Daily Current Affairs April 23rd 2025 | Latest News | Download PDF

Dear Readers, get to know the daily current affairs today covering all the National & International Events provided here in this article. Current Affairs is an important topic in various competitive exams like IBPS/SBI/PO/Clerk and other competitive exams. To score better in this section, be updated with the daily happenings. Check the Daily Current Affairs April 2025 updates here. Revision is very important in remembering current affairs. Candidates after learning the Daily current affairs April 23rd 2025, can test their knowledge by attempting Current Affairs Quiz provided with answers. Daily current affairs April 23rd 2025 covers current affairs from International & National news, Important Days, State News, Banking & Economy, Business News, Appointments & Resignation, Awards & Honour, Books & Authors, Sports News, etc.,

Daily Current Affairs PDF of April 23rd 2025

Get More: Static GK Pdfs

CURRENT AFFAIRS: BANKING, FINANCE & BUSINESS

Reserve Bank of India allows minors over 10 years to operate bank accounts independently in India

• India’s central bank, the Reserve Bank of India (RBI), announced on April 21,2025 that minors above the age of 10 will be able to open and operate independent bank accounts.
• Minors of any age can open savings and term deposit accounts through their natural or legal guardian.
• Minors can also open such accounts with their mother as the guardian.

Key Highlights:

• The RBI’s latest circular encourages banks to “catch depositors young” by allowing minors to open and operate deposit accounts.
• The terms of independent operation must be clearly communicated to the minor account holders.
• Banks may set limits and terms for opening and operation of minor accounts based on their risk management policies.
• Banks are free to offer additional facilities such as internet banking, ATM/debit cards, and chequebooks to minors, subject to risk assessment and suitability.
• All minor accounts—whether independently operated or guardian-operated—must not be overdrawn and should always have a credit balance.
• On attaining majority, fresh operating instructions and a specimen signature of the account holder must be obtained and recorded.
• If the account was operated by a guardian, the balance must be confirmed upon the minor attaining majority.
• Banks must proactively communicate these requirements to minors nearing the age of majority.
• RBI has directed banks to formulate or revise policies in line with these new guidelines by July 1, 2025.
• Existing policies may continue until the revised policies are implemented.

Recent News:

• In April 2025, in a significant move to boost digital communication and financial literacy, the Reserve Bank of India (RBI) launched a verified WhatsApp channel.
• This initiative, part of the ‘RBI Kehta Hai’ campaign, aims to provide accurate and timely financial information to citizens across India.

About RBI :

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

Reserve Bank of India Issues Latest Liquidity Coverage Ratio (LCR) Norms For Banks

• The Reserve Bank of India has mandated a 5% additional run-off factor (liquidity buffer) for retail and small business customer deposits enabled with internet and mobile banking (IMB) facilities.
• These changes are part of the RBI’s updated Liquidity Coverage Ratio (LCR) guidelines under the Basel-III framework, which ensures banks maintain sufficient high-quality liquid assets (HQLA) to survive a 30-day stress period.
• The new rules will come into effect from April 1, 2026, offering banks a one-year extension from the previously proposed date (April 1, 2025).
• The revised norms are a relaxation from the 5% additional run-off factor proposed in the July 2024 draft

Key Highlights:

• According to the updated norms:
  • Stable retail deposits with IMB will now carry a 7.5% run-off factor, up from the current 5%.
  • Less stable retail deposits with IMB will carry a 12.5% run-off factor, up from the current 10%.
• The changes reflect concerns about rapid digital withdrawals in stress scenarios due to ease of access via UPI, mobile banking, and internet banking.
• The updated framework takes into account:
  • Feedback from stakeholders on the July 2023 draft.
  • Experiences from foreign banking systems that witnessed sudden outflows during stress.
• A review led by RBI Deputy Governor Sanjay Malhotra helped shape the final version of the guidelines.
• For wholesale funding from non-financial legal entities:
  • Deposits from trusts (educational, charitable, religious), partnerships, and LLPs will now carry a 40% run-off rate, down from the current 100%, reducing the pressure on LCR compliance.
• The RBI estimates that, based on December 31, 2024 data, the aggregate LCR of banks will improve by about 6 percentage points as a result of these changes.
• The central bank clarified that all banks are currently meeting the minimum LCR requirement comfortably.
• The revised guidelines aim to strengthen liquidity risk management while also allowing operational flexibility for banks, especially in the rapidly growing digital banking space.
• RBI emphasized that the updated rules align more closely with global standards and ensure smooth transition for banks.

What is LCR?

• LCR stands for Liquidity Coverage Ratio, a financial metric used by banks and other financial institutions to measure their ability to meet short-term cash obligations, specifically within a 30-day period.
• It assesses whether a bank has enough high-quality liquid assets (HQLAs) to cover potential cash outflows during a stress scenario.

Punjab National Bank launches 34 new products on its 131st foundation day

• Punjab National Bank (PNB) celebrated its 131st Foundation Day on April 12, 2025.
• Financial Services Secretary M Nagaraju was present during the celebrations.
• On the occasion, PNB launched 34 new products.
• These include 12 customer-centric deposit schemes and 10 digital transformation products.
• The deposit schemes cater to different customer segments like salaried professionals, women, defence personnel, farmers, NRIs, senior citizens, pensioners, students, and youth.

Key Highlights:

• The bank introduced a QR code-based customer feedback mechanism.
• A new live chat assistant named “Pihu” was also launched.
• PNB enhanced its internal banking functionalities to improve customer service.
• Earlier in the week of the anniversary, PNB organized a Half Marathon to spread awareness about cybersecurity.
• The marathon was themed ‘Cyber Run – Empowering a Secure Digital India’.
• The initiative aimed to educate citizens on safe digital banking practices and PNB’s cybersecurity efforts.
• Punjab National Bank was established on April 12, 1895, as part of the Swadeshi movement.
• The bank’s first branch was in Lahore, now in Pakistan.
• Lala Lajpat Rai, a great freedom fighter, was the first to open an account in the bank.
• The original bank office was located opposite Arya Samaj Mandir in Anarkali, Lahore.
• A maiden dividend of 4% was declared just seven months after operations began.

About Punjab National Bank (PNB):

• Founded: 1894
• Headquarters: New Delhi, India
• Managing Director & CEO: Ashok Chandra
• Tagline: “The Name You Can Bank Upon”

Securities and Exchange Board of India extends automated trading window framework to immediate relatives of designated persons

• SEBI has extended its automated trading freeze mechanism, which previously applied only to designated persons (DPs), to now include their immediate relatives in listed companies.
• This aims to prevent inadvertent non-compliance with insider trading norms, especially ahead of financial result declarations, by individuals who might have access to unpublished price-sensitive information (UPSI).

Key Highlights:

• Immediate relatives, as defined by SEBI, include a spouse and also a parent, sibling, or child (of the person or the spouse), provided they are financially dependent or consult the person in decisions related to trading in securities.
• The implementation will occur in two phases.
• The first phase begins on July 1, 2025, and will cover the top 500 listed companies based on market capitalization.
• The second phase starts on October 1, 2025, and will extend to all other listed companies.
• A designated depository (DD) will provide portal access to listed companies, which must upload the PAN, name, and demat account details of both DPs and their immediate relatives, along with the start and end dates of the trading window closure.
• Companies must confirm the uploaded data at least two trading days before the closure starts.
• The DD will then share the data with stock exchanges and the other depository at least one day prior to the trading window closure.
• Depositories and stock exchanges will use this information to implement a trading freeze for the identified individuals in their equity and derivative holdings.
• Any updates to the data must be implemented within two trading days.
• Exemptions, allowed under SEBI rules, will be applied automatically and reversed once the exemption period ends.
• Depositories will standardize data submission formats and timelines and are required to coordinate with stock exchanges and listed companies to resolve any disputes or discrepancies.
• For compliance monitoring, they will submit quarterly reports to SEBI detailing the number of companies covered, relatives affected, PANs frozen, and exemptions granted during the reporting period.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Tuhin Kanta Pandey
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

India Benchmark 10-Year Government Bond Yield Drops To Over Three-Year Low

• Indian government bond yields fell sharply as underlying sentiment remained bullish, with markets anticipating further liquidity infusion from the central bank as well as rate cuts.
• The benchmark 10-year yield ended at 6.3164%, compared with its previous close of 6.3709%, and its lowest since November 9, 2021.
• The Reserve Bank of India is set to buy 200 billion rupees ($2.35 billion) worth of bonds on Tuesday, followed by a similar quantum of purchase next week.
• The RBI has infused 5.81 trillion rupees through debt purchases as well as foreign exchange swaps since the start of 2025.
• Earlier this month, the central bank reduced the repo rate by 25 basis points to 6.00% and also changed its stance to “accommodative” from “neutral.”
• Positive moves in the local currency are also boosting investor sentiment, traders stated.
• The Indian rupee climbed 0.3% on April 21, 2025, which supported the downside in the bond yields.
• India’s overnight index swap rates also plunged as receiving bias persisted throughout the day, especially from foreign banks as continued liquidity injection along with favourable bets of rate cuts in India and the United States.
• The one-year OIS rate fell 4 bps, while the two-year rate eased 4 bps and the five-year rates declined 5 bps.

MobiKwik Partners with Poonawalla Fincorp to Offer Instant Personal Loans

• Listed fintech startup MobiKwik has partnered with Poonawalla Fincorp to offer instant personal loans of up to INR 15 Lakh to its customers.
• Through this partnership, MobiKwik will offer loans via its app to borrowers across diverse income segments in Tier II, III and beyond cities.
• Under the initiative, MobiKwik users pan India will have access to a loan amount for ZIP EMI ranging from INR 50K to INR 15 Lakh.
• ZIP EMI is a personal loan service provided by

About MobiKwik:

• Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik is a digital banking platform that offers a range of payments and financial products to both customers and merchants such as digital wallet, UPI, pocket UPI, and Zaakpay (payment gateway).
• The company claims to be India’s largest digital wallet provider serving over 172 Mn registered users and a network of 5 Mn+ merchants.

Centre Slaps 12% Duty on Steel Imports to Shield India’s Domestic Producers

• In a decisive move to protect the Indian steel sector, the Central Government has imposed a 12% safeguard duty on imports of certain non-alloy and alloy steel flat products.
• On April 21, 2025, the Press Information Bureau (PIB) announced the imposition of a safeguard duty on steel imports.
• This measure is aimed at protecting domestic steel manufacturers from the recent surge in cheaper steel imports.
• It seeks to ensure fair competition and market stability, especially for small and medium-scale enterprises (SMEs).
• The decision is seen as vital for strengthening the resilience of India’s steel industry, a key component of the country’s industrial and economic structure.
• Union Minister for Steel and Heavy Industries, H.D. Kumaraswamy, welcomed the decision, calling it a “timely and necessary step”.
• Kumaraswamy emphasized the role of Prime Minister Narendra Modi’s leadership, crediting his Atmanirbhar Bharat vision for supporting self-reliance and strategic industrial growth.
• The safeguard duty is expected to:
  • Protect jobs in the steel industry
  • Encourage domestic investment in production capacity
  • Enhance India’s competitiveness in the global steel market
  • Reduce dependence on foreign steel suppliers
• Overall, this move is a significant policy intervention to support the steel sector and align with India’s broader goals of economic resilience and self-sufficiency.

About Ministry of Steel and Heavy Industries:

• Cabinet Minister: H. D. Kumaraswamy
• Minister of State (MoS): Bhupathi Raju Srinivasa Varma

CURRENT AFFAIRS: NATIONAL NEWS

Core Sector Grows 3.8% in March 2025; Cement, Power, Refinery Products Lead Rise

• India’s infrastructure output, which constitutes about two-fifths of the country’s industrial production, increased by 3.8 percent in March 2025 on an annual basis.
• The production of cement, fertilisers, steel, electricity, coal and refinery products recorded positive growth during last month.
• Meanwhile, the cumulative growth rate of the combined Index of Eight Core Industries (ICI) during the financial year 2025 stood at 4.4 per cent as compared to the corresponding period of last year.
• According to provisional data released by the Ministry of Commerce and Industry, cement production increased by 11.6 percent, fertilisers witnessed an uptick of 8.8 percent, steel production increased by 7.1 percent, electricity gained 6.2 percent, coal production climbed by 1.6 percent, and petroleum refinery products rose slightly by 0.2 percent on an annual basis.
• Conversely, natural gas declined by 12.7 percent in comparison to the same month last year, and crude oil slipped 1.9 percent in March 2025.
• The eight core industries comprise 40.27 percent of the weight of items included in the Index of Industrial Production.

Khadi Sector Hits Record Highs with 447% Sales Growth Under PM Modi’s Leadership: KVIC Chairman Manoj Kumar

• The Khadi and Village Industries sector has achieved remarkable progress in the past eleven years, under the leadership of Prime Minister Narendra Modi, promoting self-reliance and boosting the country’s economy.
• According to Manoj Kumar, Chairman of the Khadi and Village Industries Commission (KVIC), provisional data for the financial year 2024-25 reveals that the sector has set new records in production, sales, and employment generation.
• Key highlights of the sector’s performance over the last 11 years:
• Sales have increased by 447%.
• Production has surged by 347%.
• Employment generation has grown by 49.23%.
• In terms of financial figures:
  • The production of Khadi and Village Industry products, which was valued at over 26,000 crore rupees in the financial year 2013-14, has increased nearly fourfold to over 1,16,000 crore rupees in 2024-25.
  • The sales of Khadi products have also witnessed a significant rise, growing from around 31,000 crore rupees in 2013-14 to over 1,70,000 crore rupees.
• This growth reflects the ongoing success and resilience of the sector, significantly contributing to the Indian economy while empowering rural areas and promoting Atmanirbhar Bharat (self-reliant India).

India Achieves Record ₹2 Lakh Crore in Smartphone Exports in FY25

• India’s smartphone export industry has achieved a historic milestone in the financial year 2024–25 (FY25), with exports crossing ₹2 lakh crore for the first time.
• This growth highlights the success of the Production-Linked Incentive (PLI) scheme, India’s rising position in global value chains (GVCs), and the significant role played by Apple’s iPhone exports.

Key Points

• Record Achievement: India’s smartphone exports exceeded ₹2 lakh crore in FY25 — highest ever.
• PLI Scheme Impact: Growth primarily driven by the Production-Linked Incentive (PLI) scheme, boosting domestic manufacturing and exports.
• Export Growth: Exports grew by 54% over FY24, reflecting robust growth momentum.
• Global Integration: India’s integration into Global Value Chains (GVCs) deepened, with greater MSME participation.
• Employment Generation: Surge in exports created large-scale employment, especially in the electronics manufacturing sector.
• Self-Reliance in Production: Around 99% of smartphones used in India are locally manufactured, reducing import dependence.
• Major Export Contributor:
  • Apple contributed 70% of total exports.
  • Foxconn (Tamil Nadu) alone accounted for 50% of shipments with 40% YoY growth.
  • Tata Electronics also emerged as a key player via Wistron (Karnataka) and Pegatron (Tamil Nadu).
• Previous Benchmark: Exports had already reached ₹1.75 lakh crore by February 2025, surpassing the total of FY24.

India and United States Move Towards Bilateral Trade Agreement: Key Developments

• India and the United States have made significant strides towards finalizing a Bilateral Trade Agreement. Prime Minister Narendra Modi and US Vice-President JD Vance expressed satisfaction over the progress in negotiations for the agreement, which is expected to benefit both nations economically.

Key Highlights

• Agreement Status: Both leaders announced the Terms of Reference for the bilateral trade deal, aiming for completion by fall 2025.
• Timeline: Discussions initiated during PM Modi’s February visit to the US, and are expected to move forward with a high-level Indian delegation traveling to the US soon.
• Trade Deal Objective: The agreement focuses on mutual welfare and enhancing bilateral cooperation in energy, defence, and strategic technologies.

RECENT NEWS

• On January 20, 2025, Usha Vance made history by becoming the first Indian-American and Hindu Second Lady of the United States. Her husband, J.D. Vance was sworn in as the 50th Vice President of the United States, marking a significant milestone in American politics.

CURRENT AFFAIRS: STATE NEWS

Maharashtra Implements National Education Policy 2020: Hindi Made Mandatory as Third Language for Classes 1–5

• In alignment with the National Education Policy (NEP) 2020, the Maharashtra government has announced a major curriculum overhaul, introducing Hindi as a compulsory third language for students of Classes 1 to 5 in English and Marathi-medium schools.
• This change will be implemented phase-wise starting from the 2025–26 academic year.

Key Points

• Mandatory Hindi:
  • Hindi will become the compulsory third language for students of Classes 1 to 5.
  • Applicable to English and Marathi-medium schools.
• Three-Language Formula:
  • Aligns with NEP 2020’s three-language formula to promote multilingualism and national integration.
  • Previously, English and Marathi-medium schools followed a two-language format.
  • Other medium schools (e.g., Urdu, Gujarati) already implement three-language combinations.
• Phase-Wise Rollout:
  • Implementation to begin from Class 1 in the academic year 2025–26.
  • Gradual extension in subsequent academic years.
• NEP 2020 Education Structure:
  • 5+3+3+4 structure:
    • Foundational Stage: Pre-primary (3 years) + Classes 1–2
    • Preparatory Stage: Classes 3–5
    • Middle Stage: Classes 6–8
    • Secondary Stage: Classes 9–12

RECENT NEWS

• In April 2025, In a significant move for wildlife conservation in urban India, the Maharashtra State Wildlife Board has officially declared DPS Flamingo Lake as a conservation reserve.
• The 62nd National Maritime Day and Merchant Navy Week were officially inaugurated by Maharashtra Governor C P Radhakrishnan at Raj Bhavan, Mumbai.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Davos meeting founder Klaus Schwab steps down as World Economic Forum chair

• Klaus Schwab, founder of the World Economic Forum (WEF), has resigned as Chair of its Board of Trustees.
• The announcement was made by the Geneva-based WEF on April 20, 2025.
• Schwab, aged 87, said he was stepping down “with immediate effect” as he entered his 88th year.
• The WEF did not provide a specific reason for his resignation.
• Peter Brabeck-Letmathe, Vice Chairman of the WEF Board, will serve as interim chairman.
• Klaus Schwab founded the WEF in 1971, aiming to provide a platform for global leaders to address major global issues.
• The annual Davos gathering became a symbol of globalisation, drawing political leaders, CEOs, and celebrities.
• In recent years, the event has faced criticism for being an elitist platform disconnected from ordinary people’s concerns.
• Allegations surfaced about harassment and discrimination within the WEF, which were denied by the organisation.
• A law firm was reportedly hired to investigate the internal workplace culture.
• The WEF has faced challenges since the 2007–2009 global financial crisis, the 2022 Russian invasion of Ukraine, and protectionist U.S. trade policies.
• Critics and analysts view the WEF as an institution in decline due to shifting geopolitical and economic sentiments.
• Schwab predicted backlash against globalisation in a 1996 opinion piece, co-authored with Claude Smadja.
• They warned that economic discontent in industrial democracies was leading to the rise of populist politics and threatening social stability.

Odisha’s Jitendra Mishra Elected as President of International Centre of Films for Children and Young People (CIFEJ)

• Jitendra Mishra, acclaimed Indian filmmaker, has been unanimously elected as President of the International Centre of Films for Children and Young People (CIFEJ) for the 2025–2027 term.
• CIFEJ is a UNESCO-backed organization headquartered in Athens, Greece, dedicated to promoting culturally diverse and educational films for children and young people.
• Jitendra’s election reflects his leadership and dedication to advancing youth-focused cinema globally.
• Under his presidency, CIFEJ aims to enhance its mission of supporting creative, educational, and inspiring audio-visual content for younger audiences.
• The newly elected board of CIFEJ includes experts from Canada, Cyprus, China, Tunisia, Romania, Iran, and Japan, showing widespread global backing for Jitendra’s vision.
• Jitendra is also known as the Festival Director of Smile International Film Festival for Children and Youth (SIFFCY).
• Through SIFFCY and other initiatives, he has revolutionized the use of cinema for awareness and social impact, promoting cultural diversity and inspiring young minds worldwide.

Ananya Panday is Chanel’s 1st Indian ambassador; Sonam, Alia, Deepika, Other Indian celebrities linked to top global labels

• Ananya Panday Becomes Chanel’s First-Ever Indian Brand Ambassador.

Key Rewinds:

• Here’s a look at other Indian celebrities who are also the faces of high-end luxury brands:

1. Ananya Panday – Chanel

• Ananya is the first Indian to be appointed as the brand ambassador for Chanel.
• The brand highlighted that her values resonated with Chanel, making her the perfect representative.
• She was also present at the Chanel Spring/Summer 2025 show in Paris, sparking speculations about her association with the brand.

2. Alia Bhatt – Gucci

• In May 2023, Alia Bhatt became the first Indian global ambassador for Gucci.
• She made her debut at the Gucci Cruise 2024 show in Seoul, joining a list of global ambassadors such as Dakota Johnson, Hanni, and Harry Styles.

3. Deepika Padukone – Louis Vuitton

• In 2022, Deepika Padukone became the first Indian face of the French luxury brand Louis Vuitton.
• She has appeared in several brand campaigns, solidifying her place as a global ambassador.

4. Sonam A Kapoor – Dior

• Sonam A Kapoor was announced as the new face of Dior in October 2024.
• She made her debut at the Spring/Summer 2025 show during Paris Fashion Week and attended her first Dior show in Kyoto, Japan, solidifying her role as an ambassador for the luxury brand.

CURRENT AFFAIRS: AWARDS AND HONOURS.

25th Laureus World Sports Awards 2025: Celebrating Global Sporting Excellence

• The 25th Laureus World Sports Awards took place in Madrid, honouring the year’s most outstanding athletes and teams.
• Dubbed the “Oscars of Sports,” the ceremony recognised both individual brilliance and collective achievements across diverse disciplines.

Laureus World Sportsman of the Year

• Winner: Mondo Duplantis (Pole Vault)
• Highlights:
  • First-time recipient after three consecutive nominations.
  • 2024 Achievements:
    • Gold at the World Indoor Championships (second time).
    • Broke his own world record for the ninth time.
    • Olympic gold medallist in Paris.
  • Defeated contenders: Carlos Alcaraz, Léon Marchand, Tadej Pogačar, Max Verstappen.
  • Received a special tribute from Usain Bolt, the only other trackandfield athlete to win this award.

Laureus World Sportswoman of the Year

• Winner: Simone Biles (Gymnastics)
• Highlights:
  • Secured her fourth Laureus title (ties Serena Williams’ record).
  • 2024 Achievements at the Paris Olympics:
    • Three gold medals.
    • One silver medal.
  • Symbolises a remarkable comeback, having previously won Comeback of the Year.

Other Major Awards and Recipients

Category	Winner
World Team of the Year	Real Madrid
Breakthrough of the Year	Lamine Yamal
Comeback of the Year	Rebeca Andrade
Sportsperson with a Disability	Jiang Yuyan
Action Sportsperson of the Year	Tom Pidcock
Sport for Good Award	Kick4Life
Sporting Icon Award	Rafael Nadal
Lifetime Achievement Award	Kelly Slater

CURRENT AFFAIRS: MOUS AND AGREEMNENT

Tata Power Renewable Energy and Tata Motors Partner on 131 MW Wind-Solar Hybrid Project

• Tata Power Renewable Energy Ltd. (TPREL), a subsidiary of Tata Power, has signed a power purchase agreement (PPA) with Tata Motors under the group captive model to jointly develop a 131 MW wind-solar hybrid renewable energy plant.
• Both companies will invest in the project, which underpins Tata Motors’ commitment to sourcing 100% renewable electricity by 2030.

Key Details

• Project Capacity
  The hybrid plant will have an installed capacity of 131 MW, combining wind and solar generation.
• Offtake and Supply
  Renewable power will supply six Tata Motors manufacturing plants across Maharashtra and Gujarat.
• Annual Generation and Emissions Impact
  Expected to produce 300 million units (MUs) of clean energy per year, offsetting over 200,000 tonnes of CO₂ emissions annually.
• Group Captive Portfolio Growth
  TPREL’s group captive capacity has crossed 1.5 GW:
  • 478 MW operational
  • Nearly 1.1 GW under execution, to be commissioned over the next two years.
• Advanced RTC Solutions
  Ongoing development of round the clock (RTC) renewable solutions by integrating:
  • Wind
  • Solar
  • Floating solar
  • Battery storage

RECENT NEWS

• In February 2025, Tata Power announced a strategic partnership with Amazon Web Services (AWS) to modernize its digital infrastructure and accelerate India’s transition toward a smarter, more sustainable energy ecosystem.

CURRENT AFFAIRS: RANKING AND REPORTS

World Trade Organization Global Trade Outlook 2025: Merchandise Trade Set to Contract Amid Rising Tensions

• The World Trade Organization (WTO) projects a 0.2% decline in global merchandise trade for 2025, driven by persistent tariff disputes—notably between the United States and China.
• In contrast, services trade is expected to grow modestly, but developing and least developed countries (LDCs) face heightened risks from economic fragmentation.
• The report calls for stronger policy coordination to safeguard global growth.

Key Findings

• Merchandise Trade Decline
  • Projected to shrink by 0.2% in 2025 (versus +2.9% in 2024).
  • Could worsen to –1.5% if tariff tensions escalate further.
• Impact of US–China Tariffs
  • US reciprocal tariffs may reduce global trade growth by 0.6 percentage points.
  • Ongoing USChina tariff increases could shave off another 0.8 percentage points.
• Services Trade Growth
  • Expected to expand by 4.0% in 2025.
  • Growth is tempered by spillovers from goods, trade conflicts, with transport and travel services most affected.
• Regional Export Trends
  • North America: Exports down 12.6%.
  • Asia: Exports up 1.6%.
  • Europe: Exports up 1.0%.
• Risks for LDCs
  • Limited export diversification leaves LDCs highly vulnerable to trade shocks.
  • Even small downturns can have major impacts on their economies.
• Trade Diversion Opportunities
  • Chinese exports to regions outside North America could rise by 4–9%.
  • US imports from China are declining, creating market openings for alternative suppliers, including LDCs.
• Global Economic Outlook
  • UNCTAD forecasts 2.3% global GDP growth in 2025.
  • Warns of recessionary risks and urges enhanced policy coordination to prevent fragmentation.

India’s Trade Rankings (Excluding IntraEU)

Trade Category	2025 Rank	Share	Change from Previous Year
Merchandise Exports	14th ↓	2.2%	Share unchanged
Merchandise Imports	7th ↓	3.4%	Share unchanged
Commercial Services Exports	6th ↓	5.3%	Down from 5.4%
Commercial Services Imports	6th =	4.1%	Down from 4.2%

About WTO

• Founded: 1 January 1995
• Headquarters: Geneva, Switzerland
• Director-General: Ngozi Okonjo-Iweala
• Membership: 166 members (162 UN member states, the European Union, Hong Kong, Macao, and Taiwan)

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

Indian Space Research Organisation successfully docks two satellites, power exchange starts

• ISRO’s Space Docking Experiment (SpaDeX) involves two low-Earth orbit satellites, SDX-01 and SDX-02.
• These satellites were launched aboard PSLV-C60 in December 2024 into a 470 km circular orbit at a 55° inclination, with a 66-day time gap between their launches.

Key Highlights:

• The first docking took place on January 16, 2025, followed by the first undocking on March 13, 2025.
• The second docking occurred on April 20, 2025, at 8:20 pm.
• Unlike the first docking, which required a manual hold at a 3-metre inter-satellite distance, the second docking was completed with full autonomy from a 15-metre distance.
• Power transfer operations began on April 21, 2025.
• ISRO successfully transferred electricity from SDX-02 to SDX-01 and vice versa.
• A heater element on one satellite was powered using energy from the other.
• The duration of the power transfer was approximately four minutes, and the satellite systems performed as expected.
• ISRO scientists consider energy transfer more critical than docking.
• They are studying the effects of solar energy-based power sharing, including continuous power supply, abrupt stoppages, and their impacts.
• With 50% fuel capacity remaining, ISRO is taking a slow and cautious approach to analyze outcomes and plan future maneuvers.
• Chairman N Narayanan acknowledged that the first docking attempt faced challenges, but the second attempt succeeded on the first try.
• The mission is more complex because the satellites are small (220 kg each), which makes handling more difficult.
• There is no fixed time frame for completing the remaining experiments, as the satellites have an expected lifespan of 10–15 years.
• The team has been given complete operational freedom to carry out the mission with maximum flexibility.

About ISRO:

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

Oldest serving US astronaut returns to Earth on 70th birthday

• Don Pettit, America’s oldest serving astronaut, returned to Earth on his 70th birthday, 20 April 2025.
• He was aboard the Soyuz MS-26 capsule along with Russian crewmates Alexey Ovchinin and Ivan Vagner.
• The crew spent 220 days aboard the International Space Station (ISS), completing 3,520 Earth orbits, according to NASA.
• This was Pettit’s fourth mission, bringing his total time spent in space to 590 days.
• However, John Glenn remains the oldest person to fly in orbit, having done so at age 77 in 1998.
• After landing, Pettit and the cosmonauts will undergo a readjustment to gravity.
• Pettit, born in Oregon on 20 April 1955, will be flown to Houston, Texas, while Ovchinin and Vagner will head to Star City near Moscow.
• Before leaving the ISS, the crew handed command to Japanese astronaut Takuya Onishi.
• Last month, NASA astronauts Butch Wilmore and Suni Williams returned from a delayed mission after over nine months on the ISS—much longer than the originally planned eight days, due to technical issues with their spacecraft.

About NASA:

• Established: 1958
• Headquarters: Washington, D.C., USA

CURRENT AFFAIRS: SPORTS NEWS

India’s Success at ISSF World Cup 2025: Silver Medal for 10m Air Rifle Mixed Team

• At the ISSF World Cup 2025 in Lima, Peru, India’s Rudrankksh Patil and Arya Borse secured a silver medal in the 10m Air Rifle Mixed Team event.
• They were narrowly defeated by Norway’s Jon-Hermann Hegg and Jeanette Hegg Duestad with a score of 11-17 in the gold medal match.

Key Highlights

• Silver Medal in 10m Air Rifle Mixed Team:
  • India lost to Norway in the gold medal match (11-17).
  • Second successive silver for the duo this season.
  • They had previously secured silver in Buenos Aires earlier in the season.
• India’s Overall Performance at the World Cup:
  • India has won two gold medals, three silver, and one bronze at the event.
  • The country ranks third in the overall medal standings, behind China and the USA.
• Other Performances:
  • Arjun Babuta: Secured silver in individual 10m Air Rifle but failed to qualify for further medal matches with a score of 630.0 in the mixed team event.
  • Pragati Dubey: Finished 7th in women’s trap shooting with 113 points.
  • Manu Bhaker: Currently 2nd in the women’s 25m pistol event, with Esha Singh in 6th and Simranpreet Kaur Brar in 9th after the precision stage of qualification.

India’s Medal Standing

• Current Position: 3rd in overall standings with 6 medals:
  • 2 gold
  • 3 silver
  • 1 bronze
• Leading Countries:
  • USA: 7 medals (including 4 golds)
  • China: 11 medals (including 3 golds and 3 silvers)

Key Points

• India’s Performance:
  • Silver medal in 10m Air Rifle Mixed Team at the ISSF World Cup
  • Rudrankksh Patil and Arya Borse: Second successive silver in the mixed team event.
  • India ranks third overall with 2 golds, 3 silvers, and 1 bronze.
• Other Highlights:
  • Arjun Babuta: Silver in 10m Air Rifle (individual).
  • Manu Bhaker: Competing in women’s 25m pistol with strong qualification results.
• International Competition:
  • Norway’s win over India in the mixed team final.
  • China and USA ahead of India in medal standings.

28th National Federation Senior Athletic Championship 2025:

• The 28th National Federation Senior Athletic Championship began in Kochi, with impressive performances, including two meet records and several personal bests across various events.
• The competition showcased emerging stars and seasoned athletes striving for qualification for the Asian Championships in Gumi, South Korea.

Men’s Javelin and Sachin Yadav’s Golden Throw

• Sachin Yadav (Uttar Pradesh), the National Games gold medalist, claimed gold in the men’s 800g javelin, throwing 83.86 meters in his fifth attempt.
  • Seven out of the eighteen participants in this event crossed the Asian Championship qualification mark of 75.36 meters.
• Yashvir Singh (Railways) finished second with 80.85 meters, and Sahil Silwal (Reliance) earned bronze with 77.84 meters.
• Kishore Kumar Jena (Olympian and Asian Games silver medalist) struggled, finishing fourth with a throw of 77.15 meters in his second attempt. He fouled three throws.

Key Highlights

• Sawan Barwal’s Record-Breaking Performance:
  • Sawan Barwal (Army) broke the 18-year-old meet record in the Men’s 10,000m, finishing in 28:57.13 seconds, surpassing Surender Singh’s record of 28:57.90 set in 2007.
  • Barwal won by a significant margin, with Abhishek Pal (Railways) finishing 36 seconds behind.
  • Both athletes qualified for the Asian Championship.
• Drama in the 100m Men’s Race:
  • Pranav Pramod (Railways) clinched the gold with a personal best of 10.27 seconds.
  • Gurindervir Singh (Punjab), the national record holder, finished last with 11.21 seconds.
  • Manikanta Hoblidhar (Karnataka) set a meet record of 10.25 seconds in the heats but finished third in the final.
  • The qualifying standard for the Asian Championship in this event was 10.25 seconds.
• Women’s 100m: Nithya Gandhe’s Victory:
  • Nithya Gandhe (Telangana) emerged as the fastest woman in the meet, completing the 100m in 11.50 seconds.
• Women’s 10,000m:
  • Sanjivani Jadhav (Maharashtra) won gold with a time of 33:44.43 seconds.
• Men’s 1500m:
  • Yoonus Shah (JSW) claimed gold with a time of 3:41.93 seconds, achieving the Asian qualification mark.
• Women’s 1500m:
  • Lili Das (Uttarakhand) and Pooja (Haryana) both crossed the Asian qualification time of 4:15.00 in their respective events.
• Women’s Pole Vault:
  • Pavithra Venkatesh (Tamil Nadu) secured gold.

CURRENT AFFAIRS: IMPORTANT DAYS

World Book and Copyright Day 2025: April 23

• Every year World Book and Copyright Day is celebrated on April 23 and it is also known as World Book Day.
• The day is celebrated by the United Nations, Educational, Scientific, and Cultural Organizations, and other related organizations across the world to honor authors, and books, and to promote the art of reading etc.
• The copyright is a legal concept enacted by most governments, giving authors or creators of original work exclusive rights usually for a limited time. It is the right to copy.

History

• The United Nations, Educational, Scientific and Cultural Organizations has selected 23rd April as World Book Day to pay tribute to great literary figures including William Shakespeare, Miguel Cervantes, and Inca Garcilaso de la Vega who died this day.
• In 1995 this date was finalized by the United Nations, Educational, Scientific and Cultural Organizations general conference, held in pairs, to pay tribute to and honor authors and books worldwide.
• The idea to celebrate a day of books came originally from the Catalan Day of Books called Dia del Llibere. Dia del Llibere is celebrated in Catalonia every year on April 23.

English Language Day 2025: April 23

• Every year April 23rd is celebrated as English Language Day.
• The day was chosen because it is thought to be William Shakespeare’s birthday and the anniversary of his death.

History

• The English Language Day is celebrated as a mark of respect and to celebrate the life and work of English poet and writer William Shakespeare.
• He was born on 23rd April 1564 and died on 23rd April 1616.
• His new words are like new-fangled, dauntless, lackluster, multitudinous, arch-villain, etc.
• The day was established by the UN Department of Global Communications in 2010.
• English is one of the two working languages of the UN.
• In total, there are six official languages of the United Nations.
• They are English, Arabic, Chinese, French, Spanish, and Russian.

Daily CA One- Liner: April 23

• India’s smartphone export industry has achieved a historic milestone in the financial year 2024–25 (FY25), with exports crossing ₹2 lakh crore for the first time.
• India and the United States have made significant strides towards finalizing a Bilateral Trade Agreement. Prime Minister Narendra Modi and US Vice-President JD Vance expressed satisfaction over the progress in negotiations for the agreement, which is expected to benefit both nations economically.
• In alignment with the National Education Policy (NEP) 2020, the Maharashtra government has announced a major curriculum overhaul, introducing Hindi as a compulsory third language for students of Classes 1 to 5 in English and Marathi-medium schools.
• The 25th Laureus World Sports Awards took place in Madrid, honouring the year’s most outstanding athletes and teams.
• Tata Power Renewable Energy Ltd. (TPREL), a subsidiary of Tata Power, has signed a power purchase agreement (PPA) with Tata Motors under the group captive model to jointly develop a 131 MW wind-solar hybrid renewable energy plant.
• The World Trade Organization (WTO) projects a 0.2% decline in global merchandise trade for 2025, driven by persistent tariff disputes—notably between the United States and China
• At the ISSF World Cup 2025 in Lima, Peru, India’s Rudrankksh Patil and Arya Borse secured a silver medal in the 10m Air Rifle Mixed Team event.
• The 28th National Federation Senior Athletic Championship began in Kochi, with impressive performances, including two meet records and several personal bests across various events.
• Minors aged 10 years and above can be permitted to independently open and operate savings/term deposit accounts.
• The RBI has mandated a 2.5% additional run-off factor (liquidity buffer) for retail and small business customer deposits enabled with internet and mobile banking (IMB) facilities.
• Punjab National Bank (PNB) celebrated its 131st Foundation Day on April 12, 2025.
• SEBI has extended its automated trading freeze mechanism, which previously applied only to designated persons (DPs), to now include their immediate relatives in listed companies.
• Indian government bond yields fell sharply as underlying sentiment remained bullish, with markets anticipating further liquidity infusion from the central bank as well as rate cuts. The benchmark 10-year yield ended at 6.3164%, compared with its previous close of 6.3709%, and its lowest since November 9, 2021.
• Listed fintech startup MobiKwik has partnered with Poonawalla Fincorp to offer instant personal loans of up to INR 15 Lakh to its customers.
• In a decisive move to protect the Indian steel sector, the Central Government has imposed a 12% safeguard duty on imports of certain non-alloy and alloy steel flat products.
• India’s infrastructure output, which constitutes about two-fifths of the country’s industrial production, increased by 8 percent in March 2025 on an annual basis.
• The Khadi and Village Industries sector has achieved remarkable progress in the past eleven years, under the leadership of Prime Minister Narendra Modi, promoting self-reliance and boosting the country’s economy.
• Klaus Schwab, founder of the World Economic Forum (WEF), has resigned as Chair of its Board of Trustees.
• Jitendra Mishra, acclaimed Indian filmmaker, has been unanimously elected as President of the International Centre of Films for Children and Young People (CIFEJ) for the 2025–2027 term.
• Don Pettit, America’s oldest serving astronaut, returned to Earth on his 70th birthday, 20 April 2025.
• Ananya Panday Becomes Chanel’s First-Ever Indian Brand Ambassador.
• ISRO’s Space Docking Experiment (SpaDeX) involves two low-Earth orbit satellites, SDX-01 and SDX-02.
• Every year World Book and Copyright Day is celebrated on April 23 and it is also known as World Book Day.
• Every year April 23rd is celebrated as English Language Day