National News
Commemorative Postage Stamp Issued in Honor of Mata Karma
The Department of Posts has issued a commemorative postage stamp honoring Mata Karma, a saint, social reformer, and devotee of Lord Krishna, on her 1009th birth anniversary. The stamp was unveiled in Raipur in the presence of Chhattisgarh CM Vishnu Deo Sai and Union Minister Tokhan Sahu. Mata Karma is celebrated for her spiritual devotion, social reform efforts, and women’s empowerment, leaving a lasting impact on Indian culture and religious harmony.
State News
West Bengal Police Launches Mobile App for Transparent Transfers
The West Bengal Police launched a mobile app to ensure transparent and corruption-free transfers for constables to sub-inspectors. Integrated with e-HRMS software, the app eliminates bribery and favoritism in transfers. Key details: Deadline for applications is April 11, and officers who applied before March 21 must reapply. Medical exemptions allow personnel to apply anytime. Help desks in district police units will assist users. The initiative follows allegations of financial demands for transfers, promoting efficiency and integrity in the system.
Haryana Launches AI Chatbot ‘Sarathi’ for Citizen Services
The Haryana government launched ‘Sarathi’, an AI-powered chatbot, to enhance public access to government documents and policies. Introduced by CM Nayab Singh Saini, it provides instant retrieval of 17,820+ documents, scanning 73,622 PDF pages for notifications, orders, acts, and policies. Key features include AI-powered search, 24/7 availability, and a user-friendly interface. This initiative boosts digital governance, improves efficiency, enhances public engagement, and promotes transparent governance, aligning with India’s AI-driven governance trend.
Darjeeling’s Padmaja Naidu Himalayan Zoological Park Launches DNA Preservation Project
The Padmaja Naidu Himalayan Zoological Park, Darjeeling, has become India’s first zoo to preserve wildlife DNA from snowy regions. In collaboration with CCMB, Hyderabad, the project has collected 60 DNA samples from red pandas, snow leopards, and other species. Using cryogenic preservation, DNA is stored in liquid nitrogen for long-term conservation. A dedicated research lab supports genetic studies, aiding in species restoration, biodiversity research, and wildlife protection, ensuring genetic material remains preserved even if species face extinction.
International News
Netumbo Nandi-Ndaitwah Sworn in as Namibia’s First Female President
Netumbo Nandi-Ndaitwah made history on March 21, 2025, by becoming Namibia’s first female president, coinciding with the country’s 35th Independence Day. A veteran of SWAPO, she won the November 2024 elections with 58% of the vote. Outgoing President Nangolo Mbumba handed over power in a ceremony attended by African leaders. Acknowledging Namibia’s progress since 1990, she pledged to address unemployment, targeting 500,000 jobs in the next five years through agriculture, fishing, and creative sectors. Her election marks a historic milestone in Namibia’s political landscape.
Banking News
HDFC Bank Embassy Fixed Deposit: A Comprehensive Guide
HDFC Bank has introduced Embassy Fixed Deposits, a specialized Foreign Currency (FCY) Term Deposit available exclusively to diplomats, non-diplomatic staff, and diplomatic missions in India. These deposits are currently offered only in USD with competitive interest rates based on tenure. Effective from March 18, 2025, the scheme outlines minimum deposit amounts, renewal policies, and investment benefits for diplomatic entities.
ATM Withdrawals to Get Costlier from May 1 as RBI Approves Fee Hike
Starting May 1, 2025, ATM withdrawals in India will become costlier as the RBI has approved an interchange fee hike due to rising operational costs of white-label ATM operators. Customers exceeding their free transaction limits will pay an additional ₹2 per financial transaction and ₹1 per non-financial transaction. Revised charges: ₹19 per cash withdrawal (up from ₹17) and ₹7 for balance inquiry (up from ₹6). The fee hike may impact smaller bank customers, while digital payments continue to rise, surging from ₹952 lakh crore (FY14) to ₹3,658 lakh crore (FY23).
RBI Revises Priority Sector Lending (PSL) Norms Effective April 1, 2025
The RBI has revised Priority Sector Lending (PSL) guidelines, effective April 1, 2025, to improve credit accessibility for agriculture, MSMEs, renewable energy, housing, education, and social infrastructure. Key changes include higher loan limits (₹25 lakh for education, ₹8 crore for social infrastructure, ₹50 lakh for housing in metros), ₹35 crore for renewable energy projects, and ₹10 lakh for households. UCBs’ PSL target set at 60% of ANBC, with 7.5% for micro enterprises and 12% for weaker sections. The ‘Weaker Sections’ category now includes transgenders, small farmers, artisans, SHG members, SC/ST, persons with disabilities, and minority communities, boosting financial inclusion.
RBI Imposes Penalties on HDFC Bank, Punjab & Sind Bank, and KLM Axiva Finvest for Regulatory Non-Compliance
On March 26, 2025, the Reserve Bank of India (RBI) imposed penalties on HDFC Bank (₹75 lakh), Punjab & Sind Bank (₹68.20 lakh), and KLM Axiva Finvest for regulatory non-compliance. HDFC Bank was penalized for KYC violations, highlighting the importance of anti-fraud measures. Punjab & Sind Bank faced penalties for non-compliance with large corporate exposure norms and financial inclusion guidelines related to Basic Savings Bank Deposit Accounts (BSBDA). The penalties emphasize RBI’s strict enforcement of banking regulations to ensure transparency and financial integrity.
Business News
JSW Steel Becomes the World’s Highest-Valued Steelmaker with Over $30 Billion Market Capitalisation
JSW Steel, led by Sajjan Jindal, has become the world’s highest-valued steel manufacturer, surpassing US-based Nucor Corp with a market capitalization exceeding $30 billion. The surge in stock value, reaching Rs 1,074.15 per share on BSE, was driven by strong stock performance and government policies supporting domestic steel producers. This achievement places JSW Steel ahead of global giants like ArcelorMittal, Nippon Steel, and Baoshan Iron, solidifying its leadership in the steel industry.
Agreement News
CDSL Arm Centrico Insurance Repository Partners with LIC for Digital Insurance Services
Centrico Insurance Repository, a CDSL subsidiary, has partnered with LIC to offer digital insurance repository services, promoting paperless policy management. Centrico, already partnered with 43 insurers (including 23 life insurers), is expanding its digital network. LIC, with a ₹3.36 trillion new business premium (FY25), strengthens its market leadership. This move boosts digital accessibility, enhances policyholder convenience, and drives insurance sector transformation.
MoRD and UNICEF YuWaah Sign Statement of Intent to Empower Rural Women and Youth
The Ministry of Rural Development (MoRD) and UNICEF YuWaah have signed a Statement of Intent (SOI) for a three-year partnership to empower rural women and youth in India. The collaboration aims to boost livelihood opportunities, entrepreneurship, and digital infrastructure. Key initiatives include supporting SHG women, enhancing female labor force participation, launching Computer Didi Centers and Didi ki Dukan, expanding youth skilling through Youth Hub, and promoting the Lakhpati Didi initiative to foster women entrepreneurs.
Appointments News
Canara Bank Appoints S. K. Majumdar as Executive Director
Canara Bank appointed S. K. Majumdar as Executive Director, effective March 24, 2025. Previously serving as CFO, he brings 25+ years of banking experience. A Chartered Accountant (CA) and Cost Accountant, Majumdar has been with Canara Bank since 2000, excelling in financial management, governance, and operations. His leadership is expected to drive the bank’s growth and efficiency.
Rahul Bhave Appointed as MD & CEO of IFCI
Rahul Bhave has been appointed as MD & CEO of IFCI for a three-year term, succeeding his role as Deputy MD. The appointment was approved by the Appointments Committee of the Cabinet (ACC), led by the Prime Minister. IFCI, India’s first development financial institution (est. 1948), plays a key role in industrial and infrastructure financing. In November 2024, the Finance Ministry approved the ‘Consolidation of IFCI Group’, merging IFCI Ltd with StockHolding Corporation of India Ltd and other subsidiaries.
Defense News
DRDO & Indian Navy Successfully Test-Fire VLSRSAM Missile
DRDO and the Indian Navy successfully flight-tested the Vertically-Launched Short-Range Surface-to-Air Missile (VLSRSAM) on March 26, 2025, at ITR Chandipur, Odisha. The missile effectively engaged and destroyed a high-speed aerial target at low altitude, demonstrating its Near-Boundary-Low Altitude capability. Launched from a land-based vertical launcher, the test validated its agility, accuracy, and reliability in combat conditions. Key technologies tested included the RF Seeker for precision tracking, Multi-Function Radar (MFR) for real-time data, Weapon Control System (WCS) for engagement coordination, and Range Instruments for flight data analysis. This achievement enhances India’s naval air defense capabilities with indigenous technology.
Schemes News
Baalpan ki Kavita Initiative: Restoring Bhartiya Rhymes for Young Children
The “Baalpan ki Kavita” Initiative, launched by the Department of School Education & Literacy (DoSE&L) under the Ministry of Education, aims to preserve and promote Indian rhymes for young children. Aligned with NEP 2020, it focuses on Early Childhood Education, multilingualism, and cultural relevance. The initiative compiles nursery rhymes and poems in Indian languages and English for Pre-primary (3-6 years), Grade 1 (6-7 years), and Grade 2 (7-8 years). It encourages public participation in restoring traditional rhymes to ensure joyful and culturally rich learning experiences for children.
Sports News
B Sumeeth Reddy Announces Retirement from Badminton to Focus on Coaching
B Sumeeth Reddy, India’s doubles badminton specialist, has announced his retirement to focus on coaching. A key player in Indian badminton, he was part of the 2022 Commonwealth Games silver medal-winning squad and had a career spanning over a decade.
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