Current Affairs 11 May 2025

DPIIT Expands Credit Guarantee Scheme to Boost Startup Funding.

• The CGSS guarantee cover per borrower has increased from ₹10 crore to ₹20 crore, with coverage up to 85% for smaller loans.
• The Annual Guarantee Fee (AGF) for startups in 27 Champion Sectors is reduced from 2% p.a. to 1% p.a., supporting innovation.
• The scheme aims to enhance funding for startups by encouraging financial institutions to provide credit support.

Bengaluru Launches Smart Water Supply & Connection Initiatives.

• Deputy CM DK Shivakumar introduced Sanchari Cauvery—a GPS-tracked water tanker delivery system with affordable pricing.
• Citizens can book government-supplied clean drinking water via an app, ensuring transparency and doorstep delivery within 24 hours.
• Sarala Cauvery simplifies new water connections with installment-based payments to support urban poor and middle-class families.

10th International Trade Fair begins in Nepal.

• Nepal’s Commerce Minister Damodar Bhandari inaugurated the five-day fair at Bhrikutimandap, featuring 120 pavilions.
• Exhibitors from Nepal, China, Ukraine, Bangladesh, and Turkey displayed EVs, electronics, handicrafts, and agricultural products.
• Nepal’s stalls highlighted local crafts, tea, coffee, spices, and Himalayan herbs, attracting business interests.

IIFCL Posts Record Financial Performance for FY 2024-25.

• IIFCL achieved all-time high annual sanctions of ₹51,124 crore and disbursements of ₹28,501 crore, reflecting a 21% and 28% YoY growth.
• Profit before tax surged 37% to ₹2,776 crore, while profit after tax rose 39% to ₹2,165 crore.
• Asset quality improved with gross NPA ratio declining to 1.11% and net NPA to 0.35%, reinforcing financial stability.

CCPA to take action against sales of Walkie-Talkies on e-platforms.

• The CCPA has taken action against e-commerce platforms selling walkie-talkies without proper disclosures.
• Violations include non-disclosure of operating frequencies, licensing details, and equipment type approval.
• The sale of non-compliant devices may pose national security risks and breach multiple laws.
• New guidelines will be issued to ensure legal compliance and protect consumer right.