Current Affairs - March 18, 2025 Current Affairs

Dr. Lakshmi Venu has been appointed as the Vice Chairman of Tractors and Farm Equipment Limited (TAFE). With her vast experience in the farm mechanization and auto component sectors, she has been instrumental in various leadership roles, including serving as a Director at TAFE. Additionally, Dr. Lakshmi is the Managing Director of Sundaram-Clayton Ltd. Her appointment reflects TAFE's commitment to strengthening its leadership team and expanding its global presence. Dr. Lakshmi's academic and professional achievements further highlight her impact in the corporate and industrial sectors.

The Faya Palaeolandscape, located in Sharjah, has been nominated for UNESCO status. It provides evidence of human survival in extreme desert conditions for over 210,000 years. Excavations at the site have uncovered 18 phases of human occupation, stone tools, burial sites, and trade links with Mesopotamia and the Indus Valley, offering a unique insight into early human adaptation to desert life. Geological formations, water sources, and climate shifts were essential in sustaining these early human settlements and trade connections.

IKS Health was ranked as the leader in AI-driven Revenue Cycle Management (RCM) in the 2025 Black Book Research report. The company excelled in claims processing and denial prevention and was ranked No.1 among 20 vendors. IKS Health supports over 700 U.S. healthcare organizations with its AI-powered RCM solutions. The rankings were determined based on a survey of 1,037 RCM professionals working across hospitals, health systems, and medical groups.

In February 2025, India's Wholesale Price Index (WPI) inflation stood at 2.38%. This increase was driven by higher prices in food products, textiles, and manufacturing. Additionally, the WPI Food Index dropped, and food inflation declined from 7.47% to 5.94%. The Fuel & Power index rose by 2.12%, while Primary Articles decreased by 1.74%, and Manufactured Products saw a 0.42% increase month-over-month.

The "Frontier Seed" program was launched by the Asian Development Bank (ADB) to promote private sector growth and economic resilience in the Pacific region. The initiative focuses on strengthening local capital markets and supporting sustainable business ventures. ADB's initial commitment of $4 million, along with support from international partners, aims to foster economic growth, attract investment, and create jobs. This program aligns with ADB's broader mission to support sustainable infrastructure and regional development across its member countries.

The Telangana Government launched the 'Rajiv Yuva Vikasam' scheme with the goal of promoting self-employment and economic development. This initiative was launched by Chief Minister A. Revanth Reddy aims to empower unemployed youth, particularly from marginalized communities, by providing financial assistance for establishing their own businesses. The scheme is backed by a ₹6,000 crore budget and aims to benefit five lakh youth across the state. It includes a tiered subsidy structure, offering financial aid of up to ₹3 lakh, along with affordable loan options for youth entrepreneurs.

The BJP-led government in Chhattisgarh, under Chief Minister Vishnu Deo Sai, is working on introducing a more stringent anti-conversion law to prevent illegal religious conversions. While the state already has the Chhattisgarh Freedom of Religion Act, 1968, the new law aims to address issues such as conversions through coercion, inducements, or gatherings under the guise of “faith healing.” This move follows political discussions and allegations regarding foreign-funded NGOs involved in conversion activities. The new law is intended to enforce stricter legal actions against unlawful conversions in the state.

According to Morgan Stanley, India’s GDP is projected to reach $5.7 trillion by 2028, making it the third-largest economy globally, surpassing Germany and Japan. Currently, India is ranked fifth but is expected to overtake Japan by 2026 to become the fourth-largest economy. This growth is driven by strong macroeconomic policies, improved infrastructure, and a growing consumer market, which will increase India’s share of global GDP from 3.5% in 2023 to 4.5% in 2029.

The Shri S Ramakrishnan Centre of Excellence in Fluid and Thermal Science Research was launched at IIT Madras. This state-of-the-art facility aims to address thermal challenges in space applications, particularly focusing on heat dissipation in satellites and launch vehicles. The centre is part of a collaboration between ISRO and IIT Madras, designed to enhance India’s self-reliance in space technologies and contribute to the country's future deep-space missions. The centre will also foster industry-academia collaborations to improve space research capabilities.

The State Bank of India (SBI) is setting up a specialized unit to handle project financing for emerging sectors such as artificial intelligence (AI), e-commerce, and fintech. This initiative is part of SBI's broader strategy to diversify its project finance portfolio beyond traditional infrastructure projects. The bank plans to complete the setup of this unit within a year, recruit specialized professionals, and appoint an external consultant for its successful execution. The unit will be named the "Center of Excellence for Project Financing" and will provide financing solutions to new-age industries.

Intel Corporation appointed Lip-Bu Tan as its new Chief Executive Officer (CEO), effective March 18, 2025. This leadership change marks a pivotal moment for the company as Tan, a veteran technology leader with significant experience in the semiconductor industry, takes over from Interim Co-CEOs David Zinsner and Michelle Johnston Holthaus. Tan’s leadership style, rooted in customer-centric strategies and his prior success at Cadence Design Systems, is expected to help drive Intel’s turnaround and innovation in the competitive semiconductor market.

Dr. Shivkumar Kalyanaraman has been appointed as the CEO of the Anusandhan National Research Foundation (ANRF), succeeding Prof. Abhay Karandikar. Dr. Kalyanaraman is an alumnus of IIT Madras and Ohio State and has previously held key roles at Microsoft. He is also a Fellow of IEEE, INAE, and ACM.