Daily Current Affairs (DCA) 11 December, 2025

Daily Current Affairs Quiz
11 December, 2025

International Affairs

1. UNESCO Safeguards Pakistan’s Boreendo

Source: HT

Context:

A clay flute tradition from Pakistan’s Sindh region – with echoes stretching back to the Indus Valley and faint parallels in Gujarat – became the early focal point of the 20th session of UNESCO’s Intergovernmental Committee for Safeguarding Intangible Cultural Heritage.

Boreendo at a Glance

• What it is: A spherical clay vessel-flute producing soft, breathy tones, used in folk music, pastoral songs, and winter gatherings in Sindh.
• Origin: Keti Mir Muhammad Lund, Sindh; roots trace back to Mohenjo-daro, linking it to the Indus Valley Civilization (3300–1300 BCE).
• Design & Craftsmanship:
  • Handmade from sun-dried, kiln-fired clay.
  • Egg-shaped body with 1 inlet and 3–5 holes; pitch changes by tilting the mouthpiece.
  • Decorated by women with natural motifs, reflecting local aesthetics.
• Acoustic Features:
  • Produces haunting, mellow notes.
  • Size-dependent tones: Large = deep resonance; small = sharper tones.
• Transmission: Skills passed orally in artisan families; only one maestro and one potter survive, making preservation urgent.
• Cultural Significance: Symbolizes Thari pastoral identity, community cohesion, and nature connection.

National Affairs

1. India and Brunei Launch First Defence Joint Working Group

Source: TH

Context:

India and Brunei Darussalam held the inaugural meeting of the Joint Working Group (JWG) on Defence Cooperation in New Delhi on 9 December 2025. This marks a milestone in bilateral defence relations, providing a structured platform to coordinate and deepen security and defence ties.

Areas of Cooperation

• Military Exchanges & Training: Officer exchanges, joint exercises, and professional military education to enhance interoperability.
• Maritime Security: Collaboration for safeguarding sea lanes and ensuring stability in the Indo-Pacific.
• Humanitarian Assistance & Disaster Relief (HADR): Coordinated response to natural and man-made disasters.
• Capacity Building & Technology: Defence industry partnerships, technology sharing, and training initiatives.

Strategic Importance

• Institutionalised Defence Ties: Moves India–Brunei engagement from occasional interactions to a formal, sustained mechanism.
• Regional Stability: Reinforces a rules-based order in the Indo-Pacific.
• Industry & Technology: Opens avenues for collaboration between Indian Defence Public Sector Units (DPSUs) and Brunei’s defence sector.
• Diplomatic Engagement: Highlights India’s commitment to strengthening ties with Southeast Asian nations.

2. Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2026

Source: PIB

Context:

The Ministry of Statistics and Programme Implementation (MoSPI) has released the draft questionnaire for the Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2026. The survey aims to capture critical data on the health and dynamics of unincorporated, non-agricultural enterprises across India.

Key Features of ASUSE

• Coverage: Unincorporated non-agricultural establishments in manufacturing, trade, and services.
• Data Collected:
  • Economic: Number of workers, gross value added, wages, fixed assets, outstanding loans.
  • Operational: Ownership type, nature of operation, registration status, use of ICT.
• Frequency: Conducted annually since 2021-22.
• Quarterly Bulletin: MoSPI has also launched QBUSE (Quarterly Bulletin of Unincorporated Sector) from Jan–Mar 2025, with Q2 (July–Sep 2025) available online.

Objectives of ASUSE 2026

• Improve Policy Relevance: Align survey design with stakeholder requirements for informed, data-driven decisions.
• Enhance Data Quality: Incorporate feedback from Data User Conferences, expert groups, and ministries.
• Generate Insights: Support national accounts statistics and policymaking in sectors like MSME, trade, and services.

3. India Launches First Indigenous Hydrogen Fuel Cell Vessel in Varanasi

Source: TH

Context:

On 11 December 2025, Union Minister Sarbananda Sonowal inaugurated India’s first fully indigenous hydrogen fuel-cell vessel at Namo Ghat, Varanasi. The vessel is a pilot project by Cochin Shipyard Limited (CSL) aimed at promoting clean energy in inland water transport and advancing India’s net-zero emission goals.

Key Features:

• Type & Size: Hydrogen fuel-cell powered passenger vessel, ~24 metres long
• Capacity: 50 passengers, air-conditioned
• Propulsion: Low-Temperature Proton Exchange Membrane (LT-PEM) hydrogen fuel cells combined with lithium-ion phosphate batteries
• Emissions: Zero-emission; water and heat are the only byproducts
• Performance: Silent operation, energy-efficient compared to conventional diesel vessels
• Builder: Cochin Shipyard Limited – fully designed and constructed in India

4. CITES Marks 50 Years at CoP20 in Samarkand

About CITES

• Full Form: Convention on International Trade in Endangered Species of Wild Fauna and Flora.
• Purpose: Legally binding treaty regulating international trade in wild animals and plants to prevent threats to species survival.
• History:
  • Proposed by IUCN in 1963; text finalized in 1973, Washington D.C.
  • Entered into force on 1 July 1975.
• Membership: 185 Parties (2025), one of the largest global conservation agreements.
• Mechanism: Three Appendices provide graded protection and trade restrictions.
• Key Functions:
  • Permits and certificates for regulated wildlife trade.
  • Enforcement against illegal trade.
  • Promotion of sustainable use, scientific assessments, and global cooperation.

CoP20(Samarkand, Uzbekistan, 2025)

• Significance: 20th Conference of the Parties; marks CITES’ 50th anniversary.
• First CoP in Central Asia, fostering regional conservation dialogue.

Major Outcomes

• Species Additions & Uplistings:
  • 77 species added to Appendices.
  • Appendix I (strictest protection):
    • Sharks & rays: oceanic whitetip, whale shark, all manta & devil rays.
    • Iguanas: Galápagos land iguanas (3 species), marine iguana.
    • African reptiles: Home’s hinge-back tortoise.
• Downlistings due to Conservation Success:
  • Saiga antelope (Kazakhstan): moved from Appendix II with export flexibility.
  • Guadalupe fur seal (Mexico): downlisted from Appendix I to II.
• India’s Role:
  • Successfully opposed EU proposal to list guggul (Commiphora wightii) in Appendix II, citing lack of scientific assessment.

5. ISRO to Launch US Commercial Satellite BlueBird-6

Source: TOI

Context:

In a major boost to Indo-US space collaboration, the Indian Space Research Organisation (ISRO) is set to launch its heaviest American commercial satellite, BlueBird-6, on December 15, 2025, from the Sriharikota spaceport. The launch vehicle LVM3 (Bahubali) will place the 6.5-tonne satellite into low-Earth orbit (LEO).

Key Highlights

• Satellite Name: BlueBird-6
• Country of Origin: United States
• Operator: AST SpaceMobile (Texas-based)
• Launch Vehicle: LVM3 (Bahubali)
• Orbit: Low-Earth Orbit (LEO)
• Purpose: Commercial communication, direct-to-device mobile broadband

About BlueBird-6

• Block-2 Satellite: Part of AST SpaceMobile’s next-generation series
• Phased Array Antenna: Nearly 2,400 sq ft — 3.5× larger than BlueBird 1-5
• Service Objective: Bridge the digital divide by offering fast mobile broadband in areas lacking terrestrial network coverage
• Launch Vehicle – LVM3 (Bahubali):
  • Configuration: Three-stage launch vehicle
  • Recent Launches: Carried India’s heaviest CMS-3 satellite (4.4 tonnes) on November 2, 2025

Banking/Finance

1. ADB Raises India’s FY26 Growth Forecast to 7.2%

Source: TOI

Context:

The Asian Development Bank (ADB) raised India’s GDP growth forecast for FY26 to 7.2%, up 70 basis points from its earlier estimate of 6.5%, citing strong domestic consumption supported by recent tax cuts. The growth projection for FY27 remains unchanged at 6.5%.

Key Highlights:

• Q2FY26 GDP Growth: 8.2% (July–September 2025), fastest in six quarters.
• Drivers: Robust private consumption; moderate government spending.
• FY26 Upgrade: 0.7 percentage points to 7.2% due to strong domestic demand and tax reductions.
• Global Sentiment: Aligns with other agencies:
  • IMF: Praised India’s growth momentum and fiscal discipline.
  • Fitch Ratings: Upgraded FY26 growth forecast to 7.4% from 6.9%, citing stronger consumer spending and GST reforms.
• Inflation Outlook:
  • FY26: 2.6% (down from 3.1%)
  • FY27: Expected to rise near RBI target of 4.2%
  • Retail inflation in October fell to 0.3%, lowest since 2012
• Factors Behind Low Inflation: GST cuts, food price deflation, strong agricultural output, favourable weather.

FY26 Growth Forecast Comparisons

Institution	Earlier Forecast (%)	Revised Forecast (%)
ADB	6.5	7.2
Fitch	6.9	7.4
Crisil	6.5	7.0
SBI Research	6.3	7.6
CareEdge	6.9	7.5
IDFC Bank	6.8	7.6
Kotak Mahindra	6.5	7.8

2. RBI Talks to Banks on Uniform Fee Disclosure and Removal of Overlaps

Source: ET

Context:

The Reserve Bank of India (RBI) has initiated discussions with authorised banks to ensure uniform disclosure of fees and to address overlaps in retail foreign exchange (forex) services. This move aims to enhance transparency for retail users in transactions involving forex cash, tom (next-day settlement) and spot contracts.

Key Highlights:

• Objective:
  • Full disclosure of transaction costs, including:
    • Remittance fees
    • Foreign exchange rates
    • Currency conversion charges
  • Removal of overlaps and inconsistencies across banking services
• Scope: Retail customers using foreign exchange cash, tom, and spot contracts

Previous Norms

• Banks were free to charge and disclose fees differently for forex services.
• Fee structures varied across banks and products, including cash, TOM, and spot contracts.
• No standardised format or mandatory transparency requirement, leading to:
  • Hidden or overlapping charges.
  • Difficulty for customers to compare costs across banks.

Proposed Measures

• Banks must provide a breakdown of total transaction costs before executing forex contracts with retail users.
• Details must be included in deal confirmations or term sheets.
• Prior RBI guidance (January 2024) already mandated disclosure of:
  • Mid-market rates
  • Bid-ask quotes for forex or foreign currency derivative contracts

3. PFRDA Expands Investment Universe for Pension Funds

Source: BS

Context:

The Pension Fund Regulatory and Development Authority (PFRDA) has revised investment norms for private pension funds, allowing broader diversification to optimize returns. The changes came into effect immediately with the circular issued on December 10, 2025.

Previous Norms

• Private pension funds were allowed to invest in only 200 approved stocks under the National Pension System (NPS).
• Investments in commodities or ETFs were restricted.
• Limited flexibility in portfolio diversification, which could constrain returns.

Key Changes

• Equity Investments:
  • Private pension funds can now invest in the top 250 stocks by market capitalization listed on Indian exchanges, up from the previous 200-stock limit.
• Commodity Exposure:
  • Investments in gold and silver ETFs are now permitted, enabling funds to diversify beyond equities.
• Objective:
  • Enhance portfolio diversification, manage risk, and improve long-term returns for subscribers.

Implications

• For Pension Funds:
  • Broader equity universe and commodity exposure reduce concentration risk and improve portfolio flexibility.
• For Subscribers:
  • Access to diversified investment options, including top-performing equities and commodity ETFs.
• For Markets:
  • Likely increased demand for top 250 stocks and gold/silver ETFs, supporting market depth.

4. RBI Likely to Maintain Repo Rate at 5.25% Through FY27: Fitch

Source: ET

Context:

The Reserve Bank of India is expected to keep its policy repo rate unchanged at 5.25% through the next fiscal year after a 25-basis-point cut earlier this month, according to BMI, part of Fitch Solutions.

Key Highlights:

• Rate Outlook: Fitch Solutions’ BMI expects the RBI policy repo rate to remain at 5.25% through FY2026‑27, following the recent 25 bps cut. The current rate is considered near its terminal level.
• Currency Forecast: The rupee is projected to trade around ₹90/USD by end‑2025 and ₹90.5/USD in 2026, reflecting a modest depreciation amid stable monetary policy.
• Policy Context: The RBI cut rates cumulatively by 125 bps in 2025 after aggressive hikes in 2022‑23, aiming to support growth while inflation remains subdued.

Economic Rationale

• Inflation: CPI inflation has fallen significantly, giving the RBI scope for continued accommodative policy.
• Growth: India’s GDP is forecast to remain robust, with strong domestic consumption and investment trends.
• Fitch notes that the current environment reflects a “Goldilocks” phase: low inflation and resilient growth, reducing the need for further rate adjustments.

Risks and Considerations

• External Risks: Prolonged trade disputes with the US may:
  • Hurt exports due to tariffs
  • Pressure GDP growth and currency value
• Domestic Risks: Inflation rebound and currency depreciation may influence future rate decisions.
• Growth vs Inflation: RBI balances resilient economic growth with expectations of softening momentum.

5. SEBI Plans Consolidated Financial Asset Statement

Source: Mint

Context:

The Securities and Exchange Board of India (SEBI) is exploring the creation of a consolidated statement of all financial assets of an individual, in collaboration with other financial sector regulators. The move is aimed at simplifying access to investment information and empowering households with a holistic view of their financial holdings.

Key Highlights:

• Consolidated Statement:
  • SEBI chairman Tuhin Kanta Pandey proposed a single statement reflecting all financial assets across markets.
  • The initiative will be taken forward through the inter-regulatory forum, involving other financial regulators.
• Current Scenario:
  • Investors can currently access consolidated holdings within securities markets (equities, debt, mutual funds) through depositories.
• Simplifying Investor Onboarding:
  • SEBI is considering allowing intermediaries access to supplementary account opening form (AOF) data via KYC registration agencies (KRAs).
  • Objective: Reduce repetitive document submission and ensure clean, verified, and consistent data across intermediaries.
• Regulatory Strengthening:
  • SEBI has enhanced governance and risk-management oversight for top 2,000 listed firms.
  • A review of regulations for mutual funds, stockbrokers, and listing obligations is underway.

6. SEBI Eases Re-KYC Process for NRIs

Source: Mint

Context:

The Securities and Exchange Board of India (SEBI) has relaxed the re-KYC process for Non-Resident Indians (NRIs), making it easier for them to update their KYC details without being physically present in India.

Key Highlights:

• Modification:
  • Physical presence in India is no longer required for digital re-KYC of existing NRI clients.
  • The move follows references and requests from multiple stakeholders.
• Digital Verification Requirements:
  • Tools such as random prompts, time-stamping, and geo-tagging will continue to ensure authenticity of the interaction.
  • Note: New onboarding still requires the client to be physically located in India.
• Definition:
  • Re-KYC (Re-Know Your Customer): Process of updating or revalidating customer KYC details with financial institutions or intermediaries.

7. RBI Urges MFIs to Diversify Asset Classes for Stability

Source: ET

Context:

The Reserve Bank of India (RBI) has called on microfinance institutions (MFIs) to expand their lending beyond the traditional joint liability group (JLG) model, in order to strengthen financial stability and enhance contribution to the economy.

This was highlighted at a seminar in Kolkata organized by the Association of Microfinance Institutions (AMFI)-West Bengal, where senior RBI officials and industry experts discussed the future of MFI lending.

Key Recommendations

• Diversify Lending Products:
  • Move from mono-product lending (entrepreneurial loans) to micro-enterprise finance.
  • Explore new asset classes such as:
    • Inventory financing – short-term loans to manage cash flows between purchase and sale of goods.
    • Capital asset financing – long-term loans for acquiring machinery and productive assets.
    • Basic payments support – financial products that support operational liquidity.
• Progressive Lending Approach:
  • Design products to match small business growth, starting with working-capital loans and gradually moving to larger financing solutions.
• Leverage Regulatory Relaxation:
  • RBI reduced the qualifying microfinance asset ratio from 75% to 60%, allowing NBFC-MFIs to diversify into MSME loans, gold loans, and loans against property.

8. RBI Proposes Full Disclosure of Forex Transaction Costs for Retail Users

Context:

The Reserve Bank of India (RBI) has issued a draft circular requiring banks and authorised dealers to provide complete disclosure of all fees and charges for retail foreign exchange (forex) transactions. The objective is to improve transparency and enable informed decision-making by individual customers.

Scope

• Applicable Transactions:
  • Forex cash
  • TOM (next-day settlement) contracts
  • Spot contracts

Current Scenario

• Retail forex users often face hidden or unclear charges while transacting in cash, TOM, or spot markets.
• Overlaps and inconsistent disclosure across banks create confusion and limit price comparability.

Proposed Change

• Banks must clearly disclose all transaction costs, including service charges, margins, and conversion fees.
• Standardised reporting will allow retail users to make better-informed choices when engaging in forex transactions.

9. Banks Increase Borrowing via Certificates of Deposit

Source: BS

Context:

Indian banks have stepped up borrowing through certificates of deposit (CDs) as deposit growth lags behind rising credit demand. In the fortnight ended November 28, 2025, banks raised nearly ₹ 78,000 crore via CDs, reflecting tight liquidity conditions in the banking system. This trend is expected to continue as credit growth accelerates while deposit accretion remains slow.

Certificates of Deposit (CDs)

• A Certificate of Deposit (CD) is a short- to medium-term financial instrument issued by banks or financial institutions to raise funds. It is a negotiable, fixed-income security that promises to pay the holder a specified interest rate for a predetermined period.
• Purpose:
  • Alternative to bulk term deposits
  • Replenish maturing deposits
  • Ensure smooth liquidity management
• Impact: Provides banks with short-term funding to meet credit demand and regulatory requirements

Drivers of CD Borrowing

• Credit-Deposit Mismatch
  • Credit growth: 11.4% (fortnight ended Nov 14, 2025)
  • Deposit growth: 10.2%
  • Gap: 120 basis points
• Tight Liquidity
  • Sluggish retail deposit inflows post-RBI rate cuts
  • Need for short-term borrowing to maintain Liquidity Coverage Ratio (LCR)
• Policy Rate Cuts & Margin Pressure
  • Cumulative 125 bps RBI rate cuts
  • Banks cautious about lowering deposit rates too sharply
  • Need to safeguard margins while meeting credit demand
• Economic Recovery Signals
  • GST rationalisation and income tax relief supporting credit demand
  • Pickup in credit expected in H2 FY26

Agriculture

1. Green Revolution 2.0: Climate Action in India’s Food Sector

Source: Mint

Context:

India’s food sector is a major economic contributor, employing millions and encompassing food processing, agriculture, cold chains, and retail. Globally, food systems contribute about one-third of greenhouse gas (GHG) emissions, driven by land use, fertilizers, livestock, and transport. As India scales its food sector, integrating climate action into supply chains is increasingly critical for both economic resilience and environmental sustainability.

Key Challenges

• Complexity of Emissions Measurement:
  • Farm emissions are hard to measure due to variations in soil type, weather, farming practices, fodder quality, and livestock breed.
  • Current tools rely on estimates, producing high error margins, making companies hesitant to set strict targets.
• Weak Consumer Incentives:
  • While Indian consumers express interest in sustainability, price and taste often drive decisions.
  • Uncertainty around willingness to pay green premiums discourages investment in cleaner supply chains.
• Supplier Constraints:
  • Majority of Indian farms are small-scale, with limited credit, irrigation, or advisory support.
  • Adoption of climate-friendly practices is slow unless costs are shared or incentives are provided.
• Supply Chain Complexity:
  • Ensuring resilience requires influencing millions of producers, each facing urgent daily risks beyond climate concerns.

Drivers for Action

• Climate Risks: Volatile weather affects procurement, input costs, and product quality across dairy, cereals, and spices.
• Market Expectations: Large buyers, commodity traders, and financial institutions increasingly demand evidence of emissions management.
• Science-Based Guidance: The Science Based Targets Initiative provides norms for emissions from forests, land, and farming, allowing companies to align with global standards.

Recommended Steps

• Efficiency Improvements:
  • Reduce energy use in processing plants.
  • Shift to renewable energy.
  • Improve cold-chain and transport efficiency to cut emissions and costs.
• Targeted Trials in Sourcing Regions:
  • Rice: Alternate wetting and drying to reduce methane and water use.
  • Dairy: Enhanced animal feed, livestock health, and manure management for higher productivity.
• Collaboration & Measurement:
  • Partner with research institutions and agricultural centers.
  • Use satellite mapping and standardized records to monitor emissions collectively.
• Policy Support:
  • Publish emission standards for crops.
  • Provide open land-use datasets and expand extension networks.
  • Reward suppliers in public procurement schemes for cleaner production.
  • Establish a national framework for private supply chain emissions, with clear baselines and verification norms.

Facts To Remember

1. “Rage-Bait” Named OED Word of the Year

The Oxford English Dictionary (OED) has named “rage-bait” as its Word of the Year 2025, reflecting the growing influence of manipulative tactics used to drive online engagement. Its usage reportedly tripled in 2025, surpassing contenders “aura farming” and “biohack”.

• Rage-bait: Content (articles, videos, social media posts, etc.) deliberately created to provoke anger, outrage, or strong emotional reactions from an audience.
• Aura Farming: Cultivating an air of confidence, mystique, or coolness to attract attention online
• Biohack: Using diet, exercise, tech, or drugs to enhance physical or mental performance for social validation

2. MoS Kirti Vardhan Singh attends Diwali UNESCO recognition ceremony at Sri Ram Temple in Kenya

Union Minister of State for External Affairs Kirti Vardhan Singh joined the celebrations at the historic Sri Ram Temple in Kenya to mark Diwali’s inclusion in UNESCO’s Representative List of the Intangible Cultural Heritage of Humanity. 

4. Rajya Sabha hails UNESCO inscription of Deepawali as Intangible Cultural Heritage

The Rajya Sabha today hailed the inscription of Deepawali in the UNESCO’s Intangible Cultural Heritage List. 

5. ACS Supriya Sahu of Tamil Nadu wins UNEP 2025 Champions of the Earth Award

The Additional Chief Secretary of the Department of Environment, Climate Change and Forests of Tamil Nadu, Ms Supriya Sahu, has won the UN Environment Programme’s 2025 Champions of the Earth Award. 

6. NABARD survey indicates rising incomes and improved household well-being in rural India

The Ministry of Finance said that the latest NABARD Rural Economic Conditions and Sentiments Survey shows a strong and broad-based revival in rural demand.