Daily Current Affairs (DCA) 27 & 28 April, 2025

Daily Current Affairs Quiz
27 & 28 April, 2025

International Affairs

1. US-India Trade Negotiations and Non-Tariff Barriers

Context:

The ongoing trade discussions between the US and India have been marked by concerns over non-tariff barriers affecting market access, particularly for American businesses. These barriers are being addressed through side letters exchanged between trade ministers from both countries, outside of the official framework of the Early Harvest Trade Agreement (ECTA).

Key Concerns Raised by the US:

• Non-Tariff Barriers:
  • US Vice President JD Vance has urged India to remove these barriers, which restrict the ability of American companies to access Indian markets.
  • The United States Trade Representative (USTR) flagged concerns in its National Trade Estimate report, highlighting issues such as:
    • India’s DPDP Act: The USTR warned that draft rules of India’s Data Privacy and Protection Act (DPDP) could impose burdensome requirements on businesses, particularly data fiduciaries, and force personal data disclosure to the Indian government.
    • Cross-Border Data Transfer Restrictions: The rules also propose the ability to restrict data transfers to certain countries, which could affect international businesses.
    • Sector-Specific Data Localization: The draft rules may introduce data localization requirements that would mandate companies to store data within India.
• Local Content and Market Access Issues:
  • The Coalition of Services Industries (CSI), including major US firms like Google, Amazon, and Mastercard, raised multiple concerns:
    • Local Content Requirements: These requirements create barriers for foreign companies to compete in India’s market.
    • Favoritism towards UPI and Rupay: The dominance of India’s Unified Payments Interface (UPI) and Rupay cards creates an uneven playing field.
    • Telecom Equipment Certification: The mandatory testing and certification of telecom equipment can increase costs and delays for foreign companies.
    • Differential Tax Treatment: The disparity in tax treatment between Indian and foreign firms is another point of contention.
    • Customs Duties on IT Products: High duties on information technology products also remain an issue.
• Quality Control Orders and Trade Barriers Across Sectors:
  • Quality Control Orders: The numerous orders issued by the Indian government on various products are a source of frustration for US companies.
  • Sector-Specific Barriers: Sanjay Notani, senior partner at Economic Laws Practice, emphasized the need to understand these barriers sector-by-sector. He pointed out that issues range from local content requirements, licensing, standards, and testing in industries like metals, chemicals, capital goods, and telecom.

Trade Deal Negotiations:

• Bilateral Trade Agreement (BTA):
  • US Treasury Secretary Scott Bessent expressed expectations that India would strike its first bilateral trade deal to avoid reciprocal tariffs imposed by President Donald Trump.
  • A negotiating team from India’s Commerce Department, led by Rajesh Agrawal, the Chief Negotiator and Commerce Secretary-designate, recently visited Washington DC to work on the trade deal.
  • Both countries aim to conclude the first tranche of the BTA by the fall of 2025. However, India is hoping to finalize an early tranche by July 8, 2025, to prevent the expiration of the current pause on country-specific tariffs.

The trade discussions between the US and India have underscored significant challenges posed by non-tariff barriers in various sectors. While both countries have committed to resolving these issues, the complexity of these barriers requires a sector-by-sector approach to ensure mutual market access and fairness. The ongoing negotiations aim to secure a trade deal that addresses these concerns and avoids the imposition of reciprocal tariffs, with hopes of finalizing key agreements in the coming months.

BS

National Affairs

1. Kailash Mansarovar Yatra to Resume After Six Years

Context:

After a six-year suspension, the Kailash Mansarovar Yatra will restart in 2025, with about 750 Indian pilgrims set to travel to Tibet between June and August. The Ministry of External Affairs (MEA) announced that the first batch will depart from Delhi on June 30, slightly later than the early June schedules of previous years.

Background

• The pilgrimage, initiated in 1981 under a bilateral agreement between India and China, was halted in 2020 due to the COVID-19 pandemic.
• Subsequent border tensions, including the Galwan Valley clashes, further delayed the resumption of the yatra.

Diplomatic Context

• The resumption of the Kailash Mansarovar Yatra is seen as an important step towards normalizing India-China relations.
• Disengagement at friction points along the Line of Actual Control was completed in October 2024, but broader de-escalation talks are ongoing.
• Delhi and Beijing are also negotiating the restoration of direct flights, full resumption of visa services, and people-to-people exchanges including media and think tanks.

Significance

• The revival of the Kailash Mansarovar Yatra signals a cautious but positive shift in India-China bilateral relations after years of strained ties.

TOI

2. India Expands Claim in Arabian Sea by 10,000 Sq Km

Context:

India has expanded its extended continental shelf claim in the central Arabian Sea by nearly 10,000 square kilometers, while modifying earlier submissions to sidestep a long-standing maritime dispute with Pakistan. The updated documents were submitted this month to the United Nations Commission on the Limits of the Continental Shelf (CLCS).

Understanding Extended Continental Shelf (ECS)

• Coastal states have exclusive rights over their Exclusive Economic Zone (EEZ) up to 200 nautical miles.
• Beyond the EEZ, countries can claim additional seabed areas by proving geologically that the seabed is a natural prolongation of their landmass.
• Extended continental shelves allow countries to explore and exploit valuable seabed resources like polymetallic nodules, oil, and minerals.

Arabian Sea

The Arabian Sea is a major body of water in the northern Indian Ocean, playing a significant role in international trade and regional maritime activities. It is bordered by several countries and regions:

• West: Arabian Peninsula, Gulf of Aden, and Guardafui Channel
• Northwest: Gulf of Oman and Iran
• North: Pakistan
• East: India
• Southeast: Laccadive Sea and the Maldives
• Southwest: Somalia

Key Characteristics:

• Total Area: 3,862,000 km² (1,491,000 sq mi)
• Maximum Depth: 5,395 meters (17,700 feet)

Strategic Waterways:

• Gulf of Aden: Connects the Arabian Sea to the Red Sea through the Bab-el-Mandeb Strait.
• Gulf of Oman: Located in the northwest, it links the Arabian Sea to the Persian Gulf.

The Arabian Sea is vital for global shipping routes, especially for oil and cargo traffic between the East and West. It has also been a historical center for trade and cultural exchange.

India’s Strategy

• With the addition of the new claims, India’s extended continental shelf could reach 1.2 million sq km, combining with its 2 million sq km EEZ to create a seabed and sub-seabed area nearly equivalent to its land area of 3.274 million sq km, according to the National Centre for Polar and Ocean Research (NCPOR), Goa.
• India originally submitted its claim in 2009 across the Bay of Bengal, the Indian Ocean, and the Arabian Sea.

Handling Disputes

• Pakistan objected to parts of India’s earlier claims in 2021, citing overlaps near the disputed Sir Creek area between Gujarat and Sindh.
• Following Pakistan’s objection, the CLCS rejected India’s entire Arabian Sea claim in 2023.
• In response, on April 3, 2025, India split its claim into two partial submissions, ensuring its uncontested claim in the central Arabian Sea is prioritized for approval.

International Dynamics

• Some overlaps exist between India’s claims and Oman’s, but both countries have a 2010 agreement that recognizes the boundary as pending delimitation without dispute.
• India also faces challenges in the Bay of Bengal and Indian Ocean regions, with contests from Myanmar and Sri Lanka.

Significance

• Strengthening its seabed claims boosts India’s access to strategic underwater resources and enhances its maritime influence in the Indian Ocean region.

TH

3. INSPACe Initiative: Satellite Bus as a Service (SBaaS)

Context:

India’s Indian National Space Promotion and Authorization Centre (INSPACe) has launched a new initiative aimed at reducing the country’s import dependence and fostering innovation in the space sector. The Satellite Bus as a Service (SBaaS) program invites private companies to design and develop satellite bus platforms for small satellite missions, which will support multiple payload applications.

Key Highlights of the SBaaS Initiative

• Objective: The program is focused on enabling Indian private sector participation in satellite platform development, particularly for small satellite missions. The initiative aims to reduce reliance on foreign imports by developing modular, multimission satellite bus systems in India.
• Eligibility: The program is open to Indian non-governmental entities (NGEs). They will be responsible for designing, developing, and realizing satellite bus platforms capable of hosting various payloads.
• Phased Approach:
  • Phase I: Up to four Indian NGEs will be shortlisted based on their technical capabilities. These entities will work on developing the satellite bus system.
  • Phase II: INSPACe will support up to two hosted payload missions to demonstrate the utility and performance of the developed satellite platforms.
• Benefits: The initiative aims to:
  • Democratize access to India’s space sector by enabling private players.
  • Reduce time to orbit and facilitate in-orbit demonstrations of payloads.
  • Bridge the gap between payload developers and satellite platform providers through standardized, modular platforms.
  • Foster cost-effective solutions for payload validation and accelerate emerging technologies in the space industry.

Vision for India’s Space Sector

Pawan Goenka, Chairman of INSPACe, emphasized the importance of the SBaaS initiative in democratizing India’s space sector and positioning the country as a global service provider for small satellite bus and hosted payload services.

Rajeev Jyoti, Director of Technical Directorate at INSPACe, highlighted that this initiative would streamline access to flight platforms, making the development cycle for space technologies faster and more efficient.

India’s Space Industry

• India’s space sector has rapidly grown, with over 325 space startups operating in the country, up from just one a decade ago.
• Prime Minister Narendra Modi, in his Mann Ki Baat broadcast, celebrated the country’s 50th anniversary of the launch of the Aryabhata satellite and recognized India’s leadership in providing a cost-effective and successful space program. He further stated that India is now poised to reach even greater heights in space exploration.

INSPACe’s SBaaS initiative marks a significant step toward making India a global leader in satellite services. By encouraging innovation and private sector involvement, India is reducing its dependency on imports while enhancing its space capabilities. This initiative not only supports the growth of emerging space technologies but also positions India as a hub for global satellite bus solutions in the years to come.

BS

4. Cheetah Cubs Born at Kuno National Park

Birth of Five Cheetah Cubs:

• Kuno National Park, located in Madhya Pradesh, has welcomed five new cheetah cubs, born to parents from distinct genetic lineages—South Africa and Namibia. This marks a significant milestone in India’s cheetah reintroduction efforts under Project Cheetah.
• The cubs’ father, Gaurav, is from Namibia, while the mother, Nirva, hails from the Mapesu Reserve in South Africa. The birth of these cubs is celebrated as a step forward in the success of cheetah conservation efforts in India.

Genetic Diversity for Long-Term Survival

• The mixing of genetic lineages from South Africa and Namibia is vital for the long-term health and adaptability of the cheetah population. A diverse gene pool helps mitigate the risks associated with inbreeding, such as genetic defects and a lower resilience to diseases.
• This development is crucial in enhancing the adaptability of the cheetahs to India’s environment, making them more robust in the face of changing conditions.

Growth of Cheetah Population at Kuno

• With the birth of these cubs, Kuno National Park now hosts 19 cheetah cubs in total, alongside adult cheetahs. The growing population signifies that the reintroduced cheetahs have acclimatized well to their new habitat.

Project Cheetah Success

• The success of this new generation of cheetahs underlines the broader goals of Project Cheetah, which aims to reintroduce the cheetah species to India, where they had been extinct for decades. The birth of these cubs represents a hopeful step towards ensuring the long-term survival and growth of the cheetah population in India.

The Indian Express

5. India’s Progress in Reducing Poverty

Context:

India has made substantial strides in poverty reduction, with notable improvements in both rural and urban areas. The World Bank‘s recent report highlights several key aspects of this progress, including the decline in extreme poverty, multidimensional poverty, and significant changes in income inequality and employment dynamics.

Extreme Poverty Decline

• Global Poverty Line (PPP $2.15 per day):
  • Overall Decline: Extreme poverty dropped from 16% in 2011–12 to 2.3% in 2022–23.
  • Rural vs Urban:
    • Rural extreme poverty fell from 18.4% to 2.8%.
    • Urban extreme poverty dropped from 10.7% to 1.1%.
  • Rural-Urban Gap: The rural-urban poverty gap decreased from 7.7 percentage points in 2011–12 to 1.7 percentage points in 2022–23, reflecting a 16% annual reduction.
• LMIC Poverty Threshold ($3.65 per day):
  • Overall Decline: Poverty fell from 61.8% to 28.1%, lifting 378 million people out of poverty.
  • Rural vs Urban:
    • Rural poverty decreased from 69% to 32.5%.
    • Urban poverty dropped from 43.5% to 17.2%.
  • Rural-Urban Gap: Reduced from 25 to 15 percentage points, indicating a 7% annual decline.
• Multidimensional Poverty Index (MPI):
  • Excluding nutrition and health deprivations, non-monetary poverty fell from 53.8% in 2005–06 to 16.4% in 2019–21, and further to 15.5% in 2022–23.

Challenges in Data Comparability

• N C Saxena, former Planning Commission secretary, pointed out that changes in data collection methodology may pose challenges to comparability. He emphasized the need for independent data sources such as the Census and NFHS to ensure accurate poverty assessments.

State Contributions to Poverty

• Key States:
  • Uttar Pradesh, Maharashtra, Bihar, West Bengal, and Madhya Pradesh together accounted for 54% of the extreme poor in 2022–23.
  • These states represented 65% of the extreme poor in 2011–12 and contributed to two-thirds of the poverty reduction by 2022–23.

Potential Adjustments to Poverty Estimates

• Revised estimates under new poverty lines and 2021 PPPs could show:
  • $3 per day threshold: 5.3% poverty rate in 2022–23.
  • $4.20 per day threshold: 23.9% poverty rate.

Income Inequality and Employment Trends

• Wage Disparities:
  • In 2023–24, the top 10% earned 13 times more than the bottom 10%.
  • The Gini index based on consumption improved from 28.8 in 2011–12 to 25.5 in 2022–23, but income inequality worsened, with the Gini coefficient rising from 52 in 2004 to 62 in 2023.
• Employment Challenges:
  • Youth Unemployment: 13.3% overall, rising to 29% among tertiary-educated graduates.
  • Informal Employment: 23% of non-farm paid jobs are formal, while most agricultural jobs remain informal.
  • Self-Employment: Rising among rural workers and women.
  • Female Employment: The female employment rate stands at 31%, with 234 million more men in paid employment.
• Employment Growth: Since 2021–22, employment growth has outpaced the expansion of the working-age population.

India has made remarkable progress in reducing extreme poverty, with significant gains in both rural and urban areas. However, challenges remain in addressing income inequality, ensuring sustainable employment, and overcoming data comparability issues. The focus on improving employment opportunities, particularly for youth and women, and maintaining inclusive economic growth will be crucial for sustaining this progress in the future.

Science & Tech

1. Genome India Data

Context:

On January 9, 2025, the Department of Biotechnology (DBT) issued a call for proposals for translational research using Genome India data, targeting India-based scientists. The original submission deadline of February 28, 2025, was later extended to March 31, 2025.

About the Genome India Project

• The 10,000 Human Genome Project collected blood samples and phenotype data from over 20,000 individuals across 83 population groups (30 tribal and 53 non-tribal).
• Preliminary findings based on genetic data from 9,772 individuals were published as a Commentary in Nature Genetics on April 8, 2025.

Key Issues Raised

• Despite the vast phenotypic data collected (height, weight, waist/hip circumference, blood pressure, blood counts, glucose, lipid profiles, liver and kidney function tests), neither the original proposal call nor the addendum disclosed these datasets.
• The Commentary article, which listed available phenotype data, was published after the proposal submission deadline, leaving many researchers uninformed.
• GenomeIndia’s official website also did not detail the available phenotype data.

Government Response:

• A DBT spokesperson clarified that anthropometric and blood biochemistry data were collected to ensure the health status of individuals sampled.
• The spokesperson cited the One Nation One Subscription scheme, aimed at providing free journal access; however, it currently benefits only researchers from public institutions.

Accessibility Disparity:

• Researchers from the 20 institutions involved in Genome India were aware of the phenotype data.
• External researchers were at a disadvantage, lacking essential information needed to submit competitive proposals.

Significance:

• The controversy highlights urgent concerns about data transparency, equal research opportunity, and the need for fair access to publicly funded scientific resources in India.

TH

2. Google’s Expansion of AI in India

Context:

Google is accelerating its AI integration across key areas like search, advertising, and YouTube in India, one of its fastest-growing digital markets. The company’s AI-driven tools aim to revolutionize advertising by improving consumer targeting and creating more engaging formats, particularly through YouTube and Google Search.

AI-Powered Advertising: Driving Growth in India

• AI in YouTube and Connected TV (CTV)
  • Google is leveraging AI to optimize YouTube ads, particularly on connected TVs, which are gaining traction over traditional linear TV.
  • India’s increasing adoption of CTV has led to a 3.6x increase in conversion rates for some ad campaigns.
  • YouTube Shorts, a popular format among younger users, has also shown success in influencing purchase decisions, with 72% of Indian respondents indicating that Shorts ads impact their buying behavior.
• Transformations in Google Search
  • AI Overviews, powered by Gemini, and Google Lens are enhancing the search experience by offering predictive and visually-driven search results.
  • The tools, which now handle nearly 20 billion queries per month, are helping businesses like Zepto reduce content creation time and improve return on investment (ROI).
• Growth in India’s Digital Economy
  • Google’s AI initiatives are contributing to the growth of India’s digital economy, with businesses using the tools to achieve cost efficiency and enhanced consumer engagement.

Monopolistic Practices Under Fire

While Google’s AI investments in India are gaining momentum, the company is facing intense legal scrutiny over its dominant position in the global digital advertising market.

• Antitrust Case: Google’s Control Over Ad Tech
  • On April 17, U.S. District Judge Leonie Brinkema ruled that Google illegally monopolized two markets within the ad tech sector.
  • The Department of Justice (DOJ) argued that Google’s acquisition of DoubleClick in 2008 and its subsequent integration into the Google Marketing Platform helped the company dominate the ad tech ecosystem.
  • Google’s ad stack is alleged to control 87% of the U.S. market, leading to inflated costs for advertisers and reduced revenue for publishers.
• Implications for Google’s Ad Business
  • The ruling could lead to a breakup of Google’s ad business, potentially forcing the company to divest its DoubleClick assets.
  • Google has stated its intention to appeal the ruling, arguing that publishers choose Google for its affordable, effective tools, and that the company’s market dominance stems from innovation, not anti-competitive practices.
• Another Antitrust Trial: Online Search Monopoly
  • In addition to the ad tech case, Google is currently facing another antitrust trial over its search monopoly, with the DOJ challenging its dominance through the Chrome browser.
  • The DOJ is also seeking to restrict Google’s use of AI products like AI Overviews in search results, which could significantly impact the company’s AI strategy.

Google’s Position: Innovation vs. Market Power

• Google’s Defense: Innovation in a Competitive Market
  • Google has defended its actions, arguing that it built the most effective ad system through innovation and not coercion.
  • The company contends that it operates in a highly competitive space, with increasing competition from Meta, Amazon, and TikTok, all of which are vying for digital advertising dollars.
• Legal and Strategic Tensions
  • Despite facing legal challenges in the U.S., Google’s AI-driven innovations are flourishing in India, where businesses are eager to adopt new tools for growth and efficiency.
  • However, the company’s legal battles at home may force it to reconsider its global strategy, especially if U.S. regulators take action against its market dominance.

TH

3. ISRO Conducts Successful Semi-cryogenic Engine Hot Test

Context:

The Indian Space Research Organisation (ISRO) successfully carried out a short-duration hot test of its semicryogenic engine at the ISRO Propulsion Complex (IPRC) in Mahendragiri. This significant milestone follows the first successful hot test conducted on March 28, marking a major advancement in ISRO’s semicryogenic engine program.

Test Details:

• Test Duration: 3.5 seconds
• Test Focus: Engine Power Head Test Article (excluding thrust chamber)
• Key Outcomes:
  • Engine ignited and operated at 60% of its rated power.
  • Stable and controlled performance during the test.
  • Validation of engine start-up sequence.

Semi-cryogenic Engine

A semi-cryogenic engine is a liquid rocket engine that uses liquid oxygen (LOX) as an oxidizer and refined kerosene as fuel. Unlike fully cryogenic engines which use liquid hydrogen and liquid oxygen, semi-cryogenic engines offer advantages in terms of storage, handling, and cost-effectiveness due to the use of kerosene, which is lighter, more easily storable, and less expensive than liquid hydrogen. 

Purpose and Future Plans

• These tests are part of a series aimed at validating the design integrity and performance of key subsystems, including:
  • Low-pressure and high-pressure turbo pumps
  • Pre-burner and control systems
• The results are crucial for finalizing the operational sequencing of the full semicryogenic engine.
• Further qualification tests are planned to comprehensively validate the engine system, ultimately preparing it for use in ISRO’s launch vehicles.

NASA-ISRO Synthetic Aperture Radar (NISAR) Satellite Launch Preparations

• Launch Vehicle: GSLV-F16
• Current Status: Launch campaign activities for the NISAR satellite have commenced at the Sriharikota launch site.
• Stage Flag-Off: On March 24, 2025, the Second Stage (GS2) of the GSLV vehicle was flagged off from the IPRC, Mahendragiri, to the launch complex at Sriharikota.
  • The event was attended by V. Narayanan, Secretary, Department of Space, and Chairman, ISRO, along with directors from IPRC and Vikram Sarabhai Space Centre (VSSC).
  • The GS2 liquid stage is designated for the upcoming GSLV-F16 mission to launch the NISAR satellite.

TH

4. Sarvam AI

Context:

Bengaluru-based Sarvam AI will be the first startup to receive official government support for developing an indigenous large language model (LLM), Union IT Minister Ashwini Vaishnaw announced. The announcement was made during the launch of the Electronics Component Manufacturing Scheme (ECMS) guidelines.

Large Language Model (LLM)

A Large Language Model (LLM) is a type of artificial intelligence (AI) program trained on vast amounts of text data to understand and generate human-like text. They are capable of tasks like language translation, text summarization, and answering questions based on their knowledge.

Support Under IndiaAI Mission

• Sarvam AI, founded in mid-2023, will gain access to a high-powered cluster of GPUs (Graphics Processing Units) essential for training large AI models.
• The startup will have access to 400 GPUs out of the 14,000 GPUs acquired under the IndiaAI Mission, for a six-month period.

About Sarvam AI’s LLM

• The model will be:
  • Fluent in Indian languages
  • Designed for voice-first interfaces
  • Capable of complex reasoning
  • Built for secure, population-scale deployment

Government Initiatives for AI Development:

• AI Kosh, a government portal, now hosts over 350 datasets aimed at supporting AI developers with structured, India-specific data.
• Tools and technologies for the India AI Safety Institute are nearing completion, according to the IT Minister.

Significance:

• Sarvam AI’s project marks a major step towards building sovereign AI capabilities focused on Indian languages and local needs.
• This move reflects the government’s broader push to promote self-reliance in critical AI technologies and create a secure, scalable AI ecosystem for India.

TET

Banking/Finance

1. RBI Imposes Penalties on Indian Bank and Indian Overseas Bank

Context:

The Reserve Bank of India (RBI) has imposed a monetary penalty of over ₹1.61 crore on Indian Bank and ₹63.60 lakh on Indian Overseas Bank (IOB) for non-compliance with its regulatory directions.

Details of Non-Compliance

• Indian Bank:
  • Failed to transfer eligible amounts to the Depositor Education and Awareness Fund (DEAF) within the stipulated timeframe.
  • Non-compliance with RBI norms related to:
    • Interest rate on advances
    • Kisan Credit Card (KCC) Scheme
    • Lending to the Micro, Small and Medium Enterprises (MSME) sector
• Indian Overseas Bank (IOB):
  • Specific reasons for the penalty were not detailed, but it pertains to breaches of certain regulatory requirements.

Bank’s Response:

• Indian Bank, in a regulatory filing, stated that it has implemented corrective actions to prevent recurrence of such lapses.

Significance:

• The penalties underscore the RBI’s focus on ensuring strict regulatory compliance across the banking sector, especially in areas impacting customer rights and priority sector lending.

TH

2. UPI Outages in March-April 2025

How Does UPI Work?

• UPI (Unified Payments Interface) is built on the Immediate Payment Service (IMPS) architecture.
• To use UPI, banks must join the system and link user accounts to mobile numbers through apps like GPay and PhonePe.
• UPI is designed as an interoperable platform, where any bank’s account holder can transact on any app.
• Despite appearing peer-to-peer, every transaction passes through the NPCI (National Payments Corporation of India), which acts as a centralized, critical intermediary by encrypting PINs and managing payment flow.

Why Did UPI Face Outages?

• NPCI experienced downtimes because individual banks flooded the system with “check transaction” requests to verify payment status.
• Since NPCI is a single point of failure, any overload disrupts the entire UPI network.
• Even lightweight options like UPI Lite — allowing PIN-less transactions up to ₹2,000 — still route through NPCI systems, meaning they are also vulnerable to NPCI issues.

Structure of NPCI and Its Impact:

• NPCI is a consortium owned largely by public sector banks due to the Payment and Settlement Systems Act, 2007.
• Banks manage much of the implementation, and NPCI oversees the UPI system’s design and coordination.

Why Are Banks Discontent with UPI?

• UPI has revolutionized digital payments (e.g., 58 crore transactions worth ₹73,000 crore on a single day recently).
• Banks incur about ₹0.80 per transaction (e.g., SMS costs, record maintenance) but cannot charge Merchant Discount Rates (MDR), making UPI financially unrewarding.
• Frequent outages occur at individual banks due to lower incentives and lack of stringent uptime commitments compared to private card networks like Visa and MasterCard.
• The Ministry of Electronics and IT has launched an annual UPI incentive programme that rewards high-performing banks and penalizes poor performers by withholding subsidies.

What is MDR (Merchant Discount Rate)?

• MDR is a fee paid by merchants to banks for processing digital transactions in real time.
• Currently, UPI and RuPay debit card transactions have zero MDR, meaning merchants do not pay any charges.
• The cost of maintaining the UPI infrastructure is currently borne by banks and the government.

TH

3. REITs and InVITs

What are REITs?

Real Estate Investment Trusts (REITs) are investment vehicles that pool money from multiple investors to invest in real estate, much like how mutual funds pool funds to invest in stocks. Rather than directly owning properties, investors in REITs become shareholders in a portfolio of real estate assets.

• Income Generation: REITs generate income primarily from rent payments and capital gains from property sales.
• Dividend Distribution: Investors receive profits in the form of dividends, proportional to the units they hold.

What are InVITs?

Infrastructure Investment Trusts (InVITs) offer a similar investment approach but focus on the infrastructure sector. Through InVITs, retail investors can now invest in large-scale infrastructure projects such as toll plazas, highways, power grids, and renewable energy projects.

• Income Generation: Investors earn dividends from the steady cash flow of infrastructure projects.
• Capital Appreciation: As the country’s economy grows, the value of these infrastructure assets tends to appreciate, benefiting long-term investors.

Regulation and Benefits of REITs and InVITs

• Regulated by SEBI: Both REITs and InVITs are governed by the Securities and Exchange Board of India (SEBI), ensuring transparency and investor protection.
• Diversification and Liquidity: REITs and InVITs provide exposure to diversified real estate and infrastructure portfolios. If listed, they offer liquidity like stocks, allowing easy buying and selling.
• No Hassles of Ownership: Investors avoid property management tasks, such as finding tenants or maintaining the property. Additionally, there are no property registration or documentation hassles.
• Low Investment Threshold: REITs and InVITs are affordable, and you can invest in as little as a single unit.

Risks to Consider

• Market Volatility: Like stocks, REITs and InVITs are subject to market fluctuations and changes in interest rates.
• Regulatory and Economic Risks: Changes in regulations or economic conditions could affect their performance.
• Investment Horizon: These are long-term investments, ideally with a horizon of five years or more. Investors with a shorter timeframe may consider other assets.
• Liquidity Risk (for Unlisted): Non-listed REITs and InVITs carry liquidity risks, as they are not traded on exchanges.

How to Invest in REITs and InVITs

• Listed REITs and InVITs: You can buy these like stocks through your broker or demat account.
  • Prominent Listed REITs:
    • Embassy Office Parks
    • Mindspace Business Parks
    • Brookfield India Real Estate Trust
    • Nexus Select Trust
  • Prominent Listed InVITs:
    • PowerGrid Infrastructure Investment Trust (PGInVIT)
    • IRB InvIT
    • India Grid Trust
    • National Highways Infra Trust
    • IRB Infrastructure Trust
    • Sustainable Energy Infra Trust
    • Energy Infrastructure Trust
• Unlisted REITs and InVITs: These are typically offered to high-net-worth individuals (HNIs) or institutional investors via private placements. These investments have high minimum investment requirements and come with liquidity and transparency risks.

TH

4. RBI Governor’s Speech on India’s Economic Outlook

Context:

RBI Governor Sanjay Malhotra addressed the key economic aspects of India’s banking sector and broader financial landscape during his speech at an event organized by the Confederation of Indian Industry (CII) and the US-India Strategic Partnership Forum.

Key Points from RBI Governor’s Address

• Banking Sector Resilience:
  • Healthy Balance Sheets and Liquidity Buffers: Malhotra highlighted that the Indian banking sector remains robust with adequate capital and liquidity buffers, enabling it to meet the investment needs of society and industry.
  • Positive Credit Growth: Despite a slight moderation in recent months, bank credit growth continues at a double-digit rate of about 12%, surpassing the 10.5% average over the last decade.
  • Non-Performing Assets (NPAs): The banking sector has seen a decline in NPAs, which has contributed to stronger profitability and overall soundness of scheduled commercial banks (SCBs).
• Economic Outlook:
  • Monetary Policy Stance: With a moderate growth outlook and benign inflation, the RBI has adopted an accommodative monetary policy. The policy rate was reduced by 50 basis points cumulatively in 2025.
  • Geopolitical Resilience: India’s economy has shown resilience to external shocks, particularly those arising from US tariff policies. The country’s relatively lower dependence on exports and strong domestic demand cushion it from global uncertainties.
  • Growth Forecast: Domestic economic growth for the current financial year is projected at 6.5%, slightly below previous years, but still the highest among major economies.
• External Sector Stability:
  • Manageable Current Account Deficit (CAD): The current account deficit, at 1.3% of GDP, remains within manageable limits, supported by strong services exports and private remittances.
  • Rupee Stability: The rupee has maintained a relatively orderly movement despite recent volatility, bolstered by strong macroeconomic fundamentals and ample foreign exchange reserves.
  • Foreign Direct Investment (FDI): FDI inflows to India increased to $75.1 billion in the 2024-25 period, reflecting continued investor confidence despite a moderation in inflows due to higher repatriations.
• Fiscal and Government Policy:
  • Fiscal Consolidation Efforts: Malhotra praised the Indian government’s commitment to fiscal consolidation while focusing on growth-inducing spending. The share of central government’s capital expenditure as a percentage of GDP surged from 1.7% in 2019-20 to 3.1% in 2024-25.
  • Improved Quality of Government Spending: The focus on better-targeted government spending has enhanced the overall quality of expenditure, contributing to stronger economic fundamentals.
• India’s Growth Trajectory:
  • Historical Growth Trends: Over the last four years (2021-2025), India’s GDP has grown at an average annual rate of 8.2%, marking a significant increase from the average growth of 6.6% in the previous decade.
  • Global Economic Standing: India remains the fastest-growing major economy globally, positioning itself for sustained economic progress in the coming years.
• Commitment to Economic Reforms:
  • Malhotra emphasized that economic liberalization and market-oriented policies have remained a consistent theme across successive Indian governments, regardless of political affiliations. This has fostered an environment conducive to reforms and economic liberalization over the years.

Governor Sanjay Malhotra’s speech reflects India’s economic resilience, stable growth prospects, and the continued robustness of its banking and financial systems. The emphasis on fiscal discipline, government spending on infrastructure, and ongoing reforms showcases India’s commitment to long-term economic stability and growth. The positive outlook on banking credit growth, FDI, and fiscal consolidation positions India as an attractive destination for both domestic and foreign investments.

BS

5. Union Finance Ministry’s Plan for a Unified Portal for Government-Sponsored Schemes (GSS)

Context:

The Union Finance Ministry is working on a one-stop digital platform aimed at streamlining the management of government-sponsored schemes (GSS) in areas such as loan sanctioning, disbursement, interest subsidies, and claims processing. This initiative is expected to enhance efficiency, reduce redundancy, and improve convenience for bank functionaries involved in the implementation of these schemes.

Key Objectives and Benefits:

• Streamlining Digital Infrastructure:
  • The new portal will unify various fragmented portals currently used by banks to process government schemes, significantly reducing the administrative burden on banking personnel.
  • It will simplify the process for banks, eliminating the need for them to deal with multiple digital platforms for loan disbursements and interest subsidies.
• Improved Efficiency and Transparency:
  • By integrating data and processes into a single system, the portal will allow for real-time tracking of applications, enhancing transparency and accountability.
  • It is expected to minimize delays in subsidy release, avoid errors and duplication, and improve service delivery speed.
• Addressing Banking Sector Concerns:
  • Banks have been facing challenges due to the sheer volume of portals and compliance requirements for schemes administered by various government ministries.
  • Currently, banks must input data for different loan sanctions and subsidies across several platforms, such as the Khadi and Village Industries Commission (KVIC) portal for PMEGP loans, the Udyami Mitra portal for PM SVANidhi, and the PAiSA portal for interest subsidy claims.
• Unified Platform Features:
  • The platform will reduce data entry points, promoting better interoperability across departments.
  • It will allow for seamless integration between various ministries and banks, offering a centralized solution to simplify the administration of schemes.

Government’s Efforts and Banking Sector Feedback

• Focus on Financial Inclusion:
  • The Ministry of Finance is committed to enhancing the capacity of the banking sector, especially in underserved and remote areas like the Northeast.
  • The government is pushing to expand banking infrastructure and improve connectivity in unbanked villages, further promoting financial inclusion and social security schemes.
• Review Meetings and Progress:
  • In January 2025, a review meeting with public sector banks (PSBs) and private sector bank executives discussed the progress of financial inclusion schemes such as PMJDY, PMJJBY, and StandUp India.
  • The Finance Ministry also held another review session in April 2025 to assess the implementation of various government-run schemes.

BS

6. IndusInd Bank’s Accounting Discrepancies in Derivatives Portfolio

Context:

IndusInd Bank has revealed that incorrect accounting of internal derivatives trades, particularly in cases of early terminations, led to notional profits and subsequent accounting discrepancies. This issue was identified in a report from the independent professional firm Grant Thornton, which was appointed by the bank’s board to investigate the root cause of the discrepancies in its derivatives portfolio.

Key Findings and Actions

• Grant Thornton Report:
  • The report found that the accounting discrepancies, which resulted in notional profits, have caused an adverse accounting impact on the bank’s profit and loss account.
  • The cumulative adverse impact on the bank’s profit and loss account as of March 31, 2025, is estimated to be ₹1,959.98 crore.
  • The discrepancies primarily relate to internal derivatives trades, which were incorrectly accounted for during early terminations.
• Internal Review and PwC Report:
  • Earlier, on April 15, 2025, the bank disclosed a report from PwC, which was engaged to validate its internal review findings.
  • PwC’s assessment estimated a negative impact of ₹1,979 crore on the derivatives portfolio as of June 30, 2024. This was seen as slightly higher than the bank’s internal review, which estimated an impact of ₹1,580 crore.
  • PwC’s report indicated that the discrepancies would result in a post-tax negative impact of 2.27% on the bank’s net worth as of December 2024. The net worth of the bank at the end of the December quarter was ₹65,102 crore.
• Board’s Response and Corrective Measures:
  • IndusInd Bank’s board is taking steps to assign accountability for the discrepancies, realign roles, and adjust the responsibilities of senior management.
  • The bank has already discontinued internal derivatives trades from April 1, 2024, to prevent further discrepancies.
  • The bank plans to appropriately reflect the resultant accounting impact in its financial statements for FY 2024-25.

Impact on Financials

• The accounting discrepancies identified in both the internal review and PwC report have a marginally lower impact on the bank’s net worth compared to earlier estimates.
• According to Grant Thornton, the adverse impact of ₹1,959.98 crore is significant but manageable. Brokerages viewed the lower-than-expected impact positively, as the discrepancies were somewhat smaller than initially feared.

IndusInd Bank is working to address the discrepancies in its derivatives portfolio and has already taken corrective actions, such as halting internal derivatives trades. With a clear plan to rectify the accounting errors and strengthen internal controls, the bank aims to mitigate the financial impact, which is reflected in its financial statements for FY 2024-25.

BS

7. Sebi’s Shift to a Paperless Future

Context:

The Securities and Exchange Board of India (Sebi) is set to modernize its operations with the adoption of a fully digital ‘e-office’ system, marking a significant move towards efficiency and streamlining its internal processes.

Key Highlights

• Current Scenario: Visitors to Sebi’s headquarters in Bandra Kurla Complex may have seen ‘trolleys of paper’ shuttling between departments. This paper trail is soon to become a thing of the past, as Sebi transitions to a digital framework.
• Objective: The move aims to eliminate physical document transport, ensuring faster communication and smoother sharing of information across departments. The digital shift will likely expedite internal processes, resulting in overall operational efficiency.
• Leadership Vision: Sebi Chairman Tuhin Kanta Pandey, who took charge in March 2025, is focused on leveraging technological advancements. This digital shift is part of a broader plan to improve operational workflows, continuing the legacy of his predecessor who introduced artificial intelligence (AI) for more efficient processing and screening of IPO applications.

Impact

This transition is expected to not only make Sebi’s operations more streamlined but also set an example for other regulatory bodies and organizations to follow in embracing technology for digital transformation.

BS

8. Health Insurance Fraud in India

Context:

India’s health insurance industry is grappling with significant fraud that is draining resources, costing the industry an estimated ₹12,000 crore annually. This not only impacts insurers but also inflates premiums for honest policyholders. Tackling fraud, alongside addressing broader systemic issues, is critical for the industry’s growth and for achieving the vision of “Insurance for All” by 2047.

Key Issues Contributing to Health Insurance Fraud

• Fabricated Claims: Instances of false claims are widespread. Examples include hospitals submitting fake medical documents, inflating treatment costs, and even inventing nonexistent patients. These fraudulent activities result in rejected claims, blacklisting of hospitals, and police involvement.
• Hospital Overbilling: Practices like upcoding, unbundling services, and phantom billing are rampant. These tactics allow hospitals to overcharge insurers, leading to increased premiums for policyholders.
• Regulatory Gaps: India’s healthcare sector operates under a state-central law mix, leading to wide variations in standards and lack of oversight. This creates an environment conducive to fraud, particularly as diagnostic centers and hospitals often lack centralized regulation.

Economic Impact

• Claims Rejection and Insurance Penetration: An estimated 10% of all claims involve some element of fraud, which directly contributes to rising claims rejection rates and higher insurance premiums.
• Insurance Growth: While the Indian insurance market is growing, health insurance penetration remains low at just 1% of GDP, compared to global leaders like the US (9.3%) and Netherlands (7.2%). This is exacerbated by the rising cost of premiums due to fraud.

Proposed Solutions

• Regulator for Health Insurance: Drawing inspiration from the Real Estate Regulatory Authority (RERA), a dedicated healthcare regulator could set standardized pricing and treatment protocols across hospitals, curbing fraudulent practices.
• Stronger Oversight: There is a need for centralized oversight on hospitals and diagnostic centers to ensure quality and pricing standards, which would ultimately help reduce fraud. While existing bodies like ombudsman offices provide some oversight, a specialized regulator could address the specific challenges of the healthcare sector.
• Cross-Sector Collaboration: Collaboration between government agencies, insurers, healthcare providers, and the public is essential to improve transparency and reduce fraud. Addressing the issue from all angles would improve trust in the system, ultimately driving higher insurance penetration.

Global Insights for Reform

• Global Models: Countries like Germany, Japan, and Singapore have successfully implemented hybrid or national insurance models, combining public and private insurance systems to offer comprehensive coverage. These models could serve as a reference point for India as it works to improve health insurance accessibility.
• Technological Solutions: Utilizing AI and data analytics could help insurers detect fraudulent patterns early, ensuring more accurate claim processing.

BS

9. RBI Cancels Licence of Imperial Urban Co-operative Bank

Context:

The Reserve Bank of India (RBI) has cancelled the licence of Imperial Urban Co-operative Bank, based in Jalandhar, due to its insufficient capital and lack of adequate earning potential. This action aims to protect the interests of depositors and ensure financial stability in the region.

Reasons for Licence Cancellation

• Insufficient Capital & Financial Viability: The bank’s current financial situation prevents it from meeting its obligations to depositors.
• Public Interest: The RBI stated that allowing the bank to continue operating would be detrimental to public interest, as it would be unable to pay back its depositors in full.

Steps Taken for Winding Up

• The Registrar of Cooperative Societies, Government of Punjab, has been instructed to initiate the winding-up process of the bank, including the appointment of a liquidator.
• Immediate Restrictions: The bank has been prohibited from conducting any banking activities, including accepting deposits and repaying deposits.

Protection for Depositors

• DICGC Coverage: The Deposit Insurance and Credit Guarantee Corporation (DICGC) will provide depositors with insurance coverage of up to Rs 5 lakh.
• Deposit Payouts: As of January 31, 2025, DICGC has already paid Rs 5.41 crore of the insured deposits to the affected depositors.
• Depositor Relief: According to RBI data, 97.79% of the bank’s depositors are eligible for full reimbursement of their insured deposits.

Impact on Deposit Holders

• Large Number of Affected Depositors: The closure of the bank affects a substantial number of depositors, but the insurance system ensures that the majority will receive their entitled claims.
• Financial Security: The DICGC’s intervention provides a safety net for depositors, mitigating the risk of financial loss due to the bank’s closure.

The cancellation of the Imperial Urban Co-operative Bank’s licence underscores the RBI’s commitment to maintaining financial integrity and protecting the public interest. While this decision impacts the bank’s depositors, the insurance mechanism ensures that the majority will receive their entitled payouts, reinforcing the stability of India’s banking system.

BS

10. Amazon’s Rs 350 Crore Investment in Amazon Pay India

Context:

Amazon has injected Rs 350 crore into its payments arm, Amazon Pay India, marking its third significant investment into the company in less than a year. This move underscores Amazon’s continued push to strengthen its position in India’s competitive Unified Payments Interface (UPI) market.

Key Details

• Equity Shares Issuance: Amazon Pay issued 3.5 crore equity shares to its parent entities, Amazon Corporate Holdings Pvt Ltd and Amazon.com Inc, through a rights issue.
• Previous Investments: This follows Rs 600 crore in June 2024 and Rs 300 crore in November 2024, showcasing a consistent effort to consolidate Amazon Pay’s position in the digital payments space.

Competitive Landscape of the UPI Market

• Market Leaders: According to NPCI data, PhonePe and Google Pay dominate the UPI space with a combined market share of nearly 85%.
• Amazon Pay’s Market Share: Despite its significant investment, Amazon Pay holds only about 0.6% of the market, highlighting the challenges new entrants face in breaking established user habits and platform loyalty.
• Rising Competition: Flipkart-backed Super.money is also ramping up its fintech offerings, planning to raise capital, further intensifying competition in the sector.

Amazon Pay’s Regulatory Progress

• In February 2024, Amazon Pay secured a payment aggregator (PA) licence from the Reserve Bank of India (RBI), enabling it to handle merchant transactions more effectively.
• Additionally, it received approval for a prepaid payment instrument (PPI), which broadens its scope for offering a wider array of financial services.

11. GIST: Valedictory Address on Green and Sustainable Finance (RBI)

Introduction

• Emphasized the importance of green and sustainable finance, aligning regulatory and policy frameworks, and integrating climate change into financial risk assessments.
• Acknowledged the key discussions on opportunities, challenges, and ecosystem development for sustainable finance.

Key Building Blocks for a Robust Green Finance Ecosystem

1. National Green Finance Taxonomy
   • Crucial for uniform understanding and alignment across regulators, government, financial institutions, and borrowers.
   • RBI currently uses the Sovereign Green Bonds (SGrB) framework; a formal national taxonomy is under development.
2. Consistent and Harmonized Regulatory Approach
   • Need for sector-agnostic, collaborative action to achieve India’s 2070 Net-Zero target.
   • Regulators must align policies and risk assessments.
3. Robust Assurance and Verification
   • Strong mechanisms to ensure transparency in the end-use of funds.
   • Call for standardization in assurance services to minimize greenwashing risks.
4. Transparency and Climate-related Disclosures
   • RBI’s draft “Disclosure Framework on Climate-related Financial Risks” mandates qualitative and quantitative disclosures on governance, strategy, risk management, and metrics.

Challenges in Climate Risk Assessment

• Complex climate modeling requires both scientific and financial expertise.
• Data gaps are significant; collaboration among scientists and financial experts is essential.

RBI Initiatives

• Reserve Bank – Climate Risk Information System (RB-CRIS) launched to bridge data gaps related to physical risks, transition risks, and carbon emission benchmarks.

Climate Change and Credit Risks

• Climate change amplifies credit risks through higher operational costs, asset losses, and borrower defaults.
• Green technologies carry higher inherent financial risks, demanding a delicate balance between credit flow and financial stability.

Challenges in Green and Sustainable Financing

• Structural Challenges: High upfront capex, high project risks, asset-liability mismatches, technical skill gaps.
• Financing Challenges: Dependence on global capital, requiring robust domestic enablers and de-risking mechanisms.

Augmenting Green and Sustainable Finance

• Promoted blended finance models combining public and private investments.
• Need for tools like guarantees, sustainability-linked loans, and climate-resilient bonds.
• DFIs, MDBs, and NDBs must play a bigger role; reforms in multilateral funding frameworks needed.

Role of Technology and Innovation

• Inclusion of sustainable finance and climate risk mitigation in RBI’s “On Tap” Regulatory Sandbox to encourage technological solutions.

Way Forward

• Interoperability must be pursued carefully in Emerging Markets and Developing Economies (EMDEs), considering socio-economic impacts.
• Capacity building in financial institutions is crucial.
• India has a unique opportunity to lead in global green transition while managing economic development and climate vulnerabilities.

Conclusion

• A collaborative, skilled, and sensitive approach is essential for overcoming the complex challenges of climate change.
• RBI reiterates its commitment to fostering sustainable finance ecosystems through regulatory innovation, capacity building, and international cooperation.

Source: RBI Circular

Agriculture

1. The Importance of Agriculture Insurance in India

Context:

Agriculture has long been the backbone of India’s economy, with a majority of the population depending on it for sustenance. Despite its crucial role, farming remains an unpredictable and challenging occupation due to weather anomalies, crop diseases, pests, and fluctuating market prices. In this landscape, agriculture insurance offers a much-needed safety net, helping farmers recover losses and return to their work with renewed hope.

The Rising Need for Protection

Impact of Climate Change:

• Climate change has exacerbated the vulnerability of Indian agriculture. Monsoon patterns are increasingly erratic, and extreme weather events like floods, droughts, and cyclones are on the rise.
• These unpredictable conditions severely affect crops, particularly small and marginal farmers. Agriculture insurance serves as a vital tool in mitigating these risks by covering losses, providing access to credit, and helping farmers manage uncertainty.

The Government’s Role:

• The Pradhan Mantri Fasal Bima Yojana (PMFBY), launched by the Indian government, provides extensive coverage against crop failure, with subsidized premiums making it affordable for even the poorest farmers.
• The scheme incorporates modern technologies like satellite imagery and drones, enabling quick damage assessment and faster claim settlements.
• However, challenges remain, including lack of awareness among farmers, complex procedures, and delays in claim payouts. These issues must be addressed for agriculture insurance to become a reliable tool.

Improving the Agriculture Insurance System

Leveraging Technology for Smarter Coverage:

• Technologies like AI, remote sensing, and satellite imagery can provide insurers with better data to assess crop health, predict risks, and verify claims more accurately.
• Tools like local weather stations and mobile reporting apps can enhance communication and improve the accuracy of assessments.

Customizing Policies:

• India’s agricultural diversity calls for tailored insurance policies that reflect regional climates, crop types, and local risks. Policies should be simple to understand, easy to enroll in, and relevant to the specific crops grown in different regions.

Extending Awareness:

• Many farmers miss out on insurance due to lack of awareness or distrust in the system. Awareness campaigns, particularly at the village level, are essential to inform farmers about the benefits and procedures of insurance.
• Financial education should be promoted to empower farmers, helping them make well-informed decisions.

Faster and Fairer Claims:

• Delays in claims settlement are a significant issue. A transparent and digital claims process, with features like real-time claim tracking and SMS updates, can increase trust and speed up settlements.
• Faster payouts allow farmers to recover quickly and resume their agricultural activities without significant financial setbacks.

Inclusive Insurance:

• Agriculture insurance shouldn’t be limited to crops alone. Livestock insurance is equally important, as livestock plays a critical role in rural livelihoods.
• Micro-insurance products with small premiums can benefit the most vulnerable farmers and offer financial protection for their livestock.

Addressing the Climate Challenge

• Climate change is making it harder for old insurance models to keep pace with increasingly volatile weather conditions.
• Weather-index based insurance is a promising solution, providing payouts based on predetermined rainfall or temperature thresholds. It’s quicker and less complicated, but its success depends on accurate local data and farmer trust.

Government Collaboration for Effective Implementation

• Central and state governments must work together to ensure effective implementation of insurance schemes. While the Centre handles policy and funding, states are responsible for local rollouts, awareness, and ensuring smooth claim processing.
• Seamless coordination and a transparent subsidy framework are essential to achieving the goals of agriculture insurance.

A Bright Future for Agri-Insurance

The Indian agriculture insurance sector is on the cusp of a transformative shift. Climate risks, increasing awareness, technological advancements, and proactive policies are aligning to create a momentum for change. Private insurers are also stepping up with region-specific and crop-focused innovations.

BL

2. Cane Excellence Programme

Context:

In a significant move to enhance the sugarcane ecosystem in Uttar Pradesh, the Indian Sugarcane Research Institute (ICAR-ISRI), Lucknow, and Zuari Industries Pvt Ltd (ZIL) have signed a Memorandum of Understanding (MoU) to establish the Cane Excellence Programme at Gobind Sugar Mills, Aira, Lakhimpur. This partnership aims to elevate sugarcane productivity, sustainability, farmer engagement, and integrate cutting-edge research and development for long-term growth.

Key Highlights of the Collaboration

• Technical and R&D Support from ICAR-ISRI:
  • ICAR-ISRI’s Role: The institute will provide expertise on best agronomic practices, offer R&D support to evaluate existing sugarcane varieties, and assist in developing new, high-yielding strains. Experts from the institute will be involved in training, joint activities, and monitoring of the programme.
  • Research and Adoption: ICAR-ISRI will facilitate location-specific adoption of research findings and offer consultancy services on mutually agreed terms.
• Farmer Empowerment and Knowledge Dissemination:
  • Capacity Building: The programme includes exposure visits, cross-learning platforms, and the dissemination of technical manuals, videos, and mobile advisories to farmers.
  • Digital Integration: ICAR-ISRI will help integrate digital advisory systems and decision-support tools to enhance the effectiveness of the programme in improving farmer decision-making.
• Sustainability and Climate Resilience:
  • The focus is not just on productivity but also on creating a climate-resilient and sustainable sugarcane farming model. The collaboration aims to promote climate-smart agriculture practices tailored to local conditions, thus ensuring long-term viability for farmers.

Future Prospects

The Cane Excellence Programme is expected to serve as a model for integrating industry and research institution collaboration, providing farmers with the tools and knowledge to improve both the productivity and sustainability of their operations. Through this partnership, the focus is on innovative practices that address current challenges in sugarcane cultivation while preparing the industry for future demands.

BL

Facts To Remember

1. PM virtually distributes over 51,000 appointment letters in Rozgar Mela

Prime Minister Narendra Modi on Saturday virtually distributed more than 51,000 appointment letters to new recruits in various Central government departments, as part of the ongoing Rozgar Mela initiative.

2. India guaranteed 43 medals at Asian junior boxing c’ships

Four more pugilists qualified for the semifinals as India is guaranteed 43 medals in the inaugural Asian under-15 & 17 boxing in Amman. India is assured of 25 medals in the under-15 category while another 18 are set to be won in the under-17 section, since all semifinalists get bronze medals.

3. Shambhavi Kshirsagar dominates air rifle event

Shambhavi Kshirsagar (in pic, centre) won two gold and a silver in the air rifle individual events in the 23rd Kumar Surendra Singh shooting championship at the Dr. Karni Singh Range.

4. India signs deal with France to procure 26 Rafale Marine fighter aircrafts

India today signed a defence deal with France to procure 26 Rafale Marine fighter aircrafts. The Inter-Governmental Agreement (IGA) was signed by Defence Minister Rajnath Singh and Minister of Armed Forces of France Sebastien Lecornu in New Delhi.

5. Bangladesh urges peaceful dialogue between India, Pakistan over Kashmir

Bangladesh says it supports a peaceful resolution to the India-Pakistan tensions over Kashmir, calling for dialogue and diplomacy to ensure the South Asia region.

6. Union Minister Hardeep Singh Puri & Delhi CM launch Ayushman Vay Vandana Cards

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri, along with Delhi Chief Minister Rekha Gupta, launched the Ayushman Vay Vandana Cards for Delhiites in New Delhi today. 

7. India dominates Asian Yogasana Sport Championship with record 83 gold medals

India delivered a dominant performance at the Asian Yogasana Sport Championship, securing a record 83 gold medals to top the medal tally at the event in Delhi yesterday.