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NATIONAL AFFAIRS
Union Minister Sarbananda Sonowal chaired 2nd IWDC Meet in Assam
The 2nd Inland Waterways Development Council (IWDC) meet, organized by the Inland Waterways Authority of India (IWAI), the nodal agency for the development of waterways under the Ministry of Ports, Shipping & Waterways (MoPSW), was held from 9th January to 10th January 2025 in Kaziranga, Assam to discuss upon the policies to enhance inland waterways and its infrastructure in India.
- The meeting was presided over by the Union Minister Sarbananda Sonowal, Ministry of Ports, Shipping and Waterways(MoPSW).
i.During the meeting, Union Minister Sarbananda Sonowal unveiled Initiatives worth more than Rs.1400 crore to boost inland waterways transport network across 21 Inland Waterway States.
ii.The National River Traffic and Navigation System (NRT&NS) was launched to create a safe, seamless and sustainable movement of Inland vessels, during the event.
iii.During the meeting, the Union Minister announced an investment of Rs.50,000 crore over the next five years to strengthen infrastructure on national waterways.
About Inland Waterways Authority of India (IWAI):
Chairman– Vijay Kumar
Headquarters– Noida, Uttar Pradesh (UP)
Founded– 1986
>> Read Full News
BANKING & FINANCE
DSP Asset Managers Launches India’s First BSE Sensex Next 30 Index Fund And ETF
In January 2025, Mumbai (Maharashtra)-based DSP Asset Managers Private Limited, a leading Indian asset management company (AMC) offering a range of mutual funds (MF), introduced a first-of-its-kind investment opportunity with the launch of two new schemes: ‘DSP BSE (Bombay Stock Exchange) Sensex Next 30 Index Fund’ and ‘DSP BSE Sensex Next 30 ETF (Exchange-Traded Fund)’.
- The New Fund Offer (NFO) for these innovative schemes opened on January 10, 2025, and will remain available for subscription until January 24, 2025.
About BSE Sensex Next 30 Index Fund And ETF:
i.These schemes are open-ended equity funds specifically designed to track the performance of the BSE Sensex Next 30 Index.
ii.These funds aim to give investors access to 30 large companies that are not part of the BSE Sensex but hold strong potential for future growth. While they could offer better returns, they also come with higher levels of risk.
iii.The index is diversified across key sectors, including Financial Services (19%), Consumer Discretionary (18%), Commodities (18%), Energy (10%), Healthcare (10%), Fast-Moving Consumer Goods (FMCG) (8%), and Industrials (8%).
- The portfolio reconstitution, or changes to the index constituents, will take place every six months.
iv.Investors can contribute either through a lump-sum investment or by setting up a Systematic Investment Plan (SIP).
Investments:
i.Investors can begin with a minimum investment of Rs.100, applicable to both lump sum and additional investments, while the same amount applies to SIPs.
- The Opening Net Asset Value (NAV) for the fund is Rs.10.
ii.The scheme will allocate 95-100% of its assets to equity and equity-related securities included in the BSE SENSEX Next 30 Index.
iii.A small portion, ranging from 0-5%, will be held in cash and cash equivalents to manage liquidity.
About DSP Asset Managers Private Limited:
Chairman– Hemendra Mathradas Kothari
Headquarters- Mumbai, Maharashtra
Established– 1996
SEBI Grants License to Strata for SM REIT
In January 09 2025, the Securities and Exchange Board of India (SEBI) granted the licence to Bengaluru (Karnataka) based Strata Capital Management Private Limited(SCMPL) , a real estate fractional ownership platform, for its Small and Medium Real Estate Investment Trust (SM REIT), named Strata SM REIT.
- This is SEBI’s fourth approval, following similar licenses issued to Property Share, Rudrabhishek Enterprises Limited (REPL), and Emberstone.
- Strata Capital will serve as the Investment Manager for the SM REIT, with Axis Trustee acting as the trustee.
About Strata SM REIT:
i.Strata SM REIT will provide retail and institutional investors with access to premium commercial properties in key locations, streamlining real estate investments. It also enhances transparency, safeguards investors, and ensures a regulated investment environment.
- It aligns with SEBI’s regulations to streamline fractional ownership platforms into a structured investment model.
ii.Strata plans to list assets worth Rs. 2,000 Crore by Financial Year 2025–26 (FY26), offering retail and institutional investors access to commercial real estate through SM REIT.
- It aims to launch up to six SM REIT schemes in FY26 and gradually introduce one scheme each month.
About Small and Medium Real Estate Investment Trusts (SM REIT):
i.SM-REIT was introduced by SEBI in March 2024 to encourage smaller real estate investments and increase participation in the sector.
ii.SM-REITs are a type of Real Estate Investment Trust (REIT) that enables individual investors to invest in properties such as office buildings, hotels, hospitals, and retail malls.
- They provide an opportunity for smaller investors to participate in the real estate market with lower capital requirements.
iii.Regulations:
- SM REITs can invest in real estate assets valued between Rs. 50 crore and Rs. 500 crore.
- It must have a minimum of 200 investors, excluding the investment manager and their associates.
- The minimum investment amount for SM REITs is Rs.10 lakh.
Groww Asset Management Launches India’s First Groww Nifty India Railways PSU ETF
The Groww Nifty India Railways PSU (Public Sector Undertaking) Index Fund and Groww Nifty India Railways PSU ETF (Exchange Traded Fund) were launched by Groww Mutual Fund, an Asset Management Company. Both are passive funds that track the Nifty India Railways PSU Index, focusing on public sector undertakings in the railway sector.
- Groww Nifty India Railways (IR) PSU ETF will be first of its kind in India.The New Fund Offer (NFO) will be available from January 16 to January 30, 2025.
- The scheme will re-open for investments on or before February 13, 2025.
- Both schemes aim for long-term capital appreciation by investing in equity and equity-related instruments of companies constituting the Nifty India Railways PSU Index.
About Groww Nifty India Railways PSU ETF:
The Groww Nifty India Railways PSU ETF is an open-ended scheme that tracks the Nifty India Railways PSU Index – TRI (Total Return Index). It has been created following the guidelines and regulations set by the Securities and Exchange Board of India (SEBI) for mutual funds, ensuring it complies with the latest amendments.
- Exit Load: None.
- Minimum Investment: Rs.500 and above in multiples of Rs.1.
- Asset Allocation:
- 95-100% in Nifty India Railways PSU Index securities.
- 0-5% in money market/debt instruments.
- Strategy: Mirror the index with minimal tracking error.
About Groww Nifty India Railways PSU Index Fund:
- Exit Load: 1% if redeemed within 30 days; nil thereafter.
- Minimum SIP (Systematic Investment Plan): Rs.100 and above in multiples of Rs.1.
- Asset Allocation:
- 95-100% in Nifty India Railways PSU Index equities.
- 0-5% in debt instruments or ETFs.
- Strategy: Minimize tracking error via portfolio rebalancing.
Note:The Nifty India Railways PSU Index has performed well, even outperforming the Nifty 500 Index, emphasizing the strong growth prospects of this sector.
About Groww Asset Management Limited:
Chief Executive Officer (CEO)- Varun Gupta
Headquarters– Mumbai, Maharashtra
Established– 2008
RBI Lifts Restrictions on AMFL and DFPL
On January 8, 2025, the Reserve Bank of India (RBI) removed business restrictions imposed on Chennai (Tamil Nadu) based Ashirvad Micro Finance Limited (AMFL) and New Delhi (Delhi) based DMI Finance Private Limited (DFPL) following remedial measures initiated by the lenders and their commitment to adhere to fair loan pricing and regulatory guidelines.
i.The RBI directed the 2 Non-Banking Financial Companies (NBFCs) to cease and desist from sanctioning and disbursing loans, effective from the close of business on October 21, 2024.
ii.The RBI had found that AMFL and DFPL were charging excessive interest rates and not complying with regulatory guidelines, particularly concerning Weighted Average Lending Rates (WALR) and interest spreads.
PhonePe and ICICI Lombard Unite for Maha Kumbh Mela Insurance
On January 09, 2025, Bengaluru (Karnataka) – based PhonePe and Mumbai (Maharashtra) – based ICICI Lombard General Insurance Company Limited launched the first-of-its-kind insurance coverage created exclusively for travelers attending the Maha Kumbh Mela in Prayagraj, Uttar Pradesh (UP), from January 13 to February 26, 2025.
- The insurance plan is offered in two options to suit a wide range of travelers: Rs. 59 per person for those traveling by train or bus, and Rs. 99 per person for those traveling by domestic flights.
- The product offers a total sum insured of Rs. 1 lakh, covering various risks with specific amounts for each.
i.The plan provides devotees with wide-ranging coverage, including hospitalization, doctor visits, outpatient care, personal accidents, lost baggage, trip cancellations, missed flights, and repatriation of remains.
ii.Users can purchase this plan on PhonePe until February 25, 2025, and enjoy full coverage throughout their journey and stay at the Maha Kumbh Mela, ensuring a safe pilgrimage for millions.
ECONOMY & BUSINESS
UN-DESA’s WESP 2025 Report: Indian Economy Likely to Grow 6.6% in 2025
In January 2025, United Nations- Department of Economic and Social Affairs (UN-DESA) released a report titled “World Economic Situation and Prospects (WESP) 2025”. The report has projected that India economy will grow by 6.6% in 2025, mainly driven by strong private consumption and investment growth. Indian economy is further expected to expand by 6.7% in 2026.
- The report revealed that Indian economy registered the growth rate of 6.8% in 2024.
i.As per the report, South Asia Region(SAR) is expected to remain robust, with growth rate at 5.7% (in 2025) and 6.0% (in 2026).
- This growth is mainly driven by strong performance in India as well as economy recovery in countries like: Bhutan, Nepal and Sri Lanka.
ii.The report has projected that global economic growth rate will be at 2.8% (in 2025) and 2.9% (in 2026). These projections are largely same from the rate of 2.8% registered in 2023 and estimated for 2024.
About United Nations Department of Economic & Social Affairs (UN-DESA):
Under-Secretary-General for Economic and Social Affairs – Li Junhua
Headquarters- New York, the United States of America (USA)
Establishment- 1948
>> Read Full News
AWARDS & RECOGNITIONS
Kerala’s Kappad and Chal Beaches Earn ‘Blue Flag’ Certification
On January 10 2025, Kerala’s renowned Kappad beach in Kozhikode and Chal beach in Kannur respectively received the coveted ‘Blue Flag certification’ from the Denmark based non-profit organization ‘Foundation for Environmental Education’ (FEE).
- This certification is awarded to beaches and marinas that meet 33 criteria, focusing on environmental education, water quality, safety, services, and waste management.
Key Points:
i.Kappad Beach has earned the Blue Flag certification for the 4th consecutive year. The beach underwent upgrades in 2020, including the installation of solar-powered lights, bio-toilets, and disabled-friendly pathways, to meet the stringent criteria required for certification.
ii.Chal Beach also secured the Blue Flag certification, contributing to Kerala’s rising profile as a sustainable tourism destination.
Note:The historical significance of Kappad was the site where Portuguese explorer Vasco da Gama 1st landed in 1498 .
About Blue Flag certification:
i.The Blue Flag certification is an eco-label awarded to beaches, marinas, and sustainable boating tourism operators that meet stringent environmental and safety standards globally as a mark of excellence.
- The ‘Blue Flag’ programme was started in 1987, initially in Europe and the certification is awarded annually.
- In 2024, over 5,000 beaches, marinas, and tourist boats across 51 countries have received a Blue Flag.
- India is now the 4th country in Asia after South Korea, Japan and the United Arab Emirates (UAE) with ‘blue flag beaches’.
ii.As of November 2024, India has 12 Blue Flag beaches.The beaches are: Shivrajpur (Gujarat), Ghoghla (Daman & Diu), Kasarkod (Karnataka), Padubidri (Karnataka), Kappad (Kerala), Rushikonda (Andhra Pradesh(AP)), Golden beach (Odisha), Radhanagar (Andaman and Nicobar(A&N)), Kovalam (Tamil Nadu(TN)), Eden (Puducherry), Tarkarli (Maharashtra) and Bangaram (Lakshadweep).
About Kerala:
Chief Minister (CM)- Pinarayi Vijayan
Governor– Rajendra Vishwanath Arlekar
Stadium- Lal Bahadur Shastri stadium, VKN Menon Indoor Stadium
APPOINTMENTS & RESIGNATIONS
Nicolas Maduro Moros Sworn in as President of Venezuela for 3rd consecutive term
On January 11 2025, Nicolas Maduro Moros was sworn in as the 53rd President of Venezuela for the 3rd consecutive term. The swearing-in ceremony was held at the National Assembly in Caracas, Venezuela.
- He will be serving as the President of Venezuela for a period of 6 years until 2031.
About Nicolas Maduro:
i.Nicolás Maduro Moros is a Venezuelan politician who began his political career in the 1990s as a Member of the United Socialist Party of Venezuela (PSUV).
ii.In 2006, he served as the Foreign Minister of Venezuela, a position he held until 2013 and gained international recognition for his advocacy of socialist policies.
iii.In 2010, he served as 24th Vice President (VP) of Venezuela under Hugo Rafael Chávez Frías (Former Venezuela President).
iv.In March 2013, he was appointed as interim President (following the death of the former President).
- He won the presidential election and served as the President of Venezuela since April 2013 (6years term).
v.In March 2018, he served as the President for the 2nd consecutive term.
Awards and Honors:
i.In 2015, he received ‘the Order of the Liberator from Bolivia’ Venezuela’s highest civilian award, in recognition of his outstanding services to the country.
ii.In 2007, he received the “Orden Francisco de Miranda” Venezuela’s highest civilian award for his outstanding contributions to the country’s progress.
About Venezuela:
Venezuela is a country in South America.
Capital- Caracas
Currency- Venezuelan Bolívares (VEF)
Joseph Khalil Aoun elected as the 14th President of Lebanon
On January 9 2025,General Joseph Khalil Aoun was elected as the 14th President of Lebanon. He won the parliamentary election by securing 99 votes out of 128 votes. The session was the legislature’s 13th attempt to elect a successor to former President Michel Naim Aoun whose term ended in October 2022.
- He is the fifth army commander to become president in Lebanon’s history.
- Currently, he is serving as the Commander of Lebanese Armed Forces (LAF).
About Joseph Khalil Aoun:
i.Joseph Khalil Aoun joined the ‘Lebanese Army’ in 1983 during the Civil War and received training in the United States of America (USA) and Syria.
- He served as a Platoon commander in the army rangers and participated in several key operations, including the ‘Adma Battle’, Lebanon during the war.
ii.He was promoted to the rank of general in 2013 and he has led the 9th Infantry Brigade in the LAF since 2015.
iii.He was appointed as the 14th Commander of the LAF in 2017 where he successfully led the LAF in counter-terrorism operations against the ‘Islamic State’ and ‘Al-Nusra Front’.
iv.He received widespread backing from political groups within Lebanon, and in December 2023, his term as LAF commander was extended twice, notably during the 2024 Israeli invasion.
Honors and Awards:
i.He has received several military honors, including the War Medal (3 times), ‘Medal of the Wounded’ (twice), and the ‘Order of Merit’ in various classes for his outstanding contributions in LAF.
ii.He has also been recognized with the ‘National Order of the Cedar’, including the rank of ‘Knight and Officer’.
About Lebanon:
Prime Minister (PM)– Najib Azmi Mikati
President- Joseph Khalil Aoun
Capital- Beirut
Currency- Lebanese Pound (LBP)
Brijendra Pratap Singh appointed as CMD of NALCO
On January 10 2025, Brijendra Pratap Singh was appointed as the Chairman-cum-Managing Director (CMD) of National Aluminium Company (NALCO) succeeding Sridhar Patra. He will be presiding over the corporate office of NALCO located in Bhubaneswar, Odisha.
- Prior to joining NALCO, he served as the Director-In-Charge for Burnpur and Durgapur Steel Plant (DSP), West Bengal(WB) and was a member of the Board of Directors (BoD) of Steel Authority of India Limited (SAIL).
i.In 1989, he began his career in the steel industry at the Iron Ore Mine of Bhilai Steel Plant (BSP),Chhattisgarh and has since worked in key positions in both frontline operations and leadership at 4 of SAIL’s integrated steel plants: BSP, BSL (Bokaro Steel Limited), DSP and ISP (Indian Iron and Steel Company (IISCO) Steel Plant).
ii.He has over 35 years of experience in the field of mining and steel sectors.
SCIENCE & TECHNOLOGY
Pixxel announced partnership with SIIS to supply Hyperspectral Satellite Data in Korea 
In January 2025, Bengaluru (Karnataka)-based Pixxel, a space technology startup specialising in hyperspectral earth-imaging technology, announced partnership with Korea-based SIIS Co., Ltd. to supply hyperspectral satellite data in Korea.
- The agreement was signed in November 2024, during the Satellite Utilization Conference in Seoul, South Korea, a major milestone in the process of providing hyperspectral data to relevant institutions and companies in the country.
Key Points:
i.This partnership aims to provide transformative insights that enable end-users across industries to tackle complex challenges.
ii.Pixxel’s hyperspectral data provides significantly more spectral resolution than standard multispectral data, allowing for accurate analysis of the physical and chemical aspects of the Earth’s surface and atmosphere.
iii.Through a partnership with Pixxel, SIIS aims to strengthen its position in the market by fusing material insights from hyperspectral imaging with high-resolution spatial data.
iv.Pixxel is set to launch its Fireflies constellation of six commercial-grade hyperspectral satellites in 2025.
- These satellites are designed to deliver 5-meter(m) resolution, a 40-kilometer(km) swath, and daily revisit capabilities across hundreds of spectral bands.
v.SIIS plans to enhance its Earth observation capabilities with the launch of SpaceEye-T in March 2025.
- This satellite will be Korea’s first private Earth observation platform, offering 30 centimetre(cm) class ultra-high-resolution spatial data to support various applications and industries globally.
About Pixxel:
Pixxel is the first Indian space startup to secure the order from NASA.
Founder and Chief Executive Officer (CEO) – Awais Ahmed
Headquarters – Bengaluru, Karnataka
Established – 2019
ENVIRONMENT
New Pangolin species discovered in Arunachal Pradesh by ZSI team
In January 2025, a new species of pangolin named, the Indo-Burmese pangolin, scientifically called ‘Manis indoburmanica’, was discovered by researchers at the Zoological Survey of India (ZSI) from Arunachal Pradesh (AR). It separated from the Chinese pangolin (Manis pentadactyla) about 3.4 million years ago.
i.This new species belongs to the family ‘Manidae’. The scale is dark brown and dark olive brown, while the face is pinkish in color. The body is covered in bristle-like fur, just like other Asian pangolins.
ii.Researchers have found two rare Order Neuroptera species, ‘Glenochrysa zeylanica’ and ‘Indophanes barbara’ from Kerala. The findings were produced by the Shadpada Entomology Research Lab (SERL) research team at Christ College, Irinjalakuda, Kerala.
- Glenochrysa zeylanica is a green lacewing of the Chrysopidae family in Order Neuroptera.
- Indophanes barbara is an antlion belonging to the Myrmeleontidae family. It can be easily distinguished by their long distinct antennae.
SPORTS
New Zealand Cricketer Martin Guptill Retires from International Cricket
On 9th January 2025, New Zealand cricketer 38-year-old Martin Guptill announced his retirement from international cricket. He played 367 games for New Zealand in total and scored 13,463 runs in his 14-year international career.
i.He played 198 One Day Internationals (ODIs), 122 Twenty20 Internationals (T20Is), 47 Tests and scored 23 centuries across the three formats and breaking numerous white-ball batting records.
ii.He became the first New Zealand cricketer to score an ODI double-century achieving an unbeaten 237 in the International Cricket Council (ICC) Cricket World Cup 2015 quarter-final against the West Indies at Wellington Stadium, New Zealand.
iii.He is the current captain of the Auckland Aces now will continue to play T20 franchise and domestic cricket matches.
OBITUARY
Veteran Soldier Havaldar Baldev Singh Passed Away
In January 2025, Veteran soldier (retired) Havaldar Baldev Singh, who fought four wars against Pakistan, passed away at the age of 93 in Rajouri district, Jammu and Kashmir (J&K). He was born on 27th September 1931 in Naunihal village, Nowshera, J&K.
i.Singh had volunteered at age 16 to join Bal Sena Force under the leadership of Brigadier Usman, Commander of the 50 Para Brigade, during the battle of Nowshera and Jhangar in 1947-48.
ii.In 1950, he joined the Indian Army, where he served for nearly three decades. He served during several battles, notably the India-Pakistan conflicts in 1961, 1962, and 1965.
iii.He retired from service in 1969, but he was recalled during the India-Pakistan war in 1971 and served for another eight months.
BOOKS & AUTHORS
‘How India scaled Mt G20: The inside story of the G20 Presidency’ authored by Amitabh Kant
In January 2025, the book titled ‘How India scaled Mt G20: The inside story of the G20 Presidency’ written by Amitabh Kant was released. This book was published by Rupa Publications India.
- The book explores India’s pivotal role in hosting and shaping the Group of Twenty (G20) during its presidency(December 1, 2022 and ended on November 30, 2023).
i.The book highlights India’s initiatives to address pressing global challenges, such as economic disparities, climate change, and technological innovation.
ii.Amitabh Kant, G20 Sherpa of India, served as the Chief Executive Officer (CEO) of the National Institution for Transforming India (NITI) Aayog, the Government of India (GoI).
IMPORTANT DAYS
National Road Safety Week 2025 – January 11 to 17
National Road Safety Week, organised by the Ministry of Road Transport and Highways (MoRTH), is annually observed across India from January 11-17 every year to raise awareness about road safety. It highlights the need for responsible driving, pedestrian safety, and better road infrastructure to prevent and reduce accidents and save lives.
- 2025 marks the observance of the 36th National Road Safety Week.
Background:
i.The 1st-ever National Road Safety Week, introduced by the MoRTH, was observed in 1989.
- It was later expanded to a month-long observance in 2021 to intensify road safety efforts.
ii.The annual observance is led by the MoRTH to promote road safety measures.
National Road Safety Month (RSM):
i.It is an annual observance introduced by the MoRTH to sensitize citizens and road users about the severity of the challenges of road safety.
- The first National RSM was observed in 2021.
- In 2025 the National RSM is being observed from January 1-31, 2025.
STATE NEWS
Karnataka launches ‘Garudakshi’ portal for Forest Protection
In January 2025, Karnataka’s Forest Department launched ‘Garudakshi’ portal to register an online First Information Report (FIR) cases for forest crimes such as encroachments, poaching, and illegal logging.
- The initiative was inaugurated by the Minister of Forests, Ecology, and Environment Eshwar B. Khandre, which was developed in collaboration with Noida(Uttar Pradesh, UP) based Wildlife Trust of India (WTI).
i.This system aims to increase public participation in forest conservation activities, case management, and efficiency.
ii.Initially, Garudakshi will be implemented on a pilot basis in five divisions: Bengaluru Urban Division, Bengaluru Forest Mobile Squad Division, Bhadravati Division, Sirsi Division, and Male Mahadeshwara Wildlife Division.
iii.The program will be further improved and gradually expanded to all divisions around the State based on experience from the departments.
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