Main Point :-   (i) The PTCs offer a fixed annual coupon of 7.26% and have an expected maturity of around 20 years, making them suitable for long-term investment portfolios.

      (ii) These securities have been rated AAA(SO) by prominent rating agencies—CRISIL and CARE Ratings—signifying the highest safety regarding the timely repayment of financial obligations under the Structured Obligation (SO) category.

(iii) Issued in dematerialized form, the PTCs are fully transferable and can be traded in the secondary market, thereby ensuring liquidity and ease of exit for investors.

      - In terms of travel benefits, the Kotak Solitaire Credit Card stands out by offering unlimited lounge access to both primary and add-on cardholders, which includes domestic and international lounges. The card also offers 4 complimentary guest lounge visits annually (split between 2 domestic and 2 international lounges), ensuring that cardholders have a premium experience when traveling.

Main Point :-   (i) Furthermore, the card provides zero forex markup on international transactions, making it an ideal choice for frequent travelers who often make purchases abroad. Additionally, cardholders enjoy a 1% fuel surcharge waiver on transactions ranging from Rs. 400 to Rs. 7,500, with a maximum waiver of Rs. 10,000 per card anniversary year, offering extra savings for regular fuel users.

      (ii) The annual fee for the Kotak Solitaire Credit Card is Rs. 25,000 + taxes, though it is waived for customers who maintain the required eligibility under the Solitaire Program. There is also no joining fee, making it an attractive proposition for HNIs looking for a card with long-term benefits.

(iii) With these exclusive features, the Kotak Solitaire Credit Card is tailored to meet the needs of India's affluent individuals, offering them enhanced travel experiences, valuable rewards, and an array of privileges that align with their lifestyle.

Main Point :-   (i) After the deal, SCHOTT Pharma will retain its 50% stake in the joint venture, while SII will hold a minority stake, ensuring continued collaboration across the entities.

      (ii) The partnership is set to enhance SCHOTT Poonawalla’s capacity to deliver high-quality pharmaceutical packaging solutions that meet international standards, reinforcing its role in supporting the global healthcare value chain.

(iii) Serum Institute of India (SII), part of the Cyrus Poonawalla Group, is the world’s largest vaccine manufacturer by volume. It was founded in 1966 by Dr. Cyrus Poonawalla.

      - These drones are designed to support operations in remote and border logistics, tactical surveillance, high-altitude missions, and defence supply chains, addressing India’s growing strategic and logistic needs.

Main Point :-   (i) HevenDrones will contribute the core technology, working prototypes, and production manuals to the JV, bringing advanced drone development expertise from Israel.

      (ii) Paras Defence will oversee the manufacturing, regulatory compliance, sales, and operational execution of the JV within India, ensuring seamless integration and scaling.

(iii) The JV’s board will include members from both Paras Defence and HevenDrones. A Chief Executive Officer (CEO), Chief Financial Officer (CFO), and Chief Operating Officer (COO) will be jointly appointed to manage the company’s operations.

Main Point :-   (i) For unregulated originators, a ₹1 crore minimum investment threshold applies even for subsequent transfers.

      (ii) Public offers of SDIs must remain open for a minimum of 3 days and a maximum of 10 days, with advertisement requirements aligned to SEBI norms for non-convertible securities.

(iii) SEBI also introduced an ‘Investor Charter’ for KYC Registration Agencies (KRAs), outlining services, investor rights, and grievance redress mechanisms.

Main Point :-   (i) The report highlighted key insights on core inflation trends, noting that it increased from 3.28% in August 2024 to 3.77% in October 2024. It then remained steady, ranging between 3.6% and 3.7% from November 2024 to January 2025, before rising further to 4.1% in February and March 2025—marking the highest level in the past 15 months. When excluding gold, core inflation stood at 3.2%, which was lower than both the core and overall Consumer Price Index (CPI) inflation figures.

      (ii) SBI estimates that nominal Gross Domestic Product (GDP) growth for FY26 will be in the range of 9% to 9.5%, slightly lower than the Union Budget 2025-26’s projection of 10%.

(iii) SBI forecasts that the Reserve Bank of India (RBI) may consider aggressive rate cuts in FY26, potentially totaling 125 basis points, with 75 basis points in H1 FY26 and 50 basis points in H2 FY26.

Main Point :-   (i) At WAVES 2025, the MoI&B organised the Global Media Dialogue (GMD) for the first time, with support from the Ministry of External Affairs (MEA) and ministerial participation from over 50 countries. During the GMD, 77 countries adopted the 13-point 'WAVES Declaration', focusing on promoting the responsible use of emerging technologies like Artificial Intelligence (AI).

      (ii) During WAVES 2025, Union Minister Ashwini Vaishnaw, MoI&B, announced the launch of the Indian Institute of Creative Technology (IICT), a National Centre of Excellence (COE) backed by Jio Star, based in Mumbai.

(iii) WAVES 2025 concluded with remarkable success, recording business transactions totaling Rs. 1,328 crore across various sectors.

      - Dr. Mustafa Yusufali Gom, the Managing Director of Care Takers Exterior and Interior Private Limited in Mumbai, was recently conferred with the International Buddha Peace Award 2025 in recognition of his outstanding social activism and leadership. His previous honors include the Bharat Ratna Dr. B. R. Ambedkar Award and accolades from the governors of Maharashtra and Telangana.

Main Point :-   (i) Dr. Munir Khan, a renowned structural engineer, was also awarded the International Buddha Peace Award for his significant contributions to social initiatives. Over his career, he has conducted more than 1,500 structural audits and restored over 300 buildings in cities across Maharashtra, including Mumbai and Thane.

      (ii) The International Buddha Peace Award, established in 2009 by the Maitri Peace Foundation, is an annual award that recognizes individuals who have made extraordinary efforts to promote peace, both within their communities and globally.

(iii) In 2024, Dr. Rashmi Saluja, Chairperson of the Global Trade & Technology Council of India, was also honored with the International Buddha Peace Award for her contribution to peace and social development.

Main Point :-   (i) Creatorland will feature immersive theme parks, advanced gaming zones, esports arenas, and global cinema co-production zones. A key component will be the Virtual Studio Complex, equipped with Artificial Intelligence (AI)-based real-time rendering and volumetric capture technologies.

      (ii) The Creatorland Academy will train over 10,000 youth annually in fields such as Visual Effects (VFX), AI, gaming, and immersive storytelling. The initiative is expected to generate over 1.5 lakh employment opportunities across the entertainment, technology, and tourism sectors.

(iii) This ambitious initiative aims to position India as a global hub for entertainment, technology, and creative industries, offering immense opportunities for growth and development in these sectors.

      - TCS will focus on developing quantum algorithms and domain-specific applications aimed at addressing complex challenges across a range of critical sectors, including life sciences, material science, supply chain resilience, energy optimization, cryptography, and sustainable manufacturing.

Main Point :-   (i) The collaboration will also facilitate access to IBM’s cloud-based quantum systems, supporting developers, researchers, and technologists across the country to experiment and innovate in quantum computing.

      (ii) The infrastructure of the tech park will support hybrid computing models, integrating quantum computing with traditional CPU and GPU systems, to address complex computational challenges.

Main Point :-   (i) Under this MoU, NISM will serve as the official training partner for IFSCA and its registered intermediaries, and will facilitate a variety of capacity building programs, including the conduct of relevant certification examinations as mandated by IFSCA regulations.

      (ii) The MoU also encompasses the development of customized educational content, comprehensive question banks, and e-learning modules tailored to meet the regulatory and professional requirements of IFSCA, thereby enhancing the skills of financial institutions operating within the IFSC.

(iii) The collaboration is expected to be mutually beneficial — IFSCA will leverage the training and certification expertise of NISM, while NISM will gain insights and experience from engaging with an international financial services platform.

Main Point :-   (i) On May 2, 2025, PM Narendra Modi dedicated the Vizhinjam International Deepwater Multipurpose Seaport to the nation. This landmark project, located in Thiruvananthapuram, Kerala, is worth Rs. 8,867 crore. Full-fledged operations at the port are expected to commence by the year 2028–29.

      (ii) Also on May 2, 2025, the PM inaugurated and laid the foundation for multiple development projects in Amaravati, Andhra Pradesh, with a total value exceeding Rs. 58,000 crore.

(iii) As part of this, he laid the foundation stone for 74 projects worth Rs. 49,000 crore, signifying a major boost to the state's infrastructure and growth initiatives.

      - Several dignitaries attended the event, including Murlidhar Bhagare, Member of Parliament (MP), Lok Sabha, Nashik; Devyani Suhas Pharande, Member of Legislative Assembly (MLA), Nashik West; Rahul Uttamrao Dhikale, MLA, Nashik East; Lieutenant General Dr. Madhuri Kanitkar, Vice Chancellor of Maharashtra University of Health Sciences (MUHS); Dr. Vishwas Mandlik, Head of Yoga Vidya Gurukul, Nashik; and Monalisa Das, Joint Secretary, Ministry of Ayush.

Main Point :-   (i) The Yoga Mahotsav in Nashik witnessed an enthusiastic participation of over 6,000 yoga practitioners, celebrating the spirit of health and wellness. This large-scale event was part of the nationwide countdown to International Day of Yoga (IDY) 2025 and highlighted the growing public interest in holistic well-being. One of the major attractions was the live demonstration of the Common Yoga Protocol (CYP) by instructors from the Morarji Desai National Institute of Yoga (MDNIY), led by its Director, Kashinath Samagandi.

      (ii) Yoga Sangam is one of the ten Signature Events of IDY 2025 and symbolizes global solidarity for health and harmony through yoga. It promotes the unifying power of yoga and its relevance in everyday life. Notably, similar countdown events were earlier organized by the government on March 13, 2025, at Vigyan Bhawan, New Delhi (100-day countdown), and on April 7, 2025, at Kalinga Stadium, Bhubaneswar, Odisha (75-day countdown).

(iii) The Yoga Sangam Portal is an initiative designed to support the integration of yoga into daily routines. It focuses on practices like Pranayama (breath control) and Dhyana (meditation) through the Common Yoga Protocol. The portal offers easy access to resources and registration for synchronized participation in IDY 2025. Individuals can explore and register via the official link: https://yoga.ayush.gov.in/vega-webues.

Main Point :-   (i) RBI data showed services shipments rose by 18.6%, touching USD 35.6 billion in March 2025, up from USD 30 billion in March 2024.

      (ii) The growth was majorly fueled by key sectors such as telecommunication, computer and information services, transport, travel, and financial services.

(iii) Non-petroleum merchandise exports also hit a new record, climbing to USD 374.1 billion in FY25, up 6% from USD 352.9 billion in FY24, marking the highest-ever annual non-petroleum merchandise export figure.

      - It targets an investment of Rs 6,600 crore by 2030, aiming to create 40,000 jobs in the shipbuilding, repair, and recycling ecosystem.

Main Point :-   (i) The policy offers attractive financial incentives to boost investment in the maritime sector. It includes a capital subsidy of 15% of the project cost, support of up to Rs 1 crore per project for skill development, and funding of up to Rs 25 crore for research and development (R&D) activities. These measures are designed to promote innovation, workforce training, and technological advancement in shipbuilding and allied industries.

      (ii) To facilitate infrastructure development, the policy ensures concessional land allotment to eligible maritime projects on long-term leases of 30 years, with an option for renewal.

(iii) This provision aims to make land acquisition more accessible and affordable for industry players, thereby accelerating the establishment of shipyards, repair docks, and recycling facilities in Maharashtra.

      - Around 1,900 LPAI employees will receive SBI’s corporate salary packages, which include personal accident insurance, loan facilities, and discounted locker rentals. These benefits will also be extended to over 5,000 personnel from the BSF and Customs Department.

Main Point :-   (i) LPAI currently manages 15 land ports across 8 border states and plans to construct 11 additional ports in states such as Uttar Pradesh, Bihar, Mizoram, Uttarakhand, and West Bengal.

      (ii) The partnership is set to streamline cross-border transactions and support management of ₹71,000 crore worth of forex trade annually.

(iii) The MoU signifies a joint effort by SBI and LPAI under the Ministry of Home Affairs (MHA) to strengthen financial infrastructure and promote ease of doing border trade across India’s northeastern and eastern borders.

Main Point :-   (i) The collaboration focuses on enterprise financing by providing loans to Self-Help Groups (SHGs) and individual entrepreneurs who are not part of SHGs. It also aims to foster co-lending partnerships with Microfinance Institutions (MFIs) to enhance credit access for underserved segments, particularly in rural and semi-urban areas.

      (ii) Another major focus area is climate and green financing, where both Sa-Dhan and Bank of India will support initiatives promoting the adoption of climate-resilient technologies and investments in environmentally sustainable projects. The partnership also includes funding for WASH (Water, Sanitation, and Hygiene) programs to improve rural sanitation and access to clean drinking water.

(iii) In addition, the MoU emphasizes financial literacy, with plans to conduct workshops and awareness programs. These will aim to educate rural entrepreneurs about various government welfare schemes and promote the use of digital banking tools to improve financial inclusion.

Main Point :-   (i) W-Power Launched in 2017, this initiative seeks to spotlight self-made women who have forged their own paths to success, acting as role models for future generations.

      (ii) The Forbes India editorial team curated the list using both primary and secondary research, focusing on entrepreneurs and professionals without inherited wealth or privileged positions.

(iii) Key evaluation metrics included a combination of financial success, influence and leadership, innovation, and societal impact, which collectively highlighted the honorees' ability to drive change, inspire others, and create lasting value across their respective fields.

Main Point :-   (i) States are evaluated across seven core pillars: Economic, Fiscal, Infrastructure, Financial Development, Social, Governance, and Environment. These pillars together encompass a total of 50 performance indicators, offering a comprehensive measure of a state's progress and investment potential.

      (ii) Western and Southern states dominated the top five rankings. Western states stood out for their strong performance in economic and fiscal areas, while southern states excelled in governance, environmental sustainability, and social development indicators.

(iii) In the North-East, Hilly & Small States (Group B) category, Goa topped the rankings.

      - A strike is defined as a period when the AQI remains above 400 for at least three out of the previous five days.

Main Point :-   (i) ClimateSafe operates on a parametric insurance model, where automatic payouts are triggered once specific weather thresholds—such as temperature or rainfall levels—are breached, as recorded by the India Meteorological Department (IMD). The process requires no manual claims, and settlements are completed within 7 days, ensuring quick financial relief without customer intervention.

      (ii) The product is designed to compensate for income losses faced by daily wage and gig economy workers, while also covering additional expenses such as increased electricity bills or commuting costs. It also offers protection against supply chain disruptions, event cancellations, and damage to household items due to climate-induced events like floods or heatwaves.

(iii) Customers can personalize their insurance by selecting the location of risk, the risk period (ranging from 1 to 30 days), sum insured, and specific weather triggers like excessive rainfall or extreme temperatures. Premium pricing is dynamic, calculated in real-time based on climate data, making it responsive and adaptable to changing environmental conditions.

Main Point :-   (i) The Prepaid Card, linked to a Minimum KYC Wallet, supports both online and offline transactions such as transit payments, PoS purchases, and e-commerce transactions, while the Prepaid Payment Instrument for Mass Transit Systems (PPI MTS) Card is a standalone prepaid card created exclusively for transit-related payments.

      (ii) Airtel Payments Bank has launched three RuPay NCMC card variants to suit different user needs. The Debit Card is linked to a savings account and supports a variety of debit transactions, including transit fares, Point of Sale (PoS) purchases, e-commerce payments, and ATM withdrawals.

(iii) As of April 2025, Airtel Payments Bank has issued over 2.5 million RuPay ON-THE-GO cards integrated with NCMC features. The bank targets expanding this figure to 10 million over the next two years.

Main Point :-   (i) Union Minister Rajiv Ranjan Singh inaugurated and laid the foundation stone for fisheries projects worth Rs. 255.30 crore for 7 coastal States/UTs under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).

      (ii) He also launched the 5th Marine Fisheries Census (MFC 2025), released Guidelines on Turtle Excluder Device, and introduced the Standard Operating Procedure (SOP) for Vessel Communication and Support System.

(iii) In addition, he distributed tablets enabled with the Digital Application Vyas-NAV (Village Jetty Appraisal NAVigator) and awarded the first-ever Aqua Insurance (One Time Incentive Sanction-cum-Release Order) to beneficiaries under the Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY).

      - Anant Ambani becomes the first among the Ambani siblings to assume an Executive Director (ED) role at Reliance Industries Limited (RIL); he has also been serving as a Board Member of Jio Platforms Limited (since March 2020), Reliance Retail Ventures Limited (since May 2022), and both Reliance New Energy Limited and Reliance New Solar Energy Limited (since June 2021).

Main Point :-   (i) Reliance Industries Limited (RIL) has achieved a major milestone by becoming the first Indian company to surpass ₹10 lakh crore in total equity. This landmark follows RIL’s earlier achievement in 2024, when it became the first Indian firm to cross ₹20 lakh crore in market capitalization. The company’s consistent growth reflects its strong market leadership and strategic expansions.

      (ii) The surge in RIL’s equity value has been driven by robust performances in its consumer businesses and its oil-to-chemicals (O2C) segment. Demonstrating its financial strength, RIL reported a 2.9% year-on-year (YoY) increase in its annual consolidated Profit After Tax (PAT) and share of profit/(loss) from associates and joint ventures, reaching ₹81,309 crore (approximately USD 9.5 billion).

(iii) Additionally, RIL announced a significant capital expenditure of ₹131,107 crore (around USD 15.3 billion) for the fiscal year ending March 31, 2025. This investment highlights RIL’s commitment to future growth, focusing on strengthening its businesses across energy, digital services, and retail sectors.

      - This penalty was imposed under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.

Main Point :-   (i) Mahindra & Mahindra Financial Services Ltd (MMFSL) was fined Rs. 6.77 crore for non-compliance with certain provisions of the 'Non-Banking Financial Company - Systematically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016' and Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016.

      (ii) The penalty was imposed under Clause (b) of Sub-section (1) of Section 58G read with Clause (aa) of Sub-section (5) of Section 588 of the Reserve Bank of India Act, 1934.

      - The RBI found that allowing the bank to continue operations would be against public interest, particularly affecting depositors, as the bank was unable to meet its deposit repayment obligations.

Main Point :-   (i) Following the bank's liquidation, depositors are eligible to receive insurance coverage of up to ₹5 lakh under the provisions of the Deposit Insurance and Credit Guarantee Corporation (DICGC) Act, 1961. The DICGC, headquartered in Mumbai, ensures protection of depositors' funds in such cases of bank failure.

      (ii) As of April 3, 2025, approximately 91.55% of the depositors qualified to receive the full insured amount of their deposits. In total, the DICGC had disbursed ₹275.22 crore to eligible depositors of Ajantha Urban Co-operative Bank Maryadit.

(iii) As of March 31, 2025, a total of 23 Urban Co-operative Banks (UCBs) were operating under All-Inclusive Directions (AID), with the highest number in Maharashtra (9), followed by Karnataka (5), and Uttar Pradesh (4).

Main Point :-   (i) In 2017, her short film Afternoon Clouds was selected as the only Indian entry at the 70th CFF.

      (ii) Her experimental short And What Was the Summer Saying won the Special Jury Prize at the International Documentary Film Festival Amsterdam (IDFA) in 2018, and the Pramod Pati Award at the Mumbai International Film Festival (MIFF) in 2020.

(iii) In 2021, Payal Kapadia received the Oeil d'Or (Golden Eye) Award at the 74th Cannes Film Festival for her acclaimed documentary A Night of Knowing Nothing. In 2025, she further cemented her global reputation with a Golden Globe nomination for Best Director and was ranked 5th in Cahiers du Cinéma's prestigious annual list of top filmmakers.

Main Point :-   (i) The eKCC platform integrates: Land records, Aadhaar and eKYC (Electronic Know Your Customer), Core banking systems, and ePACS (Digital PACS).

      (ii) This enables end-to-end automation of loan disbursals, reducing processing time and enhancing transparency.

(iii) As of March 2025, India has 7.71 crore operational KCC holders, including 1.24 lakh for fisheries and 44.4 lakh for animal husbandry.

      - Edelweiss BSE Internet Economy Index Fund is an open-ended index fund designed to replicate the performance of the BSE Internet Economy Total Return Index. The New Fund Offering (NFO) opens for subscription on April 25, 2025, and will close on May 9, 2025. This fund offers investors a unique opportunity to participate in India's rapidly evolving digital economy.

Main Point :-   (i) The underlying index includes the top 20 companies from the BSE 500, selected based on their six-month average market capitalization. It spans 11 sub-industries such as e-retail, internet and catalogue retail, e-learning, digital entertainment, fintech, and other digitally driven sectors, reflecting the breadth of India’s internet ecosystem.

      (ii) Investors can start with a minimum investment of Rs. 100 and add in multiples of Rs. 1 thereafter. According to the Scheme Information Document (SID), an exit load of 0.10% will be applicable if units are redeemed or switched within 30 days from the date of allotment. No exit load is charged for redemptions made after the 30-day period.

(iii) The fund will be managed by Bhavesh Jain and Bharat Lohoti, Co-Heads of Factors Investing at Edelweiss Mutual Fund. The NFO, or New Fund Offering, represents the initial phase where the Asset Management Company (AMC) sells units of the scheme to investors to raise capital and attract early participation.

      - In the final round, Humpy defeated Bulgarian International Master (IM) Nurgyul Salimova, while Zhu Jiner secured second place by defeating Russian IM Polina Shuvalova. Indian IM Divya Deshmukh finished third with 5.5 points.

Main Point :-   (i) The 5th leg of the FIDE Women's Grand Prix (WGP) 2024-25 was played in a 10-player round-robin format featuring participants from various countries. Both Koneru Humpy and Zhu Jiner earned 117.5 WGP points each for their shared first-place finish.

      (ii) After five legs of the series, the cumulative Grand Prix standings are: Aleksandra Goryachkina (Russia) with 308.34 points from 3 events, Koneru Humpy (India) with 279.17 points from 3 events, and Zhu Jiner (China) with 235 points from 2 events.

(iii) The FIDE Women's Grand Prix 2024-25 consists of six tournaments organized by FIDE, with each tournament featuring ten players, and each player participating in three of the six events. The series serves as a qualification pathway for the FIDE Women's Candidates Tournament 2026, which will determine the challenger for the Women's World Chess Championship. The final leg of the WGP series is scheduled to be held in Großlobming, Austria, from May 5 to 16, 2025.

      - The deployment will focus primarily on high-footfall branches, particularly those handling government salary accounts, pensions, and Direct Benefit Transfers (DBT).

Main Point :-   (i) SBI offers a wide range of alternate banking channels to enhance customer convenience and reduce branch dependency, including Automated Teller Machines (ATMs), Automated Deposit Cum Withdrawal Machines (ADWMs), self-service kiosks, SWAYAM barcode-based passbook printing kiosks, cheque deposit kiosks, internet banking, mobile banking through the You Only Need One (YONO) application, and WhatsApp banking services—ensuring 24/7 secure and seamless access to banking services.

      (ii) As of December 2024, 98.1% of all transactions at SBI were carried out through alternate banking channels, marking a substantial rise from 88.1% in March 2019 and highlighting the bank's successful shift towards digital banking solutions.

Main Point :-   (i) The Institute for Development and Research in Banking Technology (IDRBT), based in Hyderabad (Telangana), has been designated as the registrar for the '.bank.in' domain. IDRBT has been authorized by the National Internet Exchange of India (NIXI) under the Ministry of Electronics and Information Technology (MeitY).

      (ii) Banks are required to contact IDRBT at sahyog@idrbt.ac.in to begin their migration. IDRBT will provide technical and procedural guidance for the transition.

(iii) Banks will need to upgrade their IT infrastructure to comply with the new domain requirements, ensuring secure and uninterrupted digital banking experiences for users.

Main Point :-   (i) Nipun Aggarwal is a seasoned professional with over 28 years of experience spanning aviation, finance, and energy sectors.

      (ii) He has previously held key roles at Bank of America Merrill Lynch, Standard Chartered Bank, and BP PLC, bringing a rich background in banking and energy.

(iii) Before joining Air India, Aggarwal served as Senior Vice President at Tata Sons, where he was instrumental in driving transformation across several Tata Group companies.

Main Point :-   (i) LIC acquired an additional 10.45 crore shares of BoB through Open Market Purchases (OMPs) conducted over a period of one and a half years, from 20 November 2023 to 16 April 2025.

      (ii) With this acquisition, LIC’s total shareholding in BoB reached 36,47,58,678 shares, equating to a 7.053% stake in the bank.

(iii) The acquisition did not affect the total voting capital of Bank of Baroda, which remains at 10,34,27,24,358.

Main Point :-   (i) The bank posted a standalone net profit of Rs 17,616 crore in Q4 FY25, marking a 6.7% increase from Rs 16,512 crore in the same quarter of the previous year.

      (ii) NII grew by 10.3% year-on-year, reaching Rs 32,070 crore, compared to Rs 29,080 crore in Q4 of FY24.

(iii) The total income for the quarter was Rs 89,488 crore, slightly lower than Rs 89,639 crore recorded during the corresponding period last year.

      - State-level and district-level activations will boost awareness and practical training. A WhatsApp-based learning program will help young individuals learn how to start and grow their own businesses.

Main Point :-   (i) A nationwide challenge that aims to discover high-potential business ideas from over 1,000 districts, with mentorship provided to the top emerging founders.

      (ii) BharatSparks a launchpad initiative where selected entrepreneurs from smaller towns will get the chance to pitch to investors, secure grants, and receive long-term support for their ventures.

(iii) A 7-part web documentary series showcasing real startup journeys from across India. It will feature innovators, investors, and policymakers, highlighting the grassroots startup ecosystem.

Main Point :-   (i) Captain Jagmohan was serving as the Director (Corporate Planning, Projects and Business Development) at Goa Shipyard Limited (GSL) prior to this appointment, and brings with him over 25 years of experience in the Indian Navy (IN) and shipbuilding industry.

      (ii) Earlier, as Head of Design at Garden Reach Shipbuilders & Engineers Limited (GRSE), Kolkata (West Bengal), he successfully led key defence projects such as the Advanced Stealth Frigate, P28 Anti-Submarine Warfare (ASW) Corvette, and Fast Patrol Vessels (FPV) for both the Indian Navy (IN) and Indian Coast Guard (ICG).

      - He brings over 16 years of cross-industry experience in digital lending, insurance, and enterprise software, with strong expertise in product development, customer service, and distribution.

Main Point :-   (i) TrillionLoans Fintech offers a diverse range of financial products, including merchant loans, Micro, Small and Medium Enterprises (MSME) finance, revenue-based lending, consumer credit, and vehicle loans.

      (ii) BharatPe, backed by Tiger Global, acquired a 51% stake in TFPL in May 2023, and later increased its shareholding to nearly 60%.

Main Point :-   (i) The ceremony was attended by Union Minister of State (MoS) Shantanu Thakur (MoPSW), Sushil Kumar Singh (IRSME), Chairman of Mumbai Port Authority (MBPA), Adesh Titarmare, Deputy Chairman of MBPA, Unmesh Sharad Wagh, Chairman of Jawaharlal Nehru Port Authority (JNPA), and Dhruv Kotak, Managing Director of J.M. Baxi, among other key dignitaries.

      (ii) MICT has been built at a total cost of ₹556 crore as part of the Cruise Bharat Mission. The terminal was created to promote cruise tourism across India and is aligned with global benchmarks for design and functionality.

(iii) The project was developed through a Public-Private Partnership (PPP) model, with operational management of the terminal being handled by JM Baxi & Co. (Mumbai) and Ballard Pier Port Private Limited (Mumbai).

Main Point :-   (i) Banks are also allowed to offer additional banking facilities—such as internet banking, debit cards, and cheque book facilities—to minor accounts, depending on their risk management policies.

      (ii) RBI has permitted minors below the age of 10 to open accounts as well, only through their natural or legal guardians.

(iii) It has specifically clarified that such accounts can now also be opened with the mother as the guardian.

Main Point :-   (i) Employees will receive accidental insurance coverage of up to ₹1 crore in case of death or disability due to accidents.

      (ii) Additional health and life insurance benefits will be provided at no extra cost.

(iii) Earlier, about 70,000 police personnel were covered under similar benefits (as of September 2024). With this new MoU, an additional 1.05 lakh employees will be included, taking the total coverage to approximately 1.75 lakh state government employees.

Main Point :-   (i) The implementation of the PAN-based trading freeze mechanism will be carried out in two phases—Phase-I will begin on July 01, 2025, for the top 500 listed companies (based on market capitalization), while Phase-II will cover the remaining listed companies starting from October 01, 2025. Listed companies are required to confirm the submitted data at least two trading days (T-2) before the trading window closure date. Following this, the Designated Depository (DD) will forward the verified information to stock exchanges and depositories at least one day prior to the closure period.

      (ii) Depositories will issue standardized formats and submission timelines to maintain consistency in reporting and compliance.

(iii) Any discrepancies or disputes in the process will be resolved through coordination among depositories, stock exchanges, and listed companies, as per SEBI.

      - The battery manufacturing facility will be located at the Gravity Smart Campus in Somerset, UK, and is scheduled to begin production by 2026.

Main Point :-   (i) The facility is expected to contribute nearly 50% of the UK’s projected battery manufacturing capacity for the automotive sector by the early 2030s.

      (ii) Jaguar Land Rover, a Tata Motors subsidiary, is anticipated to be the anchor customer. The plant will significantly aid the UK’s transition to electric mobility.

(iii) A bridge loan is a short-term financing option used to bridge the gap between two major financial events, such as buying a new asset before selling an existing one.

      - C-DOT developed and deployed industry-grade QKD systems, which have been approved by the Telecommunication Engineering Centre (TEC) under the DoT.

Main Point :-   (i) The test validated the coexistence of quantum and classical communication on the same optical fibre, allowing for secure and cost-efficient data transmission.

      (ii) Quantum Key Distribution (QKD) is a method of secure encryption key exchange based on quantum mechanics principles.

(iii) Multi-Core Fibre (MCF) is an advanced optical fibre featuring multiple cores (channels) within a single cladding, enabling concurrent data transmission through multiple paths.

      - RBI found the bank’s continued operations detrimental to depositors, as it was unable to repay its depositors in full.

Main Point :-   (i) The Deposit Insurance and Credit Guarantee Corporation (DICGC) has disbursed ₹47.89 crore to eligible depositors under Section 18A of the DICGC Act, 1961.

      (ii) Depositors are insured for up to ₹5 lakh per account as per DICGC norms.

Main Point :-   (i) The product includes complimentary Health Management Services (HMS) worth Rs 36,500 per year, covering regular health check-ups, OPD consultations, pregnancy-related support, and nutrition counseling.

      (ii) As of March 31, 2024, the company reported a Claim Settlement Ratio (CSR) of 99.23% and a solvency ratio of 432%, highlighting its financial strength and reliability.

Main Point :-   (i) The train operates daily between Mumbai’s Chhatrapati Shivaji Maharaj Terminus (CSMT) and Manmad Junction in Nashik district, Maharashtra, covering a journey of approximately 4 hours and 35 minutes.

      (ii) The initiative focuses on generating non-fare revenue while offering a practical service to passengers, particularly benefiting senior citizens, women, and those in need of emergency cash during travel.

Main Point :-   (i) During her address, the Union Minister praised BSE's technological advancements and its critical role in India's economic growth, emphasizing that BSE processes orders worth Rs 1,500 crore daily, highlighting its seamless integration with cutting-edge technology.

      (ii) Additionally, the market capitalization of BSE has reached Rs 400 lakh crore, positioning it among the top stock exchanges in the world.

Main Point :-   (i) Capitalmind AMC plans to launch actively managed equity schemes based on proven quantitative models like Adaptive Momentum and Surge India, which have shown consistent post-fee performance over the past five years.

      (ii) Currently, the firm manages over Rs 2,200 crore in assets under management (AUM) for more than 1,400 clients, maintaining a 98% annual client retention rate.

      - So far, Maharashtra has identified 160 routes under the UDAN scheme, with 105 of them already operational. The state's efforts to enhance regional connectivity through air travel were showcased during the event, reinforcing the government’s commitment to improving infrastructure.

Main Point :-   (i) Originally developed by the Public Works Department (PWD) in 1992, Amravati Airport had remained non-functional for years. Its revival was spearheaded by the Maharashtra Airport Development Company (MADC), which undertook significant infrastructure upgrades, including an extended runway and acquiring the necessary operating license from the Directorate General of Civil Aviation (DGCA).

      (ii) During the event, CM Fadnavis also announced the establishment of Southeast Asia’s largest pilot training institute in Amravati. The Flying Training Organisation (FTO) will open in the next six months, with 34 training aircraft. The institute aims to train 180 pilots annually, positioning India as a leader in aviation education.

(iii) Union Minister Rammohan Naidu highlighted the 40% increase in air passenger traffic over the last five years. He also pointed out the growth in India's airport infrastructure, with the number of airports in the country increasing from 74 in 2014 to 159 in 2025, further emphasizing the importance of the UDAN scheme and regional connectivity.

Main Point :-   (i) Tata Neu Infinity SBI Card: Joining & annual fees are ₹1,499, with a Spend-Based Annual Fee Reversal at ₹3,00,000.

      (ii) Tata Neu Plus SBI Card: Joining & annual fees are ₹499, with a Spend-Based Annual Fee Reversal at ₹1,00,000.

(iii) In April 2025, New York (United States of America, USA)-based Mastercard Inc. partnered with Kumbakonam (Tamil Nadu)-based City Union Bank Limited (CUB) to launch India’s first cricket-themed credit cards, offering exclusive benefits for fans of Indian Premier League (IPL) teams Chennai Super Kings (CSK) and Sunrisers Hyderabad (SRH).

Main Point :-   (i) ‘Amrit Vrishti’ was originally launched on 15th July 2024 and extended several times until its closure on 31st March 2025. The updated interest rates are effective from 15th April 2025.

      (ii) SBI has also revised interest rates for other FD tenures, implementing a 10 bps reduction effective from the same date — 15th April 2025.

(iii) The current interest rates for regular fixed deposits now range from 3.50% to 6.90% for tenures spanning 7 days to 10 years, while senior citizens receive between 4.00% and 7.50%, based on the duration.

      - The DUSTLIK-VI exercise focuses on Joint Multi-Domain Sub-Conventional Operations in semi-urban environments, simulating a range of counter-terrorism missions. These include territory capture, setting up a Joint Operations Centre at the battalion level, implementing population control measures, conducting raids, executing search-and-destroy operations, and ensuring coordinated deployment of air assets to enhance operational synergy.

Main Point :-   (i) The participating contingents in DUSTLIK-VI include 60 personnel from a battalion of the Indian Army's JAT Regiment along with Garud Commandos from the Indian Air Force (IAF), while the Uzbekistan contingent comprises personnel from the Uzbekistan Army.

      (ii) The key focus areas of DUSTLIK-VI include intensive counter-terrorism drills simulating scenarios like territory capture by terrorists, population control, raids, and search-and-destroy missions. A Joint Operations Centre (JOC) is established at the battalion level to facilitate coordinated planning and execution of operations between the participating forces.

(iii) Additionally, the exercise emphasizes the integration of air force capabilities such as Special Heliborne Operations (SHBO), Small Team Insertion and Extraction (STIE), reconnaissance, and logistics using helicopters. Advanced technology deployment also plays a crucial role, with the use of Unmanned Aerial Vehicles (UAVs) and Counter-Unmanned Aircraft System (C-UAS) measures to enhance operational efficiency.

      - The 651 kW Waterjet Propulsion System was developed at Larsen & Toubro’s AM Naik Heavy Engineering Complex located in Surat, Gujarat, as part of the company’s efforts to boost indigenous defence manufacturing capabilities.

Main Point :-   (i) This advanced propulsion system is engineered to support a range of critical naval operations, including high-speed interception, coastal patrolling, surveillance, and search-and-rescue missions. Its deployment is expected to significantly strengthen the Indian Navy’s coastal security framework.

      (ii) Unlike conventional propeller systems, the waterjet propulsion system operates by accelerating water through a pump to generate thrust, enabling rapid response and high-precision maneuverability. This makes it highly suitable for Fast Interceptor Crafts (FICs) engaged in agile, high-speed missions.

(iii) The system is equipped with integrated steering and braking mechanisms, allowing for a compact design that ensures better control at elevated speeds. It also delivers enhanced efficiency, reduced noise levels, and is capable of operating effectively in shallow-water environments.

Main Point :-   (i) A key objective of this initiative is to bridge the credit gap in Telangana, foster entrepreneurial ventures, and fuel inclusive economic growth in the region's developing business corridors.

      (ii) The partnership will emphasize digital-first lending solutions, tailored to meet the unique financial needs and operational models of MSMEs, ensuring faster, simpler, and tech-enabled financing options.

(iii) A special highlight of the collaboration is the integration of Godrej Capital’s women-centric initiative ‘Aarohi’, which aims to provide focused support and financial inclusion opportunities to women entrepreneurs across Telangana.

      - NPCI has also capped domestic transactions involving QR Share & Pay payments to non-verified offline merchants at Rs. 2,000 per transaction. This measure is intended to prevent fraud and encourage merchants to undergo proper verification and registration.

Main Point :-   (i) By restricting the transaction limit with unverified merchants, NPCI hopes to foster trust and transparency in small-scale peer-to-merchant (P2M) digital transactions across India, particularly in informal retail sectors.

      (ii) Another critical revision includes the prohibition of "collect requests" for reloading wallets. Merchants can no longer send UPI requests asking users to load money into prepaid wallets or gift cards, which had been commonly exploited in scams.

(iii) Instead, users will now be required to manually initiate wallet recharges using push-based transactions. This change gives consumers greater control over their funds and helps reduce unauthorized deductions due to fraudulent requests.

      - As per the provisions of Section 11(3) of FEMA, the RBI exercised its authority to levy the fine, emphasizing the need for vigilance and compliance among authorized dealers of foreign exchange.

Main Point :-   (i) Prior to the imposition of the penalty, the RBI had issued a Show Cause Notice to Citibank N.A., requesting justification for the suspected violation. The bank submitted a written response and also provided oral submissions during the proceedings.

      (ii) After a thorough evaluation of the case and the explanations provided, the RBI determined that the violation was established, and thus proceeded with the monetary penalty.

(iii) This action highlights RBI’s ongoing commitment to enforcing strict compliance with FEMA guidelines to ensure transparency and due diligence in foreign exchange transactions.

      - The Indian Institute of Creative Technologies (IICT) will be established as a not-for-profit Section 8 company under the Companies Act, 2013. The equity structure will include 34% by the Government of India, 14% by the Government of Maharashtra through MFSCDCL, and the remaining 52% equally shared between FICCI and CII, both headquartered in New Delhi.

Main Point :-   (i) The Government of India has sanctioned an initial grant of ₹391.15 crore for infrastructure development and early operations. In addition, MFSCDCL has allotted a 10-acre land parcel within Film City, Mumbai, on a 30-year lease to facilitate the establishment of the institute.

      (ii) IICT will initially operate from a temporary campus located at the premises of the National Film Development Corporation (NFDC) Limited in Mumbai. The institute envisions becoming a national centre for India's creative economy, fostering growth and innovation in the AVGC-XR sector.

(iii) Functioning as a Centre of Excellence (CoE), IICT will focus on training, education, research, and innovation in Animation, Visual Effects, Gaming, Comics, and Extended Reality. It will also form a Governing Council and sector-specific councils to maintain industry alignment, support global collaborations, and drive skill development and employment opportunities in the creative industries.

      - Additionally, USD 6.03 billion was signed with IRFC to boost transport infrastructure such as metro and suburban rail projects, and USD 843 million with NaBFID for smart infrastructure and urban development initiatives. These investments aim to support long-term, sustainable urban transformation across the region.

Main Point :-   (i) The event witnessed participation from key dignitaries including Union Minister Piyush Goyal (MoC&I) and Devendra Fadnavis, Chief Minister of Maharashtra, alongside other prominent industry leaders and policymakers.

      (ii) During the IGF NXT25 Summit, the Government of Maharashtra signed 5 Memoranda of Understanding (MoUs) valued at approximately USD 50 billion with leading domestic and international investors to enhance infrastructure, boost economic growth, and promote innovation across the state.

      - SEBI’s revised framework allows investors to opt for Systematic Investment Plans (SIPs), Systematic Withdrawal Plans (SWPs), and Systematic Transfer Plans (STPs) under SIFs. However, if market fluctuations reduce investment value below ₹10 lakh, immediate redemption is required.

Main Point :-   (i) SIFs are structured to bridge the investment gap between Mutual Funds (MFs) and Portfolio Management Services (PMS). They are designed for High-Net-Worth Individuals (HNIs), offering tailored strategies such as long-short equity, sectoral rotation, and multi-asset diversification.

      (ii) To launch SIFs, AMCs must have at least 3 years of operational history and should maintain an average Assets Under Management (AUM) of ₹10,000 crore or more over the last three years.

(iii) In a related development from March 2025, SEBI revised the minimum investment requirement for Zero Coupon Zero Principal (ZCZP) instruments listed on the Social Stock Exchange (SSE), lowering it from ₹10,000 to ₹1,000.

Main Point :-   (i) The MoU outlines initiatives for joint seminars, workshops, and research to build institutional capabilities.

      (ii) NaBFID and NDB will work together on research and capacity-building initiatives to promote knowledge sharing and strengthen institutional capabilities in infrastructure financing.

(iii) The New Development Bank (NDB), established in 2015 by the BRICS nations (Brazil, Russia, India, China, and South Africa), supports infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs).

      - BHIM Vega is a next-generation UPI plugin developed by NBSL, built upon the existing BHIM infrastructure to enable smoother in-app payment experiences.

Main Point :-   (i) The Razorpay Turbo UPI Plugin offers seamless in-app transactions by allowing users to complete payments without switching to third-party UPI applications. This feature reduces payment drop-offs and provides a smoother, more convenient user experience for customers making online transactions.

      (ii) The plugin is designed with enhanced reliability by using smart routing through multiple banking partners. This ensures higher success rates for transactions, even during downtimes or technical issues with one of the banks, making the payment process more stable and dependable.

(iii) For businesses, the plugin simplifies onboarding and integration. It enables companies to adopt the solution quickly and go live faster, helping them streamline operations and deliver a better payment experience to their customers.

Main Point :-   (i) The collaboration aims to deliver affordable credit solutions to borrowers residing in Tier 2 and Tier 3 cities, thereby supporting financial inclusion and contributing to economic growth across underserved regions.

      (ii) Piramal Finance brings its innovative ‘High Tech + High Touch’ model, blending advanced technology with personalized customer service, while ICICI Bank offers its deep financial and banking expertise, enhancing the partnership's overall effectiveness.

(iii) With a network of over 510 branches covering 13,000+ pin codes and catering to nearly 4.5 million customers across 26 states, Piramal Finance’s wide presence will significantly strengthen credit delivery and outreach under this alliance.

Main Point :-   (i) AI-ECTA enables duty-free access for 51,000 tonnes of Australian cotton annually to India, comprising 50,000 tonnes under an allocated quota and 1,000 tonnes under a first-come, first-served basis.

      (ii) According to data from Australia’s Department of Agriculture, Fisheries and Forestry (DAFF), Australia exported 50,719 tonnes of cotton to India in 2024, compared to 50,690 tonnes in 2023.

(iii) As per the latest ACSA Market Report, India was Australia’s 3rd largest cotton export market, accounting for 12% of exports, following China (28%) and Vietnam (26%).

Main Point :-   (i) SEBI recently relaxed disclosure norms for Foreign Portfolio Investors (FPIs) by increasing the asset threshold for granular Beneficial Ownership (BO) disclosures from Rs 25,000 crore to Rs 50,000 crore.

      (ii) Mumbai-based hBits Investment Management Private Limited, a fractional investment platform in commercial real estate, received SEBI’s approval to launch a Small & Medium Real Estate Investment Trust (SM-REIT) public issue.

(iii) hBits plans to raise up to Rs 500 crore through its Initial Public Offering (IPO) by June 2025.

      - This initiative aligns with PFL’s long-term vision of becoming the preferred financier for the self-employed segment. It also supports the Atmanirbhar Bharat mission by helping small retailers gain access to the formal credit ecosystem, promoting financial inclusion and business growth across underserved regions.

Main Point :-   (i) PFL is registered with the Reserve Bank of India (RBI) as a 'non-deposit taking NBFC' and currently operates across 18 states and 2 Union Territories (UTs).

      (ii) Earlier, in March 2025, PFL launched a new Commercial Vehicle (CV) Secured Loan Business to support India’s logistics and supply chain sectors.

(iii) As of March 31, 2025, PFL reported an Asset Under Management (AUM) of nearly Rs 35,550 crore.

Main Point :-   (i) The renaming of Khuldabad to Ratnapur reflects the Maharashtra government's broader mission to revive pre-Mughal place names, reaffirming the state's historical identity and heritage.

      (ii) Khuldabad, located about 25 kilometers from Chhatrapati Sambhajinagar, holds deep historical importance as the burial site of Mughal emperor Aurangzeb, and also houses the graves of his son Azam Shah and Asaf Jah I, the founder of the Hyderabad Nizam dynasty.

Main Point :-   (i) The expedition involves a 55-day sea voyage, covering around 4,000 nautical miles from Mumbai to Seychelles and back, aboard the Indian Armed Services Vessel (IASV) Triveni. The mission is set to culminate with a Flag-In Ceremony in Mumbai on 30th May 2025.

      (ii) The sailing team comprises a 12-member all-women crew, selected from 41 volunteers representing the Indian Army (IA), Indian Navy (IN), and Indian Air Force (IAF). These officers have undergone two years of extensive ocean sailing training.

(iii) Launched by the Ministry of Defence (MoD), this initiative aims to highlight the resilience, bravery, and leadership of women in the armed forces, while inspiring broader female participation in both maritime and defence sectors.

      - The company also contributed Life Cycle Inventory (LCI) data to worldsteel’s global data collection programme, which is essential for evaluating the environmental impact of steel products.

Main Point :-   (i) In Financial Year 2024-25 (FY25), Tata Steel achieved several sustainability milestones. It became India’s first steelmaker to manufacture hydrogen (H) transport-ready steel pipes, introduced biochar into its blast furnaces, and carried out India’s first B24 biofuel-powered raw material shipment, marking notable strides in green steel production and clean logistics.

      (ii) Additionally, Tata Steel launched the Carbon Bank, a virtual CO₂ repository designed to promote and track low-carbon products.

(iii) The company has set a target of achieving Net Zero emissions by 2045 and continues to lead in digital transformation, with multiple plants earning the World Economic Forum’s Global Lighthouse recognition for their advanced use of smart technologies.

Main Point :-   (i) The National Maritime Varuna Award is presented annually during India’s National Maritime Day celebrations to recognise individuals for their sustained and extraordinary contributions to the country’s maritime sector. The award commemorates India’s rich maritime heritage and the historic 1919 voyage of S.S. Loyalty, the first Indian-owned ship to sail internationally under the Indian flag.

      (ii) The award includes a statue of Lord Varuna and a scroll acknowledging the recipient’s significant contributions to the maritime industry.

(iii) India’s first coastal green shipping corridor will be developed between Kandla (Gujarat) and Tuticorin (Tamil Nadu, TN) in collaboration with the Shipping Corporation of India (SCI), Deendayal Port Authority (DPA) in Gujarat, and V. O. Chidambaranar Port Authority (VoCPA) in TN.

Main Point :-   (i) The primary objective of this innovation is to combat growing cyber threats related to SMS-based OTPs. By generating OTPs on the user’s device, Axis Bank offers a device-bound, time-sensitive solution that enhances protection against cyber fraud.

      (ii) The Mobile OTP feature allows users to log in to internet banking and authenticate transactions securely. It is accessible globally via internet, making it especially useful for seafarers, international travelers, and Non-Resident Indians (NRIs) who face OTP delivery issues while abroad.

(iii) The bank has also introduced instant alerts for login and transaction attempts, giving customers real-time visibility and greater control over their account activities.

      - The engine also integrates an advanced flex nozzle, providing precision in thrust vector control. This feature enables accurate maneuvering in space, enhancing the rocket’s capability for deploying payloads to desired orbits.

Main Point :-   (i) Kalam-100 is a solid-fuel engine with a carbon composite structure and EPDM-based thermal protection system, combining high strength with lightweight efficiency. It includes a head-mounted safe arm (HMSA) for enhanced safety, co-developed with ISRO’s Vikram Sarabhai Space Centre (VSSC).

      (ii) Previously, in March 2024, Skyroot had successfully tested the Kalam-250 engine (stage-2 of Vikram-1) at the Satish Dhawan Space Centre (SDSC) in Sriharikota, Andhra Pradesh. These progressive tests reflect Skyroot's consistent momentum in private launch vehicle development.

(iii) The Vikram-1 launch vehicle is designed to carry up to 480 kg of payload to a 500 km Low Earth Orbit (LEO). It includes four stages—three solid-fuel motors (Kalam-1200, Kalam-250, Kalam-100) and a final liquid-fueled Raman engine. Its first launch is expected by the end of 2025.

      - The third-stage rocket motor developed by SDAL has a propellant mass of 2,400 kg and delivers a maximum thrust of 75,000 Newtons (around 7.65 tons). It supports payloads of up to 290 kg into a 500 km Sun-Synchronous Polar Orbit (SSPO) or 480 kg into a 500 km Low Earth Orbit (LEO). For high-precision space maneuvering, it is equipped with a high-performance igniter and a flex nozzle-based Thrust Vector Control (TVC) mechanism, enhancing control in a vacuum environment.

Main Point :-   (i) The Vikram-1 is India’s first privately built orbital rocket, currently under development by Skyroot Aerospace Private Limited, based in Hyderabad (Telangana).

      (ii) The project receives strategic support from ISRO (Bengaluru, Karnataka) and IN-SPACE (Ahmedabad, Gujarat), both functioning under the Department of Space, Government of India (GoI).

(iii) The Vikram-1 rocket features a four-stage configuration comprising the Kalam-1200 solid motor in the first stage, followed by the Kalam-250 solid motor in the second stage, a third-stage solid rocket motor developed by Solar Defence and Aerospace Limited (SDAL), and concludes with a liquid-fueled Raman engine in the fourth stage, which is responsible for precise final orbital adjustments.

Main Point :-   (i) Under the MoU, KMBL, as a Scheduled Commercial Bank (SCB), will extend tailored banking solutions, including support for export documentation, fundraising workshops, and masterclasses on financial management for startups.

      (ii) The bank will also utilize its international branch network to help Kerala-based startups connect with Non-Resident Indians (NRIs) and explore global business opportunities.

(iii) On its part, KSUM will provide a robust framework comprising incubation support, mentorship programs, funding assistance, and access to startup infrastructure. It will further aid startups by facilitating connections with investors, industry experts, and government schemes to accelerate their growth journey.

      - In March 2025, Piramal Enterprises Limited (PEL) infused ₹600 crore into PFL through a rights issue to support its business operations and corporate expansion.

Main Point :-   (i) PEL has also approved the issuance of secured, rated, listed, redeemable non-convertible debentures (NCDs) on a private placement basis.

      (ii) The issue includes a base size of ₹100 crore, with a green shoe option of ₹200 crore, aggregating to ₹300 crore.

(iii) These NCDs carry an annual coupon rate of 9.30%, and are redeemable by April 9, 2029. In case of payment defaults, a 1% penalty interest will be applicable. The minimum Net Owned Fund (NOF) required to operate as an NBFC-ICC is ₹5 crore.

Main Point :-   (i) To function as a Past Risk and Return Verification Agency (PaRRVA), a Credit Rating Agency (CRA) must meet specific criteria. These include a minimum of 15 years of operational experience, a net worth of at least ₹100 crore, and a robust investor grievance redressal mechanism with an Online Dispute Resolution (ODR) system. Additionally, the CRA must have provided ratings to at least 250 issuers of debt securities.

      (ii) For a recognised Stock Exchange (SE) to serve as a PaRRVA Data Centre (PDC), it must also have a minimum of 15 years of experience, a net worth of ₹200 crore, and a nationwide presence through terminals.

(iii) The SE must further ensure an effective investor grievance redressal system, including an ODR mechanism, to qualify under SEBI’s operational framework.

      - The report also anticipates that India’s current account balance could record a surplus in Q4 FY25, driven by rising net service receipts despite a widening merchandise trade deficit.

Main Point :-   (i) In Q3 FY25, India's Current Account Deficit (CAD) stood at USD 11.5 billion, or 1.1% of GDP, rising from USD 10.4 billion in Q3 FY24.

      (ii) The merchandise trade deficit increased to USD 79.2 billion, up from USD 71.6 billion in the same quarter of the previous fiscal year.

      - The new species was observed at Dev Gireshwar Temple (Ansure, Ratnagiri), Uttamrao Patil Biodiversity Park (Chikhali, Chiplun-Guhagar Road, Ratnagiri), Kesharnath Vishnu Temple (Shedwai, Ratnagiri), and Phansad Sanctuary (Raigad).

Main Point :-   (i) Theobaldius konkanensis is endemic to the northern Western Ghats, a recognized biodiversity hotspot. It was recorded in evergreen and semi-evergreen forests at altitudes ranging from 80 to 240 meters above sea level.

      (ii) The newly discovered land snail, Theobaldius konkanensis, features a thick, conoidally depressed shell with brown striations and a corneous yellow tint, giving it a distinctive appearance suited to its natural habitat. Its small size, though not precisely measured, sets it apart morphologically from related species.

(iii) The snail’s body is stout and rounded, an adaptation well-suited for survival in the humid, forested ecosystems of the Western Ghats. These features support its ability to thrive in evergreen and semi-evergreen forest environments.

      - The project has significantly reduced travel time between Nagpur and Mumbai, cutting it down from 16–18 hours to just 7–8 hours.

Main Point :-   (i) Instituted in 2003, the SKOCH Awards recognize outstanding achievements in governance, inclusive growth, technology excellence, corporate leadership, citizen service delivery, and capacity building.

      (ii) The awards are conferred annually by the SKOCH Group, a Gurgaon (Haryana)-based full-service consulting firm established in 1997.

Main Point :-   (i) The initiative utilizes India Post’s vast network of over 1.5 lakh post offices to offer accessible and seamless KYC services, especially aiding senior citizens and individuals with mobility challenges.

      (ii) India Post has previously completed over 5 lakh KYC verifications for institutions like Unit Trust of India (UTI) and Specified Undertaking of UTI (SUUTI).

(iii) This initiative supports the Government of India’s Jan Nivesh campaign, which focuses on promoting financial inclusion and bridging the gap between the financially underserved population and formal financial systems.

Main Point :-   (i) Integration of AI-powered analytics, thermal vision, and high-resolution imaging systems is set to enhance India’s surveillance and reconnaissance capabilities.

      (ii) Two drone camera models, typically priced at Rs 20 lakh and Rs 40 lakh per unit when imported, will now be 50-60% cheaper due to local supply—benefiting both the Indian Armed Forces and commercial sectors.

(iii) The Indian drone market is projected to grow by 17% by 2029, driven by rising demand in sectors like defence, agriculture, infrastructure, and surveillance.

Main Point :-   (i) This deal follows the successful delivery of the first batch of 100 K9 Vajra-T units ordered in 2017, under a procurement agreement valued at USD 310 million.

      (ii) Out of these, 10 units were manufactured in South Korea, while the remaining 90 units were assembled in India by L&T.

(iii) The new batch of K9 Vajra-T howitzers will be manufactured in partnership with Hanwha Aerospace at L&T’s Armoured Systems Complex (ASC) located in Hazira near Surat, Gujarat.

      - Born as Harikrishna Giri Goswami, Manoj Kumar began his film career with minor roles in movies such as Fashion (1957), Sahara (1958), and Chand (1959). He earned his first lead role in Kaanch Ki Gudiya (1961), but it was Hariyali Aur Rasta (1962) that brought him initial recognition. His role in Shaheed (1965), based on the life of freedom fighter Bhagat Singh, firmly established him in the Indian film industry.

Main Point :-   (i) Manoj Kumar made his directorial debut with Upkar (1967), highlighting the life of a soldier and a farmer. He continued to create patriotic films like Purab Aur Paschim (1970) and Kranti (1981), earning him the title ‘Bharat Kumar’.

      (ii) He won the National Film Award for Upkar in 1968 and received seven Filmfare Awards, including Best Actor (Be-Imaan), Best Editing (Shor), Best Director (Roti Kapda Aur Makaan), and a Lifetime Achievement Award in 1999.

(iii) In recognition of his cinematic legacy, he received the Kishore Kumar Award (2008), Raj Kapoor Award (2010), and the prestigious Dadasaheb Phalke Award in 2016.

Main Point :-   (i) The initiative targets coverage of over 40 million inbound visitors to the UAE annually.

      (ii) With this launch, India Assist enters the international travel assistance domain for the first time.

(iii) Previously, India Assist supported major events like the 2025 Mahakumbh in Uttar Pradesh (UP) and served as the official assistance partner for MotoGP.

Main Point :-   (i) The project is valued at ₹270 crore and is 70% government-funded, focusing on creating a prototype engine with over 50% indigenous content.

      (ii) The project includes the development of detailed designs for diesel engines ranging from 3 to 10 MW, intended for use in the main propulsion and power generation of Indian Navy and Coast Guard vessels.

(iii) The primary objective is to replace the current dependence on high-capacity engines sourced from foreign Original Equipment Manufacturers (OEMs) with domestically developed alternatives.

Main Point :-   (i) The platform integrates with multiple ordering applications across sectors like Fast-Moving Consumer Goods (FMCG), Pharma, Automotives, and Healthcare.

      (ii) It enables wholesale distributors and retailers to make invoice payments directly from their applications.

(iii) Axis Bank acts as a Biller Operating Unit (BOU), offering a customizable and scalable solution.

      - It aims to boost agricultural output by facilitating better access to financial resources and promoting sustainable rural livelihoods.

Main Point :-   (i) The initiative supports broader goals of financial inclusion and economic empowerment of underserved farming communities.

      (ii) This collaboration is part of Citi’s global commitment to invest USD 1 trillion in sustainable finance by 2030, which includes support for 15 million low-income households globally.

Main Point :-   (i) The platform offers advanced insights into Travel and Expenses (T&E), which are typically unavailable through conventional promotional travel partnerships.

      (ii) India’s loyalty market is expected to grow and reach USD 7.92 billion by 202

Main Point :-   (i) The new algo trading norms were announced on February 4, 2025, targeting retail investors using automated software to place trading orders.

      (ii) The framework clearly defines the roles of brokers (as principals) and algo providers (as agents), where the latter operate using broker-authorized Application Programming Interfaces (APIs).

(iii) Every algo order must include a unique identifier for improved auditability and tracking.

      - Pensioners have the option to open a joint savings account with their spouse to ensure uninterrupted family pension payments.

Main Point :-   (i) The bank offers a range of benefits under its Savings Account for pensioners, including zero-fee banking on 36 services such as debit card issuance, IMPS, NEFT, RTGS, chequebooks, and ATM withdrawals.

      (ii) Senior citizens also receive ₹2 lakh cyber insurance, unlimited online health consultations, and free doorstep banking.

(iii) Additionally, the bank provides favourable fixed deposit terms with no penalty on premature withdrawals and an extra 0.5% interest on Fixed Deposits (FDs) for senior citizens.

      - Prior to joining IESA, he served as India Lead – Advanced Energy Solutions at the World Economic Forum (WEF) from June 2023 to March 2025.

Main Point :-   (i) The India Energy Storage Alliance (IESA) was founded by the United States of America (USA)-based Customized Energy Solutions (CES). It aims to establish India as a global leader in clean energy technologies by promoting advancements in energy storage, green hydrogen, and related sectors.

      (ii) IESA has a strong network of members comprising over 180 companies, including those involved in Electric Vehicle (EV) manufacturing, microgrids, cleantech startups, and research institutes.

(iii) Its core mission is to accelerate India’s net-zero emissions target by 2070 through innovation in battery storage, grid modernization, and green hydrogen technologies.

Main Point :-   (i) Vishakha Mulye has been appointed as Managing Director (MD) & Chief Executive Officer (CEO) of ABCL.

      (ii) Rakesh Singh has been appointed as Executive Director (ED) and CEO of ABCL.

(iii) Nagesh Pinge and Sunil Srivastav have been appointed as Independent Directors of ABCL.

      - The stamp symbolizes RBI's evolution, featuring its original headquarters in Kolkata (West Bengal) and current headquarters in Mumbai. It also includes the 90th-anniversary emblem with the motto "Stability. Trust. Growth," reflecting RBI's foundational principles.

Main Point :-   (i) Established under the RBI Act, 1934, the Reserve Bank of India (RBI) initially operated from Kolkata before shifting its headquarters to Mumbai in 1937. It plays a crucial role in monetary policy implementation, currency management, government debt oversight, and financial regulation.

      (ii) The RBI actively promotes financial inclusion, consumer protection, and digital literacy through various initiatives, including the Post Office Savings Bank (POSB). It ensures a stable financial ecosystem while fostering economic growth.

(iii) Sir Osborne Smith was the first Governor of the RBI, followed by Sir C.D. Deshmukh, the first Indian to hold the position. The RBI issues currency notes in denominations of Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, and Rs 500, while coins in Rs 1, Rs 2, Rs 5, and Rs 10 denominations are overseen by the Ministry of Finance (MoF).

      - The Pune Centre for Forensic AI will integrate artificial intelligence with forensic science to strengthen criminal investigations. It will enhance forensic data analysis, streamline evidence management, and improve overall crime-solving capabilities, contributing to a more efficient justice system.

Main Point :-   (i) The Nagpur-based Maharashtra Advanced Research and Vigilance for Enforcement of Reformed Laws Limited (MARVEL) will focus on AI-driven solutions for government functions. Its key areas will include enforcement, monitoring, and governance reforms. The Indian Institute of Management (IIM) Nagpur in Dahegaon, Maharashtra, will collaborate with MARVEL to provide specialized training and capacity-building programs.

      (ii) As part of the AI CoE initiative, Microsoft will offer government employees AI training and certification through the Microsoft Learn platform to enhance their technological skills.

(iii) The Government of Maharashtra will leverage Microsoft’s advanced Copilot technology to boost productivity, streamline administrative operations, automate document processing, and improve citizen services. This initiative aims to enhance service delivery at the grassroots level, ensuring efficient governance and better responsiveness to public needs.

      - Spanning 150 acres with a built-up area of 101 acres, the Chikhli facility highlights Waaree's commitment to a sustainable energy future for India. The plant also produces Mono PERC solar power cells, with trial production beginning in January 2025.

Main Point :-   (i) Waaree Energies invested $350 million (₹3,000 crore) in its Chikhli campus, reinforcing its commitment to solar technology. This facility is one of four in India, alongside plants in Surat (Gujarat), Nandigram (West Bengal), and Noida (Uttar Pradesh).

      (ii) The facility can manufacture 20 solar cells per second with 25% efficiency, boosting India's energy independence and reinforcing Waaree Energies as a leader in solar technology.

(iii) The TOPCon solar cells in the new facility feature a thin oxide and poly-crystalline silicon layer, enhancing energy conversion rates. Note: India's solar power capacity has grown from 2.82 GW in 2014 to 104 GW in March 2025, a remarkable 3,580% increase.

      - Under this collaboration, NABARD and SBI have set a financing target of Rs. 500 crores for the Financial Year 2025-26 (FY26), with plans to increase it to Rs. 1,000 crores annually in the future.

Main Point :-   (i) The initiative will focus on providing financial assistance to the agricultural and rural sectors, ensuring better access to credit, infrastructure, and sustainable livelihood opportunities.

      (ii) This partnership is expected to play a crucial role in empowering rural Assam and fostering long-term economic growth.

(iii) NABARD also signed an MoU with Digital Bharat Nidhi (DBN), under the Department of Telecommunications (DoT), Ministry of Communications (MoC), for Digital Rural Empowerment across the country.

Main Point :-   (i) Loans were transferred via the IBPC market, a short-term instrument (typically 6 months) allowing banks to borrow/lend against loan collateral.

      (ii) Acquired loans carry an interest rate of 7.5-8%.

(iii) IndusInd Bank aims to secure liquidity to offset risks from a ₹2,000 crore net worth erosion linked to accounting irregularities.

      - The shares will be issued within 30 days after securing approvals from regulators, including the Securities and Exchange Board of India (SEBI).

Main Point :-   (i) Post-conversion, the GoI will become the single-largest shareholder, surpassing current promoters Aditya Birla Group (14.76%) and Vodafone Group (22.56%).

      (ii) The conversion addresses VIL's deferred spectrum liabilities, including dues for the Financial Year 2025-26 (FY26) amounting to ₹32,723.5 crore (covering 2015 spectrum auction shortfalls and adjusted gross revenue (AGR) obligations).

(iii) The GoI's enhanced stake reflects its commitment to sustaining competition in India's telecom sector.

      - In Nagpur, PM Modi inaugurated a state-of-the-art Loitering Munition Testing Range and an exclusive runway for unmanned aerial vehicles at Solar Defence and Aerospace Limited.

Main Point :-   (i) PM Modi inaugurated and laid the foundation stones for multiple projects worth over ₹33,700 crore in Mohbhattha village, Bilaspur district, Chhattisgarh.

      (ii) During the event, PM Modi flagged off the Mainline Electric Multiple Unit train service on the Abhanpur-Raipur route via Mandir Hasaud, enhancing regional rail connectivity.

(iii) PM Modi laid the foundation stone for NTPC’s Sipat Super Thermal Power Project Stage III with a capacity of 800 Megawatts in Bilaspur, contributing to India's growing energy sector.

      - SPDs were also allowed to participate in other operations, such as long-term Variable Rate Repo (VRR) operations and daily VRRs, on a case-by-case basis.

Main Point :-   (i) A Primary Dealer (PD) refers to an RBI-registered Non-Banking Financial Company (NBFC) authorized to buy and sell Government Securities (G-Secs), as per the 'Guidelines for Primary Dealer in Government Securities Market' dated March 29, 1995.

      (ii) PDs in India are classified into two categories: Standalone Primary Dealers (SPDs) and Bank PDs. SPDs are entities either incorporated abroad, subsidiaries of Scheduled Commercial Banks (SCBs), or registered under the Companies Act as NBFCs.

(iii) The Standing Liquidity Facility is a window that allows SPDs to borrow money from RBI at the repo rate. Variable Rate Repo (VRR) is used to infuse short-term liquidity into the banking system, allowing banks to borrow at a rate lower than the repo rate for up to 14 days.

      - The platform leverages blockchain technology to enable multi-currency, 24/7 payment movements with programmable payments, reducing liquidity costs and enhancing cash management efficiency.

Main Point :-   (i) The round-the-clock USD clearing facility will be managed from Gujarat International Finance Tec-City (GIFT City), reinforcing India's position as a global financial hub.

      (ii) The integration of Kinexys Digital Payments (KDP) enables Axis Bank’s clients to streamline payments, unlock liquidity, and execute cross-border transactions seamlessly, while automated cash management and no-deduction payment rails further optimize payments and liquidity.

      - Anahat Singh has made remarkable progress in her squash career, gaining recognition as the youngest Indian athlete at the 2022 Commonwealth Games. She later won the senior national championship in November 2023 and secured her third British Junior Open title in January 2025.

Main Point :-   (i) The Indian Open 2025, a PSA Copper event with a prize pool of USD 53,500, was held at the historic Bombay Gymkhana from March 24 to 28, 2025.

      (ii) The tournament featured both men's and women's categories, with quarterfinals onwards played on a full-glass outdoor court.

(iii) In the men’s singles final, Kareem El Torkey of Egypt defeated India’s Abhay Singh with a score of 12-10, 11-4, 7-11, 12-10, securing his sixth PSA title and earning 500 ranking points.

      - The International Monetary Fund (IMF) established the Advisory Council on Entrepreneurship and Growth in March 2025 to address global economic challenges, particularly declining productivity and sluggish growth. The council plays a vital role in developing strategies for economic growth.

Main Point :-   (i) The council is led by IMF Managing Director (MD) Kristalina Georgieva and focuses on shaping macroeconomic and financial policies that foster productivity, innovation, and sustainable economic growth worldwide.

      (ii) This advisory council comprises experts from business, finance, academia, and policymaking who collaborate to support innovation, entrepreneurship, and productivity globally, ensuring sustainable economic development.

(iii) The IMF's Advisory Council on Entrepreneurship and Growth includes prominent global leaders such as Professor Ufuk Akcigit (University of Chicago), HRH Ambassador Reema Bandar Al-Saud (Saudi Arabia's Ambassador to the USA), Marc Benioff (CEO of Salesforce), Ana Botin (Executive Chair of Banco Santander), Natarajan Chandrasekaran (Chairman of Tata Group), Margherita Della Valle (CEO of Vodafone Group), Tony O. Elumelu (Founder of Heirs Holdings), Robert Smith (CEO of Vista Equity Partners), and Federico Sturzenegger (Argentina’s Minister of Deregulation and State Transformation).

      - SEBI has proposed new position limits for index derivatives to better reflect actual market risks.

Main Point :-   (i) For index options, the end-of-day limits are set at Rs 500 crore (net) and Rs 1,500 crore (gross), while intraday limits are Rs 1,000 crore (net) and Rs 2,500 crore (gross).

      (ii) For index futures, the end-of-day limit has been increased from Rs 500 crore to Rs 1,500 crore, with an intraday limit of Rs 2,500 crore.

(iii) SEBI has extended the deadline for Regulated Entities (REs) to adopt the Cybersecurity and Cyber Resilience Framework (CSCRF) until June 30, 2025, providing a 3-month extension from the original deadline.

Main Point :-   (i) The banking system has faced a persistent liquidity deficit despite RBI’s recent liquidity injections using tools such as daily VRR auctions, long-term VRRs, USD/INR Buy/Sell swap auctions, and Open Market Operations (OMOs).

      (ii) RBI is addressing the prevailing liquidity deficit of Rs. 1.58 lakh crore (as of March 2025), enhancing the ability of SPDs to efficiently manage short- and long-term liquidity needs.

Main Point :-   (i) The company plans to offer a diverse range of mutual fund products aligned with its research-driven investment approach.

      (ii) The new mutual fund venture will cater to various investor segments, including retail investors, High Net-worth Individuals (HNI), Ultra High Net-worth Individuals (UHNI), and institutional investors.

(iii) According to the Association of Mutual Funds in India (AMFI) January 2025 report, the Assets Under Management (AUM) of Indian mutual funds have experienced significant growth, rising from Rs. 24 lakh crore in March 2019 to Rs. 67 lakh crore in January 2025.

Main Point :-   (i) Upon completion of this transaction, ISARC will become a subsidiary of Authum Investment. The RBI has also granted approval for Authum Investment to nominate two directors to ISARC's board.

      (ii) The deal takes place amid a turbulent phase for the Asset Reconstruction Company (ARC) sector, with multiple firms exiting the market.

(iii) Notable departures include Blackstone-backed International Asset Reconstruction Company and Aditya Birla Asset Reconstruction Co. Additionally, Arcion Revitalization (supported by Apollo Global and ICICI Bank) and Lonestar India have also shut down operations.

      - Ambuj Chandna previously served as President and Head of Consumer Bank (Products) at Mumbai (Maharashtra)-based Kotak Mahindra Bank (KMB) Limited.

Main Point :-   (i) During his 16-year tenure at KMB, Ambuj Chandna held several key leadership roles, including President - Consumer Assets, Head Consumer Assets, and Senior Executive Vice President (EVP) & Head Retail Liabilities, Investments, and Payments Products.

      (ii) Before joining KMB, he was associated with ING Vysya Bank (now merged with KMB), where he held key roles such as Chief Distribution Officer (CDO) - Retail Liabilities, Group Head Branch Banking, and Group Head Marketing, Liabilities, and Direct Channels.

(iii) His prior experience includes senior leadership roles at Fullerton Financial Holdings (FFH) Private Limited in the United Arab Emirates (UAE), Citibank N.A. India, Deutsche Bank, Standard Chartered Bank (SCB), and GE TFS Limited (now known as GE Vernova T&D India Limited).

      - Policyholders can check their driving scores through the Zuno app, which gives real-time feedback and tips for improving driving behavior.

Main Point :-   (i) Zuno General Insurance’s ‘PHYD’ model offers personalized premiums, allowing safe drivers to reduce their insurance costs based on actual driving performance. This approach ensures that responsible driving is rewarded with lower premiums, making motor insurance fairer and more transparent.

      (ii) Additionally, policyholders can benefit from a rewards system that grants weekly and monthly incentives. They can also participate in a leaderboard within the app, fostering healthy competition among drivers while encouraging safer driving habits.

(iii) Zuno’s innovative approach enhances cost control by allowing drivers to influence their premiums through better driving behavior. By moving away from traditional fixed pricing models, this data-driven system aligns with global trends in motor insurance, leveraging technology for more accurate risk assessment and fairer premium structures.

Main Point :-   (i) Under the MoU, eligible customers can avail of a maximum loan of Rs. 10 crore, helping to remove financial barriers to adopting solar energy.

      (ii) The loans provided will have a repayment period of up to 10 years, and the interest rate will be based on the customer's credit profile.

Main Point :-   (i) This strategic partnership seeks to enhance auditors' sector-specific expertise, improve risk and performance analysis, and promote transparency, accountability, and data-driven excellence in public financial management.

      (ii) A customized training course for 45 CAG officials is scheduled to commence in the 3rd week of April 2025.

(iii) The course is designed to equip CAG officials with essential skills to effectively audit and manage logistics and supply chain operations within the public sector.

      - The Bank of India (BOI) signed its first-ever Memorandum of Understanding (MoU) with the Indian Air Force (IAF) to offer customized banking benefits through the ‘BoI Rakshak Salary Package’ to IAF personnel, veterans, and Agniveers under the Agnipath scheme.

Main Point :-   (i) The MoU exchange ceremony took place at the IAF Headquarters in New Delhi, with Air Vice Marshal Updesh Sharma, Assistant Chief of Air Staff (Accounts & Air Veterans), presiding over the event.

      (ii) The package includes enhanced financial perks, such as Personal Accident Insurance (PAI) coverage of ₹100 lakh, providing security in case of unforeseen incidents. Additionally, it offers Air Accident Coverage of ₹200 lakh, ensuring substantial financial protection for IAF personnel. The package also includes special benefits on debit and credit cards, enhancing convenience and financial flexibility for account holders.

(iii) This partnership reflects BOI's commitment to providing tailored financial solutions to defense personnel, ensuring greater financial security and convenience for IAF members and their families.

Main Point :-   (i) The solution integrates AI with human oversight to automate loan application assessments. It analyzes multiple data points, ensuring efficiency, accuracy, and scalability while prioritizing risk management. By minimizing manual intervention, the system accelerates credit approvals and strengthens PFL’s risk management framework.

      (ii) The system utilizes Large Language Models (LLMs) and Machine Learning (ML) algorithms to interpret complex data patterns, enabling more refined and data-driven lending decisions.

(iii) PFL anticipates a 40% increase in productivity for credit managers in retail lending, a sector crucial to advancing financial inclusion.

      - The minimum deposit amount is $5,000, with additional investments in multiples of $1,000. The bank has not specified a maximum deposit limit.

Main Point :-   (i) Interest rates are tenure-based and are revised monthly on the 1st of every month.

      (ii) Premature withdrawals are permitted, but a penalty fee applies. Investors cannot modify the FD tenure after making the investment.

Main Point :-   (i) The funds will be used to repower existing solar assets, improving their efficiency and operational performance.

      (ii) Backed by an $800 million investment from Actis' Energy Fund 5, BluPine Energy aims to develop a renewable energy portfolio exceeding 4 Gigawatts (GW) in India.

(iii) NaBFID, a specialized bank established by an Act of Parliament in 2021, has structured this transaction to support India’s transition to renewable energy by facilitating long-term infrastructure financing.

      - This is supported by the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Scheme.

Main Point :-   (i) CGTMSE will provide funding support of up to 90-95% under this scheme. For loans up to Rs 5 crore without collateral, only 25% of the amount must be shown as an investment.

      (ii) The interest rates for these loans will range between 8.75% and 9.75%, depending on the credit rating of the unit. The funding process for new units is expected to be completed within 30 to 45 days.

Main Point :-   (i) Companies at various stages of growth can access funding, with ₹10 crore to ₹30 crore available for growth-stage startups and ₹30 crore to ₹60 crore for late-stage startups.

      (ii) The ₹1,000 crore fund aims to accelerate the growth of the Indian space economy, which is expected to rise from ₹8.4 billion in 2022 to ₹44 billion by 2033, while also increasing India's share in the global space economy to 8-10% by 2040.

      - This move aims to ensure high standards of transparency, accountability, and ethical conduct of members and officials of the board.

Main Point :-   (i) The Board of SEBI has eased investment restrictions for Category-II Alternative Investment Funds (AIFs), including private equity and debt funds, enabling them to invest in listed debt securities rated 'A' or below.

      (ii) It has introduced key changes regarding the appointment of Public Interest Directors (PIDs) and the cooling-off period for key management personnel (KMP) and directors for Market Infrastructure Institutions (MIIs).

(iii) It has clarified that the earlier process of appointment of PIDs, which requires the approval of SEBI but not shareholders, will continue.

Main Point :-   (i) CIRL, which now partners with 43 insurance companies (including 23 life insurers), will leverage LIC's inclusion to expand value-added services for policyholders nationwide.

      (ii) Notably, LIC holds a 4.4% stake in CDSL and 8.3% in CIRL, while CDSL maintains 51% direct ownership and 3.25% via its subsidiary CDSL Ventures Limited.

Main Point :-   (i) The partnership aims to enhance undersea domain awareness by focusing on manufacturing, system interoperability, ocean testing, and establishing Maintenance, Repair, and Overhaul (MRO) capabilities for the Wave Glider ASV platform.

      (ii) It aligns with the US-India Autonomous Systems Industry Alliance (ASIA) initiative, fostering industry partnerships and strengthening production capabilities across the Indo-Pacific region.

(iii) In January 2025, India and the USA announced a first-of-its-kind partnership to co-produce Multi-Static Active (MSA) Sonobuoys. Ultra Maritime (UM) from the USA has partnered with Bharat Dynamics Limited (BDL) from India to manufacture these systems in India for the Indian Navy (IN).

Main Point :-   (i) This makes Paras Defence the first Indian company to develop such an advanced laser system, boosting local innovation in defence technology.

      (ii) The Total Addressable Market (TAM) for high-power laser defence systems is estimated at ₹25,000 crore.

Main Point :-   (i) The RBI fined IDBI Bank a penalty of Rs 36,30,000 for failing to conduct due diligence while processing inward remittances from a Foreign Currency Account (FCA) opened by a constituent, leading to a violation of Section 10(4) of FEMA, 1999.

      (ii) The RBI fined Citibank N.A. a penalty of Rs 36,28,000 for failing to comply with RBI's guidelines on reporting transactions under the Liberalised Remittance Scheme (LRS), which permits Indian residents to remit funds abroad. The penalty was imposed under Section 11(3) of FEMA, 1999.

Main Point :-   (i) This initiative allows investors to store and access information on their demat and mutual fund (MF) holdings, along with Consolidated Account Statement (CAS) through DigiLocker, a key Digital Public Infrastructure (DPI).

      (ii) The DigiLocker system will be notified about the user’s death by Know Your Customer (KYC) Registration Agencies (KRAs), and the system will automatically notify the data access nominees.

Main Point :-   (i) In January 2025, NIPL also partnered with Middle East-based payment solution provider Magnati to expand QR-based UPI merchant payments in the United Arab Emirates (UAE).

      (ii) UPI is now operational in Singapore, Maldives, Qatar, Sri Lanka, Mauritius, Bhutan, Nepal, UAE, and Canada.

(iii) HitPay is a comprehensive payments infrastructure platform designed for growing businesses across the Asia Pacific (APAC) region, providing unified solutions for e-commerce, point-of-sale (POS), and business-to-business (B2B) payments.

Main Point :-   (i) The acquisition aims to expand IIHL's footprint in India’s Banking, Financial Services, and Insurance (BFSI) sector, with a focus on long-term value creation.

      (ii) The acquisition process follows IIHL's successful bid in April 2023 under the Corporate Insolvency Resolution Process (CIRP), which was initiated by the Reserve Bank of India (RBI) due to financial irregularities in the Anil Ambani-led Reliance Group.

Main Point :-   (i) This scheme allows individuals to start investing with as little as ₹250, offering daily, weekly, or monthly SIP options to cater to diverse financial needs.

      (ii) The scheme, starting at just ₹250, makes investing accessible for first-time investors and small savers. Investors can set up SIPs through the Paytm application (app), SBI You Only Need One (YONO), and other digital platforms.

(iii) This initiative aims to democratize investing and contribute to long-term financial security for millions of Indians, particularly those in rural, semi-urban, and urban areas.

Main Point :-   (i) Paytm Money is now authorized to provide expert-backed research and advisory services for retail and institutional investors.

      (ii) The platform continues to support Mutual Funds (MF), stocks, Initial Public Offerings (IPOs), Exchange-Traded Funds (ETFs), and the National Pension System (NPS), promoting financial inclusion.

(iii) Paytm Money has integrated features such as Unified Payments Interface (UPI) Trading Blocks for seamless payment deductions and advanced tools to assist investors in making informed decisions.

Main Point :-   (i) Post-acquisition, BFS will hold 75.01% in both ventures, while the promoter entities will hold 24.99%. This will increase Bajaj Group’s ownership in the JVs to 100%.

      (ii) The acquisition is subject to regulatory approvals. Under the Share Purchase Agreement (SPA), BFS will directly acquire approximately 1.01% of each company, Bajaj Holdings & Investment will acquire approximately 19.95%, and Jamnalal Sons (promoter entities) will acquire approximately 5.04%.

(iii) Once the acquisition is completed, Allianz will no longer be a promoter of these JVs, and the JV agreements between Allianz SE and BFS will be terminated, marking the end of a 24-year partnership between Bajaj and Allianz.

Main Point :-   (i) The agreement intends to offer customized credit solutions with attractive interest rates, focusing on Tier 2 and Tier 3 cities to improve access to formal loans.

      (ii) Punjab & Sind Bank, with 1,575 branches, brings strong financial expertise, while Piramal Finance, with over 514 branches covering 13,000 pin codes, serves 4.5 million customers across 26 states.

(iii) Together, they combine solid underwriting practices with advanced credit evaluation tools to provide efficient credit solutions.

Main Point :-   (i) The 3rd edition of WPL was held from 14 February to 15 March 2025, with matches played across four cities: Vadodara (Gujarat), Bengaluru (Karnataka), Lucknow (Uttar Pradesh, UP), and Mumbai (Maharashtra).

      (ii) The tournament, branded as TATA WPL 2025, featured 5 teams: Gujarat Giants Women (GG-W), Royal Challengers Bengaluru Women (RCB-W), Mumbai Indians Women (MI-W), Delhi Capitals Women (DC-W), and UP Warriorz Women (UPW-W).

(iii) In the final, MI-W batter Natalie Ruth Sciver-Brunt became the first player to score 1000 runs in WPL history.

Main Point :-   (i) To simplify the process, SEBI has simplified the Letter of Offer (LoF), which will now only require key details like the purpose of the issue, price, record date, and entitlement ratio.

      (ii) A monitoring agency must now oversee how the funds raised from all types of rights issues are used. Previously, issuers raising less than Rs 50 crore through rights issues didn’t need to appoint a monitoring agency.

(iii) With the new system, companies can raise funds more quickly than through the preferential allotment route, which takes 40 working days. This makes rights issues more efficient and investor-friendly.

Main Point :-   (i) Once operational, Amravati Airport will become the third commercial airport under the Maharashtra Airport Development Company Limited (MADC), joining Babasaheb Ambedkar International Airport (Nagpur) and Shirdi Airport (Shirdi).

      (ii) The airport, developed by the Public Works Department (PWD) in 1992, had remained non-operational for public use until now.

(iii) MADC has undertaken significant upgrades to the airport, including extending the runway and adding other facilities to meet DGCA licensing requirements.

      - The word 'Sarthi,' derived from Hindi meaning 'Charioteer,' is a system formally launched in 2023 to digitize all internal workflows of the RBI. It enables employees to securely store and share documents, enhancing record management and improving data analysis through reports and dashboards.

Main Point :-   (i) Launched by RBI in 2024, 'PRAVAAH' (meaning 'smooth flow' in Hindi) is a centralized, secure web-based platform that enables individuals and entities to apply online for regulatory approvals, licenses, and authorizations.

      (ii) All submitted documents are stored in the Sarthi database and managed digitally across RBI’s offices with centralized cybersecurity systems and digital tracking. Since its launch, the platform has digitized over 70 regulatory applications across 9 departments, with over 2,000 applications filed by the end of 2024, marking an 80% increase in monthly submissions due to its user-friendly interface.

(iii) The 12th annual industry awards recognize excellence in the central banking community, featuring 16 central bank categories and 15 partner and service provider categories. The official award ceremony is scheduled for June 2025 at One Whitehall Place, London (UK).

      - The startup will now work with Category-1 banks (RBI licensed banks that can deal in foreign exchange) to handle export and import collection accounts, allowing businesses to make secure payments.

Main Point :-   (i) Currently, BRISKPE processes around 10,000 export transactions monthly. With the addition of import services, the company expects this number to increase to 100,000 transactions by the end of the next financial year (2025-26).

      (ii) This development aims to improve the efficiency, security, and transparency of international payment systems for businesses involved in global trade.

      - The shipyard has also secured an additional contract to build 4 Sullage Barges for the Indian Navy, reflecting the Navy’s commitment to supporting MSMEs.

Main Point :-   (i) The ACTCM Barges were indigenously designed by the shipyard in collaboration with an Indian Ship Designing firm. To ensure seaworthiness, the design underwent model testing at the Naval Science and Technological Laboratory (NSTL), Visakhapatnam, Andhra Pradesh. The construction adheres to the regulations of the Indian Register of Shipping (IRS).

      (ii) The induction of LSAM 23 aligns with the Make in India and Aatmanirbhar Bharat initiatives, reinforcing self-reliance in defense manufacturing. This step highlights India's growing capabilities in indigenous shipbuilding and maritime logistics.

(iii) These barges will enhance the Indian Navy’s operational efficiency by enabling the seamless transportation, embarkation, and disembarkation of ammunition and essential supplies to naval platforms, both at jetties and outer harbors, ensuring sustained maritime operations.

Main Point :-   (i) The goal is to provide financial security to borrowers and their families, protecting them from loan liabilities in case of unforeseen circumstances.

      (ii) Canara HSBC Life Insurance is a joint venture (JV) comprising Canara Bank Limited (51%), HSBC Insurance (Asia Pacific) Holdings Limited (26%), and Punjab National Bank (PNB) (23%).

Main Point :-   (i) Transitioned to Low-Temperature Thermal Destruction (LTTD) technology, converting waste into eco-friendly materials like bricks and pots, thus avoiding 21.14 tons of CO₂e from sanitary waste.

      (ii) Installed 310 LED lights across company facilities, reducing energy use by 13,020 kilowatt-hours (kWh) and cutting 9 tons of CO₂e emissions.

(iii) Moved to paperless processes, saving 792 kilograms (kg) of paper and reducing 9 tons of CO₂e emissions.

Main Point :-   (i) A total of 28 airports in the Asia-Pacific region received recognition, including Beijing Daxing International Airport (China), Qingdao International Airport (China), Guangzhou Baiyun International Airport (China), and Seoul Incheon International Airport (South Korea), among others.

      (ii) ASQ awards, established in 2006, are based on real-time passenger feedback collected through live surveys, evaluating over 30 key performance indicators across the airport experience. The awards highlight excellence in service innovation, smart technology, and passenger-centric design.

      - He began his career as a Chartered Accountant (CA) at Allahabad Bank (now Indian Bank) in 1992 and progressed to various leadership roles in several banks, including UCO Bank and Union Bank of India.

Main Point :-   (i) Atul Kumar Goel has served as the Chairman of IBA for two terms (2021-22 and 2022-23) and has extensive experience in the banking sector.

      (ii) He was appointed MD and CEO of PNB in 2022 and successfully led the bank until his appointment as CE of IBA in March 2025.

(iii) He is also a member of the Governing Council & Chairman of the Executive Committee of the Indian Institute of Banking & Finance (IIBF) and a member of the Governing Board of the Institute of Banking Personnel Selection (IBPS).

      - As of September 2024, Starlink serves over 4 million subscribers worldwide.

Main Point :-   (i) The alliance will combine Jio's extensive mobile network with Starlink's LEO satellite technology to offer high-speed internet services across the country.

      (ii) Airtel will distribute Starlink user terminals through its vast retail network, enabling customers to access satellite-based internet services.

      - Maharashtra's Fiscal Deficit (FD) stands at ₹1,36,234 crore, remaining below the 3% limit of the Gross State Domestic Product (GSDP), as per the Fiscal Responsibility and Budgetary Management (Amendment) Act, 2006.

Main Point :-   (i) The state's revenue receipts for FY25 are projected at ₹4,99,463 crore, up from ₹4,86,116 crore in FY24, as per the Budget Estimates (BE) and Revised Estimates (RE), respectively.

      (ii) ₹9,000 crore has been allocated for the Agriculture Sector, including ₹500 crore for a pilot Artificial Intelligence (AI) project covering over 1 lakh hectares and benefiting 50,000 farmers.

(iii) The government has approved the construction of 20 lakh houses in 2026 under Phase-2 of the Pradhan Mantri Awas Yojana - Rural (PMAY-R).

Main Point :-   (i) Mohsin Naqvi, a Pakistani politician, is set to lead the ACC in the next term.

      (ii) The Board of Control for Cricket in India (BCCI) was established in 1928 and is the principal governing body for cricket in India.

Main Point :-   (i) The total OFS component of the IPO is capped at 20%, ensuring that the primary purpose of the IPO remains to raise funds for the company.

      (ii) The promoters' shareholding over the Minimum Promoter Contribution (MPC) will be subject to a phased lock-in-period. Fifty percent of the excess holding will be released after one year, with the remaining 50% being released after two years.

(iii) These changes are designed to ensure that only SMEs with a strong financial track record are allowed to raise public funds, thus safeguarding investor interests.

Main Point :-   (i) The report highlights that the top 100 insurance brands have witnessed a 9% increase in brand value in 2025, driven by factors such as better underwriting performance, higher investment income, rising interest rates (IR), and improved profitability.

      (ii) Brand Finance releases the Insurance 100 report annually, ranking the world's most valuable and strongest insurance brands based on their market performance and brand strength.

(iii) Ping An Insurance has maintained its position as the most valuable insurance brand for the ninth consecutive year, with a brand value of USD 33.6 billion. Allianz saw a 9% increase in its brand value, reaching USD 26.7 billion, while Nissay/Nippon Life Insurance experienced the fastest growth, with its brand value rising by 94% to USD 9.2 billion.

Main Point :-   (i) The key benefits of the Rakshak Salary Package include enhanced free comprehensive Personal Accident Insurance (PAI) coverage up to Rs. 100 lakh and air accident coverage up to Rs. 200 lakh.

      (ii) It offers attractive deals and concessions on BOI debit and credit cards, along with a range of other benefits tailored for defence personnel, paramilitary, and state police forces.

(iii) The Agnipath Scheme, launched by the Government of India (GoI) in June 2022, is a recruitment initiative for soldiers below the rank of commissioned officers across the IA, Indian Navy (IN), and Indian Air Force (IAF).

Main Point :-   (i) The company will also invest in upgrading its AI-powered debt resolution platform to optimize collections while maintaining compliance with financial regulations.

      (ii) CredResolve, founded in August 2023, currently serves over 20 lenders and has an annual recurring revenue (ARR) of USD 1 million. In February 2024, CredResolve raised USD 100K in an angel funding round.

(iii) Its automated workflows improve efficiency, enhance borrower communication, and align with Reserve Bank of India (RBI) regulations.

Main Point :-   (i) These penalties were imposed due to non-compliance with certain provisions of the 'NBFC - P2P Lending Platform (Reserve Bank) Directions, 2017'.

      (ii) A penalty of Rs 40 lakh was imposed on Gurugram (Haryana)-based Fairassets Technologies India Private Limited, and penalties of Rs 10 lakh each were imposed on Mumbai-based Bridge Fintech Solutions Private Limited and Bengaluru (Karnataka)-based Rang De P2P Financial Services Private Limited.

(iii) The RBI also imposed a penalty of Rs 16.6 lakh on Mumbai-based Visionary Financepeer Private Limited.

Main Point :-   (i) This collaboration will empower startups, innovators, and entrepreneurs by providing them with the resources to develop cutting-edge technologies that will benefit society.

      (ii) Structured programs will be launched to offer startups crucial infrastructure, mentorship, funding, and market access. Additionally, the partnership seeks to promote international collaborations and facilitate the exchange of knowledge.

Main Point :-   (i) Vikas Kaushal has been the MD and Country Head for Kearney India, based in Mumbai, Maharashtra, for five years.

      (ii) He has also served as an advisor and consultant to the leadership of several domestic firms, including HPCL, Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), Gas Authority of India Limited (GAIL), and many others.

(iii) Prior to this, he was twice elected to Kearney's Global Board of Directors, serving two full terms. He also chaired the finance, audit, and governance committees.

Main Point :-   (i) Sumant Kathpalia has 37 years of experience in the banking sector and has been with IndusInd Bank for 17 years.

      (ii) He also has working experience with international banks such as Algemene Bank Nederland (ABN AMRO) Bank, Bank of America, and Citibank.

      - The 'SBI Life - Smart Future Star' is an individual, non-linked, participating life insurance savings product that offers long-term corpus growth through bonuses and includes an in-built Waiver of Premium benefit in case of the proposer's death or Accidental Total Permanent Disability (ATPD). It also provides flexibility with multiple maturity payout options to cater to changing financial needs.

Main Point :-   (i) The 'SBI Life - Smart Platina Young Achiever' is an individual, non-linked, non-participating life insurance savings product that ensures guaranteed maturity benefits to support children's education, career, or marriage aspirations. It also includes an in-built Waiver of Premium benefit under specified conditions, providing financial security for the child's future.

      (ii) This plan follows a risk-free savings approach, making it an ideal choice for parents seeking guaranteed returns and financial stability to help their children achieve their life goals.

      - The MoU was signed by Satyen Modi, Executive Vice President and Business Head, Alternate Banking Channels & Partnerships, HDFC Bank, Air Vice Marshal Updesh Sharma VSM - Assistant Chief of the Air Staff (Accounts & Air Veterans), and Pravin Chandekar, Chief Executive Officer (CEO) of CSC Academy.

Main Point :-   (i) The bank will establish 25 centers across IAF units in cities like Bengaluru (Karnataka), Gurgaon (Haryana), Pune (Maharashtra), Secunderabad (Telangana), Guwahati (Assam), Jodhpur (Rajasthan), and Chandigarh (Punjab).

      (ii) The project will provide access to over 500 Government-to-Citizen (G2C) and Business-to-Customer (B2C) services, including Aadhaar services, National Pension System (NPS), Permanent Account Number (PAN) card, passport services, and bill collection.

(iii) In collaboration with CSC Academy, HDFC Bank will offer skill development programs under its Parivartan programme, focused on financial products and services, empowering veterans and their families to achieve financial independence.

Main Point :-   (i) Vidya Balan is a renowned actress known for her impactful performances in Indian cinema. She has received numerous accolades, including the National Film Award for Best Actress, for her roles in films such as Paa (2009), The Dirty Picture (2011), and Kahaani (2012).

      (ii) She was honored with India's fourth-highest civilian award in the field of Arts for her contributions to Indian cinema.

Main Point :-   (i) The initiative seeks to enhance formalization, mentorship, capacity-building, and electronic (e)-commerce integration for women in business.

      (ii) NITI Aayog's Women Entrepreneurship Platform (WEP), a public-private partnership (PPP), aims to provide access to finance, markets, compliance support, skilling, and networking for women entrepreneurs.

(iii) India SME Forum formalized a partnership with IndiGo Airlines through a Memorandum of Understanding (MoU), offering MSMEs improved travel solutions for enhanced business growth.

Main Point :-   (i) The agreement will boost India's defence manufacturing capabilities and aligns with the government's vision of self-reliance in defence.

      (ii) SIIL is the flagship company of the Solar Group, which produces bulk explosives, packaged explosives, and initiating systems for use in the mining, infrastructure, and building sectors.

Main Point :-   (i) With over 30 years of experience, Joshi has worked extensively in areas like statistics, information technology, and cyber risk management.

      (ii) He has also been a faculty member at the Institute for Development and Research in Banking Technology (IDRBT) in Hyderabad.

(iii) Joshi holds a certification as an associate from the Indian Institute of Banking and Finance (CAIIB).

      - Shell Deutschland GmbH, a subsidiary of Shell Plc, a global energy company based in the Netherlands, acquired 100% ownership of Raj Petro Specialities Private Limited, located in Mumbai (Maharashtra), through Shell Overseas Investments B.V..

Main Point :-   (i) Roquette Frères S.A, a France-based company, acquired the Pharma Solutions and specific product lines from the Nourish segment of International Flavors & Fragrances Inc. (IFF), a USA-based company.

      (ii) Alpha Wave Ventures II, LP, based in Florida (USA), acquired a 12.44% stake in Advanta Enterprises Limited, a company headquartered in Mumbai (Maharashtra).

(iii) JSW Energy Limited (JSWEL), a Mumbai (Maharashtra)-based company, acquired 100% shareholding in KSK Mahanadi Power Company Limited, based in Hyderabad (Telangana), for nearly Rs. 16,000 crore.

Main Point :-   (i) After the acquisition, JPBL will become a wholly owned subsidiary of JFSL. JPBL was originally established as a Joint Venture (JV) between JFSL and SBI.

      (ii) Under the deal, JFSL will acquire around 79 million equity shares of Jio Payments Bank at a price of Rs 13.22 each from SBI.

Main Point :-   (i) The total size of India's social sector funding, which includes areas like education, healthcare, and gender equality, is approximately Rs 25 lakh crore (USD 300 billion), making up 8.3% of the country’s Gross Domestic Product (GDP).

      (ii) Public spending contributed 95% of the total funding, amounting to Rs 23 lakh crore. Private spending increased by 7% from FY 2023 to FY 2024, reaching around Rs 1.3 lakh crore (USD 16 billion).

Main Point :-   (i) The JV will mainly focus on the Indian Army's (IA) Light Tank program, specifically the Zorawar tank. Zorawar is a light tank developed jointly by the Defence Research and Development Organisation (DRDO) and Larsen & Toubro (L&T), and is currently undergoing advanced trials.

      (ii) The JV will operate on a 60:40 ratio, with JCD holding the majority share. This ensures that advanced turret technology is transferred to India, supporting the country’s Aatmanirbhar Bharat (Self-Reliant India) defense initiative.

(iii) Additionally, Thales Belgium, based in Brussels (Belgium), has teamed up with India’s state-owned Armoured Vehicle Nigam Ltd (AVNL) in Avadi (Chennai). Together, they will integrate a 70mm rocket system onto military vehicles for the Indian armed forces. In 2025, a key milestone will be a joint demonstration, including live firing exercises, as per Belgian embassy officials.

Main Point :-   (i) The aim of this partnership is to support Micro, Small, and Medium Enterprises (MSMEs) by improving their access to loans, trade services, and global market information. This is a key step in strengthening India’s export environment.

      (ii) At the event, VES Bank launched two important products under its YES Business suite: YES Exports and YES PowherUp. These products are designed to help MSMEs and women entrepreneurs grow their businesses internationally.

Main Point :-   (i) In December 2022, the Reserve Bank of India (RBI), based in Mumbai (Maharashtra), started a pilot program for the e-rupee, which is a digital alternative to physical currency. The program expanded in April 2024 to include payment firms, allowing companies like Mintoak to actively participate.

      (ii) Mintoak aims to make digital payment processes simpler for merchant acquirers and support the growth of Small and Medium Enterprises (SMEs) by helping them access digital financial services.

(iii) In January 2025, CRED (based in Bengaluru, Karnataka) and MobiKwik (based in Gurugram, Haryana) became the first non-banking companies to offer India's CBDC, the e-Rupee (eRs).

      - Private Final Consumption Expenditure (PFCE) is projected to grow at 7.6% in FY25, driven by strong agricultural production, reduced food inflation, tax benefits from the Union Budget 2025-26, and increased funding for key schemes, which are expected to support economic growth.

Main Point :-   (i) Investment growth will rely on continued private corporate investment, while the government's capital expenditure (capex) plans are expected to return to normal levels to meet fiscal deficit targets, potentially limiting overall fiscal stimulus.

      (ii) Potential tariff hikes by the United States (USA) and global trade uncertainties could negatively impact India's domestic growth.

(iii) Trade redirection might lead to higher imports from China, which could affect India's net exports in FY26.

Main Point :-   (i) ARCIL started the deal with its anchor bid, which led to a 'Swiss Challenge' auction for the loan portfolio.

      (ii) Ujjivan SFB invited counterbids, offering a 5% higher bid than the anchor bid. However, no higher bids came in, and ARCIL's offer was accepted.

(iii) This sale is part of Ujjivan SFB's ongoing efforts to clean up its balance sheet and improve asset quality by reducing Non-Performing Assets (NPAs).

Main Point :-   (i) The first MoU was signed between GJEPC's Jaipur-based Indian Institute of Gems and Jewellery Research and Laboratories Centre (IIGJ-RLC) and Gem and Jewellery Institute of Thailand (GIT Thailand). This partnership focuses on gemstone standardization, joint research, and increased knowledge exchange to improve industry transparency and quality.

      (ii) The second MoU was signed between JAJ and Chanthaburi-based Chanthaburi Gem and Jewellery Traders Association (CGTA). This collaboration aims at strengthening the coloured gemstone trade, creating new trade opportunities, and enhancing global market participation.

(iii) The third MoU was signed between SGJIA and Bangkok-based Thai Silver Exporter Association (TSEA). This agreement intends to promote innovation, improve design excellence, and broaden the market reach of silver jewellery.

Main Point :-   (i) The first MoU was signed between GJEPC's Jaipur-based Indian Institute of Gems and Jewellery Research and Laboratories Centre (IIGJ-RLC) and Gem and Jewellery Institute of Thailand (GIT Thailand). This partnership focuses on gemstone standardization, joint research, and increased knowledge exchange to improve industry transparency and quality.

      (ii) The second MoU was signed between JAJ and Chanthaburi-based Chanthaburi Gem and Jewellery Traders Association (CGTA). This collaboration aims at strengthening the coloured gemstone trade, creating new trade opportunities, and enhancing global market participation.

(iii) The third MoU was signed between SGJIA and Bangkok-based Thai Silver Exporter Association (TSEA). This agreement intends to promote innovation, improve design excellence, and broaden the market reach of silver jewellery.

Main Point :-   (i) The RBI also imposed a monetary penalty of Rs 1 lakh each on two other co-operative banks: Business Co-operative Bank Limited (Nashik, Maharashtra) and Lasalgaon Merchant Co-operative Bank Limited (Nashik).

      (ii) These two banks were found violating certain provisions and failing to adhere to directions issued by the RBI regarding "Income Recognition, Asset Classification, Provisioning, and Other Related Matters for Urban Co-operative Banks (UCBs)."

      - The platform enables investors to compare corporate bond prices with Government Securities (G-Secs) and other fixed-income indices.

Main Point :-   (i) Bond Central offers investor-centric information, including risk assessments, bond documents, and disclosures to support effective decision-making.

      (ii) It promotes enhanced transparency by standardizing corporate bond data, reducing information asymmetry, and building investor trust.

(iii) Following a 327% increase in monthly transactions of corporate bonds and Structured Debt Instruments (SDIs) over the past year, Bond Central aims to support SEBI’s vision of increasing retail participation in India’s corporate bond market.

Main Point :-   (i) The RBI also imposed a monetary penalty of Rs 1 lakh each on two other co-operative banks: Business Co-operative Bank Limited (Nashik, Maharashtra) and Lasalgaon Merchant Co-operative Bank Limited (Nashik).

      (ii) These two banks were found violating certain provisions and failing to adhere to directions issued by the RBI regarding "Income Recognition, Asset Classification, Provisioning, and Other Related Matters for Urban Co-operative Banks (UCBs)."

      - The platform enables investors to compare corporate bond prices with Government Securities (G-Secs) and other fixed-income indices.

Main Point :-   (i) Bond Central offers investor-centric information, including risk assessments, bond documents, and disclosures to support effective decision-making.

      (ii) It promotes enhanced transparency by standardizing corporate bond data, reducing information asymmetry, and building investor trust.

(iii) Following a 327% increase in monthly transactions of corporate bonds and Structured Debt Instruments (SDIs) over the past year, Bond Central aims to support SEBI’s vision of increasing retail participation in India’s corporate bond market.

Main Point :-   (i) The ACADA system detects chemical warfare agents (CWA) and programmable toxic industrial chemicals (TICs) by monitoring the air in the area.

      (ii) It is based on the Ion Mobility Spectrometry (IMS) principle and includes two highly sensitive IMS cells for continuous detection and monitoring of harmful/toxic chemicals.

(iii) The use of ACADA in field units will significantly enhance the IA's defensive Chemical, Biological, Radiological, and Nuclear (CBRN) capabilities for both operations and peacetime, particularly in responding to industrial accident-related disaster relief situations.

Main Point :-   (i) The partnership aims to strengthen the MSME ecosystem by offering funding for machinery and equipment financing, working capital, Cash Credit (CC), Overdraft (OD), business loans, loans against property, and more.

      (ii) Furthermore, risk sharing, co-lending, and joint financing options will be explored to extend credit facilities to MSMEs.

Main Point :-   (i) Anil Ramanath Joshi's literary journey began in 1970 with the publication of his first Gujarati poetry collection, Kadach. He further enriched Gujarati poetry with Baraf Na Pankhi, a collection of poems, in 1982. In 1988, he also published Pavan Ni Vyaspithe, a collection of essays.

      (ii) Anil Ramanath Joshi also authored a collection of children's stories and fables titled Chakli Bole Chi Chi Chi, and his collection of essays, Pavan Ni Vyaspithe, was chosen for the Gujarat Sahitya Akademi Award in 1990.

(iii) However, on October 11, 2025, he returned the 1990 Sahitya Akademi Award as a protest against the increasing attacks on literary writers.

Main Point :-   (i) The account offers Cyber Fraud Protection covering up to Rs. 25,000 for account holders. It also provides Family Benefits, allowing up to five family members to open zero-balance salary accounts.

      (ii) Additionally, it includes Insurance Coverage, featuring a health insurance plan with OPD benefits, Rs. 15 lakh accident insurance, and top-up plans of up to Rs. 30 lakh.

(iii) The account extends Loan Benefits, offering additional home loans beyond company-set limits for Maharatna PSU employees. It also provides an Exclusive Debit Card, which comes with a free Platinum Debit Card and offers eight complimentary domestic airport lounge visits per year.

Main Point :-   (i) In 2025, the 'Evolve' initiative is being hosted in 10 key cities across India, including New Delhi (Delhi), Mumbai (Maharashtra), Lucknow (Uttar Pradesh, UP), Kolkata (West Bengal, WB), Chennai (Tamil Nadu, TN), Hyderabad (Telangana), Bengaluru (Karnataka), Kochi (Kerala), Indore (Madhya Pradesh, MP), and Ahmedabad (Gujarat).

      (ii) Launched in 2014, 'Evolve' is a transformative platform designed to empower India's MSMEs, having positively impacted over 9,000 entrepreneurs across more than 50 cities.

(iii) Through 'Evolve,' Axis Bank aims to provide MSMEs with strategies to optimize operations, boost competitiveness, and expand market presence.

Main Point :-   (i) The conversion process will involve a thorough cleaning of the ship to remove any potential pollutants or hazardous materials, ensuring environmental approvals as per guidelines.

      (ii) The INS Guldar was built at Gdynia Shipyard, Poland, and was commissioned into the Indian Navy in 1985.

(iii) The design was developed in collaboration with the Armament Research & Development Establishment (ARDE) in Pune, Maharashtra, and the Indian Army.

      - The RBI launched this initiative in 2016, and it has been observed annually across the country to promote financial awareness among the people.

Main Point :-   (i) As part of FLW 2025, banks have been directed to spread financial literacy awareness by displaying RBI-developed posters on their web portals, Automated Teller Machines (ATMs), mobile applications (apps), and display boards at their branches.

      (ii) The campaign will cover topics such as risk diversification, responsible borrowing, maintaining a good credit score, and household budgeting, with a special focus on homemakers, working women, and women entrepreneurs.

(iii) This year's FLW includes multimedia campaigns by RBI to raise awareness about the importance of financial literacy for women.

Main Point :-   (i) The dialogue, organized by the Ministry of External Affairs (MEA) in collaboration with Pune International Centre (PIC), focused on addressing the complexities of economic fragmentation and identifying actionable pathways for resilience and resurgence.

      (ii) The key focus areas of the 9th edition of the Asia Economic Dialogue (AED) included Artificial Intelligence (AI), Cyber Security, African Transformation, Blue Economy, International Monetary System (IMS), Micro, Small, and Medium Enterprises (MSMEs), and Climate Change. These sectors were explored in depth to address the complexities of economic fragmentation and to identify actionable pathways for resilience and resurgence in the global economy.

(iii) The dialogue brought together a diverse group of academicians, policymakers, and industry experts from various countries, including Australia, Egypt, Indonesia, Japan, Nepal, the Netherlands, Singapore, South Africa, and Sri Lanka.

Main Point :-   (i) AMFL was penalized Rs 6.20 lakh for failing to report household income details of certain borrowers to CICs.

      (ii) Additionally, it did not provide factsheets to certain gold loan customers and lacked an auto-escalation mechanism for complaints that were partially or fully denied by its internal grievance resolution system, preventing their escalation to the internal ombudsman for final resolution.

(iii) JMFHL received a penalty of Rs 1.50 lakh for violating multiple provisions of the "Non-Banking Financial Company Housing Finance Company (Reserve Bank) Directions, 2021."

      - This reduces the chances of fraud and unauthorized access, ensuring that investors receive accurate and legitimate information.

Main Point :-   (i) By consolidating all financial data, the platform simplifies the management and transfer of assets, streamlining processes like inheritance and asset transmission.

      (ii) Investors can easily view their holdings and recent transactions using a single login, enabling quicker decision-making based on up-to-date financial information.

(iii) The app incorporates robust security features, including two-factor authentication, ensuring a secure and safe user experience. Both the CDSL MyEasi and NSDL SPEED-e apps offer access to the unified platform's features.

Main Point :-   (i) As part of this collaboration, HAL executives will have the opportunity to enroll in Master's and Doctor of Philosophy (Ph.D.) programs at DIAT, take part in specialized modules on emerging technologies, and participate in faculty and student exchange programs.

      (ii) This partnership will also enable joint conferences, seminars, and collaborative research projects, fostering advancements in India's defense and aviation capabilities.

      - These water bodies will undergo restoration, including desilting, cleaning, ecological rejuvenation, and landscaping with minimal disruption to the historic sites. Informative signage will be installed to enhance visitor experience and community engagement. Through this collaboration, Bisleri aims to ensure the long-term preservation and improvement of India's heritage sites.

Main Point :-   (i) The 'Adopt A Heritage (AAH)' programme, launched in 2017, is a collaborative initiative of the Ministry of Tourism (MoT), Ministry of Culture (MoC), and the Archaeological Survey of India (ASI). In September 2023, a revamped version of the programme was introduced as 'AAH 2.0'.

      (ii) The initiative seeks to establish a framework for collaboration with public and private sector organizations, trusts, societies, Non-Governmental Organizations (NGOs), and others, to create or enhance facilities at Protected Monuments using their CSR funds, with the aim of improving the visitor experience and making the adopted monuments more visitor-friendly.

(iii) The facilities under this program are categorized into four main areas: Hygiene, Accessibility, Wireless Fidelity (Wi-Fi) facility, and Knowledge. As of February 2025, 21 Memorandums of Understanding (MoUs) have been signed between ASI and partnering entities across Delhi, Bihar, Uttar Pradesh (UP), Madhya Pradesh (MP), Tamil Nadu (TN), Odisha, Maharashtra, Goa, and Karnataka.

Main Point :-   (i) The award acknowledges efforts in reducing workplace injuries, implementing best OSH practices, and promoting continuous improvements.

      (ii) The airport achieved zero fatal, non-fatal, and permanent disability incidents, contributing to its success in securing the award.

(iii) The airport is named after Manohar Gopalkrishna Prabhu Parrikar, the former Union Minister of Defence (MoD) and Chief Minister (CM) of Goa.

Main Point :-   (i) The committee, led by Dinesh Kumar Khara, is tasked with reviewing the proposed amendments and suggesting a framework for their implementation. The report is expected to be submitted within 3 months.

      (ii) Based on the committee’s recommendations, the IRDAI will forward proposals to the Ministry of Finance (MoF), and the Department of Financial Services (DFS), MoF will draft a new bill for stakeholder feedback.

Main Point :-   (i) The 2024 Burgundy Private Hurun India 500 is the fourth edition, featuring the 500 most valuable private companies in India. The average age of the companies on the list is 43 years.

      (ii) The threshold for qualifying in the 2024 Burgundy Private Hurun India 500 is Rs 9,580 crore as of 13 December 2024, reflecting a 43% increase from the Rs 6,700 crore threshold in 2023.

      - SHPL is involved in investing in equity shares, preference shares, and other securities. It is an unregistered Core Investment Company as per the Core Investment Companies (Reserve Bank) Directions, 2016.

Main Point :-   (i) CIFCPL and SMPL provide microfinance and personal loans to low-income individuals and households in rural and semi-urban areas, while SMHFCL offers secured housing loans, loans against property, and loans to corporations/institutions for construction and real estate projects.

      (ii) NS Blackwater and JFE Steel BW are newly formed special-purpose vehicles created for the proposed combination, while BW Coal Mine imports and supplies coking coal.

(iii) The acquisition aligns with India's growing demand for high-quality coking coal, a key raw material in steel production.

Main Point :-   (i) FMO fully subscribed to the INR-denominated NCD issuance, showing its commitment to supporting sustainable growth and helping entrepreneurs succeed.

      (ii) A successful transaction in December 2023, which mainly supported green finance with an unlisted NCD issue of USD 30 million (Rs 2,490 million), has strengthened UGRO Capital's reputation as a trusted partner for impact financing.

(iii) UGRO Capital has raised Rs 1.5 billion from both global and domestic development financial institutions and impact funds, including IFU (Denmark Government Sovereign Fund), Asian Development Bank (ADB), ResponsAbility, Calvert Impact Capital, Enabling Qapital, GMO, Water Equity, Microvest, and Indian Renewable Energy Development Agency Limited (IREDA).

      - As part of the agreement, Eurobank S.A. has chosen LTIMindtree as the service partner for the Temenos implementation program at Eurobank Luxembourg.

Main Point :-   (i) LTIMindtree will handle services such as maintenance, data migration, quality assurance, and post-production support.

      (ii) In addition, LTIMindtree will work on advancing the technology for Eurobank Group's operations in Cyprus, Luxembourg, and Greece.

(iii) As part of this partnership, LTIMindtree and Eurobank launched a new Global Delivery Center in Pune (Maharashtra), reaffirming their commitment to developing new banking technologies.

Main Point :-   (i) During the event, Union Minister Nirmala Sitharaman also virtually inaugurated the first 'Sachal Aaykar Seva Kendra' in Navy Nagar, Colaba, Mumbai. This center will offer digital services, guidance for grievance redressal, and promote tax awareness.

      (ii) She also introduced a new scheme called the 'Prime Minister Dhan-Dhaanya Krishi Yojana (PMDKY)', which aims to improve agricultural productivity in 100 districts with low agricultural output.

Main Point :-   (i) The Volvo FM "Forward Control Medium Height Cab" 420 4×2 Road Train features a 24-feet intermediate trailer and a 44-feet semi-trailer, providing a total cargo volume of 144 cubic meters (m), which is 50% higher than standard semi-trailers.

      (ii) The Road Train is certified by MoRTH and Pune, Maharashtra-based Automotive Research Association of India (ARAI) for operations between Nagpur and Bhiwandi, Maharashtra.

(iii) The Road Train is equipped with advanced safety features, including the Electronic Braking System (EBS), Electronic Stability Program (ESP), and a 360-degree camera system, ensuring a safe and stable journey.

Main Point :-   (i) Under the new rules, SEBI has made it mandatory for listed companies to provide the audit committee with the required information, as specified in the new standards, when submitting any proposal for the review and approval of an RPT.

      (ii) SEBI also announced that it has relaxed the timeline for Alternative Investment Funds (AIFs) to hold investments in dematerialized (demat) form.

(iii) All provisions of SEBI's circular have come into effect immediately.

      - The peripheries will feature the words "Bharath" in Devanagari script on the left and 'INDIA' in English on the right.

Main Point :-   (i) Mohammed Rafi (24 December 1924 – 31 July 1980), often referred to as Rafi Sahab, was born in Punjab. He was awarded the Padma Shri in 1967 for his contribution to Art.

      (ii) Previous commemorative coins were issued in honor of legendary singers like Begum Akhtar (renowned Ghazal artist) in 2014 and Dr. M.S. Subbulakshmi (iconic Carnatic singer) in 2017.

Main Point :-   (i) P.D. Singh holds two Master’s in Business Administration (MBA) degrees and an engineering qualification. He is well-known for his contributions to the banking sector.

      (ii) P.D. Singh has over ten years of experience at Hongkong and Shanghai Banking Corporation Limited (HSBC) based in London, United Kingdom (UK).

(iii) Before joining Standard Chartered, Singh was the CEO of JPMorgan Chase and Co in Bengaluru, Karnataka.

      - The barge has been indigenously designed and built in collaboration with an Indian ship design firm and the Indian Register of Shipping (IRS).

Main Point :-   (i) Model testing was conducted at the Naval Science and Technological Laboratory (NSTL), Visakhapatnam (AP), to ensure seaworthiness.

      (ii) The MCA Barges play a crucial role in the IN's operational capabilities, assisting in the transportation, embarkation, and disembarkation of ammunition and materials to naval platforms, both at jetties and outer harbors.

(iii) These MCA Barges align with the Government of India’s (GoI) ‘Make in India’ and ‘Aatmanirbhar Bharat’ initiatives, reinforcing India's self-reliance in defense manufacturing.

      - RBI has allowed New India Co-operative Bank to incur essential expenses like employee salaries, rent, and electricity bills, while ensuring eligible depositors receive up to Rs 5 lakh insurance from DICGC as per the provisions of the DICGC Act, 1961.

Main Point :-   (i) The RBI superseded the Board of Directors (BoDs) of New India Co-operative Bank for 12 months to address governance issues under Section 36 AAA and Section 56 of the Banking Regulation Act, 1949.

      (ii) Shreekant, a former Chief General Manager of State Bank of India (SBI), has been appointed as the administrator to manage the bank’s affairs.

(iii) A committee of advisors, including Ravindra Sapra (former GM of SBI) and Abhijeet Deshmukh (Chartered Accountant), has been formed to assist in stabilizing operations, examining the financial situation, and working towards the bank’s revival.

Main Point :-   (i) The company also operates 22,395 Vakrangee Kendra outlets, with 81% of them situated in Tier-4 to Tier-6 locations.

      (ii) Vakrangee has set a target of achieving a revenue of USD 1 billion and a gross transaction value of USD 150 billion by 2030.

(iii) As of December 2024, the Life Insurance Corporation of India (LIC) held a 4.41% stake in Vakrangee Limited.

Main Point :-   (i) To address these issues, KMB implemented corrective measures, submitted compliance reports, and conducted an external audit with RBI's approval. After evaluating the bank's improvements and compliance efforts, the RBI decided to remove the restrictions.

      (ii) Consequently, the "cease and desist" directive has been lifted for all banks and non-banking financial companies (NBFCs), except for Paytm Payments Bank.

Main Point :-   (i) Additionally, the bank signed another agreement for a LoC of USD 120 million for the procurement of high-speed guard boats.

      (ii) Both agreements are effective from January 20, 2025, with the last date for disbursement being 60 months after the scheduled completion of the project.

      - In 2025, two special awards were introduced: the "Special Recognition Gamechanger 2025" and the "Inspirational Icon Award 2025", recognizing individuals who have made significant contributions to sports and inspired future generations.

Main Point :-   (i) Pusarla Venkata Sindhu was honored with the "Inspirational Icon Award 2025" for her exceptional achievements and unwavering dedication to the sport of badminton.

      (ii) Jay Shah, Chairman of the International Cricket Council (ICC), received the "Special Recognition Game Changer Award 2025" for his transformative contributions to Indian cricket and the sport globally.

(iii) Reliance Industries Limited (RIL), led by Mukesh Ambani, was recognized for its significant contributions to sports development, while the "Chairperson's Award for Sports for Social Good 2025" was awarded to Downtown Heroes FC, a football club based in Srinagar, Jammu & Kashmir (J&K).

      - A chargeback is a process that reverses a completed UPI transaction due to disputes, fraud, or technical errors. It is initiated by the payer's bank, and upon approval, the transaction amount is refunded to the payer.

Main Point :-   (i) Currently, remitting banks can initiate chargebacks from 'T+0' onwards in the UPI Dispute Resolution System (URCS), which doesn’t provide sufficient time for beneficiary banks to reconcile transactions, leading to rejected Return Requests (RET).

      (ii) In some instances, chargebacks are closed automatically with deemed acceptance, resulting in penalties imposed by the Reserve Bank of India (RBI).

(iii) The new UPI rule applies solely to bulk upload options and the Unified Dispute Resolution Interface (UDIR), excluding front-end dispute resolution options, and allows beneficiary banks to reconcile transactions more effectively before chargebacks are automatically deemed approved.

Main Point :-   (i) Apart from being a remarkable performer, Pandit Prabhakar Karekar was also a dedicated teacher. He was a graded artist with All India Radio (AIR) and Doordarshan (DD), which helped him reach a wide audience across the country.

      (ii) Prabhakar Karekar was the founder and Chairman of the Swarprabha Trust.

(iii) Over the course of his career, he received many prestigious awards, including the Tansen Samman, Sangeet Natak Akademi Award, and Gomant Vibhushan Award, all recognizing his significant contributions to classical music.

Main Point :-   (i) Earlier, Easebuzz expanded into B2B (business-to-business) payments and launched an invoice management and payments platform in collaboration with the National Payments Corporation of India (NPCI) Bharat BillPay (NBBL).

      (ii) Easebuzz has also been certified as a Biller Operating Unit (BOU) under Bharat Connect (formerly known as Bharat Bill Payment System, BBPS).

(iii) A PA license allows companies to handle e-commerce transactions, offer early settlements to select merchants, and provide credit in the form of term loans in partnership with Non-Banking Financial Companies (NBFCs) and banks.

Main Point :-   (i) The collaboration focuses on enhancing national security by delivering advanced tactical radios and equipment to Indian forces.

      (ii) L3Harris, with over 1 million fielded radios globally, brings extensive experience in military communications.

(iii) The agreement supports the US-India Defence Industrial Cooperation framework, promoting next-generation defence technologies.

Main Point :-   (i) Axis Bank's Existing-to-Bank (ETB) customers with valid Know Your Customer (KYC) can open FD accounts even if their primary funds are held in another bank, eliminating the need to first transfer funds to an Axis Bank savings account.

      (ii) The Fixed Deposit (FD) will be processed once the payment is successfully completed and the funds are received from the payment gateway service provider.

(iii) The Account Aggregator (AA) ecosystem is a digital framework that enables individuals to securely access and share their financial information between institutions within the AA network.

Main Point :-   (i) AMSL has also entered into an MoU with Kanpur (Maharashtra)-based Troop Comforts Limited (TCL) under MoD to jointly develop, manufacture, and market next-generation air defence systems, including anti-drone and anti-aircraft solutions.

      (ii) These partnerships aim to address the current and future needs of the Indian Defence Forces, paramilitary forces, police organizations, central and state government agencies, the civil sector, and international export markets.

(iii) AMSL, established in 1985, manufactures advanced electronic and electro-mechanical solutions for industries such as infrastructure, transportation, aerospace, and defence.

Main Point :-   (i) MAITRI is the dedicated agency of the Maharashtra Government for promoting economic growth, fostering innovation, and simplifying the investment process in the state.

      (ii) It plays a crucial role in positioning Maharashtra as a leading investment destination.

Main Point :-   (i) Both funds aim to track 750 stocks from the Nifty 500 and Nifty Microcap 250 indices across 22 sectors, covering large (60%), mid (19%), small (10%), and microcap (4%) segments, accounting for 93% of India's total market capitalization.

      (ii) The NFO is priced at Rs 10 per unit with no exit load. The minimum investment amount is Rs 1,000, with subsequent investments allowed in multiples of Re 1.

Main Point :-   (i) Before this acquisition, SBI MF held a 4.9878% stake in Axis Bank, equivalent to 15,44,18,049 shares.

      (ii) After the acquisition, SBI Mutual Fund (SBI MF) increased its stake in Axis Bank to 5.0238%, equivalent to 15,55,32,209 shares.

      - IDFC FIRST Bank recently introduced the Senior Citizen Savings Account, eliminating over 30 charges associated with regular savings accounts. This account is tailored to meet the financial needs of senior citizens, ensuring greater convenience and cost savings.

Main Point :-   (i) The bank has also launched Senior Citizen Fixed Deposits (FDs), offering an additional 0.5% interest rate compared to regular deposits. This initiative aims to provide higher returns and financial security to senior customers.

      (ii) A new feature, Senior Citizen Specials, has been integrated into the bank’s mobile banking application. It includes customized investment solutions, cyber insurance coverage of ₹2 lakh, and a complimentary 1-year MediBuddy membership, which offers unlimited doctor video consultations for up to four family members, up to 15% discounts at network pharmacies, a full-body health checkup covering 50+ parameters, and a ₹500 wallet balance for healthcare expenses. Additionally, seniors can access a simplified mutual fund investment option backed by research to modify investments based on their risk-reward appetite.

(iii) To provide greater financial flexibility, IDFC FIRST Bank has also waived penalties on premature FD closures, allowing senior citizens to withdraw their funds anytime without incurring any charges.

Main Point :-   K. Balasubramanian will succeed Ashu Khullar as the CEO of Citibank India, subject to approval from the Reserve Bank of India (RBI). He will report to Amol Gupte, Head of Asia South and Banking Head.

Main Point :-   (i) The plan provides coverage for Infertility Treatment, Assisted Reproductive Technology, Maternity Expenses, Adoption Expenses, Pre-natal Health (In-Utero Treatment), and Congenital Disability Cover, among others. It also extends coverage to surrogate mothers, oocyte donors, and live-in partners, while also covering legal expenses for sexual assault, kidnapping, and acid attacks.

      (ii) HERizon Care includes two key components, Vita Shield and Cradle Care, along with a range of optional covers to address specific healthcare requirements.

(iii) Women aged 18 to 80 years and children from 90 days to 35 years are eligible to avail the benefits of this new health insurance product.

      - SBI’s total advances surpassed ₹40 lakh crore, marking a 13.49% YoY growth, while total deposits recorded a 9.81% YoY increase.

Main Point :-   (i) SBI’s Gross Non-Performing Assets (NPA) ratio declined to 2.07%, while the Net NPA ratio improved to 0.53%, indicating stronger asset quality.

      (ii) The bank’s Capital Adequacy Ratio (CAR) stood at 13.03%, reinforcing a stable financial position.

(iii) SBI strengthened its digital footprint, with 64% of new Savings Accounts (SA) opened via YONO (You Only Need One).

Main Point :-   (i) The company will seek final approval from the Insurance Regulatory and Development Authority of India (IRDAI) before proceeding with the investment.

      (ii) Additionally, the company will comply with the directives under the Foreign Exchange Management (Overseas Investment) Directions, 2022.

(iii) GIC Re is a 100% Government of India (GoI)-owned Public Sector Undertaking (PSU). It currently operates branch offices in London (UK) and Kuala Lumpur (Malaysia).

Main Point :-   (i) Additionally, 'Kitchener House' within the fort has been renamed as Manekshaw House, while the South Gate, previously called St. George's Gate, is now known as Shivaji Gate.

      (ii) These renaming efforts, initiated in December 2024, are part of broader steps to "Indianize" military traditions, an initiative endorsed by Prime Minister (PM) Narendra Modi.

(iii) The move aligns with India's larger mission to shed its colonial legacy, following the Indian Navy’s (IN) adoption of a new ensign in September 2022.

Main Point :-   (i) The plan ensures maximum investment growth by eliminating premium allocation and policy administration charges. Additionally, it offers flexibility to postpone the vesting age up to 70 years, allowing individuals to align their retirement goals as per their evolving financial needs.

      (ii) Investors can choose between the Pension Mid Cap Fund for higher growth potential or the Pension Bond Fund for stability. The plan also provides unlimited fund switches, premium redirection, and partial withdrawals after 5 years, offering greater financial flexibility.

Main Point :-   (i) For solar systems up to 3 kilowatt (kW), homeowners can access loans up to ₹2 lakh without requiring income documentation.

      (ii) The scheme mandates only a 10% margin contribution, with flexible repayment tenures of up to 10 years.

(iii) Installations between 3 kW and 10 kW qualify for loans up to ₹6 lakh, requiring a 20% margin contribution.

Main Point :-   (i) Indian industrialist and philanthropist Ratan Tata passed away on October 9, 2024. He was renowned for his contributions to education, healthcare, and rural development.

      (ii) He served as the Chairman of the Sir Ratan Tata Trust (SRTT) and Sir Dorabji Tata Trust (SDTT), India's largest private-sector philanthropic trusts.

(iii) In 2000, he received the Padma Bhushan, India's 3rd-highest civilian honor, for his service in trade and industry. In 2008, he was honored with the Padma Vibhushan, India's 2nd-highest civilian award, for his exceptional contributions.

      - The advancement of Artificial Intelligence (AI) further accelerates the need for data centres, as AI applications require higher computational power and lower latency compared to traditional cloud computing. This growing reliance on AI-driven technologies is expected to significantly boost data centre expansion in India.

Main Point :-   (i) Data centre projects are capital-intensive, with an estimated debt-to-equity ratio of 80:20. These projects require highly automated infrastructure, including advanced power and cooling systems, to ensure operational efficiency and scalability.

      (ii) According to CRISIL Ratings Limited, an estimated ₹55,000 crore to ₹65,000 crore investment will be required over the next three financial years (FYs) to meet India’s increasing data centre demands. The investment will primarily be allocated to land acquisition, building development, power equipment, and cooling solutions.

(iii) In February 2025, NaBFID planned to raise ₹5,000 crore via 15-year bonds (7.25%), while PFC raised ₹3,950 crore through 10 & 20-year bonds (7.24%-7.25%), boosting funding for infrastructure and tech development in India.

Main Point :-   (i) The acquisition grants Findi control over TCPSL’s white-label ATM platform, White Label ATM (WLA) license, and payment switch, adding 3,000 ATMs to its network, expanding its total to over 12,000 ATMs, and making it one of Asia’s largest ATM operators.

      (ii) TSI plans to deploy these ATMs at 180,000 FindiPay and BankIT merchant locations, while integrating them into Indicash franchises to enhance financial accessibility across India.

(iii) TCPSL pioneered India's first white-label ATM network, Indicash, in 2013 to support RBI’s mission of improving ATM access and remains one of India's largest white-label ATM operators.

Main Point :-   (i) 121 Finance, India’s largest independently owned NBFC-Factor, focuses on solving B2B (Business to Business) trade credit challenges faced by MSMEs.

      (ii) This partnership creates specialized loan products with smaller amounts, and works as key partners in the Open Credit Enablement Network (OCEN) framework.

(iii) The OCEN framework demonstrates how digital platforms can change lending in India. Its flexibility and scalability will support more projects, helping MSME growth and financial inclusion.

Main Point :-   (i) The task force is a collaborative effort, bringing together expertise from academia, industry, and government to create an institution focused on AI education, research, and innovation.

      (ii) The task force members include the Directors of the Indian Institute of Technology (IIT) Bombay, Mumbai, and the Indian Institutes of Management-Mumbai (IIM-M), Mumbai. It also includes representatives from Google India Private Limited (GIPL), Mahindra Group, and Larsen & Toubro Limited (L&T), along with officials from the Ministry of Electronics and IT (MeitY).

(iii) Additionally, experts from the Rajiv Gandhi Science and Technology Commission (RGSTC) of the Government of Maharashtra and the Data Security Council of India (DSCI) are part of the task force.

Main Point :-   (i) The product would allow customers to combine life insurance with Mutual Fund investments, providing an affordable and attractive solution that fosters financial inclusion in underserved areas.

      (ii) Additionally, SEBI is developing the "Pay Right" initiative to enable investors to verify the authenticity of Unified Payments Interface (UPI) payments through Know Your Customer (KYC) checks, thereby minimizing the risk of digital fraud.

      - The app is connected to India's Account Aggregator (AA) framework, which has exceeded 100 million consents, ensuring secure and streamlined sharing of financial data.

Main Point :-   (i) Jumpp offers multilingual AI-driven assistance in English and Hindi, enabling voice-based interactions for users with limited digital literacy. It also features an AI-powered chatbot that provides personalized financial advice while incorporating advanced fraud prevention mechanisms.

      (ii) The app prioritizes data security, strictly complying with regulatory guidelines to protect user information and ensure privacy.

(iii) Finvasia aims to onboard one million users by January 2026, focusing on expanding digital financial services beyond metro cities to reach a wider audience.

Main Point :-   (i) The facility will have a production capacity of 1,500 tonnes per day (TPD) and aims to accelerate clean energy adoption, lower carbon emissions, and promote sustainable industrial development.

      (ii) Casale will supply the Green Ammonia Process License, engineering designs, key equipment, and technical expertise to set up the facility.

(iii) Casale has licensed a total green ammonia capacity of 5,700 metric tonnes per day (MTD) in India to date.

Main Point :-   (i) Noel Tata graduated in Economics from the University of Sussex in 1978.

      (ii) With over 40 years of leadership experience at the Tata Group, Noel Tata has been instrumental in expanding Trent Limited, the group's fashion retail arm, through brands such as Westside, Star Bazaar, and Zudio.

(iii) In 2024, Noel Tata, Ratan Tata's half-brother, was appointed Chairman of Tata Trusts Limited, the philanthropic arm of the Tata Group.

Main Point :-   (i) Model testing was conducted at the Naval Science and Technological Laboratory (NSTL), Visakhapatnam, Andhra Pradesh (AP), to ensure the seaworthiness of the barges.

      (ii) In March 2021, the contract was signed with M/s Suryadipta Projects Private Limited, a Micro, Small, and Medium Enterprises (MSME) Shipyard, for the construction of 11 ACTCM Barges.

(iii) The shipyard has successfully delivered eight of these barges to date, which are being used by the Indian Navy for operational evolutions.

Main Point :-   (i) The transaction will be reversed on August 4, 2025, when the RBI will sell the USD 5.1 billion—acquired through 28 accepted bids—back to the market at the forward rate (currency exchange spot rate plus 96.71 paise) and absorb approximately Rs. 43,784 crores.

      (ii) Following the auction results, dollar-rupee forward premiums experienced a slight decline, with the 1-year implied yield moderating its rise to settle at the last quoted rate of 2.24%.

(iii) In an FX swap, the RBI purchases dollars from financial institutions in exchange for rupees, simultaneously increasing rupee liquidity and reducing excess dollar circulation.

Main Point :-   (i) It provides diversified exposure across sectors such as consumer discretionary, finance, healthcare, and real estate, offering a cost-effective way to invest in Indian equities.

      (ii) The minimum application amount during the NFO is ₹5,000, with the option to invest any amount thereafter. The cost per unit during the NFO is ₹10, with no exit load.

(iii) The MSCI India Index is a global benchmark comprising 156 large and mid-cap companies, covering approximately 85% of the Indian equity market.

Main Point :-   (i) The scheme offers interest rates ranging from 4.10% to 7.60% for Super Senior Citizens. Specifically, the 1-year TD rate is 7.4%, while the 5-year TD rate is 7.6%.

      (ii) The scheme includes Term Deposit Receipt (TDR) and Short-Term Deposit Receipt (STDR), with a minimum deposit of ₹1,000 and a maximum deposit of up to ₹3 crore. The deposit tenure ranges from 7 days to 10 years.

(iii) SBI imposes a penalty for premature withdrawals—0.50% for amounts up to ₹5 lakh, and 1% for amounts exceeding ₹5 lakh.

Main Point :-   (i) The decision follows NPCI Operating Circular (OC 193), issued in March 2024, which required UPI participants to generate transaction IDs exclusively using alphanumeric characters for technical standardization.

      (ii) All banks, payment service providers, and third-party applications (apps) must update their systems before the enforcement date.

Main Point :-   (i) The funding will be used to provide housing loans to low- and middle-income groups, with a special focus on encouraging women to own homes.

      (ii) Part of the funds will also support small and medium-sized businesses (MSMEs), especially those led by women, to promote economic growth.

Main Point :-   (i) With the launch of iSPOT, Market Infrastructure Institutions (MIIs) will now submit preliminary and Root Cause Analysis (RCA) reports of technical glitches to SEBI through the portal, ensuring enhanced data quality, traceability, and improved compliance monitoring.

      (ii) Previously, MIIs, including stock exchanges, clearing corporations, and depositories, were required to report technical glitches and submit RCA reports to SEBI via a dedicated email ID.

(iii) iSPOT will automatically send reminders to MIIs for RCA submissions and generate system-driven reports for regulatory monitoring.

      - CRAs play a vital role in the NPS ecosystem by managing subscriber records, ensuring transparency, and facilitating seamless account operations.

Main Point :-   (i) The CRA platform incorporates advanced security measures, including dual-factor authentication, passwords, and one-time passwords (OTPs).

      (ii) Subscribers can access dedicated portals, WhatsApp services, and a missed-call facility to monitor investments and make modifications effortlessly.

(iii) In 2024, the Government of India (GoI) increased tax benefits under corporate NPS from 10% to 14% of basic income.

      - The hydrogen-compliant steel pipes were manufactured at Tata Steel's Kalinganagar plant (Odisha) and processed at the Khopoli plant (Maharashtra), with the entire technology development—including hot-rolled steel design and pipe production—carried out in-house by Tata Steel.

Main Point :-   (i) The API X65 ERW pipes underwent hydrogen qualification tests conducted by RINA Consulting Centro Sviluppo Materiali (CSM) S.p.A., Italy, and successfully passed all critical tests, confirming their suitability for high-pressure hydrogen transportation.

      (ii) This development supports India's National Hydrogen Mission (NHM), which aims to produce 5 million metric tonnes (MMT) of green hydrogen annually by 2030, with potential to increase to 10 MMT for export.

(iii) The demand for hydrogen-compliant steel pipes is expected to begin in 2026-27, with an estimated total requirement of 350 kiloton (KT) over the next 5-7 years.