Daily Current Affairs Quiz28 October, 2025 National Affairs 1. Great Nicobar Project Source: ET Context: Union Home Minister Amit Shah, while addressing an event in Mumbai, highlighted India’s ambitious maritime vision linked to the Great Nicobar Project, aimed at transforming the island into a major maritime and logistics hub. Key Highlights: 2. Electronics Components Manufacturing Scheme (ECMS) Source: BS Context: The Government of India has approved the first batch of seven projects under ECMS worth ₹5,532 crore, expected to generate ₹36,559 crore in production. The scheme is part of India’s strategy to strengthen domestic electronics manufacturing and reduce dependence on imports. Key Highlights: 3. Mission for Aatmanirbharta in Pulses (2025–31) Source: Indian Express Context: The Government of India launched the Mission for Aatmanirbharta in Pulses on October 11, 2025, aiming to boost domestic pulse production, enhance farmer incomes, and reduce import dependence from countries such as Myanmar and Canada. The mission was first announced in the Union Budget 2024–25. Objectives: Implementation: Key Features: 4. Global Multidimensional Poverty Index Report 2025 Context: The 2025 Global Multidimensional Poverty Index (MPI) report, titled Overlapping Hardships and Climate Hazards, highlights the intersection of climate change and global poverty. The report overlays climate-hazard data with multidimensional poverty indicators—including health, education, and living standards—for the first time. Key Findings: Definitions / Key Terms: Banking/Finance 1. SEBI Proposes Easing Compliance for High Value Debt-Listed Entities Source: Mint Context: Here’s a comprehensive, structured, and exam-oriented summary of SEBI’s latest consultation paper (October 2025) on High Value Debt Listed Entities (HVDLEs), with key highlights and statement-based MCQs — formatted for current affairs and financial governance coverage. What are HVDLEs? High Value Debt-Listed Entities (HVDLEs) are companies that have listed outstanding non-convertible debt securities (NCDs) exceeding a specified value and are therefore subject to enhanced corporate governance requirements under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Current Norms (Before Proposal) These entities are required to follow corporate governance standards similar to equity-listed companies, including: Proposed Changes (October 2025 Consultation Paper) 1. Higher Threshold for HVDLE Classification 2. Alignment with Equity-Listed Entity Norms SEBI proposed to harmonize governance norms of HVDLEs with those applicable to equity-listed companies, ensuring consistency across regulations. Key Governance and Disclosure Proposals Area Proposed Change Definition of Material Subsidiary Replace the term “income” with “turnover” for uniformity with equity-listed rules. Age Limit for Directors Require special shareholder approval if a director is aged above 75 years. Nominee Directors Exempt directors appointed by courts, tribunals, or regulators from needing shareholder approval. Board Recommendations Boards must provide a rationale for all recommendations made to shareholders. Vacancies in Key Committees Allow 3 months to fill vacancies in Audit, NRC, Stakeholders, and Risk Committees. Independent Director Vacancy Remove the 3-month mandatory filling requirement if minimum board composition is maintained. Intra-Group Transfers Exempt shareholder approval for intra-group asset transfers between subsidiaries. CIRP-Related Companies Give 3 months post-resolution to fill Key Managerial Positions (KMPs). Compliance Reports Replace fixed 21-day filing deadline with a flexible, SEBI-prescribed timeline. Related Party Transactions (RPTs) Exclude RPT disclosures from periodic reports (already covered in half-yearly filings). Secretarial Auditors Introduce clear provisions on appointment, reappointment, and removal of secretarial auditors. Debenture Trustees’ Role Retain the requirement for NOCs from debenture trustees and debenture holders for RPTs. Expected Benefits 2. RBI’s 30th Standing Advisory Committee Meeting on MSME Credit Flow Source: BS Context: The 30th meeting of the Standing Advisory Committee (SAC) to review the flow of credit to the Micro, Small and Medium Enterprises (MSME) sector was held in Coimbatore, chaired by RBI Deputy Governor Swaminathan J. The meeting served as a platform for MSME industry associations to voice concerns related to geopolitical uncertainties and credit challenges. MSME Sector Concerns Recent Regulatory Measures 3. Banks Prefer Direct Assignment Over Co-Lending Source: BS Context: Despite recent relaxations in co-lending norms, Indian banks are showing a clear preference for direct assignment of loans from NBFCs rather than engaging in co-lending arrangements. Direct Assignment vs. Co-Lending: Reasons for Banks’ Preference: Definitions: 4. Gaja Capital Set to Become India’s First Private Equity (PE) Firm Source: Mint Context: Gaja Capital, a leading private equity (PE) firm in India, has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). If successful, it will become India’s first PE firm to go public. Private Equity (PE) Firm A Private Equity (PE) Firm is a financial institution that invests directly in private (unlisted) companies or buys out public companies to make them private, with the aim of enhancing their value and later selling them at a profit through an IPO, merger, or strategic sale. Key Features Types of Private Equity Investments Type Description Venture Capital (VC) Early-stage funding for startups with high growth potential. Growth Capital Funding for mature companies looking to expand or enter new markets. Buyout / Leveraged Buyout (LBO) Acquisition of majority control, often financed through debt. Distressed / Turnaround Investment in struggling companies for restructuring and revival. Fund of Funds (FoF) Investment in other PE or VC funds rather than direct companies. Regulatory Framework in India Difference between PE and Venture Capital Basis Private Equity (PE) Venture Capital (VC) Stage of Investment Mature or established companies Early-stage startups Ownership Majority or controlling stake Minority stake Risk Level Moderate High Investment Size Large (₹100–1000+ crore) Small to medium (₹1–100 crore) Focus Operational efficiency and growth Innovation and scalability 5. SEBI Proposes Incentives to Boost Retail Participation in Corporate Bonds Source: Mint Context: The Securities and Exchange Board of India (SEBI) has proposed measures to encourage retail participation in public debt markets by allowing issuers to offer special incentives to select investor groups. Key Highlights: Definitions / Key Terms: 6. SEBI Proposes Tighter KYC for Mutual Fund Investors Source: Mint Context: The Securities and Exchange Board of India (SEBI) has proposed stricter KYC verification norms for mutual fund (MF) investors to improve compliance, reduce unclaimed dividends/redemptions, and ensure full verification before allowing investments. However, a centralized, interoperable verification system has not yet been implemented.