The Reserve Bank of India (RBI) and the Bank of Mauritius (BoM) have signed an MoU to promote the use of the Indian Rupee (INR) and Mauritian Rupee (MUR) in cross-border transactions.

• Objective: Enhance bilateral trade by enabling the use of INR and MUR for invoicing and settlement of transactions.

Key Features:

• Covers all current account and agreed capital account transactions.
• Enables the development of a market in the INR-MUR currency pair.
• Significance: Strengthens trade relations, deepens financial integration, and bolsters economic ties between India and Mauritius.
• Signatories: RBI Governor Sanjay Malhotra and BoM Governor Rama Krishna Sithanen.

The World Happiness Report 2025, published by the Wellbeing Research Centre at the University of Oxford, highlights global happiness rankings and notable trends.

Key Details

• Top Rankings: Finland is the happiest country in the world for the 8th consecutive year, followed by other Nordic nations like Denmark, Iceland, and Sweden.
• India’s Position: Ranked 118th, below Pakistan (109th), reflecting differences in social support despite economic challenges.
• New Entrants in Top 10: Costa Rica (6th) and Mexico (10th) joined the top 10 for the first time.

Declines:

• United States: Ranked 24th, its lowest-ever position, due to increasing social isolation.
• United Kingdom: Ranked 23rd, its lowest score since 2017.
• Bottom Rankings: Afghanistan remains the unhappiest country (147th), followed by Sierra Leone, Lebanon, Malawi, and Zimbabwe. Afghan women reported especially harsh living conditions.

• The Bagad Yatra, a centuries-old festival, is being celebrated in Bavadhan village, Satara district, Maharashtra.

Key Details

• Date: Held annually on Phalgun Krishna Paksha Panchami (fifth day of the waning moon in Phalgun month).

Unique Rituals:

• Devotees participate by hanging from hooks on a high post, symbolizing faith and dedication.
• Participants fast for 5 days, consume only neem leaves on the festival day, and abstain from water.

Bagad (Chariot):

• Weighs 2-3 tons, made of acacia wood, and features stone wheels and intricate craftsmanship.
• The “Aladandi” (pole) is made of sandalwood.
• Drawn exclusively by Khillar bullocks.
• Cultural Significance: Celebrated for over 800 years, the festival represents agrarian traditions and spiritual devotion, attracting hundreds of pilgrims from across Maharashtra.

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Revised Rashtriya Gokul Mission (RGM) with an enhanced financial outlay of ₹3,400 crore under the 15th Finance Commission cycle (2021-26), including an additional ₹1,000 crore.

Key Objectives:

• Enhance milk production, genetic improvement, and farmer incomes.
• Preserve and improve indigenous bovine breeds through scientific interventions.

New Initiatives:

• Heifer Rearing Centres: ₹35% one-time assistance for housing 15,000 heifers.
• Interest Subvention: 3% for loans on High Genetic Merit (HGM) IVF heifers.

Achievements:

• 55% increase in milk production over the last decade.
• Per capita milk availability rose to 471 grams/day in 2023-24.
• 39 crore animals covered under the Artificial Insemination Programme (AI).
• 2541 High Genetic Merit calves born through IVF.

Technological Innovations:

• Gau Chip & Mahish Chip: Genomic tools for bovine improvement.
• Gau Sort: Indigenously developed sex-sorted semen technology.
• Impact: Benefits 8.5 crore farmers engaged in dairy farming.

Current Context: The APAAR ID, introduced under the National Education Policy (NEP) 2020, aims to streamline student records but has raised concerns over Aadhaar linkage, data privacy, and potential mandate issues.

Key Facts:

• Objective: Establish a “One Nation, One Student ID” system to standardize academic records and link them to DigiLocker and Academic Bank of Credits.
• Implementation: Schools upload data, while higher education and skill institutions access verified records for admissions and recruitment.

Concerns:

• Aadhaar Linkage Issues: Spelling mismatches complicating data updates.
• Mandate Concerns: CBSE’s push for 100% APAAR enrolment contradicts Supreme Court rulings against mandatory Aadhaar for basic education access.
• Data Privacy Risks: Inadequate safeguards for minors’ sensitive data; potential non-compliance with Data Protection Act, 2023 (requires free and informed consent).

• India has been invited to join the multilateral alliance, Squad, aimed at countering China’s influence in the South China Sea.

About Squad

• Formation: Established in 2024, consisting of Australia, Japan, the Philippines, and the United States.
• Objective: Conduct joint maritime activities in the Philippines’ exclusive economic zone in the South China Sea to address strategic tensions and counter China’s growing influence.
• Expansion Plan: Plans to invite India and South Korea to enhance its scope and strategic impact.

India’s Current Position

• India is a member of Quad, an informal grouping with the US, Japan, and Australia, focusing on maintaining a strategic balance and countering China’s dominance in the broader Indo-Pacific region.
• Difference: While Quad operates at a broader, strategic level in the Indo-Pacific, Squad focuses specifically on the South China Sea region.

• Kirsty Coventry, a legendary swimmer from Zimbabwe, has been elected as the first female and first African President of the International Olympic Committee (IOC).
• Her historic appointment breaks barriers in the IOC’s 130-year history, representing progress and inclusivity in global sports leadership.

• World TB Day is observed annually on March 24 to raise awareness about tuberculosis (TB).
• Marks the discovery of Mycobacterium tuberculosis by Dr. Robert Koch in 1882.
• TB remains a major global health challenge despite advancements in treatment.
• Theme for 2025: “Yes! We Can End TB.”

• World Meteorological Day 2025 will be celebrated worldwide on 23 March.
• The theme for 2025 is “Closing the Early Warning Gap Together”.
• Events will be organized by National Meteorological and Hydrological Services (NMHSs) globally.
• A special ceremony will be held at the WMO Headquarters to mark the occasion.

• Martyr’s Day (Shaheed Diwas) is observed in India on January 30 and March 23.
• January 30 honors Mahatma Gandhi’s memory, marking the day of his assassination in 1948.
• March 23 commemorates the martyrdom of Bhagat Singh, Shivaram Rajguru, and Sukhdev Thapar, who were hanged by the British in 1931.