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CURRENT AFFAIRS: BANKING & FINANCE

Reserve Bank of India may have to infuse ₹1 Lakh crore by March,2025 to maintain liquidity -State Bank of India Research report

• The Reserve Bank of India (RBI) may have to inject additional ₹1 lakh crore into the banking system by March 2025 to maintain liquidity at an equilibrium level, according to a report by the State Bank of India (SBI) research.
• The report highlighted that systemic liquidity remains tight, with a deficit of approximately ₹1.6 lakh crore as of the end of February 2025.
• The average liquidity deficit is higher, at around ₹1.95 lakh crore.
• The banking system has been facing a severe liquidity crunch in recent months, making it one of the worst liquidity shortages in over a decade.
• Liquidity conditions in the banking system have deteriorated significantly over the past few months.

Key Highlights:

• In November 2023, the system had a surplus liquidity of ₹1.35 lakh crore.
• However, this quickly turned into a deficit of ₹65,000 crore in December, which further widened to ₹2.07 lakh crore in January 2024 and ₹1.59 lakh crore in February.
• Several factors have contributed to this situation, including significant foreign portfolio investor (FPI) outflows and the maturing of forward transactions over the next few months.
• The report also noted that year-end tax outflows and rising credit demand will likely keep liquidity conditions tight.
• To ease liquidity pressures, the RBI has taken several measures, including conducting variable rate repo (VRR) auctions of different tenors, open market operations (OMOs), and dollar-rupee swap arrangements.
• The central bank has also carried out daily VRR auctions since January 16, 2025 to manage short-term liquidity needs.
• So far, the RBI has conducted OMOs worth ₹1.38 lakh crore, while quarter-end VRR auctions scheduled for April amount to nearly ₹1.8 lakh crore.
• Additionally, the central bank has reduced the repo rate by 25 basis points in February 2025 to support liquidity.
• The SBI report indicates that despite these efforts, liquidity remains tight.
• The RBI's daily VRR data shows that the allotted amount as a percentage of bids received has averaged 83 per cent since December 17, 2024.
• While the daily liquidity deficit has slightly reduced in March, the overall situation remains concerning due to sustained credit demand and fiscal outflows.
• Given these factors, the report estimates that the RBI will need to inject around ₹1 lakh crore by the end of March to bring liquidity to a balanced level.
• If liquidity conditions remain tight, the central bank may have to take further measures to stabilize the banking system.

Recent News:

• In February 2025, SBI revised India’s FY25 GDP growth forecast to 6.3%, down from RBI’s 6.6% estimate, citing a slowdown in manufacturing, weak private investment, and global uncertainties.

About State Bank of India (SBI):

• Founded Year: 1955
• Headquarters: Mumbai, Maharashtra, India
• Chairman: Challa Sreenivasulu Setty
• Slogan: "The Banker to Every Indian"

Paytm Introduces Unified Payments Interface (UPI) Trading Blocks to Simplify Stock Investments

• Paytm, operated by One 97 Communications, has unveiled a new feature that allows brokerage applications to block funds directly in users’ bank accounts through its Unified Payments Interface (UPI) service.
• In an exchange filing on 4 March 2025, the company announced the launch of UPI Trading Blocks, a feature designed to enhance the convenience and security of stock trading.

Key Highlights:

• With this new system, users can set up automatic payment deductions directly from their bank accounts, eliminating the need to transfer funds to brokerage platforms.
• The funds remain in the users’ accounts, continuing to earn interest until an order is executed, at which point the required amount is automatically deducted without requiring a UPI PIN.
• The feature operates on the infrastructure of the National Payments Corporation of India (NPCI) and allows traders to manage and track their funds through the Paytm app.
• UPI Trading Blocks are part of a broader initiative to streamline app-based equity trading.
• The mechanism enhances security and efficiency by reducing the risk of fund misuse while ensuring that investors can access their money for immediate trades.
• The feature complies with the Securities and Exchange Board of India’s (SEBI) directive mandating UPI Trading Blocks for qualified stock brokers starting 1 February 2025.
• SEBI had initially introduced the system in beta mode as an optional feature on 1 January last year (2024).
• Under this framework, funds remain in bank accounts and are debited only upon trade execution, with a T+1 settlement cycle for payouts.
• Paytm’s UPI Trading Blocks, initially available for UPI handles of Axis Bank (@ptaxis) and Yes Bank (@ptyes), will soon extend to SBI (@ptsbi) and HDFC Bank (@pthdfc) according to reports.
• The company recently introduced the Receive Money QR Widget for Android and iOS, enabling shopkeepers, freelancers and small businesses to accept payments seamlessly.
• Additionally, it has rolled out a coin-drop sound feature for real-time payment notifications.
• Paytm also supports UPI Lite for small-value transactions, RuPay credit card linking on UPI, and an auto-pay service.
• Furthermore, it has extended support for international UPI payments in several countries, including the UAE, Singapore, France, Mauritius, Bhutan, Sri Lanka and Nepal.

Recent News:

• In March 2025, Paytm partnered with RBL Bank to strengthen digital payment adoption among the bank's merchant partners.

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

CURRENT AFFAIRS: NATIONAL NEWS

India Advances Green Hydrogen Leadership with Hydrogen-Powered Truck Trials

• Union Minister for New and Renewable Energy, Shri Pralhad Joshi, reaffirmed India’s commitment to becoming a global leader in green hydrogen production and utilization.
• Speaking at the launch of India’s first fleet of hydrogen-powered truck trials in New Delhi, he highlighted the transformative role of the National Green Hydrogen Mission (NGHM) in ensuring energy independence and carbon emission reduction.
• Under Prime Minister Shri Narendra Modi’s leadership, India has set ambitious targets to establish itself at the forefront of the green energy transition.

Key Highlights

National Green Hydrogen Mission (NGHM)

• Launched with a ₹19,744 crore budget to promote hydrogen production, storage, and application.
• India has already awarded 4,12,000 TPA of Green Hydrogen production capacity.
• Approved 3 GW of electrolyser manufacturing capacity per annum.
• Published 88 safety and scalability standards for hydrogen adoption.
• Launched seven pilot projects across transportation, shipping, steel, and storage sectors.

2030 Green Hydrogen Targets

• Annual Green Hydrogen production: 5 million metric tons (MMT).
• Electrolyser capacity: 60-100 GW.
• Renewable energy capacity for hydrogen production: 125 GW.
• CO₂ emissions reduction: 50 million metric tons annually.
• Fossil fuel import savings: ₹1 lakh crore.
• Projected investments: ₹8 lakh crore.

Hydrogen-Powered Truck Trials

• Marks a significant shift in India’s mobility sector to reduce fossil fuel dependence.
• India is the third-largest oil consumer and fourth-largest crude oil importer.
• The first batch of three hydrogen-powered heavy-duty trucks will operate on:
  • Faridabad–Delhi NCR route.
  • Ahmedabad–Surat–Vadodara route.
• Indian Oil Corporation Limited (IOCL) is setting up hydrogen refueling stations in:
  • Faridabad
  • Vadodara
  • Pune
  • Balasore

India Launches Cities Coalition for Circularity (C-3) for Sustainable Urban Development

• India has launched the Cities Coalition for Circularity (C-3) on March 3, 2025, marking a major step towards sustainable urban development.
• This multi-national alliance aims to promote city-to-city collaboration, knowledge-sharing, and private sector partnerships to enhance waste management and resource efficiency.
• The initiative aligns with India’s Pro-Planet People (P-3) approach, focusing on the 3R principles (Reduce, Reuse, Recycle) and circular economy practices.

Key Highlights of the C-3 Initiative

Objective

• Strengthen urban sustainability by fostering collaboration between cities, policymakers, industry leaders, and development partners.

Global Participation

• The coalition will bring together multiple nations to share knowledge and best practices in circular economy principles.

Pro-Planet People Approach

• PM Modi emphasized India’s commitment to sustainability and its readiness to share experiences in circular economy development.

Working Group Proposal

• A working group of member nations will be formed to finalize the coalition’s structure and operational framework.

CITIIS 2.0 Agreement

• A key MoU was signed in Jaipur, securing ₹1,800 crore for 18 cities across 14 states.
• These cities will serve as models for urban sustainability, demonstrating best practices in waste management, circular economy, and sustainable infrastructure.

Historical Background

• The Regional 3R and Circular Economy Forum was established in 2009 to promote waste management and sustainability in the Asia-Pacific region.
• The Hanoi 3R Declaration (2013-2023) outlined 33 voluntary goals to facilitate the transition towards a circular economy.

Prime Minister Narendra Modi Inaugurates Vantara: A Landmark Wildlife Conservation Center in Gujarat

• Prime Minister Narendra Modi recently inaugurated Vantara, an advanced animal rescue, conservation, and rehabilitation center in Jamnagar, Gujarat.
• The event was attended by Reliance Industries Chairman Mukesh Ambani, Nita Ambani, Anant Ambani, and Radhika Merchant.
• During his visit, PM Modi explored state-of-the-art facilities, interacted with rehabilitated animals, and observed medical procedures at the center’s wildlife hospital.
• His presence underscored India’s commitment to wildlife conservation and the protection of endangered species.

Key Highlights of PM Modi’s Visit to Vantara

1. Inauguration and Key Attendees

• PM Narendra Modi inaugurated Vantara in Jamnagar, Gujarat.
• Attended by Mukesh Ambani, Nita Ambani, Anant Ambani, and Radhika Merchant.

2. Wildlife Hospital: Advanced Medical Facilities

• PM Modi toured a specialized wildlife hospital equipped with:
  • MRI and CT scan machines
  • Intensive Care Units (ICUs) for animals
• He observed critical treatments, including:
  • MRI scan on an Asiatic Lion
  • Life-saving surgery on a rescued Leopard

3. Interaction with Rescued Animals

PM Modi played with and fed rare species, including:

• Asiatic Lion cubs
• White Lion cub (born at Vantara after mother’s rescue)
• Clouded Leopard cub (endangered species)
• Caracal cubs (bred for release into the wild)
• Golden Tiger and four Snow Tigers, rescued from a circus

4. Conservation Initiatives at Vantara

• Key species protected at Vantara:
  • Asiatic Lions
  • Snow Leopards
  • One-Horned Rhinoceroses
• Rescued animals are provided natural habitat-like environments.

5. Additional Animal Encounters

PM Modi interacted with diverse species, including:

• Okapi
• Chimpanzees and Orangutans (rescued from captivity)
• Hippopotamus, Crocodiles, and Zebras
• Giant Otter, Bongo (antelope), Tapir, Seals, and Leopard cubs
• Python, a two-headed snake, and a two-headed turtle
• Hydrotherapy pools for elephants, aiding in arthritis and foot problem treatments
• Released rescued parrots back into the wild

6. PM Modi’s Commitment to Wildlife Conservation

• On World Wildlife Day, PM Modi took a lion safari in Gir National Park.
• Encouraged citizens to protect biodiversity for future generations.
• Recognized India’s significant efforts in wildlife conservation.

India's First Comprehensive River Dolphin Survey Records 6,327 Dolphins in Ganga, Brahmaputra, and Beas

• India’s first-ever comprehensive river dolphin population survey (2021–2023) has recorded a total of 6,327 river dolphins, covering the Ganga and Brahmaputra river basins and the Beas river.
• Conducted by the Wildlife Institute of India (WII) in collaboration with state forest departments and non-profit organizations, the findings were announced by Prime Minister Narendra Modi during the 7th National Board for Wildlife meeting at Gir National Park.

Key Highlights

Survey Overview

• Total Dolphin Population: 6,327 (6,324 Gangetic dolphins + 3 Indus river dolphins).
• Conducted By: Wildlife Institute of India (WII), state forest departments (Punjab, UP, Bihar, Assam, Jharkhand, Rajasthan), and NGOs like WWF, Aaranyak, Turtle Survival Alliance, and Wildlife Trust of India.
• Survey Period: 2021-2023.
• Total Distance Surveyed:
  • Ganga & Brahmaputra basins: 8,406 km
  • Beas river: 101 km
• Project Dolphin: Launched on August 15, 2020, by PM Modi to strengthen conservation efforts.

Dolphin Population Breakdown

Species-Wise Count

• Gangetic Dolphins (Platanista gangetica gangetica): 6,324
  • Ganga River Basin: 5,689 (range: 5,371-6,024)
  • Brahmaputra River Basin: 635 (range: 5,977-6,688)
• Indus River Dolphins (Platanista gangetica minor): 3 (Beas River, Punjab).

State-Wise Dolphin Distribution

State	Dolphin Count
Uttar Pradesh	2,397
Bihar	2,220
West Bengal	815
Assam	635
Jharkhand	162
Rajasthan & MP	95
Punjab	3

Key Findings in the Ganga Basin

• Total distance surveyed: 7,109 km (Main stem & tributaries).
• Major tributaries surveyed: Chambal, Yamuna, Rapti, Sharda, Ghaghara, Mahananda, Kosi, Gandak, Geruwa, Rupnarayan, Torsa, Kaljani, Churni, and Haldi.
• Highest dolphin concentration:
  • 47 km Bhind-Pachnada stretch (Chambal River, UP).
• Low population zones:
  • Kanpur-Vindhyachal stretch (380 km): 1.89 dolphins/km (moderate population).
  • Narora-Kanpur stretch (366 km): Very few dolphins found.
• Densest population:
  • Bihar’s Chausa-Manihari stretch (590 km): 1,297 dolphins (one of the most densely populated dolphin zones).

India's Circular Economy to Generate $2 Trillion Market Value and 10 Million Jobs by 2050: Union Minister Environment, Forest and Climate Change Bhupender Yadav

• India’s circular economy is projected to generate over $2 trillion in market value and create 10 million jobs by 2050, according to Union Minister Bhupender Yadav.
• At the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific, he highlighted India’s shift from the traditional "take, make, waste" model to a sustainable reuse and recycle-based system.
• India has also expressed interest in hosting the World Circular Economy Forum (WCEF) in 2026.

Key Highlights

India’s Circular Economy Potential

• Market Value: Expected to exceed $2 trillion by 2050.
• Job Creation: Nearly 10 million new jobs anticipated.
• Economic Shift: Transitioning from a wasteful production model to a sustainable economy.
• Global Impact: Circular economy projected to contribute $4.5 trillion to the global economy by 2030.

India’s Bid for WCEF 2026

• India has applied to host the World Circular Economy Forum (WCEF) 2026.
• WCEF 2025 will take place in São Paulo, Brazil.

Plastic Waste Management & Policy Initiatives

• Plastic Waste Management Rules (2016): Set strict waste reduction guidelines.
• Ban on Single-Use Plastics (2022): Nationwide ban to curb plastic pollution.
• Eco-Mark Rules (Mission LiFE): Promote eco-friendly products.
• Circular Economy Action Plans: Finalized for 10 waste categories.
• Extended Producer Responsibility (EPR) Rules: Applied to plastics, e-waste, construction, and metal recycling.

Major Developments at the Forum

1. Launch of SBM Waste to Wealth PMS Portal

• Developed under the Swachh Bharat Mission (SBM).
• Enhances project monitoring and data management.
• Facilitates resource-sharing to improve waste-to-value initiatives.

2. Release of IFC Document Reference Guide

• Covers business models for Solid Waste Management (SWM).
• Explores waste processing technologies like waste-to-energy, biomethanation, and bioremediation.
• Aims to support municipalities and the private sector in waste management.

3. MoU Between CSIR & MoHUA

• Signed by the Council of Scientific and Industrial Research (CSIR) and the Ministry of Housing and Urban Affairs (MoHUA).
• Focuses on research-driven solutions for urban waste management.

4. Release of ‘India’s Circular Sutra’

• A compendium highlighting best practices in Reduce, Reuse, and Recycle (3R) principles.
• Provides case studies for urban local bodies to implement circular economy solutions.

5. CEEW Report on SWM in Million-Plus Cities

• Conducted by the Council on Energy, Environment, and Water (CEEW).
• Analyzes sustainable solid waste management (SWM) strategies.
• Focuses on decentralized waste solutions for rapidly urbanizing areas.

Ministry of Panchayati Raj to Launch Model Women-Friendly Gram Panchayats Initiative at National Convention on March 5, 2025

• The Ministry of Panchayati Raj is set to launch the Model Women-Friendly Gram Panchayats (MWFGP) initiative at a National Convention on March 5, 2025, at Vigyan Bhawan, New Delhi.
• This initiative aims to promote gender-sensitive governance at the grassroots level, ensuring safety, inclusivity, and gender equality for women and girls in Gram Panchayats across India.
• The event is part of the Ministry’s International Women’s Day 2025 celebrations and will be attended by Union Minister of State Prof. S. P. Singh Baghel (Ministry of Panchayati Raj & Fisheries, Animal Husbandry and Dairying) and Union Minister of State Smt. Anupriya Patel (Ministry of Health & Family Welfare).
• Other key officials, representatives from various Ministries, State Institutes of Rural Development & Panchayati Raj (SIRD&PRs), and international organizations like the United Nations Population Fund (UNFPA) will also be present.

Key Highlights of the Initiative

Vision & Objective

• The initiative aims to establish at least one Model Women-Friendly Gram Panchayat in each district to promote gender-sensitive, safe, and inclusive rural governance.
• This effort aligns with Prime Minister Narendra Modi’s vision of Viksit Bharat through Viksit Panchayats.

Key Announcements at the National Convention

• The event will feature the virtual inauguration of training for Elected Representatives and officials of the identified Gram Panchayats.
• A Monitoring Dashboard will be launched to track progress and implementation of the MWFGP initiative.
• Presentations will be made on the concept of Women-Friendly Panchayats, highlighting best practices and transformation strategies.
• Additionally, informational videos showcasing successful women-friendly governance models in Gram Panchayats will be screened.

Participation & Reach

• Around 350 participants, including Elected Representatives from Gram Panchayats across India, will attend either physically or virtually.
• At least one Gram Panchayat from each district will be represented.

Nationwide Mahila Gram Sabhas on March 8, 2025

• Following the convention, Mahila Gram Sabhas will be organized nationwide to mark the grassroots-level launch of the initiative, coinciding with International Women’s Day 2025.
• These Sabhas will engage women in decision-making and governance, ensuring their active participation in rural development.

NITI Aayog Launches Report on Women’s Financial Growth in India

• NITI Aayog has released a significant report titled “From Borrowers to Builders: Women’s Role in India’s Financial Growth Story”.
• Launched by NITI Aayog CEO Shri B.V.R. Subrahmanyam, the report highlights a sharp increase in women's financial engagement, with 27 million women actively monitoring their credit as of December 2024—a 42% rise from the previous year.
• The report, published by TransUnion CIBIL, Women Entrepreneurship Platform (WEP) of NITI Aayog, and MicroSave Consulting (MSC), underscores the growing role of women in India's credit ecosystem.

Key Findings from the Report

Growing Credit Awareness Among Women

• Women’s participation in credit self-monitoring has increased significantly, with their share rising to 19.43% in December 2024, up from 17.89% in 2023.
• Women from non-metro regions are engaging more actively than those in metro areas, with a 48% growth rate in credit monitoring in non-metro areas compared to 30% in metro cities.

State-Wise Insights

• Maharashtra, Tamil Nadu, Karnataka, Uttar Pradesh, and Telangana accounted for 49% of all self-monitoring women, with the southern region leading at 10.2 million active women credit users.
• The highest compound annual growth rates (CAGR) in active women borrowers were observed in Rajasthan, Uttar Pradesh, and Madhya Pradesh over the past five years.

Women’s Rising Role in Business Credit

• Since 2019, women’s share in business loan origination has increased by 14%, while their share in gold loans has grown by 6%. By December 2024, 35% of all business borrowers were women.

Challenges in Women’s Financial Access

Despite this progress, women still face key challenges, including:

• Credit aversion and limited financial confidence.
• Poor banking experiences and lack of tailored financial products.
• Collateral and guarantor-related barriers restricting access to credit.

CURRENT AFFAIRS: INTERNATIONAL NEWS

Nepal passes E-Commerce Bill to regulate online trade

• Nepal’s Parliament passed the Electronic Commerce Bill, giving confidence to consumers and creating a legal framework for regulating the country’s online trade.
• The bill proposes fines ranging from three lakh Nepali rupees to five lakh Nepali rupees, jail terms of three years, or both, depending on the severity of the cases.

Key Highlights:

• The government of Nepal moved to enact the bill decades after e-commerce began in the Himalayan Nation.
• The draft bill was prepared in 2021 but stalled due to frequent government changes.
• The bill was registered in the National Assembly upper house by the then-Industry Minister Ramesh Rijal in July 2023.
• According to the amended bill, micro and cottage entrepreneurs can also sell their goods and services using online platforms.
• The bill includes a refund policy for buyers if the purchased goods and services do not match the listed details, such as design, trademark, shape or picture, and weight.
• According to the bill, e-commerce platforms must be registered in the electronic system of the Department of Commerce, Supplies, and Consumer Protection, and the department will conduct regular inspections to ensure this.
• Online businesses that fail to register face fines ranging from 10,000 Nepali rupees to 50,000 Nepali rupees.
• Now, an intermediary business platform’s agreement with sellers willing to sell goods using the online platform must be in two forms: written and online.
• To operate an e-commerce business, traders must establish an e-commerce platform and a dedicated section for customer grievances.

Recent News:

• India and Nepal have strengthened their scientific collaboration with a new MoU signed between CSIR (India) and NAST (Nepal) on February 18, 2025.

About Nepal:

• Capital: Kathmandu
• Currency: Nepalese rupee (NPR)
• President: Ram Chandra Poudel
• Prime Minister: K.P. Sharma Oli

CURRENT AFFAIRS: STATE NEWS

Kerala Assembly passes unanimous resolution against auction of mineral blocks

• ​On March 4, 2025, the Kerala Legislative Assembly unanimously passed a resolution urging the central government to withdraw the 2023 amendment to the Offshore Areas Mineral Development and Regulation Act, 2002, which permits private participation in deep-sea mineral exploration and mining.
• The Assembly expressed concerns that such activities could devastate marine resources, harm biodiversity, and threaten the livelihoods of millions of fisherfolk in the state.

Key Highlights:

• The resolution highlighted that the Ministry of Mines plans to auction 13 mining blocks, including three off the Kollam coast, known as Kollam Parappu.
• Experts have warned that deep-sea mining could endanger various marine species, such as corals, sea urchins, and crabs, and potentially disrupt the marine ecosystem, leading to increased carbon emissions. ​
• Additionally, the Assembly expressed concern that allowing private companies to conduct deep-sea mining might result in strategically important minerals falling into private hands, posing a threat to national security. ​
• The Kerala government has formally protested the deep-sea mining proposal on multiple occasions, emphasizing that such activities could destroy traditional marine and backwater fish stocks, accelerate coastal erosion, and cause job losses.
• Fishermen unions, under the Kerala Fisheries Coordination Committee, have also organized protests, including a 24-hour hartal, to voice their opposition to the central government's decision. ​

Recent News:

• In February 2025, The Government of Kerala launched Nayanamritham 2.0, the world's first AI-assisted eye screening program for chronic diseases.

About Kerala:

• Chief Minister: Pinarayi Vijayan
• Governor: Rajendra Vishwanath Arlekar
• Capital: Thiruvananthapuram
• National Parks: Eravikulam National Park, Periyar Wildlife Sanctuary, Silent Valley National Park, Parambikulam Tiger Reserve
• Wildlife Sanctuaries: Wayanad Wildlife Sanctuary, Idukki Wildlife Sanctuary, Chilika Lake Wildlife Sanctuary

West Bengal to deploy AI in Kanyashree scheme by International Women’s Day

• The West Bengal government is planning to leverage AI in its flagship Kanyashree program aimed at reducing drop outs among girls in schools.

Key Highlights:

• On the occasion of International Women's Day (March 8) , this initiative is being planned to counter problems emerging from applicants making mistakes in submitting long application forms online.
• Currently each applicant has to upload 30-35 information details on the portal including name, address, bank account among others.
• Inadvertently mistakes crop up including wrong bank accounts and IFSC codes as well as even 2 girls ending up with the same account numbers.
• These issues often lead to delay in disbursal of the amount under Kanyashree.
• Under Kanyashree 1 part of the scheme, all girls studying between 13 to 18 years of age get Rs 1000 as stipend yearly if she does not get married.
• If she continues stories after 18 without getting married, she gets a one time stipend of Rs 25000.
• Since every year, more than 1 lakh girls enrol for this scheme under the Women & Child Welfare Department, more mistakes cropping up was often leading to time delays.
• Leveraging AI will not only ensure accuracy of the input data, but consequently lead to more timely disbursal of Kanyashree benefits.
• In 11 years of Kanyashree, more than 90 lakh girls have been beneficiaries of this scheme.
• No wonder, this was recognized by the United Nations as the top social scheme globally.
• In 2024-25 itself, 15.75 lakh girls have enrolled for the Rs 1000 yearly scholarship.
• Another 2.1 lakh girls have received the one time Rs 25,000 grant.
• The state has already allocated Rs 593.59 crore under this project this year.

About West Bengal:

• Chief Minister: Mamata Banerjee
• Governor: C. V. Ananda Bose
• Capital: Kolkata
• National Parks: Sundarbans National Park, Jaldapara National Park, Buxa National Park, Gorumara National Park, Neora Valley National Park
• Wildlife Sanctuaries: Sajnekhali Wildlife Sanctuary, Bibhutibhushan Wildlife Sanctuary, Bethuadahari Wildlife Sanctuary, Ballavpur Wildlife Sanctuary, Haliday Island Wildlife Sanctuary

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Tyre major MRF announces Shubman Gill as brand ambassador

• Tyre major MRF has signed cricketer Shubman Gill, Team India's Vice Captain in the ICC Champions Cup, as its brand ambassador.
• Shubman Gill, who was recently announced as the No 1 ranked ODI batter in the ICC Men’s Player rankings, joins a group of elite cricketers who have been associated with the MRF name.
• Shubman Gill’s association was announced by MRF as a partnership that will extend across all future cricket tournaments.
• This association is in addition to the ongoing relationship with India’s star batsman Virat Kohli.

Recent News:

• In March 2025, Levi’s, the iconic denim brand, named Diljit Dosanjh as its global ambassador, making him the first Punjabi artist to be part of its creative community.

CURRENT AFFAIRS: ACQUISITION & MERGERS

Fintech startup Mintoak Acquires Digiledge in India’s First E-Rupee Deal Worth $3.5 Million

• Mintoak, a PayPal-backed fintech startup, has acquired Digiledge in a deal valued at approximately $3.5 million, marking the first acquisition in India’s central bank digital currency (CBDC) space.

Mintoak Expands CBDC Offerings

• Mumbai-based Mintoak, which provides merchant payment solutions to banks, completed the acquisition to enhance its digital payment capabilities.
• Digiledge, a firm specializing in CBDC and bill payments, will now integrate its services with Mintoak’s platform.
• With this acquisition, Mintoak aims to offer advanced CBDC-related payment solutions to its partner banks, including HDFC Bank, Axis Bank, and SBI.
• The move aligns with India’s ongoing efforts to expand the e-rupee ecosystem.
• The acquisition signals growing interest from fintech firms in CBDC adoption.
• As digital currency adoption in India expands, fintech players are expected to play a critical role in integrating CBDC with existing payment infrastructure.

RBI’s E-Rupee Pilot:

• The Reserve Bank of India (RBI) launched a pilot for the e-rupee in December 2022 as a digital alternative to cash.
• Initially limited to banks, the scope of transactions was extended to payment firms in April 2023.
• Earlier this year, fintech firms like Cred and MobiKwik became the first to enable CBDC transactions for users.
• Meanwhile, major payment firms, including Google Pay, PhonePe, and Amazon Pay, are seeking regulatory approvals to join the pilot.

Jio Financial Services to acquire State Bank of India’s entire stake worth Rs 104 crore in Jio Payments Bank

• Jio Financial Services Limited (JFSL) has announced the acquisition of the remaining stake in Jio Payments Bank Limited (JPBL), making it a wholly owned subsidiary.

Details of the Acquisition:

• Currently, JFSL holds an 82.17% stake in JPBL, with the remaining shares owned by the State Bank of India (SBI).
• As per the company’s disclosure to stock exchanges, the Board of Directors has approved the acquisition of 7,90,80,000 equity shares from SBI for a total consideration of ₹104.54 crore.
• With this acquisition, JFSL will gain complete control over JPBL, strengthening its presence in the digital banking and fintech space.
• However, the transaction is subject to approval from the Reserve Bank of India (RBI) and is expected to be completed within 45 days of receiving the necessary regulatory clearance.
• The company clarified that this acquisition is not a related party transaction, and no promoter or group company has any vested interest in the deal.

CURRENT AFFAIRS: DEFENCE

Indian Naval Ship Kuthar Arrives in Colombo,Sri Lanka Strengthening Maritime Ties Under Eastern Naval Command's Indian Ocean Mission

• Towards strengthening maritime ties, INS Kuthar, Eastern Fleet Ship under the aegis of Eastern Naval Command is on mission deployment in the Indian Ocean Region and arrived at Colombo, Sri Lanka.
• Commander Nitin Sharma, the Commanding Officer of the ship called on RAdm MHCJ Silva, Commander Western Naval Area, Sri Lanka Navy.
• As part of the visit, personnel from both navies will engage in professional interactions, knowledge-sharing sessions, and joint activities to enhance operational synergy between the two navies.
• The visit underscores the longstanding partnership between the two nations, furthering cooperation under GoI’s ‘Neighbourhood First’and ‘Security and Growth for All in the Region (SAGAR)’

CURRENT AFFAIRS: MOUS AND AGREEMENT

Confederation of Indian Industry (CII) Indian Green Building Council (IGBC) and Indian Overseas Bank Sign MoU to Boost Green Building Financing

• The Confederation of Indian Industry (CII) Indian Green Building Council (IGBC) and Indian Overseas Bank (IOB) have signed a Memorandum of Understanding (MoU) to provide accessible financing options for IGBC-certified green buildings.
• This partnership aims to promote energy-efficient construction, water conservation, and the use of renewable materials, thereby encouraging sustainable development in India’s real estate sector.

Objective of the MoU

• The CII IGBC-IOB collaboration seeks to mainstream sustainability in India’s construction sector by offering financial incentives to developers and homebuyers adopting eco-friendly housing solutions.

Key Focus Areas

• Preferential financing options for developers constructing IGBC-rated green buildings.
• Tailored financial assistance for homebuyers purchasing homes in IGBC-certified projects.
• New financing models for affordable green housing under:
  • IGBC Green Affordable Housing
  • IGBC NEST
  • NESTPLUS (targeting Economically Weaker Sections (EWS) and Lower Income Groups (LIG)).
• Awareness campaigns to educate stakeholders about the benefits of green buildings.

Signatories of the MoU

The MoU was signed by key representatives from both organizations, including:

• Koustuv Majumder, General Manager & Chief Risk Officer, IOB
• Venkatagiri, Executive Director, IGBC
• Mahesh Anand, Co-chairman, IGBC Chennai
• Joydeep Dutta Roy, Executive Director, IOB
• Dhanaraj T, Executive Director, IOB

RECENT NEWS

• In Jan 2025, the Confederation of Indian Industry (CII) anticipates India’s Gross Domestic Product (GDP) to grow by 7% in the fiscal year 2025-26, driven by an uptick in private investments and employment generation.

CURRENT AFFAIRS: SPORTS NEWS

Australian cricketing legend Steve Smith Announces Retirement from One-Day Internationals

• Australian cricketing legend Steve Smith has announced his retirement from One-Day Internationals (ODIs), ending an illustrious career in the 50-over format.
• Known for his unorthodox yet effective batting technique, Smith played a pivotal role in Australia’s ODI success, evolving from a leg-spinning all-rounder to one of the most dependable middle-order batters.
• With 170 matches, 5800 runs, and two World Cup victories, Smith leaves behind an enduring legacy in Australian cricket.
• However, he remains committed to Test and T20 cricket, focusing on upcoming international assignments.

Key Highlights of Steve Smith’s ODI Career

Retirement Announcement

• Steve Smith officially retires from ODIs, concluding a remarkable journey in the format.
• His decision comes as he shifts his focus toward Test and T20 cricket.

Final ODI Match

• Last ODI appearance: Champions Trophy semifinal vs India in Dubai.
• Performance: Top-scored for Australia with 73 runs in a losing effort.

ODI Career Stats

• Matches Played: 170
• Runs Scored: 5800
• Batting Average: 43.28
• Strike Rate: 86.96
• Centuries: 12
• Half-centuries: 35
• Highest Score: 164 vs New Zealand (2016)
• Wickets Taken: 28 (debuted as a leg-spinning all-rounder)
• Catches Taken: 90
• Ranked 12th highest run-getter for Australia in ODIs.

RECENT NEWS

• In Jan 2025, New Zealand’s prolific opener, Martin Guptill, officially retired from international cricket, concluding a distinguished 14-year career that began in 2009.
• In Feb 2025, Former Sri Lankan captain and veteran opener Dimuth Karunaratne retired from international cricket following his 100th Test against Australia in Galle.

Indian Grandmaster Pa Iniyan Wins Cannes International Open 2025

• Indian Grandmaster Pa Iniyan clinched the Cannes International Open title, defeating compatriot V Pranesh in the ninth and final round in Cannes, France.

Tournament Highlights

• Iniyan’s Final Score: 5 points, securing the title with a half-point lead.
• Runner-up: Aradhya Garg (7 points) – Delhi-based International Master.
• Third Place: Kazybek Noderbek (7 points) – World Junior Champion from Kazakhstan, placed third on tiebreak.
• Unbeaten Streak: Iniyan remained undefeated with six wins and three draws.
• Elo Rating Gain: +12 points, taking his rating to 2579, bringing him closer to the 2600 Elo barrier.

About the Tournament

• 38th edition of the Cannes International Open.
• 147 participants from 25 countries.
• Top Competitors: 6 Grandmasters and 21 International Masters.

RECENT NEWS

• In Jan 2025, Indian Grandmaster Iniyan Panneerselvam showcased an exceptional performance to win the 9th Johor International Open Chess Tournament in Malaysia.

CURRENT AFFAIRS: IMPORTANT DAYS

International Disarmament and Non-Proliferation Awareness Day: March 5

• Every year on March 5, the world observes International Disarmament and Non-Proliferation Awareness Day to promote global awareness and understanding of disarmament issues, particularly among the youth.
• This day serves as a reminder of the threats posed by weapons of mass destruction (WMDs) and the importance of collective efforts for global peace and security.

Origins of International Disarmament and Non-Proliferation Awareness Day

• Established by the United Nations General Assembly (UNGA) in 2021 to promote education and advocacy on disarmament.
• Recognizes growing threats from nuclear, chemical, and biological weapons.
• Aims to enhance global consciousness on disarmament and non-proliferation.

History of the Day

• 2021: Resolution proposal introduced at the UNGA to establish the observance.
• December 7, 2022: UNGA officially declared March 5 as International Disarmament and Non-Proliferation Awareness Day.
• March 5, 2023: First-ever observance of this global initiative.

Daily CA One- Liner: March 6

• Union Minister for New and Renewable Energy, Shri Pralhad Joshi, reaffirmed India’s commitment to becoming a global leader in green hydrogen production and utilization
• India has launched the Cities Coalition for Circularity (C-3) on March 3, 2025, marking a major step towards sustainable urban development
• Prime Minister Narendra Modi recently inaugurated Vantara, an advanced animal rescue, conservation, and rehabilitation center in Jamnagar, Gujarat
• India’s first-ever comprehensive river dolphin population survey (2021–2023) has recorded a total of 6,327 river dolphins, covering the Ganga and Brahmaputra river basins and the Beas river
• India’s circular economy is projected to generate over $2 trillion in market value and create 10 million jobs by 2050, according to Union Minister Bhupender Yadav
• The Ministry of Panchayati Raj is set to launch the Model Women-Friendly Gram Panchayats (MWFGP) initiative at a National Convention on March 5, 2025, at Vigyan Bhawan, New Delhi
• NITI Aayog has released a significant report titled “From Borrowers to Builders: Women’s Role in India’s Financial Growth Story”
• The Confederation of Indian Industry (CII) Indian Green Building Council (IGBC) and Indian Overseas Bank (IOB) have signed a Memorandum of Understanding (MoU) to provide accessible financing options for IGBC-certified green buildings
• Australian cricketing legend Steve Smith has announced his retirement from One-Day Internationals (ODIs), ending an illustrious career in the 50-over format
• Indian Grandmaster Pa Iniyan clinched the Cannes International Open title, defeating compatriot V Pranesh in the ninth and final round in Cannes, France.
• The Reserve Bank of India (RBI) may have to inject additional ₹1 lakh crore into the banking system by March 2025 to maintain liquidity at an equilibrium level, according to a report by the State Bank of India (SBI) research.
• Paytm, operated by One 97 Communications, has unveiled a new feature that allows brokerage applications to block funds directly in users’ bank accounts through its Unified Payments Interface (UPI) service.
• Nepal’s Parliament passed the Electronic Commerce Bill, giving confidence to consumers and creating a legal framework for regulating the country’s online trade.
• On March 4, 2025, the Kerala Legislative Assembly unanimously passed a resolution urging the central government to withdraw the 2023 amendment to the Offshore Areas Mineral Development and Regulation Act, 2002, which permits private participation in deep-sea mineral exploration and mining.
• The West Bengal government is planning to leverage AI in its flagship Kanyashree program aimed at reducing drop outs among girls in schools.
• Tyre major MRF has signed on cricketer Shubman Gill, Team India's Vice Captain in the ICC Champions Cup, as its brand ambassador.
• Mintoak, a PayPal-backed fintech startup, has acquired Digiledge in a deal valued at approximately $3.5 million, marking the first acquisition in India’s central bank digital currency (CBDC) space.
• Jio Financial Services Limited (JFSL) has announced the acquisition of the remaining stake in Jio Payments Bank Limited (JPBL), making it a wholly owned subsidiary.
• Towards strengthening maritime ties, INS Kuthar, Eastern Fleet Ship under the aegis of Eastern Naval Command is on mission deployment in the Indian Ocean Region and arrived at Colombo, Sri Lanka.
• Every year on March 5, the world observes International Disarmament and Non-Proliferation Awareness Day to promote global awareness and understanding of disarmament issues, particularly among the youth.