Current Affairs Quiz 17th April 2025 Quiz

Exp. Former Finance Secretary Pandey appointed vice-president at AIIB

Ajay Bhushan Pandey, former Finance Secretary and CEO of Aadhaar, has been appointed as the Vice President of Investment Solutions at the Asian Infrastructure Investment Bank (AIIB), headquartered in Beijing.

In his new role, Pandey will lead and oversee three major departments: Sectors, Themes and Finance Solutions (STF), Sustainability and Fiduciary Solutions (SFD), and Portfolio Management Department (PMD).

India is the second-largest shareholder in AIIB, following China.

According to the bank’s official data, China is the largest shareholder of AIIB with 26.54 per cent voting shares. India is the second largest shareholder with 7.58 per cent, followed by Russia, 5.9 per cent and Germany with 4.1 per cent.

Recent Appointment in Banking & Insurance Sector

• Chairperson of Pension Fund Regulatory and Development Authority (PFRDA) – Sivasubramanian Ramann (replace Deepak Mohanty)
• Deputy Governor of RBI – Poonam Gupta; for 3 years (replace Michael Patra)
• MD & CEO of SBI Card – Salila Pande (replace Abhijeet Chakravorty)
• Whole-time Member (Life) of IRDAI – Swaminathan S. Iyer
• Secretary of Indian Banks’ Association (IBA) – B Ramesh Babu

Exp.  Morgan Stanley prunes FY26 India growth forecast to 6.1%

The RBI revised India’s FY26 GDP growth forecast from 6.7% to 6.5%, while Morgan Stanley further lowered it to 6.1%, citing global trade and policy uncertainties affecting business sentiment and capex cycles.

Morgan Stanley expects growth to bottom out at 5.7% in Q3 FY26, down from 6.2% in Q3 FY25, with a slower recovery projected for FY27 at 6.3%.

Inflation is expected to average around 4% in FY26, and RBI may implement a cumulative 100 bps rate cut, with two more cuts expected in 2025 to support the economy amidst slower growth.

Exp. NITI Aayog launches Report on ‘Unlocking $25+ Billion Export Potential – India’s Hand & Power Tools Sector’

NITI Aayog launched a report on Hand and Power tools sectors – ‘Unlocking $25+ Billion Export Potential – India’s Hand & Power Tools Sector’.

The report suggests that the global trade market for power and hand tools, currently valued at approximately $ 100 billion, is projected to grow significantly, reaching around $ 190 billion by 2035.

Within this market, hand tools account for $ 34 billion and are expected to expand to $ 60 billion by 2035, while power tools, including tool accessories, represent $ 63 billion and are anticipated to surge to $ 134 billion, with electrical tools comprising the majority.

The report observes that the tools industry serves as a foundational pillar of the global manufacturing ecosystem. The Hand and Power Tools sector will help enhance our domestic manufacturing and expand our global footprint by $ 25 billion in the next 10 years.

Exp. Ministry of Labour Signs MoU with Swiggy to Boost Gig Economy Jobs and Expand Employment Opportunities through NCS Platform

The Ministry of Labour & Employment signed an MoU with Swiggy via the National Career Service (NCS) portal to boost employment in the gig and logistics sectors, especially for youth in urban and semi-urban areas.

The NCS platform currently has over 1.25 crore active job seekers and 40 lakh registered employers, aiming to become a one-stop solution for employment, skilling, counselling, and hyperlocal job matching.

Swiggy has committed to mobilizing over 12 lakh job opportunities through the NCS portal over the next 2–3 years, enhancing access to flexible, location-based jobs.

The collaboration is seen as a mutually beneficial public-private model, aligning with the government’s vision of inclusive growth and empowering India’s digital and gig economy workforce.

Exp. India-Uzbekistan Joint Military Exercise ‘DUSTLIK-VI’ Kicks Off in Pune, Focusing on Counter-Terrorism and Interoperability

The India-Uzbekistan Joint Military Exercise ‘DUSTLIK-VI’ commenced on April 16 at the Foreign Training Node, Aundh in Pune, Maharashtra, focusing on developing interoperability and counter-terrorism capabilities.

The exercise will run until April 28, with the Uzbekistan Army personnel participating, and is based on joint multi-domain sub-conventional operations in a semi-urban scenario, addressing terrorist actions involving territorial capture.

‘DUSTLIK-VI’ is an annual event conducted alternately between India and Uzbekistan, with the previous edition held in Termez District, Uzbekistan, in April 2024.

Recent Exercise

• Indian Air Force (IAF) participate in the multinational air exercise INIOCHOS-25 in Greece’s Hellenic Air Force.
• 14th edition of Exercise Indra between India and Russia -Chennai
• 23^rd edition of bilateral naval exercise, Varuna 2025 between India and Franc – Arabian Sea
• INS Ranvir participates in Exercise Bongosagar 2025 between India and Bangladesh
• 12th edition of Exercise KHANJAR-XII between India and Kyrgyzstan – Tokmok, Kyrgyzstan

Exp. Chief Justice Sanjiv Khanna names Justice BR Gavai as his successor

Chief Justice of India Sanjiv Khanna has recommended Justice B.R. Gavai to the government for appointment as the 52nd Chief Justice of India. Chief Justice Khanna is scheduled to retire on May 13.

Born on November 24, 1960 at Amravati, Justice Gavai joined the Bar on March 16, 1985. Justice Gavai’s father, Ramakrishna Suryabhan Gavai, also known as ‘Dadasaheb’, was a former Governor of Bihar and a prominent Dalit leader.

He was elevated as a judge of the Supreme Court on May 24, 2019 and is due to retire on November 23, 2025.

Justice Gavai, as a Supreme Court judge, was part of many impactful decisions, including the upholding of abrogation of Article 370 of the Constitution and the striking down of the electoral bonds scheme. The judge laid down pan-India guidelines against illegal demolitions or the ‘bulldozer culture’ of States.

He was part of a Constitution Bench which held that States have a right to sub-classify Scheduled Castes notified in the Presidential List in order to provide them more preferential treatment in public employment and education.

Justice Gavai’s judgment in the Manish Sisodia bail case had fortified the right to personal liberty. He headed the Bench which had ordered the release of Perarivalan, a convict in the Rajiv Gandhi assassination case.

Justice Gavai practised in the Bombay High Court from 1987 and appeared in Constitutional and Administrative Law cases. He was elevated as Additional Judge of the Bombay High Court in 2003 and was appointed a Permanent Judge in November 2005.

Exp. United India Insurance, SIDBI in pact to offer insurance products for MSMEs

United India Insurance Company Ltd (UIICL), a public sector non-life insurer, has partnered with the Small Industries Development Bank of India (SIDBI) to distribute general insurance products tailored for the MSME sector.

The tie-up aims to provide comprehensive insurance solutions — including home, health, motor, and engineering products — to SIDBI’s customer base across its 123 branches nationwide.

This partnership marks a significant move towards offering customized insurance solutions to MSMEs, a sector central to India’s economic growth.

Recent MoUs Signed in Banking Sector

• India Post Partners with Nippon India Mutual Fund to Enhance KYC Verification Services
• Central Bank of India Partners with PSB Alliance for Digital Supply Chain Finance
• SEBI Partners with DigiLocker to Tackle Unclaimed Assets in Securities Market
• DPIIT and YES BANK Partner to Strengthen India’s Startup Ecosystem
• Piramal Finance partnered with Punjab & Sind Bank to make loans more accessible to middle and low-income borrowers, especially in rural and semi-urban areas.
• SIDBI signs MoU with Federal Bank to foster growth of MSME ecosystem

Exp. Railways Minister commemorates 172nd anniversary of India’s 1st train journey

Railways Minister Ashwini Vaishnaw has commemorated the 172nd anniversary of India’s first train journey, recalling the historic moment when the inaugural train departed from Bori Bunder to Thane in Maharashtra on the 16th of April in 1853.

The train consisted of 14 coaches carrying 400 invited passengers. The train was hauled by three engines named Sindh, Sultan, and Saheb and covered a distance of 34 kilometers in 1 hour and 15 minutes.

Exp. Mumbai’s Panchavati Express gets India’s first train ATM

The Bank of Maharashtra has installed an ATM on board the Mumbai-Manmad Panchavati Express, in collaboration with the Bhusawal division of Central Railway (CR), to enhance passenger convenience.

The ATM installation is part of Indian Railways’ Innovative and Non-Fare Revenue Ideas Scheme (INFRIS), aimed at increasing non-fare revenue and improving amenities for passengers.

Following the successful trial run, the ATM installation will be extended to other trains, with the necessary upgrades carried out at the Manmad Railway Workshop.

The ATM is located in the train’s pantry car, providing passengers with easy access to cash during their journey.

Exp. Zepto renames parent entity Kiranakart Tech, ahead of possible IPO

The quick-commerce startup Zepto has officially changed the name of its parent company from Kiranakart Technologies Private Limited to Zepto Private Limited, a move aimed at preparing for a potential stock market debut.

The rebranding, approved by the Registrar of Companies (RoC) in Mumbai, adheres to the legal procedure for changing a company’s name in India, which includes receiving shareholder approval, filing with the RoC, and obtaining clearance from the central government.

This move aligns with similar rebranding efforts by competitors like Swiggy and Zomato, who changed their corporate names ahead of their IPOs or platform diversifications, while maintaining their brand identities.

Exp. South California city of Pomona to host cricket in LA 2028 Olympics

South California city of Pomona will host the cricket competition during the 2028 Los Angeles Olympics.

The cricket event, which will feature six teams each in men’s and women’s categories, will be held at the Fairgrounds in Pomona with the sport set to be a part of the Olympics after 128 years.

Cricket joined five new sports at LA28, including baseball/softball, flag football, lacrosse (sixes) and squash.

The T20 format, recognised as the vehicle for the growth of the game by the ICC, has also featured in other multi-sport events in recent years.

The Asian Games in 2010, 2014 and 2023 featured both men’s and women’s T20 competitions while the Birmingham 2022 Commonwealth Games staged a women’s competition.

Exp. ADB’s cumulative loan commitment to India reaches $59.5 billion in 2024

Asian Development Bank’s cumulative loan commitment to India as of December 31, 2024, increased to reach $59.5 billion as against $55.3 billion in 2023.

In support of the Government of India catalysing robust, climate-resilient, and inclusive growth, it committed financing worth $4.25 billion for 21 projects in 2024.

ADB’s cumulative assistance to India, as of December 31 2024, includes 657 public sector loans, grants, and technical assistance totalling $59.5 billion to India. ADB’s current sovereign portfolio in India includes 78 loans worth $16.23 billion.

About Asian Development Bank (ADB)

• Founded – 19 December 1966
• Headquarters – Mandaluyong, Metro Manila, Philippines
• President – Masato Kanda (replace Masatsugu Asakawa)
• Vice President – Ashok Lavasa
• Director of ADB for India – Mio Oka (replace Takeo Konishi)
• Executive Director – Vikas Sheel
• Adviser to the Executive Director – Smita Sarangi
• Member Countries – 69 (Israel)

Exp. 17 April – World Haemophilia Day

World Haemophilia Day is observed every year on April 17 to spread awareness about haemophilia and other bleeding disorders.

The day commemorates the birth anniversary of Frank Schnabel, founder of the World Federation of Hemophilia (WFH).

Theme 2025 – Access for All: Women and Girls Bleed Too

World Haemophilia Day was founded in 1989 by the World Federation of Haemophilia to honour its founder Frank Schnabel, who played a pivotal role in raising awareness about haemophilia and dedicated his life to serving people suffering from the disorder.

What is Hemophilia?

• Hemophilia is a rare genetic bleeding disorder in which the blood doesn’t clot properly due to a deficiency or absence of certain clotting factors (proteins needed for blood clotting).

Exp. The 3rd edition of Meghayan, the Indian Navy’s Meteorological and Oceanological Symposium, was held at Nausena Bhawan, Delhi, to mark World Meteorological Day. The event was virtually inaugurated by Admiral Dinesh K Tripathi, Chief of Naval Staff.

The symposium brought together premier institutions like IMD, IITM, INCOIS, NIOT, ISRO, and IIT-M, featuring two technical sessions, expert panels, and discussions focused on the WMO Day 2025 theme: “Closing the Early Warning Gap Together.”

Key highlights included the launch of MOSDAC-IN, a satellite weather data platform developed jointly by the Indian Navy and ISRO’s SAC Ahmedabad, and the revival of the Navy’s meteorological journal “Sagarmanthan” after nearly 10 years.