dentists in maintaining healthy smiles.
● Hesy-Ra (2600 BC) – An Egyptian dentist and Chief of Dentists for Pharaoh Djooser, marking
one of the earliest known organized dental practices.
● 1530: The first book dedicated to dentistry, "The Little Medicinal Book for All Kinds of Diseases
and Infirmities of the Teeth" (Artzney Buchlein), was published in Germany.
● 1840: The University of Maryland School of Dentistry, the first-ever dental school, was founded
by Dr. Horace H. Hayden and Dr. Chapin A. Harris, establishing dentistry as a recognized medical
profession.

International Women’s Day: 8th March

● International Women’s Day 2025 is celebrated on 8th March 2025.
● In 1869, Susan B. Anthony and Elizabeth Cady Stanton started the National Women’s Suffrage
Association to fight for women's rights
● Clara Zetkin proposes a Women's Day celebration, and International Women's Day is celebrated
annually from this point forth, which is a day for Women in 1911..

CISF Raising Day: March 10

● CISF Raising Day 2025 is observed on March 10th, 2025.
● CISF was formed on March 10, 1969, under the CISF Act of the Parliament of India.
● It started with as many as 2,800 personnel for the better protection and security of industrial
undertakings in the country.

International Day of Women Judges Day – March 10

● The International Day of Women Judges, observed annually on March 10, highlights the vital role
of women in the judiciary.
● It promotes fairness, representation, and inclusivity in legal systems while encouraging more
women to pursue judicial careers.
● Declared by UNGA through Resolution 75/274 on April 28, 2021.
● Inspired by the UNODC Conference in Doha (Feb 24-27, 2020).
● First observed on March 10, 2022.

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 Important Monthly Current Affairs Capsule – March 2025

India Observes 54th National Safety Week from March 4-10, 2025
● India is marking the 54th National Safety Week from March 4 to March 10, 2025, with a focus on
promoting workplace safety, accident prevention, and employee well-being.
● The event is spearheaded by the National Safety Council (NSC) of India, which has been leading
safety awareness initiatives for over five decades.
● This year’s theme, ‘Safety & Well-being Crucial for Viksit Bharat’, highlights the importance of
safety standards in building a developed and progressive India.
Key Highlights of National Safety Week 2025
● Observance Period: March 4 – March 10, 2025
● National Safety Day: March 4, 2025 (marks the beginning of the campaign)
● Theme: ‘Safety & Well-being Crucial for Viksit Bharat’

National No Smoking Day: 12th March

● National No Smoking Day 2025 is observed on 12th March 2025 (the Second Wednesday of
March)
● The first National No Smoking Day was in 1984, and it now takes place on the second
Wednesday of March to encourage people all over the world to quit smoking.
● According to the researchers, this effort has proven very effective, and was observed that at least
one in ten people gave up smoking on National No Smoking Day.

International Day of Action of Rivers 2025: March 14

● International Day Of Action For Rivers is celebrated on 14th March 2025.
● The International Day of Action Against Dams and For Rivers, Water and Life was adopted by
the participants of the First International Meeting of People Affected by Dams in March 1997 in Curitiba,
Brazil, according to internationalrivers.org. River experts from 20 countries decided that March 14 will
be the 'Day of Action for Rivers'.

World Sleep Day 2025: March 14

● World Sleep Day 2025 is observed on the 14th March 2025.
● The World Sleep Day theme 2025 is "Make Sleep Health a Priority".
● World Sleep Day was founded by the World Sleep Day Committee of the World Sleep Day
Society in 2008.
● It is celebrated annually on the Friday before the northern hemisphere vernal equinox.

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 Important Monthly Current Affairs Capsule – March 2025

● World Sleep Day is observed annually on the Friday before the March Equinox.
● The first World Sleep Day was held on 14 March 2008.
World Sleep Day 2025: March 14
● On 14th March 2025, World Sleep Day 2025 is observed all over the world.
● Purpose of the day : World Sleep Day is an annual event, intended to be a celebration of sleep
and a call to action on important issues related to sleep, including medicine, education, social
aspects, and driving.
● It is organized by the World Sleep Day Committee of the World Sleep Society and aims to lessen
the burden of sleep problems on society through better prevention and management of sleep
disorders.
● The World Sleep Day theme 2025 is “Make Sleep Health a Priority”.

World Consumer Rights Day 2025: March 15

● World Consumer Rights Day is celebrated on 15th March 2025.
● World Consumer Rights Day was inspired by President John F Kennedy, who sent a special
message to the US Congress on 15th March 1962, in which he formally addressed the issue of
consumer rights.
● He was the first world leader to do so.
● The consumer movement first marked that date in 1983 and now uses the day every year to
mobilize action on important issues and campaigns

National Vaccination Day – March 16, 2025

● National Vaccination Day, also known as National Immunisation Day, is observed annually on
March 16 to highlight the importance of vaccination in public health.
● First observed in 1995, marking the administration of India’s first Oral Polio Vaccine (OPV).
● The day commemorates the success of the Pulse Polio Campaign, launched by the Government
of India to eradicate polio.
● Under this program, two drops of the oral polio vaccine were given to children aged 0 to 5 years.
● Due to sustained immunization efforts, India was declared polio-free in 2014 by the World Health
Organization (WHO).

Ordnance Factories Day 2025: March 18

● Ordnance Factories Day 2025 is observed on the 18th March 2025.

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● It is a national event celebrated annually on the 18th of March every year all over India.
● Purpose : To commemorate the foundation of the first Ordnance Factory in colonial India at
Cossipore near Kolkata in 1801.
● The East India Company of England, to increase their economic interest and political hold,
considered manufacturing military hardware as a vital element.
● The British authorities in 1775 established a Board of Ordnance in Fort William, Kolkata, which
marks the official beginning of the Army Ordnance in India.
● They further set up a gunpowder factory in 1787 at Ishapore, which started production in 1791.
● In 1801, the British established a Gun Carriage Agency at Cossipore, Kolkata and production
started on March 18, 1802.

International Day of Happiness 2025: March 20

● The International Day of Happiness 2025 is celebrated all over the world on March 20th.
● It is an international event observed annually all over the globe on 20th March every year.
● International Day of Happiness 2025 aims to celebrate happiness all over the world, inspiring
people to spread positivity, whether big or small, with others and encouraging each nation to
prioritize the happiness of its citizens.
● The General Assembly of the United Nations agreed with the proposal and officially founded the
International Day of Happiness in July 2012, with the occasion first being observed in 2013.

World Oral Health Day 2025: March 20

● Every year World Oral Health Day is observed globally and it is an annual event celebrated
on March 20th every year.
● Purpose : It focuses on highlighting the benefits of good oral health, spreads awareness about
oral diseases, and promotes the maintenance of oral hygiene
● This year, World Dental Federation (FDI) unveiled the three-year theme (2025 – 2026), “A Happy
Mouth is… A Happy Mind.”
● WOHD was first declared and originally celebrated on September 12, 2007, however, the
campaign came into action in 2013.
● The day March 20 is marked to celebrate the event to avoid conflicts with FDI World Dental
Congress that took place in September.

World Sparrow Day 2025: March 20

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 Important Monthly Current Affairs Capsule – March 2025

● World Sparrow Day, observed annually on March 20.

● Purpose : World Sparrow Day is a day designated to raise awareness of the House Sparrow and
other common birds in urban environments.
● It is an international initiative by the Nature Forever Society of India in collaboration with the Eco-
Sys Action Foundation(France) and numerous other national and international organizations
across the world.
● World Sparrow Day was first observed in 2010, marking the beginning of a campaign to save
these chirpy little birds. Started by the Nature Forever Society, it has now come to be celebrated
by conservationists from far and wide.
● The Nature Forever Society was founded by an Indian conservationist Mohammad Dilawar who
started his work helping house sparrows in Nashik.
● For his efforts, he was named ‘Heroes of Environment’ for 2008 by Time Magazine.

World Forestry Day: March 21

● On 21st March 2025, World Forest Day 2025 is celebrated all over the world.
● Purpose: It is an international event observed all over the world annually on March 21st every
year to ring a bell among society about the importance of forests and the scores of benefits that
are gained from them.
● The theme for World Forestry Day 2025 is ‘Forests and Food’.
● Previously, the 16th session of the Conference of the Food and Agriculture Organization (FAO)
voted to “World Forestry Day” in 1971.
● Then, from 2007 to 2012, the Center for International Forestry Research (CIFOR) held six Forest
Days.
● Partnering with Collaborative Partnership on Forest, 2011 was declared as the Year of Forests.
● On November 28, 2012, The United Nations General Assembly declared that March 21 shall be
celebrated as World Forest Day.

World Down Syndrome Day: March 21

● World Down Syndrome Day 2025 is observed all over the world on March 21st, 2025.
● It is a global event celebrated all over the world annually on March 21st every year.
● Purpose : The 21st day of March was selected to signify the uniqueness of the triplication of the
21st chromosome which causes Down syndrome.

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 Important Monthly Current Affairs Capsule – March 2025

● The United Nations (UN) yearly sets the theme for commemoration of World Down Syndrome
Day, Theme of WDSD 2025 is “Improve Our Support Systems”.
● In 2005, the UN’s general assembly decided that in fulfilling the UN’s Sustainable Development
Goal no one should be left behind and the persons with disabilities must also come forward to
help the UN in its targets of Agenda 2030.

World Poetry Day: March 21

● On 21st March 2025, the World Poetry Day 2025 is observed all over the world.
● It is a global event celebrated on March 21st every year all over the world in order to honor the
poets to continue to instill the tradition in newer generations.
● The earliest poetry is believed to have surfaced with the “Epic of Gilgamesh” sometime during
2000 B.C., but it is likely that poetry existed even before the spread of literacy.
● In the 14th Century, Sonnets were Created and Francesco Petrarca’s writings are some of the
most famous early ‘sonnets.’
● The day was proposed and adopted by UNESCO in 1999, on the occasion of its 30th General
Conference held in Paris to “give fresh recognition and impetus to national, regional and
international poetry movements.”
● On March 21st,2000 the first World Poetry day was celebrated

World Forestry Day: March 21

● On 21st March 2025, World Forest Day 2025 is celebrated all over the world.
● Purpose: It is an international event observed all over the world annually on March 21st every
year to ring a bell among society about the importance of forests and the scores of benefits
that are gained from them.
● The theme for World Forestry Day 2025 is ‘Forests and Food’.
● Previously, the 16th session of the Conference of the Food and Agriculture Organization (FAO)
voted to “World Forestry Day” in 1971.
● On November 28, 2012, The United Nations General Assembly declared that March 21 shall
be celebrated as World Forest Day.

World Down Syndrome Day: March 21

● World Down Syndrome Day 2025 is observed all over the world on March 21st, 2025.
● It is a global event celebrated all over the world annually on March 21st every year.

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 Important Monthly Current Affairs Capsule – March 2025

● Purpose : The 21st day of March was selected to signify the uniqueness of the triplication of
the 21st chromosome which causes Down syndrome.
● The United Nations (UN) yearly sets the theme for commemoration of World Down Syndrome
Day, Theme of WDSD 2025 is “Improve Our Support Systems”.

World Poetry Day: March 21

● On 21st March 2025, the World Poetry Day 2025 is observed all over the world.
● It is a global event celebrated on March 21st every year all over the world in order to honor the
poets to continue to instill the tradition in newer generations.
● The earliest poetry is believed to have surfaced with the “Epic of Gilgamesh” sometime during
2000 B.C., but it is likely that poetry existed even before the spread of literacy.
● In the 14th Century, Sonnets were Created and Francesco Petrarca’s writings are some of the
most famous early ‘sonnets.’
● The day was proposed and adopted by UNESCO in 1999, on the occasion of its 30th General
Conference held in Paris to “give fresh recognition and impetus to national, regional and
international poetry movements.”
● On March 21st,2000 the first World Poetry day was celebrated

World Water Day 2025: March 22

● World Water Day 2025 is celebrated all over the world on March 22nd, 2025.
● It is an international event observed annually on March 22nd every year all over the world
highlighting the importance of freshwater.
● The day is used to advocate for the sustainable management of freshwater resources.
● “Glacier Preservation” is the theme of World Water Day 2025, proposed by IGRAC.
● The idea for this international day goes back to 1992, the year in which the United Nations
Conference on Environment and Development in Rio de Janeiro took place.
● That same year, the United Nations General Assembly adopted a resolution by which 22
March of each year was declared World Day for Water, to be observed starting in 1993.

World Meteorological Day 2025: March 23

● World Meteorological Day is celebrated on March 23 every year all over the world and it is an
annual event.

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 Important Monthly Current Affairs Capsule – March 2025

● Purpose : The day is celebrated as the establishment of the World Meteorological

Organization (WMO), and it concentrates on the behavior of Earth’s atmosphere.
● This year World Meteorological Day is celebrated keeping the theme of “Closing the Early
Warning Gap Together.”
● On March 23rd, 1961, The first World Meteorological Day was observed, on the anniversary of
the organization’s creation.

World Tuberculosis (TB) Day 2025: March 24

● World Tuberculosis Day, observed on 24 March each year all over the world, is designed to
build public awareness about the global epidemic of tuberculosis and efforts to eliminate the
disease.
● It is commemorated to raise public awareness about the devastating health, social and
economic consequences of tuberculosis, and to step up efforts to end the global tuberculosis
epidemic.
● The theme of World TB Day 2025 – “Yes! We Can End TB: Commit, Invest, Deliver” –conveys
the urgent need to invest resources to ramp up the fight against TB and achieve the
commitments to end TB made by global leaders.

International Day for the Right to the Truth (March 24)

● The International Day for the Right to the Truth Concerning Gross Human Rights Violations
and for the Dignity of Victims is observed every year on March 24.
● Purpose : This day highlights the fundamental human right to the truth, particularly in cases
involving gross human rights violations and breaches of humanitarian law.

International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade 2025:
March 25
● On March 25th, International Day of Remembrance of the Victims of Slavery and the
Transatlantic Slave Trade 2025 is celebrated all over the world.
● Purpose : It is an international event that is celebrated annually on March 25th every year is
intended to inscribe the tragedy of the slave trade in the memory of all peoples.
● International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave
Trade is a United Nations international observance designated in 2007 to be marked on 25
March every year.

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 Important Monthly Current Affairs Capsule – March 2025

● The day honors and remembers those who suffered and died as a consequence of the
transatlantic slave trade, which has been called “the worst violation of human rights in history”,
in which over 400 years, more than 15 million men, women, and children were the victims.

International Day of the Unborn Child: March 25

● On March 25th, International Day of the Unborn Child 2025 is celebrated all over the world.
● It is an international event that is observed annually all over the world on March 25th each
year.
● Purpose : It is the commemoration of unborn fetuses observed as a day of opposition to
abortion.
● International Day of the Unborn Child was established by Pope John Paul II to coincide with
the Feast of the Annunciation and is officially recognized in several predominantly Catholic
countries.
● El Salvador was the first country to recognize a Day of the Right to Be Born, which was
established in 1993.

Purple Day for Epilepsy 2025: March 26

● On March 26th of this current year Purple Day of Epilepsy 2025 is observed all over the world.
● The main objective of celebrating this day is to show empathy towards people suffering from
epilepsy and to dispel myths prevalent in society regarding this condition.
What is Epilepsy?
● Epilepsy is a neurological disorder (a disease of the nervous system) in which abnormal
electrical activity in the brain causes seizures.
● It is a chronic condition that can affect people of any age.

World Theatre Day 2025: March 27

● World Theatre Day 2025 is celebrated on 27th March worldwide, marking its 60th
anniversary since its initiation in 1962 by the International Theatre Institute (ITI).
● This day highlights the importance of theatre arts in entertainment, education, and cultural
impact.
● Theme: While ITI does not officially designate a theme each year, the anticipated theme for
2025 is “Theatre and a Culture of Peace.”

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 Important Monthly Current Affairs Capsule – March 2025

NATIONAL NEWS
Sarbananda Sonowal unveils ‘One Nation-One Port’ to enhance efficiency with ease of doing business
● Union Minister for Ports, Shipping, and Waterways, Sarbananda Sonowal, announced key
reforms to modernize India’s maritime infrastructure and strengthen its role in global trade.
One Nation-One Port Process (ONOP): Standardizing Port Operations
Objective: Establish a unified operational framework for all major ports in India.
Sagar Ankalan: Logistics Port Performance Index (LPPI) 2023-24
● Purpose: Benchmark port performance to drive operational excellence.
Bharat Global Ports Consortium: Strengthening Trade Resilience
● Goal: Enhance port expansion and modernization through a public-private partnership model.
MAITRI App: Digitalizing Trade with AI & Blockchain
● Objective: Simplify international trade through AI and blockchain technology.
India Maritime Week: A Global Maritime Summit
● Event Dates: October 27 to 31, 2025, in Mumbai.

Aadhaar Good Governance Portal Launched to Streamline Authentication Requests

● The Ministry of Electronics and Information Technology (MeitY) has launched the Aadhaar Good
Governance Portal to simplify and expedite the approval process for Aadhaar authentication requests.
● This initiative aligns with the government’s vision to enhance ease of living, improve service
accessibility, and ensure transparent governance.
● Official Launch: Introduced by Shri S. Krishnan, Secretary, MeitY, alongside senior officials from
UIDAI and NIC.

UDAN Yatri Café Inaugurated at Chennai Airport to Enhance Passenger Convenience

● Union Minister for Civil Aviation, Shri Ram Mohan Naidu, inaugurated the UDAN Yatri Café at
Chennai Airport, marking the second such facility under this initiative.
● The first UDAN Yatri Café was launched at Netaji Subhas Chandra Bose International Airport,
Kolkata, on December 19, 2024, and received an overwhelmingly positive response.
● Due to strong traveler demand, this initiative is now being expanded nationwide.

10,000 Farmer Producer Organizations Achieved under Government’s Flagship Scheme

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 Important Monthly Current Affairs Capsule – March 2025

● The Central Sector Scheme for Formation and Promotion of 10,000 Farmer Producer
Organizations (FPOs) was launched by Prime Minister Narendra Modi on February 29, 2020, with a
budget of ₹6,865 crore till 2027-28.
● The initiative aims to empower small and marginal farmers by improving market access, financial
aid, and collective bargaining power.
● Recently, the 10,000th FPO was launched in Khagaria, Bihar, focusing on maize, banana, and
paddy. So far, 30 lakh farmers have been linked to FPOs, with 40% participation from women,
significantly boosting the agricultural economy.

Centre Plans to Reduce States' Tax Share to 40%:

● The Union government is considering a reduction in the share of central tax revenues allocated
to states, lowering it from the current 41% to at least 40%.
● This recommendation will be submitted to the Finance Commission of India, chaired by
economist Arvind Panagariya, which is expected to present its report by October 31, 2025, for
implementation from fiscal year 2026-27.
● The move, aimed at managing the Centre’s rising expenditure, may increase tensions between
the central and state governments.
● Additionally, the Centre is exploring restrictions on revenue-deficit grants to curb freebies and
debt waivers by state governments.

Indira Gandhi National Centre for the Arts Hosts Literary Discussion on Kailash Satyarthi’s
Autobiography Diyaslai
● The Indira Gandhi National Centre for the Arts (IGNCA), under the Ministry of Culture, in
collaboration with the Satyarthi Movement for Global Compassion, organized a literary discussion on
Diyaslai, the autobiography of Nobel Peace Prize laureate Kailash Satyarthi.
● The event focused on the book’s exploration of social justice, child rights, and global
compassion.
● Diyaslai is the autobiography of Kailash Satyarthi, a renowned child rights activist and Nobel
Peace Prize winner (2014).

India Launches ‘One Nation: One Port Process’ to Modernize Maritime Sector

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 Important Monthly Current Affairs Capsule – March 2025

● In a significant step towards enhancing India’s maritime infrastructure, the Union Ministry of
Ports, Shipping, and Waterways (MoPSW) has introduced transformative initiatives aimed at
modernizing ports, boosting global trade, and promoting sustainability.
● The ‘One Nation: One Port Process’ (ONOP) was launched to standardize and streamline port
operations across India.
● These initiatives, unveiled by Minister Sarbananda Sonowal, align with the vision of Atmanirbhar
Bharat and a Developed India by 2047, strengthening India’s position as a global maritime powerhouse.

Union Government Releases ₹699 Crore XV Finance Commission Grants to West Bengal for Rural
Development
● The Union Government has released funds under the Fifteenth Finance Commission (XV FC)
Grants for Rural Local Bodies (RLBs) in West Bengal for the Financial Year 2024–25.
The disbursed amount includes:
● ₹694.44 crore as the 2nd installment of Untied Grants
● ₹4.93 crore as the withheld portion of the 1st installment of Untied Grants
These funds are allocated for the development of:
● 21 District Panchayats
● 326 Block Panchayats
● 3220 Gram Panchayats
● Purpose of the XV FC Untied Grants
● The Untied Grants are intended to meet location-specific needs as identified by the Panchayati
Raj Institutions (PRIs). These grants can be used under the 29 subjects listed in the Eleventh Schedule
of the Constitution, with the exception of: Salaries, Establishment Costs

National Human Rights Commission and Ministry of External Affairs Organize Indian Technical and
Economic Cooperation Capacity Building Programme on Human Rights for Global South National
Human Rights Institutions
● The National Human Rights Commission (NHRC), India, in collaboration with the Union Ministry
of External Affairs (MEA), is conducting a six-day Executive Capacity Building Programme under the
Indian Technical and Economic Cooperation (ITEC) initiative.
● This programme is scheduled from 3rd to 8th March 2025 in New Delhi and is designed for
senior-level functionaries of National Human Rights Institutions (NHRIs) from 14 countries of the Global
South.

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 Important Monthly Current Affairs Capsule – March 2025

India Inaugurates First World Peace Center in Gurugram, Haryana

● India has taken a major step towards global peace and harmony with the inauguration of its first
World Peace Center in Gurugram, Haryana.
● Established by Ahimsa Vishwa Bharti under the guidance of Jain Acharya Lokesh, the center
aims to promote non-violence, spiritual awareness, human values, and universal brotherhood.

Indian National Centre for Ocean Information Services to Launch Two New Services on 26th
Foundation Day
● The Indian National Centre for Ocean Information Services (INCOIS), an autonomous body under
the Ministry of Earth Sciences (MoES), will launch two new services to mark its 26th Foundation Day.
● Hilsa Fishery Advisory (HiFA) Services – Aimed at supporting fisheries by providing advisories for
Hilsa fishing.
● INCOIS Global Ocean Reanalysis (IGORA) Version 1 – A new ocean reanalysis system
designed for global ocean studies.
India Advances Green Hydrogen Leadership with Hydrogen-Powered Truck Trials
● Union Minister for New and Renewable Energy, Shri Pralhad Joshi, reaffirmed India’s
commitment to becoming a global leader in green hydrogen production and utilization.
● Speaking at the launch of India’s first fleet of hydrogen-powered truck trials in New Delhi, he
highlighted the transformative role of the National Green Hydrogen Mission (NGHM) in ensuring energy
independence and carbon emission reduction.
● Under Prime Minister Shri Narendra Modi’s leadership, India has set ambitious targets to
establish itself at the forefront of the green energy transition.

India Launches Cities Coalition for Circularity (C-3) for Sustainable Urban Development
● India has launched the Cities Coalition for Circularity (C-3) on March 3, 2025, marking a major
step towards sustainable urban development.
● This multi-national alliance aims to promote city-to-city collaboration, knowledge-sharing, and
private sector partnerships to enhance waste management and resource efficiency.
● The initiative aligns with India’s Pro-Planet People (P-3) approach, focusing on the 3R principles
(Reduce, Reuse, Recycle) and circular economy practices.

Prime Minister Narendra Modi Inaugurates Vantara: A Landmark Wildlife Conservation Center in

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 Important Monthly Current Affairs Capsule – March 2025

Gujarat
● Prime Minister Narendra Modi recently inaugurated Vantara, an advanced animal rescue,
conservation, and rehabilitation center in Jamnagar, Gujarat.
● The event was attended by Reliance Industries Chairman Mukesh Ambani, Nita Ambani, Anant
Ambani, and Radhika Merchant.
● During his visit, PM Modi explored state-of-the-art facilities, interacted with rehabilitated animals,
and observed medical procedures at the center’s wildlife hospital.

India's First Comprehensive River Dolphin Survey Records 6,327 Dolphins in Ganga, Brahmaputra, and
Beas
● India’s first-ever comprehensive river dolphin population survey (2021–2023) has recorded a total
of 6,327 river dolphins, covering the Ganga and Brahmaputra river basins and the Beas river.
● Conducted by the Wildlife Institute of India (WII) in collaboration with state forest departments
and non-profit organizations, the findings were announced by Prime Minister Narendra Modi during the
7th National Board for Wildlife meeting at Gir National Park.
State-Wise Dolphin Distribution
● State ● Dolphin Count

● Uttar Pradesh ● 2,397

● Bihar ● 2,220

● West Bengal ● 815

● Assam ● 635

● Jharkhand ● 162

● Rajasthan & MP ● 95

● Punjab ● 3

India's Circular Economy to Generate $2 Trillion Market Value and 10 Million Jobs by 2050: Union
Minister Environment, Forest and Climate Change Bhupender Yadav
● India’s circular economy is projected to generate over $2 trillion in market value and create 10
million jobs by 2050, according to Union Minister Bhupender Yadav.

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 Important Monthly Current Affairs Capsule – March 2025

● At the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific, he highlighted
India’s shift from the traditional "take, make, waste" model to a sustainable reuse and recycle-based
system.
● India has also expressed interest in hosting the World Circular Economy Forum (WCEF) in 2026.

Ministry of Panchayati Raj to Launch Model Women-Friendly Gram Panchayats Initiative at National
Convention on March 5, 2025
● The Ministry of Panchayati Raj is set to launch the Model Women-Friendly Gram Panchayats
(MWFGP) initiative at a National Convention on March 5, 2025, at Vigyan Bhawan, New Delhi.
● This initiative aims to promote gender-sensitive governance at the grassroots level, ensuring
safety, inclusivity, and gender equality for women and girls in Gram Panchayats across India.
● The event is part of the Ministry’s International Women’s Day 2025 celebrations and will be
attended by Union Minister of State Prof. S. P. Singh Baghel (Ministry of Panchayati Raj & Fisheries,
Animal Husbandry and Dairying) and Union Minister of State Smt. Anupriya Patel (Ministry of Health &
Family Welfare).

NITI Aayog Launches Report on Women’s Financial Growth in India

● NITI Aayog has released a significant report titled “From Borrowers to Builders: Women’s Role in
India’s Financial Growth Story”.
● Launched by NITI Aayog CEO Shri B.V.R. Subrahmanyam, the report highlights a sharp increase
in women's financial engagement, with 27 million women actively monitoring their credit as of December
2024—a 42% rise from the previous year.
● The report, published by TransUnion CIBIL, Women Entrepreneurship Platform (WEP) of NITI
Aayog, and MicroSave Consulting (MSC), underscores the growing role of women in India's credit
ecosystem.

Kerala Chief Minister Pinarayi Vijayan Inaugurates Advance Cybersecurity Operations Centre for Kerala
Police
● Hon’ble Chief Minister of Kerala, Shri Pinarayi Vijayan, inaugurated the Advanced Cybersecurity
Operations Centre (SOC) for the Kerala Police Cyber Division via video conferencing.
● The initiative aims to enhance cybersecurity for police systems and critical infrastructure across the
state.

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 Important Monthly Current Affairs Capsule – March 2025

● The Centre for Development of Telematics (C-DOT), under the Department of Telecommunications
(DoT), Ministry of Communications, has developed TRINETRA, an AI-powered cybersecurity platform
designed to protect enterprises and critical sectors.
About Kerala:
● Chief Minister: Pinarayi Vijayan
● Governor: Rajendra Vishwanath Arlekar
● Capital: Thiruvananthapuram
● National Parks: Eravikulam National Park, Periyar Wildlife Sanctuary, Silent Valley National Park,
Parambikulam Tiger Reserve
● Wildlife Sanctuaries: Wayanad Wildlife Sanctuary, Idukki Wildlife Sanctuary, Chilika Lake Wildlife
Sanctuary

Supreme Court Declares Right Against Disability-Based Discrimination as Fundamental Right

● The Supreme Court has ruled that the right against disability-based discrimination must be
considered a fundamental right, reinforcing the constitutional principles of equality and non-
discrimination.
● The judgment came in response to petitions challenging certain provisions of the Madhya Pradesh
and Rajasthan Judicial Service Rules, which were found to be discriminatory.
● Eligibility of Visually Impaired Candidates: The Court ruled that visually impaired candidates are
eligible to participate in judicial service selection processes.

Indian President Droupadi Murmu Inaugurates ‘Vividhta Ka Amrit Mahotsav’ in New Delhi
● On March 5, 2025, President of India, Smt. Droupadi Murmu, inaugurated the second edition of
Vividhta Ka Amrit Mahotsav at Rashtrapati Bhavan, New Delhi.
● This festival is dedicated to showcasing India’s diverse cultural heritage, with each edition
highlighting a different region of the country.
● The 2025 edition of the festival spotlights the Southern states of Karnataka, Kerala, Tamil Nadu,
Telangana, and Andhra Pradesh, along with the Union Territories of Lakshadweep and Puducherry.

Aushadhi Diwas 2025: Promoting Affordable and Quality Medicines

● Every year, March 7th is observed as Jan Aushadhi Diwas to spread awareness about generic
medicines and promote their accessibility across India.

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● This initiative is a part of the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP), which
aims Jan to make quality medicines affordable.
● A week-long celebration is organized nationwide from March 1st to March 7th to commemorate
this occasion, focusing on the benefits and availability of low-cost medicines.
● The 2025 celebrations commenced with a flagship event in the National Capital Region (NCR),
highlighting the impact of the scheme.

World Sustainable Development Summit (WSDS) 2025: India Leads Global Climate Action
● Union Minister for Environment, Forest, and Climate Change, Bhupender Yadav, inaugurated the
World Sustainable Development Summit (WSDS) 2025 in New Delhi.
● The event, organized by The Energy and Resources Institute (TERI), focused on global
partnerships for accelerating sustainable development and climate solutions.
● The summit saw participation from key international leaders, including Guyana’s Prime Minister,
Brigadier Mark Phillip, and Brazil’s Minister of Environment and Climate Change, Marina Silva.
● Inaugurated by: Union Minister Bhupender Yadav.
● Theme: "Partnerships for Accelerating Sustainable Development and Climate Solutions."
● Organized by: The Energy and Resources Institute (TERI).

Festival of Letters 2025: India’s Grand Literary Celebration

● Sahitya Akademi, India’s premier literary institution under the Ministry of Culture, is set to host its
annual Festival of Letters 2025 at Rabindra Bhavan, New Delhi, from March 7 to March 12, 2025.
● The festival will be inaugurated by Union Minister for Culture and Tourism, Shri Gajendra Singh
Shekhawat, and will feature renowned literary figures.
● The prestigious Sahitya Akademi Awards in 23 languages will be presented, with Mahesh
Dattani, an eminent English playwright, as the chief guest.
● Upamanyu Chatterjee, a distinguished writer and scholar, will deliver the Samvatsar Lecture.

Prime Minister Shri Narendra Modi Launches Development Initiatives in Gujarat on International
Women’s Day
● On the occasion of International Women’s Day March 8, 2025, Prime Minister Narendra Modi
launched multiple developmental initiatives in Navsari, Gujarat, expressing gratitude for the presence
and blessings of thousands of women.

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 Important Monthly Current Affairs Capsule – March 2025

● He extended his best wishes to women across the nation, emphasizing the significance of
women-led development in India's progress.
● G-SAFAL (Gujarat Scheme for Antyodaya Families for Augmenting Livelihoods) – Financial
assistance and entrepreneurial training for SHG women from Antyodaya families.
● G-MAITRI (Gujarat Mentorship and Acceleration of Individuals for Transforming Rural Income) –
Support for startups that focus on rural livelihood enhancement.

Union Home Minister Shri Amit Shah Inaugurates and Lays Foundation Stone for Key Projects at
Brahmanand Vidyadham, Junagadh
● Union Home Minister and Minister of Cooperation Shri Amit Shah inaugurated and laid the
foundation stone for various projects at Brahmanand Vidyadham, Junagadh, Gujarat.
● Appreciated Shri Muktanand Bapu’s efforts in establishing an educational system from
Anganwadi to a medical college for 4,000 students.
● Major inaugurations: Darshan of Somnath Jyotirling, foundation stone of a sugar mill, and a
military school.
● Criticized past governments for delaying crucial reforms like Article 370 abrogation, Triple Talaq
abolition, Uniform Civil Code, CAA, and Ram Temple construction.

Karnataka Government Renames Bangalore City University & Announces Higher Education Reforms
● Karnataka Chief Minister Siddaramaiah announced that Bangalore City University would be
renamed Dr. Manmohan Singh Bengaluru University in honor of the former Prime Minister.
● Government Arts College and Government RC College will be integrated as constituent colleges
of the university.
● The announcement regarding the Bengaluru City University (BCU), formerly Bengaluru Central
University, a state varsity in Bengaluru formed in 2017 and renamed in 2020, came as the chief minister
presented his record 16th Budget on March 7, 2025.

Madhav National Park Declared as India’s 58th Tiger Reserve

● India has officially designated Madhav National Park in Madhya Pradesh as its 58th Tiger
Reserve.
● Announced by Union Environment Minister Bhupender Yadav, this development reinforces
Madhya Pradesh’s status as the ‘Tiger State’ of India, bringing its total number of tiger reserves to nine.
● Situated in Shivpuri district, within the Gwalior-Chambal region.

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 Important Monthly Current Affairs Capsule – March 2025

● Total area: 1,751 sq km

o Core Area: 375 sq km
o Buffer Zone: 1,276 sq km
● Strengthens wildlife corridors and promotes ecological balance.

Raksha Mantri Rajnath Singh Becomes First Defence Minister to Visit Institute of Aerospace Medicine,
Bengaluru
● Raksha Mantri Shri Rajnath Singh made history by becoming the first Defence Minister of India to
visit the Institute of Aerospace Medicine (IAM) of the Indian Air Force (IAF) in Bengaluru, Karnataka.
● His visit emphasized the critical role of aerospace medicine in India's defence and aviation
sectors.
● During the visit, he was briefed on IAM’s contributions to pilot training, aeromedical research, and
medical evaluation of Air Force personnel.
● He also inaugurated a new research project on space psychology, highlighting India’s growing
focus on space medicine as the country advances in both aerospace and space exploration.

Union Minister of Power and Housing & Urban Affairs Shri Manohar Lal Inaugurates GRIDCON 2025
● Union Minister of Power and Housing & Urban Affairs, Sh. Manohar Lal, inaugurated GRIDCON
2025 – The International Conference cum Exhibition on 9th March 2025 at IICC, Yashobhoomi, Dwarka,
New Delhi.
● He was joined by Union Minister of State for Power & New & Renewable Energy, Sh. Shripad
Yesso Naik.
● Organized by Power Grid Corporation of India Limited (POWERGRID) from 9th–11th March
2025, the event is being held under the patronage of the Ministry of Power in collaboration with CIGRE
India.

e-Shram Portal Facilitates Social Security Access for 30.68 Crore Unorganised Workers
● The e-Shram portal, launched by the Ministry of Labour and Employment on August 26, 2021,
aims to create a National Database of Unorganised Workers (NDUW).
● It provides unorganised workers with a Universal Account Number (UAN) and links them to
various social security and welfare schemes.
● As of March 3, 2025, over 30.68 crore unorganised workers have registered, with women
comprising 53.68% of the total registrations.

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 Important Monthly Current Affairs Capsule – March 2025

● The portal has introduced multilingual support, a mobile application, and integration with multiple
welfare schemes to improve accessibility.
● Additionally, the "e-Shram – One-Stop-Solution", launched on October 21, 2024, integrates
multiple welfare programs to provide a single access point for workers.

Government Enhances Gas-Based Power Generation for Better Efficiency

● Gas-based power plants in India are currently operating at a low Plant Load Factor (PLF),
affecting efficiency and power output.
● To improve the availability of natural gas for power generation, the Government of India has
placed Liquefied Natural Gas (LNG) under the Open General License (OGL) category, allowing power
plants to import LNG as per their requirements under mutually agreed commercial terms.
● In FY 2024-25 (April to January), power plants imported approximately 9.58 MMSCMD of gas to
meet the rising electricity demand.
● Additionally, the government has introduced competitive procurement schemes to ensure the
optimal use of gas-based power plants during peak demand periods.

Immigration and Foreigners Bill, 2025: Strengthening India’s Border Security

● Union Home Minister Amit Shah is set to introduce the Immigration and Foreigners Bill, 2025
during the ongoing Budget session of Parliament.
● This comprehensive legislation aims to modernize India’s immigration laws, replacing outdated
pre-Independence acts with stricter regulations, enhanced security measures, and streamlined foreign
management.

India Signs $248 Million Deal with Russia to Upgrade T-72 Tank Fleet
● India has finalized a $248 million agreement with Russia’s Rosoboronexport to procure 1,000
horsepower (HP) engines for its T-72 battle tanks.
● This strategic upgrade will enhance the maneuverability and combat effectiveness of the Indian
Army.
● The deal also includes technology transfer to India's Armoured Vehicles Nigam Ltd (AVNL) for
licensed production of these engines, boosting India's defense manufacturing capabilities

The National Archives of India Celebrates the 135th Foundation Day on March 11, 2025

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 Important Monthly Current Affairs Capsule – March 2025

● The National Archives of India (NAI) celebrated its 135th Foundation Day on March 11, 2025,
with a grand event featuring the inauguration of the “Indian Heritage through Architecture” exhibition by
Union Minister Shri Gajendra Singh Shekhawat.
● The event also saw the launch of the ‘Gyan Bharatam Mission’ and highlighted the world’s
largest digitization program, ensuring the preservation of India’s rich historical records.

Federation of Indian Export Organisations Launches SheTrades India Hub to Empower Women
Entrepreneurs
● The Federation of Indian Export Organisations (FIEO) launched the SheTrades India Hub, a
groundbreaking initiative aimed at empowering women entrepreneurs and strengthening India’s export
ecosystem.
● This initiative is part of a global effort led by the International Trade Centre (ITC) and is funded by
the UK Government's SheTrades Commonwealth+ Programme.
● With this launch, FIEO became the host institution for the 20th SheTrades Hub worldwide.
About FIEO
● Founded: 1965
● President: Ashvini Kumar
● Vice President: Israr Ahmed
● Director General & CEO: Dr. Ajay Sahai
● Headquarters: New Delhi

Water Sustainability Conference 2025: Key Highlights & Outcomes

● The Water Sustainability Conference 2025 was organized by the Bureau of Water Use Efficiency
(BWUE) under the National Water Mission (NWM), Ministry of Jal Shakti, in collaboration with The
Energy and Resources Institute (TERI).
● The event took place on March 12, 2025, at NDMC Convention Centre, New Delhi, focusing on
Industrial Water Use Efficiency.
● Union Minister of Jal Shakti, Shri C. R. Patil inaugurated the conference.
● Stressed the 4R approach (Reduce, Reuse, Recycle & Recharge) and introduced Respect as the
5th principle for sustainable water management.

India’s Participation in the 4th ‘No Money for Terror’ (NMFT) Conference in Munich,Germany

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 Important Monthly Current Affairs Capsule – March 2025

● The 4th ‘No Money for Terror’ (NMFT) Conference, held in Munich,Germany focused on global
efforts to combat terror financing.
● India, an active participant since 2018, reaffirmed its commitment to strengthening international
cooperation in fighting terrorism.
● The country emphasized evolving threats from digital financial networks and cross-border
transactions and urged global unity against terror financing.
Rise of Digital Transactions: Terrorists exploit digital finance and cross-border fund flows to transfer
assets.

Government of Jammu and Kashmir Launches ‘Watan Ko Jano’ Programme to Promote National
Integration Among Underprivileged Children
● The ‘Watan Ko Jano’ programme, launched by the Government of Jammu and Kashmir with
funding from the Ministry of Home Affairs, Government of India, aims to foster national
integration by providing underprivileged children (under 18 years) from government-run
homes exposure to India’s cultural, historical, and technological advancements.
● The initiative plays a crucial role in promoting unity, inclusivity, and patriotism among the youth of
Jammu and Kashmir.

Indian Government Establishes Inter-Ministerial-Industry Committee on Fintech (IMICF)

● To address regulatory concerns and develop a long-term strategy for the financial technology
(fintech) sector, the Indian government has set up an Inter-Ministerial-Industry Committee on
Fintech (IMICF).
● The committee, chaired by the Secretary of the Department of Financial Services (DFS), will
evaluate fintech’s impact on the banking and financial services industry (BFSI), identify obstacles
to growth, and study global best practices in regulation and governance.
Purpose of the Committee:
● Established to address regulatory challenges and devise a long-term fintech strategy.
● Examines fintech’s role in BFSI, obstacles to growth, and global regulatory best practices.

India Expands Nuclear Energy Projects with Jaitapur and Gorakhpur Plants
● The Indian government is advancing its nuclear energy initiatives with two key projects:
1. Gorakhpur Nuclear Power Project (Haryana)
● First nuclear project in North India, located in Fatehabad District, Haryana.

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 Important Monthly Current Affairs Capsule – March 2025

● Strengthens India’s nuclear infrastructure and regional expansion.

● Part of the broader vision to scale up nuclear power capacity.
2. Jaitapur Nuclear Power Plant (Maharashtra)
● Largest nuclear power plant in India once completed.
● Six reactors of 1,730 MW each, totaling 10,380 MW capacity.
● Will contribute 10% of India’s 100 GW nuclear energy goal by 2047.
3. Nuclear Liability and Financial Safeguards
● Civil Liability for Nuclear Damage (CLND) framework ensures operator responsibility.
● Insurance pool of ₹1,500 crore set up for financial protection.
● India aligned with global compensation mechanisms for added security.

Ministry of Electronics and Information Technology and Drone Federation of India Launch National
Innovation Challenge for Drone Application and Research Challenge to Advance Drone Innovation
● The Ministry of Electronics and Information Technology (MeitY), in collaboration with the Drone
Federation of India (DFI), has launched the National Innovation Challenge for Drone Application
and Research (NIDAR) under the ‘SwaYaan – Capacity Building for Human Resource
Development in Unmanned Aircraft Systems’
● The event was held at Electronics Niketan, with government representatives, industry experts,
and students participating via video conferencing.
About SwaYaan Initiative
● Launched by MeitY in July 2022, focusing on capacity building in drone technology.
● 42,560 participants targeted for training through formal & non-formal programs.
● 30 top institutions involved, including IISc, IITs, IIITs, NITs, CDAC, NIELIT.

WAVEX 2025: Empowering Startups in Media & Entertainment

● The Union Ministry of Information & Broadcasting (MIB) has launched WAVEX 2025, an initiative
to support startups in the media and entertainment (M&E) sector.
● Organized in collaboration with the Internet and Mobile Association of India (IAMAI), WAVEX
2025 will be held at the Jio World Convention Centre, Mumbai, from May 1-4, 2025, as part of
the World Audio-Visual Entertainment Summit (WAVES).

Indore to Establish India’s First Green Waste Processing Plant under Public-Private Partnership Model

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 Important Monthly Current Affairs Capsule – March 2025

● Indore is taking a pioneering step in sustainable waste management by setting up India’s first
green waste processing plant under the Public-Private Partnership (PPP) model.
● This initiative, launched under the Swachh Bharat Mission-Urban, aims to convert green waste
into valuable resources, promoting environmental sustainability and reducing pollution.
● The plant will process green waste, generate revenue for the Indore Municipal Corporation (IMC),
and produce wooden pellets as an alternative to coal.

Unique Identification Authority of India Partners with Sarvam AI to Enhance Aadhaar Services with AI
● The Unique Identification Authority of India (UIDAI) has partnered with Bengaluru-based Sarvam
AI, an indigenous Generative AI (GenAI) company, to enhance the user experience of Aadhaar
services.
● Effective March 18, 2025, this collaboration introduces AI-powered voice interactions, real-time
fraud detection, and multilingual support to make Aadhaar services more accessible, secure, and
efficient.
● This one-year agreement, extendable by another year, reflects UIDAI’s commitment to
technological advancements and user-centric innovations.
Ayushmann Khurrana Named ‘Fit India Icon’ by Union Sports Minister Mansukh Mandaviya
● Renowned Bollywood actor Ayushmann Khurrana has been officially designated as the ‘Fit India
Icon’ by Union Sports Minister Mansukh Mandaviya.
● The announcement was made during the inaugural ceremony of the Fit India Movement in New
Delhi.
● With this recognition, the 40-year-old actor has joined hands with Prime Minister Narendra Modi’s
Fit India Movement, an initiative that aims to inspire citizens to prioritize their health and well-
being.
● The Fit India Movement is a nationwide fitness campaign launched by Prime Minister Narendra
Modi on August 29, 2019.

Union Minister of Science and Technology, Dr. Jitendra Singh lays foundation stone for North East
Centre for Technology Application and Reach permanent campus
● Union Minister of Science and Technology, Jitendra Singh, laid the foundation stone for the North
East Centre for Technology Application and Reach (NECTAR) permanent campus
at Mawdiangdiang, Shillong.

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● NECTAR, an autonomous institute under the Department of Science and Technology (DST),
Government of India, plays a crucial role in using technology for the socio-economic
development of the Northeast region.
About NECTAR
● Established in 2014 under the Department of Science and Technology (DST).
● Focuses on technology-driven development in the Northeast region.
● Permanent campus foundation stone laid at Mawdiangdiang, Shillong.
Prime Minister’s Internship Scheme (PMIS) Mobile App Launched by Finance Minister Nirmala
Sitharaman
● Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman, launched a dedicated
mobile application for the Prime Minister’s Internship Scheme (PMIS) in New Delhi.
● This initiative aims to simplify the registration process, provide real-time updates, and enhance
accessibility for candidates seeking internship opportunities.

10th National Conference on Economics of Competition Law Held in New Delhi

● The Competition Commission of India (CCI) organized the 10th National Conference on
Economics of Competition Law in New Delhi.
● The event, held annually since 2016, brought together scholars, practitioners, and experts to
discuss key developments in competition law and market dynamics.
● Shri Harsh Malhotra, Minister of State (Corporate Affairs & Road Transport and Highways),
delivered the Keynote Address, emphasizing the role of competition law in ensuring fair markets.
● Ravneet Kaur, Chairperson, CCI, highlighted the need for regulators to adapt to technological
advancements such as Artificial Intelligence (AI) and algorithmic collusion to ensure market
integrity.
● India’s MSME sector plays a vital role in economic growth, contributing 80% of manufacturing
output, 45% of exports, and 30% of GDP.

India’s Participation in the 353rd International Labour Organisation Governing Body Meeting
● India actively participated in the 353rd Governing Body Meeting of the International Labour
Organisation (ILO) held in Geneva, Switzerland (March 10-20, 2025).
● The Indian delegation, led by Sumita Dawra, Secretary, Ministry of Labour and Employment,
highlighted India’s achievements in social protection, fair migration, living wages, and responsible
business conduct.

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 Important Monthly Current Affairs Capsule – March 2025

● India reaffirmed its commitment to labour welfare, social justice, and quality employment
generation, while supporting ILO’s key global initiatives.

IIT Madras Hyperloop Facility to Become the World’s Longest High-Speed Tube
● Union Minister Ashwini Vaishnaw visited the Hyperloop testing facility at IIT Madras.
● The 410-meter-long Hyperloop tube will be the world’s longest high-speed tube.
● The Indian Railways Ministry is providing funding and technical support.
● Integral Coach Factory (ICF) Chennai is developing electronic technology for the Hyperloop
system.
● Uses magnetically levitated pods traveling through a near-vacuum tube, reducing air resistance
and friction.
● Supported by Indian Railways, marking a major step in modern transportation infrastructure.
● ICF Chennai, known for Vande Bharat trains, is leading the development of advanced electronic
systems for Hyperloop.

Union Minister Attends IIT Madras’ Open House 2025 Innovation Exhibition
● Open House 2025 showcased cutting-edge projects in engineering, AI, data science, and
emerging technologies.
● V. Kamakoti, Director of IIT Madras, was present at the event.
● Vaishnaw engaged with students, faculty, and innovators, praising their research contributions.
● Five semiconductor fabrication units (fabs) are operational in India.
● India’s first domestically manufactured semiconductor chip to launch by the end of the year.
● Self-reliance in electronics manufacturing is crucial for telecom, defense, and AI industries.

First-Ever Fit India Carnival to Be Inaugurated at Jawaharlal Nehru (JLN) Stadium, New Delhi
● The first-ever Fit India Carnival will be inaugurated at Jawaharlal Nehru (JLN) Stadium, New
Delhi.
● The event, aligned with the Fit India Movement, is a three-day fitness and wellness festival aimed
at promoting a healthy and active lifestyle.
● Launch of Mascot, Logo, and Anthem for the Khelo India Para Games (Scheduled: March 20-27,
2025).

Lachit Barphukan Police Academy Inaugurated in Assam by Union Home Minister Amit Shah

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 Important Monthly Current Affairs Capsule – March 2025

● Union Home Minister and Minister of Cooperation Shri Amit Shah inaugurated the Lachit
Barphukan Police Academy in Dergaon, Assam.
● The event was attended by Assam Chief Minister Dr. Himanta Biswa Sarma, Union Minister
Sarbananda Sonowal, and other dignitaries.
Lachit Barphukan Police Academy
● Named after Assam’s legendary warrior who led the victory against the Mughals.
● Significance: Aims to be the top police training academy in India in the next five years.
● Total Project Cost: ₹1,050 crore (First phase completed at ₹167 crore).
● Equipped with modern training facilities to enhance law enforcement skills.
● Training Hub: Over 2,000 police personnel from Goa and Manipur have already trained here.
India’s Participation in the 353rd ILO Governing Body Meeting in Geneva
● The 353rd Governing Body meeting of the International Labour Organisation (ILO) is being held
in Geneva, Switzerland, from March 10 to March 20, 2025.
● The meeting brings together representatives from governments, workers, and employers to
discuss key issues related to labour and employment policies.
● India extended support for the UN-led Second World Summit for Social Development in Doha,
Qatar, emphasizing its role in reinforcing the social dimension of the 2030 Agenda.
● India has doubled its social protection coverage to 48.8%, exceeding the global average by 5%.
● Contribution of flagship welfare schemes was acknowledged:
o EPFO – 7.37 crore contributing members
o ESIC – 14.4 crore beneficiaries
o e-Shram Portal – 30.6 crore registered unorganized workers
o PM Jan Arogya Yojana – 60 crore beneficiaries
o Targeted PDS – 81.35 crore beneficiaries receiving food security
Ministry of Panchayati Raj Launches Key Initiatives for Women Empowerment in Panchayati Raj
Institutions
● The Ministry of Panchayati Raj has introduced two major initiatives—Sashakt Panchayat-Netri
Abhiyan and Model Women-Friendly Gram Panchayats (MWFGP)—to promote gender-sensitive
governance and strengthen the role of Women Elected Representatives (WERs) in Panchayati
Raj Institutions (PRIs).
1. Sashakt Panchayat-Netri Abhiyan
● A nationwide capacity-building initiative for WERs in PRIs.

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 Important Monthly Current Affairs Capsule – March 2025

● Objective: Strengthen leadership skills, decision-making abilities, and ensure active

participation in rural governance.
● Focus:
o Eliminating the “Mukhiya Pati” or “Sarpanch Pati” culture, ensuring that women
representatives exercise authority independently.
2. Model Women-Friendly Gram Panchayat (MWFGP)
● Aim: Establish at least one Model Women-Friendly Gram Panchayat in each district.
● Focus:
o Gender-sensitive and girl-friendly governance practices.
o Ensuring inclusivity in rural development policies.
3. Law Addressing Gender-Based Violence Primer
● A comprehensive guide on laws addressing gender-based violence and harmful practices.
● Target Audience: Panchayat representatives, helping them address gender-related issues
effectively.

PM Surya Ghar: Muft Bijli Yojana (PMSGMBY) – Key Highlights & Achievements
● The PM Surya Ghar: Muft Bijli Yojana (PMSGMBY) has reached a historic milestone of 10 lakh
rooftop solar installations as of 10th March 2025.
● Launched by Prime Minister Narendra Modi on 13th February 2024, the initiative aims to solarize
1 crore households by 2026-27, reducing electricity costs and promoting clean energy adoption.
Financial Support & Subsidy Details
● Collateral-free loan of ₹2 lakh at 6.75% interest rate from 12 Public Sector Banks.
● Subsidy Structure Based on Monthly Electricity Consumption:
o 0-150 units: ₹30,000 – ₹60,000 subsidy (1-2 kW plant).
o 150-300 units: ₹60,000 – ₹78,000 subsidy (2-3 kW plant).
o Above 300 units: ₹78,000 subsidy (above 3 kW plant).
● Subsidy transfer within 15 days via the National Portal.
State-Wise Performance
● Chandigarh and Daman & Diu achieved 100% rooftop solar targets on government buildings.
● Top Performing States: Rajasthan, Maharashtra, Gujarat, Tamil Nadu.

Indian Railways Joins Mission Amrit Sarovar to Enhance Water Conservation

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 Important Monthly Current Affairs Capsule – March 2025

● The Indian Railways has been integrated into the Union Government’s Mission Amrit Sarovar,
launched in April 2022, to combat water scarcity and enhance groundwater recharge across India.
● The initiative focuses on the construction and rejuvenation of 75 ponds per district, emphasizing
community participation (Jan Bhagidari) and climate resilience.
● By October 2024, over 68,000 ponds had been restored.
● In Phase 2, the Indian Railways will play a critical role in desilting, excavating, and constructing
water bodies near railway lines, while using the excavated material for railway embankments.
● Phase 2 Focus:
o Climate resilience and groundwater recharge.
o Community participation (Jan Bhagidari).
o Completion target: August 15, 2025.

Lok Sabha Passes Oilfield (Regulatory and Development) Amendment Bill, 2024
● The Lok Sabha passed the Oilfield (Regulatory and Development) Amendment Bill, 2024,
following its approval by the Rajya Sabha on 3rd December 2024.
● The Bill aims to modernize India’s legal framework for oil and gas exploration and production,
encouraging investment, increased production, and energy security.
● It aligns with PM Narendra Modi’s vision of Viksit Bharat by 2047.
Key Provisions of the Amendment Bill
● Separation of Mining and Petroleum Operations: Ends the outdated practice of clubbing mining
and petroleum operations under one framework.
● Single Permit System: Replaces multiple licenses with a unified Petroleum Lease for different
hydrocarbons.
● Encouragement of Advanced Technologies: Supports Carbon Capture Utilization and
Sequestration (CCUS) and Green Hydrogen Production.
● Infrastructure Sharing: Small operators can share infrastructure, improving project viability.
● Dispute Resolution Mechanism: Introduces an efficient dispute resolution system for global
investors.
● Higher Penalties for Violations:
o Penalty increased to ₹25 lakh.
o Continuous infractions: Fine up to ₹10 lakh per day.

PM-YUVA 3.0 Launched to Mentor Young Authors in India

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 Important Monthly Current Affairs Capsule – March 2025

● The Ministry of Education, Department of Higher Education launched PM-YUVA 3.0 (Prime
Minister’s Scheme for Mentoring Young Authors).
● This initiative aims to train young authors (below 30 years of age), promote reading and writing
culture, and project Indian literature on the global stage.
● It builds on the success of previous editions, which saw participation in 22 Indian languages and
English.
Introduction to PM-YUVA 3.0
● PM-YUVA 3.0 (Young, Upcoming, and Versatile Authors) aligns with the Prime Minister’s
vision of encouraging youth to engage with India’s cultural and intellectual heritage.
● The scheme nurtures young literary talents, enabling them to write on themes that define India’s
progress and historical legacy.
Scheme Details
● Launch Date: March 11, 2025
● Implementing Agency: National Book Trust (NBT), India
● Target Audience: Young authors below 30 years
● Languages: Books to be published in multiple Indian languages and English
● Mentorship Period: June 30, 2025 – December 30, 2025
● Selection Platform: mygov.in

Union Cabinet Approves 2% Dearness Allowance (DA) and Dearness Relief (DR) Hike for Central
Government Employees and Pensioners
● The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a 2% increase in
Dearness Allowance (DA) and Dearness Relief (DR) for central government employees and
pensioners, effective from January 1, 2025.
● With this revision, DA/DR rises from 53% to 55% of Basic Pay/Pension, benefiting over 1.15
crore people.

Government Launches ‘Sahkar’ Taxi Service Under Cooperative Model

● Union Home and Cooperation Minister Amit Shah has announced the launch of ‘Sahkar’,
a new app-based taxi service modeled on Ola and Uber, but operating under a cooperative
framework.

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 Important Monthly Current Affairs Capsule – March 2025

● The initiative, unveiled during the discussion on the Multi-State Cooperative Societies
(Amendment) Bill, 2023, aims to empower drivers as stakeholders rather than mere service
providers.

National Cooperative University – Strengthening Cooperative Education

● Alongside ‘Sahkar’, the Multi-State Cooperative Societies (Amendment) Bill, 2023 also
includes provisions for setting up a National Cooperative University.
Objectives of the University
● Provide education, diplomas, and certifications in cooperative management.
● Train professionals in cooperative governance and financial management.
● Develop future cooperative leaders, benefiting farmers, small entrepreneurs, and cooperative
businesses.

AI-Powered Multilingual Grievance Redressal System Launched for Centralized Public Grievance
Redress and Monitoring System
● In a significant step toward citizen-centric governance, the Department of Administrative
Reforms and Public Grievances (DARPG) has collaborated with Digital India Bhashini to
introduce an AI-powered, multimodal, multilingual grievance redressal system for
the Centralized Public Grievance Redress and Monitoring System (CPGRAMS).
● This initiative aligns with the Prime Minister’s vision of making governance more accessible,
inclusive, and responsive, enabling citizens to lodge grievances in 22 regional languages
using voice and text input.
● The system is set to be operational by July 2025.

India’s Social Security Expansion: Key Findings from International Labour Organization’s World Social
Protection Report 2024-26
● India has made significant progress in expanding social security coverage, as highlighted in
the International Labour Organization’s (ILO) World Social Protection Report (WSPR) 2024-26.
● The report states that India’s social protection coverage has doubled from 24.4% (2021) to
48.8% (2024), largely due to government welfare initiatives.
India’s Key Social Protection Initiatives
1. Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (AB-PMJAY)
● 39.94 crore Ayushman Cards issued as of March 26, 2025.

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 Important Monthly Current Affairs Capsule – March 2025

● Provides ₹5 lakh free health coverage per family at 24,810 empanelled hospitals
2. Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY)
● Provides free food grains to vulnerable populations.
● 80.67 crore people benefit from this scheme as of December 2024.
3. eShram Portal
● Launched on August 26, 2021, to register unorganised workers for social security benefits.
● 30.68 crore workers registered as of March 3, 2025.
● 53.68% of registered workers are women.
4. Atal Pension Yojana (APY)
● Launched on May 9, 2015, for pension benefits to unorganised sector workers.
● 7.25 crore beneficiaries enrolled as of December 31, 2024.
● Total accumulated corpus: ₹43,369.98 crore.
5. Poverty Reduction through Social Security Measures
● 24.8 crore people have escaped multi-dimensional poverty in the last decade.

India Becomes the World’s Second-Largest Tea Exporter in 2024

● India surpassed Sri Lanka to become the second-largest tea exporter globally, trailing
behind Kenya.
● Tea exports in 2024: 254 million kilograms (Mkg), up from 231 Mkg in 2023.
● Revenue generated: ₹7,112 crore, reflecting a significant boost to the tea industry.
● Kenya remains the top tea exporter, shipping over 500 Mkg in 2024.
Comparison of India’s Tea Exports (2023 vs. 2024)
Tea Export Global Major Revenue (₹
Year
(Mkg) Rank Competitor Crore)

Not
2023 231 3rd Sri Lanka
Specified

2024 254 2nd Kenya 7,112

India Hosts First Nano Electronics Roadshow to Boost Semiconductor Innovation
● The Ministry of Electronics and Information Technology (MeitY), in collaboration with IISc
Bengaluru, IIT Bombay, IIT Madras, IIT Delhi, IIT Kharagpur, and IIT Guwahati, successfully
hosted India’s first Nano Electronics Roadshow at the National Science Seminar Complex,
IISc Bengaluru.

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 Important Monthly Current Affairs Capsule – March 2025

● The event was inaugurated by Shri S. Krishnan, Secretary, MeitY, alongside Shri Abhishek
Singh, Additional Secretary, MeitY.

Ministry of Agriculture Launches Digital Crop Survey System for Real-Time Crop Data Collection via
Mobile Interface
● The Ministry of Agriculture and Farmers Welfare has introduced the Digital Crop Survey (DCS)
System to collect real-time crop-sown details directly from the field using a mobile interface.
● This initiative aims to improve accuracy in crop area estimation and enhance agricultural
production forecasting.
Data Privacy & Security Measures
Aspect Details

Consent-Based Data Collection Farmers’ data is collected only with their consent.

Data is shared only with authorized entities for specific

Restricted Data Sharing
purposes.

A federal structure ensures states retain control over

State Control
datasets.

Secure Transmission Uses encryption and secure APIs for data safety.

Security audits and risk assessments are conducted

Regular Audits
periodically.

Indian Government to Raise ₹8 Lakh Crore via Dated Securities in H1 FY26 to Address Fiscal Deficit
● The Indian government plans to raise ₹8 lakh crore through dated securities in the first half
(H1) of FY26 to bridge the fiscal deficit.
● This is part of the total gross market borrowing of ₹14.82 lakh crore estimated for FY26, as
announced by the Ministry of Finance.
● The borrowing will be conducted through multiple weekly auctions and will include ₹10,000
crore of Sovereign Green Bonds (SGrBs).

India’s Textile Sector Contributes 2% to GDP, Ranks 6th Globally with 3.9% Share in Textile Exports
● India’s textile industry plays a crucial role in the national economy, contributing 2% to
GDP and positioning the country as the 6th largest textile exporter with a 3.9% share in global
exports.

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 Important Monthly Current Affairs Capsule – March 2025

● The sector is projected to reach $350 billion by 2030, generating 3.5 crore jobs.
● Beyond traditional textiles, technical textiles are transforming the industry. These specialized
fabrics prioritize functionality over appearance and cater to diverse sectors such
as automobiles, construction, healthcare, and agriculture.
● National Technical Textiles Mission (NTTM)
● Launched in 2020-21, the NTTM aims to boost India’s technical textiles sector with a ₹1,480
crore outlay for five years (until 2025-26).

New Pamban Rail Bridge to be Inaugurated by Indian Prime Minister Narendra Modi on April 6, 2025
● Indian Prime Minister Narendra Modi will inaugurate the new Pamban rail bridge on April 6,
2025, coinciding with Ram Navami.
● The bridge, built at a cost of ₹531 crore, will improve connectivity between Ramanathapuram
and Rameswaram Island.
Old Pamban Rail Bridge
● The existing bridge is deteriorated and cannot be preserved entirely.
● It will be dismantled, with certain parts preserved as heritage.
Rameswaram Railway Station Redevelopment
● The project is expected to be completed by September 2025.

India Post Releases Commemorative Stamp Honoring Mata Karma

● The Department of Posts, Government of India, has issued a Commemorative Postage
Stamp in honor of Mata Karma, a revered saint, social reformer, and devotee of Lord Krishna,
on her 1009th Birth Anniversary.

3rd Edition of Sourcex India 2025 Inaugurated at Yashobhoomi Convention Centre, New Delhi, with
Support from Federation of Indian Export Organisations and Ministry of Commerce & Industry
● The Federation of Indian Export Organisations (FIEO), with support from the Ministry of
Commerce & Industry, Government of India, inaugurated the 3rd edition of Sourcex India
2025 at the Yashobhoomi Convention Centre, New Delhi.
Key Highlights of the Event
● Chief Guest: Shri Santosh Kumar Sarangi, Director General of Foreign Trade (DGFT),
Government of India
● Organizers: FIEO (Federation of Indian Export Organisations)

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 Important Monthly Current Affairs Capsule – March 2025

● Support: Ministry of Commerce & Industry, Government of India

● Venue: Yashobhoomi Convention Centre, New Delhi
● Global Participation: 150+ international buyers from 45+ countries

Over 15,000 Jan Aushadhi Kendras opened nationwide under Pradhan Mantri Bhartiya Janaushadhi
Pariyojana
● Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) has expanded to 15,057 Jan
Aushadhi Kendras (JAKs) across India as of February 28, 2025.
● The initiative provides affordable generic medicines, ensuring lower-cost healthcare for the
public.
● Top States with JAKs:
o Uttar Pradesh – 2,658 outlets
o Kerala – 1,528 outlets
o Karnataka – 1,425 outlets
o Tamil Nadu – 1,363 outlets

India’s First Export of Anthurium Flowers from Mizoram to Singapore

● In a boost to India’s floriculture exports, especially from the North Eastern Region (NER), the
first consignment of Anthurium flowers from Aizawl, capital town of Mizoram, has made its
way to
● Stakeholders:
o Growers: Zo Anthurium Growers Cooperative Society (Aizawl).
o Exporter: IVC Agrovet Pvt. Ltd.
o Importer: Veg Pro Singapore Pte. Ltd.
● Government Support:
o Joint initiative by APEDA(Agricultural and Processed Food Products Export
Development Authority) and Mizoram Horticulture Department.
o Follows the International Buyer-Seller Meet (IBSM)in Aizawl (December 2024),
involving buyers from 9 countries (UAE, Russia, Nepal, etc.).

India Levies Anti-Dumping Duty on 5 Chinese Products to Safeguard Local Markets

● To protect domestic industries from the influx of cheap imports, India has imposed anti-
dumping duties on 5 Chinese products, including vacuum flasks and aluminium foil.

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 Important Monthly Current Affairs Capsule – March 2025

● These levies, based on the Directorate General of Trade Remedies’

(DGTR) recommendations, aim to ensure fair competition and safeguard local manufacturers.

Yuge Yugeen Bharat National Museum – A Landmark Cultural Initiative

● The North and South Blocks in New Delhi are set to house the new national museum, named
as Yuge Yugeen Bharat National Museum.
● Objective:To showcase India’s thousands-year-old civilizational and cultural heritage, linking
the past, present, and future.
● Initiative:Part of the Central Vista Redevelopment Project.
● International Collaboration:
o Agreement signed (19th December 2024) with France Museums Development for
technical cooperation.
● Current Status:
o Feasibility studyunderway—timeline and budget will be finalized afterward.
● Vision:A modern, world-class museum celebrating India’s timeless legacy while envisioning a
progressive future.

Samarthya 2025: National Competition on Corporate Rescue Strategies Inaugurated by Indian Institute
of Corporate Affairs
● The Indian Institute of Corporate Affairs (IICA) inaugurated Samarthya: National Competition
on Corporate Rescue Strategies 2025, at its Manesar, Haryana
● The event, held on March 22-23, 2025, provides students with a dynamic platform to develop
innovative corporate turnaround strategies for financially distressed businesses.

Khadi and Village Industries Commission Organizes Special Exhibition & Toolkit Distribution Program in
Delhi
● The Khadi and Village Industries Commission (KVIC), under the Ministry of Micro, Small and
Medium Enterprises (MSME), Government of India, organized a special exhibition and toolkit
distribution program at ‘Khadi and Village Industries Bhawan’, Sector-3, Rohini, Delhi.
● Chief Guest: Shri Manoj Kumar (KVIC Chairman).
● Other Dignitaries:
o Shri Nagendra Raghuvanshi (KVIC North Zone Member).
o Shri Manoj Kumar Singh (KVIC East Zone Member).

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 Important Monthly Current Affairs Capsule – March 2025

Government Revises Micro, Small, and Medium Enterprises Investment & Turnover Criteria (Effective
April 1, 2025)
● The Government of India has revised the classification criteria for Micro, Small, and Medium
Enterprises (MSMEs) by increasing investment and turnover limits, effective April 1, 2025.
● This move aims to enhance business growth, expand MSME benefits, and improve access to
credit and incentives.
● Revised MSME Classification : Purpose: To facilitate ease of doing business, broaden MSME
eligibility, and boost economic growth.
● Investment limits increased by 2.5 times; turnover limits doubled.
Previous Revised Previous Revised
Enterprise
Investment Investment Turnover Turnover
Category
Limit Limit Limit Limit

Micro ₹1 crore ₹2.5 crore ₹5 crore ₹10 crore

₹100
Small ₹10 crore ₹25 crore ₹50 crore
crore

₹250 ₹500
Medium ₹50 crore ₹125 crore
crore crore

East Coast Railway Becomes First in India to Achieve 250 Million Tons Freight Loading
● East Coast Railway (ECoR) has created history by becoming the first railway zone in India to
achieve 250 million tons (MT) of originating freight in the financial year 2024-25.
● This milestone was achieved on March 21, 2024, 11 days ahead of schedule, reaffirming
ECoR’s dominance as the highest freight-loading railway zone in India
Global Funding for Women-Led Tech Startups Declines in 2024
● Global funding for women-led tech startups fell to $29.6 billion in 2024, marking an 11%
drop from $33.1 billion in 2023 and a 21% decline from $37.5 billion in 2022.
● Despite this downturn, India ranked second globally in all-time funding for women-led startups,
following the United States, as per a Tracxn report.
Global Overview
● Decline in Funding:
o 2024: $29.6 billion

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 Important Monthly Current Affairs Capsule – March 2025

o 2023: $33.1 billion

o 2022: $37.5 billion
● Women-led startups accounted for 11.7% of total global funding in 2024.
● Global women-led startup ecosystem: Over 69,000 companies, raising $309 billion to date.
● 45 funding rounds exceeded $100 million in 2024 (15% increase from 2023, but 40% drop
from 2022).
Major Deals and Investors
● Top 3 Companies with $1 Billion+ Funding in 2024:
o OpenAI
o Abound
o Wiz
Sector-Wise Investment Trends
● Enterprise Applications received the highest funding: $16.1 billion (8% decline from 2023).
● Top sectors in all-time funding:
o Retail: $7.8 billion
o EdTech: $5.4 billion
o Enterprise Applications: $5 billion
India’s Position in Women-Led Startup Funding
● 2nd globally in all-time funding for women-led tech startups: $26.4 billion raised.
● Highest-funded year: 2021 ($6.3 billion).
● India’s global share in 2022: 15.18% ($5 billion out of global funding).
● India ranked 3rd in 2024 in annual funding, after the US and UK, contributing 3.96% of global
women-led startup funding.
City-Wise & Industry Trends in India
● Top Cities for Women-Led Startup Funding:
o Bengaluru
o Mumbai
o Delhi NCR

CABINET APPROVALS:
a) Revised National Program for Dairy Development (NPDD) Approved by Union Cabinet
● The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the Revised
National Program for Dairy Development (NPDD), a Central Sector Scheme, with an

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 Important Monthly Current Affairs Capsule – March 2025

additional funding of ₹1000 crore, raising the total budget to ₹2790 crore for the 15th Finance
Commission cycle (2021-22 to 2025-26).
1. Objectives & Key Features
● Enhancing Dairy Infrastructure: Expansion of milk procurement, processing capacity, and
quality control systems.
● Market Access & Pricing: Helps farmers get better market reach and pricing through value
addition.
● Supply Chain Efficiency: Strengthens logistics, leading to higher farmer incomes and rural
development.
b) Revised Rashtriya Gokul Mission (RGM) Approved by Union Cabinet
● The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the Revised
Rashtriya Gokul Mission (RGM) as a Central Sector component under the Development
Programmes scheme.
● The mission has been allocated an additional ₹1000 crore, bringing the total budget to ₹3400
crore for the 15th Finance Commission cycle (2021-22 to 2025-26).
1. Key Additions in the Revised RGM
New Activities Introduced:
1. Heifer Rearing Centres
o 35% capital cost assistance for setting up 30 housing facilities with a total capacity
of 15,000 heifers.
2. High Genetic Merit (HGM) IVF Heifers
o 3% interest subvention on loans taken by farmers from milk unions, banks, and
financial institutions for purchasing HGM IVF heifers.
c) Approval for Namrup-IV Ammonia-Urea Complex in Assam
● The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the setting
up of a new Brownfield Ammonia-Urea Complex at Brahmaputra Valley Fertilizer Corporation
Limited (BVFCL), Namrup, Assam.
1. Key Features of the Namrup-IV Project
● Annual Production Capacity: 12.7 Lakh Metric Tonnes (LMT) of Urea.
● Project Cost: ₹10,601.40 crore.
● Funding Structure: Debt-Equity Ratio of 70:30.
● Implementation Mode: Joint Venture (JV) under the New Investment Policy, 2012 (amended
on 7th October 2014).

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 Important Monthly Current Affairs Capsule – March 2025

● Commissioning Timeline: 48 months.

2. Equity Participation in the JV
Stakeholder Equity Share

Government of Assam 40%

Brahmaputra Valley Fertilizer Corporation Ltd. (BVFCL) 11%

Hindustan Urvarak & Rasayan Ltd. (HURL) 13%

National Fertilizers Ltd. (NFL) 18%

Oil India Ltd. (OIL) 18%

● BVFCL’s equity will be in lieu of tangible assets.
● NFL’s equity participation of 18% has been approved in relaxation of the Department of Public
Enterprises (DPE) guidelines.
3. Additional Cabinet Decisions
● Formation of an Inter-Ministerial Committee (IMC) to oversee the establishment of Namrup-IV
Fertilizer Plant.
d) Incentive Scheme for Promotion of Low-Value BHIM-UPI Transactions (P2M) – FY 2024-25
● The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the Incentive
Scheme for Promotion of Low-Value BHIM-UPI Transactions (Person to Merchant – P2M) for
the financial year 2024-25.
● Total Outlay: ₹1,500 crore.
● Implementation Period: April 1, 2024 – March 31, 2025.
● Eligibility: Transactions up to ₹2,000 for small merchants
2. Incentive Structure
Category Up to ₹2,000 Above ₹2,000

Small Merchants 0.15% Incentive No Incentive

Large Merchants No Incentive No Incentive

● Incentive Rate: 0.15% of the transaction value for small merchants.
● Zero MDR (Merchant Discount Rate) across all transactions.
3. Disbursement Mechanism
● 80% of the admitted claim amount will be disbursed without conditions.
● Remaining 20% will be subject to the following conditions:
o 10%: If the technical decline rate of the acquiring bank is less than 0.75%.

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 Important Monthly Current Affairs Capsule – March 2025

o 10%: If the system uptime of the acquiring bank is above 99.5%.

e) Approval of 6-Lane Greenfield High-Speed National Highway from JNPA to Chowk
● The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Shri
Narendra Modi, has approved the construction of a 6-lane access-controlled Greenfield High-
Speed National Highway from JNPA Port (Pagote) to Chowk (Maharashtra).
● Total Length: 219 km
● Total Capital Cost: ₹4,500.62 crore
● Mode of Implementation: Build, Operate, and Transfer (BOT) Model

INTERNATIONAL NEWS
Prime Minister Modi to attend Mauritius National Day as chief guest on March 12, 2025
● Prime Minister Narendra Modi will embark on a State Visit to Mauritius from March 11 to 12, 2025,
at the invitation of Mauritian Prime Minister Dr. Navinchandra Ramgoolam.
● The Ministry of External Affairs stated that PM Modi will attend Mauritius’ National Day
celebrations on March 12 as the Chief Guest, marking his first visit to the island nation since 2015.
● India and Mauritius share deep-rooted historical, cultural, and people-to-people ties.
● The visit is framed within India's broader strategic vision—‘Security and Growth for All in the
Region’ (SAGAR)—which highlights India’s commitment to the Indian Ocean region.
About Mauritius:
● Capital: Port Louis
● Currency: Mauritian Rupee (MUR)
● President: Dharam Gokhool
● Prime Minister: Navinchandra Ramgoolam

International Seabed Authority (ISA)’s 30th Session Begins in Jamaica to Debate Deep-Sea Mining
Rules
● The 30th Session of the International Seabed Authority (ISA) commenced on March 17, 2025, in
Jamaica.
● Nearly 170 member states and the European Union convened to discuss deep-sea mining
regulations.
● This meeting comes amid increasing pressure from mining industries eager to exploit seabed
resources.

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 Important Monthly Current Affairs Capsule – March 2025

● The ISA’s primary responsibilities include developing a mining code and protecting the marine
environment from potential damage due to mining activities.
About International Seabed Authority (ISA)
● The ISA is an independent organization formed in 1994.
● It was created when the United Nations Convention on the Law of the Sea (UNCLOS) became
effective in 1982.
About Deep-Sea Mining
● Deep-sea mining involves extracting minerals from the ocean floor at depths greater than 200
metres.
● Resources targeted include copper, nickel, cobalt, and rare earth elements.

India, New Zealand resume talks on free trade agreement after nearly a decade
● India and New Zealand have announced the resumption of Free Trade Agreement (FTA)
negotiations, a decade after talks stalled in
● Discussions on the Comprehensive Economic Cooperation Agreement (CECA) began in April
2010 to enhance trade in goods, services, and investment.
● However, negotiations halted after nine rounds in 2015.
● Both nations have now agreed to relaunch talks, aiming for a comprehensive and mutually
beneficial agreement.
● The decision precedes a bilateral meeting between Prime Minister Narendra Modi and New
Zealand PM Christopher Luxon, who is on a four-day visit to India.
● The announcement followed a March 16, 2025, meeting between India’s Commerce and Industry
Minister Piyush Goyal and New Zealand’s Minister for Trade and Investment Todd McClay.

Ancient Desert Crossroads: Faya Site Reveals Humanity’s 210,000-Year Desert Adaptation
● Sharjah’s Faya Palaeolandscape has been nominated for UNESCO World Heritage status,
showcasing 210,000 years of human resilience and adaptation while serving as a vital trade link
between Arabia and India.
● The 29,085-hectare site, located 55 km from the Arabian Gulf and the Gulf of Oman, features
the Faya Range, a 20-km limestone ridge that acts as a natural barrier between the Rub’ al-Khali
desert and the Dhaid-Madam Plain.

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 Important Monthly Current Affairs Capsule – March 2025

United Nations chief announces new ‘UN80 Initiative’ to improve efficiencies amid shrinking resources,
uncertainty
● United Nations Secretary-General Antonio Guterres has introduced the ‘UN80 Initiative’ to
improve efficiency and make the 80-year-old global organization more cost-effective.
● The United Nations General Assembly has approved a $3.72 billion budget for 2025, with the US
being the largest contributor, covering 22% of the UN’s regular budget and 27% of its
peacekeeping operations.
● India has been a consistent and timely contributor, having paid $37.64 million toward the 2025
UN Regular Budget in January.
About United Nations (UN):
● Established: 24 October 1945
● Headquarters: New York City, USA
● Member States: 193 countries
● Secretary-General (2025): António Guterres

India, Malaysia to co-chair 14th ASEAN Defence Ministers’ Meeting-Plus Experts Working Group
meeting on Counter-Terrorism in New Delhi
● India and Malaysia will co-chair the 14th ASEAN Defence Ministers’ Meeting-Plus (ADMM-Plus)
Experts Working Group (EWG) on Counter-Terrorism, which will be held in New Delhi from
March 19 to 20, 2025.
● This marks the first time India is leading the Counter-Terrorism EWG.
● Defence Secretary Rajesh Kumar Singh will deliver the keynote address during the opening
ceremony on March 19, 2025.
● Delegations from 10 ASEAN member countries—Brunei, Cambodia, Indonesia, Lao PDR,
Malaysia, Myanmar, Philippines, Vietnam, Singapore, and Thailand—along with eight dialogue
partners—Australia, New Zealand, South Korea, Japan, China, the USA, and Russia—will
participate.
● Timor Leste and the ASEAN Secretariat will also be present.
● The meeting will launch the 2024-2027 cycle of activities under the Counter-Terrorism EWG.
● The ADMM-Plus platform facilitates defence cooperation among ASEAN nations and their
dialogue partners.

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 Important Monthly Current Affairs Capsule – March 2025

● It currently focuses on seven priority areas: counter-terrorism, maritime security, humanitarian

assistance and disaster management, peacekeeping operations, military medicine, humanitarian
mine action, and cyber security.

The 1st Joint Working Group (JWG) meeting on Agriculture between India and Chile was held in virtual
mode.
● The meeting was co-chaired by:
o Ajeet Kumar Sahu, Joint Secretary (IC), Department of Agriculture & Farmers Welfare,
India.
o Gabriel Layseca, Director, Department of International Affairs, Bureau of Agricultural
Studies and Policies (ODEPA), Chile.

India Participates in United Nations Commission on the Status of Women 69th Session, Reaffirms
Commitment to Women’s Empowerment
● The Government of India, led by Union Minister for Women and Child Development, Smt.
Annpurna Devi, actively participated in the 69th Session of the United Nations Commission on
the Status of Women (UNCSW) at the UN Headquarters, New York (March 10-21, 2025).
● India emphasized its commitment to gender equality, inclusive development, and international
cooperation for women’s empowerment.
India’s Delegation & Leadership
● Led by Annpurna Devi, Union Minister for Women and Child Development (WCD).
● Delivered India’s National Statement at the Ministerial Forum.
● Promoted a whole-of-government and whole-of-society approach for women’s empowerment.

International Monetary Fund Gives Initial Approval for $2 Billion Loans for Pakistan
● Pakistan and the International Monetary Fund (IMF) have successfully concluded negotiations,
leading to a staff-level agreement, as reported by the media.
● The agreement provides Pakistan access to up to $1 billion under the Extended Fund Facility
(EFF) and introduces a new 28-month Resilience and Sustainability Facility (RSF), granting
an additional $1.3 billion (SDR 1 billion).
● The IMF delegation, led by Nathan Porter, held discussions in Karachi and Islamabad from 24
February to 14 March 2025, later continuing negotiations virtually.

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 Important Monthly Current Affairs Capsule – March 2025

● Pending approval by the IMF Executive Board, Pakistan is set to receive $1.0 billion (SDR 760
million) under the EFF, bringing total disbursements under the programme to $2.0 billion.
About International Monetary Fund (IMF):
● The International Monetary Fund (IMF) is a global financial institution that promotes
international monetary cooperation, financial stability, and economic growth while providing
financial assistance to member countries facing balance of payments issues.
● Founded Year: 1944
● Headquarters: Washington, D.C., United States
● Managing Director: Kristalina Georgieva
● Members: 191 countries

33rd Meeting of the Working Mechanism for Consultation & Coordination on India-China Border Affairs
● The 33rd meeting of the Working Mechanism for Consultation & Coordination (WMCC) on
India-China Border Affairs was held in Beijing.
● The Indian delegation was led by Gourangalal Das (Joint Secretary for East Asia), while the
Chinese delegation was headed by Hong Liang (Director General, Boundary & Oceanic
Affairs Department, Chinese Ministry of Foreign Affairs).
● The meeting was positive and constructive, reviewing the situation along the Line of Actual
Control (LAC).
● Both sides emphasized the importance of maintaining peace & stability along the border for
strengthening bilateral relations.
● Reviewed decisions from the 23rd Special Representatives (SR) meeting, held in Beijing
(December 2024).

New Insurance Plan and Digital Literacy Programme Launched For Indian Workers In Dubai
● A new Group Protection Insurance scheme for blue-collar workers in the UAE has been
introduced.
● Facilitated by the Consulate General of India, the scheme has been launched by Dubai
National Insurance (DNI) and its marketing partner Nexus Insurance Brokers LLC.
● Building upon the Life Protection Plan (LPP) introduced in March 2024, this scheme aims to
enhance financial security for Indian workers in the UAE.
● Effective from April 1, 2025, it provides coverage for natural and accidental death, permanent
disability, and repatriation expenses.

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 Important Monthly Current Affairs Capsule – March 2025

● The sum assured is AED 35,000 per person, with an affordable annual premium of AED 32.

Indonesia to join New Development Bank of BRICS: President Mr Prabowo Subianto

● Indonesia’s president Mr Prabowo Subianto announced that his country will join the New
Development Bank (NDB), a multilateral bank developed by member nations of the economic
bloc BRICS.
● The NDB is a multilateral development bank established in 2014 by BRICS, a grouping
founded by Brazil, Russia, India, China, and South Africa, with Indonesia joining this January
2025.
● The BRICS group also includes Brazil, Russia, South Africa, China, India, Egypt, Ethiopia,
Iran and the United Arab Emirates.
● The bank is headquartered in Shanghai with regional centers in Africa.
● The bank has an initial capital of $100 billion, funded by the founding countries.
● Currently, BRICS accounts for 40% of the world’s population and 35% of global GDP, making
it a significant player on the geopolitical stage.
● Its membership continues to grow, with 13 nations recently joining as partner countries.

North Korea successfully test-fires surface-to-air missile

● North Korea has successfully test-fired its latest surface-to-air missile system, as reported by
state media.
● The test was conducted under the supervision of North Korean leader Kim Jong-un, who
oversaw the launch and expressed satisfaction with its performance.
● The missile system, recently put into full-scale production, was tested to evaluate
its comprehensive performance, and North Korea claimed it demonstrated fast response
capabilities and high reliability.
● Photos released by North Korean state media showed the missile hitting a target and
exploding.
● Kim Jong-un praised the research and defense industry teams for strengthening the
country’s military capabilities.

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 Important Monthly Current Affairs Capsule – March 2025

International Seabed Authority (ISA)’s 30th Session Begins in Jamaica to Debate Deep-Sea Mining
Rules
● The 30th Session of the International Seabed Authority (ISA) commenced on March 17, 2025,
in Jamaica.
● Nearly 170 member states and the European Union convened to discuss deep-sea mining
regulations.
● This meeting comes amid increasing pressure from mining industries eager to exploit seabed
resources.
● The ISA’s primary responsibilities include developing a mining code and protecting the marine
environment from potential damage due to mining activities.
International Seabed Authority (ISA)
● The ISA is an independent organization formed in 1994.
● It was created when the United Nations Convention on the Law of the Sea (UNCLOS) became
effective in 1982.
● Its main role is to manage mining and related activities on the international seabed (ocean
floor beyond national borders).
● The ISA ensures that mining activities benefit all of humanity while protecting marine
ecosystems.
About Deep-Sea Mining
● Deep-sea mining involves extracting minerals from the ocean floor at depths greater than 200
metres.
● Resources targeted include copper, nickel, cobalt, and rare earth elements.
● A November 2024 study identified over 30 critical concerns regarding the draft mining code.
● In 2021, Nauru Ocean Resources Inc. triggered the “two-year rule”, requiring the ISA to adopt
regulations within two years of notification.
● As of January 2025, the ISA has granted 30 exploration contracts since 2001.
● India holds two contracts in the Indian Ocean and has applied for additional contracts.
● European nations and Norway are also actively involved in sponsoring mining contracts.

STATE NEWS
British-Era Foy Lake Renamed ‘Varun Sagar’ in Latest Update

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 Important Monthly Current Affairs Capsule – March 2025

● In a recent update of events and through the source Rajasthan Patrika, it has been announced
that the name of Foy lake which is a 132 years old constructed by the British government has now
changed and will be named Varun Sagar.
● This announcement was made by the cabinet minister on 12th of February, 2025.
● Foy Sagar Lake that was created to overcome the famine situation in 1862.
● This lake is a man made lake and was constructed in a flat pan shape amidst the Aravalli Hills.
● Foy Sagar Lake was constructed by an English man named Foy.
About Rajasthan:
● Capital: Jaipur
● Governor: Haribhau Bagade
● Chief Minister: Bajan Lal Sharma
● National Parks: Ranthambhore National Park, Sariska Tiger Reserve, Keoladeo National Park
(Bharatpur Bird Sanctuary), Desert National Park
● Wildlife Sanctuaries: Kumbhalgarh Wildlife Sanctuary, Darrah Wildlife Sanctuary, Ranthambore
Wildlife Sanctuary, Bassi Wildlife Sanctuary
Chhattisgarh government presents ₹1.65 lakh crore budget for FY26, hikes funds for welfare schemes
● The Chhattisgarh government presented a ₹1,65,000 crore budget for the fiscal 2025-
26, proposing substantial funding for welfare schemes related to women, food security, while allocating
₹10,000 crore for boosting farm prosperity.
● The Dearness Allowance (DA) for state government employees has been increased to 53%.
● Mahtari Vandan Yojana: Increased allocation to ₹5,500 crore for financial assistance to women.
● Krishak Unnati Yojana: ₹10,000 crore to boost agricultural prosperity.
● Pradhan Mantri Awas Yojana (Gramin): ₹8,500 crore for rural housing.
● Mukhyamantri Khadyann Sahayata Yojana: ₹4,500 crore for food security.
● Free Electricity for Farmers: ₹3,500 crore allocated for free electricity to agricultural pumps up to
5 HP.
● New Road Construction: ₹2,000 crore under the Public Works Department.
● Rural Connectivity:i. PMGSY (Pradhan Mantri Gram Sadak Yojana): ₹845 crore for rural roads.
● ii. PM-JANMAN Sadak Nirman Yojana: ₹500 crore to connect Particularly Vulnerable Tribal
Groups (PVTG) habitations.
● ₹5 crore allocated for a survey of the Metro Rail line between Raipur and Durg.
About Chhattisgarh:
• Chief Minister: Vishnu Deo Sai

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 Important Monthly Current Affairs Capsule – March 2025

• Governor: Ramen Deka

• Capital: Raipur
• National Parks: Indravati National Park, Kanger Valley National Park, Guru Ghasidas (Sanjay)
National Park
• Wildlife Sanctuaries: Achanakmar Wildlife Sanctuary, Badalkhol Wildlife Sanctuary, Udanti Wildlife
Sanctuary, Sitanadi Wildlife Sanctuary
Bihar government tables Rs 3.17 trillion Budget, proposes women-centric schemes
● The Nitish Kumar government in Bihar tabled the ₹3.17 trillion Budget for 2025-26, focusing on
women-centric schemes and job creation.
● Deputy Chief Minister Samrat Choudhary, who holds the finance portfolio, stated that the Budget
was ₹38,169 crore higher than the previous year.
● ₹60,964 crore for the education sector (up from ₹54,605 crore in 2024-25).
● Women’s empowerment initiatives:
o "Mahila Haat" (women’s marketplace) in Patna.
o "Pink toilets" in all districts.
o "Pink buses" (with women drivers and conductors) in major cities.
o 33% reservation for women in the state transport corporation.
o "Kanya Vivah Mandaps" in all panchayats to support poor rural families.

Jharkhand government tables Rs 1.45 lakh crore budget for FY 2025-26, freebies get highest allocation
● Finance Minister Radha Krishna Kishore tabled the annual Budget of Rs 1, 45,400 crore for FY
2025-26 in the Jharkhand Assembly, an increase of about 13 per cent than last year.
● Jharkhand Mukhyamantri Maiyan Samman Yojana (JMMSY): ₹13,363 crore (9.19% of total
budget)
o Provides ₹2,500/month to women aged 18-49.
● Free Electricity Scheme: ₹5,006 crore (3.44% of total budget)
● Total "Freebies" (JMMSY + Free Electricity): ₹18,369 crore (12.63% of total budget)
About Jharkhand:
Capital: Ranchi
• Chief Minister: Hemant Soren
• Governor: Santosh Gangwar
• National Parks: Betla National Park
• Wildlife Sanctuaries: Palamau Wildlife Sanctuary, Hazaribagh Wildlife Sanctuary, Dalma Wildlife

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 Important Monthly Current Affairs Capsule – March 2025

Sanctuary, Koderma Wildlife Sanctuary, Mahuadanr Wolf Sanctuary, Topchanchi Wildlife Sanctuary

Mizoram Launches Voluntary Pension Scheme to Tackle ‘Proxies’ Menace

● The Mizoram government has introduced the Special Voluntary Retirement Scheme across the
state.
● Under this scheme, any employee unable to perform official duties due to health, domestic, or
other debilitating issues can apply for voluntary pension.
● This scheme covers all regular government employees governed by CCS (Pension) Rules, 1972,
who have not completed 20 years of service.
● Additionally, employees under the Mizoram New Defined Contributory System, 2010 are also
eligible.
● According to Mizoram CM Lalduhoma, this scheme provides affected employees with an
honourable exit while addressing the widespread issue of government employees hiring proxies.
About Mizoram:
• Capital: Aizawl
• Chief Minister: Lalduhoma
• Governor: Vijay Kumar Singh
• National Parks: Murlen National Park
• Wildlife Sanctuaries: Dampa Wildlife Sanctuary, Ngengpui Wildlife Sanctuary, Tawi Wildlife Sanctuary,
Lengteng Wildlife Sanctuary, Thorangtlang Wildlife Sanctuary

Kerala Assembly passes unanimous resolution against auction of mineral blocks

● The Kerala Legislative Assembly unanimously passed a resolution urging the central government
to withdraw the 2023 amendment to the Offshore Areas Mineral Development and Regulation Act,
2002, which permits private participation in deep-sea mineral exploration and mining.
● The Assembly expressed concerns that such activities could devastate marine resources, harm
biodiversity, and threaten the livelihoods of millions of fisherfolk in the state.

West Bengal to deploy AI in Kanyashree scheme by International Women’s Day

● The West Bengal government is planning to leverage AI in its flagship Kanyashree program
aimed at reducing drop outs among girls in schools.

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 Important Monthly Current Affairs Capsule – March 2025

● On the occasion of International Women's Day (March 8) , this initiative is being planned to
counter problems emerging from applicants making mistakes in submitting long application forms
online.
● Currently each applicant has to upload 30-35 information details on the portal including name,
address, bank account among others.
● Inadvertently, mistakes crop up, including wrong bank accounts and IFSC codes, and even 2
girls ending up with the same account numbers.
About West Bengal:
● Chief Minister: Mamata Banerjee
● Governor: C. V. Ananda Bose
● Capital: Kolkata
● National Parks: Sundarbans National Park, Jaldapara National Park, Buxa National Park,
Gorumara National Park, Neora Valley National Park
● Wildlife Sanctuaries: Sajnekhali Wildlife Sanctuary, Bibhutibhushan Wildlife Sanctuary,
Bethuadahari Wildlife Sanctuary, Ballavpur Wildlife Sanctuary, Haliday Island Wildlife Sanctuary

Assam Cabinet Names Upcoming Electronics Hub as Ratan Tata Electronic City
● The Assam state cabinet has decided to name the upcoming Electronics City in Jagiroad as
Ratan Tata Electronic City, recognizing Ratan Tata’s contributions to the state’s development.
● This decision highlights the Tata Group’s longstanding role in Assam’s industrial growth.
● The announcement follows Tata Sons chairman N Chandrasekaran’s remarks at the Advantage
Assam 2.0 Investment Summit in February, where he emphasized Tata’s deep-rooted connection with
the state.
● Tata Electronics is investing ₹27,000 crore to establish India’s first indigenous semiconductor
assembly and test facility in the state.
About Assam:
● Chief Minister: Himanta Biswa Sarma
● Governor: Lakshman Prasad Acharya
● Capital: Dispur
● National Parks: Kaziranga National Park, Manas National Park, Dibru-Saikhowa National Park
● Wildlife Sanctuaries: Pobitora Wildlife Sanctuary, Orang National Park, Bura-Chapori Wildlife
Sanctuary, Nameri Wildlife Sanctuary

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 Important Monthly Current Affairs Capsule – March 2025

Uttarakhand Government Approves Ropeways for Kedarnath and Hemkund Sahib

● The Union cabinet, led by Prime Minister Narendra Modi, has approved the construction of
ropeways at Kedarnath and Hemkund Sahib, Uttarakhand with a total budget of ₹6,811 crore.
● These projects aim to improve pilgrimage accessibility and reduce travel time.
● The Kedarnath ropeway will span 12.9 km, starting from Sonprayag with a stop at Gaurikund, while
the Hemkund Sahib ropeway will cover 12.4 km, beginning at Govindghat with a stop at Ghangaria.
● Currently, the journey to Kedarnath takes 8–9 hours on foot, but with the ropeway, it will be reduced
to just 36 minutes.
About Uttarakhand:
● Chief Minister: Pushkar Singh Dhami
● Governor: Gurmit Singh
● Capital: Dehradun
● National Parks: Jim Corbett National Park, Nanda Devi National Park, Rajaji National Park,
Gangotri National Park, Valley of Flowers National Park
● Wildlife Sanctuaries: Kedarnath Wildlife Sanctuary, Askot Wildlife Sanctuary, Binsar Wildlife
Sanctuary, Govind Wildlife Sanctuary, Sonanadi Wildlife Sanctuary, Nandi Devi Wildlife Sanctuary

In Karnataka Budget, Chief Minister Siddaramaiah unveils Rs 70,000 crore infrastructure overhaul for
Bengaluru
● Karnataka CM Siddaramaiah announced projects worth over ₹70,000 crore to improve
Bengaluru’s road infrastructure.
● Bruhat Bengaluru Mahanagara Palike (BBMP) Grant Increase: The annual grant for BBMP will
be increased from ₹3,000 crore to ₹7,000 crore to tackle infrastructure issues.
● Special Purpose Vehicle (SPV): A new SPV will be created to fast-track development projects
and ensure effective fund utilization.
● Tunnel Road Projects: Deputy CM D.K. Shivakumar's tunnel road projects were approved, with a
₹19,000 crore government guarantee for the ₹40,000 crore project.
About Karnataka:
● Capital: Bengaluru
● Chief Minister: Siddaramaiah
● Governor: Thaawarchand Gehlot
● National Parks: Bandipur National Park, Nagarhole National Park, Kudremukh National Park,
Anshi (Kali) National Park, Bannerghatta National Park

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 Important Monthly Current Affairs Capsule – March 2025

● Wildlife Sanctuaries: Dandeli Wildlife Sanctuary, Bhadra Wildlife Sanctuary, Ranganathittu Bird
Sanctuary, Brahmagiri Wildlife Sanctuary, Pushpagiri Wildlife Sanctuary, Cauvery Wildlife Sanctuary

Punjab Government Launches ‘Project Hifazat’ to Protect Women and Children from Violence
● Dr. Baljit Kaur, Punjab’s Social Security, Women, and Child Development Minister, launched
‘Project Hifazat’ to provide immediate assistance to women and children affected by violence.
● The initiative includes an integrated emergency helpline system with Women and Child Helpline
(181) and Child Helpline (1098) operating round the clock.
● Urgent cases will be directly transferred to the Emergency Response Support System (ERSS-
112) for immediate intervention.
● The project enhances coordination between Punjab Police, the Department of Social Security,
Women and Child Development, and the Department of Health and Family Welfare to ensure effective
response and victim support.

Mahila Samriddhi Yojana: Delhi government approves scheme to give ₹2,500 to eligible women
● The Delhi government, led by Chief Minister Rekha Gupta, has approved the Mahila Samriddhi
Yojana in a cabinet meeting held on March 8, 2025.
● Announcing the decision on International Women’s Day, CM Gupta stated that the ruling
Bharatiya Janata Party (BJP) has fulfilled its election promise of providing ₹2,500 per month to eligible
women in the national capital.
● A provision of ₹5,100 crore has been made in the Delhi Budget 2025-26 for the implementation
of the scheme.
● A committee, led by the Chief Minister, has been formed to oversee the execution of the scheme.
About Delhi:
● Chief Minister: Rekha Gupta
● Lieutenant Governor: Vinai Kumar Saxena
● Capital: New Delhi
● Wildlife Sanctuaries: Asola Bhatti Wildlife Sanctuary, Yamuna Biodiversity Park, Aravalli
Biodiversity Park

Assam to launch first satellite ‘ASSAMSAT’ for governance and development

● Assam is set to launch its first satellite, ‘ASSAMSAT,’ marking a major step in utilizing space
technology for governance and development.

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 Important Monthly Current Affairs Capsule – March 2025

● Finance Minister Ajanta Neog announced the initiative during the 2025-26 state budget
presentation in the Assembly.
● The satellite will enhance the flow of critical data for better management of key socio-economic
initiatives, benefiting agriculture, disaster management, infrastructure, border security, and law
enforcement.
● The project is being developed in collaboration with IN-SPACe under the Union Ministry of
Space, showcasing Assam’s commitment to advanced technology in public services.
● To encourage innovation and research, the Assam government plans to involve college and
university students in experimental satellite development.

Andhra Pradesh government to install 58-foot statue of Potti Sriramulu in Amaravati

● Andhra Pradesh Chief Minister N Chandrababu Naidu announced on March 16, 2025, that a 58-
foot statue of Potti Sriramulu will be installed in Amaravati, honoring his 58-day hunger strike for
the creation of Andhra State.
● The announcement was made on Potti Sriramulu’s birth anniversary.
● The statue and a memorial will be completed before his next birth anniversary.
● His native house in Padamatipalli will be converted into a museum.
About Andhra Pradesh:
● Chief Minister: N. Chandrababu Naidu
● Governor: S. Abdul Nazeer
● Capital: Amaravati
● National Parks: Sri Venkateswara National Park, Papikonda National Park
● Wildlife Sanctuaries: Coringa Wildlife Sanctuary, Pulicat Lake Bird Sanctuary, Kambalakonda
Wildlife Sanctuary, Rollapadu Wildlife Sanctuary, Krishna Wildlife Sanctuary

Telangana Chief Minister A. Revanth Reddy launches ‘Rajiv Yuva Vikasam’ to boost self-employment
for youth
● Telangana Chief Minister A. Revanth Reddy launched the ‘Rajiv Yuva Vikasam’ scheme on
the Assembly premises.
● The scheme provides self-employment loans to SC, ST, BC, and Minority
● The scheme aims to create self-employment opportunities for five lakh unemployed youth across
Telangana.
● The government has allocated ₹6,000 crore for the initiative.

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 Important Monthly Current Affairs Capsule – March 2025

● Eligible beneficiaries can receive up to ₹3 lakh to establish self-employment units.

● Application scrutiny begins next month, and loan sanction documents will be issued on June 2nd
(Telangana Formation Day).
● Loans up to ₹1 lakh will receive an 80% subsidy.
● Loans up to ₹2 lakh will receive a 70% subsidy.
● Loans up to ₹3 lakh will receive a 60% subsidy.
About Telangana:
● Capital: Hyderabad
● Governor: Jishnu Dev Varma
● Chief Minister: Anumula Revanth Reddy
● National Parks: Kasu Brahmananda Reddy National Park, Mrugavani National Park, Mahavir
Harina Vanasthali National Park
● Wildlife Sanctuaries: Kawal Wildlife Sanctuary, Pocharam Wildlife Sanctuary, Manjira Wildlife
Sanctuary

Maharashtra’s Rural Local Bodies Receive over ₹620 Crore XV Finance Commission Grants
● The Union Government has released the Fifteenth Finance Commission (XV FC)
Grants for Rural Local Bodies in Maharashtra for FY 2024–25.
● The release includes the 2nd installment of Untied Grants amounting to ₹611.6913 crore and
the withheld portion of the 1st installment amounting to ₹8.4282 crore.
● The funds are allocated to 4 District Panchayats, 40 Block Panchayats, and 21,551 Gram
Panchayats in the state.
● The grants are recommended by the Ministry of Panchayati Raj and Ministry of Jal Shakti and
released by the Ministry of Finance in two installments per year.
● The Central Finance Commission (CFC) Grants empower Panchayati Raj Institutions to address
local development needs.
● The initiative aligns with PM Narendra Modi’s vision of “Viksit Panchayat Se Viksit Bharat”,
strengthening grassroots democracy and accelerating rural transformation.
About Maharashtra:
● Chief Minister: Devendra Fadnavis
● Governor: C. P. Radhakrishnan
● Capital: Mumbai

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 Important Monthly Current Affairs Capsule – March 2025

● National Parks: Tadoba National Park, Sanjay Gandhi National Park, Chandoli National Park,
Gugamal National Park, Navegaon National Park
● Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Koyna Wildlife Sanctuary, Karnala Bird
Sanctuary, Melghat Wildlife Sanctuary, Radhanagari Wildlife Sanctuary
About 15th Finance Commission:
● The Fifteenth Finance Commission (XV-FC or 15-FC) was constituted in November 2017 to
provide recommendations on tax devolution and fiscal matters for the five-year period starting
April 1, 2020.
● The commission is chaired by Nand Kishore Singh, since March 2014.
● Full-time members of the commission include Ajay Narayan Jha, Ashok Lahiri, and Anoop Singh,
with Ramesh Chand serving as a part-time member.
● The commission was constituted by the Government of India with ceremonial approval from the
President and was officially notified in The Gazette of India.

Nagaland Launches Agricultural Best Practices to Boost Rural Entrepreneurship

● The North East Center for Technology Application and Reach (NECTAR) has set up a Common
Facility Center (CFC) in Kukidolong village in Chumukedima district, Nagaland to promote rural
entrepreneurship.
● This is part of a Farmers Mobilization and Awareness Program initiative launched in Nihoto
village in Dimapur district, Nagaland.
● Representatives from eight villages participated in this initiative under the PM-DevINE project.
● The Consortium for Training, Research and Development, Guwahati and the Entrepreneurs
Associate, Kohima jointly conducted the training session.
About Nagaland:
● Chief Minister: Neiphiu Rio
● Governor: La. Ganesan
● Capital: Kohima
● National Parks: Intanki National Park
● Wildlife Sanctuaries: Fakim Wildlife Sanctuary, Puliebadze Wildlife Sanctuary, Rangapahar
Wildlife Sanctuary

Telangana Assembly passes Bills granting 42% reservations for Backward Classes

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 Important Monthly Current Affairs Capsule – March 2025

● The Telangana Legislative Assembly passed two Bills on March 17, 2025, enhancing Backward
Classes (BCs) reservations to 42% in:
o Education and government employment
o Local governance (rural and urban bodies)
● Strengthens social justice and political representation for Backward Classes.
● Ensures legal and technical clarity to avoid past hurdles in BC reservation implementation.
New Bills Passed
1. Telangana Backward Classes, Scheduled Castes and Scheduled Tribes (Reservation of Seats in
Educational Institutions and of Appointments for Posts in Services under the State) Bill, 2025
2. Telangana Backward Classes (Reservation of Seats in Rural and Urban Local Bodies) Bill, 2025

Tamil Nadu Budget 2025 Highlights: Fiscal deficit is estimated to reduce to 3% of GSDP in FY26
● Tamil Nadu Chief Minister M K Stalin-led DMK government presented the Budget 2025-26 in the
Assembly, making major allocations for welfare schemes, including the fare-free bus travel
scheme for women.
● Finance Minister Thangam Thenarasu highlighted that 65% of women now use free bus services,
saving an average of ₹888 per month.
● The government allocated ₹3,600 crore for the scheme.
● Under the “Kalaignar Magalir Urimai Thittam,” ₹1,000 monthly assistance will continue for 1.15
crore women, with ₹13,807 crore allocated.
● Ten more ‘Thozhi’ hostels will be set up for working women at ₹77 crore.
● A new airport is planned at Parandur near
About Tamil Nadu:
● Capital: Chennai
● Chief Minister: M. K. Stalin
● Governor: R. N. Ravi
● National Parks: Mudumalai National Park, Mukurthi National Park, Gulf of Mannar Marine
National Park, Indira Gandhi (Anamalai) National Park, Guindy National Park
● Wildlife Sanctuaries: Vedanthangal Bird Sanctuary, Vettangudi Bird Sanctuary, Kalakad Wildlife
Sanctuary, Sathyamangalam Wildlife Sanctuary, Vallanadu Wildlife Sanctuary, Megamalai
Wildlife Sanctuary, Point Calimere Wildlife Sanctuary

Tamil Nadu Replaces ₹ with ‘ரூ’ in State Budget Logo, Sparking Language Debate

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 Important Monthly Current Affairs Capsule – March 2025

● The Tamil Nadu government has replaced the Indian Rupee symbol (₹) with the Tamil letter
‘ரூ’ in the state budget logo for FY 2025-26.
● This decision, led by Chief Minister M K Stalin, is seen as a cultural assertion and aligns with the
state’s long-standing opposition to Hindi imposition and the National Education Policy (NEP).
● The official Rupee symbol (₹) was designed by Udaya Kumar, a Tamilian and the son of a former
DMK MLA.

Nagaland Prioritizes Early Warning System, Rooftop Solar Installations for Immediate Implementation
● Nagaland plans to implement an Early Warning System (EWS) to boost disaster
preparedness in the state, especially ravaged by natural calamities.
● The EWS aims for early detection of impact from calamities and consequently getting the
relevant mitigation efforts into action.
● This, in turn, could act as a shield against Nagaland’s vulnerability and reduce the impact.
● This system will provide crucial warnings for earthquakes, heatwaves, heavy rainfall, lightning
strikes, landslides and other extreme weather events that could cause disasters.
● This system is expected to improve response measures and thereby play a vital role in
protecting the lives of citizens and their properties.
● In addition to the EWS, Nagaland has also launched the Nagaland Solar Mission by
expanding solar energy adoption in the state.
● Under the PM Surya Ghar Muft Bijli Yojana, the central government is offering Nagaland
consumers subsidies between 60 per cent and 54 per cent for rooftop solar systems ranging
from one kilowatt to three kilowatts.
● In addition, the Nagaland government is providing subsidies ranging from 36 per cent to 31
per cent.
About Nagaland:
● Chief Minister: Neiphiu Rio
● Governor: La. Ganesan
● Capital: Kohima
● National Parks: Intanki National Park
● Wildlife Sanctuaries: Fakim Wildlife Sanctuary, Puliebadze Wildlife Sanctuary, Rangapahar
Wildlife Sanctuary

Telangana Assembly passes resolution adopting Central Organ Donation Act

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 Important Monthly Current Affairs Capsule – March 2025

● The Telangana government has decided to adopt the Transplantation of Human Organs and
Tissues Act (THOTA) to bolster organ and tissue donation in the state.
● Originally introduced as the Transplantation of Human Organs Act, 1994, the law
was amended in 2011 to allow for the transplantation of both organs and tissues.
● The amended THOTA, which came into force in 2014, is already operational in 24 states
across India.
● By adopting this law, patients in Telangana will be able to save around six months previously
required for the legal and administrative process in non-blood-group-matching transplants.
● Currently, Hyderabad records around 1,200 kidney transplants annually, with the number
expected to increase by 12% to 16%, reaching approximately 1,400 transplants by 2025.

Gujarat Becomes Second State to Implement Uniform Civil Code

● Gujarat is set to become the second state in India to implement the Uniform Civil Code
(UCC) after Uttarakhand.
● State Law Minister Rushikesh Patel made this announcement in the state assembly, marking
a significant legal reform aimed at ensuring equal justice for all citizens.
● The decision to introduce the UCC aligns with the vision of ‘Ek Bharat, Shreshtha Bharat ’ and
reflects the state’s commitment to uniformity in civil laws.
● To facilitate the process, the Gujarat government has established a high-level committee
chaired by former Supreme Court judge Justice Ranjana Desai.
● The committee has been tasked with evaluating and drafting a comprehensive Uniform Civil
Code for the state.
About Gujarat:
● Chief Minister: Bhupendra Patel
● Governor: Acharya Devvrat
● Capital: Gandhinagar
● National Parks: Gir National Park, Blackbuck National Park, Vansda National Park, Marine
National Park
● Wildlife Sanctuaries: Nal Sarovar Bird Sanctuary, Velavadar Blackbuck Sanctuary, Kutch
Desert Wildlife Sanctuary, Barda Wildlife Sanctuary, Purna Wildlife Sanctuary

Haryana Launches AI Chatbot ‘Sarathi’ for Citizen Services

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● The Haryana government has introduced ‘Sarathi’, an AI-powered chatbot, to facilitate citizens’
direct access to government documents and policies.
● Launched by Chief Minister Nayab Singh Saini, the initiative is part of Haryana’s digital
governance strategy.
● Instant Document Retrieval: Provides immediate access to official policies, notifications, and
circulars.
● AI-Powered Search: Processes 17,820 official documents from a database of 73,622 scanned
PDF pages.
● 24/7 Availability: Accessible anytime for public convenience.
● User-Friendly Interface: Designed for seamless navigation.
About Haryana:
● Chief Minister: Nayab Singh Saini
● Governor: Bandaru Dattatreya
● Capital: Chandigarh
● National Parks: Sultanpur National Park, Kalesar National Park
● Wildlife Sanctuaries: Bhindawas Wildlife Sanctuary, Kalesar Wildlife Sanctuary, Nahar Wildlife
Sanctuary

Darjeeling Zoo in West Bengal First in India to Launch Cryogenic Preservation of Wildlife DNA
● The Padmaja Naidu Himalayan Zoological Park in Darjeeling, West Bengal has become the
first zoo in the country to preserve DNA samples of more than 60 varieties of wildlife found
exclusively in the snowy Himalayan terrains.
● These include tissues from red pandas, snow leopards and other indigenous species that
were killed either in road accidents or in captivity.
● ThisDarjeeling zoo is spread across 8 acres and at an altitude of 7050 ft, it is India’s highest-
altitude Zoological Park.
● The zoo is collaborating with the Center for Cellular and Molecular Biology, Hyderabad for this
cryogenic conservation initiative.
● The aim is to preserve genetic material for species facing extinction so that it can aid in future
research and conservation efforts.

West Bengal Police Launch Mobile App to Make Transfers Transparent

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● The West Bengal police have launched a mobile application which can be used by police
personnel while applying for their transfers.
● A substantial section of the Police department staff starting from the ranks of constable to
Sub-inspector can apply for these transfers through the e-HRMS software.
● The deadline for transfer requests through the app will end on 11 April, 2025.
● Those police staff who have already applied for transfer before 21 March will need to make a
fresh application through the app only.
● Only those with special medical contingencies can apply throughout the year.

Kerala Becomes First Indian State To Establish Senior Citizens Commission

● Kerala is the first state in India to set up such a commission for senior citizens.
About Senior Citizens Commission:
● A statutory body established under the Kerala State Senior Citizens Commission Act, 2025.
● It will safeguard the rights and welfare of elderly citizens and act as an advisory body for
policymaking.
● Aim of the Commission:
o To ensure the rehabilitation, protection, and empowerment of senior citizens.
o Promote active participation of senior citizens in building a progressive and inclusive
Kerala.

Andhra Pradesh government to install 58-foot statue of Potti Sriramulu in Amaravati

● Andhra Pradesh Chief Minister N Chandrababu Naidu announced on March 16, 2025, that
a 58-foot statue of Potti Sriramulu will be installed in Amaravati, honoring his 58-day hunger
strike for the creation of Andhra State.
● The announcement was made on Potti Sriramulu’s birth anniversary.
● The statue and a memorial will be completed before his next birth anniversary.
● His native house in Padamatipalli will be converted into a museum.
● A modern health centre and a high school building will also be constructed in Padamatipalli.

BANKING & FINANCE

House price index rises 3.1% in third quarter of FY25, shows Reserve Bank of India data

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● All-India House Price Index (HPI) increased 3.1% in the third quarter of 2024-25 as compared to
4.3% growth in the preceding three months and 3.8% growth in the year-ago period, according to data
released by the Reserve Bank of India (RBI).
● The Reserve Bank released its quarterly house price index for the December quarter of 2024-25,
based on transaction-level data received from the registration authorities in 10 major cities.
● The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow,
and Mumbai.
About RBI :
● Established : 1 April 1935
● Headquarters : Mumbai, Maharashtra, India
● Governor : Sanjay Malhotra

YES Bank Teams Up with World Trade Center (WTC) Mumbai to Support Small Business Growth
● YES BANK, India’s 6th-largest private sector bank, in collaboration with World Trade Center
(WTC) Mumbai, hosted the Export Conclave 2025 at YES BANK House.
● The event brought together over 100 exporters, industry leaders, and government delegates to
discuss emerging trade trends, challenges, and global opportunities.
About YES Bank:
● Founded: 2004
● Headquarters: Mumbai, Maharashtra, India
● Managing Director & CEO: Prashant Kumar
● Tagline : "Life Ko Banao Rich"
Paytm partners with startup Perplexity to integrate AI-powered search
● Paytm has partnered with Perplexity to integrate AI-powered search into its app.
● This feature will allow users to ask questions, explore topics in local languages, and make
informed financial decisions.
● Perplexity is an AI-driven answer engine that provides real-time responses with in-line citations.
● The integration will help users access instant and reliable information on financial planning,
market trends, and everyday queries, Paytm stated in a statement.
About Paytm:
● Headquarters: Noida, Uttar Pradesh, India
● Founded: 2010
● Chairman & CEO: Vijay Shekhar Sharma

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 Important Monthly Current Affairs Capsule – March 2025

● Subsidiaries: Paytm Payments Bank, Paytm Mall, Paytm Cloud Technologies

● Key Products: Paytm App, Paytm Wallet, Paytm Payments Bank, Paytm Mall

Bank of Baroda receives BSI's ISO 22301:2019 Business Continuity Management System Certification
● Bank of Baroda has received the ISO 22301:2019 Business Continuity Management System
(BCMS) certification from the British Standards Institution (BSI).
● Significance: The certification recognizes the bank’s operational resilience, business continuity
planning, and risk management aligning with global best practices.
● Objective: Ensures uninterrupted services during disruptions and enhances risk management
capabilities.
● International Benchmark: ISO 22301:2019 is a globally recognized standard focusing on
minimizing operational disruptions and swift recovery during crises.
About BSI:
● Established in 1901, BSI is the UK’s national standards body and a leading certification authority.
● Financial Sector Impact: ISO 22301:2019 is widely adopted by banks and financial institutions to
strengthen operational resilience.
About Bank of Baroda (BoB):
● Founded: 1908
● Headquarters: Vadodara, Gujarat, India
● Managing Director & CEO: Debadatta Chand
● Tagline: "India’s International Bank"

Employees' Provident Fund Organisation (EPFO) retains 8.25% interest rate on employees' provident
fund deposits for 2024-25
● The Employees' Provident Fund Organisation (EPFO) has retained the interest rate on
employees’ provident fund (EPF) deposits at 8.25% for 2024-25.
● In February 2024, EPFO had marginally increased the interest rate to 8.25% for 2023-24 from
8.15% in 2022-23.
● Previously, the interest rate was lowered to a four-decade low of 8.1% in 2021-22 from 8.5% in
2020-21.
● The 8.1% interest rate in 2020-21 was the lowest since 1977-78, when it stood at 8%.
About EPFO:
● Founded: 1952

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 Important Monthly Current Affairs Capsule – March 2025

● Headquarters: New Delhi, India

● Regulatory Body: Ministry of Labour and Employment, Government of India
● CEO (Central PF Commissioner): Neelam Shami Rao
● Key Schemes:
o Employees' Provident Fund (EPF) – Retirement savings for salaried employees
o Employees' Pension Scheme (EPS) – Monthly pension benefits after retirement
o Employees' Deposit Linked Insurance (EDLI) – Life insurance cover for EPF subscribers

Asian Development Bank (ADB) Sanctions $200 Million to Strengthen Kolkata’s Climate-Resilient
Infrastructure
● The Asian Development Bank (ADB) has approved a $200 million loan to support the
development of climate- and disaster-resilient sewerage and drainage infrastructure in Kolkata, West
Bengal.
● As one of India’s most populous and densely populated cities, Kolkata struggles with inadequate
drainage and sewerage systems, leading to urban flooding and unsanitary conditions.
● This investment is part of the Kolkata Municipal Corporation Sustainability, Hygiene, and
Resilience (Sector) Project, which aims to enhance urban resilience, improve sanitation, and mitigate
climate-related risks.
About Asian Development Bank (ADB):
● Headquarters: Mandaluyong, Metro Manila, Philippines
● Founded: 1966
● President: Masato Kanda
● Members: 68 (49 regional and 19 non-regional)

Indian fintech firm, NPST partners with Hyperface to enable instant credit access via UPI for banks
● NPST, an Indian fintech firm, has partnered with Hyperface to offer embedded credit lines
through UPI for banks and credit issuers.
● India has a significant gap in affordable credit access, with only 100 million credit cards
compared to over 400 million UPI users.
● The collaboration aims to provide seamless, digital-first credit solutions to enhance purchasing
power and promote financial inclusion.

Bank of Baroda Leads the Way with Central Bank Digital Currency (CBDC)-Powered Merchant

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Cashback Initiative
● Bank of Baroda (BoB) has launched a pilot Loyalty/Cashback Programme for merchants,
leveraging the programmability of the Central Bank Digital Currency (CBDC).
● The initiative is in collaboration with a fintech company and is available through the ‘bob
Merchant App’.
● It enables small and medium merchants, such as local retail shops, grocery stores, and
pharmacies, to independently create and run loyalty/cashback programmes.

Securities and Exchange Board of India (SEBI) Launches Centralized Database for Corporate Bonds
● Securities and Exchange Board of India (SEBI) has launched a centralized database portal for
corporate bonds called Bond Central to provide a single, authentic source of information on corporate
securities.
● The portal has been developed by the Online Bond Platform Providers Association (OBPP
Association) in collaboration with Market Infrastructure Institutions (MIIs), including stock exchanges
and depositories.
About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
1992 through the SEBI Act, 1992
● Headquarters : Mumbai, Maharashtra
● Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
● SEBI is the regulatory body for securities and commodity markets in India under the ownership of
the Ministry of Finance (MoF), GoI.

Reserve Bank of India’s ‘Regulations at a Glance’ Handbook: Key Takeaways for Cooperative Banks
● The Reserve Bank of India has released the “Regulations at a Glance” handbook, compiled by
the Department of Regulation (DoR), to provide a broad overview of the regulatory landscape across
various activities and entities.
● Organized into 6 chapters, it presents a tabular summary of major regulations issued by the DoR.

India and Japan renew $75 billion bilateral currency swap agreement
● The Bank of Japan, acting as agent for the Minister of Finance of Japan, and the Reserve Bank
of India signed the second Amendment and Restatement Agreement of the Bilateral Swap Arrangement
(BSA).

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 Important Monthly Current Affairs Capsule – March 2025

● The BSA is a two-way arrangement where both authorities can swap their local currencies in
exchange for the US Dollar.
● The size of the BSA remains unchanged, that is, up to 75 billion US Dollars.
● Japan and India believe that the BSA, which aims to strengthen and complement other financial
safety nets, will further deepen financial cooperation between the two countries and contribute to
regional and global financial stability.

Reserve Bank of India penalises HSBC, IIFL Samasta Finance over compliance lapses
● The Reserve Bank of India imposed a penalty of ₹66.60 lakh on HSBC and ₹33.10 lakh on IIFL
Samasta Finance.
● HSBC outsourced the disposal/closure of anti-money laundering (AML) alerts to a group
company.
● HSBC failed to report unhedged foreign currency exposures of certain borrowers to credit
information companies (CICs).
● HSBC opened savings deposit accounts for ineligible entities.

UPI Lite Integration: WhatsApp Set to Simplify Digital Transactions

● WhatsApp is working on integrating UPI Lite to enhance its payment system.
● UPI Lite is designed for small, frequent transactions and reduces failures during peak hours.
● Beta version (v2.25.5.17) testing suggests the feature is under development.
● Unlike regular UPI, UPI Lite allows users to preload a small balance for faster transactions.
About UPI Lite:
● Founded: Introduced by the National Payments Corporation of India (NPCI) in September 2022.
● Headquarters: Mumbai, India.
● CEO: Dilip Asbe (Managing Director & CEO of NPCI).

Fintech startup,Rupee112 Launches India’s First Fully Automated WhatsApp Loan Disbursal
● Rupee112, a Gurgaon-based fintech startup, has launched India’s first fully automated loan
disbursal service via WhatsApp.
● The service enables salaried professionals to access instant unsecured loans.
● AI and ML streamline the lending process, eliminating paperwork and reducing approval times.
● Borrowers can secure loans between ₹5,000 and ₹1,00,000 by messaging Rupee112’s official
WhatsApp number.

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Unified Payments Interface (UPI) Records Highest-Ever Monthly Transactions in January 2025
● UPI transactions in January 2025 surpassed 16.99 billion, with a total transaction value exceeding
Rs 23.48 lakh crore, marking the highest number recorded in any month, according to the Finance
Ministry.
● The digital payments landscape in India has shown remarkable growth in the financial year 2023-
24.
● The total UPI transaction volume exceeded 131 billion, with a total value crossing Rs 200 lakh
crore during the year.

Reserve Bank of India (RBI) introduced a $10 billion dollar-rupee buy-sell swap
● The Reserve Bank of India (RBI) introduced a $10 billion dollar-rupee buy-sell swap on February
21, 2025, to inject rupee liquidity for a longer duration.
● This follows a $5 billion swap conducted less than a month ago, reinforcing RBI's strategy to
address liquidity needs.
● The swap aims to stabilize the rupee's value while increasing India's foreign exchange reserves.
● RBI has been selling dollars to manage rupee volatility, reducing rupee liquidity in the system.

India Overseas Bank Partners with Confederation of Indian Industry Indian Green Building Council
(IGBC)
● The Confederation of Indian Industry (CII) Indian Green Building Council (IGBC) and Indian
Overseas Bank (IOB) signed an MoU to offer accessible financing for IGBC-certified green buildings.
● The MoU was signed by Koustuv Majumder (GM & CRO, IOB), K. S. Venkatagiri (Executive
Director, IGBC), Mahesh Anand (Co-chairman, IGBC Chennai), and Joydeep Dutta Roy & Dhanaraj T
(Executive Directors, IOB).
● Under this partnership, developers constructing IGBC-rated green buildings will receive
preferential financing options, while homebuyers purchasing homes in IGBC-certified projects will get
tailored financial assistance.
● The collaboration aims to promote energy-efficient construction, water conservation, and the use
of renewable materials.
About Indian Overseas Bank:
● Founded: 1937
● Headquarters: Chennai, Tamil Nadu, India

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● MD & CEO: Ajay Kumar Srivastava

● Tagline: "A friend you can bank upon"

City Union Bank (CUB)-Chennai Super Kings (CSK) co-branded credit card launched with sports and
lifestyle perks
● City Union Bank (CUB), ahead of the Indian Premier League (IPL) season, has partnered with
Chennai Super Kings (CSK) to introduce a co-branded credit card designed for cricket enthusiasts.
● The initiative offers CSK fans a unique financial product that blends banking benefits with
exclusive perks linked to their favourite IPL franchise.
● During the launch, CUB Executive Director Vijay Anandh described the offering as a “passion
credit card”, tailored to fill a gap in the existing credit card space.
About City Union Bank (CUB):
• Founded Year: 1904
• Headquarters: Kumbakonam, Tamil Nadu, India
• MD & CEO: Dr. N. Kamakodi
• Slogan: "Trust and Excellence Since 1904"

Reserve Bank of India keeps window open for Rs 2,000 notes exchange; 98.18% returned to banking
system
● The Reserve Bank of India (RBI) has kept the window open for the exchange and deposit of
₹2,000 notes, with an impressive 98.18% of the total value already returned to the banking system.
● As of now, only ₹6,471 crore worth of these notes remain in circulation since their withdrawal
announcement on May 19, 2023.
● Initially, the facility for deposit and exchange at banks was available until October 7, 2023.
● However, from October 9 onward, RBI offices have continued accepting ₹2,000 notes for deposit
into bank accounts.

ICICI Prudential Life launches income guarantee product in volatile times

● ICICI Prudential Life Insurance has introduced ‘ICICI Pru GIFT Select’, a long-term savings
product that offers guaranteed immediate income for liquidity.
● The product provides flexibility in choosing the start time, duration, and maturity amount of the
guaranteed income.
● It includes a life cover component to ensure financial security for the family.

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 Important Monthly Current Affairs Capsule – March 2025

● A unique feature is the increasing income option, where income grows at a compounding rate of
5% per annum, acting as an inflation hedge.
● Amit Palta, Chief Product and Distribution Officer, stated that the product allows customers to
customize guaranteed income based on their life goals and cash flow needs.
About ICICI Prudential Life Insurance:
● Headquarters: Mumbai, Maharashtra, India
● CEO: Anup Bagchi
● Subsidiaries: ICICI Prudential Pension Funds Management Company Limited
● Key Products: Life Insurance, Health Insurance, Pension Plans, Unit-Linked Insurance Plans
(ULIPs), Term Insurance, Child Plans, Retirement Plans, Critical Illness Plans

Poonawalla Fincorp launches 24/7 digital personal loan product

● Poonawalla Fincorp, a Cyrus Poonawalla Group NBFC focused on Consumer & MSME Lending,
has launched PL Prime Digital 24×7, an industry-first fully digital personal loan for salaried professionals.
● The loan offers instant access to credit with approvals in just 15 minutes, up to ₹15 lakh, through
a completely paperless process.
● Key features include:
o 24×7 availability via mobile app, website, and authorized partners.
o Zero collateral requirement.
o Flexible EMI tenures.
About Poonawalla Fincorp:
● Headquarters: Pune, Maharashtra
● Parent Organization: Rising Sun Holdings Pvt Ltd
● Founded: 1988
● Chairman: Adar Poonawalla
● Managing Director & CEO: Arvind Kapil

Paytm Ties Up With RBL Bank To Boost Digital Adoption Among Lender's Merchant Partners
● Paytm has partnered with RBL Bank to boost digital payment adoption among the bank's
merchant partners.
● As part of the initiative, Paytm will provide Soundbox and card machines to RBL Bank’s
merchants for seamless and efficient transactions.
● Key benefits for merchants:

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 Important Monthly Current Affairs Capsule – March 2025

o Real-time transaction tracking via Paytm for Business dashboard.

o Support for multiple payment modes, including UPI, RuPay credit card on UPI, UPI Lite, debit &
credit cards, and EMI options.
o Secure and reliable payment solutions powered by Paytm’s technology.
About Paytm:
● Headquarters: Noida, Uttar Pradesh, India
● Founded: 2010
● Chairman & CEO: Vijay Shekhar Sharma
● Subsidiaries: Paytm Payments Bank, Paytm Mall, Paytm Cloud Technologies
● Key Products: Paytm App, Paytm Wallet, Paytm Payments Bank, Paytm Mall
About RBL Bank (Ratnakar Bank Limited):
• Founded: 1943
• Headquarters: Mumbai, Maharashtra, India
• MD & CEO: R Subramaniakumar
• Tagline: "Apno Ka Bank"

Credit Rating Information Services of India Limited (CRISIL) projects FY26 GDP growth to be steady at
6.5%
● India’s economic growth is likely to be steady at 6.5% in FY26, CRISIL (Credit Rating Information
Services of India Limited) stated in a report
● Growth will be supported by a normal monsoon, lower commodity prices, and a recovery in
private consumption.
● Private Final Consumption Expenditure (PFCE) is expected to grow 7.6% in FY25, driving overall
economic expansion.
About CRISIL:
• Founded: 1987
• Headquarters: Mumbai, Maharashtra, India
• Operations: Credit Ratings, Risk & Policy Advisory, Research & Analytics
• MD & CEO: Amish Mehta
• Parent Company: S&P Global

Canara Bank Launches ‘Canara Crest Program’ for Premium Banking Experience

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 Important Monthly Current Affairs Capsule – March 2025

● Canara Crest is an exclusive premium banking membership program designed to provide a

combination of personalized banking services and luxury lifestyle benefits.
● It offers access to priority service lounges, bespoke debit and credit cards, airport lounge access,
dining rewards, luxury hotel stays, unlimited fitness memberships, and more.
About Canara Bank:
● Founded: 1906
● Headquarters: Bengaluru, Karnataka, India
● Managing Director & CEO: K. Satyanarayana Raju
● Tagline: "Together We Can"

Reserve Bank of India may have to infuse ₹1 Lakh crore by March,2025 to maintain liquidity -State
Bank of India Research report
● The Reserve Bank of India (RBI) may have to inject additional ₹1 lakh crore into the banking
system by March 2025 to maintain liquidity at an equilibrium level, according to a report by the State
Bank of India (SBI) research.
● The report highlighted that systemic liquidity remains tight, with a deficit of approximately ₹1.6
lakh crore as of the end of February 2025.
● The average liquidity deficit is higher, at around ₹1.95 lakh crore.
About State Bank of India (SBI):
● Founded Year: 1955
● Headquarters: Mumbai, Maharashtra, India
● Chairman: Challa Sreenivasulu Setty
● Slogan: "The Banker to Every Indian"

Paytm Introduces Unified Payments Interface (UPI) Trading Blocks to Simplify Stock Investments
● Paytm, operated by One 97 Communications, has unveiled a new feature that allows brokerage
applications to block funds directly in users’ bank accounts through its Unified Payments Interface (UPI)
service.
● In an exchange filing on 4 March 2025, the company announced the launch of UPI Trading
Blocks, a feature designed to enhance the convenience and security of stock trading.
● With this new system, users can set up automatic payment deductions directly from their bank
accounts, eliminating the need to transfer funds to brokerage platforms.

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 Important Monthly Current Affairs Capsule – March 2025

Reserve Bank of India to infuse additional liquidity via Open Market Operations purchase, $10B forex
swap for liquidity crunch
● In a bid to inject liquidity into the banking system, the Reserve Bank of India (RBI) announced on
March 5th 2025, that it will conduct open market purchases of government securities and USD/INR
swaps, amounting to approximately Rs 1.9 lakh crore in March 2025.
1. Open Market Operations (OMO) – ₹1 Lakh Crore Government Securities Purchase
i. RBI will conduct two phases of OMO purchases of Government of India securities:
ii. March 12, 2025 – ₹50,000 crore auction
iii. March 18, 2025 – ₹50,000 crore auction
iv. Objective: Inject liquidity into the banking system.
2. USD/INR Swap Auction – $10 Billion on March 24
a. RBI will conduct a Buy/Sell Swap auction with a 36-month tenor.
b. Aim: Long-term liquidity injection and forex reserve stabilization.
3. Previous Liquidity Injection – February 28, 2025 Swap
a. RBI conducted a $10 billion USD/INR swap, which saw strong demand.
b. This move was part of RBI’s ongoing liquidity management strategy.
4. RBI’s Commitment to Market Stability
a. The central bank stated that it will closely monitor liquidity and market conditions.
b. RBI aims to maintain financial stability amid evolving economic conditions.

PhonePe launches 'insuring HEROES' campaign for International Women's Day

● PhonePe launched its ‘insuring HEROES’ campaign ahead of the International Women’s Day.
● International Women’s Day is observed every year on March 8.
● As part of the initiative, the company is offering exclusive discounts of up to 30%, specifically for
women, on select term life and health insurance plans.
● It is available on the PhonePe platform until March 9, 2025.
● Women can avail these exclusive offers on the PhonePe app to ensure their overall economic
well-being and enjoy long-term stability.
About PhonePe:
● Headquarters: Bengaluru, Karnataka, India
● Founded: 2015
● CEO: Sameer Nigam

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 Important Monthly Current Affairs Capsule – March 2025

● Subsidiaries: PhonePe Payments, PhonePe for Business, PhonePe Insurance, PhonePe Wealth,
PhonePe Bharat BillPay
Key Products: PhonePe App, PhonePe Wallet, UPI Payments, PhonePe for Business, PhonePe
Insurance, PhonePe Gold, PhonePe Bharat BillPay

HDFC Bank launches Project HAKK to support Indian Air Force (IAF) veterans
● HDFC Bank has introduced Project HAKK (Hawai Anubhavi Kalyan Kendra) to support Indian Air
Force (IAF) pensioners, veterans, and their families by providing essential services and financial
empowerment.
● HDFC Bank has signed a Memorandum of Understanding (MoU) with the Indian Air Force (IAF),
represented by the Assistant Chief of Air Staff – Accounts & Air Veterans, and CSC Academy.
● 25 centres will be established across various Air Force units, including New Delhi, Bengaluru,
Gurgaon, Pune, Secunderabad, Guwahati, Jodhpur, and Chandigarh.
About HDFC Bank:
● Founded: 1994
● Headquarters: Mumbai, Maharashtra, India
● Managing Director & CEO: Sashidhar Jagdishan
● Tagline: "We understand your world"

HDFC Bank, Indian Army & CSC Academy Expand Project NAMAN to 26 New Locations to Support
Army Veterans
● HDFC Bank, India’s leading private sector bank, along with the Indian Army and CSC e-
Governance, has renewed the Memorandum of Understanding (MoU) to expand Project NAMAN – A
Tribute to Veterans to 26 Directorate of Indian Army Veterans (DIAV) locations.
● Project NAMAN aims to provide support and services to Army veterans, their families, and next
of kin.
● The CSC Centres, operated by Army veterans or their families, will offer pension-related
services, Government to Citizen (G2C) services, and Business to Consumer (B2C) services within
defence establishments.

Standing Advisory Committee to Review Flow of Credit to MSMEs held by Reserve Bank of India

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 Important Monthly Current Affairs Capsule – March 2025

● The 29th Meeting of the Standing Advisory Committee (SAC) to review the flow of credit to Micro,
Small and Medium Enterprises (MSME) sector was held in Ahmedabad, under the chairmanship of
Swaminathan J, Deputy Governor, Reserve Bank of India.
● The Deputy Governor emphasized the critical role of the MSME sector in India’s economic
growth during his keynote address.
● He reaffirmed the Reserve Bank of India’s (RBI) commitment to enhancing institutional credit
support through initiatives such as:
o Unified Lending Interface (ULI)
o Account Aggregator framework
o Regulatory Sandbox

Tamilnad Mercantile Bank (TMB) Revises Lending Rates: Marginal Cost of Funds Based Lending Rate
(MCLR) Cut to 9.60%, Repo Linked Lending Rate (RLLR) to 9.25%
● Tamilnad Mercantile Bank (TMB) has announced a revision in its Marginal Cost of Funds Based
Lending Rate (MCLR) and Repo Linked Lending Rate (RLLR), effective March 7, 2025.
● The bank has reduced the one-year MCLR to 9.60% from the previous 9.75%, while the RLLR
has been revised down to 9.25% from 9.45%.
● The decision follows the bank’s ongoing adjustments to its lending rates, reflecting changes in
market conditions and internal cost structures.
● The revised rates are expected to impact various loan products linked to the MCLR and RLLR
benchmarks.
About Tamilnad Mercantile Bank (TMB):
● Founded Year: 1921
● Headquarters: Thoothukudi, Tamil Nadu, India
● CEO: Salee S Nair
● Slogan: "Be a Step Ahead with TMB"

Razorpay enters Singapore, its 2nd international foray after Malaysia

● Bengaluru-based fintech firm Razorpay has announced its expansion into Singapore, marking its
second market in Southeast Asia after Malaysia.
● This move aligns with Singapore’s vision for a cashless and innovation-driven economy and aims
to support digital transformation in the region.
● Southeast Asia’s digital payments boom is accelerating, with Singapore at its core.

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 Important Monthly Current Affairs Capsule – March 2025

● Razorpay's AI-driven solutions promise to reduce cross-border transaction costs by 30-40% for
businesses.
About Razorpay:
● Headquarters: Bengaluru, Karnataka, India
● Founded: 2014
● CEO: Harshil Mathur
● MD: Shashank Kumar
● Subsidiaries: RazorpayX, Razorpay Capital, Curlec (Malaysia-based fintech)
Key Products: Payment Gateway, RazorpayX (neo-banking), Razorpay Capital (lending), Subscription
Payments, Payment Links

Reserve Bank of India imposes Rs 76.6 lakh penalty on 4 Non-Banking Financial Companies for
regulatory non-compliance
● The Reserve Bank of India (RBI) has imposed a total penalty of ₹76.6 lakh on four non-banking
financial companies (NBFCs) for non-compliance with its Peer-to-Peer (P2P) lending platform
regulations.
● Fairassets Technologies India faced the highest penalty of ₹40 lakh.
● Bridge Fintech Solutions and Rang De P2P Financial Services were each fined ₹10 lakh.
● Visionary Financepeer was penalized ₹16.6 lakh.
● The penalties were imposed under the 'Non-Banking Financial Company - Peer-to-Peer Lending
Platform (Reserve Bank) Directions, 2017'.

SBI Life Insurance expands product line with two new Child Insurance Plans
● SBI Life Insurance, one of India's most trusted private life insurers, has launched two new child
products, 'SBI Life - Smart Future Star' and 'SBI Life - Smart Platina Young Achiever', specifically
curated to empower parents in securing their child's future aspirations.
● The increasing cost of education, coupled with evolving career aspirations and rising lifestyle
expenses, can be unsettling for parents today.
● Addressing the innate need of parents to ensure a fulfilling life for their children regardless of
socio-economic challenges, SBI Life’s child products offer the necessary tools to build a comprehensive
financial safeguard for their child.
About SBI Life Insurance:
● Headquarters: Mumbai, Maharashtra, India

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 Important Monthly Current Affairs Capsule – March 2025

● Founded: 2001
● CEO: Amit Jhingran
● Subsidiaries: SBI Pension Funds Pvt. Ltd.
● Key Products: Life Insurance, Health Insurance, Pension Plans, Unit-Linked Insurance Plans
(ULIPs), Term Insurance, Child Plans, Retirement Plans, Critical Illness Plans

State Bank of India Unveils ‘Asmita’ Loan, ‘Nari Shakti’ Debit Card To Empower Women
● In a significant move to support women entrepreneurs across India, the State Bank of India (SBI)
has launched 'Asmita', a collateral-free digital loan designed exclusively for women-led micro, small,
and medium enterprises (MSMEs).
● The initiative, unveiled on the eve of International Women's Day, aims to provide easy access to
finance at low-interest rates, along with comprehensive support to help women entrepreneurs scale
their businesses.
● The launch of Asmita comes after a TransUnion CIBIL report highlighted the low participation of
women in business borrowing.

Star Health Insurance Launches ‘SheTARA’ Campaign to Mark International Women’s Day
● Star Health Insurance launches the “SheTARA” health campaign in Tamil Nadu to celebrate
International Women’s Day.
● This initiative aims to raise people’s awareness of preventative healthcare solutions and recruit
more women as insurance agents.
● This is a crucial step as Tamil Nadu’s factories employ nearly 42% of India’s women workers (6.3
lakh).
● Star Health Insurance will organise 40+ camps across Tamil Nadu.

Dentons Link Legal Advises Axis Bank On India's First Aircraft Financing Under GIFT City Framework
By An Indian Bank
● Axis Bank became the first Indian bank to execute an aircraft financing transaction through its
IBU at GIFT City IFSC.
● Client – The deal was completed for AI Fleet Services Ltd (AIFS), Air India’s leasing arm.
● Aircraft Purchase – A long-term USD loan was provided for the acquisition of 34 training aircraft
for Air India’s pilot training institute in Amravati, Maharashtra.

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 Important Monthly Current Affairs Capsule – March 2025

● Boosting Aviation Training – The facility will be one of India's largest pilot training hubs,
strengthening aviation infrastructure.
● Strengthening Domestic Aviation Finance – Historically dominated by multinational banks, this
move enhances India's self-reliance in aviation financing.
About Axis Bank:
● Founded Year: 1993
● Headquarters: Mumbai, Maharashtra, India
● CEO: Amitabh Chaudhry
● Slogan: "Badhti Ka Naam Zindagi" (A Life of Progress)

Bank of Baroda introduces the bob Global Women NRE & NRO Savings Account for Women NRIs
● Bank of Baroda has launched the BoB Global Women NRE & NRO Savings Account, an
exclusive banking product for women NRIs.
● This initiative is designed to cater to global aspirations and unique banking needs of women NRIs.
● The bank has also revamped its BoB Premium NRE & NRO Savings Account, enhancing its
features.
● Customised debit card with nil issuance charges and concessions on annual renewal fees.

IIFL Finance rebrands 7 existing branches into All Women Staffed 'Shakti' Branches on Women's Day
● IIFL Finance has rebranded seven branches into all-women staffed 'Shakti' branches on
Women's Day.
● The seven branches are located across the Delhi NCR and Mumbai Metropolitan Region.
● This initiative highlights IIFL Finance’s commitment to empowering women in financial services.
● ‘Shakti’ branches celebrate the strength and resilience of women driving social and economic
change.
● These branches will cater to all borrowers while offering financial literacy programs for female
entrepreneurs.
About IIFL Finance:
● Founded: 1995
● Headquarters: Mumbai, India
● Parent Company: IIFL Group
● Chairman: Nirmal Jain

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 Important Monthly Current Affairs Capsule – March 2025

Reserve Bank Innovation Hub (RBIH) Launches DesignShaala: A Platform to Drive Financial Inclusion
Through Design Thinking
● Reserve Bank Innovation Hub (RBIH) has launched DesignShaala, an initiative promoting
financial innovation through Human-Centered Design (HCD).
● The program was launched by Nandan Nilekani, Chairman & Co-Founder of Infosys, at the
‘Building for Billions’ event in Bengaluru.
● DesignShaala™ focuses on developing financial solutions centered around real user needs,
behaviors, and experiences.
● Aims to make finance more intuitive, inclusive, and impactful by fostering a people-first approach.
About Reserve Bank Innovation Hub (RBIH)
● Established: 2021
● Headquarters: Bengaluru, India
● Parent Organization: Reserve Bank of India (RBI)
● Chairman: Kris Gopalakrishnan (Co-founder, Infosys)
● CEO: Rajesh Bansal

Reserve Bank of India’s Digital Payments Awareness Week: A Step Towards a Secure Financial Future
● Addressing the Inauguration of Digital Payments Awareness Week (DPAW) March 10-16, 2025,
Reserve Bank of India Governor Sanjay Malhotra announced continued efforts to promote innovations
in payment systems with soft-touch regulations and regulatory guardrails.
● UPI expansion will focus on efficient cross-border payments by linking it with fast payment
systems of other countries.
● 5th Digital Payments Awareness Week (DPAW) 2025 is observed from March 10-16, under the
mission 'Har Payment Digital', with the theme 'India Pays Digitally'.

Securities and Exchange Board of India Reshapes Fundraising Rules: Rights Issues to Close In 23
Days
● The Securities and Exchange Board of India (SEBI) has introduced a new regulation to expedite
the capital-raising process for companies by reducing the timeline for completing rights issues to 23
days.
● The rule will come into effect from April 7, 2025.
● The reduced timeline makes rights issues a more efficient alternative to preferential issues, which
take around 40 days.

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 Important Monthly Current Affairs Capsule – March 2025

● Rights issues must remain open for a minimum of 7 days and a maximum of 30 days.
● Stock exchanges, depositories, and the registrar to the issue will validate application bids and
finalize the basis of allotment.

Reserve Bank of India releases Data on the Financial Performance of non-government non-financial
(NGNF) FDI Companies
● The Reserve Bank of India (RBI) released data on the financial performance of non-government
non-financial (NGNF) FDI companies in India for 2023-24, based on the audited annual accounts of
2,418 companies following Indian Accounting Standards (Ind-AS).
● Sales Growth:
o Manufacturing sector: 6.4% growth (decline from previous year).
o Services sector: 12.7% growth (lower than before).
o Exceptions: Wholesale & retail trade and Electricity, gas, steam & air conditioning supply
industries saw steady growth.
● Paid-up Capital (PUC):
o ₹5,30,160 crore, contributing 51.1% of total FDI company PUC in the RBI’s census.

Reserve Bank of India and National Centre for Financial Education (NCFE) Launch Nationwide
Campaigns to Boost Financial Literacy
● The Reserve Bank of India (RBI) and the National Centre for Financial Education (NCFE) have
launched multiple nationwide campaigns to enhance financial literacy in India.
● Lead banks have been directed to establish Financial Literacy Centres (FLCs) to conduct special
awareness camps.
● The "RBI Kehta Hai" campaign promotes safe banking practices through multi-media channels,
while mass media awareness programmes educate people across different age groups.
● To standardize financial education, RBI has developed the Financial Awareness Messages
(FAME) booklet, which includes targeted content for different groups, including senior citizens.

Digital Payments in India Grow at 46% compound annual growth rate (CAGR), Driven by Unified
Payment Interface (UPI)
● India's digital payment transactions (including UPI) saw a massive surge in FY 2024-25 (till
January), crossing 18,120 crore transactions with a transaction value of ₹2,330 lakh crore, according to
the Ministry of Finance.

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 Important Monthly Current Affairs Capsule – March 2025

● Overall digital transactions increased from 8,839 crore (FY 2021-22) to 18,737 crore (FY 2023-
24), reflecting a 46% CAGR.
● UPI growth:
o Transactions surged from 4,597 crore (FY 2021-22) to 13,116 crore (FY 2023-24), achieving a
CAGR of 69%.
o UPI accounted for ~70% of total digital transactions in FY 2023-24.
● Banks offering digital payments expanded from 216 (FY 2021-22) to 572 (FY 2023-24).
About Ministry of Finance:
● Cabinet Minister: Smt. Nirmala Sitharaman
● Minister of State (MoS): Shri Pankaj Chaudhary, Dr. Bhagwat Kishanrao Karad

Reserve Bank of India (RBI) issues framework for Self-Regulatory Organization (SRO) for account
aggregators
● The Reserve Bank of India (RBI) introduced the Account Aggregator (AA) framework in
September 2016 to facilitate secure financial data exchange.
● The AA ecosystem enables the seamless sharing of financial information among regulated
entities under different regulatory bodies.
● RBI aims to enhance operational efficiency and streamline data exchange within the AA
framework.
● The AA ecosystem involves multiple regulated entities under different financial regulators,
creating operational complexities.
● Frequent coordination is required to address dispute resolution, standardised agreements, and
common services among stakeholders.

Student loan fintech startup Kuhoo Finance secures Reserve Bank of India’s approval for non-banking
financial company licence (NBFC) licence
● Kuhoo Finance has received approval for a non-banking financial company licence from the
Reserve Bank of India (RBI), student loans-focussed lending platform, allowing it to lend from its books
along with partner NBFCs and banks.
● The licence is set to significantly expand Kuhoo's lending capacity, enabling the firm to offer
education loans of up to ₹2 crore across various academic disciplines.
● With the new regulatory status, Kuhoo Finance aims to expand its product portfolio to cater to
executive education and upskilling programmes.

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 Important Monthly Current Affairs Capsule – March 2025

● The company also plans to strengthen partnerships with educational institutions and financial
entities to improve student accessibility across India.

India's GDP growth to exceed 6.5% in FY26: Moody's

● Moody’s has projected India's GDP growth to exceed 6.5% in FY26, up from 6.3% in FY25.
● This growth will be driven by higher government capital expenditure, tax cuts, and interest rate
reductions, which will boost consumption.
● The rating agency maintains a stable outlook for the banking sector.
● However, asset quality is expected to deteriorate moderately due to stress in unsecured retail
loans, microfinance loans, and small business loans.

TransUnion CIBIL and FACE partner to launch Consumer Education initiative

● TransUnion CIBIL and the Fintech Association for Consumer Empowerment (FACE) are
partnering to promote financial literacy and credit awareness in India.
● The initiative, named CIBIL Jaagran, aims to improve credit education and facilitate easy access
to credit for consumers via FinTech solutions.
● Under the agreement:
● TransUnion CIBIL will provide knowledge and expertise and develop co-branded and customized
educational content.
● FACE, the Reserve Bank of India (RBI) recognised Self-Regulatory Organization (SRO) in the
FinTech sector, will work with its 165+ FinTech members to promote financial literacy and credit
awareness among consumers.

National Payments Corporation of India International partners with HitPay to expand India’s UPI
acceptance in Singapore
● HitPay has partnered with National Payments Corporation of India (NPCI) International Payments
Limited (NIPL) to integrate India’s UPI into its platform.
● The move allows Singapore merchants to accept UPI payments for in-store and eCommerce
transactions.
● The integration provides access to 450 million UPI users, offering a cost-effective alternative to
credit cards.
● India is among Singapore’s fastest-growing tourist markets, with 1.2 million Indian visitors in 2024.

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 Important Monthly Current Affairs Capsule – March 2025

● Merchants can accept payments from 50+ UPI-supported apps, including BHIM, Google Pay,
PhonePe, and Paytm.
● Transactions can be processed via Shopify, Wix, and WooCommerce through HitPay’s platform.
● HitPay’s cross-border network includes PayID (Australia), PromptPay (Thailand), QRIS
(Indonesia), QR Ph (Philippines), VietQR (Vietnam), and WeChat Pay (China).
● HitPay plans to introduce DuitNow in Malaysia and other regional payment solutions in 2025.
About NPCI:
● Headquarters: Mumbai, Maharashtra, India
● Founded: 2008
● CEO: Dilip Asbe
● Key Initiatives: Unified Payments Interface (UPI), Immediate Payment Service (IMPS), RuPay
(domestic card payment network), Bharat Bill Payment System (BBPS), Aadhaar Enabled
Payment System (AePS)

Reserve Bank of India, Bank of Mauritius sign Memorandum of Understanding to promote use of local
currencies for cross-border transactions
● RBI and Bank of Mauritius (BOM) have signed a Memorandum of Understanding (MoU) to
promote local currency transactions.
● The agreement facilitates cross-border trade using Indian Rupee (INR) and Mauritian Rupee
(MUR).
● It covers current account transactions and permissible capital account transactions.
● Exporters and importers can invoice and settle in their domestic currencies, boosting INR-MUR
market development.
● The use of local currencies reduces costs and settlement time for transactions.
● The MoU strengthens bilateral cooperation, trade ties, and financial integration between India
and Mauritius.
● RBI highlighted the initiative’s role in deepening historical, cultural, and economic relations.
About Bank of Mauritius (BoM):
● Established: September 1967
● Headquarters: Port Louis, Mauritius
● Governor: Rama Krishna Sithanen
● Currency Issued: Mauritian Rupee (MUR)

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 Important Monthly Current Affairs Capsule – March 2025

Asian Development Bank Launches ‘Frontier Seed’ to Support Private Sector Development and Ocean
Sustainability in the Pacific
● The Asian Development Bank (ADB) has launched the Frontier Seed (Pacific) program to
strengthen private sector growth and economic resilience in the Pacific region.
● The initiative aims to develop local capital markets, support sustainable businesses, and promote
inclusive economies.
● Initial commitment: $4 million, backed by ORCA Trust Fund, Nordic Development Fund, and UK
Foreign, Commonwealth & Development Office (FCDO).
About Asian Development Bank (ADB):
● Headquarters: Mandaluyong, Metro Manila, Philippines
● Founded: 1966
● President: Masato Kandaassa
● Members: 68 (49 regional and 19 non-regional)

Paytm Money receives Securities and Exchange Board of India approval to offer research analyst
services
● Paytm Money, a wholly-owned subsidiary of One97 Communications Ltd (OCL), has received
a Certificate of Registration as a research analyst from the Securities and Exchange Board of
India (SEBI).
● Paytm Money can now offer research services, including research reports and analysis, in
compliance with SEBI norms.
● The registration number for Paytm Money Ltd as a research analyst is INH000020086.

City Union Bank ties up with Sunrisers Hyderabad as exclusive banking partner
● City Union Bank (CUB) has partnered with Sunrisers Hyderabad (SRH) to launch a co-branded
credit card.
● The bank will offer customized savings accounts and loans.
● Special co-branded credit cards will be available for SRH supporters.
● Cardholders will receive special rewards and discounts on SRH merchandise.

Fitch Affirms Union Bank of India, Punjab National Bank (PNB) Ratings at BBB- with Stable Outlook
● Fitch Ratings affirmed Union Bank of India and Punjab National Bank (PNB) at ‘BBB-‘ with
a stable outlook, mirroring India’s sovereign rating.

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 Important Monthly Current Affairs Capsule – March 2025

● The ratings are driven by government support, with the Indian government holding 75% stake
in Union Bank of India and 70% in PNB, ensuring a high probability of support.
● The Government Support Rating (GSR) was affirmed at ‘BBB-‘.
● For Union Bank of India, Fitch revised the asset-quality score to positive from stable, expecting a
further decline in the impaired-loan ratio.
About Fitch:
● Headquarters: New York City, USA & London, UK
● Operations: Fitch Ratings (Credit Ratings), Fitch Solutions (Financial Intelligence), Fitch Learning
(Training & Development)
● President & CEO: Paul Taylor

Finance Ministry notifies 10-year Zero Coupon Bond of Power Finance Corporation
● Finance Ministry has notified Zero Coupon Bond (ZCB) for Power Finance Corporation.
● The company can raise up to ₹10,000
● Zero-Coupon Bond (ZCB) is a bond that does not pay periodic interest but is issued at a discount
to its face value.
● At maturity, the investor receives the full face value.
● The bond will be issued at a discount of ₹49,546 for a face value of ₹1 lakh, meaning the
investor pays ₹50,454 at issuance and receives ₹1 lakh at maturity.
● Maturity period: 121 months (10 years and 1 month).
● The issuance deadline is March 31, 2027, with a cap of 10 lakh bonds.
About Ministry of Finance:
● Cabinet Minister: Smt. Nirmala Sitharaman
● Minister of State (MoS): Shri Pankaj Chaudhary, Dr. Bhagwat Kishanrao Karad

EIL, MECON, 4 others in fray for Reserve Bank of India’s currency management project
● State-owned Engineers India and MECON as well as four private entities are in the fray for the
project to comprehensively revamp RBI’s currency management infrastructure in order to cater to
future cash needs of the country’s fast growing economy.
● Private entities: Accenture Solutions, Colliers International (India) Property Services,
PricewaterhouseCoopers, and The Boston Consulting Group (India)
● The project aims for a comprehensive modernization of RBI’s currency management system to
handle future cash demands in India’s fast-growing economy.

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 Important Monthly Current Affairs Capsule – March 2025

● As per the EoI document, the scope includes the creation of greenfield currency management
centres, implementation of warehouse automation, installation of security and surveillance
systems, development of an inventory management system, and establishment of a centralized
command centre.
● Currently, banknotes are printed at four presses, and coins are minted at four mints.
● The new banknotes and coins are received at 19 Issue Offices (IOs) across the country and
further distributed through 2,800 Currency Chests (CCs) operated by scheduled banks.

BRISKPE Gets Reserve Bank of India’s In-Principle Nod To Operate As Cross Border Payment
Aggregator
● BRISKPE has received in-principle authorisation from the Reserve Bank of India (RBI) to operate
as a payment aggregator for cross-border (PA-CB)
● The approval allows the company to facilitate both export and import payments under
the Payment and Settlement Systems Act, 2007.
● The authorisation aligns with the RBI’s updated regulatory framework introduced in October 2023.
● The company aims to support micro, small, and medium enterprises (MSMEs) engaged in
international trade.
● BRISKPE introduced a unified cross-border payment platform that integrates account-to-account
transfers with card collections.
● The platform is powered by PayU and PayPal and caters to exporters, service providers,
marketplace sellers, and freelancers.
● Established in 2023, BRISKPE secured $5 million in seed funding from PayU India in April 2024.
● The platform allows users to receive funds in six major currencies: USD, CAD, AUD, Singapore
Dollar, GBP, and Euro.
What is a Payment Aggregator?
● Online payment aggregators are companies that facilitate online payments by acting as
intermediaries between the customer and the merchant.
● The RBI introduced Guidelines for Regulating PAs and Payment Gateway in March 2020.

State Bank of India To Set Up artificial intelligence (AI) & Fintech Project Finance Unit
● State Bank of India (SBI) is establishing a “Center of Excellence for Project Financing” to focus
on financing new-age industries such as artificial intelligence (AI), e-commerce, and fintech.

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 Important Monthly Current Affairs Capsule – March 2025

● The unit will diversify SBI’s Project Finance and Structuring division, which traditionally
funds large infrastructure projects.
● SBI will hire specialized professionals to staff the unit.
● An external consultant is being appointed to assist in setting up the unit.

Reserve Bank of India gets global recognition for rolling out digital initiatives, including Pravaah and
Sarthi systems
● The Reserve Bank of India (RBI) has been selected for the Digital Transformation Award
2025 by Central Banking in London, UK.
● The award recognizes RBI’s digital initiatives, Pravaah and Sarthi, developed by its in-house
team.
● The awards committee highlighted how these initiatives have reduced paper-based submissions,
transforming RBI’s internal and external processes.
● Sarthi, launched in January 2023, digitized RBI’s internal workflows, enabling employees to store
and share documents securely.
● It has improved record management, data analysis, and operational efficiency by automating
tasks.

Flipkart-backed super.money joins top five UPI apps club: NPCI data
● Flipkart Group’s payment app money has become the fifth-largest UPI player in India,
surpassing Kunal Shah-led Cred, which is now in sixth place, according to NPCI data.
● Changes in the UPI pecking order:
o In November 2024, Sachin Bansal’s Navi overtook Cred to become the fourth-largest UPI
app.
o Navi and super.money continued to grow in February, despite a slight decline in
transactions for PhonePe due to fewer days in the month.

India to become world’s 3rd-largest economy by 2028, overtaking Germany: Morgan Stanley
● India is projected to become the world’s third-largest economy by 2028, surpassing Germany,
according to Morgan Stanley.
● ‘Make in India’ and ‘Digital India’ have turned villages into manufacturing hubs and cities
into thriving economic centers.
About Morgan Stanley:

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 Important Monthly Current Affairs Capsule – March 2025

● Founded: 1935
● Headquarters: New York City, USA
● Key Services: Investment banking, trading, asset management, and wealth management
● CEO: Ted Pick

GoDigit promoters get Insurance Regulatory and Development Authority of India nod for first private
reinsurer
● Valueattics Re, promoted by GoDigit founders Kamesh Goyal and Prem Watsa, has received
a reinsurer licence from the Insurance Regulatory and Development Authority of India (IRDAI).
● It is the first reinsurer licensed exclusively under IRDAI’s revamped framework with an initial
paid-up capital of ₹210 crore.
● The promoters include Oben Ventures LLP (backed by Kamesh Goyal) and FAL
Corporation (supported by Prem Watsa’s Fairfax Financial Holdings).
● At present, state-owned General Insurance Corporation of India(GIC Re) is the only domestic
reinsurer.
● Currently, 12 foreign reinsurance branches (FRBs) are operating in the country, including those
of Munich Re, Swiss Re and Lloyd’s of London.

Muthoot Microfin Shines at SKOCH Awards 2025

● Muthoot Microfin, a leading microfinance institution empowering women entrepreneurs, has
achieved a remarkable milestone by winning two Gold Awards at the SKOCH Awards 2025.
● These prestigious honors recognize the company’s outstanding contributions to digital financial
inclusion and innovative insurance solutions, further solidifying its leadership in India’s
microfinance sector.
● The awards were presented to Sadaf Sayeed, CEO of Muthoot Microfin, by Sameer Kochhar,
Chairman of SKOCH Group, and Gursharan Dhanjal, Vice-Chairman of SKOCH Group, at a
ceremony in New Delhi.

Life Insurance Corporation of India, New India Assurance, GIC Re remain Domestic Systemically
Important Insurers (D-SIIs)
● The Insurance Regulatory and Development Authority of India (IRDAI) has reaffirmed the
designation of Life Insurance Corporation of India (LIC), The New India Assurance Company,

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 Important Monthly Current Affairs Capsule – March 2025

and General Insurance Corporation of India (GIC Re) as Domestic Systemically Important
Insurers (D-SIIs) for the fiscal year 2024-25.
● This classification underscores their critical role in maintaining the stability of India’s financial
system.
● Understanding D-SIIs: Domestic Systemically Important Insurers are entities whose failure or
financial distress could significantly disrupt the domestic financial system due to their substantial
size, market significance, and interconnectedness with other financial institutions.
About IRDAI:
● Headquarters (HQ): Hyderabad, Telangana, India
● Chairperson: Debasish Panda (as of October 2023)
● Founded: 1999

Ministry of Statistics and Programme Implementation Releases Quick Estimates of Index of Industrial
Production for January 2025
● The Ministry of Statistics and Programme Implementation (MoSPI) released the Quick Estimates
of the Index of Industrial Production (IIP) for January 2025.
● The report highlights a significant improvement in industrial growth, with IIP expanding by 5.0% in
January 2025, compared to 3.2% in December 2024.
Key Highlights
1. Overall Growth
● IIP Growth (January 2025): 5.0% (compared to 3.2% in December 2024).
● IIP Index (January 2025): 161.3 (up from 153.6 in January 2024).
2. Sector-wise Performance
Sector Growth Rate (%) Index Value

Mining 4.4% 150.7

Manufacturing 5.5% 159.1

Electricity 2.4% 201.9

3. Industry-wise Performance (Manufacturing Sector – NIC 2-digit level)
● 19 out of 23 industries showed positive growth.
Top Three Contributors:
1. Manufacture of Basic Metals: 6.3% growth
2. Manufacture of Coke & Refined Petroleum Products: 8.5% growth

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 Important Monthly Current Affairs Capsule – March 2025

3. Manufacture of Electrical Equipment: 21.7% growth

4. Use-based Classification (Index Values & Growth Rates)
Category Index Value Growth Rate (%)

Primary Goods 162.8 5.5%

Capital Goods 116.8 7.8%

Intermediate Goods 172.3 5.2%

Infrastructure/Construction
199.6 7.0%
Goods

Consumer Durables 130.2 7.2%

Consumer Non-Durables 164.5 -0.2% (decline)

5.Top Three Contributors to IIP Growth (Use-based Classification)
1. Primary Goods
2. Infrastructure/Construction Goods
3. Intermediate Goods
6. Data Revision Policy
● January 2025 data – Quick Estimate.
● December 2024 data – First Revision.
● October 2024 data – Final Revision.
7. Weighted Response Rates
Month Response Rate (%)

January 2025 90%

December 2024 94%

October 2024 96%

Walmart-Owned Indus Appstore Partners with Xiaomi India

● Indus Appstore, owned by Walmart-backed PhonePe, has announced a multi-year
alliance with Xiaomi India to pre-install its app marketplace on all Xiaomi devices sold in India.
● As part of the deal, Xiaomi will replace its existing app store, GetApps, with Indus Appstore on
current devices.

Axis Bank launches 24/7 global USD clearing through Kinexys by J.P. Morgan

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 Important Monthly Current Affairs Capsule – March 2025

● Axis Bank, one of the largest private sector banks in India, has become the first Indian-
headquartered financial institution to launch near-real-time, 24/7 programmable USD clearing
capabilities for its commercial clients, leveraging Kinexys Digital Payments (KDP), a unit
of Kinexys by J.P. Morgan.
● By utilizing KDP, Axis Bank can offer its commercial clients optionality to leverage 24/7 cross-
border payments while also using foundational state-of-the-art blockchain-based infrastructure.
● This aims to enhance payment execution certainty and enable innovative corporate use cases,
such as programmable, multi-bank cash concentration.
● KDP first launched blockchain deposit accounts in 2019, and they are now used by a growing
number of corporate and financial institution clients around the world to facilitate and automate
on demand, 24/7 multi-currency payment movements across borders.

Bank Of India Announces Tie-Up With New India Assurance

● Bank of India will offer its customers a variety of general insurance products from the New
India Assurance Co., following an agreement between the companies which was announced.
● The partnership aims to make insurance more accessible to the bank’s customers, by taking
advantage of Bank of India’s network of 5,200 branches across the country and New India
Assurance’s expertise in the insurance field.
● With this tie-up, Bank of India’s customers will have access to insurance solutions,
including health, motor, personal accident, home, and commercial insurance products offered
by NIACL, a systemically important insurance company, the public sector’s bank’s release
stated.
About Bank of India:
● Founded: 1906
● Headquarters: Mumbai, Maharashtra, India
● Managing Director & CEO: Rajneesh Karnatak
● Tagline: “Relationships Beyond Banking”
About New India Assurance:
● Headquarters (HQ): Mumbai, Maharashtra, India
● Chairman & Managing Director (CMD): Ms. Girija Subramania
● Founded: 1919

Department of Telecommunications (DoT) & National Bank for Agriculture and Rural Development to

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 Important Monthly Current Affairs Capsule – March 2025

provide high-speed broadband for digital empowerment in rural areas

● The Department of Telecommunications (DoT) and National Bank for Agriculture and Rural
Development (NABARD) signed an MoU for digital empowerment in rural areas across the
country.
● The objective of the MoU is to drive rural development in institutions supported by NABARD,
by providing access to digital services, digital governance and promoting a digital economy
through high-speed broadband connectivity under BharatNet programme.
● NABARD will share information including geo-coordinates and contact details of institutions
and Digital Bharat Nidhi (DBN) under DoT will share geo-coordinates of BharatNet point of
presence (PoP) locations in gram panchayats (GPs), from where high-speed broadband
connectivity to be extended to rural institutions/enterprises.
● Both DBN and NABARD will promote each other’s efforts to enable a digital economy by
leveraging high-speed broadband connectivity using BharatNet.
About NABARD:
● It is an All India Development Financial Institution (DFI) and an apex Supervisory Body for
overall supervision of Regional Rural Banks, State Cooperative Banks and District Central
Cooperative Banks in India.
● Headquarters: Mumbai, Maharashtra
● Founded: July 12, 1982 by the Government of India
● Chairman: Shaji K V

Bank of Baroda Offers Financial Aid Under Pradhan Mantri-Vidyalaxmi Scheme

● Bank of Baroda announced that it has gone live with the new Pradhan Mantri Vidyalaxmi (PM-
Vidyalaxmi) Scheme to provide financial support to meritorious students.
● The PM-Vidyalaxmi Scheme is an initiative by the central government for students seeking
financial assistance to pursue higher education and to ensure that financial constraints do not
deprive the youth of India from pursuing quality higher education.
● The bank has 12 dedicated Education Loan Sanctioning Cells (ELSC) and 119 Retail Assets
Processing Cells (RAPC), in addition to more than 8,300 branches, to cater to the needs of
students from across the country.
● The PM-Vidyalaxmi Scheme is a special loan product that enables collateral-free, guarantor-
free education loans, made accessible through an entirely digital application process.

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 Important Monthly Current Affairs Capsule – March 2025

● 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.
● Loan amounts up to Rs 7.5 lakh will be provided a 75 per cent credit guarantee by the
Government of India, to encourage banks to expand coverage.
● In addition to the PM-Vidyalaxmi Scheme, Bank of Baroda stated it offers collateral-free
education loans up to Rs 7.5 lakh for all courses in India.

Parliament passes Banking Laws (Amendment) Bill to allow 4 nominees in bank account
● Parliament passed the Banking Laws (Amendment) Bill, 2024, which allows bank account
holders to have up to four nominees, with the Rajya Sabha approving it by a voice vote.
● It amends the:
(i) Reserve Bank of India (RBI) Act, 1934,
(ii) Banking Regulation Act, 1949,
(iii) State Bank of India Act, 1955,
(iv) Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970,
(v) Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980.
● Under the RBI Act, scheduled banks must maintain a certain level of average daily balance
with the RBI as cash reserves.
● The Bill changes the definition of fortnight to the period from: (i) first day to fifteenth day of
each month, or (ii) sixteenth day to the last day of each month.
● It also changes this definition under the Banking Regulation Act where non-scheduled banks
are required to maintain cash reserves.
Major Changes in the new amendments:
● The Banking Regulation Act prohibits the director of a bank (except its chairman or whole-time
director) to hold office for more than eight years consecutively.
● The Bill seeks to increase this period to 10 years for co-operative banks.
● The Banking Regulation Act prohibits a director on a bank’s board to serve on the board of
another bank.
● This does not apply to directors appointed by
● The Bill extends this exemption to the director of a central co-operative bank.
● Under the Banking Regulation Act, substantial interest in a company refers to holding shares
of over five lakh rupees or 10% of the paid-up capital of the company, whichever is less.
● The Bill amends this to increase the threshold to two crore rupees.

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 Important Monthly Current Affairs Capsule – March 2025

● Deposit holders can now appoint up to four nominees, either successively or simultaneously.
● Previously, only one nominee was allowed.
● The State Bank of India Act, and the Banking Companies (Acquisition and Transfer of
Undertakings) Acts of 1970 and 1980 provide for transferring unpaid or unclaimed dividends
to an unpaid dividend account.
● If the money in the account remains unpaid or unclaimed for seven years, it is transferred to
the Investor Education and Protection Fund (IEPF).
● Any person whose shares or unclaimed/ unpaid money is transferred to IEPF can claim the
transfer or refund.
● At present, the remuneration paid to the auditors of banks is fixed by the RBI in consultation
with the central government.
● The Bill empowers banks to decide the remuneration of their auditors.

Asian Development Bank and Shriram Finance Sign Deal to Boost MSME and EV Financing in India
● The Asian Development Bank (ADB) and Shriram Finance Limited have signed a loan
agreement for $150 million to boost access to finance for micro, small, and medium-sized
enterprises (MSMEs) in India with a focus on business loans and for financing electric
vehicles (EVs) and low-emission commercial vehicles for business purposes.
● The loan will particularly benefit women-owned MSMEs and those in lagging states.
● The transaction is part of a total $306 million financing package led by ADB as the mandated
lead arranger and bookrunner, which includes a loan of $150 million from Japan International
Cooperation Agency and INR 500 million from Export-Import Bank of India.
● ADB’s loan also supports the government’s initiatives to reduce air pollution through the
adoption of EVs and low-emission (Bharat Stage-VI compliant) vehicles.

Punjab & Sind Bank Wins Top Improvers Award in EASE 6.0 Reforms Index
● Punjab & Sind Bank has been honored with the Top Improvers award in the EASE 6.0
Reforms Index, recognizing its significant progress in banking services and operational
efficiency.
● The EASE 6.0 Reforms Index, part of the government’s Enhanced Access & Service
Excellence (EASE) initiative, evaluates public sector banks (PSBs) on digital transformation,
customer-centric services, and financial inclusion.

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 Important Monthly Current Affairs Capsule – March 2025

● Punjab & Sind Bank’s remarkable improvements in these areas set it apart in this year’s
assessment.
● Swarup Kumar Saha, Managing Director & CEO, congratulated the entire Punjab & Sind Bank
team on this achievement.
About Punjab & Sind Bank (PSB):
● Founded: 1908
● Headquarters: New Delhi, India
● Managing Director & CEO: Swarup Kumar Saha
● Tagline: “Where Service Is A Way of Life”

Reserve Bank of India revises priority sector lending guidelines, new rules effective from April 1, 2025
● The Reserve Bank of India (RBI) has issued revised guidelines on Priority Sector Lending
(PSL) to enhance the targeting of bank credit to key sectors of the economy.
● The new guidelines will take effect from April 1, 2025.
Key Changes:
● Enhanced loan limits for housing loans under PSL coverage.
● Broadened criteria for classifying loans under renewable energy.
● Increased PSL target for urban cooperative banks (UCBs) to 60% of Adjusted Net Bank Credit
(ANBC) or Credit Equivalent of Off-Balance Sheet Exposures (CEOBSE), whichever is higher.
● Expanded list of eligible borrowers under ‘Weaker Sections’.
● Removal of cap on loans by UCBs to individual women beneficiaries.
Housing Loan Limits for PSL Classification:
● ₹50 lakh for centres with a population of 50 lakh and above.
● ₹45 lakh for centres with a population of 10 lakh to below 50 lakh.
● ₹35 lakh for centres with a population below 10 lakh.
● The maximum cost of dwelling units has been specified for each category.

Regional Rural Banks achieve a record ₹7,571 crore profit in FY 2023-24: Ministry of Finance Report
● The Government is reviewing the financial performance of Regional Rural Banks
(RRBs) at national and regional levels.
● The agenda items for review meetings include:
o Financial performance and technology upgradation of RRBs.
o Focus on the MSME portfolio.

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 Important Monthly Current Affairs Capsule – March 2025

o Loan diversification towards Agri-allied, MSME, and Retail Sectors.

● The financial health of RRBs has improved, with record net profit of ₹7,571 crore in FY 2023-
24.
● Key financial parameters have shown consistent improvement:
o Total Balance Sheet Size increased from ₹7,04,556 crore (FY 2021-22) to ₹8,40,080
crore (FY 2023-24).
o Net NPA declined from 4.7% (FY 2021-22) to 2.4% (FY 2023-24).
o Credit to Deposit (CD) Ratio increased from 64.5% to 71.4% between FY 2021-22
and FY 2023-24.

Government withdraws gold monetisation scheme, short-term deposits to continue

● The Gold Monetisation Scheme (GMS) was announced on 15thSeptember, 2015 with the
objective to reduce country’s reliance on the import of gold in the long run and mobilise gold
held by households and institutions in the country to facilitate its use for productive purposes.
● The GMS comprised 3 components:
1. Short-Term Bank Deposit (STBD) (1-3 years).
2. Medium-Term Government Deposit (MTGD) (5-7 years).
3. Long-Term Government Deposit (LTGD) (12-15 years).

State Bank of India Raises $1 Billion in syndicated dollar loan

● State Bank of India (SBI) has raised $1 billion through the largest dollar-denominated
syndicated loan from India this year.
● The bank opted not to exercise a $250 million greenshoe option that could have expanded the
five-year loan facility.
● Foreign-currency loans by Indian issuers have declined by 30% in 2025, amounting to $3.2
billion, a four-year low (IndexBox).
● Reliance Industries Ltd. is currently seeking a loan of up to $3 billion, which may reverse this
trend.
● Shadow banks (NBFCs) are increasingly turning to dollar-denominated loans due to tighter
domestic regulations.
NPCI BHIM Services Limited (NBSL) introduced BHIM 3.0, the newest version of the Bharat Interface
for Money (BHIM) app

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 Important Monthly Current Affairs Capsule – March 2025

● NPCI BHIM Services Limited (NBSL), a wholly-owned subsidiary of NPCI, has announced the
launch of BHIM 3.0, the latest version of the Bharat Interface for Money (BHIM)
● This upgrade will be fully rolled out by April 2025, introducing new features to enhance digital
transactions and financial management.
● BHIM 3.0 will support more than 15 Indian languages, making digital payments accessible to a
wider audience.
● It is optimized to function smoothly even on weak or unstable internet connections.
● The new version will allow users to track, manage, and split expenses, with features
like spend analytics for better budgeting and a split expenses option to share costs with
friends or family.
About BHIM:
● BHIM, which stands for Bharat Interface for Money, is a mobile payment app developed by the
National Payments Corporation of India (NPCI) that uses the Unified Payments Interface (UPI)
for quick and secure digital transactions.
● Launched by Prime Minister Narendra Modi in December 2016

Reserve Bank of India Releases “India: Financial Sector Assessment Program, 2024
● The Financial Sector Assessment Program (FSAP), a joint initiative of the International
Monetary Fund (IMF) and the World Bank (WB), conducts a comprehensive analysis of a
country’s financial sector.
● Since September 2010, the assessment has been mandatory for 32 jurisdictions,
including India, every five years.
● The last FSAP for India was conducted in 2017, and the Financial System Stability
Assessment (FSSA) report was published on December 21, 2017.
● The IMF released the latest India-FSSA report on February 28, 2025, based on the
assessment carried out in 2024, while the WB’s Financial Sector Assessment (FSA) report is
yet to be published.

Bank of Baroda launches the Baroda mDigiNext Mobile App for Baroda Cash Management Services
customers
● Bank of Baroda, a top-tier public sector bank in India, has introduced its latest innovation—
the Baroda mDigiNext mobile application.

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 Important Monthly Current Affairs Capsule – March 2025

● This specialized app is designed exclusively for corporate clients utilizing the bank’s Baroda
Cash Management Services (BCMS), making Bank of Baroda one of the few banks in India to
offer a dedicated cash management solution for businesses.
● Seamless, Anytime-Anywhere Financial Control
● The Baroda mDigiNext app leverages cutting-edge technology to streamline cash
management workflows for businesses.
● It provides 24/7 access to powerful financial tools, enabling quick, data-driven decision-
making on the move.

Government launches BAANKNET, e-BKray to enhance PSU bank e-auctions for Non-Performing
Assets sales
● To increase sale value from bank e-auctions, the Department of Financial Services
(DFS) urged Public Sector Banks (PSBs) to revamp their e-auction platforms.
● The e-BKray platform was launched on 28th February 2019.
● On 3rd January 2025, the government introduced BAANKNET, an upgraded e-auction portal.
● All 12 Public Sector Banks (PSBs) and the Insolvency and Bankruptcy Board of India
(IBBI) are using BAANKNET for listing and auctioning properties across India.

Central Depository Services (India) Limited’s arm inks pact with Life Insurance Corporation of India
(LIC) to provide Insurance Repository services
● Centrico Insurance Repository (CIRL), a subsidiary of Central Depository Services (India) Ltd.
(CDSL), has entered into an agreement with Life Insurance Corporation of India (LIC).
● CIRL will provide Insurance Repository (IR) services to LIC under their Request for Proposal
(RFP) process.
● Policyholders will benefit from IR services and enhanced value-added features periodically.
● CIRL has partnerships with 43 insurance companies, including 23 life insurance companies, to
provide IR services across India.
● The partnership with LIC, India’s largest life insurer, enhances CIRL’s opportunities to develop
services for policyholders nationwide.
Shareholding Structure:
● LIC holds 4.4% of CDSL’s shareholding and 8.3% in CIRL.
● CDSL owns a 51% stake in CIRL through direct holding and 3.25% through CDSL Ventures,
its wholly owned subsidiary.

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 Important Monthly Current Affairs Capsule – March 2025

About Life Insurance Corporation of India (LIC):

● Headquarters (HQ): Mumbai, Maharashtra, India
● Chairman: M.R. Kumar
● Founded: 1956
About CDSL:
● Central Depository Services (India) Ltd. (CDSL) is one of the two major securities depositories
in India, alongside National Securities Depository Limited (NSDL).
● It was founded in 1999 and operates under the regulatory framework of the Securities and
Exchange Board of India (SEBI).

Indian National Space Promotion and Authorisation Centre appoints Small Industries Development
Bank of India Venture Capital to manage Rs 1,000 crore spacetech fund
● The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has
appointed Small Industries Development Bank of India (SIDBI) Venture Capital Limited
(SVCL), a wholly owned subsidiary of the Small Industries Development Bank of India (SIDBI),
to manage a ₹1,000 crore venture capital fund aimed at supporting space technology startups
in India.
● The total fund size is ₹1,000 crore, distributed over five years, with ₹150 crore allocated for
2025-26, ₹250 crore annually for the next three years, and ₹100 crore for 2029-30.
● Growth-stage startups are eligible for funding between ₹10 crore to ₹30 crore, while late-stage
startups can receive between ₹30 crore to ₹60 crore.
● The fund aims to support around 40 startups across the space supply chain, including
upstream, midstream, and downstream sectors.
About Small Industries Development Bank of India (SIDBI):
● It is an All India Development Financial Institution (DFI) focused on financing and developing
Micro, Small, and Medium Enterprises (MSMEs) in India.
● Headquarters: Lucknow, Uttar Pradesh
● Founded: April 2, 1990, by the Government of India
● Chairman & Managing Director: Shri Manoj Mittal

Reserve Bank of India Says Interest Rate On Government of India Floating Rate Bond 2033 Shall Be
8.34%

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 Important Monthly Current Affairs Capsule – March 2025

● The rate of interest on Government of India Floating Rate Bond 2033 (GOI FRB 2033)
applicable for the half year March 22, 2024 to September 21, 2024 shall be 8.34% per annum,
the Reserve Bank of India announced.
● FRB 2033 carries a coupon, which has a base rate equivalent to the average of the Weighted
Average Yield (WAY) of last three auctions (from the rate fixing day, i.e., March 22, 2024) of
182 Day T-Bills, plus a fixed spread (1.22 percent).
About Floating Rate Bonds
● Floating Rate Bonds are government securities that do not have a fixed coupon rate, but keep
varying throughout their tenure based on the fluctuations in benchmark.
● The benchmark rate may be the repo rate, reverse repo rate, average T-Bill and Savings
scheme interest rate.
● Note that the RBI floating rate bonds cannot be traded, and they also cannot be used as
collaterals.

Scapia resumes onboarding of their travel credit cards on the Federal Bank platform
● Scapia has relaunched its travel-focused credit card, emphasizing simplified travel
rewards and a seamless user experience.
● After a temporary halt in 2024 due to regulatory restrictions on Federal Bank, its co-brand
partner, Scapia has resumed credit card issuance with new benefits.
● In 2023, Scapia launched its credit cards focused on the travel space.
● Scapia was unique because their card products and the whole app and experience are
concentrated on travel..
About Federal Bank:
● Founded: 1931
● Headquarters: Aluva, Kerala, India
● Managing Director & CEO: KVS Manian
● Tagline: “Your Perfect Banking Partner”

Reserve Bank of India imposes penalty of Rs 36 lakh on IDBI Bank and Citibank
● The central bank stated that the penalty of Rs 36 lakh on IDBI Bank was imposed for failing to
undertake due diligence while processing inward remittances from a foreign currency account,
the report stated.

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 Important Monthly Current Affairs Capsule – March 2025

● RBI stated that it has also imposed a penalty of Rs 36.28 lakh on Citibank N.A. for
contravention of the directions related to reporting of transactions undertaken under the
Liberalised Remittance Scheme.
Other Penalties by RBI:
Penalty
Bank Name Reason for Penalty Legal Basis
Amount

Non-compliance with RBI

directions on Priority Sector Section 47A(1)(c)
Sreenivasa
Lending (PSL) and failure read with Sections
Padmavathi Co-
to deposit the prescribed 46(4)(i) and 56 of
operative Urban ₹1.20 lakh
amount in the MSE the Banking
Bank Ltd.,
Refinance Fund due to Regulation Act,
Telangana
shortfall in PSL target for 1949
FY 2022-23.

Non-compliance with RBI Section 47A(1)(c)

directions on PSL and read with Sections
Sind Co-operative
failure to deposit the 46(4)(i) and 56 of
Urban Bank Ltd., ₹1.30 lakh
prescribed amount in the the Banking
Telangana
MSE Refinance Fund Regulation Act,
despite a cautionary letter. 1949

Non-compliance with RBI Section 47A(1)(c)

The Karnataka Co- directions on PSL and read with Sections
operative Bank Ltd., failure to deposit the 46(4)(i) and 56 of
₹5.00 lakh
Muddebihal, prescribed amount in the the Banking
Karnataka MSE Refinance Fund Regulation Act,
despite a cautionary letter. 1949

Non-compliance with RBI Section 47A(1)(c)

The Karimnagar directions on PSL and read with Sections
Co-operative Urban failure to deposit the 46(4)(i) and 56 of
₹3.10 lakh
Bank Ltd., prescribed amount in the the Banking
Telangana MSE Refinance Fund Regulation Act,
despite a cautionary letter. 1949

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 Important Monthly Current Affairs Capsule – March 2025

Non-compliance with RBI

directions under the Section 47A(1)(c)
The Karaikudi Co- Supervisory Action read with Sections
operative Town Framework (SAF), 46(4)(i) and 56 of
₹50,000
Bank Ltd., Tamil including sanctioning loans the Banking
Nadu beyond exposure limits and Regulation Act,
without proper collateral 1949
security.

Equitas Bank renews T20 partnership with Chennai Super Kings (CSK) and Gujarat Titans (GT) for
2025
● Equitas Small Finance Bank has renewed its partnership with Chennai Super Kings
(CSK) and Gujarat Titans (GT) as the Official Banking Partner.
● This marks a six-year association with CSK and a three-year partnership with GT.
● The collaboration aligns with Equitas’ ‘Bank Behind Champions’ campaign, emphasizing
excellence and community engagement.
● Equitas’ branding will be featured on CSK’s lead helmet and the back of GT’s helmet this
season.
● The campaign integrates outdoor advertising and localized activities to raise awareness about
Equitas’ CASA and loan products.
● The ‘Bank Behind Champions’ initiative aims to provide exceptional banking services to
entrepreneurs, employees, and CSR beneficiaries.
About Equitas Small Finance Bank:
● Founded: 2007
● Headquarters: Chennai, Tamil Nadu, India
● Managing Director & CEO: P. N. Vasudevan
● Tagline: “It’s Fun Banking”

Zuno General Insurance Integrates ‘Pay How You Drive’ as a Standard Feature in Motor Policies
● Zuno General Insurance has introduced Zuno SmartDrive, integrating the Pay-How-You-Drive
(PHYD) feature into its motor insurance policies.
● It is the first insurer in India to offer mobile telematics as a built-in feature at no extra cost.

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 Important Monthly Current Affairs Capsule – March 2025

● The PHYD feature, previously an add-on, is now automatically included in all new and
renewing policies.
● Using mobile telematics, it evaluates speed, braking patterns, and distractions, allowing
policyholders to track their driving scores via the Zuno app.
● Safer driving can result in lower premiums, offering financial incentives to responsible drivers.
About Zuno General Insurance:
● Zuno General Insurance, formerly known as Edelweiss General Insurance Company Limited.
● Established in 2017.
● Headquartered in Mumbai, Maharashtra

SBI Mutual Fund Introduces Two New PSU Bank Investment Schemes-SBI BSE PSU Bank Index Fund
and SBI BSE PSU Bank ETF
● SBI Mutual Fund has introduced two new passive schemes – SBI BSE PSU Bank Index Fund
and SBI BSE PSU Bank ETF, that will track the BSE PSU Bank Index.
● These funds provide exposure to India’s public sector banking sector and will be available for
subscription during the New Fund Offer (NFO)period from March 17 to March 20, 2025.
About SBI Mutual Fund:
● Headquarters: Mumbai, Maharashtra, India
● Founded: 1987
● CEO: Nand Kishore
● Parent Organization: State Bank of India (SBI)
● Joint Venture Partner: Amundi Asset Management (France)

Securities and Exchange Board of India cuts minimum investment in social stock exchange instruments
to Rs 1,000
● The Securities and Exchange Board of India (SEBI) has reduced the minimum investment
amount for Zero Coupon Zero Principal (ZCZP) instruments on the Social Stock Exchange
(SSE) from ₹10,000 to ₹1,000.
● This move aims to enhance retail participation in social impact investments by making them
more accessible to smaller investors.
● ZCZP instruments are financial tools that allow investors to contribute funds to non-profit
organizations (NPOs) listed on the SSE without expecting any financial returns, thereby
supporting various social causes.

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 Important Monthly Current Affairs Capsule – March 2025

● Previous Framework: The detailed framework for SSE was first notified on September 19,
2022, and later amended on December 28, 2023.
● Reason for Change: Based on recommendations from the Social Stock Exchange Advisory
Committee and public feedback.

Regional Rural Banks get five more years to amortise additional pension liabilities
● The Reserve Bank of India has allowed Regional Rural Banks (RRBs) an additional five
years from FY25 to amortise pension-related expenditure.
● The extension was granted due to difficulties in absorbing increased liabilities in a single year.
● Earlier, RRBs were permitted to amortise liabilities under the Employee Pension Scheme
2018 over five years from FY19.
● RRBs must implement the pension scheme with effect from November 1, 1993.
● If the expenditure is not fully charged to the profit and loss account in FY25, it can be
amortised over a maximum of five years, starting March 31, 2025.
● At least 20% of total pension liability must be provisioned every year.
● RRBs must fully recognise pension liabilities as per applicable accounting standards and
disclose their accounting policy in Notes to Accounts.
● Banks should disclose the amount of unamortised expenditure and the impact on net profit if
fully recognised.
● Pension-related unamortised expenditure will not be deducted from Tier-I capital of RRBs, as
per RBI’s notification.
About Regional Rural Banks:
● Regional Rural Banks (RRBs) are financial institutions in India that provide credit and banking
services to rural and semi-urban areas, particularly for agriculture and small-scale industries.
● Established: 1975 (under the Regional Rural Banks Act, 1976)
● Regulator: Reserve Bank of India (RBI) and NABARD (National Bank for Agriculture and Rural
Development)
● Ownership Structure:
o 50% – Government of India
o 35% – Sponsor Bank (Public Sector Banks like SBI, PNB, etc.)
o 15% – State Government

Securities and Exchange Board of India Partners with DigiLocker to Reduce Unclaimed Assets, Boost

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 Important Monthly Current Affairs Capsule – March 2025

Investor Protection
● The Securities and Exchange Board of India (SEBI) has partnered with DigiLocker to minimize
unclaimed assets and enhance investor protection.
● Investors can store and access their demat and mutual fund holdings on DigiLocker.
● DigiLocker users can fetch and store their statement of holdings for shares, mutual funds, and
CAS.
● Nominees can be added to investor accounts for easy access to financial documents after the
investor’s demise.
● DigiLocker will update account status upon investor’s death using data from KRAs.
● Automatic notifications via SMS and email will be sent to nominees to facilitate asset
transmission.
● SEBI has instructed AMCs, RTAs, and depositories to register with DigiLocker for seamless
investor access.
● KRAs will provide death data to DigiLocker to streamline asset transfers.
● This move aims to reduce unclaimed assets caused by dormant accounts and outdated
information.
● The circular will be effective from April 1, 2025.

Reserve Bank of India, Bank of Mauritius sign Memorandum of Understanding to promote use of local
currencies for cross-border transactions
● RBI and Bank of Mauritius (BOM) have signed a Memorandum of Understanding (MoU) to
promote local currency transactions.
● The agreement facilitates cross-border trade using Indian Rupee (INR) and Mauritian Rupee
(MUR).
● It covers current account transactions and permissible capital account transactions.
● Exporters and importers can invoice and settle in their domestic currencies, boosting INR-
MUR market development.
● The use of local currencies reduces costs and settlement time for transactions.
● The MoU strengthens bilateral cooperation, trade ties, and financial integration between India
and Mauritius.
● RBI highlighted the initiative’s role in deepening historical, cultural, and economic relations.
Cabinet approves Incentive scheme for promotion of low-value BHIM-UPI transactions

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 Important Monthly Current Affairs Capsule – March 2025

● The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the ‘Incentive
Scheme for promotion of low-value BHIM-UPI transactions Person to Merchant (P2M)’ for the
financial year 2024-25 in the following manner:
● The incentive scheme for promotion of low-value BHIM-UPI transactions (P2M) will
be implemented at an estimated outlay of 1,500 crore, from 01.04.2024 to 31.03.2025.
● Only the UPI (P2M) transactions upto 2,000/- for Small Merchants are covered under the
scheme.
Category Small Merchant Large Merchant

Zero MDR / Incentive Zero MDR / No

Up to Rs. 2k
(@0.15%) Incentive

Zero MDR / No
Over Rs. 2k Zero MDR / No Incentive
Incentive
● Incentive at the rate of 0.15% per transaction value will be provided for transactions
upto Rs.2,000 pertaining to category of small merchants.
● For all the quarters of the scheme, 80% of the admitted claim amount by the acquiring banks
will be disbursed without any conditions.
● The reimbursement of the remaining 20% of the admitted claim amount for each quarter will
be contingent upon fulfilment of the following conditions:
a) 10% of the admitted claim will be provided only when the technical decline of the acquiring bank will
be less than 0.75%; and
b) The remaining 10% of the admitted claim will be provided only when the system uptime of the
acquiring bank will be greater than 99.5%.

BUSINESS NEWS

Employees’ Provident Fund Organisation Retains 8.25% Interest Rate on Provident Fund Deposits for
FY 2024-25
● The Central Board of Trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO), in
its meeting held, recommended that the current annual interest rate of 8.25% on provident fund deposits
be retained for the financial year 2024-25.

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 Important Monthly Current Affairs Capsule – March 2025

● Despite trade union demands for a higher rate, the government decided to maintain the existing
rate due to economic considerations.

Index of Eight Core Industries (ICI) – January 2025 Report

● The Index of Eight Core Industries (ICI) is a key economic indicator that tracks the performance
of eight fundamental sectors of the Indian economy. These industries significantly influence the Index of
Industrial Production (IIP), making their growth an important marker of economic health.
● The latest ICI report for January 2025 highlights trends in these core sectors and their impact on
industrial and economic growth.
Understanding the Eight Core Industries
The ICI covers eight key industries, which together hold a 40.27% weightage in the overall Index of
Industrial Production (IIP):
● Coal
● Crude Oil
● Natural Gas
● Refinery Products (such as petroleum and diesel)
● Fertilizers
● Steel
● Cement
● Electricity

GST Collections Surge by 9.1% to ₹1.84 Lakh Crore in February 2025

● The Goods and Services Tax (GST) collections for February 2025 recorded a 9.1% year-on-year
(YoY) growth, reaching approximately ₹1.84 lakh crore.
● This significant increase reflects strong domestic economic activity and improved tax compliance
measures, indicating the stability and resilience of the Indian economy.
Breakdown of Gross GST Revenue (February 2025)
● Component ● Amount (₹
Crore)
● Central GST ● ₹35,204
(CGST) crore
● State GST ● ₹43,704
(SGST) crore

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 Important Monthly Current Affairs Capsule – March 2025

● Integrated GST ● ₹90,870

(IGST) crore
● (Including ● (₹41,702
imports) crore)
● Compensation ● ₹13,868
Cess crore

India Showcases Telecom Excellence at Mobile World Congress (MWC) 2025

● Union Minister for Communications, Shri Jyotiraditya M. Scindia, represented India at the Mobile
World Congress (MWC) 2025 in Barcelona, Spain.
● His visit underscored India’s rapid 5G expansion, lowest data tariffs, indigenous telecom
infrastructure, and strong cybersecurity framework.
● At MWC 2025, Shri Scindia engaged with global telecom leaders, addressed key sessions, and
inaugurated the Bharat Pavilion, highlighting India's advancements in the telecom sector.
● Shri Scindia inaugurated VVDN’s AI-based Wi-Fi 7, a key innovation in India’s telecom sector.

India Becomes Leading Source of FDI into Dubai, Surpassing United States., France & United Kingdom
in 2024
● India has emerged as the largest Foreign Direct Investment (FDI) contributor to Dubai in 2024,
surpassing the United States, France, and the United Kingdom.
● Dubai has also retained its position as the world’s top destination for Greenfield FDI projects for
the fourth consecutive year, according to Financial Times Ltd.’s ‘fDi Markets’ data.
India’s FDI Dominance
● India’s FDI share – 21.5% of total FDI into Dubai.
● Comparison with other countries:
o U.S. – 13.7%
o France – 11%
o U.K. – 10%
o Switzerland – 6.9%

India’s Retail Inflation Falls to 7-Month Low in February 2025

● India’s retail inflation eased to 3.61% in February 2025, marking a seven-month low, as food
inflation fell below 4% for the first time in nearly two years.

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 Important Monthly Current Affairs Capsule – March 2025

● This decline raises expectations of another rate cut in the upcoming April 2025 meeting of the
Reserve Bank of India (RBI).
● Retail Inflation: 3.61%, lowest in 7 months.
● Food Inflation: 3.75%, lowest in 21 months.
● Vegetable Inflation: -1.1% (deflation) vs. +11.4% in January 2025.
● Pulses Inflation: Deflation after +2.6% in January.
● Fruits & Edible Oils: Prices increased.
● Core Inflation: Highest in 7 months, driven by gold prices.
● Personal Care Inflation: 13.6% (vs. 10.6% in January).

Finance Ministry Approves ₹10,000 Crore Zero Coupon Bond Issuance by PFC
● The Finance Ministry has authorized Power Finance Corporation (PFC) to issue Zero Coupon
Bonds (ZCBs) worth up to ₹10,000 crore.
● These bonds will be issued at a discount and redeemed at full face value upon maturity.
● A Zero Coupon Bond (ZCB) is a financial instrument that does not pay periodic interest (coupon)
during its tenure. Instead, it is issued at a discount and redeemed at face value upon maturity.
● The difference between the issue price and face value represents the investor's return.

India’s Forex Reserves Surge by $15.267 Billion to $653.966 Billion

● India’s foreign exchange reserves saw a sharp rise of $15.267 billion, reaching $653.966
billion for the week ending March 7, 2025.
● This is the largest weekly jump in over two years and is mainly attributed to the Reserve Bank of
India’s (RBI) $10 billion forex swap conducted on February 28, 2025, aimed at injecting liquidity
and stabilizing the rupee.
● Breakdown of Reserve Components
Component Change During the Week Current Value

Foreign Currency Assets

Increased by $13.993 billion $557.282 billion
(FCA)

Gold Reserves Decreased by $1.053 billion $74.325 billion

Special Drawing Rights

Increased by $212 million $18.21 billion
(SDRs)

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 Important Monthly Current Affairs Capsule – March 2025

Rank UPI Player Transaction Volume (Million)

1 PhonePe ₹11,18,963.81 crore

Reserve Position with

Decreased by $69 million $4.148 billion
IMF

India’s Wholesale Inflation Rises to 2.38% in February 2024

● Wholesale Inflation Rate: Increased to 2.38% in February, up from 2.31% in January, 2025.
● Major Contributors: Inflation rise driven by manufactured food products, textiles, and non-food
articles.
● Food Index Decline: Dropped from 7.47% in January to 5.94% in February, providing some relief.
● Historical Trend: WPI inflation was in double digits for 18 months until September 2022, later
declining, briefly turning negative in April 2023 and July 2020.

UPI Transactions Decline in February 2025:

● The Unified Payments Interface (UPI) recorded 16.11 billion transactions in February 2025,
marking a 5.2% decline from the previous month.
● Despite the decrease, PhonePe, Google Pay, and Paytm continued to dominate the market,
while Flipkart’s Super.money entered the top five UPI apps, replacing CRED.

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 Important Monthly Current Affairs Capsule – March 2025

2 Google Pay ₹7,71,089.15 crore

India’s Core Sector Growth
Slows to 2.9% 3 Paytm ₹1,17,090.29 crore in February 2025

4 Flipkart’s -
Super.money

5 CRED ₹45,127.72 crore

● India’s core sector growth dropped to 2.9% in February 2025, marking its weakest expansion
in five months.
● This is a significant decline from 7.1% growth in February 2024, largely due to high base
effects and weaker output in five of the eight core industries.
● The slowdown is expected to impact the Index of Industrial Production (IIP), which had
recorded 5% growth in January 2025.
Sectors with Decline
● Coal: 1.7% growth (slowest in four months).
● Crude Oil: -5.2% decline (continued production challenges).
● Natural Gas: -6% decline (supply chain constraints).
● Refinery Output: 0.8% growth, slowest in six months.
Other Industrial Indicators
● Manufacturing PMI dropped to 56.3 (February 2025) from 57.7 (January 2025), indicating a
slowdown in industrial activity.

India’s Current Account Deficit (CAD) Expands to $11.5 Billion in Q3 FY25

● India’s Current Account Deficit (CAD) widened to $11.5 billion (1.1% of GDP) in Q3 FY25
(Oct-Dec 2024) due to an increase in the merchandise trade deficit, as per the Reserve Bank
of India (RBI).
● However, the deficit moderated from $16.7 billion (1.8% of GDP) in Q2 FY25.
● Despite this, foreign exchange reserves have risen by $311 billion since December 2018,
marking the largest increase under any RBI Governor.
● Meanwhile, Balance of Payments (BoP) recorded a depletion of $37.7 billion, compared to an
accretion of $6 billion in Q3 FY24.
● The full-year CAD for FY25 is projected to be around 0.8% of GDP.

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 Important Monthly Current Affairs Capsule – March 2025

JSW Steel Becomes World’s Most Valuable Steel Manufacturer

● JSW Steel, led by Sajjan Jindal, has achieved a historic milestone by becoming the world’s
highest-valued steel company, surpassing US-based Nucor Corp.
● The company’s market capitalization crossed $30 billion, placing it ahead of major global steel
manufacturers such as ArcelorMittal, Nippon Steel, and Baoshan Iron.
● JSW Steel’s Market Cap: ₹6 lakh crore, surpassing its Indian peers like Tata Steel (₹1.95 lakh
crore).

Comparison of Major Steel Players

Steel Company Market Capitalization ($ Billion)

JSW Steel (India) 30+

Nucor Corp (USA) 29.92

ArcelorMittal (Europe) 27

Nippon Steel (Japan) 24

Baoshan Iron (China) 21

Tata Steel (India) 23

Jindal Steel (India) 10.81

SAIL (India) 5.5

APPOINTMENTS & RESIGNATIONS

Former NITI Aayog CEO and G20 Sherpa appoints NIIT University as University Chancellor
● Amitabh Kant has been appointed as the Chairperson (Chancellor) of NIIT University (NU),
succeeding renowned scientist Kasturirangan. His appointment will take effect on March 10,
2025.
● Amitabh Kant previously served as the CEO of NITI Aayog from 2016 to 2022.
● During his tenure, he led key initiatives such as the Atal Innovation Mission, the Aspirational
Districts Programme, and the National Programme on Artificial Intelligence.
● He also played a pivotal role in government campaigns like Make in India, Startup India,
and Ease of Doing Business

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 Important Monthly Current Affairs Capsule – March 2025

Goibibo onboards Rishabh Pant as brand ambassador for a campaign featuring Sunil Gavaskar
● Goibibo has appointed Rishabh Pant as its brand ambassador, featuring Sunil Gavaskar in a new
campaign.
● The campaign adds a playful twist to Gavaskar’s iconic ‘Stupid, Stupid, Stupid’ commentary
phrase.
● The youth-centric campaign aims to attract travel-loving audiences with fun advertisements.
● Raj Rishi Singh, CMO of Goibibo, highlighted Pant’s youthful energy as a key reason for his
selection.
● Goibibo offers flight, train, and bus ticketing, along with hotel bookings and car
rentals via website and app.

VISION 2020 India Ropes in Krishnamachari Srikkanth as Goodwill Ambassador for Eye Care
Awareness
● Former Indian cricketer Krishnamachari Srikkanth has been appointed as the Goodwill
Ambassador for VISION 2020 India.
● This initiative aims to combat avoidable blindness across the nation.
● Srikkanth’s involvement is expected to raise awareness and garner support for the program’s
vital work in preventing and treating vision impairment.

Anuj Kumar Singh Takes Charge as Joint Secretary, Union Public Service Commission (UPSC)
● Anuj Kumar Singh, an Indian Railway Service of Electrical Engineers (IRSEE) officer from
the 2009 batch, has been selected for central deputation and appointed as the Joint Secretary
(Director level) in the Union Public Service Commission (UPSC), Delhi.
● The Ministry of Railways recommended his appointment for a five-year term.
● An official order from the Department of Personnel and Training (DoPT), issued on March 18,
2025, confirmed Singh’s new role.
● Under the central staffing scheme, he will serve for five years from the date he assumes charge
or until further orders.

Bajaj Auto reappoints Rajiv Bajaj as Managing Director & Chief Executive Officer & approves ₹1,500-
crore infusion in Bajaj Auto Credit

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 Important Monthly Current Affairs Capsule – March 2025

● Bajaj Auto has reappointed Rajivnayan Rahulkumar Bajaj as Managing Director & CEO for
another five-year term, effective April 1, 2025, subject to shareholder approval.
● The company has announced a ₹1,500 crore fund infusion into its wholly-owned subsidiary, Bajaj
Auto Credit Ltd (BACL).
● The investment aims to support BACL’s projected AUM growth for FY 2025-26 and will be
provided in installments through equity capital, preference capital, or subordinated debt.
● The board also reappointed Olympic gold medallist Abhinav Bindra as a non-executive
independent director for a second five-year term, effective May 20, 2025, subject to shareholder
approval.

Stuart Young to be sworn in as new Prime Minister of Trinidad and Tobago

● Stuart Young was sworn in as the new Prime Minister of Trinidad and Tobago, succeeding Keith
Rowley, who resigned.
● The swearing-in ceremony took place at the President’s House in the presence of President
Christine Kangaloo.
● Young pledged to build a safer nation and called for unity among citizens.
● Keith Rowley’s resignation:
o Announced on February 26 that he would step down on March 16.
o Plans to vacate his position as PNM’s political leader in consultation with party leadership.
About Trinidad and Tobago:
● Capital: Port of Spain
● Currency: Trinidad and Tobago Dollar (TTD)
● President: Christine Kangaloo
● Prime Minister: Stuart Young

Tractors and Farm Equipment (TAFE) appoints Lakshmi Venu as vice chairman to strengthen
leadership
● Lakshmi Venu has been appointed Vice Chairman of TAFE (Tractors and Farm Equipment), one
of the world’s largest tractor manufacturers.
● She is recognized for her contributions to farm mechanization and the auto component business,
with a strategic, customer-centric, and innovation-driven leadership approach.
● Mallika Srinivasan, Chairman and MD of TAFE, praised her impactful contributions and
leadership in Massey Ferguson and Eicher Tractors.

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 Important Monthly Current Affairs Capsule – March 2025

● Other roles: She is also the Managing Director of Sundaram-Clayton Ltd, a key automotive
component manufacturer.
● Educational background: Graduate of Yale University and holds a Doctorate in Engineering
Management from the University of Warwick, UK.

Deena Mehta re-appointed as Independent Director of Fino Payments Bank

● Deena Asit Mehta has been reappointed as an Independent Director of Fino Payments Bank
Limited, effective March 19, 2025, subject to shareholder approval.
● Served nine years on the BSE Board, including as Vice President & President.
● Has been part of SEBI committees for 21 years, contributing to multiple market reforms.
About Fino Payments Bank:
● Founded: 2017
● Headquarters: Mumbai, India
● Managing Director & CEO: Rishi Gupta

Axar Patel Appointed as Delhi Capitals Captain for IPL 2025

● Delhi Capitals (DC), co-owned by JSW-GMR, has named Axar Patel as the captain for the 2025
Indian Premier League (IPL) season.
● The 31-year-old all-rounder, who has been with DC since 2019, replaces the previous leadership
after serving two seasons as vice-captain.
● Known for his consistent performances with both bat and ball, Axar Patel aims to lead DC to
a successful season with a well-balanced squad.

ICICI Bank Appoints Kamal Wali as Head of Security Operations Center

● ICICI Bank has appointed Kamal Wali as the Head of its Security Operations Center (SOC),
reinforcing its commitment to cybersecurity and risk mitigation.
● With over 18 years of experience in cybersecurity and IT operations, Wali will play a crucial role
in strengthening the bank’s digital security infrastructure.
● Primary Responsibilities:
o Overseeing security operations to combat evolving cyber threats.
o Strengthening cybersecurity infrastructure for digital resilience.
o Enhancing data protection measures for secure banking services.

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 Important Monthly Current Affairs Capsule – March 2025

Steve Waugh Appointed to Centre for Australia-India Relations Advisory Board

● Former Australian cricket captain Steve Waugh has been appointed to the Centre for
Australia-India Relations (CAIR) Advisory Board, as announced by Australian Minister for
Foreign Affairs, Penny Wong.
● This move recognizes Waugh’s long-standing contributions to strengthening Australia-India
ties in sports, culture, and philanthropy.
Centre for Australia-India Relations (CAIR)
● Role: Enhances economic, cultural, and diplomatic ties between Australia and India.
● Functions: Acts as a bridge between government, industry, academia, and community
organizations.
● Advisory Board’s Role: Sets strategic priorities and ensures alignment with evolving bilateral
relations.

Jasprit Bumrah Appointed as Brand Ambassador for L&T Finance Ltd.

● L&T Finance Ltd. (LTF), a leading Non-Banking Financial Company (NBFC) in India, has
announced Indian cricketer Jasprit Bumrah as its brand ambassador.
● This strategic partnership aims to enhance LTF’s brand presence and strengthen its customer
outreach across India.
● L&T Finance provides a wide range of financial products and services to both urban and rural
customers, particularly in:
▪ Rural Business Finance
▪ Farm Equipment Finance
▪ Two-wheeler Finance

Challa Sreenivasalu Setty Appointed as Chairman of Indian Banks Association (IBA)

● The Indian Banks Association (IBA) has elected Challa Sreenivasalu Setty, the Chairman of
State Bank of India (SBI), as its new Chairman for the upcoming fiscal year.
● His tenure will last until the next Annual General Meeting (AGM).
● The decision was made during the IBA managing committee meeting on March 28, 2025.
● Deputy Chairmen Appointed:
o A Manimekhalai – CEO, Union Bank of India
o Swarup Kumar Saha – CEO, Punjab & Sind Bank
o Madhav Nair – CEO, Bank of Bahrain & Kuwait India

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 Important Monthly Current Affairs Capsule – March 2025

● Honorary Secretary: B Ramesh Babu, CEO, Karur Vysya Bank

Hitachi Cash Management Services names Yusuf Pachmariwala as Managing Director & Chief
Executive Officer
● Hitachi Cash Management Services, a subsidiary of Hitachi Payment Services, announced a
leadership transition with Yusuf Pachmariwala set to assume the role of Managing Director &
Chief Executive Officer, effective April 1, 2025.
● Yusuf will succeed Anup Neogi, who has decided to retire from the role.
● Currently serving as Director Operations – Cash Business at Hitachi Payment Services, Yusuf
has played a crucial role in scaling cash business operations and achieving operational
excellence through consistent, swift, and effective execution.
● Prior to his current role, Yusuf held leadership positions with organizations including Tata AIA
Life Insurance, HCL Perot Systems, HDFC Bank, and Stock Holding Corporation of India.
● He is a Chartered Financial Analyst (CFA) from the ICFAI and an Associate Member of the
Institute of Cost and Works Accountants of India (AICWA).

Union Government Assigns IAS Atul Kumar Tiwari Additional Charge as Chairperson of the National
Council of Vocational Education & Training Chairperson
● AS Atul Kumar Tiwari (1990 batch) belonging to the Karnataka cadre, has been assigned an
additional charge as the Chairperson of the National Council of Vocational Education &
Training (NCVET).
● Tiwari, who currently serves as Secretary of the Ministry of Skill Development and
Entrepreneurship, has been granted ex-post facto approval for this role by the Appointments
Committee of the Cabinet (ACC).
● His tenure will extend for three months or until a regular incumbent is appointed or until further
orders, whichever is earlier.
● Meanwhile, IAS Neha Bansal (2010 batch) from the AGMUT cadre has been appointed
as Deputy Director (Level-13) in the National Archives of India under the Ministry of Culture.
● Her appointment, approved under the Central Staffing Scheme, will be for a tenure of five
years or until further orders.
● The Department of Personnel and Training (DoPT) issued an official order regarding both
appointments on March 25, 2025.

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 Important Monthly Current Affairs Capsule – March 2025

Maruti Suzuki names Sunil Kakkar as Whole-Time Director

● Maruti Suzuki has appointed Sunil Kakkar as an Additional Director and Whole-time Director
(Corporate Planning) for a three-year term from April 1, 2025, to March 31, 2028.
● Kakkar has over 35 years of experience at Maruti Suzuki India (MSIL).
● Currently serves as Senior Executive Officer, heading the corporate planning vertical and is
a key member of the executive committee.

Britannia’s former Chief Executive Officer Rajneet Kohli to join Hindustan Unilever as foods head
● Rajneet Kohli will join Hindustan Unilever (HUL) as Executive Director, Foods on April 7, 2025.
● He will replace Shiva Krishnamurthy, who is leaving to pursue an external opportunity.
● Kohli will also join HUL’s management committee, effective the same date.
● Previously served as CEO & Executive Director of Britannia Industries until his resignation
on March 14, 2025.

Ex-Cabinet Secretary Rajiv Gauba Appointed Full-Time Member of NITI Aayog

● Former Union Cabinet Secretary Rajiv Gauba has reportedly been appointed as the
new Member, NITI Aayog (National Institution for Transforming India) in the rank of Minister of
State.
● He has been given Y-category security cover.
● NITI Aayog is the apex think-tank of the Government of India.
● Rajiv Gauba has held important assignments over the last three decades in Bihar and
Jharkhand along with key positions of Union Home Secretary and Union Cabinet Secretary.
● Prior to becoming Union Secretary for Housing & Urban Affairs, he served as Chief Secretary,
Jharkhand.
● Rajiv Gauba begins his new stint as the 4th member at Aayog along with Dr Vijay Kumar
Saraswat, Prof Ramesh Chand and Dr Vinod Paul.
● Currently, DrSuman Bery is Vice Chairperson in the rank and status of a Cabinet Minister,
whereas former Commerce Secretary B V R Subrahmanyam

Former Enforcement Directorate Sanjay Kumar Mishra appointed as full-time member of Prime
Minister’s economic advisory council
● Sanjay Kumar Mishra, former Enforcement Directorate (ED) Director, has been appointed as
a full-time member of the Economic Advisory Council to the Prime Minister (EAC-PM).

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 Important Monthly Current Affairs Capsule – March 2025

● Mishra, a 1984-batch Indian Revenue Service (IRS) officer, served as ED chief from 2018
until September 15, 2023.
● His tenure at ED was marked by controversies, with accusations of the agency being used
against opposition leaders.
● He received multiple extensions from the Union government, despite legal challenges.
● The Supreme Court ruled in July 2023 that his tenure must end on September 15, 2023, and
that no further extensions would be granted.
● The vacancy in EAC-PM arose after the death of its former chairman, Bibek Debroy, in
November 2024.
● Under Mishra’s leadership, ED pursued several high-profile cases under the Prevention of
Money Laundering Act (PMLA).
● Investigations included Congress leaders Sonia Gandhi, Rahul Gandhi, Robert Vadra, and
others like K. Shivakumar, Hemant Soren, Anil Deshmukh, Farooq Abdullah, and Omar
Abdullah.

Sunil Kakkar- First Indian employee on MSIL’s board as a whole-time director

● Sunil Kakkar has been appointed as Additional Director and Whole-Time Director, designated
as Director (Corporate Planning), effective April 1, 2025, for a three-year term ending March
31, 2028.
● He has over 35 years of experience with Maruti Suzuki India (MSIL) and previously served
as Senior Executive Officer and Head of Corporate Planning.

BRICS New Development Bank’s head Dilma Rousseff confirms her re-election
● Brazilian ex-President Dilma Rousseff has been re-elected to serve another term as the head
of the BRICS New Development Bank (NDB), a position she first assumed in March 2023.
● Her new term is set to last for five years.
● Rousseff, who served as Brazil’s president from 2011 to 2016, has continued her leadership
role in the international financial institution, focusing on development projects in BRICS
nations and beyond.
● The BRICS New Development Bank (NDB) was established in 2014 by the BRICS countries—
Brazil, Russia, India, China, and South Africa—as a multilateral development bank aimed at
supporting infrastructure and sustainable development projects in emerging economies.

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 Important Monthly Current Affairs Capsule – March 2025

Vikram Sahu to take over as the new Bank of America India Head, to replace Kaku Nakhate
● Vikram Sahu, who is currently heading global equity research for Bank of America in New
York, is set to succeed Kaku Nakhate as the US-based bank’s India country executive.
● Nakhate has been leading the bank’s India operations as country executive and CEO for the
past 15 years.
● Nakhate will continue as the CEO of Bank of America NA and will focus on the development of
senior current and future client relationships across India.
● He is set to superannuate in 2026.

Department of Economic Affairs Secretary Ajay Seth replaces Tuhin Kanta Pandey as New Finance
Secretary
● Ajay Seth, Secretary of the Department of Economic Affairs (DEA), has been appointed
as India’s new Finance Secretary.
● The appointment was confirmed by an official Personnel Ministry order.
● Tuhin Kanta Pandey, the former Finance Secretary, has been appointed as the Chairperson
of the Securities and Exchange Board of India (SEBI).
● Pandey succeeded Madhabi Puri Buch, who completed her tenure as SEBI’s first woman
chairperson on February 28, 2025.

S.K. Majumdar Appointed as Canara Bank’s New Executive Director

● S.K. Majumdar has been appointed as Executive Director of Canara Bank, effective March 24,
2025.
● The appointment was officially notified by the Ministry of Finance, Department of Financial
Services.
● Previously served as Chief Financial Officer (CFO) of Canara Bank.
● Holds qualifications as a Chartered Accountant (CA) and Cost Accountant.
Rahul Bhave Appointed as Industrial Finance Corporation of India’s New Managing Director & Chief
Executive Officer
● Rahul Bhave has been appointed as the Managing Director & Chief Executive Officer (MD &
CEO) of Industrial Finance Corporation of India Ltd.
● His tenure will be for three years, as per the government order approved by the Appointments
Committee of the Cabinet (ACC), chaired by the Prime Minister.
● Bhave previously served as Deputy Managing Director at IFCI Ltd.

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 Important Monthly Current Affairs Capsule – March 2025

About IFCI:
● It was established in 1948 as a statutory corporation to provide long-term finance to industries.
● IFCI is a non-banking financial company (NBFC) that is regulated by the Reserve Bank of
India (RBI).

Airtel’s Gopal Vittal elected as Global System for Mobile Communications Association chairman
● Gopal Vittal, Vice Chairman and Managing Director of Bharti Airtel, has been elected
as Chairman of the Board of the Global System for Mobile Communications Association
(GSMA).
● He is the second Indian to hold this position, following Sunil Mittal.
● Vittal took over as Acting Chair in February 2024 after the resignation of José Maria Álvares-
Pallete, Chairman & CEO of Telefónica.
● Before this role, he was Deputy Chair of GSMA and had previously served as a board
member during 2019-2020.
● His term as Chairman will continue until the end of 2026.

Netumbo Nandi-Ndaitwah sworn in as Namibia’s first female president

● Netumbo Nandi-Ndaitwah was sworn in as Namibia’s first female president and only
the second directly elected female leader in Africa (after Liberia’s Ellen Johnson Sirleaf).
● She is 72 years old, and won the November 2023 election with 58% of the vote.
● She is also a longtime loyalist of SWAPO (South West Africa People’s Organisation), which
has ruled since Namibia’s independence in 1990.
● She Joined SWAPO at age 14 when it was a liberation movement fighting South Africa’s
apartheid regime.
About Namibia:
● Capital: Windhoek
● Currency: Namibian Dollar (NAD)
● President: Netumbo Nandi-Ndaitwah

Justice Harish Tandon to take oath as Chief Justice of Orissa High Court on March 26, 2025
● The swearing-in-ceremony of Calcutta High Court Judge Justice Harish Tandon as the Chief
Justice of Orissa High Court.

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 Important Monthly Current Affairs Capsule – March 2025

● Odisha Governor Dr. Hari Babu Kambhampatiwill administer the oath of the office to the Chief
Justice-designate at the eastern side lawn (Old Building) of High Court of Orissa in Cuttack.
● It is to be noted here that on the recommendation of the Supreme Court Collegium, President
Droupadi Murmu has appointed Justice Harish Tandon as the new Orissa High Court Chief
Justice, which remained vacant since January 19 after Justice Chakradhari Sharan
Singh retired from the Odisha High Court.
● Since then, Justice Arindam Sinha has been performing the duties as the acting Chief Justice.

Shri Ashok Singh Thakur elected as Chairman of Indian National Trust for Art and Cultural Heritage
● The AGM of the Indian National Trust for Art and Cultural Heritage (INTACH) was held on
22nd March 2025 at the Head Office in New Delhi.
● The elections were held successfully for the post of Chairman and Governing Council
members.
● After following due procedure, the results were declared, and Shri Ashok Singh Thakur was
elected as Chairman for a period of three years.
About INTACH:
● INTACH was founded on 27th January 1984 and is registered under the Societies
Registration Act (1860).
● Its mandate includes heritage conservation, environmental preservation, and raising
awareness about India’s cultural heritage.
● It also provides financial and technical support for preservation efforts and cultural initiatives.
● The INTACH Charter, adopted in 2004, serves as a guiding document for heritage
conservation.

Tata Motors Signs Vicky Kaushal as Brand Ambassador for Passenger and Electric Vehicles
● Tata Motors has partnered with Bollywood actor Vicky Kaushal to represent its passenger and
electric vehicle lineup.
● The collaboration was announced in Mumbai as part of the company’s broader marketing
strategy.
● The partnership launched with the “Take the Curvv” campaign, promoting the new Tata Curvv
SUV during the Indian Premier League (IPL) season.
● The campaign includes 20-second commercials showcasing the SUV’s features and design.

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 Important Monthly Current Affairs Capsule – March 2025

Parminder Chopra takes additional charge as Chairman and Managing Director of REC Limited
● The Indian government has appointed Smt. Parminder Chopra, the current Chairman and
Managing Director (CMD) of Power Finance Corporation Ltd. (PFC), to additionally serve as
the CMD of REC Ltd.
● According to a regulatory filing, the Ministry of Power issued an office order on March 20,
2025, appointing Chopra to the role with immediate effect for a period of three months or until
further orders.
● Chopra’s appointment follows the completion of Vivek Kumar Dewangan’s tenure as CMD of
REC Limited.
● Dewangan stepped down after completing a combined seven-year tenure at the Ministry of
Power and REC.
● She became the first woman to lead PFC as its CMD on August 14, 2023.

L&T promotes Subramanian Sarma to Deputy Managing Director & President

● Subramanian Sarma has been appointed as Deputy Managing Director and President of
Larsen & Toubro Ltd. (L&T).
● His new role will be effective from April 2, 2025, and his tenure has been extended
until February 3, 2028.

Reserve Bank of India appoints Indranil Bhattacharyya as new Executive Director

● Indranil Bhattacharyya has been appointed as Executive Director (ED) of the Reserve Bank of
India (RBI), effective March 19, 2025.
● He will oversee the Department of Economic and Policy Research (DEPR).
● Research Interests: Monetary theory, Financial markets, Market microstructure, Fiscal policy
● Previous Position: Adviser in RBI’s Monetary Policy Department.
● In March,2025 Ajit Ratnakar Joshi was also appointed as an Executive Director (ED) to
oversee the Department of Statistics and Information Management and the Financial Stability
Department.

Edelweiss Asset Reconstruction Company Appoints Mythili Balasubramanian As Interim Managing

Director & Chief Executive Officer

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 Important Monthly Current Affairs Capsule – March 2025

● Mythili Balasubramanian has been appointed as Interim Managing Director &

CEO of Edelweiss Asset Reconstruction Company (EARC), effective immediately until 30
September 2025.
● She has been with EARC for nearly five years and brings over four decades of
experience in banking, NPA resolution, and IBC processes.
● The Board of Directors has formed a Search Committee to identify the next MD & CEO,
with Korn Ferry, a global executive search firm, leading the selection process.
● An asset reconstruction company is a special type of financial institution that buys the debtors
of the bank at a mutually agreed value and attempts to recover the debts or associated
securities by itself.
● The asset reconstruction companies or ARCs are registered under the RBI and regulated
under the Securitisation and Reconstruction of Financial Assets and Enforcement of
Securities Interest Act, 2002 (SARFAESI Act, 2002).

Insurance Regulatory and Development Authority of India (IRDAI) appoints 5 new members to
Insurance Advisory Committee
● Insurance Regulatory and Development Authority of India (IRDAI) has reconstituted the
Insurance Advisory Committee, appointing five new members.
● The appointments are made under Section 25 of the IRDA Act, 1999, and Regulation 3A of
the IRDA (Insurance Advisory Committee) Regulations, 2000.
● The new members are:
▪ MR Kumar – Former LIC Chairman, now Non-Executive Chairman of Bank of India
▪ Dinesh Kumar Khara – Former SBI Chairman
▪ Visakha Mule – CEO of Aditya Birla Capital
▪ Nilesh Shah – MD, Kotak Mahindra Asset Management Company
▪ Kotak Ellis G Vaidyan – Former CMD, GIC Re, Independent Director on Air India &
Tata AIA Life boards
● The Insurance Advisory Committee represents commerce, industry, and consumer groups.

Anuj Kumar Singh Takes Charge as Joint Secretary, Union Public Service Commission (UPSC)
● Anuj Kumar Singh, an Indian Railway Service of Electrical Engineers (IRSEE) officer from
the 2009 batch, has been selected for central deputation and appointed as the Joint Secretary
(Director level) in the Union Public Service Commission (UPSC), Delhi.

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 Important Monthly Current Affairs Capsule – March 2025

● The Ministry of Railways recommended his appointment for a five-year term.

● An official order from the Department of Personnel and Training (DoPT), issued on March 18,
2025, confirmed Singh’s new role.
● Under the central staffing scheme, he will serve for five years from the date he assumes
charge or until further orders.
● With extensive experience in Indian Railways, Singh will contribute his expertise to the UPSC,
which is responsible for recruiting candidates for civil services positions across India.

Tuhin Kanta Pandey Becomes Securities and Exchange Board of India (SEBI) Chairman, To Serve
Until 2027
● Tuhin Kanta Pandey has been appointed as the new Chairman of the Securities and Exchange
Board of India (SEBI) for a three-year term, following approval from the Appointments Committee of the
Cabinet.
● He succeeds Madhabi Puri Buch, whose tenure began on March 2, 2022, and concludes on
February 28, 2025.
● Buch made history as SEBI’s first woman chairperson, serving a full three-year term.

New Asian Development Bank President Masato Kanda Assumes Office

● Masato Kanda assumed office as the 11th President of the Asian Development Bank (ADB) on
February 24, 2025.
● He succeeded Masatsugu Asakawa, who retired after a five-year tenure.
● Kanda was unanimously selected by ADB's 69-member board.

Ajay Seth Takes Additional Charge as Revenue Secretary as Tuhin Kanta Pandey Moves to Securities
and Exchange Board of India
● Ajay Seth, DEA Secretary, has been given additional charge as Revenue Secretary following
Tuhin Kanta Pandey’s appointment as Securities and Exchange Board of India’s Chairperson.
● Seth will hold the position until a regular appointment is made or until further orders, as per the
ACC order.
● Ajay Seth, a 1987-batch IAS officer of the Karnataka cadre, has been DEA Secretary since 2021,
focusing on economic growth, fiscal management, infrastructure financing, and digital payments.

Manan Kumar Mishra Re-elected as Bar Council of India Chairman for Record 7th Term

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 Important Monthly Current Affairs Capsule – March 2025

● Manan Kumar Mishra, Senior Advocate of the Supreme Court of India and Rajya Sabha MP, has
been re-elected unopposed as the Chairman of the Bar Council of India (BCI) for a historic 7th
consecutive term.
● He won the Bihar State Bar Council elections for the 7th consecutive time and was re-elected
unopposed as a BCI member from Bihar for the 3rd term last year.
● He announced that the Advocates Amendment Bill would be introduced with provisions for
advocates' well-being, ensuring no contentious elements are included.
The BCI Vice-Chairman election will take place on March 4, 2025, with S. Prabhakaran (Tamil Nadu &
Puducherry) and Ved Prakash Sharma (Delhi) contesting.

Uruguay’s new leftist President Yamandú Orsi takes office

● Yamandu Orsi was sworn in as Uruguay’s president on March 1, 2025, for a five-year term.
● He is from the left-wing coalition Broad Front and won the election by defeating center-right rival
Alvaro Delgado in a closely contested race.
● Born in June 1967, Orsi previously worked as a school history teacher before becoming active in
local politics.
● He later served as the mayor of Canelones, Uruguay’s second-most populous department.
About Uruguay:
● Capital: Montevideo
● Currency: Uruguayan Peso (UYU)
● President: Yamandú Orsi (since March 1, 2025)

RBL Bank appoints Agrawal as president of branch banking, Pari as Chief Operations Officer
● RBL Bank has appointed Narendra Agrawal as President & Head of Branch Banking and Retail
Liabilities and T S Pari as Chief Operations Officer (COO).
● Narendra Agrawal brings over 25 years of experience in deposits, lending, distribution, and
payments.
● His focus will be on deposit growth, enhancing customer experience through an omnichannel
strategy, and aligning with the bank’s long-term growth plan.
● T S Pari, with 25+ years of leadership experience in foreign and private sector banks, will
oversee efficiency, customer-centric operations, and risk management.

EaseMyTrip Chief Executive Officer Rikant Pittie Appointed Confederation of Indian Industry (CII) Delhi

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 Important Monthly Current Affairs Capsule – March 2025

Chairman For 2025-26

● Rikant Pittie, CEO & Co-founder of EaseMyTrip, has been appointed as Chairman of the
Confederation of Indian Industry (CII) Delhi State for 2025-26.
● This marks the first time a unicorn co-founder has been given this position.
● He takes over from Jaideep Ahuja, Managing Director of Ahuja Residences.
● As Chairman, Pittie will focus on business growth, policy advocacy, digital transformation, and
strengthening industry-government collaboration.

Tyre major MRF announces Shubman Gill as brand ambassador

● Tyre major MRF has signed cricketer Shubman Gill, Team India's Vice Captain in the ICC
Champions Cup, as its brand ambassador.
● Shubman Gill, who was recently announced as the No 1 ranked ODI batter in the ICC Men’s
Player rankings, joins a group of elite cricketers who have been associated with the MRF name.
● Shubman Gill’s association was announced by MRF as a partnership that will extend across all
future cricket tournaments.

Former Tank Commander Appointed As Israel's New Military Chief

● Eyal Zamir becomes Israel's new armed forces chief.
● He replaced Lieutenant General Herzi Halevi, who resigned after acknowledging failures in
preventing Hamas's October 7, 2023 attack.
● Takes charge at a critical moment in Israel's war with Hamas.
● The ceasefire that started on January 19 remains fragile.
● Oversees operations in the occupied West Bank, where tanks have been deployed for the first
time in 20 years.

Reserve Bank of India appoints Dr Ajit Ratnakar Joshi as new Executive Director
● Dr Ajit Ratnakar Joshi has been appointed as Executive Director (ED) of the RBI, effective March
3, 2025.
● He will oversee the Department of Statistics and Information Management and the Financial
Stability Department.
● Previously served as Principal Adviser in the Department of Statistics and Information
Management.
● Over 30 years of experience in statistics, information technology, and cyber risk management.

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 Important Monthly Current Affairs Capsule – March 2025

● Former faculty member at the Institute of Development and Research in Banking Technology,
Hyderabad.

Central Government Appoints IAS Ajay Bhadoo as Chief Executive Officer, Government e-Marketplace
● Shri Ajay Bhadoo has been appointed as the Chief Executive Officer (CEO) of Government e
Marketplace (GeM), effective March 3, 2025.
● He will continue his role as Additional Secretary in the Department of Commerce.
● GeM, India’s largest e-marketplace for government procurement, is transitioning to a next-
generation digital marketplace powered by Tata Consultancy Services (TCS).
● Currently, GeM has recorded a Gross Merchandise Value (GMV) of ₹4.58 lakh crore, reflecting a
28.65% year-on-year growth.
● Shri Bhadoo is a 1999-batch Indian Administrative Service (IAS) officer from the Gujarat cadre,
with over two decades of experience in policy formulation and implementation.

HDFC Securities Strengthens its Leadership Team with Appointment of Anand Mathur as the New Chief
Financial Officer
● HDFC Securities, a wholly owned subsidiary of HDFC Bank, has appointed Anand Mathur as the
new Chief Financial Officer (CFO).
● Anand Mathur will lead the company’s financial strategy and operations, leveraging his extensive
experience to drive sustainable growth.
● His appointment is expected to strengthen HDFC Securities' market position and enhance its
capabilities in delivering comprehensive financial solutions.
● Senior Vice President for Finance at HDFC Bank – Led strategic financial initiatives.

Federal Bank appoints Vidya Balan as its Brand Ambassador

● Federal Bank, a leading private sector bank, has appointed Bollywood actress Vidya Balan as its
first-ever brand ambassador.
● The announcement was made during a special ceremony in Mumbai, where Vidya Balan was
presented with a commemorative memento by Mr. K.V.S. Manian, Managing Director & CEO of Federal
Bank.
● This partnership marks a strategic evolution for Federal Bank, aligning with its vision of brand
transformation and enhanced market presence.

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 Important Monthly Current Affairs Capsule – March 2025

● M V S Murthy, Chief Marketing Officer of Federal Bank, highlighted Vidya Balan’s versatility, pan-
India appeal, and deep understanding of her roles, which align with the bank’s customer-centric
approach.

Saina Nehwal becomes Strategic Investor and Brand Ambassador for Naarica
● Naarica, a leading brand in menstrual hygiene, has announced a strategic partnership with
badminton icon Saina Nehwal, who will join as both an investor and brand ambassador.
● Mission: Redefining intimate wear and increasing access to sustainable, high-performance
menstrual care for women in India.
● Market Challenge: Despite the menstrual hygiene market growing at 16% CAGR (projected to
reach $522 million by 2025), nearly 50% of menstruating women in India still lack proper sanitary
products.
● Solution: Naarica offers eco-friendly, comfortable, and lab-certified menstrual hygiene solutions,
including period underwear as an alternative to traditional pads.

Britannia Industries CMO Amit Doshi to join PhonePe as Chief Marketing Officer
● PhonePe, one of India’s leading fintech companies, has appointed Amit Doshi as its new Chief
Marketing Officer (CMO).
● The appointment comes as PhonePe prepares for its much-anticipated IPO, aiming to strengthen
its market presence and brand strategy.
● Doshi’s appointment underscores PhonePe’s commitment to scaling its brand presence.
● He will spearhead marketing initiatives to enhance user acquisition, brand trust, and market
leadership.
● His extensive experience in brand-building is expected to contribute significantly to PhonePe’s
IPO success and future growth.

Fizz, fame, and Vicky Kaushal: Appy Fizz unveils ‘The One, The Only’ campaign
● Parle Agro has roped in Vicky Kaushal as the new face of Appy Fizz, adding his charisma and
star power to the brand’s identity.
● The latest campaign, ‘The One, The Only’, reinforces Appy Fizz’s unique positioning as a
standout beverage in the market.
● TVC Features Vicky Kaushal: The campaign’s TV commercial (TVC) presents Kaushal
embodying the brand’s bold, magnetic persona, strengthening its youth appeal.

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 Important Monthly Current Affairs Capsule – March 2025

● Brand Positioning: Appy Fizz continues to be marketed as an unconventional, aspirational, and

one-of-a-kind drink.
● Marketing Strategy: Parle Agro is doubling down on celebrity endorsements and engaging
storytelling to maintain market dominance.

Reserve Bank of India grants only one-year extension to IndusInd Bank Chief Executive Officer Sumant
Kathpalia
● The Reserve Bank of India (RBI) has granted a one-year extension to Sumant Kathpalia, MD &
CEO of IndusInd Bank, despite the Board’s request for a three-year reappointment.
● This is the second consecutive time that the RBI has approved a shorter tenure instead of a full
three-year term.
● IndusInd Bank, in an exchange notification, confirmed RBI’s approval for Kathpalia’s
reappointment from March 24, 2025, to March 23, 2026.
About IndusInd Bank:
● Headquarters: Mumbai, Maharashtra, India
● CEO: Sumant Kathpalia
● Founded Year: 1994
● Slogan: "We Make You Feel Richer"

Rajeev Shukla, Ashish Shelar get important roles in Asian Cricket Council
● Rajeev Shukla, BCCI vice-president, has been appointed as an Executive Board Member on the
Asian Cricket Council (ACC) Board.
● Shukla fills the vacant spot after Jay Shah stepped down as ACC President following his
unopposed election as International Cricket Council (ICC) chairman on December 1, 2024.
● Ashish Shelar, former BCCI treasurer, has been appointed as the BCCI representative on the
ACC Board as an Ex-Officio Board Member.
● Sri Lanka Cricket Board chief Shammi Silva has taken over as the President of the ACC following
Jay Shah's departure.
● BCCI secretary Devajit Saikia extended best wishes to Rajeev Shukla and Ashish Shelar for their
new roles in the ACC.

Vikas Kaushal Becomes Hindustan Petroleum Chairman and Managing Director (CMD) After Leading
Kearney India

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 Important Monthly Current Affairs Capsule – March 2025

● Vikas Kaushal has been appointed as the Chairman and Managing Director (CMD) of HPCL for a
five-year term.
● He replaced Rajneesh Narang, who was handling the additional charge of CMD since September
1, 2024.
● Over 30 years of experience in energy, oil & gas, and power sectors.
● Served two terms on Kearney’s global board of directors and was the only Indian considered for
the selection.
● Worked as Managing Director and Country Head for Kearney India for five years.
Mark Carney wins race to replace Justin Trudeau as Canada's Prime Minister
● Mark Carney has been announced as the next Liberal Party leader and the 24th Prime Minister
of Canada, succeeding Justin Trudeau.
● The announcement was made by Liberal Party President Sachit Mehra after Carney won the
leadership race with 131,674 votes (85.9%).
● His competitors included Chrystia Freeland (11,134 votes), Karina Gould (4,785 votes), and
Frank Baylis (4,038 votes).

Kotak Mahindra Bank appoints Neeraj Naidu as Chief Information Security Officer
● Kotak Mahindra Bank has appointed Neeraj Naidu as its Chief Information Security Officer
(CISO).
● Brings over 20 years of expertise in cybersecurity and IT infrastructure.
● Served as CISO at IDFC First Bank, where he strengthened the bank’s security framework.
● Held leadership roles as Vice President & Head of IT Infrastructure at Capital First Ltd., Program
Manager at NSEIT Ltd., and Project Manager at Nayamode USA, Inc.
About Kotak Mahindra Bank:
● Founded: 2003
● Headquarters: Mumbai, Maharashtra, India
● Managing Director & CEO: Ashok Vaswani
● Tagline: Let’s Make Money Simple
● Merger: ING Vysya Bank merged with Kotak Mahindra Bank in 2015

ICICI Bank appoints Kamal Wali as Head of Security Operations

● ICICI Bank Limited has appointed Kamal Wali as the Head of its Security Operations Center,
bringing over 18 years of cybersecurity and IT operations expertise to the institution.

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 Important Monthly Current Affairs Capsule – March 2025

● Responsible for overseeing security operations, risk mitigation, and enhancing digital resilience.
● Previously held leadership roles at Jio Platforms Limited, Wipro, IBM, Intex Technologies, and
Spanco Telesystems.
● Experienced in managing security frameworks, implementing complex projects, and developing
operational security strategies.
About ICICI Bank:
● Founded: 1994
● Headquarters: Mumbai, Maharashtra, India
● Managing Director & CEO: Sandeep Bakhshi
● Tagline: "Hum Hai Na, Khayal Apka"

Central government clears appointment of Justice Joymalya Bagchi to Supreme Court

● Justice Soumen Sen, Justice Ujjal Bhuyan, and Justice Sandeep Mehta have been appointed as
judges of the Supreme Court.
● Justice Bagchi is set to become the Chief Justice of India (CJI) in 2031.
● The appointments were approved by the Central Government following the recommendation of
the Supreme Court Collegium.
● With these appointments, the Supreme Court has reached its full strength of 34 judges.
● Justice Bagchi, currently serving as Chief Justice of the Telangana High Court, will have a tenure
of nearly seven years in the apex court before assuming the role of CJI.
About Supreme Court of India:
● Established: January 28, 1950
● Location: New Delhi, India
● Chief Justice of India: Sanjiv Khanna
● Total Judges: 34 (including the CJI)
● Motto: "Yato Dharmastato Jayah"

Honda appoints Takashi Nakajima as new President & CEO of Honda Cars India
● Honda Motor Company has appointed Takashi Nakajima as the new President and CEO of
Honda Cars India (HCIL), effective April 1, 2025.
● Nakajima succeeds Takuya Tsumura, who is returning to Honda’s headquarters in Japan after a
three-year tenure in India.
● Nakajima joined Honda in 1994 and has 30 years of experience in the automotive industry.

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 Important Monthly Current Affairs Capsule – March 2025

● Previously served as President of Honda Motor Russia (since 2021) and worked in Japan, China,
Spain, and the Czech Republic in roles related to business planning, product planning, marketing, and
sales promotion.

Nissan Chief Executive Officer (CEO), Makoto Uchida to step down on April 1, 2025 planning officer
Espinosa named successor
● Nissan Motor Co. is set to appoint Ivan Espinosa as its new Chief Executive Officer (CEO),
replacing Makoto Uchida, who will step down at the end of March, 2025.
● Espinosa, a company insider who joined Nissan in 2003, currently serves as Chief Planning
Officer.
● Espinosa faces a tough task in stabilizing Nissan's struggling business and securing a financial
backer.
● The company has been in turmoil since the 2018 ouster of Carlos Ghosn, and its recent failed
merger with Honda Motor Co. has further impacted its standing.

Former Reserve Bank of India deputy governor MK Jain to join Reliance Industries as advisor
● MK Jain, former deputy governor of the Reserve Bank of India (RBI), is set to join Reliance
Industries as an advisor.
● The conglomerate, controlled by Mukesh Ambani, is strengthening its leadership by bringing in
senior talent from the banking sector.
● Jain previously chaired an RBI-appointed standing external advisory committee to assess
applications for universal and small finance banks.
● He retired from the RBI in June 2023 and is credited with turning around IDBI Bank and Indian
Bank.

Atul Kumar Goel assumes charge as Chief Executive of Indian Banks’ Association (IBA)
● Atul Kumar Goel has assumed charge as Chief Executive (CE) of the Indian Banks’ Association
(IBA).
● He served as MD & CEO of Punjab National Bank (PNB) from February 2022 to December 2024
and was Chairman of IBA for two terms in 2021-22 and 2022-23.
● His predecessor, Sunil Mehta, was MD & CEO of PNB from 2017 to 2019 and served as IBA CE
from January 2020 to September 2024.
● Goel is a qualified Chartered Accountant with 30 years of banking experience.

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 Important Monthly Current Affairs Capsule – March 2025

● He has worked at Allahabad Bank (now Indian Bank), Union Bank of India as Executive Director,
UCO Bank as MD & CEO, and PNB as MD & CEO.
About Indian Banks' Association (IBA):
● Chairman: M.V. Rao (MD and CEO of Central Bank of India)
● Chief Executive: Atul Kumar Goel
● Founded: 1946
● Headquarters: Mumbai, Maharashtra
● Member: 247 (These include: Public Sector Banks, Private Sector Banks, Foreign Banks with
Indian Operations, Cooperative Banks, Financial Institutions)

Arun Mammen elected as new chairman of Automotive Tyre Manufacturers' Association

● Arun Mammen, Vice Chairman and Managing Director of MRF Ltd, has been elected Chairman
of the Automotive Tyre Manufacturers' Association (ATMA).
● Hiroshi Yoshizane, Managing Director of Bridgestone India, has been named Vice Chairman of
ATMA.
● Mammen takes over ATMA's leadership ahead of its 50th anniversary in 2025.
● Education: Graduate of Madras Christian College, MBA from Ashland University, USA.
About ATMA:
● Founded in: 1975.
● Represents: India’s ₹90,000 crore (US$11 billion) automotive tyre industry.
● Members: Apollo Tyres, Bridgestone India, Ceat Tyres, Goodyear India, JK Tyre, MRF Ltd
● These six companies collectively account for over 90% of India’s tyre production.

DEFENCE NEWS
Indian Army inks deal with L&T Limited to procure critical CBRN defence equipment
● The Indian Army has signed a contract with Larsen & Toubro (L&T) on February 25, 2025, to
procure 223 Automatic Chemical Agent Detection and Alarm (ACADA) systems at a cost of ₹80.43
crore under the Buy Indian (Indigenously Designed, Developed, and Manufactured - IDDM) category.
● Enhanced CBRN Capabilities: The induction of ACADA systems will significantly bolster the
Army's defensive measures against Chemical, Biological, Radiological, and Nuclear (CBRN) threats.
● These systems are crucial for both operational scenarios and peacetime applications, particularly
in disaster relief operations related to industrial accidents.

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 Important Monthly Current Affairs Capsule – March 2025

NASA and Nokia to launch the first cellular network in Space

● ASA's IM-2 mission, launched February 26, 2025, is a 10-day lunar expedition
targeting the south pole’s Mons Mouton to mine water ice and rare minerals.
● It will deploy Nokia’s 4G/LTE network for real-time communication, paving the
way for sustainable lunar bases and future Martian missions.
● Its primary goal is to mine for water ice and rare minerals critical for future lunar
bases.

Defence Minister Rajnath Singh discusses defence ties with Princess Astrid of Belgium
● Defence Minister Rajnath Singh discussed the possibility of defence engagements in the Indo-
Pacific with Princess Astrid of Belgium and Defence Minister Theo Francken.
● Both sides also interacted on ways to enhance defence industrial cooperation, a statement
stated.

Defence Secretary presents report of the Empowered Committee to Raksha Mantri for Capability
Enhancement of Indian Air Force (IAF)
● Defence Secretary Shri Rajesh Kumar Singh presented the report of the Empowered Committee
for Capability Enhancement of the Indian Air Force (IAF) to Raksha Mantri Shri Rajnath Singh in New
Delhi on March 03, 2025.
● The Committee identified key thrust areas and made recommendations for short, medium, and
long-term implementation to achieve the IAF's capability enhancement goals in an optimal manner.
● The report emphasizes the need to enhance ‘Aatmanirbharta’ in the Aerospace domain, with
private sector participation complementing the efforts of DPSUs and DRDO.
About Ministry of Defence:
● Cabinet Minister: Rajnath Singh
● Minister of State (MoS): Ajay Bhatt

Indian Naval Ship Kuthar Arrives in Colombo,Sri Lanka Strengthening Maritime Ties Under Eastern
Naval Command's Indian Ocean Mission
● Towards strengthening maritime ties, INS Kuthar, Eastern Fleet Ship under the aegis of Eastern
Naval Command is on mission deployment in the Indian Ocean Region and arrived at Colombo, Sri
Lanka.

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 Important Monthly Current Affairs Capsule – March 2025

● Commander Nitin Sharma, the Commanding Officer of the ship called on RAdm MHCJ Silva,
Commander Western Naval Area, Sri Lanka Navy.
● As part of the visit, personnel from both navies will engage in professional interactions,
knowledge-sharing sessions, and joint activities to enhance operational synergy between the two
navies.
● The visit underscores the longstanding partnership between the two nations, furthering
cooperation under GoI’s ‘Neighbourhood First’ and ‘Security and Growth for All in the Region (SAGAR)’
initiatives.

Defence Research and Development Organisation (DRDO) conducts trials of life-support system for
pilots onboard Tejas jets
● The Defence Bio-Engineering & Electro Medical Laboratory (DEBEL), a Bengaluru-based lab
under the Defence Research and Development Organisation (DRDO), successfully conducted high-
altitude trials of the Indigenous On-Board Oxygen Generating System (OBOGS)-based Integrated Life
Support System (ILSS) for the LCA Tejas aircraft on March 4, 2025.
● The trials took place on the LCA-Prototype Vehicle-3 of Hindustan Aeronautics Limited
(HAL)/Aeronautical Development Agency (ADA).
● The OBOGS-based ILSS is designed to generate and regulate breathable oxygen for pilots
during flight, eliminating dependence on traditional liquid oxygen cylinders.

Ministry of Defence signs $ 248 million Deal for procurement of engines for T-72 Tanks for Indian Army
● The Ministry of Defence (MoD) has signed a $248 million deal with Rosoboronexport (RoE),
Russian Federation.
● The contract involves procuring 1000 HP engines for T-72 tanks in fully formed, completely
knocked down (CKD), and semi knocked down (SKD) conditions.
● The deal includes ToT from Rosoboronexport (RoE) to Armoured Vehicles Nigam Limited (AVNL)
(Heavy Vehicle Factory, Avadi, Chennai).
● This enables integration and licensed production of engines in India under the "Make in India"
initiative.

Indian Navy’s Training Squadron Engages in PASSEX and Bilateral Exercises with Royal Thai Navy
● The visit of First Training Squadron (1TS) of the Indian Navy comprising the INS Sujata, INS
Shardul and ICGS Veera to Phuket Deep Sea Port in Thailand concluded on March 7, 2025.

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 Important Monthly Current Affairs Capsule – March 2025

● As part of the ongoing training deployment of the 1TS to South East Asia, INS Shardul, INS
Sujata and ICGS Veera, had arrived at Phuket Deep Sea Port in Thailand on March 1, 2025.
● PASSEX Exercise: Concluded with coordinated tactical manoeuvres and an exchange of sea
riders with HTMS Huahin of the Royal Thai Navy (RTN) on 4th March 2025.

Indian Navy successfully concludes TROPEX 2025, strengthening maritime readiness

● India successfully conducted the Theatre Level Operational Readiness Exercise (TROPEX) 2025
to enhance maritime security.
● The biennial exercise involved the Indian Navy, Army, Air Force, and Coast Guard in a large-
scale military drill.
● Held from January to March 2025, covering vast areas of the Indian Ocean Region (IOR).
● Largest Naval Exercise: Included 65 warships, nine submarines, and over 80 aircraft.
● Amphibious operations (AMPHEX), cyber warfare, electronic warfare, and live weapon firings.
● Air Force Assets: Sukhoi-30, Jaguar fighters, C-130 transport aircraft, AWACS surveillance
planes.

Indian Army Contingent Departs for Joint Special Forces Exercise ‘Khanjar-XII’ with Kyrgyzstan
● The 12th edition of the India-Kyrgyzstan Joint Special Forces Exercise KHANJAR-XII is set to
take place in Kyrgyzstan from 10 March to 23 March 2025.
● Since its inception in 2011, Ex KHANJAR XII has evolved into an annual training event.
● The alternating venues between India and Kyrgyzstan reflect the unique dimension of the thriving
strategic relationship.
● The last edition of the same exercise was conducted in India in January 2024.
● The Indian contingent is represented by troops from The Parachute Regiment (Special Forces)
and the Kyrgyzstan contingent is represented by Kyrgyz Scorpion Brigade.

Indian Navy’s INS Imphal to Enhance Bilateral Ties at Mauritius National Day 2025
● Indian Naval Ship (INS) Imphal arrived at Port Louis, Mauritius, for its maiden port call ahead of
Mauritius’ 57th National Day celebrations on March 12, 2025.
● Continues the tradition of Indian naval participation in Mauritius’ National Day events, reinforcing
strong maritime ties.
● Will contribute a marching contingent, a naval band, and a helicopter for the National Day Parade
flypast at Champs de Mars.

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 Important Monthly Current Affairs Capsule – March 2025

● Prime Minister Narendra Modi will attend the event as Chief Guest.
● The warship’s visit from March 10-14 includes bilateral engagements, such as cross-training,
friendly sports fixtures, and community outreach programs.

India-Bangladesh joint patrol 'Corpat' and bilateral exercise 'Bangosagar' begin in Bay of Bengal
● The 6th Coordinated Patrol (CORPAT) and 4th BONGOSAGAR bilateral exercise between the
Indian Navy and Bangladesh Navy commenced on March 10, 2025, and will continue until March 12,
2025, in the Bay of Bengal, as per a statement by Inter Services Public Relations (ISPR).
● Regular patrols and drills have enhanced interoperability and cooperation between the two naval
forces, ensuring better maritime security and economic development in the region.

Ministry of Defence-Bharat Electronics Limited Sign Contract For Procuring Low-Level Transportable
Radar For Rs 2,906 Crore
● As part of the Central Government’s efforts to strengthen indigenous defence capabilities, the
Ministry of Defence has signed a capital acquisition contract with Bharat Electronics Limited (BEL),
Ghaziabad for procuring Low-Level Transportable Radar (LLTR) – Ashwini at a cost of ₹2,906 crore.
● The radar is indigenously designed and developed by the Electronics & Radar Development
Establishment (DRDO).
● The contract was signed in New Delhi by Defence Secretary Rajesh Kumar Singh.
● LLTR (Ashwini) is an active electronically scanned phased array radar based on solid-state
technology.

Armed Forces Medical Services (AFMS) and National Institute of Mental Health and Neurosciences
(NIMHANS) Sign Memorandum of Understanding (MoU) to Enhance Mental Health Support for Armed
Forces
● In a major step towards improving the mental well-being of defense personnel, the Armed Forces
Medical Services (AFMS) and the National Institute of Mental Health and Neurosciences
(NIMHANS) have signed a Memorandum of Understanding (MoU) for collaborative research and
training in mental health care.

Indian and French Navies to hold 23rd edition of VARUNA naval exercise
● The Indian Navy and the French Navy will carry out the 23rd edition of their bilateral naval
exercise, VARUNA, from March 19 to 22, 2025

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 Important Monthly Current Affairs Capsule – March 2025

● First Conducted: 1993 (as part of Indo-French cooperation), renamed as Varuna in 2001
● The exercise has been an important part of India-France maritime cooperation since it began
in 2001 and reflects the strong naval partnership between the two countries.
● According to an official press release, VARUNA 2025 will focus on improving coordination
and cooperation between the two navies.
● The exercise will include various drills and manoeuvres involving underwater, surface, and air
operations.
● Key warships and aircraft from both navies will take part, including India’s aircraft carrier INS
Vikrant and France’s aircraft carrier FS Charles de Gaulle.
● Other participants include fighter aircraft, destroyers, frigates, and an Indian Scorpene-class
submarine.
● The exercise will feature advanced air defence drills and fighter jet exercises, including mock air
combat between India’s MiG-29K and France’s Rafale-M jets.
Note :
Defence Exercises between India and France:
● Varuna – Naval exercise.
● Garuda – Air exercise.
● Shakti – Army exercise.

India, Australia agree to deepen interoperability across maritime, land and air domains
● The 9th edition of India-Australia Defence Policy Talks was held in New Delhi on March 17, 2025.
● The Indian delegation was headed by Joint Secretary Shri Amitabh Prasad, while the Australian
side was led by First Assistant Secretary International Policy Division, Department of Defence
Australia, Mr. Bernard Philip.
● Both sides welcomed sustained progress in bilateral defence cooperation, including the growing
frequency and complexity of defence exercises and exchanges.
● The meeting reviewed defence outcomes from previous ministerial and secretary-level
consultations and discussed cooperation priorities, including maritime domain awareness,
reciprocal information sharing, industry and science and technology collaboration, and defence
exercises.
● The 8th edition of Defence Policy Talks was held in 2023.
● As part of the visit, the Australian delegation will tour Mazagon Dock Shipbuilders Ltd in Mumbai.

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 Important Monthly Current Affairs Capsule – March 2025

● The Australian co-chair will also meet Defence Secretary Shri Rajesh Kumar Singh on March 18,
2025.

India-Bangladesh Naval Exercise ‘Bongosagar 2025’

● The India-Bangladesh Naval Exercise ‘Bongosagar 2025’ and the Coordinated Patrol were
conducted in the Bay of Bengal.
● The exercise aimed to enhance interoperability between the two navies, strengthening their
ability to respond collaboratively to maritime security challenges.
1. Participating Warships
● Indian Navy: INS Ranvir.
● Bangladesh Navy: BNS Abu Ubaidah.
2. Objectives of the Exercise
● Enhancing coordination between the Indian Navy and Bangladesh Navy.
● Strengthening maritime security cooperation.
● Improving tactical planning, coordination, and information sharing.

Keel-Laying Ceremony for Second Fleet Support Ship (FSS) – Strengthening India’s Maritime
Capabilities
● The keel-laying ceremony for the second Fleet Support Ship (FSS) was held at L&T Shipyard,
Kattupalli, Tamilnadu.
● This marks a significant step in India’s naval expansion under a contract signed in August
2023 between the Indian Navy and Hindustan Shipyard Limited (HSL) for the construction of five
Fleet Support Ships (FSS).
● Deliveries are set to begin by mid-2027, with two of these ships being built by L&T Shipyard to
enhance India’s shipbuilding capabilities.

India and Russia to Hold 14th Edition of INDRA Naval Exercise Off Chennai and Bay of Bengal from
March 28 to April 2, 2025
● India and Russia will conduct the 14th edition of their bilateral naval exercise, INDRA 2025,
from March 28 to April 2, 2025, off the coast of Chennai and in the Bay of Bengal.
● Since its inception in 2003, Exercise INDRA has played a key role i n strengthening naval
interoperability and operational coordination between the Indian Navy and Russian Navy.
Phases of the Exercise

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 Important Monthly Current Affairs Capsule – March 2025

Phase Dates Key Activities

Opening Ceremony, Subject Matter Expert

Harbour March 28-
Exchanges (SMEEs), Reciprocal Ship Visits,
Phase 30, 2025
Sports Events, Pre-Sail Briefings.

Tactical Manoeuvres, Live Weapon Firings, Anti-

March 31- Air Operations, Underway Replenishment,
Sea Phase
April 2, 2025 Helicopter Cross-Deck Landings, Exchange of
Sea Riders.
Participating Naval Assets

Indian Navy Russian Navy

INS Rana RFS Pechanga (Support

(Destroyer) Ship)

INS Kuthar
RFS Rezkiy (Frigate)
(Frigate)

P-8I (Maritime RFS Aldar

Patrol Aircraft) Tsydenzhapov (Corvette)

Chief Defence Staff General Anil Chauhan Inaugurates Techkriti 2025 at IIT Kanpur
● Chief of Defence Staff (CDS) General Anil Chauhan inaugurated Techkriti 2025, Asia’s
largest intercollegiate technical and entrepreneurial festival, at IIT Kanpur.
● The event serves as a platform for technological innovation, connecting scholars, industry
experts, and defence personnel to discuss advancements in cutting-edge technology.
● During a Fireside Chat, Gen Chauhan highlighted the need to modernize the Indian Armed
Forces by integrating Cybersecurity, Artificial Intelligence (AI), Quantum Computing, and
Cognitive Warfare.
● He urged young innovators to contribute to national security and technological self-reliance.
● Theme: “Panta Rhei” (Everything Flows) – representing the continuous evolution of
technology and innovation.

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 Important Monthly Current Affairs Capsule – March 2025

Indian Army Conducts Tri-Service Multi-Domain Warfare Exercise ‘Prachand Prahaar’ in Arunachal
Pradesh
● The Indian Army conducted the Tri-Service integrated multi-domain warfare exercise
‘Prachand Prahaar’ from March 25 to 27, 2025, in the high-altitude terrain of Arunachal
Pradesh.
● The exercise aimed to validate an integrated approach to surveillance, command and control,
and precision firepower, enhancing coordination between the Indian Army, Navy, and Air
Force.

India Launches ‘Operation Brahma’ for Myanmar Earthquake Relief

● Prime Minister Narendra Modi spoke with Myanmar’s Senior General Min Aung Hlaing,
assuring India’s humanitarian assistance following the devastating earthquake in Myanmar.
● India launched ‘Operation Brahma’, an emergency relief mission providing disaster relief,
search & rescue operations, and medical aid.

Ministry of Defence signs Rs 2,500-cr contracts for Nag anti-tank missile systems & 5,000 Light
Vehicles
● The Ministry of Defence (MoD) has signed a contract with Armoured Vehicles Nigam Limited
(AVNL) for the procurement of the Nag Missile System (NAMIS) Tracked version of the anti-
tank weapon platform, and with Force Motors Ltd and Mahindra & Mahindra Ltd for
around 5,000 Light Vehicles for the armed forces, at a total cost of around Rs 2,500 crore.
● These contracts have been inked under the Buy (Indian-Indigenously Designed, Developed
and Manufactured) category.
● This system will be operated by frontline mechanised infantry troops.
● The MoD stated that the NAMIS (Tracked) is one of the most “sophisticated” anti-tank weapon
systems.
● It is equipped with enemy armour with fire-and-forget anti-tank missiles and a sighting system
for enhanced firepower and lethality.
About Light Vehicles :
● Light Vehicles are designed with enhanced engine power to cater to a payload of 800 kg and
will provide mobility to the armed forces in all types of terrain and operational conditions.
● Light Vehicles are used to transport soldiers quickly and efficiently to forward locations.

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 Important Monthly Current Affairs Capsule – March 2025

● Their compact size allows them to navigate rough terrains that larger vehicles usually face
challenges in.
● They facilitate the movement of supplies, equipment, and ammunition to frontline units.

Ministry of Defence signs Rs 6,900 crore deals for procurement of artillery gun systems, vehicles
● The Ministry of Defence (MoD) has signed contracts with Bharat Forge Limited and Tata
Advanced Systems Limited for the procurement of 155mm/52 Calibre Advanced Towed
Artillery Gun Systems (ATAGS) and High Mobility Vehicle 6×6 Gun Towing Vehicles,
respectively, with a total contract value of approximately Rs 6,900 crore.
● The agreements were formalized in the presence of Defence Secretary Rajesh Kumar
Singh at South Block, New Delhi, marking a cumulative capital procurement contract value
of Rs 1.40 lakh crore in the ongoing Financial Year 2024-25.
● During the event, the Project Director of ATAGS from the Defence Research and
Development Organisation’s (DRDO) Armament Research and Development Establishment,
Pune, was honored by the Defence Secretary for his pivotal contribution to the project.

Defence Research and Development Organisation & Indian Navy Successfully Test Fired Indigenously
Developed Short-Range Surface-To-Air Missile
● The Defence Research and Development Organisation (DRDO) and the Indian
Navy successfully conducted a flight test of the Vertically-Launched Short-Range Surface-to-
Air Missile (VLSRSAM) from the Integrated Test Range (ITR), Chandipur, off the Odisha coast.
● The missile, indigenously developed, was launched from a land-based vertical
launcher against a high-speed aerial target at very close range and low altitude,
demonstrating its Near-Boundary-Low Altitude capability.
● During the test, the target was successfully destroyed, with the missile executing a high turn
rate, showcasing its agility, reliability, and pinpoint accuracy.
● The trial was conducted in combat configuration, incorporating all weapon system elements,
including the indigenous Radio Frequency seeker, Multi-Function Radar, and Weapon Control
System, which performed as expected.
● The performance validation was carried out using flight data captured by Range Instruments
developed at ITR Chandipur.
About DRDO:
● Founded: 1958

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 Important Monthly Current Affairs Capsule – March 2025

● Headquarters: New Delhi, India

● Parent Ministry: Ministry of Defence, Government of India
● Chairman: Dr. Samir V. Kamat

After delays, GE Aerospace announces delivery of jet engines for Tejas LCA-Mk1A
● GE Aerospace has delivered the first of 99 F404-IN20 aircraft engines to Hindustan
Aeronautics Limited (HAL) for the Tejas Light Combat Aircraft (LCA) Mk-1A.
● The Indian Air Force (IAF) is set to receive 83 Tejas Mk-1A jets, as per a ₹48,000 crore
contract signed in February 2021.
● HAL faced delays in Tejas jet deliveries, partly due to the delayed supply of F404 engines.
● The engine, manufactured in Lynn, Massachusetts, will reach India by early next month.
● The F404-IN20 engine is custom-designed for India’s single-engine fighter programme with
the highest thrust in the F404 family.

Tavasya: New indigenous frigate launched to boost India’s naval power

● Goa Shipyard Limited (GSL) launched Tavasya, the second frigate under Project
1135.6 Additional Follow-on Ships, marking a major step in India’s naval self-reliance.
● Tavasya is named after the legendary mace of Bhima from the Mahabharata and symbolizes
the indomitable spirit and growing strength of the Indian Navy.
● The Ministry of Defence signed the contract with GSL in January 2019 for two
● The first frigate, Triput, was launched on July 24, 2023.

13th edition of India-Italy Military Cooperation Group meeting concludes in Rome

● The military officials of India and Italy held discussions on expanding the scope of military-
focused cooperation during the 13th edition of the India-Italy Military Cooperation Group
(MCG) meeting, conducted from 20-21 March in Rome, Italy.
● The meeting focused on identifying new avenues for bilateral military cooperation,
including enhanced exchange programs, capability development, and strengthening
collaboration between the Indian and Italian armed forces.
● Ongoing defence engagements were reviewed, with an emphasis on optimizing future
interactions.

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 Important Monthly Current Affairs Capsule – March 2025

● The meeting was co-chaired by the Deputy Assistant Chief of Integrated Defence Staff IDC
(A) from Headquarters Integrated Defence Staff (HQ IDS), India, and the Deputy Head of the
Strategic Direction and Military Cooperation Division of the Italian Defence General Staff, Italy.

23rd edition of Indo-French Varuna Naval Exercise 2025 commences

● This is a detailed overview of the Indo-French bilateral and multinational military exercises,
with a focus on the 23rd Varuna Exercise being held in the Arabian Sea from 19-22 March
2025.
● The 22nd edition took place in the Mediterranean Sea from 2-4 September 2024.
● The first India-France maritime exercise began in 1991, and in 2001, it was renamed Varuna.
Participants
● India: Carrier Strike Group based around INS Vikrant, including fighter aircraft, destroyers,
frigates, and an Indian-made Scorpene-class submarine.
● France: Carrier Strike Group based around Charles De Gaulle, under the command
of ALINDIEN (French Armed Forces in the Indian Ocean).

Defence Acquisition Council gives initial approval for ₹54,000 crore military hardware purchases, norms
to cut down procurement timelines
● India’s Defence Acquisition Council (DAC), led by Defence Minister Rajnath Singh, has
granted initial approval for military modernization proposals totaling over ₹54,000 crore
(approximately $6.26 billion).
● These acquisitions aim to enhance the operational capabilities of the Indian Army, Navy, and
Air Force, with a significant focus on indigenous development and production.

Armed Forces Medical Services (AFMS) and National Institute of Mental Health and Neurosciences
(NIMHANS) Sign Memorandum of Understanding (MoU) to Enhance Mental Health Support for Armed
Forces
● In a major step towards improving the mental well-being of defense personnel, the Armed
Forces Medical Services (AFMS) and the National Institute of Mental Health and
Neurosciences (NIMHANS) have signed a Memorandum of Understanding (MoU) for
collaborative research and training in mental health care.

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 Important Monthly Current Affairs Capsule – March 2025

SCIENCE & TECHNOLOGY

Amazon unveils its first quantum computing chip Ocelot
● Amazon Web Services (AWS) has unveiled Ocelot, the company’s first-generation quantum
computing chip.
● The new chip can slash the costs of implementing quantum error correction by up to 90%, the
company stated.
● Ocelot was developed by the AWS Center for Quantum Computing at the California Institute of
Technology.

Blue Ghost Spacecraft Successfully Lands on the Moon in Firefly's First Lunar Mission
● Firefly Aerospace, a US-based private space company, successfully landed its Blue Ghost
spacecraft on the moon for a two-week research mission.
● The touchdown occurred at 3:35 AM US East Coast time (08:35 GMT) in the Mare Crisium
region, a visible lunar basin from Earth.
● Firefly becomes the second private firm to land on the moon, after Intuitive Machines, whose
Odysseus lander had a damaged landing last year.
● Firefly claims Blue Ghost is the first fully successful soft landing by a private company.

Government Launches AI Kosha to Strengthen AI Development

● The AI Kosha initiative is a significant step in India’s AI development strategy.
● It serves as a non-personal data repository with 316 datasets to aid AI model development,
focusing on Indian languages to support the creation of translation tools for linguistic inclusivity.
● It is part of the broader ₹10,370 crore IndiaAI Mission, which promotes AI innovation.
● India has also expanded its AI compute infrastructure by commissioning 14,000 GPUs, an
increase from 10,000, with quarterly expansions planned.

NASA’s newest space telescope blasts off to map the entire sky and millions of galaxies
● NASA’s latest space telescope, Spherex, was launched into orbit on Tuesday aboard a SpaceX
rocket from California.
● The telescope will map the entire sky in unprecedented detail, capturing a sweeping view of
hundreds of millions of galaxies and their cosmic glow since the universe's beginning.
● The $488 million mission aims to study galaxy formation and evolution over billions of years, as
well as the rapid expansion of the universe in its early moments.

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 Important Monthly Current Affairs Capsule – March 2025

About NASA:
● Established: 1958
● Headquarters: Washington, D.C., USA

China builds giant anti-hypersonic radar that can track every small and big Indian missile from 5,000 km
away
● China has reportedly deployed a new Large Phased Array Radar (LPAR) in Yunnan province,
near the Myanmar border.
● The radar is believed to have a range of over 5,000 km, enabling surveillance deep into Indian
territory.
● It can also track missile tests, including those from Dr APJ Abdul Kalam Island in India.
● Unlike traditional radars, LPARs use electronically controlled antennas instead of mechanical
rotation.

Tejas Fighter Jet Successfully Test Fires Air-To-Air Astra Missile Off Odisha Coast
● India's Aeronautical Development Agency (ADA) successfully conducted the test launch of the
Astra Beyond Visual Range Air-to-Air Missile (BVRAAM) from the LCA AF MK1 prototype fighter aircraft
on March 12, 2025, off the coast of Chandipur, Odisha.
● The test-firing achieved a direct hit on a flying target, with all subsystems performing accurately,
meeting all mission parameters and objectives.
● The Astra missile, developed by DRDO, has a range of over 100 km and features advanced
guidance and navigation systems for precision targeting.

National Aeronautics and Space Administration’s Nine-Month Space Mission Ends as Sunita Williams
and Butch Wilmore Return to Earth
● Butch Wilmore and Sunita Williams returned to Earth in a SpaceX Crew Dragon capsule.
● Their return followed a nine-month delay due to issues with Boeing’s Starliner spacecraft.
● Initially planned as an eight-day test mission, their stay on the ISS lasted 286 days.
● The astronauts departed the ISS at 1:05 a.m. ET (0505 GMT) on March 19, 2025.
● They landed off Florida’s Gulf Coast at 5:57 p.m. ET, using heat shields and parachutes.
● The four-member Crew-9 mission, including Wilmore and Williams, experienced a safe
splashdown.
● NASA expedited Crew-9’s replacement mission and advanced SpaceX capsule readiness.

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 Important Monthly Current Affairs Capsule – March 2025

● Wilmore and Williams spent 286 days in space, exceeding typical six-month ISS missions.
● Williams has now spent 608 cumulative days in space, second among U.S. astronauts after
Peggy Whitson (675 days).
● Frank Rubio holds the U.S. record (371 days), while Oleg Kononenko holds the world record
(878 days).
● The astronauts will undergo routine health checks at NASA’s Johnson Space Center in Houston.
About SpaceX:
● Full Name: Space Exploration Technologies Corp.
● Founded: March 14, 2002
● CEO & Founder: Elon Musk
● Headquarters: Hawthorne, California, USA

Sansad Bhashini Initiative: A Leap Forward in Real-Time Parliamentary Translations and

Documentation
● The Lok Sabha Secretariat and MeitY signed an MoU to develop the Sansad Bhashini initiative.
● The project aims to use AI-based multilingual support to modernize parliamentary operations.
● The MoU was signed in the presence of Lok Sabha Speaker Om Birla and Union Minister
Ashwini Vaishnaw.

Indian Space Research Organisation (ISRO) chairman inaugurates new IIT-Madras research centre on
fluid and thermal science
● The Indian Space Research Organisation (ISRO) on March 17, 2025, inaugurated the Shri S
Ramakrishnan Centre of Excellence in Fluid and Thermal Science Research at the Indian
Institute of Technology Madras (IIT Madras).
● The newly launched centre, based in the Department of Mechanical Engineering at IIT-M, aims
to advance research in spacecraft and launch vehicle thermal management.
● During the inauguration, ISRO chairman, Dr V Narayanan, highlighted India’s progress in
cryogenic engine technology, stating that despite initial technological denials, the country now
possesses three cryogenic engines, including a human-rated version.
● He noted that only 6 countries have developed this technology.
● The centre is named after Shri S. Ramakrishnan, an IIT Madras alumnus and aerospace
engineer known for his contributions to launch vehicle engineering.
Chandrayaan-5 Mission approved: India and Japan to collaborate on lunar exploration

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 Important Monthly Current Affairs Capsule – March 2025

● The Centre has approved the Chandrayaan-5 mission, which will study the Moon, ISRO
Chairman V. Narayanan
● Speaking at an event in Bengaluru, Narayanan stated that unlike the Chandrayaan-3 mission,
which carried a 25-kg rover (Pragyan), the Chandrayaan-5 mission will carry a 250-kg rover to
conduct an in-depth study of the lunar surface.
● The Chandrayaan missions focus on lunar surface exploration:
1. Chandrayaan-1 (2008): Conducted chemical, mineralogical, and photo-geologic
mapping of the Moon.
2. Chandrayaan-2 (2019): Achieved 98% mission success, though the lander Vikram could
not complete its final descent. However, its high-resolution camera continues to send
images.
3. Chandrayaan-3 (2023): Successfully demonstrated soft-landing on the Moon’s south
pole on August 23, 2023.
● Narayanan confirmed that Chandrayaan-5 will be conducted in collaboration with Japan.
● The upcoming Chandrayaan-4 mission (expected launch in 2027) will focus on bringing lunar
samples back to Earth.

Department of Telecommunications (dot), Unveils 5G innovation Hackathon 2025 with ₹1.5 crore
Budget
● Organized by the Department of Telecommunications (DoT), the 5G Innovation Hackathon
2025 is a six-month initiative aimed at developing advanced 5G-powered solutions for societal
and industrial challenges.
● Open to students, startups, and professionals, the hackathon provides mentorship, funding, and
access to over 100 5G Use Case Labs, enabling participants to develop scalable technologies.
● Key focus areas include AI-driven network maintenance, IoT solutions, 5G broadcasting, smart
health, agriculture, industrial automation, non-terrestrial networks (NTN), D2M, V2X, and
quantum communication.
● The winner will receive ₹5,00,000, the first runner-up ₹3,00,000, and the second runner-up
₹1,50,000.
● Special recognitions of ₹50,000 each will be awarded for the Best Idea and Most Innovative
Prototype.
About Ministry of Communications:
● Cabinet Minister: Shri Jyotiraditya M. Scindia

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● Minister of State (MoS): Dr. Chandra Sekhar Pemmasani

India’s first exploration licence auction and AI-driven mineral targeting hackathon launched
● The Ministry of Mines, in collaboration with the Goa government, launched India’s first-ever
Exploration Licence (EL) auction, marking a major step in unlocking critical and deep-seated
mineral reserves.
● The event was presided over by Union Coal and Mines Minister G. Kishan Reddy and Goa Chief
Minister Pramod Sawant.
● It also featured a Roadshow for the fifth tranche of critical mineral block auctions.
● The AI Hackathon 2025 was inaugurated with the theme “Mineral Targeting using Artificial
Intelligence”, aimed at leveraging advanced datasets to identify hidden mineral deposits and
drive sustainable mining innovation.
About Ministry of Coal & Mines:
● Cabinet Minister: Shri G. Kishan Reddy
● Minister of State (MoS): Shri Satish Chandra Dubey

Japan’s Space Debris Firm Astroscale To Tie Up With India’s Digantara, Bellatrix Aerospace
● Japan’s Astroscale, a specialist in orbital debris removal, has partnered with Bengaluru-based
Digantara and Bellatrix Aerospace.
● The collaboration aims to offer on-orbit servicing technology for Indian clients within 1-2 years.
● This marks Astroscale’s first operational venture in Asia-Pacific beyond Japan.

Indian Space Research Organisation & Semiconductor Laboratory develops 32-bit Microprocessors for
space applications
● The first production lots of the 32-bit microprocessors VIKRAM3201 &
KALPANA3201, developed for space applications, were handed over to V. Narayanan,
Secretary, DOS/Chairman, ISRO, by Shri S. Krishnan, Secretary, MeitY, in a function
organized at New Delhi by the Semiconductor Laboratory (SCL), Chandigarh.
● These microprocessors were designed and developed by the Vikram Sarabhai Space
Centre of ISRO in collaboration with SCL, Chandigarh.
About VIKRAM3201:
● VIKRAM3201 is India’s first fully indigenous 32-bit microprocessor, qualified for use in the
harsh environmental conditions of launch vehicles.

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 Important Monthly Current Affairs Capsule – March 2025

● Fabricated at the 180nm CMOS semiconductor fab of SCL, this processor is an advanced
version of the 16-bit VIKRAM1601 microprocessor, which has been in use in ISRO’s launch
vehicle avionics system since 2009.
● A “Make-in-India” version of the VIKRAM1601 processor was later inducted in 2016 after the
establishment of the 180nm semiconductor fab at SCL,
About KALPANA3201:
● KALPANA3201 is a 32-bit SPARC V8 RISC microprocessor based on the IEEE
1754 Instruction Set Architecture.
● It has been designed to be compatible with open-source software toolsets and includes an in-
house developed simulator and IDE.
● The microprocessor has been successfully tested with flight software.
World’s First ‘Supersolid’ Created From Light: A Groundbreaking Discovery
● This groundbreaking discovery of a “supersolid” state of light marks a major milestone
in physics.
● Scientists have successfully transformed light into a solid-like phase that retains superfluid
properties, allowing friction-free flow while maintaining an ordered structure.
● The experiment, published in Nature on March 5, was led by researchers from the National
Institute of Optics (CNR-INO) and CNR-Nanotec in Italy.
● Iacopo Carusotto described the supersolid as a fluid made of coherent quantum droplets,
maintaining their arrangement even when flowing past obstacles.

APPS & PORTALS

Aadhaar Authentication Process Simplified with New Governance Portal
● The government has introduced a new Aadhaar Governance Portal (http://swik.meity.gov.in) to
simplify the approval process for Aadhaar authentication requests.
● Launched by the Ministry of Electronics and Information Technology (MeitY), the portal follows
amendments to the Aadhaar Authentication for Good Governance (Social Welfare, Innovation,
Knowledge) Rules, 2025 under the Aadhaar Act, 2016.
● The initiative aims to support good governance, enhance service delivery, and simplify processes
for citizens.
About the Unique Identification Authority of India (UIDAI):
● Founded: 28 January 2009
● Headquarters: New Delhi, India

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 Important Monthly Current Affairs Capsule – March 2025

● CEO: Bhuvnesh Kumar

● Parent Organization: Ministry of Electronics and Information Technology (MeitY), Government of
India
● Objective: Issuing Aadhaar, a 12-digit unique identification number, to Indian residents for better
governance and service delivery.
AWARDS AND HONOURS
Prani Mitra and Jeev Daya Award Ceremony 2025 Recognizes Outstanding Contributions to Animal
Welfare
● The Animal Welfare Board of India (AWBI), a statutory body under the Department of Animal
Husbandry and Dairying, organized the Prani Mitra and Jeev Daya Award Ceremony, at Vigyan
Bhawan, New Delhi.
● The event, aimed at promoting animal welfare and recognizing contributions in this field, was
graced by Union Ministers of State for Fisheries, Animal Husbandry, and Dairying, Prof. S.P. Singh
Baghel and Shri George Kurian, alongside senior officials from AWBI, Ministry of Animal Husbandry,
and state governments.

97th Academy Awards (Oscars 2025) – Complete Winners List

● The 97th Academy Awards took place at the Dolby Theatre, Los Angeles, hosted by Conan
O’Brien, celebrating the best of global cinema.
● Best Picture: Anora
● Most Nominated Film: Emilia Pérez (13 nominations – record for a non-English film)
● Big Winner: Anora – Multiple wins including Best Picture, Best Actress, Best Director, and Best
Editing
Major Awards and Winners
● Category ● Winner
● Best Picture ● Anora
● Best Director ● Sean Baker (Anora)
● Best Actor ● Adrien Brody (The
Brutalist)
● Best Actress ● Mikey Madison (Anora)
● Best Supporting ● Kieran Culkin (A Real
Actor Pain)

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 Important Monthly Current Affairs Capsule – March 2025

● Best Supporting ● Zoe Saldana (Emilia

Actress Pérez)
● Best International ● I’m Still Here (Brazil)
Feature
● Best Animated ● Flow
Feature
● Best Documentary ● No Other Land
Feature
● Best Original ● Anora
Screenplay
● Best Adapted ● Conclave
Screenplay
● Best Cinematography ● The Brutalist
● Best Visual Effects ● Dune: Part Two
● Best Sound ● Dune: Part Two
● Best Production ● Wicked
Design
● Best Costume ● Wicked
Design
● Best Makeup & ● The Substance
Hairstyling
● Best Original Score ● Daniel Blumberg (The
Brutalist)
● Best Original Song ● “El Mal” (Emilia Pérez)

Forbes India Leadership Awards (FILA) 2025: Honoring Visionary Leadership and Innovation
● The Forbes India Leadership Awards (FILA) 2025 concluded with a grand ceremony at the Jio
World Convention Centre in Mumbai, celebrating India’s corporate and entrepreneurial leaders.
● The prestigious event recognized outstanding contributions in business, innovation, and
leadership, highlighting individuals and organizations that have shaped India’s economic and social
landscape.

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 Important Monthly Current Affairs Capsule – March 2025

● Hosted by Forbes India, the event brought together top industry leaders, entrepreneurs, and
philanthropists, honoring their transformative impact.
Final Set of Awards: Celebrating Leadership Across Sectors
● Award ● Winner ● Key Contribution
Category
● Emerging ● BugWorks ● Innovation in
Innovator Award Research biotechnology
● Outstanding ● BrowserStack ● Revolutionizing
Startup Award software testing solutions
● Icons of ● Ajay Singh ● Leadership in aviation
Excellence (SpiceJet) sector
● ● Katrina Kaif (Kay ● Entrepreneurship in
Beauty) beauty industry
● ● Jay Shah (ICC) ● Contributions to global
cricket governance
● ● Shyam Srinivasan ● Leadership in the
(Federal Bank) financial sector
● ● Mohit Joshi (Tech ● Driving technological
Mahindra) transformation
● Promising ● Minimalist ● Transparent and
Startup effective skincare solutions
● Regional ● MTR Foods ● Authentic Indian
Goliath cuisine and quality
commitment
● Grassroots ● Rizwan & Rekha ● Social impact in
Philanthropists Koita (Koita Foundation) healthcare and education
● Climate ● Indra Water ● Sustainable water
Warrior treatment solutions
● Turnaround ● Indian Hotels Co. ● Revitalization of
Star Ltd. (IHCL) hospitality and service
excellence
● Next-Gen ● Varun Jaipuria ● Expansion in the

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 Important Monthly Current Affairs Capsule – March 2025

Entrepreneur (Varun Beverages) beverage sector

● Institution ● Ashish Dhawan ● Contributions to
Builder (Central Square education reform and policy-
Foundation) making
● Entrepreneur ● Supam ● Leadership in baby
of the Year Maheshwari (FirstCry) and kids’ retail market
● CEO of the ● Rajesh Jejurikar ● Innovation in the
Year (Mahindra & Mahindra) automobile sector and
business expansion

Nithin Kamath Wins EY Entrepreneur of the Year 2024

● Zerodha Founder & CEO Nithin Kamath has been named the EY Entrepreneur Of The Year (EOY)
2024 for his groundbreaking work in revolutionizing India’s brokerage industry with a low-margin, high-
volume model.
● Kamath built Zerodha into a billion-dollar company without external funding and continues to
support fintech and climate-focused startups, along with various social initiatives.

Dr. Suborno Bose Honored with Lifetime Achievement Award for Advancing AI in Hospitality Education
● Dr. Suborno Bose, Chairman of the International Institute of Hotel Management (IIHM), has been
awarded the ‘Lifetime Achievement in Hospitality and Education Through Technology’ at the Vibrant
Bharat Global Summit 2025.
● The award was presented by Union Tourism Minister Gajendra Shekhawat in recognition of Dr.
Bose’s pioneering contributions to integrating Artificial Intelligence (AI) and technology into hospitality
education and tourism.
● Adding to the significance of the event, Dr. Bose also launched his latest book, "Harmonizing
Human Touch and AI in Tourism & Hospitality", which delves into the evolving role of AI in the industry.

Prime Minister Narendra Modi Honored with ‘Honorary Order of Freedom of Barbados’
● Prime Minister Narendra Modi has been conferred with the prestigious ‘Honorary Order of
Freedom of Barbados’, recognizing his strategic leadership and assistance to Barbados during the
COVID-19 pandemic.

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 Important Monthly Current Affairs Capsule – March 2025

● The award was accepted on his behalf by Union Minister of State for External Affairs, Pabitra
Margherita, at a special ceremony held at Government House, Bridgetown.
● Recipient: Prime Minister Narendra Modi (Award accepted by Pabitra Margherita).
● Title: ‘Honorary Order of Freedom of Barbados’ – one of the nation’s highest honors.

Indian Prime Minister Narendra Modi to Receive Mauritius' Highest Civilian Honour
● Mauritian Prime Minister Navin Ramgoolam announced that Indian Prime Minister Narendra Modi
will be conferred with the Grand Commander of the Order of the Star and Key of the Indian Ocean, the
nation's highest civilian award.
● This recognition marks PM Modi as the first Indian to receive this prestigious honour,
acknowledging his significant contributions to strengthening India-Mauritius ties.
● First Indian to be awarded Mauritius' highest civilian honour.
● Fifth foreign national to receive the distinction.
● Previously conferred upon Nelson Mandela in 1998.
● 21st international honour for PM Modi from a foreign country.
About Mauritius
● Capital: Port Louis
● Currency: Mauritian Rupee
● Prime minister: Navin Ramgoolam

Delhi International Airport Wins ASQ Airport Experience Award 2024 for Best Airport Over 40 Million
Passengers in Asia-Pacific
● GMR Airports Infrastructure Limited has announced that its subsidiary, Delhi International Airport
Limited (DIAL), has been honored with the prestigious Airport Service Quality (ASQ) Airport Experience
Award 2024 for the Best Airport Over 40 Million Passengers in the Asia-Pacific region.
● This marks the seventh consecutive year that Delhi Airport has received this prestigious
recognition, reinforcing its commitment to customer service excellence.
● The Airport Service Quality (ASQ) Awards, presented by Airports Council International (ACI), are
widely regarded as the gold standard for evaluating airport service quality worldwide.

Jayshree Vencatesan Becomes First Indian to Receive Ramsar Award for Wetland Wise Use
● Jayshree Vencatesan, co-founder of Chennai-based Care Earth Trust, has become the first
Indian to be honored with the Ramsar Award for ‘Wetland Wise Use’.

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 Important Monthly Current Affairs Capsule – March 2025

● This prestigious global recognition celebrates her contributions to sustainable wetland

management.
● The Ramsar Secretariat in Geneva announced the award on the eve of International Women’s
Day 2024.
● The Ramsar Convention on Wetlands recognizes outstanding individuals and organizations for
wetland conservation.
Other Women Changemakers Recognized
● Celeste Saulo – Secretary General, World Meteorological Organization.
● Jennifer George – CEO, East Asian-Australasian Flyway Partnership Secretariat.
● Tatiana Minayeva – Consultant, Care for Ecosystems.

Ramnath Goenka Excellence in Journalism Awards: President Murmu Highlights Press Freedom &
Ethical Journalism
● President Droupadi Murmu presented the Ramnath Goenka Excellence in Journalism Awards,
honoring outstanding contributions to Indian journalism.
● She emphasized the importance of truth, integrity, and fearless reporting, while
highlighting Ramnath Goenka’s legacy in defending press freedom, especially during
the Emergency.
Award winners:

Category Name of the Winners & Publications

Hindi (Print/Digital) Mridulika Jha (Aaj Tak) – Dunki route migration

crisis

Regional Languages Jisha Elizabeth (Madhyamam) – Human

(Print/Digital) trafficking to Myanmar

Environment, Science & Sibu Kumar Tripathi (India Today) – Joshimath

Tech sinking crisis

Uncovering India Invisible Satyasundar Barik (The Hindu) – Migration &

missing daughters in Odisha

Business & Economic Twesh Mishra (Economic Times) – EV subsidy

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 Important Monthly Current Affairs Capsule – March 2025

Journalism fraud investigation

Politics & Government Maitri Porecha (The Hindu) – Balasore train

tragedy coverage

Sports Journalism Shahab Ali & Amarnath Kashyap (Hindustan) –

Asha Kiran Barla’s village conditions

Investigative Reporting Nihal AP Koshie, Mahender Singh Manral & Mihir

Vasavda (Indian Express) – Wrestling federation
scandal

Feature Writing Shubhajit Roy (Indian Express) – Israel-Palestine

conflict reports

Foreign Correspondent Nilesh Christopher (Rest of World) – AI &

(India) manufacturing shift in India

Civic Journalism Jeet Mashru & Somita Pal (Hindustan Times) –

BMC hospital shortages

Photo Journalism P. Ravikumar (New Indian Express) – Chennai oil

spill devastation

Books (Non-Fiction) A.R. Venkatachalapathy (Penguin) – V.O.

Chidambaram Pillai’s struggle

Hindi (Broadcast/Digital) Siddhant Mohan (Lallantop) – Investigated "real

Kerala story"

Regional Languages Mandar Gonjari (ABP Majha) – Undertrial running

(Broadcast) drug racket

Environment, Science & Joel Michael & Rohini Krishnamurthy (Down To

Tech (Broadcast/Digital) Earth) – Ludhiana gas leak deaths

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 Important Monthly Current Affairs Capsule – March 2025

Uncovering India Invisible Vishnukant Tiwari & Athar Rather (The Quint) –
(Broadcast/Digital) Witch-hunting violence in Jharkhand

Politics & Government Ashutosh Mishra (India Today TV) – Ethnic

(Broadcast) violence in Manipur

Sports Journalism Tejas Vaidya & Enakshi Rajvanshi (BBC Hindi) –

(Broadcast/Digital) Disabled women cricketers in Gujarat

Investigative Reporting Anurag Dwary (NDTV) – Medical college scams in

(Broadcast) Madhya Pradesh

2024 ACM A.M. Turing Award: Andrew G. Barto & Richard S. Sutton
● The 2024 ACM A.M. Turing Award, often referred to as the “Nobel Prize in Computing,” has been
awarded to Andrew G. Barto (University of Massachusetts, Amherst) and Richard S. Sutton
(University of Alberta) for their pioneering contributions to Reinforcement Learning (RL).
● Their work has significantly shaped the foundations of AI and machine learning.
● Key Achievements:
o Development of Temporal Difference Learning.
o Advances in Policy-Gradient Methods.
o Integration of Neural Networks in RL.
● Influential Publication: “Reinforcement Learning: An Introduction” (1998) – Cited over 75,000
times.

Japanese mathematician Masaki Kashiwara Awarded 2025 Abel Prize for Pioneering Work in Algebraic
Analysis
● Japanese mathematician Masaki Kashiwara has been awarded the 2025 Abel Prize for
his exceptional contributions to algebraic analysis and representation theory.
● The Norwegian Academy of Science and Letters recognized the 78-year-old
mathematician for his groundbreaking development of D-modules and crystal bases, which
have significantly impacted modern mathematics.
● What is the Abel Prize?The Abel Prize is one of the most prestigious international awards in
mathematics, often considered the equivalent of the Nobel Prize in the field.

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 Important Monthly Current Affairs Capsule – March 2025

Indian-origin British author Rana Dasgupta wins literary award for 2014 book on 21st century Delhi
● Indian-origin British author Rana Dasgupta won the 2025 Windham-Campbell Prize in
the non-fiction
● The award will be presented during an international literary festival at Yale later this year.
● Awarded for his 2014 book “Capital: A Portrait of Twenty-First Century Delhi”.
● Prize Amount: $175,000, administered by Yale University.

Sangita Kalanidhi Award 2025 – R.K. Shriramkumar Honored by Music Academy

● Every year, the Music Academy of Madras honours the finest artistes who have dedicated
their lives to these traditions, shaping the cultural landscape of the country.
● The 2025 awards were announced to recognise unique talent in Carnatic music and
Bharatanatyam.
● This year’s Sangita Kalanidhi, the highest honour in Carnatic music, has been conferred
upon RK Shriramkumar, a violinist whose artistry has graced the stage for decades.

Chairman of The Sanmar Group, Vijay Sankar Honored with Denmark’s Prestigious Knight’s Cross
● Vijay Sankar, the Honorary Consul General of Denmark for Southern India and Chairman of
The Sanmar Group, has been awarded the Knight’s Cross of the Order of Dannebrog by
the King of Denmark.
● This distinguished honor recognizes his exceptional consular services and his efforts
in strengthening Indo-Danish relations.
● The award was presented by Rasmus Abildgaard Kristensen, Ambassador of Denmark in
India, at a special ceremony in Chennai.
● The event also highlighted the Sankar family’s five-decade-long association with Denmark’s
consular services.
Reason for Recognition
● Outstanding consular services
● Strengthening Indo-Danish diplomatic ties

Renowned Sculptor Ram Sutar Honored with Maharashtra Bhushan Award

● Ram Sutar, the acclaimed sculptor best known for designing the Statue of Unity, has been
awarded the Maharashtra Bhushan, the highest civilian honor of Maharashtra.

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 Important Monthly Current Affairs Capsule – March 2025

● The announcement was made by Maharashtra Chief Minister Devendra Fadnavis in the state
Legislative Assembly.
● A selection committee chaired by Fadnavis finalized Sutar’s name for the award.
● At 100 years old, Sutar continues to contribute to India’s artistic heritage and has been
entrusted with sculpting a statue of Dr. Babasaheb Ambedkar for Chaityabhoomi, Mumbai.

Veteran Telugu cinema superstar, Chiranjeevi Honored with Lifetime Achievement Award at UK
Parliament
● Veteran Telugu cinema superstar Chiranjeevi has been conferred with the Lifetime
Achievement Award for his immense contribution to Indian cinema, cultural influence, and
public service.
● The award was presented by London-based think tank Bridge India at the prestigious House
of Commons in the UK Parliament.

Bharat Petroleum Corporation Limited Inaugurates Floating Solar Power Plant at Kochi Refinery
● Bharat Petroleum Corporation Limited (BPCL) has made a major stride in sustainable
energy with the launch of a floating solar power plant at the Kochi Refinery.
● The project was inaugurated by Chief Secretary Sarada Muraleedharan, marking a significant
step in BPCL’s transition toward renewable energy integration.

Günter Blöschl Wins 2025 Stockholm Water Prize for Pioneering Flood Hydrology Research
● Renowned hydrologist Günter Blöschl has been honored with the 2025 Stockholm Water
Prize for his groundbreaking research in flood hydrology.
● Announced by the Prize Committee, the award recognizes his significant contributions to flood
risk assessment and water resource management under climate change.
● His work has enhanced global flood prediction models, helping communities prepare for
extreme weather events.

Vinod Kumar Shukla Wins 59th Jnanpith Award, Becomes First Recipient from Chhattisgarh
● Eminent Hindi writer Vinod Kumar Shukla has been named the recipient of the 59th Jnanpith
Award, India’s highest literary honour.
● At 88 years old, he is recognized for his unique literary style, blending linguistic creativity and
emotional depth.

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 Important Monthly Current Affairs Capsule – March 2025

● He is the first author from Chhattisgarh to receive this prestigious award and the 12th Hindi
writer to be honored.
Jnanpith Award Overview
● Established: 1961
● First Awarded in 1965 to Malayalam poet G. Sankara Kurup for “Odakkuzhal”.
● Recognizes outstanding literary contributions in Indian languages.

MOUS AND AGREEMENT

India-European Union Meeting on Science & Technology Cooperation Held in New Delhi
● An India-European Union (EU) —An India-European Union (EU) Meeting on Science and
technology of the Principal Scientific Adviser to the Government of India, Vigyan Bhawan Annexe.
● The meeting was part of a series of sectoral engagements coinciding with the visit of H.E. Ms.
Ursula von der Leyen, President of the European Commission, to India, accompanied by the College of
Commissioners.
● Prof. Ajay Kumar Sood, Principal Scientific Adviser to the Government of India, and Ms.
Ekaterina Zaharieva, EU Commissioner for Startups, Research, and Innovation, co-chaired the meeting.
Magma General Insurance Partners with Hyundai India Insurance Broking for Motor Coverage
● Magma General Insurance Limited has partnered with Hyundai India Insurance Broking Private
Limited (HIIB) to distribute motor insurance products.
● Coverage & Distribution: The agreement enables Magma’s insurance solutions to be offered at
over 600 Hyundai dealerships across India.
● Customer Benefits: Policies will cover risks such as accidents, theft, natural disasters, and third-
party liabilities.

Indian Institute of Foreign Trade Signs Memorandum of Understanding with APEC Antwerp to
Strengthen Trade and Logistics Education
● The Indian Institute of Foreign Trade (IIFT) has signed a Memorandum of Understanding (MoU)
with APEC – Antwerp/Flanders Port Training Center, Belgium, marking a significant step toward
advancing academic collaboration in international trade, logistics, and supply chain management.
● This agreement aims to enhance trade education and industry training between India and
Belgium through:
Dignitaries Present at the Signing Ceremony
Indian Delegation

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 Important Monthly Current Affairs Capsule – March 2025

● Shri Jitin Prasada, Minister of State for Commerce & Industry

● Ajay Bhadoo, Additional Secretary, Ministry of Commerce & Industry
● Prof. Rakesh Mohan Joshi, Vice Chancellor, IIFT
● Senior faculty and distinguished IIFT alumni
About IIFT
● Established in 1963, IIFT is an autonomous body under the Ministry of Commerce and a Deemed
University. It is one of India’s premier institutions in foreign trade education, research, and training.
About APEC – Antwerp/Flanders Port Training Center
● APEC, affiliated with the Port of Antwerp-Bruges, is a leading training institute specializing in port
management, trade facilitation, and logistics, contributing to global capacity building in maritime and
trade sectors.

India and Nepal Sign MoU to Strengthen Cooperation in Water, Sanitation, and Hygiene Sector
● The Government of India and the Government of Nepal have signed a Memorandum of
Understanding (MoU) to enhance cooperation in the Water, Sanitation, and Hygiene (WASH) sector,
including waste management.
● The signing ceremony took place at Sushma Swaraj Bhawan, New Delhi, in the presence of:
● Shri C R Patil, Union Minister of Jal Shakti, Government of India
● Shri Pradeep Yadav, Hon’ble Minister of Water Supply, Government of Nepal

Confederation of Indian Industry (CII) Indian Green Building Council (IGBC) and Indian Overseas Bank
Sign MoU to Boost Green Building Financing
● The Confederation of Indian Industry (CII) Indian Green Building Council (IGBC) and Indian
Overseas Bank (IOB) have signed a Memorandum of Understanding (MoU) to provide accessible
financing options for IGBC-certified green buildings.
● This partnership aims to promote energy-efficient construction, water conservation, and the use
of renewable materials, thereby encouraging sustainable development in India’s real estate sector.
The MoU was signed by key representatives from both organizations, including:
● Koustuv Majumder, General Manager & Chief Risk Officer, IOB
● S. Venkatagiri, Executive Director, IGBC
● Mahesh Anand, Co-chairman, IGBC Chennai
● Joydeep Dutta Roy, Executive Director, IOB
● Dhanaraj T, Executive Director, IOB

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 Important Monthly Current Affairs Capsule – March 2025

Inland Waterways Authority of India Signs Memorandum of Understanding with J&K Government to
Develop River Cruise Tourism
● The Inland Waterways Authority of India (IWAI) has signed a Memorandum of Understanding
(MoU) with the Jammu & Kashmir (J&K) government to promote river cruise tourism in the Union
Territory.
● The agreement was formalized at the Chintan Shivir event in Srinagar, in the presence of Union
Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal.
● The initiative aims to boost tourism, generate employment, and enhance economic growth by le-
veraging the national waterways in Jammu & Kashmir.
About IWAI
● Founded: 27 October 1986
● Headquarters: Noida, Uttar Pradesh
● Agency executive: Sh Vijay Kumar, Chairman

Department for Promotion of Industry and Internal Trade and Mercedes-Benz India Sign MoU to Boost
Innovation in Manufacturing, Road Safety, and Sustainability
● The Department for Promotion of Industry and Internal Trade (DPIIT) and Mercedes-Benz India
have signed an MoU to enhance manufacturing capabilities, promote road safety, and advance
sustainability in India.
● This partnership aims to support startups by providing infrastructure, mentorship, funding
opportunities, and market linkages.

Australia-India Sports Excellence Forum Inaugurated to Boost Bilateral Sports Collaboration

● Minister of State for Sports, Raksha Khadse inaugurated the Australia-India Sports Excellence
Forum at GIFT City, Gujarat.
● The forum aims to enhance sports collaboration by leveraging Australia’s expertise in sports
development and adopting best practices for India's sports ecosystem.
● Dignitaries present included Australian High Commissioner Philip Green and Gujarat Sports
Minister Harsh Sanghavi.
● Deakin University, which operates a campus at GIFT City, plays a key role in advancing sports
education and research.
About Australia

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 Important Monthly Current Affairs Capsule – March 2025

● Capital: Canberra
● Currency: Australian dollar
● Prime Minister: Anthony Albanese

Coal India & IIT Hyderabad Collaborate for Clean Coal Energy Research
● Coal India Limited (CIL) and IIT Hyderabad (IITH) signed a Memorandum of Understanding
(MoU).
● Objective: Establishing the Centre of Clean Coal Energy and Net Zero (CLEANZ) at IIT
Hyderabad.
● Focus: Developing clean coal technologies and sustainable utilization of coal in line with India's
Net Zero commitments.
● CIL granted ₹98 Crore to IIT Hyderabad for a five-year duration.
● Union Minister G Kishan Reddy was present at the MoU signing event.
● The project aims to become financially self-sustainable beyond the initial five-year funding.

HDFC Bank Expands Project NAMAN to Support Army Veterans

● HDFC Bank, in partnership with the Indian Army and CSC Academy, has renewed its
Memorandum of Understanding (MoU) to expand Project NAMAN—a dedicated initiative aimed at
supporting Army veterans, their families, and their next of kin.
● The initiative will establish Common Service Centres (CSCs) across 26 Directorate of Indian
Army Veterans (DIAV) locations, offering pension services, Government-to-Citizen (G2C) services, and
Business-to-Consumer (B2C) services.
● This expansion is part of HDFC Bank’s Parivartan programme, which focuses on economic
inclusiveness for veterans and their families.
India-EU Trade Negotiations Face Hurdles Over Environmental and Economic Policies
● The India-EU Free Trade Agreement (FTA) negotiations have hit roadblocks due to the European
Union's (EU) stringent environmental and economic regulations, according to a report by the Global
Trade Research Initiative (GTRI).
● Key issues include the Carbon Border Adjustment Mechanism (CBAM), data protection,
investment regulations, and labor laws, which could impose additional costs on Indian exports.
● India and the 27-nation EU bloc are set to begin the 10th round of negotiations in Brussels from
March 11, 2025.

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 Important Monthly Current Affairs Capsule – March 2025

● Carbon Border Adjustment Mechanism (CBAM) will impose a 20-35% tariff on Indian steel,
aluminum, and cement exports.

Prime Minister Shri Narendra Modi’s Visit to Mauritius: Strengthening Bilateral Ties
● Prime Minister Shri Narendra Modi's visit to Mauritius (March 11-12, 2025) highlights the long-
standing India- Mauritius relations and provides an opportunity to reaffirm India's support for the island
nation's security and economic prosperity.
● He will be the Guest of Honour at Mauritius’ Independence Day celebrations on March 12.
● Indentured Labor Heritage (1834 Onwards): Nearly 70% of Mauritians are of Indian origin, tracing
their roots to British-era indentured laborers.

Inland Waterways Authority of India & Delhi Government Collaborate to Develop Cruise Tourism on
Yamuna
● The Inland Waterways Authority of India (IWAI), under the Ministry of Ports, Shipping and
Waterways (MoPSW), has signed a Memorandum of Understanding (MoU) with multiple Delhi
government agencies—including the Irrigation and Flood Control Department, Delhi Development
Authority (DDA), Delhi Jal Board (DJB), and Delhi Transport Corporation (DTC)—to promote cruise
tourism on a 4-km stretch of the Yamuna River (National Waterway 110) between Sonia Vihar and
Jagatpur.
● The MoU signing ceremony, held at Asita Park, was attended by Lt. Governor of Delhi Vinai
Kumar Saxena, Delhi Chief Minister Rekha Gupta, Union Minister Sarbananda Sonowal, and Union
Minister of State Shantanu Thakur, along with senior officials from MoPSW and IWAI.
About IWAI
● Founded: 27 October 1986
● Headquarters: Noida, Uttar Pradesh
● Agency executive: Sh Vijay Kumar, Chairman

National Highways Logistics Management Limited & Inland Waterways Authority of India Sign
Memorandum of Understanding for Multi-Modal Logistics Park in Varanasi
● A Memorandum of Understanding (MoU) was signed between National Highways Logistics
Management Limited (NHLML) and the Inland Waterways Authority of India (IWAI) to develop a state-
of-the-art Multi-Modal Logistics Park (MMLP) in Varanasi, Uttar Pradesh.

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 Important Monthly Current Affairs Capsule – March 2025

● The signing took place in the presence of Union Minister for Road Transport and Highways, Nitin
Gadkari, and Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal.

Department of Posts Partners with IISc for Digital Address Code Initiative
● The Department of Posts (DoP) has launched the “Digital Address Code” (DAC) initiative to
create a standardized, geo-coded addressing system in India.
● This project aims to establish “Address as a Service” (AaaS) for the simplified and efficient
delivery of public and private services.
● Strategic Collaboration: DoP, under the Ministry of Communications, has signed an MoU with the
Foundation for Science Innovation and Development (FSID), Indian Institute of Science (IISc),
Bengaluru, to design and document the Digital Address Public Infrastructure (DPI) technology
framework.
India and Qatar Sign Memorandum of Understanding on Financial and Economic Cooperation
● In a major step towards strengthening bilateral ties, the Ministry of Finance (MoF) of India and
the Ministry of Finance of the State of Qatar signed a Memorandum of Understanding (MoU) on
financial and economic cooperation on February 18, 2025, during the visit of HH Amir of Qatar to India.
● Signing Ceremony: The MoU was signed in New Delhi, by Shri Baldeo Purushartha, Joint
Secretary, Department of Economic Affairs, MoF (India), and Mr. Mohammed Hassan Jabir Al-Jabir,
Ambassador of Qatar.

Central Council for Research in Homoeopathy and Adamas University Ink MoU to Boost Homoeopathy
Research
● The Central Council for Research in Homoeopathy (CCRH) and Adamas University, Kolkata,
signed a Memorandum of Understanding (MoU) to strengthen academic and research collaboration in
homoeopathy.
● This partnership aims to promote scientific research, interdisciplinary studies, and knowledge
exchange in alternative medicine.
● The Ministry of Ayush emphasized that this initiative will contribute to the integration of
homoeopathy into mainstream healthcare.

Bharti Airtel Partners with SpaceX to Bring Starlink Internet to India

● In a landmark agreement, Bharti Airtel has partnered with Elon Musk’s SpaceX to bring Starlink’s
satellite internet services to India.

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 Important Monthly Current Affairs Capsule – March 2025

● This first-of-its-kind agreement is subject to SpaceX obtaining the necessary regulatory approvals
from the Indian government.
● SpaceX has applied for security clearance from the Indian government.
● The Home Ministry is reviewing SpaceX’s application for Starlink’s authorization in India.

Andhra Pradesh to Sign MoU with Bill & Melinda Gates Foundation for AI-Driven Development
● The Government of Andhra Pradesh is set to sign a Memorandum of Understanding (MoU) with
the Bill & Melinda Gates Foundation in New Delhi.
● This agreement marks a significant step toward integrating Artificial Intelligence (AI), digital
technologies, and data-driven governance across key sectors like healthcare, education,
agriculture, and employment.
● The MoU aims to revolutionize healthcare through AI and data-driven solutions:
o AI-powered health data systems for better healthcare management.
o Telemedicine services to enhance remote diagnostics and patient care.
o Low-cost medical devices and diagnostics to make healthcare affordable.
o AI-driven predictive analytics to identify disease trends and improve healthcare outcomes.

India-Australia Strengthen Defence Cooperation at 9th Defence Policy Talks

● India and Australia have reaffirmed their commitment to enhancing defence cooperation and
interoperability across maritime, land, and air domains.
● The discussions took place during the 9th India-Australia Defence Policy Talks
(DPT) in New Delhi.
● Both nations emphasized maritime domain awareness, reciprocal information sharing, and
defence technology collaboration.
● The meeting also reviewed past defence dialogues and set priorities for the upcoming 2+2
Ministerial Dialogue in Australia.
Review of Previous Defence Dialogues
● 2+2 Ministerial Foreign & Defence Dialogue (Nov 2023).
● Inter-sessional 2+2 Consultations (Oct 2024).
● Annual Leaders’ Summit (Nov 2024).

IndiaAI Launches Hackathon on Mineral Targeting in Collaboration with Geological Survey of India

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 Important Monthly Current Affairs Capsule – March 2025

● IndiaAI, an Independent Business Division (IBD) under Digital India Corporation (DIC), Ministry of
Electronics & IT (MeitY), in partnership with the Geological Survey of India (GSI), Ministry of
Mines, has launched the IndiaAI Hackathon on Mineral Targeting.
● This initiative aims to leverage AI and ML technologies to enhance mineral discovery and
geological analysis by utilizing multi-parametric geoscience datasets, including geology,
geophysics, geochemistry, remote sensing, and borehole data.

India-Malaysia Bilateral Meeting Focuses on Trade & Investment Cooperation

● The Union Minister of State for Commerce & Industry and Electronics & IT, Shri Jitin Prasada,
held a bilateral meeting with Liew Chin Tong, Malaysian Deputy Minister of Investment, Trade,
and Industry at Vanijya Bhawan, New Delhi.
● Senior officials from both countries, including representatives from Malaysia’s Ministry of
Investment, Trade & Industry and India’s Ministry of Commerce & Industry, Ministry of Electronics
& IT, Ministry of External Affairs, and the Bureau of Indian Standards (BIS), were present.
● Both sides agreed to accelerate the ASEAN-India Trade in Goods Agreement (AITIGA) review to
achieve a substantial conclusion by 2025.

New Zealand Prime Minister Christopher Luxon’s Visit to India (March 16-20, 2025)
● The Prime Minister of New Zealand, Rt Hon Christopher Luxon, visited India from March 16-20,
2025, at the invitation of Prime Minister Narendra Modi.
● This was his first official visit to India, aimed at strengthening bilateral ties across key sectors
such as trade, investment, defence, education, and multilateral cooperation.
● He Participated in the 10th edition of the Raisina Dialogue as the Chief Guest.
About New Zealand
● Capital: Wellington
● Currency: Dollar
● Head of the State: British Monarch King Charles III
● Prime Minister: Christopher Luxon

Delhi Government to Implement PM-ABHIM Scheme: 1,139 U-AAMs to Strengthen Healthcare

Infrastructure

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 Important Monthly Current Affairs Capsule – March 2025

● The Delhi government will sign a Memorandum of Understanding (MoU) with the Ministry of
Health and Family Welfare to implement the Pradhan Mantri Ayushman Bharat Health
Infrastructure Mission (PM-ABHIM).
● This initiative aims to enhance primary healthcare services and improve preparedness for future
pandemics.

Bharat Electronics Limited Signs ₹2,906 Crore Deal with Ministry of Defence for Indigenous Ashwini
Low-Level Transportable Radar Radar
● In a major boost to India’s air defence capabilities, Bharat Electronics Limited (BEL) has signed
a ₹2,906 crore contract with the Ministry of Defence (MoD) for the procurement of the Low-Level
Transportable Radar (L LTR) Ashwini.
● The indigenously developed radar, designed by DRDO’s Electronics & Radar Development
Establishment (LRDE), strengthens India’s surveillance and tracking systems for aerial threats.
Unique Identification Authority of India & IIIT-Hyderabad Launch Biometric SDK Benchmarking
Challenge
● 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, focusing
on fingerprint authentication for children aged 5-10 years.

Lanka India Business Association (LIBA) Launched to Strengthen Economic Ties

● The Lanka India Business Association (LIBA) has been officially launched in Sri Lanka to
enhance economic collaboration between India and Sri Lanka.
● As India is projected to become the world’s second-largest economy by 2075, this initiative
aims to foster trade, investment, and business networking between the two nations.

Ministry of Rural Development and United Nations Children’s Fund YuWaah Sign SOI to Empower
Rural Women and Youth
● The Ministry of Rural Development (MoRD) and United Nations Children’s Fund (UNICEF)
YuWaah have signed a Statement of Intent (SOI) for a three-year partnership to empower
rural women and youth across India.
● Objective: Create livelihood opportunities for rural women through jobs, self-employment,
entrepreneurship, and skill-building

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 Important Monthly Current Affairs Capsule – March 2025

● Target Group: Women from Self-Help Groups (SHGs) to boost female labour force
participation in rural areas
Pilot Initiative: Digital Infrastructure & Economic Empowerment
● Computer Didi Centers & Didi ki Dukan to be established in five blocks across five states:
o Andhra Pradesh
o Jharkhand
o Madhya Pradesh
o Odisha
o Rajasthan

3rd India-Uganda Joint Trade Committee (JTC) Session Strengthens Bilateral Trade Relations
● The Third Session of the India-Uganda Joint Trade Committee (JTC) was held in New Delhi
on March 25-26, 2025, marking a significant milestone in strengthening India-Uganda trade
relations after a gap of 23 years.
● Bilateral Trade Review: Both nations acknowledge that the current trade volume does not
reflect the full potential and agree to enhance, deepen, and diversify trade.
● Formation of India-Uganda Joint Business Forum: To boost engagement between industry
leaders from both countries.
About Uganda:
● Capital: Kampala
● Currency: Ugandan Shilling
● President: Yoweri Museveni
● Prime minister: Robinah Nabbanja

India, Japan likely to sign pact on sharing emission-reduction credits

● India and Japan are finalizing the Joint Crediting Mechanism (JCM) to share emission
reduction credits.
● A Memorandum of Cooperation (MoC) is expected to be signed within two months.
● The initiative aligns with Article 6.2 of the Paris Agreement, promoting decarbonization
technologies through Japanese investments

Vodafone Idea partners with West Bengal’s export body to boost MSME digital transformation

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 Important Monthly Current Affairs Capsule – March 2025

● Vodafone Idea (Vi) signed an MoU with the West Bengal State Export Promotion Society
(WBSEPS) to support MSMEs in their digital journey.
● Objective: Accelerate digital adoption among MSMEs in West Bengal, benefiting over 10
million people employed in the sector.
● This collaboration is expected to enhance MSME competitiveness, drive economic growth,
and improve digital literacy in the state.
● Scope:
o Vi will provide localized digital tools and training modules in Bengali.
o Conduct webinars to enhance tech adoption among MSMEs.
o Leverage Vi’s digital assessment and advisory initiative, which has evaluated 9 lakh
MSMEs nationwide since 2022.

India, Singapore Sign Letter of Intent (Loi) On Green Shipping & Digital Corridor Collaboration
● India and Singapore signed a letter of intent (LoI) for a green and digital shipping corridor
(GDSC) during the Singapore Maritime Week (SMW) in Delhi.
● Union minister Sarbananda Sonowal led key discussions and bilateral meetings
in Singapore to enhance maritime cooperation.
● The LoI was signed by Lakshmanan (MOPSW, India) and Teo Eng Dih (Maritime and Port
Authority, Singapore) to collaborate on maritime digitalisation and decarbonisation.
● This partnership aims to accelerate low-emission technologies and digital innovations in the
shipping sector, promoting sustainability and efficiency.

Competition Commission of India Signs Memorandum of Understandings with Global Regulators for
Competition Law Cooperation
● CCI investigated 35 cartel cases across multiple sectors over the last five financial
years (till 03.2025) and Signed MoUs with Egypt, Mauritius, Japan, Brazil, BRICS, Canada,
European Commission, Australia, and the U.S. Department of Justice (DOJ) for enforcement
cooperation in competition law.
● 14 Free Trade Agreements (FTAs) signed by India include competition law provisions to
prevent anti-competitive activities.

Bharat Petroleum Corporation Limited Signs Memorandum of Understanding for World’s First
Hydrogen-Fuelled Vertical Take-off and Landing Aircraft Ecosystem

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 Important Monthly Current Affairs Capsule – March 2025

● Bharat Petroleum Corporation Limited (BPCL) has signed a quadripartite Memorandum of

Understanding (MoU) with BluJ Aerospace, the Agency for New and Renewable Energy
Research and Technology (ANERT), Kerala, and Cochin International Airport Limited to
develop the first hydrogen-powered Vertical Take-off and Landing (VTOL) aircraft ecosystem
globally.

Garden Reach Shipbuilders & Engineers Signs Memorandum of Understanding with PWD Nagaland for
Modular Steel Bridges
● Garden Reach Shipbuilders & Engineers (GRSE) saw a 3.23% surge in stock
price to ₹1,694.15 after signing a Memorandum of Understanding (MoU) with PWD
Nagaland for the supply of eight double-lane modular steel bridges in the state.
● First-ever MoU between GRSE and a North Eastern state.
● Supports the “Make in India” initiative for regional development.
● Aims to enhance infrastructure connectivity in Nagaland.

India’s Hyperloop Research Gets a Boost: Research Designs and Standards Organisation Signs
Memorandum of Understanding with IIT Madras
● India has taken a significant step towards developing Hyperloop technology by establishing
a Centre of Excellence at IIT Madras.
● The Research Designs and Standards Organisation (RDSO), under the Ministry of Railways,
has signed a Memorandum of Understanding (MoU) with IIT Madras, allocating ₹20.89
crore for research and infrastructure development.

Department for Promotion of Industry and Internal Trade & Kyndryl Solutions Sign Memorandum of
Understanding to Boost India’s Startup Ecosystem
● The Department for Promotion of Industry and Internal Trade (DPIIT) and Kyndryl Solutions
Private Limited have signed a Memorandum of Understanding (MoU) to accelerate
innovation and scale India’s startup ecosystem.
● The collaboration aims to support startups in manufacturing and IT sectors by leveraging
Kyndryl’s expertise in digital transformation and Generative AI solutions.

DPIIT & YES BANK Sign MoU to Strengthen India’s Startup Ecosystem

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 Important Monthly Current Affairs Capsule – March 2025

● The Department for Promotion of Industry and Internal Trade (DPIIT) has signed
a Memorandum of Understanding (MoU) with YES BANK to support startups, innovators, and
entrepreneurs across India.
● This collaboration will enhance financial access, market linkages, and mentorship
opportunities for early-stage ventures.
About DPIIT:
● Headquarters: New Delhi, India
● Parent Ministry: Ministry of Commerce and Industry, Government of India
● Established: Originally set up as the Department of Industrial Policy & Promotion (DIPP) in
1995; renamed DPIIT in 2019
Andhra Pradesh to Sign MoU with Bill & Melinda Gates Foundation for AI-Driven Development
● The Government of Andhra Pradesh is set to sign a Memorandum of Understanding
(MoU) with the Bill & Melinda Gates Foundation in New Delhi.
● This agreement marks a significant step toward integrating Artificial Intelligence (AI), digital
technologies, and data-driven governance across key sectors like healthcare, education,
agriculture, and employment.

India-Australia Strengthen Defence Cooperation at 9th Defence Policy Talks

● India and Australia have reaffirmed their commitment to enhancing defence cooperation and
interoperability across maritime, land, and air domains.
● The discussions took place during the 9th India-Australia Defence Policy Talks
(DPT) in New Delhi.
● Both nations emphasized maritime domain awareness, reciprocal information sharing, and
defence technology collaboration.
● The meeting also reviewed past defence dialogues and set priorities for the upcoming 2+2
Ministerial Dialogue in Australia.

ACQUISITION & MERGERS

Fintech startup Mintoak Acquires Digiledge in India’s First E-Rupee Deal Worth $3.5 Million
● Mintoak, a PayPal-backed fintech startup, has acquired Digiledge in a deal valued at
approximately $3.5 million, marking the first acquisition in India’s central bank digital currency (CBDC)
space.

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 Important Monthly Current Affairs Capsule – March 2025

● Mumbai-based Mintoak, which provides merchant payment solutions to banks, completed the
acquisition to enhance its digital payment capabilities.
● Digiledge, a firm specializing in CBDC and bill payments, will now integrate its services with
Mintoak’s platform.
● With this acquisition, Mintoak aims to offer advanced CBDC-related payment solutions to its
partner banks, including HDFC Bank, Axis Bank, and SBI.

Jio Financial Services to acquire State Bank of India’s entire stake worth Rs 104 crore in Jio Payments
Bank
● Jio Financial Services Limited (JFSL) has announced the acquisition of the remaining stake in Jio
Payments Bank Limited (JPBL), making it a wholly owned subsidiary.
● Currently, JFSL holds an 82.17% stake in JPBL, with the remaining shares owned by the State
Bank of India (SBI).
● As per the company’s disclosure to stock exchanges, the Board of Directors has approved the
acquisition of 7,90,80,000 equity shares from SBI for a total consideration of ₹104.54 crore.
● With this acquisition, JFSL will gain complete control over JPBL, strengthening its presence in
the digital banking and fintech space.
● However, the transaction is subject to approval from the Reserve Bank of India (RBI) and is
expected to be completed within 45 days of receiving the necessary regulatory clearance.

Competition Commission of India clears ONGC-NTPC Green's proposal to acquire Ayana for Rs 19,500
crore
● The Competition Commission of India (CCI) has approved ONGC-NTPC Green's acquisition of
Ayana Renewable Power Pvt Ltd for ₹19,500 crore (USD 2.3 billion).
● ONGC-NTPC Green Pvt Ltd (ONGPL) is a 50:50 joint venture between ONGC Green (OGL) and
NTPC Green Energy Ltd (NGEL).
● In February 2025, ONGPL signed a share purchase agreement to acquire a 100% stake in
Ayana Renewable Power.
● This deal marks the second-biggest transaction in India's renewable energy sector, following
Adani Green Energy's USD 3.5 billion acquisition of SB Energy India in 2021.
About CCI:
● The Competition Commission of India (CCI) is a statutory body within the Ministry of Corporate
Affairs and is responsible for enforcing the Competition Act of 2002.

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 Important Monthly Current Affairs Capsule – March 2025

● Founded: October 14, 2003

● Headquarters: New Delhi, India
● Chairperson: Ravneet Kaur

Competition Commission of India (CCI) Approves ORIX’s Stake Sale in Greenko Energy Holdings to
AMG Green Power B.V.
● The Competition Commission of India (CCI) has approved AMG Green Power B.V. (AMG
Power)’s acquisition of a stake in Greenko Energy Holdings (GEH) from ORIX Corporation.
● Additionally, CCI has cleared the issuance of convertible notes by AM Green (Luxembourg)
S.À.R.L (AMG Lux) to ORIX Corporation.
● Under the proposed transaction, AMG Power will acquire a portion of ORIX’s shareholding in
GEH, while ORIX will subscribe to convertible notes issued by AMG Lux.
● AMG Power is a newly established entity with no business operations globally or in India, and
AMG Lux functions solely as a holding company.

Asset Reconstruction Company (India) Ltd (Arcil) Acquires Ujjivan Small Finance Bank’s stressed
microfinance loans aggregating ₹365.5 crore for ₹34.26 crore
● Asset Reconstruction Company (India) Ltd (Arcil) has acquired Ujjivan Small Finance Bank’s
(SFB) non-performing and written-off microfinance loans worth ₹365.5 crore for ₹34.26 crore, implying a
94% haircut for Ujjivan SFB.
● The bank had an overall provision of 66.51% on this loan portfolio.
● The acquisition was conducted through a Swiss Challenge auction process, as per Arcil’s
statement.
● Pallav Mohapatra, MD & CEO of Arcil, stated that the company aims to leverage its expertise in
recoveries to unlock value from the acquired loans while supporting financial stability in the microfinance
sector.
About Asset Reconstruction Company:
● Founded: 2002
● Headquarters: Mumbai, Maharashtra
● Regulated by: Reserve Bank of India (RBI)
● Ownership: Jointly owned by banks and financial institutions, including SBI, ICICI Bank, IDBI
Bank, and PNB.
About Ujjivan Small Finance Bank:

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 Important Monthly Current Affairs Capsule – March 2025

● Founded: 2017 (Converted from Ujjivan Financial Services, which started in 2005)
● Headquarters: Bengaluru, Karnataka
● MD & CEO: Sanjeev Nautiyal

Tata Sons increases stake in Tata Play following Competition Commission of India approval
● The Competition Commission of India (CCI) has approved Tata Sons’ acquisition of an additional
10% stake in Tata Play from Temasek-owned Baytree Investments.
● This action has raised Tata Sons’ ownership in the entertainment content distribution
platform to 70%.
● Tata Sons purchased the shares for approximately $100 million, valuing Tata Play at $1 billion.
● Walt Disney retains the remaining 30% stake.

Hindustan Unilever Limited (HUL), gets Competition Commission of India approval to acquire Minimalist
in Rs 2,670 crore deal
● The Competition Commission of India (CCI) approved FMCG major Hindustan Unilever’s (HUL)
proposal to acquire beauty and personal care brand Minimalist’s parent company Uprising
Science.
● Jaipur-based Uprising Science is engaged in the manufacturing and sale of beauty and personal
care products, baby care, and hair care items under the brand name ‘Minimalist’.
● Hindustan Unilever Ltd (HUL), a leading FMCG player, owns more than 50 brands,
including Lakme, Lux, Knorr, Kwality Wall’s, and Surf Excel.
● In January, HUL announced that it has signed and executed a share purchase and subscription
agreement for the acquisition of 90.5% shareholding of Uprising Science—the firm
behind Minimalist—comprising a secondary buyout for a cash consideration of Rs 2,670 crore at
a pre-money enterprise valuation of Rs 2,955 crore.

Patanjali Ayurved, DS Group to acquire Magma General Insurance for ₹4,500 crore
● Patanjali Ayurved and DS Group will acquire Magma General Insurance for ₹4,500 crore.
● Magma General Insurance (formerly Magma HDI General Insurance) is majority-owned by Sanoti
Properties LLP.
● Sanoti Properties LLP is jointly held by Adar Poonawalla and Rising Sun Holdings Pvt Ltd.
● The Insurance Regulatory and Development Authority of India (IRDAI) aims for “Insurance for All
by 2047.”

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 Important Monthly Current Affairs Capsule – March 2025

● The sector is experiencing reforms, including 100% Foreign Direct Investment (FDI) approval.
● The acquisition marks Patanjali’s entry into the general insurance sector.

Competition Commission of India Approves Cube Highways’ Strategic Infrastructure Acquisitions

● The Competition Commission of India has approved acquisition of Athaang Devanahalli
Tollway Private Limited, Athaang Jammu Udhampur Highway Private Limited and Quazigund
Expressway Private Limited by Cube Highways Trust and Cube Highways and Infrastructure
V Pte. Ltd.
● The Proposed Combination envisages:
1. acquisition of 100% shareholding of Athaang Devanahalli Tollway Private Limited (ADTPL) by
Cube Highways and Infrastructure V Pte. Ltd. (Cube V); and
2. acquisition of 100% shareholding of (i) Athaang Jammu Udhampur Highway Private Limited
(AJUHPL), and (ii) Quazigund Expressway Private Limited (QEPL) by Cube Highways Trust
(Cube Trust).

Competition Commission of India (CCI) Clears Proposed Combination Involving Maple Infrastructure &
360 ONE PE
● The Competition Commission of India (CCI) has approved a proposed combination
involving Maple Infrastructure Trust (MIT), CDPQ Infrastructures Asia III Inc. (CDPQ Asia),
Maple Highways Pte. Ltd., 360 ONE Private Equity Fund, and certain road assets of
the Ashoka Buildcon group.
● The combination involves MIT acquiring Ashoka Dhankuni Kharagpur Tollway Limited
(ADKTL), Ashoka Sambalpur Baragarh Tollway Limited (ASBTL), Ashoka Belgaum Dharwad
Tollway Limited (ABDTL), Ashoka Highways (Bhandara) Limited (AHBL), and Ashoka
Highways (Durg) Limited (AHDL), along with interconnected transactions.
● MIT is a private trust registered as an infrastructure investment trust under SEBI
regulations and is engaged in owning and operating road assets in India.
● Maple Infra Invit Investment Manager Private Limited (Maple IM) is the investment
manager of MIT.
● CDPQ Asia is a wholly owned subsidiary of Caisse de dépôt et de placement du Québec
(CDPQ), a global investment group managing pension and insurance funds from Québec.

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 Important Monthly Current Affairs Capsule – March 2025

Major Road Asset Deal: Competition Commission of India Clears Epic Concesiones 2’s Acquisition of
Ashoka special purpose vehicles (SPVs)
● The Competition Commission of India (CCI) has approved the acquisition of 100% equity
shareholding in 11 road special purpose vehicles (SPVs) owned by Ashoka Concessions
Limited (ACL) and Ashoka Buildcon Limited (ABL) by Epic Concesiones 2 Private Limited
(EC2PL).
● The Proposed Combination involves EC2PL acquiring full equity shareholding in the 11 road
SPVs from ACL and ABL (Proposed Equity Transaction).
● EC2PL is a private limited company engaged in owning and operating infrastructure projects.
● EC2PL is owned by Infrastructure Yield Plus II (IYP II) and Infrastructure Yield Plus IIA (IYP
IIA), which are schemes of the Infrastructure Yield Trust, an irrevocable and determinate
contributory investment trust under the Indian Trusts Act, 1882.

Reliance Industries Acquires 100% Equity in Nauyaan Tradings

● Reliance Strategic Business Ventures Limited (RSBVL), a wholly owned subsidiary of
Reliance Industries Limited (RIL), has acquired 100% equity in Nauyaan Tradings Private
Limited (NTPL) for ₹100,000 from Welspun Tradings Limited, a subsidiary of Welspun Corp
Limited.
● This acquisition, effective March 20, 2025, makes NTPL a step-down wholly owned subsidiary
of
● Subsequently, NTPL entered into a share purchase agreement to acquire a 74% equity stake
in Nauyaan Shipyard Private Limited (NSPL) from Welspun Corp for ₹382.73 crore, subject to
adjustments for expenses and net current assets.
● The transaction is expected to be completed by March 21, 2025.

PayU acquires 43.5% stake in payments technology firm Mindgate

● PayU, the fintech arm of Prosus, has acquired a 43.5% strategic stake in Mindgate Solutions,
a real-time payments tech company.
● This partnership strengthens PayU’s presence in India’s real-time payments sector while
leveraging Mindgate’s expertise to drive global digital payment innovations.
● Mindgate’s founders will retain majority ownership.
● The investment will help PayU contribute to India’s evolving digital payment landscape,
particularly in instant payment systems like UPI, developed by NPCI.

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 Important Monthly Current Affairs Capsule – March 2025

About PayU:
● Headquarters: Hoofddorp, Netherlands
● Founded: 2002
● CEO: Anirban Mukherjee
● Parent Company: Prosus
● Key Products: Payment Gateway, PayU Biz, PayU Credit, LazyPay, PayU Enterprise
Solutions

Hindustan Unilever approves 14.3% stake acquisition in recycling firm Lucro Plastecycle
● Hindustan Unilever Ltd (HUL) has approved an investment to acquire a 14.3% stake in Lucro
Plastecycle Pvt Ltd.
● This move aligns with HUL’s commitment to a circular economy by enhancing plastic
recycling and increasing the use of recycled content in packaging.
● Lucro Plastecycle Pvt Ltd is an integrated waste management and recycling firm focused on
post-consumer flexible plastics.
● Flexible plastics recycling is challenging, and this investment aims to promote sustainable
solutions and expand recycled plastic usage in packaging across the industry.
About Hindustan Unilever Limited (HUL)
● Headquarters: Mumbai, Maharashtra, India
● Founded: 1933 (as Hindustan Vanaspati Manufacturing Company)
● CEO & MD: Rohit Jawa

Bain Capital to acquire 18% stake in Manappuram Finance for ₹4,385 crore
● Bain Capital, a US-based private investment firm, will invest ₹4,385 crore to acquire an 18%
stake in Manappuram Finance Ltd.
● The deal gives Bain Capital joint control of India’s second-largest gold financier, while
existing promoters will remain fully invested.
● The investment aims to drive growth, enhance operational excellence, strengthen leadership,
and expand presence across key segments.
● Mandatory open offer: The deal will trigger an open offer to acquire an additional 26%
stake on an expanded capital basis (excluding warrants).
About Manappuram Finance:
● Headquarters: Thrissur, Kerala, India

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 Important Monthly Current Affairs Capsule – March 2025

● Founded: 1949
● CEO: V.P. Nandakumar
● Industry: Non-Banking Financial Company (NBFC)

RANKING AND INDEX

Top 10 Richest Countries by GDP Per Capita in 2025
● The global economy is projected to grow at a steady 3.3% in 2025 and 2026, according to the
International Monetary Fund (IMF).
● A key measure of economic prosperity is GDP per capita, adjusted for Purchasing Power Parity
(PPP), which provides a more accurate comparison of living standards across nations.
● India, the fifth-largest economy in the world, faces a notable difference in GDP per capita,
ranking in the bottom 100 countries (rank: 124th, as reported by Forbes) with a GDP per capita of
$11.94 thousand in 2025.
Top 10 Richest Countries by GDP Per Capita in 2025
● Rank ● Country ● GDP-PPP
per Capita (Intl. $)
● 1 ● Luxembourg ● $154.91K

● 2 ● Singapore ● $153.61K

● 3 ● Macau SAR ● $140.25K

● 4 ● Ireland ● $131.55K

● 5 ● Qatar ● $118.76K

● 6 ● Norway ● $106.54K

● 7 ● Switzerland ● $98.14K

● 8 ● Brunei ● $95.04K
Darussalam
● 9 ● Guyana ● $91.38K

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 Important Monthly Current Affairs Capsule – March 2025

● 10 ● United States ● $89.68K

Amul Ranked 3rd Most Valued Brand in YouGov India Value Rankings 2025
● Amul, India’s largest milk cooperative, has been ranked as the third most valued brand in the
YouGov India Value Rankings 2025.
● The only FMCG brand in the top three, alongside Amazon and Flipkart.
● Recognition underscores Amul’s cooperative model, ensuring fair pricing for farmers and
affordable dairy products for consumers.
Amul’s Market Standing
● Ranked No.1 in Tier-2 cities.
● Among the top three in Tier-1 and Tier-3 cities.
● Ranks third among male consumers and second among female consumers.

IndiGo Becomes the World’s Second Fastest-Growing Airline in 2024

● IndiGo Airlines ranked as the world’s second fastest-growing airline regarding seat capacity,
which increased by 10.1% year-on-year (YoY) to 134.9 million seats in 2024.
● Qatar Airways secured the top position with a 10.4% growth in seat capacity.
● IndiGo ranked as the fastest-growing airline globally in terms of flight frequency growth, recording
a 9.7% YoY increase.
● Total flights operated: 749,156 in 2024.

Glass-Ceiling Index: Top 10 best countries for working women in 2025

● International Women’s Day (March 8) highlights progress and challenges in gender equality.
● The Glass-Ceiling Index (GCI) by The Economist ranks countries based on workplace inclusivity
for women.
● Sweden reclaims the top spot, surpassing Iceland.
● Japan, Turkey, and South Korea remain at the lower end due to persistent gender gaps.
Global Trends in Women’s Workforce Representation
Political Landscape: A Historic Year for Elections
● Women’s parliamentary representation increased to 34% globally (OECD report).
● Notable shifts in representation:
o Japan: Increased from 10% to 16%.

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 Important Monthly Current Affairs Capsule – March 2025

o Britain: Grew from 35% to 41%.

o United States: Declined slightly to 28.7%.
Top 10 Best Countries for Working Women in 2025
● Rank ● Country ● Region
● 1 ● France ● Europe
● 2 ● Spain ● Europe
● 3 ● Australia ● Oceania
● 4 ● Sweden ● Europe
● 5 ● Portugal ● Europe
● 6 ● Norway ● Europe
● 7 ● Finland ● Europe
● 8 ● Denmark ● Europe
● 9 ● New Zealand ● Oceania
● 10 ● Iceland ● Europe

Hurun Global Rich List 2025: India Ranks Third with 284 Billionaires
● The Hurun Global Rich List 2025 has been released, showcasing significant shifts in global
billionaire rankings.
● Shanghai has overtaken Mumbai as Asia’s billionaire capital, and India remains third
globally with 284 billionaires.
India’s Position in the Hurun Global Rich List 2025
● Global Rank: India ranks third after the United States (870 billionaires) and China (823
billionaires).
● Total Wealth: Indian billionaires’ cumulative wealth stands at ₹98 lakh crore, a 10%
increase from last year.
● Wealth Growth:
o 175 Indian billionaires saw an increase in wealth.
o 109 billionaires experienced a decline or no change in wealth.
● Billionaire Cities:
o Shanghai has overtaken Mumbai as Asia’s billionaire hub (Shanghai: 92, Mumbai:
90).

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 Important Monthly Current Affairs Capsule – March 2025

o Bengaluru and Mumbai are home to seven billionaires under 40.

o Two Indian billionaires are just 34 years old.
India’s Richest Individuals (2025)
● Mukesh Ambani (Reliance Industries) reclaims the title of Richest Person in Asia, despite a ₹1
lakh crore decline in his wealth.
● Gautam Adani (Adani Group) becomes the biggest wealth gainer, with a ₹1 lakh crore
increase (13%), taking his net worth to ₹8.4 lakh crore, just behind Ambani’s ₹8.6 lakh crore.
Top 10 Billionaires in the World (2025)
The list continues to be dominated by Silicon Valley billionaires, with 9 out of 10 spots held by American
business magnates.
Rank Name Company Net Worth (USD)

1 Elon Musk Tesla $420 billion

2 Jeff Bezos Amazon $266 billion

3 Mark Zuckerberg Meta $242 billion

4 Larry Ellison Oracle $203 billion

5 Warren Buffett Berkshire Hathaway $167 billion

6 Larry Page Alphabet (Google) $164 billion

7 Bernard Arnault LVMH $157 billion

8 Steve Ballmer Microsoft $156 billion

9 Sergey Brin Alphabet (Google) $148 billion

10 Bill Gates Microsoft $143 billion

Roshni Nadar Becomes First Indian Woman in World’s Top 10 Richest Women
● Roshni Nadar, Chairperson of HCL Technologies, is now the first Indian woman to enter
the world’s top 10 richest women
● Ranked 5th in the Hurun Global Rich List 2025, with a net worth of ₹3.5 lakh crore (US$40
billion).
● Her wealth surged after inheriting a 47% stake in HCL Technologies from her father, Shiv
Nadar.
● She remains India’s richest woman and the third-richest person in India in 2025.

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 Important Monthly Current Affairs Capsule – March 2025

Hurun Global Rich List 2025: Top 10 Wealthiest Women

Net Worth
Rank Name Country Industry
(US$ Billion)

1 Alice Walton 102 USA Retail (Walmart)

Francoise
2 Bettencourt 67 France Cosmetics (L’Oréal)
Meyers

Julia Koch & Diversified (Koch

3 60 USA
Family Industries)

Food & Beverage (Mars

4 Jacqueline Mars 53 USA
Inc.)

5 Roshni Nadar 40 India IT (HCL Technologies)

Finance (Fidelity
6 Abigail Johnson 32 USA
Investments)

Investments
Marilyn Simons &
7 31 USA (Renaissance
Family
Technologies)

Linda Stephens & Energy (Endeavor

8 30 USA
Family Energy Resources)

India’s Happiness Ranking Improves in World Happiness Report 2025

● India’s ranking in the World Happiness Report 2025 has shown steady improvement, climbing
to 118th out of 147 countries, compared to 139th in 2020.
● The report, released by the University of Oxford’s Wellbeing Research Centre in collaboration
with Gallup and the UN Sustainable Development Solutions Network, highlights key factors
such as economic growth, improved perception of corruption, and rising personal freedom as
contributors to India’s upward trend.
Key Findings of the World Happiness Report 2025
India’s Performance
● Current Rank (2025): 118
● Previous Rank (2024): 126

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 Important Monthly Current Affairs Capsule – March 2025

● Best Rank: 94 (2011)

● Lowest Rank: 144 (2019)
Top 5 Happiest Countries
1. Finland (1st for the 8th consecutive year)
2. Denmark
3. Iceland
4. Sweden
5. Netherlands
Notable Changes
● Costa Rica (6th) and Mexico (10th) entered the top 10 for the first time.
● The US dropped to 24th due to rising social isolation, particularly among young adults.
● The UK ranked 23rd, its lowest position since 2017.
Bottom 5 Unhappiest Countries
143. Zimbabwe
144. Malawi
145. Lebanon
146. Sierra Leone
147. Afghanistan (Unhappiest for the fourth consecutive year).
Understanding the World Happiness Index
● First Published: 2012
● Released By:
o Wellbeing Research Centre (University of Oxford)
o Gallup
o UN Sustainable Development Solutions Network

ENVIRONMENT
World’s largest iceberg stuck near Antarctic island after 40-year journey
● The world's largest iceberg, A23a, calved from the Antarctic ice shelf in 1986 and remained
grounded for over 30 years before breaking free in 2020.
● Its recent journey north has been tracked via satellite, and as of March 1st, it is grounded 73km
from South Georgia Island.
● A 19km chunk broke off of it in January 2025.

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 Important Monthly Current Affairs Capsule – March 2025

● Initial concerns existed that if the iceberg grounded too close to South Georgia, it would force
penguins and seals to travel further for food, increasing mortality rates.

BOOKS & AUTHOURS

MS Dhoni, Michael Hussey unveil CSK’s new book at grand event in Chennai
● PS Raman’s book ‘Leo — The Untold Story of CSK’ was launched at a city hotel, with MS
Dhoni, Stephen Fleming, and Mike Hussey attending the event.
● CD Gopinath, the oldest surviving Test cricketer in India, unveiled the book and presented the
first copy to Anirudh Ravichander.
● Former cricketers K Srikkanth, Brijesh Patel, WV Raman, and S Badrinath were also present.

“Stumped: Life Behind and Beyond the Twenty-Two Yards” – Syed Kirmani’s Autobiography on Cricket
& the 1983 World Cup
● The book “Stumped”, co-authored by Syed Kirmani, Debashish Sengupta, and Dakshesh
Pathak, offers an engaging account of Kirmani’s career and India’s historic 1983 Cricket World
Cup victory.
● It provides insights into Kapil Dev’s iconic 175-run knock against
Zimbabwe and Kirmani’s contributions as a legendary wicketkeeper.

‘March of Glory’ Book Launched to Mark 50 Years of India’s 1975 Hockey World Cup Victory
● To commemorate the Golden Jubilee of India’s first and only Hockey World Cup victory in
1975, a book titled ‘March of Glory’ was officially launched, at Shivaji Stadium, New Delhi.
● The book, co-authored by hockey historian K. Arumugam and journalist Errol D’Cruz,
chronicles the historic triumph of the Indian hockey team in Kuala Lumpur on March 15, 1975.

SPORTS NEWS
Australian cricketing legend Steve Smith Announces Retirement from One-Day Internationals
● Australian cricketing legend Steve Smith has announced his retirement from One-Day
Internationals (ODIs), ending an illustrious career in the 50-over format.
● Known for his unorthodox yet effective batting technique, Smith played a pivotal role in
Australia’s ODI success, evolving from a leg-spinning all-rounder to one of the most dependable middle-
order batters.

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 Important Monthly Current Affairs Capsule – March 2025

● With 170 matches, 5800 runs, and two World Cup victories, Smith leaves behind an enduring
legacy in Australian cricket.
● However, he remains committed to Test and T20 cricket, focusing on upcoming international
assignments.

Indian Grandmaster Pa Iniyan Wins Cannes International Open 2025

● Indian Grandmaster Pa Iniyan clinched the Cannes International Open title, defeating compatriot
V Pranesh in the ninth and final round in Cannes, France.
● Iniyan’s Final Score: 7.5 points, securing the title with a half-point lead.
● Runner-up: Aradhya Garg (7 points) – Delhi-based International Master.
● Third Place: Kazybek Noderbek (7 points) – World Junior Champion from Kazakhstan, placed
third on tiebreak.
● Unbeaten Streak: Iniyan remained undefeated with six wins and three draws.
● Elo Rating Gain: +12 points, taking his rating to 2579, bringing him closer to the 2600 Elo barrier.

Virat Kohli Reaches 300 ODI Matches – A Historic Milestone

● During the ICC Champions Trophy match against New Zealand in Dubai, Virat Kohli became the
seventh Indian and 22nd player in the world to play 300 One Day Internationals (ODIs).
● Kohli is the seventh Indian cricketer to reach 300 ODIs.
● Sachin Tendulkar holds the Indian record with 463 ODIs, followed by MS Dhoni (347 matches).
● Top Indian Players with Most ODI Matches
Player Span Matches Runs HS Ave 100s Wickets
Sachin 1989- 463 18426 200* 44.83 49 154
Tendulkar 2012
MS Dhoni 2004- 347 10599 183* 50.23 9 1
2019
Rahul Dravid 1996- 340 10768 153 39.15 12 4
2011
Mohammad 1985- 334 9378 153* 36.92 7 12
Azharuddin 2000
Sourav 1992- 308 11221 183 40.95 22 100
Ganguly 2007

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 Important Monthly Current Affairs Capsule – March 2025

Yuvraj Singh 2000- 301 8609 150 36.47 14 110

2017
Virat Kohli 2008- 300 14085 183 58.2 51 5
2025

Jay Shah Receives Icon of Excellence Award at Forbes India Leadership Awards 2025
● Jay Shah, Chairman of the International Cricket Council (ICC), has been awarded the prestigious
Icon of Excellence Award at the 14th Edition of the Forbes India Leadership Awards (FILA) 2025 for his
outstanding contributions to cricket administration and global expansion of the sport.
● Became ICC Chairman at 36 years old, the youngest in history.
● Focused on globalizing cricket, ensuring financial stability, and enhancing the game's
competitiveness.
Gulmarg Set to Host Khelo India Winter Games 2025 After Fresh Snowfall
● The Khelo India Winter Games (KIWG) 2025 will take place in Gulmarg, Jammu and Kashmir,
from March 9 to 12.
● The event, initially scheduled for February 22-25, was postponed due to insufficient snowfall.
● However, heavy snowfall (113 cm) between February 25-28 has now made the slopes ideal for
winter sports.

Vidarbha Clinches Third Ranji Trophy Title with Dominant Performance

● Vidarbha secured their third Ranji Trophy title in seven seasons, emerging victorious in the 2024-
25 final against Kerala in Nagpur.
● Led by Akshay Wadkar, the team won the championship on first-innings lead after the match
ended in a draw at the Vidarbha Cricket Association Stadium on March 2, 2025.
● First Innings: Vidarbha posted 379 runs, securing a crucial lead by restricting Kerala to 342.

Brandon Holt Clinches Bengaluru Open 2025 ATP Challenger Title

● The Bengaluru Open 2025 ATP 125 Challenger witnessed high-intensity tennis action,
culminating in an electrifying singles title victory for Brandon Holt (USA) over Shintaro Mochizuki (Japan)
at the KSLTA Tennis Stadium, Bengaluru.
● The tournament, part of the ATP Challenger Tour, carried a prize pool of $200,000 and was
played on hard courts.
Tournament Overview

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● Venue: KSLTA Tennis Stadium, Bengaluru

● Category: ATP Challenger 125
● Significance: Fourth and final ATP Challenger tournament in India after the Chennai Open, Delhi
Open, and Maharashtra Open

Sharath Kamal Announces Retirement from Table Tennis

● India’s legendary table tennis player Achanta Sharath Kamal has officially announced his retirement.
● His final appearance will be at the WTT Star Contender tournament, scheduled from March 25 to 30,
2025, at the Nehru Indoor Stadium in Chennai.
● The 42-year-old paddler has been India’s most decorated table tennis player, with numerous
accolades at the Commonwealth Games, Asian Games, and Olympics.
● Five-time Olympian and India’s highest-ranked TT player (World Rank 42 as of 2025).

ICC ODI Rankings Update: Kohli Rises to No. 4, Rohit Drops to No. 5
● Indian cricketer Virat Kohli has moved up to the No. 4 spot in the ICC ODI rankings for batters after
his match-winning knock against Australia in the ICC Champions Trophy semi-final in Dubai.
● His innings helped India secure a four-wicket victory, advancing them to the final, where they will
face either South Africa or New Zealand.
● Meanwhile, India captain Rohit Sharma has slipped two places to No. 5 in the ODI rankings.
● India’s vice-captain Shubman Gill continues to dominate the ICC ODI run-scorers list, maintaining
his No. 1 ranking. He is followed by Pakistan’s Babar Azam, who holds the second position.

Bangladesh’s seasoned wicketkeeper-batsman Mushfiqur Rahim Announces Retirement from ODIs

● Bangladesh’s seasoned wicketkeeper-batsman, Mushfiqur Rahim, has officially announced his
retirement from One Day Internationals (ODIs) following the conclusion of Bangladesh’s Champions
Trophy campaign.
● The 37-year-old veteran shared his decision on Instagram, marking the end of an illustrious 19-
year career in ODI cricket.
● Rahim stated that he had always given more than 100% dedication and honesty whenever he
represented Bangladesh.

Indian football icon Sunil Chhetri comes out of retirement at age 40

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 Important Monthly Current Affairs Capsule – March 2025

● Indian football legend Sunil Chhetri has decided to come out of international retirement to help
the Indian national team in the upcoming FIFA friendly matches in March 2025.
● The All India Football Federation (AIFF) confirmed the news, calling it a significant boost for the
team.
● AIFF officially announced Chhetri’s return on its 'X' (formerly Twitter) handle.
● His decision comes less than a year after he retired, leaving a void in the national squad.

Jay Shah Becomes ICC Chairman; Leadership Changes in Asian Cricket Council (ACC)
▪ Jay Shah’s Transition to ICC Chairman: Served three consecutive terms as ACC President
before vacating the position.
● Elected unopposed as ICC Chairman in December 2024.
● Officially assumed office on December 1, 2024.
● His exit led to a leadership reshuffle in the Asian Cricket Council (ACC).

Indian football icon Sunil Chhetri Reverses Retirement, Returns to Indian Football at 40
● Indian football icon Sunil Chhetri has made a sensational comeback to the national team at the
age of 40, reversing his retirement decision from June 2024.
● The all-time leading goal scorer for India had previously bid farewell after a World Cup qualifier
against Kuwait.
● However, recognizing his experience and leadership, head coach Manolo Marquez has recalled
Chhetri to strengthen India's campaign for the 2027 AFC Asian Cup qualification.

India Clinches Third ICC Champions Trophy Title

● India made history by winning the ICC Champions Trophy for the third time after defeating New
Zealand in the final.
● Chasing 252 runs, India secured victory at 252/6, showcasing skill, resilience, and teamwork.
Player of the Match & Tournament
● Award ● Player
● Player of the Match ● Rohit Sharma
● Player of the ● Rachin Ravindra
Tournament (263 Runs)
● India’s ICC Champions Trophy Titles

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 Important Monthly Current Affairs Capsule – March 2025

Pranav Venkatesh Wins 2025 World Junior Chess Championship

● Indian chess continues to shine as Grandmaster Pranav Venkatesh from Bengaluru secured the
2025 World Junior Chess Championship title in Petrovac, Montenegro.
● The 18-year-old finished unbeaten with a score of 9/11 (7 wins, 4 draws) in a competitive field of
157 players.
● In the decisive final round, Pranav played a draw against Lavrencic Matic (Slovenia) to clinch the
title.
● This triumph cements his place among India's chess greats.

Commonwealth Games Federation Rebrands as ‘Commonwealth Sport’ on Commonwealth Day 2025

● In a major rebranding initiative, the Commonwealth Games Federation (CGF) has officially
changed its public identity to Commonwealth Sport, marking a shift from a sports federation to a global
sports movement.
● This announcement was made on March 10, 2025, in celebration of Commonwealth Day.
● While the legal entity will still be known as the Commonwealth Games Federation, the public-
facing identity and branding will now operate under Commonwealth Sport to enhance global recognition
and emphasize unity, development, and inclusion through sports.

England’s Harry Brook Withdraws from IPL 2025; Faces Possible Two-Year Ban
● In a significant development ahead of IPL 2025, England batter Harry Brook has withdrawn from
the tournament for the second consecutive year.
Brook was signed by Delhi Capitals (DC) for ₹6.25 crores in the previous year’s auction but has opted
out before the season.
● His withdrawal could trigger a two-year ban from IPL, as per new regulations introduced by the
Board of Control for Cricket in India (BCCI).

Australia and England Set for Historic 150th Anniversary Day-Night Test at Melbourne Cricket Ground
● Test cricket is set to celebrate a monumental milestone as Australia and England face off in a
one-off day-night Test match to commemorate 150 years since the first-ever Test match.
● Cricket Australia (CA) has confirmed that the historic Melbourne Cricket Ground (MCG) will host
this pink-ball Test from March 11 to March 15, 2027.
● This highly anticipated clash not only pays tribute to Test cricket’s legacy but also reflects its
evolution into the modern era, with the introduction of the day-night format.

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 Important Monthly Current Affairs Capsule – March 2025

Khelo India Winter Games 2025: Indian Army Emerges as Overall Champion
● The Khelo India Winter Games 2025 (KIWG 2025), the fifth edition of India’s premier winter
sports event, was successfully conducted in two phases.
● The event, held under the Khelo India initiative by the Ministry of Youth Affairs and Sports, aimed
at promoting winter sports in India.
● Participation: 400+ athletes from 19 teams.
● Venues: Leh, Ladakh & Jammu & Kashmir.
● Overall Champion: Indian Army (most gold medals).

ICC Player of the Month Awards – February 2025: Shubman Gill & Alana King Win Top Honors
● The International Cricket Council (ICC) has announced the winners of the ICC Men’s and
Women’s Player of the Month Awards for February 2025.
● Men’s Player of the Month: Shubman Gill (India)
● Women’s Player of the Month: Alana King (Australia)
● Their exceptional performances in international cricket earned them this prestigious recognition.

England to Host Kabaddi World Cup 2025, Marking First-Ever Edition Outside Asia
● For the first time in history, the Kabaddi World Cup 2025 is being hosted outside Asia, with
England set to stage the tournament.
● The competition begins this evening, and the Indian men’s team will open their campaign against
Italy in Wolverhampton, West Midlands.
● This is the second edition of the Kabaddi World Cup organized by World Kabaddi.
● The first edition (2019) was held in Malaysia, where India won both the men’s and women’s
tournaments.
● This tournament is different from the International Kabaddi Federation (IKF) Kabaddi World Cup,
which has been exclusively hosted in India.

Jasprit Bumrah Joins Skechers as Brand Ambassador

● Renowned Indian fast bowler Jasprit Bumrah has signed with Skechers, the global Comfort
Technology Company, further strengthening its presence in cricket.
● Bumrah will now compete in Skechers Cricket footwear and feature in the brand’s marketing
campaigns, promoting both performance and lifestyle collections.

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 Important Monthly Current Affairs Capsule – March 2025

Indian Long-Distance Runner Archana Jadhav Banned for Doping

● Indian long-distance runner Archana Jadhav has been handed a four-year ban by World Athletics’
Athletes Integrity Unit (AIU) after testing positive for the banned substance Oxandrolone.
● The suspension, effective January 7, 2025, comes after Jadhav failed to contest the doping
charges despite multiple reminders.
● Archana Jadhav’s sample was collected during the Pune Half-Marathon in December 2024.
● The test detected Oxandrolone, a synthetic anabolic steroid used to enhance muscle growth and
increase protein production.
● Following the test results, Jadhav was provisionally suspended from January 7, 2025.
Notable Performances
● Delhi Half Marathon (October 2024) – Finished 4th in the elite Indian women’s race with a timing
of 1:20:21.

Board of Control for Cricket in India Announces ₹58 Crore Cash Reward for Team India After ICC
Champions Trophy 2025 Victory
● The Board of Control for Cricket in India (BCCI) has announced a cash reward of ₹58
crore for Team India, recognizing their remarkable triumph in the ICC Champions Trophy 2025.
● The reward extends to players, coaching staff, support personnel, and the Men’s Selection
Committee.
Total Cash Prize
● ₹58 crore distributed among players, coaches, support staff, and selectors.

India Concludes Special Olympics World Winter Games 2025 with 33 Medals
● India concluded its campaign at the Special Olympics World Winter Games 2025 in Turin, Italy,
with a total of 33 medals.
● The final day saw India securing 12 more medals, bringing the final tally to:
● 8 Gold
● 18 Silver
● 7 Bronze
Final Medal Breakdown by Sport

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 Important Monthly Current Affairs Capsule – March 2025

Total
Sport
Medals

Snowshoeing 10

Alpine Skiing 10

Snowboarding 6

Short Track Speed

4
Skating

Cross Country Skiing 2

Floorball 1
● This was the 12th edition of the Special Olympics Winter Games, happening after a long wait of 8
years.
● This was also the first time that Italy hosted the Special Olympics World Games.

Hockey Jharkhand Wins First-Ever Title at the 15th Hockey India Senior Women National
Championship 2025
● Hockey Jharkhand defeated Hockey Haryana in the final at Tau Devi Lal Complex, Panchkula,
Haryana.
● Historic Victory: First-ever national title for Hockey Jharkhand.
● Score: 1-1 draw in regulation time, followed by a 4-3 win in the penalty shootout.
History of the Hockey India Senior Women National Championship
Origins and Most Successful Teams
● First Edition: 2011, organized by Hockey India.
● Most Successful Team: Indian Railways (8 titles).
● Previous Champions: 2024 (14th Edition): Hockey Haryana
Title Records
● Indian Railways – 8 titles
● Hockey Haryana – 3 titles
● Hockey Madhya Pradesh – 2 titles
● Hockey Odisha & Hockey Jharkhand – 1 title each
About Hockey India
● Founded: 2009, replacing the Indian Hockey Federation.

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 Important Monthly Current Affairs Capsule – March 2025

● Responsible for: Organizing national and international hockey tournaments in India.

● President: Dileep Tirkey
● Headquarters: New Delhi

India Masters Clinch Inaugural International Masters League 2025 Title Under Legendary Leadership
● India Masters emerged triumphant in the inaugural International Masters League (IML)
2025, defeating West Indies Masters by six wickets in a thrilling grand finale at the SVNS
International Stadium.
● Match Awards:
o Player of the Match: Ambati Rayudu scored 74 runs off 50 balls.
o Masterstroke of the Match: Awarded to Ambati Rayudu for hitting 9 fours – Prize: ₹50,000.
o Most Sixes in the Match: Ambati Rayudu hit 3 sixes – Prize: ₹50,000.
● Season Awards:
o Most Fours in the Season: Kumar Sangakkara (38 fours) – Prize: ₹5,00,000.
o Most Sixes in the Season: Shane Watson (25 sixes) – Prize: ₹5,00,000.
● Prize Money Distribution:
o Winners (India Masters): ₹1 crore.
o Runners-up (West Indies Masters): ₹50 lakh.

India Tops Medal Tally at World Para Athletics Grand Prix 2025
● India emerged as the champion at the World Para Athletics Grand Prix 2025, held in New Delhi,
winning a total of 134 medals.
● This included 45 gold, 40 silver, and 49 bronze medals, marking a historic achievement in India’s
para-sports history.
● The event, hosted at Jawaharlal Nehru Stadium, was India’s first international para-athletics
event, which will now be held annually until 2028.
Key Performances by Indian Athletes

Event Medalist(s) Medal

Women’s 200m T35– Preethi Pal Bronze

T38

Women’s Long Jump Bhavani Munniyandi Bronze

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 Important Monthly Current Affairs Capsule – March 2025

T38, T44, T61

Vanessa Low (Australia) Gold

Zhanana Fekolina Silver

Men’s 200m T35 Dmitrii Safronov (Neutral Gold

Para Athletes)

Vinay Silver

Abhishek Babasaheb Bronze

Jadhav

Men’s Shot Put F11– Sagar Gold

F20

Janka Singh Silver

Balaji Rajendran Bronze

Women’s Long Jump Irina Sapanzha Gold

T20–T37

Valentina Silver

Bhuvi Agarwal Bronze

Men’s 200m T61–T64 Pranav Prashant Silver

Naresh Bronze

Women’s Discus Fatima Gold

Throw F56–F57

Suman Bala Silver

Asha Jalandar Bronze

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 Important Monthly Current Affairs Capsule – March 2025

Men’s 5000m T11–T12 Sharath Gold

Saurabh Silver

Ankur Bronze

Mumbai Indians Clinch Second Women’s Premier League Title in Three Seasons
● Mumbai Indians (MI) secured their second Women’s Premier League (WPL) title in three
seasons, defeating Delhi Capitals (DC) by 8 runs in a thrilling WPL 2025 final at Brabourne
Stadium, Mumbai.
Key Awards in WPL 2025
● Player of the Match: Harmanpreet Kaur (MI)
● Player of the Series: Nat Sciver-Brunt (MI)

Khelo India Para Games (KIPG) 2025 – Key Highlights

● The second edition of the Khelo India Para Games (KIPG) 2025 concluded after eight days of
intense competition, celebrating the determination and excellence of India’s para-athletes. The
event was held at three venues in New Delhi:
● Jawaharlal Nehru Indoor Stadium
● Indira Gandhi Indoor Stadium
● Karni Singh Shooting Range
● A total of 1,300 para-athletes participated, showcasing their resilience and talent.
Why in the News?
● Haryana topped the medal tally with 34 golds, followed by Tamil Nadu (28 golds) and Uttar
Pradesh (23 golds).
● 18 national records were broken, highlighting India’s increasing competitiveness in para-
sports.
Haryana’s Continued Dominance
Haryana continued its supremacy in KIPG, maintaining its top rank in the medal tally:
Year Gold Silver Bronze Total Medals Rank

2023 40 39 26 105 1st

2025 34 39 31 104 1st

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 Important Monthly Current Affairs Capsule – March 2025

Meanwhile, Tamil Nadu improved its ranking, jumping from 3rd place in 2023 to 2nd place in 2025,
while Uttar Pradesh slipped from 2nd to 3rd.
Record-Breaking Performances
A total of 18 national records were shattered across various sports, marking a milestone in India’s para-
sports landscape.
Star Para Powerlifters (Gold Medalists)
● Jaspreet Kaur (Punjab)
● Manish Kumar (Haryana)
● Seema Rani (Punjab)
● Jhandu Kumar (Bihar)
Final Medal Tally – Khelo India Para Games 2025
Rank State Gold Silver Bronze Total

1 Haryana 34 39 31 104

2 Tamil Nadu 28 19 27 74

3 Uttar Pradesh 23 21 20 64

4 Rajasthan 22 18 24 64

5 Maharashtra 18 13 12 43

6 Gujarat 12 24 23 59

7 Karnataka 10 5 7 22

8 Delhi 8 11 20 39

9 Punjab 8 2 5 15

10 Andhra Pradesh 4 8 3 15

India’s doubles badminton specialist B Sumeeth Reddy Announces Retirement, Shifts Focus to
Coaching
● India’s doubles badminton specialist B Sumeeth Reddy has announced his retirement from
professional badminton to fully dedicate himself to coaching.
● A key figure in Indian badminton, he was part of the 2022 Commonwealth Games silver
medal-winning squad and had a successful career spanning over a decade.

India Shines at Special Olympics World Winter Games with 33 Medals

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● India concluded its campaign at the Special Olympics World Winter Games in Turin, Italy, with
an impressive 33-medal haul, including 8 gold, 18 silver, and 7 bronze medals.
Final Day Medal Achievements (12 Medals)
1. Snowshoeing:
o Medal tally: 10 (4 on the final day)
o New medalists:
▪ Silver: Vasu Tiwari, Shalini Chauhan, and Tanya (25m Snowshoeing)
▪ Bronze: Jahangir (25m Snowshoeing)
2. Alpine Skiing:
o Medal tally: 10
o New medalists:
▪ Silver: Radha Devi (Intermediate Slalom F01)
▪ Silver: Nirmala Devi (Intermediate Slalom F04)
▪ Silver: Abhishek Kumar (Novice Slalom M02)
3. Cross Country Skiing:
o Medal tally: 2
o New medalist:
▪ Bronze: Akriti (100m Classical Technique F02)
4. Floorball (Women’s Traditional Team):
o Medal tally: 1
o New medal: Bronze
Overall Medal Tally by Sport
● Snowshoeing: 10 medals
● Alpine Skiing: 10 medals
● Snowboarding: 6 medals
● Short Track Speed Skating: 4 medals
● Cross Country Skiing: 2 medals
● Floorball: 1 medal

Asian Wrestling Championships 2025: Nitesh Wins Bronze in Greco-Roman 97kg

● Nitesh secured India’s second medal at the Asian Wrestling Championships 2025 in Amman,
Jordan, with a bronze in the Greco-Roman 97kg category.
● He defeated Kazakhstan’s Ilyas Guchigov 9-0 (VSU) in the opening match.

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● Lost in the semi-finals to Olympic champion Mohammad Hadi Saravi (Iran) 0-9.
● In the bronze medal match, he defeated Turkmenistan’s Amanberdi Agamammedov 9-0
(VSU).
● Sunil Kumar had earlier won bronze in the Greco-Roman 87kg category.

Asian Wrestling Championships 2025: Grappler Sunil Kumar opens India’s account with bronze
● Sunil Kumar secured India’s first medal at the 2025 Senior Asian Wrestling
Championship in Amman, Jordan, by winning bronze in the 87kg Greco-Roman category.
● He defeated China’s Jiaxin Huang 3-1 in the bronze medal match.
● Sunil began his campaign with a dominant 10-1 win over Tajikistan’s Sukhrob AbdulKhaev but
lost 3-1 to Iran’s Yasin Ali Yazdi in the semifinals.
● This marks his fifth senior medal at the Asian Wrestling Championships, having won silver
(2019), gold (2020), and bronze (2022, 2023).

Kerala Blasters FC appoints Spanish tactician David Catala as head coach

● David Català, a former Spanish footballer, has been appointed as Kerala Blasters FC’s head
coach until 2026.
● The Spanish tactician, known for his modern football approach and extensive European
experience, will assume his responsibilities immediately.
● Catala has managed E.K. Larnaca and Apollon Limassol in Cyprus, NK Istra 1961 in Croatia,
and CE Sabadell in Spain.

Chinese Grand Prix 2024: Oscar Piastri Wins as Ferrari Faces Disqualifications
● Oscar Piastri won the Chinese Grand Prix and his teammate Lando Norris finished second in
a dominant race for McLaren, while three drivers – including Lewis Hamilton – were later
disqualified.
● Winner: Oscar Piastri(McLaren) – Dominated from pole, securing his 3rd career F1 win.
● McLaren 1-2: Teammate Lando Norrisfinished 2nd, despite brake issues and pressure from
George Russell.
Championship Standings After 2 Races
1. Lando Norris(McLaren) – Leads by 8 pts over Verstappen.
2. Max Verstappen(Red Bull).
3. George Russell(Mercedes).

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4. Oscar Piastri(McLaren) – Now 10 pts behind Norris.

Olympic legend from Zimbabwe, Kirsty Coventry Becomes First Female and African International
Olympic Committee President
● Kirsty Coventry, an Olympic legend from Zimbabwe, has made history by becoming the first
female and first African president of the International Olympic Committee (IOC) in its 130-year
history.
● From Olympic Champion to IOC Leader
● Olympic Achievements: 7 Olympic medals in swimming.
● Gold Medals: 200m backstroke (2004 Athens, 2008 Beijing).
● IOC Involvement: Joined the Athletes’ Commission (2012), advocating for sports development
and athlete rights.

Japan Becomes First Team to Qualify for 2026 FIFA World Cup After Hosts
● Japan secured a spot in the 2026 FIFA World Cup, becoming the first team to qualify after
host nations (United States, Canada, and Mexico).
● Match Result: Defeated Bahrain 2-0 at Saitama Stadium on March 20, 2025.
● Goal Scorers:
o Daichi Kamada (Second Half)
o Takefusa Kubo (Second Half)
● Eighth Consecutive World Cup Appearance: Japan continues its streak of playing in every
World Cup since 1998.
Indian Long-Distance Runner Archana Jadhav Banned for Doping
● Indian long-distance runner Archana Jadhav has been handed a four-year ban by World
Athletics’ Athletes Integrity Unit (AIU) after testing positive for the banned
substance Oxandrolone.
● The suspension, effective January 7, 2025, comes after Jadhav failed to contest the doping
charges despite multiple reminders.

Board of Control for Cricket in India Announces ₹58 Crore Cash Reward for Team India After ICC
Champions Trophy 2025 Victory

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 Important Monthly Current Affairs Capsule – March 2025

● The Board of Control for Cricket in India (BCCI) has announced a cash reward of ₹58
crore for Team India, recognizing their remarkable triumph in the ICC Champions Trophy
2025.
● The reward extends to players, coaching staff, support personnel, and the Men’s Selection
Committee.

OBITUARY
Boris Spassky, Chess Champion Who Lost ‘Match of the Century,’ Dies at 88
● Boris Spassky, the tenth World Chess Champion, has passed away at the age of 88.
● Born in 1937 in Leningrad (now St. Petersburg, Russia), Spassky was recognized as a chess
prodigy from an early age.
● His exceptional talent was evident when he earned the Grandmaster title at 18 and made his
Candidates Tournament debut in 1956 (Amsterdam) at the age of 19.

Oldest Test Cricketer Ron Draper Passed Away at 98

● Ron Draper, a top-order batsman and occasional wicketkeeper, played two Test matches for
South Africa against Australia in 1950.
● Born on December 24, 1926, he made a century on his first-class debut for Eastern Province
against Orange Free State on his 19th birthday.
● Draper played first-class cricket until 1959/60, finishing with a batting average of 41.64.
Veteran Sculptor And Painter Himmat Shah passed away
● Renowned artist Himmat Shah died at Jaipur's Shalby Hospital after suffering a heart attack on
March 2nd, 2025.
● Born into a Jain mercantile family in Lothal, Gujarat, an Indus Valley Civilization port town.
● Inspired by archaeologists, historians, theatre troupes, and potters.
● Ran away from home as a pre-teen, traveled to Junagadh and Ahmedabad.
● Studied at CN Kalaniketan, Ahmedabad, under Rasiklal Parikh.

Mumbai cricket great Padmakar Shivalkar passed away aged 84

● Padmakar Shivalkar, the legendary left-arm spinner, passed away in Mumbai at the age of 84.
● Shivalkar picked up 589 wickets in First-Class cricket across 124 games, with an impressive
average of 19.74.

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 Important Monthly Current Affairs Capsule – March 2025

● He played a key role in Mumbai’s 15-season Ranji Trophy title streak and was regarded as one
of the finest spinners in domestic cricket.
● In 2017, he received the Col. C.K. Nayudu Lifetime Achievement Award from the Board of
Control for Cricket in India (BCCI), alongside fellow spinner Rajinder Goel.

Ron Draper, oldest Test cricketer, passed away in South Africa aged 98
● Ron Draper, the oldest living Test cricketer, has passed away in Gqeberha at the age of 98
years.
● Draper, a top-order batsman and occasional wicketkeeper, played two Test matches for South
Africa against Australia in 1950.
● With his passing, Neil Harvey, aged 96, now becomes the oldest living Test player.
● The previous oldest Test cricketers were also South Africans—Norman Gordon, who died at 103
in 2016, and John Watkins, who passed away at 98 in 2021.

Roy Ayers, Everybody Loves the Sunshine musician, died at 84

● Influential jazz, soul, and funk producer and composer Roy Ayers has passed away at the age of
84.
● Known as a pioneer of nu-soul and jazz funk, Ayers played a key role in shaping the 90s acid
jazz movement.
● He is best remembered for his classic "Everybody Loves the Sunshine", which was covered and
sampled by D’Angelo, Mary J. Blige, and Tyler, the Creator.
● Ayers’ music heavily influenced RnB and hip-hop artists, including A Tribe Called Quest ("Bonita
Applebaum"), Mary J. Blige ("My Life"), and Jill Scott ("Watching Me").

Veteran Biju Janata Dal (BJD) leader and former Minister Ananta Das passed away
● Veteran Biju Janata Dal (BJD) leader and former Minister Ananta Das passed away in
Bhubaneswar at the age of 85.
● Represented Bhograi constituency in Balasore district for four consecutive terms (2004-2019) as
a BJD MLA.
● Held ministerial portfolios for Higher Education and Industries (2017-2019).
● Served as Chief Whip in the Odisha Assembly (2014-2017).
● Former Orissa Administrative Service (OAS) officer, held key positions including:

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 Important Monthly Current Affairs Capsule – March 2025

Legendary Tirumala Tirupati Devasthanams (TTD), Singer Garimella Balakrishna Prasad Passed Away
● Renowned music composer, classical singer, and Tirumala Tirupati Devasthanams (TTD), court
scholar Garimella Balakrishna Prasad passed away at 76 at his home in Tirupati.
● He was a stalwart in devotional and classical music, particularly known for his popularization of
Annamacharya kirtans.
● Joined the TTD Annamayya project as a singer in 1976, dedicating his life to composing,
recording, and publishing Annamacharya’s kirtans until 2006.
● Recipient of the prestigious Central Sangeet Natak Academy Award for his contributions to
Indian classical music

Former Union Minister Debendra Pradhan died at 84

● Former Union minister Debendra Pradhan, father of Union education minister Dharmendra
Pradhan, passed away in New Delhi on Monday at the age of 84.
● Born on July 16, 1941, in Nalam, Dhenkanal district, Odisha, Pradhan completed his MBBS from
SCB Medical College, Cuttack, in 1966.
● He began his career as an Assistant Medical Officer in Talcher in 1967 but took voluntary
retirement in 1973 to start private practice.
● He entered politics by joining the BJP in 1980 and later became the party president for the
undivided Dhenkanal district in
● He served as Odisha BJP president in 1988, 1990, and again from 1995 to 1997, during which
time Odisha witnessed the entry of Naveen Patnaik into state politics.
● Pradhan was elected to the Lok Sabha from Deogarh in 1998 and was appointed Minister of
State for Surface Transport in the Vajpayee government.

Renowned Odia poet Ramakanta Rath died at 90

● Renowned Odia poet and Padma Bhushan awardee, Ramakanta Rath, passed away at his
residence in Bhubaneswar at the age of 91, marking the end of an era in Odia literature.
● Born on December 13, 1934, in Cuttack, Rath pursued a master’s degree in English
from Ravenshaw University before joining the Indian Administrative Service in
● His acclaimed works include “Kete Dinara,” “Sandigdha Mrugaya,” “Saptama Rutu,” “Sachitra
Andhara,” and “Sri Radha,” which won him the prestigious Saraswati Samman in 1992 and
remains one of the most celebrated works in Odia literature.

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 Important Monthly Current Affairs Capsule – March 2025

● Over the years, Rath received numerous accolades, including the Sahitya Akademi Award
in 1977, Sarala Award in 1984, Bishuva Samman in 1990, and the Sahitya Akademi Fellowship
in 2009.
● He served as the vice-president of the Sahitya Akademi from 1993 to 1998 and later as president
from 1998 to 2003, promoting Indian literature on national and global stages.

Former India all-rounder Syed Abid Ali died at 83

● Former India all-rounder Syed Abid Ali passed away on 12 March 2025 at the age of 83 in Tracy,
California.
● He represented India in 29 Test matches (1967-1974) and 5 ODIs.
● Known for his all-round abilities, including batting, bowling, and exceptional fielding.
● He played a pivotal role in India’s historic Test series wins in England and the West Indies in
1971.

American Boxing legend George Foreman passed away at 76

● Boxing legend George Foreman, one of the sport’s most iconic and influential figures, passed
away at the age of 76.
● Foreman, a two-time heavyweight champion, first rose to prominence by winning a gold medal
at the 1968 Olympics before going on to become a Hall of Fame inductee.
● One of his most memorable moments came in 1974 when he faced Muhammad Ali in the
legendary Rumble in the Jungle in Zaire.

Man behind Prime Minister Modi’s Project Cheetah, Vincent Van Der Merwe, found dead
● World-renowned conservationist Vincent van der Merwe, a key figure in Prime Minister
Narendra Modi’s Project Cheetah, was found dead in Riyadh, Saudi Arabia.
● The 42-year-old was found in the hallway of his apartment with a head injury.
● He was in Riyadh working with the Saudi Arabian government on a plan to reintroduce
cheetahs
About Project Cheetah:
● Project Cheetah, India’s ambitious attempt to introduce African cheetahs in the wild in the
country, has been completed 2 years after its launch in September 2022.
● The project involves the translocation of cheetahs from South Africa and Namibia to Kuno
National Park in Madhya Pradesh.

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● The project is implemented by the National Tiger Conservation Authority (NTCA) in

collaboration with the Madhya Pradesh Forest Department, Wildlife Institute of India (WII), and
cheetah experts from Namibia and South Africa.

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