Current Affairs Quiz 1st and 2nd March 2025 Quiz

Exp. G. Kishan Reddy to Inaugurate 175th Foundation Day Celebrations of Geological Survey of India at Kolkata

The Geological Survey of India (GSI), one of the oldest scientific organizations in the country, is set to celebrate its 175th year of geoscientific legacy.

To mark this historic milestone, Union Minister of Coal & Mines, Shri G Kishan Reddy will inaugurate the Foundation Day celebrations on 4th March 2025 at Central Headquarters, Kolkata.

Established in 1851 by Sir Thomas Oldham, GSI has played a pioneering role in geological mapping, mineral exploration, disaster studies, and geoscientific research, significantly contributing to India’s industrial and economic growth.

During the 175th Foundation Day celebrations on 4th March 2025, GSI will showcase its rich legacy and scientific contributions through a series of engaging events, insightful publications and unveiling of Special Postal Cover, My stamp and two geoscientific mobile apps.  

Exp. JP Nadda inaugurates 9th National Health Mission Summit in Puri

Union Minister JP Nadda has inaugurated the 9th National Summit on Good and Replicable Practices in the Public Healthcare System in Odisha’s city of Puri.

The 2-day summit showcases and documents various best practices and innovations adopted by States and UTs for addressing their public health challenges.  

Exp. SIDBI signs MoU with Tata Capital Limited to strengthen financing avenues for MSMEs

Small Industries Development Bank of India (SIDBI) and Tata Capital Limited (TCL) signed an MoU for a “Partnership for financing MSMEs.

The focus is on the growth and development of the MSME ecosystem by way of providing funding avenues in the field of machinery/equipment financing, working capital/CC/OD/business loans, and loans against property, etc.

Further, risk sharing/ co-lending/ joint financing shall also be explored while extending credit facilities to MSMEs.

Exp. SBI Life appoints Dorababu Daparti as Deputy CEO

Dorababu Daparti has been appointed as Deputy Chief Executive Officer (CEO) of SBI Life Insurance Company.

This appointment is based on the recommendation of the nomination and remuneration committee.

Dorababu Daparti is a highly accomplished banking professional with over 29 years of experience in the financial industry. He holds a Master’s degree in Sciences (M.Sc.) and is a Chartered Associate of the Indian Institute of Bankers (CAIIB).

Daparti began his career with the State Bank of India (SBI) in 1995 and, has since held various managerial and executive roles within the organization.

With extensive expertise in international banking, he has a proven track record of success. Daparti served as the Country Head and CEO of SBIs Maldives operations from September 2021.

Recent Appointment in Banking & Insurance Sector

• Chairman of the Securities and Exchange Board of India (SEBI)- Tuhin Kanta Pandey (replace Madhabi Puri Buch) for 3 years
• MD and CEO of Kotak Mahindra Prime – Shahrukh Todiwala (replace Vyomesh Kapasi
• MD & CEO of SBI Cards – Salila Pande (replace Abhijit Chakravorty); effect from 1 April 2025
• CEO of Standard Chartered India – Prabdev (PD) Singh (replace Zarin Daruwala); effect from 1 April 2025
• CEO of Navi Technologies – Rajiv Naresh
• CEO of Navi Finserv – Abhishek Dwivedi

Exp. India Retains Fastest-Growing Economy Tag with 6.2% GDP Growth in Q3 FY25

India’s real Gross Domestic Product (GDP) grew 6.2% in the October to December 2024 period, the third quarter of the fiscal year, picking up pace from the 5.6% growth recorded in the previous quarter, according to data released by the National Statistics Office (NSO).

However, this was considerably slower than the 9.5% growth seen over the same period in 2023. Third-quarter growth trailed the Reserve Bank of India’s estimates by 0.2 percentage points.

As per the First Revised Estimates released by the Ministry of Statistics and Programme Implementation (MoSPI), real GDP is estimated to grow by 6.5 percent in FY 2024-25, and nominal GDP is expected to witness a growth rate of 9.9 percent in the fiscal year.

MoSPI data also highlighted that India’s real GDP grew by 9.2 percent in the financial year 2023-24, the highest annual growth in 12 years, excluding the post-pandemic rebound in FY22.

This growth was attributed to double-digit growth in the ‘Manufacturing’ sector (12.3 percent), the ‘Construction’ sector (10.4 percent), and the ‘Financial, Real Estate & Professional Services’ sector (10.3 percent).

Exp. 27 February – World NGO Day

World NGO Day is observed annually on 27th February to recognize and celebrate the contributions of Non-Governmental Organizations (NGOs) worldwide.

It aims to raise awareness about the role of NGOs in society and encourage people to support and collaborate with them for global development.

Theme 2025 – Empowering Grassroots Movements for a Sustainable Future

The day was officially recognized in 2010 and was first celebrated by the United Nations, EU, and other international organizations in 2014.

Exp. India and Japan renew $75 billion bilateral currency swap agreement

India and Japan have renewed the $75 billion bilateral currencies swap agreement.

The Bilateral Swap Arrangement (BSA) is a two-way arrangement where both authorities can swap their local currencies in exchange for the US dollar.

The Bank of Japan, acting as agent for the Minister of Finance of Japan, and the Reserve Bank of India signed the Second Amendment and Restatement Agreement of the BSA.

Exp. RBI imposes penalty on HSBC, IIFL Samasta Finance for violating norms

The Reserve Bank of India (RBI) has imposed a penalty of Rs 66.60 lakh and Rs 33.10 lakh on The Hong Kong and Shanghai Banking Corporation Limited (HSBC) and IIFL Samasta Finance, respectively, for violating norms.

HSBC Violations: The bank outsourced AML alert closures, failed to report unhedged foreign currency exposures to CICs, and opened savings accounts for ineligible entities.

IIFL Samasta Finance Violations: The company charged interest before loan disbursement, misclassified NPAs, and issued multiple customer IDs instead of a unique identification code

Exp. Govt allows Aadhaar face authentication in private apps to ease service access

The government has introduced a new Aadhaar Governance Portal (http://swik.meity.gov.in) aimed at streamlining the approval process for Aadhaar authentication requests.

Launched by the Ministry of Electronics and Information Technology (MeitY), the platform follows the recent amendments to the Aadhaar Authentication for Good Governance (Social Welfare, Innovation, Knowledge) Rules, 2025, under the Aadhaar Act of 2016.

The new rules are designed to support good governance and improve the delivery of various welfare services and benefits.

According to the ministry, the portal is part of ongoing efforts to simplify processes, enhance service delivery, and improve the overall ease of living for citizens.

Both government and private entities can now use Aadhaar authentication for public services like innovation, knowledge sharing, and improving access to essential services. This will help citizens access services across sectors such as healthcare, education, e-commerce, and hospitality more easily. Service providers will also benefit from Aadhaar authentication for tasks such as staff attendance, customer onboarding, and e-KYC verification.

The portal provides a detailed, step-by-step guide to help entities apply for Aadhaar authentication and onboard seamlessly. Face authentication may also be integrated into customer-facing apps, enabling easy, anytime authentication.

Secretary of MeitY – S. Krishnan

CEO of UIDAI – Bhuvnesh Kumar

Exp. SEBI introduces ‘Bond Central’ to boost transparency in India’s corporate bond market

Markets regulator SEBI has launched a centralised database portal for corporate bonds in a bid to create a single, authentic source of information on such securities.

The portal, Bond Central, has been developed by the Online Bond Platform Providers Association (OBPP Association) in collaboration with Market Infrastructure Institutions (MIIs), which include stock exchanges and depositories.

The Bond Central aims to create a single, authentic source of information on corporate bonds issued in India and is intended as an information repository for the public at large and is accessible free of cost.

This database is expected to enhance transparency and facilitate informed decision-making among investors and other market participants. It will be operated by the OBPP Association, a not-for-profit entity supported by MIIs.

Additionally, investors can compare corporate bond prices with Government Securities (G-Secs) and other fixed-income indices to make better decisions.

Exp. EPFO retains interest rate on PF deposits at 8.25 per cent for 2024-25

Retirement fund body EPFO has decided to retain the interest rate on employees’ provident fund deposits at 8.25 per cent for 2024-25 – the same as the previous year.

The Employees’ Provident Fund Organisation had increased the interest rate on EPF for its 7 crore members to 8.25 per cent for 2023-24, from 8.15 per cent in 2022-23.

The proposal will now be sent to the Ministry of Finance for clearance after which the interest rate on EPF for 2024-25 will be credited into the accounts of the EPFO members.

Exp. TCS extends partnership with Norway’s DNB Bank ASA for 5 years

Tata Consultancy Services (TCS) has extended its partnership with Norway’s largest financial services group, DNB Bank ASA, for an additional five years.

TCS will continue as DNB’s strategic partner, supporting the bank’s digital modernization efforts and enhancing cost efficiency.

The renewed partnership includes maintaining and developing new applications, strengthening security, and leveraging AI and quantum computing for modernization initiatives.

Recent MoUs Signed in Banking Sector

• SIDBI signs MoU with Tata Capital Limited to strengthen financing avenues for MSMEs
• Paytm Partners with AI Startup Perplexity to Enhance Financial Literacy with AI-Powered Search
• Paytm, DPIIT partner to support fintech startups with mentorship & funding
• IndusInd Bank has partnered with the Professional Golf Tour of India (PGTI) as its official Banking Partner.

Exp. Jahan-e-Khusrau festival marks 25 years

Prime Minister Narendra Modi praised the Sufi music festival Jahan-e-Khusrau on its 25-year journey, highlighting its role in preserving India’s cultural and artistic heritage.

Jahan-e-Khusrau, a three-day festival running from February 28 to March 2, brings together artists from across the world to celebrate the legacy of Amir Khusrau.

Organized by the Rumi Foundation, the festival was founded by renowned filmmaker and artist Muzaffar Ali in 2001 and has since become a revered annual cultural event.

Q.14. Neuve-Chapelle War Memorial, recently seen in the news, is located in which country?

हाल ही में समाचारों में रहा, न्यूवे–चैपल युद्ध स्मारक किस देश में स्थित है?

(a) United Kingdom
(b) France
(c) Germany
(d) Belgium
(e) Russia

Exp. Army Chief Gen Upendra Dwivedi Honours WWI Indian Soldiers at Neuve-Chapelle Memorial in France

Chief of the Army Staff (COAS) General Upendra Dwivedi has laid a wreath at the war memorial in Neuve-Chapelle, France, honouring the supreme sacrifice of Indian soldiers who fought during World War I.

The memorial stands as a powerful symbol of India’s long-standing commitment to global peace, serving as a poignant tribute to the fallen soldiers and a reminder of their enduring bravery.

The Neuve-Chapelle Memorial commemorates the Indian soldiers who fought alongside Allied forces in the First World War, particularly during the Battle of Neuve-Chapelle in 1915.

Exp. Mizoram launches Women Entrepreneurship Platform, first in NE

Mizoram chief minister Lalduhoma has launched the Mizoram chapter of Women Entrepreneurship Platform (WEP), the first such platform in the Northeast under NITI Aayog.

The launch, held during a state workshop on women-led development through entrepreneurship at Mizoram University (MZU) at Tanhril near Aizawl under the initiative of the NITI Aayog state support mission, was attended by NITI Aayog member Dr VK Paul.

This initiative aims to strengthen regional support for women entrepreneurs by providing resources, mentorship, and business opportunities.

About Mizoram

• Formation – 20 February 1987
• Capital – Aizawl
• Chief Minister – Lalduhoma
• Governor – General V. K. Singh