25th March 2025

1. Oscar Piastri Triumphs at the Chinese Grand Prix as McLaren Secures One-Two Finish
2. Certification for Eri Silk: A Global Milestone
3. Project PARI: Revitalizing Public Spaces Through Art
4. First-Ever Export of Anthurium Flowers from Mizoram to Singapore
5. Edelweiss ARC Appoints Mythili Balasubramanian as Interim MD & CEO
6. Justice Harish Tandon Appointed as Chief Justice of Orissa High Court
7. International Day for the Right to the Truth concerning Gross Human Rights Violations and for the Dignity of Victims
8. World TB Day 2025: Theme, Significance, and Key Facts
9. SBI Mutual Fund Launches Two New PSU Bank-Focused Schemes
10. Remembering Ram Manohar Lohia on His Birth Anniversary
11. BoB Launches Baroda mDigiNext Mobile App to Enhance Corporate Cash Management
12. RBI imposes monetary penalty on IDBI Bank & Citibank N.A
13. TN Wins National Award for Efficient Water Resource Management
14. GoI Appoints Rahul Bhave as MD & CEO of IFCI for three years
15. MoLJ appoints Justice Harish Tandon as CJ of Orissa High Court
16. GSL Launches 2nd Frigate ‘Tavasya’ of Project 1135.6 for Indian Navy
17. Liquid Robotics & Sagar Defence Engineering Sign MoU to Manufacture ASVs
18. Paras Defence Secures Rs.142 crore Contract from CHESS to Develop Anti-Drone Laser System
19. Bellatrix Aerospace & Astroscale Japan Partner for Space Debris Removal and In-Orbit Mobility
20. McLaren’s Oscar Piastri Claims First F1 Chinese Grand Prix Win
21. World Puppetry Day 2025 – March 21
22. Earth Hour 2025 – March 22
23. Zanskar Winter Sports and Tourism Festival 2024-25 Held in Ladakh
24. Ajay Seth is new finance secretary
25. Centre to expand TB elimination campaign across country: Nadda

National News

1. Cultural Mapping and Public Art Initiatives Launched by the Ministry of Culture

• What:
  • The Ministry of Culture launched the National Mission on Cultural Mapping (NMCM) to preserve and promote India’s cultural heritage, implemented by the Indira Gandhi National Centre for the Arts (IGNCA).
  • NMCM introduced the Mera Gaon Meri Dharohar (MGMD) portal in June 2023 under Azadi Ka Amrit Mahotsav to document the cultural heritage of 6.5 lakh villages, with 4.5 lakh villages already live.
  • Project PARI (Public Art of India), a collaboration between the Ministry of Culture, Lalit Kala Akademi, and the National Gallery of Modern Art, revitalizes India’s public art scene by blending traditional and modern themes.
• Why:
  • NMCM aims to strengthen cultural identity and promote rural economic development by documenting and showcasing India’s cultural assets.
  • Project PARI seeks to foster artistic dialogue and inspiration while providing visibility to regional and lesser-known art forms.

Source: PIB

State News

1. Zanskar Winter Sports and Tourism Festival 2024-25 Held in Ladakh

• What:
  • The Zanskar Winter Sports and Tourism Festival 2024-25 was held at Atting Village in Zanskar, showcasing cultural and sporting events to promote winter tourism.
• Why:
  • The festival aimed to celebrate Ladakh’s winter heritage, attract tourists, and promote winter sports in the region.
• Tell me more:
  • Organized by the Department of Youth Services & Sports, UT Ladakh, the festival included activities like yoga on snow, snow skiing, traditional archery, yak and horse riding, and cultural performances.
  • The administration is working on developing winter sports infrastructure, including a snow ski slope and upgrading the snow ski school in Zanskar.

Source: GOV

Banking and Economy

1. SBI Mutual Fund Introduces Two PSU Bank-Based Passive Schemes

• What:
  • SBI Mutual Fund has launched two new passive schemes: SBI BSE PSU Bank Index Fund and SBI BSE PSU Bank ETF.
  • The new fund offer (NFO) for both schemes is open and will close on March 20.
• Why:
  • These schemes aim to replicate or track the performance of the BSE PSU Bank Index.
• Tell me more:
  • SBI BSE PSU Bank Index Fund is an open-ended scheme tracking the BSE PSU Bank Index.
  • SBI BSE PSU Bank ETF is an open-ended exchange-traded fund tracking the same index.
  • Both funds will allocate 95% to 100% of assets to securities in the BSE PSU Bank Index.
  • Up to 5% can be invested in government securities, triparty repo, and liquid mutual fund units.
  • The minimum investment during the NFO period is ₹5,000, with subsequent investments in multiples of ₹1.
  • The benchmark for both funds is the BSE PSU Bank TRI.
  • The SBI BSE PSU Bank ETF will be listed on NSE and BSE.
  • The fund manager for both schemes is Viral Chhadva.

Source: ET

2. Bank of Baroda Launches Baroda mDigiNext App for Corporates

• What:
  • Bank of Baroda launched the Baroda mDigiNext mobile app for corporate customers using Baroda Cash Management Services (BCMS).
• Why:
  • The app aims to improve working capital management, enhance cash flow efficiency, and provide faster execution and ease of operations for businesses.
• Tell me more:
  • It offers real-time access to financial tools, allowing corporates to make quick and informed decisions.
  • Features include transaction creation and authorization, bulk upload approvals, transaction tracking, real-time enquiries, and account summaries.
  • It has enhanced security with OTP verification and 3-Factor Authentication.

Source: ET

3. RBI Imposes Penalties on Citibank and IDBI Bank

• What:
  • RBI imposed a penalty of ₹36.28 lakh on Citibank N.A. and ₹36.30 lakh on IDBI Bank Ltd for regulatory violations.
• Why:
  • Citibank was penalized for not following directions on reporting transactions under the Liberalised Remittance Scheme, while IDBI Bank was fined for not conducting due diligence in processing inward remittances from a foreign currency account.
• Tell me more:
  • RBI clarified that the penalties are due to deficiencies in regulatory compliance.
  • The fines are not a judgment on the validity of any transaction or agreement between the banks and their customers.
  • The Liberalised Remittance Scheme allows Indian residents to remit funds abroad up to a specified limit.

Source: ET

Defence News

1. Indian Navy Launches Frigate ‘Tavasya’ Under Project 1135.6

• What:
  • The second frigate of Project 1135.6 Additional Follow-on Ships, named ‘Tavasya’, was launched by Goa Shipyard Limited (GSL) in the presence of MoS for Defence Sanjay Seth and Vice Admiral Sanjay J Singh.
• Why:
  • The launch highlights India’s technological capabilities and commitment to self-reliance in naval defence.
• Tell me more:
  • These frigates are an indigenous follow-on of P1135.6 ships.
  • The ship is named after the mace of Bhima from the ‘Mahabharata’.
  • ‘Tavasya’ features critical indigenous components like the BrahMos missile system, torpedo launchers, sonar, and auxiliary control systems.
  • It is designed for surface, sub-surface, and air combat operations.

Source: ANI

2. Paras Defence Secures Rs 142.31 Crore DRDO Contract

• What:
  • Paras Defence & Space Technologies won a Rs 142.31 crore contract from DRDO’s Centre for High Defence Systems & Sciences (CHESS) to develop a high-powered anti-drone laser system.
• Why:
  • The project aims to enhance India’s defence capabilities with advanced homegrown technology.
• Tell me more:
  • The system includes a laser source module and beam control integration on a mobile platform for anti-drone and anti-missile applications.
  • High-power laser technology offers precise, cost-effective, and rapid-response solutions to aerial threats.
  • The project is expected to generate employment for highly skilled professionals in research, development, and manufacturing.

Source: ANI

3. Bellatrix Aerospace and Astroscale Japan Sign MoU

• What:
  • Bellatrix Aerospace and Astroscale Japan signed an MoU for propulsion solutions to enhance satellite servicing and space sustainability.
• Why:
  • The partnership aims to support active debris removal, satellite servicing, and in-orbit mobility for a cleaner space environment.
• Tell me more:
  • The collaboration will focus on India’s space market and expand to global markets.
  • Bellatrix has completed three space missions in the past year, achieving space qualification for its green propulsion and Hall-Effect Thruster technologies.
  • Astroscale Japan provides services like life extension, space situational awareness, end-of-life disposal, and active debris removal.
  • Astroscale’s spacecraft have been used in missions with JAXA, US Space Force, ESA, UK Space Agency, and Eutelsat OneWeb.

Source: TOI

Awards

1. Tamil Nadu Irrigation Project Wins National Award

• What:
  • The Tamil Nadu Irrigated Agriculture Modernisation Project (TNIAMP) received the National Award for ‘Excellence in Integrated Water Resources Management 2024’ from the Central Board of Irrigation and Power (CBIP), Government of India.
• Why:
  • The award recognizes TNIAMP’s success in addressing water resource challenges and promoting sustainable agricultural development.
• Tell me more:
  • TNIAMP is supported by the World Bank.
  • The project has set a benchmark for future initiatives in the region.
  • The award highlights excellence in water resource management and sustainable agriculture.

Source: TH

Important Dates

1. International Day for the Right to the Truth concerning Gross Human Rights Violations and for the Dignity of Victims – March 24

Source: UN

2. World Tuberculosis Day – March 24

• What:
  • The theme for 2025 is “Yes! We Can End TB: Commit, Invest, Deliver”, emphasizing stronger commitments, investment, and action.
• Why:
  • The initiative aligns with the UN’s target of eliminating TB globally by 2030.
• Tell me more:
  • India aims to eliminate TB by 2025 under the National Tuberculosis Elimination Programme (NTEP).
  • India’s National Strategic Plan (2017-2025) focuses on Detect – Treat – Prevent – Build (DTPB) to combat TB.
  • The NTEP recorded its highest-ever case notifications, with 26.07 lakh cases in 2024.
  • India developed its first indigenous TB Burden Model for state-wise estimates.
  • TB-related deaths dropped from 28 per lakh (2015) to 22 per lakh (2023).
  • Multi-sector partnerships with ministries, NGOs, and private sectors are strengthening TB response efforts.

Source: PIB

3. World Puppetry Day – March 21

4. Earth Hour – March 22

• Theme: The Power of Nature

Source: IT

Sports

1. Oscar Piastri Wins Chinese Grand Prix in Formula 1

• Oscar Piastri secured victory at the Chinese Grand Prix, beating teammate Lando Norris; McLaren showcased strong performance, while Ferrari faced a double disqualification for Charles Leclerc and Lewis Hamilton.

Source: ESPN

Memorandum of Understanding

1. Boeing and Sagar Defence Sign MoU for ASV Development

• What:
  • Boeing’s Liquid Robotics and India’s Sagar Defence Engineering signed an MoU for the co-development of Autonomous Surface Vessels (ASVs) in India.
• Why:
  • The collaboration aims to enhance undersea domain awareness and establish maintenance capabilities in the Indo-Pacific region.
• Tell me more:
  • The agreement includes manufacturing, system interoperability, ocean testing, and MRO capabilities for the Wave Glider ASV platform.
  • It aligns with the U.S.-India Joint Leaders Statement, emphasizing co-development and co-production of critical systems.
  • The partnership will explore potential export opportunities within the region.

Source: ET

Appointments

1. Edelweiss ARC Appoints Interim MD & CEO

• Edelweiss Asset Reconstruction Company (EARC) has appointed Mythili Balasubramanian as the Interim Managing Director and Chief Executive Officer, effective immediately, till September 30.

Source: MoC

2. Rahul Bhave Appointed MD & CEO of IFCI

• What:
  • The government has approved the appointment of Rahul Bhave as Managing Director and CEO of IFCI for three years.
• Why:
  • The appointment was approved by the Appointments Committee of the Cabinet (ACC), headed by the Prime Minister.
• Tell me more:
  • The Industrial Finance Corporation of India (IFCI) was established on July 1, 1948, as India’s first development financial institution.
  • In November 2024, the finance ministry approved the ‘Consolidation of IFCI Group,’ which involves merging IFCI Ltd with StockHolding Corporation of India Ltd and other group companies.

Source: ET

3. Ajay Seth Appointed as New Finance Secretary

• Ajay Seth, a senior bureaucrat, has been designated as the new Finance Secretary.
• He was appointed after the position became vacant due to Tuhin Kant Pandey’s appointment as SEBI chairman.

Source: ET

Miscellaneous

1. PM Modi Pays Tribute to Dr. Ram Manohar Lohia

• Prime Minister Narendra Modi paid tribute to Dr. Ram Manohar Lohia on his birth anniversary.
• He remembered Dr. Lohia as a visionary leader, a fierce freedom fighter, and an icon of social justice.

Source: PIB

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