Current Affairs Quiz 12th March 2025 Quiz

Exp. Assam to launch its satellite, talks on with ISRO for ASSAMSAT project

The Assam state government has announced plans to launch its own satellite, ASSAMSAT soon, aiming to strengthen data access for key socio-economic initiatives and enhance border surveillance.

The ASSAMSAT satellite can help providing dedicated services for agriculture, disaster management, infrastructure development, and security border management and police operations.

The satellite will be set up in collaboration with IN-SPACe (Indian National Space Promotion and Authorization Center) which promotes private investment and innovation in the space sector and Indian Space Research Organisation (Isro).

About Assam

• Formation – 26 January 1950
• Capital – Dispur
• Chief Minister –Himanta Biswa Sarma
• Governor – Lakshman Prasad Acharya

Exp. PM Surya Ghar: Muft Bijli Yojana Crosses Milestone of 10 Lakh Installations

PM Surya Ghar: Muft Bijli Yojana (PMSGMBY), the world’s largest domestic rooftop solar initiative, has achieved a significant milestone by completing 10.09 lakh installations across the country as of 10th March 2025.

This ambitious scheme, launched by PM Modi on 13th February 2024, aims to provide free electricity through rooftop solar systems to 1 crore residential households and reduce dependence on conventional power sources while enabling citizens to become energy producers.

The scheme enables every household to contribute to climate change mitigation by reducing carbon emissions equivalent to planting 100 trees.

The scheme, implemented by the Ministry of New and Renewable Energy (MNRE) has received 47.3 lakh applications. 6.13 lakh beneficiaries have successfully received subsidies, amounting to ₹ 4,770 crore. With a fully automated application, vendor selection and subsidy redeem process through www.pmsuryaghar.gov.in subsidies get credited to applicants’ bank accounts within 15 days.

Under PM Modi’s leadership, a key feature of the PM Surya Ghar: Muft Bijli Yojana is the provision of collateral-free loans through 12 Public Sector Banks (PSBs) at a subsidized interest rate of 6.75% for loans up to Rs. 2 lakhs, making rooftop solar installations more accessible to the masses. With the easy loan facility, a 3 KW rooftop solar system could be installed with an investment as low as ₹15,000/- giving returns up to ₹15 lakh in 25 years.

Loan application process is also fully automated and online. So far, 3.10 lakh loan applications have been received, with 1.58 lakh loans sanctioned and 1.28 lakh disbursed, ensuring wider accessibility for potential beneficiaries. Beneficiaries receive subsidy of upto ₹78000 for upto 3KW rooftop solar systems, significantly reducing installation costs.

Notably, Chandigarh and Daman & Diu have achieved 100% of their government-building rooftop solar targets, leading the nation in clean energy adoption. States like Rajasthan, Maharashtra, Gujarat, and Tamil Nadu also perform exceptionally well, contributing significantly to the overall installation figures.

The Government is actively monitoring the progress across all states to ensure the smooth and timely execution of the scheme, with the goal of reaching 1 crore households by 2026-27.

The scheme has a total outlay of ₹75,021 crore.  

Exp. India signs MoU for development of state-of-the-art multi-modal logistics park in Varanasi

A significant MoU was signed between National Highways Logistics Management Limited (NHLML) and the Inland Waterways Authority of India (IWAI) to develop a state-of-the-art Multi-Modal Logistics Park (MMLP) in Varanasi, Uttar Pradesh.

The MMLP will be located on a 150-acre site and will be strategically connected to National Highway 7 (NH7) via a 650-meter access road. It is positioned just 1.5 kilometres from the crucial NH7-NH2 junction, enhancing connectivity within the region.

In addition to road access, the park will seamlessly integrate with the Eastern Dedicated Freight Corridor through a 5.1 km railway line from Jeonathpur Station. The location is also well connected to National Waterway-1, and is only 30 kilometres from Lal Bahadur Shastri Airport, ensuring robust transportation links for both domestic and international trade.

The project is expected to create significant investment opportunities and generate employment, providing a major boost to India’s logistics sector.

Exp. SBI Life Insurance expands product line with two new Child Insurance Plans

SBI Life Insurance has introduced two new child insurance plans, “SBI Life – Smart Future Star” and “SBI Life – Smart Platina Young Achiever,” aimed at helping parents secure their children’s financial future.

These plans address rising concerns like increasing education costs, evolving career goals, and lifestyle expenses, offering a comprehensive financial safety net for children.

Key features include flexible payout options, premium waivers in case of a parent’s death or disability, and opportunities for long-term savings or guaranteed benefits, depending on the plan.

The launch reflects SBI Life’s commitment to empowering parents with innovative solutions that blend protection and financial growth, ensuring children can pursue their aspirations confidently.

Recent Facilities Launched in Banking & Insurance Sector

• Bank of Baroda launched a specialised savings account for women NRIs named, BoB Global Women NRE & NRO Savings Account
• SBI launched a collateral free digital SME (small and medium enterprise) loan product ‘SBI Asmita’ for women entrepreneurs to help them expand their business
• SBI launched ‘Nari Shakti’ platinum debit card to cater to the needs of women across various segments.
• PhonePe launched the ‘insuring HEROES’ campaign on the occasion of International Women’s Day.
• HDFC Bank launches Project HAKK (Hawai Anubhavi Kalyan Kendra) to support IAF veterans
• ICICI Prudential Life Insurance launches ‘Pru GIFT Select’ for guaranteed income

Exp. RBIH Launches DesignShaala™ to Drive Financial Innovation Through Human-Centered Design

Reserve Bank Innovation Hub (RBIH) has launched DesignShaala™, an initiative aimed at promoting financial innovation through Human-Centered Design (HCD).

The program was launched by Nandan Nilekani, Chairman and Co-Founder of Infosys, during the ‘Building for Billions’ event in Bengaluru.

DesignShaala™ is designed to ensure financial solutions are built around real user needs, behaviors, and experiences, making finance more intuitive, inclusive, and impactful.

The initiative aims to empower financial innovators to develop solutions that go beyond functionality and deliver truly transformative user experiences.

Exp. Former central banker Mark Carney to become Canada’s next PM

Former central banker Mark Carney will become Canada’s next Prime Minister after the governing Liberal Party elected him as its leader.

He will replace Prime Minister Justin Trudeau, who announced his resignation in January.

59-year-old Mark Carney previously served as Governor of the Bank of Canada before making history in 2013 as the first non-citizen to lead the Bank of England.

Newly Appointed Prime Minister & President

• PM of Canada – Mark Carney (replace Justin Trudeau)
• Chancellor of Austria – Christian Stocker
• Romania’s Interim President – Ilie Bolojans
• 72nd US Secretary of State in the Trump Administration – Marco Rubio
• PM of Belgium – Bart De Wever
• President of Belarus -Alexander Lukashenkos

Exp. Takashi Nakajima named new president & CEO of Honda Cars India

Honda Motor Co., Ltd. has appointed Takashi Nakajima as the new president & CEO of Honda Cars India Ltd (HCIL).

He will take charge from April 1, 2025, consequent to the management changes announced annually by the parent company.

Mr. Nakajima joined Honda in 1994 and has been associated with Honda Motor Co. Ltd. for more than 30 years. He has gained experience having worked in various positions of responsibility in several international markets like Japan, China, Spain, Czech Republic and Russia in the areas of Business Planning, Product Planning, Marketing and Sales Promotion.

Exp. Salman Khan joins this small-cap FMCG company as brand ambassador

GRM Overseas or “GRM”, a prominent FMCG player in India, is poised to transform the Wheat Flour market with its new campaign for 10X Classic Chakki Fresh Atta, featuring the company’s recently appointed brand ambassador, Bollywood actor Salman Khan.

GRM aims to help consumers shift from unpackaged to branded packaged Atta, ensuring better hygiene and quality. The company provides pure, unadulterated wheat flour with consistent quality and nutrition for families across India.

MD of GRM Overseas – Atul Garg

Recent Brand Ambassador

• Vidya Balan – Federal Bank
• Shubman Gill – Tyre brand MRFs
• Punjabi singer and actor Diljit Dosanjh – American clothing brand, Levi’s
• PV Sindhu – PUMA India
• Tata Mumbai Marathon – Mo Farah
• MS Dhoni – Eurogrip Tyres

Exp. Avanse Financial Unveils ‘SWALAKSH’—A Special Education Loan for Women.

Avanse Financial Services Ltd. (Avanse) has launched ‘SWALAKSH’, a specialised education loan tailored for female students aspiring to study abroad.

This initiative aims to empower more women by providing financial support and exclusive benefits, reinforcing Avanse’s commitment to fostering higher education for women.

With ‘SWALAKSH,’ Avanse Financial Services reaffirms its dedication to providing financial access and opportunities to women, fostering an inclusive and educated future for India.

Exp. Central Council for Research in Homoeopathy and Adamas University Sign MoU to Advance Homoeopathy Research

The Central Council for Research in Homoeopathy (CCRH), New Delhi and Adamas University, Kolkata, have signed an MoU to foster academic and research collaboration in the field of Homoeopathy.

This MoU marks a significant milestone in interdisciplinary research, paving the way for scientific advancements in homoeopathy through knowledge exchange and collaborative initiatives. It reflects the shared commitment of both institutions to furthering innovation and evidence-based research in alternative medicine.

Exp. Atul Kumar Goel assumes charge as Chief Executive of IBA

Atul Kumar Goel has appointed as the Chief Executive (CE) of The Indian Banks’ Association (IBA).

Goel was MD and CEO of Punjab National Bank (PNB) from February 2022 to December 2024. He was Chairman of IBA for two terms – 2021-22 and 2022-23.

His predecessor at IBA, Sunil Mehta, too was MD & CEO of PNB (from May 2017 to September 2019) and Chairman of the Association (2018-19). Mehta was IBA CE from January 2020 till September 2024.

The new IBA Chief Executive is a qualified Chartered Accountant. He has three decades of banking experience in four Banks — Allahabad Bank (now Indian Bank), Union Bank of India (as Executive Director), UCO Bank (MD & CEO) and PNB (MD & CEO).

Exp. RBI Inaugurates Digital Payments Awareness Week 2025 to Promote Safe and Inclusive Digital Transactions

The Reserve Bank of India (RBI) has inaugurated the 5th Digital Payments Awareness Week (DPAW), an initiative aimed at spreading awareness about the significance of digital transactions and ensuring their safe usage.

The event, observed from March 10 to 16, 2025, is part of RBI’s mission ‘Har Payment Digital.’

This year’s theme ‘India Pays Digitally’ reflects the country’s remarkable progress toward a digitally empowered society where digital payments are increasingly becoming a way of life.

During the week, RBI, in collaboration with banks, payment system operators, and other stakeholders, will conduct various awareness activities nationwide. These include multimedia campaigns, on-ground educational programs, and extensive outreach through social media platforms.  

Exp. World Para Athletics Grand Prix 2025 begins at Jawaharlal Nehru Stadium

The World Para Athletics Grand Prix (WPA GP) 2025 will kick off at the Jawaharlal Nehru Stadium in New Delhi.

The three-day event will feature a total of 250 para-athletes with 145 Indians and 105 international competitors from 20 countries.

They will compete in 90 athletics competitions, making it one of the largest para-athletics events ever hosted by India. The Indian contingent will be led by Paris 2024 Paralympics gold medallists Praveen Kumar, Navdeep Singh and Dharambir.

Exp. CWG Federation rebranded as Commonwealth Sport

The Commonwealth Games Federation (CGF) has changed its name to Commonwealth Sports under the ‘More in Common’ brand campaign.

The announcement was made on the occasion of Commonwealth Day, an annual celebration of the Commonwealth of Nations held on the second Monday in March.

The Commonwealth Day also marks the launch of the Commonwealth Sport King’s Baton Relay at Buckingham Place, starting the relay with 500 days to go to the Opening Ceremony of Glasgow 2026.

CEO of Commonwealth Sport – Katie Sadleir