Daily Current Affairs Quiz25 October, 2025 National Affairs 1. PM SHRI Scheme Context: Kerala’s Minister for General Education, V. Sivankutty, has termed the State’s decision to join the PM Schools for Rising India (PM SHRI) scheme as a “tactical move” to counter the Centre’s denial of education funds. The announcement came amid criticism from the Communist Party of India (CPI) and other Left allies opposing the scheme’s perceived ideological motives. About PM SHRI Scheme Launched in September 2022, the PM Schools for Rising India (PM SHRI) scheme aims to upgrade existing schools into model institutions demonstrating National Education Policy (NEP) 2020 principles — focusing on experiential learning, digital education, and holistic development. 2. Gyan Bharatam Mission Source: TH Context: The Gyan Bharatam Mission, a flagship initiative of the Union Ministry of Culture, is set to sign Memorandums of Understanding (MoUs) with around 20 institutions across India for the conservation, digitisation, and promotion of the country’s rich manuscript heritage. Another 30 institutions are expected to join in the coming days. Key Highlights: 3. Indian Coast Guard Launches Two Indigenous Fast Patrol Vessels Source: PIB Context: The Indian Coast Guard (ICG) achieved a major milestone in its maritime security mission with the launch of two advanced Fast Patrol Vessels (FPVs) — ICGS Ajit and ICGS Aparajit — at Goa Shipyard Limited (GSL) on October 24, 2025. These vessels are the 7th and 8th in a series of eight indigenously built FPVs, marking a significant stride in India’s coastal surveillance and defence readiness. About the New Fast Patrol Vessels (FPVs) Operational Roles 4. Western Ghats Listed Under “Significant Concern” in IUCN World Heritage Outlook 4 Source: TH Context: The International Union for Conservation of Nature (IUCN), in its latest World Heritage Outlook 4 (2025), has downgraded the Western Ghats to the “Significant Concern” category. The report cites climate change, unregulated tourism, deforestation, and the spread of invasive species as major threats to this ecologically fragile region. About the Western Ghats Geographical Features Geological Background Biodiversity Richness Major Threats Identified by IUCN Banking/Finance 1. RBI Proposes New Norms to Allow Banks to Fund Corporate Acquisitions Source: BS Context: The Reserve Bank of India (RBI) has issued a draft circular proposing to allow banks to finance acquisitions by Indian corporates both domestic and overseas marking a major policy shift in corporate financing regulations. The move aims to strengthen domestic participation in mergers and acquisitions (M&A) while ensuring financial stability through prudential exposure limits. Key Highlights: 2. RBI Proposes Cap on Banks’ Capital Market and Acquisition Financing Exposure Source: ET Context: In a move to strengthen financial stability and curb excessive risk-taking, the Reserve Bank of India (RBI) has proposed a new prudential framework limiting banks’ exposure to capital markets and acquisition financing. The draft circular aims to ensure that banks maintain adequate capital buffers while supporting credit growth in India’s expanding economy. Key Highlights of the Draft Norms: Exposure Limits Rules for Acquisition Finance Revised Norms for NBFC Exposure RBI has also proposed lower risk weights for NBFCs’ infrastructure loans, particularly for well-established projects. This will likely reduce capital requirements for banks, enhancing credit availability to the infrastructure sector. Significance: 3. SEBI Restricts Mutual Funds from Participating in Pre-IPO Placements Source: ET Context: The Securities and Exchange Board of India (SEBI) has issued a clarification restricting mutual funds (MFs) from participating in pre-IPO placements of equity shares. The decision aims to safeguard investors and ensure that MF portfolios remain compliant with listing requirements. Key Highlights: 4. Simplified GST Registration under GST 2.0 Context: Finance Minister Nirmala Sitharaman has announced that a simplified Goods and Services Tax (GST) registration system under GST 2.0 will be implemented from November 1, 2025. The reform aims to enhance ease of doing business, reduce human interface, and make the tax administration more efficient and transparent. Key Highlights: 5. RBI Proposes Lower Risk Weights for NBFC Loans to High-Quality Infrastructure Projects Source: BL Context: The Reserve Bank of India (RBI) has proposed reducing risk weights on loans given by Non-Banking Financial Companies (NBFCs) to high-quality operational infrastructure projects, according to draft guidelines released on October 24, 2025. The move seeks to reduce financing costs, promote infrastructure lending, and align capital norms with actual project risk. Key Highlights: 6. RBI Exempts Swamih Fund from Tightened AIF Rules Source: TOI Context: The Reserve Bank of India (RBI) has granted an exemption to the Swamih Investment Fund—a government-backed initiative supporting stalled real estate projects—from its recently tightened regulations on Alternate Investment Funds (AIFs). About Swamih Fund: RBI’s 2024 Tightened Rules on AIFs: Exemption Details: 7. SBI and BoB to Lead Digital Payments Intelligence Body to Curb Fraud Source: ET Context: State Bank of India (SBI) and Bank of Baroda (BoB) will spearhead the establishment of a digital payments intelligence platform aimed at detecting and preventing fraudulent transactions in real time across banks. Entity Formation: Objectives: 8. RBI Proposes Higher Loan-to-Value Limits for Loans Against Shares and Debt Mutual Funds Source: ET Context: The Reserve Bank of India (RBI) released a draft circular on October 25, 2025, proposing to raise the LTV ceilings and loan limits for individuals availing loans against shares and debt mutual funds. The move aims to enhance credit flow, align prudential norms with market dynamics, and streamline capital market exposures. Key Highlights of the Draft Proposal: 1. Increased Loan-to-Value (LTV) Ratios: 2. Loan Amount Limits: 3. Risk Management Conditions: Objective and Rationale 9. PMS Transfer Between Managers Gets SEBI Nod Source: BS Context: The Securities and Exchange Board of India (SEBI) has allowed the transfer of Portfolio Management Services (PMS) businesses from one portfolio manager to another, subject to regulatory approval. The decision aims to bring greater operational flexibility, continuity of client services, and consolidation efficiency in India’s portfolio management industry. Key Highlights of the SEBI Circular: 1. Transfer Permitted with SEBI Approval 2. Intra-Group Transfers 3. Inter-Group Transfers 4. Post-Transfer Obligations Objective and Rationale About Portfolio Management Services (PMS) Portfolio Management Services (PMS) are investment management services offered by