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CURRENT AFFAIRS: BANKING & FINANCE

Reserve Bank of India imposes Rs 76.6 lakh penalty on 4 Non-Banking Financial Companies for regulatory non-compliance

• The Reserve Bank of India (RBI) has imposed a total penalty of ₹76.6 lakh on four non-banking financial companies (NBFCs) for non-compliance with its Peer-to-Peer (P2P) lending platform regulations.
• Fairassets Technologies India faced the highest penalty of ₹40 lakh.
• Bridge Fintech Solutions and Rang De P2P Financial Services were each fined ₹10 lakh.
• Visionary Financepeer was penalized ₹16.6 lakh.
• The penalties were imposed under the 'Non-Banking Financial Company - Peer-to-Peer Lending Platform (Reserve Bank) Directions, 2017'.
• RBI clarified that the penalties were due to regulatory deficiencies and do not affect the validity of transactions or agreements made by these entities with customers.
• The penalties were announced via separate releases from the central bank.

Recent News:

• The Reserve Bank of India (RBI) named Dr. Ajit Ratnakar Joshi as its new Executive Director (ED), effective March 3, 2025.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Sanjay Malhotra

SBI Life Insurance expands product line with two new Child Insurance Plans

• SBI Life Insurance, one of India's most trusted private life insurers, has launched two new child products, 'SBI Life - Smart Future Star' and 'SBI Life - Smart Platina Young Achiever', specifically curated to empower parents in securing their child's future aspirations.
• The increasing cost of education, coupled with evolving career aspirations and rising lifestyle expenses, can be unsettling for parents today.
• Addressing the innate need of parents to ensure a fulfilling life for their children regardless of socio-economic challenges, SBI Life’s child products offer the necessary tools to build a comprehensive financial safeguard for their child.

SBI Life - Smart Future Star

• Category: Individual, Non-Linked, Participating, Life Insurance Savings Product
• Benefits:
  • Long-term corpus growth through bonuses
  • In-built Waiver of Premium benefit on death or Accidental Total Permanent Disability of the proposer, ensuring financial security
  • Flexible maturity pay-out options to meet changing financial needs

SBI Life - Smart Platina Young Achiever

• Category: Individual, Non-Linked, Non-Participating, Life Insurance Savings Product
• Benefits:
  • Guaranteed maturity benefit, offering financial security for the child’s education, career aspirations, or marriage
  • Flexible maturity pay-out options to meet evolving financial needs
  • In-built Waiver of Premium benefit on death or Accidental Total Permanent Disability of the proposer, ensuring financial security
  • Risk-free savings approach, catering to parents who prefer guaranteed returns

Recent News:

• SBI Life Insurance Company stated that its board has approved the appointment of Dorababu Daparti as Deputy chief executive officer (CEO) with effect from 24 February 2025.

About SBI Life Insurance:

• Headquarters: Mumbai, Maharashtra, India
• Founded: 2001
• CEO: Amit Jhingran
• Subsidiaries: SBI Pension Funds Pvt. Ltd.
• Key Products: Life Insurance, Health Insurance, Pension Plans, Unit-Linked Insurance Plans (ULIPs), Term Insurance, Child Plans, Retirement Plans, Critical Illness Plans

CURRENT AFFAIRS: NATIONAL NEWS

Prime Minister Shri Narendra Modi Launches Development Initiatives in Gujarat on International Women’s Day

• On the occasion of International Women’s Day March 8, 2025, Prime Minister Narendra Modi launched multiple developmental initiatives in Navsari, Gujarat, expressing gratitude for the presence and blessings of thousands of women.
• He extended his best wishes to women across the nation, emphasizing the significance of women-led development in India's progress.

Key Announcements and Initiatives

1. Launch of Two Major Schemes in Gujarat:
   • G-SAFAL (Gujarat Scheme for Antyodaya Families for Augmenting Livelihoods) – Financial assistance and entrepreneurial training for SHG women from Antyodaya families.
   • G-MAITRI (Gujarat Mentorship and Acceleration of Individuals for Transforming Rural Income) – Support for startups that focus on rural livelihood enhancement.
2. Direct Benefit Transfers (DBT):
   • Funds from various schemes were directly transferred to women’s bank accounts.
   • Strengthening women’s financial independence and participation in the economy.

RECENT NEWS

• In February 2025, Prime Minister Narendra Modi inaugurated the Global Investors Summit 2025 in Bhopal, unveiling 18 new industrial policies to transform Madhya Pradesh into an investment hub.

Union Home Minister Shri Amit Shah Inaugurates and Lays Foundation Stone for Key Projects at Brahmanand Vidyadham, Junagadh

• Union Home Minister and Minister of Cooperation Shri Amit Shah inaugurated and laid the foundation stone for various projects at Brahmanand Vidyadham, Junagadh, Gujarat.
• Appreciated Shri Muktanand Bapu’s efforts in establishing an educational system from Anganwadi to a medical college for 4,000 students.
• Major inaugurations: Darshan of Somnath Jyotirling, foundation stone of a sugar mill, and a military school.
• Criticized past governments for delaying crucial reforms like Article 370 abrogation, Triple Talaq abolition, Uniform Civil Code, CAA, and Ram Temple construction.
• Highlighted the revival of Kashi Vishwanath Corridor and the renovation of Somnath Temple with gold.

National Security Under Modi Government

• Ensuring national security is the government’s top priority.
• Comparison of past and present security measures:
  • Previous governments ignored terrorist attacks, allowing bomb blasts without response.
  • Under PM Modi’s leadership, surgical strikes and airstrikes were conducted after the Uri and Pulwama attacks, showcasing India's military strength globally.

Agricultural Reforms and Farmer Welfare

• 60-70 crore people in India depend on agriculture.
• Budget allocation for agriculture increased sixfold from ₹22,000 crore in 2013-14 to ₹1.37 lakh crore under the Modi government.
• ₹25 lakh crore provided as loans to farmers to boost agricultural growth.

Major Educational and Healthcare Initiatives

• Inauguration of a Military School, along with the foundation stone for:
  • Staff quarters of Military School and Brahmanand Vidyadham
  • Jai Ambe Hospital projects
  • Medical College
• Contributions of Shri Muktanand Bapu:
  • 450-bed hospital, veterinary hospital, children's institutions, naturopathy center, military school, Anand Dhara project.
  • Provided food for 25,000 people daily during the Kumbh.

RECENT NEWS

• Union Home Minister and Minister of Cooperation, Shri Amit Shah, will launch the BHARATPOL portal developed by the Central Bureau of Investigation (CBI) on January 7, 2025, at Bharat Mandapam, New Delhi.

Karnataka Government Renames Bangalore City University & Announces Higher Education Reforms

• Karnataka Chief Minister Siddaramaiah announced that Bangalore City University would be renamed Manmohan Singh Bengaluru University in honor of the former Prime Minister.
• Government Arts College and Government RC College will be integrated as constituent colleges of the university.
• The announcement regarding the Bengaluru City University (BCU), formerly Bengaluru Central University, a state varsity in Bengaluru formed in 2017 and renamed in 2020, came as the chief minister presented his record 16th Budget on March 7, 2025.

Higher Education Reforms

• 2,000 vacant teaching posts in first-grade colleges and engineering polytechnics to be filled.
• Professors of Practice to be appointed in 16 government engineering colleges to enhance practical knowledge & employability.
• ₹275 crore investment for upgrading infrastructure in government engineering polytechnics & degree colleges.
• ₹10 crore allocated for newly established polytechnics & engineering colleges to procure furniture, equipment, computers, and books.

RECENT NEWS

• In February 2025, Karnataka topped the 2024 Local Governance Performance Index, a significant milestone in the state’s growth and development.
• Lam Research, a leading American semiconductor equipment manufacturer, has announced an investment of over ₹10,000 crore in Karnataka.The announcement was made at the Global Investors Meet: Invest Karnataka 2025, held at Bangalore Palace on February 12, 2025.
• Airtel Payments Bank has announced its partnership with the Karnataka Bulldozers for the Celebrity Cricket League (CCL) 2025, set to begin on February 8, 2025.

CURRENT AFFAIRS: INTERNATIONAL NEWS

Prime Minister Modi to attend Mauritius National Day as chief guest on March 12, 2025

• Prime Minister Narendra Modi will embark on a State Visit to Mauritius from March 11 to 12, 2025, at the invitation of Mauritian Prime Minister Navinchandra Ramgoolam.
• The Ministry of External Affairs stated that PM Modi will attend Mauritius’ National Day celebrations on March 12 as the Chief Guest, marking his first visit to the island nation since 2015.
• India and Mauritius share deep-rooted historical, cultural, and people-to-people ties.
• The visit is framed within India's broader strategic vision—‘Security and Growth for All in the Region’ (SAGAR)—which highlights India’s commitment to the Indian Ocean region.

Key Highlights:

• Participation in National Day Celebrations: A contingent of the Indian Defence Forces will take part in the celebrations, accompanied by a ship from the Indian Navy, reinforcing deep strategic and defense cooperation.
• Bilateral Meetings: PM Modi will call on the President of Mauritius and hold bilateral talks with his Mauritian counterpart. He will also meet senior dignitaries and political leaders to reinforce diplomatic ties.
• Engagement with the Indian-Origin Community: PM Modi will interact with members of the Indian diaspora, acknowledging Mauritius’ historical and cultural ties with India.
• Project Inaugurations: Two key projects—the Civil Service College and the Area Health Centre—constructed with India’s grant assistance, will be inaugurated by PM Modi.
• Signing of MoUs: Several Memorandums of Understanding (MoUs) are expected to be signed, further enhancing bilateral cooperation.

About Mauritius:

• Capital: Port Louis​
• Currency: Mauritian Rupee (MUR)​
• President: Dharam Gokhool
• Prime Minister: Navinchandra Ramgoolam

CURRENT AFFAIRS: STATE

In Karnataka Budget, Chief Minister Siddaramaiah unveils Rs 70,000 crore infrastructure overhaul for Bengaluru

• Karnataka CM Siddaramaiah announced projects worth over ₹70,000 crore to improve Bengaluru’s road infrastructure.

Key Highlights:

• Bruhat Bengaluru Mahanagara Palike (BBMP) Grant Increase: The annual grant for BBMP will be increased from ₹3,000 crore to ₹7,000 crore to tackle infrastructure issues.
• Special Purpose Vehicle (SPV): A new SPV will be created to fast-track development projects and ensure effective fund utilization.
• Tunnel Road Projects: Deputy CM D.K. Shivakumar's tunnel road projects were approved, with a ₹19,000 crore government guarantee for the ₹40,000 crore project. These include:
  • North-South corridor: Hebbal to Silkboard
  • East-West corridor: KR Puram to Nayandahalli
• Metro Fare Hike Omission: The rollback of the metro fare hike was not mentioned in the budget, despite demands from legislators and MPs.
• Major Road and Traffic Projects:
  • 5 km of double-decker flyovers (₹8,916 crore)
  • 300 km of new roads along canal buffer zones (₹3,000 crore)
  • 460 km of arterial and sub-arterial road upgrades (₹660 crore)
  • 120 km of new flyovers and grade separators
  • Namma Metro Phase-3 expansion
• Healthcare Investment: A ₹413 crore Comprehensive Health Programme under “Brand Bengaluru” aims to upgrade the city’s healthcare infrastructure.
• Flood Mitigation: ₹3,000 crore allocated to BBMP and BWSSB for drainage networks and sewage treatment plants (STPs) to combat flooding.

About Karnataka:

• Capital: Bengaluru
• Chief Minister: Siddaramaiah
• Governor: Thaawarchand Gehlot
• National Parks: Bandipur National Park, Nagarhole National Park, Kudremukh National Park, Anshi (Kali) National Park, Bannerghatta National Park
• Wildlife Sanctuaries: Dandeli Wildlife Sanctuary, Bhadra Wildlife Sanctuary, Ranganathittu Bird Sanctuary, Brahmagiri Wildlife Sanctuary, Pushpagiri Wildlife Sanctuary, Cauvery Wildlife Sanctuary

Punjab Government Launches ‘Project Hifazat’ to Protect Women and Children from Violence

• Baljit Kaur, Punjab’s Social Security, Women, and Child Development Minister, launched ‘Project Hifazat’ to provide immediate assistance to women and children affected by violence.
• The initiative includes an integrated emergency helpline system with Women and Child Helpline (181) and Child Helpline (1098) operating round the clock.
• Urgent cases will be directly transferred to the Emergency Response Support System (ERSS-112) for immediate intervention.
• The Minister urged women to save the ‘181’ helpline number in their mobile contacts and assured them that the initiative will help eliminate fear in reporting domestic violence, workplace harassment, and other abuse.
• The project enhances coordination between Punjab Police, the Department of Social Security, Women and Child Development, and the Department of Health and Family Welfare to ensure effective response and victim support.
• The initiative will provide legal aid, medical assistance, psycho-social support, and timely rescue operations for victims of violence.
• The project will be supervised by Deputy Commissioners, with District Program Officers (DPOs) overseeing execution.
• Each district will have dedicated rescue vehicles for on-ground support and response to distress calls.
• A centralized control room in Chandigarh will manage call traffic, disseminate information about government schemes, and generate reports for monitoring and evaluation.

About Punjab:

• Chief Minister: Bhagwant Mann ​
• Governor: Gulab Chand Kataria
• Capital: Chandigarh ​
• Wildlife Sanctuaries: Abohar Wildlife Sanctuary, Aishvan Wildlife Sanctuary, Bir Bhadson Wildlife Sanctuary, Bir Bunerheri Wildlife Sanctuary, Bir Dosanjh Wildlife Sanctuary ​

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Reserve Bank of India grants only one-year extension to IndusInd Bank Chief Executive Officer Sumant Kathpalia

• The Reserve Bank of India (RBI) has granted a one-year extension to Sumant Kathpalia, MD & CEO of IndusInd Bank, despite the Board’s request for a three-year
• This is the second consecutive time that the RBI has approved a shorter tenure instead of a full three-year term.
• IndusInd Bank, in an exchange notification, confirmed RBI’s approval for Kathpalia’s reappointment from March 24, 2025, to March 23, 2026.
• Previously, in March 2023, RBI had approved a two-year extension while the Board had sought a three-year term.
• Similar cases include Vishwavir Ahuja (RBL Bank) and Rana Kapoor (Yes Bank), where RBI refused full-term extensions.
• IndusInd Bank reported weak Q3FY25 results due to stress in the microfinance segment, leading to muted loan growth, lower net interest margins (NIMs), and higher provisioning.
• Gross NPAs rose to 2.3% by the December 2024 quarter, and NIMs declined to 3.93% due to asset quality stress.
• Micro loans, which contribute 9% of IndusInd Bank’s loan book, have been a major source of stress, with 32% of total slippages in Q3FY25 coming from the segment.

Recent News:

• In February 2025, IndusInd Bank unveiled its collaboration with the Professional Golf Tour of India (PGTI) as its official Banking Partner.

About IndusInd Bank:

• Headquarters: Mumbai, Maharashtra, India
• CEO: Sumant Kathpalia
• Founded Year: 1994
• Slogan: "We Make You Feel Richer"

Rajeev Shukla, Ashish Shelar get important roles in Asian Cricket Council

• Rajeev Shukla, BCCI vice-president, has been appointed as an Executive Board Member on the Asian Cricket Council (ACC) Board.
• Shukla fills the vacant spot after Jay Shah stepped down as ACC President following his unopposed election as International Cricket Council (ICC) chairman on December 1, 2024.
• Ashish Shelar, former BCCI treasurer, has been appointed as the BCCI representative on the ACC Board as an Ex-Officio Board Member.
• Sri Lanka Cricket Board chief Shammi Silva has taken over as the President of the ACC following Jay Shah's departure.
• BCCI secretary Devajit Saikia extended best wishes to Rajeev Shukla and Ashish Shelar for their new roles in the ACC.
• Rajeev Shukla recently visited Lahore to watch the Champions Trophy semi-final between New Zealand and South Africa as the BCCI's representative.
• The Asia Cup 2025, in T20 format, is scheduled to be held in the UAE in September 2025.

CURRENT AFFAIRS: DEFENCE NEWS

Ministry of Defence signs $ 248 million Deal for procurement of engines for T-72 Tanks for Indian Army

• The Ministry of Defence (MoD) has signed a $248 million deal with Rosoboronexport (RoE), Russian Federation.
• The contract involves procuring 1000 HP engines for T-72 tanks in fully formed, completely knocked down (CKD), and semi knocked down (SKD)
• The deal includes ToT from Rosoboronexport (RoE) to Armoured Vehicles Nigam Limited (AVNL) (Heavy Vehicle Factory, Avadi, Chennai).
• This enables integration and licensed production of engines in India under the "Make in India"
• The T-72 tank is the backbone of the Indian Army’s tank fleet.
• The current T-72 tanks are equipped with a 780 HP engine.
• Upgrading to 1000 HP engines will improve battlefield mobility and enhance offensive capabilities.
• Strengthens India’s defence self-reliance through local production and technology transfer.
• Enhances the combat readiness of the Indian Army’s armored forces.

Recent News:

• In February 2025, Contracts for advanced munitions for the indigenously developed PINAKA Multiple Launch Rocket System (MLRS), totalling Rs 10,147 crore, were signed between the Ministry of Defence (MoD) and private player Economic Explosives Limited (EEL) and defence public sector undertaking (DPSU) Munitions India Limited (MIL) to enhance the Indian Army's firepower.

About Ministry of Defence:

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

Indian Navy’s Training Squadron Engages in PASSEX and Bilateral Exercises with Royal Thai Navy

• The visit of First Training Squadron (1TS) of the Indian Navy comprising the INS Sujata, INS Shardul and ICGS Veera to Phuket Deep Sea Port in Thailand concluded on March 7, 2025.
• As part of the ongoing training deployment of the 1TS to South East Asia, INS Shardul, INS Sujata and ICGS Veera, had arrived at Phuket Deep Sea Port in Thailand on March 1, 2025.
• PASSEX Exercise: Concluded with coordinated tactical manoeuvres and an exchange of sea riders with HTMS Huahin of the Royal Thai Navy (RTN) on 4th March 2025.

Bilateral Activities at Phuket Deep Sea Port:

• Professional exchanges, training visits, and social interactions between the Indian Navy and RTN.
• Call on Vice Admiral Suwat Donsakul, Commander, 3rd Naval Area Command, by Capt Anshul Kishore, Senior Officer, 1TS, and Commanding Officers of INS Shardul, Sujata, and ICGS Veera.
• Discussions on regional security, joint training exercises, and goodwill activities.

Engagements and Cultural Activities:

• Training interaction for 1TS sea trainees at the 3rd Naval Area Command, Phangna Naval Port, and HTMS Krabi.
• Guided tour of Indian Navy ships for school children, RTN personnel, and the Indian diaspora.
• Cultural and social engagements, including:
  • A combined yoga session
  • Friendly sports fixtures
  • Indian Naval Band concert at Patong Beach, attracting tourists and locals
  • Onboard reception, co-hosted by the Indian Embassy and Senior Officer, 1TS, attended by RTN leadership, Indian diaspora, diplomats, and distinguished guests.

Recent News:

• In February 2025, The Indian Army, in partnership with the Indian Coast Guard and Marine Police, carried out the extensive military exercise 'Jal-Thal-Raksha 2025' at Bet Dwarka, Gujarat.

Indian Navy successfully concludes TROPEX 2025, strengthening maritime readiness

• India successfully conducted the Theatre Level Operational Readiness Exercise (TROPEX) 2025 to enhance maritime security.
• The biennial exercise involved the Indian Navy, Army, Air Force, and Coast Guard in a large-scale military drill.
• Held from January to March 2025, covering vast areas of the Indian Ocean Region (IOR).
• Largest Naval Exercise: Included 65 warships, nine submarines, and over 80 aircraft.
• Integration of Multiple Combat Elements:
• Amphibious operations (AMPHEX), cyber warfare, electronic warfare, and live weapon firings.
• Air Force Assets: Sukhoi-30, Jaguar fighters, C-130 transport aircraft, AWACS surveillance planes.
• Army Participation: An infantry brigade (600+ troops) conducted amphibious landings and beachhead operations.
• Deployment of INS Vikrant: India’s indigenous aircraft carrier led a fleet including:
• Visakhapatnam & Kolkata-class destroyers
• Kalvari-class submarines
• MiG-29K fighters, P-8I patrol aircraft, HALE Sea Guardian drones, MH-60R helicopters
• India’s naval presence safeguards critical sea lanes in the Arabian Sea, Bay of Bengal, and the wider Indo-Pacific.
• Simulated warfare scenarios ensured preparedness against conventional, asymmetric, and hybrid threats.
• Strengthened India’s partnerships with Quad nations (U.S., Japan, Australia), ASEAN allies, and France.
• Response to PLA Navy’s increased presence in the Indian Ocean and spy ship deployments.
• Deployment of offensive tactics, area denial strategies, and multi-theatre force coordination.
• India’s response to China’s naval base in Djibouti, strategic agreements with Pakistan and Sri Lanka, and debt-trap diplomacy tactics in the region.
• India asserts its sovereign rights and security interests in the Indo-Pacific.
• India is prepared to intercept, neutralize, and counter threats from any hostile entity.
• TROPEX 2025 proves that India will not yield its maritime dominance to any expansionist force.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Department for Promotion of Industry and Internal Trade and Mercedes-Benz India Sign MoU to Boost Innovation in Manufacturing, Road Safety, and Sustainability

• The Department for Promotion of Industry and Internal Trade (DPIIT) and Mercedes-Benz India have signed an MoU to enhance manufacturing capabilities, promote road safety, and advance sustainability in India.
• This partnership aims to support startups by providing infrastructure, mentorship, funding opportunities, and market linkages.
• Objectives & Focus Areas:
  • Strengthening manufacturing capabilities in India.
  • Promoting road safety initiatives through technology and innovation.
  • Advancing sustainability by supporting green solutions in the automotive sector.
  • Enhancing industry-academia linkages to drive impactful innovations.
  • Facilitating international collaborations and knowledge exchange for startups.
• Role of DPIIT:
  • Providing a structured framework to support startups in manufacturing, sustainability, and road safety.
  • Enabling mentorship, funding, and market linkages for emerging businesses.
  • Encouraging technological advancements through partnerships with global leaders like Mercedes-Benz.
• Role of Mercedes-Benz India:
  • Leveraging its expertise in automotive innovation to support Indian startups.
  • Engaging in Corporate Social Responsibility (CSR) initiatives to drive meaningful societal impact.
  • Collaborating with incubators and research institutions to develop advanced manufacturing solutions.

RECENT NEWS

• On February 10, 2025, the Department for Promotion of Industry and Internal Trade (DPIIT), and the Korea Transport Institute (KOTI),Republic of Korea, signed a Memorandum of Understanding (MoU) at the Sejong National Research Complex in South Korea.

Australia-India Sports Excellence Forum Inaugurated to Boost Bilateral Sports Collaboration

• Minister of State for Sports, Raksha Khadse inaugurated the Australia-India Sports Excellence Forum at GIFT City, Gujarat.
• The forum aims to enhance sports collaboration by leveraging Australia’s expertise in sports development and adopting best practices for India's sports ecosystem.
• Dignitaries present included Australian High Commissioner Philip Green and Gujarat Sports Minister Harsh Sanghavi.
• Deakin University, which operates a campus at GIFT City, plays a key role in advancing sports education and research.

2. Key Discussion Areas and Objectives

Talent Development & Sports Science

• Nurturing talent from grassroots to elite levels.
• Enhancing sports science and technology for athlete performance.
• Implementing Australian methodologies in coaching programs.

Major Sporting Event Management

• Learning from Australia’s experience in hosting major events.
• Discussing India’s 2036 Olympic bid strategies.
• Exploring event management expertise from the Commonwealth Games and Cricket World Cup.

3. India’s Olympic Ambition & The Forum’s Role

• India aims to host the 2036 Olympic Games, emphasizing its commitment to global sports excellence.
• Discussions at the forum focus on developing world-class training facilities, coaching standards, and sports infrastructure.

About Australia

• Capital: Canberra
• Currency: Australian dollar
• Prime Minister: Anthony Albanese

Coal India & IIT Hyderabad Collaborate for Clean Coal Energy Research

• Coal India Limited (CIL) and IIT Hyderabad (IITH) signed a Memorandum of Understanding (MoU).
• Objective: Establishing the Centre of Clean Coal Energy and Net Zero (CLEANZ) at IIT Hyderabad.
• Focus: Developing clean coal technologies and sustainable utilization of coal in line with India's Net Zero commitments.

 Funding & Government Support

• CIL granted ₹98 Crore to IIT Hyderabad for a five-year duration.
• Union Minister G Kishan Reddy was present at the MoU signing event.
• The project aims to become financially self-sustainable beyond the initial five-year funding.

Research & Development under NaCCER

• The initiative comes under the National Centre for Coal and Energy Research (NaCCER).
• NaCCER is an independent R&D unit under CMPDI (Mine Development & Consultancy Arm of CIL).
• CIL’s R&D Strategy: Supporting reputed government institutions & research organizations.

Key Research Areas Under CLEANZ

• Enhanced Coal Bed Methane & Coal Mine Methane Recovery
• Carbon Capture Technologies & Coal Gasification
• Syngas Utilization & Energy Efficiency
• AI & Machine Learning for Coal Sector Innovation
• Low-Grade Coal Utilization & Beneficiation Technologies

CURRENT AFFAIRS: RANKING AND REPORTS

IndiGo Becomes the World’s Second Fastest-Growing Airline in 2024

• IndiGo Airlines ranked as the world’s second fastest-growing airline regarding seat capacity, which increased by 1% year-on-year (YoY) to 134.9 million seats in 2024.
• Qatar Airways secured the top position with a 10.4% growth in seat capacity.
• IndiGo ranked as the fastest-growing airline globally in terms of flight frequency growth, recording a 7% YoY increase.
• Total flights operated: 749,156 in 2024.

Fleet Expansion & Aircraft Orders

• IndiGo holds one of the world’s largest aircraft orders, with over 900 aircraft on order.
• It received 58 new Airbus aircraft in 2024, the highest among all airlines.
• However, approximately 80 aircraft remain inactive due to MRO-related supply chain issues.

Domestic & International Expansion

• 88% of IndiGo’s capacity is allocated to domestic markets.
• International growth strategy includes expansion in Middle Eastern countries and Thailand.
• Plans for long-haul, low-cost services, with wet lease aircraft identified for a 2025 launch.

Financial Performance (Oct-Dec 2024 Quarter)

• Net profit: ₹2,449 crore, declined by 18% YoY.
• Revenue from operations: ₹22,111 crore, increased by 14% YoY.
• Total income: ₹22,992.8 crore, up 14.6% YoY.
• Total expenses: ₹20,465.7 crore, rose by 19.9% YoY.
• Earnings Before Interest, Tax, Depreciation, and Amortisation (EBITDA): ₹5,178.6 crore, up 0.7% YoY.
• Load factor: 86.9%, higher than 85.8% in the same period last year.

Glass-Ceiling Index: Top 10 best countries for working women in 2025

• International Women’s Day (March 8) highlights progress and challenges in gender equality.
• The Glass-Ceiling Index (GCI) by The Economist ranks countries based on workplace inclusivity for women.
• Sweden reclaims the top spot, surpassing Iceland.
• Japan, Turkey, and South Korea remain at the lower end due to persistent gender gaps.

Global Trends in Women’s Workforce Representation

Political Landscape: A Historic Year for Elections

• Women’s parliamentary representation increased to 34% globally (OECD report).
• Notable shifts in representation:
  • Japan: Increased from 10% to 16%.
  • Britain: Grew from 35% to 41%.
  • United States: Declined slightly to 7%.

Top 10 Best Countries for Working Women in 2025

Key Highlights

• France leads due to progressive workplace policies, parental leave benefits, and boardroom representation.
• Spain and Australia excel in equal pay and leadership opportunities.
• New Zealand is the most improved country, climbing eight places.
• Nordic countries continue to dominate due to strong gender equality laws and work-life balance policies.

Significant Shifts in the 2025 Rankings

Sweden Reclaims the Top Spot

• Sweden surpassed Iceland by implementing:
  • Comprehensive parental leave policies.
  • High female leadership representation.
  • Strong workplace discrimination laws.

South Korea Shows Improvement

• Moved up to 28th place, marking its first positive ranking shift in 11 years.
• New policies aimed at:
  • Reducing the wage gap.
  • Increasing female workforce participation.
• Challenges remain, including societal norms limiting female leadership roles.

Countries at the Bottom of the Index

• Turkey ranks as the worst country for working women due to systemic gender bias and weak workplace protections.
• Japan, Turkey, and South Korea face persistent challenges:
  • Women in management: Below 17%.
  • Female parliamentary representation: Less than 20%.
  • Corporate board representation: Below 21%.

CURRENT AFFAIRS: SPORTS NEWS

Jay Shah Becomes ICC Chairman; Leadership Changes in Asian Cricket Council (ACC)

• Jay Shah’s Transition to ICC Chairman: Served three consecutive terms as ACC President before vacating the position.

• Elected unopposed as ICC Chairman in December 2024.
• Officially assumed office on December 1, 2024.
• His exit led to a leadership reshuffle in the Asian Cricket Council (ACC).

2. Changes in the Asian Cricket Council (ACC)

• Shammi Silva, Sri Lanka Cricket Board chief, took over as ACC President.
• Rajeev Shukla now represents BCCI on the ACC Board.
• Ashish Shelar was also appointed to a key position in the ACC.

3. Rajeev Shukla’s Influence in ACC

• Expected to play a major role in ACC’s decision-making.
• Recently attended the ICC Champions Trophy semi-final in Lahore as BCCI’s representative.

4. India-Pakistan Bilateral Cricket Relations

• Rajeev Shukla emphasized that the resumption of bilateral cricket depends on the Government of India’s decision.
• BCCI’s stance: Bilateral series should be played on home soil, not at neutral venues.

5. Upcoming Asia Cup 2025

• Scheduled for September 2025 in the UAE.
• To be played in T20 format, serving as key preparation for the ICC T20 World Cup 2026.

RECENT NEWS

• In January 2025, Jay Shah, the chairman of the International Cricket Council (ICC), was honored with the prestigious Icon of Excellence award at the 14th Edition of the Forbes India Leadership Awards (FILA 2025).
• In January 2025, the Marylebone Cricket Club (MCC) introduced a new World Cricket Connects advisory board, which will replace the club’s previous World Cricket Committee. In a significant development for global cricket, Jay Shah, the current ICC Chair and former Secretary of the BCCI, has been named as one of the 13 founding members of the newly formed advisory board.

CURRENT AFFAIRS: IMPORTANT DAYS

CISF Raising Day: March 10

• CISF Raising Day 2025 is observed on March 10th, 2025.

History

• CISF was formed on March 10, 1969, under the CISF Act of the Parliament of India.
• It started with as many as 2,800 personnel for the better protection and security of industrial undertakings in the country.
• Three battalions were formed to provide integrated security cover to the Public Sector Undertakings (PSUs) which, in those years, occupied the commanding heights of the economy.

Daily CA One-Liner: March 9 and 10

• On the occasion of International Women’s Day March 8, 2025, Prime Minister Narendra Modi launched multiple developmental initiatives in Navsari, Gujarat, expressing gratitude for the presence and blessings of thousands of women
• Union Home Minister and Minister of Cooperation Shri Amit Shah inaugurated and laid the foundation stone for various projects at Brahmanand Vidyadham, Junagadh, Gujarat
• Karnataka Chief Minister Siddaramaiah announced that Bangalore City University would be renamed Manmohan Singh Bengaluru University in honor of the former Prime Minister
• The Department for Promotion of Industry and Internal Trade (DPIIT) and Mercedes-Benz India have signed an MoU to enhance manufacturing capabilities, promote road safety, and advance sustainability in India
• Minister of State for Sports, Raksha Khadse inaugurated the Australia-India Sports Excellence Forum at GIFT City, Gujarat
• Coal India Limited (CIL) and IIT Hyderabad (IITH) signed a Memorandum of Understanding (MoU)
• IndiGo Airlines ranked as the world’s second fastest-growing airline regarding seat capacity, which increased by 10.1% year-on-year (YoY) to 134.9 million seats in 2024
• International Women’s Day (March 8) highlights progress and challenges in gender equality
• Jay Shah’s Transition to ICC Chairman: Served three consecutive terms as ACC President before vacating the position
• The Reserve Bank of India (RBI) has imposed a total penalty of ₹76.6 lakh on four non-banking financial companies (NBFCs) for non-compliance with its Peer-to-Peer (P2P) lending platform regulations.
• SBI Life Insurance, one of India's most trusted private life insurers, has launched two new child products, 'SBI Life - Smart Future Star' and 'SBI Life - Smart Platina Young Achiever', specifically curated to empower parents in securing their child's future aspirations.
• Prime Minister Narendra Modi will embark on a State Visit to Mauritius from March 11 to 12, 2025, at the invitation of Mauritian Prime Minister Navinchandra Ramgoolam.
• Karnataka CM Siddaramaiah announced projects worth over ₹70,000 crore to improve Bengaluru’s road infrastructure.
• Dr. Baljit Kaur, Punjab’s Social Security, Women, and Child Development Minister, launched ‘Project Hifazat’ to provide immediate assistance to women and children affected by violence.
• The Reserve Bank of India (RBI) has granted a one-year extension to Sumant Kathpalia, MD & CEO of IndusInd Bank, despite the Board’s request for a three-year
• Rajeev Shukla, BCCI vice-president, has been appointed as an Executive Board Member on the Asian Cricket Council (ACC) Board.
• The Ministry of Defence (MoD) has signed a $248 million deal with Rosoboronexport (RoE), Russian Federation.
• The visit of First Training Squadron (1TS) of the Indian Navy comprising the INS Sujata, INS Shardul and ICGS Veera to Phuket Deep Sea Port in Thailand concluded on March 7, 2025.
• India successfully conducted the Theatre Level Operational Readiness Exercise (TROPEX) 2025 to enhance maritime security.
• CISF Raising Day 2025 is observed on March 10th, 2025