27th March 2025

1. New Pamban Rail Bridge Will Inaugurated by Prime Minister Modi
2. Manoj Bharathiraja Passes Away: A Tribute to the Tamil Actor-Director
3. Sunil Kumar Wins Bronze at Asian Wrestling Championships 2025
4. Reliance Acquires Nauyaan Tradings, Expands Shipyard Operations
5. India Becomes the World’s Top Milk Producer: Growth, Challenges & Future Goals
6. India and Singapore Sign Letter of Intent on Green and Digital Shipping Corridor (GDSC)
7. International Unborn Child Day
8. Ex-Cabinet Secretary Rajiv Gauba Appointed Full-Time Member of NITI Aayog
9. S&P Lowers India’s Growth Forecast for FY26 to 6.5%
10. Sanjay Singh Elected UWW-Asia Bureau Member
11. Supreme Court Establishes National Task Force for Student Mental Health Concerns
12. Bellatrix Aerospace Partners with Astroscale Japan for Space Debris Removal
13. Ajinkya Rahane Creates IPL History: First Indian to Captain Three Different Teams
14. DPIIT Mandates BIS Certification for Hinges Effective from July 1, 2025
15. DoP Releases Rs.5 Commemorative Postage Stamp on Mata Karma
16. ADB & Shriram Finance Sign USD 150 million Loan Agreement for MSME & EV Financing in India
17. Poonawalla Fincorp Launches AI-Powered Underwriting Solution with IIT Bombay
18. HDFC Bank Launches ‘Embassy Fixed Deposit Scheme’
19. BluPine Energy secures Rs 1,787 cr funding from NaBFID
20. Japanese Consortium Signed MoU to Establish Green Ammonia Production Facility in Odisha
21. SIDBI Signed MoU with CMAI & SICS to Strengthen Textile MSME Sector
22. IN-SPACE Appoints SVCL as Fund Manager for Rs. 1000 Crore VC in Space Sector
23. JSW Steel becomes world’s most valuable steelmaker with $30.3 bn market cap
24. CWG medalist B Sumeeth Reddy Announces Retirement from Badminton
25. International Day of Solidarity with Detained and Missing Staff Members 2025 – March 25
26. IREDA Raises 910 crore through issuance of bonds
27. Five Centres of Excellence for skilling likely to be set up in NSTIs

National News

1. India and Singapore Sign Letter of Intent for Green and Digital Shipping Corridor

• What:
  • India and Singapore signed a Letter of Intent (LoI) to establish a Green and Digital Shipping Corridor (GDSC) focusing on digitalisation and decarbonisation.
• Why:
  • The initiative aims to accelerate the adoption of zero or near-zero greenhouse gas emission technologies and digital solutions in the maritime sector.
• Tell me more:
  • The LoI was signed by R Lakshmanan, Joint Secretary, Ministry of Ports, Shipping and Waterways (MoPSW), and Teo Eng Dinh, CEO of the Maritime and Port Authority of Singapore.
  • The partnership will formalise through a memorandum of understanding and involve collaboration on maritime digitalisation and decarbonisation projects.
  • The signing was witnessed during the Singapore Maritime Week (March 24-28, 2025).
  • India is positioned as a leading IT player with potential in green marine fuel production, while Singapore is a key trans-shipment hub with a strong research ecosystem.

Source: ET

2. Supreme Court Forms National Task Force to Address Student Suicides

• What:
  • The Supreme Court formed a National Task Force (NTF) to address mental health concerns and prevent student suicides in higher educational institutions.
• Why:
  • The initiative aims to strengthen mechanisms to address factors leading to student suicides and improve mental health support in campuses.
• Tell me more:
  • The NTF will be chaired by former Supreme Court judge Justice S Ravindra Bhat.
  • Members include secretaries from higher education, social justice, empowerment, legal affairs departments, and the Ministry of Women and Child Development.
  • The task force will identify causes of student suicides, analyze existing regulations, and recommend solutions.
  • It can conduct surprise inspections of educational institutions and make additional recommendations for holistic mental health support.
  • An interim report will be submitted within four months, followed by a final report within eight months.

Source: TH

3. IN-SPACe Appoints SVCL to Manage ₹1,000 Crore Space Tech Fund

• What:
  • IN-SPACe appointed Sidbi Venture Capital Limited (SVCL) to manage a ₹1,000 crore venture capital fund for supporting space tech startups in India.
• Why:
  • The fund aims to boost private sector participation in the space sector, support startups at various growth stages, and create a multiplier effect by attracting additional investments.
• Tell me more:
  • The fund will be distributed over five years, starting with ₹150 crore in 2025-26, followed by ₹250 crore annually for three years, and ₹100 crore in 2029-30.
  • Funding ranges from ₹10 crore to ₹30 crore for growth-stage startups and ₹30 crore to ₹60 crore for late-stage startups.
  • The initiative is expected to support 40 startups across the upstream, midstream, and downstream space supply chain.
  • The fund will help startups scale operations, invest in R&D, expand their workforce, and retain companies within India.

Source: ET

4. Government to Establish Five National Centres of Excellence for Skilling

• What:
  • The Ministry of Skill Development and Entrepreneurship (MSDE) plans to set up five National Centres of Excellence (CoEs) for skilling at existing National Skill Training Institutes (NSTIs).
• Why:
  • The initiative aims to create a skilled workforce for emerging sectors under the ‘Make in India’ initiative and enhance India’s global competitiveness.
• Tell me more:
  • The CoEs will focus on advanced infrastructure, globally aligned curricula, and industry collaboration.
  • Training will include instructor development, continuous learning programs, certifications, and incentives for skilled trainers.
  • Partnerships will cover curriculum design, training of trainers, skills certification frameworks, and periodic reviews.
  • The announcement for creating these centres was made in this year’s Union Budget.
  • In the previous budget (2024-25), the government announced upgrading 1,000 ITIs with a central outlay of ₹30,000 crore over five years to benefit two million youth.

Source: ET BS

State News

1. New Pamban Bridge Inauguration by PM Modi

• What:
  • Prime Minister Narendra Modi will inaugurate the new Pamban Bridge on April 6 during Ram Navami, connecting mainland India to Rameswaram Island and reducing train crossing time from 25-30 minutes to under 5 minutes.
• Why:
  • The bridge aims to enhance connectivity and support faster train operations between mainland India and Rameswaram Island.
• Tell me more:
  • The new Pamban Bridge is Asia’s first vertical lift railway sea bridge.
  • It has been constructed at a cost of ₹535 crore by Rail Vikas Nigam Limited (RVNL).
  • The old bridge, built in 1914, was decommissioned in 2022 due to corrosion.
  • The new bridge is designed for speeds of up to 80 kmph, with a safety-approved speed limit of 75 kmph and 50 kmph for the lift span.
  • The electromechanical system allows the bridge to lift in just 5 minutes, operated by a single person.
  • Trials and safety certifications have been completed for the bridge.

Source: LM

Banking and Economy

1. Reliance Acquires Stake in Nauyaan Tradings and Shipyard

• What:
  • Reliance Industries Ltd acquired a 100% stake in Nauyaan Tradings Private Limited (NTPL) through its subsidiary Reliance Strategic Business Ventures Limited (RSBVL).
• Why:
  • The acquisition aims to expand Reliance’s shipyard operations and support its manufacturing activities.
• Tell me more:
  • The NTPL acquisition cost ₹1 lakh and was completed with Welspun Tradings Limited, a subsidiary of Welspun Corp Limited.
  • NTPL has entered an agreement to acquire a 74% stake in Nauyaan Shipyard Private Limited (NSPL) for ₹382.73 crore by March 21, 2025.
  • NSPL, incorporated in 2021, is valued at ₹643.78 crore, with ₹126.57 crore in debt and liabilities.

Source: BS

2. Government Issues Quality Norms for Hinges to Boost Domestic Manufacturing

• What:
  • The government issued the Hinges (Quality Control) Order, 2025, mandating BIS certification for hinges to curb imports of sub-standard goods and support domestic manufacturing.
• Why:
  • The order aims to ensure product quality, prevent unfair trade practices, and promote consumer safety and environmental well-being.
• Tell me more:
  • The order was issued by the Department for Promotion of Industry and Internal Trade (DPIIT).
  • It will be implemented from July 1, 2025, and applies to production, sale, trade, import, and stocking of hinges without BIS certification.
  • Exemptions include hinges manufactured for export and up to 200 articles imported annually for research and development purposes.
  • Violations of the BIS Act can lead to imprisonment of up to two years or fines starting at ₹2 lakh for the first offence, increasing to ₹5 lakh or more for subsequent offences.

Source: ET

3. ADB and Shriram Finance Partner to Support MSMEs and EV Financing

• What:
  • The Asian Development Bank (ADB) signed a $150 million loan agreement with Shriram Finance Limited to support MSMEs and finance electric and low-emission commercial vehicles in India.
• Why:
  • The initiative aims to enhance financial inclusion for underserved MSMEs, especially women entrepreneurs, and promote sustainable development through EV adoption.
• Tell me more:
  • The loan is part of a $306 million financing package led by ADB, including contributions from Japan International Cooperation Agency and Export-Import Bank of India.
  • Shriram Finance specializes in MSME lending and commercial vehicle financing, with strong operations in rural and semi-urban areas.
  • MSMEs contribute 30% to India’s GDP but face significant challenges in accessing formal credit, with only a quarter of the market being served by financial institutions.
  • ADB’s loan will help bridge this gap and contribute to India’s EV30@30 initiative, which targets 30% of new vehicle sales to be electric by 2030.

Source: ADB

4. Poonawalla Fincorp Unveils AI-Powered Underwriting Solution

• What:
  • Poonawalla Fincorp Limited launched an AI-powered underwriting solution to accelerate credit decisions and improve risk management.
• Why:
  • The initiative aims to enhance efficiency, accuracy, scalability, and productivity in credit evaluation while addressing real-world underwriting demands.
• Tell me more:
  • The solution was developed in collaboration with IIT Bombay, integrating artificial intelligence with human intelligence.
  • It analyzes multiple data points from loan applications, enabling faster and more informed decision-making by credit managers.
  • The initiative is expected to boost productivity in retail lending by 40%.

Source: ET

5. HDFC Bank Launches Embassy Fixed Deposit for Diplomats

• What:
  • HDFC Bank introduced the Embassy Fixed Deposit, exclusively for diplomats, non-diplomatic staff, and diplomatic missions.
• Why:
  • The initiative aims to provide tailored financial solutions for specific customers while ensuring compliance with strict guidelines.
• Tell me more:
  • The fixed deposit is available only in USD, with a minimum deposit amount of USD 5,000 and additional deposits in multiples of USD 1,000.
  • Interest rates are updated monthly and are subject to market conditions, with the applicable rate determined at the time of deposit processing.
  • Tenures offered include 1 month, 3 months, 6 months, and 1 year, with no changes allowed once booked.
  • Automatic renewal is not allowed; proceeds are credited back to the foreign currency account upon maturity. Reinvestment requires a new request form.
  • Premature withdrawals are allowed with a penalty of 0.5%, and interest is recalculated based on the actual deposit duration.
  • If a deposit matures on a non-business day, interest is calculated at the original rate until the next working day.

Source: ET

6. BluPine Energy Secures ₹1,787 Crore Financing from NaBFID

• What:
  • BluPine Energy signed a ₹1,787 crore financing deal with the National Bank for Financing Infrastructure and Development (NaBFID) to repower solar assets and support portfolio expansion.
• Why:
  • The financing aims to improve operational efficiency, reduce debt servicing costs, and enhance financial flexibility for renewable energy projects.
• Tell me more:
  • The deal involves a Restricted Group of 14 Special Purpose Vehicles (SPVs) across Punjab, Uttarakhand, and Karnataka.
  • The SPVs include projects with both central and state off-takers.
  • Deloitte played a key role in structuring the transaction, while Argus Partners and Dentons Link Legal facilitated its execution.

Source: ET

7. JSW Steel Becomes World’s Highest-Valued Steelmaker

• What:
  • JSW Steel achieved a market capitalization exceeding $30 billion, becoming the highest-valued steelmaker globally.
• Tell me more:
  • It surpassed US-based Nucor Corp ($29.92 billion) and other global steelmakers like ArcelorMittal, Nippon Steel, and Baoshan Iron ($21–27 billion market caps).
  • Among Indian steelmakers, Tata Steel has a market capitalization of $23 billion, Jindal Steel $10.81 billion, and SAIL $5.5 billion.

Source: TOI

8. IREDA Raises ₹910 Crore Through Tier-II Bonds

• What:
  • Indian Renewable Energy Development Agency Ltd (IREDA) raised ₹910 crore via privately placed subordinated Tier-II bonds for a 10-year tenor at an annual coupon rate of 7.74%.
• Why:
  • The funds will enhance IREDA’s Tier-II capital, increase its net worth, and improve its capital-to-risk-weighted assets ratio (CRAR), enabling it to accelerate green energy financing.
• Tell me more:
  • The bond issuance reflects strong investor confidence in IREDA’s financial strength and strategic vision.
  • The initiative aligns with the Government of India’s target to achieve 500 GW of non-fossil fuel-based energy capacity by 2030.

Source: ET

GDP Forecasts

1. S&P Global Lowers India’s GDP Growth Forecast for 2025-26

• What:
  • S&P Global has reduced India’s GDP growth forecast for 2025-26 from 6.7% to 6.5%.
• Why:
  • The revision reflects the impact of rising US tariffs and pushback on globalisation, which may strain Asia-Pacific economies.
• Tell me more:
  • Despite the lowered forecast, domestic demand momentum is expected to remain strong in emerging-market economies of the region.
  • The report highlights challenges posed by global economic conditions on regional growth.

Source: TOI

Agriculture and Rural Development

1. India Sets Target for 300 MMT Milk Production

• What:
  • India aims to increase milk production to 300 million metric tons (MMT) in the next five years from the current 239 MMT.
• Why:
  • The government plans to increase production by an additional 15% in the next three years.
• Tell me more:
  • Milk production has grown by 63.5% since the launch of Rashtriya Gokul Mission (RGM) in 2014.
  • About 10 crore people are involved in milk production, with 75% being women.
  • India’s per person milk consumption stands at 471 grams.

Source: TH

Important Days

1. International Day of the Unborn Child – March 25
2. International Day of Solidarity with Detained and Missing Staff Members – March 25

Sports

1. Indian Wrestlers Shine at Senior Asian Wrestling Championship 2025

• What:
  • Indian wrestler Nitesh won a bronze medal in the Greco-Roman category at the Senior Asian Wrestling Championship 2025 in Amman, Jordan.
• Tell me more:
  • Nitesh defeated Amanberdi Agamammedov of Turkmenistan 9-0 to secure the bronze medal through Victory by Suppression (VSU).
  • He started by defeating Kazakhstan’s Ilyas Guchigov but lost to Iran’s Mohammadhadi Abdollah Saravi in the semifinals.
  • Sunil Kumar also won a bronze medal in the men’s 87kg category by defeating China’s Jiaxin Huang 5-1.
  • Other Indian wrestlers, Nitin and Sagar Thakran, faced defeats in their respective matches.
  • The women’s wrestling competition is set to begin with five weight categories featuring athletes like Antim Panghal and others.

Source: TOI

2. Ajinkya Rahane Becomes First Indian to Captain Three IPL Teams

• What:
  • Ajinkya Rahane became the first Indian player to captain three teams in IPL history during Kolkata Knight Riders’ match against Royal Challengers Bengaluru on March 22, 2025.
• Why:
  • The achievement highlights Rahane’s leadership role and versatility in the Indian Premier League.
• Tell me more:
  • Rahane previously captained Rising Pune Supergiants (1 match in IPL 2017) and Rajasthan Royals (24 matches in IPL 2018 and 2019).
  • Other players who have captained three IPL teams include Kumar Sangakkara, Mahela Jayawardene, and Steve Smith.
  • Sangakkara led Punjab Kings, Deccan Chargers, and Sunrisers Hyderabad; Jayawardene captained Punjab Kings, Kochi Tuskers Kerala, and Delhi Capitals; Smith captained Pune Warriors India, Rising Pune Supergiants, and Rajasthan Royals.
  • Shreyas Iyer will join this elite list on March 25, 2025, when he leads Punjab Kings after previously captaining Delhi Capitals and Kolkata Knight Riders.

Source: N18

3. B Sumeeth Reddy Retires from Professional Badminton

• What:
  • Indian badminton player B Sumeeth Reddy announced his retirement from professional badminton to focus on coaching.
• Tell me more:
  • Reddy represented India at the Rio 2016 Olympics and won a silver medal in the mixed team event at the 2022 Commonwealth Games.
  • His singles career ended early due to spinal bone degeneration, leading him to switch to doubles on Pullela Gopichand’s advice.
  • He achieved a career-best men’s doubles rank of 17 in 2015 with Manu Attri and won titles like the Mexico City Grand Prix (2015) and Canada Open (2016).
  • Reddy co-founded the Sikki Sumeeth Badminton Academy in Hyderabad in 2021 and is now part of India’s national coaching setup for women’s doubles players.

Source: OC

Memorandum of Understanding

1. Astroscale Partners with Indian Startups for Space Debris Mitigation

• What:
  • Japanese firm Astroscale signed agreements with Bengaluru-based startups Digantara and Bellatrix Aerospace to collaborate on space debris mitigation technologies and services.
• Why:
  • The partnerships aim to address challenges of orbital debris and expand Astroscale’s operations in the Asia-Pacific region, including India.
• Tell me more:
  • Astroscale plans to begin operations in the Asia-Pacific region outside Japan within one to two years.
  • Bellatrix Aerospace has successfully space-qualified its Green Propulsion and Hall-Effect Thruster technologies.
  • Digantara focuses on space situational awareness and recently announced investments to expand into the United States.
  • The agreements will facilitate Bellatrix and Digantara’s entry into Japan while supporting Astroscale’s expansion in India.

Source: BW

2. Japanese Consortium to Develop Green Ammonia Project in Odisha

• What:
  • A consortium of Japanese companies signed an MoU to explore investment opportunities in a green ammonia production facility in Odisha, India, to produce 4 lakh tonnes annually by 2030.
• Why:
  • The project aims to supply green ammonia, a clean energy source, to Japan and contribute to carbon neutrality by reducing CO2 emissions.
• Tell me more:
  • The consortium includes IHI Corporation, Hokkaido Electric Power Co., Mitsubishi Gas Chemical Company, Mitsui O.S.K. Lines, Mizuho Bank, and Tokyo Century Corporation.
  • The facility will collaborate with India’s ACME Group, a renewable energy company.
  • Green ammonia will be transported safely to Japan for use by power generation companies and chemical manufacturers.
  • Ammonia is considered a next-generation clean energy source with applications in power plants and ships.

Source: HBL

3. SIDBI Signs MoUs to Support MSME Textile and Garment Industry

• What:
  • SIDBI signed MoUs with the Clothing Manufacturers’ Association of India (CMAI) and Sachin Industrial Co-operative Society (SICS) to provide financial and technical assistance to the MSME textile and garment sector.
• Why:
  • The initiative aims to facilitate access to collateral-free loans, government schemes, and support for modernization in the textile and garment industry.
• Tell me more:
  • Entrepreneurs can access direct loans without collateral or secure loans by depositing 25% of the total loan amount.
  • The Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme will increase collateral-free loan limits from ₹5 crore to ₹10 crore as per the last budget announcement.
  • Interest rates will range from 8.75% to 9.75%, depending on the credit rating of the unit, with loan processing completed in 30 to 45 days.
  • CMAI and SICS will set up SIDBI support centers to assist entrepreneurs with loan applications and processing.

Source: TOI

Appointments

1. Rajiv Gauba Appointed Full-Time Member of NITI Aayog

• What:
  • Former Cabinet Secretary Rajiv Gauba has been appointed as a full-time member of NITI Aayog, effective immediately.
• Tell me more:
  • He served as Cabinet Secretary from 2019 to August 2024, the highest bureaucratic post in India.
  • He has also held positions such as Union Home Secretary, Secretary in the Ministry of Urban Development, and Chief Secretary of Jharkhand.

Source: IT

Miscellaneous

1. Tamil Actor-Director Manoj Bharathiraja Passes Away

• Tamil actor-director Manoj Bharathiraja, son of filmmaker Bharathiraja, passed away on March 25 in Chennai at the age of 48 due to cardiac arrest.

Source: ET

2. India Post Releases Commemorative Stamp Honoring Mata Karma

• What:
  • India Post released a commemorative postage stamp to honor Mata Karma on her 1009th birth anniversary during an event in Raipur on March 25, 2025.
• Why:
  • The stamp was issued to recognize Mata Karma’s contributions to social harmony, women’s empowerment, and religious devotion.
• Tell me more:
  • The event was attended by Chhattisgarh Chief Minister Vishnu Deo Sai, Union Minister Tokhan Sahu, and members of Akhil Bhartiya Tailik Mahasabha.
  • Mata Karma, a devotee of Lord Krishna, introduced the tradition of offering khichdi at Jagannath Temple in Puri.
  • The stamp depicts Mata Karma presenting khichdi to Lord Krishna with the Jagannath Temple in the background.

Source: PIB

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