07th March 2025

1. Suborno Bose Honored for Revolutionizing Hospitality Education
2. Union Minister Scindia Unveils India’s Telecom Progress at MWC 2025
3. RBI Appoints Dr. Ajit Ratnakar Joshi as Executive Director
4. Vividhta Ka Amrit Mahotsav Inaugurated By President
5. PM Modi Announces Asiatic Lion Population Estimation
6. Expanding Cheetah Reintroduction in India, New Habitats Identified in Gujarat and Madhya Pradesh
7. Uttarakhand Cabinet Approves Unified Pension Scheme and New Excise Policy for 2025
8. DRDO Conducts High-Altitude Trial of Integrated Life Support System for Tejas Aircraft
9. Overview of PM Narendra Modi’s 3-day Visit to Gujarat from March 1 to 3, 2025
10. GSI Celebrates 175th Foundation Day & Launches Two Significant Digital Initiatives
11. ISM, TEPL, & TSMLP Sign Fiscal Support Agreement for Semiconductor Fab
12. Solar Defence and Aerospace Signs a Contract Worth Rs 239 Crore with MoD
13. The Wealth Report 2025: India Ranked 4th Globally with 85,689 HNWIs; behind US, China, and Japan
14. Uma Sharma Honored at the 5th BRICS CCI WE Annual Women’s Summit & Felicitations
15. Nithin Kamath of Zerodha Named EY Entrepreneur Of The Year 2024
16. RBI Appoints Dr. Ajit Ratnakar Joshi as its Executive Director
17. Shubman Gill Becomes Brand Ambassador of MRF
18. JFSL Buys out SBI’s stake in JPBL for Rs 104.5 Crore
19. Lockheed Martin Concludes Flight Tests of F-35B with Advanced LRASM
20. Indian Table Tennis Champion Achanta Sharath Kamal Announces Retirement
21. India to Host the World Para Athletics Grand Prix 2025

National News

1. Vividhta ka Amrit Mahotsav Celebrates South India

• What:
  • President Droupadi Murmu inaugurated the second edition of “Vividhta ka Amrit Mahotsav” at Rashtrapati Bhavan, focusing on the cultural heritage of southern states.
• Why:
  • The event aims to celebrate and showcase India’s rich diversity, particularly highlighting the vibrant cultural heritage of southern states.
• Tell me more:
  • The festival features artisans and weavers from Karnataka, Kerala, Tamil Nadu, Telangana, Andhra Pradesh, Lakshadweep, and Puducherry.
  • It includes cultural performances, handicraft exhibitions, literary events, workshops, and food courts.

Source: TP

2. 16th Asiatic Lion Population Census

• What:
  • Prime Minister Narendra Modi approved the 16th population estimation of the Asiatic lion, scheduled for May 2025, during the seventh National Wildlife Board meeting in Sasan, Gujarat.
  • The seventh National Wildlife Board meeting was organized on the occasion of World Wildlife Day (March 3).
• Why:
  • The estimation aims to assess the current population of Asiatic lions, which had been postponed due to the COVID-19 pandemic, and to monitor conservation efforts.
• Tell me more:
  • The Asiatic lion population has increased significantly since 2001, with their habitat expanding across Gujarat.
  • The central government has allocated over Rs 2,900 crore for Project Lion to conserve these lions.
  • Modi also laid the foundation for a National Referral Centre-Wildlife at Junagadh and announced a Centre of Excellence for Human-Wildlife Conflict Management in Coimbatore.
  • The Prime Minister announced the expansion of cheetah introduction to Banni Grasslands in Gujarat and Gandhisagar Sanctuary in Madhya Pradesh during the meeting.

Source: IE BS

3. Geological Survey of India (GSI) Celebrates 175th Foundation Day

• What:
  • The Geological Survey of India (GSI) marked its 175th Foundation Day with a ceremony in Kolkata, launching digital initiatives like the Field Data Acquisition App and Geo-heritage App ‘Bhuvirasat’.
• Why:
  • The event aimed to enhance data collection efficiency, promote geo-heritage awareness, and highlight GSI’s contributions to mineral exploration and geosciences.
• Tell me more:
  • Union Minister G. Kishan Reddy launched the digital initiatives and praised GSI’s role in mineral resource exploration and landslide risk management.
  • GSI handed over ‘Regional Mineral Targeting’ projects to private agencies, fostering public-private collaboration.

Source: TOI

4. India’s First Commercial Semiconductor Fab

• What:
  • India Semiconductor Mission, Tata Electronics, and Tata Semiconductor Manufacturing signed a Fiscal Support Agreement for India’s first commercial semiconductor fab in Dholera, Gujarat, with a total investment of over ₹91,000 crore.
• Why:
  • The agreement aims to strengthen India’s technological self-reliance and semiconductor manufacturing ecosystem, transforming India into a global manufacturing powerhouse.
• Tell me more:
  • The project will generate over 20,000 direct and indirect skilled jobs and address critical global semiconductor markets in automotive, computing, communications, and AI sectors.
  • The Government of India has committed 50% fiscal support for eligible project costs, demonstrating national commitment to building a world-class semiconductor ecosystem.
  • The facility will be built with expertise from Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC), creating a powerful technological alliance.

Source: PIB

State News

1. Uttarakhand Adopts Unified Pension Scheme

• What:
  • The Uttarakhand Cabinet approved the implementation of the Central Government’s Unified Pension Scheme for state officers and employees, effective from April 1, 2025, and introduced a new Excise Policy for 2025.
• Why:
  • The Unified Pension Scheme aims to provide an assured payout to employees after retirement, while the new Excise Policy seeks to regulate liquor sales and increase revenue.
• Tell me more:
  • The new Excise Policy includes closing liquor licenses near religious places and enforcing strict controls on liquor sales.
  • The policy also ensures that shops selling above MRP can have their licenses canceled.
  • Uttarakhand has set an excise revenue target of Rs 5,060 crore for the financial year 2025-26.

Source: ET

International News

1. Mobile World Congress (MWC) in Barcelona, Spain

• What:
  • MWC 2025, themed “Converge. Connect. Create.”, is taking place from March 3–6 in Barcelona.
  • India’s Union Minister Shri Jyotiraditya M Scindia attended the Mobile World Congress (MWC) 2025 in Barcelona, highlighting India’s rapid 5G rollout and indigenous telecom technologies.
• Why:
  • The visit aimed to showcase India’s telecom transformation and commitment to tech governance, emphasizing innovation, inclusivity, sustainability, and trust.
• Tell me more:
  • During the event, Minister Scindia addressed key sessions on global tech governance and telecom policy, highlighting India’s guiding principles.
  • He inaugurated the Bharat Pavilion, featuring Indian telecom equipment manufacturers, and unveiled India Mobile Congress 2025.
  • The Minister also interacted with industry leaders to foster strategic partnerships and innovation in the telecom sector.

Source: PIB

2. Lockheed Martin Tests LRASM on F-35B Fighter

• What:
  • Lockheed Martin successfully completed an initial flight test integrating the Long Range Anti-Ship Missile (LRASM) onto the F-35B Lightning II stealth fighter jet.
• Why:
  • The integration aims to enhance the F-35’s capabilities by increasing its reach and lethality against strategic targets.
• Tell me more:
  • The test allowed the F-35B to carry Lockheed’s AGM-158 strike systems, including the JASSM and LRASM.
  • The test was conducted in collaboration with the F-35 Pax River Integrated Test Force.

Source: ET

Banking and Economy

1. Jio Payments Bank to Become Wholly-Owned Subsidiary

• What:
  • SBI has agreed to sell its stake in Jio Payments Bank to Jio Financial Services, making Jio Payments Bank a wholly-owned subsidiary of Jio Financial.
• Why:
  • The deal aims to consolidate Jio Financial’s control over Jio Payments Bank, aligning with its strategic restructuring and expansion plans.
• Tell me more:
  • SBI is selling its 17.8% stake for ₹104.54 crore, with the transaction subject to RBI approval and expected to be completed within 45 days.
  • Jio Payments Bank is one of six payments banks in India, initially established as a joint venture between Reliance Industries and SBI in 2018.

Source: ET

Reports and Indices

1. Global Wealth Report By Knight Frank

• What:
  • India has emerged as a leading global wealth hub, ranking fourth in the number of High Net-Worth Individuals (HNWIs), with a population of 85,698, according to Knight Frank’s Global Wealth report.
• Why:
  • The growth is attributed to India’s economic dynamism, rising risk appetite, and a thriving startup ecosystem fueled by widespread smartphone access and entrepreneurship.
• Tell me more:
  • The global HNWI population rose by 4.4% in 2024, with the US leading the growth.
  • India’s HNWI population expanded rapidly, driven by its entrepreneurial culture and tech-driven businesses.
  • The country also saw a significant increase in billionaires, with 26 new billionaires added in the past year.
  • The US, China, and Japan are the top 3 countries.

Source: BS

Defence News

1. DRDO Successfully Tests Indigenous ILSS for Tejas

• What:
  • The Defence Research and Development Organisation (DRDO) successfully conducted high-altitude trials of an indigenous integrated life support system (ILSS) for the Light Combat Aircraft (LCA) Tejas.
• Why:
  • The ILSS aims to provide a reliable oxygen supply system for pilots during flight, replacing traditional liquid oxygen cylinders with an onboard oxygen generating system.
• Tell me more:
  • The trial was conducted by the Defence Bio-Engineering & Electro Medical Laboratory (DEBEL) in Bengaluru using the LCA-PV-3 aircraft.
  • The system can also be adapted for use in other aircraft like the MiG 29K.
  • The ILSS was tested under various flight conditions, including high altitudes and g forces, and met all specified performance parameters.

Source: TH

2. Solar Industries Wins Defence Contract

• What:
  • Solar Industries India’s subsidiary, Solar Defence and Aerospace, signed a Rs 239 crore contract with the Ministry of Defence to supply multi-mode handgrenades.
• Why:
  • The contract aims to fulfill the Ministry of Defence’s requirements for multi-mode handgrenades, contributing to India’s defence capabilities.
• Tell me more:
  • The project must be completed within one year.
  • Solar Industries India is a leading manufacturer of explosives and has diversified into defence products like propellants and warheads.

Source: BS

Awards

1. Dr. Suborno Bose Honored for Hospitality Technology

• What:
  • Dr. Suborno Bose, Chairman of the International Institute of Hotel Management (IIHM), received the ‘Lifetime Achievement in Hospitality and Education Through Technology’ award at the Vibrant Bharat Global Summit 2025.
  • Additionally, IIHM launched the world’s first AI-powered HospitalityGPT.
• Why:
  • The award recognized Dr. Bose’s efforts to integrate technology, particularly AI, into hospitality and education.
• Tell me more:
  • The award was presented by Union Tourism Minister Gajendra Shekhawat. Dr. Bose also launched his book, “Harmonizing Human Touch and AI in Tourism & Hospitality,” which explores how AI enhances guest satisfaction and operational efficiency.
  • IIHM has collaborated with over 50 countries to advance AI-driven hospitality education through the Global Knowledge Sharing Declaration.
  • The AI-powered HospitalityGPT is designed to provide real-time insights and trends for the hospitality industry.

Source: TW

2. Nithin Kamath Named EY Entrepreneur of the Year

• What:
  • Nithin Kamath, Founder and CEO of Zerodha, was named the EY Entrepreneur Of The Year (EOY) 2024 for his innovative brokerage model and entrepreneurial achievements.
• Why:
  • The award recognizes his pioneering work in reshaping the brokerage industry with a low-margin, high-volume model and his contributions to fintech and social initiatives.
• Tell me more:
  • Kamath built Zerodha into a billion-dollar company without external funding and will represent India at the EY World Entrepreneur Of The Year in Monte Carlo.
  • The winners collectively generate nearly Rs 2 lakh crore in revenue and employ around 3 lakh people worldwide.

Source: IT

Sports

1. Achanta Sharath Kamal Retires from Table Tennis

• What:
  • Achanta Sharath Kamal, India’s iconic table tennis star, has announced his retirement from professional table tennis, with his final competition being the WTT Star Contender event in Chennai.
• Why:
  • The retirement marks the end of an illustrious career spanning multiple decades, during which Kamal faced numerous challenges, including injuries and administrative issues.
• Tell me more:
  • Kamal is a five-time Olympian and holds the record for the most Commonwealth Games medals in table tennis for India, with 13 medals.
  • He plans to continue contributing to the sport through coaching and athlete development after retirement.

Source: BS

2. India Hosts First World Para Athletics Grand Prix

• What:
  • India is set to host its first-ever World Para Athletics Grand Prix New Delhi 2025 at the Jawaharlal Nehru Stadium from March 11 to 13, featuring over 90 competitions and participation from 20 countries.
• Why:
  • The event aims to elevate India’s track and field landscape, promote inclusivity, and showcase the country’s capabilities in hosting international sports events.
• Tell me more:
  • The Grand Prix will include elite para-athletes from countries like Germany, Japan, Australia, and Brazil.
  • The event is expected to draw significant attention and serve as a stepping stone for future prestigious competitions.

Source: ANI

Appointments

1. RBI Appoints Dr. Ajit Ratnakar Joshi as Executive Director

• What:
  • The Reserve Bank of India (RBI) has appointed Dr. Ajit Ratnakar Joshi as an Executive Director, effective from March 3, 2025, overseeing the Department of Statistics and Information Management and the Financial Stability Department.
• Why:
  • The appointment aims to leverage Dr. Joshi’s expertise in statistics, financial stability, and policy research to enhance RBI’s data-driven decision-making and regulatory framework.
• Tell me more:
  • Dr. Joshi previously served as Principal Adviser in the Department of Statistics and Information Management (DSIM) and has extensive experience in statistics, IT, and cyber risk management.
  • He has been a faculty member at IDRBT, Hyderabad, and contributed to committees on macroeconomic statistics and policy issues.

Source: TOI

2. Uma Sharma Honored at BRICS CCI Summit

• What:
  • Uma Sharma, Chairperson of Kailash Group of Hospitals, received a National Award at the BRICS CCI Women’s Entrepreneurship and Empowerment Program for her exceptional contributions.
• Why:
  • The award recognizes her outstanding work at national and international levels, promoting women’s entrepreneurship and economic empowerment.
• Tell me more:
  • The event was part of the 5th Annual Summit organized by the Women’s Wing of the BRICS Chamber of Commerce and Industry.
  • The summit focused on promoting women’s entrepreneurship across BRICS nations and announced a new initiative to support women traders and entrepreneurs.

Source: TW

3. RBI Appoints Dr. Ajit Ratnakar Joshi as Executive Director

• What:
  • The Reserve Bank of India (RBI) appointed Dr. Ajit Ratnakar Joshi as an Executive Director, effective March 3, 2025, to oversee the Department of Statistics and Information Management and the Financial Stability Department.
• Why:
  • The appointment aims to leverage Dr. Joshi’s expertise in statistics, IT, and cyber risk management to enhance RBI’s data-driven decision-making and regulatory framework.
• Tell me more:
  • Dr. Joshi previously served as Principal Adviser in the Department of Statistics and Information Management and has extensive experience in statistics and policy issues.
  • He has also been a faculty member at the Institute for Development and Research in Banking Technology, Hyderabad.

Source: LM

4. MRF Signs Shubman Gill as Brand Ambassador

• What:
  • MRF has signed cricketer Shubman Gill, currently the No 1 ranked ODI batter, as its brand ambassador, joining other elite cricketers associated with the brand.
• Why:
  • The partnership aims to leverage Shubman Gill’s cricketing prowess and leadership skills to promote MRF’s brand values of quality, performance, and excellence.
• Tell me more:
  • The association will extend across all future cricket tournaments, alongside MRF’s ongoing partnership with Virat Kohli.

Source: TOI

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