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CURRENT AFFAIRS: BANKING, FINANCE & BUSINESS

State Bank of India Card unveils co-branded Tata Neu credit card with exclusive rewards

• SBI Card and Tata Digital have launched the Tata Neu SBI Card, a co-branded credit card.
• Two variants are available:
  • Tata Neu Infinity SBI Card
  • Tata Neu Plus SBI Card

Key Highlights :

• NeuCoins can be earned on all purchases (online/in-store, domestic/international).
• NeuCoins are credited monthly to the NeuPass account in the Tata Neu app.
• Rewards can be redeemed for:
  • Groceries
  • Travel
  • Fashion
  • Electronics
• Reward rates:
  • Up to 10% for Tata Neu Infinity SBI Card
  • Up to 7% for Tata Neu Plus SBI Card
• Additional rewards include:
  • Up to 1.5% back on UPI transactions
  • Up to 5% back on bill payments via Tata Neu
• Application options:
  • Through digital platforms
  • At Croma store kiosks
• Annual fee reversal conditions:
  • Spend ₹1 lakh yearly for Tata Neu Plus
  • Spend ₹3 lakhs yearly for Tata Neu Infinity
• Airport lounge access:
  • Domestic and international lounges included
• Fees:
  • ₹1,499 for Tata Neu Infinity SBI Card
  • ₹499 for Tata Neu Plus SBI Card
• Available on RuPay and Visa platforms

Recent News:

• SBI Cards has appointed Salila Pande as its new MD & CEO, effective April 1, 2025, succeeding Abhijit Chakravorty.

About SBI Cards and Payment Services:

• Headquarters: Gurugram, Haryana, India
• Founded: 1998
• CEO: Salila Pande
• Key Products: Credit Cards, Contactless Payments, EMI & Loan Services, Reward Programs, Co-Branded Cards, SBI Card Pay

State Bank of India Revives ‘Amrit Vrishti’ Fixed Deposit Scheme with New Rates

• The State Bank of India (SBI) has revised its special FD scheme, ‘Amrit Vrishti’.
• The new changes will be effective from 15th April 2025.
• The scheme was initially launched in July 2024 and concluded on 31st March 2025 after multiple extensions.
• The new scheme aims to promote deposit mobilisation by targeting senior and super-senior citizens.

Amrit Vrishti’s Interest Rates and Tenure:

• The ‘Amrit Vrishti’ FD scheme comes with a unique 444-day tenure.
• Under the revised structure:
• Senior citizens earn an interest rate of 7.55%
• Super senior citizens receive a slightly higher 7.65%
• The general public gets 7.05%
• Compared to the earlier version, which offered 7.75% to seniors, this marks a 20-basis point reduction, likely influenced by recent repo rate adjustments.

Adjustments in General FD Rates

• SBI has also revised interest rates across various FD tenures for the broader public and senior citizens.
• Notably:
• 1 year to <2 years: Reduced to 7.20% from 7.30%
• 2 years to <3 years: Cut to 7.40% from 7.50%

Revised FD Rates for Senior Citizens

• As of 15th April 2025, here are the updated FD rates for senior citizens across different tenures:
• 7–45 days: 4.00%
• 46–179 days: 6.00%
• 180–210 days: 6.75%
• 211 days–<1 year: 7.00%
• 1–<2 years: 7.20%
• 2–<3 years: 7.40%
• 3–<5 years: 7.25%
• 5–10 years: 7.50%

Recent News:

• In April 2025, SBI Mutual Fund unveiled two new investment schemes, the SBI BSE PSU Bank Index Fund and the SBI BSE PSU Bank ETF, targeting India’s public sector banking sector.

About State Bank of India (SBI):

• Founded Year: 1955
• Headquarters: Mumbai, Maharashtra, India
• Chairman: Challa Sreenivasulu Setty
• Slogan: “The Banker to Every Indian”

Zepto renames parent entity Kiranakart Tech, ahead of possible Initial Public Offer (IPO)

• Zepto, a quick-commerce startup, is changing its parent company’s name from Kiranakart Technologies Private Limited to Zepto Private Limited.
• The name change has been approved by the Registrar of Companies (RoC) in Mumbai.
• This change comes ahead of Zepto’s potential stock market debut.
• In India, a legal name change requires shareholder approval, followed by RoC filings and clearance from the central government.
• This move mirrors competitors like Swiggy (changed from Bundl Technologies to Swiggy Private Limited) and Zomato (changed to Eternal Limited) ahead of their IPOs.
• Zepto’s name change aims to align its corporate identity with its consumer-facing brand, enhancing brand recognition and simplifying stakeholder engagement.
• Zepto, founded in 2021, has become prominent in the 10-minute delivery segment and recently moved its headquarters from Singapore to India.
• The company is reportedly preparing for an IPO in the near future.

About IPO:

• Initial Public Offer (IPO) is a privately held company’s first sale of stock to the public via a stock exchange.
• Companies use IPO funds for working capital, debt repayment, acquisitions, and many other uses. The mainboard IPOs are listed on stock exchanges like NSE and BSE.

‘Grahak Mitras’ to shepherd State Bank of India customers towards alternate banking channels

• State Bank of India (SBI) plans to use staff from its subsidiary State Bank Operations Support Services (SBOSS) to assist customers in adopting alternate banking channels.
• These personnel, known as “Grahak Mitras”, will provide first-level assistance and guide customers at SBI branches.
• Grahak Mitras will be deployed at around 4,500 branches, covering 20% of SBI’s 22,740 branches
• The move is intended to ease pressure on busy branches, especially where government salary, pension, and benefit transfer accounts are maintained.
• SBI’s self-service channels include:
  • ATMs and ADWMs (Automated Deposit Cum Withdrawal Machines)
  • Self-service kiosks
  • SWAYAM barcode-based passbook printing kiosks
  • Cheque deposit kiosks
  • Internet banking, mobile banking (YONO), and WhatsApp banking
• In FY26, SBI plans to replace/upgrade 40,000 ATMs/ADWMs (about 62% of its network) and install 5,500 new SWAYAM kiosks.
• As of December-end 2024, SBI had 65,000 ATMs/ADWMs.
• As of March-end 2024, SBI had 20,135 SWAYAM kiosks at 17,663 branches, handling about 11 lakh transactions daily.
• SWAYAM kiosks migrated 3.4 crore passbook transactions per month away from branch counters.
• Alternate channel transactions increased to 98.1% as of December-end 2024, compared to 88.1% in March-end 2019.

CURRENT AFFAIRS: NATIONAL NEWS

Prime Minister Narendra Modi to inaugurate Vizhinjam international seaport

• Prime Minister Narendra Modi will inaugurate the Vizhinjam International Seaport in Thiruvananthapuram, Kerala, on May 2, 2025.
• This port will be India’s first semi-automated deep-water international container transshipment port, marking a historic development in maritime infrastructure.

Key Inauguration Details

• Date: May 2, 2025
• Inaugurated by: Prime Minister Narendra Modi
• Location: Vizhinjam, near Thiruvananthapuram, Kerala
• Handled so far: 265 ships and 5.48 lakh TEUs (Twenty-foot Equivalent Units)
• First Mother Ship Docked: MV San Fernando in July 2024

Project Development Details

• Model: Public-Private Partnership (PPP)
• Partners: Government of Kerala + Adani Vizhinjam Port Private Ltd. (AVPPL)
• Concession Agreement Year: 2015
• Total Investment: Over ₹18,000 crore
• Notable Fact: First Greenfield port project initiated by a state government in India

Adani Group’s Role in Port Management

• West Coast Ports: Mundra, Hazira, Vizhinjam, etc.
• East Coast Ports: Dhamra, Krishnapatnam, etc.
• International Operations:
  • Haifa Port, Israel
  • Dar es Salaam Port, Tanzania
  • Colombo Port, Sri Lanka
• National Share: Manages 27% of India’s total port volumes

India: Fastest Growing Large Aviation Market by 2026

• According to Airports Council International (ACI), India is set to become the world’s fastest-growing large aviation market by 2026, driven by low air travel penetration, infrastructure growth, and strong government support.

Growth Projections and Comparisons

• 2026:
  • India: 10.5% growth in air passenger traffic
  • China: 8.9%
• 2027:
  • India: 10.3%
  • China: 7.2%
• CAGR (2023–2027):
  • India: 9.5%
  • China: 8.8%
• 2025 Projection:
  • China: 12%
  • India: 10.1%

Reasons for Rapid Growth in India

• Low air trips per capita:
  • India (2023): 0.1 trips per person
  • China (2023): 0.5 trips per person
  • Indicates large untapped potential
• Rising middle class and disposable income
• Expanding aviation infrastructure (new airports, improved logistics)
• Policy support:
  • UDAN Scheme (Ude Desh ka Aam Nagrik)
  • PM Gati Shakti (National Master Plan for infrastructure)

Long-Term Outlook (Up to 2053)

• India’s projected long-term CAGR: 5.5%
  • Highest among large aviation markets
• China’s long-term CAGR: 3.8%

Other Fast-Growing Aviation Markets (CAGR till 2053)

• Vietnam: 4.6%
• Philippines: 4.5%
• Saudi Arabia: 4.5%
• Thailand: 4.3%
• Qatar: 4.2%
• Egypt: 4.0%
• UAE: 3.8%

Per Capita Air Travel – 2023 Comparison

• United States: 2.1 trips
• China: 0.5 trips
• India: 0.1 trips
  • Projection for India by 2043: 0.4 trips per capita

India’s Global Position by 2053

• 3rd largest aviation market (after US and China)
• Highest growth rate among major markets

Radar Speed Equipment Rules under Legal Metrology – Effective July 1, 2025

• The Department of Consumer Affairs has notified rules under the Legal Metrology (General) Rules, 2011, introducing mandatory standards for the use of radar equipment in vehicle speed measurement.
• This aims to enhance road safety and ensure scientifically accurate enforcement.

Key Highlights

• Objective: To improve road safety through accurate and verified radar-based speed enforcement.
• Effective Date: 1st July 2025
• Applicability: All radar speed measuring devices used by law enforcement agencies.
• Mandatory Verification: Devices must be verified and stamped by Legal Metrology authorities.
• Calibration: Equipment must be scientifically validated, calibrated, and tamper-proof.
• Standard Compliance: Rules are aligned with OIML R 91, an international standard for radar speed measuring devices.

Quick Reference Table

Feature	Details
Implementing Body	Department of Consumer Affairs
Under	Legal Metrology (General) Rules, 2011
Effective From	1st July 2025
Verification Authority	Legal Metrology Departments
International Standard	OIML R 91
Technology	Doppler Radar
Benefit	Accurate speed enforcement, road safety, legal reliability

Prime Minister Modi’s Visit to Saudi Arabia: Key Focus Areas and Strategic Implications

• Prime Minister Narendra Modi will visit Saudi Arabia on April 22–23, 2025, marking his first official trip to the Kingdom during his third term in office.
• The visit is expected to strengthen India-Saudi Arabia relations across multiple sectors, including trade, energy, defence, and strategic connectivity.
• Prime Minister Narendra Modi will engage in talks with Crown Prince Mohammed bin Salman in Jeddah, with an emphasis on regional stability and collaborative initiatives.

Key Focus Areas of the Visit

1. Strategic Diplomacy and Regional Security
   • Meeting with Crown Prince Mohammed bin Salman in Jeddah to discuss bilateral and regional matters.
   • Visit comes ahead of US President Donald Trump’s scheduled visit to Saudi Arabia in May 2025.
   • Geopolitical focus: Discussions on Houthi disruptions in the Red Sea and broader regional stability.
2. India-Middle East-Europe Corridor (IMEEC)
   • Reviving and reviewing the progress of IMEEC, a major project connecting India to Europe via the Middle East.
   • IMEEC’s momentum was affected by the Hamas attacks on Israel and the Gaza conflict in late 2023.
   • Saudi Arabia’s strategic importance in this corridor, which serves as a counterbalance to China’s Belt and Road Initiative (BRI).
3. Energy Cooperation
   • Saudi Arabia is India’s third-largest supplier of crude oil and LPG.
     • Crude Oil Imports (2023–24): 33.35 MMT, contributing 14.3% of India’s total crude imports.
     • LPG Imports: 18.2% of India’s total LPG imports.
   • Modi’s visit aims to negotiate better pricing and ensure long-term energy security.
4. Trade and Investment
   • Bilateral Trade (2023–24): USD 42.98 billion.
     • Indian Exports: USD 11.56 billion.
     • Saudi Imports (primarily oil): USD 31.42 billion.
   • Investment trends:
     • Indian investments in Saudi Arabia: ~USD 3 billion.
     • Saudi investments in India: ~USD 10 billion.

5. Defence and Security Cooperation
   • Growing defence ties, including collaboration in naval exercises like ‘Al Mohed Al Hindi’.
   • Focus on maritime security and capacity building.
   • Defence Minister Ajay Bhatt visited Riyadh in February 2024 for the World Defence Show—the first such visit in over 12 years.

India’s Pharmaceutical Industry Achieves Historic Milestone with $30 Billion Exports in FY25

• India’s pharmaceutical industry has set a remarkable record in FY25, with pharma exports surpassing $30 billion for the first time in history.
• A 31% year-on-year surge in March 2025 was key in exceeding the annual target of $29.38 billion.
• Despite global challenges such as geopolitical tensions and U.S. tariff threats, India’s pharma exports remained resilient, with the United States being the top destination.

Key Highlights

1. FY25 Total Pharma Exports
   • Total Exports: $30.47 billion, marking a 9.39% growth from $27.85 billion in FY24.
   • Exceeded Target: Surpassed the FY25 target of $29.38 billion.
2. March 2025 Surge
   • Exports rose by 31.21% YoY, reaching $3.68 billion.
   • One of the strongest monthly performances of the fiscal year.
3. Top Performing Months
   • January 2025: 21.47% growth.
   • May 2024: 10.63% growth.
   • February 2025: Contraction of -1.52%.
4. Product Categories (April–Feb FY25)
   • Drug formulations & biologicals: $20.12 billion (9% growth).
   • Bulk drugs & intermediates: $4.31 billion (1.40% growth).
   • Vaccines: $1.04 billion (down 4.20%).
   • Surgical products: $683.47 million (up 5.16%).
   • Ayush & herbal products: $620.97 million (up 6.17%).
5. Top Export Markets
   • United States: $8.95 billion (14.29% growth), accounting for 1/3rd of total exports.
   • Other Markets: UK, Brazil, France, South Africa (combined contribution <10.5%).
6. Markets with Export Decline
   • UAE (-17.7%), Turkey (-16%), Sri Lanka (-14.6%), Netherlands (-13.79%), China (-10.6%), Belgium (-7.37%).
7. Regional Export Share
   • NAFTA (incl. U.S.): 36.6% share, 14.06% growth to $9.8 billion.
   • Europe, Africa, and LAC: Significant contributors, though Africa saw a 1.74% decline and North-East Asia also faced a downturn.
8. S. Tariff Threats
   • The proposed 26% tariff on goods by President Trump triggered a rush in pharma exports.
   • Pharma products were excluded from the tariff list, ensuring continued growth.

Finance Ministry Denies GST Plans on UPI Transactions Above ₹2,000

• The Finance Ministry of India has strongly denied any intention to impose Goods and Services Tax (GST) on Unified Payments Interface (UPI) transactions above ₹2,000.
• The Ministry has dismissed these claims as false, baseless, and misleading.
• The clarification emphasizes that the government remains committed to promoting digital payments and assures that no Merchant Discount Rate (MDR) is charged on person-to-merchant (P2M) UPI transactions, thus no GST applies.

Key Highlights

1. No GST on UPI Transactions Above ₹2,000:
   • The Finance Ministry clarified that there is no proposal to impose GST on UPI transactions above ₹2,000.
   • Claims about such proposals in the media were described as completely unfounded and misleading.
2. No MDR on P2M UPI:
   • Since January 2020, the MDR has been removed on person-to-merchant (P2M) UPI
   • GST applies only when there is a charge such as MDR, meaning no GST is applicable on UPI transactions.
3. Exponential Growth of UPI:
   • FY 2019–20: ₹21.3 lakh crore
   • FY 2024–25 (as of March): ₹260.56 lakh crore
   • The government reaffirms its commitment to expanding digital payment infrastructure in India.
4. UPI Incentive Scheme:
   • Initiated in FY 2021–22, this scheme aims to promote low-value P2M UPI transactions and provide incentives to small merchants.
   • The scheme eases transaction costs for small businesses and enhances financial inclusion.
5. Incentive Payouts by Government:
   • FY 2022–23: ₹2,210 crore
   • FY 2023–24: ₹3,631 crore
   • Focuses on promoting financial inclusion and digital innovation at the grassroots level.

RECENT NEWS

• India’s Goods and Services Tax (GST) collections witnessed a strong growth of 9.9% year-on-year (YoY) in March 2025, reaching Rs 1.96 lakh crore.
• In April 2025, Fintech major Razorpay unveiled its Turbo UPI plugin, in partnership with NPCI BHIM Services Limited (NBSL) and Axis Bank, leveraging the BHIM Vega platform.
• The Reserve Bank of India (RBI), on April 9, 2025, announced a major step in India’s digital payments landscape by authorizing the National Payments Corporation of India (NPCI) to revise transaction limits for UPI-based Person-to-Merchant (P2M) payments.

CURRENT AFFAIRS: STATE NEWS

Kerala’s Vehicle-to-Grid (V2G) Technology Pilot by KSEB

• The Kerala State Electricity Board (KSEB) is launching a pilot project to integrate Vehicle-to-Grid (V2G) technology into the power grid, in collaboration with IIT Bombay.
• This aims to boost renewable energy integration, grid stability, and EV adoption.

What is V2G Technology?

• Definition: V2G allows electric vehicle (EV) batteries to both draw power from and send power back to the electricity grid.
• Function:
  • EVs act as decentralized mobile storage units.
  • During peak demand, EVs can supply electricity back to the grid, enhancing stability.

Pilot Project Overview

• Collaboration: KSEB + IIT Bombay
• MoU: To be signed for conducting feasibility study and implementing V2G.
• Phases:
  • Feasibility Study
  • Pilot Deployment
  • Grid Service Integration
• Goal: Create a scalable model for Kerala’s energy sector.

Why V2G Technology?

• Renewable Energy Integration: Supports solar power by storing excess energy in EVs.
• Grid Stability: Helps balance supply and demand during peak hours.
• Carbon Emission Reduction: Promotes clean energy and EV use.

RECENT NEWS

• As of March 27, 2025, Kerala, Tamil Nadu, and West Bengal have not received any funds from the central share under the Samagra Shiksha Abhiyan (SSA), despite having approved allocations for the financial year 2024–25.
• Kerala has become the first state in India to establish a Senior Citizens Commission by passing the Kerala State Senior Citizens Commission Bill, 2025.
• The Kerala Health Department has launched the nPROUD (New Programme for Removal of Unused Drugs) initiative, a significant step toward addressing the safe disposal of expired and unused medicines.

Andhra Pradesh Cabinet Approves Ordinance for SC Sub-Categorisation to Ensure Fairer Reservation Distribution

• In a significant move towards equitable reservation among Scheduled Castes (SCs), the Andhra Pradesh Cabinet has approved a draft ordinance to implement sub-categorisation of SCs in the state.
• This initiative, based on the principle of “reservation within reservation,” aims to allocate quota benefits based on the degree of backwardness among SC sub-castes.
• The move follows a Supreme Court verdict that permits states to sub-classify SCs, and it is backed by a commission headed by Rajeev Ranjan Mishra, a retired IAS officer.

Key Highlights of the Ordinance

1. Approval Date: April 15, 2025 by the Andhra Pradesh Cabinet.
2. Purpose: To ensure fairer reservation distribution by implementing sub-categorisation of SCs.
3. Initiation: The proposal is led by the TDP-led NDA government.
4. Legal Backing: The sub-categorisation is enabled after a Supreme Court verdict that allows state-level classification.
5. Commission Setup: A commission headed by Rajeev Ranjan Mishra (Retd. IAS) was established on November 15, 2024.
6. Public Consultations: Consultations were held across 13 (now 26) districts in Andhra Pradesh.
7. Legislative Approval: The ordinance was unanimously adopted in both the Legislative Council and the Legislative Assembly.

Rajeev Ranjan Mishra Commission’s Recommendations

The commission proposed dividing the 59 SCs into three categories based on their relative backwardness:

1. Group 1: Most Backward (1.0% Quota Allocation)
   • Sub-castes: Relli sub-group, including Bavuri, Chachati, Chandala, Dandasi, Dom, Ghasi, Godagali, Mehtar, Paki, Pamidi, Relli, Sapru.
2. Group 2: Backward (6.5% Quota Allocation)
   • Sub-castes: Madiga sub-groups, including Arundhatiya, Bindala, Chamar, Chambhar, Dakkal, Dhor, Godari, Gosangi, Jaggali, Jambuvulu, Madiga, Madiga Dasu, Mang, Mang Garodi, Matangi, Samagara, Sindholu.
3. Group 3: Less Backward (7.5% Quota Allocation)
   • Sub-castes: Mala sub-groups, including Adi Dravida, Anamuk, Arayamala, Arvamala, Bariki, Byagara, Chalavadi, Yellamalavar, Holeya, Holeya Dasari, Madasi Kuruva, Mahar, Mala, Mala Dasari, Mala Dasu, Mala Hannai, Mala Jangam, Mala Masti, Mala Sale, Mala Sanyasi, Manne, Mundala, Samban, Yatala, Valluvan, Adi Andhra, Masti, Mitta Ayyalavar, Panchama.

RECENT NEWS

• In March 2025, The Government of Andhra Pradesh is set to sign a Memorandum of Understanding (MoU) with the Bill & Melinda Gates Foundation in New Delhi

IBC to organise two-day International Conclave in Arunachal Pradesh on 21st & 22nd April 2025

• A two-day conclave titled ‘Buddha Dhamma and the Culture of Northeast India’ will be held from April 21–22, 2025, in Namsai, Arunachal Pradesh.
• It will explore the influence of Buddhism in Northeast India, especially its cultural and spiritual impact.

Event Details

• Title: Buddha Dhamma and the Culture of Northeast India
• Dates: April 21–22, 2025
• Location: Namsai, Arunachal Pradesh (close to the Myanmar border)
• Organized by:
  • International Buddhist Confederation (IBC)
  • Ministry of Culture, Government of India

Key Participants

• Chief Minister: Pema Khandu
• Deputy Chief Minister: Chowna Mein
• International Dignitary: Jigme Thinlye Namgyal (Consul General of Bhutan, Guwahati)
• Academic Involvement:
  • Buddhist students from Cambodia, Vietnam, Myanmar
  • Local scholars and researchers
• Monks and Scholars from South Asia and Southeast Asia

Focus on Theravāda Buddhism

• Tai Khamti Tribe: Migrated from Myanmar in the 18th–19th century, leading proponents of Theravāda Buddhism in Arunachal.
• Represents spiritual continuity and cultural revival in modern times.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Ajay Bhushan Pandey joins Asian Infrastructure Investment Bank (AIIB) as Vice President

• Ajay Bhushan Pandey has been appointed as Vice President (Investment Solutions) at the Asian Infrastructure Investment Bank (AIIB).
• He will be based in Beijing and will oversee the institution’s sectors, themes, and finance solutions department, sustainability and fiduciary solutions department, and portfolio management department.
• India is the second-largest shareholder of AIIB.
• AIIB is a Beijing-headquartered multilateral development bank with a capital base of US$ 100 billion and is AAA-rated by major international credit rating agencies.
• The bank aims to approve cumulative climate finance of US$ 50 billion by 2030.
• Pandey holds a PhD in Computer Science from the University of Minnesota and a Tech in Electrical Engineering from IIT Kanpur.
• He previously served as Finance Secretary to the Government of India and as Chairperson of the National Financial Reporting Authority (NFRA).
• As CEO of UIDAI, he expanded Aadhaar to cover 2 billion Indians, which boosted financial inclusion and reduced leakages in welfare schemes.
• He played a key role in implementing Aadhaar, UPI, GSTN, and the National Infrastructure Pipeline.
• He was instrumental in launching the faceless assessment and appeal scheme in the Income Tax Department.

About AIIB (Asian Infrastructure Investment Bank):

• The AIIB is a multilateral development bank that aims to improve social and economic outcomes in Asia by investing in sustainable infrastructure and other productive sectors.
• The AIIB focuses on areas such as transportation, energy, water, urban development, and digital infrastructure.
• Founded Year: 2016
• Headquarters: Beijing, China
• President: Jin Liqun
• Members: 110

Former Supreme Court judge Dinesh Maheshwari appointed as law commission chairperson

• Justice (Retd.) Dinesh Maheshwari has been appointed as the chairperson of the Law Commission in April 2025.
• Hitesh Jain (lawyer) and P. Verma (academician, also part of the 22nd Commission) has been appointed as full-time members.
• Their tenure will last until August 31, 2027.
• The main agenda includes examining the feasibility of implementing a Uniform Civil Code (UCC).
• The 23rd Law Commission of India was set up on September 1, 2024.
• The 22nd Law Commission started consultations on the UCC in 2023 and prepared a 749-page draft report based on 70 public consultations.
• The report remained incomplete after Justice Ritu Raj Awasthi (then chairperson) was appointed to the Lokpal.
• The 21st Law Commission, in its 2018 report, stated that UCC was “neither necessary nor desirable at this stage.”
• BJP’s core agenda includes Article 370 repeal, Ram Mandir construction, and implementation of UCC.
• Article 370 has been repealed, and the Ram Mandir constructed during BJP’s second term (2019–24).
• Uttarakhand has implemented a UCC, and Gujarat has formed a drafting committee.
• In 2022, the Centre told the Supreme Court that different personal laws are “an affront to the nation’s unity.”
• The 23rd Law Commission will have one chairperson, four full-time members, and two ex-officio members from the Department of Legal Affairs and Legislative Department.
• A maximum of five part-time members are allowed.
• Serving judges, if appointed, will work full-time until their retirement or the end of the Commission’s term.
• Retired chairpersons and members are entitled to ₹2.5 lakh and ₹2.25 lakh per month respectively, inclusive of pension benefits.

4 Senior IRS Officers, Including Pankaj Mishra and Sanjay Bahadur, Appointed to Central Board of Direct Taxes (CBDT) by Appointments Committee of the Cabinet

• The Appointments Committee of the Cabinet (ACC) has appointed four senior IRS (Income Tax) officers as members of the Central Board of Direct Taxes (CBDT), effective April 17, 2025.
• The CBDT Chairperson is Ravi Agrawal.
• The new members appointed are:
  • Pankaj Kumar Mishra (IRS IT: 1989)
  • Sanjay Bahadur (IRS IT: 1989)
  • Rajasekhar Reddy (IRS IT: 1989)
  • Aparna Rao (IRS IT: 1989)
• Pankaj Kumar Mishra is empanelled for Secretary-equivalent posts, was Principal CCIT (MP & Chhattisgarh) in August 2024, and Member (Finance) at the Atomic Energy Commission in October 2024.
• Sanjay Bahadur is serving as Principal Director General of Income Tax (Training), Delhi.
• Rajasekhar Reddy is PCCIT (TDS) for Chennai, Tamil Nadu & Puducherry.
• Aparna Rao is PCCIT-1 Bengaluru, for Karnataka & Goa.
• Both Reddy and Aparna Rao were empanelled as Principal CCITs in March 2025 at Apex Scale (Level 17).
• These appointments bring experience and leadership to CBDT, which is vital in direct tax administration in India.

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

MS Dhoni-backed drone startup Garuda Aerospace raises Rs 100 crore in Series B funding from Venture Catalysts

• Garuda Aerospace, backed by MS Dhoni, raised ₹100 crore in Series B funding from Venture Catalysts.
• The funding round values the startup at USD 250 million.
• The funds will boost drone production capacity, scale up the existing manufacturing facility, and expedite a new R&D and testing centre for defense drones.
• The move aligns with India’s goal of achieving self-reliance in defense tech manufacturing.
• Part of the funds will support expanding the intellectual property (IP) portfolio and setting up a new drone design facility.
• Garuda Aerospace holds over 20 patents.
• The startup benefits from supportive government policies like the Drone Rules 2021 and the PLI scheme.
• Garuda Aerospace offers drone manufacturing, drone-as-a-service (DaaS), and pilot training, catering to clients in government, agriculture, infrastructure, and defense sectors.

Kalam & Kavach 2.0 Conclave Charts Roadmap for Defence Reforms, Innovation and Self-Reliance in 2025

• Kalam & Kavach 2.0, Hosted by Pentagon Press in collaboration with CENJOWS, the conclave focused on “2025: The Year of Reforms” and discussed speed, synergy, and self-reliance in India’s national defence.

Key Highlights:

• Strategic Insight: Lt Gen Vipul Shinghal discussed a “renaissance in strategic thought,” revealing the progress of 8-9 new doctrines.
• Airpower & Future Warfare: Former IAF Chief ACM V.R. Chaudhari emphasized jointness, AI-driven warfare, and the importance of theatre commands for future priorities.
• Security Outlook: Lt Gen Raj Shukla (Retd) and Sandeep Unnithan highlighted issues like drones, grey zone threats, and the need for rapid, tech-led reform.
• Technology as a Force Multiplier: Experts stressed AI, quantum, cyber, and space as key elements in modern warfare.
• Industry’s Role: Indian industry and defence startups were recognized as co-creators of self-reliance and capability in the sector.
• Books Released: Books like Cyber Diplomacy, Artificial Intelligence in Military Applications, and India’s Arsenal highlighted innovation in the sector.

CURRENT AFFAIRS: DEFENCE NEWS

JCBL Group Signs India’s First Defence Memorandum of Understanding (MoU) with Slovakia

• India and Slovakia have signed their first defence Memorandum of Understanding (MoU).
• The agreement includes Airbornics Defence & Space Pvt. Ltd. (ADSL), a defence arm of the JCBL Group.
• The partnership focuses on co-developing technologies for next-generation combat vehicles under the Make in India
• The MoU was finalized during President Droupadi Murmu’s state visit to Slovakia.
• Key systems to be developed include turrets, active protection systems, remote-controlled weapon systems, and human-machine interface modules.
• All manufacturing will take place within India.
• The initiative is aimed at technology transfer and joint development of platforms for complex terrains and high-altitude environments.
• There is potential for future defence exports, combining Slovakia’s technical expertise with India’s manufacturing scale.
• The development supports India’s goal to reduce dependence on foreign defence imports.
• ADSL is known for its work in aerospace systems, defence platforms, and armoured vehicles.
• ADSL is certified with ISO 9001:2015 and AS 9100D for Aerospace Quality Management Systems.
• JCBL Group, established in 1989, operates in sectors like mobility, defence, railway components, agriculture, and finance.
• The conglomerate is valued at $206.02 million and has partnered with Daimler, Toyota, and Harley-Davidson in the past.
• Defence experts regard this MoU as a significant advancement in India’s effort to become a self-reliant defence producer while fostering strategic global partnerships.

CURRENT AFFAIRS: IMPORTANT DAYS

National Civil Service Day 2025: April 21

• Every year April 21st is celebrated as National Civil Service Day.
• The National Civil Service Day is known as the spine of the administration of the country.
• The civil service in India includes the Indian Administrative Service, Indian Police Service, Indian Foreign Service, and the central Group A and Group B services in the country.

History 

• In 1947 on 21st April Sardar Vallabh Bhai Patel, Home Minister of independent India addressed the Probationary Officers at the all-Indian Administrative Service Training School at Metcalfe House in New Delhi.
• Sardar Vallabh Bhai Patel delivered a powerful speech and empowered the civil servants to adopt the role of national service leaving behind the experience. In his speech, he referred to civil servants as the “Steel frame of India”.
• The first such function was held in Vigyan Bhawan, New Delhi on 21st April 2006.
• So, since 2006 it has been celebrated as National Civil Service Day on the 21st of April.
• On this day the Prime Minister was awarded for excellence in public administration.

Daily CA One-Liner: April 21

• Prime Minister Narendra Modi will inaugurate the Vizhinjam International Seaport in Thiruvananthapuram, Kerala, on May 2, 2025.
• According to Airports Council International (ACI), India is set to become the world’s fastest-growing large aviation market by 2026, driven by low air travel penetration, infrastructure growth, and strong government support.
• The Department of Consumer Affairs has notified rules under the Legal Metrology (General) Rules, 2011, introducing mandatory standards for the use of radar equipment in vehicle speed measurement.
• Prime Minister Narendra Modi will visit Saudi Arabia on April 22–23, 2025, marking his first official trip to the Kingdom during his third term in office.
• India’s pharmaceutical industry has set a remarkable record in FY25, with pharma exports surpassing $30 billion for the first time in history.
• Finance Ministry of India has strongly denied any intentions to impose Goods and Services Tax (GST) on Unified Payments Interface (UPI) transactions above ₹2,000.
• The Kerala State Electricity Board (KSEB) is launching a pilot project to integrate Vehicle-to-Grid (V2G) technology into the power grid, in collaboration with IIT Bombay.
• In a significant move towards equitable reservation among Scheduled Castes (SCs), the Andhra Pradesh Cabinet has approved a draft ordinance to implement sub-categorisation of SCs in the state.
• A two-day conclave titled ‘Buddha Dhamma and the Culture of Northeast India’ will be held from April 21–22, 2025, in Namsai, Arunachal Pradesh.
• SBI Card and Tata Digital have launched the Tata Neu SBI Card, a co-branded credit card.
• The State Bank of India (SBI) has revised its special FD scheme, ‘Amrit Vrishti’.
• Zepto, a quick-commerce startup, is changing its parent company’s name from Kiranakart Technologies Private Limited to Zepto Private Limited.
• State Bank of India (SBI) plans to use staff from its subsidiary State Bank Operations Support Services (SBOSS) to assist customers in adopting alternate banking channels.
• Ajay Bhushan Pandey has been appointed as Vice President (Investment Solutions) at the Asian Infrastructure Investment Bank (AIIB).
• Justice (Retd.) Dinesh Maheshwari has been appointed as the chairperson of the Law Commission in April 2025.
• The Appointments Committee of the Cabinet (ACC) has appointed four senior IRS (Income Tax) officers as members of the Central Board of Direct Taxes (CBDT), effective April 17, 2025.
• Garuda Aerospace, backed by MS Dhoni, raised ₹100 crore in Series B funding from Venture Catalysts.
• Kalam & Kavach 2.0, Hosted by Pentagon Press in collaboration with CENJOWS, the conclave focused on “2025: The Year of Reforms” and discussed speed, synergy, and self-reliance in India’s national defence.
• India and Slovakia have signed their first defence Memorandum of Understanding (MoU).
• Every year April 21st is celebrated as National Civil Service Day.