01st-03rd March 2025

1. Senior Advocate Manan Kumar Mishra Re-Elected as Chairman of Bar Council of India
2. World Wildlife Day 2025
3. Bank of Baroda Achieves ISO 22301:2019 Certification for Business Continuity Management
4. Paytm Partners With Startup Perplexity To Integrate AI-powered Search
5. YES BANK Hosts Export Conclave 2025 in Collaboration with WTC Mumbai
6. Oscars Awards 2025: Full List of the 97th Academy Awards Winners
7. EPFO Retains 8.25% Interest Rate on Provident Fund Deposits for 2024-25
8. Kailash Satyarthi’s Autobiography ‘Diyaslai’ – A Literary Exploration at IGNCA
9. Russian Chess Grandmaster Boris Spassky Passes Away at 88
10. World Seagrass Day 2025
11. NASA’s New Telescope to Unveil the Most Colorful Cosmic Map
12. World Civil Defence Day, Date, Significance, Theme
13. Zero Discrimination Day 2025, Date, Theme, Significance
14. Hollywood Legend Gene Hackman Passes Away at 95
15. AISEF Organised International Spice Conference 2025 in Bengaluru, Karnataka
16. India Extends USD 1 Million for Food Fortification Project in Lao PDR
17. RBI Imposed Monetary Penalty on Bombay Mercantile Co-operative Bank Limited and Two Others
18. BoB Launches Merchant Loyalty/Cashback Programme to Boost CBDC
19. Japan and India Renewed Bilateral Swap Arrangement of USD 75 Billion
20. Rare Disease Day 2025 – February 28
21. Rajasthan Launched SSBY, providing Rs 1.3 lakh accident insurance cover to School Students
22. Overview of EC President Ursula von der Leyen’s visit to India from 27-28 February 2025
23. IAF Conducted Exercise ‘Desert Hunt 2025’ in Rajasthan
24. Federal Bank Launched ‘Annuity Deposit’ for Resident Customers
25. India and Thailand Sign Three MoUs to Enhance Gem & Jewellery Exports
26. GRSE signed MoU with Indian Army for Modular Steel Bridge in Arunachal Pradesh
27. PB Fintech Limited Appoints Santosh Agarwal as CEO of Paisabazaar
28. Indian-origin Tushar Mehta joins Blue Origin crew on 10th space tourism mission
29. Aleksandra Goryachkina Wins Monaco GP 2025: Tops FIDE Women’s Grand Prix Standings
30. IOC Grants Provisional Recognition to World Boxing
31. World Civil Defence Day 2025 – March 1
32. World Seagrass Day 2025 – March 1
33. Civil Accounts Day 2025 – March 1
34. Mizoram CM Lalduhoma Launches Mizoram Chapter of WEP for Women’s Empowerment

National News

1. International Spice Conference 2025 in Bengaluru

• What:
  • The International Spice Conference (ISC) 2025 will be held in Bengaluru from February 24 to 27, organized by the All-India Spices Exporters’ Forum (AISEF).
• Why:
  • The conference aims to address challenges in the global spice industry, such as food safety and misinformation, by promoting transparency, sustainability, and trust across the supply chain.
• Tell me more:
  • The conference is themed “Building Trust Beyond Borders: Transparency, Sustainability, Confidence.”
  • It will be inaugurated by Krishna M. Ella, Executive Chairman of Bharat Biotech International Ltd., with Abhinav Bindra as the Guest of Honour.
  • The event will provide insights and tools to stakeholders to adapt to changing consumer expectations.
  • The conference will take place at The Leela Bhartiya City in Bengaluru. AISEF is the organizer, and Emmanuel Nambusseril is its chairman.

Source: TH

2. India and Japan Renew $75 Billion Currency Swap

• What:
  • India and Japan have renewed their bilateral currency swap agreement worth $75 billion, aiming to enhance financial cooperation and stability between the two nations.
• Why:
  • The agreement seeks to strengthen financial safety nets, deepen bilateral financial cooperation, and contribute to regional and global financial stability.
• Tell me more:
  • The Bilateral Swap Arrangement (BSA) allows both countries to swap their local currencies for the US dollar. The renewed agreement is effective as of February 28, 2025, with the size remaining unchanged at up to $75 billion.

Source: BS

3. India and EU Strengthen Strategic Partnership

• What:
  • Prime Minister Narendra Modi and European Commission President Ursula von der Leyen reaffirmed the India-EU Strategic Partnership, pledging to elevate cooperation in areas like trade, technology, and climate change.
• Why:
  • The partnership aims to strengthen bilateral ties, promote economic growth, and address global challenges, leveraging shared values of democracy and rule of law.
• Tell me more:
  • The visit marked the first official visit of the EU College of Commissioners outside Europe, highlighting deepening ties.
  • Both sides committed to accelerating negotiations for trade agreements and enhancing cooperation in areas like semiconductors, AI, and clean energy.
  • They also agreed to advance the India-Middle East-Europe Economic Corridor and strengthen defence and security cooperation.

Source: EU

State News

1. Rajasthan Launches Shiksha Sanjeevani Bima Yojana

• What:
  • Rajasthan’s Education Minister Madan Dilawar launched the Shiksha Sanjeevani Bima Yojana, providing personal accident insurance coverage of Rs one lakh to 1.3 lakh students in Udaipur division.
• Why:
  • The scheme aims to ensure continuity in children’s education, prevent child labour, promote financial inclusion, and provide financial security in case of accidents.
• Tell me more:
  • The insurance also covers accidental death of a student’s parent and includes benefits like scholarships with interest until the child turns 18. The scheme is set to expand and benefit one crore school children across Rajasthan.

Source: ET

2. NITI Aayog Launches WEP Chapter in Mizoram

• What:
  • NITI Aayog has established the Women Entrepreneurship Platform (WEP) chapter in Mizoram, the first in the northeastern region, to boost women’s entrepreneurship.
• Why:
  • The initiative aims to empower women economically, leveraging their entrepreneurial spirit and contributing to India’s overall development, aligning with Prime Minister Narendra Modi’s priorities.
• Tell me more:
  • The WEP chapter was launched by Mizoram’s Chief Minister Lalduhoma, with NITI Aayog member V.K. Paul in attendance.
  • The state government has also launched the ‘Bana Kaih’ scheme, offering collateral-free and interest-free loans to support young entrepreneurs, with a focus on women’s participation.

Source: ET

International News

1. NASA Launches SPHEREx Telescope

• What:
  • NASA is launching the SPHEREx telescope to create the most precise and colorful map of the universe, capturing spectroscopic images of celestial objects over a two-year mission.
• Why:
  • The SPHEREx mission aims to provide vital information on the universe’s history, galaxy formation, and the existence of life-supporting molecules in the Milky Way.
• Tell me more:
  • SPHEREx will split the universe’s light into 96 separate bands, offering an unparalleled view of cosmic physics and chemistry.
  • It will collaborate with other telescopes like the James Webb Space Telescope and cover the entire sky in months, observing billions of galaxies, stars, and asteroids.
  • The mission also seeks to understand cosmic inflation and identify life-bearing molecules in the Milky Way.
  • SPHEREx complements high-resolution telescopes by covering a vast portion of the sky that others cannot.

Source: TOI

2. India Extends Grant to Lao PDR for Food Fortification

• What:
  • The Indian government has extended a grant of approximately USD 1 million to the Lao People’s Democratic Republic (Lao PDR) to support a rice fortification project under the India-UN Development Partnership Fund.
• Why:
  • The grant aims to promote food fortification, address nutrition deficiencies, and strengthen food systems in Lao PDR, reflecting India’s commitment to South-South cooperation and sustainable development.
• Tell me more:
  • The project, implemented by the World Food Programme, seeks to enhance nutritional diversity and overcome micro-nutrient deficiencies in Lao PDR.
  • It aligns with India’s broader efforts to support developing countries achieve Sustainable Development Goals.

Source: ANI

3. Tushar Mehta Joins Blue Origin’s Space Mission

• What:
  • Tushar Mehta, an Indian-origin individual, was part of Blue Origin’s 10th space tourism mission, which launched from West Texas on February 25.
• Why:
  • The mission aimed to provide space tourists with a unique experience of weightlessness and viewing Earth from space, as part of Blue Origin’s space tourism program.
• Tell me more:
  • The mission, titled NS-30, included five other crew members: Lane Bess, Jesús Calleja, Elaine Chia Hyde, Richard Scott, and an undisclosed passenger.
  • The flight lasted about 10-12 minutes, offering a brief experience of space travel.

Source: WION

Banking and Economy

1. Bank of Baroda Receives ISO 22301:2019 Certification

• What:
  • Bank of Baroda has been awarded the ISO 22301:2019 Business Continuity Management System (BCMS) certification by the British Standards Institution (BSI), recognizing its robust business continuity practices and risk management capabilities.
• Why:
  • The certification enhances Bank of Baroda’s reputation as a resilient organization, ensuring customer trust and confidence by maintaining uninterrupted services during disruptions.
• Tell me more:
  • The ISO 22301:2019 certification is an international benchmark for business continuity management, focusing on minimizing operational disruptions and ensuring swift recovery in crises.
  • This accreditation highlights Bank of Baroda’s ability to effectively manage risk and maintain business continuity.

Source: bob

2. Paytm Partners with Perplexity for AI Integration

• What:
  • Paytm has partnered with AI startup Perplexity to integrate AI-powered search into its app, aiming to enhance financial literacy and accessibility for users.
• Why:
  • The partnership seeks to leverage AI to provide users with insights, enabling them to make informed financial decisions and access information seamlessly.
• Tell me more:
  • With Perplexity’s AI capabilities, Paytm users can ask everyday questions, explore topics in their local language, and make informed financial decisions.

Source: ET

3. WTC Mumbai Hosts Export Conclave for MSMEs

• What:
  • World Trade Center Mumbai, in association with YES Bank, organized an Export Conclave to facilitate interactions between MSMEs, government departments, and financial institutions, highlighting MSMEs’ significant contribution to India’s exports.
• Why:
  • The event aimed to address challenges faced by MSME exporters, such as access to affordable credit and awareness of government schemes, to enhance their export capabilities.
• Tell me more:
  • The conclave discussed trends in MSME banking and the need for banks to support the textile sector, which supports 5.4 crore jobs and aims to grow its market size to USD 350 billion by 2030.
  • It also emphasized the importance of digitization and risk management for exporters.
  • A key highlight was the signing of an MoU between WTC Mumbai and YES Bank to support MSMEs with credit and trade facilitation services.

Source: WTCA

4. EPFO Keeps Interest Rate Unchanged at 8.25% for 2024-25

• What:
  • The Central Board of Trustees of the Employees’ Provident Fund Organisation (EPFO) has decided to maintain the interest rate for the financial year 2024-25 at 8.25%, despite economic rate cuts.
• Why:
  • The decision was made to avoid potential volatility in financial markets and ensure a surplus, despite initial proposals to reduce the rate.
• Tell me more:
  • The EPFO’s investment returns are linked to government securities and equity returns. Keeping the rate at 8.25% is expected to result in a surplus of Rs 5,300 crore.
  • Additionally, the EPFO has enhanced insurance benefits under the Employees’ Deposit Linked Insurance (EDLI) scheme, providing a minimum life insurance benefit of Rs 50,000 in certain cases.

Source: IE

5. RBI Imposes Penalty on Bombay Mercantile Bank

• What:
  • The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 33.30 lakh on Bombay Mercantile Co-operative Bank Ltd. for violating provisions of the Banking Regulation Act by engaging in unauthorized business activities.
• Why:
  • The penalty was imposed due to the bank’s failure to comply with statutory provisions, specifically earning income from business not permitted under the Banking Regulation Act.
• Tell me more:
  • The RBI conducted a statutory inspection based on the bank’s financial position as of March 31, 2023, and found evidence of contravention.
  • Additionally, the RBI fined two other small banks, The Business Co-operative Bank Ltd. and The Lasalgaon Merchants Co-operative Bank Ltd., each Rs one lakh for non-compliance with RBI directions.

Source: UNI

6. Bank of Baroda Launches CBDC Loyalty Program

• What:
  • Bank of Baroda has launched a pilot ‘Loyalty/Cashback Programme’ for merchants using the programmability feature of Central Bank Digital Currency (CBDC), allowing them to design and launch loyalty programs independently.
• Why:
  • The initiative aims to empower small and medium merchants to create tailored cashback offers, enhancing customer engagement and retention without requiring additional infrastructure investments.
• Tell me more:
  • Merchants can configure their own cashback or loyalty programs through the “bob Merchant App,” specifying details like campaign period and cashback percentage. \
  • Customers receive cashback in the form of Programmable CBDC, which can be used at specific merchant outlets until expiry.

Source: HBL

7. Federal Bank Launches Annuity Deposits Product

• What:
  • Federal Bank has introduced a new term deposit product called Annuity Deposits, designed to provide customers with a stable income over a tenure of 5 to 20 years.
• Why:
  • The product aims to offer customers a guaranteed, pension-like income for longer periods, making it suitable for those seeking stable financial returns.
• Tell me more:
  • Customers can choose their payout frequency as monthly, quarterly, half-yearly, or yearly, with each payout including a portion of the principal and interest earned.
  • The minimum investment is Rs 15 lakh, with a maximum limit of Rs 2 crore, and customers can prematurely close their accounts if needed.

Source: UNI

Defence News

1. India Conducts Tri-Service Exercise Desert Hunt 2025

• What:
  • The Indian Air Force conducted a tri-service Special Forces exercise, “Exercise Desert Hunt 2025,” at Air Force Station Jodhpur from February 24 to 28, involving elite units from the Army, Navy, and Air Force.
• Why:
  • The exercise aimed to enhance interoperability, coordination, and synergy among the special forces units to ensure a swift and effective response to emerging security challenges.
• Tell me more:
  • The exercise included high-intensity drills such as airborne insertion, precision strikes, hostage rescue, counter-terrorism operations, and urban warfare scenarios.
  • It was supervised by senior military officials to validate joint doctrines and foster inter-service cooperation.

Source: TW

Awards

1. 97th Academy Awards Held at Dolby Theatre

• What:
  • The 97th Academy Awards took place at the Dolby Theatre in Los Angeles, with “Anora” emerging as the biggest winner, securing five Oscars, including Best Picture.
• Why:
  • The event celebrated excellence in filmmaking, recognizing outstanding performances and contributions to the industry.
• Tell me more:
  • Mikey Madison won Best Actress for her role in “Anora,” becoming one of the youngest winners in Oscar history. Sean Baker won multiple awards for “Anora,” while Adrien Brody won Best Actor for “The Brutalist.” Zoe Saldana made history as the first American of Dominican origin to win a Best Supporting Actress Oscar.

Source: TOI

Important Dates

1. World Wildlife Day – March 3

• Theme – Wildlife Conservation Finance: Investing in People and Planet

Source: UN

2. World Seagrass Day – March 1

Source: UN

3. World Civil Defence Day – March 1

Source: N18

4. Zero Discrimination Day – March 1

• Theme: “We Stand Together”

Source: N18

5. Rare Disease Day – February 28

Source: RDD

6. 49th Civil Accounts Day 2025 – March 1

Source: PIB

Sports

1. Aleksandra Goryachkina Leads FIDE Women’s Grand Prix

• What:
  • Aleksandra Goryachkina secured first place in the Monaco leg of the 2024-2025 FIDE Women’s Grand Prix, earning 106.67 points and leading the series.
• Why:
  • The tournament is part of a series where the top two players will qualify for the 2026 FIDE Women’s Candidates Tournament, determining the challenger for the Women’s World Championship.
• Tell me more:
  • Goryachkina now leads the Grand Prix standings with 236.67 points, followed by Assaubayeva and Tan Zhongyi.
  • The Monaco event featured a 10-player round-robin format with a top prize of €18,000.

Source: CC

2. World Boxing Nears IOC Provisional Recognition

• What:
  • World Boxing has made significant progress in meeting criteria for recognition by the International Olympic Committee (IOC), including governance and sports integrity standards.
• Why:
  • The recognition aims to establish World Boxing as the governing body for boxing within the Olympic Movement, ensuring compliance with international standards for governance and sports integrity.
• Tell me more:
  • World Boxing comprises 78 National Federations and four continental confederations. It has implemented sports integrity processes and obtained AIMS membership.
  • Additionally, it has established good governance structures, recognized CAS jurisdiction, and achieved World Anti-Doping Code Signatory Status.

Source: OC

Memorandum of Understanding

1. India and Thailand Sign MoUs for Gem and Jewellery Trade

• What:
  • India’s gem and jewellery industry has signed multiple MoUs with Thailand’s jewellery trade to strengthen trade ties and boost exports between the two countries.
• Why:
  • The agreements aim to enhance trust, transparency, and excellence in the global gem and jewellery industry by harmonizing gemstone standardization, fostering joint research, and promoting knowledge exchange.
• Tell me more:
  • The MoUs involve collaborations between the Gems and Jewellery Research and Laboratories Centre (IIGJ-RLC) with the Gem & Jewelry Institute of Thailand (GIT), Jewellers Association Jaipur with Chanthaburi Gem and Jewellery Traders Association, and Sitapura Gems and Jewellery Industry Association with Thai Silver Exporters Association.
  • These partnerships will focus on areas like coloured gemstone trade and silver jewellery innovation.

Source: ET

2. GRSE Signs MoU with Indian Army for Modular Bridge

• What:
  • Garden Reach Shipbuilders and Engineers (GRSE) Limited has signed an MoU with the Indian Army to construct a 130-feet long Single Lane Modular Steel Bridge in Arunachal Pradesh.
• Why:
  • The agreement aims to support infrastructure development in strategic locations, aligning with India’s Make in India and Atmanirbhar Bharat policies.
• Tell me more:
  • GRSE has a history of delivering modular bridges to various organizations, including the Border Roads Organisation and state governments.
  • In 2022, GRSE received the Green Channel Certification for Portable Steel Bridges from the Indian Army.

Source: PSU

Appointments

1. Manan Kumar Mishra Re-elected as BCI Chairman

• Manan Kumar Mishra has been re-elected as the chairman of the Bar Council of India for his seventh consecutive term. He is also a BJP member of parliament in the Rajya Sabha from Bihar.

Source: LL

1. Santosh Agarwal Takes Over as Paisabazaar CEO

• Santosh Agarwal has been appointed as the new CEO of Paisabazaar, effective March 1, 2025, marking a significant leadership transition at the company.
• Vivek Audichya appointed as CFO of Policybazaar.

Source: ET

Miscellaneous

1. Kailash Satyarthi’s Autobiography “Diyaslai”

• What:
  • The Indira Gandhi National Centre for the Arts (IGNCA), in collaboration with the Satyarthi Movement for Global Compassion, held a discussion on Kailash Satyarthi’s autobiography “Diyaslai,” attended by former President Ram Nath Kovind.
• Why:
  • The event aimed to reflect on Kailash Satyarthi’s lifelong commitment to social justice, child rights, and global compassion, offering insights into his extraordinary journey.
• Tell me more:
  • The discussion highlighted Satyarthi’s relentless struggle for child rights globally and his autobiography as a testament to his inspiring journey. Former President Kovind noted that the book is not just a personal narrative but a movement for children’s rights.

Source: PIB

2. Boris Spassky, Chess Legend, Passes Away

• What:
  • Boris Spassky, the renowned Soviet chess grandmaster, has died at the age of 88 in Moscow, leaving behind a legacy as a Cold War icon and a world chess champion.
• Tell me more:
  • Spassky became a grandmaster at 18 and won the World Chess Championship in 1969. He is best known for his 1972 match against Bobby Fischer, which was a significant Cold War event. Despite losing, Spassky’s adaptability and style of play were widely admired.

Source: ET

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