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Daily Current Affairs: 24 April 2025

Current affairs of 24 April 2025: India-Saudi Arabia Plan Two Refineries and Energy Stability; Indus Waters Treaty Put in Abeyance: Provisions and Other Steps; Air Pollution Sources in India: Pollutant-wise Breakdown, and 19 more topics. Key facts for every exam, with a quiz.

Take the quiz (15 questions)April 2025
22 TOPICSDaily CurrentAffairs24 April 2025In focus: India-Saudi Arabia Plan Two Refineries…safalsetu.com

In this issue: 22 topics

National Affairs

  1. Judicial Review and Article 142: Role of the Supreme Court
  2. INDIA STEEL 2025: PM Modi Sets 300 MT Output Goal for 2030

Banking & Finance

  1. NPCI Netbanking 2.0: New Payments Switch by NBBL
  2. RBI MPC April 2025: Repo Rate Cut by 25 bps, Accommodative Stance
  3. Moody’s on IndusInd Bank and Yes Bank: Rating Review
  4. Life Insurers’ New Business Premium Up 5.13% in FY25
  5. SEBI Bars Madhav Stock Vision Over Front-Running
  6. Letter of Engagement: SEBI RIA Rules and Key Concepts
  7. SEBI Revises NAV Cut-off for Overnight Fund Redemptions
  8. RBI Cancels Ajantha Urban Co-operative Bank Licence
  9. AU SFB Concierge Perks, Ratings and Leadership Facts

Economy

  1. Tax Demands on Foreign SaaS Firms: FTS and Double Taxation
  2. World Bank Lowers India’s FY25 Growth Forecast to 6.3%

International Affairs

  1. India-Saudi Arabia Plan Two Refineries and Energy Stability
  2. Indus Waters Treaty Put in Abeyance: Provisions and Other Steps

Agriculture & Rural

  1. NABARD Takes 10% Stake in eKisanCredit Operator 24×7 Moneyworks
  2. eNAM-Mandi Integration Lifts Farmers’ Price Realisation

Science & Technology

  1. Dark Matter Puzzle of Galaxy NGC 1052-DF2: IIA Study
  2. Lipid-Protein Co-Evolution: CSIR-CCMB Study on Respiratory Complex 1

Environment & Ecology

  1. Air Pollution Sources in India: Pollutant-wise Breakdown
  2. India’s National Adaptation Plan: First Climate Adaptation Framework
  3. Global Coral Bleaching: 84% of Reefs Hit

National Affairs

Banking & Finance

Economy

6. Life Insurers’ New Business Premium Up 5.13% in FY25

  • Life insurers' new business premiums rose 5.13% to ₹3.97 trillion in FY25, against 2% growth a year earlier.
  • LIC's NBP grew 1.86% to ₹2.27 trillion (57% share); private insurers grew 9.8% to ₹1.71 trillion.
  • IRDAI's revised surrender value norms took effect from October 1, 2024.
  • ICICI Prudential Life posted the fastest growth among listed leaders at 24.9%; SBI Life fell 7%.
Full notes and 3 MCQs ›
Banking & Finance

8. Letter of Engagement: SEBI RIA Rules and Key Concepts

  • Under SEBI's Investment Advisors Regulations, 2013, registered investment advisors must sign a Letter of Engagement before advising or collecting fees.
  • An engagement letter is written, legally binding once signed, simpler than a contract and sets scope, terms and costs.
  • It is usually drafted by the service provider and reissued whenever services or fees change; long relationships update it yearly.
Full notes and 3 MCQs ›

Economy

Economy

12. Tax Demands on Foreign SaaS Firms: FTS and Double Taxation

  • Microsoft, Amazon, Google, Oracle, IBM and Salesforce received fresh assessment orders for FY 2021-22 and 2022-23.
  • The department classified Indian revenue as Fees for Technical Services, taxed at 15% under the India-US DTAA.
  • Companies fear double taxation because they had already paid the equalisation levy.
  • A 2021 Supreme Court ruling in the Engineering Analysis case held off-the-shelf software payments are not royalty.
Full notes and 3 MCQs ›

International Affairs

Agriculture & Rural

Science & Technology

Environment & Ecology

Government Schemes

21. India’s National Adaptation Plan: First Climate Adaptation Framework

  • India will submit its first National Adaptation Plan to the UNFCCC by September, linking efforts to the Paris Agreement.
  • Unlike the NAPCC, which stressed mitigation, the NAP centres on adaptation across economic, social and environmental aspects.
  • The MoEFCC is drafting it; sectoral frameworks are due by July. It covers nine thematic areas.
  • A report estimates adaptation needs above $1 trillion between 2015 and 2030.
Full notes and 3 MCQs ›

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15 questions from the news of 24 April 2025, with answers and explanations.

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