28th March 2025

1. IIM Mumbai & CAG India Signed MoU to strengthening economic governance and accountability
2. MoD signs contracts for procurement of HMV 6×6 Gun Towing Vehicles for IA
3. UN FAO Report at CGRFA-20: Global Crop Diversity Under Threat as Nine Crops Dominate Production
4. BoI & NIAL Announce Partnership to Enhance General Insurance Products
5. Bandhan Bank Signs MoU with IAF for Shaurya Salary Account
6. IRFC Signs Rs.5,000 Crore Loan Agreement with NTPC Renewable Energy
7. Union Minister Piyush Goyal Conferred National IP Awards 2024
8. Indian-origin Jay Bhattacharya Appointed as 18th Director of NIH
9. Sanjay Kumar Mishra appointed full-time EAC-PM member
10. DRDO & IN Successfully Conducted Flight-test of Indigenously Developed VL-SRSAM
11. GE Aerospace Delivers First F404-IN20 Engine to HAL for Tejas LCA-MK1A Fighter Jet
12. IN Launches 10th Ammunition Cum Torpedo Cum Missile Barge ‘LSAM 24 (Yard 134)’ in Maharashtra
13. AFA Partners with HSBC for 2025 Season in India and Singapore
14. World Theatre Day 2025 – March 27
15. Yaoshang Festival Celebrated in Manipur after a year
16. RBI Imposes Penalties on HDFC Bank, Punjab & Sind Bank, and KLM Axiva Finvest for Regulatory Non-Compliance
17. Rahul Bhave Appointed as MD & CEO of IFCI
18. West Bengal Police Launches Mobile App for Transparent Transfers
19. Chief of Naval Staff Admiral Dinesh K. Tripathi Inaugurates New North Jetty at Naval Base
20. Darjeeling’s Padmaja Naidu Himalayan Zoological Park Launches DNA Preservation Project
21. Haryana Launches AI Chatbot ‘Sarathi’ for Citizen Services
22. HDFC Bank Embassy Fixed Deposit: A Comprehensive Guide
23. CDSL Arm Centrico Insurance Repository Partners with LIC for Digital Insurance Services
24. ATM Withdrawals to Get Costlier from May 1 as RBI Approves Fee Hike
25. Reliance Acquires Nauyaan Tradings, Expands Shipyard Operations
26. India’s e retail market to reach $190 bn by GMV by 2030: Report
27. WHO released new guidance on mental health policy and strategic action plans
28. NHAI completes largest infrastructure investment trust

State News

1. Manipur Celebrates the Five-Day Yaoshang Festival 2025

• What:
  • The vibrant Yaoshang festival, also known as the Holi of Manipur, after a year-long pause due to unrest in the state.
• Why:
  • The festival symbolizes resilience, unity, and the celebration of Manipur’s cultural heritage.
• Tell me more:
  • Yaoshang is celebrated during the full moon of the Lamta month in the Manipuri lunar calendar, usually in March.
  • The festival includes traditional rituals, sports like Yubi Lakpi (similar to rugby), Manipuri dances, and playful water and colour fights.
  • It begins with the construction and burning of small thatch huts called “Yaoshang,” symbolizing cleansing and new beginnings.
  • The Indian Army’s Assam Rifles participated in the festival to promote harmony with local communities.

Source: ANI

2. West Bengal Police Launches Mobile App for Transparent Transfers

• What:
  • West Bengal Police launched a mobile app for police personnel to apply for transfers, ensuring transparency in the process.
• Why:
  • The app aims to eliminate corruption and favoritism in transfer postings by digitizing the application process.
• Tell me more:
  • Police personnel from constable to sub-inspector ranks can apply for transfers through the e-HRMS software until April 11.
  • Help desks will be set up in district police units to assist personnel with the application process.
  • The app was introduced following complaints of officers demanding money for transfer postings.

Source: IE

3. Haryana Launches AI-Powered Chatbot ‘Sarathi’ for Citizen Engagement

• What:
  • Haryana Chief Minister Nayab Singh Saini launched the AI-powered chatbot ‘Sarathi’ on the Chief Secretary’s office website to improve citizen engagement and access to government directives.
• Why:
  • The chatbot aims to bring transparency, accuracy, and reliability in accessing government documents and notifications.
• Tell me more:
  • ‘Sarathi’ processes information from over 17,820 official documents covering 73,622 scanned PDF pages, including directives, policies, notifications, and government orders.
  • Developed by HARTRON, the chatbot provides direct links to relevant documents for verification.
  • The Chief Minister emphasized timely implementation of projects outlined in the 2025–26 budget and improving healthcare facilities in district civil hospitals.
  • Initiatives include advancing the Ayushman scheme, repairing hospital equipment promptly, and enhancing the Beti Bachao-Beti Padhao campaign.

Source: BS

International News

1. WHO Launches New Guidance to Strengthen Mental Health Systems

• What:
  • The World Health Organization (WHO) launched new guidance to help countries reform and strengthen mental health policies and systems globally.
• Why:
  • The guidance aims to address gaps in mental health services, ensure accessibility, and align care with international human rights standards.
• Tell me more:
  • Up to 90% of people with severe mental health conditions in some countries receive no care due to underfunding and outdated models.
  • The framework focuses on protecting human rights, promoting holistic care, addressing social factors like employment and housing, and implementing prevention strategies.
  • It identifies five key areas for reform: leadership, service organization, workforce development, person-centered interventions, and addressing social determinants of mental health.
  • The guidance was developed in consultation with global experts and builds on WHO’s QualityRights initiative.

Source: WHO

Banking and Economy

1. Bank of India Partners with New India Assurance for Insurance Products

• What:
  • Bank of India and New India Assurance have formed a strategic partnership to offer general insurance products to the bank’s customers.
• Why:
  • The partnership aims to provide comprehensive insurance solutions under one roof and enhance insurance penetration among Bank of India customers.
• Tell me more:
  • Customers will access health, motor, personal accident, home, and commercial insurance products offered by New India Assurance.
  • Bank of India has over 5,200 branches across India, while New India Assurance has over 100 years of experience in the general insurance sector.
  • The partnership strengthens India’s bancassurance ecosystem.

Source: TW

2. Bandhan Bank Partners with Indian Air Force for Shaurya Salary Account

• What:
  • Bandhan Bank signed an MoU with the Indian Air Force to provide the Shaurya Salary Account, a corporate salary account designed for defence personnel.
• Why:
  • The partnership aims to offer exclusive banking benefits and personalized services to IAF personnel, enhancing their financial experience.
• Tell me more:
  • The Shaurya Salary Account offers benefits like a Zero Balance savings account, protection for self and family, and attractive interest rates.
  • Bandhan Bank operates through over 1,700 branches across India.
  • The bank also serves as a SPARSH Service Centre for Defence pensioners and families via 557 designated branches.
  • The MoU was signed by Air Vice Marshal Updesh Sharma and Debraj Saha in the presence of officials from IAF and Bandhan Bank.

Source: ET

3. IRFC Signs Rs 5,000 Crore Loan Agreement with NTPC REL

• What:
  • Indian Railway Finance Corporation (IRFC) signed a ₹5,000 crore rupee term loan agreement with NTPC Renewable Energy Limited (NTPC REL) to support capacity expansion and refinance existing debt.
• Why:
  • The loan aims to fund ongoing and new capacity expansion projects and refinance existing debt as approved by NTPC REL’s board.
• Tell me more:
  • NTPC Renewable Energy is raising funds to meet capital expenditure for capacity additions.
  • NTPC Green Energy received approval to start the final phase of the 320 MW Bhainsara Solar PV Project in Jaisalmer.

Source: ET

4. RBI Imposes Penalties on HDFC Bank, Punjab & Sind Bank, and KLM Axiva Finvest

• What:
  • RBI imposed a ₹75 lakh penalty on HDFC Bank, ₹68.20 lakh on Punjab & Sind Bank, and ₹10 lakh on KLM Axiva Finvest for non-compliance with regulatory directions.
• Why:
  • The penalties aim to ensure adherence to RBI’s regulatory guidelines and maintain the integrity of the financial system.
• Tell me more:
  • HDFC Bank failed to categorize customers into risk categories and allotted multiple customer identification codes instead of a Unique Customer Identification Code (UCIC).
  • Punjab & Sind Bank did not report certain borrowers with non-fund-based exposure of ₹5 crore or more to the Central Repository of Information on Large Credits (CRILC) and violated Basic Savings Bank Deposit Account (BSBDA) rules.
  • KLM Axiva Finvest declared dividends despite not meeting prudential requirements for three consecutive financial years as per scale-based regulations for NBFCs.

Source: ET

5. Centrico Insurance Repository Partners with LIC for Insurance Services

• What:
  • Centrico Insurance Repository, a subsidiary of Central Depository Services, signed an agreement with LIC to provide insurance repository services.
• Why:
  • The partnership aims to offer policyholders the facility to store insurance policies electronically and make changes easily.
• Tell me more:
  • Centrico is already partnered with 43 insurance companies, including 23 life insurers.
  • The insurance repository system was introduced by the regulator to enhance convenience and transparency for policyholders.
  • LIC is India’s largest life insurer, with a new business premium of ₹3.36 trillion in FY25.

Source: BS

6. RBI and NPCI Approve Hike in ATM Interchange Fees

• What:
  • RBI and NPCI approved a ₹2 increase in ATM interchange fees for cash withdrawals, effective from May 1, 2025.
• Why:
  • The fee hike aims to ensure business sustainability and support the maintenance and expansion of ATM networks.
• Tell me more:
  • The new interchange fee for domestic financial transactions is ₹19, and for non-financial transactions, it is ₹7.
  • These fees are subject to additional GST and exclude Micro-ATMs, interoperable cash deposits, and international ATM transactions.
  • India had 2,16,706 ATMs as of January 2025, with monthly ATM withdrawals averaging ₹1.43 crore during FY24.
  • Cash withdrawals have declined from over 57 crore transactions in January 2023 to 48.83 crore in January 2025.

Source: TOI

7. NHAI Completes India’s Largest Road Monetisation Bid

• What:
  • The National Highways Infra Trust (NHIT) completed India’s largest-ever road monetisation bid worth ₹18,380 crore in the roads sector.
• Why:
  • The monetisation aims to raise funds for acquiring highway stretches and support infrastructure development.
• Tell me more:
  • NHIT now holds a portfolio of 26 toll roads (41 toll plazas) spanning 2,345 km across 12 states, with concession periods of 20–30 years.
  • In this round, ₹8,340 crore was raised from domestic and international investors and ₹10,040 crore through debt from domestic lenders.
  • Employees’ Provident Fund Organisation (EPFO) made its first investment in NHIT with ₹2,035 crore.
  • The funds will be used to acquire highway stretches valued at ₹17,738 crore, including a premium of ₹97 crore.

Source: HT

8. India’s E-Retail Market to Reach $170–$190 Billion by 2030: Bain & Company

• What:
  • A report by Bain & Company and Flipkart projects India’s e-retail market to triple to $170–$190 billion in gross merchandise value (GMV) by 2030.
• Why:
  • The growth is driven by an expanding shopper base, newer business models, and increasing penetration in smaller cities.
• Tell me more:
  • India is the world’s second-largest e-retail shopper base, with over 270 million online shoppers in 2024.
  • The market, currently valued at $60 billion, slowed to 10–12% growth in 2024 but is expected to exceed 18% annual growth by 2030.
  • Categories like grocery, lifestyle, and general merchandise will contribute around 70% of incremental growth.
  • Quick commerce (Q-commerce) is growing at over 40% annually and accounts for 10% of overall e-retail GMV.
  • About 60% of new online customers since 2020 are from Tier-III and smaller cities.

Source: BS

Defence News

1. Defence Ministry Signs Contracts for Advanced Artillery Systems

• What:
  • The Ministry of Defence signed contracts with Bharat Forge and Tata Advanced Systems for the procurement of 155mm/52 Calibre Advanced Towed Artillery Gun Systems (ATAGS) and High Mobility Vehicle 6×6 Gun Towing Vehicles worth ₹6,900 crore.
• Why:
  • The procurement aims to modernize artillery regiments and enhance operational readiness of the Indian Army.
• Tell me more:
  • Total contracts worth ₹1.40 lakh crore have been signed by the Ministry of Defence for capital procurement in FY 2024-25.
  • The Project Director of ATAGS from DRDO’s Armament Research and Development Establishment, Pune, was felicitated for his contribution to the project.
  • ATAGS will replace vintage artillery guns and improve precision and long-range strike capabilities.
  • This marks the first major procurement of towed guns from the private sector by the Indian Army.

Source: BW

2. DRDO and Indian Navy Successfully Test VLSRSAM Missile

• What:
  • DRDO and the Indian Navy conducted a successful flight test of the Vertically-Launched Short-Range Surface-to-Air Missile (VLSRSAM) at Integrated Test Range, Chandipur, Odisha.
• Why:
  • The test aims to validate the missile’s agility, reliability, and accuracy for enhancing the Indian Navy’s combat capabilities.
• Tell me more:
  • The test was conducted using a land-based vertical launcher against a high-speed aerial target at close range and low altitude.
  • The missile destroyed the target with precision, showcasing its Near-Boundary-Low Altitude capability.
  • Key components like the indigenous Radio Frequency seeker, Multi-Function Radar, and Weapon Control System performed as expected.
  • Raksha Mantri Rajnath Singh praised the missile system as a force multiplier for the Navy and proof of India’s defence R&D capabilities.

Source: PIB

3. GE Aerospace Delivers First F404-IN20 Engine for Tejas Mk 1A

• What:
  • GE Aerospace delivered the first of 99 F404-IN20 engines to Hindustan Aeronautics Limited (HAL) for the Tejas Light Combat Aircraft Mk 1A.
• Why:
  • The delivery aims to strengthen India’s defence capabilities and enhance HAL’s production of next-generation fighter jets.
• Tell me more:
  • The F404-IN20 engine was selected for Tejas in 2004, following GE Aerospace’s collaboration with the Aeronautical Development Agency in the 1980s.
  • GE Aerospace has a four-decade-long partnership with HAL, contributing to India’s defence manufacturing ecosystem.
  • The engine delivery marks a milestone in efforts to develop advanced military jet propulsion systems.

Source: ET

4. Indian Navy Launches 10th ACTCM Barge LSAM 24 in Thane

• What:
  • The Indian Navy launched the 10th Ammunition Cum Torpedo Cum Missile Barge (ACTCM), LSAM 24, at M/s Suryadipta Projects Pvt Ltd, Thane, on March 26, 2025.
• Why:
  • The barge launch supports the Navy’s operational requirements and aligns with the Make in India and Aatmanirbhar Bharat initiatives.
• Tell me more:
  • The contract for constructing 11 ACTCM Barges was signed with M/s Suryadipta Projects Pvt Ltd.
  • These barges were indigenously designed in collaboration with an Indian Ship Design firm and certified by the Indian Register of Shipping (IRS).
  • Model testing was conducted at Naval Science and Technological Laboratory (NSTL), Visakhapatnam, to ensure seaworthiness.
  • Nine barges have already been delivered and are being used effectively by the Navy.

Source: PIB

5. Naval Chief Inaugurates New North Jetty at Kochi Naval Base

• What:
  • Chief of Naval Staff Admiral Dinesh K Tripathi inaugurated the New North Jetty at the Naval Base in Kochi, Kerala, designed to berth various classes of naval ships and auxiliary vessels.
• Why:
  • The jetty enhances operational flexibility and strengthens India’s maritime capabilities while showcasing indigenous engineering excellence.
• Tell me more:
  • The jetty is 300 meters long and 18 meters wide.
  • It supports efficient turnaround of major naval combatants and auxiliary vessels.
  • Admiral Tripathi emphasized the role of veterans in shaping the Indian Navy’s operational preparedness and maritime excellence.
  • Distinguished veterans, including Major General M Kesavan (Retd) and Cdr Idiculla Jose (Retd), were felicitated for their contributions.

Source: BS

Science and Technology

1. Padmaja Naidu Himalayan Zoological Park Preserves DNA of Snowy Region Wildlife

• What:
  • Padmaja Naidu Himalayan Zoological Park in Darjeeling became India’s first zoo to preserve DNA samples of wildlife found exclusively in snowy regions.
• Why:
  • The initiative aims to aid research and conservation efforts in case of extinction threats to these species.
• Tell me more:
  • The zoo has collected 60 DNA samples from animals like red pandas and snow leopards, including tissues from animals killed in road accidents or captivity.
  • Cryogenic conservation is being conducted in collaboration with the Centre for Cellular and Molecular Biology, Hyderabad.
  • A dedicated laboratory stores DNA samples in steel containers filled with liquid nitrogen at freezing temperatures.
  • The project started in 2023 and is ongoing.

Source: TP

Agriculture and Rural Development

1. FAO’s Report ‘State of the World’s Plant Genetic Resources for Food and Agriculture’

• What:
  • The FAO’s Third Report on the State of the World’s Plant Genetic Resources for Food and Agriculture revealed that 60% of global crop production depends on just nine crops, posing a threat to plant genetic diversity.
• Why:
  • The report aims to highlight the need for conservation efforts to prevent genetic erosion and ensure food security.
• Tell me more:
  • The nine crops include sugarcane, maize, rice, wheat, potatoes, soybeans, oil palm fruit, sugar beet, and cassava.
  • Surveys showed that 6% of farmers’ varieties/landraces globally are threatened, with southern Africa having the highest percentage of threatened diversity.
  • Southern Asia and Australia/New Zealand reported the least threatened diversity.
  • India’s documented farmers’ varieties/landraces across five agroecological zones were found to be more than 50% threatened.
  • Ex situ conservation faces challenges like limited funding, infrastructure, and qualified staff in many countries.
  • India’s seed hub project initiated in 2016 increased pulse production from 14.76 million tonnes in 2007–08 to 24.42 million tonnes in 2020–21.
  • Erratic extreme weather events due to climate change threaten crop diversity globally.
  • Many countries lack assessments of disaster impacts on crop diversity and face challenges in providing locally adapted germplasm after emergencies.

Source: DTE

Awards

1. National Intellectual Property Awards 2024

• What:
  • Union Minister Piyush Goyal presented the National Intellectual Property Awards 2024 at Bharat Mandapam, New Delhi, emphasizing innovation as key to India’s development.
• Why:
  • The awards aim to recognize outstanding contributions to IP creation and commercialization, strengthening India’s IP ecosystem and encouraging effective portfolio management across industries.
• Tell me more:
  • Goyal highlighted India’s improved ranking in the Global Innovation Index from 81 in 2015 to 39.
  • India is now the sixth-largest trademark filer globally, with nearly 100,000 patent grants last year.
  • The government has reduced fees by 80% for women entrepreneurs, startups, and MSMEs.
  • A new IP office in Dwarka will enhance efficiency with over 750 officers.
  • The awards were presented across 13 categories and linked with the World Intellectual Property Organization (WIPO) Awards.

• Special citations were also awarded in the following four categories:

• A Letter of Appreciation, as recommended by the Award Jury, was also presented in the following categories:

• Linking of National IP Awards with WIPO Awards:

Source: PIB

Important Days

1. World Theatre Day – March 27

• What:
  • World Theatre Day was celebrated on March 27, 2025, to highlight the importance of theatre as an art form and its role in societal change.
• Why:
  • The day aims to promote theatre, inspire support for the theatre community, and encourage its use as a medium for education and cultural expression.
• Tell me more:
  • World Theatre Day was initiated by the International Theatre Institute (ITI) in 1961.
  • The date marks the opening of the “Theatre of Nations” season in Paris in 1962.

Source: IE

Sports

1. Argentina Football Association and HSBC Announce Partnership for India and Singapore

• What:
  • The Argentine Football Association (AFA) and HSBC signed a one-year partnership for India and Singapore, covering the 2025 competitive season.
• Why:
  • The collaboration aims to support the Argentine team’s journey towards the 2026 World Cup and create unique experiences for fans and customers.
• Tell me more:
  • Under this partnership, the Argentina national football team, including Lionel Messi, will visit India for an exhibition match in October 2025.
  • AFA has opened commercial offices in India since 2021 to identify opportunities and strengthen ties with the Indian community.
  • HSBC plans to create marketing campaigns with AFA to increase brand synergy in India.

Source: ANI

Memorandum of Understanding

1. CAG Partners with IIM Mumbai for Public Sector Audit Enhancement

• What:
  • The Comptroller and Auditor General (CAG) of India signed an MoU with IIM Mumbai to improve audit capabilities in public sector logistics, supply chain, and inventory management.
• Why:
  • The collaboration aims to enhance efficiency, transparency, and accountability in managing public sector logistics and resources.
• Tell me more:
  • The MoU was signed by CAG Sanjay Murthy and IIM Mumbai Director Manoj Tiwari.
  • IIM Mumbai will provide research, advisory services, and specialized training to refine audit methodologies.
  • A customized training course for 45 CAG officials is scheduled for the third week of April to equip them with skills for auditing logistics and supply chain operations.

Source: TOI

Appointments

1. Jay Bhattacharya Confirmed as Director of US National Institutes of Health (NIH)

• What:
  • The US Senate confirmed Indian-origin scientist Jay Bhattacharya as the new Director of the National Institutes of Health (NIH).
• Tell me more:
  • Bhattacharya is a professor at Stanford University, holding MD and PhD degrees, and directs Stanford’s Center on the Demography and Economics of Health and Aging.

Source: IE

2. Sanjay Kumar Mishra Appointed Member of PM’s Economic Advisory Council

• What:
  • Former ED chief Sanjay Kumar Mishra was appointed as a full-time member of the Economic Advisory Council to the Prime Minister.
• Tell me more:
  • The Economic Advisory Council is an independent body tasked with advising the Prime Minister on economic matters.
  • The Economic Advisory Council addresses macroeconomic issues and provides views to the Prime Minister.
  • The Prevention of Money Laundering Act amendments granted extraordinary powers to the ED during Mishra’s tenure.
  • Mishra’s tenure at ED was the second-longest in its history.

Source: TW

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