SOCH Synopsis of Current Headlines

3rd May 2025

Synopsis of Current Headlines

SOCH comprises all the important daily newspaper articles and
PIB related to the syllabus of banking and regulatory body
examinations. Besides, after every article, you'll also find a
concise summary of the news that will help you to get a gist of
the topic through pointers. However, it should not be considered
as a substitute of daily current affairs for the General Awareness
section of any exam. For that you'll have to refer to daily or
monthly current affairs compilations as per your convenience.

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 India–Pakistan Visa & Tourism Snapshot
Visa Suspension (Post-Pahalgam Attack)
 All existing valid visas for Pakistani nationals
revoked from 27 April 2025 (except medical
visas for two more days).
 Long-term, diplomatic, and official visas
(including those for Hindu Pakistanis) remain
valid.

Cross-Border Visitor Trends

Year Pakistanis → India Indians → Pakistan
2001 53 000 –
2015 124 924 –
2019 39 018 26 698
2023 28 329 17 405
 Pakistan-to-India arrivals peaked in 2015,
declined pre-pandemic, and dropped further to
~28 000 in 2023.
 India-to-Pakistan flows similarly declined from
~26 700 (2019) to ~17 400 (2023).

Average Duration of Stay

Year Pakistanis in India Indians in Pakistan
(days) (days)
2017 28.4 –
2020 – 52.4
2023 76.4 28.4
 Pakistani visitors’ average stay in India
increased from 28.4 days (2017) to 76.4 days
(2023).
 Indians’ stay in Pakistan fell from 52.4 days
(2020) to 28.4 days (2023).

Purpose of Pakistani Visits to India (2016 vs. 2023)

Purpose 2016 (%) 2023 (%)
Business & Professional 10.3 1.8
Medical Treatment 6.35 0.9
Leisure, Holiday & Pilgrimage 12.31 29.4
Indian Diaspora Visits 1.73 0.4
Others* 69.31 67.5
 Business/medical travel share has significantly
declined since 2016.
 Leisure/pilgrimage share more than doubled,
reflecting rising tourism interest.
 “Others” encompass family visits, students,
diplomats, journalists, researchers, sportspeople,
and unspecified visa types.

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 Poonam Gupta Appointed RBI Deputy Governor
& MPC Member
 Appointment Details:
o Position: Deputy Governor, Reserve Bank of
India (effective 2 May 2025)
o Role: In charge of Monetary Policy
Department (succeeds Michael Patra) and sits
on the six-member Monetary Policy
Committee (MPC)
 Departments Overseen:
o Monetary Policy
o Financial Markets Operations
o Economic & Policy Research
o Financial Stability
o International Department
o Statistics & Information Management
o Corporate Strategy & Budget
o Communication
 Significance:
o Fourth woman to become RBI Deputy
Governor (after Usha Thorat, Shyamala
Gopinath, KJ Udeshi)
o Joins RBI as MPC has already cut repo rate by
25 bps in February and April; next review in
June
 Professional Background:
o Previously: Director General, National
Council of Applied Economic Research
(NCAER)
o International Experience: Senior roles at
IMF and World Bank (nearly two decades)
 Academic Credentials:
o Master’s in Economics, Delhi School of
Economics
o Ph.D. in Economics, University of Maryland,
USA

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 RBI Working Group Proposes Extended Call Money & Repo Timings
 Call Money Market
o Current Market Practice: Closes by 5 pm, limiting banks’ overnight-fund decisions.
o Recommendation: Extend trading hours until 7:00 pm to enhance end-of-day flexibility and
balance-sheet management.
 Market Repo & Tri-Party Repo (TREP)
o Current Hours: Unsynchronised, typically ending earlier.
o Recommendation: Synchronise and extend both market repo and TREP trading until 4:00 pm.
 Liquidity Adjustment Facility (LAF) Auctions
o Current Slot: 10:00–10:30 am
o Recommendation: Advance to 9:30–10:00 am for smoother liquidity operations.
 Government Securities Market
o On-shore Hours: Remain unchanged.
o Off-shore Access: Permit non-resident G-sec trading 5:00 pm–11:30 pm, with T+1 reporting to
NDS-OM and T+2 settlement.
 Overnight Money Market Trends (2014–15 vs. 2024–25)
o Annual Turnover: ₹281 tn → ₹1 324 tn
o Daily Avg. Turnover: ₹1.17 tn → ₹5.52 tn
o Segment Shares (Daily Average): TREP 69 %, Market Repo 29 %, Call Money 2 % (down from
13 %)

1. Record Export Milestones in FY 2024–25

 Total Exports:
o US $ 824.9 bn, up 6.0 % from US $ 778.1 bn in FY 2023–24
 Services Exports:
o US $ 387.5 bn (+ 13.6 % YoY) — highest-ever annual services exports
o March 2025: US $ 35.6 bn (+ 18.6 % YoY vs. US $ 30.0 bn in Mar 2024)
 Non-Petroleum Merchandise Exports:
o US $ 374.1 bn, up 6.0 % from US $ 352.9 bn — record annual performance excluding petroleum
products

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2. Ageing with Dignity: Key Senior-Citizen Initiatives Launched at Rashtrapati Bhawan
 Unveiled Digital Platform:
o Senior Citizen Welfare Portal—one-stop access to schemes, healthcare, welfare services, and
updates
 New Infrastructure:
o Virtual inauguration of five Senior Citizen Homes in Tawang, Wokha, Vellore, Anakapalli, and
Nainital under the MWPSC Act
 MoU for Well-Being:
o Partnership with Brahma Kumaris to deliver mental-health, mindfulness, and intergenerational
enrichment programs
 Assistive Support:
o Rashtriya Vayoshri Yojana–backed distribution of aids and assistive devices to eligible senior
citizens
 Community Engagement:
o Interaction with “Unsung Heroes” (Padma awardees & senior contributors in various fields)
o Intergenerational pledge by students, officials, and invitees affirming respect, empathy, and duty
towards the elderly
 Underlying Vision:
o Reinforce India’s ethos of honoring its elders
o Promote active ageing—physical, emotional, and social well-being through inclusive policies and
community bonds

3. NITI Aayog & GAME Forge Place-Based Entrepreneurship Partnership

 Partnership Objective:
o Foster healthy, self-sustaining local entrepreneurship ecosystems across India through tailored,
place-based interventions.
 Pilot Locations:
o Nagpur, Visakhapatnam, and selected districts in Uttar Pradesh.
 Key Stakeholder Engagement:
o Government bodies, corporates, educational institutions, financial institutions, champion
entrepreneurs, and community organizations collaborate regionally.
 Core Interventions:
o Access to finance: Linking entrepreneurs with credit and investment channels
o Capacity-building: Training programs, mentorship, and peer networks
o Policy advocacy: Local regulatory reforms to ease business operations
o Community-driven initiatives: Leveraging local inputs to meet regional needs
 Strategic Approach:
o Bottom-up facilitation—co-create solutions with local entrepreneurs, understand on-the-ground
challenges, and co-develop support frameworks.
o Implement GAME’s proven methodologies for starting and scaling businesses.
 Expected Outcomes:
o Creation of thriving local ecosystems that generate widespread employment, drive inclusive
growth, and stimulate innovation.
 Leadership Insights:
o Ishtiyaque Ahmed (NITI Aayog): Emphasizes end-to-end collaboration and leveraging local
champions.
o Ketul Acharya (GAME): Highlights entrepreneurship as a transformative force and the mission to
mobilize millions of local ventures.
 About GAME:
o Established in 2018 to catalyze mass entrepreneurship.
o Has supported 300 000+ entrepreneurs via credit facilitation, market linkages, and place-based
programs.

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4. Enhancing Competitiveness of MSMEs in India
 Report Overview:
o Jointly prepared by NITI Aayog & Institute for Competitiveness (IFC)
o Blueprint for systemic reforms in financing, skilling, innovation, and market access
 Sector Focus:
o Textiles & Apparel, Chemicals, Automotive, Food Processing—each faces unique challenges in
technology, branding, and value-chain integration
 Finance & Credit:
o Formal credit access rose (2020–24):
 Micro & Small: 14 % → 20 %
 Medium: 4 % → 9 %
o Yet, only 19 % of MSME credit demand met by FY21; ₹80 lakh crore unmet
o CGTMSE expanded but needs revamp—calls for institutional collaboration and targeted guarantee
products
 Skilling & Human Capital:
o Large share of workforce lacks vocational/technical training
o Skill shortages impede productivity and scale-up
 Innovation & Technology Adoption:
o Underinvestment in R&D, quality, and branding limits global competitiveness
o Barriers include unreliable power, weak internet, and high tech-up costs
o Urgent need for cluster-based tech upgrades, marketing support, and awareness of state schemes
 Policy & Implementation Gaps:
o Multiple central and state MSME schemes exist but suffer from low awareness and weak
monitoring
o Recommendations:
 Stronger state-level design with adaptive, cluster-based frameworks
 Integrated data systems and stakeholder engagement in policy formulation
 Consistent monitoring and feedback loops
 Market Access & Global Value Chains:
o Advocate for digital marketing training, logistics partnerships, and direct market-linkage
platforms
o Special emphasis on unlocking potential in Northeast and Eastern regions

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