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CURRENT AFFAIRS: BANKING & FINANCE

State Bank of India Unveils ‘Asmita’ Loan, ‘Nari Shakti’ Debit Card To Empower Women

• In a significant move to support women entrepreneurs across India, the State Bank of India (SBI) has launched 'Asmita', a collateral-free digital loan designed exclusively for women-led micro, small, and medium enterprises (MSMEs).
• The initiative, unveiled on the eve of International Women's Day, aims to provide easy access to finance at low-interest rates, along with comprehensive support to help women entrepreneurs scale their businesses.

Why Was 'Asmita' Introduced?

• The launch of Asmita comes after a TransUnion CIBIL report highlighted the low participation of women in business borrowing.
• The data revealed:
• Only 3% of women's borrowings were for business purposes.
• 42% of borrowings were for personal finance products (such as personal loans and home loans).
• 38% of borrowings were against gold, showing the need for dedicated financial products to support women entrepreneurs.

Key Features of SBI Asmita Scheme

• Customized Financing – Loan amounts tailored to different business needs.
• Collateral-Free Loans – No need to pledge assets for securing funding.
• Financial Literacy & Support – Guidance on business growth and financial management.
• Low Interest Rates – Affordable repayment options to ease financial burdens.
• Paperless Process – Fully digital and hassle-free application process.
• Entrepreneurial Training – Top borrowers will get a chance to participate in skill development programs to enhance their business acumen.

'Nari Shakti' Platinum Debit Card: A Step Towards Inclusion

• Alongside Asmita, SBI has also introduced the 'Nari Shakti' RuPay Debit Card, made entirely from recycled plastic as part of the bank’s sustainability initiatives.
• Key Benefits of 'Nari Shakti' Debit Card:
• Exclusive benefits on shopping, travel, entertainment, and insurance
• Designed to cater to the changing financial and lifestyle needs of women

SBI’s Other Women-Centric Business Schemes

Stand-Up India Scheme

• This initiative provides business loans for women entrepreneurs, particularly from SC/ST and OBC backgrounds.

🔹 Loan Amount – ₹10 lakh to ₹1 crore
🔹 Interest Rate – Bank MCLR + 3% + tenor premium
🔹 Loan Tenure – Up to 7 years, with a maximum moratorium period of 18 months
🔹 Processing Fee – 0.20% of loan amount + applicable GST
🔹 Eligibility:

• Women above 18 years can apply.
• For non-individual enterprises, at least 51% shareholding must be held by SC/ST or women entrepreneurs.
• Business should be an existing venture (not a startup).

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"

Star Health Insurance Launches ‘SheTARA’ Campaign to Mark International Women’s Day

• Star Health Insurance launches the “SheTARA” health campaign in Tamil Nadu to celebrate International Women’s Day.
• This initiative aims to raise people’s awareness of preventative healthcare solutions and recruit more women as insurance agents.
• This is a crucial step as Tamil Nadu’s factories employ nearly 42% of India’s women workers (6.3 lakh).

About the SheTARA Health Initiative

• Star Health Insurance will organise 40+ camps across Tamil Nadu.
• These camps will provide essential health screening services to women at subsidised rates.
• This will include tests for measuring thyroid function, haemoglobin levels, blood sugar, blood pressure, and bone mineral density.
• The company will also host a special webinar to explain how women can achieve work-life balance and prioritise their health in the age of AI.
• The event will be led by a prominent gynaecologist.
• Besides, it will also host a flagship event at its Anna Nagar branch (Chennai) to recognise the contribution of its women employees.

About Star Health Insurance

• Star Health Insurance is one of India’s leading health insurance companies operating since
• It also provides comprehensive insurance solutions for patients with cancer, diabetes, and cardiac illnesses.
• It has a robust distribution network, including 14000+ network hospitals, 910 offices, and over 7.6 lac+ agents.

Dentons Link Legal Advises Axis Bank On India's First Aircraft Financing Under GIFT City Framework By An Indian Bank

• Axis Bank became the first Indian bank to execute an aircraft financing transaction through its IBU at GIFT City IFSC.
• Client – The deal was completed for AI Fleet Services Ltd (AIFS), Air India’s leasing arm.
• Aircraft Purchase – A long-term USD loan was provided for the acquisition of 34 training aircraft for Air India’s pilot training institute in Amravati, Maharashtra.
• Boosting Aviation Training – The facility will be one of India's largest pilot training hubs, strengthening aviation infrastructure.
• Strengthening Domestic Aviation Finance – Historically dominated by multinational banks, this move enhances India's self-reliance in aviation financing.
• Reinforcing GIFT City’s Position – The deal establishes GIFT City as an emerging hub for aviation leasing and financing.
• All Key Stakeholders in GIFT City – For the first time, Lender, Borrower, Law Firm, Facility Agent, and Security Agent are all based in GIFT City.
• 'One Axis' Approach – Axis Trustee acted as Facility Agent and Security Trustee, delivering an integrated financial solution.

Recent News:

• In February 2025, Axis Bank pledged ₹104 crore over four years to Ashoka University to enhance its PhD and Post-Doctoral research programs.

About Axis Bank:

• Founded Year: 1993
• Headquarters: Mumbai, Maharashtra, India
• CEO: Amitabh Chaudhry
• Slogan: "Badhti Ka Naam Zindagi" (A Life of Progress)

CURRENT AFFAIRS: NATIONAL NEWS

Madhav National Park Declared as India’s 58th Tiger Reserve

• India has officially designated Madhav National Park in Madhya Pradesh as its 58th Tiger Reserve.
• Announced by Union Environment Minister Bhupender Yadav, this development reinforces Madhya Pradesh’s status as the ‘Tiger State’ of India, bringing its total number of tiger reserves to nine.

Location & Geographic Significance

• Situated in Shivpuri district, within the Gwalior-Chambal region.
• Features a diverse ecosystem of dry deciduous forests, grasslands, and water bodies.
• Total area: 1,751 sq km
  • Core Area: 375 sq km
  • Buffer Zone: 1,276 sq km
• Strengthens wildlife corridors and promotes ecological balance.

Current Tiger Population & Reintroduction Efforts

• Five tigers currently reside in the reserve, including two newly born cubs.
• Tiger reintroduction project (2023) relocated three tigers (two females).
• Plans to introduce two more tigers to boost genetic diversity and sustainability.

Conservation & Ecological Impact

• Tiger Protection: Expands habitat for Bengal tigers.
• Biodiversity Conservation: Home to leopards, sloth bears, deer, and diverse bird species.
• Environmental Sustainability: Helps in forest restoration and maintaining the Chambal region’s ecology.
• Wildlife Tourism & Economy: Expected to boost eco-tourism and generate employment.

India’s Leadership in Tiger Conservation

• Project Tiger (1973) has played a crucial role in conservation.
• India now has 58 tiger reserves under the National Tiger Conservation Authority (NTCA).
• Holds over 75% of the world’s tiger population, reinforcing its commitment to wildlife protection.

RECENT NEWS

• In a major step to support the agricultural community in Madhya Pradesh, Chief Minister Mohan Yadav announced on Sunday, March 3, 2025, that farmers across the state will soon receive permanent power connections for a nominal fee of just Rs 5.
• Madhya Pradesh has emerged as the state with the highest vulture population in India, marking a major success in wildlife conservation. According to the first phase of the 2025 vulture census, the state’s vulture population has reached 12,981, a significant increase from 10,845 in 2024 and 8,397 in 2019.
• In February 2025, Madhya Pradesh took a major step in India’s economic landscape by introducing the country’s first dedicated Global Capability Centers (GCC) Policy 2025.

Raksha Mantri Rajnath Singh Becomes First Defence Minister to Visit Institute of Aerospace Medicine, Bengaluru

• Raksha Mantri Shri Rajnath Singh made history by becoming the first Defence Minister of India to visit the Institute of Aerospace Medicine (IAM) of the Indian Air Force (IAF) in Bengaluru, Karnataka.
• His visit emphasized the critical role of aerospace medicine in India's defence and aviation sectors.
• During the visit, he was briefed on IAM’s contributions to pilot training, aeromedical research, and medical evaluation of Air Force personnel.
• He also inaugurated a new research project on space psychology, highlighting India’s growing focus on space medicine as the country advances in both aerospace and space exploration.

Institute of Aerospace Medicine (IAM) – A Hub for Aeromedical Research

IAM is a premier aerospace medicine institute under the Indian Air Force, dedicated to:

• Research and training in aeromedical sciences.
• Ensuring the physiological and psychological well-being of fighter pilots and astronauts.

Launch of Space Psychology Research Project

One of the key highlights of the visit was the launch of a major research initiative – the Indian Council of Medical Research (ICMR) Extramural Research Project: Centre for Advanced Research.

Key Focus Areas of the Project

• Psychological selection of astronauts for Indian space missions.
• Behavioral health training to prepare astronauts for mental and emotional challenges during space travel.
• Research on psychological resilience, isolation effects, and stress management during long-duration space missions.

IAM’s Contributions to Indigenous Defence Projects

Shri Rajnath Singh commended IAM for its contributions to India’s self-reliance in aerospace and defence. The institute has played a critical role in:

• Aero-medical consultancy for crew module design and development.
• Enhancing cockpit ergonomics and safety measures.
• Supporting the development of indigenous aircraft, including:
  • Advanced Light Helicopter (ALH)
  • Light Utility Helicopter (LUH)
  • Light Combat Helicopter (LCH)
  • Light Combat Aircraft (LCA) Tejas
  • Advanced Medium Combat Aircraft (AMCA) (under development)

RECENT NEWS

• In a significant move to promote the use of Hindi in official communications, Raksha Mantri Shri Rajnath Singh released the first edition of the Ministry of Defence’s (MoD) bi-annual Hindi magazine ‘Sashakt Bharat’. The launch event took place on February 27, 2025, at South Block, New Delhi.
• In January 2025, Raksha Mantri Shri Rajnath Singh flagged off ‘SANJAY – The Battlefield Surveillance System (BSS)’ from the South Block, New Delhi.

Union Minister of Power and Housing & Urban Affairs Shri Manohar Lal Inaugurates GRIDCON 2025

• Union Minister of Power and Housing & Urban Affairs, Manohar Lal, inaugurated GRIDCON 2025 – The International Conference cum Exhibition on 9th March 2025 at IICC, Yashobhoomi, Dwarka, New Delhi.
• He was joined by Union Minister of State for Power & New & Renewable Energy, Sh. Shripad Yesso Naik.
• Organized by Power Grid Corporation of India Limited (POWERGRID) from 9th–11th March 2025, the event is being held under the patronage of the Ministry of Power in collaboration with CIGRE India.

Key Highlights

• Global Participation: GRIDCON 2025 features over 2,000 delegates, 150 technical papers, 150 exhibitors, and representatives from 30 countries.
• Inaugural Ceremony: Attended by R.K. Tyagi (CMD, POWERGRID), senior officials from the Ministry of Power, POWERGRID, and other power sector PSUs.
• Conference Theme: "Innovations in Grid Resilience", focusing on cutting-edge technologies, infrastructure, and smart solutions for energy generation, transmission, and distribution.
• Key Topics:
  • Renewable Energy Integration
  • Grid Resilience & Stability
  • Asset Management & Digital Transformation
  • Smart Grid Technologies

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Vikas Kaushal Becomes Hindustan Petroleum Chairman and Managing Director (CMD) After Leading Kearney India

• Vikas Kaushal has been appointed as the Chairman and Managing Director (CMD) of HPCL for a five-year term.
• He replaced Rajneesh Narang, who was handling the additional charge of CMD since September 1, 2024.
• Over 30 years of experience in energy, oil & gas, and power sectors.
• Served two terms on Kearney’s global board of directors and was the only Indian considered for the selection.

About Vikas Kaushal:

• Worked as Managing Director and Country Head for Kearney India for five years.
• Chemical Engineering graduate from Panjab University and MBA from Indian Institute of Management (IIM) Ahmedabad.
• Led a five-year digital transformation programme at Indian Oil Corporation (IOC), winning awards for Best Digital Oil Company.
• Spearheaded strategy projects in petrochemicals, gas, and refinery maintenance at IOC.
• Led Dhruva retail transformation and cost optimization in the lubes business at IOC.
• Established the centralized procurement office at HPCL, improving efficiency and savings.
• Led petrochemical diversification strategy at HPCL.
• Spearheaded net-zero planning and petchem strategy at BPCL.
• Implemented corporate plans and reliability-centered maintenance strategies at NTPC & Tata Power.
• Designed and executed a 2 GW+ business expansion for a global renewable energy firm in India.

Mark Carney wins race to replace Justin Trudeau as Canada's Prime Minister

• Mark Carney has been announced as the next Liberal Party leader and the 24th Prime Minister of Canada, succeeding Justin Trudeau.
• The announcement was made by Liberal Party President Sachit Mehra after Carney won the leadership race with 131,674 votes (85.9%).
• His competitors included Chrystia Freeland (11,134 votes), Karina Gould (4,785 votes), and Frank Baylis (4,038 votes).
• Carney has previously served as Governor of the Bank of Canada (2008–2013) and Governor of the Bank of England (2013–2020).
• He also chaired the Financial Stability Board (2011–2018) and worked at Goldman Sachs before moving into central banking.
• He is credited with helping Canada navigate the 2008 financial crisis, making him one of the most respected economic leaders.
• Born in Fort Smith, Northwest Territories, Carney attended Harvard University, where he was also a star ice hockey player.

CURRENT AFFAIRS : STATE NEWS

Mahila Samriddhi Yojana: Delhi government approves scheme to give ₹2,500 to eligible women

• The Delhi government, led by Chief Minister Rekha Gupta, has approved the Mahila Samriddhi Yojana in a cabinet meeting held on March 8, 2025.
• Announcing the decision on International Women’s Day, CM Gupta stated that the ruling Bharatiya Janata Party (BJP) has fulfilled its election promise of providing ₹2,500 per month to eligible women in the national capital.

Key Announcements and Budget Allocation

• A provision of ₹5,100 crore has been made in the Delhi Budget 2025-26 for the implementation of the scheme.
• A committee, led by the Chief Minister, has been formed to oversee the execution of the scheme.
• A dedicated online portal will soon be launched to facilitate the registration process for beneficiaries.

Implementation & Eligibility Details

• While announcing the scheme, CM Rekha Gupta did not specify the eligibility criteria or the total number of beneficiaries.
• However, Delhi BJP President Virendraa Sachdeva assured that the financial assistance would reach poor women in the national capital soon.
• Delhi Minister Manjinder Singh Sirsa further added that detailed guidelines regarding eligibility and other aspects of the scheme will be shared soon.
• A three-member ministerial committee, comprising Kapil Mishra, Ashish Sood, and Pravesh Verma, has been set up to finalize the eligibility criteria and implementation process.

About Delhi:

• Chief Minister: Rekha Gupta
• Lieutenant Governor: Vinai Kumar Saxena
• Capital: New Delhi
• Wildlife Sanctuaries: Asola Bhatti Wildlife Sanctuary, Yamuna Biodiversity Park, Aravalli Biodiversity Park

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

Government Launches AI Kosha to Strengthen AI Development

• The AI Kosha initiative is a significant step in India’s AI development strategy.
• It serves as a non-personal data repository with 316 datasets to aid AI model development, focusing on Indian languages to support the creation of translation tools for linguistic inclusivity.
• It is part of the broader ₹10,370 crore IndiaAI Mission, which promotes AI innovation.
• India has also expanded its AI compute infrastructure by commissioning 14,000 GPUs, an increase from 10,000, with quarterly expansions planned.
• The initiative provides pooled access to these GPUs for startups and academia to facilitate AI model training and deployment.
• Additionally, India is working on developing its own homegrown AI model, inspired by China's DeepSeek, to create cost-effective AI solutions.
• The Open Governance Data Platform, hosting over 12,000 datasets, plays a crucial role in AI research and cross-sector data sharing.
• However, the issue of non-personal data sharing remains a challenge.
• A 2018 committee led by Kris Gopalakrishnan proposed mandatory data sharing by private firms, but this faced industry resistance.
• The rise of Large Language Models (LLMs) has renewed discussions on ethical and strategic data-sharing frameworks.
• This initiative positions India as a potential global leader in AI.

CURRENT AFFAIRS: DEFENCE NEWS

Indian Army Contingent Departs for Joint Special Forces Exercise ‘Khanjar-XII’ with Kyrgyzstan

• The 12^thedition of the India-Kyrgyzstan Joint Special Forces Exercise KHANJAR-XII is set to take place in Kyrgyzstan from 10 March to 23 March 2025.
• Since its inception in 2011, Ex KHANJAR XII has evolved into an annual training event.
• The alternating venues between India and Kyrgyzstan reflect the unique dimension of the thriving strategic relationship.
• The last edition of the same exercise was conducted in India in January 2024.
• The Indian contingent is represented by troops from The Parachute Regiment (Special Forces) and the Kyrgyzstan contingent is represented by Kyrgyz Scorpion Brigade.
• Aim of the exercise is to exchange experiences and best practices in Counter Terrorism and Special Forces Operations in urban and mountainous high altitude terrain scenarios.
• The exercise will also focus on developing advanced Special Forces skills of sniping, complex building intervention and mountain craft.
• Beyond rigorous training, the exercise will feature vibrant cultural exchanges, including celebration of the Kyrgyz festival Nowruz.
• This interaction will further cement the bond of friendship between the two nations.
• The exercise will provide an opportunity for both sides to fortify defence ties while addressing common concerns of international terrorism and extremism.
• The exercise reaffirms the commitment of India and Kyrgyzstan to fostering peace, stability, and security in the region.

Recent News:

• Dr Mayank Sharma assumed the office of Controller General of Defence Accounts (CGDA) on March 01, 2025.

About Ministry of Defence:

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

CURRENT AFFAIRS: MOUS AND AGREEMENT

HDFC Bank Expands Project NAMAN to Support Army Veterans

• HDFC Bank, in partnership with the Indian Army and CSC Academy, has renewed its Memorandum of Understanding (MoU) to expand Project NAMAN—a dedicated initiative aimed at supporting Army veterans, their families, and their next of kin.
• The initiative will establish Common Service Centres (CSCs) across 26 Directorate of Indian Army Veterans (DIAV) locations, offering pension services, Government-to-Citizen (G2C) services, and Business-to-Consumer (B2C) services.
• This expansion is part of HDFC Bank’s Parivartan programme, which focuses on economic inclusiveness for veterans and their families.

Key Highlights of Project NAMAN Expansion

About the Initiative

• Supports Army veterans, their families, and next of kin by providing financial and administrative assistance.
• CSC centers will be operated by veterans or their families, ensuring direct engagement and economic empowerment.
• Key services include:
  • Pension-related assistance
  • G2C services (government schemes, Aadhaar, PAN, etc.)
  • B2C services (financial products, utility payments, etc.)

MoU Renewal & Stakeholders

The tripartite MoU was renewed between:

• HDFC Bank Limited (under its Parivartan CSR programme)
• Directorate of Indian Army Veterans (DIAV)
• CSC Academy

Key Officials Present:

• Satyen Modi, EVP & Business Head, Alternate Banking Channels – HDFC Bank
• Pravin Chandekar, CEO – CSC Academy
• Brigadier, Directorate of Indian Army Veterans
• Senior officials from HDFC Bank, CSC Academy, and the Indian Army

Phase-Wise Expansion

First Phase (September 2023)

• 14 DIAV locations were selected for the initial launch of Common Service Centres (CSCs).

Second Phase (March 2025)

• The project expands to 26 DIAV locations across:
  • Rajasthan, West Bengal, Himachal Pradesh, Maharashtra, Gujarat, Madhya Pradesh, Punjab, Jammu & Kashmir, Meghalaya, Bihar, Odisha, and New Delhi.

RECENT NEWS

• In March 2025, HDFC Bank, under its Parivartan initiative, signed a Memorandum of Understanding (MoU) with the Indian Air Force (IAF) and CSC Academy to launch Project HAKK (Hawai Anubhavi Kalyan Kendra).
• In January 2025, HDFC Bank, India’s largest private sector lender, received the Reserve Bank of India’s (RBI) approval to acquire up to a 9.5% stake in Kotak Mahindra Bank, AU Small Finance Bank, and Capital Small Finance Bank.

India-EU Trade Negotiations Face Hurdles Over Environmental and Economic Policies

• The India-EU Free Trade Agreement (FTA) negotiations have hit roadblocks due to the European Union's (EU) stringent environmental and economic regulations, according to a report by the Global Trade Research Initiative (GTRI).
• Key issues include the Carbon Border Adjustment Mechanism (CBAM), data protection, investment regulations, and labor laws, which could impose additional costs on Indian exports.
• India and the 27-nation EU bloc are set to begin the 10th round of negotiations in Brussels from March 11, 2025.

Key Challenges in India-EU FTA Talks

1. Environmental Regulations & Carbon Tax

• Carbon Border Adjustment Mechanism (CBAM) will impose a 20-35% tariff on Indian steel, aluminum, and cement
• India fears EU goods would enter duty-free, while Indian exports would still face indirect barriers.
• India is demanding clear exemptions or compensatory measures to neutralize the impact of CBAM.

2. Digital Trade & Data Protection

• The EU restricts remote online services (Mode 1) by requiring Indian firms to set up local offices and follow high salary thresholds.
• India demands recognition as a ‘data secure country’ under the General Data Protection Regulation (GDPR) to reduce compliance costs for Indian IT firms.
• The EU wants India to align its data protection laws with GDPR, but India argues that its Digital Personal Data Protection Act, 2023, should suffice.

3. Market Access & Investment Barriers

• The EU wants greater access to India’s banking, legal, accountancy, and financial services.
• India is demanding easier visas (Mode 4) for Indian professionals and recognition of Indian qualifications through Mutual Recognition Agreements (MRAs).
• The EU seeks access to India’s government procurement market, but India is reluctant, as the EU’s own procurement market is largely closed to external firms.

4. Investment & Labor Laws

• India has proposed its Model Bilateral Investment Treaty (BIT), but the EU wants relaxed investment protection clauses.
• The EU insists on binding commitments on labor rights and environmental sustainability, while India prefers a flexible, best-effort approach.
• The EU also seeks stronger labor laws, including provisions on collective bargaining, workplace safety, and wages.

5. Intellectual Property Rights (IPR) & Geographical Indications (GIs)

• The EU is pushing for TRIPS-plus provisions, which would strengthen patent protections and extend data exclusivity for pharmaceutical companies.
• India opposes these demands, as they could raise drug prices and harm India’s generic medicine industry.
• The EU wants automatic recognition of European Geographical Indications (GIs) like Champagne, Roquefort cheese, and Prosciutto di Parma, but India insists that all products follow its standard GI registration process.

India-EU Trade Potential & Economic Impact

• EU’s Economy: $18.4 trillion GDP, 448 million population, exports over $2.9 trillion annually.
• India’s Economy: $3.9 trillion GDP, 1.4 billion population, exports $437 billion, imports $678 billion (FY 2024).
• The FTA could significantly boost trade and investment, but disputes over regulations remain major obstacles.

Prime Minister Shri Narendra  Modi’s Visit to Mauritius: Strengthening Bilateral Ties

• Prime Minister Shri Narendra Modi's visit to Mauritius (March 11-12, 2025) highlights the long-standing India- Mauritius relations and provides an opportunity to reaffirm India's support for the island nation's security and economic prosperity.
• He will be the Guest of Honour at Mauritius’ Independence Day celebrations on March 12.

Key Highlights of India-Mauritius Relations

1. Historical and Cultural Ties

• Indentured Labor Heritage (1834 Onwards): Nearly 70% of Mauritians are of Indian origin, tracing their roots to British-era indentured laborers.
  • Example: The Aapravasi Ghat in Port Louis (a UNESCO World Heritage Site) marks their arrival point.
• Freedom Struggles Connection:
  • Sir Seewoosagur Ramgoolam, Mauritius’ first PM, worked with Netaji Subhas Chandra Bose in London (1919-21).
  • Example: He proofread Bose’s book “The Indian Struggle” and received a signed copy in appreciation.
• Linguistic and Cultural Preservation:
  • Indian languages such as Bhojpuri, Tamil, Telugu, and Marathi are actively spoken and preserved.
  • Example: The Mahatma Gandhi Institute (1976) promotes Indian languages, arts, and culture.
• Religious & Festival Ties:
  • Over 48% of Mauritians practice Hinduism.
  • Example: Ganga Talao (Grand Bassin) is a revered pilgrimage site, especially during Maha Shivaratri.
• Diplomatic & Institutional Links:
  • Example: Mauritius hosts the World Hindi Secretariat, supported by India for global Hindi promotion.

2. Maritime Security Cooperation

• Strategic Indian Ocean Location: Mauritius sits at a key maritime crossroads, crucial for trade security.
  • Example: It is part of the Colombo Security Conclave (India, Mauritius, Sri Lanka, Maldives, Bangladesh).
• Countering China’s Growing Influence: India’s presence balances China's Indian Ocean expansion.
  • Example: India’s Agaléga Island redevelopment enhances maritime surveillance.
• Exclusive Economic Zone (EEZ) Protection:
  • Mauritius has an EEZ of 3 million sq. km, rich in marine resources.
  • Example: INS Sarvekshak mapped 25,000 sq. km of Mauritius’ EEZ to aid maritime security.
• Joint Surveillance & Intelligence Sharing: Enhances security against piracy, smuggling, and trafficking.
  • Example: Mauritius has access to India’s IFC-IOR (Information Fusion Centre - Indian Ocean Region) in Gurugram.
• Disaster Relief & Humanitarian Assistance: Close ties enable swift response to maritime disasters.
  • Example: India aided Mauritius during the MV Wakashio oil spill (2020).

3. India’s Investments in Maritime Infrastructure

• Agaléga Island Development:
  • India is building airstrips and port facilities for surveillance and regional security.
  • Example: Strengthens anti-piracy and anti-smuggling operations.
• Coastal Radar Surveillance Network:
  • Example: India has installed radar stations in Mauritius for real-time monitoring of IOR threats.
• Access to IFC-IOR:
  • Example: Mauritius can now track maritime traffic and safeguard its EEZ.

4. Economic Partnership & Double Taxation Avoidance Agreement (DTAA)

• Facilitating Foreign Investments:
  • The DTAA prevents double taxation, boosting foreign investment via Mauritius.
  • Example: As of March 2024, Mauritius was India’s 4th-largest FPI source, contributing ₹4.19 lakh crore.
• Strengthening Mauritius as a Financial Hub:
  • The DTAA enables Mauritius to act as a financial gateway for investments into India & Africa.
  • Example: Many private equity and VC funds operate through Mauritius for tax benefits.
• Impact of Treaty Amendments:
  • In March 2024, India and Mauritius introduced the Principal Purpose Test (PPT) to prevent tax treaty abuse.
  • Example: Following this, FPIs withdrew ₹8,671 crore from Indian equities in April 2024 due to concerns over revised taxation.

CURRENT AFFAIRS: SPORTS NEWS

Indian football icon Sunil Chhetri Reverses Retirement, Returns to Indian Football at 40

• Indian football icon Sunil Chhetri has made a sensational comeback to the national team at the age of 40, reversing his retirement decision from June 2024.
• The all-time leading goal scorer for India had previously bid farewell after a World Cup qualifier against Kuwait.
• However, recognizing his experience and leadership, head coach Manolo Marquez has recalled Chhetri to strengthen India's campaign for the 2027 AFC Asian Cup qualification.

Sunil Chhetri: A Legendary Career

Career Highlights

• International Debut: 2005, against Pakistan (scored India’s only goal).
• Most-Capped Indian Player: Over 140 international appearances.
• Fourth-Highest International Goal Scorer (Men’s): Over 90 goals, ranking alongside Cristiano Ronaldo, Lionel Messi, and Ali Daei.

Club Career

• Played for Kansas City Wizards (USA) and Sporting CP B (Portugal).
• Spent most of his career with Bengaluru FC (India).
• Almost joined Queens Park Rangers (England) in 2009 but was denied a work permit.

Why is Chhetri Returning?

• India aims to qualify for the 2027 AFC Asian Cup.
• Coach Manolo Marquez personally convinced Chhetri to return for crucial matches.
• Upcoming Fixtures:
  • India vs Maldives – March 19, 2025.
  • India vs Bangladesh – March 25, 2025.

India Clinches Third ICC Champions Trophy Title

• India made history by winning the ICC Champions Trophy for the third time after defeating New Zealand in the final.
• Chasing 252 runs, India secured victory at 252/6, showcasing skill, resilience, and teamwork.

Match Summary: India vs New Zealand (Final)

• Venue: Dubai International Cricket Stadium
• Toss: New Zealand won and opted to bat
• Result: India won by 4 wickets

Player of the Match & Tournament

Award	Player
Player of the Match	Rohit Sharma
Player of the Tournament	Rachin Ravindra (263 Runs)

India’s ICC Champions Trophy Titles

Year	Opponent	Result
2002	Sri Lanka	Joint Winners
2013	England	India Won
2025	New Zealand	India Won

Top Performers in ICC Champions Trophy 2025

Top Wicket-Takers

Player	Team	Wickets	Best Performance
Matt Henry	NZ	10	5/42 vs SA
Varun Chakaravarthy	IND	9	5/42 vs ENG
Mohammed Shami	IND	9	5/53 vs AUS
Mitchell Santner	NZ	9	3/43
Michael Bracewell	NZ	8	4/26

Top Run-Scorers

Batter	Team	Runs	Avg	Strike Rate	Best Score
Rachin Ravindra	NZ	263	68.75	106.47	122
Shreyas Iyer	IND	243	48.60	79.41	99
Ben Duckett	ENG	227	75.66	108.61	165
Joe Root	ENG	225	75.00	96.56	120
Virat Kohli	IND	218	54.50	82.88	100*

RECENT NEWS

• In March 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).

Pranav Venkatesh Wins 2025 World Junior Chess Championship

• Indian chess continues to shine as Grandmaster Pranav Venkatesh from Bengaluru secured the 2025 World Junior Chess Championship title in Petrovac, Montenegro.
• The 18-year-old finished unbeaten with a score of 9/11 (7 wins, 4 draws) in a competitive field of 157 players.
• In the decisive final round, Pranav played a draw against Lavrencic Matic (Slovenia) to clinch the title.
• This triumph cements his place among India's chess greats.

Following the Path of Legends

Pranav Venkatesh joins an elite group of Indian chess players who have previously won the World Junior Chess Championship.

Indian Champions in World Junior Chess

Year	Winner	Category
1987	Viswanathan Anand	Open
2001	Koneru Humpy	Girls
2004	Pentala Harikrishna	Open
2008	Abhijeet Gupta	Open
2008	Harika Dronavalli	Girls
2024	Divya Deshmukh	Girls
2025	Pranav Venkatesh	Open

About Pranav Venkatesh

• Born: Bengaluru, India
• Grandmaster Title: Achieved in August 2022 (India’s 75th Grandmaster)
• Current Elo Rating: 2615 (Live Rating: 2628.3, World Rank: 111)
• Coaches: Trained under Viswanathan Anand at Westbridge Anand Chess Academy (WACA), earlier trained at BS Chess Academy, T Nagar Chess Academy, and with mentors like Vishnu Prasanna, Vijay Anand, FM FT K Visweswaran, among others.

Key Achievements

• Challengers Title at Chennai Grand Masters (2024)
• Double Gold in World Youth U-18 Open Rapid & Blitz (2024)
• First Two GM Norms:
  • Serbia Open (2021)
  • Vezerkepzo GM Tournament (2022)
• Final GM Norm & Title: Limpedea Open, Romania (2022)

A Golden Day for Indian Chess

On the same day that Pranav won his world junior title, Aravindh Chithambaram clinched victory at the Prague Chess Masters 2025, marking another proud moment for Indian chess.

RECENT NEWS

• In January 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 Day of Women Judges Day – March 10

• The International Day of Women Judges, observed annually on March 10, highlights the vital role of women in the judiciary.
• It promotes fairness, representation, and inclusivity in legal systems while encouraging more women to pursue judicial careers.

Significance

• Recognizes women’s contributions to the judiciary.
• Strengthens judicial legitimacy through inclusivity.
• Promotes fairness and gender equality in court rulings.
• Encourages more women to enter the legal profession.

Historical Background

• Declared by UNGA through Resolution 75/274 on April 28, 2021.
• Inspired by the UNODC Conference in Doha (Feb 24-27, 2020).
• First observed on March 10, 2022.

Daily CA One–Liner: March 11

• India has officially designated Madhav National Park in Madhya Pradesh as its 58th Tiger Reserve.
• Raksha Mantri Shri Rajnath Singh made history by becoming the first Defence Minister of India to visit the Institute of Aerospace Medicine (IAM) of the Indian Air Force (IAF) in Bengaluru, Karnataka.
• Union Minister of Power and Housing & Urban Affairs, Manohar Lal, inaugurated GRIDCON 2025 – The International Conference cum Exhibition on 9th March 2025 at IICC, Yashobhoomi, Dwarka, New Delhi
• HDFC Bank, in partnership with the Indian Army and CSC Academy, has renewed its Memorandum of Understanding (MoU) to expand Project NAMAN—a dedicated initiative aimed at supporting Army veterans, their families, and their next of kin
• The India-EU Free Trade Agreement (FTA) negotiations have hit roadblocks due to the European Union's (EU) stringent environmental and economic regulations, according to a report by the Global Trade Research Initiative (GTRI).
• Prime Minister Shri Narendra Modi's visit to Mauritius (March 11-12, 2025) highlights the long-standing India- Mauritius relations and provides an opportunity to reaffirm India's support for the island nation's security and economic prosperity.
• Indian football icon Sunil Chhetri has made a sensational comeback to the national team at the age of 40, reversing his retirement decision from June 2024.
• India made history by winning the ICC Champions Trophy for the third time after defeating New Zealand in the final.
• Indian chess continues to shine as Grandmaster Pranav Venkatesh from Bengaluru secured the 2025 World Junior Chess Championship title in Petrovac, Montenegro.
• In a significant move to support women entrepreneurs across India, the State Bank of India (SBI) has launched 'Asmita', a collateral-free digital loan designed exclusively for women-led micro, small, and medium enterprises (MSMEs).
• Star Health Insurance launches the “SheTARA” health campaign in Tamil Nadu to celebrate International Women’s Day.
• Axis Bank became the first Indian bank to execute an aircraft financing transaction through its IBU at GIFT City IFSC.
• Vikas Kaushal has been appointed as the Chairman and Managing Director (CMD) of HPCL for a five-year term.
• Mark Carney has been announced as the next Liberal Party leader and the 24th Prime Minister of Canada, succeeding Justin Trudeau.
• The Delhi government, led by Chief Minister Rekha Gupta, has approved the Mahila Samriddhi Yojana in a cabinet meeting held on March 8, 2025.
• The AI Kosha initiative is a significant step in India’s AI development strategy. It is part of the broader ₹10,370 crore IndiaAI Mission, which promotes AI innovation.
• The 12^thedition of the India-Kyrgyzstan Joint Special Forces Exercise KHANJAR-XII is set to take place in Kyrgyzstan from 10 March to 23 March 2025.
• The International Day of Women Judges, observed annually on March 10, highlights the vital role of women in the judiciary.