Daily Current Affairs 11-April-25
1. India Ends Trans-Shipment Facility for Bangladesh –
• India has ended the 2020 transshipment facility that allowed Bangladeshi exports to pass through its ports and airports. This decision comes after Bangladesh’s remarks in China, where it described Northeast India as ‘landlocked’ and positioned itself as the ‘guardian of the ocean’ for the region, as well as a strategic gateway for China’s influence in Northeast India.
• Note: The transshipment facility for Bangladesh, introduced by India in 2020, allowed Bangladeshi exporters to use Indian Land Customs Stations (LCSs) to transport goods to third countries like Bhutan, Nepal, and Myanmar.
• This arrangement aimed to streamline trade flows, reduce logistical costs, and benefit Bangladesh’s readymade garment (RMG) sector by cutting transit costs and time.
• Why did India Withdraw Transshipment Facility for Bangladesh-
• Industry Pushback: The Apparel Export Promotion Council (AEPC) lobbied for the facility’s removal.
• India and Bangladesh are direct competitors in global textile markets, especially in the RMG sector (China ranks 1st, Bangladesh 2nd, and India 6th in global garment exports).
• Indian exporters argued that the facility favored Bangladesh, hurting India’s market share and logistics infrastructure.
• Rising Air Freight Costs: Sharp increases in freight rates to destinations like the US and Europe prompted calls to reduce external cargo burden on Indian facilities.
• China Factor: India’s move reflects its strategic unease over China’s growing presence near the Siliguri Corridor (Chicken Neck corridor), where Bangladesh has invited Chinese investment in the Lalmonirhat Airbase, close to India’s northeastern frontier.
• The Northeast region, known as the “Seven Sisters,” is connected to mainland India through the narrow Siliguri Corridor. It shares international borders with Bangladesh, Bhutan, Myanmar, China and Nepal, making it highly geopolitically sensitive.
2. Kerala & Tamil Nadu Unite for Nilgiri Tahr Census 2025 –
• In a major collaborative conservation effort, the states of Kerala and Tamil Nadu are set to conduct a synchronised Nilgiri Tahr census from April 24 to 27, 2025.
• This joint operation is being undertaken to mark the 50th anniversary of Eravikulam National Park, home to the largest known population of the Nilgiri Tahr, a vulnerable and endemic species of the Western Ghats.
• With over 265 census blocks and 1,300 team members participating, this extensive exercise aims to scientifically estimate the Tahr population using modern methods like camera traps, pellet sample analysis, and the bounded count technique.
3. Japan Builds World’s First 3D-Printed Train Station in Record Time –
• In a remarkable engineering feat, West Japan Railway Company (JR West) has constructed the world’s first 3D-printed train station, assembling it in under six hours in Arida City, Wakayama Prefecture.
• Named Hatsushima Station, the new structure replaces an aging wooden facility dating back to 1948 and demonstrates the potential of 3D printing to revolutionize public infrastructure.
4. China Announces 84% Tariffs on US Goods in Response to Trade War Escalation –
• The trade war between the United States and China has escalated dramatically, with China announcing a sharp increase in retaliatory tariffs. In response to the Trump administration’s 104% tariffs on Chinese imports, China has raised its tariffs on US goods to as high as 84%, marking a significant intensification of the trade dispute.
• This escalation has led to a series of countermeasures, including export controls, the addition of US companies to a blacklist, and a complaint filed with the World Trade Organization (WTO).
5. Juspay Becomes India’s First Unicorn of 2025: $1 Billion Valuation Achieved –
• Bengaluru-based payments infrastructure provider Juspay has become India’s first unicorn of 2025 after securing $60 million in a Series D funding round. Led by Kedaara Capital, with participation from existing backers SoftBank and Accel, the funding round has pushed Juspay’s valuation past the $1 billion mark.
• Despite raising less than earlier projections of $150 million, this marks a significant milestone for India’s fintech ecosystem. Juspay is now setting its sights on enhancing its technology stack through AI and expanding into international markets.
Key Highlights of Juspay’s Unicorn Status
• Funding Details
• Amount Raised: $60 million
• Funding Round: Series D
• Lead Investor: Kedaara Capital
• Other Participants: SoftBank and Accel
• Structure: Combination of primary and secondary components
• Initial Target: Up to $150 million (scaled back)
MCQ Quiz
Q1. Which banks reduced their lending rates immediately following the RBI’s repo rate cut ?
a) SBI and PNB
b) ICICI Bank and HDFC Bank
c) Bank of India and UCO Bank
d) Axis Bank and Kotak Mahindra Bank
Q2. Recently, the Mahavir Jayanti, the birth anniversary of the 24th and last Jain Tirthankar, Lord Mahavir, is observed across the country on April 11. It was celebrated in which Hindu calendar month ?
a) Chaitra
b) Vaishakha
c) Kartik
d) Magha
Q3. What is the primary objective of the India-UK Free Trade Agreement (FTA) ?
a) To promote trade and investment by reducing tariffs and barriers
b) To increase agricultural subsidies in both countries
c) To regulate cryptocurrency trading
d) To improve military cooperation between India and the UK
Q4. Consider the following statements regarding the economic effects of a bear market:
• Declining household wealth during a bear market reduces consumer demand.
• Central banks usually respond by increasing benchmark interest rates.
• Companies may resort to layoffs and hiring freezes.
Which of the above statements are correct ?
a) 1 and 2 only
b) 1, 2, and 3
c) 2 and 3 only
d) 1 and 3 only
Explanation-
• Statements 1 and 3 are correct.
• Bear markets trigger wealth erosion, which reduces consumer confidence and spending, thereby depressing aggregate demand. In parallel, businesses face uncertain revenue streams and thus implement cost-cutting via hiring freezes or job cuts (statement 3).
• However, statement 2 is incorrect — during bear markets, central banks usually reduce interest rates or introduce quantitative easing to improve liquidity and boost growth. Raising rates would further depress investment and worsen financial conditions.
Q5. Match the constitutional articles with their relevance to the Governor’s assent case:
| A. Article 200 | 1. Options available to the Governor on a Bill
| B. Article 163 | 2. Requirement to act on Ministerial advice
| C. Article 142 | 3. Supreme Court’s power to do complete justice
| D. Article 201 | 4. Provision for President’s assent on reserved Bills
Select the correct answer code:
a) A-1, B-2, C-3, D-4
b) A-2, B-1, C-4, D-3
c) A-3, B-4, C-1, D-2
d) A-4, B-3, C-2, D-1
Explanation-
• Each article’s role:
• Article 200: Allows the Governor to assent, withhold, return (once), or reserve a Bill.
• Article 163: Establishes that the Governor must act on the advice of the Council of Ministers except in matters with discretion.
• Article 142: Empowers the Supreme Court to do complete justice, invoked here to ensure executive compliance.
• Article 201: Addresses what happens when the President’s assent is sought, post-reservation.