Daily Current Affairs March 17

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March 17 | Daily Current Affairs 2024

Important Days – Daily Current Affairs March 17

1. What was the primary reason for establishing National Vaccination Day in India?
A) To promote the COVID-19 vaccination campaign.
B) To commemorate the launch of the Pulse Polio Immunisation Programme.
C) To encourage private-sector investment in healthcare.
D) To recognize healthcare workers’ contributions during pandemics.
E) To introduce new vaccine technologies in India.
Answer: B) To commemorate the launch of the Pulse Polio Immunisation Programme.

Event and Location:

• Event: National Vaccination Day 2025.
• Date: March 16, 2025.
• Location: Observed across India.
• Why in News: Observed on March 16 to highlight the importance of immunisation in public health.

History of National Vaccination Day:

• Established Year: 1995.
• Significance: Marks the first administration of the oral polio vaccine under the Pulse Polio Immunisation Programme.

Event and Location:

India’s Success in Polio Eradication:

• Polio-Free Status: India was declared polio-free by WHO in 2014.
• Support: WHO, UNICEF, and the Government of India played a crucial role in vaccination drives.

Significance of National Vaccination Day:

• Awareness on Vaccination: Educates citizens on vaccine-preventable diseases like measles, tetanus, tuberculosis, and hepatitis.
• Honoring Healthcare Workers: Recognizes the efforts of doctors, nurses, ASHA workers, and Anganwadi workers.
• Community Participation: Encourages mass participation to improve vaccination coverage and herd immunity.

Impact of Vaccination in India:

• Polio Eradication: Successfully eliminated polio cases by 2014.
• Disease Reduction: Sharp decline in cases of measles, diphtheria, tetanus, and hepatitis.
• Healthcare Infrastructure: Improved vaccine distribution, cold storage, and digital health records.

Key Vaccination Initiatives:

• Mission Indradhanush: Launched in 2014 to achieve 90% full immunisation for children and pregnant women.
• Universal Immunisation Programme (UIP): Provides free vaccines against 12 life-threatening diseases.
• COVID-19 Vaccination Drive: One of the world’s largest vaccination programs using Covaxin, Covishield, and Corbevax.

Challenges in Immunisation:

• Vaccine Hesitancy: Misinformation and myths reduce vaccine acceptance.
• Access in Remote Areas: Lack of infrastructure affects vaccine delivery in tribal and mountainous regions.
• Missed Booster Doses: Many individuals fail to take follow-up vaccine doses.

Way Forward:

• Awareness Campaigns: Strengthening public outreach to counter misinformation.
• Mobile Clinics & Technology: Expanding vaccine access in hard-to-reach areas.
• Digital Tracking: Ensuring follow-up on booster doses through digital records.

Important Terms Explained:

• Pulse Polio Immunisation Programme:
  • Launched in 1995 to eliminate polio through mass vaccination.
  • Conducted nationwide door-to-door campaigns to ensure complete coverage.
• Mission Indradhanush:
  • Launched in 2014 to achieve 90% immunisation coverage for children and pregnant women.
  • Focuses on unreached and partially vaccinated communities.
• Universal Immunisation Programme (UIP):
  • One of the largest vaccination programs globally.
  • Provides free vaccines against 12 life-threatening diseases.

Tabular Summary:

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Sports – Daily Current Affairs March 17

2. In which sport did India win the highest number of medals at the Special Olympics World Winter Games 2025?
A) Floorball
B) Cross Country Skiing
C) Snowshoeing
D) Short Track Speed Skating
E) Snowboarding
Answer: C) Snowshoeing

Event and Location:

• Event: Special Olympics World Winter Games 2025.
• Date: 2025.
• Location: Turin, Italy.
• Why in News: India won 33 medals at the Special Olympics World Winter Games 2025.

Total Medals Won:

• Gold Medals: 8.
• Silver Medals: 18.
• Bronze Medals: 7.
• Total: 33 medals.
• Medals on Final Day: India secured 12 more medals on the last day of the event.

Top Performances:

• Snowshoeing: India won 10 medals in this sport.
  • Silver Medals: Vasu Tiwari, Shalini Chauhan, and Tanya (25m Snowshoeing).
  • Bronze Medal: Jahangir (25m Snowshoeing).
• Alpine Skiing: India secured 10 medals in this category.
  • Silver Medals: Radha Devi (Intermediate Slalom F01), Nirmala Devi (Intermediate Slalom F04), Abhishek Kumar (Novice Slalom M02).
• Cross Country Skiing: India won 2 medals in this event.
  • Bronze Medal: Akriti (100m Classical Technique, F02).
  • Floorball: India’s Women’s Traditional Team won 1 bronze medal.

Final Medal Tally by Sport:

• Snowshoeing: 10 medals.
• Alpine Skiing: 10 medals.
• Snowboarding: 6 medals.
• Short Track Speed Skating: 4 medals.
• Cross Country Skiing: 2 medals.
• Floorball: 1 medal.

Important Terms Explained:

• Special Olympics World Winter Games:
  • An international sporting event for athletes with intellectual disabilities.
  • Features winter sports like skiing, snowboarding, and floorball.
• Snowshoeing:
  • A winter sport where athletes walk or run on snow using special footwear.
  • Requires stamina, strength, and balance.
• Alpine Skiing:
  • A downhill skiing event that tests speed and agility.
  • Includes disciplines like slalom and giant slalom.

Tabular Summary:

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3. Who was the captain of India Masters in the IML 2025 final?
A) MS Dhoni
B) Virender Sehwag
C) Sachin Tendulkar
D) Rahul Dravid
E) Gautam Gambhir
Answer: C) Sachin Tendulkar

Event and Location:

• Event: International Masters League (IML) 2025 Final.
• Date: March 2025.
• Location: SVNS International Stadium.
• Why in News: India Masters won the inaugural IML 2025 by defeating West Indies Masters.
• Match Result: India Masters won by 6 wickets.
• Captains:
  • India Masters: Sachin Tendulkar.
  • West Indies Masters: Brian Lara.
• West Indies Masters’ Innings:
  • Total Score: 148/7 (20 overs).

Top Indian Bowlers:

• Vinay Kumar: 3/26.
• Shahbaz Nadeem: 2/12 (Economy: 3.00).
• Pawan Negi & Stuart Binny: 1 wicket each.
• India Masters’ Chase:
  • Final Score: 149/4 in 17.5 overs.
• Top Batters:
  • Ambati Rayudu: 74 runs off 50 balls (9 fours, 3 sixes).
  • Sachin Tendulkar: 25 runs off 18 balls.
  • Stuart Binny: Finished the match with two sixes.
• Player of the Match: Ambati Rayudu (74 runs, 9 fours, 3 sixes).

IML 2025 Awards:

• Bank of Baroda Masterstroke of the Match: Ambati Rayudu – ₹50,000.
• Most Sixes in the Match: Ambati Rayudu (3 sixes) – ₹50,000.
• Gamechanger of the Match: Shahbaz Nadeem (2/12 in 4 overs).
• Most Economical Bowler: Shahbaz Nadeem (Economy rate of 3.00).

Season Awards:

• Most Fours in the Tournament: Kumar Sangakkara – 38 fours (₹5,00,000).
• Most Sixes in the Tournament: Shane Watson – 25 sixes (₹5,00,000).

IML 2025 Prize Money:

• Winners (India Masters): ₹1 crore (₹10,000,000).
• Runners-up (West Indies Masters): ₹50 lakh (₹5,000,000).

Legacy of IML 2025:

• Nostalgia & Entertainment: Revived cricket legends and their iconic rivalries.
• Fan Engagement: Nearly 50,000 spectators witnessed the final.
• Future Expectations: Fans eagerly anticipate the next edition of IML.

Important Terms Explained:

• International Masters League (IML):
  • A cricket tournament featuring former international legends.
  • Designed to bring back nostalgia and legendary rivalries.
• Most Economical Bowler:
  • The bowler with the lowest runs conceded per over in a match or tournament.

Tabular Summary:

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4. Which team did Hockey Jharkhand defeat to win the 15th Hockey India Senior Women National Championship 2025?
A) Hockey Mizoram
B) Hockey Maharashtra
C) Hockey Haryana
D) Hockey Odisha
E) Hockey Punjab
Answer: C) Hockey Haryana

Event and Location:

• Event: 15th Hockey India Senior Women National Championship 2025.
• Date: March 12, 2025.
• Location: Tau Devi Lal Complex, Panchkula, Haryana.
• Why in News: Hockey Jharkhand won its first-ever Senior Women National Championship title by defeating Hockey Haryana.

Final Match Overview:

• Match Result: Hockey Jharkhand won 4-3 in a penalty shootout after a 1-1 draw in regulation time.
• Hockey Haryana’s Goal: Captain Rani scored in the 42nd minute.
• Hockey Jharkhand’s Equalizer: Pramodni Lakra scored in the 44th minute.
• Penalty Shootout Scores:
  • Hockey Jharkhand: Goals by Rajni Kerketta, Nirali Kujur, Binima Dhan, and Alebla Rani Toppo.
  • Hockey Haryana: Goals by Pinki, Annu, and Manisha.

Tournament Format:

• New Knockout System in Division A:
  • 12 teams divided into four groups.
  • Top teams from each group advanced to quarter-finals.
  • Semi-final winners played in the final.

Participating Teams in Division A:

Road to the Final:

• Semi-Finals:
  • Hockey Haryana defeated Hockey Maharashtra.
  • Hockey Jharkhand defeated Hockey Mizoram.
• Third Place Playoff:
  • Hockey Mizoram defeated Hockey Maharashtra to secure third place.

History of the Hockey India Senior Women National Championship:

• First Edition: 2011.
• Most Successful Team: Indian Railways (8 titles).
• Other Multiple Title Winners:
  • Hockey Haryana: 3 titles.
  • Hockey Madhya Pradesh: 2 titles.
• Previous Champions:
  • 2024 (14th Edition): Hockey Haryana.
  • 2023 (13th Edition): Indian Railways.
  • 2022 (12th Edition): Hockey Madhya Pradesh.

About Hockey India:

• Founded: 2009.
• Headquarters: New Delhi.
• President: Dileep Tirkey.

Important Terms Explained:

• Penalty Shootout in Hockey:
  • A tie-breaking method where players take individual shots against the opposing goalkeeper.
  • Used when matches end in a draw after regulation time.
• Hockey India Senior Women National Championship:
  • Organized annually to promote women’s hockey in India.
  • Features state and institutional teams competing for the national title.

Tabular Summary:

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Obituary – Daily Current Affairs March 17

5. Which of the following works by Ramakanta Rath won the Saraswati Samman?
A) Saptama Ritu
B) Kete Dinara
C) Sri Radha
D) Sandigha Mrigaya
E) Aneka Kothari
Answer: C) Sri Radha

Event and Location:

• Event: Passing of Renowned Odia Poet Ramakanta Rath.
• Date: March 2025.
• Location: Puri, Odisha.
• Why in News: Ramakanta Rath, an eminent Odia poet and former IAS officer, passed away at 90.

Personal Details:

• Born: December 30, 1934.
• Birthplace: Puri district, Odisha.
• Education: MA in English Literature from Ravenshaw College, Cuttack.
• Died: March 2025.

Literary Contributions:

• Poetry Journey: Began writing during college days.
• First Poetry Collection: Kete Dinara (1962).
• Writing Style: Combined prose and lyricism with modern diction.
• Translations: His works have been translated into English and other Indian languages.

Notable Works:

• Saptama Ritu (1977): Won Sahitya Akademi Award (1978).
• Sri Radha (1985): Won Saraswati Samman (1992).
• Sandigha Mrigaya, Aneka Kothari, Sachitra Andhara: Known for deep philosophical themes.

Awards and Honors:

• Sahitya Akademi Award (1978).
• Saraswati Samman (1992).
• Padma Bhushan (2006).
• Atibadi Jagannath Das Award (2018) – Odisha’s highest literary honor.
• State Sahitya Akademi Award, Bishuva Samman, Kabir Samman.

Career in Administration:

• Joined IAS in 1957.
• Served as Chief Secretary of Odisha.
• Secretary to the Government of India.
• Consultant for the Food and Agriculture Organization (FAO) of the United Nations in Guyana.
• Vice-President of Kendriya Sahitya Akademi.
• Honorary Chairman of Odisha Maritime Academy.

Legacy and Tributes:

• Odisha CM Mohan Charan Majhi announced state honors for his last rites.
• Final rites to be conducted at Swargadwara, Puri.
• Credited for bringing Odia literature to national and international recognition.

Important Terms Explained:

• Saraswati Samman:
  • One of India’s highest literary awards, given annually by KK Birla Foundation.
• Sahitya Akademi Award:
  • Awarded by Sahitya Akademi, India’s National Academy of Letters, for outstanding literary works.
• Atibadi Jagannath Das Award:
  • Odisha’s highest literary honor, awarded by the Odisha Sahitya Akademi.

Tabular Summary:

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6. Which ministry was Dr. Debendra Pradhan in charge of during the Atal Bihari Vajpayee government?
A) Finance Ministry
B) Surface Transport Ministry
C) Health Ministry
D) Defence Ministry
E) Home Ministry
Answer: B) Surface Transport Ministry

Event and Location:

• Event: Passing of Veteran BJP Leader Dr. Debendra Pradhan.
• Date: March 2025.
• Location: New Delhi.
• Why in News: Former Union Minister and BJP leader Dr. Debendra Pradhan passed away at 84 years old.

Personal Details:

• Born: July 16, 1941.
• Education: MBBS degree from SCB Medical College, Cuttack (1966).
• Career Start: Medical officer in Talcher before entering politics.

Political Journey:

• Early Political Career:
  • Joined BJP in 1983 and became Talcher Mandal President.
  • Contested Deogarh Lok Sabha seat in 1984, but lost.
  • Became BJP Dhenkanal district president in 1985.
• Leadership in Odisha BJP:
  • Served three consecutive terms as Odisha BJP President (1988-1993, 1995-1997).
  • Played a crucial role in BJP’s expansion in Odisha.
• Electoral Success & Ministerial Roles:
  • Won 1998 Lok Sabha elections from Deogarh and became Union Minister for Surface
• Transport in Atal Bihari Vajpayee’s cabinet.
  • Re-elected in 1999, took additional charge of Agriculture Ministry.
  • Focused on infrastructure modernization and agricultural development.
• Later Political Life & Guidance Role:
  • Served as National Vice President of BJP (2001-2002).
  • Lost 2004 Assembly election from Pallahara, marking the end of his electoral career.
  • Remained a mentor (Marg Darshak) for BJP leaders in Odisha.
• Legacy & Contributions:
  • Strengthened BJP’s presence in Odisha.
  • Played a key role in infrastructure and transport policies.
  • Guided future BJP leaders, including his son, Union Minister Dharmendra Pradhan.

Important Terms Explained:

• Marg Darshak (Mentor):
  • Senior political leaders who provide strategic guidance to party members.
• Atal Bihari Vajpayee Government (1998-2004):
  • BJP-led government that emphasized economic reforms, infrastructure development, and national security.

Tabular Summary:

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Banking and Finance – Daily Current Affairs March 17

7. Which company has become India’s first private reinsurer, breaking GIC Re’s monopoly?
A) Munich Re
B) Swiss Re
C) Lloyd’s of London
D) Valueattics Reinsurance
E) Fairfax India
Answer: D) Valueattics Reinsurance

Event and Location:

• Event and Location: Valueattics Reinsurance received approval from IRDAI to become India’s first private reinsurance company, ending GIC Re’s monopoly since 1972.
• Date: March 12, 2025.
• Location: India.
• About Valueattics Reinsurance:
  • New Private Reinsurer: Valueattics Reinsurance.
• Promoters:
  • Prem Watsa’s Fairfax Financial Holdings (through FAL Corporation).
  • Kamesh Goyal’s Oben Ventures LLP.
• Approval Type: Received “R2” license from IRDAI, allowing it to start operations.
• Initial Paid-up Capital: ₹210 crore.

Current Reinsurance Market in India:

• GIC Re (General Insurance Corporation of India) was the only Indian reinsurer before Valueattics.
• 13 foreign reinsurance branches (FRBs) operate in India, including:
  • Munich Re.
  • Swiss Re.
  • Lloyd’s of London.

Significance of IRDAI’s Approval:

• Introduces competition in the Indian reinsurance market.
• Encourages efficiency and innovation in risk management.
• Expands India’s insurance sector to global standards.

Challenges and Opportunities for Valueattics Reinsurance:

• Challenges:
  • Reinsurance is capital-intensive, requiring strong financial backing.
  • IRDAI-approved credit ratings are essential for credibility.
  • Global expansion will require additional capital infusion.
• Opportunities:
  • Can offer full-spectrum risk coverage through its Go Digit group (general insurance, life insurance, and reinsurance).
  • Can partner with foreign reinsurance players for advanced risk solutions.

GIC Re’s Current Status:

• Holds “first right to refusal” and obligatory cession rights.
• 39% of domestic earnings come from obligatory business.
• 61% of earnings come from non-obligatory business.

IRDAI’s 129th Board Meeting Decisions (March 12, 2025):

1. Approval of Valueattics Reinsurance as India’s first private reinsurer.
2. Review of the Bima Sugam e-marketplace project.
3. Progress on Risk-Based Capital (RBC) and Risk-Based Supervisory Framework.
4. Approval of the 2025-26 IRDAI budget.

Tabular Summary:

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Business and Economy – Daily Current Affairs March 17

8. What was the primary reason behind the sharp increase in India’s forex reserves on March 7, 2025?
A) Increase in gold reserves
B) Rise in Special Drawing Rights (SDRs)
C) $10 billion forex swap by RBI
D) Reduction in import expenses
E) High remittance inflows from NRIs
Answer: C) $10 billion forex swap by RBI

Event and Location:

• Event: Surge in India’s Forex Reserves.
• Date: March 7, 2025.
• Location: India.
• Why in News: India’s foreign exchange reserves saw the sharpest rise in two years, increasing by $15.267 billion to reach $653.966 billion.

Forex Reserves Data (March 7, 2025):

• Total Reserves: $653.966 billion.
• Weekly Increase: $15.267 billion.
• Previous Week’s Reserves: $638.698 billion.
• All-Time High: $704.885 billion (September 2024).

Breakdown of Reserve Components:

Reasons Behind the Surge:

• Forex Swap by RBI: Conducted a $10 billion forex swap on February 28, 2025, injecting liquidity.
• Rupee Stability Measures: Reduction in currency volatility through strategic interventions.
• Revaluation of Foreign Assets: Fluctuations in the dollar, euro, yen, and pound values increased foreign currency assets.

Impact on the Indian Economy:

• Liquidity Boost: Improved cash flow in the financial system.
• Rupee Stability: Strengthened against major currencies.
• Investor Confidence: Attracted foreign investments.
• Import Cover: Enhanced external stability by securing reserves for imports.

Important Terms Explained:

• Forex Reserves:
  • Assets held by a country’s central bank in foreign currencies.
  • Includes foreign currency assets, gold, SDRs, and reserves with IMF.
• Foreign Exchange Swap:
  • A transaction where RBI buys or sells foreign currency in exchange for the Indian rupee.
  • Used to manage liquidity and currency stability.
• Special Drawing Rights (SDRs):
  • An international reserve asset allocated by the IMF to member countries.
  • Valued based on a basket of major global currencies.

Tabular Summary:

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9. What was India’s wholesale inflation rate in February 2024?
A) 1.95%
B) 2.38%
C) 3.12%
D) 4.25%
E) 5.94%
Answer: B) 2.38%

Event and Location:

• Event: India’s Wholesale Inflation Rate Update for February 2024.
• Date: March 2025.
• Location: India.
• Why in News: India’s wholesale inflation rose slightly to 2.38% in February 2024, up from 2.31% in January 2024, as per the Ministry of Commerce.

Wholesale Price Index (WPI) Overview:

• Definition: Measures price changes at the wholesale level before goods reach consumers.
• Key Difference from CPI: WPI tracks wholesale price trends, while CPI (Consumer Price Index) reflects retail-level inflation.

February 2024 Inflation Data:

• WPI Inflation: 2.38% (up from 2.31% in January 2024).
• Food Index Decline: Dropped from 7.47% in January to 5.94% in February.

Major Contributors to Inflation Increase:

• Manufactured Food Products: Higher raw material costs led to price rises.
• Primary Food Articles: Prices of cereals and pulses increased.
• Textiles: Rising input costs impacted the textile industry.
• Non-Food Articles: Prices of cotton, oilseeds, and rubber fluctuated.

Factors Influencing Wholesale Inflation in February:

1. Rising Prices in Key Sectors:
   • Higher costs in manufacturing and raw materials contributed to inflation.
   • Demand for goods remained stable, supporting higher prices.
2. Decline in Food Inflation:
   • Vegetables, fruits, edible oils, and fats saw price corrections, reducing the Food Index.
3. Impact of RBI’s Monetary Policy:
   • The repo rate was reduced by 25 basis points to encourage economic growth.
   • This could impact future wholesale and retail inflation levels.

Impact on the Economy:

• Manufacturing & Business Sector:
  • Moderate inflation encourages production growth.
  • High input costs may reduce business profit margins.
• Consumer Prices & Retail Inflation:
  • Lower food inflation may benefit consumers.
  • Higher manufacturing costs could keep consumer prices elevated.
• Government & Economic Stability:
  • Monthly WPI data publication helps guide economic policies.
  • Policymakers use WPI to adjust monetary and fiscal measures.

Important Terms Explained:

• Wholesale Price Index (WPI):
  • Measures price movement at the wholesale level before goods reach consumers.
  • Used by businesses and policymakers to track input cost trends.
• Consumer Price Index (CPI):
  • Measures retail-level inflation that directly affects consumers.
  • CPI and WPI together help determine overall inflation trends.
• Repo Rate:
  • The interest rate at which RBI lends money to commercial banks.
  • Lowering it can boost liquidity and economic growth.

Tabular Summary:

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10. According to Moody’s, what is the expected system-wide loan-to-deposit (LDR) ratio in the Indian banking system?
A) 70%
B) 75%
C) 80%
D) 85%
E) 90%
Answer: C) 80%

Event and Location:

• Event: Moody’s Report on Indian Banking System Outlook.
• Date: March 12, 2025.
• Location: India.
• Why in News:
  • Global rating agency Moody’s stated that Indian banks’ asset quality may deteriorate moderately in the next 12-18 months, though the overall banking system outlook remains stable.

Key Findings by Moody’s:

• Asset Quality & Non-Performing Loans (NPLs):
  • System-wide NPLs fell to 2.6% in September 2024 from 7.3% in March 2024 due to recoveries and write-offs.
  • NPLs may increase up to 3.0% due to stress in unsecured retail loans, microfinance loans, and small business loans.
  • Slippage ratios and loan-loss provisioning costs are expected to rise slightly due to:
    • Slower economic growth in recent quarters.
    • Impact of past interest rate hikes.
    • Aging of unsecured retail loans.
  • Corporate loan quality remains strong due to deleveraging and earnings growth.
• Banking Sector Growth & Economic Outlook:
  • India’s real GDP growth expected to exceed 6.5% in FY26 (ending March 2026).
  • Government capital expenditure and tax cuts will help boost consumption and demand.
  • Monetary easing by RBI will support banking operations.
• Funding Tightness & Loan-to-Deposit Ratio (LDR):
  • Loan-to-deposit ratio (LDR) expected to stabilize at 80%.
  • RBI data (Feb 21, 2025):
    • Credit-to-deposit ratio: 79% (up from 78% a year ago).
    • Bank credit growth: 11.0% YoY.
    • Deposit growth: 10.3% YoY.
  • Comparison with 2024:
    • Bank credit growth (Feb 23, 2024): 20.5%.
    • Deposit growth (Feb 23, 2024): 13.1%.
  • RBI expected to maintain adequate liquidity through various tools.
• Strategic Importance of the Report:
  • Highlights key risks in unsecured retail lending.
  • Shows strong corporate loan quality due to deleveraging.
  • Indicates stable funding conditions in the banking sector.
  • Predicts RBI’s role in maintaining liquidity and financial stability.

Important Terms Explained:

• Non-Performing Loan (NPL):
  • A loan where the borrower has failed to make payments for a prolonged period.
  • High NPLs indicate rising financial stress in the banking sector.
• Loan-to-Deposit Ratio (LDR):
  • Measures the percentage of total loans given out by banks relative to total deposits received.
  • A higher LDR means more lending, while a lower LDR indicates strong liquidity.
• Slippage Ratio:
  • The percentage of new loans turning into NPLs over a specific period.
  • A rising slippage ratio indicates asset quality deterioration.

Tabular Summary:

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Acquisitions and Mergers – Daily Current Affairs March 17

11. Who acquired a 98% stake in Magma General Insurance from Adar Poonawalla?
A) Tata Group and Reliance Industries
B) Bajaj Finserv and HDFC Life
C) Patanjali Ayurved and DS Group
D) ICICI Lombard and LIC
E) Aditya Birla Capital and SBI General Insurance
Answer: C) Patanjali Ayurved and DS Group

Event and Location:

• Event: Magma Insurance Stake Acquisition by Patanjali Ayurved and DS Group.
• Date: March 2025.
• Location: India.
• Why in News: Adar Poonawalla sold a 98% stake in Magma General Insurance for ₹4,500 crore.
• Seller: Adar Poonawalla’s Sanoti Properties.
• Buyers: Patanjali Ayurved and DS Group.
• Deal Value: ₹4,500 crore.
• Stake Acquired: 98%.

Magma Insurance Financials:

• Gross Written Premium (GWP) 2024: ₹3,295 crore.
• Projected GWP 2025: ₹3,650-3,700 crore.
• Profit Before Tax (PBT) 2025: ₹20-25 crore.
• Magma Insurance Products: Offers 70+ insurance products, including vehicle, health, home, fire, marine, and liability insurance.

Reasons Behind the Acquisition:

• Adar Poonawalla’s Exit: To focus on vaccine manufacturing and core businesses.
• Patanjali’s Expansion: Entry into the financial sector and general insurance.
• DS Group’s Diversification: Expanding from FMCG and luxury to insurance.
• Rural Market Access: Patanjali’s 2 lakh+ retail outlets to drive insurance growth.
• FDI Impact: 100% FDI in the insurance sector makes it more lucrative.

Impact of the Deal:

• Financial Strength: Capital infusion from Patanjali & DS Group will boost business.
• Market Reach: Patanjali’s rural presence will increase customer base.
• Growth Rate: Expected to continue 26% annual growth, similar to the past five years.
• Product Expansion: Focus on affordable health and agricultural insurance.
• Competitive Edge: New ownership will challenge established insurance players.

Future Strategies Under New Ownership:

• Rural Expansion: Strengthening presence in semi-urban and rural areas.
• New Insurance Products: Launch of low-cost health and agricultural insurance.
• Technology Integration: Digitization of insurance services for better customer experience.

Important Terms Explained:

• Gross Written Premium (GWP):
  • The total premium collected by an insurance company before deductions like reinsurance.
  • Indicates growth and market share in the insurance industry.
• Foreign Direct Investment (FDI) in Insurance:
  • India allows 100% FDI in the insurance sector.
  • Helps attract global capital and enhances industry competitiveness.

Tabular Summary:

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Science and Technology – Daily Current Affairs March 18

12. How much revenue did India generate by launching foreign satellites between 2015 and 2024?
A) $50 million
B) $100 million
C) $143 million
D) $200 million
E) $250 million
Answer: C) $143 million

Event and Location:

• Event: India’s Commercial Satellite Launch Success (2015-2024).
• Date: 2015-2024.
• Location: India (ISRO launch sites).
• Why in News: India earned $143 million by launching 393 foreign satellites from 34 countries.

Foreign Satellite Launch Statistics (2015-2024):

• Total Satellites Launched: 393 foreign satellites + 3 Indian commercial satellites.
• Revenue Generated: $143 million.
• Top Contributing Countries:
  • United States: 232 satellites.
  • United Kingdom: 83 satellites.
  • Singapore: 19 satellites.
  • Others: Canada, Korea, Luxembourg, Italy, Germany, France, Japan, Israel, UAE, etc.

Launch Vehicles Used:

• PSLV (Polar Satellite Launch Vehicle): Reliable workhorse for satellite launches.
• LVM3 (Launch Vehicle Mark-3): Heavy-lift launcher used for high-capacity missions.
• SSLV (Small Satellite Launch Vehicle): Designed for cost-effective small satellite launches.

India’s Growing Space Collaboration:

• International Agreements: Signed space cooperation pacts with 61 countries and 5 multilateral organizations.

Major Focus Areas:

• Satellite Remote Sensing.
• Satellite Navigation.
• Satellite Communication.
• Space Science & Planetary Exploration.
• Capacity Building.

Recent Space Achievements:

• Chandrayaan-3 (2023): First successful soft landing on the Moon’s South Pole.
• Aditya L1 (2023): India’s first solar mission to study the Sun.
• Gaganyaan Mission (2025): India’s first human spaceflight program.
• Bharatiya Antariksha Station (2035): India’s planned space station.
• Indian Moon Mission (2040): Plan to send an Indian astronaut to the Moon.

Growth of India’s Private Space Sector:

• Private Sector Entry (2020): Space sector opened to private companies, boosting innovation.
• Startup Growth: Indian space startups are now playing a key role in satellite and launch vehicle development.

Important Terms Explained:

• PSLV (Polar Satellite Launch Vehicle):
  • India’s most successful launch vehicle, known for launching satellites into polar and geostationary orbits.
• Gaganyaan Mission:
  • India’s first human spaceflight program, expected to launch in 2025.
  • Astronauts trained in Russia for this mission.
• Bharatiya Antariksha Station:
  • India’s planned independent space station, set to be operational by 2035.

Tabular Summary:

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13. Which space agency is collaborating with ISRO for the Chandrayaan-5 mission?
A) NASA
B) ESA
C) Roscosmos
D) JAXA
E) CNSA
Answer: D) JAXA

Event and Location:

• Event: Chandrayaan-5 Mission Approval.
• Date: March 13, 2025.
• Location: India.
• Why in News: The Indian government approved the Chandrayaan-5 mission, announced by ISRO Chairman V Narayanan.

Mission Details:

• Approval Date: March 13, 2025.
• Announced by: ISRO Chairman V Narayanan.
• Collaboration: India (ISRO) and Japan (JAXA).
• Objective: Advanced lunar surface study.
• Rover Weight: 250 kg (10 times heavier than Chandrayaan-3’s Pragyan rover).

Chandrayaan Mission Timeline:

Objectives of Chandrayaan-5:

• Mineralogical & Geological Analysis: Conduct detailed studies of the Moon’s surface.
• Heavy Rover Deployment: 250 kg rover for deeper exploration.
• Lunar Technology Advancement: Enhance India’s expertise in lunar exploration.
• International Collaboration: Strengthen ties with Japan’s space agency, JAXA.

Future Plans of ISRO:

• Chandrayaan-4 (2027): First Indian mission to return lunar soil samples to Earth.
• Gaganyaan Mission (2025): India’s first manned space mission.
• Bharatiya Antariksha Station (2035): India’s independent space station.

Important Terms Explained:

• JAXA (Japan Aerospace Exploration Agency):
  • Japan’s national space agency, collaborating with ISRO for lunar exploration.
• Soft Landing:
  • A controlled landing on the Moon’s surface without damage to instruments.
• Lunar Rover:
  • A robotic vehicle designed for surface exploration of the Moon.

 Tabular Summary:

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Defence – Daily Current Affairs March 17

14. Which organization developed the Ashwini LLTR radar in collaboration with BEL?
A) HAL
B) ISRO
C) DRDO
D) BHEL
E) Indian Army
Answer: C) DRDO

Event and Location:

• Event: BEL-MoD ₹2,906 Crore Deal for LLTR (Ashwini) Radar.
• Date: March 14, 2025.
• Location: India.
• Why in News: Bharat Electronics Limited (BEL) signed a ₹2,906 crore contract with the Ministry of Defence (MoD) for the procurement of Low-Level Transportable Radar (LLTR) Ashwini.

About Ashwini LLTR Radar:

• Technology: Active Electronically Scanned Phased Array (AESA) Radar based on solid-state technology.
• Developed by: DRDO’s Electronics & Radar Development Establishment (LRDE) and BEL.
• Surveillance Capability: Tracks high-speed fighter jets, slow-moving drones, and helicopters.

Integrated Systems:

• Identification Friend or Foe (IFF) System for 4D surveillance (Range, Azimuth, Elevation, and Velocity).
• Electronic Counter-Countermeasures (ECCM) for jamming resistance.
• Mobility: Designed for deployment in diverse terrains.

Details of the BEL-MoD Deal:

• Contract Value: ₹2,906 crore.
• Date Signed: March 14, 2025.
• Signed Between: BEL and Ministry of Defence (MoD).
• In Presence of: Defence Secretary Rajesh Kumar Singh.
• BEL’s Recent Defence Orders:
  • ₹577 crore deal for:
    • Airborne electronic warfare systems.
    • Underwater communication systems.
    • Doppler weather radars.
    • Train communication systems.
    • Radar upgrades and related services.

Strategic Importance:

• Enhances India’s air defence capabilities by improving early threat detection.
• Strengthens the Indian Air Force’s (IAF) ability to track aerial threats.
• Reduces dependence on imported radar systems, supporting Aatmanirbhar Bharat.
• Boosts indigenous defence manufacturing and technological expertise.

Important Terms Explained:

• Active Electronically Scanned Array (AESA) Radar:
  • Uses multiple electronically controlled beams for real-time tracking.
  • Provides faster target detection and better accuracy than traditional radars.
• Electronic Counter-Countermeasures (ECCM):
  • Protects radars from enemy jamming and interference.
  • Ensures uninterrupted tracking of enemy aircraft and missiles.
• Identification Friend or Foe (IFF) System:
  • Distinguishes friendly aircraft from hostile ones to prevent accidental engagements.

Tabular Summary:

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International Affairs – Daily Current Affairs March 17

15. What is the primary objective of the India-New Zealand Free Trade Agreement (FTA)?
A) To reduce travel restrictions between India and New Zealand.
B) To enhance trade and economic cooperation between the two nations.
C) To create a common currency for bilateral trade.
D) To establish a military alliance.
E) To promote cultural exchanges.
Answer: B) To enhance trade and economic cooperation between the two nations.

Event and Location:

• Event: India and New Zealand FTA Negotiations Launched.
• Date: March 16, 2025.
• Location: New Delhi, India.
• Announced By: PM Narendra Modi & PM Christopher Luxon.
• Ministers Involved: Shri Piyush Goyal (India) & Todd McClay (New Zealand).
• Current Bilateral Trade: Over 1 billion USD (April 2024 – January 2025).
• India’s Exports (2023-24): 538 million USD.
• India’s Imports (2023-24): 335 million USD.

Trade Growth (2024-25 up to December 31):

• Exports Growth: 21.49% to 496 million USD.
• Imports Growth: 78.72% to 463 million USD.
• Trade Gap: Reduced to 33 million USD.
• Major Imports from New Zealand: Wool, iron & steel, fruits & nuts, aluminum.
• Major Exports to New Zealand: Pharmaceuticals, machinery, textiles, pearls, precious stones.
• Key Indian Companies in New Zealand: HCL, Infosys, Tech Mahindra, Mahindra Motors, Dr. Reddy’s.

FTA Objectives:

• Market Access: Expand trade opportunities.
• Supply Chain Integration: Strengthen logistics and production networks.
• Economic Resilience: Enhance bilateral economic stability.

Important Terms Explained:

• Free Trade Agreement (FTA): Agreement to reduce or eliminate trade barriers between countries.
• India-Australia Economic Cooperation and Trade Agreement (ECTA): Signed in April 2022 to boost trade between India and Australia.

Tabular Summary:

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16. What was one of the key focus areas of India’s participation in the 353rd Governing Body Meeting of the ILO?
A) Development of international space laws
B) Social protection and fair migration pathways
C) Establishment of a new trade agreement with Europe
D) Promotion of cryptocurrency regulations
E) Expansion of nuclear energy programs
Answer: B) Social protection and fair migration pathways

Event and Location:

• Event: India’s Participation in the 353rd Governing Body Meeting of ILO.
• Date: March 10-20, 2025.
• Location: Geneva, Switzerland.
• Why in News: India actively participated in the 353rd Governing Body Meeting of the International Labour Organisation (ILO).
• Indian Representative: Ms. Sumita Dawra, Secretary, Ministry of Labour & Employment.

Key Focus Areas:

• Social Protection: Advocated for expanding social security measures.
• Fair Migration: Supported skills-based migration pathways and ILO’s Fair Migration Agenda.
• Living Wages: Emphasized the importance of fair wages and responsible business conduct.
• AI and Future of Work: Discussed AI’s impact on employment and workforce adaptability.

India’s Achievements in Social Protection:

• EPFO Membership: 7.37 crore members.
• ESIC Coverage: 14.4 crore beneficiaries.
• e-Shram Portal: Registered 30.6 crore unorganized workers.
• PM Jan Arogya Yojana: Covered 60 crore beneficiaries.
• Targeted PDS: Provided food security to 81.35 crore people.

India’s Support for Global Initiatives:

• Global Coalition for Social Justice: Backed ILO’s initiative for global labour welfare.
• Second World Summit for Social Development: Supported the upcoming summit in Doha, Qatar.
• Tripartite Global Forum on Migration: Endorsed the ILO’s proposal to convene the forum.
• Chemicals & Waste Management: Reaffirmed commitment to global sustainability frameworks.

Bilateral Engagement with ILO Leadership:

• Meeting with ILO Director-General: Ms. Sumita Dawra met Mr. Gilbert F. Houngbo.
• India’s Data Pooling Exercise: Discussed collaboration for accurate social protection coverage.
• Financial Support: India provided its first-ever voluntary funding for the International Reference Classification of Occupations.
• Future Collaborations: Plans to work on living wages, gig workers’ welfare, and decent work in value chains.

India’s Recognition by ILO:

• Regional Dialogue on Social Justice: Hosted in New Delhi in 2024.
• Responsible Business Initiative: Led efforts for sustainable and inclusive business practices.
• G20 Feasibility Study: Supported research on international classification of occupations.

Important Terms Explained:

• International Labour Organisation (ILO):
  • A UN agency focused on labour rights, social protection, and decent work conditions.
  • Established in 1919, headquartered in Geneva, Switzerland.
• EPFO (Employees’ Provident Fund Organisation):
  • Manages retirement savings and social security for salaried employees in India.
• e-Shram Portal:
  • A national database of unorganized workers for better social security benefits.
• ILO’s Fair Migration Agenda:
  • Promotes ethical and regulated migration for better job opportunities.

Tabular Summary:

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17. Which disputed region was the focus of the Armenia-Azerbaijan conflict?
A) Crimea
B) Kashmir
C) Nagorno-Karabakh
D) Donbas
E) West Bank
Answer: C) Nagorno-Karabakh

Event and Location:

• Event: Armenia and Azerbaijan Finalize Peace Treaty.
• Date: March 13, 2025.
• Location: Armenia-Azerbaijan Border.
• Why in News: Armenia and Azerbaijan agreed on the text of a peace treaty to end their 40-year conflict over Nagorno-Karabakh.

Background of the Conflict:

• Started in the late 1980s, when Nagorno-Karabakh, a region with a majority ethnic Armenian population, sought to separate from Azerbaijan.
• Two wars were fought over the region, leading to mass expulsions of ethnic communities.
• September 2023: Azerbaijan retook Nagorno-Karabakh, causing 100,000 ethnic Armenians to flee to Armenia.

The Peace Agreement:

• Treaty Finalized: March 13, 2025.
• Armenia’s Foreign Ministry: Confirmed readiness for signing and proposed consultation on date and location.
• Azerbaijan’s Foreign Ministry: Expressed satisfaction with the draft treaty.

Conditions for Signing:

• Azerbaijan’s Demand: Armenia must amend its constitution, which Azerbaijan claims makes territorial claims over its land.
• Armenia’s Response: PM Nikol Pashinyan acknowledged the need for a constitutional referendum but no date has been set.

Geopolitical Impact:

• The Treaty Prevents Third-Party Forces from Monitoring the Border:
  • European Union’s monitoring mission opposed by Azerbaijan.
  • Russian border guards stationed in Armenia will be affected.

Challenges & Future Prospects:

• High tensions remain, with Azerbaijan’s President Ilham Aliyev accusing Armenia of posing a “fascist threat” in January 2025.
• Both countries aim to normalize relations and demilitarize their 1,000 km shared border.

Important Terms Explained:

• Nagorno-Karabakh Conflict:
  • A territorial dispute between Armenia and Azerbaijan over Nagorno-Karabakh, a region with an ethnic Armenian majority.
  • Resulted in two wars (1988-1994 and 2020) and continued skirmishes.
• Geopolitical Players:
  • Russia: Historically mediated peace efforts but is now restricted from border monitoring.
  • European Union (EU): Opposed by Azerbaijan for its role in border monitoring.

Tabular Summary:

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National Affairs – Daily Current Affairs March 17

18. What is the primary objective of the Fit India Carnival?
A) To promote cycling as a competitive sport.
B) To encourage fitness and a healthy lifestyle among citizens.
C) To introduce new Olympic sports in India.
D) To organize a talent hunt for future athletes.
E) To showcase India’s martial arts heritage.
Answer: B) To encourage fitness and a healthy lifestyle among citizens.

Event and Location:

• Event: First-Ever Fit India Carnival.
• Date: March 16-18, 2025.
• Location: Jawaharlal Nehru Stadium (JLN), New Delhi.
• Inaugurated By: Dr. Mansukh Mandaviya (Union Minister for Youth Affairs and Sports).

Star Participants:

• Ayushmann Khurrana: Fit India Icon.
• Sangram Singh: Wrestling Champion.
• Mickey Mehta: Wellness Expert.
• Shanky Singh: Former WWE Wrestler.
• Rohtash Chaudhary: Guinness World Record Holder.

Key Activities and Performances:

• Martial Arts Demonstrations: Kalaripayattu, Gatka, Mallakhamb.
• Fitness Challenges: Rope skipping, arm wrestling, push-ups, squats, cricket bowling.
• Health Assessments: Free check-ups by SAI’s NCSSR, including nutrition and psychological consultations.
• Book Launch: “Benefits of Cycling” by NCSSR.
• Fitness Through Dance: Cultural segment to promote fitness.
• Q&A Session: Interaction with fitness icons.

Union Minister’s Vision:

• Fitness Promotion: Encourage fitness as a movement across India.
• Expansion Plan: Extend Fit India Carnival to other cities and towns.

Important Terms Explained:

• Fit India Movement:
  • Launched in 2019 by PM Narendra Modi.
  • Aims to encourage a healthier lifestyle through physical activity and fitness.
• Kalaripayattu:
  • An ancient martial art form originating from Kerala.
  • Known as the oldest fighting system in the world.
• Mallakhamb:
  • A traditional Indian sport combining gymnastics and wrestling techniques.
  • Practiced on a wooden pole or hanging rope.

Tabular Summary:

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19. What key announcement was made during Ashwini Vaishnaw’s visit to IIT Madras?
A) IIT Madras will launch India’s first electric train.
B) The Hyperloop tube at IIT Madras will become the world’s longest high-speed tube.
C) India will start manufacturing AI-powered robots.
D) A new research facility for space technology will be built at IIT Madras.
E) IIT Madras will develop India’s first solar-powered car.
Answer: B) The Hyperloop tube at IIT Madras will become the world’s longest high-speed tube.

Event and Location:

• Event: Ashwini Vaishnaw’s Visit to IIT Madras Hyperloop Facility & Open House 2025.
• Date: March 2025.
• Location: IIT Madras, Tamil Nadu.
• Why in News: The 410-meter-long Hyperloop tube at IIT Madras will become the world’s longest high-speed tube.

Hyperloop Project:

• Government Support: Indian Railways Ministry is funding and providing technical assistance.
• Technology Development: Integral Coach Factory (ICF) Chennai is working on electronic systems for the Hyperloop.

ICF’s Contribution:

• Vande Bharat Expertise: ICF Chennai developed electronic systems for India’s high-speed trains.
• Hyperloop Tech Development: Now working on next-gen electronic systems for the Hyperloop.

Open House 2025 Exhibition:

• Organized By: IIT Centre for Innovation at IIT Madras’ Guindy campus.
• Showcased Innovations: Artificial intelligence, data science, and semiconductor technology.
• Minister’s Participation: Engaged with students and presented awards for innovation.

Semiconductor Manufacturing in India:

• Operational Units: India has five semiconductor fabrication (fab) units.
• Upcoming Launch: India’s first domestically manufactured semiconductor chip will be launched this year.

India’s Future in AI & Technology:

• Tech Leadership: India aims to be a global hub for AI, data science, and semiconductors.
• Minister’s Encouragement: Urged students to drive innovation and research in emerging technologies.

Important Terms Explained:

• Hyperloop Technology:
  • A high-speed transportation system using magnetically levitated pods in vacuum tubes.
  • Reduces air resistance and friction for faster travel.
• Integral Coach Factory (ICF):
  • A railway manufacturing unit under the Indian Railways.
  • Developed Vande Bharat Express and is now working on Hyperloop technology.
• Semiconductor Fabrication (Fab) Unit:
  • A facility where semiconductor chips are manufactured and assembled.
  • Essential for electronics, AI, and telecommunications.

Tabular Summary:

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20. Where is the permanent campus of NECTAR being established?
A) Guwahati, Assam
B) Agartala, Tripura
C) Mawdiangdiang, Shillong
D) Aizawl, Mizoram
E) Imphal, Manipur
Answer: C) Mawdiangdiang, Shillong

Event and Location:

• Event: Foundation Stone Laying Ceremony for NECTAR’s Permanent Campus.
• Date: March 13, 2025.
• Location: Mawdiangdiang, Shillong, Meghalaya.
• Why in News: Union Minister Dr. Jitendra Singh laid the foundation stone for NECTAR’s permanent campus in Shillong.

About NECTAR (North East Centre for Technology Application and Reach):

• Established: 2014.
• Department: Department of Science and Technology (DST), Government of India.
• Objective: Technology-driven socio-economic development in the Northeast region.

Key Announcements by the Union Minister:

• Mission Saffron (2021): Promoting saffron cultivation in the Northeast.
• STEM Education Lab: In collaboration with IISER Pune and Smart Village Movement, benefiting 100 schools with robotics, 3D printing, and electronics.
• Drone Technology: Used for flood vulnerability assessments in Morigaon, Dhubri, and Majuli districts of Assam.
• Beekeeping and Honey Mission: Boosting rural livelihoods through honey production.
• Atmanirbhar Northeast & Viksit Bharat: NECTAR to contribute to self-reliance and regional growth under PM Modi’s vision.

NECTAR’s Key Focus Areas:

• Saffron Cultivation.
• Drone Technology Applications.
• STEM Education & Robotics.
• Flood Risk Mitigation.
• Beekeeping and Honey Production.
• Bamboo-Based Innovations.

Important Terms Explained:

• Mission Saffron (2021):
  • A project to introduce saffron farming in Northeast India, reducing dependency on Jammu & Kashmir.
• STEM Education:
  • Promotes Science, Technology, Engineering, and Mathematics (STEM) education using modern technology like robotics and 3D printing.
• Drone Technology for Flood Assessment:
  • Drones are used to analyze flood-prone areas, helping in disaster preparedness and mitigation.

Tabular Summary:

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21. What is the primary objective of the PM-ABHIM scheme?
A) Provide free medicines to all citizens
B) Strengthen public health infrastructure and respond to future pandemics
C) Establish medical colleges in every district
D) Offer health insurance coverage to low-income families
E) Promote homeopathy and alternative medicine
Answer: B) Strengthen public health infrastructure and respond to future pandemics

Event and Location:

• Event: Delhi to Sign MoU for PM-ABHIM Implementation.
• Date: March 18, 2025.
• Location: Delhi.
• Why in News: The Delhi government will sign an MoU with the Ministry of Health and Family Welfare to implement the Pradhan Mantri Ayushman Bharat Health Infrastructure Mission (PM-ABHIM).

About PM-ABHIM Scheme:

• Launched by: Government of India.
• Objective: Strengthening public health infrastructure and pandemic preparedness.

Focus Areas:

• Enhancing urban and rural primary healthcare facilities.
• Upgrading existing health centers for better medical services.
• Setting up new Ayushman Arogya Mandirs (U-AAMs) for improved community healthcare.

Implementation Plan for Delhi:

• 1,139 Urban Ayushman Arogya Mandirs (U-AAMs) to be set up.
• 553 existing mohalla clinics to be upgraded into U-AAMs.
• 413 new U-AAMs to be established.
• Previously implemented as a pilot project with diagnostic labs at Indira Gandhi Hospital.

Political & Legal Background:

• Initially opposed by the AAP-led Delhi government.
• Delhi High Court ordered the government to sign the MoU by January 5, 2025.
• Supreme Court stayed the High Court order on January 17, 2025.
• New BJP-led government in Delhi approved the scheme in February 2025.
• Final MoU signing scheduled for March 18, 2025.

Strategic Importance:

• Enhances Delhi’s healthcare infrastructure by providing accessible medical services.
• Improves pandemic response capacity with better primary healthcare facilities.
• Aligns with Aatmanirbhar Bharat by ensuring a self-reliant health system.

Important Terms Explained:

• Urban Ayushman Arogya Mandirs (U-AAMs):
  • Primary healthcare centers under PM-ABHIM.
  • Provide basic medical services, diagnostics, and preventive healthcare.
• Mohalla Clinics:
  • Neighborhood-level clinics offering free primary healthcare in Delhi.
  • Established by the Delhi government to improve local healthcare access.

Tabular Summary:

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Over All Review

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