Daily Current Affairs Quiz
5 & 6 September, 2025
National Affairs
1. Cabinet Clears ₹1,500 Crore Incentive Scheme for E-Waste & Battery Waste Recycling
Source: ET
Context:
The Union Cabinet has approved a ₹1,500 crore incentive scheme (2025–26 to 2030–31) to promote recycling of e-waste and battery waste, aimed at strengthening India’s critical mineral supply chain under the National Critical Mineral Mission (NCMM). The initiative will serve as a bridge solution until domestic mining and exploration projects yield results, given the long gestation of mining operations.
Key Features of the Scheme
- Duration: 6 years (FY 2025-26 to 2030-31).
- Objective: Extract critical minerals from secondary sources like e-waste, lithium-ion battery scrap, catalytic converters from end-of-life vehicles.
- Target Beneficiaries: Both large recyclers and SMEs/startups. One-third of the outlay is earmarked for small/new players.
About National Critical Mineral Mission (NCMM)
Approved by the Union Cabinet in January 2025, the NCMM is a flagship initiative under Atmanirbhar Bharat aimed at making India self-reliant in critical minerals—vital for high-tech manufacturing, clean energy, and defense. Its roots trace back to the Union Budget of 2024–25, when the mission was first announced.
Scope & Value-Chain Coverage
NCMM covers all critical mineral lifecycle stages, including:
- Exploration (onshore and offshore)
- Mining and beneficiation
- Processing
- Recovery/ Recycling from end-of-life products
Objective:
- Set up a fast-track regulatory approval mechanism for critical mineral projects
- Offer financial incentives for exploration and recovery from overburden/tailings
- Encourage PSUs and private players to acquire critical mineral assets abroad
- Develop a metal stockpile for resource security
2. NITI Aayog Report on Path to Atmanirbharta in Millets
Source: PIB
Context:
NITI Aayog released its report “Strategies and Pathways for Accelerating Growth in Pulses towards the Goal of Atmanirbharta”. While focused on pulses, the report provides key insights applicable to millets, highlighting strategies for productivity, sustainability, and self-reliance.
Current Status & Trends of Millets in India
- Global Share: India produces ~41% of global millets (~16 MT annually), making it the world’s largest producer.
- Regional Spread: Rajasthan, Maharashtra, Karnataka, Uttar Pradesh, and Madhya Pradesh account for over 80% of production.
- Decline in Consumption: Per capita millet consumption has dropped from 32 kg/year (1960s) to ~4 kg/year today, replaced by rice and wheat in PDS and diets.
- Policy Recognition: Union Budget 2023–24 renamed millets as “Shree Anna”, with funds for research, processing, and market linkages.
Importance of Millets
- Nutritional Security: Rich in iron, calcium, fiber, and protein; helps combat malnutrition and anemia.
- Climate Resilience: Require 70% less water than rice; suitable for drought-prone and arid regions.
- Farmer Benefits: Low-input crop, reducing dependence on fertilizers and irrigation.
- Food Security: Integrated into Mid-Day Meal, ICDS, and PDS to benefit vulnerable groups.
- Global Positioning: Marketed as a superfood under India’s Shree Anna branding, boosting exports and agri-diplomacy.
3. India Rankings 2025 by NIRF
Source: TOI
Context:
The Ministry of Education announced the India Rankings 2025 based on the National Institutional Ranking Framework (NIRF). The annual exercise benchmarks higher education institutions across categories and disciplines.
About India Rankings (NIRF)
- Introduced: 2015
- Published by: Ministry of Education, Govt. of India
- Data Support from: Scopus, Web of Science, Derwent Innovation
- Aim:
- Promote accountability, transparency, and quality benchmarking among HEIs.
- Help students, parents, and policymakers with credible performance indicators.
- Align higher education with NEP 2020 and India’s vision of a knowledge superpower by 2047.
Criteria & Weightage (5 Parameters)
- Teaching, Learning & Resources (30%) – faculty quality, student strength, financial resources.
- Research & Professional Practice (30%) – publications, citations, patents.
- Graduation Outcomes (20%) – placements, higher studies, median salary.
- Outreach & Inclusivity (10%) – gender balance, regional diversity, inclusivity.
- Perception (10%) – academic & public reputation.
Key Highlights of India Rankings 2025
- IIT Madras – No. 1 in Overall category (7th year) & Engineering (10th year).
- IISc Bengaluru – No. 1 in Universities (10th year) & Research Institutions (5th year).
- Domain Leaders (unchanged):
- Management: IIM Ahmedabad
- Medical: AIIMS Delhi
- Architecture: IIT Roorkee
- Law: NLSIU Bengaluru
- Delhi Colleges’ dominance: Hindu College ranked 1st (2nd year); 6 of top 10 colleges from Delhi.
- Expansion of Categories: 9 categories & 8 subject domains; SDG-based rankings introduced, topped by IIT Madras.
- Participation Growth: 7,692 institutions applied; 14,163 submissions (297% rise since 2016).
- Emerging Diversity:
- Pharmacy: Jamia Hamdard
- Open Universities: IGNOU
- Skill Universities: Symbiosis
- Agriculture: IARI Delhi
4. India’s First Vulture Conservation Portal Launched in Assam
Source: TH
Context:
On September 2, 2025 (International Vulture Awareness Day), India’s first vulture conservation knowledge portal was launched in Assam to boost awareness, data-sharing, and stakeholder collaboration in saving endangered vulture species.
Key Highlights:
- Launched by: We Foundation India (Assam-based NGO) in collaboration with Gauhati University’s Department of Zoology, supported by Assam Bird Monitoring Network, LASA Foundation, Suraksha Samitee, and independent conservationists.
- Portal Name: The Vulture Network.
- Features:
- Cloud-based knowledge hub.
- Awareness materials in local languages (starting with Assamese).
- Information on vulture ecology, threats (carcass poisoning, diclofenac, electrocution, food scarcity).
- Scientific data + downloadable outreach content.
- Platform to connect researchers, NGOs, citizens, and policymakers.
- Focus species: Slender-billed Vulture (only ~800 mature individuals left in India).
- India’s vulture diversity: 9 species, of which White-rumped, Indian, and Slender-billed are Critically Endangered.
5. Angikaar 2025 Campaign
Source: News on Air
Context:
The Ministry of Housing and Urban Affairs (MoHUA) launched Angikaar 2025, a nationwide outreach campaign under PMAY–Urban 2.0 to accelerate housing delivery and strengthen beneficiary awareness.
About Angikaar 2025
- What it is?
- A last-mile outreach initiative under Pradhan Mantri Awas Yojana – Urban (PMAY-U 2.0) aimed at bridging implementation gaps and ensuring that housing benefits reach intended beneficiaries.
- Aim:
- To create mass awareness of PMAY-U 2.0.
- To facilitate verification of applications and expedite completion of sanctioned houses.
Features
- Duration: Two-month campaign across 5,000+ Urban Local Bodies (ULBs).
- Activities: Door-to-door campaigns, loan melas, cultural events, and PM Awas Mela – Shehri.
- Focus: Special outreach to vulnerable groups and convergence with other social welfare programmes (health, sanitation, finance, etc.).
- Target: Completion of pending houses and delivery of 1 crore additional houses sanctioned under PMAY-U 2.0.
About PMAY-U 2.0
- Launched to provide “Housing for All” in urban areas by 2025.
- Focus on affordable housing, beneficiary-led construction, and technology-driven solutions.
- Integrates housing with welfare initiatives like Jal Jeevan Mission, Ujjwala, Ayushman Bharat for holistic urban living.
5. India’s First Port-Based Green Hydrogen Pilot Project
Source: ET
Context:
The Union Minister inaugurated India’s first port-based Green Hydrogen Pilot Project at V.O. Chidambaranar (VOC) Port, Tamil Nadu, making it the first port in the country to produce green hydrogen.
About the Project
- What it is?
- A pilot facility to produce green hydrogen at VOC Port, Tuticorin.
- Capacity: 10 Nm³ per hour.
- Cost: ₹3.87 crore.
- Under: Coastal Green Shipping Corridor Project (Kandla–Tuticorin).
- Aligned with: Viksit Bharat 2047 and the Sagarmala Programme.
Aim
- Promote green shipping and clean energy transition.
- Reduce dependence on fossil fuels in port operations.
- Develop VOC Port as a green bunkering and refuelling hub for South India.
Key Features
- Green hydrogen to power streetlights and EV charging stations in the port colony.
- Linked with a proposed Green Methanol Bunkering & Refuelling Facility (₹35.34 crore, 750 m³ capacity).
About V.O. Chidambaranar (VOC) Port
- One of India’s 13 major ports, located in Tuticorin, Tamil Nadu on the Coromandel Coast.
- Formerly called Tuticorin Port, renamed in 2011 after freedom fighter V.O. Chidambaranar, known as Kappalottiya Tamizhan.
- Plays a big role in coal handling, container movement, and South India’s maritime trade.
- Has seen heavy investment (₹16,000+ crore) under the Sagarmala Programme for modernisation.
6. India Joins Health AI Global Regulatory Network (Health AI GRN)
Source: TH
Context:
On 4 September 2025, the Ministry of Electronics and Information Technology (MeitY) announced that India joined the Health AI Global Regulatory Network (Health AI GRN) to strengthen oversight of Artificial Intelligence (AI) in healthcare. The signing took place in New Delhi.
About Health AI GRN
- What it is?
- A global platform launched by HealthAI (Global Agency for Responsible AI in Health) to bring together regulators, policymakers, and experts to ensure safe, ethical, and effective use of AI in healthcare.
- Mission:
- Strengthen global collaboration in AI governance.
- Promote safety, equity, and trust in medical AI.
- Develop early warning systems and safety protocols.
- Objectives:
- Share best practices & regulatory experiences.
- Ensure ethical deployment of AI tools.
- Support innovation while protecting data privacy & patient safety.
- Headquarters: Geneva, Switzerland.
- Established: 2023.
- CEO: Dr. Ricardo Baptista Leite.
- Existing Members: United Kingdom (UK) and Singapore.
Banking/Finance
1. Axis Bank Launches ‘Sparsh Week 2025’
Context:
On September 1, 2025, Axis Bank Limited launched the 3rd edition of Sparsh Week (September 1–5, 2025) under the theme “Raise the Bar”. The initiative brought together over 1 lakh employees across 5,868 branches in 40 cities to strengthen customer experience, employee engagement, and leadership visibility.
Sparsh Week 2025
- Theme: Raise the Bar.
- Core Principles:
- Own the Brand
- Own the Customer
- Act with Speed
- Zero Pendency
Segment-Specific Initiatives
- Students: “Piggy to Prodigy Day” – Bank tours, fun learning sessions, and engagement with Axis Bank Young Bankers (ABYB).
- Women: Financial awareness sessions via ARISE; Nari Shakti Diwas with panel discussions and discounts.
- Senior Citizens: Awareness drives on digital banking, fraud prevention, and will creation.
- Startups: Startup Sangam – showcasing ventures, CX roundtables, and networking.
- MSMEs: Expert sessions and loan facilitation.
- Farmers & Agri-entrepreneurs: Krishi Diwas advisory sessions, soil-testing kits, and rural outreach programs.
- NRIs: Client engagement across UAE, Singapore, and U.S. with homecoming meets.
- LGBTQ+ Community: Pink Economy event and inclusion-focused interactions.
About Axis Bank
- MD & CEO: Amitabh Chaudhry
- HQ: Mumbai, Maharashtra
- Established: 1993
- Tagline: Badhti Ka Naam Zindagi
2. PhonePe Introduces Loans Against Mutual Funds (LAMF) with DSP Finance
Source: BS
Context:
PhonePe, a leading Indian fintech platform, has partnered with DSP Finance, an NBFC backed by DSP Group, to launch Loans Against Mutual Funds (LAMF). The product allows individuals to unlock liquidity from their mutual fund investments without redeeming them.
Key Highlights:
- Loan Amount: Up to ₹2 crore, secured against pledged mutual fund units.
- Repayment Structure:
- No EMIs or mandatory monthly principal repayment.
- Borrowers only pay interest on the amount withdrawn.
- Target Audience: Retail investors and HNIs seeking flexible liquidity solutions.
About PhonePe
- Headquarters: Bengaluru, Karnataka
- Founded: 2015
- CEO: Sameer Nigam
3. Bandhan AMC Gets SEBI Nod to Launch ‘Arudha SIF’ Platform
Source: ET
Context:
In September 2025, Bandhan Asset Management Company (Bandhan AMC) received approval from the Securities and Exchange Board of India (SEBI) to launch Specialised Investment Funds (SIFs) under a new platform named ‘Arudha SIF’. This marks Bandhan AMC’s expansion beyond traditional Mutual Funds (MFs) into more flexible and regulated investment products.
Key Highlights:
- Platform Name: Arudha SIF
- Target Group: Sophisticated investors seeking differentiated risk-return profiles
- Strategies Offered:
- Equity
- Debt
- Hybrid
- Unhedged Short Derivatives
About Specialised Investment Funds (SIFs)
- Introduced by: SEBI to bridge the gap between Mutual Funds (MFs) and Portfolio Management Services (PMS).
- Key Features:
- Flexibility in portfolio construction.
- Enable non-traditional investment strategies.
- Offer sophisticated yet accessible solutions for both retail investors and High-Net-worth Individuals (HNIs).
About Arudha SIF
- Meaning of ‘Arudha’: Symbolises “ascent” and “progress.”
- Objective: To provide investors with advanced investment options beyond conventional MFs.
- Offerings: Equity, Debt, Hybrid, and Unhedged Short Derivatives positions.
4. REITs and InvITs Cross ₹9 Lakh Crore AUM in India
Context:
Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) have gained traction in India. According to industry bodies Indian REITs Association (IRA) and Bharat InvITs Association (BIA), their combined Assets Under Management (AUM) have crossed ₹9 lakh crore in just nine years.
Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) in India
To provide alternative investment avenues and deepen capital markets, SEBI introduced Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) in India in 2014. These are collective investment vehicles that pool investor money to invest in income-generating real estate or infrastructure assets.
Real Estate Investment Trusts (REITs)
- An investment vehicle that owns and operates income-generating commercial real estate assets (like office buildings, malls, hotels).
- Structure:
- Sponsor: Promoter who sets up the REIT.
- Trustee: Ensures compliance and safeguards investor interests.
- Manager: Manages the assets and operations.
- Regulatory Body: SEBI (REIT Regulations, 2014).
- Minimum Public Offer: At least ₹250 crore issue size, with minimum public float of 25%.
- Unit Listing: Units are listed and traded on stock exchanges, like shares.
Examples in India
- Embassy Office Parks REIT (launched 2019, India’s first REIT)
- Mindspace Business Parks REIT
- Brookfield India Real Estate Trust REIT
What Are SM REITs?
Introduced by the Securities and Exchange Board of India (SEBI) in March 2024 as a sub-category under the broader REIT framework, SM REITs enable investors to pool funds to co-own real estate assets valued between ₹50 crore and ₹500 crore much smaller than traditional REIT thresholds.
Asset Size –> Minimum asset value of ₹500 crore (Regular REITs) || Asset value between ₹50 crore and ₹500 crore (SM REITs (Small & Medium REITs)).
Infrastructure Investment Trusts (InvITs)
- Investment vehicle that owns and operates infrastructure assets like roads, power transmission lines, telecom towers, gas pipelines.
- Structure: Similar to REITs – Sponsor, Trustee, and Investment Manager.
- Regulatory Body: SEBI (InvIT Regulations, 2014).
- Minimum Public Offer: At least ₹250 crore issue size, with minimum public float of 25%.
- Unit Listing: Listed on stock exchanges, providing liquidity.
Examples in India
- IRB InvIT Fund (first InvIT in India, 2017)
- PowerGrid InvIT (launched 2021)
- IndiGrid InvIT (focused on power transmission assets)
5. Bank of Baroda Launches ‘bob Digi Udyam’
Source: BL
Context:
Bank of Baroda (BoB) has launched bob Digi Udyam, a fully digital collateral-free lending platform designed exclusively for Micro and Small Enterprises (MSEs). The platform aims to provide faster, seamless, and paperless loans to support MSME growth.
Key Highlights:
- Loan Range: Working capital loans from ₹10 lakh to ₹50 lakh.
- Facilities Offered: Cash Credit and Overdraft (OD) with a 12-month tenure.
- Collateral-Free: Loans are covered under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
- Technology Backbone: Uses digital footprints of MSEs for faster credit assessment.
- Alignment with Policy: Initiative is aligned with the Union Budget 2024–25 announcement for in-house MSME credit assessment by public sector banks.
About Bank of Baroda (BoB)
- Founded: 1908
- Headquarters: Vadodara, Gujarat
- MD & CEO: Debadatta Chand
- Tagline: India’s International Bank
6. NSE and BSE Penalise MTNL for Non-Compliance with SEBI Board Norms
Source: BS
Context:
The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have imposed penalties on Mahanagar Telephone Nigam Limited (MTNL) for violating SEBI’s board composition norms.
Reason for Non-Compliance: Improper constitution of the following committees:
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR Regulations, 2015).
Nomination & Remuneration Committee (NRC)
- Relevant Regulation: Regulation 19 of SEBI LODR, 2015
- Requirement:
- NRC must have at least 3 directors, all non-executive.
- At least 50% must be independent directors.
- The Chairperson of NRC must be an independent director.
Stakeholders’ Relationship Committee (SRC)
- Relevant Regulation: Regulation 20 of SEBI LODR, 2015
- Requirement:
- Committee must consist of a chairperson (non-executive) and such other members as decided by the board.
- Looks after redressal of grievances of security holders (shareholders, debenture holders, etc.).
Risk Management Committee (RMC)
- Relevant Regulation: Regulation 21 of SEBI LODR, 2015
- Requirement:
- Mandatory for top 1,000 listed entities by market cap.
- Committee must have a majority of board members.
- Chairperson must be a board member.
- At least one independent director must be a member.
Nature of Violation
- Failure to properly constitute NRC, SRC, and RMC = Violation of SEBI LODR, 2015 (Regulations 19, 20, 21).
- It is treated as non-compliance with corporate governance norms.
- SEBI may levy fines under SEBI Circular SEBI/HO/CFD/CMD/CIR/P/2018/77 (May 2018) prescribing standardized penalties for LODR violations.
About MTNL
- Full Form: Mahanagar Telephone Nigam Limited
- Status: Wholly owned subsidiary of Bharat Sanchar Nigam Limited (BSNL)
- Headquarters: New Delhi
- Sector: State-run telecom service provider
Agriculture
1. SLCM Partners with IDBI Bank and Punjab & Sind Bank
Source: BL
Context:
In September 2025, Sohan Lal Commodity Management Limited (SLCM), India’s largest post-harvest logistics and agri-solutions company, entered into a partnership with IDBI Bank Limited and Punjab & Sind Bank to provide unified collateral management services across India.
This marks Punjab & Sind Bank’s first venture into collateral management services.
About the Partnership
- Objective: To enable farmers, traders, and SMEs to use their stored agri-produce as collateral for loans.
- Supported Commodities: Cotton, pulses, maize, spices, and other staples.
- Technology Backbone: SLCM’s patented Agri Reach platform, offering real-time monitoring of agri-commodities.
- Farmer & Trader Benefits: Access to credit, efficient storage, better price realization, and enhanced trust due to SLCM’s strong warehousing and audit framework.
Expansion of SLCM’s Network
- With this collaboration, SLCM now has 27 banking partners across India and Myanmar.
- Strengthens SLCM’s role in bridging the gap between agri-finance and post-harvest solutions.
About SLCM
- Full Form: Sohan Lal Commodity Management Limited
- Core Business: Post-harvest logistics, warehousing, and agri-solutions.
- Flagship Technology: Agri Reach (real-time monitoring & scientific storage of agri-produce).
Facts To Remember
1. Nepal bans Facebook, X, YouTube, and 23 other social media platforms
The K.P. Sharma Oli government decided to ban as many as 26 social media platforms, including Facebook, X (formerly Twitter), Instagram, and YouTube, citing their failure to meet the deadline to comply with registration requirements in Nepal.
2. Amit Mishra retires from all formats
Veteran India leg-spinner Amit Mishra announced his retirement from all forms of cricket, ending a career spanning more than two decades.
3. Tata Capital’s $2 Billion IPO to Meet RBI Listing Mandate
Tata Capital, the NBFC arm of Tata Group, is set to launch its ₹17,500 crore ($2+ billion) IPO in the third week of September 2025.
4. SEBI Launches Formal Investigation into Jane Street
The Securities and Exchange Board of India (SEBI) launched a formal investigation into U.S.-based high-frequency trading firm Jane Street, despite its own surveillance department earlier recommending closure of the probe.
5. Karnataka Grameena Bank Adopts Common Logo for Amalgamated RRBs
On 5th September 2025, Karnataka Grameena Bank (KGB), headquartered in Ballari, Karnataka, adopted the common logo designed for all 11 amalgamated Regional Rural Banks (RRBs) in India.
