1. Suruchi Singh wins air pistol gold Suruchi Singh asserted her undisputed class as she defeated three Chinese, with a 2.4 point margin for the women’s air pistol gold, in the shooting World Cup in Buenos Aires. 2. India gets its first Grade-1 karting circuit as MIKA receives CIK-FIA certification The Madras International Karting Arena (MIKA) in Sriperumbudur, near here, received the highly coveted CIK-FIA Grade-1 certification, thus placing the facility among elite karting circuits in the World. 3. ´One State, One RRB´ to be effective from May 1 2025 The Union government releaseda gazetted notification announcing the amalgamation of several Regional Rural Banks (RRBs) effective from May 1. In line with the powers granted under Section 23A(1) of the Regional Rural Banks Act, 1976, the notification stipulates that these RRBs will merge intoa single entity, inheriting their respective properties, powers, rights, obligations, and duties. 4. India´s first climate change station launched in J&K Union Minister Dr Jitendra Singh launched India´s first highaltitude climate research station in Jammu and Kashmir´s Udhampur district on Tuesday and said that India is now at the forefront of climate forecasting and research in the Himalayas. 5. India, Slovakia sign two MoUs to cooperate in MSMEs & Foreign service President Droupadi Murmu today discussed various aspects of bilateral relations and issues of shared global and regional interests with President Peter Pellegrini of the Slovak Republic during one-to-one meeting and delegation-level talks in Bratislava. 6. RBI cuts repo rate by 25 basis points, switches to accommodative stance to spur growth Slashing policy rates for the second time in a row, the Monetary Policy Committee of the Reserve Bank of India today unanimously announced a reduction of 25 basis points in the policy repo rate, bringing it down to 6 percent. 7. RBI lowers GDP growth forecast to 6.5% for 2025-26 RBI has projected GDP growth for 2025-26 at 6.5 percent. RBI has said that this downward revision of its earlier assessment of 6.7 percent essentially reflects the impact of global trade and policy uncertainties. 8. CBDT notifies April 30 as last date to submit tax arrears declaration under Vivad se Vishwas Scheme The Central Board of Direct Taxes (CBDT) has notified that the last date to submit a tax arrears declaration under the Direct Tax Vivad se Vishwas Scheme is the end of this month. 9. BIMSTEC Agriculture Ministers meet to discuss status, challenges, collaboration The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Agriculture Ministers-level meeting is taking place in Kathmandu today.
Agri Founders Retreat 2025
Context: The fourth edition of the Agri Founders Retreat was recently held at Chilika, Odisha, with 57 agricultural entrepreneurs from across India participating in the event. This edition followed earlier retreats in Nashik, Bengaluru, and Jaipur. A Different Kind of Agri-Tech Meet Unlike conventional conferences, the retreat deliberately excluded pitch decks, panel discussions, and networking rituals like business card exchanges. Instead, it offered a safe space for vulnerability, honesty, and collaboration, focusing on: Diverse Participants The retreat saw a dynamic mix of entrepreneurs including: Key Themes & Conversations Participants engaged in deep, sincere conversations around: Significance This retreat format is gaining traction as a transformative model for founder wellness, cross-disciplinary collaboration, and community-driven innovation in agriculture. It marks a shift away from competitive, investment-centric models to a human-first, ecosystem-centric approach. BL
Rupee Falls Below 86 as Yuan Weakens and Dollar Demand Surges
Context: The Indian rupee continued its decline on Tuesday, falling by 0.5% to close at ₹86.26 per US dollar, compared to Monday’s ₹85.86. The fall was largely attributed to: On Monday, the rupee had already declined by 0.7%, reversing its year-to-date gains. Yuan at 19-Month Low Amid US-China Trade Tensions The Chinese Yuan dropped to 7.35 per USD, its lowest since September 2023, after signals emerged that the People’s Bank of China may allow further depreciation to offset the economic impact of U.S. tariffs. Strength in US Dollar and Treasury Yields The dollar index rose to 103.27 on Tuesday from 102.75 the previous day, supported by: Oil Price Crash Fuels Importer Dollar Demand Global oil prices have fallen to a four-year low, prompting Indian oil companies to ramp up dollar purchases to lock in cheaper prices, adding pressure on the rupee. Key Indicators Metric Value/Change Rupee Close (Tuesday) ₹86.26/$ Dollar Index 103.27 (vs 102.75 Monday) Yuan Level 7.35/$ Oil Prices Four-year low Rupee YTD Depreciation 0.8% Expected RBI Repo Cut 25 bps (to 6.00%) BS
Government Launches ₹22,919 Cr Electronics Component Manufacturing Scheme
Context: Government Launches ₹22,919 Cr Electronics Component Manufacturing Scheme. Objective and Scope Operational Timeline Key Features of the Scheme Incentive Structure Governance and Oversight Complementing India’s Electronics Manufacturing Vision Growth Statistics & Milestones BS
Niveshak Didi Initiative – Phase 2 (April 2025)
Context: Key Details What is Niveshak Didi? Launch Timeline Partnering Entities Primary Objectives Phase 2 Highlights Inclusivity and Reach
Piramal Finance Exits Housing Finance Segment; Transitions to NBFC-ICC Model
Context: Piramal Finance Ltd. (PFL), formerly known as Piramal Capital & Housing Finance, has officially exited the housing finance business after surrendering its Housing Finance Company (HFC) license. This strategic move follows the Reserve Bank of India (RBI) granting it a new Certificate of Registration (CoR) on April 4, 2025, under Section 45 IA of the RBI Act, 1934. Key Developments: Why It Matters BS
Bank of Baroda Launches ‘Square Drive’ FD Scheme
Context: Bank of Baroda (BoB) has introduced a new fixed deposit scheme, dubbed the ‘bob Square Drive Deposit Scheme’, offering attractive interest rates up to 7.80% per annum. This move comes as part of BoB’s strategic shift to offer more competitive and flexible investment products in the current economic climate. Key Highlights of the Square Drive FD Scheme: This scheme is ideal for conservative investors looking for secure returns over a short-to-mid-term horizon. Utsav Deposit Scheme Discontinued Simultaneously, BoB has withdrawn the Utsav Deposit Scheme, a festive-time offering, and made adjustments to existing FD rates across tenures to better reflect market dynamics. Why it Matters: TET
One State, One RRB’ Model
Context: The Department of Financial Services under the Ministry of Finance has notified the merger of 26 Regional Rural Banks (RRBs) to streamline rural banking under the ‘One State, One RRB‘ strategy. This marks the fourth phase of RRB consolidation, aimed at improving efficiency, cost-effectiveness, and scale in rural banking operations. Key Highlights States Undergoing RRB Mergers Historical Context of RRB Consolidation Phase Timeline RRBs Reduced From To Phase 1 FY06 – FY10 196 82 Phase 2 FY13 – FY15 82 56 Phase 3 FY19 – FY21 56 43 Phase 4 Effective May 1, 2026 43 28 Objectives of the Merger Mint
RBI’s OMO Sees Strong Demand
Context: Bond-Wise Demand and Cutoff Insights RBI’s Liquidity Management Strategy Forecast & Expected Measures TET
SEBI’s Overprotection
The Nanny Regulator’s New Avatar PAN Card? Not Enough Anymore Trading Meets Health Check-Ups Insurance and Family NOCs: The Final Touches Tongue-in-Cheek Take on Overregulation TET
