Daily Current Affairs Quiz24 October, 2025 National Affairs 1. Skilling for AI Readiness (SOAR) Source: PIB Context: The Skilling for AI Readiness (SOAR) program in India represents a strategic initiative by the Ministry of Skill Development and Entrepreneurship (MSDE) to integrate artificial intelligence competencies into India’s educational framework. This aligns with the government’s goal to lead in global technological advancements.  About the Program A flagship initiative under the Skill India Mission, designed to build AI literacy and competency among students (Classes 6–12) and educators. The programme combines structured learning, hands-on practice, and ethics-based training to prepare India’s youth for AI-driven careers. Implemented by: Mission of SOAR Aim: Key Features 2. NFR Introduces Intrusion Detection System to Protect Elephants Source: IE The Northeast Frontier Railway (NFR) has deployed an Intrusion Detection System (IDS) along key elephant corridors to prevent train–elephant collisions. About IDS An AI- and sensor-based surveillance system that uses vibration-sensitive fibre optic cables to detect elephants or other large animals near railway tracks and send instant alerts to control rooms. Aim: How it Works Key Features 3. Coast is Clear for Doing Business Sustainably – NITI Aayog Report Context: NITI Aayog has proposed reforms to coastal regulation and green cover requirements to unlock land for economic activities while balancing environmental concerns. Key Proposals: Concerns & Risks: Way Forward: 4. Blackbuck Makes Comeback in Chhattisgarh’s Barnawapara Sanctuary Context: The blackbuck, declared locally extinct in Chhattisgarh in 2017, has made a remarkable recovery under ax five-year revival plan (2021–2026) in Barnawapara Wildlife Sanctuary. About Barnawapara Wildlife Sanctuary A protected forest and wildlife sanctuary in Chhattisgarh, known for rich biodiversity, thriving herbivore and carnivore populations, and grassland–forest ecosystems that support both conservation and eco-tourism. Conservation Status Key Features 5. India Endorses Transboundary Conservation Plan under CAMI Context: Central Asian nations, including India, have endorsed a six-year transboundary conservation plan under the Central Asian Mammals Initiative (CAMI) to protect 17 migratory mammal species across Central Asia’s vast ecological corridors. The plan aims to enhance regional cooperation to address shared threats like habitat loss, illegal hunting, and climate change impacts. About Central Asian Mammals Initiative (CAMI) The Central Asian Mammals Initiative (CAMI) is a collaborative conservation framework under the Convention on the Conservation of Migratory Species of Wild Animals (CMS). It seeks to ensure the survival and ecological connectivity of migratory and nomadic mammal species across the Central Asian landscape. Aim Key Features India’s Role 6. India Re-elected as Vice-Chairperson of UNESCO Anti-Doping Bureau Event: UNESCO International Convention against Doping in Sport Objectives Key Features 7. ‘23for23’ Initiative and National Snow Leopard Census Context: India observed International Snow Leopard Day (23 October 2025) with the nationwide ‘#23for23’ campaign. The government unveiled the first-ever National Snow Leopard Census, recording 718 individuals across the Indian Himalayas. About the ‘23for23’ Initiative About the Snow Leopard Banking/Finance 1. Microfinance Institutions (MFIs) Context: Non-Banking Financial Companies (NBFCs) and fintechs are increasing lending to low-income micro-borrowers, a segment traditionally served by Microfinance Institutions (MFIs). This growth is attracting regulatory scrutiny due to potential risks of over-indebtedness. MFIN Guardrails Key Objectives: Functions: 2. New Bank Nomination Rules 2025 Source: TOI Context: The Ministry of Finance has announced that new provisions under the Banking Laws (Amendment) Act, 2025 — relating to nomination facilities, claim settlement, and depositor protection — will come into effect from November 1, 2025. These reforms mark a major step toward improving transparency, flexibility, and uniformity in the banking system. Legal Background Objectives of the New Provisions Key Features of the New Nomination Rules 1. Multiple Nominations (Up to Four) 2. Simultaneous Nomination 3. Successive Nomination 4. Simplified Claim Settlement 5. Uniform Implementation 3. SEBI Proposes Easing Geo-Tagging Requirement for NRIs in KYC Source: BS Context: The Securities and Exchange Board of India (SEBI) has proposed easing the geo-tagging requirement for Non-Resident Indian (NRI) clients during their re-KYC or KYC process. Key Highlights: Significance: 4. Government Securities (G-Sec) Government Securities (G-Secs) are debt instruments issued by the central or state governments to borrow money from the public. They are considered one of the safest investment options because they carry the sovereign guarantee of the government. Types of G-Secs: Key Features: Issuing Authority: Purpose: Investors: 5. RBI Gold Reserves RBI gold reserves represent the total stock of gold held by the Reserve Bank of India as part of the country’s foreign exchange and monetary reserves. These reserves serve as a safe-haven asset, strengthening India’s financial stability, supporting the rupee, and providing insurance against global economic uncertainties. Current Status (as of September 2025) Context and Significance Agriculture 1. NABARD Announces First Investment Under AgriSURE Fund at Global Fintech Festival 2025 Context: At the Global Fintech Festival (GFF) 2025, the National Bank for Agriculture and Rural Development (NABARD) announced its first investment under the AgriSURE Fund, jointly promoted with the Union Ministry of Agriculture and Farmers Welfare. The initiative highlights NABARD’s focus on fostering agritech innovation, rural entrepreneurship, and digital financial inclusion. About AgriSURE Fund The AgriSURE Fund (Agriculture Sector Upscaling and Resilience Enhancement Fund) is a dedicated investment vehicle established by NABARD and the Ministry of Agriculture to support agri-focused startups and technological innovations that enhance productivity, sustainability, and resilience in India’s agricultural sector. Key Objectives: NABARD’s Broader Focus at GFF 2025 At GFF 2025, NABARD showcased several of its supported and funded ventures that are driving innovation and rural financial inclusion, including: Facts To Remember 1. FIDE to probe Kramnik’s comments on Naroditsky World chess governing body FIDE will look into former World champion Vladimir Kramnik’s statements on American Grandmaster Daniel Naroditsky, who died at the age of 29. The Russian had come under fire for his accusations of cheating against Naroditsky. 2. SBI Recognised as World’s Best Consumer Bank 2025 3. Health Minister JP Nadda Highlights India’s Polio Eradication Success on World Polio Day On the occasion of World Polio Day, Health and Family Welfare Minister JP Nadda today highlighted India’s remarkable journey in eliminating polio through unwavering national efforts and strong public participation. 4. Two-Minute Film on

Daily Current Affairs Quiz23 October, 2025 National Affairs 1. Global Forest Resources Assessment (GFRA) 2025 Source: PIB Context: India has made remarkable strides in forest conservation. According to the Global Forest Resources Assessment (GFRA) 2025 by the FAO, India now ranks 9th in total forest area globally and 3rd in annual forest gain. This reflects decades of policy-driven efforts to restore and expand forests across the country. What is GFRA 2025? Global Forest Trends Global Challenges: land conversion, forest degradation, biodiversity loss, and uneven funding. India’s Forest Achievements Challenges for India Way Forward 2. India’s Critical Mineral Recycling Scheme Source: ET Context: The Union Ministry of Mines has stated that feedstock availability for the ₹1,500 crore Critical Mineral Recycling Incentive Scheme will be ensured through the formalisation of collection under the Extended Producer Responsibility (EPR) framework. This step aims to strengthen India’s domestic recycling ecosystem and support local critical mineral recyclers. Key Highlights: 3. Water ATM Initiative Context: Innovative projects in Jharkhand and Maharashtra are turning coal mine discharge from a waste concern into a resource for clean drinking water and sustainable livelihoods. Initiatives such as Water ATMs by ACIC IIT-ISM Dhanbad and mine-water fisheries are leading the way. Water ATM Initiative Automated water-vending machines that purify and dispense treated mine water to communities at nominal costs, ensuring affordable access to clean drinking water. Launch & Collaboration: Developed under the Atal Community Innovation Centre (ACIC) at IIT-ISM Dhanbad in partnership with the Dhanbad Municipal Corporation (DMC). Purpose: Key Features: 4. Draft Labour Policy ‘Shram Shakti Niti’ Source: TH Context: The Ministry of Labour and Employment has released a draft national labour policy, titled Shram Shakti Niti, which seeks to modernize India’s labour framework by building a fair, inclusive, and future-ready employment ecosystem. Key Objectives and Vision The draft policy envisions a system where every worker—formal, informal, or gig-based—has access to dignity, protection, and opportunity. It aims to transform the Ministry’s role from a regulator to a facilitator of employment, using digital tools and artificial intelligence (AI) to seamlessly connect workers, employers, and skill-training institutions. Digital and Data-Driven Employment Ecosystem A central feature of the draft is the expansion of the National Career Service (NCS) into a Digital Public Infrastructure for Employment.This initiative represents a shift towards a data-driven and worker-centric approach, aimed at reducing information asymmetry in the labour market and improving matching efficiency between job seekers and employers. AI and Labour Market Transformations According to the World Bank’s South Asia Development Update (October 2025): The Shram Shakti Niti aims to bridge these gaps through targeted skilling and reskilling programmes, especially in semi-urban and rural areas, aligning skills with industry needs. Skill Development and Education Initiatives The draft encourages: Social Security and MSME Support The draft proposes: Banking/Finance 1. WACR Now Better Aligned with Repo Rate: RBI Report Source: BS Context: The Reserve Bank of India (RBI) has noted that the Weighted Average Call Rate (WACR) showed improved alignment with the policy repo rate during the period September 16–October 16, according to its State of the Economy report released on Monday. Weighted Average Call Rate (WACR) Secured Overnight Rupee Rate (SORR) Money Market Yield Developments Difference Between WACR and SORR Feature WACR SORR Type of Market Uncollateralised (Call Money Market) Collateralised (Repo Market) Security No collateral Backed by government securities Administered by RBI FBIL Use Operating target of monetary policy Benchmark reference rate Risk Level Higher (credit risk involved) Lower (secured by collateral) 2. Mutual Funds Seek Wider Operational Flexibility from SEBI Source: BS Context: India’s mutual fund (MF) industry has urged the Securities and Exchange Board of India (SEBI) to relax restrictive clauses in its regulations governing asset management companies (AMCs). The move comes amid a broader review of Regulation 24(b) of the SEBI (Mutual Fund) Regulations, which limits AMCs’ participation in non-core businesses. Regulation 24(b) of SEBI (Mutual Fund) Regulations, 1996 Regulation 24 of the SEBI (Mutual Fund) Regulations, 1996 governs the general responsibilities and obligations of Asset Management Companies (AMCs) — the entities responsible for managing mutual fund schemes in India.Sub-clause (b) specifically outlines restrictions on business activities of AMCs to ensure investor protection and prevent conflicts of interest. Industry’s Key Demands Top mutual fund houses have made submissions to SEBI as part of its ongoing consultation, seeking greater operational and strategic freedom to expand both domestically and globally. Key relaxations sought include: Background: SEBI’s July 2025 Consultation In July 2025, SEBI released a consultation paper proposing limited relaxations under Regulation 24(b). The proposals included: However, the industry’s latest representations go beyond these proposals, urging a comprehensive overhaul of the Mutual Fund Regulations to reflect the evolution of asset management. Industry’s Broader Rationale AMCs in India have evolved from managing traditional mutual fund schemes to also handling: 3. RBI Allows Banks to Cut Home Loan Spreads for Existing Borrowers Source: BS Context: The Reserve Bank of India (RBI) has introduced a major relief for existing home loan borrowers, allowing banks to reassess and reduce the spread component of floating-rate home loans when a borrower’s credit profile improves. The move aims to bring parity between new and existing borrowers, ensuring fairer pricing of home loans. What Has Changed Earlier Regime: New RBI Rule (Effective October 1, 2025): Why This Matters to Borrowers 4. Banking Laws (Amendment) Act, 2025 Source: News on Air Context: The Finance Ministry has announced that key provisions related to nomination under the Banking Laws (Amendment) Act, 2025 will come into effect from November 1, 2025. These measures are designed to enhance flexibility, transparency, and efficiency in claim settlements for depositors. Key Highlights: 5. RBI Proposes to Mandate Unique Transaction Identifier (UTI) for All OTC Derivative Transactions Source: The Economic Times Context: The RBI has released a draft circular proposing that all over-the-counter (OTC) derivative transactions in India—specifically those related to rupee interest rate derivatives, foreign currency derivatives, forward contracts in government securities, foreign currency interest rate derivatives, and credit derivatives—should carry a Unique Transaction Identifier (UTI) from the next financial year (beginning 1