Daily Current Affairs Quiz26 & 27 October, 2025 National Affairs 1. Lokpal of India Context: The Lokpal of India, the country’s apex anti-corruption ombudsman, is facing renewed scrutiny following a steep decline in complaints—from 2,469 in FY 2022–23 to just 233 in 2025—and public criticism over a tender to purchase seven BMW cars. The developments have raised concerns about the institution’s relevance, credibility, and accountability in India’s anti-corruption ecosystem. About Lokpal of India An independent statutory body established under the Lokpal and Lokayuktas Act, 2013, the Lokpal investigates corruption allegations against public functionaries including the Prime Minister, Ministers, Members of Parliament, and government officials. Historical Context: Composition and Structure Powers and Functions 2. Government Plans Integration of RNI, CBC, and PIB for Unified Media Communication Framework Source: TOI Context: The Government of India is planning to integrate three key media-nodal bodies — the Registrar of Newspapers for India (RNI), Central Bureau of Communication (CBC), and Press Information Bureau (PIB) — under the Ministry of Information and Broadcasting (MIB). The move aims to create a unified, transparent, and responsive communication system for government outreach and media interaction. Key Highlights: Purpose of Integration Agencies Involved Key Features of the Unified System About the Three Key Bodies Institution Key Function Administered By RNI (Registrar of Newspapers for India) Registers and monitors newspapers and periodicals, maintains publisher data MIB CBC (Central Bureau of Communication) Handles government publicity, campaigns, and advertising MIB PIB (Press Information Bureau) Issues press releases, conducts media briefings, and facilitates official communication MIB 3. Trishul Military Exercise Source: TOI Context: India has commenced a major tri-service military exercise named ‘Trishul’ along the western front with Pakistan, involving coordinated participation of the Army, Navy, and Air Force. The exercise is being conducted from October 30 to November 10, 2025, with a NOTAM (Notice to Airmen) issued for large sections of airspace over Rajasthan and Gujarat. Key Highlights: Nature and Objective of Exercise: Location and Scale: Tri-Service Participation: 4. Pradhan Mantri Kaushal Mudra Yojana (PMKMY) Context: The Indian government is preparing to launch a new initiative, Pradhan Mantri Kaushal Mudra Yojana (PMKMY), aimed at integrating financing with skill development to boost workforce readiness across emerging sectors. The announcement is expected in the Union Budget 2026-27. Background and Launch 5. Maha MedTech Mission Source: PIB Context: The Anusandhan National Research Foundation (ANRF), in partnership with the Indian Council of Medical Research (ICMR) and the Bill & Melinda Gates Foundation, has launched the Mission for Advancement in High-Impact Areas (MAHA) – Medical Technology (Maha MedTech). The initiative seeks to accelerate innovation, indigenization, and affordability in India’s medical technology sector while reducing dependence on costly imports. Key Objectives of Maha MedTech Mission Funding Framework Scope of the Mission The mission encompasses a wide spectrum of medical devices and diagnostics, including: Priority Areas: Tuberculosis, cancer, neonatal care, and primary healthcare — aligned with national health priorities and the Ayushman Bharat framework. Enabling Ecosystem and Support Platforms The Maha MedTech Mission will integrate several national initiatives to foster innovation and regulatory facilitation: 6. ISRO to Launch GSAT-7R (CMS-03) Context: The Indian Space Research Organisation (ISRO) is set to launch CMS-03 (GSAT-7R), a next-generation military communication satellite, in November 2025 using the Launch Vehicle Mark-3 (LVM-3) from the Satish Dhawan Space Centre, Sriharikota. The satellite is designed to significantly enhance secure, real-time communication capabilities of India’s defence forces across land, air, and sea. About GSAT-7R (CMS-03) Mission Objective To establish robust, encrypted, and long-range communication links for: The satellite aims to ensure uninterrupted connectivity across vast oceanic regions and remote border terrains, enabling seamless coordination among India’s defence forces. 7. Janjatiya Gaurav Divas 2025 Context: The Union Government has instructed all States and Union Territories to actively prepare for the fifth Janjatiya Gaurav Divas on November 15, 2025, which will mark the culmination of Birsa Munda’s 150th birth anniversary celebrations. The initiative aims to celebrate tribal heritage, showcase cultural contributions, and highlight government schemes targeted at tribal welfare. About Janjatiya Gaurav Divas Theme and Objectives for 2025 Government Initiatives to be Highlighted Banking/Finance 1. India’s Forex Reserves Cross $700 Billion for the First Time Source: TOI Context: India’s foreign exchange reserves have touched a new milestone, crossing the $700 billion mark for the first time. The jump was mainly driven by an increase in gold reserves, boosted by both RBI’s purchases and a rise in global gold prices. Key Highlights: About Forex Reserves: Components of India’s Forex Reserves: 2. Government Clarifies LIC’s Investment Autonomy Source: TOI Context: The Department of Financial Services (DFS) under the Finance Ministry and NITI Aayog clarified that they have no role in the investment decisions of the Life Insurance Corporation of India (LIC). Officials emphasized that LIC’s investments are governed by board-approved policies, and all decisions are made independently, following regulatory norms laid down by SEBI and IRDAI. Key Highlights: Investment Autonomy of LIC About LIC (Life Insurance Corporation of India) 3. MCX Launches Options Trading on Bullion Index ‘Bulldex’ Amid Gold-Silver Price Volatility Source: TOI Context: The Multi Commodity Exchange (MCX) has announced the launch of monthly options contracts on its bullion index ‘Bulldex’, marking a key development in India’s commodity derivatives market. The move follows one of the most intense buying phases in gold and silver that the country has witnessed in recent years. Key Highlights: What is Options Trading? Options Trading is a type of derivatives trading where investors buy or sell contracts that give them the right, but not the obligation, to buy or sell an underlying asset (like a stock, index, or commodity) at a predetermined price (strike price) before or on a specific date (expiry date). Key Concepts 1. Underlying Asset: The financial instrument on which the option is based — for example, Nifty 50, Bank Nifty, or a specific stock like Reliance or Infosys. 2. Option Contract Types: 3. Strike Price: The pre-decided price at which the buyer can buy (in a call) or sell (in a put) the asset. 4. Expiry Date: The date when