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CURRENT AFFAIRS: BANKING & FINANCE

ICICI Prudential Life launches income guarantee product in volatile times

• ICICI Prudential Life Insurance has introduced ‘ICICI Pru GIFT Select’, a long-term savings product that offers guaranteed immediate income for liquidity.
• The product provides flexibility in choosing the start time, duration, and maturity amount of the guaranteed income.
• It includes a life cover component to ensure financial security for the family.
• A unique feature is the increasing income option, where income grows at a compounding rate of 5% per annum, acting as an inflation hedge.
• Amit Palta, Chief Product and Distribution Officer, stated that the product allows customers to customize guaranteed income based on their life goals and cash flow needs.
• In a volatile macroeconomic environment, customers prefer guaranteed returns and wealth preservation.
• ICICI Pru GIFT Select helps customers protect their financial savings from market fluctuations while achieving their financial goals.
• The company has a claim settlement ratio of 99.3% in nine months of FY’25, with an average settlement time of 1.2 days for non-investigated claims.

About ICICI Prudential Life Insurance:

• Headquarters: Mumbai, Maharashtra, India
• CEO: Anup Bagchi
• Subsidiaries: ICICI Prudential Pension Funds Management Company Limited
• Key Products: Life Insurance, Health Insurance, Pension Plans, Unit-Linked Insurance Plans (ULIPs), Term Insurance, Child Plans, Retirement Plans, Critical Illness Plans

Poonawalla Fincorp launches 24/7 digital personal loan product

• Poonawalla Fincorp, a Cyrus Poonawalla Group NBFC focused on Consumer & MSME Lending, has launched PL Prime Digital 24×7, an industry-first fully digital personal loan for salaried professionals.
• The loan offers instant access to credit with approvals in just 15 minutes, up to ₹15 lakh, through a completely paperless process.
• Key features include:
  • 24×7 availability via mobile app, website, and authorized partners.
  • Zero collateral requirement.
  • Flexible EMI tenures.
• The personal loan segment in India has grown 27% year-on-year, highlighting the increasing reliance on unsecured credit.
• Poonawalla Fincorp continues its risk-averse lending approach by calibrating pricing based on risk while leveraging disruptive technology to enhance customer experience.
• This launch further strengthens the company’s PL Prime Business segment, recently introduced to expand its lending portfolio.

About Poonawalla Fincorp:

• Headquarters: Pune, Maharashtra
• Parent Organization: Rising Sun Holdings Pvt Ltd
• Founded: 1988
• Chairman: Adar Poonawalla
• Managing Director & CEO: Arvind Kapil

Paytm Ties Up With RBL Bank To Boost Digital Adoption Among Lender's Merchant Partners

• Paytm has partnered with RBL Bank to boost digital payment adoption among the bank's merchant partners.
• As part of the initiative, Paytm will provide Soundbox and card machines to RBL Bank’s merchants for seamless and efficient transactions.
• Key benefits for merchants:
  • Real-time transaction tracking via Paytm for Business dashboard.
  • Support for multiple payment modes, including UPI, RuPay credit card on UPI, UPI Lite, debit & credit cards, and EMI options.
  • Secure and reliable payment solutions powered by Paytm’s technology.
• Innovations by Paytm:
  • Paytm Soundbox revolutionized in-store payments with instant audio confirmations.
  • NFC Card Soundbox enables ‘Tap and Pay’ transactions for debit and credit cards, including payments from international tourists.
  • Multilingual audio alerts in 11 languages, enhancing merchant convenience.
  • Paytm’s card machines (EDC devices) support secure and efficient digital transactions, offering low and zero-cost EMI options via 17 partner banks.
• The collaboration reduces cash dependency and empowers merchants with cutting-edge digital payment solutions.

About Paytm:

• Headquarters: Noida, Uttar Pradesh, India
• Founded: 2010
• Chairman & CEO: Vijay Shekhar Sharma
• Subsidiaries: Paytm Payments Bank, Paytm Mall, Paytm Cloud Technologies
• Key Products: Paytm App, Paytm Wallet, Paytm Payments Bank, Paytm Mall

About RBL Bank (Ratnakar Bank Limited):

• Founded: 1943
• Headquarters: Mumbai, Maharashtra, India
• MD & CEO: R Subramaniakumar
• Tagline: "Apno Ka Bank"

Credit Rating Information Services of India Limited (CRISIL) projects FY26 GDP growth to be steady at 6.5%

• India’s economic growth is likely to be steady at 6.5% in FY26, CRISIL (Credit Rating Information Services of India Limited) stated in a report 
• Growth will be supported by a normal monsoon, lower commodity prices, and a recovery in private consumption.
• Private Final Consumption Expenditure (PFCE) is expected to grow 7.6% in FY25, driving overall economic expansion.
• Government Final Consumption Expenditure (GFCE) and Gross Fixed Capital Formation (GFCF) are expected to grow at 3.8% and 6.1%, respectively.
• Private capex remains crucial for sustaining investment growth as the government moderates capital expenditure to meet its fiscal deficit
• The RBI is expected to cut the repo rate by 50-75 bps in FY26, easing borrowing costs.
• Recent liquidity-easing measures and relaxed NBFC regulations are expected to transmit the benefits of an accommodative monetary policy to the economy.
• Tax benefits announced in Union Budget 2025-26 and higher allocations to asset-building and employment schemes are expected to boost private consumption.
• The US-led tariff war and potential trade restrictions pose downside risks to India’s economic outlook.
• Global economic conditions and geopolitical developments could impact domestic growth momentum.
• While India’s economic growth remains steady at 6.5%, sustaining private investment and managing global trade risks will be critical for long-term expansion.

About CRISIL:

• Founded: 1987
• Headquarters: Mumbai, Maharashtra, India
• Operations: Credit Ratings, Risk & Policy Advisory, Research & Analytics
• MD & CEO: Amish Mehta
• Parent Company: S&P Global

Canara Bank Launches ‘Canara Crest Program’ for Premium Banking Experience

• Canara Crest is an exclusive premium banking membership program designed to provide a combination of personalized banking services and luxury lifestyle benefits.
• It offers access to priority service lounges, bespoke debit and credit cards, airport lounge access, dining rewards, luxury hotel stays, unlimited fitness memberships, and more.

Key highlights

Membership Tiers

• Crest: Quarterly Average Balance (QAB) of 10 lakhs to Rs. 50 lakhs.
• Crest Plus: QAB of 50 lakhs and above.
• Available through invitation or by opening a Canara Crest Savings Account.

Eligibility

• Individuals only (Joint accounts not eligible).
• Age: 18 years and above.
• Savings Account Holders with a minimum account age of one year.

Banking Benefits

• Priority Banking Services across all branches.
• Zero Fee Banking on 25+ services.
• 24/7 Dedicated Customer Support (18001030).
• Dedicated Relationship Manager.
• Cheque Withdrawal Limit increased to Rs.5 lakhs.

About Canara Bank:

• Founded: 1906
• Headquarters: Bengaluru, Karnataka, India
• Managing Director & CEO: K. Satyanarayana Raju
• Tagline: "Together We Can"

CURRENT AFFAIRS: NATIONAL NEWS

India Inaugurates First World Peace Center in Gurugram, Haryana

• India has taken a major step towards global peace and harmony with the inauguration of its first World Peace Center in Gurugram, Haryana.
• Established by Ahimsa Vishwa Bharti under the guidance of Jain Acharya Lokesh, the center aims to promote non-violence, spiritual awareness, human values, and universal brotherhood.

Grand Inauguration Ceremony

The event witnessed the presence of prominent leaders and spiritual figures, including:

• Former President Ram Nath Kovind
• Punjab Governor Gulab Chand Kataria
• Bihar Governor Arif Mohammad Khan
• Haryana Chief Minister Nayab Singh Saini
• Spiritual leaders: Shri Shri Ravi Shankar, Morari Bapu, and Govinddev Giri
• Swami Ramdev (joined virtually)

Key Objectives of the World Peace Center

1. Promoting Non-Violence and Peace – Spreading the message of ahimsa (non-violence) and encouraging peaceful practices in daily life.
2. Spiritual and Moral Upliftment – Conducting discourses, workshops, and meditation sessions to enhance spiritual and moral consciousness.
3. Global Harmony and Vasudhaiva Kutumbakam – Advocating the concept of "The World is One Family" to foster global unity.
4. Environmental and Ethical Awareness – Addressing climate change, ethical leadership, and social responsibility.

RECENT NEWS

• In Feb 2025, In a major move to strengthen the criminal justice system, the Haryana government, led by Chief Minister Nayab Singh Saini, launched the Haryana Witness Protection Scheme, 2025.
• In Feb 2025, the Haryana government launched the ‘Har Khet-Swasth Khet’ campaign to improve soil health and ensure sustainable farming practices.
• The International Saraswati Mahotsav 2025 is set to be celebrated on a grand scale in Haryana, following the success of Geeta Jayanti celebrations.

Indian National Centre for Ocean Information Services to Launch Two New Services on 26th Foundation Day

• The Indian National Centre for Ocean Information Services (INCOIS), an autonomous body under the Ministry of Earth Sciences (MoES), will launch two new services to mark its 26th Foundation Day.

Key highlights

New Services Launched

• Hilsa Fishery Advisory (HiFA) Services – Aimed at supporting fisheries by providing advisories for Hilsa fishing.
• INCOIS Global Ocean Reanalysis (IGORA) Version 1 – A new ocean reanalysis system designed for global ocean studies.
• The new services will be inaugurated by CSIR Director General N. Kalaiselvi during the Foundation Day celebrations.

To enhance scientific and academic cooperation, INCOIS will sign Memorandums of Understanding (MoUs) with key institutions, including:

• CSIR-Centre for Cellular & Molecular Biology (CCMB)
• Directorate General of Shipping (DGS)
• ICAR – Central Institute of Fisheries Education (CIFE)
• Additionally, a Letter of Intent (LoI) will be exchanged with the Coalition for Disaster Resilient Infrastructure (CDRI).
• These collaborations aim to facilitate:
• Joint research and scientific projects
• Academic initiatives
• Outreach programs at national and international levels

CURRENT AFFAIRS: INTERNATIONAL NEWS

Guinea Eliminates Human African Trypanosomiasis as Public Health Problem

• The World Health Organization (WHO) has congratulated Guinea for eliminating the gambiense form of human African trypanosomiasis (HAT) as a public health problem.
• This marks a significant achievement, especially as it is the first neglected tropical disease to be eliminated in the country. The announcement comes ahead of World Neglected Tropical Diseases Day on 30 January.

Key highlights

• Human African trypanosomiasis(HAT), commonly known as sleeping sickness, is a vector-borne parasitic disease caused by infected tsetse flies. Symptoms include:
• Fever
• Headaches
• Joint pain
• In advanced stages: confusion, disrupted sleep patterns, and behavioural changes.
• Guinea joins seven other countries validated by WHO for eliminating the gambiense form of HAT:
• Togo (2020)
• Benin (2021)
• Côte d’Ivoire (2021)
• Uganda (2022)
• Equatorial Guinea (2022)
• Ghana (2023)
• Chad (2024)
• The rhodesiense form of the disease has been eliminated only in Rwanda (2022).
• This achievement highlights Guinea's efforts in combating neglected tropical diseases (NTDs) and improving public health outcomes.

About WHO (World Health Organization):

• Founded: 7 April 1948
• Headquarters: Geneva, Switzerland
• Parent Organization: United Nations (UN)
• Director-General: Tedros Adhanom Ghebreyesus

About Guinea:

• Capital: Conakry
• Currency: Guinean Franc (GNF)

India Secures Place on UN’s Honour Roll for Timely Budget Payment

• India paid USD 32.895 million to the UN Regular Budget, securing a place on the UN Honour Roll.
• This recognition is awarded to nations that pay their assessed contributions in full within 30 days of receiving the UN’s payment notice.

Key highlights

• India was among only 36 nations that met the Honour Roll criteria as of the deadline. Stephane Dujarric, spokesperson for UN Secretary-General Antonio Guterres.

India’s Consistent Financial Support

• In 2023, India contributed USD 30.54 million, securing a place on the Honour Roll that year as well.
• India has consistently fulfilled its financial obligations to the UN, reflecting its commitment to a rules-based global order.

India’s contributions support key UN initiatives, including:

• Peacekeeping missions in conflict zones
• Humanitarian aid for crisis-affected regions
• Sustainable development programs to reduce poverty and improve global health
• Beyond financial contributions, India has actively engaged in UN peacekeeping, climate action, and sustainable development.
• The timely budget payment reinforces India’s credibility as a responsible global player and strengthens its case for a permanent seat on the UN Security Council (UNSC).

About the United Nations (UN):

• Founded: 24 October 1945
• Headquarters: New York City, USA
• Secretary-General: António Guterres

CURRENT AFFAIRS: STATE NEWS

Bihar government tables Rs 3.17 trillion Budget, proposes women-centric schemes

• The Nitish Kumar government in Bihar tabled the ₹3.17 trillion Budget for 2025-26, focusing on women-centric schemes and job creation.
• Deputy Chief Minister Samrat Choudhary, who holds the finance portfolio, stated that the Budget was ₹38,169 crore higher than the previous year.

Key Allocations:

• ₹60,964 crore for the education sector (up from ₹54,605 crore in 2024-25).
• Women’s empowerment initiatives:
  • "Mahila Haat" (women’s marketplace) in Patna.
  • "Pink toilets" in all districts.
  • "Pink buses" (with women drivers and conductors) in major cities.
  • 33% reservation for women in the state transport corporation.
  • "Kanya Vivah Mandaps" in all panchayats to support poor rural families.
• With Bihar Assembly elections scheduled for October-November, women’s voter participation is crucial.
• In the 2020 elections, women's turnout (59.7%) was higher than men’s (54.6%).
• A CSDS-Lokniti survey found that NDA’s victory was due to strong support from women, especially in the 18-39 age group.

About Bihar:

• Capital: Patna
  • Chief Minister: Nitish Kumar
  • Governor: Arif Mohammed Khan
• National Parks: Valmiki National Park
  • Wildlife Sanctuaries: Valmiki Wildlife Sanctuary, Bhimbandh Wildlife Sanctuary, Kanwar Lake Bird Sanctuary, Udaypur Wildlife Sanctuary, Gautam Buddha Wildlife Sanctuary, Kaimur Wildlife Sanctuary

Jharkhand government tables Rs 1.45 lakh crore budget for FY 2025-26, freebies get highest allocation

• Finance Minister Radha Krishna Kishore tabled the annual Budget of Rs 1, 45,400 crore for FY 2025-26 in the Jharkhand Assembly, an increase of about 13 per cent than last year.

Key Allocations:

• Jharkhand Mukhyamantri Maiyan Samman Yojana (JMMSY): ₹13,363 crore (9.19% of total budget)
  • Provides ₹2,500/month to women aged 18-49.
• Free Electricity Scheme: ₹5,006 crore (3.44% of total budget)
• Total "Freebies" (JMMSY + Free Electricity): ₹18,369 crore (12.63% of total budget)

Sectoral Allocations (Comparison with Freebies):

• Rural Development: ₹16,564 crore (11.39%)
• Health & Drinking Water: ₹12,175 crore (8.38%)
• Agriculture & Allied (incl. Water Resources): ₹6,841 crore (4.71%)
• Roads & Transport: ₹6,203 crore (4.27%)
• Police & Disaster Management: ₹9,920 crore (6.82%)
• Other Sectors (Land Revenue, Labour, Tourism, IT, etc.): ₹9,920 crore (6.82%)

Economic Outlook:

• Projected GSDP Growth:5% in FY 2025-26
• Fiscal Deficit: ₹11,253 crore

Comparison with Previous Year (FY 2024-25):

• Previous Budget: ₹1.28 lakh crore
• Increase in Social Sector Allocation: ₹62,844 crore in FY 2025-26

Government’s Focus:

• Shift from infrastructure development to social sector schemes
• Financial and social empowerment of women
• Inclusive development, benefiting poor, farmers, tribals, and women

About Jharkhand:

• Capital: Ranchi
  • Chief Minister: Hemant Soren
  • Governor: Santosh Gangwar
  • National Parks: Betla National Park
  • Wildlife Sanctuaries: Palamau Wildlife Sanctuary, Hazaribagh Wildlife Sanctuary, Dalma Wildlife Sanctuary, Koderma Wildlife Sanctuary, Mahuadanr Wolf Sanctuary, Topchanchi Wildlife Sanctuary

Mizoram Launches Voluntary Pension Scheme to Tackle ‘Proxies’ Menace

• The Mizoram government has introduced the Special Voluntary Retirement Scheme across the state.
• Under this scheme, any employee unable to perform official duties due to health, domestic, or other debilitating issues can apply for voluntary pension.
• This scheme covers all regular government employees governed by CCS (Pension) Rules, 1972, who have not completed 20 years of service.
• Additionally, employees under the Mizoram New Defined Contributory System, 2010 are also eligible.
• According to Mizoram CM Lalduhoma, this scheme provides affected employees with an honourable exit while addressing the widespread issue of government employees hiring proxies.
• Current data shows that 3,365 government employees across 44 departments had engaged proxies as substitutes.
• Of these, over 2,000 employees cited health reasons, while 703 employees were affected by domestic issues.
• In June 2024, the government ordered all proxy-hiring employees to report to their assigned posts within 45 days.
• After confirming compliance, the scheme was officially notified.

Recent News:

• Mizoram Foundation Day is observed annually on February 20 to commemorate the northeastern state’s attainment of statehood in 1987.

About Mizoram:

• Capital: Aizawl
• Chief Minister: Lalduhoma
• Governor: Vijay Kumar Singh
• National Parks: Murlen National Park
• Wildlife Sanctuaries: Dampa Wildlife Sanctuary, Ngengpui Wildlife Sanctuary, Tawi Wildlife Sanctuary, Lengteng Wildlife Sanctuary, Thorangtlang Wildlife Sanctuary

CURRENT AFFAIRS: AWARDS AND HONOURS

Forbes India Leadership Awards (FILA) 2025: Honoring Visionary Leadership and Innovation

• The Forbes India Leadership Awards (FILA) 2025 concluded with a grand ceremony at the Jio World Convention Centre in Mumbai, celebrating India’s corporate and entrepreneurial leaders.
• The prestigious event recognized outstanding contributions in business, innovation, and leadership, highlighting individuals and organizations that have shaped India’s economic and social landscape.
• Hosted by Forbes India, the event brought together top industry leaders, entrepreneurs, and philanthropists, honoring their transformative impact.

Recognizing Breakthrough Innovations and Achievements

Emerging Innovator Award: BugWorks Research

• BugWorks Research was awarded for its groundbreaking work in biotechnology.
• The leadership team, Anand Anandkumar, Dr. V. Balasubramanium, and Dr. Santanu Datta, emphasized that innovation is about creating real-world impact, not just discovery.

Outstanding Startup Award: BrowserStack

• BrowserStack, one of the fastest-growing tech startups, was honored for revolutionizing software testing solutions.
• Founders Ritesh Arora and Nakul Aggarwal highlighted that their platform powers half the world’s airlines, banks, and tech firms.

Icons of Excellence: Ajay Singh and Katrina Kaif

• Ajay Singh, Chairman & MD of SpiceJet, was recognized for his contribution to the aviation sector, reflecting on the airline’s journey against all odds.
• Katrina Kaif, co-founder of Kay Beauty, was honored for entrepreneurship in the beauty industry, promoting inclusivity and self-expression in cosmetics.

Final Set of Awards: Celebrating Leadership Across Sectors

Award Category	Winner	Key Contribution
Emerging Innovator Award	BugWorks Research	Innovation in biotechnology
Outstanding Startup Award	BrowserStack	Revolutionizing software testing solutions
Icons of Excellence	Ajay Singh (SpiceJet)	Leadership in aviation sector
	Katrina Kaif (Kay Beauty)	Entrepreneurship in beauty industry
	Jay Shah (ICC)	Contributions to global cricket governance
	Shyam Srinivasan (Federal Bank)	Leadership in the financial sector
	Mohit Joshi (Tech Mahindra)	Driving technological transformation
Promising Startup	Minimalist	Transparent and effective skincare solutions
Regional Goliath	MTR Foods	Authentic Indian cuisine and quality commitment
Grassroots Philanthropists	Rizwan & Rekha Koita (Koita Foundation)	Social impact in healthcare and education
Climate Warrior	Indra Water	Sustainable water treatment solutions
Turnaround Star	Indian Hotels Co. Ltd. (IHCL)	Revitalization of hospitality and service excellence
Next-Gen Entrepreneur	Varun Jaipuria (Varun Beverages)	Expansion in the beverage sector
Institution Builder	Ashish Dhawan (Central Square Foundation)	Contributions to education reform and policy-making
Entrepreneur of the Year	Supam Maheshwari (FirstCry)	Leadership in baby and kids’ retail market
CEO of the Year	Rajesh Jejurikar (Mahindra & Mahindra)	Innovation in the automobile sector and business expansion

CURRENT AFFAIRS: MOUS AND AGREEMENT

Indian Institute of Foreign Trade Signs Memorandum of Understanding with APEC Antwerp to Strengthen Trade and Logistics Education

• The Indian Institute of Foreign Trade (IIFT) has signed a Memorandum of Understanding (MoU) with APEC – Antwerp/Flanders Port Training Center, Belgium, marking a significant step toward advancing academic collaboration in international trade, logistics, and supply chain management.

Key Objectives of the MoU

This agreement aims to enhance trade education and industry training between India and Belgium through:

• Faculty and student exchanges for cross-cultural business learning.
• Joint research on port management, global logistics, and trade facilitation.
• Specialized training programs, workshops, and industry interactions.
• Knowledge sharing in critical areas like e-governance, digital trade, and emerging business technologies.

Dignitaries Present at the Signing Ceremony

Indian Delegation

• Shri Jitin Prasada, Minister of State for Commerce & Industry
• Ajay Bhadoo, Additional Secretary, Ministry of Commerce & Industry
• Rakesh Mohan Joshi, Vice Chancellor, IIFT
• Senior faculty and distinguished IIFT alumni

Belgian Delegation

• His Excellency Matthias Diependaele, Minister-President of the Flemish Government
• Jacques Vandermeiren, CEO, Port of Antwerp-Bruges
• Dirk De Fauw, President, Port of Antwerp-Bruges International
• Kristof Waterschoot, Managing Director, Port of Antwerp-Bruges International

Building on a Strong Relationship Since 2019

• The IIFT-Port of Antwerp collaboration began in 2019, with 206 students visiting the port for firsthand learning.
• These port visits are now an integral part of IIFT’s curriculum, offering insights into:
  • Supply chain efficiencies
  • Customs regulations
  • Global trade operations

Commitment to Future Collaboration

The event concluded with a commitment from IIFT and APEC Antwerp to:

• Implement the objectives outlined in the MoU.
• Strengthen academic and industry partnerships in international trade and logistics.

About IIFT

• Established in 1963, IIFT is an autonomous body under the Ministry of Commerce and a Deemed University. It is one of India’s premier institutions in foreign trade education, research, and training.

About APEC – Antwerp/Flanders Port Training Center

• APEC, affiliated with the Port of Antwerp-Bruges, is a leading training institute specializing in port management, trade facilitation, and logistics, contributing to global capacity building in maritime and trade sectors.

India and Nepal Sign MoU to Strengthen Cooperation in Water, Sanitation, and Hygiene Sector

• The Government of India and the Government of Nepal have signed a Memorandum of Understanding (MoU) to enhance cooperation in the Water, Sanitation, and Hygiene (WASH) sector, including waste management.
• The signing ceremony took place at Sushma Swaraj Bhawan, New Delhi, in the presence of:
• Shri C R Patil, Union Minister of Jal Shakti, Government of India
• Shri Pradeep Yadav, Hon’ble Minister of Water Supply, Government of Nepal

Key Objectives of the MoU

• This agreement aims to strengthen intergovernmental collaboration and improve access to clean drinking water and sanitation in both nations. Dignitaries in Attendance

The event was attended by senior officials from both nations, including:

• H.E. Mr. Naveen Srivastava, Ambassador of India to Nepal
• H.E. Dr. Shankar Prasad Sharma, Ambassador of Nepal to India
• Ms. Debashree Mukherjee, Secretary, Ministry of Jal Shakti, Government of India
• Mr. Ashok Kumar Meena, Secretary, Ministry of Water Supply, Government of Nepal
• Other distinguished delegates and officials

A New Chapter in India-Nepal Partnership

This MoU marks an important milestone in India-Nepal relations, ensuring joint efforts for:

• Sustainable water management
• Improved sanitation facilities
• Better public health outcomes

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Uruguay’s new leftist President Yamandú Orsi takes office

• Yamandu Orsi was sworn in as Uruguay’s president on March 1, 2025, for a five-year term.
• He is from the left-wing coalition Broad Front and won the election by defeating center-right rival Alvaro Delgado in a closely contested race.
• Born in June 1967, Orsi previously worked as a school history teacher before becoming active in local politics.
• He later served as the mayor of Canelones, Uruguay’s second-most populous department.
• The swearing-in ceremony took place in Parliament and Independence Square in Montevideo.
• Carolina Cosse was sworn in as vice president.
• Orsi received the presidential sash from outgoing President Luis Lacalle Pou.
• He delivered speeches in Parliament and Independence Square to mark the occasion.

About Uruguay:

• Capital: Montevideo​
• Currency: Uruguayan Peso (UYU)​
• President: Yamandú Orsi (since March 1, 2025) ​

RBL Bank appoints Agrawal as president of branch banking, Pari as Chief Operations Officer

• RBL Bank has appointed Narendra Agrawal as President & Head of Branch Banking and Retail Liabilities and T S Pari as Chief Operations Officer (COO).
• Narendra Agrawal brings over 25 years of experience in deposits, lending, distribution, and payments.
• His focus will be on deposit growth, enhancing customer experience through an omnichannel strategy, and aligning with the bank’s long-term growth plan.
• T S Pari, with 25+ years of leadership experience in foreign and private sector banks, will oversee efficiency, customer-centric operations, and risk management.
• Pari will report to Alok Rastogi, Head of Corporate Centre, who continues to lead the bank’s operations, customer service, and corporate centre functions, with an expanded role in cost optimisation, process simplification, and control strengthening.

EaseMyTrip Chief Executive Officer Rikant Pittie Appointed Confederation of Indian Industry (CII) Delhi Chairman For 2025-26

• Rikant Pittie, CEO & Co-founder of EaseMyTrip, has been appointed as Chairman of the Confederation of Indian Industry (CII) Delhi State for 2025-26.
• This marks the first time a unicorn co-founder has been given this position.
• He takes over from Jaideep Ahuja, Managing Director of Ahuja Residences.
• As Chairman, Pittie will focus on business growth, policy advocacy, digital transformation, and strengthening industry-government collaboration.
• He also aims to enhance Delhi's tourism sector through large-scale initiatives, positioning the city as a global tourism and cultural hub.

CURRENT AFFAIRS: DEFENCE

Defence Secretary presents report of the Empowered Committee to Raksha Mantri for Capability Enhancement of Indian Air Force (IAF)

• Defence Secretary Shri Rajesh Kumar Singh presented the report of the Empowered Committee for Capability Enhancement of the Indian Air Force (IAF) to Raksha Mantri Shri Rajnath Singh in New Delhi on March 03, 2025.
• The Committee identified key thrust areas and made recommendations for short, medium, and long-term implementation to achieve the IAF's capability enhancement goals in an optimal manner.
• The report emphasizes the need to enhance ‘Aatmanirbharta’ in the Aerospace domain, with private sector participation complementing the efforts of DPSUs and DRDO.
• Raksha Mantri appreciated the Committee's work and directed that the recommendations be implemented within a time-bound framework.
• The Committee was constituted on Raksha Mantri's directions to holistically examine key issues and prepare a clear action plan.
• It was chaired by the Defence Secretary and included:
• Vice Chief of Air Staff
• Secretary (Defence Production)
• Secretary, Department of Defence R&D & Chairman DRDO
• DG Acquisition
• Deputy Chief of the Air Staff (Member Secretary)

Recent News:

• In February 2025, Raksha Mantri Shri Rajnath Singh released the first edition of the Ministry of Defence’s (MoD) bi-annual Hindi magazine ‘Sashakt Bharat’.

About Ministry of Defence:

• Cabinet Minister: Rajnath Singh
• Minister of State (MoS): Ajay Bhatt

CURRENT AFFAIRS: SPORTS NEWS

Gulmarg Set to Host Khelo India Winter Games 2025 After Fresh Snowfall

• The Khelo India Winter Games (KIWG) 2025 will take place in Gulmarg, Jammu and Kashmir, from March 9 to 12.
• The event, initially scheduled for February 22-25, was postponed due to insufficient snowfall.
• However, heavy snowfall (113 cm) between February 25-28 has now made the slopes ideal for winter sports.

Postponement and Rescheduling

• The event was delayed due to lack of snow, with former CM Omar Abdullah suggesting a March reschedule.
• Fresh snowfall in Gulmarg between February 25-28 ensured suitable conditions for the games.

Sports Disciplines Featured

The 2025 edition of KIWG will include:

• Alpine Skiing
• Nordic Skiing
• Ski Mountaineering
• Snowboarding

Participation & Expected Turnout

• 30 teams comprising around 1,000 athletes and officials from across India.
• Organized by the Jammu and Kashmir Sports Council, aiming to promote winter sports and boost tourism in the region.

Weather Update & Forecast

• Kashmir Valley has been experiencing fresh rain and snowfall, lowering temperatures.
• Srinagar recorded a minimum of 4.9°C, while Gulmarg saw -4.3°C.
• The Meteorological Department warns of possible landslides, rockfalls, and avalanches in higher regions.
• Weather expected to improve from March 5, with another rain/snow spell forecasted between March 10-12.

Vidarbha Clinches Third Ranji Trophy Title with Dominant Performance

• Vidarbha secured their third Ranji Trophy title in seven seasons, emerging victorious in the 2024-25 final against Kerala in Nagpur.
• Led by Akshay Wadkar, the team won the championship on first-innings lead after the match ended in a draw at the Vidarbha Cricket Association Stadium on March 2, 2025.

Vidarbha’s Journey to Victory

• First Innings: Vidarbha posted 379 runs, securing a crucial lead by restricting Kerala to 342.
• Second Innings: Vidarbha extended their dominance, batting for 143.5 overs and declaring at 375/9.
• Final Result: The match ended in a draw, with Vidarbha winning based on their first-innings lead.

Key Performers in the Final

Karun Nair’s Batting Brilliance

• First Innings: Scored 86 runs, setting the foundation for Vidarbha.
• Second Innings: Played a match-defining 135 off 295 balls, anchoring the innings under pressure.

Danish Malewar – Player of the Match

• The 21-year-old batter scored a brilliant hundred in the first innings, showcasing composure in a high-stakes game.

Harsh Dubey’s Record-Breaking Bowling Performance

• 69 wickets in the season, breaking the Ranji Trophy record for most wickets in a single edition (previous record: 68 by Ashutosh Aman).
• Also contributed 476 runs in 10 matches, including five fifties, proving his all-round capabilities.

Brandon Holt Clinches Bengaluru Open 2025 ATP Challenger Title

• The Bengaluru Open 2025 ATP 125 Challenger witnessed high-intensity tennis action, culminating in an electrifying singles title victory for Brandon Holt (USA) over Shintaro Mochizuki (Japan) at the KSLTA Tennis Stadium, Bengaluru.
• The tournament, part of the ATP Challenger Tour, carried a prize pool of $200,000 and was played on hard courts.

Tournament Overview

• Venue: KSLTA Tennis Stadium, Bengaluru
• Category: ATP Challenger 125
• Significance: Fourth and final ATP Challenger tournament in India after the Chennai Open, Delhi Open, and Maharashtra Open

Brandon Holt’s Road to Victory

• Final Match: Defeated Shintaro Mochizuki (6-3, 6-3)
• Comeback Performance: Holt bounced back after losing the 2025 Maharashtra Open final to Dalibor Svrcina (Czechia)
• First ATP Challenger 125 Title of 2025

Prize Money & ATP Points

• Winner (Brandon Holt) – 125 ATP points & $28,400
• Runner-up (Shintaro Mochizuki) – 64 ATP points & $16,700

Doubles Champions: Anirudh Chandrasekar & Ray Ho

• Final Match: Defeated Blake Bayldon & Matthew Christopher Romios (Australia) (6-2, 6-4)
• Chandrasekar’s Achievement: Sixth ATP Challenger title, first with Ray Ho
• Australian Duo’s Consecutive Losses: Also lost the 2025 Maharashtra Open final to Jeevan Nedunchezhiyan & Vijay Sundar Prashanth (India)

Indian Success at Bengaluru Open

• Past Indian Doubles Winners:
  • Saketh Myneni & Ramkumar Ramanathan (2024, 2022)
  • Ramkumar Ramanathan & Purav Raja (2020)

2025 ATP Challenger Tour in India – Winners List

Chennai Open ATP 100 Challenger

• Singles: Kyrian Jacquet (France) def. Elias Ymer (Sweden)
• Doubles: Shintaro Mochizuki & Kaito Uesugi (Japan) def. Ramkumar Ramanathan & Saketh Myneni (India)

Delhi Open ATP 75 Challenger

• Singles: Kyrian Jacquet (France) def. Billy Harris (Great Britain)
• Doubles: Masamichi Imamura & Rio Noguchi (Japan) def. Niki Poonacha (India) & Courtney Lock (Zimbabwe)

Maharashtra Open ATP 100 Challenger

• Singles: Dalibor Svrcina (Czechia) def. Brandon Holt (USA)
• Doubles: Jeevan Nedunchezhiyan & Vijay Sundar Prashanth (India) def. Blake Bayldon & Matthew Christopher Romios (Australia)

Bengaluru Open ATP 125 Challenger

• Singles: Brandon Holt (USA) def. Shintaro Mochizuki (Japan)
• Doubles: Anirudh Chandrasekar (India) & Ray Ho (Chinese Taipei) def. Blake Bayldon & Matthew Christopher Romios (Australia)

RECENT NEWS

• Asia’s first life-sized animatronic elephant, Ellie, was introduced in Bengaluru on February 11, 2025.

CURRENT AFFAIRS: OBITUARY

Mumbai cricket great Padmakar Shivalkar passed away aged 84

• Padmakar Shivalkar, the legendary left-arm spinner, passed away in Mumbai at the age of 84.
• Shivalkar picked up 589 wickets in First-Class cricket across 124 games, with an impressive average of 19.74.
• He played a key role in Mumbai’s 15-season Ranji Trophy title streak and was regarded as one of the finest spinners in domestic cricket.
• In 2017, he received the C.K. Nayudu Lifetime Achievement Award from the Board of Control for Cricket in India (BCCI), alongside fellow spinner Rajinder Goel.
• His last public appearance was during the 50th anniversary celebration of Wankhede Stadium, where he was felicitated by the Mumbai Cricket Association (MCA).
• Shivalkar was spotted and mentored by Vinoo Mankad and trained at Shivaji Park Gymkhana.
• He made his Mumbai debut in 1961-62 and retired after the 1980-81 Ranji Trophy final.
• However, he was briefly called out of retirement just before his 48th birthday, making a mark in the pre-quarterfinal and quarterfinal matches.
• Despite his outstanding domestic record, Shivalkar was unfortunate to miss out on international cricket, as his peak coincided with India’s legendary spin quartet—Bishan Singh Bedi, Erapalli Prasanna, S. Venkataraghavan, and B.S. Chandrasekhar.
• Sunil Gavaskar, in his book ‘Idols’, expressed regret over his inability to convince selectors to pick Shivalkar for the Indian Test team.
• Beyond his playing career, Shivalkar was a passionate singer and later became a coach at Shivaji Park Gymkhana.
• He also served as Mumbai’s selection panel chairman in 2008-09.

Ron Draper, oldest Test cricketer, passed away in South Africa aged 98

• Ron Draper, the oldest living Test cricketer, has passed away in Gqeberha at the age of 98 years.
• Draper, a top-order batsman and occasional wicketkeeper, played two Test matches for South Africa against Australia in 1950.
• With his passing, Neil Harvey, aged 96, now becomes the oldest living Test player.
• The previous oldest Test cricketers were also South Africans—Norman Gordon, who died at 103 in 2016, and John Watkins, who passed away at 98 in 2021.
• Born on December 24, 1926, Draper made an immediate impact, scoring a century on first-class debut for Eastern Province against Orange Free State on his 19th birthday.
• His impressive 86 against the touring Australians in 1949/50 led to his selection in the final two Tests of the series, but he managed only 25 runs in three innings.
• In contrast, his opponent, Neil Harvey, then just 21 years old, hit centuries in both matches.
• Draper played first-class cricket until 1959/60, finishing with an impressive batting average of 41.64.
• Notably, he scored a century before lunch on the first day of his first two matches of the 1952/53 season.
• In the second match, against Border, he added another hundred in the second innings, becoming the first player to score two centuries in a match in South Africa's Currie Cup competition.

Daily CA One- Liner: March 5

• India has taken a major step towards global peace and harmony with the inauguration of its first World Peace Center in Gurugram, Haryana
• The Forbes India Leadership Awards (FILA) 2025 concluded with a grand ceremony at the Jio World Convention Centre in Mumbai, celebrating India’s corporate and entrepreneurial leaders
• The Indian Institute of Foreign Trade (IIFT) has signed a Memorandum of Understanding (MoU) with APEC – Antwerp/Flanders Port Training Center, Belgium, marking a significant step toward advancing academic collaboration in international trade, logistics, and supply chain management
• The Government of India and the Government of Nepal have signed a Memorandum of Understanding (MoU) to enhance cooperation in the Water, Sanitation, and Hygiene (WASH) sector, including waste management
• The Khelo India Winter Games (KIWG) 2025 will take place in Gulmarg, Jammu and Kashmir, from March 9 to 12
• Vidarbha secured their third Ranji Trophy title in seven seasons, emerging victorious in the 2024-25 final against Kerala in Nagpur
• The Bengaluru Open 2025 ATP 125 Challenger witnessed high-intensity tennis action, culminating in an electrifying singles title victory for Brandon Holt (USA) over Shintaro Mochizuki (Japan) at the KSLTA Tennis Stadium, Bengaluru.
• ICICI Prudential Life Insurance has introduced ‘ICICI Pru GIFT Select’, a long-term savings product that offers guaranteed immediate income for liquidity.
• Poonawalla Fincorp, a Cyrus Poonawalla Group NBFC focused on Consumer & MSME Lending, has launched PL Prime Digital 24×7, an industry-first fully digital personal loan for salaried professionals.
• Paytm has partnered with RBL Bank to boost digital payment adoption among the bank's merchant partners.
• India’s economic growth is likely to be steady at 6.5% in FY26, CRISIL (Credit Rating Information Services of India Limited) stated in a report
• The Nitish Kumar government in Bihar tabled the ₹3.17 trillion Budget for 2025-26, focusing on women-centric schemes and job creation.
• Finance Minister Radha Krishna Kishore tabled the annual Budget of Rs 1, 45,400 crore for FY 2025-26 in the Jharkhand Assembly, an up of about 13 per cent than last year.
• The Mizoram government has introduced the Special Voluntary Retirement Scheme across the state.
• Yamandu Orsi was sworn in as Uruguay’s president on March 1, 2025, for a five-year term.
• RBL Bank has appointed Narendra Agrawal as President & Head of Branch Banking and Retail Liabilities and T S Pari as Chief Operations Officer (COO).
• Rikant Pittie, CEO & Co-founder of EaseMyTrip, has been appointed as Chairman of the Confederation of Indian Industry (CII) Delhi State for 2025-26.
• Defence Secretary Shri Rajesh Kumar Singh presented the report of the Empowered Committee for Capability Enhancement of the Indian Air Force (IAF) to Raksha Mantri Shri Rajnath Singh in New Delhi on March 03, 2025.
• The Indian National Centre for Ocean Information Services (INCOIS), an autonomous body under the Ministry of Earth Sciences (MoES), will launch two new services to mark its 26th Foundation Day
• The World Health Organization (WHO) has congratulated Guinea for eliminating the gambiense form of human African trypanosomiasis (HAT) as a public health problem
• India paid USD 32.895 million to the UN Regular Budget, securing a place on the UN Honour Roll.
• Canara Crest is an exclusive premium banking membership program designed to provide a combination of personalized banking services and luxury lifestyle benefits.
• Padmakar Shivalkar, the legendary left-arm spinner, passed away in Mumbai at the age of 84.
• Ron Draper, the oldest living Test cricketer, has passed away in Gqeberha at the age of 98 years.