Current Affairs Quiz 21st March 2025 Quiz

Exp. Sikkim Government imposes a tourist fee of Rs 50 per person

The Prem Singh Tamang government in Sikkim has imposed Rs 50 as entry fee for tourists entering the state. The fees have been introduced under the provisions of the Sikkim Registration of Tourist Trade Rules, 2025.

The Rs 50 person fees will be paid by tourists visiting the state and will be valid for a stay upto 30 days. If the tourist again visits the state after 30 days then they will again have to pay the fees of Rs 50 per person.

Children below five years old and visiting government officials on official duties are exempted from the fees.

The tourist fees will be collected by the hotels where the tourist is checking in. The fees will be deposited by the hotels into the state tourism account every week. The fees collected from the tourist will be deposited into the Tourism Sustainability Development Fund of the Sikkim government.

About Sikkim

• Capital – Gangtok
• Chief Minister – Prem Singh Tamang (2^nd time)
• Governor – Om Prakash Mathur

Exp. Australian GP 2025: Mclaren’s Norris wins F1 season opener

McLaren’s Lando Norris won the 2025 Australian Grand Prix, the season-opening race at Albert Park, beating Red Bull’s Max Verstappen by 0.811 seconds in a dramatic wet-dry race, marking his fifth career win and establishing an early lead in the drivers’ championship.

Max Verstappen of Red Bull finished second, unable to challenge Norris’s pace despite a late surge, while Mercedes’ George Russell took third place, capitalizing on a clean race amidst chaotic conditions to secure a podium spot.

Exp. Flipkart’s super.money Rises to Fifth Place in UPI Market, Overtaking CRED

Flipkart Group’s payment app, super.money, has risen to become the fifth-largest UPI player, surpassing Kunal Shah-led CRED in February 2025. This reshuffling in the rankings reflects the increasing competition in the digital payments ecosystem.

According to the National Payments Corporation of India (NPCI), Flipkart‘s super.money recorded approximately 139 million UPI transactions in February, overtaking CRED, which saw its transaction volume remain stagnant at around 130 million for the past year.

Meanwhile, Navi, a fintech and credit platform founded by Sachin Bansal, secured the fourth position in November 2024 and further solidified its standing with 261 million UPI transactions in February.

This development underscores the growing influence of new-age fintech players in a sector long dominated by market leaders PhonePe and Google Pay.

The influx of these platforms has begun to fragment the market, chipping away at the share of established giants.

Exp. AFMS, NIMHANS sign MoU to boost mental health support for military personnel & families

The Armed Forces Medical Services – AFMS and the National Institute of Mental Health and Neurosciences – NIMHANS have signed a Memorandum of Understanding – MoU to collaborate on research, training, and specialized mental health support for military personnel and their families.

The collaboration between AFMS and NIMHANS will focus on strengthening mental health services, conducting specialized training for medical personnel, and developing innovative programs to address the mental health issues faced by Soldiers, Sailors, Airmen, their families and dependants.

Exp. Annual Conference on Anti-Doping Science to spread awareness

Union Minister of Youth Affairs and Sports Dr Mansukh Mandaviya has inaugurated the National Dope Testing Laboratory Annual Conference-2025 in New Delhi.

The theme for the annual conference is Anti-Doping Science: Innovations and Challenges.

The event provided a vital platform for scientists, coaches, physical education professionals, sports federations, and students to engage in insightful discussions on the latest advancements and challenges in anti-doping science.

Exp. DPIIT and YES BANK Partner to Strengthen India’s Startup Ecosystem

The Department for Promotion of Industry and Internal Trade (DPIIT) has signed an MoU with YES BANK. This collaboration aims to foster innovation and provide crucial support to product startups, innovators, and entrepreneurs across the country.

The partnership will leverage DPIIT’s Startup India initiative and YES BANK’s financial expertise to facilitate market linkages, funding access, mentorship, and infrastructure support for early-stage ventures.

Startups will benefit from YES BANK’s Head Startup program, which offers tailored banking and financial solutions, including working capital, credit access, and, cash flow management. Additionally, they will gain access to YES BANK’s extensive network, strategic partnerships, and industry expertise, enabling them to scale operations and attract investments effectively.

Exp. DPIIT and Kyndryl Partner to Drive Innovation in India’s Manufacturing and IT Startup Ecosystem

The Department for Promotion of Industry and Internal Trade (DPIIT) has signed an MoU with Kyndryl Solutions Pvt Ltd to accelerate innovation and scale India’s startup ecosystem.

The partnership will focus on supporting startups in the manufacturing and IT sectors by leveraging Kyndryl’s expertise in digital transformation and Generative AI solutions.

Under this partnership, startups will be empowered through mentorship, infrastructure support, and market access, enabling them to integrate their solutions into enterprise ecosystems across industries such as automotive, pharmaceuticals, BFSI, oil & gas, and government services.

Exp. DAC Approves ₹54,000 Crore Defence Deals to Boost India’s Military Might

The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, approved eight capital acquisition proposals worth over ₹54,000 crore to strengthen the operational capabilities of India’s defence forces.

As part of designating 2025 as the ‘Year of Reforms’, the DAC approved guidelines to streamline the Capital Acquisition Process, reducing timelines to make it faster, more effective, and efficient.

For the Indian Army, the DAC greenlit the procurement of 1350 HP engines to upgrade the existing 1000 HP engines of T-90 tanks, improving battlefield mobility, particularly in high-altitude areas, by enhancing the power-to-weight ratio.

The DAC also approved the acquisition of Airborne Early Warning & Control (AEW&C) Aircraft Systems for the Indian Air Force, which are expected to revolutionize warfare by significantly increasing the combat potential of other weapon systems.

Exp. SEBI Slashes Minimum Investment in Social Stock Exchange to ₹1,000

The Securities and Exchange Board of India (SEBI) has reduced the minimum investment amount for Zero Coupon Zero Principal (ZCZP) instruments on the Social Stock Exchange (SSE) from ₹10,000 to ₹1,000, effective March 20, 2025.

This decision aims to boost retail investor participation in social impact investing, making it more accessible for individuals to support non-profit organizations listed on the SSE.

The reduction follows recommendations from the Social Stock Exchange Advisory Committee and public feedback on a consultation paper, reflecting SEBI’s intent to enhance funding for social enterprises in sectors like education and healthcare.

ZCZP instruments allow investors to donate to social causes without expecting financial returns, and the lowered threshold is expected to increase the flow of funds to these initiatives.

About Securities and Exchange Board of India (SEBI)

• Founded – 12 April 1988
• Act – 1992
• Headquarters – Mumbai
• Chairman – Tuhin Kanta Pandey (replace Madhabi Puri Buch)
• Executive Director – G Ram Mohan Rao
• SEBI Set up – Uday Kotak committee

Exp. SEBI Partners with DigiLocker to Tackle Unclaimed Assets in Securities Market

The Securities and Exchange Board of India (SEBI) has partnered with DigiLocker, a government-backed digital document storage platform, to reduce unclaimed assets in the Indian securities market and enhance investor protection.

This collaboration allows investors to securely store and access their demat account holdings, mutual fund statements, and consolidated account statements (CAS) through DigiLocker, effective from April 1, 2025.

SEBI aims to address issues like dormant accounts and outdated contact or bank details by integrating DigiLocker, which will help streamline the transmission of assets and reduce unclaimed financial assets.

KYC Registration Agencies (KRAs) will share information about investor deaths with DigiLocker, triggering automatic notifications to nominated individuals to facilitate the asset transfer process.

SEBI has directed asset management companies (AMCs), registrars and transfer agents (RTAs), and depositories to register with DigiLocker as issuers, ensuring seamless access to financial documents for investors.

The initiative builds on DigiLocker’s existing services—such as storing bank statements, insurance policies, and National Pension System details—expanding its role as a centralized platform for managing financial information.

Exp. RBI Names Indranil Bhattacharyya as New Executive Director

The Reserve Bank of India (RBI) has appointed Indranil Bhattacharyya as an Executive Director to strengthen its leadership team.

In his new role, Bhattacharyya will oversee critical areas such as the Department of Statistics and Information Management and the FinTech Department, leveraging his extensive experience within the RBI.

Prior to this appointment, Bhattacharyya served as the Chief General Manager in the Monetary Policy Department, contributing significantly to monetary policy formulation and implementation.

Recent Appointment in Banking & Insurance Sector

• Chief Executive of Indian Banks’ Association (IBA) – Atul Kumar Goel
• MD and CEO of IndusInd Bank Ltd – Sumant Kathpalia (reappointment for one year)
• ED of RBI – Ajit Ratnakar ( of Statistics and Information Management and Financial Stability Dept)
• President & Head of Branch Banking and Retail Liabilities – Narendra Agrawal
• Chief Operations Officer (COO) of RBL Bank – T S Pari

Exp. Mythili Balasubramanian Named Interim MD & CEO of Edelweiss ARC

Edelweiss Asset Reconstruction Company (EARC) has appointed Mythili Balasubramanian as its Interim Managing Director and Chief Executive Officer, with approval from the Reserve Bank of India (RBI).

Balasubramanian, who has been with EARC for nearly five years, brings over four decades of experience in banking, non-performing asset (NPA) resolution, and Insolvency and Bankruptcy Code (IBC) processes to lead the company until September 30, 2025.

The appointment follows the RBI’s rejection of reappointing the previous MD and CEO, Raj Kumar Bansal, in June 2024, prompting EARC to form a Search Committee, supported by Korn Ferry, to identify a permanent successor.

Exp. Deena Mehta Re-Appointed as Independent Director of Fino Payments Bank

Fino Payments Bank’s Board of Directors has re-appointed Deena Mehta as an Additional Director in the capacity of Independent Director for a second term.

Mehta has over four decades of experience in capital markets, contributing to key reforms such as the BOLT system at BSE, the Central Depository Service, and the streamlining of Clearing Corporation BOISL.

She served on the BSE Board for nine years, including as Vice President and President. She has been part of various SEBI committees for 21 years, contributing to multiple market reforms. She is a founding member of SAFE, the Association of Stock Exchanges of SAARC countries.

Exp. World Happiness Report 2025: Topped by Finland; India at 118th spot

Finland has been named the happiest country in the world for the eighth consecutive year in the World Happiness Report 2025. The Nordic countries continue to dominate the top positions, with Denmark, Iceland, Sweden, and Netherlandss maintaining their respective rankings in the top five spots.

For the eighth year in a row, Finland secured the top spot, with its citizens reporting an average life satisfaction score of 7.74 on a scale of 1 to 10, reported the Fortune.

The rankings were determined through self-evaluation surveys where individuals rated their own lives. The research was conducted collaboratively by the Wellbeing Research Centre at the University of Oxford, alongside Gallup and the UN Sustainable Development Solutions Network.

The United States has dropped to its lowest-ever position at 24th place, attributed to a rise in social isolation, with 25% of Americans reporting eating all meals alone in 2023, signaling a loneliness epidemic.

India ranks 118th out of 147 countries, showing a slight improvement from its 126th position in the previous year, though it remains behind nations like Nepal, Pakistan, and Ukraine.

Afghanistan remains the unhappiest country, with conditions particularly dire for women, while the report emphasizes that wealth alone does not guarantee happiness, as seen in the U.S.’s decline despite its economic status.

Exp. RBI organises Annual Conference of the RBI Ombudsmen

The Reserve Bank of India (RBI) has organised the Annual Conference of RBI Ombudsmen in Mumbai.

The theme of the Conference was “Transforming Grievance Redress: The AI Advantage”.

Sanjay Malhotra, Governor, inaugurated the Conference in the presence of the Deputy Governor, Shri Swaminathan J., Executive Directors of RBI and participants of the conference.

About Reserve Bank of India (RBI)

• Founded – 1 April 1935
• RBI Nationalized – 1 January 1949
• Headquarters – Mumbai, Maharashtra
• RBI set up – Hilton Young Commission
• 1st Governor – Sir Osborne Smith (Australia)
• 1st Indian Governor – CD Deshmukh
• 26th Governor – Sanjay Malhotra (replace Shaktikanta Das)