Daily Current Affairs Quiz14 October, 2025 National Affairs 1. India’s Retail Inflation Falls to 8-Year Low of 1.54% in September 2025 Source: IE Context: India’s retail inflation fell sharply to an eight-year low of 1.54% in September, falling below the lower tolerance limit of the Reserve Bank of India’s 2-6% target band. The fall is primarily driven by lower food prices. Key Highlights: Drivers of Decline: Retail Inflation Retail inflation measures the increase in prices of goods and services purchased by households over a period of time. It is commonly calculated using the Consumer Price Index (CPI). It reflects how the cost of living changes for consumers. A rise in retail inflation means that everyday items like food, clothing, and fuel are becoming more expensive. 2. India’s Civil Registration System (CRS) Report 2023 Source: TH Context: The Registrar-General of India (RGI) released the Vital Statistics of India based on the Civil Registration System (CRS) 2023 report, which provides official data on births, deaths, and sex ratio at birth across the country. Key Findings Birth Registration Trends Death Registration Trends Sex Ratio at Birth (SRB) Statewise Registration Performance 3. Dr. Sonali Ghosh Wins IUCN WCPA Kenton Miller Award 2025 Source: TH Event Overview: About the IUCN Kenton Miller Award: 4. IUCN World Heritage Outlook 4 Launched Context: The IUCN World Heritage Outlook is a global assessment evaluating the conservation status of all UNESCO natural and mixed World Heritage Sites every 3–5 years. Published by International Union for Conservation of Nature (IUCN) through its World Heritage Programme and World Commission on Protected Areas (WCPA). Previous editions: 2014, 2017, 2020. Aim: Global Findings: Trends in India: 5. PM Surya Ghar Yojana (PMSGY) Context: A joint report by the Institute for Energy Economics and Financial Analysis (IEEFA) and JMK Research & Analytics has highlighted the slow implementation of the PM Surya Ghar Muft Bijli Yojana (PMSGY) despite a surge in applications and government incentives. Key Highlights: Scheme Overview Implementation Challenges 6. Government Launches Fixed-Fare Scheme for Alliance Air to Boost Regional Air Connectivity Source: TOI Context: The Union Ministry of Civil Aviation has launched a fixed-fare scheme on a pilot basis for Alliance Air, India’s only state-owned fixed-wing airline. The initiative aims to test a transparent, stable fare structure while reviving the airline’s performance amid declining passenger numbers. Key Highlights: About the Scheme 7. PM Gati-Shakti Portal Context: The Government of India has opened the PM GatiShakti portal to the private sector, allowing industries, researchers, and developers to access non-sensitive infrastructure data for optimising last-mile delivery, planning logistics, and developing infrastructure-based digital applications. The initiative aims to promote data-driven, integrated planning and public-private collaboration in infrastructure development. Key Highlights: 8. GalaxEye to Launch India’s Largest Private EO Satellite – Mission Drishti Source: TH Context: GalaxEye, an Indian space-tech startup, announced the launch of ‘Mission Drishti’, the world’s first multi-sensor Earth observation (EO) satellite, in Q1 2026. The satellite weighs 160 kg and is India’s largest privately built satellite. It is also the highest-resolution EO satellite developed in the country. Significance: Awards & Recognitions 1. Sveriges Riksbank Prize in Economic Sciences 2025 (Nobel Prize in Economics) Announcement: 13 October 2025Organiser: Royal Swedish Academy of SciencesAward Ceremony: 10 December 2025, Oslo, NorwayPrize Amount: 11 million SEK (split among laureates) Laureates and Contributions Nobel Laureate Affiliation Contribution / Awarded For Joel Mokyr Northwestern University, USA Explaining innovation-driven economic growth; identified prerequisites for sustained growth via technological progress. Showed that societies need practical knowledge, scientific understanding, and a culture open to new ideas. Philippe Aghion Collège de France & INSEAD, France; LSE, UK Jointly awarded with Peter Howitt for theory of sustained growth through creative destruction; co-developed 1992 model showing how new products/technologies replace old ones, driving productivity and growth. Peter Howitt Brown University, USA Emphasized innovation cycles improving living standards, health, quality of life; importance of managing transitions to avoid innovation blockages by vested interests. Prize Highlights and History Banking/Finance 1. SEBI Chief Urges Mutual Fund Trustees to Ensure Fair Fees and Stronger Oversight Source: ET Context: The Securities and Exchange Board of India (SEBI) has emphasized the critical role of mutual fund trustees in ensuring fairness, transparency, and investor protection within the mutual fund industry. Key Highlights: Governance and Oversight Measures SEBI’s Broader Objective 2. Fraudbusters Digi Life: RBI’s AI Tool to Detect Fraud in Real Time Source: ET Context: The Reserve Bank of India (RBI) is developing a next-generation Digital Payments Intelligence Platform (DPIP) to detect and prevent digital payment frauds in real time using Artificial Intelligence (AI). The initiative is being led through the RBI Innovation Hub, in collaboration with banks, telecom operators, and the Indian Cyber Crime Coordination Centre (I4C). Key Highlights: 3. Emirates NBD Bank in Talks to Acquire RBL Bank Source: BS Context: Dubai-based Emirates NBD Bank PJSC is in talks to acquire a controlling stake (around 51%) in RBL Bank, India, for over $1 billion. The bank plans to buy 26% first from institutional investors and then make an open offer for another 25%. JP Morgan is advising Emirates NBD on the deal. Regulatory Aspect: Why it matters: About RBL Bank: About Emirates NBD in India: 4. RBI Allows Banks to Lend in Rupees to Bhutan, Nepal & Sri Lanka Source: TOI Context: On October 1, 2025, the Reserve Bank of India (RBI) allowed Indian banks and their overseas branches to lend in Indian Rupees (INR) to residents of Bhutan, Nepal, and Sri Lanka. These amendments are part of RBI’s efforts to ease external trade and payments, under the Foreign Exchange Management Act (FEMA). Purpose: To facilitate cross-border trade transactions and promote the international use of the Indian Rupee. Other measures by RBI: 5. UPI Goes PIN-Free with Biometric Authentication Source: Mint Context: UPI (Unified Payments Interface) users in India can now authenticate payments using fingerprints or facial scans instead of entering a PIN. This move is aimed at making payments faster, easier, and safer, especially for first-time users and senior citizens. How UPI worked earlier: About biometric authentication: