Daily Current Affairs April 08th 2025 | Latest News | Download PDF

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CURRENT AFFAIRS: BANKING & FINANCE

Reserve Bank of India Launches Verified WhatsApp Channel to Boost Financial Awareness

• In a move to enhance public awareness and promote financial literacy, the Reserve Bank of India (RBI) has launched a verified WhatsApp channel under its ongoing ‘RBI Kehta Hai’ initiative.
• This latest step by the RBI aims to deliver crucial financial information directly to citizens in a simple and accessible manner.

Key Highlights :

• The RBI has been conducting public awareness campaigns through various platforms, including text messages, television, and digital advertisements.
• With the introduction of the WhatsApp channel, the RBI plans to strengthen its outreach efforts and ensure that important financial messages reach people across different regions of the country.
• The central bank stated that the WhatsApp channel would share updates on financial literacy, fraud prevention, and secure banking practices.
• This initiative is expected to increase accessibility, strengthen public trust, and promote safer banking habits among users.
• The rise of digital payments has also led to growing risks of financial fraud.
• During the inauguration ceremony of Digital Payments Awareness Week 2025 in Mumbai, RBI Governor Sanjay Malhotra stated that the RBI will continue to ensure innovation in digital payment systems across the country.
• Strengthening Payment Security Framework : Last year, the RBI introduced a draft framework focused on strengthening the security of digital payments.
• According to the framework, all digital transactions, excluding card-present transactions, must use a dynamically generated authentication factor unique to each transaction.
• This move is intended to prevent fraud and enhance the safety of online payments.
• Through its verified WhatsApp channel and ongoing reforms, the RBI aims to build a safer, more inclusive, and digitally empowered financial ecosystem in India.

Recent News:

• As of April 2025, the Reserve Bank of India decided not to alter the Foreign Portfolio Investor (FPI) limits for investments in government and corporate bonds for FY2025- 26, the unchanged ceilings — 6% for central government securities, 2% for state loans, and 15% for corporate bonds.

About RBI :

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

Finance Ministry to Roll Out ‘One State-One RRB’ Plan, Set To Trim Rural Banks To 28

• The Government of India is set to implement the ‘One State-One RRB’ plan to enhance operational efficiency and reduce costs by consolidating the number of Regional Rural Banks (RRBs) from 43 to 28.
• This move is part of the fourth phase of amalgamation, and most of the groundwork has already been completed.

Key Highlights:

• States such as Andhra Pradesh (which currently has 4 RRBs), Uttar Pradesh, and West Bengal (3 each), as well as Bihar, Gujarat, Jammu & Kashmir, Karnataka, Madhya Pradesh, Maharashtra, Odisha, and Rajasthan (2 each), are slated for consolidation.
• In Telangana, the asset and liability bifurcation between Andhra Pradesh Grameena Vikas Bank (APGVB) and Telangana Grameena Bank has been concluded.
• The government had previously infused ₹5,445 crore in growth capital over two years starting in 2021–22 to support RRBs ahead of consolidation.
• As a result, RRBs posted a record consolidated net profit of ₹7,571 crore in 2023–24.
• Their capital adequacy ratio reached an all-time high of 14.2%, and gross NPAs stood at 6.1%, the lowest in the last decade.
• Originally created under the RRB Act of 1976 to serve rural communities such as farmers and artisans, RRBs have seen structural changes over the years.
• The Act was amended in 2015 to allow these banks to raise capital from non-government sources.
• However, the combined shareholding of the Centre and sponsor banks must remain at or above 51%.
• As of March 31, 2024, 43 RRBs operate through 22,069 branches across 26 states and 3 union territories, covering 700 districts.
• These banks are also accelerating the rollout of digital services to expand their rural footprint.

About Ministry of Finance:

• Cabinet Minister: Smt. Nirmala Sitharaman
• Minister of State (MoS): Shri Pankaj Chaudhary, Dr. Bhagwat Kishanrao Karad

National Bank for Financing Infrastructure and Development (NaBFID) expands warehousing presence, extends Rs 2,300-crore loan to Welspun One’s project

• The National Bank for Financing Infrastructure and Development (NaBFID) has extended funding to Welspun One for its 55-acre logistics and warehousing project at the Jawaharlal Nehru Port Authority (JNPA) in Navi Mumbai.
• Welspun One announced that it has achieved financial closure for the ₹2,700-crore project, located in a Special Economic Zone (SEZ) next to the port.
• This will be the largest single-location Grade-A warehousing project in India, with a development potential of over 3.6 million sq ft.
• NaBFID has provided a 22-year term loan, emphasizing its suitability for long-gestation infrastructure projects with extended repayment schedules.
• Over the past year, NaBFID has identified warehousing as a key investment sector, including a ₹745 crore investment in NDR InvIT Trust through long-term bonds in December.
• The JNPA facility will cater to third-party logistics (3PL), e-commerce, consumer goods, and manufacturing sectors.
• The park is expected to set new benchmarks in efficiency and scalability, with NaBFID’s support enabling accelerated execution.
• Welspun One operates category-II alternative investment funds for logistics and warehousing; it has launched a plan to raise ₹4,000 crore to grow assets under management to $1 billion.
• The company currently has an operational portfolio of ~22 million sq ft.
• The Goenka family (promoters from Welspun Group) is exploring the sale of partial or full stake in Welspun One, with multiple domestic and foreign logistics/private equity firms bidding in the range of $100–120 million.

About NaBFID:

• The National Bank for Financing Infrastructure and Development (NaBFID) is a specialized financial institution established by the Government of India in 2021 under the NaBFID Act.
• Its primary purpose is to address the country’s infrastructure financing needs by providing long-term, non-recourse loans and fostering the development of financial markets related to infrastructure projects.
• It shall be regulated and supervised by RBI as an All-India Financial Institution (AIFI).

Securis Finance gets Reserve Bank of India’s approval to operate as a Non-Banking Financial Company (NBFC)

• Securis Finance Pvt. Ltd., a wholly owned subsidiary of FirstPay Technologies, has received approval from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Company (NBFC).
• The company is entering the education loan sector with a strong vision for growth.
• The firm plans to disburse ₹100 crore in education loans during its first year, aiming to reach ₹1,000 crore by 2030.
• Loan amounts will range between ₹50,000 to ₹5 lakh, and the company expects to serve over 10,000 students in the first year alone.
• The company is focusing on students in Bengaluru, Mumbai, Delhi-NCR, Hyderabad, and Pune, cities known for their robust educational infrastructure.
• It also aims to partner with more than 50 institutions and fintech platforms, with the long-term goal of supporting 1,00,000 students annually by 2030.

About NBFC:

• A Non-Banking Financial Company (NBFC) is a financial institution that offers financial services like loans, insurance, and investments, but is not a bank.
• NBFCs are regulated by the Reserve Bank of India (RBI).
• NBFC Functions:
  • NBFC cannot accept demand deposits;
  • NBFCs do not form part of the payment and settlement system and cannot issue cheques drawn on itself
  • Deposit insurance facility of the Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs, unlike in the case of banks.

CURRENT AFFAIRS: NATIONAL NEWS

Prime Minister Narendra Modi’s Rameswaram Visit: Inaugurations and Infrastructure Initiatives

• Prime Minister Narendra Modi visited Rameswaram, Tamil Nadu, marking a significant milestone with the inauguration and foundation laying of infrastructure projects worth over ₹8,300 crore.
• The visit, which coincided with Shri Ram Navami and BJP Foundation Day, began with prayers at the revered Ramanathaswamy Temple and celebrated Tamil Nadu’s cultural pride and economic potential.

Key Highlights of the Visit and Projects

Spiritual and Cultural Inception

• Performed darshan and pooja at Ramanathaswamy Temple, one of India’s holiest shrines.
• Linked Tamil Nadu’s heritage to national identity by referencing Lord Ram in Sangam-era literature.

Inauguration of the New Pamban Rail Bridge

• Inaugurated India’s first vertical lift railway sea bridge—the New Pamban Rail Bridge.
• Specifications: Cost over ₹700 crore, length of 2.08 km, featuring 99 spans and a 72.5-metre vertical lift span.
• Designed to facilitate both ship navigation and train movement, integrating modern technology with traditional values.

Enhancement of Rail Connectivity

• Flagged off a new train service connecting Rameswaram to Tambaram (Chennai).
• Aimed at boosting connectivity, tourism, trade, and employment opportunities in Tamil Nadu.

Major Road Infrastructure Projects

• Laid foundation and dedicated several National Highway projects:
  • NH-40 (Walajapet–Ranipet): 28 km, four-laning.
  • NH-332 (Viluppuram–Puducherry): 29 km, four-laned.
  • NH-32 (Poondiyankuppam–Sattanathapuram): 57 km.
  • NH-36 (Cholapuram–Thanjavur): 48 km.
• Projects designed to improve access to pilgrim centres, ports, hospitals, and markets.

Expansion in Infrastructure Funding

• Tamil Nadu’s railway budget has grown seven-fold since 2014 (from ₹900 crore to over ₹6,000 crore).
• Modernization of 77 railway stations, including Rameswaram, is underway.

Blue Economy and Fishermen Welfare

• Tamil Nadu continues to play a pivotal role in India’s Blue Economy.
• Implementation of the PM Matsya Sampada Yojana includes major investments in seaweed parks, harbors, and landing centres.
• Over 3,700 fishermen have been rescued from Sri Lanka in the past 10 years.

Social Infrastructure and Welfare Initiatives

• Construction of 12 lakh pucca houses in Tamil Nadu under the PM Awas Yojana.
• Provision of tap water to 1.11 crore rural families in Tamil Nadu.
• Ayushman Bharat has provided 1 crore treatments, saving ₹8,000 crore.
• Jan Aushadhi Kendras have saved ₹700 crore.

Education and Health Enhancements

• Establishment of 11 new medical colleges in Tamil Nadu.
• Encouragement of medical education in Tamil, particularly benefiting rural students.

Support to Farmers

• ₹12,000 crore distributed under PM-KISAN to Tamil Nadu farmers.
• ₹14,800 crore allocated as crop insurance under PM Fasal Bima Yojana.

Vision for a Developed India

• PM Modi emphasized that improved connectivity and robust infrastructure drive economic empowerment.
• Cited mega projects such as the Chenab Bridge, Atal Setu, Bogibeel Bridge, and Vande Bharat trains as examples of nationwide development.

RECENT NEWS

• In March 2025, The Tamil Nadu government’s decision to replace the Indian Rupee symbol (₹) with the Tamil letter ‘ரூ’ in the state budget logo reignited the language debate in India.
• In January 2025, In a significant announcement marking the centenary of the discovery of the Indus Valley Civilisation, Tamil Nadu Chief Minister M.K. Stalin has pledged a $1 million prize for experts or organizations that succeed in deciphering the mysterious Indus Valley script.

Digital Threat Report 2024 for Banking, Financial Services, and Insurance Sector Launched – Strengthening Cyber Resilience

• A landmark cybersecurity initiative was launched through collaboration between CERT-In (under MeitY), CSIRT-Fin, and SISA, a global cybersecurity company, with the unveiling of the Digital Threat Report 2024 focused on the Banking, Financial Services, and Insurance (BFSI) sector.

Report Launch

• Launched by:
  • Shri M. Nagaraju, Secretary, Department of Financial Services, Ministry of Finance
  • Shri S. Krishnan, Secretary, Ministry of Electronics and IT
  • Dr. Sanjay Bahl, Director General, CERT-In
  • Dharshan Shanthamurthy, Founder & CEO, SISA

Key Themes and Insights

1. Importance of Cybersecurity in BFSI

• Cybersecurity is now a foundation of financial stability, not just a safeguard.
• Growing digital transactions in India’s BFSI sector increase vulnerability to cyberattacks.
• Projected digital payments market: $3.1 trillion by 2028 (35% of total banking revenues).

2. Collaborative Cyber Defense Strategy

• CERT-In and CSIRT-Fin collaborate with regulators and industry for coordinated responses.
• Emphasis on intelligence-sharing and real-time threat detection.

3. Multi-Dimensional Analysis

• The report integrates:
  • SISA’s forensic intelligence
  • CERT-In’s cybersecurity expertise
  • CSIRT-Fin’s financial incident response insights
• Covers adversarial tactics, system vulnerabilities, and sector-wide security gaps.

4. Practical Recommendations

• Actionable suggestions for BFSI entities to strengthen people, process, and technology layers.
• Focus on preventive and detective measures to enhance cyber resilience.

5. Strategic Vision

• Aims to build long-term resilience against:
  • AI-driven threats
  • Sophisticated fraud schemes
  • Complex regulatory challenges
• Supports BFSI institutions in preparing for both current and emerging threats.
• proof resilience.

About SISA

• A global cybersecurity firm focused on digital payments security.
• Operates in over 40 countries, serving 2,000+ clients.
• Specializes in forensics-driven, preventive, and detective cybersecurity solutions.

Ministry of Statistics and Programme Implementation Launches Revamped Microdata Portal and AI-Based Statistical Tools

• During the Conference of State Government Ministers, the Ministry of Statistics and Programme Implementation (MoSPI) launched several key digital initiatives aimed at enhancing India’s official statistical system.

1. Revamped Microdata Portal

• URL: https://microdata.gov.in
• Developed in collaboration with the World Bank Technology Team.
• Serves as a centralized repository for microdata from national surveys and economic censuses.
• Features a modern and scalable technology stack, improved data access mechanisms, and is responsive and secure.
• Overcomes previous portal’s limitations by integrating advanced technologies for better user experience.

2. National Statistical System Training Academy (NSSTA) Website

• URL: nssta.gov.in
• Developed in-house by MoSPI’s Data Informatics & Innovation Division.
• Provides centralized access to capacity building resources of the ministry.
• Aims to support statistical training and knowledge sharing among officials and stakeholders.

3. AI/ML-Based NIC Classification Tool (Proof of Concept)

• Uses Natural Language Processing (NLP) to classify entries into the correct National Industrial Classification (NIC) codes.
• Suggests the top five relevant NIC codes based on text input.
• Reduces manual effort, improves enumerator productivity, and ensures more accurate data collection.
• Result of a recent Hackathon organized by MoSPI.

CURRENT AFFAIRS: INTERNATIONAL NEWS

Bangladesh’s inward remittance surge rakes in record $3.29bn in March

• Bangladesh received a record-high of US$3.29 billion in inward remittances in March 2025 – the highest monthly inflow in the country’s history.
• According to the Bangladesh Bank (BB), the remittance inflows in March marked a 64.7% year-on-year growth, up from $1.99 billion in March 2024.
• During the first nine months (July–March) of the fiscal year 2024–25, expatriates sent $21.77 billion in remittances.
• This is significantly higher than the $17.07 billion received during the same period of the previous fiscal year (2023–24).
• Due to this surge, the country’s gross foreign currency reserves have increased to $25.63 billion, as per Bangladesh Bank.
• However, using the IMF’s BPM6 methodology (Balance of Payments and International Investment Position Manual), Bangladesh’s net reserves are currently at $20.46 billion, reports Bangladesh Sangbad Sangstha (BSS).

Recent News:

• In February 2025, Bangladesh launched “Operation Devil Hunt” to target loyalists of former PM Sheikh Hasina after attacks on protesters by alleged pro-Hasina gangs.

About Bangladesh:

• Capital: Dhaka.
• Currency: Bangladeshi Taka (BDT).
• President: Mohammad Shahabuddin

Saudi Arabia bans visas for 14 countries, including India, ahead of Hajj

• Saudi Arabia has imposed new travel restrictions, suspending the issuance of Umrah, business, and family visit visas to individuals from 14 countries, including Bangladesh, Pakistan, and India.
• The restriction comes amid efforts to minimise congestion ahead of and during the Hajj pilgrimage.

Key Highlights:

• According to reports, the ban will remain in effect until mid-June, coinciding with the end of the Hajj season.
• The 14 nations affected by the visa suspension are Algeria, Bangladesh, Egypt, Ethiopia, India, Indonesia, Iraq, Jordan, Morocco, Nigeria, Pakistan, Sudan, Tunisia, and Yemen.
• As per the reports, the measure aims to address overcrowding and safety issues during the annual Islamic pilgrimage.
• The Saudi authorities have set April 13, 2025, as the deadline for awarding Umrah visas, with no new visas granted to nationals of the stated nations until after Hajj.
• According to the Saudi Ministry of Hajj and Umrah, this step is a logistical response to provide a safer and more organised pilgrimage, and it has nothing to do with diplomatic issues.
• The registered pilgrims can continue as planned because diplomatic visas, residency permits, and Hajj-specific visas remain unaffected, as per the reports.
• The Saudi authorities have reportedly threatened to ban individuals from entering the country for five years if they do the Hajj without authorisation or overstay their permitted duration.
• India is on the list due to documented cases of visa misuse by a few nationals seeking irregular Hajj participation, which Saudi Arabia hopes to address with this temporary visa restriction impacting 14 nations.
• This visa ban comes after Saudi Arabia temporarily banned one-year multiple-entry visas indefinitely and restricted travel from these 14 nations to single-entry visas valid for 30 days beginning in February 2025.

About Saudi Arabia:

• Capital: Riyadh
• Currency: Saudi Riyal (SAR)
• Crown Prince: Mohammed bin Salman

CURRENT AFFAIRS: STATE NEWS

Tamil Nadu set to become ‘Numero uno’ with maximum Geographical Indication (GI) tags

• ​6 more products unique to Tamil Nadu were accorded the Geographical Indication (GI) tag by the GI Registry, taking the total number of GI products in the state to
• Tamil Nadu has the second highest number of GI products, next only to Uttar Pradesh, which has 79 products in its kitty.

Key Highlights:

• The latest GI products are: Panruti Palappazham (Panruti Jackfruit), Panruti Cashew, Puliyankudi Acid Lime, Virudhunagar Samba Vathal (dried red chillies), Chettikulam Small Onion (shallots) and Ramanadu Chithiraikar Rice.
• The central region of Tamil Nadu significantly contributes to this achievement, with Thanjavur district alone accounting for 11 GI-tagged products.
• Notable items from this region include the Thanjavur Netti Works and Nachiarkoil Kuthuvilakku.
• Intellectual Property Rights Attorney Sanjai Gandhi has played a pivotal role in this endeavor, assisting in securing GI tags for 54 products over two decades.
• In the 2025-26 agricultural budget, an allocation of ₹15 lakh was made to secure GI tags for five additional agricultural products: Nallur Varagu (Cuddalore), Vedharanyam Mullai (Nagapattinam), Natham Puli (Dindigul), Ayakudi Koyya (Dindigul), and Kappalpatti Karumbu Murungai (Dindigul). ​
• Recent additions to Tamil Nadu’s GI list include the Chedibutta cotton sarees from Tirunelveli, ‘Matti’ banana from Kanyakumari, and Jaderi Namakatti from Tiruvannamalai.
• These recognitions not only celebrate the state’s rich cultural heritage but also enhance marketability and export potential for these unique products. ​
• With continued efforts and government backing, Tamil Nadu is on track to lead the nation in GI-tagged products, thereby promoting its diverse and rich cultural heritage on both national and international platforms.​

Recent News:

• As of April 2025, Tamil Nadu has achieved the highest real economic growth rate in India for the year 2024-25,the state grew at a rate of 9.69%, which is the best in the country and also the highest for Tamil Nadu in the past 10 years.

About Tamil Nadu:

• Capital: Chennai
• Chief Minister: M. K. Stalin
• Governor: R. N. Ravi
• National Parks: Mudumalai National Park, Mukurthi National Park, Gulf of Mannar Marine National Park, Indira Gandhi (Anamalai) National Park, Guindy National Park
• Wildlife Sanctuaries: Vedanthangal Bird Sanctuary, Vettangudi Bird Sanctuary, Kalakad Wildlife Sanctuary, Sathyamangalam Wildlife Sanctuary, Vallanadu Wildlife Sanctuary, Megamalai Wildlife Sanctuary, Point Calimere Wildlife Sanctuary

Kannadippaya gets GI tag, anchoring tribal craft on global map

• Kannadippaya, a unique tribal handicraft from Kerala, has received the Geographical Indication (GI) tag, ensuring market protection and a global platform for this traditional product.
• The GI tag has been awarded to the Unarvu Pattikavargha Vividodesha Sahakarana Sangam, Venmani, and the Vanasree Bamboo Craft & Vanavibhava Shekarana unit, Moolakkad, Uppukunnu, both located in Idukki district.

Key Highlights:

• The recognition makes Kannadippaya the first tribal handicraft product from Kerala to receive the GI tag.
• The product derives its name (literally meaning mirror mat) from its unique reflective pattern.
• Made from the soft inner layers of reed bamboo, the mat stands out for its distinctive properties — providing warmth during winter and a cooling effect in summer.
• The craft is primarily preserved by the Oorali, Mannan, Muthuva, Malayan, and Kadar tribal communities and also by the Ulladan, Malayarayan, and Hill Pulaya artisans in Idukki, Thrissur, Ernakulam, and Palakkad districts.
• The best-quality Kannadippaya is woven from reed bamboo (Teinostachyum wightii), locally known as Njoonjileetta, Njoojoora, Ponneetta, Meieeta, and Neytheetta. Other bamboo species like Ochlandra sp. (called Kareetta, Pereetta, Velleeta, Chitoora, and Kanjoora) are also used.
• Historical records suggest that Kannadippaya was once presented to kings by the tribal communities as a mark of honour.
• The Kerala Forest Research Institute (KFRI) played a crucial role in securing the GI tag for Kannadippaya, with former director Shyam Visvanathan and senior scientist A.V. Raghu played a key role. R. Elsy, former head of the Intellectual Property Rights (IPR) cell at the Kerala Agricultural University, spearheaded the initiative.
• The recognition will empower tribal artisans, opening doors for them to become entrepreneurs and market their product independently.

Recent News:

• In April 2025, Kerala Football Association (KFA) honoured former India captain I M Vijayan who was awarded Padma Shri this year.

About Kerala:

• Chief Minister: Pinarayi Vijayan
• Governor: Rajendra Vishwanath Arlekar
• Capital: Thiruvananthapuram
• National Parks: Eravikulam National Park, Periyar Wildlife Sanctuary, Silent Valley National Park, Parambikulam Tiger Reserve
• Wildlife Sanctuaries: Wayanad Wildlife Sanctuary, Idukki Wildlife Sanctuary, Chilika Lake Wildlife Sanctuary

CURRENT AFFAIRS: AWARDS AND HONOURS

Indian sand artist Sudarsan Pattnaik Wins First Fred Darrington Award for Excellence in Art and Culture

• Indian sand artist Sudarsan Pattnaik became the first recipient of the Fred Darrington Award for Excellence in Art and Culture.
• The award was presented at SandWorld in Dorset, UK, to mark 100 years since the first sand sculpture by Fred Darrington on Weymouth Beach in 1925.

Key Facts:

• Awarded for: A 10-feet-tall sand sculpture of Lord Ganesha with the message “World Peace.”
• Exhibition: Displayed at SandWorld until November 2025.
• Recognition: Pattnaik received a gold medal (featuring Darrington’s caricature) and a glass wave containing sand from his sculpture.
• Cultural Impact: He is the first Indian artist to exhibit at SandWorld.

About the Award:

• Named after Fred Darrington, a legendary British sand sculptor.
• Instituted to recognize global excellence in sand art.
• Presented by Mark Anderson, Darrington’s grandson and co-founder of SandWorld.

Additional Highlights:

• State Recognition: Odisha CM Mohan Charan Majhi congratulated Pattnaik.
• Legacy: Pattnaik dedicated the award to his fans, highlighting India’s cultural message of peace on the global stage.

GAIL Wins PPAC Greenfinch Data Excellence Award

• GAIL (India) Ltd. was conferred with the “PPAC Greenfinch Data Excellence Award”.
• The award was presented on the occasion of the 24th Foundation Day of the Petroleum Planning and Analysis Cell (PPAC).
• Asim Prasad, Chief General Manager (Corporate Strategy Planning Advocacy & Corporate Affairs), along with the GAIL team, received the award.

Evaluation Criteria:

• Public and private sector companies were assessed based on a holistic framework, which included:
  • Data Quality of submissions,
  • Assurance Practices,
  • Data Excellence Metrics,
  • Availability & Accessibility of Data,
  • Data Security,
  • IT Infrastructure,
  • Future Readiness,

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Viral Davda Appointed as Deputy Chief Information Officer at Bombay Stock Exchange

• Viral Davda, a professional with more than 20 years of experience, has been appointed as Deputy Chief Information Officer (CIO) at Bombay Stock Exchange Limited (BSE).
• This is a major career milestone for him and signifies how BSE is committed to advancing its technology setup to keep pace with changing market needs.
• Davda brings a wealth of experience from his tenure at the National Commodity & Derivatives Exchange Limited (NCDEX), where he held various senior leadership roles over 15 years.
• Recently, he served as Chief Technology Officer (CTO) since April 2021.
• At NCDEX, Davda led many change-making projects, such as transitioning systems to hybrid cloud environments and adopting innovative solutions to improve operational effectiveness.
• His work was recognized with the “CTO of the Year” award in the NBFC category at the 2022 BFSI Technology Excellence Awards.
• At BSE, Davda will be utilizing his extensive experience in technology strategy, innovation, and project management to spearhead IT infrastructure developments.

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

Meta releases two Llama 4 AI models

• Meta has launched the Llama 4 family of AI models, which now power Meta AI across WhatsApp, Messenger, Instagram, and the web.
• There are two released models:
  • Llama 4 Scout – a compact model that can run on a single Nvidia H100 GPU, with a 10-million-token context window.
  • Llama 4 Maverick – a larger model, positioned as a competitor to GPT-4o and Gemini 2.0 Flash.
• A third model, Llama 4 Behemoth, is still in training:
  • Has 288 billion active parameters and 2 trillion total parameters.
  • Meta claims it outperforms GPT-4.5 and Claude Sonnet 3.7 on STEM benchmarks.
• Scout beats Google’s Gemma 3, Gemini 2.0 Flash-Lite, and Mistral 3.1 in benchmarks while being lightweight.
• Maverick rivals GPT-4o, Gemini Flash, and even DeepSeek-V3 in coding and reasoning tasks, with fewer active parameters.
• Meta has adopted the Mixture of Experts (MoE) architecture:
  • Only activates parts of the model needed for a given task, saving compute resources.

CURRENT AFFAIRS: MOUS AND AGREEMENT

India–Sri Lanka Sign First-Ever Defence Cooperation Pact

• India and Sri Lanka signed a historic defence cooperation pact during PM Narendra Modi’s visit to Colombo, marking a major milestone in bilateral relations.
• This is the first such defence agreement between the two nations, coming nearly four decades after the Indian Peace Keeping Force (IPKF) was deployed in Sri Lanka.
• PM Modi met Sri Lankan President Anura Kumara Dissanayake, and both leaders emphasized shared strategic interests in security, development, and regional stability.

Key Highlights

1. Defence Cooperation (Landmark Pact)

• First framework MoU on Defence Cooperation
• Covers joint military exercises, training programmes, and high-level defence exchanges.
• PM Modi reiterated India’s security concerns, while President Dissanayake assured that Sri Lankan soil will not be used against India.
• Reinforces the principle of shared regional security.

2. Energy & Infrastructure

• Sampur Power Project:
  • Groundbreaking ceremony conducted virtually.
  • Aims to improve Sri Lanka’s energy security.
• Trincomalee Energy Hub:
  • Tripartite MoU: India–Sri Lanka–UAE.
  • Development of a multi-product energy pipeline.
• Grid Interconnectivity MoU:
  • Connects the electricity grids of both countries.
  • Facilitates power trade and potential exports.

3. Digital Transformation

• MoU signed for sharing India’s digital governance platforms.
• Intended to accelerate Sri Lanka’s digital transformation journey.

4. Renewable Energy

• Rooftop Solar Project:
  • Installation of 5,000 religious institutions.
  • Funded by $17 million Indian credit.
  • Expected to generate 25 MW of clean energy.
  • Inclusive of Hindu, Buddhist, Christian, and Muslim places of worship.

5. Healthcare & Pharmaceuticals

• MoU between:
  • Ministry of Health & Family Welfare, India, and
  • Ministry of Health & Mass Media, Sri Lanka.
  • Focus: Healthcare services and medicine access.
• Separate MoU:
  • Indian Pharmacopoeia Commission and
  • Sri Lanka’s National Medicines Regulatory Authority.
  • Focus: Cooperation in pharmacopoeial standards.

6. Regional Development Assistance

• India announced a ₹2.4 billion package for the development of Sri Lanka’s Eastern Province.
• Focus on social welfare, education, and economic upliftment.

RECENT NEWS

• In March 2025, The Lanka India Business Association (LIBA) was officially launched in Sri Lanka to enhance economic collaboration between India and Sri Lanka.

CURRENT AFFAIRS: RANKING AND INDEX

India Ranks 10th Globally in Private AI Investment: UN Report

• India has made a significant leap in artificial intelligence (AI), securing the 10th position globally in terms of private AI investment in 2023, according to a recent United Nations (UN)
• This development marks India as one of the few developing countries with major AI funding, alongside China.

Key Highlights

AI Investment and Global Ranking

• India secured ₹11,943 crore (US$ 1.4 billion) in private AI investment in 2023.
• It is one of only two developing nations (alongside China) with substantial AI funding.
• Reflects India’s growing influence in the global AI landscape.

UNCTAD Readiness for Frontier Technologies Index

• India’s ranking improved from 48th in 2022 to 36th in 2024 (out of 170 countries).
• Index evaluates readiness for technologies such as AI, robotics, IoT, and nanotech.

Component-wise 2024 Rankings:

• ICT Deployment: 99th
• Skills: 113th
• Research & Development (R&D): 3rd
• Industrial Capacity: 10th
• Financial Access: 70th

Global Leaders in AI Investment (2023)

• United States: ₹5,71,577 crore (US$ 67 billion)
• China: ₹66,541 crore (US$ 7.8 billion)

Economic Potential of AI

• Projected global economic impact of AI is ₹4,09,48,800 crore (US$ 4.8 trillion) by 2033.
• AI is expected to revolutionize key sectors such as healthcare, manufacturing, logistics, and finance.

Key Challenges and Concerns

• Job Displacement: AI-driven automation may put 40% of global jobs at risk.
• Corporate Dominance: 100 global companies (mainly in the US and China) control 40% of corporate AI R&D, leading to potential monopolization.

India’s Strengths and Strategic Focus

• India has 13 million software developers, second only to the US (as per GitHub activity).
• The India AI Mission and IIT-based research centers are advancing national AI development.
• India is also showing strength in nanotechnology and other emerging technologies.

Competition in Frontier Technologies

• Germany leads in wind energy.
• Japan is ahead in electric vehicles (EVs).
• South Korea excels in 5G wireless networks.

CURRENT AFFAIRS: SPORTS NEWS

First-Ever Gold for India: Hitesh Triumphs at World Boxing Cup, India Wins Six Medals

• India marked a strong entry at the World Boxing Cup 2025, held in Foz Do Iguacu, Brazil, by securing six medals in their debut participation.
• In a momentous occasion for Indian boxing, Hitesh scripted history by becoming the first Indian to clinch a gold medal at the World Boxing Cup in Brazil 2025.
• The event was organized by the newly-formed World Boxing

Key Highlights

1. First-Ever Gold for India

• Hitesh Gulia created history by becoming the first Indian boxer to win a gold medal at the World Boxing Cup.
• He was declared the winner in the 70 kg final after his opponent, Odel Kamara (England), withdrew due to injury.
• Hitesh credited his success to a 10-day training camp in Brazil, which helped improve his tactical approach.

2. Silver Medal

• Abhinash Jamwal won silver in the 65 kg category.
• He lost to Brazil’s Yuri Reis in a closely contested bout.

3. Bronze Medalists

• Jadumani Singh Mandengbam – 50 kg category
• Manish Rathore – 55 kg category
• Sachin – 60 kg category
• Vishal – 90 kg category

4. Overall Performance

• India sent a 10-member boxing contingent to this elite-level competition.
• The team returned with 1 Gold, 1 Silver, and 4 Bronze medals.
• The event marked India’s first major international outing post the Paris Olympics.

Rudrankksh Patil Wins Gold at ISSF World Cup 2025 – Buenos Aires

• Rudrankksh Balasaheb Patil won the gold medal in the men’s 10m air rifle event with a final score of 252.9.
• This was his second individual ISSF World Cup gold, after his 2023 win in Cairo.
• Hungary’s Istvan Marton Peni won silver (251.7), and Argentina’s Marcelo Julian Gutierrez took bronze (230.1).

Other Indian Performances:

• Arjun Babuta:
  • Topped the qualification with 634.5.
  • Finished 7th in the final (144.9 points).
  • Missed podium again after finishing 4th at Paris 2024 Olympics.
• Kiran Ankush Jadhav:
  • Scored 631.5 in qualification.
  • Did not compete in the final (participated under Ranking Points Only – RPO).
• Divyansh Singh Panwar (RPO): 19th in qualification (628.0).
• Hriday Hazarika: 29th place with 624.6.

India’s Medal Count at Buenos Aires (So Far):

1. Gold Medals:
   • Rudrankksh Patil – Men’s 10m Air Rifle.
   • Sift Kaur Samra – Women’s 50m Rifle 3 Positions.
2. Silver Medal:
   • Esha Singh – Women’s 25m Pistol.
3. Bronze Medal:
   • Chain Singh – Men’s 50m Rifle 3 Positions.

• India is currently jointly leading the medal table with China (2 gold, 1 silver, 1 bronze).
• USA also has 2 golds but placed third.
• A total of 8 more finals remain in the tournament.

Daily CA One- Liner : April 8

• Prime Minister Narendra Modi visited Rameswaram, Tamil Nadu, marking a significant milestone with the inauguration and foundation laying of infrastructure projects worth over ₹8,300 crore.
• A landmark cybersecurity initiative was launched through collaboration between CERT-In (under MeitY), CSIRT-Fin, and SISA, a global cybersecurity company, with the unveiling of the Digital Threat Report 2024 focused on the Banking, Financial Services, and Insurance (BFSI) sector.
• During the Conference of State Government Ministers, the Ministry of Statistics and Programme Implementation (MoSPI) launched several key digital initiatives aimed at enhancing India’s official statistical system.
• Indian sand artist Sudarsan Pattnaik became the first recipient of the Fred Darrington Award for Excellence in Art and Culture.
• GAIL (India) Ltd. was conferred with the “PPAC Greenfinch Data Excellence Award”.
• India and Sri Lanka signed a historic defence cooperation pact during PM Narendra Modi’s visit to Colombo, marking a major milestone in bilateral relations.
• India has made a significant leap in artificial intelligence (AI), securing the 10th position globally in terms of private AI investment in 2023, according to a recent United Nations (UN) report.
• India marked a strong entry at the World Boxing Cup 2025, held in Foz Do Iguacu, Brazil, by securing six medals in their debut participation.
• Rudrankksh Balasaheb Patil won the gold medal in the men’s 10m air rifle event with a final score of 252.9.
• The Government of India is set to implement the ‘One State-One RRB’ plan to enhance operational efficiency and reduce costs by consolidating the number of Regional Rural Banks (RRBs) from 43 to 28.
• In a move to enhance public awareness and promote financial literacy, the Reserve Bank of India (RBI) has launched a verified WhatsApp channel under its ongoing ‘RBI Kehta Hai’ initiative.
• The National Bank for Financing Infrastructure and Development (NaBFID) has extended funding to Welspun One for its 55-acre logistics and warehousing project at the Jawaharlal Nehru Port Authority (JNPA) in Navi Mumbai.
• Securis Finance Pvt. Ltd., a wholly owned subsidiary of FirstPay Technologies, has received approval from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Company (NBFC).
• Bangladesh received a record-high of US$3.29 billion in inward remittances in March 2025 – the highest monthly inflow in the country’s history.
• Saudi Arabia has imposed new travel restrictions, suspending the issuance of Umrah, business, and family visit visas to individuals from 14 countries, including Bangladesh, Pakistan, and India.
• 6 more products unique to Tamil Nadu were accorded the Geographical Indication (GI) tag by the GI Registry, taking the total number of GI products in the state to 69.
• Viral Davda, a professional with more than 20 years of experience, has been appointed as Deputy Chief Information Officer (CIO) at Bombay Stock Exchange Limited (BSE).
• Kannadippaya, a unique tribal handicraft from Kerala, has received the Geographical Indication (GI) tag, ensuring market protection and a global platform for this traditional product.
• Meta has launched the Llama 4 family of AI models, which now power Meta AI across WhatsApp, Messenger, Instagram, and the web.

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