Recently, the Reserve Bank of India (RBI) issued guidelines for lenders on participating in the Government Debt Relief Scheme aimed at helping borrowers restructure loans impacted by financial distress. What is a key feature of this scheme?

The scheme allows lenders to restructure loans by offering measures like extending repayment periods, lowering interest rates, or even converting part of the debt into equity.

03rd January 2025 Current Affairs (Daily GK Update)

Table of Contents

National News

Government Considers Honorary Senior Ranks for Retiring Paramilitary Personnel

The Indian government is contemplating the introduction of honorary senior ranks for retiring Central Armed Police Force (CAPF) personnel who have not been promoted due to organizational constraints. This initiative aims to enhance morale among retiring personnel and acknowledge their service.

International News

Human Metapneumovirus (HMPV) Outbreak in China

China is currently experiencing a significant increase in human metapneumovirus (HMPV) cases, leading to concerns about a potential health crisis reminiscent of the COVID-19 pandemic. Reports indicate that hospitals are becoming overcrowded, with suggestions of multiple viruses, including HMPV, influenza A, Mycoplasma pneumoniae, and COVID-19, contributing to the situation. Despite some claims of a state of emergency, there has been no official confirmation from Chinese authorities.

Defence News

DRDO’s 67th Foundation Day

The Defence Research and Development Organisation (DRDO) celebrated its 67th Foundation Day on January 2, 2025. Established in 1958, DRDO has grown from a small entity with 10 laboratories to a vast network of around 52 laboratories and 5 DRDO Young Scientist Laboratories (DYSLs) across India. These laboratories are dedicated to developing advanced defence technologies in various fields, including missiles, aircraft, combat vehicles, naval systems, electronics, and life sciences.

State News

Arif Mohammad Khan Takes Oath as Bihar’s New Governor

Arif Mohammad Khan was sworn in as the 42nd Governor of Bihar, succeeding Rajendra Vishwanath Arlekar, who has been appointed as the Governor of Kerala. The ceremony took place at the Raj Bhawan, where Patna High Court Chief Justice K. Vinod Chandran administered the oath in the presence of several key political figures, including Chief Minister Nitish Kumar and Leader of the Opposition Tejashwi Yadav.

Rajendra Vishwanath Arlekar Sworn in as Kerala Governor

On January 2, 2025, Rajendra Vishwanath Arlekar took the oath as the 23rd Governor of Kerala in a ceremony held at Raj Bhavan, Thiruvananthapuram. He succeeds Arif Mohammed Khan, who has been appointed as the Governor of Bihar. The oath was administered by the Chief Justice of the Kerala High Court, Justice Nitin Madhukar Jamdar, in the presence of prominent dignitaries, including Kerala Chief Minister Pinarayi Vijayan and various ministers.

Economy News

RBI Reports 98.12% of ₹2,000 Notes Returned

As of December 31, 2024, the Reserve Bank of India (RBI) announced that 98.12% of the ₹2,000 denomination banknotes have been returned to the banking system, with ₹6,691 crore still held by the public.

Business News

Blinkit Launches 10-Minute Ambulance Service in Gurgaon

Blinkit CEO Albinder Dhindsa announced the launch of an instant ambulance service, where residents of Gurgaon can book an ambulance through the Blinkit app and have it arrive within 10 minutes. This initiative aims to address the critical need for quick emergency medical transport in urban areas. The service, which includes Basic Life Support (BLS) ambulances, marks a significant step toward providing fast and reliable medical aid.

SBI Enhances NRI Account Opening with TAB-Based Digital Onboarding

The State Bank of India (SBI) has introduced a TAB-based end-to-end digital onboarding process for Non-Resident Indians (NRIs) to streamline the opening of Non-Resident External (NRE) and Non-Resident Ordinary (NRO) accounts. This initiative, launched on January 2, 2025, aims to eliminate physical paperwork and expedite account setup through digital document verification.

Schemes News

One Nation One Subscription (ONOS)

Launched on January 1, 2025, the One Nation One Subscription (ONOS) initiative marks a significant advancement in India’s research and education landscape. This scheme aims to provide comprehensive access to international scholarly journals and articles for students, faculty, researchers, and scientists across the nation’s government higher education institutions (HEIs) and central government research and development (R&D) centres.

Ranks & Reports News

India’s 4th Biennial Report to UNFCCC Submitted

India submitted its 4th Biennial Update Report (BUR-4) to the United Nations Framework Convention on Climate Change (UNFCCC) on 30th December, 2024. This report builds upon the Third National Communication (TNC) and provides a comprehensive update on India’s National Greenhouse Gas (GHG) inventory for the year 2020. It also includes critical information on national circumstances, mitigation actions, and the associated finance, technology, and capacity-building needs.

Science and Technology News

Project VISTAAR: A Digital Revolution in Indian Agriculture

The Indian Institute of Technology Madras (IIT Madras) has partnered with the Ministry of Agriculture and Farmers Welfare to launch Project VISTAAR (Virtually Integrated System to Access Agricultural Resources). This initiative aims to enhance the efficiency and effectiveness of India’s agricultural extension system through digitalization, providing farmers with improved access to innovative technologies and advisory services.

Awards News

Sai Paranjpye to Receive Padmapani Lifetime Achievement Award

Sai Paranjpye, a legendary director and writer in Indian cinema, is set to be honored with the Padmapani Lifetime Achievement Award at the upcoming Ajanta-Ellora International Film Festival (AIFF) 2025. Known for her impactful slice-of-life films such as Sparsh, Chashme Buddoor, Katha, and Saaz, Paranjpye is regarded as a pillar of India’s parallel cinema movement, which gained prominence in the 1970s and 1980s. The award recognizes her extensive contributions to both Indian cinema and Marathi literature. The 10th edition of the festival is scheduled to take place in Chhatrapati Sambhajinagar from January 15 to 19, 2025, where Paranjpye will be conferred with the prestigious award.

Odia Poet Prativa Satpathy to Receive Gangadhar National Award

The Gangadhar National Award for Poetry 2023 will be conferred upon the renowned Odia poet Prativa Satpathy by Sambalpur University on its 58th foundation day on January 5. The award, instituted in 1989, recognizes excellence in the field of poetry and is named after the eminent Odia poet Gangadhar Meher. Over the years, many distinguished poets have received the award, and Prativa Satpathy is the latest recipient. This award aims to honor poets who have made significant contributions to the literary world.

Important Days News

Savitribai Phule Jayanti 2025, Know Date, History and Significance

Savitribai Phule Jayanti is celebrated every year on January 3rd to honor the birth anniversary of Savitribai Phule. She was a remarkable educator, social reformer, and poet who played a significant role in promoting education and fighting for social justice in India. In 2025, this special day falls on a Friday. serving as a reminder of her extraordinary contributions to society.

Obituaries News

Renowned Botanist K.S. Manilal Passes Away at 86

Eminent botanist and Padma Shri awardee Kattungal Subrahmanyan Manilal, aged 86, passed away on January 1, 2025, in Thrissur due to age-related ailments. He was renowned for translating the 17th-century Latin botanical treatise “Hortus Malabaricus” into English and Malayalam, significantly contributing to the documentation of India’s rich botanical heritage.

Books and Authors News

Jammu Kashmir & Ladakh Through The Ages’ Book Launched by Amit Shah

Union Home Minister and Minister of Cooperation, Shri Amit Shah, released the book ‘Jammu Kashmir & Ladakh Through the Ages: A Visual Narrative of Continuities and Linkages‘ in New Delhi. The event, attended by dignitaries including Union Minister of Education Shri Dharmendra Pradhan and Indian Council of Historical Research (ICHR) Chairman Prof. Raghuvendra Tanwar, highlighted the book’s role in documenting the geo-cultural unity of India. Shri Amit Shah emphasized the historical and cultural significance of Jammu, Kashmir, and Ladakh, dispelling misconceptions and underscoring their inseparable connection with India.