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NATIONAL AFFAIRS
India’s Total Exports Increased by 6.24%, to USD 750.53 billion during April-February of FY25: MoC&I
According to the Ministry of Commerce & Industry (MoC&I)’s latest data, India’s combined merchandise and services exports, registered 6.24% Year-on-Year (Y-o-Y) growth from April to February of Financial Year 2024-25 (FY25), reaching USD 750.53 billion against USD 706.43 billion during the same period of previous FY.
- While, India’s combined merchandise and services imports were estimated at USD 839.89 billion during April-February of FY25 compared to USD 782.90 billion for the same period of FY24, showing a growth of 7.28%.
i.India’s total exports, including both merchandise and services is estimated at USD 71.95 billion for February 2025 , registering growth of 3.16% compared to 69.74 billion in February 2024.
ii.Also, the cumulative value of India’s merchandise and services has registered a negative growth of (-11.34%), from 76.15 billion (in February 2024) to USD 67.52 billion (in February 2025).
iii.As per the data, India’s overall merchandise exports sector decreased by 10.8% for the 4th consecutive month of FY25, to USD 36.91 billion(in February 2025) from USD 41.41 billion registered in the same month of FY24.
iv.As per the data, India’s total services export was estimated at USD 35.03 billion(in February 2025) compared to USD 28.33 billion registered in February 2024.
About Ministry of Commerce and Industry (MoCI):
Union Minister- Piyush Goyal (Constituency- Mumbai North, Maharashtra)
Minister of State (MoS)- Jitin Prasada (Constituency- Pilibhit, Uttar Pradesh, UP)
>> Read Full News
Vigyan Dhara Scheme: Boosting India’s Scientific Research and Innovation
The Government of India (GoI) launched the unified Vigyan Dhara scheme on 16 January 2025 to strengthen India’s scientific research, innovation, and technological development. It merges three existing umbrella schemes of the Department of Science and Technology (DST) under the Ministry of Science and Technology(MoS&T):
- Science and Technology (S&T) Institutional and Human Capacity Building
- Research and Development (R&D)
- Innovation, Technology Development, and Deployment
Key Objectives:
The scheme aims to:
i.Build advanced R&D infrastructure and skilled human resources.
ii.Promote basic, translational, and collaborative research.
iii.Drive innovation across schools, industries, and startups.
iv.Ensure gender parity in S&T fields.
v.Position India as a global scientific leader through international partnerships.
Budget and Implementation:
- Total Outlay: Rs. 10,579.84 crore for the 15th Finance Commission(FC) period (2021-22 to 2025-26).
- Annual Allocation: 4.31 times Increased from Rs. 330.75 crore (2024-25) to Rs. 1,425 crore (2025-26).
- Implementation: Nationwide as a Central Sector Scheme under DST, MoS&T.
Key Components
- Capacity Building: Upgrade R&D labs in academic institutions. Support faculty development, student research, and international collaborations.
- Research and Development: Focus on sustainable energy, water, nanotechnology, quantum science, and biotechnology. Access to international mega facilities like particle accelerators.
- Innovation and Technology: Fund startups and technology commercialization. Promote grassroots innovation via programs like INSPIRE-MANAK (Million Minds Augmenting National Aspiration and Knowledge) for students (Class VI-X).
Impact and Beneficiaries
- Boosted scientific publications (India ranks 3rd globally with 2.44 lakh papers in 2022). Enhanced academia-industry collaboration and Intellectual Property(IP) creation (patents, industrial designs).
- 57,869 Beneficiaries (as of March 2025), including 10–15-year-old students under INSPIRE-MANAK.
- State-Level Impact: Telangana utilized Rs. 3.3 crore for 4,002 beneficiaries (as of 10 March 2025).
Strategic Alignment
i.Linked to the Anusandhan National Research Foundation (ANRF) for global-standard research.
ii.Supports 5-year DST goals to improve India’s Full-Time Equivalent (FTE) researcher count and R&D base.
About Ministry of Science & Technology:
Minister of State (MoS) Independent Charge (I/C) – Dr. Jitendra Singh
Departments: Department of Science &Technology (DST), Department of Biotechnology (DBT) and Department of Scientific & Industrial Research (DSIR).
LS Secretariat and MeitY Signed MoU to Launch ‘Sansad Bhashini’ for AI-powered Multilingual Parliamentary Ops
In March 2025, the Lok Sabha (LS)Secretariat has signed a Memorandum of Understanding (MoU) with Ministry of Electronics and Information Technology (MeitY) to develop an Artificial Intelligence (AI)-powered solution named ‘Sansad Bhashini’ which will provide comprehensive In-House AI solutions for multi-lingual support and streamlined processes in parliamentary operations.
- Both entities have agreed to integrate and collaboratively develop AI products/tools using the Parliamentary corpus data.
- As per the MoU, LS will provide parliamentary data and resources, which will be used for learning the AI tools/products while; Bhashini (BHASHa INterface for India) will provide translation capabilities and technical expertise.
i.MeitY in partnership with New Delhi (Delhi)-based Drone Federation India (DFI) launched the National Innovation Challenge for Drone Application and Research (NIDAR) under the ‘SwaYaan-Capacity Building for Human Resource Development in Unmanned Aircraft Systems’ initiative.
ii.S. Krishnan, Secretary of MeitY has formally inaugurated this challenge, and has also launched the website and registration portal (https://nidar.org.in/), released the NIDAR Poster and Rule Book.
About Drone Federation India (DFI):
It is a non-government, not-for-profit, industry-led body that promotes building a safer and scalable unmanned aviation industry in India.
President- Smit Shah
Headquarters- New Delhi, Delhi
Founded- 2017
>> Read Full News
Rashtriya Ayurveda Vidyapeeth Hosts 28th Convocation & Shishyopanayaniya Samskara in New Delhi
In March 2025, Rashtriya Ayurveda Vidyapeeth (RAV), under the Ministry of AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homoeopathy), hosted its 28th Convocation & Shishyopanayaniya Samskara ceremony in New Delhi, Delhi. The event aimed at enhancing the quality of education and globalizing Ayurveda.
- The event was graced by Union Minister of State (MoS) (Independent Charge) Prataprao Jadhav, Ministry of AYUSH.
- The event featured the recognition of distinguished Ayurvedic practitioners, the accreditation of leading institutions, and the unveiling of several initiatives aimed at advancing Ayurveda education and practice both in India and worldwide.
i.During the event, RAV accredited one international institution and six national institutions for maintaining high standards in Ayurveda education and practice.
ii.The Fellow of RAV (FRAV) Award was conferred upon 13 distinguished Vaidyas and scholars, for their contributions in research, clinical practice, education, and propagation of Ayurveda across India and beyond.
- The RAV also presented the LifeTime Achievement Award to 4 distinguished individuals for their exemplary contributions to Ayurveda:
About Rashtriya Ayurveda Vidyapeeth (RAV):
RAV is an autonomous organization under the Ministry of AYUSH. It was established in 1988 with the objective of promoting knowledge and practice of Ayurveda. It started its functioning in 1991.
Director – Dr. Vandana Siroha
Headquarters – New Delhi, Delhi
>> Read Full News
ISRO Chairman Dr. V. Narayanan Inaugurates New Research Centre at IIT Madras
In March 2025, Bengaluru (Karnataka) based Indian Space Research Organisation’s (ISRO) Chairman Dr. V. Narayanan inaugurated the ‘Shri S. Ramakrishnan Centre of Excellence (CoE) in Fluid and Thermal Science Research’ at the Indian Institute of Technology Madras (IIT-M), Chennai, Tamil Nadu (TN).
- The centre is named after S. Ramakrishnan, Former Director, Liquid Propulsion Systems Centre (LPSC) and Thiruvananthapuram (Kerala) based Vikram Sarabhai Space Centre (VSSC), ISRO who made significant contributions to launch vehicle engineering.
i.Along with the new research centre, the ‘Arcot Ramachandran Seminar Hall’ was also inaugurated at IIT Madras by Professor Kamakoti.
ii.Union Minister Ashwini Vaishnaw, Ministry of Railways (MoR) announced development of the longest hyperloop test track at the IIT Madras, Thaiyur Campus in Chennai. The Hyperloop features the world’s longest student-run hyperloop infrastructure.
- The 410-meter (m) Asia’s longest tube, developed by IIT Madras researchers was built in collaboration with the MoR.
IndiaAI & GSI Launch ‘IndiaAI Hackathon 2025’ to Revolutionize Mineral Targeting with AI
In March 2025, IndiaAI, an Independent Business Division (IBD) under New Delhi (Delhi) based Digital India Corporation (DIC), Ministry of Electronics and Information Technology (MeitY), in collaboration with the Geological Survey of India (GSI), Ministry of Mines (MoM), launched the ‘IndiaAI Hackathon 2025’ themed “Mineral Targeting using Artificial Intelligence.”
- The initiative aims to leverage Artificial Intelligence (AI) and Machine Learning (ML) technologies to enhance mineral discovery and geological analysis in India.
i.It focuses on identifying hidden, deep mineral bodies using depth modeling and developing AI/ML algorithms for data cleaning, integration, modeling, and validation.
ii.Kolkata (West Bengal, WB) based Coal India Limited (CIL), a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Coal (MoC) signed a non-binding Memorandum of Understanding (MoU) with Hyderabad (Telangana) based Non-Ferrous Materials Technology Development Centre (NFTDC), an autonomous Research and Development (R&D) institution under MoM.
About Geological Survey of India (GSI):
Director General(DG) -Asit Saha
Headquarters – Kolkata, West Bengal(WB)
Founded – 1851
>> Read Full News
Indore Launches India’s 1st PPP-Based Green Waste Processing Plant
Indore city in Madhya Pradesh (MP), India’s cleanest city for 7 consecutive years, is set to launch India’s first green waste processing plant under the Swachh Bharat Mission-Urban (SBM-U) through a Public-Private Partnership (PPP) model. This initiative aims to convert green waste into valuable products, supporting sustainability and economic growth.
- This initiative aligns with the vision of Garbage-Free Cities under the SBM-U advancing efforts toward a cleaner, greener, and more sustainable urban environment
Project Overview:
i.Location and Size: The plant will be constructed on a 55,000 square feet (sq ft) plot in Bicholi Hapsi, Indore, MP.
- The plant will recycle wood and branches to produce wood pellets, serving as an alternative to coal and promoting energy conservation.
ii.Daily Waste Processing Capacity: Indore generates approximately 30 tons of green waste daily, including wood, branches, leaves, and flowers. This volume could increase to 60-70 tons during autumn.
iii.Indore Municipal Corporation (IMC): IMC will provide land for the plant and manage the collection and transportation of green waste.
- The IMC will earn Rs.3,000 per ton in royalty fees for supplying wood and branches to the facility.
iv.Astronomical Industries Private Limited in Indore (MP), handles the establishment of infrastructure, including sheds, electricity, and water facilities, and oversees the plant’s operations.
Points to Note:
i.Private firms have established the Meghdoot and sub-grade plants in Sirpur, Chhattisgarh covering 10,000 to 15,000 sq ft, that processes garden waste like leaves and small twigs from the municipal corporation.
DoT & WhatsApp Collaborate to Enhance Digital Safety in India
In March 2025, the Department of Telecommunications (DoT) under the Ministry of Communications (MoC), and Mobile Messaging Application (app) WhatsApp, a subsidiary of Meta Platforms, Inc., collaborated to expand Meta’s safety campaign ‘Scam Se Bacho,’ (Stay Safe from Scams) to bolster digital safety in India.
- This collaboration aims to educate citizens on identifying and reporting fraudulent communications, thereby combating digital scams and misuse of telecom resources.
Note: The awareness campaign ‘Scams se Bacho’ was launched in 2024 in collaboration with the Ministry of Electronics and Information Technology (MeitY), Indian Cybercrime Coordination Centre (I4C) and Ministry of Information and Broadcasting (MIB).
Key Initiatives:
i.The DoT launched the ‘Sanchar Saathi portal’ and mobile app, allowing users to report suspected fraud calls and messages, track mobile connections, and block or trace lost or stolen devices.
ii.Digital Intelligence Platform (DIP): To facilitate the exchange of real-time intelligence between DoT and 550 stakeholders, including banks and law enforcement agencies, to address misuse of telecom resources.
iii.Conduct Workshops: DoT will conduct workshops for its officials, Telecom Service Providers (TSPs), and Sanchar Mitras to educate citizens.
iv.Regional Accessibility: WhatsApp will translate all safety materials into regional languages, including Hindi, Bengali, Marathi, Tamil, Telugu, Kannada, Malayalam, and Gujarati, to ensure widespread accessibility.
Indian Railways Joins Mission Amrit Sarovar to Address Water Scarcity
In March 2025, the Indian Railways (IR) announced the collaboration with the Mission Amrit Sarovar to address the critical issue of water scarcity across India. With this collaboration, the IR will assist in desilting, excavating, or constructing new Amrit Sarovars (ponds) near railway lines.
- A significant number of ponds are to be rejuvenated or constructed by 15 August 2025.
- For implementations, the IR needs to coordinate with the district authorities to identify suitable sites for creating new waterbodies near railway worksites, and with the Ministry of Rural Development (MoRD) for effective execution.
i.Mission Amrit Sarovar was launched on 24 April 2022, aimed at developing and rejuvenating 75 water bodies in each district of India, with a total target of 50,000 ponds nationwide.
- As of October 2024, over 68,000 ponds have been completed, enhancing surface and groundwater availability across various regions.
ii.Phase II of the Mission focuses on ensuring water availability, promoting community participation (Jan Bhagidaari), and strengthening climate resilience and ecological balance.
iv.Every Amrit Sarovar will have a pondage area of at least 1 acre (0.4 hectares) with a water holding capacity of about 10,000 cubic meters and will be surrounded by trees like Neem, Banyan, etc
IAEA DG Rafael Mariano Inaugurates S N Bose Building at GCNEP
On March 18, 2025, Rafael Mariano Grossi, Director General (DG) of Vienna (Austria) based International Atomic Energy Agency (IAEA), inaugurated the S N Bose Building at the Global Centre for Nuclear Energy Partnership (GCNEP), a Research and Development (R&D) unit in Haryana under the Department of Atomic Energy (DAE)
- He also launched a Certificate Course in Nuclear Engineering during the event, which was held at Sushma Swaraj Bhavan in New Delhi (Delhi).
- The event was attended by Dr. Ajit Kumar Mohanty, Secretary of DAE and Chairman of the Atomic Energy Commission, along with diplomats from GCNEP partner countries and senior officials from the Ministry of External Affairs (MEA) and DAE.
i.The S N Bose Building, named after the renowned Indian Physicist Dr. Satyendra Nath Bose, will serve as an advanced hub for research and training in nuclear science and technology.
- The facility has advanced laboratories that support GCNEP’s specialized schools, enhancing its capabilities in nuclear security, reactor technology, radiation safety, nuclear material analysis, and radioisotope applications.
INTERNATIONAL AFFAIRS
WMO Report: Atmospheric CO2 levels Reached at 420 ppm in 2023, highest in 8 lakh Years
In March 2025, Geneva (Switzerland)-based World Meteorological Organisation (WMO) released its report titled ‘State of the Global Climate Report 2024’, It states that atmospheric Carbon Dioxide (CO2) levels reached at 420 parts per million (ppm) in 2023, which is the highest in the last 8 lakh years. As per WMO, 420 ppm of CO2 is equivalent to 3,276 Gigatonnes (Gt) or 3.276 trillion of CO2 in the atmosphere.
- Also, the CO2 levels in 2023 were 2.3 ppm higher than in 2022 and 151% of the pre-industrial level (1750).
i.The report mentioned that long-term global warming is currently projected to be between 1.34 degree Celsius (°C) and 1.41°C compared to the 1850-1900 baseline.
ii.The report showed that the year 2024 was probably the 1st Calendar Year (CY) to be over 1.5 °C above the pre-industrial era, with global average temperature of 1.55 °C ±0.13 °C above the 1850-1990 average, which is the warmest year in 175-year observational record.
iii.The report showed that nearly 90% of the additional heat trapped by greenhouse gases (GHGs) is absorbed by the oceans, which further warming the ocean water and impacting marine life, weather patterns and seal-levels.
About World Meteorological Organisation (WMO):
It is a specialized agency of the United Nations (UN) for meteorology (weather and climate), operational hydrology and related geophysical sciences.
- It was established in 1950 and became UN’s specialized agency in 1951.
Secretary General– Celeste Saulo
Headquarters- Geneva, Switzerland
Members– 193 members (187 member states and 6 territories)
>> Read Full News
BANKING & FINANCE
RBI & Bank of Mauritius Sign MoU to Promote INR and MUR for Bilateral Transactions
In March 2025, India’s central bank, Reserve Bank of India (RBI) and the central bank of Mauritius, Bank of Mauritius (BOM) signed a Memorandum of Understanding (MoU) to establish a framework for promoting the use of the Indian Rupee (INR) and the Mauritian Rupee (MUR) in cross-border transactions.
- The MoU was signed by RBI Governor Sanjay Malhotra and BOM Governor Rama Krishna Sithanen in Port Louis, Mauritius in the presence of Indian Prime Minister (PM) Narendra Modi and PM of Mauritius Navinchandra Ramgoolam.
i.This agreement aims to enhance bilateral trade by encouraging the use of INR and MUR for payments in all current account transactions and permissible capital account transactions.
ii.It will enable exporters and importers to invoice and settle payments in their respective domestic currencies, thus developing a market for INR-MUR exchange.
Paytm Partners with SBI Mutual Fund to Launch JanNivesh Rs,250 SIP
Paytm, a wholly-owned subsidiary of Noida (Uttar Pradesh, UP) based One 97 Communications Limited, has partnered with Mumbai (Maharashtra) SBI Mutual Fund, a subsidiary of State Bank of India (SBI) to launch the JanNivesh Rs.250 Systematic Investment Plan (SIP) initiative.
- The scheme was launched by Securities and Exchange Board of India’s (SEBI) Chairperson Madhabi Puri Buch on February 17, 2025.
i.This scheme allows individuals to start investing with as little as Rs.250, offering daily, weekly, or monthly SIP options to suit diverse financial needs.
ii.The scheme starts at just Rs250, making it accessible for first-time investors and small savers. Investors can set up SIP with the Paytm application (app), SBI You Only Need One (YONO), and other digital platforms.
iii.This initiative aims to democratize investing and contribute to long-term financial security for millions of Indians, especially those in rural, semi-urban, and urban areas.
Paytm Money Limited Receives SEBI’s Approval as Research Analyst
On March 18 2025, Noida (Uttar Pradesh, UP) based Paytm Money Limited, a wholly-owned subsidiary of One 97 Communications Limited(OCL), received a Certificate of Registration (CoR) as a Research Analyst (RA) from the Mumbai (Maharashtra) based Securities and Exchange Board of India (SEBI) under the ‘SEBI (Research Analysts) Regulations, 2014’.
- This registration enables Paytm Money to provide SEBI-compliant research services, including investment insights, research reports, and data-driven analysis.
- These services aim to enhance user experience and provide expert-backed insights to both retail and institutional investors.
Key Features:
i.Research Services: Paytm Money can now offer expert-backed research and advisory services to retail and institutional investors.
ii.Investment Products: The platform continues to support Mutual Funds(MF), stocks, Initial Public Offerings (IPOs), Exchange-Traded Funds (ETFs), and National Pension System (NPS), contributing to financial inclusion.
iii.New Features: Paytm Money has also integrated features like Unified Payments Interface (UPI) Trading Blocks for seamless payment deductions and leveraged tools for efficient decision-making in investments.
ECONOMY & BUSINESS
Fitch Ratings kept India’s GDP Unchanged at 6.5% in FY26; Increased GDP forecast for FY27 to 6.3%
In March 2025, New York (the United States of America, USA)-based credit rating agency, Fitch Ratings released its March edition of the Global Economic Outlook (GEO). The report has kept India’s Gross Domestic Product (GDP) projection unchanged to 6.5% for Financial Year 2025-26 (FY26).
- While, it has raised India’s GDP forecast for FY27 to 6.3%, from 6.2% in its December 2024 edition of GEO, amid the United States of America(USA) instigated global trade war.
Key Findings:
i.Growth Rate for FY25: The report showed that India’s GDP growth has recovered in 4th Quarter (Q4: January-March) of FY25 to 6.2% compared to 5.4% in Q3FY25.
- This growth rate was mainly driven by increased private and public spending including capital spending; and strong agricultural growth.
- It has further projected that overall India’s GDP for full FY25 will be 6.3%.
- Fitch has lowered the global growth rate, from 2.9% (in 2024) to 2.3% for the year 2025.
ii.Decrease in Inflation:As per the report, consumer price inflation decreased from 4.3% (in January 2025) to 3.6% (in February 2025) due to decline in food price inflation.
- The report has further projected that food price dynamics will drive a gradual decline in India’s headline inflation to 4.0% by December 2025.
- However, it has estimated a slight increase in inflation to 4.3% by December 2026.
iii.Projects Policy Rate Cuts: The credit rating agency has projected two additional cuts in the policy rate for this calendar year (CY) i.e. from current 6.25% to 5.75% (by December 2025).
iv.Neutral Net Exports Growth: The report highlighted that net exports have contributed significantly in India’s GDP growth for this year due to strong export growth and decreasing imports. It has further estimated the net exports contribution to India’s GDP will mainly be neutral in FY26 and FY27.
About Fitch Ratings:
President- Ian Linnell
Headquarters- New York, the United States of America (USA)
Established- 1914
AWARDS & RECOGNITIONS
Indian Literary Theorist Gayatri Chakravorty Spivak to Receive the 2025 Holberg Prize
In March 2025, Indian literary theorist and postcolonial scholar Gayatri Chakravorty Spivak was named the recipient of the 2025 Holberg Prize. The award recognizes her groundbreaking work in postcolonial studies, feminist theory, and literary criticism.
- The prize, valued at USD 540,000 (Rs.4.6 crore), will be presented on June 5, 2025, at the University of Bergen, Norway, by Crown Prince Haakon of Norway.
About Holberg Prize:
i.The Holberg Prize is an international award presented annually by the Norwegian government to scholars who have made exceptional contributions in the fields of arts, humanities, social sciences, law, and theology.
ii.It was established in 2003 in honor of the Danish-Norwegian writer Ludvig Holberg, it is often regarded as the equivalent of the Nobel Prize in these disciplines.
About Gayatri Chakravorty Spivak:
i.Gayatri Spivak, from West Bengal(WB) started her career as a University Professor in the Humanities at Columbia University, the United States of America, USA in 2007.
ii.She is renowned for her translation of Jacques Derrida’s French book “De La Grammatologie” and her influential essay “Can the Subaltern Speak?”.
iv.In 2012, she was awarded the Kyoto Prize in Arts and Philosophy, Japan’s highest private award for lifetime achievement in arts and sciences.
v.In 2013, she received the Padma Bhushan, India’s third-highest civilian award, in the field of Literature and Education.
vi.She has authored nine books, including “In Other Worlds: Essays in Cultural Politics” (1987) and “A Critique of Postcolonial Reason” (1999), which have been translated into over 20 languages.
About Norway:
Prime Minister(PM) – Jonas Gahr Støre
Capital – Oslo
Currency – Norwegian Krone(NOK)
APPOINTMENTS & RESIGNATIONS
Former Cricketer Krishnamachari Srikkanth Appointed as Goodwill Ambassador for VISION 2020 India
On March 19, 2025, Krishnamachari Srikkanth, former captain of the Indian national cricket team, has been appointed as the Goodwill Ambassador for ‘VISION 2020 India’, a national initiative focused on eliminating avoidable blindness and visual impairment across India.
- The announcement was made during an event hosted by Sankara Nethralaya, a prominent eye care institution in Chennai, Tamil Nadu (TN), which is an integral member of VISION 2020 India.
Note: VISION 2020: The Right to Sight – India is a national initiative established with the aim of eliminating avoidable blindness and visual impairment across India.
Initiatives Under the Campaign:
i.The initiative aims to tackle the significant public health issue of blindness in India, with approximately 5 million blind individuals and 80% of these cases being avoidable.
ii.Free Eye Care Services: Provision of free eye check-ups, surgeries, and vision correction services to underserved communities.
iii.Awareness Campaigns: Active participation in initiatives aimed at combating avoidable blindness and promoting eye health awareness.
Indian Cricketer Rishabh Pant Appointed as Brand Ambassador for Goibibo
On March 18, 2025, Gurugram (Haryana) based online travel platform Goibibo, owned by MakeMyTrip Limited, announced the appointment of Indian cricketer Rishabh Rajendra Pant as its new brand ambassador.
- Rishabh Pant will feature in the company’s latest campaign along with Indian Cricket Legend Sunil Manohar Gavaskar.
- This partnership reflects Goibibo’s efforts to engage audiences with fresh, innovative campaigns while promoting the joy and adventure of travel.
ACQUISITIONS & MERGERS
Bajaj Finserv to Acquire Allianz SE’s 26% Stake in Insurance JVs for Rs 24,180 Cr
In March 2025, Pune (Maharashtra)-based Bajaj Finserv Limited (BFS), India’s most diversified Non-Banking Finance Company (NBFC) will acquire Munich (Germany)-based Allianz SE’s 26% stake in their Indian non-life and life insurance Joint Ventures (JVs) for Rs 24,180 crore.
- The agreed consideration for acquiring a 26% stake in Bajaj Allianz General Insurance Company Limited (BAGIC) and Bajaj Allianz Life Insurance Company Limited(BALIC) is Rs 13,780 crore and Rs 10,400 crore, respectively.
i.Post-acquisition, BFS will hold 75.01% in both ventures and the promoter entities will hold 24.99% and this acquisition will increase Bajaj Group’s ownership in the JVs to 100%.
ii.The acquisition is subject to regulatory approvals, under the Share Purchase Agreement (SPA), BFS will directly acquire approximately 1.01% of each company, Bajaj Holdings & Investment will acquire approximately 19.95%, and Jamnalal Sons (promoter entities) will acquire approximately 5.04%.
iii.Once the acquisition is completed, Allianz will no longer be a promoter of these JVs. The JV agreements between Allianz SE and BFS will be terminated, ending a 24-year partnership between Bajaj and Allianz.
SCIENCE & TECHNOLOGY
NASA Astronauts Sunita Williams, Butch Wilmore Return to Earth After 9 Months in Space
On March 19, 2025, Indian-American astronaut Sunita Lyn Williams and an American astronaut Barry Butch E. Wilmore from National Aeronautics and Space Administration (NASA) successfully returned to the Earth after spending an extended period (9months) aboard the International Space Station (ISS).
- As part of NASA’s Crew-9 rotation mission, the 4-person crew, along with American Astronaut Nick Hague and Russian cosmonaut Aleksandr Gorbunov, concluded their journey with a safe splashdown off the coast of Tallahassee in the Florida Panhandle, the United States of America (USA).
- Their return was facilitated by the SpaceX Crew Dragon capsule, following the arrival of Crew-10, which was launched on March 14, 2025, to relieve Crew-9.
Mission Background:
i.ISS was initially launched on June 5, 2024, aboard Boeing’s CST-100 Starliner spacecraft, as part of its first crewed test flight with Sunita Williams and Butch Wilmore. The mission was intended to last just eight days.
ii.However, technical issues with the Starliner, including helium leaks and thruster malfunctions, led to an extended stay of 286 days aboard the ISS.
About the Astronauts:
i.Sunita Williams, a distinguished NASA astronaut and a retired USA Navy Captain was selected by NASA in 1998.
ii.She has completed 3 space missions; Expeditions 14/15, 32/33, and 71/72 accumulating a total of 608 days in space. During Expedition 14, she set a then-record for female spacewalks, totaling 29 hours and 17 minutes.
iii.She has accumulated a total of 608 days and 20 minutes in space across 3 missions, the 2nd most for any USA astronaut after Peggy Whitson’s 675 days.
iv.Barry E. Wilmore, a retired USA Navy Captain, joined NASA in 2000 and has completed 3 spaceflights, accumulating 464 days in space.
v.He served as Flight Engineer during Expedition 41 and Commander of Expedition 42, logging 167 days aboard the ISS. His spacewalks total 31 hours and 60 minutes.
>> Read Full News
BOOKS & AUTHORS
Justice P.N. Prakash Launches Book ‘Memories and Milestones’ to Celebrate 60 Years of Blue Cross of India
On March 15, 2025, Justice P.N. Prakash, former judge of the Madras High Court (HC), and former Special Public Prosecutor of the National Investigation Agency (NIA), Government of India (GoI) released the book ‘Memories and Milestones’ in Chennai, Tamil Nadu (TN). The book, authored by historian V. Sriram and Lashman, documents the 60-year journey of the Blue Cross of India.
- Maneka Sanjay Gandhi, animal rights activist and environmentalist, A. L. Somayaji, former Advocate General of TN government, and Dr. Chinny Krishna, co-founder of Blue Cross of India, and recipient of the Praani Mitra Award, India’s highest honor for animal welfare, awarded by the Animal Welfare Board of India (AWBI), were present during the event.
i.Blue Cross, registered in 1964 and headquartered in Chennai (TN), is India’s leading and most active animal welfare organization.
ii.It pioneered the Animal Birth Control (ABC) programme, the first global initiative for humane sterilization of street dogs.
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