Current Affairs - March 29, 2025 Current Affairs

Punjab & Sind Bank received the Top Improvers award in the EASE 6.0 Reforms Index, recognizing its significant progress in enhancing banking services, digital transformation, and customer-centric initiatives. This award is part of the government’s Enhanced Access & Service Excellence (EASE) initiative, which evaluates public sector banks on key performance metrics. Under the leadership of Swarup Kumar Saha, the bank focused on modernization, operational efficiency, and customer satisfaction, reflecting its commitment to excellence in the public banking sector.

Jasprit Bumrah has been announced as the brand ambassador of L&T Finance Ltd. This strategic partnership aims to enhance LTF’s brand presence across India and connect with a wide range of customers. Bumrah, known for his dynamic cricketing career, will play a key role in LTF’s marketing campaigns, both Above The Line (ATL) and Below The Line (BTL), to boost brand awareness, customer engagement, and promote the company’s diverse financial products and services. His association reflects LTF’s vision to connect with a broader, diverse audience effectively.

The Kosi Mechi Intra-State Link Project, approved by the Cabinet under the PMKSY-AIBP, is set to benefit the state of Bihar. The project, with central support of Rs. 3,652.56 crore, aims to divert surplus water from the Kosi River for irrigation purposes. It will cover 2,10,516 hectares across Bihar's Araria, Purnea, Kishanganj, and Katihar districts, enhancing agricultural productivity. This initiative aligns with the broader objectives of the PMKSY to improve irrigation access and water resource management in the region, significantly impacting Bihar's agricultural sector.

Challa Sreenivasalu Setty, also known as CS Setty, has been appointed as the Chairman of the Indian Banks Association (IBA) for the upcoming fiscal year. Setty, who currently serves as the Chairman of the State Bank of India (SBI), will lead the IBA in advocating for the banking sector, addressing industry challenges, and ensuring policy support. His appointment was confirmed after the IBA managing committee meeting held on March 28, 2025, succeeding MV Rao, the Chief Executive of the Central Bank of India.

Techkriti 2025, Asia’s largest intercollegiate technical and entrepreneurial festival, was hosted by the Indian Institute of Technology (IIT) Kanpur. The event was inaugurated by Chief of Defence Staff General Anil Chauhan and served as a platform for technological innovation, bringing together scholars, industry experts, and defence personnel. The festival featured discussions on future warfare technologies, including Cybersecurity, AI, Quantum Computing, and Cognitive Warfare, reflecting India’s focus on technological self-reliance and advancements in national security.

Sunil Kakkar has been appointed as an Additional Director and Whole-Time Director at Maruti Suzuki India Limited, holding the position of Director (Corporate Planning) for the tenure from April 1, 2025, to March 31, 2028. With over 35 years of experience at Maruti Suzuki, he has significantly contributed to corporate planning, supply chain management, and localisation initiatives. Kakkar’s leadership in strategic joint ventures and his role in advancing industry collaborations have been pivotal to Maruti Suzuki’s growth and the development of the Indian automotive sector.

Rajneet Kohli has been appointed as the Executive Director of the Foods and Refreshment Division at Hindustan Unilever (HUL), effective from April 7, 2025. Kohli, who previously served as the CEO of Britannia Industries, brings nearly 30 years of experience in the consumer and retail sectors, including roles at Asian Paints, Coca-Cola, and Jubilant FoodWorks. His leadership at Britannia was marked by driving product innovation and digital transformation. At HUL, he will focus on expanding the company’s foods and beverages segment, succeeding Shiva Krishnamurthy.

The Telangana Organ Transplantation Bill, 2025 was specifically passed by the state of Telangana. The bill was designed to align state regulations with the Central Act, aiming to tackle illegal organ trade and enhance transparency. Key provisions include increased penalties for organ trafficking, permitting grandparents to donate organs to grandchildren, and broadening the criteria for declaring brain death. Additionally, the bill seeks to promote medical tourism and improve organ transplant services in Telangana.

The 14th edition of the India-Russia bilateral naval exercise, INDRA 2025, involves the participation of Russia alongside India. This exercise took place from March 28 to April 2, 2025, off the coast of Chennai, focusing on strengthening maritime cooperation between the two nations. It comprises two phases: the Harbour phase, featuring exchanges and sports activities, and the Sea phase, which includes advanced naval drills. Russian naval ships such as Pechanga, Rezkiy, and Aldar Tsydenzhapov joined the exercise, highlighting the strategic naval collaboration between India and Russia.

In Q3 FY25, India’s current account deficit (CAD) widened to $11.5 billion, which accounted for 1.1% of the country’s GDP. This increase was primarily driven by a higher merchandise trade deficit. Compared to the previous quarter (Q2 FY25), where the CAD was $16.7 billion (1.8% of GDP), this reflects a moderate improvement. The full-year CAD for FY25 is expected to be around 0.8% of GDP, with a slight increase projected for FY26. This indicates a stable external sector performance amid global economic fluctuations.