Daily Current Affairs March 18th 2025 | Latest News | Download PDF

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CURRENT AFFAIRS: BANKING & FINANCE

EIL, MECON, 4 others in fray for Reserve Bank of India’s currency management project

• State-owned Engineers India and MECON as well as four private entities are in the fray for the project to comprehensively revamp RBI’s currency management infrastructure in order to cater to future cash needs of the country’s fast growing economy.
• Private entities: Accenture Solutions, Colliers International (India) Property Services, PricewaterhouseCoopers, and The Boston Consulting Group (India)
• The project aims for a comprehensive modernization of RBI’s currency management system to handle future cash demands in India’s fast-growing economy.

Key Highlights :

• As per the EoI document, the scope includes the creation of greenfield currency management centres, implementation of warehouse automation, installation of security and surveillance systems, development of an inventory management system, and establishment of a centralized command centre.
• RBI invited an Expression of Interest (EoI) for consultancy and project management services.
• It received 11 applications, out of which six entities were shortlisted for the next stage—issuance of a Request for Proposal (RFP).
• Currently, banknotes are printed at four presses, and coins are minted at four mints.
• The new banknotes and coins are received at 19 Issue Offices (IOs) across the country and further distributed through 2,800 Currency Chests (CCs) operated by scheduled banks.
• Many central banks face rising costs and security risks due to increasing banknote volumes.
• Countries like Austria, Egypt, France, Germany, Hungary, Indonesia, Japan, Malaysia, and the USA have modernized their currency management infrastructure.
• RBI aims to establish state-of-the-art storage and handling capacity, increase efficiency in currency operations, enhance security standards, and adopt eco-friendly management practices.

Recent News:

• In March 2025, The Reserve Bank of India (RBI) was awarded the Digital Transformation Award 2025 by Central Banking, London, UK.

About RBI :

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

BRISKPE Gets Reserve Bank of India’s In-Principle Nod To Operate As Cross Border Payment Aggregator

• BRISKPE has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a payment aggregator for cross-border (PA-CB)
• The approval allows the company to facilitate both export and import payments under the Payment and Settlement Systems Act, 2007.
• The authorisation aligns with the RBI’s updated regulatory framework introduced in October 2023.
• The company aims to support micro, small, and medium enterprises (MSMEs) engaged in international trade.
• BRISKPE stated that the approval will enable it to provide seamless solutions for businesses facing inefficiencies in international payments.
• BRISKPE currently processes around 10,000 export service transactions per month.
• The company expects transaction volume to increase to 100,000 per month by the end of the next financial year.
• BRISKPE introduced a unified cross-border payment platform that integrates account-to-account transfers with card collections.
• The platform is powered by PayU and PayPal and caters to exporters, service providers, marketplace sellers, and freelancers.
• Established in 2023, BRISKPE secured $5 million in seed funding from PayU India in April 2024.
• The platform allows users to receive funds in six major currencies: USD, CAD, AUD, Singapore Dollar, GBP, and Euro.

What is a Payment Aggregator?

• Online payment aggregators are companies that facilitate online payments by acting as intermediaries between the customer and the merchant.
• The RBI introduced Guidelines for Regulating PAs and Payment Gateway in March 2020.

Recent News:

• In February 2025, Easebuzz received final authorization from the RBI to operate as an online payment aggregator, joining players like Razorpay and Google Pay.

CURRENT AFFAIRS: NATIONAL NEWS

10th National Conference on Economics of Competition Law Held in New Delhi

• The Competition Commission of India (CCI) organized the 10th National Conference on Economics of Competition Law in New Delhi.
• The event, held annually since 2016, brought together scholars, practitioners, and experts to discuss key developments in competition law and market dynamics.

Key Highlights

• Shri Harsh Malhotra, Minister of State (Corporate Affairs & Road Transport and Highways), delivered the Keynote Address, emphasizing the role of competition law in ensuring fair markets.
• Ravneet Kaur, Chairperson, CCI, highlighted the need for regulators to adapt to technological advancements such as Artificial Intelligence (AI) and algorithmic collusion to ensure market integrity.
• India’s MSME sector plays a vital role in economic growth, contributing 80% of manufacturing output, 45% of exports, and 30% of GDP.
• Emphasized real-time market monitoring, self-regulation, and compliance rather than strict intervention.

Technical & Plenary Sessions

• Session 1: Digital Dynamics: Markets, Competition & Innovation – Chaired by Nishant Chadha, ISB.
• Session 2: Exploring Mergers: Structure, Competition, and Synergy – Chaired by Uday Bhanu Sinha, Delhi School of Economics.
• Plenary Session: Settlement & Commitment – A New Era of Trust-Based Market Correction – Moderated by Shri Prasanto Kumar Roy, FTI Consulting.

India’s Participation in the 353rd International Labour Organisation Governing Body Meeting

• India actively participated in the 353rd Governing Body Meeting of the International Labour Organisation (ILO) held in Geneva, Switzerland (March 10-20, 2025).
• The Indian delegation, led by Sumita Dawra, Secretary, Ministry of Labour and Employment, highlighted India’s achievements in social protection, fair migration, living wages, and responsible business conduct.
• India reaffirmed its commitment to labour welfare, social justice, and quality employment generation, while supporting ILO’s key global initiatives.

Key Highlights of India’s Participation

1. India’s Interventions on Key Labour Issues

• Advocated for social protection, responsible business conduct, living wages, AI, and the future of work.
• Supported ILO’s Fair Migration Agenda, promoting skills-based migration pathways.
• Showcased India’s progress in social protection, achieving 48.8% coverage (5% higher than the global average).
• Highlighted key welfare initiatives:
  • EPFO – 7.37 crore members
  • ESIC – 14.4 crore beneficiaries
  • e-Shram Portal – 30.6 crore unorganized workers
  • PM Jan Arogya Yojana – 60 crore beneficiaries
  • Targeted PDS – 81.35 crore beneficiaries

2. India’s Support for ILO’s Global Initiatives

• Backed the Second World Summit for Social Development in Doha, Qatar.
• Extended support for the first Tripartite Global Forum on Migration.
• Reaffirmed commitment to the Global Framework on Chemicals and Waste Management.
• Highlighted India’s Factories Act, 1948 and Occupational Safety, Health and Working Conditions Code, 2020 for worker safety.

3. Bilateral Engagement with ILO Leadership

• Sumita Dawra met ILO Director-General Mr. Gilbert F. Houngbo and congratulated him on the Global Coalition for Social Justice initiative.
• Discussed India’s State-Specific Data Pooling exercise for accurate social protection coverage.
• India’s first-ever voluntary financial support to ILO for the International Reference Classification of Occupations was appreciated.
• Future collaborations discussed living wages, gig workers’ welfare, and decent work in value chains.

4. India’s Key Contributions Recognized by ILO

• Hosting of the Regional Dialogue on Social Justice (New Delhi, 2024).
• Leading the “Responsible Business for Sustainable and Inclusive Societies” initiative.
• Supporting the feasibility study on international classification of occupations under India’s G20 presidency.

IIT Madras Hyperloop Facility to Become the World’s Longest High-Speed Tube

• Union Minister Ashwini Vaishnaw visited the Hyperloop testing facility at IIT Madras.
• The 410-meter-long Hyperloop tube will be the world’s longest high-speed tube.
• The Indian Railways Ministry is providing funding and technical support.
• Integral Coach Factory (ICF) Chennai is developing electronic technology for the Hyperloop system.

India’s Push for Next-Gen High-Speed Transport

Hyperloop Technology Advancements:

• Uses magnetically levitated pods traveling through a near-vacuum tube, reducing air resistance and friction.
• Supported by Indian Railways, marking a major step in modern transportation infrastructure.
• ICF Chennai, known for Vande Bharat trains, is leading the development of advanced electronic systems for Hyperloop.

Union Minister Attends IIT Madras’ Open House 2025 Innovation Exhibition

• Open House 2025 showcased cutting-edge projects in engineering, AI, data science, and emerging technologies.
• V. Kamakoti, Director of IIT Madras, was present at the event.
• Vaishnaw engaged with students, faculty, and innovators, praising their research contributions.

India’s Rapid Strides in Semiconductor Manufacturing

Major Announcements:

• Five semiconductor fabrication units (fabs) are operational in India.
• India’s first domestically manufactured semiconductor chip to launch by the end of the year.
• Self-reliance in electronics manufacturing is crucial for telecom, defense, and AI industries.

CURRENT AFFAIRS: INTERNATIONAL NEWS

India, New Zealand resume talks on free trade agreement after nearly a decade

• India and New Zealand have announced the resumption of Free Trade Agreement (FTA) negotiations, a decade after talks stalled in
• Discussions on the Comprehensive Economic Cooperation Agreement (CECA) began in April 2010 to enhance trade in goods, services, and investment.
• However, negotiations halted after nine rounds in 2015.
• Both nations have now agreed to relaunch talks, aiming for a comprehensive and mutually beneficial agreement.
• The Ministry of Commerce stated that the India-New Zealand FTA negotiations seek to:
• Achieve balanced trade outcomes
• Improve market access
• Strengthen supply chain integration
• Foster economic resilience and prosperity
• The decision precedes a bilateral meeting between Prime Minister Narendra Modi and New Zealand PM Christopher Luxon, who is on a four-day visit to India.
• The announcement followed a March 16, 2025, meeting between India’s Commerce and Industry Minister Piyush Goyal and New Zealand’s Minister for Trade and Investment Todd McClay.

Ancient Desert Crossroads: Faya Site Reveals Humanity’s 210,000-Year Desert Adaptation

• Sharjah’s Faya Palaeolandscape has been nominated for UNESCO World Heritage status, showcasing 210,000 years of human resilience and adaptation while serving as a vital trade link between Arabia and India.
• The 29,085-hectare site, located 55 km from the Arabian Gulf and the Gulf of Oman, features the Faya Range, a 20-km limestone ridge that acts as a natural barrier between the Rub’ al-Khali desert and the Dhaid-Madam Plain.
• Evidence of human habitation during hyper-arid climate phases makes Faya unique.
• Archaeological and environmental data confirm that early settlers adapted to extreme desert conditions, a phenomenon unparalleled globally.
• The site contains three distinct rock layers dating back 93 to 66 million years, formed due to tectonic collisions between the Arabian and Eurasian plates.
• These formations provided flint for tool-making and enabled the formation of life-sustaining springs during wetter periods.
• Climate fluctuations every 20,000 years impact human occupation.
• Around 70,000 years ago, the onset of the last glacial period forced people to leave, but they returned with enhanced survival strategies like increased mobility.
• Faya’s archaeological record spans 18 phases, from the Early Middle Palaeolithic to the Neolithic period.
• Excavations have uncovered stone tools, human and animal bones, jewelry, hearths, and burial sites, documenting humanity’s shift from hunter-gatherers to pastoral nomads.
• Faya was a key hub in ancient trade networks, with strong ties to India, Mesopotamia, and the Indus Valley Civilization.
• Discoveries include:
• Indian cooking pots
• Ivory artifacts
• Coins featuring Shiva
• Coin moulds similar to those found in India, indicating economic and political ties

CURRENT AFFAIRS: BUSINESS NEWS

India’s Wholesale Inflation Rises to 2.38% in February 2024

• Wholesale Inflation Rate: Increased to 2.38% in February, up from 2.31% in January, 2025.
• Major Contributors: Inflation rise driven by manufactured food products, textiles, and non-food articles.
• Food Index Decline: Dropped from 7.47% in January to 5.94% in February, providing some relief.
• Historical Trend: WPI inflation was in double digits for 18 months until September 2022, later declining, briefly turning negative in April 2023 and July 2020.

Understanding Wholesale Inflation and WPI

• Wholesale Price Index (WPI): Measures inflation at the wholesale level, tracking price movements before goods reach consumers.
• Difference from CPI: Unlike the Consumer Price Index (CPI), which reflects retail prices, WPI focuses on manufacturing and wholesale trends.
• Economic Significance: Helps policymakers, businesses, and analysts assess cost pressures and forecast retail inflation trends.

Key Highlights :

Factors Influencing Wholesale Inflation in February

1. Rising Prices in Key Sectors

• Manufactured Food Products: Price hikes due to higher raw material costs and supply chain issues.
• Primary Food Articles: Despite a decline in the Food Index, cereals and pulses saw price increases.
• Textiles: Higher input costs led to inflationary pressure.
• Non-Food Articles: Cotton, oilseeds, and rubber witnessed price fluctuations.

2. Decline in Food Inflation

• Vegetables, fruits, edible oils, and fats saw a price correction, leading to a drop in the Food Index from 7.47% to 5.94%.

3. Impact of Monetary Policy

• Repo Rate at 6.5%: The RBI had maintained a high repo rate for nearly five years to control inflation.
• Recent Cut by 25 Basis Points: The RBI reduced the repo rate to boost economic growth and consumption.
• Future Impact: Could influence wholesale and retail inflation trends.

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

Chandrayaan-5 Mission approved: India and Japan to collaborate on lunar exploration

• The Centre has approved the Chandrayaan-5 mission, which will study the Moon, ISRO Chairman V. Narayanan
• Speaking at an event in Bengaluru, Narayanan stated that unlike the Chandrayaan-3 mission, which carried a 25-kg rover (Pragyan), the Chandrayaan-5 mission will carry a 250-kg rover to conduct an in-depth study of the lunar surface.
• The Chandrayaan missions focus on lunar surface exploration:
  1. Chandrayaan-1 (2008): Conducted chemical, mineralogical, and photo-geologic mapping of the Moon.
  2. Chandrayaan-2 (2019): Achieved 98% mission success, though the lander Vikram could not complete its final descent. However, its high-resolution camera continues to send images.
  3. Chandrayaan-3 (2023): Successfully demonstrated soft-landing on the Moon’s south pole on August 23, 2023.
• Narayanan confirmed that Chandrayaan-5 will be conducted in collaboration with Japan.
• The upcoming Chandrayaan-4 mission (expected launch in 2027) will focus on bringing lunar samples back to Earth.
• ISRO is also working on future projects such as Gaganyaan (India’s human spaceflight program) and the Bharatiya Space Station, which aims to establish India’s own space station.

Recent News:

• In March 2025, ISRO successfully conducted the flight acceptance hot testing of the cryogenic engine identified for the sixth operational mission of LVM3 launch vehicle (LVM-M6) at Isro Propulsion Complex, Mahendragiri in Tamil Nadu.

About ISRO:

• Established: 1958
• Headquarters: New Delhi, India
• Chairman: V. Narayanan

Department of Telecommunications (dot), Unveils 5G innovation Hackathon 2025 with ₹1.5 crore Budget

• Organized by the Department of Telecommunications (DoT), the 5G Innovation Hackathon 2025 is a six-month initiative aimed at developing advanced 5G-powered solutions for societal and industrial challenges.
• Open to students, startups, and professionals, the hackathon provides mentorship, funding, and access to over 100 5G Use Case Labs, enabling participants to develop scalable technologies.
• Key focus areas include AI-driven network maintenance, IoT solutions, 5G broadcasting, smart health, agriculture, industrial automation, non-terrestrial networks (NTN), D2M, V2X, and quantum communication.
• The winner will receive ₹5,00,000, the first runner-up ₹3,00,000, and the second runner-up ₹1,50,000.
• Special recognitions of ₹50,000 each will be awarded for the Best Idea and Most Innovative Prototype.
• Additionally, 10 labs will receive Certificates of Appreciation, and one institute will be recognized for presenting the Best Idea from an Emerging Institute.
• The hackathon consists of three stages.
• In the proposal submission phase (March 15 – April 15, 2025), institutions can recommend up to five proposals, which will be shortlisted by regional committees.
• During the regional shortlisting phase, 150-200 teams will refine their ideas, and 25-50 teams will receive ₹1,00,000 each in seed funding to develop prototypes with mentorship and access to 5G labs.
• In the final evaluation stage (September 2025), teams will present their prototypes to a panel of government, academic, and industry experts, who will assess them based on technical execution, scalability, impact, and novelty.
• The final winners will be announced on October 1, 2025, with top teams showcasing their innovations at the India Mobile Congress (IMC) 2025.
• Supported by a ₹1.5 crore budget, the hackathon aims to develop over 50 scalable 5G prototypes, generate more than 25 patents, and foster academia-industry-government collaboration, particularly in supporting startups.
• The 5G Innovation Hackathon 2025 seeks to harness the transformative potential of 5G and position India as a global leader in 5G-driven solutions.

RECENT NEWS

• In February 2025, The Department of Telecommunications (DoT) and the International Telecommunication Union (ITU) took a significant step in the world of infrastructure planning with the announcement of their partnership.

About Ministry of Communications:

• Cabinet Minister: Shri Jyotiraditya M. Scindia
• Minister of State (MoS): Dr. Chandra Sekhar Pemmasani

India’s first exploration licence auction and AI-driven mineral targeting hackathon launched

• The Ministry of Mines, in collaboration with the Goa government, launched India’s first-ever Exploration Licence (EL) auction, marking a major step in unlocking critical and deep-seated mineral reserves.
• The event was presided over by Union Coal and Mines Minister G. Kishan Reddy and Goa Chief Minister Pramod Sawant.
• It also featured a Roadshow for the fifth tranche of critical mineral block auctions.
• The AI Hackathon 2025 was inaugurated with the theme “Mineral Targeting using Artificial Intelligence”, aimed at leveraging advanced datasets to identify hidden mineral deposits and drive sustainable mining innovation.
• Union Minister G. Kishan Reddy highlighted that India is opening systematic early-stage exploration through a structured and transparent auction process, which will accelerate mineral discovery, attract investors, and support India’s clean energy and industrial goals.
• Key discussions included:
  • Auctioning untapped mining blocks in Goa
  • Reviving dormant mines
  • Addressing expired and lapsed mining leases under Section 10A(2) of the Mines and Minerals (Development and Regulation) Act, 1957
• Updates were provided on:
  • Progress of auctioned mining blocks
  • Ongoing exploration projects
  • Contributions of the Geological Survey of India and Mineral Exploration and Consultancy Ltd
• The event concluded with the auction of 13 exploration license blocks, covering minerals such as Rare Earth Elements (REEs), zinc, diamonds, copper, and Platinum Group Elements (PGEs).
• The transparent bidding process aims to accelerate mineral exploration, encourage private sector participation, and enhance India’s technological and energy independence.

About Ministry of Coal & Mines:

• Cabinet Minister: Shri G. Kishan Reddy
• Minister of State (MoS): Shri Satish Chandra Dubey

CURRENT AFFAIRS: ACQUISITION & MERGERS

Patanjali Ayurved, DS Group to acquire Magma General Insurance for ₹4,500 crore

• Patanjali Ayurved and DS Group will acquire Magma General Insurance for ₹4,500 crore.
• Acquisition is subject to regulatory approvals.
• Magma General Insurance (formerly Magma HDI General Insurance) is majority-owned by Sanoti Properties LLP.
• Sanoti Properties LLP is jointly held by Adar Poonawalla and Rising Sun Holdings Pvt Ltd.
• Magma General Insurance offers over 70 products across multiple insurance categories.
• Reported Gross Written Premium (GWP) of ₹3,295 crore in FY24.
• Expected GWP for FY25: ₹3,650-3,700 crore.
• Profit Before Tax for FY25 estimated at ₹20-25 crore.
• The general insurance sector in India is underpenetrated compared to developed countries.
• The Insurance Regulatory and Development Authority of India (IRDAI) aims for “Insurance for All by 2047.”
• The sector is experiencing reforms, including 100% Foreign Direct Investment (FDI) approval.
• The acquisition marks Patanjali’s entry into the general insurance sector.
• Patanjali plans to leverage its vast distribution network of 200,000 retail outlets, including Reliance Retail, HyperCity, and 250 Patanjali Mega Stores.
• Adar Poonawalla (Chairman, Serum Institute of India) praised Magma General Insurance’s 26% growth rate over the past five years.
• Magma General Insurance has a strong distribution network, including 18,000 agents, 2,000 corporates, and partnerships with 14 major OEMs.
• Ambit Pvt. Ltd acted as the financial advisor for the deal.
• Khaitan & Co and Wadia Gandhy & Co served as legal advisors.

CURRENT AFFAIRS: SPORTS NEWS

India Concludes Special Olympics World Winter Games 2025 with 33 Medals

• India concluded its campaign at the Special Olympics World Winter Games 2025 in Turin, Italy, with a total of 33 medals.
• The final day saw India securing 12 more medals, bringing the final tally to:
• 8 Gold
• 18 Silver
• 7 Bronze

India’s Medal-Winning Performance Across Sports

Snowshoeing – A Dominant Display

• Total Medals: 10
• Final Day Achievements:
  • Silver Medals: Vasu Tiwari, Shalini Chauhan, and Tanya (25m Snowshoeing)
  • Bronze Medal: Jahangir (25m Snowshoeing)

India’s four additional medals in this event added to the six won earlier, showcasing strong endurance and skill.

Alpine Skiing – Consistent Excellence

• Total Medals: 10
• Notable Performances:
  • Silver Medals:
    • Radha Devi (Intermediate Slalom, F01 category)
    • Nirmala Devi (Intermediate Slalom, F04 category)
    • Abhishek Kumar (Novice Slalom, M02 category)

The Alpine Skiing team continued to impress with technical proficiency and control.

Cross Country Skiing – Strength and Endurance

• Total Medals: 2
• Bronze Medal: Akriti (100m Classical Technique, F02 category)

Akriti’s performance reflected remarkable endurance in this demanding event.

Floorball – A Team Effort

• Total Medals: 1
• Bronze Medal: Indian Women’s Traditional Floorball Team

The team’s coordination and strategic play earned them a podium finish.

Final Medal Breakdown by Sport

Sport	Total Medals
Snowshoeing	10
Alpine Skiing	10
Snowboarding	6
Short Track Speed Skating	4
Cross Country Skiing	2
Floorball	1

• This was the 12th edition of the Special Olympics Winter Games, happening after a long wait of 8 years.
• This was also the first time that Italy hosted the Special Olympics World Games.

Hockey Jharkhand Wins First-Ever Title at the 15th Hockey India Senior Women National Championship 2025

• Hockey Jharkhand defeated Hockey Haryana in the final at Tau Devi Lal Complex, Panchkula, Haryana.
• Historic Victory: First-ever national title for Hockey Jharkhand.
• Score: 1-1 draw in regulation time, followed by a 4-3 win in the penalty shootout.

Key Moments in the Final

• 42nd Minute: Hockey Haryana’s captain, Rani, scored the opening goal.
• 44th Minute: Pramodni Lakra (Jharkhand) equalized, making it 1-1.
• Penalty Shootout:
  • Hockey Jharkhand scorers: Rajni Kerketta, Nirali Kujur, Binima Dhan, and Captain Alebla Rani Toppo.
  • Hockey Haryana scorers: Pinki, Annu, and Manisha.

History of the Hockey India Senior Women National Championship

Origins and Most Successful Teams

• First Edition: 2011, organized by Hockey India.
• Most Successful Team: Indian Railways (8 titles).

Title Records

• Indian Railways – 8 titles
• Hockey Haryana – 3 titles
• Hockey Madhya Pradesh – 2 titles
• Hockey Odisha & Hockey Jharkhand – 1 title each

Previous Champions

• 2024 (14th Edition): Hockey Haryana
• 2023 (13th Edition): Indian Railways
• 2022 (12th Edition): Hockey Madhya Pradesh

About Hockey India

• Founded: 2009, replacing the Indian Hockey Federation.
• Responsible for: Organizing national and international hockey tournaments in India.
• President: Dileep Tirkey
• Headquarters: New Delhi

India Masters Clinch Inaugural International Masters League 2025 Title Under Legendary Leadership

• India Masters emerged triumphant in the inaugural International Masters League (IML) 2025, defeating West Indies Masters by six wickets in a thrilling grand finale at the SVNS International Stadium.
• Led by the iconic Sachin Tendulkar, the team showcased a clinical performance before a roaring crowd of nearly 50,000 fans and secured a prize money of ₹1 crore.
• West Indies Masters batted first and posted 148/7 in 20 overs.
• India Masters chased the target successfully, winning with six wickets in hand and 17 balls remaining.
• Match Awards:
  • Player of the Match: Ambati Rayudu scored 74 runs off 50 balls.
  • Masterstroke of the Match: Awarded to Ambati Rayudu for hitting 9 fours – Prize: ₹50,000.
  • Most Sixes in the Match: Ambati Rayudu hit 3 sixes – Prize: ₹50,000.
• Season Awards:
  • Most Fours in the Season: Kumar Sangakkara (38 fours) – Prize: ₹5,00,000.
  • Most Sixes in the Season: Shane Watson (25 sixes) – Prize: ₹5,00,000.
• Prize Money Distribution:
  • Winners (India Masters): ₹1 crore.
  • Runners-up (West Indies Masters): ₹50 lakh.

Legacy of IML 2025

• The inaugural IML 2025 was a celebration of cricket’s golden era, reviving the nostalgia of past glories with a star-studded lineup featuring legends like Sachin Tendulkar and Brian Lara (who led West Indies Masters).
• The tournament successfully blended historical excellence with modern entertainment, leaving fans eagerly anticipating future editions of the league.

CURRENT AFFAIRS: OBITUARY

Renowned Odia poet Ramakanta Rath died at 90

• ​Renowned Odia poet and Padma Bhushan awardee, Ramakanta Rath, passed away at his residence in Bhubaneswar at the age of 91, marking the end of an era in Odia literature.
• Born on December 13, 1934, in Cuttack, Rath pursued a master’s degree in English from Ravenshaw University before joining the Indian Administrative Service in
• He held several key positions, including serving as the Chief Secretary of Odisha, before retiring in ​
• Rath was a towering figure in modernist poetry, known for his philosophical approach that left an indelible mark on Indian literature.
• His acclaimed works include “Kete Dinara,” “Sandigdha Mrugaya,” “Saptama Rutu,” “Sachitra Andhara,” and “Sri Radha,” which won him the prestigious Saraswati Samman in 1992 and remains one of the most celebrated works in Odia literature.
• Over the years, Rath received numerous accolades, including the Sahitya Akademi Award in 1977, Sarala Award in 1984, Bishuva Samman in 1990, and the Sahitya Akademi Fellowship in
• In recognition of his contribution to literature, he was conferred with the Padma Bhushan, India’s third-highest civilian award, in ​
• Beyond his literary achievements, Rath played a pivotal role in shaping India’s literary landscape.
• He served as the vice-president of the Sahitya Akademi from 1993 to 1998 and later as president from 1998 to 2003, promoting Indian literature on national and global stages.

CURRENT AFFAIRS: IMPORTANT DAYS

Ordnance Factories Day 2025: March 18

• Ordnance Factories Day 2025 is observed on the 18th March 2025.
• It is a national event celebrated annually on the 18th of March every year all over India.
• Purpose : To commemorate the foundation of the first Ordnance Factory in colonial India at Cossipore near Kolkata in 1801.

Ordnance Factories Day History

• The East India Company of England, to increase their economic interest and political hold, considered manufacturing military hardware as a vital element.
• The British authorities in 1775 established a Board of Ordnance in Fort William, Kolkata, which marks the official beginning of the Army Ordnance in India.
• They further set up a gunpowder factory in 1787 at Ishapore, which started production in 1791.
• In 1801, the British established a Gun Carriage Agency at Cossipore, Kolkata and production started on March 18, 1802.
• This heralded the first industrial establishment of Ordnance Factories in India and they continue to operate to date.

Daily CA One- Liner: March 18

• The Department of Telecommunications (DoT) has launched the 5G Innovation Hackathon 2025, a six-month initiative aimed at accelerating the development of innovative 5G-powered solutions to address societal and industrial challenges.
• The Competition Commission of India (CCI) organized the 10th National Conference on Economics of Competition Law in New Delhi.
• India actively participated in the 353rd Governing Body Meeting of the International Labour Organisation (ILO) held in Geneva, Switzerland (March 10-20, 2025).
• Union Minister Ashwini Vaishnaw visited the Hyperloop testing facility at IIT Madras.
• Wholesale Inflation Rate: Increased to 2.38% in February, up from 2.31% in January, 2025.
• India and New Zealand have announced the launch of negotiations for a Free Trade Agreement (FTA), marking a significant step towards deepening bilateral economic cooperation.
• India concluded its campaign at the Special Olympics World Winter Games 2025 in Turin, Italy, with a total of 33 medals.
• Hockey Jharkhand defeated Hockey Haryana in the final at Tau Devi Lal Complex, Panchkula, Haryana.
• India Masters emerged triumphant in the inaugural International Masters League (IML) 2025, defeating West Indies Masters by six wickets in a thrilling grand finale at the SVNS International Stadium.
• State-owned Engineers India and MECON as well as four private entities are in the fray for the project to comprehensively revamp RBI’s currency management infrastructure in order to cater to future cash needs of the country’s fast growing economy.
• BRISKPE has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a payment aggregator for cross-border (PA-CB)
• India and New Zealand have announced the resumption of Free Trade Agreement (FTA) negotiations, a decade after talks stalled in 2015.
• Sharjah’s Faya Palaeolandscape has been nominated for UNESCO World Heritage status, showcasing 210,000 years of human resilience and adaptation while serving as a vital trade link between Arabia and India.
• The Centre has approved the Chandrayaan-5 mission, which will study the Moon, ISRO Chairman V. Narayanan
• Organized by the Department of Telecommunications (DoT), the 5G Innovation Hackathon 2025 is a six-month initiative aimed at developing advanced 5G-powered solutions for societal and industrial challenges.
• The Ministry of Mines, in collaboration with the Goa government, launched India’s first-ever Exploration Licence (EL) auction, marking a major step in unlocking critical and deep-seated mineral reserves.
• Patanjali Ayurved and DS Group will acquire Magma General Insurance for ₹4,500 crore.
• The Odisha Sahitya Akademi paid rich tributes to acclaimed Odia poet Ramakanta Rath, who passed away.
• Ordnance Factories Day 2025 is observed on the 18th March 2025.