Daily Current Affairs April 24th 2025 | Latest News | Download PDF

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CURRENT AFFAIRS: BANKING, FINANCE & BUSINESS

Securities and Exchange Board of India announces changes in NAV cut-off time for Mutual Fund Overnight Schemes

• SEBI has announced a change in cut-off timings for determining NAV (Net Asset Value) related to repurchase/redemption of units in Overnight Mutual Fund Schemes (MFOS).
• The new rule aims to help stock brokers (SBs) and clearing members (CMs) to un-pledge units and place redemption requests after market hours.
• For applications received up to 3 pm, the closing NAV of the day before the next business day will apply.
• For applications after 3 pm, the closing NAV of the next business day will apply.
• For online applications, a separate cut-off timing of 7 pm will apply.
• These changes will come into effect from June 1.
• MFOS allows SBs/CMs to invest client funds in overnight government securities, ensuring minimal risk.
• These schemes invest only in risk-free overnight repo and Tri-party Repo Dealing and Settlement (TREPS)
• MFOS units must be in demat form and are mandatorily pledged with a clearing corporation.
• Sebi noted that overnight schemes invest in one-day maturity securities, and for redemptions, they can withhold reinvestment rather than sell securities before market hours.

Recent News:

• As of March 2025, the Securities and Exchange Board of India (SEBI) experienced a 48% year-on-year rise in total income, reaching ₹2,075 crore in FY 2023-24, largely due to higher revenue from fees and subscriptions.

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.

Reserve Bank of India cancels licence of Aurangabad-based Ajantha Urban Co-op Bank Maryadit

• The Reserve Bank of India (RBI) has cancelled the licence of Ajantha Urban Co-operative Bank Maryadit,
• The action was taken because the bank lacks adequate capital and has poor earning prospects.
• As of April 22, 2025, the bank has ceased all banking operations.
• The Registrar of Cooperative Societies, Maharashtra, has been requested to initiate winding up and appoint a liquidator.
• Upon liquidation, depositors will be eligible to receive up to ₹5 lakh per depositor under Deposit Insurance and Credit Guarantee Corporation (DICGC).
• According to RBI data, 55% of depositors will receive full reimbursement of their deposits through DICGC.
• As of April 3, 2025, DICGC has already paid ₹275.22 crore of the total insured deposits.
• The RBI stated that the bank’s current financial state prevents it from fully repaying its depositors.
• Allowing the bank to continue operations would be against public interest and prejudicial to depositors’ interests.
• Post-cancellation, the bank is prohibited from all banking activities, including acceptance or repayment of deposits.

Recent News:

• As of April 2025, the Reserve Bank of India has revised its guidelines to permit minors aged 10 years and above to independently manage their savings and term deposit accounts, fostering early financial engagement.

About RBI :

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

International Monetary Fund cuts India’s growth forecast to 6.2% in FY26 amid tariff uncertainty

• The International Monetary Fund (IMF) has revised India’s GDP growth forecast for FY26 to 6.2%, down from 6.5%.
• The revision is attributed to global uncertainties and rising trade tensions.
• Despite the cut, India remains one of the fastest-growing major economies
• The IMF warned of persistent inflation, geo-economic fragmentation, and financial market volatility as major risks.
• The global growth outlook has also been impacted by slowing trade, geopolitical conflicts, and tight financial conditions.
• In its World Economic Outlook, the IMF retained the global growth forecast at 3.2% for 2024 and 2025.
• The IMF emphasized the need for structural reforms, fiscal prudence, and enhancing productivity in India to sustain long-term growth.
• India’s inflation rate, while moderating, still poses a risk to consumption and investment sentiment.

About International Monetary Fund (IMF):

• The International Monetary Fund (IMF) is a global financial institution that promotes international monetary cooperation, financial stability, and economic growth while providing financial assistance to member countries facing balance of payments issues.
• Founded Year: 1944
• Headquarters: Washington, D.C., United States
• Managing Director: Kristalina Georgieva
• Members: 191 countries

Trade war’s hit on Indian economy likely to be limited, says RBI bulletin

• India’s economy is relatively less vulnerable to global headwinds and calibrated policy support can help the country turn global volatility into an opportunity and strengthen its position in the emerging world economic landscape, stated the Reserve Bank of India’s (RBI) April Bulletin

Key Highlights:
1. Domestic Growth Engines Stay Strong

• Consumption and investment — the two key drivers of domestic growth — are expected to face limited impact from global trade wars.
• India’s low external vulnerability and robust macroeconomic framework contribute to this resilience.

2. 2. Liquidity & Monetary Measures

• RBI’s liquidity support measures (since mid-January) have:
  • Helped maintain orderly conditions in the money markets.
  • Led to softening interest rates on short-term instruments like CDs, CPs, and T-bills.
• Reduced risk weights on bank loans (effective April 1) expected to boost NBFC funding.

3. External Buffers & Investment Appeal

• Foreign exchange reserves: $677.8 billion (April 11), offering 11 months’ import cover.
• External debt to GDP ratio: only 19%, indicating low vulnerability.
• Continued strength in services exports and remittances supports the current account.
• India remains a preferred investment destination due to macroeconomic stability.

4. Sectoral Outlook

• Agriculture is expected to maintain momentum due to:
  • Strong kharif and rabi harvests.
  • Favorable reservoir levels supporting summer sowing.
• Industrial and services sectors continue to show resilience.

5. Caution Flags

• Rising temperatures and possible heatwaves (April–June) could affect agriculture and consumption.
• Global uncertainties still pose downside risks to growth.

6. Optimism from Industry

• Surveys of industry groups, credit rating agencies, and banks indicate:
  • Optimism in economic activity.
  • Rising rural and urban consumption.
  • Moderating inflation bolstering sentiment.

Outward remittances under Reserve Bank of India’s (RBI’s) Liberalised Remittance Scheme (LRS) declined 8.2% in April-February

• Outward remittances under the Reserve Bank of India’s (RBI’s) Liberalised Remittance Scheme (LRS) during April 2024-February 2025 of FY25 continue to be lower than last year.
• Total outward remittances from April 2024 to February 2025: $27.02 billion, showing a drop of 8.21% YoY compared to $29.43 billion last year.
• International travel segment: $15.84 billion, down 1% YoY from $16 billion.
• Maintenance of close relatives: $3.30 billion, down 22% YoY.
• Overseas education: $2.76 billion, down 16% YoY.
• Purchase of immovable property: $277.7 million, up 28.32% YoY.

In February 2025:

• Total remittances: $1.96 billion, down 2.44% YoY from $2.01 billion.
• International travel: $1.09 billion, up 3.5% YoY.
• Overseas education: $182.17 million, down 26.19% YoY.
• Maintenance of close relatives: $235 million, down 11.78% YoY.

What is LRS?

• LRS typically refers to the Liberalized Remittance Scheme, a policy by the Reserve Bank of India (RBI) allowing resident individuals to remit up to USD 250,000 per financial year for permissible transactions.
• This scheme simplifies the process of sending money abroad.

Reserve Bank of India directs Banks to Shift to “bank.in” Domains by October 31

• The Reserve Bank of India (RBI) has set a deadline of October 31, 2025, for all banks to transition their digital operations to the ‘Bank.in’
• This move aims to improve the security infrastructure of online banking services and make digital banking more secure and user-friendly.
• The transition to a unified domain is in response to the increasing cybersecurity threats posed by cybercriminals exploiting vulnerabilities in online platforms.
• Banks will need to update their IT infrastructures to comply with the new requirements, ensuring a seamless and secure banking experience for customers.
• The RBI’s circular, issued on April 22, references the February 7, 2025, policy on “Enhancing Trust in the Financial Sector through ‘bank.in’ and ‘fin.in’ domains to combat digital fraud.
• The Institute for Development and Research in Banking Technology (IDRBT) will help banks with the registration and migration process, in collaboration with the National Internet Exchange of India (NIXI) and the Ministry of Electronics and Information Technology (MeitY).

AU Small Finance Bank Rolls Out Elite Concierge Services for AU ivy and AU Eternity Program Members

• AU Small Finance Bank (AU SFB), India’s largest small finance bank, has launched Concierge Services for its premium banking programs – AU ivy and AU Eternity.
• These services are designed for Ultra High Net-worth Individuals (UHNI) and go beyond traditional banking by offering bespoke lifestyle privileges.
• The Concierge Services cover travel planning, luxury stays, education support, premium dining, airport assistance, golf access, shopping perks, luxury experiences, elite event invitations, and digital banking solutions.
• Travel benefits include partnerships for domestic and international luxury travel, hotels, and villas.
• Education support is available for students going abroad, offering assistance from planning to post-departure.
• Dining privileges involve exclusive culinary experiences and premium offers through partners.
• Airport services include complimentary cab transfers, premium lounge access, and meet & greet.
• Clients can access elite golf courses through service providers.
• Shopping and gifting perks include deals with luxury brands, invitations to exclusive events, and access to limited-edition items.
• Luxury experiences feature limousine pickups, yacht charters, and private events with celebrity chefs and mixologists.
• Event invitations include private screenings, sit-down dinners, and cookout evenings.
• The bank provides advanced digital banking solutions tailored for premium clients.

About AU SFB:

• AU SFB was founded in 1996 by Sanjay Agarwal and became a scheduled commercial bank in April 2017.
• AU SFB maintains strong credit ratings: ‘AA/Stable’ from CRISIL, ICRA, CARE, and India Ratings, and ‘AA+/Stable’ for Fixed Deposits from CRISIL.
• Executive Director & Deputy CEO: Uttam Tibrewal

World Bank Lowers India’s FY26 Growth Forecast to 6.3% Amid Global Economic Challenges and Policy Uncertainty

• The World Bank has revised India’s growth forecast for FY26 to 6.3%, down by 0.4 percentage points compared to the previous projection of 6.7% due to global economic weakness and policy uncertainty.

Factors Affecting Growth:

• Private Investment: The benefits of monetary easing and regulatory streamlining are expected to be offset by global economic weakness and policy uncertainty.
• Private Consumption: Expected to benefit from tax cuts.
• Public Investment: Improved implementation of public investment plans should boost government investment.
• Export Demand: Constrained by shifts in trade policy and slowing global growth.

Key Highlights :

• Growth Projections for South Asia: The World Bank has downgraded South Asia’s growth projection for FY25 to 5%, down by 0.5 percentage points from previous projections.
• The region’s growth is expected to be constrained by fiscal vulnerabilities and climate-related shocks.
• Regional Economic Weakness: The growth projections for most South Asian countries, including Bangladesh and Pakistan, have been revised downward due to political uncertainty, financial challenges, and global economic pressures.

Tax and Revenue Issues:

• South Asia’s average government revenue is 18% of GDP, which is lower than the 24% of GDP average for other developing economies.
• There are significant revenue shortfalls in consumption taxes as well as corporate and personal income taxes.
• India’s Economic Challenges: India’s growth slowed from 9.2% in FY24 to an estimated 6.5% in FY25, marking the slowest pace in four years, although still in line with the economy’s long-term average.
• Impact of Global Uncertainty: Both the World Bank and IMF have highlighted the negative impact of global economic weakness, trade tensions, and policy uncertainty on India’s economic growth.
• Bangladesh’s Growth: Growth in Bangladesh is expected to slow to 3.3% in FY24/25 amid political uncertainty and financial challenges, with a downgraded rebound forecast of 4.9% in FY25/26.
• Pakistan’s Economic Recovery: Pakistan is expected to grow by 2.7% in FY24/25 and 3.1% in FY25/26, recovering from natural disasters, inflation, and external pressures.
• Sri Lanka’s Growth Outlook: Sri Lanka is projected to see a rebound in investment and external demand, leading to growth of 3.5% in FY25, followed by 3.1% in FY26.

About World Bank:

• The World Bank is an international financial institution that provides loans and grants to the governments of low and middle-income countries for the purpose of pursuing capital projects.
• The World Bank consists of 5 institutions: The International Bank for Reconstruction and Development (IBRD), The International Development Association (IDA), The International Finance Corporation (IFC), The Multilateral Investment Guarantee Agency (MIGA), and The International Centre for Settlement of Investment Disputes (ICSID).
• Founded Year: 1944
• Headquarters: Washington, D.C., United States
• President: Ajay Banga
• Members:189 countries

CURRENT AFFAIRS: NATIONAL NEWS

India’s Direct Benefit Transfer (DBT) System: Revolutionizing Welfare Delivery

• India’s Direct Benefit Transfer (DBT) system has transformed welfare delivery, enabling significant fiscal savings and increasing the efficiency of government expenditure.
• Launched to address subsidy leakages and inefficiencies, DBT has been instrumental in improving the reach of social programs.
• According to a report by the BlueKraft Digital Foundation, DBT has saved ₹3.48 lakh crore from 2009 to 2024, with the number of beneficiaries growing by 16 times.

Key Findings

1. Budgetary Allocation Trends
   • Pre-DBT Era (2009–2013):
     • Subsidies accounted for 16% of total government expenditure.
     • Subsidy allocation was ₹2.1 lakh crore annually, with significant inefficiencies and leakages.
   • Post-DBT Era (2014–2024):
     • Subsidy expenditure reduced to 9% of total expenditure by 2023-24.
     • Beneficiaries increased from 11 crore to 176 crore (a 16-fold increase).
   • COVID-19 Outlier:
     • A temporary spike in subsidies occurred during the 2020-21 fiscal year due to emergency fiscal measures.
     • Post-pandemic, efficiency rebounded, showing long-term benefits of DBT.

2. Sectoral Impact Analysis
   • Food Subsidies (PDS):
     • ₹1.85 lakh crore saved, accounting for 53% of total DBT savings.
     • Aadhaar-linked ration cards helped curb leakages.
   • MGNREGS (Mahatma Gandhi National Rural Employment Guarantee Scheme):
     • 98% of wages were transferred on time, saving ₹42,534 crore.
   • PM-KISAN (Pradhan Mantri Kisan Samman Nidhi):
     • ₹22,106 crore saved by eliminating 2.1 crore ineligible beneficiaries.
   • Fertilizer Subsidies:
     • ₹18,699.8 crore saved by ensuring targeted disbursements and reducing fertilizer sales.

3. Correlation and Causality Findings
   • Positive Correlation (0.71):
     Strong correlation between beneficiary coverage and DBT savings. As more people are covered, savings increase.
   • Negative Correlation (-0.74):
     A significant negative correlation between subsidy expenditure as a percentage of total expenditure and welfare efficiency, showing that DBT has significantly reduced leakages and inefficiencies.
4. Welfare Efficiency Index (WEI)
   • Components of WEI:
     • DBT Savings (50% weight): ₹3.48 lakh crore saved due to leakage reduction.
     • Subsidy Reduction (30% weight): Reduction of subsidy expenditure from 16% to 9%.
     • Beneficiary Growth (20% weight): 16-fold expansion in the number of beneficiaries.
   • WEI Growth:
     The Welfare Efficiency Index (WEI) increased from 0.32 in 2014 to 0.91 in 2023, indicating a dramatic improvement in the efficiency of welfare programs.

Union Health Department Launches Fire Safety Week 2025 to Strengthen Healthcare Safety

• From April 21–25, 2025, the Union Health Department, in collaboration with all States, Union Territories, and relevant Central Ministries, is conducting Fire Safety Week.
• Led by Health Secretary Punya Salila Srivastava, the initiative aims to bolster fire and electrical safety across public and private healthcare facilities through awareness, training, and audits.

Key Highlights

• Purpose
  • Prioritise fire prevention and safety protocols in healthcare settings
  • Enhance emergency preparedness and patient evacuation procedures
• Duration
  • April 21–25, 2025
• Launch Event
  • Pledge ceremony at Nirman Bhawan, New Delhi, led by Secretary Srivastava
• Participation
  • 3,000+ representatives from public and private health facilities (virtual)
  • Senior officials from the Ministry of Health (in person)

CURRENT AFFAIRS: STATE NEWS

SJVN Releases ₹269.97 Crore Land Compensation for Etalin Hydro Electric Project

• In a major push for renewable energy in Northeast India, SJVN Limited (Satluj Jal Vidyut Nigam) released ₹269.97 crore as land compensation for the Etalin Hydro Electric Project (3,097 MW) in Dibang Valley, Arunachal Pradesh.
• This marks a significant milestone in India’s hydropower development efforts.

Key Highlights

Project Features

• Dam Construction:
  • On the Dri River
  • On the Talo (Tangon) River
• Other Components:
  • Underground powerhouse complex
• Expected Commissioning: December 2033

Background: MoA with Arunachal Pradesh Government

• Agreement Signed: August 2023
• Parties Involved: SJVN Ltd and Government of Arunachal Pradesh
• Scope of MoA:
  • Etalin Hydro Electric Project (3,097 MW)
  • Four Additional Hydro Projects
• Total Hydropower Capacity Under Agreement: 5,097 MW
• Estimated Total Investment: ₹60,000 crore

RECENT NEWS

• A two-day conclave titled ‘Buddha Dhamma and the Culture of Northeast India’ will be held in Namsai, Arunachal Pradesh, starting from April 21, 2025.

Yashraj Bharti Samman 2025: Honoring Grassroots-Level Contributions

• The Yashraj Bharti Samman, now in its 3rd edition, celebrates grassroots organizations making a measurable impact in healthcare, education, and governance.
• The 2025 ceremony took place in Mumbai, presided over by Maharashtra Governor C.P. Radhakrishnan.

Awardees and Their Contributions

• Jan Swasthya Sahayog (Chhattisgarh)
  Recognized for delivering expert healthcare to remote tribal communities, ensuring equitable access and affordable services.
• Pratham Education Foundation
  Honoured for advancing sustainable development through education, notably via the ASER report to assess and improve learning outcomes nationwide.
• Services Plus Platform (NIC)
  Awarded for its digital governance platform, which delivers transparent, citizen-centric e-services and strengthens public service delivery.

Ceremony Details

• Date & Venue: Mumbai, organized by Raj Bhavan
• Chief Guest: Governor C.P. Radhakrishnan (Maharashtra)
• Dignitaries Present:
  • Dilip Walse Patil, former Maharashtra Assembly Speaker
  • Amitabh Kant, India’s G-20 Sherpa

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.
• In April 2025, Maharashtra government announced the renaming of the historic town Khultabad to its original name, Ratnapur.
• In April 2025,The 62nd National Maritime Day and Merchant Navy Week were officially inaugurated by Maharashtra Governor C P Radhakrishnan at Raj Bhavan, Mumbai.

CURRENT AFFAIRS: AWARDS AND HONOURS

Achyuta Samanta Honoured with Gurudev Kalicharan Brahma Award 2025

• Achyuta Samanta, founder of KIIT and KISS, has been conferred the Gurudev Kalicharan Brahma Award 2025 for his notable contributions to education and social empowerment, especially among tribal and underprivileged communities.

Key Highlights

• Award Name: Gurudev Kalicharan Brahma Award
• Presented By: Gurudev Kalicharan Brahma Trust
• Objective: To honour individuals with impactful contributions in the fields of education, social reform, and community welfare
• Occasion: Conferred annually on the birth anniversary of Gurudev Kalicharan Brahma
• Year of Birth Anniversary: 166th
• Award Components: Citation, memento, and ₹1 lakh cash prize
• Venue of Ceremony: Kokrajhar, Assam

About the Recipient – Achyuta Samanta

• Founder of:
  • KIIT (Kalinga Institute of Industrial Technology)
  • KISS (Kalinga Institute of Social Sciences)
• Key Contributions:
  • Promoted inclusive and affordable education for tribal and rural youth
  • Empowered thousands of underprivileged children through free education, accommodation, and healthcare
• Public Image: Recognized nationally for using education as a tool for societal change

Legacy of Gurudev Kalicharan Brahma

• Identity: Spiritual leader and social reformer of the Bodo community
• Known As: “Mech Gandhi of Assam”
• Vision: Advocated for education-led transformation and upliftment of society
• Award Significance: Aims to continue his mission by recognizing those who promote education and reform

PoshanTracker Wins PM’s Award for Excellence in Public Administration 2024

• The PoshanTracker Application, developed by the Ministry of Women and Child Development (MoWCD), received the Prime Minister’s Award for Excellence in Public Administration 2024 under the Innovation (Centre) category.
• The award was presented during the 17th Civil Services Day, celebrated on April 21, 2025, in New Delhi.

Key Highlights

• Event: 17th Civil Services Day
• Date: April 21, 2025
• Award: Prime Minister’s Award for Excellence in Public Administration 2024
• Category: Innovation (Centre)
• Application Awarded: PoshanTracker
• Developed By: Ministry of Women and Child Development (MoWCD)
• Award Received By: Shri Anil Malik, Secretary, MoWCD

About the PoshanTracker

• Purpose: Enhances nutrition outcomes via data-driven governance
• Under Mission: Saksham Anganwadi and POSHAN 2.0
• Technology: Integrates real-time monitoring, beneficiary tracking, and service delivery
• Impact: Promotes accountability, better convergence, and efficient resource utilization at the grassroots level

Priyanka Chopra to be honoured at fourth annual Gold House Gold Gala

• The Gold House Gold Gala returns at the Music Centre in Downtown Los Angeles.
• Now in its 4th edition, this star-studded celebration will convene over 600 influential guests to honour trailblazing figures in Asian Pacific culture and mark the upcoming A100 List

Event Details

• Venue: Music Centre, Downtown Los Angeles
• Expected Attendance: 600+ guests
• Preceding Announcement: 2025 A100 List revealed on May 1, recognising the top 100 Asian Pacific changemakers.

Notable Honorees and Awards

• Priyanka Chopra
  • Award: Inaugural Global Vanguard Honor
  • Recognition: Celebrates her 25-year career spanning Bollywood and Hollywood, and her advocacy for underrepresented voices.
• Ang Lee
  • Award: Lifetime Achievement in Global Cinema
  • Recognition: Acclaimed for films such as Crouching Tiger, Hidden Dragon and Life of Pi, and for advancing Asian representation.
• Megan Thee Stallion
  • Award: Cultural Impact Award
  • Recognition: Honoured for her influence in music, pop culture, and social advocacy, and for championing Asian Pacific narratives.
• Jon M. Chu
  • Award: Visionary Filmmaker Award
  • Recognition: Celebrated for groundbreaking films like Crazy Rich Asians and Wicked, reshaping mainstream portrayals of Asian communities.

Theme of the Gala: “First Light”

• Symbolism: Honours those who were the “first” in their field or identity, and who have illuminated pathways for future generations.
• Mission: To launch the next wave of culture, as articulated by Gold House CEO Bing Chen.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Campbell Wilson to step down as AI Express Chairman; Nipun Aggarwal to assume chairmanship

• Campbell Wilson, CEO and MD of Air India, has stepped down as Chairman of Air India Express.
• Nipun Aggarwal, Chief Commercial Officer of Air India, will take over as the new Chairman of Air India Express.
• The change is part of Tata Group’s restructuring of its airline businesses.
• This follows the merger of Air India Express with AIX Connect (formerly AirAsia India).
• Wilson had been serving as Chairman of Air India Express since June 2022.
• The group’s focus now shifts to optimizing fleet, network, sales, distribution, and loyalty programs.
• Captain Basil Kwauk, Chief Operations Officer of Air India, will join the Air India Express board, subject to regulatory approvals.
• The move is aligned with Tata Group’s broader strategy to consolidate airline operations, including merging Vistara with Air India.

Government re-appoints Rabi Sankar as Reserve Bank of India Deputy Governor

• The central government has re-appointed T Rabi Sankar as the RBI’s Deputy Governor for one more year.
• His re-appointment will be effective from May 3, according to the Appointments Committee of the Cabinet.
• This is the second extension of T Rabi Sankar’s term as Deputy Governor.
• He was first appointed in May 2021 for a three-year term and received a one-year extension in May 2024.
• Sankar currently heads 13 departments at the RBI.
• In January 2025, he was given additional charge of the financial market regulations and the fintech department.
• He also oversees the currency management, external investment and operations, and foreign exchange
• He played a key role in the development of the Central Bank Digital Currency (CBDC).
• T Rabi Sankar joined the Reserve Bank in 1990 and has served as Executive Director, handling payments, IT, and risk.
• He has worked as a consultant to the IMF and holds an M.Phil in Economics from Jawaharlal Nehru University.
• He serves under RBI Governor Sanjay Malhotra, appointed in December 2024.
• The other three Deputy Governors are Poonam Gupta, Swaminathan Janakiraman, and M Rajeshwar Rao.

Aircraft manufacturing company Boeing Names Stacie Sire as Vice President and Managing Director of India Engineering Centre

• Stacie Sire has been appointed as the Vice President and Managing Director of the Boeing India Engineering & Technology Center (BIETC).
• Additionally, she has been named as the Chief Engineer for Boeing India.
• Stacie Sire succeeds Ahmed Elsherbini, who held the position from April 2021 to January 2025.
• Elsherbini has moved on to a new role as Senior Vice President and General Manager and Head of Boeing Global Engineering.

Role and Responsibilities:

• As Vice President and Managing Director, Sire will oversee strategy, operations, and team capabilities for BIETC in India.
• As Chief Engineer for Boeing India, she will manage engineering strategy and innovation across India-based programs.
• Sire will be based in Bengaluru, where she will work on advancing BIETC’s goals and priorities.

About Stacie Sire : 

• Sire has 27 years of leadership experience at Boeing, having previously held roles such as Director and Chief Engineer in various Boeing commercial airplane programs (e.g., 767/777 airframe, 787 airframe).
• She has led teams in engineering integration, propulsion structures/systems, and manufacturing engineering.

About BIETC Facility:

• The Boeing India Engineering & Technology Center (BIETC) was launched in January 2024.
• It is Boeing’s largest investment facility outside of the USA, with an investment of ₹1,600 crore.

CURRENT AFFAIRS: ACQUISITION & MERGERS

Competition Commission of India (CCI) Approves Bharat Forge-AAM Deal with Modifications

• The Competition Commission of India (CCI) has approved Bharat Forge Ltd’s acquisition of AAM India Manufacturing Corporation Pvt Ltd.
• The approval was granted after accepting voluntary modifications proposed by both companies.
• The exact details of the modifications were not disclosed.
• In the previous month, CCI had sought public comments after prima facie concerns that the deal could adversely impact competition.
• The deal has been cleared “subject to compliance” with the modifications offered by the companies.
• Bharat Forge is a major player in the forged components and engineering solutions sector.
• AAM India Manufacturing Corporation specializes in the manufacturing and sale of axles for commercial vehicles in India.
• CCI approval is mandatory for deals that exceed a certain threshold, to prevent unfair business practices in various sectors.

About CCI:

• The Competition Commission of India (CCI) is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act of 2002.
• Founded: October 14, 2003
• Headquarters: New Delhi, India
• Chairperson: Ravneet Kaur

Ambuja Cements Completes 37.8% Stake Acquisition in Orient Cement

• Ambuja Cements, owned by the Adani Group, has completed the acquisition of a 37.8% promoters’ stake in Orient Cement Limited (OCL), thereby becoming the promoter of the company.
• With this acquisition, Ambuja Cements’ total shareholding in OCL has increased to 46.66%, including the acquisition of 1.82 crore shares (8.87%) from public shareholders.
• The acquisition was part of Ambuja Cements’ expansion strategy and was announced in October 2024. The deal was valued at ₹8,100 crore.

Key Highlights : 

• Board Changes: Following the acquisition, directors from the CK Birla Group, including Chandrakant Birla, Amita Birla, and Desh Deepak Khetrapal, resigned from OCL’s board. Additionally, four independent directors also resigned.
• CFO Replacement: Prakash Chand Jain was replaced by Kajal Sarda as the CFO, effective April 23, 2025.
• New Board Appointments: The new board, led by Ambuja Cements, appointed Vaibhav Dixit as executive director, and Vinod Bahety as chairman and non-executive non-independent director.
• Additionally, three new independent directors — Sudhir Nanavati, Shruti Shah, and Ravi Kapoor — were appointed.
• Implications: Ambuja Cements now holds sole control over OCL and has taken over the role of the promoter, marking a significant shift in OCL’s leadership and corporate governance structure.

About Ambuja Cements: 

• Founded: 1983
• Headquarters: Mumbai, Maharashtra, India
• Chairman: Gautam Adani
• CEO: Vinod Bahety
• Ambuja Cements Limited, formerly known as Gujarat Ambuja Cement Limited (GACL), is a major Indian cement producing company.

CURRENT AFFAIRS: RANKING AND REPORTS

TIME Magazine’s 100 Most Influential People 2025: No Indian Names on the List

• The 2025 edition of TIME Magazine’s 100 Most Influential People highlights globally recognized leaders and innovators.
• This year, the list includes figures such as Donald Trump, Elon Musk, Keir Starmer, and Muhammad Yunus—but notably, no Indian nationals have been featured, unlike in 2024 when personalities like Alia Bhatt and Sakshi Malik made the list.

Key Global Figures Featured

• Donald Trump
  • Current President of the United States
  • Recognized for his continued influence in global politics and policy-driven leadership
  • Known for his unconventional style and strong political base
• Elon Musk
  • CEO of Tesla and SpaceX, owner of X (formerly Twitter)
  • Honored for pioneering innovation in EVs, AI, and space exploration
  • Remains a dominant force in global technological advancement
• Keir Starmer
  • Newly elected Prime Minister of the United Kingdom
  • Credited for reviving the UK Labour Party and steering it to victory
  • Seen as a reform-oriented and stabilizing leader in British politics
• Muhammad Yunus
  • Nobel Peace Prize laureate and microfinance pioneer from Bangladesh
  • Acknowledged for promoting social entrepreneurship and poverty alleviation
  • Continues to shape global development discourse through financial inclusion

Notable Absence

• No Indian personalities featured in the 2025 list
• Contrast with 2024, which included Alia Bhatt (actress) and Sakshi Malik (Olympic wrestler)

Overall Theme of 2025 Edition

• The list reflects a balance of political leadership, technological disruption, and social innovation
• Emphasizes the global impact of individuals shaping the narrative of the 21st century

CURRENT AFFAIRS: SPORTS NEWS

Nishchay Clinches Silver with Personal Best in Shot Put at Asian U-18 Athletics Championships

• At the Asian U-18 Athletics Championship in Dammam, Saudi Arabia, 16-year-old Nishchay from Haryana secured the silver medal in the boys’ shot put on the third day of competition.
• His throw of 19.59 meters marked a personal best, eclipsing his previous record of 18.93 meters.

Key Highlights

• Event: Asian U-18 Athletics Championship, Dammam, Saudi Arabia
• Athlete: Nishchay (16 years old, Haryana)
• Medal: Silver in boys’ shot put
• Performance Day: Third day of the championship
• Personal Best: 19.59 meters (previous best 18.93 meters)
• Second Medal: This was Nishchay’s second podium finish at the same meet

RECENT NEWS

• In February 2025, In July 2023, the International Olympic Committee (IOC) made a groundbreaking decision to introduce the Olympic Esports Games, marking a significant step in bridging the gap between esports and traditional sports. In this historic move, Saudi Arabia has been selected to host the first-ever Olympic Esports Games in 2027.

Wisden Almanack 2025: Jasprit Bumrah and Smriti Mandhana Crowned Leading Cricketers

• The Wisden Cricketers’ Almanack 2025 has named Jasprit Bumrah and Smriti Mandhana as its Leading Cricketers in the World, recognising their outstanding performances across formats in 2024.
• The edition also highlights the year’s Five Cricketers of the Year, an Outstanding Performance, and pays tributes to retiring legends.

Leading Cricketers of the Year

• Jasprit Bumrah (Leading Men’s Cricketer)
  • First Test bowler to reach 200 wickets at an average below 20.
  • Claimed 71 Test wickets in 2024 at an average under 15.
  • Key contributor to India’s T20 World Cup triumph in the Caribbean.
  • Took 32 wickets at 13.06 in the Border-Gavaskar Trophy in Australia.
• Smriti Mandhana (Leading Women’s Cricketer)
  • Scored 1,659 runs across formats in 2024—a women’s record.
  • Recorded four ODI centuries in one calendar year.
  • Scored 149 in India’s Test win over South Africa.

Wisden’s Five Cricketers of the Year

(Honoured only once in a lifetime)

• Gus Atkinson (England): 52 Test wickets at 22; maiden century at No. 8.
• Jamie Smith (England): Key Surrey performer and Test debutant.
• Dan Worrall (England): 52 wickets for Surrey at an average of 16.
• Liam Dawson (England): All-rounder—54 wickets and 956 runs.
• Sophie Ecclestone (England): Spinner—26 wickets at under 10 in an unbeaten home summer.

Outstanding Performance of the Year

• Mitchell Santner (New Zealand)
  • Took 13 wickets against India in the Pune Test.
  • Instrumental in New Zealand’s first Test series win in India (3–0) since 2012.

RECENT NEWS

• In March 2025, L&T Finance Ltd. (LTF), one of India’s leading Non-Banking Financial Companies (NBFCs), has announced Indian cricketer Jasprit Bumrah as its brand ambassador.
• In March 2025, renowned Indian cricketer Jasprit Bumrah officially signed with Skechers, the global Comfort Technology Company, further expanding its association with elite cricket athletes.

CURRENT AFFAIRS: IMPORTANT DAYS

National Panchayati Raj Day 2025: April 24

• In India 24th April is designated as National Panchayati Raj Day.
• The main function will be organized in the august presence of the Prime Minister Shri Narendra Modi, at Lohna Uttar Gram Panchayat, Jhanjharpur Block in Madhubani District of Bihar.
• The Prime Minister will address Panchayati Raj Institutions (PRIs) and Gram Sabhas across the country and also confer Special Category National Panchayat Awards 2025 on this occasion.

History

• The constitution of the 73rd Amendment Act of 1992 that came into force with effect on April 24, 1993, has vested constitutional status on Panchayati Raj Institutions.
• This marks the moment in the history of decentralization of political power to the grassroots level.
• As a result, it was determined to delegate democracy’s authority.
• For this reason, a panel headed by Balwantrai Mehta was established in 1957 to meet the demand.
• And for the first time in decades, Panchayati Raj was established in India.

Daily CA One- Liner: April 24

• India’s Direct Benefit Transfer (DBT) system has transformed welfare delivery, enabling significant fiscal savings and increasing the efficiency of government expenditure.
• From April 21–25, 2025, the Union Health Department, in collaboration with all States, Union Territories, and relevant Central Ministries, is conducting Fire Safety Week.
• In a major push for renewable energy in Northeast India, SJVN Ltd (Satluj Jal Vidyut Nigam) released ₹269.97 crore as land compensation for the Etalin Hydro Electric Project (3,097 MW) in Dibang Valley, Arunachal Pradesh.
• The Yashraj Bharti Samman, now in its 3rd edition, celebrates grassroots organizations making measurable impact in healthcare, education, and governance
• Achyuta Samanta, founder of KIIT and KISS, has been conferred the Gurudev Kalicharan Brahma Award 2025 for his notable contributions to education and social empowerment, especially among tribal and underprivileged communities
• The PoshanTracker Application, developed by the Ministry of Women and Child Development (MoWCD), received the Prime Minister’s Award for Excellence in Public Administration 2024 under the Innovation (Centre) category.
• The Gold House Gold Gala returns at the Music Centre in Downtown Los Angeles
• The 2025 edition of TIME Magazine’s 100 Most Influential People highlights globally recognized leaders and innovators.
• At the Asian U-18 Athletics Championship in Dammam, Saudi Arabia, 16-year-old Nishchay from Haryana secured the silver medal in the boys’ shot put on the third day of competition.
• The Wisden Cricketers’ Almanack 2025 has named Jasprit Bumrah and Smriti Mandhana as its Leading Cricketers in the World, recognising their outstanding performances across formats in 2024
• SEBI has announced a change in cut-off timings for determining NAV (Net Asset Value) related to repurchase/redemption of units in Overnight Mutual Fund Schemes (MFOS).
• The Reserve Bank of India (RBI) has cancelled the licence of Ajantha Urban Co-operative Bank Maryadit, Aurangabad.
• The International Monetary Fund (IMF) has revised India’s GDP growth forecast for FY26 to 6.2%, down from 6.5%.
• India’s economy is relatively less vulnerable to global headwinds and calibrated policy support can help the country turn global volatility into an opportunity and strengthen its position in the emerging world economic landscape, stated the Reserve Bank of India’s (RBI) April Bulletin released.
• Outward remittances under the Reserve Bank of India’s (RBI’s) Liberalised Remittance Scheme (LRS) during April 2024-February 2025 of FY25 continue to be lower than last year.
• The Reserve Bank of India (RBI) has set a deadline of October 31, 2025, for all banks to transition their digital operations to the ‘Bank.in’ domain.
• AU Small Finance Bank (AU SFB), India’s largest small finance bank, has launched Concierge Services for its premium banking programs – AU ivy and AU Eternity.
• The World Bank has revised India’s growth forecast for FY26 to 6.3%, down by 0.4 percentage points compared to the previous projection of 6.7% due to global economic weakness and policy uncertainty.
• Campbell Wilson, CEO and MD of Air India, has stepped down as Chairman of Air India Express.
• The central government has re-appointed T Rabi Sankar as the RBI’s Deputy Governor for one more year.
• Stacie Sire has been appointed as the Vice President and Managing Director of the Boeing India Engineering & Technology Center (BIETC).
• The Competition Commission of India (CCI) has approved Bharat Forge Ltd’s acquisition of AAM India Manufacturing Corporation Pvt Ltd.
• Ambuja Cements, owned by the Adani Group, has completed the acquisition of a 37.8% promoters’ stake in Orient Cement Limited (OCL), thereby becoming the promoter of the company.
• In India 24th April is designated as National Panchayati Raj Day