Daily Current Affairs April 02nd 2025 | Latest News | Download PDF

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CURRENT AFFAIRS: BANKING & FINANCE

Reserve Bank of India revises norms for govt-guaranteed security receipts issued by Asset Reconstruction Companies

• The Reserve Bank of India (RBI) has introduced revised prudential norms for Government of India-guaranteed Security Receipts (SRs) issued by Asset Reconstruction Companies (ARCs).

Key Changes in the Guidelines

• Reversal of Excess Provisions:
  • Banks and financial institutions can reverse excess provisions to their Profit & Loss (P&L) accounts if the sale consideration consists only of cash and Government-guaranteed SRs.
  • Non-cash SRs must be deducted from Common Equity Tier 1 (CET1) capital, and no dividends can be paid from this portion.
• Valuation of SRs:
  • Government-guaranteed SRs must be valued periodically based on the Net Asset Value (NAV) declared by ARCs, linked to recovery ratings.
  • Unrealized gains from fair valuation adjustments must be deducted from CET1 capital, with restrictions on dividends from such gains.

Rationale Behind the Move

• Previously, all SRs were treated uniformly under the Master Direction on Transfer of Loan Exposures (MD-TLE), 2021.
• The revised norms recognize the lower risk profile of Government-guaranteed SRs, allowing banks to optimize provisioning while maintaining capital discipline.

Who Does This Apply To?

• The circular applies to:
  • Commercial Banks (including Small Finance Banks (SFBs), Regional Rural Banks (RRBs), and Local Area Banks (LABs)).
  • Cooperative Banks (Urban, State, and Central).
  • All-India Financial Institutions (AIFIs).
  • Non-Banking Financial Companies (NBFCs) (including Housing Finance Companies (HFCs)).

Industry Implications

• Boosts investor confidence in ARC transactions involving government-backed SRs.
• Encourages faster resolution of stressed assets with clearer valuation guidelines.
• Strengthens capital buffers by preventing premature dividend distributions from unrealized gains.

What are Security Receipts (SRs)?

• Security Receipts (SRs) are instruments issued by Asset Reconstruction Companies as consideration for their purchase of distressed assets from banks/ NBFCs.
• A SR reflects an interest in the underlying distressed asset/ pool of distressed assets.

About RBI:

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Sanjay Malhotra

Reserve Bank of India Conference of Large Non-Banking Financial Companies

• The Reserve Bank held a Conference for large-sized Non-Banking Financial Companies (NBFCs) on March 28, 2025, in
• The theme of the conference was ‘Shared Vision, Shared Responsibility: Strengthening the NBFCs’.
• The move encourages NBFCs to maintain financial stability by limiting excessive risk-taking, strengthens transparency and accountability in auditing and risk management, and reinforces customer protection through fair lending and grievance redress mechanisms.
• This conference is part of RBI’s ongoing supervisory engagements with key stakeholders, ensuring the resilience and sustainability of the NBFC sector.
• Attended by over 200 participants, the event saw the participation of chairpersons of the Audit Committee of the Board (ACB), managing directors & CEOs of NBFCs, statutory auditors, and RBI executive directors in charge of regulation, supervision, and enforcement.

Key Highlights:

• NBFCs must avoid risks beyond their absorption capacity while ensuring fairness in lending and recovery.
• Robust grievance redress mechanisms are essential for customer protection.
• Auditors must maintain high standards of objectivity, transparency, and ethics.
• Over 200 industry leaders attended the RBI conference on strengthening NBFCs.

What is a Non-Banking Financial Company (NBFC)?

• A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods (other than securities) or providing any services and sale/purchase/construction of immovable property.

Recent News:

• The 8th State Level Coordination Committee (SLCC) Meeting, conducted by the RBI in Gangtok on March 26, 2025, focused on key financial security issues, including the implementation of the BUDS Act, prevention of digital financial frauds, and enhancing investor awareness.

Reserve Bank of India Releases December 2024 India’s International Investment Position (IIP) Data

• The Reserve Bank of India (RBI) has released data related to India’s International Investment Position for end-December 2024.

Key Highlights:

• It reported that net claims of non-residents in India increased by US$ 11 billion during Q3:2024-25, reaching US$ 364.5 billion in December 2024.
• Foreign assets of Indian residents declined by US$ 40.1 billion, and claims of non-residents in India also dropped by US$ 29.1 billion, leading to an increase in India’s net foreign liabilities.
• The decline in Indian residents’ foreign assets during October-December 2024 was mainly due to a US$ 70.1 billion decrease in reserve assets.
• However, reserve assets recorded an increase of US$ 13.2 billion compared to December 2023.
• The reduction in India’s foreign liabilities was driven by a decline in inward direct and portfolio investments during the quarter, although trade credit, loans, and currency & deposits saw an increase.
• Reserve assets accounted for 59.0 percent of India’s total international financial assets in December 2024.
• Variations in the exchange rate of the rupee against other currencies influenced changes in liabilities when valued in US dollar terms.
• The ratio of India’s international assets to international liabilities improved to 74.7 percent in December 2024, up from 73.1 percent a year ago.
• The share of debt liabilities in total external liabilities rose to 53.6 percent in December 2024, up from 52.9 percent in the previous quarter and 51.2 percent a year ago.

Reserve Bank of India says limit for Ways and Means Advances for first half of FY26 will be Rs 1.5 lakh crore

• The Reserve Bank of India (RBI) stated that it has decided, in consultation with the Government of India, that the limit for Ways and Means Advances (WMA) for the first half of the financial year 2025-26 (April to September 2025) will be Rs 1,50,000 crore.
• This may trigger the fresh flotation of market loans when the Government of India utilises 75 percent of the WMA limit.
• RBI, in consultation with the Government of India, retains the flexibility to revise the limit at any time, taking into consideration the prevailing circumstances.
• The interest rate on WMA will be Repo Rate, and for Overdraft, it will be 2% above the Repo Rate.

What is Ways and Means Advances (WMA)?

• Ways and means advances are special features of the Indian economy.
• WMA are temporary advances given by the RBI to the Centre and state governments to tide over any mismatch in receipts and payments.
• It was introduced in 1997 and comes under Section 17(5) of the RBI Act of 1934.
• It was introduced to end the four-decade-old system of ad-hoc treasury bills to finance the central government deficit.
• States and Centre pay interest linked to the repo rate on WMA withdrawals.
• The government can avail immediate cash from the RBI if required.
• But it has to return the amount within 90 days.
• Interest is charged at the existing repo rate.
• If the WMA exceeds 90 days, it would be treated as an overdraft (the interest rate on overdrafts is 2 percentage points more than the repo rate).
• WMA is not part of the Fiscal Responsibility and Budget Management Act (FRBM) because they get paid within the year itself.

500 Urban Co-op Banks to Come Under Reserve Bank of India’s New Remedial Framework From April 1, 2025

• About 500 weak urban co-operative banks (UCBs), which are currently under RBI’s Supervisory Action Framework (SAF), will transition to the Prompt Corrective Action (PCA) framework for remedial action with effect from April 1, 2025.

Key Highlights:

• The central bank’s PCA framework will replace the SAF for financially unsound and poorly managed UCBs from the mentioned date.
• The objective of the PCA framework is to enable supervisory intervention at an appropriate time, requiring the UCBs to implement remedial measures promptly to restore their financial health.
• The PCA framework does not preclude RBI from taking any other action as it deems fit, in addition to the corrective actions prescribed in the framework.
• The SAF for weak UCBs, which was introduced in 2012, initially encouraged self-corrective action by the management of the bank.
• If the financial position of the bank did not improve, RBI would intervene with supervisory action.
• Capital and Asset Quality are the key common areas for monitoring when a scheduled commercial bank (SCB) or an UCB is put under PCA.
• However, the third area of monitoring differs: it is leverage for an SCB and profitability for a UCB.

CURRENT AFFAIRS: NATIONAL NEWS

Union Home Minister Amit Shah Unveils ₹800 Crore Development Projects in Bihar on International Cooperative Day

• Union Home Minister Amit Shah launched a series of development projects and welfare schemes worth over ₹800 crore in Bihar, focusing on cooperative sector growth, urban development, law enforcement infrastructure, and transportation projects.
• The event was attended by Bihar Chief Minister Nitish Kumar, Deputy Chief Ministers Samrat Choudhary and Vijay Kumar Sinha, along with other dignitaries.

Key Announcements & Project Details

1. Cooperative Sector Development – ₹111 Crore

• Strengthening cooperative banking services and financial institutions.
• Enhancing agricultural credit access for farmers.
• Developing Primary Agricultural Cooperative Societies (PACS).
• Inauguration of a Makhana Processing Unit in Darbhanga, boosting rural employment.

2. Urban Development & Housing – ₹421 Crore

• Infrastructure enhancement in cities and towns.
• Affordable housing projects for economically weaker sections.
• Upgradation of municipal and sanitation facilities.

3. Law Enforcement & Security Infrastructure – ₹181 Crore

• Foundation stone laid for 133 new police buildings to improve law enforcement.
• Construction of new police stations in key locations.
• Upgraded training centers and modern security infrastructure.

4. Road Transport & Highways – ₹109 Crore

• Widening and upgrading roads to improve connectivity.
• Strengthening national and state highways for better trade and commuting.

5. Technology & Financial Inclusion

• Distribution of micro ATMs to ‘Bank Mitras’ under Bihar State Cooperative Bank.
• Facilitating digital transactions for farmers and small businesses.
• Expanding banking access in rural areas to promote financial inclusion.

CURRENT AFFAIRS: INTERNATIONAL NEWS

Insian Prime Minister Narendra Modi to visit Thailand for 6th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit

• The 6th Summit of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is set to take place on April 4 in Bangkok, Thailand, under the theme “Prosperous, Resilient, and Open BIMSTEC,” according to a release from the BIMSTEC Secretariat.
• The summit, being held three years after the 5th Summit in Colombo (which was conducted virtually in 2022), will be preceded by a meeting of BIMSTEC Senior Officials on April 2 and a meeting of BIMSTEC Foreign or External Affairs Ministers on April 3.

Key Highlights:

• According to the release, the summit aims to strengthen collaboration among the seven member states—Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka, and Thailand—to address shared security and developmental challenges.
• The agenda includes adopting the 6th BIMSTEC Summit Declaration, which will outline the leaders’ vision and directives, as well as the Bangkok Vision 2030, a pioneering roadmap for future cooperation among member states.
• Key agreements slated for signing include the Agreement on Maritime Transport Cooperation, designed to boost cargo and passenger transport across the Bay of Bengal, enhancing trade and travel.
• Additionally, Memoranda of Understanding (MoUs) will be signed between BIMSTEC and the Indian Ocean Rim Association (IORA) as well as the United Nations Office on Drugs and Crime (UNODC), marking the beginning of new developmental partnerships.
• The summit will also see the adoption of the Rules of Procedure for BIMSTEC Mechanisms, complementing the BIMSTEC Charter to strengthen the institutional framework for regional cooperation.
• Furthermore, the Report of the Eminent Persons Group on the Future Direction of BIMSTEC—finalized after six meetings in 2024 and consultations with stakeholders—will be presented, with member states already initiating implementation steps.
• Against the backdrop of a rapidly evolving global political and economic landscape, the 6th BIMSTEC Summit is expected to reinforce the organization’s role as the sole regional body in the Bay of Bengal, fostering cooperation to address security and sustainable development challenges.
• Since its inception in June 1997, BIMSTEC has held five summits in Bangkok in 2004, New Delhi in 2008, Nay Pyi Taw in 2014, Kathmandu in 2018, and Colombo in 2022.
• The upcoming summit marks a pivotal moment in shaping BIMSTEC’s future agenda across key sectors such as agriculture and food security, connectivity, environment and climate change, people-to-people contact, science, technology and innovation, security, and trade, investment, and development.
• BIMSTEC is also focusing on sub-sectors including the Blue Economy and Disaster Management.

CURRENT AFFAIRS: STATE NEWS

Uttarakhand Chief Minister Pushkar Singh Dhami announces to rename various places across the state

• Chief Minister Pushkar Singh Dhami announced the renaming of various places in Haridwar, Dehradun, Nainital, and Udham Singh Nagar districts of Uttarakhand.
• The renaming is being done in accordance with public sentiment, Indian culture, and heritage.
• The initiative aims to honor great personalities who have contributed to the preservation of Indian culture.

Renamed Places:

• Haridwar district:
  • Aurangzebpur → Shivaji Nagar
  • Gajiwali → Arya Nagar
  • Chandpur → Jyotiba Phule Nagar
  • Mohammadpur Jat → Mohanpur Jat
  • Khanpur Kursli → Ambedkar Nagar
  • Indrishpur → Nandpur
  • Khanpur → Shri Krishna Pur
  • Akbarpur Fazalpur → Vijayanagar
• Dehradun district:
  • Miyanwala → Ramji Wala
  • Pirwala → Kesari Nagar
  • Chandpur Khurd → Prithviraj Nagar
  • Abdullah Nagar → Daksh Nagar
• Nainital district:
  • Nawabi Road → Atal Marg
  • Panchakki to ITI road → Guru Golwalkar Marg
• Udham Singh Nagar district:
  • Sultanpur Patti municipal council → Kaushalya Puri

Recent News:

• As of January 2025, Uttarakhand implemented the Uniform Civil Code, making it the first state in independent India to put into effect such a law.

About Uttarakhand:

• Chief Minister: Pushkar Singh Dhami
• Governor: Gurmit Singh
• Capital: Dehradun
• National Parks: Jim Corbett National Park, Nanda Devi National Park, Rajaji National Park, Gangotri National Park, Valley of Flowers National Park
• Wildlife Sanctuaries: Kedarnath Wildlife Sanctuary, Askot Wildlife Sanctuary, Binsar Wildlife Sanctuary, Govind Wildlife Sanctuary, Sonanadi Wildlife Sanctuary, Nandi Devi Wildlife Sanctuary

CURRENT AFFAIRS: BUSINESS NEWS

GST Collections in March 2025: Strong Growth of 9.9% YoY

• India’s Goods and Services Tax (GST) collections saw a 9.9% year-on-year (YoY) increase, reaching ₹1.96 lakh crore in March 2025.
• This reflects robust economic activity and improved tax compliance.

Breakdown of GST Collections – March 2025

Tax Component	Collection (₹ Crore)
Central GST (CGST)	₹38,100 crore
State GST (SGST)	₹49,900 crore
Integrated GST (IGST)	₹95,900 crore
GST Cess	₹12,300 crore
Net GST (after refunds)	₹1.76 lakh crore (+7.3% YoY)

GST Performance in FY25

• Cumulative GST collections (FY25): ₹22.08 lakh crore (+9.4% YoY).
• Net GST collections after refunds: ₹19.56 lakh crore (+8.6% YoY).
• Government target: 11% YoY growth in GST revenues (₹11.78 lakh crore from CGST & compensation cess).

Month-wise GST Collection Trends

Month	GST Collection (₹ Lakh Crore)	YoY Growth
March 2025	₹1.96 lakh crore	+9.9%
February 2025	₹1.83 lakh crore	+9.1%
January 2025	₹1.96 lakh crore	+12.3%
December 2024	₹1.77 lakh crore	+7.3%
November 2024	Slower growth	+8.5% (post-festive season dip)

Key Drivers of GST Revenue Growth

1. Higher Domestic Consumption – Increased demand for goods and services.
2. Better Tax Compliance – AI-based monitoring, e-invoicing, and stricter enforcement.
3. Economic Growth – Manufacturing & services sector expansion.
4. Digital Tax Initiatives – Automation in GST return filings & real-time monitoring.
5. Seasonal Factors – Higher tax filings at the financial year’s start.

CURRENT AFFAIRS: AWARDS AND HONOURS

Renowned Historian MyNaa Swamy to Receive Ugadi Award from Andhra Pradesh Government

• The Andhra Pradesh government has announced that eminent historian and archaeologist MyNaa Swamy will be conferred with the prestigious Ugadi Award for his exceptional contributions to historical research and social service.
• Chief Minister N. Chandrababu Naidu will present the award at a special ceremony in Vijayawada.

Ugadi Award: A Prestigious Honor

• The Ugadi Award is one of the highest civilian honors given by the Andhra Pradesh government to individuals excelling in various fields. This year, MyNaa Swamy has been recognized for his remarkable work in historical research and epigraphy.

Award Components

• The ‘Kalaratna’ title
• The prestigious ‘Hamsa’ medal
• A certificate of appreciation
• A cash prize

The award ceremony will be held at Tummalapalli Kalakshetram, Vijayawada, where CM Chandrababu Naidu will personally present the honor.

MyNaa Swamy’s Contributions to Historical Research

Epigraphic Research & Discoveries

• Swamy has played a key role in deciphering over 100 inscriptions related to the Vijayanagara Empire and the Lepakshi Veerabhadra temple complex.
• His work covers inscriptions in Telugu, Kannada, and Sanskrit, offering new insights into South India’s political, cultural, and religious history.
• His discoveries have been instrumental in preserving temple heritage and expanding historical narratives.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Kotak Mahindra Bank’s Ambuj Chandna joins DBS Bank India

• Ambuj Chandna, a long-time executive at Kotak Mahindra Bank, has joined DBS Bank India as MD and Head of Consumer Banking Group.
• He previously served as President and Head of Consumer Bank (Products) at Kotak Mahindra Bank.
• Chandna’s move to DBS comes after more than 16 years at Kotak, where he held several leadership roles.
• He replaced Prashant Joshi, who joined DBS in August 2020, shortly after the bank acquired the distressed Lakshmi Vilas Bank.
• Chandna’s appointment comes just weeks after Rajat Verma took charge as the CEO of DBS Bank India, marking one of the first significant leadership changes under Verma’s tenure.
• In December 2024, Verma, who previously headed the Institutional Banking Group, was announced as the new CEO, succeeding Surojit Shome.
• Chandna’s role at Kotak Mahindra Bank shifted in July 2024 after the bank decided to overhaul its retail operations.
• He transitioned from being President of Consumer Assets to President and Head of Consumer Bank – Products, a position overseeing only part of the consumer banking business.
• He had initially joined Kotak in 2015 when it acquired ING Vysya Bank.

Indian Foreign Service Officer Nidhi Tewari Appointed Private Secretary To Prime Minister Modi

• Indian Foreign Service (IFS) officer Nidhi Tewari has been appointed as the Private Secretary to Prime Minister Narendra Modi.
• According to the memorandum issued by the Department of Personnel and Training (DoPT) on March 29, the Appointments Committee of the Cabinet approved her appointment with immediate effect.

About Nidhi Tewari:

• She is an IFS officer from the 2014 batch.
• She secured the 96th rank in the Civil Services Examination,
• Since January 6, 2023, Tewari has been serving as a Deputy Secretary in the Prime Minister’s Office (PMO).
• She joined as an Under Secretary in the PMO in 2022, thus serving over three years at the PMO.
• At the PMO, so far, she has worked as Deputy Secretary in the ‘Foreign and Security’ vertical that reports to National Security Advisor Ajit Doval.
• She was responsible for areas such as External Affairs, Atomic Energy and Security Affairs, as well as the state of Rajasthan.
• She has also served in the Disarmament and International Security Affairs Division during her stint in the External Affairs Ministry.
• She has worked as Assistant Commissioner (Commercial Tax), Varanasi before clearing her Civil Services Examination in
• Tewari hails from Mehmurganj in Varanasi – the Lok Sabha constituency of PM Modi.
• The Prime Minister has had two Private Secretaries so far – Vivek Kumar and Hardik Satishchandra Shah.

Tata Group appoints Shibashish Roy as MD & CEO of Croma from April 1, 2025

• Tata Group’s electronics retail chain Croma has officially named Shibashish Roy as its Chief Executive Officer (CEO) and Managing Director (MD).
• As per the company, the appointment is effective from April 1, 2025.
• Roy, a Tata Group veteran with over two decades of experience, was appointed CEO in November 2024 and worked closely with outgoing MD Avijit Mitra during a structured transition period that concluded in March 2025.
• Under his leadership, Croma has expanded its market presence and enhanced its customer experience across various sales channels, the company stated in a statement.

CURRENT AFFAIRS: ACQUISITION & MERGERS

Aditya Birla Capital Limited completes amalgamation of Aditya Birla Finance Limited

• Aditya Birla Capital has completed the amalgamation of its wholly-owned subsidiary, Aditya Birla Finance, creating a unified larger NBFC.
• The merger follows the National Company Law Tribunal (NCLT) Ahmedabad Bench’s order dated March 24, with the scheme effective from April 1, 2025.
• The decision to merge was taken in March 2024, subject to statutory and regulatory approvals.
• The board approved the appointments of Vishakha Mulye as MD & CEO and Rakesh Singh as Executive Director, subject to regulatory approvals.
• Nagesh Pinge and Sunil Srivastav have been appointed as independent directors.
• Chairman Kumar Mangalam Birla highlighted the company’s role in India’s economic growth and financial inclusion.
• CEO Vishakha Mulye emphasized better access to capital, operational synergies, and long-term growth benefits.
• The amalgamation aims to improve financial stability, operational efficiency, and stakeholder value.
• As of December 31, 2024, ABCL managed assets worth ₹5.03 lakh crore, with a consolidated lending book of ₹1.46 lakh crore.
• The company’s life and health insurance businesses had a gross written premium of ₹16,942 crore in 9M FY25.
• ABCL reported a consolidated revenue of ₹28,376 crore and a consolidated profit after tax of ₹2,468 crore in 9M FY25.
• The company has a pan-India presence with 1,482 branches and over 2,00,000 agents/channel partners.

CURRENT AFFAIRS: DEFENCE

India, United States to begin tri-service HADR exercise ‘Tiger Triumph’

• Exercise Tiger Triumph: India-US bilateral tri-service HADR exercise from April 2 to April 13 on the Eastern Seaboard.
• Objective: Develop interoperability for HADR operations, establish a joint coordination centre for rapid crisis response.

Indian Participation:

• Navy:
  • INS Jalashwa, INS Gharial, INS Mumbai, INS Shakti with helicopters & landing craft.
  • P-8I maritime patrol aircraft.
• Army:
  • 91 Infantry Brigade, 12 Mechanised Infantry Battalion.
• IAF:
  • C-130 transport aircraft, Mi-17 helicopters, Rapid Action Medical Team (RAMT).

US Participation:

• Navy:
  • USS Comstock, USS Ralph Johnson.
• Marines:
  • Troops from the US Marine Division.

Exercise Phases:

• Harbour Phase (April 2-7, Visakhapatnam):
  • Training visits, expert exchanges, sports, social interactions.
• Sea Phase (Post-April 7, off Kakinada, Andhra Pradesh):
  • Maritime, amphibious, and HADR operations.
  • Joint Command Centre at Kakinada Naval Enclave.
  • Medical camp by IAF RAMT & US Navy team.
• Conclusion (April 13, Visakhapatnam).

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

SpaceX launches first private mission to cruise over Earth’s polar orbit

• SpaceX launched the first human spaceflight directly over Earth’s polar regions – a days long, privately funded orbital mission involving four astronauts.
• Named “Fram2” after the famed Norwegian ship built in the 19th century for Arctic and Antarctic expeditions, the mission will feature a range of experiments including taking the first X-ray in space and growing mushrooms in microgravity.

Key Highlights:

• Fram2 is the first human spaceflight to cruise over Earth’s polar regions.
• The four-day privately funded orbital mission lifted off at 7:16 AM IST (9:46 PM, Monday) from NASA’s Kennedy Space Center, Florida, aboard SpaceX Crew Dragon “Resilience” on a Falcon 9 rocket.
• The crew includes Chun Wang, a Chinese-born Maltese adventurer and co-founder of crypto firms f2pool & skatefish, as Mission Commander.
• Jannicke Mikkelsen, a Norwegian film director, serves as Vehicle Commander.
• Rabea Rogge, a German robotics researcher, is the Mission Pilot, while Eric Philips, an Australian polar explorer, is the Mission Specialist & Medical Officer.
• The mission will conduct 22 research studies focused on long-duration space exploration & human health.
• Key experiments include the first X-ray in space, microgravity mushroom cultivation, and exercise studies to maintain muscle & skeletal mass.
• Upon returning to Earth, the crew will exit Dragon spacecraft without medical/operational support, testing astronauts’ ability to function independently post-mission.
• SpaceX has conducted five private astronaut missions, including Inspiration4 (2021), Polaris Dawn (first private astronaut spacewalk), and three Axiom Space missions to the ISS.
• This mission contributes to future deep-space exploration, including Mars missions, and marks the first human orbital flight over Earth’s polar regions, advancing research on astronaut health and space adaptability.

India’s Dhruva Space Links Hyderabad Antenna to Japan’s Infostellar Satellite Platform

• Hyderabad-based Dhruva Space and Japan-based Infostellar have announced a collaboration to integrate Dhruva Space’s 3.8m S&X-band ground station antenna in Hyderabad into Infostellar’s StellarStation.
• This move aims to expand Infostellar’s global ground station network and improve satellite communications interoperability.
• Infostellar plans to onboard the Dhruva Space antenna onto its Cloud-based StellarStation platform, making it accessible to its global client base for enhanced satellite ground segment services.
• The integration is subject to necessary licensing approvals from the Indian government.

CURRENT AFFAIRS: SPORTS NEWS

Francesco Bagnaia Wins Grand Prix of the Americas After Marc Marquez Crash

• Francesco Bagnaia capitalized on Marc Marquez’s crash to secure victory in the main MotoGP race at the Grand Prix of the Americas.

Race Highlights

• Marc Marquez slid off the track on lap nine of 19, dropping to the back and allowing Bagnaia to take the lead.
• The Italian Ducati rider secured his first win after a challenging period.
• Alex Marquez finished second, moving into the overall championship lead.
• Fabio Di Giannantonio of VR46 Racing claimed third place.

Championship Standings After Round 3

1. Alex Marquez – 87 points
2. Marc Marquez – 86 points
3. Francesco Bagnaia – 75 points

India Wins 10 Medals at Asian Wrestling Championships 2025

• India wrapped up its campaign at the Asian Wrestling Championships 2025 in Amman, Jordan, with a total of 10 medals – 1 gold, 3 silver, and 6 bronze.

Key Performances

Silver Medalists

• Deepak Punia (Men’s 92kg) – Lost 10-0 to Amir Hossein Firouzpour (Iran) in the final.
• Udit (Men’s 61kg) – Lost 6-4 to Suda Takara (Japan) in the final.
• Reetika Hooda (Women’s 76kg) – U23 World Champion secured silver.

Gold Medalist

• Manisha Bhanwala (Women’s 62kg) – Won India’s only gold in the tournament.

Bronze Medalists

• Dinesh (Men’s 125kg) – Defeated Zyyamuhammet Saparov (Turkmenistan) 14-12.
• Antim Panghal (Women’s 53kg) – Secured bronze.
• Muskan (Women’s 59kg)
• Mansi Lather (Women’s 68kg)
• Nitesh (Greco-Roman 97kg)
• Sunil Kumar (Greco-Roman 87kg)

Summary of India’s Medal Tally

• Gold – 1 (Manisha Bhanwala, Women’s 62kg)
• Silver – 3 (Deepak Punia, Udit, Reetika Hooda)
• Bronze – 6 (Antim Panghal, Dinesh, Muskan, Mansi Lather, Nitesh, Sunil Kumar)

CURRENT AFFAIRS: IMPORTANT DAYS

World Autism Awareness Day 2025: April 2

• On April 2^nd, World Autism Awareness Day 2025 is observed all over the world.
• It is a global event celebrated all over the world annually on April 2nd every year.
• The day recognizes and spreads awareness for the rights of people with autism. The condition typically starts during childhood and continues into adulthood.
• The 2025 observance, under the theme “Advancing Neurodiversity and the UN Sustainable Development Goals (SDGs)”,

History

• In the 1970s, treatments included secretin injection and risperidone to act on dopamine receptors.
• In 1995, as a result of her 30-year study, Sula Wolff published that children with Asperger syndrome represent the most subtle and most able end of the autism spectrum because they become independent as adults and display exceptional gifts.
• In 2007, created by the United Nations General Assembly, World Autism Awareness Day lands on April 2 every year.
• In 2013, The “American Psychiatric Association” developed a unified category of Autism Spectrum in the “Fifth Edition of the Diagnostic and Statistical Manual Of Mental Disorders.”

Daily CA One- Liner: April 2

• Union Home Minister Amit Shah launched a series of development projects and welfare schemes worth over ₹800 crore in Bihar, focusing on cooperative sector growth, urban development, law enforcement infrastructure, and transportation projects.
• India’s Goods and Services Tax (GST) collections saw a 9.9% year-on-year (YoY) increase, reaching ₹1.96 lakh crore in March 2025.
• The Andhra Pradesh government has announced that eminent historian and archaeologist MyNaa Swamy will be conferred with the prestigious Ugadi Award for his exceptional contributions to historical research and social service.
• The Reserve Bank of India (RBI) has introduced revised prudential norms for Government of India-guaranteed Security Receipts (SRs) issued by Asset Reconstruction Companies (ARCs).
• The Reserve Bank held a Conference for large-sized Non-Banking Financial Companies (NBFCs) on March 28, 2025, in
• The Reserve Bank of India (RBI) has released data related to India’s International Investment Position for end-December 2024.
• The Reserve Bank of India (RBI) stated that it has decided, in consultation with the Government of India, that the limit for Ways and Means Advances (WMA) for the first half of the financial year 2025-26 (April to September 2025) will be Rs 1,50,000 crore.
• About 500 weak urban co-operative banks (UCBs), which are currently under RBI’s Supervisory Action Framework (SAF), will transition to the Prompt Corrective Action (PCA) framework for remedial action with effect from April 1, 2025.
• The 6th Summit of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is set to take place on April 4 in Bangkok, Thailand, under the theme “Prosperous, Resilient, and Open BIMSTEC,” according to a release from the BIMSTEC Secretariat.
• Chief Minister Pushkar Singh Dhami announced the renaming of various places in Haridwar, Dehradun, Nainital, and Udham Singh Nagar districts of Uttarakhand.
• Ambuj Chandna, a long-time executive at Kotak Mahindra Bank, has joined DBS Bank India as MD and Head of Consumer Banking Group.
• Indian Foreign Service (IFS) officer Nidhi Tewari has been appointed as the Private Secretary to Prime Minister Narendra Modi.
• Tata Group’s electronics retail chain Croma has officially named Shibashish Roy as its Chief Executive Officer (CEO) and Managing Director (MD).
• Aditya Birla Capital has completed the amalgamation of its wholly-owned subsidiary, Aditya Birla Finance, creating a unified larger NBFC.
• Exercise Tiger Triumph: India-US bilateral tri-service HADR exercise from April 2 to April 13 on the Eastern Seaboard.
• SpaceX launched the first human spaceflight directly over Earth’s polar regions – a days long, privately funded orbital mission involving four astronauts.
• Hyderabad-based Dhruva Space and Japan-based Infostellar have announced a collaboration to integrate Dhruva Space’s 3.8m S&X-band ground station antenna in Hyderabad into Infostellar’s StellarStation.
• Francesco Bagnaia capitalized on Marc Marquez’s crash to secure victory in the main MotoGP race at the Grand Prix of the Americas.
• India wrapped up its campaign at the Asian Wrestling Championships 2025 in Amman, Jordan, with a total of 10 medals – 1 gold, 3 silver, and 6 bronze.
• On April 2^nd, World Autism Awareness Day 2025 is observed all over the world.