Current Affairs One - Liner : 28th March 2025

National:

• On March 25, 2025, the Indian Railway Finance Corporation (IRFC) signed a ₹5,000 crore Rupee Term Loan agreement with NTPC Renewable Energy Limited (NTPC REL), a subsidiary of NTPC Green Energy Limited. The loan will support NTPC REL's capacity expansion projects and refinance existing debt.

• On March 26, 2025, the Argentine Football Association (AFA) partnered with HSBC for the 2025 season in India and Singapore. This partnership focuses on brand synergy and international outreach, featuring the Argentina national football team, including Lionel Messi, in an exhibition match in October 2025 in India.
• The Yaoshang Festival of Manipur, also known as the "Holi of Manipur," was celebrated on March 14 and 15, 2025, after a year of pause. It began with the Yaoshang Mei Thaba (burning of thatch huts) and included Thabal Chongba (moonlight dance), sports, and joyful use of colors.
• On March 27, 2025, the Lok Sabha passed the Immigration & Foreigners Bill, 2025, aiming to revamp India's immigration laws. The bill consolidates outdated regulations, introduces real-time tracking of foreigners, and mandates reporting by hotels, universities, and hospitals.
• The Sahkar Taxi initiative was announced on March 27, 2025, by Union Home Minister Amit Shah. It aims to benefit cab, auto, and two-wheeler drivers by eliminating high commission fees from private platforms. The service will operate through cooperative societies, ensuring drivers retain their full earnings.
• On March 27, 2025, the Ministry of Coal launched the 12th tranche of commercial coal mine auctions in New Delhi, offering 28 coal and lignite blocks across multiple states. The initiative aims to boost domestic coal production, reduce imports, and strengthen energy security. Among the offered blocks, 13 are fully explored, 12 are partially explored, and 2 are lignite mines.
• On March 28, 2025, India was confirmed as the world's second-largest tea exporter for 2024, surpassing Sri Lanka with a record export of 255 million kilograms. Key markets included Iraq, UAE, Iran, Russia, USA, and the UK, with black tea contributing 96% of the total exports. Renowned varieties like Assam, Darjeeling, and Nilgiri teas drove global demand.

Banking:

• On March 26, 2025, the RBI imposed penalties on HDFC Bank (₹75 lakh) for violations of KYC norms, including improper risk categorization and duplicate identification codes. Punjab & Sind Bank faced a fine of ₹68.20 lakh for non-compliance with large exposure reporting and BSBDA norms.
• On March 24, 2025, the Bank of India (BoI) partnered with New India Assurance Co. Ltd. (NIACL) to offer enhanced general insurance products. The collaboration leverages BoI's network of 5,200 branches to provide comprehensive insurance solutions, including health, motor, and home coverage. This strategic alliance aims to ensure greater financial security for customers by integrating banking and insurance services.
• On March 28, 2025, the ADB-funded SMILE Program was launched with a $350 million loan to boost India's logistics efficiency. The program aims to enhance multimodal infrastructure, reduce logistics costs, and align with the National Logistics Policy. It focuses on improving the Logistics Performance Index (LPI) ranking and promoting sustainable practices like smart logistics systems and low-emission transport.

Economy:

• Punjab Finance Minister Harpal Singh Cheema presented a ₹2.36 lakh crore budget for FY 2025-26 on March 26, 2025. Major highlights include a universal health insurance scheme for 65 lakh families, ₹150 crore for a drug census, and ₹110 crore for anti-drone systems to combat smuggling. The budget focuses on healthcare, education, and tackling the drug menace while projecting a 10% GSDP growth for the next fiscal year.

MoUs:

• On March 25, 2025, IIM Mumbai and CAG India signed an MoU in New Delhi to strengthen economic governance and accountability. The collaboration aims to enhance audit practices in key sectors like oil & gas, defense, and healthcare while focusing on inventory management, supply chain, and logistics audits.

Science & Technology:

• On March 27, 2025, ISRO successfully completed the Rolling Experiment as part of its SpaDeX mission, validating satellite maneuvering capabilities for future missions like Chandrayaan-4 and Gaganyaan.

Reports:

• On March 27, 2025, Union Minister Ashwini Vaishnaw announced in New Delhi that India has become the second-largest 5G market globally. This milestone was highlighted in the India Mobile Broadband Index (MBiT) 2025 report released by Nokia, which projects 770 million 5G subscribers by 2028.
• On March 24, 2025, the FAO released the report titled The Third Report on the State of the World’s Plant Genetic Resources for Food and Agriculture (SoW3) during CGRFA-20 in Rome. It highlights that 60% of global crop production depends on just nine crops and warns of declining diversity in Farmer Varieties and Land Races (FV/LR)

Defence:

• On March 26, 2025, the Indian Navy launched the 10th Ammunition Cum Torpedo Cum Missile (ACTCM) Barge, named LSAM 24 (Yard 134), in Thane, Maharashtra. The barge, part of a contract for 11 ACTCM Barges, supports naval logistics by transporting ammunition, torpedoes, and missiles.

Military Exercises:

• The Indian Armed Forces conducted the tri-services Exercise Prachand Prahar from March 25 to 27, 2025, in the high-altitude terrain of the Himalayas along the Northern Borders in Arunachal Pradesh. This multi-domain exercise involved the Army, Navy, and Air Force, showcasing their integrated operational capabilities. Advanced surveillance systems, fighter aircraft, drones, and precision weaponry were deployed to simulate modern battlefield conditions.

Appointments:

• Jay Bhattacharya, an Indian-American scientist, was appointed as the 18th Director of the NIH after confirmation by the U.S. Senate on March 25, 2025. A professor at Stanford University, he's renowned for contributions to health policy and economics.

Awards & Honours:

• On March 27, 2025, Punjab & Sind Bank received the Top Improvers Award in the EASE 6.0 Reforms Index, highlighting its advancements in digital banking, customer service, and operational efficiency. The award recognizes its role in transforming public sector banks under the Enhanced Access and Service Excellence (EASE) initiative.
• Union Minister Piyush Goyal presented the National IP Awards 2024 on March 26, 2025, at Bharat Mandapam, New Delhi. The awards recognized outstanding contributions in IP creation and commercialization across 13 categories.

Questions:

Q.1 The Yaoshang Festival, celebrated in Manipur, is also known as the:
a) Festival of Colors
b) Harvest Festival of Manipur
c) "Holi of Manipur"
d) Spring Festival of the Northeast

Answer: c) The Yaoshang Festival of Manipur, also known as the "Holi of Manipur," was celebrated on March 14 and 15, 2025.

Q.2 Which of the following financial institutions signed a Rupee Term Loan agreement of ₹5,000 crore with NTPC Renewable Energy Limited (NTPC REL) on March 25, 2025?
a) Indian Railway Finance Corporation (IRFC)
b) Reserve Bank of India (RBI)
c) State Bank of India (SBI)
d) National Bank for Agriculture and Rural Development (NABARD)

Answer: a) On March 25, 2025, the Indian Railway Finance Corporation (IRFC) signed a ₹5,000 crore Rupee Term Loan agreement with NTPC Renewable Energy Limited (NTPC REL), a subsidiary of NTPC Green Energy Limited.