04th April 2025

1. MNRE Achieves 25 GW Renewable Energy Capacity Addition in FY25
2. Paradip Port Retained No.1 Spot in Cargo Handling Among Major Ports in FY25
3. MoEFCC Report: Over 13,056 sq km of Forest Area Encroached in India; MP Leads
4. MoR: India Produced 1,681 Locomotives in FY25, Surpasses the USA and Europe
5. EPFO Introduced Two Key Reforms to Simplify its Claim Settlement Process
6. IN Signs Rs 270 Crore Deal with Kirloskar for Indigenous Marine Diesel Engine
7. SBI & Citi Announce USD 295 Million Social Loan to Support Farmers in India
8. BOM Partners with Customer Capital to Introduce ‘Triptascc’ Travel Platform
9. IDFC FIRST Bank Authorized by CPAO for Pension Disbursement
10. Axis Bank Becomes First Indian Bank to Launch B2B Collections Solution
11. Debmalya Sen Appointed as President of IESA
12. CCI Chairperson Ravneet Kaur Gets Additional Charge as NFRA Chairperson for 3 Months
13. Sanjeev Chopra’s book “The Great Conciliator: Lal Bahadur Shastri and the Transformation of India” Released
14. Raising Day of the Army Medical Corps 2025 – April 3
15. Russia Launches Nuclear Submarine Armed With ‘Unstoppable’ Zircon Hypersonic Missile
16. Veteran Actor Manoj Kumar Passes Away at 87
17. Trump slaps additional 27% tariffs on Indian imports, 75% of goods to be impacted
18. PM Modi arrives in Thailand to attend BIMSTEC summit
19. SBI withdraws special FD scheme Amrit Kalash

National News

1. India Achieves Historic Milestone in Renewable Energy Sector

• What:
  • India added 25 GW of renewable energy capacity in FY25, a 35% increase compared to FY24, with solar power leading the growth by increasing capacity from 15 GW to 21 GW.
• Why:
  • The milestone reflects India’s commitment to clean energy transition and self-reliance.
• Tell me more:
  • India surpassed 100 GW of installed solar capacity this year.
  • Solar module manufacturing capacity doubled from 38 GW to 74 GW, and PV cell manufacturing tripled from 9 GW to 25 GW.
  • The first ingot-wafer manufacturing facility (2 GW) began production in FY25.
  • Investments worth ₹41,000 crore under the PLI Scheme for High-Efficiency Solar PV Modules created 11,650 jobs.
  • PM Surya Ghar Muft Bijli Yojana benefited over 11.01 lakh households, disbursing ₹5,437.20 crore to 6.98 lakh beneficiaries for rooftop solar adoption.
  • Incentives of ₹2,220 crore were awarded for electrolyser manufacturing (1,500 MW per annum), and ₹2,239 crore allocated for Green Hydrogen production (4,50,000 TPA).
  • Seven pilot projects under the National Green Hydrogen Mission received ₹454 crore for steel sector decarbonization; five transport sector projects received ₹208 crore for hydrogen vehicles and refueling stations.
  • PM-KUSUM Scheme installed/solarized over 10 lakh pumps, with financial expenditure increasing by 268% to ₹2,680 crore.
  • IREDA recorded a 27% increase in loan sanctions (₹47,453 crore) and a 20% rise in loan disbursements (₹30,168 crore).

Source: PIB

2. India Becomes Global Leader in Locomotive Production

• What:
  • India produced 1,681 locomotives in FY25, marking a 19% increase compared to FY24 and surpassing production in regions like the US, Europe, South America, Africa, and Australia.
• Why:
  • The achievement highlights India’s growing dominance in the global railway sector and the success of the ‘Make in India’ initiative.
• Tell me more:
  • Between 2004–2014, India produced 4,695 locomotives with an annual average of 470.
  • From 2014–2024, production surged to 9,168 locomotives with an annual average of 917.
  • In FY25, Madhepura and Marhowrah units produced 100 locomotives each, Banaras Locomotive Works produced 477, Patiala Locomotive Works contributed 304, and Chittaranjan Locomotive Works supplied 700.
  • Most locomotives produced were for freight trains.

Source: ET

State News

1. Paradip Port Retains Top Spot in Cargo Handling

• What:
  • Paradip Port retained its No. 1 position in cargo handling among Indian Major Ports for the second consecutive year by handling 150.41 MMT of cargo in FY25.
• Why:
  • The achievement reflects the port’s operational excellence and commitment to driving economic growth despite market challenges.
• Tell me more:
  • Paradip Port joined the exclusive 150 MMT Club with a cargo throughput of 150.41 MMT in FY25.
  • The port achieved its highest-ever rail traffic, handling 22,818 rakes, with rail-borne traffic reaching 81.01 MMT, a YoY growth of 3.21%.
  • Terminal operators Kalinga International Coal Terminal Pvt. Ltd. and Paradip East Quay Cargo Terminal Pvt. Ltd. recorded YoY growths of 15.18% and 12.53%, respectively.
  • The Western Dock Project (25 MMTPA capacity) is progressing and is expected to complete its first phase by 2026.
  • Plans for a Green Hydrogen and Ammonia Export Terminal are underway to promote sustainable operations.

Source: PIB

International News

1. 6th BIMSTEC Summit in Bangkok

• What:
  • Prime Minister Narendra Modi arrived in Bangkok to attend the 6th BIMSTEC Summit and strengthen ties with Thailand and Sri Lanka.
• Why:
  • The visit aims to boost India’s cooperation with BIMSTEC countries and enhance bilateral relations with Thailand and Sri Lanka.
• Tell me more:
  • The 6th BIMSTEC Summit, themed “BIMSTEC – Prosperous, Resilient and Open,” is the first physical meeting of BIMSTEC leaders since 2018.
  • PM Modi is scheduled to meet Thai PM Paetongtarn Shinawatra and King Maha Vajiralongkorn to discuss bilateral relations.
  • Members of the Indian diaspora in Thailand welcomed PM Modi with chants of ‘Vande Mataram’ and ‘Jai Hind.’
  • The last BIMSTEC Summit was held virtually in Colombo, Sri Lanka, in March 2022.

Source: ET

Banking and Economy

1. EPFO Simplifies Online Withdrawal Process for Members

• What:
  • The Employees’ Provident Fund Organisation (EPFO) removed the requirement for uploading a cancelled cheque and employer verification for bank accounts in online withdrawal claims.
• Why:
  • The changes aim to fast-track claim settlements and reduce grievances related to claim rejections.
• Tell me more:
  • Members can now change linked bank accounts by entering new account details and authenticating through Aadhaar-based OTP.
  • The changes eliminate delays caused by poor-quality document uploads, benefiting over 14.95 lakh members with pending employer approvals.
  • The pilot project launched on May 28, 2024, benefited 1.7 crore EPF members before being extended to all members.

Source: ET

2. Citi and SBI Announce $295 Million Social Loan for Farmers

• What:
  • Citi and State Bank of India (SBI) announced a $295 million social loan to support India’s small farmers.
• Why:
  • The loan aims to improve agricultural productivity and income generation for small and marginal farmers.
• Tell me more:
  • The loan will be provided by Citi’s Trade & Working Capital Solutions.
  • SBI will use the loan to finance its Kisan Credit Card portfolio, addressing credit needs in the agricultural sector.
  • The initiative focuses on financial inclusion for farmers with small landholdings.
  • SBI plans to leverage its extensive network to reach underserved farming communities.

Source: ET

3. Bank of Maharashtra Partners with Customer Capital for Travel Platform

• What:
  • Bank of Maharashtra partnered with Customer Capital to launch an exclusive travel platform and loyalty rewards for cardholders.
• Why:
  • The collaboration aims to enhance customer engagement and provide a seamless travel booking experience for cardholders.
• Tell me more:
  • The travel platform, named ‘Tripstacc,’ is a white-label solution allowing banks to customize customer experiences and gain insights into travel spending.
  • Cardholders can book hotels and tickets directly through the Bank of Maharashtra card website and app.
  • The loyalty market in India is projected to grow to $7.92 billion by 2028, showcasing significant potential for such initiatives.
  • The partnership leverages Customer Capital’s AI-powered technologies to create tailored commerce solutions for better customer engagement.

Source: BS

4. IDFC FIRST Bank Authorized to Disburse Central Government Pensions

• What:
  • IDFC FIRST Bank has been authorized by the Central Pension Accounting Office (CPAO) to disburse pensions to Central Government pensioners, including All India Service Officers, former MPs, retired judges, and other officials.
• Why:
  • The initiative aims to streamline pension disbursement and provide additional banking benefits for pensioners.
• Tell me more:
  • Pensioners can receive pensions directly in an IDFC FIRST Bank Savings Account, which can be jointly opened with their spouse for family pension continuity.
  • The Savings Account offers zero fees on 36 services, higher interest rates with monthly credits, and exclusive benefits for those above 60 years.
  • Benefits include ₹2 lakh cyber insurance, free MediBuddy health membership, free doorstep banking, priority branch service, and no penalty on premature FD withdrawals.
  • IDFC FIRST Bank has integrated with CPAO for seamless pension disbursement.

Source: BS

5. Axis Bank Launches B2B Collections Solution Using Bharat Connect

• What:
  • Axis Bank partnered with a Fortune 500 company to provide B2B collections using NBBL’s Bharat Connect platform.
• Why:
  • The initiative aims to streamline payment processes for wholesale distributors, stockists, and retailers across sectors like FMCG, Pharma, Automotives, and Healthcare.
• Tell me more:
  • Axis Bank is the first bank to implement this solution, leveraging its robust API stack.
  • Retailers can initiate invoice payments directly from the application integrated with multiple ordering systems.
  • The solution is agile, scalable, and customizable, developed with support from NBBL Bharat BillPay.
  • Bharat Connect expands into B2B invoice payment and financing to simplify large supply chain processes.

Source: TP

6. US Imposes 27% Tariff on Indian Imports

• What:
  • US President Donald Trump imposed a 27% tariff on Indian imports, the highest among major US trading partners except China.
• Why:
  • The move aims to address trade imbalances and push India to lower tariffs and non-tariff barriers on US goods.
• Tell me more:
  • India had reduced tariffs on 8,500 industrial goods and increased imports of American oil, LNG, and defense equipment.
  • Despite efforts, India’s average tariff rate remains 17%, higher than the US’s average of 3.3%.
  • Economists estimate India’s exports to the US could drop by $30–33 billion, impacting GDP by 0.8–0.9%.
  • Electronics ($14 billion) and gems & jewellery ($9 billion) exports are expected to be most affected, while pharmaceuticals and energy exports are exempt.
  • India and the US aim to boost bilateral trade from $127 billion in 2023 to $500 billion by 2030.

Source: ET

7. SBI Discontinues Amrit Kalash FD, Launches Amrit Vrishti FD

• What:
  • SBI discontinued the Amrit Kalash Fixed Deposit scheme from April 1, 2025, and introduced the Amrit Vrishti FD scheme offering higher interest rates.
• Why:
  • The changes aim to provide better returns and added benefits for senior and super senior citizens through new FD schemes.
• Tell me more:
  • Amrit Kalash FD offered 7.10% interest for regular investors and 7.60% for senior citizens on a 400-day deposit.
  • Amrit Vrishti FD, launched on July 15, 2024, offers 7.25% interest for regular investors, 7.75% for senior citizens, and 7.85% for super senior citizens on a 444-day deposit.
  • SBI also introduced the “SBI Patrons” scheme exclusively for super senior citizens with an additional premium of 10 basis points on all tenures.
  • The “SBI WeCare” scheme provides a special rate of 7.50% on FDs with tenures ranging from five to ten years for senior citizens.

Source: ET

Defence News

1. Indian Navy Inks Deal for Indigenous Marine Diesel Engine Development

• What:
  • The Indian Navy signed a project sanction order with Kirloskar Oil Engines Limited for the design and development of a 6MW Medium Speed Marine Diesel Engine under the Make-I category.
• Why:
  • The project aims to achieve self-reliance in marine engine development and reduce dependency on foreign Original Equipment Manufacturers (OEMs).
• Tell me more:
  • The prototype engine will have over 50% indigenous content and will be developed at a cost of ₹270 crore, with 70% funding from the Government of India.
  • The order includes designs for diesel engines ranging from 3MW to 10MW capacity.
  • These engines will be used for Main Propulsion and Power Generation on ships of the Indian Navy and Coast Guard.
  • Most higher-capacity diesel engines were previously imported, but this project will strengthen indigenous capabilities and save foreign exchange.

Source: ET

Important Days

1. Army Medical Corps Raising Day – April 3

• What:
  • Raksha Mantri Shri Rajnath Singh addressed the 261st Raising Day celebrations of the Army Medical Corps (AMC) at Army Hospital (Research & Referral), Delhi Cantt., on April 3, 2025.
• Tell me more:
  • Shri Rajnath Singh emphasized the importance of AI, simulator-based training, and dual-use technologies for defence and civilian sectors.
  • AMC collaborates with institutions like ICMR, IITs, AIIMS, and international medical organizations for research and development.
  • AMC has introduced Advanced Mobile Surgical Units, Rapid Response Medical Teams, Indigenous Trauma Management Systems, and AI-powered triage systems to improve combat medical readiness and emergency response.
  • INHS Asvini, Mumbai, received the Raksha Mantri Trophy for the best hospital in AFMS for 2024, while Command Hospital, Western Command, Chandimandir, Haryana, was awarded second place.

Source: PIB

Appointments

1. Debmalya Sen Appointed President of India Energy Storage Alliance

• What:
  • Debmalya Sen has been appointed as the new President of the India Energy Storage Alliance (IESA), effective April 2, 2025.
• Tell me more:
  • IESA was founded in 2012 by Customized Energy Solutions to make India a hub for R&D, manufacturing, and adoption of advanced energy storage technologies.
  • As President, Sen will oversee IESA’s strategic initiatives, industry partnerships, and advocacy efforts to expand energy storage solutions.

Source: ET

2. Ravneet Kaur Gets Additional Charge as NFRA Chairperson

• What:
  • Ravneet Kaur, CCI chief, has been given additional charge as Chairperson of the National Financial Reporting Authority (NFRA) for three months starting April 1, 2025.
• Tell me more:
  • The Appointments Committee of the Cabinet approved Kaur’s additional charge until a regular incumbent is appointed or further orders are issued.
  • NFRA was established under the companies law in October 2018 to oversee financial reporting standards.
  • NFRA plays a crucial role in regulating financial reporting and auditing practices in India.

Source: ET

Miscellaneous

1. Actor Manoj Kumar Passed Away

• Veteran actor Manoj Kumar, known as ‘Bharat Kumar,’ was cremated with full state honours and a three-gun salute.
• Manoj Kumar was celebrated for films like Shaheed, Upkar, Kranti, Purab Aur Paschim, and Roti Kapda Aur Makaan.

Source: BS

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