Daily Current Affairs Quiz
17 October, 2025
National Affairs
1. Forest Declaration Assessment 2025
Source: IE
Context:
The Forest Declaration Assessment 2025 highlights that global deforestation reached 8.1 million hectares in 2024, leaving the world 63% off-track to achieve zero deforestation by 2030, despite international commitments under the Glasgow and Kunming-Montreal Declarations.
Key Findings:
- Forest Loss & Degradation:
- 8.1 M ha deforested and 8.8 M ha degraded, with tropical regions accounting for 94% of loss.
- Primary forests at risk: 6.7 M ha lost, mainly in Latin America and Africa.
- Carbon & Biodiversity Impact:
- Deforestation and degradation emitted 3.1 Gt CO₂e (150% of U.S. energy sector emissions).
- Forested Key Biodiversity Areas (fKBAs) lost 2.2 M ha, increasing extinction risks.
- Restoration Gap: Only 10.6 M ha under restoration globally (0.3% of potential), far below targets.
Causes:
- Agricultural expansion (86%) – pasture, soy, palm oil
- Mining and infrastructure projects
- Forest fires and climate stress (e.g., Amazon fires emitted 791 Mt CO₂e in 2024)
- Weak governance and corruption
- Unsustainable global consumption driving indirect deforestation
Restoration Efforts:
- Global targets: UN Decade on Ecosystem Restoration and Kunming-Montreal Framework aim for 30% degraded land restoration.
- Regional leadership: Latin America and Asia >70% of restoration projects.
- Innovative models: Agroforestry and community-based restoration link livelihoods with ecosystem recovery.
- India’s role: Green India Mission, CAMPA, National Afforestation Programme – targeting 26 M ha by 2030.
Challenges:
- Insufficient financing (<10% of climate finance benefits forests)
- Fragmented tracking and data gaps
- Policy incoherence between agriculture, trade, and climate policies
- Limited rights for Indigenous and forest-dependent communities
- Restoration quality often prioritises tree numbers over ecological integrity
Recommendations:
- Legally binding forest targets with audits and transparent reporting
- Redirect finance flows to deforestation-free supply chains and low-carbon commodities
- Empower local communities through legal recognition and participatory governance
- Strengthen monitoring by integrating databases like FAO-FERM and Forest Declaration Dashboard
- Promote nature-positive agriculture: agroforestry, regenerative farming, mixed cropping
2. 2030 Centenary Commonwealth Games
Source: News on Air
Context:
The Commonwealth Sport Executive Board (2025) has recommended Ahmedabad, Gujarat, as the proposed host city for the 2030 Centenary Commonwealth Games, bringing the prestigious multi-sport event back to India after 20 years.
Event Overview:
- The Commonwealth Games is a quadrennial multi-sport event involving athletes from 56 member nations.
- The 2030 edition will mark the 100th anniversary of the Games, first held in Hamilton, Canada (1930).
- It promotes peace, inclusivity, and friendship among former British Empire territories.
India’s Sporting Legacy:
- India last hosted the Games in 2010 (New Delhi).
- Ahmedabad’s proposal highlights modern sports infrastructure, including the Sardar Vallabhbhai Patel Sports Enclave, Narendra Modi Stadium, and new aquatics and football arenas.
- The bid aligns with India’s “Viksit Bharat 2047” vision and aims to position Gujarat as a global sports capital.
3. Su-57 Fighter Jets
Source: TH
Context:
Russia has proposed to jointly manufacture Su-57 fifth-generation fighter jets in India, marking a potential new phase in Indo-Russian defence collaboration. The offer reflects Moscow’s continued emphasis on deepening strategic cooperation with India, despite global geopolitical shifts and supply-chain challenges.
About the Su-57 Fighter Jet:
- Type: Fifth-generation stealth multirole fighter aircraft.
- Manufacturer: Sukhoi (Russia).
- Capabilities:
- Stealth technology for reduced radar detection.
- Supersonic speed and high maneuverability.
- Advanced avionics and sensor fusion for air superiority and strike missions.
- Multirole functions: Air-to-air, air-to-ground, and electronic warfare.
- Armament: Equipped with guided missiles, precision bombs, and a 30mm cannon.
- Significance for India:
- Enhances indigenous defence manufacturing under Make-in-India initiatives.
- Strengthens air combat capabilities against regional threats.
- Deepens strategic ties with Russia in defence technology.
4. IUCN Flags Western Ghats, Manas, and Sundarbans as ‘Significant Concern’ Sites
Source: TH
Context:
The International Union for Conservation of Nature (IUCN), in its World Heritage Outlook 4 (2025) report, has placed Western Ghats, Manas National Park, and Sundarbans National Park under the “Significant Concern” category due to rising ecological pressures.
About the IUCN World Heritage Outlook:
- Published every 3–4 years, it assesses the conservation status of natural World Heritage sites.
- Evaluates 63 Asian sites under four categories: Good, Good with Some Concerns, Significant Concern, and Critical.
- The share of sites under “Significant Concern” has increased from 26% (2020) to 30% (2025), reflecting rising threats from climate change, tourism, and invasive species.
Indian Sites under Significant Concern:
| Site | Location | Key Issues |
|---|---|---|
| Western Ghats | Maharashtra, Goa, Karnataka, Kerala, Tamil Nadu | Loss of evergreen forests (−5%), urbanisation, tourism, infrastructure projects |
| Manas National Park | Assam (India–Bhutan transboundary) | Habitat degradation, poaching, flood damage, invasive species |
| Sundarbans National Park | West Bengal (India–Bangladesh transboundary) | Climate change, sea-level rise, erosion, tourism pressure |
Other Observations:
- Out of 7 Indian natural World Heritage sites:
- 1 site (Khangchendzonga NP, Sikkim) – Good
- 4 sites (Kaziranga, Nanda Devi, Valley of Flowers, Keoladeo, Great Himalayan NP) – Good with Some Concerns
- 3 sites (Western Ghats, Manas, Sundarbans) – Significant Concern
- Top threats: Climate change has overtaken hunting, followed by tourism and invasive species.
- Infrastructure risks: Roads and railways have emerged as key threats, causing habitat fragmentation and wildlife mortality.
Banking/Finance
1. RBI Introduces Reforms to Boost Cross-Border Trade
Source: ET
Context:
The Reserve Bank of India (RBI) announced key amendments under the Foreign Exchange Management Act (FEMA) to facilitate smoother external trade and payment mechanisms.
Objective: Enhance regional financial integration, improve export efficiency, and promote the internationalisation of the Indian Rupee.
Rupee Lending to Neighbouring Economies
Regulation: Foreign Exchange Management (Borrowing and Lending) Regulations, 2018 – Amended in 2025
Key Highlights:
- Authorised Dealer (AD) banks in India and their overseas branches can now extend loans in Indian Rupees to persons or banks in Bhutan, Nepal, and Sri Lanka.
- Purpose:
- Reduce reliance on hard currencies like USD for regional trade
- Lower transaction costs and exchange rate risks
- Support easier trade finance, especially for Sri Lanka
- Strategic Significance:
- Supports India’s vision of Rupee internationalisation
- Promotes South Asia Regional Trade Integration
- Enhances cross-border payment systems (e.g., UPI expansion)
Extended Timeline for Repatriation of Export Proceeds
Regulation: Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) (Seventh Amendment) Regulations, 2025
Key Highlights:
- Exporters with foreign currency accounts (FCA) in IFSC banks in India can retain export proceeds for up to three months before repatriation (earlier: next month).
- Benefits:
- Provides flexibility in cash flow management and currency hedging
- Aligns with international trade finance practices
- Encourages use of IFSC-based banking units, boosting GIFT City’s role as a trade finance hub
- Improves operational efficiency while retaining regulatory oversight
Regulatory Alignment
- RBI amended the Master Directions on:
- Export of Goods and Services
- Deposits and Accounts
- Provides procedural clarity for AD banks, exporters, and financial institutions.
Significance of the Reforms
- Strengthens India’s position as a regional trade and financial anchor
- Deepens economic diplomacy with South Asian neighbours
- Facilitates operational efficiency for exporters amid volatile global trade
- Supports Rupee internationalisation and IFSC growth
2. Groww Launches Commodities Trading on Its Platform
Source: BL
Context:
Stock broker Groww has introduced commodities trading for its users, expanding beyond equities and mutual funds. The service is available for customers with active trading accounts.
Commodities Trading
Commodities trading involves buying and selling raw materials or primary agricultural products in standardized contracts through commodity exchanges. Unlike stocks or mutual funds, which represent ownership in companies or pooled assets, commodities are physical goods or their derivatives.
Types of Commodities:
- Metals: Gold, silver, copper, aluminium.
- Energy: Crude oil, natural gas, coal.
- Agricultural: Wheat, rice, sugar, coffee, cotton.
- Others: Rubber, spices, palm oil.
How It Works:
- Investors can trade spot (cash) contracts for immediate delivery or futures contracts for delivery at a later date.
- Commodity prices are influenced by global supply-demand dynamics, weather conditions, geopolitical events, and currency fluctuations.
- Exchanges like MCX (Multi Commodity Exchange of India) and NCDEX (National Commodity & Derivatives Exchange) provide a platform for such trading.
3. EPFO Reforms and RBI Recommendations – October 2025
Source: ET
Context:
The Employees’ Provident Fund Organisation (EPFO) has introduced reforms to allow greater access to retirement savings, alongside an RBI review highlighting the need for sustainable fund management.
Key Reforms:
- Premature Withdrawal: Members can withdraw up to 75% of PF for essential needs (illness, education, marriage), housing, and special circumstances; 25% retained for prudence.
- Frequency: Withdrawals for education – 10 times, marriage – 5 times. Minimum membership: 12 months.
- Unemployment Clause: Retained 25% can be accessed after 1 year of no pay.
Fund Management Concerns:
- Current PF payouts (>8%) exceed returns on 10-year government bonds (~7%).
- Shortfall partly covered by selling equities and other capital assets, raising sustainability concerns.
RBI Recommendations:
- Conduct actuarial assessment of liabilities vs. assets for each scheme.
- Employ professional and sophisticated asset management.
- Split regulatory and fund management roles to avoid conflicts.
- Consider raising equity allocation cap beyond 15% to sustain payouts.
- Maintain transparency and risk-reward alignment.
4. GIFT City Climbs to 43rd in Global Financial Centres Index 2025
Source: IE
Context:
The 38th edition of the Global Financial Centres Index (GFCI 38) was released in October 2025 by the China Development Institute (Shenzhen) and Z/Yen Partners (London). GFCI evaluates 135 financial centres worldwide using 140 instrumental factors from organizations like the World Bank, OECD, and UN, along with 28,549 survey assessments.
GIFT City Performance:
- Rank: Improved from 46th to 43rd globally.
- FinTech Ranking: Rose from 40th to 35th, reflecting growing investor confidence in India’s IFSC.
- Asia-Pacific Standing: Among the top 15 financial hubs in the region and the only Indian city featured.
Global Financial Centres Highlights:
- Top 5 Centres:
- New York, USA – 766 points
- London, UK – 765 points
- Hong Kong, China – 764 points
- Singapore – 763 points
- San Francisco, USA – 749 points
- Indian Financial Centres: Mumbai – 46th, New Delhi – 54th.
- Asia-Pacific Trends: Six centres in the top 15, average rating increased by 1.27%. Beijing was the only city to see a decline.
- New Entrant: Labuan, Malaysia – 60th position.
Significance:
- GIFT City’s rise demonstrates India’s strengthening global competitiveness in financial services and FinTech.
- Signals investor trust in the regulatory framework, infrastructure, and operational efficiency of India’s IFSC.
5. LIC Launches Two New Insurance Products – Jan Suraksha and Bima Lakshmi
Source: Mint
Context:
Life Insurance Corporation of India (LIC) introduced two new insurance plans on 15 October 2025: LIC Jan Suraksha and LIC Bima Lakshmi. These are the first products launched under the next-gen GST regime.
Objective: Provide financial protection and savings for different target groups.
LIC Jan Suraksha
- Target Group: Lower-income individuals and economically weaker sections.
- Type: Non-participating, non-linked insurance plan.
Eligibility:
- Age: 18–55 years
- Must be in good health
Sum Assured: ₹1,00,000 to ₹2,00,000 (multiples of ₹5,000)
Policy Term & Premium Paying Term:
- Term: 12–20 years
- Premium Paying Term = Policy Term − 5 years
Key Features:
- Life micro-insurance plan
- Limited premium payment
- Auto cover after three full years of premiums
- Policy loan available after one full year
- Guaranteed additions throughout policy term
LIC Bima Lakshmi
- Target Group: Females seeking life insurance with savings benefits
- Type: Non-participating, non-linked insurance plan
Eligibility:
- Female, age 18–50 years
- Sum Assured: Minimum ₹2,00,000; no maximum limit (multiples of ₹10,000)
Policy Term & Premium Paying Term:
- Term: 25 years
- Premium Paying Term: 7–15 years
Key Features:
- Guaranteed additions as a % of annual premiums
- Choice of survival benefits from three options
- Option to defer survival benefits
- Payment of maturity/death benefits in instalments
- Auto cover after three full years of premiums
- Incentives for higher sum assured
- Option to enhance coverage with rider benefits
Significance:
- Jan Suraksha promotes financial inclusion for low-income groups.
- Bima Lakshmi empowers women with life cover + periodic money-back options.
- Strengthens LIC’s portfolio under the new GST regime, offering both protection and flexible savings solutions.
Agriculture
1. Centre to Roll Out Tech-Enabled Monitoring for Farmer Schemes
Source: Mint
Context:
The Government of India plans to introduce a comprehensive, technology-driven monitoring and evaluation (M&E) mechanism to ensure that farmers receive the full benefits of central and state schemes efficiently and without leakages.
Key Features:
- Quarterly Stakeholder Meetings:
- States will conduct quarterly meetings at block, district, and state levels with farmers, panchayat representatives, and other stakeholders to assess implementation of government schemes.
- Objective:
- Bridge the gap between policy formulation and implementation.
- Ensure farmers are aware of, understand, and can access schemes.
- Promote adoption of sustainable and improved farming practices.
- Farmer-Centric Focus:
- Special attention will be on small and marginal farmers, who often face barriers such as low literacy, lack of access to information, and complicated application processes.
- Existing Schemes Covered:
More than 27 major farmer-centric schemes, including:- PM-KISAN (Pradhan Mantri Kisan Samman Nidhi)
- PMFBY (Pradhan Mantri Fasal Bima Yojana)
- Agriculture Infrastructure Fund (AIF)
- FPO Formation and Promotion
- Paramparagat Krishi Vikas Yojana (PKVY)
- Sub-Mission on Agricultural Mechanization (SMAM)
Significance
- Bridges the gap between policy formulation and execution.
- Strengthens transparency, accountability, and efficiency in scheme delivery.
- Provides a structured feedback loop to improve government outreach and farmer participation.
Facts To Remember
1. IUCN World Conservation Congress 2025
IUCN World Conservation Congress concludes in Abu Dhabi, United Arab Emirates with ambitious vision for nature conservation.
2. Tribal Affairs Minister Jual Oram Launches Adi Karmayogi Abhiyan to Train 20 Lakh Change-Leaders
Tribal Affairs Minister Jual Oram has said that the Adi Karmayogi Abhiyan aimed to build a cadre of 20 lakh trained change-leaders across one lakh tribal villages in the country.
3. Defence Minister Rajnath Singh Unveils First Tejas LCA Mk1A from HAL’s New Nashik Production Line
Defence minister Rajnath Singh today unveiled the first Tejas LCA MK1A fighter jet from Hindustan Aeronautics’ new Nashik production line.
4. Health Minister JP Nadda Reaffirms Commitment to Strengthening Trauma Care on World Trauma Day
Health and Family Welfare Minister JP Nadda has reaffirmed the government’s commitment to reducing the burden of injuries and accidents that claim countless lives every year.
5. 8th National Nutrition Mission Concludes Today with Grand Event in Dehradun
The 8th National Nutrition Mission will conclude today with a grand event in Dehradun, the capital of Uttarakhand.
6. President Droupadi Murmu to Attend National Conclave on Adi Karmayogi Abhiyan in New Delhi Today
President Droupadi Murmu will attend the National Conclave on the Adi Karmayogi Abhiyan in New Delhi
7. Union Agriculture Minister Reviews Strategy to Strengthen Krishi Vigyan Kendras
Union Minister for Agriculture and Farmers’ Welfare Shivraj Singh Chouhan held a high-level meeting to deliberate on strategies for making Krishi Vigyan Kendras (KVKs) across the country
