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Daily Current Affairs
4 October, 2025
1. Which of the following correctly describes Cyclone Shakthi that formed in October 2025?
A. It originated in the Bay of Bengal and moved toward Bangladesh
B. It was the first pre-monsoon cyclone of 2025
C. It formed over the northeast Arabian Sea and moved west-southwestwards
D. It was named by the Indian Meteorological Department
E. It caused heavy rainfall over Eastern India
Answer: C. It formed over the northeast Arabian Sea and moved west-southwestwards
Explanation: Cyclone Shakthi developed from a low-pressure area in the northeast Arabian Sea in early October 2025. It was named under the WMO’s naming system and forecasted to intensify into a Severe Cyclonic Storm moving west-southwestwards.
2. According to the 2025 Himachal Pradesh Forest Department report, how many snow leopards were recorded in the state under Project Snow Leopard?
A. 51
B. 67
C. 83
D. 92
E. 101
Answer: C. 83
Explanation: Himachal Pradesh recorded 83 snow leopards in 2025, up from 51 in 2021, under Project Snow Leopard. The species is listed as Vulnerable by IUCN and protected under Schedule I of the Wildlife Protection Act, 1972.
3. External Commercial Borrowings (ECBs) refer to loans raised by Indian entities from:
A. Domestic cooperative banks
B. Indian government departments
C. Recognized non-resident entities
D. Public Sector Undertakings (PSUs)
E. Regional Rural Banks (RRBs)
Answer: C. Recognized non-resident entities
Explanation: ECBs are commercial loans raised by Indian entities from recognized non-resident entities in foreign currency or INR. They are regulated by the RBI under FEMA, 1999, and can be raised through automatic or approval routes.
4. Which of the following statements about Basic Savings Bank Deposit (BSBD) accounts is incorrect?
A. They require a minimum balance of â‚ą500
B. They are also called no-frills accounts
C. They offer unlimited digital transactions
D. Only one BSBD account is allowed per customer
E. BSBD accounts include PMJDY accounts
Answer: A. They require a minimum balance of â‚ą500
Explanation: BSBD accounts require no minimum balance and are designed for financial inclusion. They allow unlimited deposits and digital transactions, and customers can hold only one BSBD account.
5. Under the Scale-Based Regulation (SBR) framework, how many years are Upper Layer NBFCs given to get listed after classification?
A. 1 year
B. 2 years
C. 3 years
D. 5 years
E. 10 years
Answer: C. 3 years
Explanation: RBI’s SBR framework mandates that NBFCs classified in the Upper Layer (NBFC-UL) must list within three years of identification. This strengthens governance and market discipline.
6. As per RBI’s draft framework on ECBs (2025), which of the following has been proposed?
A. Removal of borrower eligibility
B. Increase in maturity to 10 years minimum
C. Linking borrowing limits to company’s net worth
D. Restriction on infrastructure projects
E. Ban on foreign currency loans
Answer: C. Linking borrowing limits to company’s net worth
Explanation: The draft ECB overhaul proposes linking borrowing limits to net worth (up to $1 billion or 300% of net worth), removing cost caps, and expanding eligible borrowers/lenders to increase foreign capital access.
7. Multi-Asset Allocation Funds (MAAFs) must invest in at least how many different asset classes?
A. 2
B. 3
C. 4
D. 5
E. 6
Answer: B. 3
Explanation: As per SEBI guidelines, MAAFs must invest in a minimum of three asset classes (equity, debt, commodities such as gold/silver) with at least 10% exposure in each to ensure diversification.
8. Kiwi’s new EMI on UPI feature allows users to:
A. Get zero-interest EMIs on foreign purchases
B. Convert high-value UPI transactions into EMIs with cashback on interest
C. Make EMI payments only using credit cards
D. Get government subsidy on UPI payments
E. Transfer UPI credit to savings accounts
Answer: B. Convert high-value UPI transactions into EMIs with cashback on interest
Explanation: Kiwi launched India’s first EMI-on-UPI feature that lets users convert UPI transactions into EMIs and receive cashback equal to the interest paid — reducing the effective borrowing cost.
9. What is the effective date for RBI’s unified Related Party Lending Rules for banks?
A. April 1, 2025
B. April 1, 2026
C. January 1, 2026
D. December 31, 2025
E. March 31, 2026
Answer: B. April 1, 2026
Explanation: The RBI’s unified framework on Related Party Lending will be effective from April 1, 2026. It expands the definition of related parties and strengthens governance, board oversight, and transparency in lending.
10. The Finance Industry Development Council (FIDC) was recently recognized by RBI as the:
A. Credit Risk Rating Agency for NBFCs
B. Regulatory Authority for Deposits
C. Self-Regulatory Organisation (SRO) for NBFCs
D. Auditor of Small Finance Banks
E. Compliance Board for Digital Lenders
Answer: C. Self-Regulatory Organisation (SRO) for NBFCs
Explanation: RBI recognized FIDC, established in 2004, as the official Self-Regulatory Organisation for NBFCs to enhance compliance, ethical practices, and coordination between RBI and NBFCs.
