Daily Current Affairs (DCA) 8 March, 2025

Daily Current Affairs Quiz
8 March, 2025

International Affairs

1. India-China Relations

Context:

Chinese Foreign Minister Wang Yi emphasized the need for India and China to support rather than undermine each other, likening their relationship to a ballet between the elephant and the dragon. He acknowledged positive strides in bilateral ties following the resolution of the Eastern Ladakh military stand-off.

Key Diplomatic Developments

• The Xi Jinping-Narendra Modi meeting in Kazan (October 2024) provided strategic guidance for better bilateral ties.
• Since then, both sides have:
  • Strengthened exchanges at various levels.
  • Increased practical cooperation.
  • Achieved several positive diplomatic outcomes.

China’s Position on Border Disputes

• Wang Yi reiterated China’s view that:
  • Border differences should not define bilateral relations.
  • The two nations should prevent disputes from escalating into larger conflicts.

A Unified Global South Against Hegemony

• Wang Yi positioned India and China as key leaders of the Global South, advocating for:
  • Opposition to hegemonism (a veiled reference to the U.S.).
  • Strengthening global democracy in international relations.
  • Greater cooperation to enhance the influence of the Global South.

2. U.S.-Iran Nuclear Tensions

Context:

U.S. President Donald Trump has written to Iran’s Supreme Leader Ayatollah Ali Khamenei, urging negotiations to prevent nuclear weapon development. Warned that military action is an option if Iran refuses to negotiate. Shift in approach from his hardline first-term stance, which could create tensions with Israel, a key U.S. ally.

Iran’s Response

• Foreign Minister Abbas Araghchi rejected direct talks as long as the U.S. continues its “maximum pressure” campaign.
• Stressed that Iran’s nuclear program cannot be dismantled through military action.

Background: JCPOA & U.S.-Iran Relations

• 2015 JCPOA (Iran Nuclear Deal)
  • Imposed restrictions on Iran’s nuclear program in exchange for sanctions relief.
  • Trump withdrew the U.S. in 2018, reimposing harsh sanctions.
• Iran’s reluctance to return to diplomacy stems from the breakdown of trust post-JCPOA collapse.

Geopolitical Implications

• Potential rift with Israel: Israel has opposed diplomacy with Iran and conducted airstrikes on Iranian sites.
• Tensions in the Middle East: Iran’s nuclear ambitions remain a flashpoint in regional security.

Way Forward

Trump’s outreach signals a possible diplomatic opening, but Iran remains firm on not engaging under pressure. The situation remains delicate, with military confrontation still a possibility.

3. U.S.-India Free Trade Agreement (FTA)

Context:

U.S. Secretary of Commerce Howard Lutnick emphasized the need for a broad-based FTA instead of a product-by-product trade deal, which could take years. Urged India to lower tariffs across the board in exchange for greater trade opportunities with the U.S.

Key Highlights from Lutnick’s Address

• Advocated for a comprehensive tariff reduction policy between India and the U.S.

Background & Current Negotiations

• Commerce Minister Piyush Goyal visited Washington (March 4-6) ahead of the April 2 implementation of U.S. reciprocal tariffs.
• India seeks a reprieve, but President Donald Trump has indicated reluctance to offer concessions.
• Both nations are negotiating a Bilateral Trade Agreement (BTA) by October 2025, which may serve as a precursor to an FTA.

Implications

• If India agrees to an FTA, it could open doors to greater access to U.S. markets but might also require significant tariff reductions.
• The U.S. remains firm on enforcing “reciprocal tariffs” if negotiations do not lead to favorable outcomes.

This development signals a high-stakes trade discussion, with India balancing strategic economic interests while seeking trade concessions from the U.S.

National Affairs

1. Duplicate Voter ID Issue

Context:

• The Election Commission (EC) acknowledged the issue of duplicate voter ID numbers and committed to resolving it within three months by ensuring a unique national EPIC number for all voters.

Background of the Controversy

• The controversy surfaced after the Trinamool Congress (TMC) raised concerns, alleging that voters from other states were being added to West Bengal’s electoral roll.
• The EPIC (Electors Photo Identification Card) is a 10-digit unique number issued by the EC to every voter.

EC’s Response and Explanation

• The EC conducted a sample inquiry of over 100 electors, concluding that those with duplicate EPIC numbers were still genuine voters.
• It explained that since 2000, some Electoral Registration Officers (EROs) had mistakenly used the wrong EPIC series, leading to duplicate numbers across states.
• Because each State/UT managed its own voter database, the issue remained undetected for years.
• To fix this, the EC will:
  • Assign a unique EPIC number to all voters with duplicate numbers.
  • Ensure that future voters receive unique EPIC numbers.

Appeal Process for Affected Voters

• First Appeal: File a complaint with the District Magistrate/District Collector/Executive Magistrate under Section 24(a) of the Representation of the People Act, 1950.
• Second Appeal: If unsatisfied, escalate the matter to the Chief Electoral Officer of the respective State/UT.

Key Questions Raised

• If voter IDs were always supposed to be unique, why were duplicate EPIC numbers issued?
• Why did it take decades for the EC to acknowledge and attempt to fix the issue?
• Was the EC misrepresenting facts when it previously claimed all voter IDs were unique?

The EC’s initiative to assign a unique national EPIC number is a crucial step toward electoral transparency. However, the delay in addressing the issue has led to political backlash, raising concerns about electoral integrity and voter list management.

2. Deciphering the Indus Valley Script

The recent claim by cryptographer Yajnadevam (Bharath Rao) regarding the successful decipherment of the Indus Valley script is a groundbreaking development in linguistics, archaeology, and historical narratives. His methodology—using cryptographic techniques based on Claude Shannon’s information theory—offers a fresh approach to a puzzle that has eluded scholars for decades.

This decipherment, if validated, could fundamentally alter our understanding of the Indus Valley Civilization (IVC), its linguistic heritage, and its connection to later Indian history.

Methodological Breakthrough in Decipherment

Why Previous Attempts Failed

• Traditional approaches relied on assigning meanings to symbols in short inscriptions, but the inconsistency of symbol meanings in longer texts led to multiple conflicting interpretations.
• The lack of a bilingual inscription (like the Rosetta Stone for Egyptian hieroglyphs) made conventional linguistic comparisons difficult.

Cryptographic Approach to Decipherment

• Rao applied Shannon’s principle that once enough coded messages are read, the correct solution will emerge uniquely.
• By analyzing symbol frequency and positional patterns, he reconstructed the linguistic structure of the script.

Establishing Sanskrit as the Indus Script’s Language

• Eliminating Agglutinative Languages:
  • Indus inscriptions contained tripled symbols, which do not occur in agglutinative languages like Dravidian or Sumerian but do appear in Vedic Sanskrit.
  • Indus script had complex compound words, similar to Sanskrit but unlike agglutinative languages.
  • Flexible word order in the script matched Sanskrit’s grammatical structure, unlike the rigid prefixes and suffixes in agglutinative languages.
• Validation through Brahmi:
  • The physical similarity of Indus script symbols to Brahmi script and the existence of mixed inscriptions (Indus + Brahmi) suggest that Brahmi evolved from the Indus script, indicating an unbroken linguistic tradition.

Historical Implications of Decipherment

Impact on the Aryan Invasion Theory

• The widely accepted Aryan migration theory states that Sanskrit entered India around 1,500 BCE via steppe migrants.
• However, if the Indus script is Sanskrit-based and dates back to 4,000 BCE, this suggests Sanskrit was already present in the subcontinent thousands of years earlier.
• This would disprove the idea that Sanskrit was imposed by invaders and instead point to indigenous linguistic and cultural continuity.

Rethinking the North-South Divide

• A major argument supporting a historical north-south divide is that northern Indians descend from Aryans, while southerners descend from the original Dravidian inhabitants of the IVC.
• If the Indus script is Sanskrit-based, this undermines the claim that the IVC was Dravidian-speaking.
• Instead, it suggests cultural and linguistic unity between ancient and modern Indian civilization, rather than an imposed northern culture.

Confirming the Maritime & Economic Power of the IVC

• Indus inscriptions mentioning the ocean as ‘home’ correlate with archaeological evidence of extensive Indus trade networks, especially with Mesopotamia.
• References to deities, rituals, and daily life indicate a sophisticated spiritual and social structure, potentially linked to later Hindu traditions.

Challenges & Skepticism in the Academic Community

While Rao’s findings are highly significant, they will inevitably face rigorous academic scrutiny. Some key challenges include:

• Lack of independent verification: No other cryptographers or epigraphists have confirmed Rao’s decipherment.
• Absence of universally accepted translations: The Indus script is still largely undeciphered, and Rao’s work must be tested against multiple inscriptions to gain acceptance.
• Contradictions with existing linguistic models: Mainstream scholars argue that linguistic continuity over thousands of years is rare, requiring further evidence.

Despite these challenges, if Rao’s decipherment holds up under peer review, it could revolutionize Indian history, linguistic studies, and cultural identity.

A Paradigm Shift in Understanding the Indus Valley Civilization

The potential decipherment of the Indus script in Sanskrit challenges long-standing historical narratives about India’s linguistic and cultural evolution. If validated, it could:

• Refute the Aryan migration theory by proving Sanskrit’s existence in India since at least 4,000 BCE.
• Establish a direct link between the Indus Valley Civilization and later Indian traditions.
• Redefine India’s historical identity as an unbroken civilization rather than one shaped by external conquests.

While more validation is needed, this breakthrough offers an exciting avenue for rewriting ancient history with new, data-driven insights.

Source: TOI

3. India’s Defence Deals

Context:

India has recently undertaken major defence upgrades across its Army, Air Force, and Navy, reinforcing its military capabilities amid regional security challenges.

Army Strengthens T-72 Tank Fleet with Russian Engines

• Contract Signed: India has inked a $248 million deal with Russia’s Rosoboronexport (RoE) for the procurement of 1,000 HP engines for its T-72 tanks.
• Technology Transfer: The deal includes local integration and licensed production at Armoured Vehicles Nigam (Heavy Vehicles Factory, Avadi, Chennai) under the ‘Make in India’ initiative.
• Upgraded Mobility & Firepower:
  • Current T-72 tanks are fitted with 780 HP engines; the new 1,000 HP engines will significantly boost battlefield mobility and offensive capability.
  • India has 2,400 T-72 tanks and is also inducting 1,300 T-90S ‘Bhishma’ tanks (out of 1,657 being produced under Russian license).
  • Indigenous tank projects:
    • 118 Arjun Mark-1A tanks (with major upgrades) ordered for ₹7,523 crore in 2021.
    • 354 light tanks under Project Zorawar (₹17,500 crore) to enhance high-altitude warfare capabilities, especially for the Ladakh standoff with China.

IAF’s C-17 Globemaster Lands at Kargil for the First Time

• Strategic Airlift Milestone: The Indian Air Force’s C-17 Globemaster-III aircraft made its first-ever landing at Kargil airfield, near the Line of Control (LOC) with Pakistan.
• Trial Run:
  • Took off from Hindon airbase (Delhi NCR) and successfully landed at Kargil’s 9,700-feet-high airstrip (surrounded by mountains).
  • Next step: Conducting night landings at Kargil.
• Significance: Enhances logistical and operational capabilities in forward areas, crucial for rapid troop and equipment deployment in conflict scenarios.

Indian Navy Wraps Up Major Combat Exercise in Indian Ocean

• Tropex 2024 Concludes:
  • A three-month-long naval exercise tested India’s maritime war-fighting readiness.
  • Participation:
    • 65-70 warships
    • 10 submarines
    • 80+ aircraft and helicopters
    • Joint participation from the Army, IAF, and Coast Guard
• Focus Area: Indian Ocean Region (IOR), amid growing China-Pakistan naval cooperation.
• Objective: Strengthening combat readiness, interoperability, and maritime security.

As India faces evolving security challenges, these measures reinforce its strategic deterrence and operational preparedness.

Source: TOI

Banking/Finance

1. SEBI’s New Chairperson Prioritizes “Optimum Regulation”

Context:

SEBI’s new chairperson, Tuhin Kanta Pandey, emphasized the need to remove outdated and redundant regulations. Stressed that capital markets are dynamic, requiring adaptive and efficient regulation. SEBI will focus on “optimum regulation” rather than maximum regulation.

Background

• Former SEBI Chairperson Madhabi Puri Buch faced scrutiny over alleged offshore fund holdings and a stake in an advisory firm, raising concerns about SEBI’s objectivity.
• Pandey, in his first public address, emphasized that transparency must extend to SEBI itself.

Key Themes in SEBI’s Approach

A. Governance & Ethical Standards

• Regulatory bodies and corporations must uphold the highest standards of governance, transparency, and ethics.
• SEBI aims to review and modernize outdated norms to ensure regulations remain relevant.

B. Shift Towards Balanced Regulation

• Pandey rejects overregulation, advocating for “optimum regulation” instead.
• SEBI will employ a mix of incremental and bold reforms, rather than large-scale disruptive changes.
• Regulatory clean-up: Unnecessary or outdated laws may be scrapped, making compliance easier.

C. Market Accessibility & Investor Confidence

• Encouraging both domestic & foreign investments:
  • SEBI acknowledges the stability provided by domestic institutional investors (DIIs) while recognizing the need to attract Foreign Portfolio Investors (FPIs).
  • A conducive investment climate will be promoted to ensure sustained foreign capital inflows.
• Simplifying processes at all touchpoints (entry, transactions, and exit) to enhance market participation.

D. Technology & Financial Inclusion

• SEBI aims to leverage technology for transparency and efficiency in market operations.
• Financial inclusion initiatives include:
  • Low-value mutual fund SIPs (to encourage retail investment).
  • SME REITs (to widen investment options for small investors).
  • Specialized investment funds (catering to niche investor segments).
• Investor education remains a key pillar of SEBI’s approach, ensuring informed decision-making and risk awareness.

Potential Impact on the Financial Ecosystem

For Investors

• Retail investors may benefit from a more investor-friendly ecosystem, with better transparency, investor education, and accessible investment options.
• A stable regulatory environment will boost confidence among institutional investors and encourage long-term investments.

For Corporations & Market Participants

• Reduced compliance burden due to the review of outdated laws.
• Greater ease of doing business, making India’s markets more attractive for both domestic and global players.

For the Indian Capital Markets

• A balanced mix of domestic and foreign capital could strengthen India’s growth trajectory, ensuring market stability.
• The focus on technology-driven reforms and governance standards may enhance market efficiency and global competitiveness.

Way Forward

Pandey’s vision for SEBI marks a departure from excessive regulation towards a more dynamic and market-responsive approach. By focusing on governance, investor awareness, financial inclusion, and a balanced regulatory framework, SEBI aims to create an efficient, transparent, and resilient capital market that can sustain India’s economic growth.

Source: Mint, BS

2. RBI’s Gold Reserves

Context:

The Reserve Bank of India (RBI) has been aggressively increasing its gold reserves since 2020, making it the second-largest buyer globally after China. This shift signals a deeper strategic and economic intent beyond mere diversification.

Key Highlights:

India is the second-largest gold buyer (post-2020), trailing only China. Total gold added (2020-2024):

• India: 244 tonnes
• China: 336 tonnes

In Q4 2024:

• India added 22.54 tonnes (second-largest buyer globally).
• China added only 15.24 tonnes.
• Singapore reduced holdings by 7.65 tonnes.
• Poland topped the list with 28.53 tonnes.

As of Jan 31, 2025, India’s gold reserves stand at 879 tonnes after adding 3 tonnes in 2025.

Key Reasons Behind RBI’s Gold Accumulation

• Hedging Against Global Economic Uncertainty
  • The post-pandemic world has been marked by high inflation, currency volatility, and rising geopolitical tensions.
  • Gold serves as a safe-haven asset in times of economic instability, insulating India’s reserves from fluctuations in the US dollar and other foreign currencies.
• Geopolitical Strategy & De-dollarization Trends
  • The Russia-Ukraine conflict and resulting sanctions exposed vulnerabilities in relying too heavily on the dollar-based global financial system.
  • BRICS nations, including India, have been increasing their gold reserves, possibly as a long-term hedge against potential shifts in global trade and financial settlements.
  • While India officially denies any de-dollarization policy, its growing gold stockpile suggests a cautious move toward greater monetary sovereignty.
• Balancing Forex Reserve Composition
  • Gold as a proportion of India’s total forex reserves has been rising, indicating an RBI strategy to reduce reliance on US Treasuries and other fiat-denominated assets.
  • Unlike fiat currencies, gold is not subject to credit risk and holds intrinsic value, making it a long-term store of wealth.
• Central Bank Behavior & Market Sentiments
  • Emerging market central banks have been increasing gold reserves in response to US monetary tightening and interest rate volatility.
  • The RBI’s continued buying reflects a belief that gold prices will remain strong due to sustained central bank demand globally.
  • India’s accumulation pattern aligns with a broader trend of diversification away from dollar-heavy reserves.

Potential Implications of This Strategy

• Increased Financial Stability
  • A well-balanced reserve mix strengthens India’s financial resilience during economic downturns or global liquidity crises.
  • Holding gold reduces exposure to external shocks, such as rapid currency depreciation or global credit risks.
• Stronger Bargaining Power in Global Trade & Finance
  • Countries with larger gold reserves often enjoy greater credibility and financial leverage in international trade negotiations.
  • This accumulation could signal India’s intent to play a more assertive role in global financial policymaking.
• Impact on India’s Policy Direction
  • While RBI remains committed to a diversified forex strategy, its gold-buying pattern suggests a long-term shift toward asset-backed reserves rather than purely fiat-based holdings.
  • This trend could influence future monetary policies, trade agreements, and financial stability measures.

The RBI’s continued gold accumulation is a strategic response to geopolitical risks, economic volatility, and changing global financial dynamics. While India officially maintains that it has no de-dollarization agenda, the steady increase in gold reserves points to a long-term strategy of diversification, risk mitigation, and financial autonomy.

3. Nestlé India Receives SEBI Warning Over Insider Trading Breach

Context:

SEBI has issued a warning to Nestlé India for a breach of insider trading regulations by a designated person of the company.

Key Highlights:

• Compliance Officer Notified: Nestlé India’s compliance officer received the administrative warning letter from SEBI on Thursday.
• No Financial Impact: The company clarified that the incident had no material impact on its financials, operations, or other activities.
• Limited Disclosure:
  • Nestlé India did not disclose the findings of the letter.
  • The identity of the person involved remains undisclosed.
• No Immediate Response: Nestlé India has yet to provide an official comment to Reuters.

This incident underscores SEBI’s strict enforcement of insider trading laws, reinforcing the need for corporate transparency and compliance.

4. RBI’s VRR Auctions Signal Easing Liquidity Tightness

Context:

Recent variable rate repo (VRR) auctions by the Reserve Bank of India (RBI) have seen subdued demand, signaling a significant shift in banking system liquidity. This trend suggests that the central bank’s recent measures to inject liquidity are beginning to take effect, potentially altering its policy stance in the near term.

Falling Demand for VRR

Despite offering substantial funds, banks have shown reduced appetite for liquidity through VRR auctions. This shift implies that the liquidity crunch, which had been a major concern since late 2024, is easing. The banking sector appears to have sufficient funds, diminishing the need for borrowing from RBI.

Implication

• Banking system stability: Lower demand for short-term funds suggests banks are managing liquidity better, reducing dependency on RBI’s repo window.
• Easing financial stress: The reduced strain indicates that prior liquidity injections are working, making room for smoother credit flow.

RBI’s Strategic Moves: Preemptive or Reactive?

RBI’s recent interventions—open market operations (OMOs) and forex swaps—are designed to ensure surplus liquidity, especially ahead of the fiscal year-end. These moves reflect a proactive stance rather than a reactionary measure.

Why This Matters

• Ensuring Policy Transmission: RBI’s priority is to make sure the recent repo rate cut (first in 5 years) translates into lower borrowing costs.
• Managing Forex Volatility: By engaging in dollar-rupee swaps, RBI balances currency stability with liquidity needs.
• Preventing Seasonal Squeeze: March typically sees liquidity tightening due to tax outflows, but RBI’s actions seem to have preempted severe constraints.

The Bigger Picture: A Shift in Policy Stance?

With liquidity constraints easing, the RBI might shift focus from aggressive interventions to a more measured approach. This opens up critical questions:

• Will RBI reduce further liquidity injections?
  • Given the improving situation, RBI may not need additional large-scale OMOs.
• How does this impact future rate cuts?
  • A more liquid system supports the case for further rate cuts if inflation remains controlled.
• What about external risks?
  • While domestic liquidity is stabilizing, global market fluctuations and capital outflows could still pose risks.

Future Outlook

• Dividend Transfers from RBI (May 2025)
  • Expected to further boost liquidity, potentially allowing for more accommodative monetary policies.
• Global Dollar Strength vs. Rupee Stability
  • Reduced forex market interventions could signal RBI’s confidence in the rupee’s resilience.
• Banking Sector Response
  • If banks continue to show weak demand for repo funds, RBI might reconsider its liquidity injection pace.

RBI’s recent actions highlight a fine-tuned approach to liquidity management, balancing the need for surplus funds with inflation risks. While the liquidity situation seems under control for now, external shocks and fiscal year-end pressures could still influence RBI’s next moves. How the central bank adapts to these evolving conditions will shape India’s financial stability in the coming months.

Source: Mint

Economy

1. India’s Services PMI Rebounds Amid Economic Challenges

Context:

Services PMI in February rose to 59, up from 56.5 in January, marking a strong rebound from a 25-month low.

Highlights:

• Manufacturing PMI, however, fell to 56.3, a 14-month low, but both sectors remain in expansion mode (PMI > 50).
• GDP Growth (Q3FY25): The National Statistical Office (NSO) reported 6.2% real GDP growth, reinforcing economic resilience despite capital outflows.
• Sensex Performance: Strong Q3FY25 corporate earnings indicate long-term economic strength.

Challenges Ahead

• Trade Tensions & Tariffs
  • U.S. President Donald Trump’s reciprocal tariffs (effective April 2) pose risks for India’s manufacturing sector.
  • Global protectionism could impact exports and economic growth.
• AI Disruption in Services
  • The IT sector’s growth forecast: Expected to rise 5.1% in FY25 (from 3.8% in FY24), but below its historical 16% CAGR.
  • AI is reshaping the industry, reducing earnings from new contracts and changing hiring & training practices.
• Geopolitical & Economic Risks
  • NASSCOM’s 2025 Strategic Review highlights geopolitical instability & rising tariffs as major concerns.
  • A potential U.S. recession could hurt India’s economy, given America is India’s largest trading partner.

The Way Forward

To mitigate these challenges, India must:

• Diversify its trade partnerships beyond traditional markets.
• Adapt to AI-driven disruptions in the IT sector.
• Strengthen domestic demand to offset external risks.

Agriculture

1. Govt Extends Subsidised Loan Scheme to Cooperative Sugar Mills

Context:

The Centre notifies a scheme allowing cooperative sugar mills to access subsidised loans for upgrading ethanol distilleries to dual-feed units. The move is expected to benefit 63 cooperative sugar mills with attached distilleries. Ethanol production can now use grains and corn, alongside traditional molasses-based production.

Loan Subsidy Details

• Cooperative sugar mills will get a 50% interest subvention on project loans or 6%—whichever is lower.
• The subsidy is applicable for five years, including a one-year moratorium.
• Impact on borrowing costs:
  • Most cooperative mills secure loans through National Cooperative Development Corporation (NCDC), which charges ~8.5% interest.
  • Effective interest rate after subvention: ~4.25%.
  • For a ₹200 crore loan, this is a highly attractive rate, said Prakash Naiknavare, MD, National Federation of Cooperative Sugar Factories.

Economic & Operational Impact

• The move extends distillery operations by 2-3 months, beyond the usual 4-5 month molasses supply window.
• Investment requirement:
  • Converting molasses-based distilleries into dual-feed units requires ₹50-60 crore per plant.
  • With lower interest rates, investments will be smoother.
• Until now, only private sugar companies had access to similar incentives.

Ethanol Blending & Future Prospects

• The scheme aligns with the Ethanol Blending Program (EBP), helping India achieve higher ethanol production targets.
• Diversifying feedstock will reduce dependence on sugarcane and ensure year-round ethanol production.
• Strengthens India’s energy security and promotes the biofuel economy.

The scheme marks a major policy shift, supporting cooperative sugar mills and reinforcing India’s ethanol strategy.

Source: BS

Facts To Remember

1. At least one Jan Aushadhi Kendra to be set up near every hospital: Delhi CM

Delhi Chief Minister Rekha Gupta said at least one Jan Aushadhi Kendra will be opened within a 500-metre radius of every hospital in the city.

2. South Korean court orders release of impeached Yoon to stand trial

A South Korean court ordered impeached President Yoon Suk Yeol to be released from jail, a move that could allow Mr. Yoon to stand trial for his rebellion charge without being physically detained. Mr. Yoon was arrested and indicted in January over the December 3 martial law decree that plunged the country into turmoil. 

3. Sri Lanka signs deal worth $2.5 bn with Japan to restructure debt

Sri Lanka signed a deal with Japan on Friday to restructure $2.5 billion in loans, marking the first agreement with official creditors who had pledged debt relief to the cash-strapped nation last year. Japan said it was granting concessions on a 369.45 billion yen ($2.5 billion) loan under a comprehensive debt treatment plan. 

4. Philippines set to sign agreement for troop deployment with Canada

The Philippines and Canada have negotiated a deal for the deployment of troops, Manila said. While the two parties held talks, no timetable was given for the deal. Manila already has similar pacts with the United States, Australia and Japan, against a backdrop of China’s actions in the disputed South China Sea.

5. U.S. cancels $400 million in grants to Columbia

U.S. President Donald Trump has cancelled grants and contracts totalling $400 million to Columbia University due to “inaction in the face of persistent harassment of Jewish students”, the Education Department said.

6. Pranav is World junior champion

V. Pranav is the World junior chess champion. He won the title after drawing his 11th and final round game with Matic Lavrencic of Slovenia at Petrovac (Montenegro). The draw took Pranav’s tally to nine points. He had begun the campaign as the second seed behind Daniel Dardha of Belgium.

7. IndusInd Bank MD & CEO gets 1 yr extension

The Reserve Bank of India (RBI) has granted only a one yearr extension to Sumant Kathpalia, managingg director (MD) and chief executive officer (CEO), IndusInd Bank.

8. International Women’s Day

International Women’s Day (IWD) is a holiday celebrated annually on 8 March as a focal point in the women’s rights movement.

9. President Droupadi Murmu inaugurates national conference on ‘Nari Shakti Se Viksit Bharat’

A day long conference on ‘Nari Shakti Se Viksit Bharat’ began in New Delhi today to mark the International Women’s Day. 

10. President, Vice Prez and PM extend greetings to people on International Women’s Day

President Droupadi Murmu, Vice President Jagdeep Dhankhar and Prime Minister Narendra Modi have extended greetings to the people on the occasion of International Women’s Day.

11. Indian Grandmaster Pranav Venkatesh becomes World Junior Chess Champion 2025

In chess, 18-year-old Indian Grandmaster Pranav Venkatesh dominated the FIDE World Junior Championship 2025 to claim the title in Montenegro last night. Pranav becomes the fourth Indian to win the World Junior title, following Viswanathan Anand, Pentala Harikrishna, and Abhijeet Gupta.

12. India Clinch 5th Asian Women’s Kabaddi Title, Defeat Iran 32-25 in Final

The Indian Women’s Kabaddi Team has been crowned Asian Champions for the fifth time. The defending champions, India, defeated hosts Iran, 32-25, in the final of the 6th Asian Women’s Kabaddi Championship at Tehran this afternoon.