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Daily Current Affairs: 5 April 2025

Current affairs of 5 April 2025: China’s 34% Tariff on U.S. Goods and Rare Earth Curbs; India-EU FTA Push Amid US Reciprocal Tariffs; Cabinet Clears Rs 25,497 Cr: Railway Lines and Vibrant Villages-II, and 19 more topics. Key facts for every exam, with a quiz.

Take the quiz (15 questions)April 2025
22 TOPICSDaily CurrentAffairs5 April 2025In focus: China’s 34% Tariff on U.S. Goods and Rare…safalsetu.com

In this issue: 22 topics

National Affairs

  1. Khelo India Youth Games 2025: Bihar to Host in May

Government Schemes

  1. Cabinet Clears Rs 25,497 Cr: Railway Lines and Vibrant Villages-II
  2. Vibrant Villages Programme-II Approved with ₹6,839 Crore

Banking & Finance

  1. India Fintech Foundation: Proposed SRO for Fintechs Explained
  2. SDF Parking Hits ₹4.13 Trillion Record at RBI
  3. RBI Revised FEMA Draft on Exports and Gold Imports
  4. SIFs: PMS and AIF Firms Seek Mutual Fund Licences
  5. Securis Finance Gets NBFC Licence for Education Loans
  6. India Post and Nippon India MF: Doorstep KYC for Investors
  7. Wealthtech Startups Gullak and Stable Money Attract VC
  8. IndusInd Bank Q4 FY25 Deposit and Loan Slowdown
  9. India’s Bad Loan Crisis: Lessons from The Dirty Dozen
  10. LIC Rejects USTR Claim of Unfair Sovereign Guarantee

Economy

  1. MSMEs and US Tariffs: Credit Guarantee Push by Banks
  2. US Tariffs and India: SBI, UBS Warn of Disinflation Risk
  3. MSMEs Under Strain From US Reciprocal Tariffs
  4. US Tariffs and India’s FY26 GDP Growth Outlook

International Affairs

  1. China’s 34% Tariff on U.S. Goods and Rare Earth Curbs
  2. India-EU FTA Push Amid US Reciprocal Tariffs

Science & Technology

  1. Ferruaspis brocksi: 15-Million-Year-Old Fish Fossil in Australia

Environment & Ecology

  1. Star-Rating System for State EIA Authorities Withdrawn

Reports & Indexes

  1. UNCTAD Technology Report 2025: India 10th in Private AI Funds

National Affairs

Government Schemes

Banking & Finance

Economy

4. India Fintech Foundation: Proposed SRO for Fintechs Explained

  • India Fintech Foundation, a proposed SRO for fintechs (SROFT), was announced at Startup Mahakumbh in Delhi.
  • It has 100 fintech members; its legal standing is yet to be confirmed and RBI endorsement is key.
  • RBI has already recognised FACE (Fintech Association for Consumer Empowerment) as an SRO-FT.
  • India has 10,244 fintech entities; funding fell for 3 straight years to $1.9 billion in 2024.
Full notes and 3 MCQs ›
Economy

5. SDF Parking Hits ₹4.13 Trillion Record at RBI

  • Banks parked ₹4.13 trillion with RBI under the Standing Deposit Facility, the highest since its April 2022 introduction.
  • SDF offers collateral-free overnight deposits at 6.00%, which is 25 bps below the 6.25% repo rate.
  • Forex reserves rose to $665.4 billion as of March 28, a fourth straight weekly gain.
  • LAF surplus stood at ₹2.16 trillion.
Full notes and 3 MCQs ›
Economy

6. RBI Revised FEMA Draft on Exports and Gold Imports

  • The revised FEMA draft covers export and import transactions and aims at ease of doing business.
  • Exporters with over ₹25 crore unrealised for more than two years must export only against full advance or an irrevocable LC.
  • Advance remittances for importing gold or silver are not permitted.
  • Authorised dealers will have to update internal compliance protocols.
Full notes and 3 MCQs ›

Economy

Economy

16. MSMEs Under Strain From US Reciprocal Tariffs

  • Textiles, auto components and gems & jewellery MSMEs are most exposed to reciprocal tariffs; pharmaceuticals are exempt.
  • February 2025 credit: ₹7.84 trillion to micro and small units (up 9.7%) and ₹3.52 trillion to medium firms (up 18.1%).
  • Exports to the US are roughly 4% of GDP, so the direct macro impact is limited.
  • India's reciprocal tariff was cut by one percentage point to 26%.
Full notes and 3 MCQs ›
Economy

17. US Tariffs and India’s FY26 GDP Growth Outlook

  • US tariffs are expected to cut India's FY26 GDP growth by 20-40 basis points.
  • Budget estimate was 6.8%; Bank of Baroda sees 6.6% and Barclays 6.5%.
  • Tariff-sensitive items make up 9-11% of India's shipments to the US; electronics, machinery, gems and garments are most exposed.
  • Bank of Baroda estimates a 10% rupee fall adds 0.12-0.16% to WPI in the short run and 0.38-0.49% over time.
Full notes and 3 MCQs ›

International Affairs

Economy

19. India-EU FTA Push Amid US Reciprocal Tariffs

  • The US imposed reciprocal tariffs of 26% on India and 20% on the EU.
  • The 11th India-EU FTA round is set for the week of 5 May in Delhi; the 10th ended in Brussels in March.
  • In FY24, India's exports to the EU were $75.9 billion and imports $61.5 billion.
  • Both sides aim to conclude the FTA by the end of 2025.
Full notes and 3 MCQs ›

Science & Technology

Environment & Ecology

20. Ferruaspis brocksi: 15-Million-Year-Old Fish Fossil in Australia

  • Ferruaspis brocksi is a new freshwater fish fossil about 15 million years old, found at McGraths Flat, New South Wales.
  • It belongs to Osmeriformes, the group with modern smelts and graylings, and is the first of its group found in Australia.
  • The Miocene saw Australia change from humid and lush to increasingly arid.
  • McGraths Flat also yielded a giant trapdoor spider, five times larger than current mainland species.
Full notes and 3 MCQs ›

Environment & Ecology

Reports & Indexes

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