Current Affairs Quiz 4th March 2025 Quiz

Exp. UPI posts 5% dip in volume to 16.11 billion, 7% in value in February

Unified Payments Interface (UPI) transactions saw a 5 per cent month-on-month dip in volume to 16.11 billion in February, from 16.99 billion in January, owing to fewer days in the month.

Similarly, the value also declined 6.5 per cent to Rs 21.48 trillion in February, compared to Rs 23.48 trillion in January.

This is compared to 16.73 billion in volume and Rs 23.25 trillion in value in December. However, this was a 33 per cent rise in volume and 20 per cent in value compared to February 2024, said data from the National Payments Corporation of India (NPCI).

Immediate Payment Service (IMPS) transactions were 9 per cent down in February to 405 million as against 444 million in January. In value terms, too, it was down by 7 per cent to Rs 5.63 trillion in February versus Rs 6.06 trillion in January.

In December, this was seen at 441 million in volume and Rs 6.02 trillion in value. In volume terms, this was a 24 per cent decline, and in value terms, a 1 per cent dip compared to February 2024.

FASTag transactions increased by 1 per cent to 384 million during the month, compared to 380 million in January and 382 million in December. The value dipped marginally to Rs 6,601 crore in February versus Rs 6,614 crore in January.

Aadhaar Enabled Payment System (AePS) transactions were seen as flat at 94 million in February. However, in value terms, this was up by 2 per cent, from Rs 24,026 crore in January to Rs 24,410 crore in February. This was compared to Rs 24,020 crore in December.

Exp. CUB-CSK co-branded credit card launched with sports and lifestyle perks

City Union Bank Ltd, an old private sector bank, has partnered with Chennai Super Kings (CSK) to launch a co-branded credit card.

The CUB-CSK Co-Branded Credit Card will be available in three variants – MasterCard, Platinum, and Signature Powered by MasterCard and RuPay, the card promises global acceptance, top-notch security, and contactless payment options.

These cards go beyond just ticket purchases. While the initial focus will be on sports-related perks for the first two to three months, we will introduce additional rewards to encourage everyday spending.

The co-branded card’s initial focus will be existing customers across savings accounts, current accounts, term deposits, and loan portfolios. However, it will also be extended to new customers through a fully digital onboarding process.

Exp. Donald Trump declared English as official language of United States

US President Donald Trump signed an executive order designating English as the official language of the United States.

The order rescinds a policy introduced by former President Bill Clinton that required federal agencies and organisations receiving government funding to offer language assistance to non-English speakers.

The move aligns with a long-standing campaign promise by Trump and reflects efforts by lawmakers who have attempted for decades to pass similar legislation. More than 30 states have already declared English their official language.

Exp. Tesla to open India’s first showroom at Maker Maxity in BKC Mumbai

Elon Musk’s automotive company Tesla has finalized its showroom space in Mumbai’s Maker Maxity, a mixed-use development located in the Bandra Kurla Complex, at a monthly rent of around ₹35 lakh.

The car showroom space spread across an area of around 3000 sq ft is located on the ground floor of the commercial tower in Maker Maxity and the rent is around ₹35 lakh per month.

BKC is the country’s most expensive commercial real estate hub .

Exp. Manan Kumar Mishra re-elected as Chairman of Bar Council of India

Senior Advocate Manan Kumar Mishra has been re-elected chairman of the Bar Council of India (BCI) for the seventh consecutive term. He was elected unopposed.

Mishra is a Rajya Sabha member from Bihar and represents the Bharatiya Janata Party (BJP).

About Bar Council of India (BCI)

• BCI is a statutory body established under the Advocates Act of 1961, responsible for regulating the legal profession and education in India.
• Headquarters – New Delhi

Recent Appointments

• Chairman of Ratan Tata Endowment Foundation – N Chandrasekaran
• Head of Drug Controller General of India (DCGI) – Rajeev Singh Raghuvanshi (extension one year)
• CEO of NITI Aayog – B V R Subrahmanyam (extension one year)
• Managing Partner and Global Head of Wipro Consulting – Amit Kumar
• Chief Election Commissioner (CEC) – Gyanesh Kumar;26th (replace Rajiv Kumar).

Exp. Economic Affairs Secretary Ajay Seth gets additional charge of Revenue Department

Economic Affairs Secretary Ajay Seth was given additional charge of the post of Secretary, Department of Revenue.

The vacancy was necessitated following the appointment of Revenue Secretary Tuhin Kanta Pandey as the chairman of the Securities and Exchange Board of India (SEBI).

The competent authority has approved the assignment of the additional charge of the secretary of the Department of Revenue to Ajay Seth, secretary of the Department of Economic Affairs till the appointment of a regular incumbent.

Other Important Secretaries

• Principal Secretary to PM – PK Mishra (I) & Shaktikanta Das (II)
• Secretary in Department of Investment and Public Asset Management (DIPAM) – Arunish Chawla
• Ministry of Corporate Affairs Secretary – Deepti Gaur Mukherjee
• Foreign Secretary – Vikram Misri
• Home Secretary – Govind Mohan
• Cabinet Secretary – T V Somanathan
• Secretary of DPIIT – Amardeep Singh Bhatia
• Expenditure Secretary – Manoj Govil
• Defence Secretary – Rajesh Kumar Singh
• Economic Affairs Secretary – Ajay Seth
• MoSPI Secretary – G. P. Samanta

Exp. SEBI permits all NBFCs, HFCs to invest in security receipts by ARCs

Markets regulator SEBI has allowed all non-banking financial

companies (NBFC), including housing finance companies, to invest in security receipts issued by Asset Reconstruction Companies (ARCs), a move aimed at encouraging investments in the bad loans space.

This has widened the scope of participants who can acquire security receipts from ARCs, thereby boosting liquidity in the distressed asset market.

ARCs are set-up to acquire bad loans from banks and financial institutions after appropriate haircuts and issue security receipts (SRs).

This comes with safeguards to avert defaulting promoters from claiming back the secured assets through SRs.

Sebi said that such “NBFCs including HFCs will have to ensure that the defaulting promoters or their related parties do not directly or indirectly gain access to secured assets through security receipts; and such NBFCs including HFCs shall comply with such other conditions as the RBI may specify from time to time”.

As per the SARFAESI Act, only qualified buyers can invest in security receipts.

Exp. ICC chairman Jay Shah conferred with Icon of Excellence award at FILA 2025

Jay Shah, chairman of the International Cricket Council (ICC), has been honoured with the prestigious Icon of Excellence award at the 14th edition of the Forbes India Leadership Awards (FILA 2025).

This award recognises his exceptional contributions to cricket administration and his role in driving innovation and inclusivity in the sport.

Under his leadership, cricket has witnessed a remarkable transformation, making the game more accessible and globally competitive.

At the age of 36, Jay Shah made history by becoming the youngest-ever chairman of the ICC.

About International Cricket Council (ICC)

• The International Cricket Council is the global governing body of cricket.
• Formation – 15 June 1909
• Headquarters – Dubai, UAE
• Chairman – Jay Shah (replace Greg Barclay)
• Deputy Chairman – Imran Khwaja (Singapore)
• CEO – Geoff Allardice (Australia)
• General Manager – Wasim Khan
• Membership – 108 members

Exp. Tennis: Brandon Holt wins Bengaluru Open Title, Beats Shintaro Mochizuki in Final

In tennis, Brandon Holt of the USA clinched his second ATP Challenger singles title of the season after beating Japan’s Shintaro Mochizuki 6-3, 6-3 in the Bengaluru Open 2025 tennis tournament’s singles final.

Consequently, the 26-year-old Holt became the first American winner in the Bengaluru Open history.

This was the ninth edition of the ATP Challenger 125 tennis tournament. Indian tennis player Anirudh Chandrasekar and Chinese Taipei’s Ray Ho beat Blake Bayldon and Matthew Christopher Romios 6-2, 6-4 to win the doubles title.

Exp. Kohli becomes seventh Indian player to play 300 ODIs

One of India’s greatest cricketers,Virat Kohli has reached a historic milestone. During the Champions Trophy match against New Zealand in Dubai, he played his 300th One Day International (ODI) match.

With this achievement, Kohli became the seventh Indian and 22nd player in the world to reach this milestone.

The list is led by Sachin Tendulkar, who played 463 matches, followed by MS Dhoni with 347 matches.  

Exp. Vidarbha clinch third title of Ranji Trophy

The 90th edition of the Ranji Trophy has concluded with Vidarbha lifting their third title, as they finished the final against Kerala with a draw at the VCA Stadium in Jamtha, Nagpur.

Vidarbha took the first innings lead and hence was declared the champions for this year.

The Ranji Trophy, India’s premier red-ball cricket competition, was first introduced in the 1934-35 season under the name “Cricket Championship of India” before it was renamed the following year.

The inaugural champions were Bombay, who have since dominated the tournament with a remarkable 42 titles, the latest of which came last year when they triumphed over Vidarbha in the final at the Wankhede Stadium in Mumbai. Karnataka, previously known as Mysore, holds the second-highest number of titles with eight.

Vidarbha made their debut in the Ranji Trophy final during the 2017-18 season, when they defeated Delhi, and then successfully defended their title the next year against Saurashtra.  

Exp. Magma GI partners with Hyundai India Insurance Broking for vehicle coverage

Magma General Insurance Limited (Magma) has forged a strategic alliance with Hyundai India Insurance Broking Pvt. Ltd. (HIIB) to enhance motor insurance accessibility across the country.

Under this collaboration, HIIB will offer Magma’s motor insurance policies for private and commercial passenger vehicles through its extensive network of 600+ dealerships across India.

This partnership is aimed at providing vehicle owners with comprehensive insurance coverage against risks such as accidents, theft, natural calamities, and third-party liabilities. By joining forces, both companies seek to deliver seamless, cost-effective, and easily accessible insurance solutions to customers nationwide.

MD and CEO of Magma General Insurance – Rajive Kumaraswami

Recent MoUs Signed in Banking Sector

• TCS extends partnership with Norway’s DNB Bank ASA for 5 years
• 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. NITI Aayog launches report on “From Borrowers To Builders: Women’s Role in India’s Financial Growth Story”

NITI Aayog released a report called “From Borrowers to Builders: Women’s Role in India’s Financial Growth Story.”

The report, launched by NITI Aayog CEO Shri B.V.R. Subrahmanyam, shows that more women in India are taking loans and checking their credit scores.

By December 2024, 27 million women were monitoring their credit, which is 42% more than the previous year. This increase shows that women are becoming more aware of financial matters.

The report was prepared by TransUnion CIBIL, NITI Aayog’s Women Entrepreneurship Platform (WEP), and MicroSave Consulting (MSC).

The percentage of women checking their credit reports increased from 17.89% in 2023 to 19.43% in 2024. Women in non-metro areas are becoming more financially active, with 48% growth, compared to 30% growth in metro cities.

Maharashtra, Tamil Nadu, Karnataka, Uttar Pradesh, and Telangana accounted for 49% of all women self-monitoring credit, with the southern region leading at 10.2 million women.

Northern and central states like Rajasthan, Uttar Pradesh, and Madhya Pradesh have shown the highest growth in active women borrowers.

Since 2019, women’s share of business loans has increased by 14%, and their share of gold loans has grown by 6%. By December 2024, women made up 35% of business borrowers.

Exp. 3 March – World Hearing Day

World Hearing Day is observed every year on March 3rd to raise awareness about hearing loss, ear health, and the importance of early intervention.

Theme 2025 – Changing mindsets: empower yourself to make ear and hearing care a reality for all

The World Health Organization (WHO) leads this global initiative to promote hearing care and prevent deafness

Exp. 4 March – National Safety Day

National Safety Day is observed every year on March 4th in India to promote awareness about workplace safety, health, and environmental protection.

Theme 2025 – Safety & Well-being Crucial for Viksit Bharat” (Developed India)

It marks the foundation day of the National Safety Council (NSC), which was established in 1966 by the Ministry of Labour and Employment, Government of India.

Exp. The 97th Academy Awards took place at the Dolby Theatre in Los Angele

All eyes were on Jacques Audiard’s audacious musical Emilia Perez as it was leading with 13 nominations. But it was the night for Sean Baker’s Anora.

The film took home five Oscars including Best Actress, Best Director, Best Film, Best Original Screenplay and Best Film Editing.