January 3rd Week Current Affairs for CDSE/OTA 2025: National, International, Banking, Defence & Science Updates

Current Affairs January 3rd Week: The third week of January 2025 has witnessed significant developments across various sectors, from national events and banking reforms to global diplomacy and defense advancements. India celebrated Army Day on January 15, honoring Field Marshal K.M. Cariappa, while January 16 was marked as National Startup Day.

In the financial sector, India is considering reducing its stake in five state-run banks, and the RBI has introduced liberalized norms to boost cross-border transactions in INR. Internationally, Indonesia joined BRICS, and China completed the world’s longest expressway tunnel. The Indian Armed Forces conducted Exercise Devil Strike, and the INS Mumbai participated in Multinational Exercise La Perouse.

In science and technology, Google unveiled its new quantum chip ‘Willow’, and India successfully tested Bhargavastra, a micro-missile system for countering drone threats. In sports, India made history by winning both men’s and women’s titles at the first-ever Kho Kho World Cup 2025, and Jasprit Bumrah was named ICC Men’s Player of the Month.

These key highlights reflect a week full of progress and strategic developments in India’s defense, economy, and international standing.

JANUARY 3RD WEEK CURRENT AFFAIRS: CDSE/OTA

IMPORTANT DAYS

• Army Day is celebrated on 15 January every year in India, in recognition of Lieutenant General Kodandera M. Cariappa’s (later who became Field Marshal) taking over as the first Commander-in-Chief of the Indian Army from General Francis Roy Bucher, the last British Commander-in-Chief of India, on 15 January 1949.
• Prime Minister Narendra Modi declared January 16 as National Startup Day in the year 2021.
• Tripura, Manipur, and Meghalaya Foundation Day is observed on the 21st January.

BANKING & FINANCE

• India is considering reducing its ownership in 5 state-run banks, including UCO Bank, Central Bank of India, Indian Overseas Bank, Bank of Maharashtra, and Punjab and Sind Bank, through stake sales or allowing the banks to sell shares to large investors.
• Bank of Baroda (BoB) raised Rs 5,000 crore through a 10-year infrastructure bond at a coupon rate of 7.23%.
• The Insurance Regulatory and Development Authority of India (IRDAI) has expanded the scope of its regulatory sandbox framework to encourage innovation, improve efficiency, and ease of doing business.
• Bank of India is raising its first dollar syndicated loan since 2012, with a target amount of $400 million.
• According to a report by GlobalData, a leading data analytics and research company, 3 Indian banks – HDFC Bank, ICICI Bank, and State Bank of India (SBI) ranked in the top 25 global banks by market capitalization for Q4 2024:
  • HDFC Bank: Ranked 13th with a market cap of $158.5 billion.
  • ICICI Bank: Ranked 19th with a market cap of $105.7 billion.
  • SBI: Ranked 24th with a market cap of $82.9 billion.
• As per data provided by Association of Mutual Funds in India (AMFI), The monthly mutual fund SIP (Systematic Investment Plan) crossed the Rs 26,000 crore mark for the first time in December 2024, reaching Rs 26,459 crore, up from Rs 25,320 crore in November 2024.
• The Reserve Bank of India (RBI) announced liberalised norms on January 16, 2025 to encourage the use of the Indian Rupee (INR) and other local/national currencies for settling cross-border transactions.

NATIONAL NEWS

• The Kashi Tamil Sangamam 2025 Event will be held on February 15-24, 2025.
• Union Minister of Commerce & Industry, Shri Piyush Goyal inaugurated the National Turmeric Board in New Delhi.
• The India Meteorological Department (IMD), under the Ministry of Earth Sciences, is celebrating a historic milestone of 150 years of dedicated service to the nation.
• India Energy Week (IEW) 2025, the government’s flagship oil and gas sector conference, will be held in New Delhi from February 11-14, 2025.
• The government has re-constituted the Atomic Energy Commission. T V Somanathan and Manoj Govil are among the new members.
• The Z-Morh Tunnel is a vital component of the Zojila Tunnel Project, aimed at providing year-round connectivity between Srinagar and Ladakh.
• The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the establishment of the 8th Pay Commission to revise salaries and allowances for central government employees and pensioners.
• To promote tourism and highlight India’s military heritage, the government has opened significant battlefields to visitors.
• As of July 2024, only 2,07,642 hotspots had been deployed, far below the target of 50 lakh by 2020 and 1 crore by 2022.
• The International Labour Organization (ILO) reported that global unemployment will remain at a historically low 5% in 2024, marking a steady recovery from the COVID-19 pandemic.
• The Protection and Enforcement of Interests in Aircraft Objects Act, 2024 aims to reduce the leasing and financing costs of aircraft for Indian airlines, ultimately resulting in lower airfares.
• The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the establishment of the Third Launch Pad (TLP) at the Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh.
• Union Minister for Communications Jyotiraditya Scindia announced that the Cabinet has approved the refarming of 687 MHz of spectrum from various government ministries to support the deployment of 5G and future 6G services.
• The Department of Telecommunications (DoT) has introduced two landmark initiatives—National Broadband Mission (NBM) 2.0 and the Sanchar Saathi mobile application—to advance India’s digital infrastructure and strengthen telecom security.
• The National Health Authority (NHA) has requested the National Medical Commission (NMC) to instruct all medical colleges, government, and private hospitals to actively register patients for the Ayushman Bharat Digital Health Account (ABHA ID).
• Union Home Minister and Minister of Cooperation Amit Shah participated as the Chief Guest at the 20th Raising Day ceremony of the National Disaster Response Force (NDRF) in Vijayawada, Andhra Pradesh.
• Commerce Secretary Sunil Barthwal outlined the Indian government’s ambitious export goals, with a target of $1 trillion in exports by 2030.

INTERNATIONAL NEWS

• The Russian government-owned company Rosatom has shipped the 6th and final unit of the Kudankulam Nuclear Power Plant being set up in Kudankulam, Tirunelveli District, Tamil Nadu, on board a specialised ship from the seaport of Novorossiysk.
• Indonesia has been admitted as a full member of the BRICS bloc of developing economies, the group’s presiding country Brazil announced.
• China has completed the construction of the world’s longest expressway tunnel, known as the Tianshan Shengli Tunnel, located in the Xinjiang Uighur Autonomous Region.
• The United States Bureau of Industry and Security (BIS) removed three Indian organizations from its Entity List.
  • Indian Entities Removed:
    • Indian Rare Earths
    • Indira Gandhi Atomic Research Center (IGCAR)
    • Bhabha Atomic Research Centre (BARC), Mumbai, India
• Negotiations for the Free Trade Agreement (FTA) between India and Oman began in November 2023 and concluded in March 2024, but a request for review by Oman delayed its signing.
• On January 17, 2025, the Brazilian government, under its pro tempore presidency of BRICS, formally announced Nigeria’s inclusion as a partner country.
• Southern states are intensifying efforts to attract global investors at the annual World Economic Forum (WEF) meeting in Davos.

APPOINTMENTS/ RESIGNATIONS

• Justice Upadhyay, the Chief Justice of the Bombay High Court, has been appointed as the Chief Justice of the Delhi High Court.
• Lebanese President Joseph Aoun has appointed Nawaf Salam, a prominent diplomat and judge, as Lebanon’s new Prime Minister after securing majority support from the Lebanese parliament.
• The Reserve Bank of India (RBI) announced a reshuffle in the portfolios of its three remaining Deputy Governors on January 14, as Dr. Michael Debabrata Patra’s term is set to end on January 15.
• The Ministry of Communications is likely to reappoint Robert Jerard Ravi as the Chairman and Managing Director (CMD) of Bharat Sanchar Nigam Limited (BSNL).
• President Droupadi Murmu appointed Justice Krishnan Vinod Chandran, the Chief Justice of Patna High Court, as a judge of the Supreme Court on January 13, 2025.
• The government has appointed Ashok Chandra as the Managing Director (MD) and Chief Executive Officer (CEO) of Punjab National Bank (PNB) and Binod Kumar as the MD and CEO of Indian Bank.
• Justice Arun Mishra was appointed as the Ombudsman and Ethics Officer of the Board of Control for Cricket in India (BCCI).
• Former Army Chief V.K. Singh has been sworn in as the 25th Governor of Mizoram.
• Vineet Joshi (IAS) has assumed the role of Secretary of the Department of Higher Education under the Ministry of Education (MoE), at Shastri Bhawan, New Delhi.
• Sanjiv Ranjan, a senior Indian Foreign Service (IFS) officer from the 1993 batch, has been appointed as the next Secretary General of the Indian Ocean Rim Association (IORA).
• Alok Kumar Agarwal has been appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of Zurich Kotak General Insurance.
• The Centre has appointed Gyanendra Pratap Singh as the Director General of the Central Reserve Police Force (CRPF), according to a Personnel Ministry order issued on January 18, 2025.

AWARDS AND HONOURS

• Singapore President Tharman Shanmugaratnam presented the Honorary Citizen Award to Tarun Das in New Delhi.
• Professor Urbasi Sinha, a distinguished faculty member at the Raman Research Institute (RRI) in the Light and Matter Physics theme, has been honored with the Gates-Cambridge Impact Prize 2025 by the Bill & Melinda Gates Foundation in Cambridge, UK.

BOOKS AND AUTHORS

• Ghosh unveils his book Wild Fictions (Essays) with former foreign secretary, Shyam Saran, at India International Centre (IIC).

DEFENCE NEWS

• The Ministry of Defence (MoD) signed a contract with Bharat Dynamics Limited (BDL) for Medium-Range Surface-to-Air Missiles (MRSAM) for the Indian Navy.
• The Indian Armed Forces are set to conduct Exercise Devil Strike from January 16 to 19, 2025, a joint exercise involving the elite airborne soldiers from the Indian Army and the Indian Air Force.
• The Indian Naval Ship (INS) Mumbai, an indigenously designed and built guided missile destroyer, is participating in the 4th edition of the Multinational Exercise La Perouse.
• Prime Minister Shri Narendra Modi commissioned three advanced naval combatants:
  • INS Surat
  • INS Nilgiri
  • INS Vaghsheer
    at a ceremony held at the Naval Dockyard in Mumbai.

SCIENCE AND TECHNOLOGY

• Google has announced a significant advancement in quantum computing as it unveiled its next-generation chip called ‘Willow’.
• India successfully tested its first domestically developed micro-missile system, Bhargavastra, aimed at countering swarm drone threats.
• The Defence Research and Development Organisation (DRDO) successfully conducted field evaluation trials of the Nag Mark 2, a third-generation fire-and-forget anti-tank guided missile, at the Pokhran field range in Rajasthan.
• The New Glenn rocket is a heavy-lift launch vehicle which has been named after John Glenn, the NASA astronaut who was the first American to circle the Earth in 1962.
• Pixxel and Digantara launched satellites on board a SpaceX rocket, marking a new era for private space firms in India.
• The North Atlantic Treaty Organization (NATO) has launched a major maritime security operation called Baltic Sentry, in response to a series of suspicious incidents targeting critical undersea infrastructure in the Baltic Sea.
• A new observatory has been set up by the S.N. Bose Centre for Basic Sciences (SNBCBS), an autonomous institute of the Department of Science and Technology, atop Panchet Hill in the Garpanchakot area of Purulia district, West Bengal.
• India is bolstering its Pinaka multi-launch artillery rocket systems with significant orders, totalling Rs 10,200 crore for ammunition, which are expected to be cleared soon.

SPORTS NEWS

• The Services Sports Control Board (SSCB) retained their title at the 8th Elite Men’s National Boxing Championship, claiming their third consecutive championship victory.
• Former Saurashtra cricketer Sitanshu Kotak has been appointed as the batting coach for the Indian team for the upcoming India-England limited-overs series at home.
• Jasprit Bumrah has been honored with the ICC Men’s Player of the Month award for his stellar performances during India’s tour of Australia in December 2024.
• Novak Djokovic cemented his place in tennis history by playing his 430th Grand Slam match, surpassing Roger Federer’s previous record of 429 matches.
• India made history by winning both the men’s and women’s titles at the first-ever Kho Kho World Cup 2025, held at the Indira Gandhi Indoor Stadium.
• Mumbai’s iconic Wankhede Stadium marked its 50th anniversary with a star-studded celebration, featuring Indian cricket legends like Rohit Sharma, Sachin Tendulkar, and Sunil Gavaskar.
• At the India Open Super 750 badminton tournament held in New Delhi, Viktor Axelsen and An Se-young clinched the men’s and women’s singles titles.

OBITUARIES

• 1964 Ballon d’Or Winner & Manchester United’s 3rd Highest Goal Scorer Denis Law dies at 84.
• David Lynch, the iconic director renowned for his surreal and haunting vision of America, has passed away.

Frequently Asked Questions (FAQs) – January 3rd Week Current Affairs (CDSE/OTA)

Important Days

Q1: When is Army Day celebrated in India and why?
A: Army Day is celebrated on 15th January every year to honor Lieutenant General K.M. Cariappa, who became the first Commander-in-Chief of the Indian Army on 15th January 1949.

Q2: When was National Startup Day announced, and by whom?
A: Prime Minister Narendra Modi declared January 16 as National Startup Day in the year 2021.

Q3: Which states celebrate their Foundation Day on 21st January?
A: Tripura, Manipur, and Meghalaya celebrate their Foundation Day on 21st January every year.

Banking & Finance

Q4: Which five state-run banks is India considering reducing ownership in?
A: India is considering reducing its ownership in the following banks:

• UCO Bank
• Central Bank of India
• Indian Overseas Bank
• Bank of Maharashtra
• Punjab and Sind Bank

Q5: How much did Bank of Baroda raise through infrastructure bonds?
A: Bank of Baroda raised ₹5,000 crore through a 10-year infrastructure bond with a coupon rate of 7.23%.

Q6: What is the market capitalization rank of HDFC Bank globally?
A: HDFC Bank ranked 13th globally with a market capitalization of $158.5 billion in Q4 2024.

National News

Q7: When will the Kashi Tamil Sangamam 2025 event be held?
A: The Kashi Tamil Sangamam 2025 will be held from February 15 to February 24, 2025.

Q8: What milestone is the India Meteorological Department (IMD) celebrating?
A: The India Meteorological Department (IMD) is celebrating 150 years of service to the nation.

Q9: What is the purpose of the Z-Morh Tunnel?
A: The Z-Morh Tunnel is part of the Zojila Tunnel Project and aims to provide year-round connectivity between Srinagar and Ladakh.

International News

Q10: Which country was admitted as a full member of BRICS?
A: Indonesia has been admitted as a full member of BRICS.

Q11: Which three Indian entities were removed from the U.S. Bureau of Industry and Security’s Entity List?
A: The following Indian entities were removed:

• Indian Rare Earths
• Indira Gandhi Atomic Research Center (IGCAR)
• Bhabha Atomic Research Centre (BARC), Mumbai

Q12: Which country completed the world’s longest expressway tunnel?
A: China completed the construction of the world’s longest expressway tunnel, known as the Tianshan Shengli Tunnel, in Xinjiang Uighur Autonomous Region.

Appointments & Resignations

Q13: Who has been appointed as the Chief Justice of Delhi High Court?
A: Justice Upadhyay, the Chief Justice of the Bombay High Court, has been appointed as the Chief Justice of the Delhi High Court.

Q14: Who is the new Governor of Mizoram?
A: Former Army Chief V.K. Singh has been sworn in as the 25th Governor of Mizoram.

Q15: Who is the new Managing Director (MD) and CEO of Punjab National Bank (PNB)?
A: Ashok Chandra has been appointed as the MD and CEO of Punjab National Bank (PNB).

Awards & Honours

Q16: Who received the Honorary Citizen Award from Singapore?
A: Tarun Das received the Honorary Citizen Award from Singapore President Tharman Shanmugaratnam in New Delhi.

Q17: Who won the Gates-Cambridge Impact Prize 2025?
A: Professor Urbasi Sinha of the Raman Research Institute (RRI) won the Gates-Cambridge Impact Prize 2025.

Defence News

Q18: What is Exercise Devil Strike?
A: Exercise Devil Strike is a joint military exercise involving elite airborne soldiers from the Indian Army and the Indian Air Force, conducted from January 16 to 19, 2025.

Q19: Which three naval combatants were commissioned by Prime Minister Narendra Modi?
A: The three naval combatants are:

• INS Surat
• INS Nilgiri
• INS Vaghsheer

Q20: Which missile system did India test successfully?
A: India successfully tested the Nag Mark 2, a third-generation fire-and-forget anti-tank guided missile, developed by DRDO.

Science & Technology

Q21: What is Google’s next-generation quantum computing chip called?
A: Google’s next-generation quantum computing chip is called ‘Willow’.

Q22: What is Bhargavastra?
A: Bhargavastra is India’s first domestically developed micro-missile system, aimed at countering swarm drone threats.

Q23: Which space firms launched satellites on board a SpaceX rocket?
A: Indian space firms Pixxel and Digantara launched satellites on board a SpaceX rocket.

Sports News

Q24: Which team won the 8th Elite Men’s National Boxing Championship?
A: The Services Sports Control Board (SSCB) won the 8th Elite Men’s National Boxing Championship, claiming their third consecutive championship victory.

Q25: Who won the Player of the Month award for December 2024?
A: Jasprit Bumrah was honored with the ICC Men’s Player of the Month award.

Q26: What historical achievement did India make in the Kho Kho World Cup 2025?
A: India won both the men’s and women’s titles at the first-ever Kho Kho World Cup 2025, held at the Indira Gandhi Indoor Stadium.

Obituaries

Q27: Who was Denis Law, and what was his contribution to sports?
A: Denis Law was the 1964 Ballon d’Or Winner and Manchester United’s third-highest goal scorer, who passed away at the age of 84.

Q28: Who was David Lynch, and why was he famous?
A: David Lynch was an iconic film director known for his surreal and haunting vision of America, who passed away recently.