Daily Current Affairs and GK | 29 March 2025

Topic: Government Schemes and Initiatives

1. Plans to set up second National Gene Bank (NGB) has been announced by the government. 

• This is part of governments’ efforts to enhance long-term food and nutrition security. 

• The initiative comes under the "Investing in Innovations" theme in the Union Budget for 2025-26. 
• NGB aims to conserve 10 lakh crop germplasm for future use. 
• The first National Gene Bank is located at ICAR- National Bureau of Plant Genetic Resources (NBPGR) in New Delhi. 
• It is the second-largest gene bank worldwide. 
• The first NGB holds 4,71,561 accessions from 2,157 species. 
• These accessions are vital for crop improvement and genetic resource management. 
• They are available to both public and private organizations carrying out agricultural research and development. 
• The new Gene Bank will feature advanced infrastructure. 
• The initiative is a significant step toward promoting sustainable agriculture. It also aims to secure food resources for future generations.

Topic: Reports and Indices

2. The ranking of Gujarat International Finance Tec-City (GIFT City) has improved in Global Financial Centres Index (GFCI 37).

• GIFT City ranked first in the 'Reputational Advantage' category. It improved its FinTech ranking from 45th to 40th. 
• Overall position of GIFT City improved from 52nd to 46th. 
• GIFT City remains among top 15 financial centres in the Asia-Pacific. 
• The GFCI is produced by Z/Yen Group. It evaluates global financial hubs.
• The evaluation is based on 140 factors from organizations like the World Bank and OECD. 
• These factors assess financial centres on aspects such as business environment, infrastructure, human capital, financial development, and overall competitiveness. 
• The GFCI 37 report reviewed 133 financial centres, with 119 included in the main index.

Topic: State News/ Bihar

3. Government approved Patna-Arrah-Sasaram Corridor and Kosi-Mechi Intra-State link project.

• The Cabinet Committee on Economic Affairs (CCEA) approved two major infrastructure projects in Bihar—the Patna-Arrah-Sasaram Corridor and the Kosi-Mechi Intra-State Link Project.
• Patna-Arrah-Sasaram Corridor will be a 4-lane access-controlled 120.10 km long highway.
• This project will be developed under the Hybrid Annuity Mode (HAM) at a capital cost of Rs. 3,712.40 crore.
• This corridor will have greenfield and brownfield developments.
• It will generate 48 lakh man-days of employment and contribute to socio-economic growth in the region.
• Kosi-Mechi Intra-State Link Project will receive central support of Rs. 3,652.56 crore and will be completed by March 2029.
• The main aim of the project is to divert surplus water from the Kosi River to irrigate the Mahananda basin in Bihar.
• It will create an additional irrigation potential of 2.10 lakh hectares across four districts: Araria, Purnea, Kishanganj, and Katihar.

Topic: Sports

4. Haryana topped the table in the Khelo India Para Games 2025.

• Khelo India Para Games 2025 concluded at JLN Stadium, New Delhi.
• The second edition of the Khelo India Para Games ended with para-athletes securing more than 550 medals.
• In the medal tally, Haryana topped the chart with 34 gold, 39 silver, and 31 bronze medals.
• Tamil Nadu secured second place with 28 gold, 19 silver, and 27 bronze medals.
• Uttar Pradesh finished third with 23 gold, 21 silver, and 20 bronze medals.
• More than 1,300 para-athletes compete across six sports, including Para Archery, Para Athletics, Para Badminton, Para Powerlifting, Para Shooting, and Para Table Tennis.

Topic: Indian Economy

5. Government increased MGNREGS wages by 2-7% for FY26.

• For the financial year 2025-26, the government has increased wages under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) by 2-7%.
• The Ministry of Rural Development (MoRD) issued a notification revising the NREGS wages for FY 2025-26.
• In absolute terms, the NREGS wages would increase in the range of Rs 7 to Rs 26.
• The NREGS wages have been hiked by ₹7 in five states, Andhra Pradesh, Arunachal Pradesh, Assam, Nagaland, and Telangana.
• The highest increase will be of Rs 26 in Haryana, where NREGS wages will touch the Rs 400-mark during 2025-26.
• It will be the first time the NREGS wages will touch Rs 400 per day in any state.
• The NREGS wage rates are fixed according to changes in the CPI-AL (Consumer Price Index for Agricultural Labourers).

Topic: Indian Polity

6. Lok Sabha passed the Carriage of Goods by Sea Bill,2024.

• The Carriage of Goods by Sea Bill,2024 will replace the Indian Carriage of Goods by Sea Act, 1925.
• It aims to modernize regulations governing the responsibilities, liabilities, rights, and immunities of carriers involved in the transportation of goods by sea.
• It will consolidate the law relating to ports, and promote integrated port development.
• It will facilitate ease of doing business and ensure the optimum utilisation of India’s coastline by establishing and empowering State Maritime Boards.
• The Maritime State Development Council will also be formed to foster structured growth development of the port sector.
• It empowers the central government to amend the schedule specifying rules applicable to bills of lading.
• The Act applies to ships transporting goods from an Indian port to a foreign port and between Indian ports.

Topic: Government Schemes and Initiatives

7. A ₹22,919 crore electronics component manufacturing scheme announced by the Union Cabinet.

• On March 28, Union Minister Ashwini Vaishnaw announced that the Union Cabinet has approved the Non-Semiconductor Electronics Component Manufacturing Scheme.
• The production-linked incentive scheme will have an outlay of Rs 22,919 crore.
• Electronics manufacturing has seen historic growth, with production increasing fivefold in CAGR and exports growing sixfold, making electronics one of the top three exported goods.
• He said that capacitors, inductors, resistors, connectors, etc. would be manufactured in the country.
• This will significantly enhance value addition in India, generating ₹4,56,000 crore in production and 91,600 direct jobs.

Topic: Geography

8. Massive earthquake tremors were felt in Myanmar and Bangkok.

• On March 28, two consecutive earthquakes measuring 7.7 and 6.4 on the Richter scale struck Myanmar.
• At least 694 people have been killed and 1,670 injured so far in this devastating earthquake.
• The iconic Ava Bridge in Mandalay, Myanmar, reportedly collapsed into the Irrawaddy River, and several buildings collapsed due to the massive earthquake, which had its epicenter near Sagaing.
• Strong tremors were also felt in Thailand's capital, Bangkok, about 900 kilometers away, forcing people to flee their homes.
• In India, mild tremors were also felt in Kolkata and Imphal.
• An earthquake is the shaking of the Earth's surface caused by the sudden release of energy in the Earth's lithosphere, generating seismic waves that reach us as vibrations.
• The Richter Scale measures the magnitude, which refers to the energy released during the earthquake. It is expressed in numbers from 0 to 10.

Topic: International Appointments

9. The Australian government appointed Steve Waugh to the Australia-India relations advisory board.

• Former cricketer Steve Waugh has been appointed to the Centre for Australia-India Relations Advisory Board by the Australian government.
• In 2023, the Australian Government established the Centre for Australia-India Relations to support and facilitate greater collaboration and engagement with India.
• It works across all levels of government, industry, academia, and the community to build a better understanding of the Australia-India relationship and encourage businesses to take advantage of opportunities related to the economic partnership.
• The Advisory Board guides strategic priorities for the Center's programs and activities and improves partnerships across business, the arts, education, health, science, technology, and sports.

Topic: National News

10. India’s first Nano Electronics Roadshow inaugurated at IISc Bengaluru by the MeitY secretary.

• On March 27, India’s first Nano Electronics Roadshow was successfully hosted at the National Science Seminar Complex, IISc Bengaluru.
• The event was organized by the Ministry of Electronics and Information Technology (MeitY) in partnership with IISc Bengaluru, IIT Bombay, IIT Madras, IIT Delhi, IIT Kharagpur, and IIT Guwahati.
• The event proved to be a significant milestone in the vision of India’s self-reliant semiconductor ecosystem.
• The roadshow showcased over 100 intellectual properties (IP), over 50 innovative technologies and innovations from over 35 emerging startups supported by six state-of-the-art nanoelectronics centres across the country.
• The roadshow brought together over 700 industry leaders, policy makers, and academia on a single platform to discuss strategies to strengthen India’s nanoelectronics ecosystem.
• India's semiconductor demand is currently at $45-50 billion, which is expected to reach $100-110 billion by 2030.

(Source: News on AIR)

Topic: National Appointment

11. S.K. Majumdar appointed as the Executive Director of Canara Bank.

• The Central Government has appointed SK Majumdar as the Executive Director of the Bank for a term of three years with effect from March 24, 2025.
• 56-year-old Majumdar is a Chartered Accountant and Cost Accountant with over 25 years of experience in the banking sector.
• He has been associated with Canara Bank since January 2000 and has held key leadership roles in branches and administrative offices including Project Finance, Large Corporate Lending and International Operations.
• Prior to his promotion, Majumdar was the Chief General Manager and Group Chief Financial Officer (GCFO) of Canara Bank.

Topic: Agriculture and Allied Sectors

12. India became the highest milk producer in the world.

• India became top milk producer in the world with 239 MMT milk production.
• India has set a target of producing 300 million metric tons of milk in next five years.
• About 10 crore people in the country are engaged in milk production.
• In India, per person consumption of milk is 471 gram.
• Department of Animal Husbandry and Dairying is implementing the Rashtriya Gokul Mission.
• Its main aim is the development and conservation of indigenous breeds, genetic upgradation of bovine population and enhancement of milk production.
• Rashtriya Gokul Mission was launched in 2014. Its main objective is to enhance the productivity of bovines and increase milk production in a sustainable manner.
• It also aims to enhance artificial insemination coverage by strengthening the breeding network.

Topic: Defence

13. CDS Gen Anil Chauhan inaugurated Techkriti 2025 at IIT Kanpur.

• Chief of Defence Staff (CDS) General Anil Chauhan inaugurated Techkriti 2025, Asia’s largest intercollegiate technical and entrepreneurial festival, at IIT Kanpur.
• He discussed the necessity of technological advancement and modernization within the Indian Armed Forces.
• He said the focus will be on preparing for future wars in domains such as Cyber, Artificial Intelligence, Quantum Computing, and Cognitive Technologies.
• The main highlight of the event is Rakshakriti, a Defence Expo, to showcase cutting-edge defence technology.
• The event provided a platform for researchers to connect with industry leaders.
• It will also help in promoting the development of advanced technologies like autonomous drones.

(Source: News on AIR)