6 March 2025 daily current affairs with GS| OMO RBI

March 6, 2025 Daily Current Affairs Summary - Honey Gs Academy (Comprehensive)

Revision of March 5th Current Affairs

Key Highlights from Previous Day

• EPIC Card Controversy: West Bengal CM's allegations on duplicate EPIC cards, EPIC card history (1993, T.N. Seshan, Elector Rules 1960), Voter ID importance.
• Crypto Strategic Reserve: USA as first country to announce national strategic reserve for cryptocurrencies.
• Austrian Chancellor: Christian Stocker appointed as new Chancellor of Austria.
• Payo-di Milk Bank: AIIMS Delhi launched Payo-di Milk Bank for infants in ICUs.
• English as US Official Language: Trump's approval (Note: Not highly important for exams).
• Copper & Cobalt Deal with Zambia: India and Zambia agreement for copper and cobalt exploration.
• Gurugram World Peace Center: India's first World Peace Center in Gurugram by Ahimsa Vishwa Bharati & Jainacharya Lokesh.
• Vantara Program: Reliance's animal rescue program in Jamnagar, led by Anant Ambani.
• Iceberg A23a Grounding: World's largest iceberg A23a stopped near South Georgia Island after drifting for 40 years.
• C3 Policy: Cities Coalition for Circularity launched at Asia Pacific Circular Economy Summit in Jaipur, for sustainable urban development.
• National Board for Wildlife Meeting: Key decisions including Dolphin Census (6327 total, 6324 Gangetic, 3 Indus), National Referral Center for Wildlife in Junagadh, Center of Excellence in Salim Ali Centre Coimbatore, Cheetah project expansion (Gandhi Sagar & Banni Grasslands), Asiatic Lion Census (16th).

March 6th, 2025 Daily Current Affairs

Economy & Finance

• Open Market Operations (OMO):
  • RBI to conduct Open Market Operations to increase liquidity in the economy.
  • RBI will purchase Government Securities (G-Sec) worth USD 21 billion.
  • This action is part of the Government Securities Acquisition Programme (G-SAP).
  • Objective is to boost economic growth by increasing money supply.
  • OMO involves RBI buying G-Sec to inject liquidity or selling G-Sec to absorb liquidity, influencing inflation and economic growth.
  • Using G-SAP instead of Repo Rate reduction to avoid immediate inflation spike and to protect savings interest rates.

Defense & Security

• Astra Mark-3 Missile:
  • Astra Mark-3 air-to-air missile officially named ‘Gaandivam’, after Arjuna’s bow from Mahabharata.
  • Air-to-air missile with Beyond Visual Range (BVR) technology, capable of evading enemy radars.
• OBOGS Technology for Tejas:
  • DRDO successfully tested On-Board Oxygen Generation System (OBOGS) on Tejas Light Combat Aircraft.
  • Developed with assistance from L&T (Larsen & Toubro).
  • OBOGS generates oxygen onboard, eliminating the need for pilots to carry heavy liquid oxygen cylinders at high altitudes.
  • Improves pilot efficiency during high-altitude operations.

Art & Culture

• 'Vividhata ka Amrit Mahotsav' - 2nd Edition:
  • 2nd edition of ‘Vividhata ka Amrit Mahotsav’ inaugurated at Rashtrapati Bhavan by the President.
  • Aims to promote the diverse arts and culture of South Indian states and UTs (Telangana, Andhra Pradesh, Tamil Nadu, Kerala, Karnataka, Puducherry, Lakshadweep).
  • Veldi Hari Prasad from Telangana to exhibit Siricilla textiles at the event.

Government Policy & Schemes

• Pashu Aushadhi Scheme:
  • Pashu Aushadhi Kendras to be established to provide quality veterinary medicines at affordable prices.
  • Medicines will be sold at PM Kisan Samriddhi Kendras and cooperative societies.
  • Similar to Jan Aushadhi Kendras for humans, but focused on veterinary medicine.

Appointments

• Anju Rathi Rana:
  • Anju Rathi Rana becomes the first woman to be appointed as Law Secretary (Nyaya Vibhaga Karyadarshi).

Sports

• Sharath Kamal Retirement:
  • Sharath Kamal (Table Tennis player) retires from sports.
  • Won 7 Gold, 3 Silver, and 3 Bronze medals in Commonwealth Games.
  • India's flag bearer at the opening ceremony of the 2024 Paris Olympics.

Multiple Choice Question

What is the objective of Open Market Operations (OMO)?

1. To promote economic growth
2. To control prices
3. Both A and B
4. None of the above

Correct Answer: A Only

Explanation: Open Market Operations (OMO) are conducted by RBI primarily to manage liquidity in the market to support economic growth. While controlling inflation is also a monetary policy objective, OMO in this context (RBI buying G-Sec) is specifically aimed at increasing liquidity to stimulate growth. To control inflation, RBI would typically sell G-Sec in OMO to reduce liquidity.

Thank you.