IMPORTANT DAYS

World Consumer Rights Day 2025 celebrated on March 15.

• World Consumer Rights Day is celebrated every year on March 15 to highlight the importance of consumer rights and protection.

• The theme for World Consumer Rights Day 2025 is ‘A Just Transition to Sustainable Lifestyles.’

• The day serves as an opportunity to promote and protect the fundamental rights of consumers.

• First observed in 1983, it aims to raise awareness and encourage respect for consumer rights.

• This theme emphasizes the need for accessible, affordable, and sustainable lifestyle choices for all consumers.

• The campaign this year focuses on achieving sustainable lifestyles and calls for stronger consumer protection and empowerment globally.

• The Consumer Protection Act, 2019, establishes a three-tier quasi-judicial system at District, State, and Central levels, known as “Consumer Commissions,” to safeguard consumer rights.

SUMMIT AND CONFERENCE

South Africa to Host First G20 Trade and Investment Working Group Meeting

• South Africa will host the inaugural G20 Trade and Investment Working Group (TIWG) meeting from March 18 to March 20, 2025.

• The meeting will bring together senior officials from G20 member countries, the European Union, and the African Union.

• This is the first of four planned TIWG meetings during South Africa’s G20 presidency.

• Key international organizations, including the World Trade Organization, United Nations Conference on Trade and Development, Organisation for Economic Cooperation and Development, and African regional communities, will attend.

• South Africa has taken over the G20 presidency for 2025, with the theme “Solidarity, Equality, Sustainability.”

India Participates in 69th UN Commission on Status of Women

• A delegation from the Government of India, led by Annpurna Devi, participated in the 69th session of the UN Commission on the Status of Women (CSW).

• The session focused on promoting gender equality, women’s rights, and empowerment.

• Annpurna Devi, Union Minister for Women and Child Development (WCD), emphasized India’s progress on gender equality.

• She highlighted the transformative effects of India’s flagship schemes aimed at improving health, nutrition, education, and economic opportunities for women and children.

• The session, held from March 10-21, was a functional commission of the UN Economic and Social Council (ECOSOC).

• Participants included UN member states, intergovernmental organizations, the private sector, philanthropists, academia, civil society, women’s collectives, and UN agencies.

STATE NEWS

Amit Shah's Visit to Assam and Mizoram

• On March 14, 2025, Union Home Minister Amit Shah visited the town of Golaghat in Assam.

• During the visit, he officially opened the Lachit Barphukan Police Academy in Dergaon, located in the Golaghat district.

• He also laid the foundation for several new police housing projects aimed at improving law enforcement infrastructure in the region.

• The event was attended by Assam Chief Minister Himanta Biswa Sarma and Union Minister Sarbananda Sonowal.

• After his Assam visit, Shah is set to travel to Mizoram, where he will attend a significant event marking the relocation of the Assam Rifles base.

• The base is being shifted from Aizawl to Zokhawsang, responding to a long-standing demand from the Mizo community, which dates back to 1988.

• A formal agreement for the relocation was signed in October 2024, and the relocation process is expected to be completed by April 2025.

• On March 16, 2025, Shah will also address the 57th Annual Conference of the All Bodo Students Union in Dotma, Kokrajhar, Assam.

• In addition, he is scheduled to meet with the Chief Ministers of the eight North Eastern states to discuss regional matters.

DEFENCE

India-Bangladesh Joint Naval Exercise: Bongosagar 2025

• India and Bangladesh conducted the Bongosagar 2025 joint naval exercise in the Bay of Bengal to enhance interoperability.

• INS Ranvir represented the Indian Navy, while Bangladesh Navy’s BNS Abu Ubaidah participated in the exercise.

• The exercise involved surface firing, tactical maneuvers, and underway replenishment operations.

• Bongosagar 2025 provided both navies a platform to strengthen tactical planning, coordination, and collaboration for seamless maritime operations.

• The first Bongosagar exercise took place in 2019, with the fourth edition, Bongosagar 23, held in November 2023.

AWARDS

Muthoot Microfin Wins Double Gold at SKOCH Awards 2025

• Muthoot Microfin secured two prestigious Gold Awards at the SKOCH Awards 2025.

• The awards were presented to Sadaf Saeed, CEO of Muthoot Microfin, by Sameer Kochhar, Chairman of the Skoch Group, in New Delhi.

• Muthoot Microfin was recognized for its contributions to digital financial inclusion and insurance solutions.

• Corporate Excellence Award: “Best Customer Application on Digital Financial Inclusion” for the Mahila Mitra initiative.

• Mahila Mitra, with 1.73 million downloads and a 4.2-star rating, has revolutionized access to financial services for rural women, making digital transactions seamless and secure.

• BFSI Award: “Best Insurance Plan” for the Griha Raksha Insurance Plan, benefiting 2.66 million people.

• This award highlights Muthoot Microfin’s dedication to providing financial security and empowering communities.

NATIONAL NEWS

India Becomes Top Source of FDI in Dubai for 2024

• India has emerged as the leading source of Foreign Direct Investment (FDI) in Dubai for 2024, surpassing the US, France, and the UK.

• Dubai has retained its position as the world’s top destination for greenfield FDI projects for the fourth consecutive year, according to Financial Times Ltd.'s 'FDI Markets' data.

• India contributed 21.5% to Dubai’s FDI inflows, followed by the US (13.7%), France (11%), the UK (10%), and Switzerland (6.9%).

• Dubai attracted a record 1,117 greenfield FDI projects in 2024, the highest ever in its history.

• The city also saw 1,826 announced FDI projects, marking an 11% increase from 2023.

• FDI-driven job creation reached 58,680 in 2024, a 31% rise from 44,745 jobs in 2023.

SCIENCE AND TECHNOLOGY

SpaceX & NASA Launch Crew-10 Mission to ISS

• SpaceX and NASA launched the Crew-10 mission to bring astronauts Sunita Williams and Butch Wilmore back from the ISS.

• The mission lifted off with a Falcon 9 rocket carrying a Dragon spacecraft.

• The Crew-10 mission also delivered four new crew members to the ISS: NASA astronauts Anne McClain and Nichole Ayers, JAXA astronaut Takuya Onishi, and Roscosmos astronaut Kirill Peskov.

• This marks the 10th crew rotation mission under SpaceX’s human space transportation system.

• Sunita Williams and Butch Wilmore had been on the ISS for nine months, delayed by helium leaks and thruster issues during their journey to the space station.

BANKING ECONOMY AND FINANCE

India’s Foreign Exchange Reserves Surpass $653 Billion

• India’s foreign exchange reserves surged by $15.26 billion, reaching a total of $653.96 billion.

• Foreign currency assets, a key component of the reserves, rose by over $13.93 billion, reaching $557.28 billion.

• Gold reserves increased by $1 billion, now totaling over $74.32 billion.

• Special Drawing Rights (SDRs) grew by $212 million, bringing the total to $18.21 billion.

Moody’s Projects India’s GDP Growth to Exceed 6.5% in FY26

• Moody’s Ratings forecasts India’s GDP growth will exceed 6.5% in FY26, according to its latest Banking System Outlook – India report.

• The report anticipates India’s economy will recover from its cyclical slowdown.

• Tax relief under the new tax regime is expected to boost consumption and drive economic growth.

• The Finance Ministry's Economic Survey predicts GDP growth will range from 6.3% to 6.8% in the next fiscal year.

• India’s real GDP growth slowed to 5.6% in the July-September 2024 quarter.

• Loan growth in the banking sector is projected to moderate to 11-13% in FY26.

• Moody’s expects India’s average inflation rate to drop to 4.5% in FY26, down from 4.8% in the previous fiscal year.