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CURRENT AFFAIRS: BANKING NEWS

Ministry of Statistics and Programme Implementation Releases Quick Estimates of Index of Industrial Production for January 2025

• The Ministry of Statistics and Programme Implementation (MoSPI) released the Quick Estimates of the Index of Industrial Production (IIP) for January 2025.
• The report highlights a significant improvement in industrial growth, with IIP expanding by 5.0% in January 2025, compared to 3.2% in December 2024.

Key Highlights

1. Overall Growth

• IIP Growth (January 2025): 5.0% (compared to 3.2% in December 2024).
• IIP Index (January 2025): 161.3 (up from 153.6 in January 2024).

2. Sector-wise Performance

Sector	Growth Rate (%)	Index Value
Mining	4.4%	150.7
Manufacturing	5.5%	159.1
Electricity	2.4%	201.9

3. Industry-wise Performance (Manufacturing Sector - NIC 2-digit level)

• 19 out of 23 industries showed positive growth.

Top Three Contributors:

1. Manufacture of Basic Metals: 6.3% growth
2. Manufacture of Coke & Refined Petroleum Products: 8.5% growth
3. Manufacture of Electrical Equipment: 21.7% growth

Key Items Driving Growth:

• Basic Metals: Flat products of alloy steel, pipes and tubes of steel, MS blooms/billets/ingots.
• Coke & Refined Petroleum Products: Diesel, petrol/motor spirit, LPG.
• Electrical Equipment: Transformers (small), end-facing connectors for optical fibers, electric heaters.

4. Use-based Classification (Index Values & Growth Rates)

Category	Index Value	Growth Rate (%)
Primary Goods	162.8	5.5%
Capital Goods	116.8	7.8%
Intermediate Goods	172.3	5.2%
Infrastructure/Construction Goods	199.6	7.0%
Consumer Durables	130.2	7.2%
Consumer Non-Durables	164.5	-0.2% (decline)

5.Top Three Contributors to IIP Growth (Use-based Classification)

1. Primary Goods
2. Infrastructure/Construction Goods
3. Intermediate Goods

6. Data Revision Policy

• January 2025 data - Quick Estimate.
• December 2024 data - First Revision.
• October 2024 data - Final Revision.

7. Weighted Response Rates

Month	Response Rate (%)
January 2025	90%
December 2024	94%
October 2024	96%

Walmart-Owned Indus Appstore Partners with Xiaomi India

• Indus Appstore, owned by Walmart-backed PhonePe, has announced a multi-year alliance with Xiaomi India to pre-install its app marketplace on all Xiaomi devices sold in India.
• As part of the deal, Xiaomi will replace its existing app store, GetApps, with Indus Appstore on current devices.

Key Highlights

Strategic Partnership

• Xiaomi India to pre-install Indus Appstore on all new devices.
• Existing Xiaomi smartphones to replace GetApps with Indus Appstore.
• Aims to challenge Google Play Store by offering an alternative app marketplace.

Significance of the Partnership

1. Boost to Indus Appstore’s Adoption
   • The deal strengthens Indus Appstore’s presence, making it the default app store for millions of Xiaomi users.
   • Helps Indus Appstore compete with Google Play Store.
2. Support for Indian Developers
   • Xiaomi and Indus Appstore aim to offer Indian developers a wider audience.
   • Provides zero per cent commission on in-app purchases, making it a cost-effective alternative.
3. Localized Features for Indian Users
   • Supports 12 Indian languages apart from English.
   • Allows developers to upload media and videos in multiple languages.
   • Features video-led app discovery and voice-enabled search.
   • Offers a self-publishing platform, localization tools, and 24×7 customer support.

Indus Appstore’s Growth and Market Strategy

• Launched in February 2024 by PhonePe.
• Features over 5 lakh mobile apps and games across 45 categories.
• In November 2024, introduced a redesigned UI, richer visuals, and enhanced app discovery features.
• Competing directly with Google Play Store, focusing on localized user experience.

CURRENT AFFAIRS: NATIONAL NEWS

India Launches First-Ever Auction of Exploration Licences

• The Ministry of Mines, in collaboration with the Government of Goa, organized a landmark event to launch India’s first-ever auction of Exploration Licences (ELs).
• The event was attended by Union Minister for Coal and Mines, Shri G. Kishan Reddy, and Chief Minister of Goa, Dr. Pramod Sawant.
• This initiative is a major reform aimed at unlocking critical and deep-seated mineral resources, enhancing private sector participation, and reducing import dependency.

Key Announcements & Highlights

1. Launch of Exploration Licence Auction

• 13 Exploration Licence blocks were put up for auction.
• Includes critical minerals like Rare Earth Elements (REE), Zinc, Diamond, Copper, and Platinum Group Elements (PGE).
• Facilitated through a transparent online bidding process.

2. Roadshow on the 5th Tranche of Critical Mineral Block Auction

• Promoted investment opportunities in critical mineral exploration.

3. AI Hackathon 2025: ‘Mineral Targeting using AI’

• Focus on AI-driven mineral exploration.
• Participants will use geophysics, geochemistry, remote sensing, and borehole data to identify new mineral-rich zones.
• Targets REE, Ni-PGE, and Copper deposits.

4. Recognition of Private Exploration Agencies

• Three private agencies received certification to promote private participation in mineral exploration:
  • M/s Earthenviro Lab Private Limited
  • M/s Ocean Drilling and Exploration Pvt. Ltd
  • M/s Enkay Enviro Services Pvt. Ltd

5. Review Meeting on Sustainable Mining

• Chaired by Union Minister Shri G. Kishan Reddy and attended by:
  • Chief Minister of Goa, Dr. Pramod Sawant
  • Secretary (Mines), Shri V.L. Kantha Rao
  • Chief Secretary of Goa, Dr. V. Candavelou
  • Representatives from private companies, PSUs, GSI, MECL, and environmental experts

PM Surya Ghar: Muft Bijli Yojana (PMSGMBY) – Key Highlights & Achievements

• The PM Surya Ghar: Muft Bijli Yojana (PMSGMBY) has reached a historic milestone of 10 lakh rooftop solar installations as of 10th March 2025.
• Launched by Prime Minister Narendra Modi on 13th February 2024, the initiative aims to solarize 1 crore households by 2026-27, reducing electricity costs and promoting clean energy adoption.

Key Achievements

• 10 lakh rooftop solar installations completed.
• 3 lakh applications received.
• ₹4,770 crore disbursed to 6.13 lakh beneficiaries.
• 3 GW solar capacity installed, targeting 30 GW by 2027.
• 10 lakh loan applications received, with 1.58 lakh sanctioned and 1.28 lakh disbursed.

Financial Support & Subsidy Details

• Collateral-free loan of ₹2 lakh at 6.75% interest rate from 12 Public Sector Banks.
• Subsidy Structure Based on Monthly Electricity Consumption:
  • 0-150 units: ₹30,000 - ₹60,000 subsidy (1-2 kW plant).
  • 150-300 units: ₹60,000 - ₹78,000 subsidy (2-3 kW plant).
  • Above 300 units: ₹78,000 subsidy (above 3 kW plant).
• Subsidy transfer within 15 days via the National Portal.

State-Wise Performance

• Chandigarh and Daman & Diu achieved 100% rooftop solar targets on government buildings.
• Top Performing States: Rajasthan, Maharashtra, Gujarat, Tamil Nadu.

Key Benefits of the Scheme

• Free electricity through rooftop solar installation.
• Annual savings of ₹75,000 crore in government electricity costs.
• Reduction in carbon emissions equivalent to planting 100 trees per installation.
• Additional income for households through surplus power sales to DISCOMs.
• Job creation for 17 lakh people in manufacturing, logistics, installation, and O&M sectors.
• Boost to domestic manufacturing of solar panels, inverters, and other components.

Model Solar Village Initiative

• One Model Solar Village per district.
• ₹1 crore grant for the top-performing village in each district.
• Focus on energy self-reliance in rural areas.
• ₹800 crore allocated for this initiative.

Impact of the Scheme

• 30 GW rooftop solar capacity addition by 2027.
• 720 million tonnes of CO₂ emissions reduction over 25 years.
• 1000 Billion Units (BUs) of electricity generation.
• Empowerment of rural communities and urban households.

Indian Railways Joins Mission Amrit Sarovar to Enhance Water Conservation

• The Indian Railways has been integrated into the Union Government’s Mission Amrit Sarovar, launched in April 2022, to combat water scarcity and enhance groundwater recharge across India.
• The initiative focuses on the construction and rejuvenation of 75 ponds per district, emphasizing community participation (Jan Bhagidari) and climate resilience.
• By October 2024, over 68,000 ponds had been restored.
• In Phase 2, the Indian Railways will play a critical role in desilting, excavating, and constructing water bodies near railway lines, while using the excavated material for railway embankments.

Key Highlights

Mission Amrit Sarovar

• Launched: April 2022.
• Objective: Construct or rejuvenate 75 ponds per district to address water scarcity.
• Progress: 68,000+ ponds rejuvenated by October 2024.
• Phase 2 Focus:
  • Climate resilience and groundwater recharge.
  • Community participation (Jan Bhagidari).
  • Completion target: August 15, 2025.

Role of Indian Railways

• Desilting and excavating water bodies to enhance water retention.
• Constructing new ponds near railway lines to increase surface water storage.
• Utilizing excavated soil for railway embankments and infrastructure projects.
• Collaboration with:
  • Rural Development Ministry.
  • State and district authorities to identify suitable sites.

Lok Sabha Passes Oilfield (Regulatory and Development) Amendment Bill, 2024

• The Lok Sabha passed the Oilfield (Regulatory and Development) Amendment Bill, 2024, following its approval by the Rajya Sabha on 3rd December 2024.
• The Bill aims to modernize India’s legal framework for oil and gas exploration and production, encouraging investment, increased production, and energy security.
• It aligns with PM Narendra Modi’s vision of Viksit Bharat by 2047.

Key Highlights of the Amendment Bill

Objective of the Bill

• Reform outdated laws to adapt to modern market conditions.
• Boost oil and gas production and attract investors.
• Ensure energy security and affordability for citizens.

Major Reforms Introduced

• Shift from Production Sharing to Revenue Sharing for contract allocation.
• Simplified regulatory framework for exploration and production.
• Deregulation of crude oil and pricing freedom for natural gas.
• New exploration opportunities in previously No-Go areas.

Key Provisions of the Amendment Bill

• Separation of Mining and Petroleum Operations: Ends the outdated practice of clubbing mining and petroleum operations under one framework.
• Single Permit System: Replaces multiple licenses with a unified Petroleum Lease for different hydrocarbons.
• Encouragement of Advanced Technologies: Supports Carbon Capture Utilization and Sequestration (CCUS) and Green Hydrogen Production.
• Infrastructure Sharing: Small operators can share infrastructure, improving project viability.
• Dispute Resolution Mechanism: Introduces an efficient dispute resolution system for global investors.
• Higher Penalties for Violations:
  • Penalty increased to ₹25 lakh.
  • Continuous infractions: Fine up to ₹10 lakh per day.

PM-YUVA 3.0 Launched to Mentor Young Authors in India

• The Ministry of Education, Department of Higher Education launched PM-YUVA 3.0 (Prime Minister’s Scheme for Mentoring Young Authors).
• This initiative aims to train young authors (below 30 years of age), promote reading and writing culture, and project Indian literature on the global stage.
• It builds on the success of previous editions, which saw participation in 22 Indian languages and English.

Key Highlights

Introduction to PM-YUVA 3.0

• PM-YUVA 3.0 (Young, Upcoming, and Versatile Authors) aligns with the Prime Minister’s vision of encouraging youth to engage with India’s cultural and intellectual heritage.
• The scheme nurtures young literary talents, enabling them to write on themes that define India’s progress and historical legacy.

Scheme Details

• Launch Date: March 11, 2025
• Implementing Agency: National Book Trust (NBT), India
• Target Audience: Young authors below 30 years
• Languages: Books to be published in multiple Indian languages and English
• Mentorship Period: June 30, 2025 – December 30, 2025
• Selection Platform: mygov.in

Objectives of PM-YUVA 3.0

1. Promoting Reading and Writing Culture

Encourages youth to engage with India’s history, culture, and heritage through reading and writing.

2. Encouraging Young Authors

Develops a new literary ecosystem representing India’s diverse perspectives and storytelling traditions.

3. Showcasing India’s Global Influence

• Articulates the contributions of the Indian diaspora.
• Highlights India’s historical and contemporary progress on the world stage.

Themes of PM-YUVA 3.0

1) Contribution of Indian Diaspora in Nation Building

• Highlights the political, economic, and socio-cultural contributions of the Indian diaspora.
• Examines how Indians abroad influence host countries while maintaining strong ties with India.

2) Indian Knowledge System

• Focuses on India’s ancient wisdom, scientific contributions, and philosophical traditions.
• Showcases how India’s intellectual heritage has shaped global thought.

3) Makers of Modern India (1950-2025)

• Chronicles the contributions of visionaries in education, science, economy, and social empowerment.
• Presents a comprehensive narrative of India’s post-independence journey.

Role of the National Book Trust (NBT), India

• Publishing & Translation: Books will be published by NBT and translated into multiple Indian languages to foster linguistic diversity.
• Literary Engagements: Selected authors will interact with esteemed writers, participate in literary festivals, and contribute to Indian literature.
• National Camp: A National Camp for PM-YUVA 3.0 authors will be held during the New Delhi World Book Fair 2026.

Selection Process & Schedule

Stage	Details
Announcement of the Scheme	March 11, 2025
Application Period	March 11 – April 10, 2025 (via www.mygov.in)
Total Authors Selected	50 young authors
Selection per Theme	Indian Diaspora: 10 authors Indian Knowledge System: 20 authors Makers of Modern India: 20 authors
Evaluation of Proposals	April 2025
Announcement of Selected Authors	May-June 2025
Mentorship Program	June 30 – December 30, 2025
National Camp (New Delhi World Book Fair 2026)	Early 2026

CURRENT AFFAIRS: INTERNATIONAL NEWS

India-Chile 1st Joint Working Group Meeting on Agriculture Held

• The 1st Joint Working Group (JWG) meeting on Agriculture between India and Chile was held in virtual mode.
• The meeting was co-chaired by:
  • Ajeet Kumar Sahu, Joint Secretary (IC), Department of Agriculture & Farmers Welfare, India.
  • Gabriel Layseca, Director, Department of International Affairs, Bureau of Agricultural Studies and Policies (ODEPA), Chile.

Key Highlights

1. India's Agricultural Achievements & Initiatives

Mr. Ajeet Kumar Sahu provided an overview of India's agriculture and allied sectors, highlighting:

• Digital Agriculture Mission
• Women-led Development Initiatives:
  • Lakhpati Didi Program
  • Krishi Sakhi
• Farmer Empowerment Initiatives:
  • Farmer Producer Organizations (FPOs)
• Other Key Programs:
  • Natural & Organic Farming
  • Crop Insurance
  • e-NAM (National Agricultural Market)
  • AgriSURE (Growth & Rural Development Initiative)

2. Chile's Perspective on Bilateral Cooperation

• Chile values its relationship with India and is keen to enhance agricultural cooperation.
• Both nations have rich agricultural expertise, providing opportunities to:
  • Boost agricultural productivity.
  • Promote rural development.
  • Enhance farmers' welfare.
• The meeting serves as a foundation for future collaboration in agriculture.

3. Key Discussion Areas

• Market access for agricultural products.
• Cooperation in horticulture.
• Capacity building in agriculture extension services.
• Research collaboration between institutions.

4. Participation from Indian Institutions

Senior officials attended from:

• Department of Agriculture & Farmers Welfare.
• Indian Council of Agricultural Research (ICAR).
• Department of Animal Husbandry & Dairying.
• Ministry of External Affairs.

India Participates in United Nations Commission on the Status of Women 69th Session, Reaffirms Commitment to Women’s Empowerment

• The Government of India, led by Union Minister for Women and Child Development, Smt. Annpurna Devi, actively participated in the 69th Session of the United Nations Commission on the Status of Women (UNCSW) at the UN Headquarters, New York (March 10-21, 2025).
• India emphasized its commitment to gender equality, inclusive development, and international cooperation for women’s empowerment.

Key Highlights

India’s Delegation & Leadership

• Led by Annpurna Devi, Union Minister for Women and Child Development (WCD).
• Delivered India’s National Statement at the Ministerial Forum.
• Promoted a whole-of-government and whole-of-society approach for women’s empowerment.

Focus on Gender Equality & Women’s Development

• Addressed 12 critical areas of concern under the Beijing Platform for Action.
• Highlighted India’s flagship schemes for women’s health, nutrition, education, and economic empowerment.
• Reaffirmed India’s commitment to Sustainable Development Goals (SDGs).

Ministerial Round Table & Policy Advocacy

• Participated in discussions on National Mechanisms for Gender Equality.
• Stressed the need to recommit, resource, and accelerate gender-related policies.
• Advocated for greater outreach and implementation of women’s rights programs.

Bilateral Meetings with Global Leaders

India strengthened gender cooperation through meetings with:

• Melrose Karminty (Sierra Leone)
• Sodyq S. Safoev (Uzbekistan)
• Vindhya Persaud (Guyana)
• Antonia Orellana Guarello (Chile)

UNCSW 69th Session Overview

• Largest global intergovernmental forum dedicated to gender equality.
• Functions under the UN Economic and Social Council (ECOSOC).
• Engages UN member states, private sector, academia, civil society, and global organizations.

CURRENT AFFAIRS: STATE NEWS

Tamil Nadu Replaces ₹ with ‘ரூ’ in State Budget Logo, Sparking Language Debate

• The Tamil Nadu government has replaced the Indian Rupee symbol (₹) with the Tamil letter ‘ரூ’ in the state budget logo for FY 2025-26.
• This decision, led by Chief Minister M K Stalin, is seen as a cultural assertion and aligns with the state's long-standing opposition to Hindi imposition and the National Education Policy (NEP).

Key Points

Decision Details

• The Tamil Nadu budget logo now features ‘ரூ’ instead of the standard Rupee symbol (₹).
• The move emphasizes Tamil identity and aims to promote linguistic pride.

Cultural Assertion

• The decision reflects Tamil Nadu’s resistance to the perceived Hindi imposition.
• It aligns with the state’s stance against the National Education Policy (NEP), which is considered “saffronized” by the ruling DMK government.

Historical Context

• The official Rupee symbol (₹) was designed by Udaya Kumar, a Tamilian and the son of a former DMK MLA.

RECENT NEWS

• In January 2025, In a significant announcement marking the centenary of the discovery of the Indus Valley Civilisation, Tamil Nadu Chief Minister M.K. Stalin has pledged a $1 million prize for experts or organizations that succeed in deciphering the mysterious Indus Valley script.

CURRENT AFFAIRS: AWARDS AND HONOURS

2024 ACM A.M. Turing Award: Andrew G. Barto & Richard S. Sutton

• The 2024 ACM A.M. Turing Award, often referred to as the "Nobel Prize in Computing," has been awarded to Andrew G. Barto (University of Massachusetts, Amherst) and Richard S. Sutton (University of Alberta) for their pioneering contributions to Reinforcement Learning (RL).
• Their work has significantly shaped the foundations of AI and machine learning.

Key Highlights

• Recipients: Andrew G. Barto & Richard S. Sutton.
• Award: ACM A.M. Turing Award (2024).
• Prize: $1 million, sponsored by Google.
• Field of Contribution: Reinforcement Learning (RL).
• Key Achievements:
  • Development of Temporal Difference Learning.
  • Advances in Policy-Gradient Methods.
  • Integration of Neural Networks in RL.
• Influential Publication: "Reinforcement Learning: An Introduction" (1998) – Cited over 75,000 times.

Background on Reinforcement Learning (RL)

• Definition: RL is a learning paradigm where an agent learns optimal behaviors by receiving rewards for its actions in an uncertain environment.
• Influences:
  • Rooted in psychology and neuroscience.
  • Inspired by the works of Alan Turing and Arthur Samuel.
• Mathematical Foundation: Based on Markov Decision Processes (MDPs).
• Key Concept: Learning through trial and error to maximize long-term rewards.

Major Contributions of Barto & Sutton

1. Temporal Difference Learning:
   • Developed methods to solve reward prediction problems in dynamic environments.
2. Policy-Gradient Methods:
   • Introduced techniques for optimizing decision-making policies in RL.
3. Combining Learning & Planning:
   • Developed algorithms that integrate learning with planning, improving adaptability.
4. Influence on Deep Reinforcement Learning:
   • Their work laid the foundation for modern AI breakthroughs such as:
     • AlphaGo (by DeepMind).
     • ChatGPT and other generative AI models.

CURRENT AFFAIRS: APPOINTMENTS AND RESIGNATION

Axar Patel Appointed as Delhi Capitals Captain for IPL 2025

• Delhi Capitals (DC), co-owned by JSW-GMR, has named Axar Patel as the captain for the 2025 Indian Premier League (IPL) season.
• The 31-year-old all-rounder, who has been with DC since 2019, replaces the previous leadership after serving two seasons as vice-captain.
• Known for his consistent performances with both bat and ball, Axar Patel aims to lead DC to a successful season with a well-balanced squad.

Key Highlights of Axar Patel’s Appointment

Captaincy Announcement

• Delhi Capitals appointed Axar Patel as their IPL 2025 captain.
• He replaces the previous leadership, having served as vice-captain for two seasons.

Performance and Contributions

• Joined DC in 2019, playing 82 matches for the franchise.
• DC Stats: 967 runs, 62 wickets, economy of 7.09.
• Overall IPL Stats: 150 matches, 1653 runs, 123 wickets.
• Achieved a hat-trick in IPL 2016, taking 4 wickets in 5 balls while playing for Punjab.

Franchise’s Endorsement

• DC Chairman Kiran Kumar Grandhi praised Axar’s leadership and contributions.
• Co-owner Parth Jindal highlighted Axar’s growth as an all-rounder and his performances in recent ICC tournaments.

Axar Patel’s Reaction

• Expressed gratitude for the opportunity.
• Confident in leading DC with a strong squad built during the mega auction.
• Aims to guide DC to a successful season with support from experienced players like KL Rahul, Faf du Plessis, and Mitchell Starc.

Coaching and Support Staff

• Director of Cricket: Venugopal Rao
• Mentor: Kevin Pietersen
• Head Coach: Hemang Badani
• Assistant Coach: Matthew Mott
• Bowling Coach: Munaf Patel

ICICI Bank Appoints Kamal Wali as Head of Security Operations Center

• ICICI Bank has appointed Kamal Wali as the Head of its Security Operations Center (SOC), reinforcing its commitment to cybersecurity and risk mitigation.
• With over 18 years of experience in cybersecurity and IT operations, Wali will play a crucial role in strengthening the bank’s digital security infrastructure.

Key Highlights

Appointment & Role

• New Position: Head of Security Operations Center (SOC), ICICI Bank.
• Primary Responsibilities:
  • Overseeing security operations to combat evolving cyber threats.
  • Strengthening cybersecurity infrastructure for digital resilience.
  • Enhancing data protection measures for secure banking services.

Professional Experience

• 18+ years of experience in cybersecurity and IT operations.
• Previous Leadership Roles at:
  • Jio Platforms Limited
  • Wipro
  • IBM
  • Intex Technologies
  • Spanco Telesystems
• Expertise in:
  • Security frameworks and cyber risk management.
  • Complex project implementation in cybersecurity.
  • Operational security strategies to mitigate digital threats.

CURRENT AFFAIRS: DEFENCE NEWS

India-Bangladesh Naval Exercise ‘Bongosagar 2025’

• The India-Bangladesh Naval Exercise ‘Bongosagar 2025’ and the Coordinated Patrol were conducted in the Bay of Bengal.
• The exercise aimed to enhance interoperability between the two navies, strengthening their ability to respond collaboratively to maritime security challenges.

Key Highlights of Bongosagar 2025

1. Participating Warships

• Indian Navy: INS Ranvir.
• Bangladesh Navy: BNS Abu Ubaidah.

2. Objectives of the Exercise

• Enhancing coordination between the Indian Navy and Bangladesh Navy.
• Strengthening maritime security cooperation.
• Improving tactical planning, coordination, and information sharing.

3. Key Activities Conducted

• Surface Firing Operations.
• Tactical Manoeuvres.
• Underway Replenishment Drills.
• Visit-Board-Search-Seizure (VBSS) Cross Boarding.
• Communication Drills.
• Quiz Competition for operational teams and junior officers on professional topics.
• Steam Past (formal passage of warships in close formation).

Keel-Laying Ceremony for Second Fleet Support Ship (FSS) – Strengthening India's Maritime Capabilities

• The keel-laying ceremony for the second Fleet Support Ship (FSS) was held at L&T Shipyard, Kattupalli, Tamilnadu.
• This marks a significant step in India's naval expansion under a contract signed in August 2023 between the Indian Navy and Hindustan Shipyard Limited (HSL) for the construction of five Fleet Support Ships (FSS).
• Deliveries are set to begin by mid-2027, with two of these ships being built by L&T Shipyard to enhance India's shipbuilding capabilities.

Key Highlights

Contract Details

• Signed between the Indian Navy and HSL in August 2023.
• Five Fleet Support Ships (FSS) to be constructed.
• Deliveries to commence from mid-2027.
• Two FSS assigned to L&T Shipyard, Kattupalli.

Role of Fleet Support Ships (FSS)

• Enhance Blue Water capabilities of the Indian Navy.
• Support replenishment of fleet ships at sea with fuel, water, ammunition, and stores.
• Enable prolonged naval operations, increasing fleet reach and mobility.
• Secondary Role:
  • Humanitarian Aid and Disaster Relief (HADR)
  • Evacuations and relief missions during natural disasters.

CURRENT AFFAIRS: IMPORTANT DAYS

World Consumer Rights Day 2025: March 15

• World Consumer Rights Day is celebrated on 15th March 2025.

World Consumer Rights Day History

• World Consumer Rights Day was inspired by President John F Kennedy, who sent a special message to the US Congress on 15th March 1962, in which he formally addressed the issue of consumer rights.
• He was the first world leader to do so.
• The consumer movement first marked that date in 1983 and now uses the day every year to mobilize action on important issues and campaigns

Daily CA One- Liner: March 15

• The Ministry of Statistics and Programme Implementation (MoSPI) released the Quick Estimates of the Index of Industrial Production (IIP) for January 2025
• Indus Appstore, owned by Walmart-backed PhonePe, has announced a multi-year alliance with Xiaomi India to pre-install its app marketplace on all Xiaomi devices sold in India.
• ICICI Bank has appointed Kamal Wali as the Head of its Security Operations Center (SOC), reinforcing its commitment to cybersecurity and risk mitigation.
• The Ministry of Mines, in collaboration with the Government of Goa, organized a landmark event to launch India’s first-ever auction of Exploration Licences (ELs).
• The PM Surya Ghar: Muft Bijli Yojana (PMSGMBY) has reached a historic milestone of 10 lakh rooftop solar installations as of 10th March 2025.
• The Indian Railways has been integrated into the Union Government’s Mission Amrit Sarovar, launched in April 2022, to combat water scarcity and enhance groundwater recharge across India.
• The Lok Sabha passed the Oilfield (Regulatory and Development) Amendment Bill, 2024, following its approval by the Rajya Sabha on 3rd December 2024
• The Ministry of Education, Department of Higher Education launched PM-YUVA 3.0 (Prime Minister’s Scheme for Mentoring Young Authors).
• The 1st Joint Working Group (JWG) meeting on Agriculture between India and Chile was held in virtual mode.
• The Government of India, led by Union Minister for Women and Child Development, Smt. Annpurna Devi, actively participated in the 69th Session of the United Nations Commission on the Status of Wo men (UNCSW) at the UN Headquarters, New York (March 10-21, 2025).
• The Tamil Nadu government has replaced the Indian Rupee symbol (₹) with the Tamil letter ‘ரூ’ in the state budget logo for FY 2025-26.
• The 2024 ACM A.M. Turing Award, often referred to as the "Nobel Prize in Computing," has been awarded to Andrew G. Barto (University of Massachusetts, Amherst) and Richard S. Sutton (University of Alberta) for their pioneering contributions to Reinforcement Learning (RL).
• Delhi Capitals (DC), co-owned by JSW-GMR, has named Axar Patel as the captain for the 2025 Indian Premier League (IPL) season.
• The India-Bangladesh Naval Exercise ‘Bongosagar 2025’ and the Coordinated Patrol were conducted in the Bay of Bengal
• The keel-laying ceremony for the second Fleet Support Ship (FSS) was held at L&T Shipyard, Kattupalli, Tamil Nadu.
• World Consumer Rights Day is celebrated on 15th March 2025.