28 March 2025 Current Affairs

Stay ahead with 28 March 2025 current affairs for Judiciary, APO, and JLO exams, covering the DRDO and Indian Navy’s successful VLSRSAM test, Nitesh’s bronze at the Asian Wrestling Championship, RBI penalties on HDFC Bank, and more. This blog provides detailed insights into defense, sports, banking, and education reforms to boost your 2025 exam preparation.

Introduction

Staying updated with 28 March 2025 current affairs is crucial for Judiciary, APO, and JLO aspirants preparing for 2025 exams, as these events often form the basis of general awareness questions in prelims, mains essays, and interview discussions. Today’s updates include the DRDO and Indian Navy’s successful test of the indigenous VLSRSAM, Nitesh’s bronze medal at the Senior Asian Wrestling Championship 2025, RBI’s penalties on HDFC Bank and Punjab & Sind Bank, a ₹6,900 crore defense deal for ATAGS, Himachal Pradesh’s education reforms with UNESCO, a $1.3 billion IMF loan for Pakistan, the EU’s MILEX 2025 in Hungary, new appointments at IFCI and Canara Bank, and B Sumeeth Reddy’s retirement from badminton. This blog provides a detailed overview of these developments, offering key insights for your exam preparation.

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1. DRDO & Indian Navy Successfully Test-Fire Indigenous VLSRSAM

The Defence Research and Development Organisation (DRDO) and the Indian Navy successfully conducted a flight-test of the indigenously developed Vertically-Launched Short-Range Surface-to-Air Missile (VLSRSAM) on March 28, 2025, from the Integrated Test Range (ITR) in Chandipur, Odisha.

Details of the Test

Launch Details: The missile was launched from a land-based vertical launcher against a high-speed aerial target at close range and low altitude, simulating a realistic combat scenario.
Performance: The VLSRSAM demonstrated its Near-Boundary-Low Altitude capability, destroying the target with high precision and agility, showcasing its effectiveness in intercepting threats.
Combat Configuration: The test involved all weapon system elements in combat configuration, including the indigenous Radio Frequency seeker, Multi-Function Radar, and Weapon Control System, ensuring operational readiness.
Validation: The system’s performance was validated through flight data captured by range instruments developed by ITR Chandipur, confirming its reliability and accuracy.

Significance

The successful test marks a significant milestone in India’s self-reliance in defense technology, aligning with the Make in India initiative.
The VLSRSAM enhances the Indian Navy’s air defense capabilities, providing a robust shield against aerial threats at close range, crucial for maritime security.

2. India Wins 2nd Bronze at Senior Asian Wrestling Championship 2025

India secured its second bronze medal at the Senior Asian Wrestling Championship 2025, held in Amman, Jordan, with Nitesh emerging victorious in the Greco-Roman category.

Details of the Achievement

Medalist: Nitesh won the bronze by defeating Amanberdi Agamammedov of Turkmenistan with a dominant 9-0 score in the Greco-Roman category.
Previous Medal: This follows Sunil Kumar’s bronze win in the men’s 87kg category, marking India’s second medal at the championship.

About the Senior Asian Wrestling Championship 2025

Organizing Body: United World Wrestling (UWW), the international governing body for wrestling.
Categories: The championship includes Greco-Roman, Freestyle, and Women’s wrestling events.
Participating Countries: Nations such as India, Iran, Kazakhstan, Japan, South Korea, Uzbekistan, Kyrgyzstan, China, Mongolia, and others participated.
Importance: The event serves as a qualifying event for the 2025 World Wrestling Championships and a platform for earning ranking points.
Previous Edition: The 2024 championship was held in Bishkek, Kyrgyzstan.

3. RBI Imposes Penalties on HDFC Bank and Punjab & Sind Bank

The Reserve Bank of India (RBI) imposed monetary penalties on HDFC Bank and Punjab & Sind Bank for non-compliance with regulatory guidelines, highlighting its commitment to enforcing banking norms.

Details of the Penalties

HDFC Bank: Fined ₹75 lakh for violations related to KYC norms, including:
- Failure to categorize customers into risk categories as per RBI guidelines.
- Allotting multiple customer identification codes instead of a Unique Customer Identification Code (UCIC), leading to potential gaps in customer tracking.
Punjab & Sind Bank: Fined ₹68.2 lakh for:
- Failing to report borrowers with non-fund-based exposure of ₹5 crore and above to the Central Repository of Information on Large Credits (CRILC).
- Allowing Basic Savings Bank Deposit Account (BSBDA) holders to open regular savings accounts, violating RBI norms on BSBDA restrictions.
Clarification: The RBI stated that these penalties are based on deficiencies in regulatory compliance and do not affect the validity of customer transactions or agreements.

About HDFC Bank

Full Name: Housing Development Finance Corporation Bank
Founded: 1994
Headquarters: Mumbai, Maharashtra, India
CEO: Sashidhar Jagdishan (as of 2025)
Merger: In 2023, HDFC Bank merged with HDFC Ltd, becoming India’s largest private sector bank by assets.

About Punjab & Sind Bank

Founded: 1908
Headquarters: New Delhi, India
CEO: Inderjeet Singh (as of 2025)
Ownership: A public sector bank, owned by the Government of India.

4. Defence Ministry Signs ₹6,900 Crore Deal for Towed Artillery Guns and Vehicles

The Ministry of Defence (MoD) signed contracts worth ₹6,900 crore for the procurement of 155 mm/52 calibre advanced towed artillery gun systems (ATAGS) and high-mobility 6×6 gun towing vehicles, bolstering the Indian Army’s capabilities.

Details of the Deal

Companies Involved:
- Bharat Forge Limited: Supplier of the ATAGS.
- Tata Advanced System Limited: Supplier of the high-mobility vehicles.
Significance:
- The ATAGS will replace vintage and smaller calibre guns, enhancing the Indian Army’s long-range firepower.
- This marks the first major procurement of towed guns from the private sector, strengthening the indigenous defense manufacturing ecosystem.
Economic Impact: The deal supports the Make in India initiative by promoting domestic manufacturing, creating jobs, and reducing import dependency.
Recognition: The ATAGS project director from DRDO’s Armament Research and Development Establishment (ARDE), Pune, was felicitated by the Defence Secretary for his role in the project.
Capital Procurement: With this deal, the MoD has signed contracts worth ₹1.4 lakh crore for capital procurement in FY 2024-25, reflecting a focus on modernizing defense infrastructure.

5. Himachal Pradesh Signs MoU with UNESCO for Education Reforms

The Himachal Pradesh Government signed a Memorandum of Understanding (MoU) with UNESCO to enhance the quality of education in the state, marking a significant step toward educational reform.

Details of the MoU

Signatories:
- Himachal Pradesh Government: Represented by Education Secretary Rakesh Kanwar.
- UNESCO: Represented by Director Tim Curtis and Chief of Education Program Specialist Joyce Poan.
Key Objectives:
- Modernization of Education: Improving teaching methods, curricula, teacher training, and assessment systems to align with global standards.
- 21st-Century Skills: Equipping students with critical thinking, creativity, collaboration, and communication skills to prepare them for future challenges.
- Greening Education: Integrating environmental awareness and sustainable development into school curricula to foster eco-conscious citizens.
- Value-Based Education: Promoting holistic development through sports and other activities to nurture well-rounded individuals.

About UNESCO

Full Name: United Nations Educational, Scientific and Cultural Organization
Founded: November 16, 1945
Headquarters: Paris, France
Director-General: Audrey Azoulay (as of 2025)
Member States: 194
Key Initiatives:
- World Heritage Sites preservation.
- Global Education Monitoring Report.
- Man and the Biosphere Programme (MAB).
India’s Relation:
- India is a founding member of UNESCO.
- As of 2025, India has 40 UNESCO World Heritage Sites, including cultural, natural, and mixed sites.

6. IMF Approves $1.3 Billion Loan Package for Pakistan

The International Monetary Fund (IMF) approved a $1.3 billion loan package for Pakistan under a 28-month agreement to support its climate adaptation efforts and economic stabilization.

Details of the Agreement

Loan Structure: The package is part of the $7 billion Extended Fund Facility (EFF) bailout programme.
Disbursement: With this approval, Pakistan will have access to approximately $1 billion, bringing the total disbursements under the EFF to around $2 billion.
Economic Impact:
- The loan aims to stabilize Pakistan’s economy, which was at risk of default due to severe financial strain.
- The IMF noted improvements in macroeconomic stability, with inflation declining to its lowest level since 2015 and stronger external balances.
Government’s Commitment: Muhammad Aurangzeb, Pakistan’s Federal Minister for Finance, emphasized the government’s commitment to structural reforms in taxation, energy, and state-owned enterprises (SOEs) to ensure long-term stability.
IMF Caution: The IMF warned of potential risks from geopolitical shocks, rising protectionism, and tightening global financial conditions, urging Pakistan to focus on climate resilience, public finance improvement, and price stability for sustainable growth.

About the IMF

Full Name: International Monetary Fund
Founded: December 27, 1945
Headquarters: Washington, D.C., USA
Managing Director: Kristalina Georgieva (as of 2025)
Member Countries: 190
Lending Programs:
- Extended Fund Facility (EFF): Medium- to long-term financial support for countries facing prolonged balance of payments issues.
- Stand-By Arrangement (SBA): Short-term financial assistance for temporary balance of payments problems.
- Rapid Financing Instrument (RFI): Quick financial aid for urgent balance of payments needs during crises.

7. Hungary Hosts EU’s Largest Military Exercise, MILEX 2025

Hungary is hosting the European Union’s largest military exercise, MILEX 2025, from March 25 to April 10, 2025, aimed at enhancing defense capabilities and international cooperation.

Details of the Exercise

Objective:
- Test the land-based operational capabilities of EU battle groups in real-life conditions.
- Focus on rapid response, coordination, and international cooperation among member states.
Participants: Over 900 soldiers from Hungary, Poland, Germany, Belgium, Austria, Ireland, Spain, France, Croatia, Lithuania, and Latvia, led by the EU multinational military unit EUROCORPS, with active participation from the Hungarian Gidrán Rifle Company.
Locations: Pápa Air Base and the Central Shooting and Training Range in Hungary.
Significance:
- Based on the EU Strategic Guidelines 2022 to strengthen defense capabilities.
- Plays a key role in developing the European Defense Industrial Strategy and enhancing the effectiveness of future international operations.

8. Government Appoints Rahul Bhave as MD and CEO of IFCI for Three Years

The Appointments Committee of the Cabinet (ACC), headed by the Prime Minister, approved the appointment of Rahul Bhave as Managing Director (MD) and CEO of the Industrial Finance Corporation of India (IFCI).

Details of the Appointment

Tenure: Bhave will serve for three years from the date of assuming office.
IFCI Overview:
- Founded: July 1, 1948
- Headquarters: New Delhi, India
- Role: IFCI was established as the first development financial institution in India to provide long-term finance to industrial projects.
- MD & CEO: Rahul Bhave (as of 2025)

Recent Merger Proposal

Consolidation of IFCI Group: In November 2024, the Finance Ministry approved the consolidation of the IFCI Group to streamline operations and enhance efficiency.
Merger Details:
- Merging with IFCI Ltd: StockHolding Corporation of India Ltd, IFCI Factors Ltd, IFCI Infrastructure Development Ltd, and IIDL Realtors Ltd will merge into IFCI Ltd.
- Single Entity Merger: StockHolding Services Ltd, IFCI Financial Services Ltd, IFIN Commodities Ltd, and IFIN Credit Ltd will merge into one entity as a direct subsidiary of the consolidated IFCI.
- Direct Subsidiaries of Consolidated IFCI: StockHolding Document Management Services Ltd, StockHolding Securities IFSC Ltd, IFIN Securities Finance Ltd, IFCI Venture Capital Funds Ltd, and MPCON Ltd will remain direct subsidiaries.

9. Canara Bank Appoints S K Majumdar as Executive Director

Canara Bank, a Bengaluru-based public sector bank, appointed S K Majumdar as its Executive Director, strengthening its leadership team.

Details of the Appointment

Previous Role: Majumdar served as the Chief Financial Officer (CFO) of Canara Bank prior to this appointment.
Experience: He has been associated with Canara Bank since January 2000, holding various positions across branches and administrative offices, contributing significantly to key functional areas.
Recent Appointment: In February 2025, Madhavankutty G was appointed as the Chief Economist of Canara Bank.

About Canara Bank

Founded: July 1, 1906
Founder: Ammembal Subba Rao Pai
Headquarters: Bengaluru, Karnataka, India
CEO & MD: K Satyanarayana Raju (as of 2025)
Major Merger: Merged with Syndicate Bank in April 2020, making it the fourth-largest public sector bank in India.

10. Commonwealth Games Medallist B Sumeeth Reddy Retires from Professional Badminton

B Sumeeth Reddy, an Indian doubles badminton player, announced his retirement from professional badminton to focus on coaching, marking the end of a distinguished career.

Achievements

Commonwealth Games: Part of the 2022 Commonwealth Games mixed team that won the silver medal.
World Ranking: Partnered with Manu Attri in men’s doubles, reaching a world ranking of 17.
South Asian Games: Won gold at the 2016 South Asian Games.
Olympics: Qualified for the 2016 Rio Olympics.
Asian Games: Represented India at the 2014 and 2018 Asian Games.
Notable Titles:
- 2015 Mexico City Grand Prix: Winner
- 2016 Canada Open: Winner
- 2015 US Open and Dutch Open: Runner-up
- 2017 Syed Modi International: Runner-up (with Ashwini Ponnappa)

Relevance for Judiciary, APO, and JLO Aspirants

The 28 March 2025 current affairs provide valuable insights for Judiciary, APO, and JLO aspirants preparing for 2025 exams:

Prelims: Focus on factual details like the missile name (VLSRSAM), medalist (Nitesh), penalties (₹75 lakh for HDFC Bank), and contract value (₹6,900 crore).
Mains: Analyze broader themes such as defense self-reliance (VLSRSAM test), sports diplomacy (Asian Wrestling Championship), banking regulation (RBI penalties), education reforms (Himachal Pradesh-UNESCO MoU), and economic stabilization (IMF loan to Pakistan).
Interviews: Discuss the implications of these events on national security (ATAGS deal), public health (indigenous MRI), financial governance (IFCI merger), and international cooperation (MILEX 2025, IMF loan), showcasing a well-rounded understanding of contemporary issues.

Conclusion

The 28 March 2025 current affairs offer a wealth of information for Judiciary, APO, and JLO aspirants, covering the DRDO and Indian Navy’s successful VLSRSAM test, Nitesh’s bronze at the Senior Asian Wrestling Championship, RBI’s penalties on HDFC Bank and Punjab & Sind Bank, a ₹6,900 crore defense deal for ATAGS, Himachal Pradesh’s education reforms with UNESCO, a $1.3 billion IMF loan for Pakistan, the EU’s MILEX 2025 in Hungary, new appointments at IFCI and Canara Bank, and B Sumeeth Reddy’s retirement from badminton. These events provide critical insights into defense, sports, banking, education, and economic policy, helping candidates excel in prelims, mains, and interviews. Stay updated and integrate these developments into your preparation to succeed in your 2025 exams!

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FAQs

Which indigenously developed missile was successfully test-fired by DRDO and the Indian Navy?
The Vertically-Launched Short-Range Surface-to-Air Missile (VLSRSAM) was successfully test-fired from ITR Chandipur, Odisha.
Who won India’s second bronze medal at the Senior Asian Wrestling Championship 2025?
Nitesh won the bronze in the Greco-Roman category at the championship in Amman, Jordan.
Why did RBI impose a ₹75 lakh penalty on HDFC Bank?
The RBI imposed the penalty for violations related to KYC norms, including failure to categorize customers into risk categories.
Which two companies signed contracts with the Defence Ministry for ATAGS and towing vehicles?
Bharat Forge Limited (for ATAGS) and Tata Advanced System Limited (for high-mobility vehicles) signed the contracts.
What is the total value of the Defence Ministry’s contract for ATAGS and towing vehicles?
The contract is worth ₹6,900 crore.
Which international organization signed an MoU with Himachal Pradesh for education reforms?
UNESCO signed the MoU with the Himachal Pradesh Government.
What concept will be integrated into Himachal Pradesh’s school curricula under the UNESCO MoU?
Greening Education (environmental awareness and sustainable development) will be integrated into the curricula.
How much loan did the IMF approve for Pakistan under the 28-month agreement?
The IMF approved a $1.3 billion loan package for Pakistan.
Which country is hosting the EU’s largest military exercise, MILEX 2025?
Hungary is hosting MILEX 2025 from March 25 to April 10, 2025.
Who has been appointed as the MD and CEO of IFCI for three years in 2025?
Rahul Bhave has been appointed as the MD and CEO of IFCI for three years.