Context: NASA astronauts Butch Wilmore and Sunita Williams returned to Earth on March 18, 2025, after an extended 286-day mission in space. Key Highlights Mission Details Challenges and Political Backdrop Post-Return Process The return of Wilmore and Williams marks the end of an unexpected and extended mission that tested both technology and human endurance. Their resilience, professionalism, and adaptability highlight the unpredictable nature of space exploration and the unwavering spirit of astronauts in facing challenges with composure. Source: TH
Israel Launches Air Strikes on Gaza
Context: Air strikes were carried out by Israel across the entirety of the Gaza Strip. At least 400 Palestinians dead, majority of them women and children, according to local health officials. These are considered the deadliest attacks on the Gaza since the outbreak of the 17 month war. Reason for Attack Military Developments International Reaction Possible Consequences Source: TH
Daily Current Affairs (DCA) 18 March, 2025
Daily Current Affairs Quiz18 March, 2025 International Affairs 1. India Strengthens Defence Ties with US, New Zealand, and Australia Context: India is intensifying defence cooperation with key Western allies the US, New Zealand, and Australia all part of the Five Eyes intelligence-sharing alliance (alongside Canada and the UK). This reflects India’s strategic positioning to counter China’s influence in the Indo-Pacific and Indian Ocean regions. India’s intensified defence diplomacy with the US, New Zealand, and Australia highlights its proactive strategy to enhance maritime security, strengthen defence capabilities, and counter China’s regional influence. These engagements also reflect India’s broader ambition to become a key security partner in the Indo-Pacific and a leader in fostering multilateral cooperation in the region. Source: BS 2. India–New Zealand Strengthen Trade and Digital Cooperation The renewed engagement between India and New Zealand, marked by trade negotiations, digital payments cooperation, and future-oriented tech collaboration, signals a concerted effort to transform their modest trade ties into a strategic and multifaceted partnership. With a focus on digital innovation, supply chain facilitation, and direct connectivity, both nations are well-positioned to capitalize on complementary strengths for mutual economic and strategic gains. 3. India–U.S. Trade Talks Context: Commerce Secretary Sunil Barthwal stated that India and the U.S. are “proactively engaged” in discussions to boost bilateral trade. Recent Developments Mission 500 Tariffs and Tesla Electric Vehicle Policy U.S. Position Source: TH 4. U.S. Withdrawal from the Ukraine War Crimes Prosecution Group Context: The U.S. Justice Department has formally notified European officials of its decision to withdraw from the International Centre for the Prosecution of the Crime of Aggression (ICPA) by the end of March 2025. Key Highlights: While this decision may align with Trump’s broader foreign policy strategy of recalibration and reduced international legal entanglements, it risks undermining global accountability initiatives, weakening collective pressure on Russia, and causing friction with European allies committed to holding aggressors accountable. Source: BS 5. U.S. Launches Strikes on Houthis in Yemen Context: The US has launched a “decisive and powerful” wave of air strikes on Houthi rebels in Yemen, President Donald Trump has said, citing the group’s attacks on shipping in the Red Sea as the reason. Key Objectives Nature of the Campaign Houthi Response Who are the Houthis? Why are they attacking ships? Solidarity with Palestinians: Wider Anti-West and Anti-Israel Stance: Pressure Tactics: Impact of the Attacks Response from the West and Israel Iran’s Position Historical Context Strategic Risks and Challenges Regional Dynamics Takeaways Source: Mint & BBC National Affairs 1. Pradhan Mantri Internship Scheme (PMIS) Mobile App Context: Fifteen days ago, on 6th July 2023, Finance Minister Nirmala Sitharaman launched the mobile application for candidates accessing the Pradhan Mantri Internship Scheme. She called upon more and more companies to join in the efforts to instill confidence in the youth of India, particularly those from Tier II and Tier III cities. Scheme Coverage and Purpose Current Progress (Second Pilot Round) Extend in Industries Key Highlights of the PMIS Mobile App Indeed, the PMIS mobile app comes as an instrument for achieving the objective of imparting basic job market exposure to youth. Again, with continuous support from the industry and government, this initiative would eventually propel the process of nurturing a healthy and competent workforce all over India. 2. PM Surya Ghar Muft Bijli Yojana (PMSGMBY) Scheme Overview Funding and Application Response Performance Status Challenges Identified Recommendations for Improvement The PMSGMBY is a high-potential initiative with robust funding and public interest. However, it risks underperforming due to solvable bottlenecks around quality assurance, discom cooperation, and uneven implementation. With corrective action and administrative urgency, the scheme can play a pivotal role in reducing India’s dependence on thermal power and contribute to climate resilience in an increasingly warming environment. 3. Rise in Seasonal Influenza Cases Context: Recent reports indicate a rise in seasonal influenza cases in the Delhi-NCR region. Predominant strains this season: Influenza A and Influenza B. Influenza Seasonality in India Surveillance and Preparedness Key Public Health Challenge Vaccination 4. Genetic Cause of Early Lung Cancer Relapse Background Key Findings Aspect Details Study Scope Analyzed data from 483 lung cancer patients with EGFR mutations. Discovery Presence of mutations in certain tumor suppressor genes (TSGs) along with EGFR mutation increases risk of early relapse. Survival Impact – Patients with TSG mutations had an average survival of 51.11 months compared to 99.3 months for others. – Progression-free survival was also significantly shorter. Identified Genes A group of 17 tumor suppressor genes found to contribute to therapy resistance and early relapse. Methodology Process Details Genetic Sequencing Performed on tumor samples from 16 patients before and after relapse to understand genetic evolution. Liquid Biopsy – Blood-based testing used to detect cancer DNA fragments. – 200 blood samples from 25 patients tracked over time using technology from One Cell Diagnostics. Evolution Tracking Found that mutations in the 17 TSGs were present at early stages and became dominant as treatment progressed. Implications of the Study Contributors and Support Research Institutions: University of Delhi South Campus, Tata Memorial Centre (Mumbai), One Cell Diagnostics (Pune) India This study provides a critical genetic insight into why certain lung cancer patients relapse early. Early genetic profiling can potentially revolutionize treatment protocols and outcomes for lung adenocarcinoma patients. Source: The Indian Express Banking/Finance 1. FIA vs. SEBI Context: The Futures Industry Association (FIA), a global derivatives market body representing members ranging from clearing corporations to foreign portfolio investors, has voiced strong opposition to the Securities and Exchange Board of India’s (Sebi’s) proposed overhaul of open interest (OI) calculation and position limits for index futures and options (F&O). SEBI’s Proposal (February 24, 2025) Issue FIA’s Concern Liquidity Drain Could lead to wider bid-ask spreads, reduce institutional participation, and undermine market depth. Increased Trading Costs Higher operational and compliance costs due to complex calculations and monitoring requirements. Market Volatility Restrictions may cause higher price swings and instability. Price Manipulation Risks Paradoxically, inefficiencies could increase the chance of price manipulation. Operational Challenges Delta-adjusted OI method is rare globally, adding significant complexity and
OECD India’s Economic Growth Forecast
Context: The Organisation for Economic Co-operation and Development (OECD) has revised downwards India’s economic growth forecast for FY26 to 6.4% from 6.9% projected in its December outlook, amid rising global uncertainty. Key Updates Global Comparison Key Insights from OECD Report Inflation Projections for India Global Economic Outlook Source: TET
Rupee Strengthens for the Third Day
Growth in Net Direct Tax Collections
What is Direct tax and Indirect Tax? Key Highlights India’s direct tax collection growth is a positive signal of economic resilience, rising income levels, and improved tax compliance. While corporate tax growth has been steady, the surge in non-corporate tax and STT reflects deeper market participation and increasing formalization of small businesses and individuals in the tax net. Source: BS
India’s Trade Balance Dynamics
Key Trends and Data The real challenge is structural India needs to focus on competitiveness, diversification, and securing greater market access in China. Otherwise, external shocks, like policy changes from the US, could disproportionately widen the trade gap and hurt macroeconomic stability.
India’s WPI Inflation Rises
Key Highlights India’s slight uptick in WPI inflation in February was driven by rising prices in manufactured goods and narrowing fuel price deflation, while food inflation showed signs of easing. With global commodity markets regaining strength and geopolitical factors remaining uncertain, inflation dynamics will continue to be closely monitored. Source: BS
Short-Term Borrowings Likely to Get Cheaper for Indian Banks
Context: Industry experts expect short-term borrowing costs (like Certificates of Deposit and Commercial Paper rates) to ease as early as next month. The expected drop is due to multiple liquidity infusion measures by the Reserve Bank of India (RBI). Lower borrowing costs should eventually lead to softer lending rates. Central Bank’s Liquidity Actions Impact on Rates Additional Factors Adding to Liquidity Outlook
Statutory Liquidity Ratio (SLR)
Purpose and Importance of SLR Difference Between SLR and CRR Aspect SLR (Statutory Liquidity Ratio) CRR (Cash Reserve Ratio) Definition Minimum percentage of deposits to be kept in liquid assets by the bank itself Minimum percentage of deposits to be kept as cash with RBI Form Cash, gold, or approved government securities Only cash Held With Maintained by the bank in its own vaults Maintained with RBI Interest Banks earn interest on government securities kept as SLR No interest is paid on CRR reserves Flexibility Used to manage liquidity and support government borrowing More actively used for controlling liquidity and inflation Overview
