Current Affairs Quiz - March 2025

Notes:
The Financial Stability Report 2024 released by Reserve Bank of India (RBI) highlights rising household debt, increasing from 36.6% of GDP in 2021 to 42.9% in 2024. Although lower than in other emerging economies, the rising debt-to-GDP ratio signals potential economic risks. A shift from borrowing for assets like homes to borrowing for consumption is seen, especially among lower-income groups. More loans are being taken by prime and super-prime borrowers for asset creation, while sub-prime borrowers use loans for consumption. Lower-income households are increasingly relying on credit cards and personal loans for daily expenses, leading to financial stress.

Notes:
Union Minister of Power and Housing & Urban Affairs, Sh. Manohar Lal, inaugurated GRIDCON 2025 in New Delhi. The event was an International Conference cum Exhibition. It was organized by Power Grid Corporation of India Limited (POWERGRID). The theme of the conference was “Innovations in Grid Resilience.”

Notes:
The Bureau of Water Use Efficiency (BWUE) under the National Water Mission (NWM), Ministry of Jal Shakti, organized the “Water Sustainability Conference 2025” in collaboration with The Energy and Resources Institute (TERI). The conference focused on Industrial Water Use Efficiency and was held on 12th March 2025 at NDMC Convention Centre, Palika Kendra, Sansad Marg, New Delhi. Union Minister of Jal Shakti, Shri C. R. Patil, inaugurated the event, emphasizing the government’s commitment to water conservation. The event brought together Ministries, Policymakers, Industry Leaders, and Experts to discuss innovative technologies and strategies for efficient industrial water use.

Notes:
The 4th ‘No Money for Terror’ (NMFT) Conference 2025 was held in Munich, Germany, where India highlighted the need for global cooperation to combat terror financing. NMFT is a global ministerial-level initiative launched in 2018, with the first meeting held in Paris. It serves as a platform for intelligence sharing, legal cooperation, and policy development to counter terror funding. The initiative is controlled by the Financial Action Task Force (FATF) and UN Counter-Terrorism Bodies. The primary aim is to disrupt financial networks used by terrorist organizations and strengthen international financial monitoring systems.

Notes:
Hola Mohalla is an important festival for the Sikh community which is celebrated after Holi.   This festival promotes unity, bravery and brotherhood. The festival was organized in Roopnagar district, with the first three days in Kiratpur Sahib and the last three days in Anandpur Sahib. This festival includes processions, sports and cultural programs.

Notes:
The Union Home Minister addressed the 57th annual conference of the All Bodo Students’ Union (ABSU) in Kokrajhar, Assam. He highlighted the success of the Bodo Peace Accord (2020). The accord aimed to bring peace and stability to Bodo-dominated areas, especially the Bodoland Territorial Region (BTR). It was signed by the Government of India, the Assam Government, and Bodo organizations, including the National Democratic Front of Bodoland (NDFB). Bodoland Territorial Council (BTC) was renamed BTR with greater autonomy. Non-Bodo villages in BTC were excluded. BTC’s powers were expanded under the Sixth Schedule. Bodo was recognized as an associate official language of Assam.

Notes:
Prasar Bharati received the Hockey India Jaman Lal Sharma Award 2024 for promoting and broadcasting hockey. The award was given at the Hockey India 7th Annual Awards 2024 in New Delhi. Hockey India honored the 1975 World Cup-winning squad with the Major Dhyan Chand Lifetime Achievement Award and ₹50 lakh. Savita Punia and Harmanpreet Singh won the Balbir Singh Sr. Award for Player of the Year 2024.

Notes:
The 353rd Governing Body meeting of the International Labour Organisation (ILO) is being held in Geneva, Switzerland, from March 10 to 20, 2025. Representatives from governments, workers, and employers discuss key labour and employment policies. India’s delegation, led by Sumita Dawra, Secretary, Ministry of Labour and Employment, highlighted India’s labour welfare and employment efforts. India supported the UN-led Second World Summit for Social Development in Doha, Qatar. India has doubled its social protection coverage to 48.8%, exceeding the global average by 5%.

Notes:
Indore is launching India’s first PPP-model green waste processing plant under the Swachh Bharat Mission-Urban. The plant aims to convert green waste into valuable resources like wooden pellets as an alternative to coal, promoting energy conservation. The plant is built on 55,000 square feet land in Bicholi Hapsi, transforming green waste into valuable products. The initiative helps control Air Quality Index (AQI), reduces pollution, and supports environmental sustainability. The project promotes waste management, cleanliness, and revenue generation for IMC, aligning with the Garbage-Free Cities vision.

Notes:
Leaders of the Hmar and Zomi communities agreed to restore peace in Churachandpur, Manipur, after recent clashes. The Zomi tribe is an ethnic group also known as Chin, Mizo, or Kuki, depending on location. They belong to the Tibeto-Burman group of the Mongoloid race and are spread across India, Myanmar, and Bangladesh. In India, they reside in Nagaland, Mizoram, Manipur, and Assam. They speak Kuki-Chin (Kukish) languages.