CA (Dec 2024-March 2025) by Saurabh Kr Pandey

Digital Transformation Award to RBI

Recently, the Reserve Bank of India (RBI) has received the Digital
Transformation Award from Central Banking in London for its groundbreaking
digital initiatives, Saarathi and Pravaah, both of which were developed by the
bank’s in-house tech team. These initiatives have transformed RBI’s internal
and external processes, significantly reducing the need for paper-based
submissions.
Saarathi, launched in January 2023, has fully digitized RBI’s internal workflow,
allowing employees to securely submit and share documents. The system has
improved record management, data analysis, task tracking, collaboration, and
integration with other RBI systems. Prior to Saarathi, different departments
relied on a mix of manual and digital processes, but the platform now serves as
a unified digital repository for all the central bank’s information.
Pravaah, introduced in May 2024, is a digital platform for external users to
submit regulatory applications to RBI. The documents submitted through
Pravaah are automatically linked to the Saarathi database, where they are
processed digitally using centralized cybersecurity systems and digital tracking.

Vikram and Kalpana: ISRO develops high-speed

microprocessors for space missions
The Indian Space Research Organisation (Isro) and the Semiconductor
Laboratory (SCL) in Chandigarh have jointly developed two cutting-edge 32-bit
microprocessors, Vikram 3201 and Kalpana 3201, specifically designed for
space applications.
Vikram 3201 is India's first fully indigenous 32-bit microprocessor qualified for
use in the harsh conditions of launch vehicles. It is an advanced version of the
16-bit Vikram 1601 microprocessor, which has been operational in Isro's launch
vehicles since 2009.
Kalpana 3201 is also a 32-bit SPARC V8 RISC microprocessor based on the
IEEE 1754 Instruction Set Architecture. It is designed to be compatible with
open-source software toolsets and has been tested with flight software, making
it versatile for various applications.
This initiative aligns with India’s “Make in India” campaign, promoting self-
reliance in critical technology sectors.

Scientists turn light into a 'Supersolid'

For the first time, researchers transformed light into a quantum crystalline
structure to create a "supersolid" that's both solid and liquid at the same time.
This breakthrough, achieved by Italian researchers, marks a new phase of matter
that combines the properties of solids and superfluids. Although scientists have
made supersolids out of atoms before, this is the first instance of coupling light
and matter to create a supersolid and it opens new doors for studying
condensed-matter physics. This discovery has profound implications for
quantum computing, superconductors, and condensed-matter physics.
Supersolids are a strange state of matter defined by quantum mechanics where
particles condense into an orderly, crystalline solid but also move like a liquid
that has no viscosity. (Viscosity refers to a substance's internal friction,
governing how smoothly it flows). Usually, solids don't move on their own, but
supersolids change direction and density depending on particle interactions
while maintaining an organized lattice structure.
Previously, this state was only observed in Bose-Einstein condensates, which
require extreme cooling. The recent research demonstrates that light can also
achieve this state, altering our understanding of light and matter.
Characteristics of a supersolid
 Dual Nature: Combines properties of solids and superfluids.
 Quantum Coherence: Particles exist in a highly correlated state due to
quantum effects.
 Zero Viscosity: Moves without internal resistance.
 Temperature Dependency: Requires ultra-cold conditions close to
absolute zero (-273.15°C).

ISRO successfully undocks Spadex satellites

On 13th March, 2025, ISRO has successfully completed the undocking of two
satellites, part of the Space Docking Experiment (SpaDeX) mission, marking a
significant milestone in India's space exploration journey.
The undocking process involved a precise sequence of events, culminating in
the separation of the SDX-01 and SDX-02 satellites. The undocking of the
satellites took place in 460 km circular orbit with 45-degree inclination. The
satellites are now orbiting independently and their health is normal. With this,
ISRO has now successfully demonstrated all the capabilities required for
rendezvous, docking and undocking operations in a circular orbit.
The successful undocking of the SpaDeX satellites paves the way for India's
ambitious future missions, including the establishment of the Bharatiya Antriksh
Station, Chandrayaan-4, and the Gaganyaan program. Mastering docking
technology is essential for in-space refuelling. This capability can extend
satellite lifespans and reduce the need for new launches.
Background
On January 16, 2025, the Indian Space Research Organisation (ISRO) achieved
milestone in space exploration by successfully docking two satellites, SDX01
and SDX02. Following this, on January 30, ISRO completed a complex de-
docking process. This achievement marks India’s entry into an elite group of
countries capable of such advanced space operations.
Docking involves two spacecraft connecting in space. It requires precise
alignment of speed and orientation. De-docking, while seemingly simpler, is
equally complex. It requires controlled separation to prevent collisions in
microgravity.

Astra Missile Test Launch

On 12th March 2025, Aeronautical Development Agency has successfully
conducted test-launch of Indigenous ASTRA, Beyond Visual Range Air-to-
Air Missile (BVRAAM) from LCA (Light Combat Aircraft) Tejas AF MK1
prototype fighter aircraft, off the coast of Chandipur, Odisha. The test-firing
successfully demonstrated the direct hit of the missile on flying target.
ASTRA missile is designed and developed by DRDO capable of engaging the
targets over 100km and equipped with advanced guidance and navigation
capabilities allows missile to destroy targets with greater accuracy. The missile
is already inducted into the Indian Air Force.The successful test-firing is a
significant milestone towards the induction of LCA AF MK1A variant.
Note:- The Aeronautical Development Agency (ADA), under the Department of
Defence Research and Development (DR&D) of Ministry of Defence, was
established in Bangalore in 1984 to oversee the development of the India's Light
Combat Aircraft (LCA) programme. It has designed the Tejas and Tejas Mk
2, TEDBF and AMCA.
The HAL Tejas is an single-engine, Single Seater multirole light combat aircraft
designed by the Aeronautical Development Agency (ADA) and manufactured
by Hindustan Aeronautics Limited (HAL)

Bongosagar 2025
The India-Bangladesh Naval Exercise Bongosagar 2025 took place in March
2025 in Bay of Bengal. This event marked step in strengthening the bilateral
military relationship between India & Bangladesh. The exercise aimed to
enhance maritime security through collaborative operations between the two
navies. INS Ranvir, a destroyer from the Indian Navy, & BNS Abu Ubaidah, a
frigate from the Bangladesh Navy, were the main vessels involved.
The exercise contributes to the broader Security and Growth for All in the
Region (SAGAR) initiative. This initiative promotes stability and security in the
Indian Ocean region. By enhancing naval cooperation, both countries aim to
counter global security challenges effectively.

NIIF to Raise $2 Billion Private Credit Fund

The National Investment and Infrastructure Fund (NIIF) is a government-
backed initiative in India aimed at boosting infrastructure investment.
Established in 2015, it seeks to attract international capital for various projects
in the country. As of 2025, NIIF is planning to raise a $2 billion private credit
fund, which would be the largest of its kind in India. This initiative is in early
discussions with sovereign investors to secure their participation.
NIIF plays important role in channeling international capital into the Indian
economy. By focusing on infrastructure development, it aims to maximise
economic growth and enhance the quality of life for citizens. The fund supports
large-scale projects that can have impact on various sectors.
NIIF is headquartered in Mumbai and operates under the Ministry of Finance. It
is 49% owned by the Government of India and 51% by sovereign wealth and
pension funds from across the world.
The primary objective of NIIF is to mobilise long-term capital for infrastructure
projects. NIIF also seeks to attract anchor investors and provide advisory
services for infrastructure projects. The fund focuses on both Greenfield and
Brownfield projects.
Logistics Performance Index, 2023
India has achieved notable rankings in the World Bank’s Logistics Performance
Index (LPI) 2023. The country is now 22nd in the
International Shipments category and 38th overall among 139 countries. This
progress shows India’s strides toward increasing logistics efficiency, reducing
costs, and integrating advanced technology into its supply chains. Singapore
leads the ranking followed by Finland among 139 countries and for the first
time, several countries hold the same rank and position, such as Denmark,
Germany, Switzerland and the Netherlands all holding the number 3 rank in the
2023 LPI. Afghanistan is in last place.
The Government of India has introduced several impactful policies to
strengthen the logistics sector. The PM GatiShakti National Master Plan focuses
on multimodal connectivity, which aims to integrate various transport networks.
This initiative is set to reduce logistics costs and promote economic growth by
2024-25. The National Logistics Policy, launched in September 2022, seeks to
enhance last-mile delivery and overall logistics efficiency.
India’s Maritime Amrit Kaal Vision 2047 outlines long-term aspirations for the
logistics sector. This vision includes expanding port capacity through greenfield
and brownfield developments, promoting sustainability through hydrogen hubs,
and enhancing shipbuilding capabilities.

Al Thani of Qatar visited India

On February 18, 2025, Amir Tamim Bin Hamad Al Thani of Qatar visited India
for a two-day state visit. This is the Amir’s first visit to India in 9 years. India and
Qatar share deep-rooted historical ties & the relationship has evolved in recent
years, particularly in trade and investment.
During the visit, PM Modi and the Amir aimed to strengthen their relationship by
focusing on mutual interests. The discussions also covered regional and global
issues, underlining the importance of collaboration on a broader scale.
India-Qatar Strategic Partnership
 India & Qatar have decided to strengthen their relationship by upgrading
it to a strategic partnership. It focuses on trade, energy, investments,
innovation, technology, food security, culture, and people-to-people ties.
 Qatar is the 5th Gulf Cooperation Council (GCC) country to sign a
strategic partnership with India (after UAE, Saudi Arabia, Oman, &
Kuwait).
  A revised agreement was signed to avoid double taxation and prevent tax
evasion. This agreement is an important step towards a potential Free Trade
Agreement (FTA) between India and Qatar.
 $10 Billion Investment: Qatar will invest $10 billion in India, and its
investment authority will open an office in India.
 Both nations discussed signing Comprehensive Economic Partnership
Agreement (CEPA) to boost trade. The countries agreed to double their
trade (currently $14 billion) in the next 5 years.
UDAN 5.5
UDAN (Ude Desh ka Aam Naagrik) scheme has reached a new milestone with
the launch of its 5.5 version. This phase aims to improve regional air
connectivity, particularly for remote areas, hilly regions, & islands. The
initiative focuses on utilising seaplanes & helicopters to connect underserved
locations & it is step towards enhancing last-mile connectivity in India. It seeks
to improve accessibility for residents & promote tourism in these regions. It also
aims to provide economic benefits by facilitating trade & commerce.
Note:-
The UDAN Scheme is a key component of the PM Narendra Modi's National
Civil Aviation Policy which was released by the Ministry of Civil Aviation
(India) on 15 June 2016. Ude Desh ka Aam Naagrik (UDAN-RCS) is a
regional airport development program of the Government and part of the
Regional Connectivity Scheme (RCS) of upgrading under-serviced air routes. It
consists of setting up Greenfield airports and as well as upgradation of
Brownfield airports. Its objective is to make air travel more accessible and
contribute to economic development in India.
In October 2023, India has 149 operational airports for civil aviation, including
30 international, 12 customs, 107 domestic, & few more civil aviation enclaves
within military air bases. India is also planning to build the second airports in
the big cities to decongest, 6 by 2030, 15 by 2040 and 30 plus by 2047.

NITI Aayog’s report on Education

Recently, NITI Aayog released policy report titled “Expanding Quality Higher
Education through States and State Public Universities”. The report is a first-of-
its kind policy document in the higher education sector focused specifically on
States and State Public Universities (SPUs). It provides detailed quantitative
analysis on vital indicators of Quality, Funding and Financing, Governance and
Employability over the last decade across the themes. The report focuses on
State Public Universities (SPUs), which educate 80% of India’s college
students. It aligns with the National Education Policy (NEP) 2020 and aims to
help India become a developed country (Viksit Bharat) by 2047.
As of January 2025, 495 SPUs exist in India, with Karnataka having the most
(43), followed by West Bengal and Uttar Pradesh (38 each). Over the past 14
years, SPUs have grown by 50%, and student enrollment has increased by 38%,
reaching 3.24 crore students.The report suggests 80 policy recommendations in
four key areas:
1. Quality of Education
2. Funding & Finance
3. Governance
4. Employability
Quality of Education
 Introduce a National Research Policy to improve research quality.

 Create Centres of Excellence to solve local problems.

 Establish Multidisciplinary Education and Research Universities
(MERUs).
 Encourage humanities research and innovation.
 Improve teaching methods and digital learning platforms.
 Partner with foreign universities for global exposure.
Funding & Finance
 Increase financial autonomy for SPUs.

 Set up State-level Infrastructure Finance Agencies.

 Use CSR (Corporate Social Responsibility) contributions to improve
infrastructure.
Governance
 Formulate a State-level Higher Education Vision for 2047.

 Strengthen state Higher Education Councils to function like the UGC.

 Give SPUs more freedom in decision-making.
 Improve the faculty recruitment process for better teaching quality.
Employability
 Strengthen university-industry partnerships.

 Increase internships and apprenticeships for students.

 Promote entrepreneurship programs to encourage job creation.
 Focus on skill development and real-world applications.
PM-AJAY Scheme
The Pradhan Mantri Anusuchit Jaati Abhyuday Yojana (PM-AJAY) is an
initiative aimed at uplifting Scheduled Caste (SC) communities across India. The
primary objective of this scheme is to reduce poverty among SC communities and
it can be achieved through skill development and income-generating initiatives.
The scheme also aims to increase literacy rates and encourage SC enrolment in
educational institutions, particularly in aspirational districts.
Recently, the central advisory committee convened to review its progress and
strategize future actions. As of FY 2023-24, progress has been made. A total of
1,834 villages have been designated as Adarsh Gram. The grants-in-aid
component has approved plans for 17 states, enhancing livelihood projects.
Additionally, 15 new hostels have been sanctioned to support SC students in
higher education.
PM-AJAY comprises three main components:
 Adarsh Gram Development: This initiative transforms SC-majority
villages into model villages by ensuring integrated development. It focuses
on essential infrastructure and socio-economic indicators across ten
domains, including education, health, and financial inclusion.
 Grants-in-Aid: This component supports district and state-level projects
aimed at socio-economic development. It includes comprehensive
livelihood projects that create sustainable income opportunities for SC
communities.
 Hostel Construction: The scheme promotes the establishment of hostels
to facilitate quality education for SC students. It aims to reduce dropout
rates and improve access to higher education.
Note:- PM Anusuchit Jaati Abhuyday Yojana (PM- AJAY) is a merged scheme
of 03 Centrally Sponsored Scheme namely Pradhan Mantri Adarsh Gram
Yojana (PMAGY), Special Central Assistance to Scheduled Castes Sub Plan (
SCA to SCSP) and Babu Jagjivan Ram Chhatrawas Yojana(BJRCY) and has
been implemented since 2021-22 with an aim to reduce poverty of the SC
communities by generation of additional employment opportunities through
Skill development, income generating schemes and other initiatives.

BIMSTEC Youth Summit 2025

The BIMSTEC Youth Summit was held from 7th to 11th February 2025 in
Gandhinagar, Gujarat and it was organised by the Department of Youth Affairs,
Government of India. This summit aims to unify the youth of BIMSTEC nations
to share insights and experiences on youth-led initiatives.
Objectives of the Summit
 The 4th BIMSTEC Summit in Kathmandu in 2018 led to the
announcement of this youth summit. The primary goal of the BIMSTEC
Youth Summit is to facilitate dialogue among youth delegates from
member countries.
 The summit is themed Youth as a Bridge for Intra-BIMSTEC Exchange. It
aims to inspire young leaders to engage in global challenges and contribute
to the United Nations’ Sustainable Development Goals (SDGs) by 2030.
Background of BIMSTEC
The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic
Cooperation (BIMSTEC) is a regional organisation formed by seven member
states India, Bangladesh, Myanmar, Sri Lanka, Thailand, Nepal, and Bhutan. It
focuses on addressing common challenges such as climate change, poverty, and
sustainable development. BIMSTEC headquarters is located in Dhaka,
Bangladesh.
On 6 June 1997, a new sub-regional grouping was formed in Bangkok under the
name BIST-EC (Bangladesh, India, Sri Lanka, and Thailand Economic
Cooperation). Following the inclusion of Myanmar on 22 December 1997, the
Group was renamed as 'BIMST-EC' (Bangladesh, India, Myanmar, Sri Lanka
and Thailand Economic Cooperation). In February 2004, Nepal
and Bhutan became full members and the grouping was again renamed as
BIMSTEC or the Bay of Bengal Initiative for Multi-Sectoral Technical and
Economic Cooperation.

Vijay Durg
Recently, the Indian Army’s Eastern Command headquarters, Fort William
(Kolkata), was officially renamed as Vijay Durg. This change reflects India’s
ongoing efforts to shed colonial legacies and honour its indigenous military
history. The decision to rename the fort was made in December 2024, marking a
historic shift from British influence in recognition of India’s past. Additionally,
Kitchener House inside Fort William was renamed Manekshaw House, and St.
George’s Gate has been renamed as Shivaji Gate.
Fort William was built by the British in 1781 and was named after King William
III of England. The fort served as a key military stronghold during British rule
in India. Its strategic location on the eastern banks of the River Hooghly made it
vital for controlling trade and military operations in Bengal. The new name,
Vijay Durg, references a historic fort in Maharashtra that served as a naval base
for the Marathas during the reign of Chhatrapati Shivaji Maharaj.
Mount Taranaki Becomes a Legal Person
Recently, New Zealand‘s Mount Taranaki, also known as Taranaki Maunga, was
officially recognised as a legal person (or living entity). This landmark decision
acknowledges the mountain’s significance to Indigenous Māori people, granting
it all the rights and responsibilities of a human being.
The law is part of a broader movement to address historical injustices faced by
Māori following colonisation. For Māori, Taranaki is not just a geographical
feature but a source of cultural and spiritual sustenance. The mountain is seen as
a guardian and a resting place for ancestors. The recent legal recognition is
viewed as a step towards healing and restoring the connection between Māori
and their ancestral lands.
Historical Context:
Mount Taranaki has been a revered ancestor to the Māori for centuries. The
mountain is a dormant volcano, standing at 2,518 meters. Its name, Taranaki,
holds deep cultural significance.
The British colonisation in the 18th and 19th centuries led to the appropriation
of Māori land and resources. The Treaty of Waitangi, signed in 1840, was
intended to protect Māori rights but was often breached.

A23a Iceberg in Atlantic

Recently, A23a, the largest iceberg on record, began its journey in the South
Atlantic after detaching from the Filchner Ice Shelf in Antarctica. This colossal
iceberg weighs approximately one trillion tons and spans about 400 square
miles. Its movement raises concerns about potential ecological impacts on
South Georgia Island, a remote territory known for its rich wildlife, particularly
seals and penguins.
Background of A23a
A23a remained stationary on the ocean floor for 37 years before its release in
1986. Recent changes in ocean currents have propelled it approximately 300
kilometers towards South Georgia Island. Experts predict that the iceberg could
collide with the island within two to four weeks, depending on the ocean
currents and its trajectory.

Panama Withdraws from Belt and Road Initiative (BRI)

Recently, Panama officially withdrew from China’s Belt and Road Initiative
and this move signals Panama’s intent to reaffirm its sovereignty over
the Panama Canal. President Jose Raul Mulino declared that the canal’s control
is not negotiable. This decision follows warnings from former US President
Donald Trump about the potential US takeover of the canal.
US President Trump claimed that Panama had ceded control of the canal to
China. He accused Panama of breaching neutrality agreements. Trump’s
statements included allegations of Chinese military presence at the canal.
The Panama Canal is source of revenue for the Panamanian government. Toll
revenues increased by nearly 26% from 2020 to 2023. Trump has criticised the
tolls as excessively high for American ships. Panama insists that tolls are set
transparently and are based on demand.

Background of the Panama Canal

 The Panama Canal is an 82-kilometre artificial waterway connecting the
Pacific and Atlantic Oceans. It is crucial for international shipping.
 The canal saves ships from a lengthy journey around South America. Over
two-thirds of the canal’s traffic is linked to the United States.
 The US built the canal in the early 20th century, transferring control to
Panama in 1999.The US transferred control to Panama under treaties
signed in 1977. These treaties guaranteed the canal’s permanent neutrality
and Panama’s sovereignty.
Mission 3000
Indian Railways is striving to enhance its freight loading capabilities under the
ambitious Mission 3000 plan. This initiative aims to achieve a cargo volume of
3,000 million tonnes (MT) by 2030. Despite facing criticism for its slow
progress, Union Railways Minister Ashwini Vaishnaw remains optimistic about
meeting the targets. The ministry anticipates increases in freight volumes
through various infrastructure projects.
Indian Railways is projected to surpass 1,600 MT of cargo for the first time this
financial year. However, it needs to nearly double its output within five years to
meet the Mission 3000 target.