Daily Current Affairs

NPAs under PMMY for Scheduled Commercial Banks (SCBs) reached 9.81% of outstanding loans as of March 2025, a sharp increase from 5.47% in March 2018.

However, when measured against the total loan amount disbursed, the NPA ratio was 2.19% in March 2025, which is actually lower than 2.71% in March 2018.

Finance Minister Nirmala Sitharaman shared these details in a written reply in the Rajya Sabha.

Chief Minister Mamata Banerjee unveiled a new rehabilitation initiative titled ‘Sramashree’ aimed at supporting migrant workers who faced harassment in BJP-ruled states.

The program ensures financial assistance of ₹5,000 per month for up to 12 months, or until these workers are re-employed in West Bengal.

The Union Cabinet sanctioned the development of a Greenfield Airport at Kota-Bundi in Rajasthan, with a project cost of ₹1,507 crore.

Kota, known as the industrial hub of Rajasthan and India’s education coaching capital, is expected to see significant traffic growth.

The Indian Institutes of Management (Amendment) Bill, 2025 was passed in the Lok Sabha, paving the way for a new IIM in Guwahati, Assam.

Union Education Minister Dharmendra Pradhan announced a grant of ₹550 crore for the institute, fulfilling a long-standing demand from the North-East.

The bill passed without discussion owing to opposition protests over the SIR issue.

Commerce and Industry Minister Piyush Goyal introduced the Jan Vishwas (Amendment of Provisions) Bill, 2025.

The Bill, previously cleared by the Union Cabinet and examined by a Select Committee, expands on the Jan Vishwas Act, 2023, which had decriminalized 183 provisions across 42 Central Acts from 19 Ministries/Departments.

The Cabinet approved the Promotion and Regulation of Online Gaming Bill, 2025, soon to be introduced in the Lok Sabha.

The legislation promotes e-Sports, social, and educational games, while prohibiting online money-based games in the interest of public safety.

After Lok Sabha clearance, the Rajya Sabha also passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2025.

The bill emphasizes sustainable mining, zero-waste practices, and advancing the National Critical Mineral Mission.

Union Coal & Mines Minister G. Kishan Reddy stressed the government’s commitment to transparency and modern mining technologies.

Credit rating agency ICRA estimates India’s GDP growth for April–June 2025 (Q1 FY25) at 6.7%.

This figure is slightly higher than the RBI’s forecast of 6.5% for the same quarter.

The growth is attributed to increased government expenditure and a rise in exports.

In the preceding quarter (Jan–Mar 2025), the economy had grown by 7.4% as per NSO data.

The Export-Import Bank of India (Exim Bank) signed a $40 million commercial credit line deal with the ECOWAS Bank for Investment and Development (EBID).

This initiative is designed to expand business opportunities for Indian enterprises in Africa and strengthen bilateral trade ties.

Exim Bank plays a central role in financing India’s international trade and investments and often partners with African institutions to foster cooperation.

According to Knight Frank, India’s Infrastructure Investment Trust (InvIT) market is expected to grow 3.5 times from $73 billion in FY2025 to $258 billion by 2030.

The surge is driven by institutional investors, pension/insurance funds, foreign participation, and wider retail adoption.

Infrastructure spending rose from $12 billion in FY2015 to $75 billion in FY2025, fueling this rapid expansion.

Dubai announced the ‘One Freezone Passport’, a single business license that permits companies to operate across all free zones in Dubai.

This eliminates the need for multiple permits, thereby cutting costs and streamlining operations.

The reform aligns with the Dubai Economic Agenda D33, which targets doubling GDP by 2033.

The Indian government cleared a ₹62,000 crore procurement of 97 Tejas Mark 1A fighter aircraft for the Indian Air Force (IAF).

This acquisition significantly strengthens the indigenous defense manufacturing ecosystem under Make in India and Atmanirbhar Bharat.

The Tejas jets will replace the ageing MiG-21 fleet and incorporate advanced radar systems and avionics.

The Indian Space Research Organisation (ISRO) is working on a massive rocket, comparable to a 40-storey building, capable of carrying 75,000 kg payloads into low Earth orbit.

IIT Madras, in collaboration with FedEx, inaugurated the FedEx SMART Centre (Supply Chain Modelling, Algorithms, Research, and Technology Centre).

The facility is backed by a $5 million grant from FedEx.

Its focus will be on sustainable, technology-driven logistics innovations, strengthening both academic and industrial research in supply chain efficiency.

Manika Vishwakarma, hailing from Ganganagar, Rajasthan, won the title of Miss Universe India 2025 in Jaipur.

She was crowned by Riya Sinha, the outgoing Miss Universe India 2024.

Manika will now represent India at the 74th Miss Universe pageant 2025 in Thailand.

The event, in its second edition, was organized by the Glamanand Group and K Sera Sera Box Office.