Daily Current Affairs – 04 April 2025
Economic Developments
1. RBI's Liquidity Management Reform Proposal
Indian banks have proposed that the Reserve Bank of India (RBI) switch from the current 14-day variable rate repo to an overnight fixed-rate liquidity tool. This shift aims to help banks manage their liquidity better, aligning with the modern 24-hour banking system.
2. Impact of U.S. Tariffs on India's Economy
The United States has imposed 26% tariffs on certain imports, projected to slow India's GDP growth by 20-40 basis points in 2025-26. Economic analysts believe this may prompt the RBI to introduce further interest rate cuts.
3. Services Sector Growth Moderation
India's services sector saw a slight slowdown in March 2025, with the HSBC India Services PMI decreasing to 58.5 from 59.0 in February.
Environmental Alert
4. IMD Forecasts Above-Normal Temperatures in April
The India Meteorological Department (IMD) predicts above-normal temperatures across most regions of the country, raising concerns about heatwaves and water shortages.
International Relations
5. China Advocates Stronger Ties with India
On the 75th anniversary of diplomatic relations, Chinese President Xi Jinping called for deeper cooperation between China and India.
Appointments
6. Ravneet Kaur Given Additional Charge of NFRA
The Indian government appointed Ravneet Kaur, Chairperson of the CCI, as the temporary Chairperson of NFRA for three months.
Legislative Developments
7. Passage of Immigration and Foreigners Bill, 2025
The Indian Parliament passed the Immigration and Foreigners Bill, 2025, aiming to modernize immigration laws and enhance security.
Important Observances
8. International Day for Mine Awareness
April 4 is observed globally as the International Day for Mine Awareness with the theme "Safe Futures Start Here."
Conclusion
April 4, 2025, marked significant developments in economic policies, international relations, and legislative matters. Stay tuned for more updates.