Daily Current Affairs Quiz10 October, 2025 National Affairs 1. India Launches National Red List Assessment for Flora and Fauna Source: BS Context: India has initiated a landmark National Red List Assessment of Indian Flora and Fauna, aimed at evaluating the extinction risk of nearly 11,000 species of plants and animals by 2030. This first-of-its-kind national exercise will provide a comprehensive picture of species vulnerability and guide evidence-based conservation planning. Key Highlights 2. India to Host 8th International Solar Alliance (ISA) Assembly Source: News on Air Context: India will host the 8th ISA Assembly from October 27–30, 2025, at Bharat Mandapam, New Delhi. The event will bring together governments, industry players, and financial institutions to accelerate global solar energy deployment. About International Solar Alliance (ISA) Membership Key Aims Functions and Initiatives 3. AMRAAM Missile Source: ET Context: The United States has included Pakistan in a modified arms contract with Raytheon Technologies to supply AIM-120 AMRAAM (Advanced Medium-Range Air-to-Air Missiles). About AIM-120 AMRAAM 4. Gharial Classified as “Critically Depleted” in IUCN’s First Green Status Report Source: TOI Context: The International Union for Conservation of Nature (IUCN), in its first-ever “Green Status” assessment, has classified the gharial (Gavialis gangeticus) as “Critically Depleted”, highlighting that the species’ survival depends on restoring free-flowing river habitats and supporting wild breeding in South Asia, particularly India. Key Highlights: Awards & Recognitions 1. Hungarian Writer László Krasznahorkai Wins 2025 Nobel Prize in Literature Source: IE Context: The 2025 Nobel Prize in Literature has been awarded to Hungarian novelist László Krasznahorkai, recognised for his “compelling and visionary oeuvre that, in the midst of apocalyptic terror, reaffirms the power of art.” The Nobel Committee praised his philosophical depth, artistic courage, and unique narrative style, which often unfolds in long, uninterrupted sentences. About the Laureate About the Nobel Prize Banking/Finance 1. Razorpay, NPCI, and OpenAI Partner to Launch Agentic Payments on ChatGPT Source: BS Context: In a pioneering move blending AI and digital payments, Razorpay, the National Payments Corporation of India (NPCI), and OpenAI have jointly launched Agentic Payments — a feature that enables UPI-powered shopping and payments directly within ChatGPT. The initiative marks a first-of-its-kind integration of conversational AI and India’s UPI ecosystem, bringing AI-driven commerce into mainstream digital payments. Key Highlights: 2. RBI Governor Urges Fintechs to Drive Inclusive Growth Using India’s Digital Public Infrastructure Source: TOI Context: Reserve Bank of India (RBI) Governor Sanjay Malhotra urged India’s fintech ecosystem to leverage the country’s Digital Public Infrastructure (DPI) to deliver responsible innovation, promote inclusion, and strengthen India’s journey toward becoming a developed nation by 2047. Key Highlights: Theme Key Points (Simplified) Responsible & Inclusive Innovation – Fintechs should make easy-to-use services, especially for seniors and people not familiar with digital tech.– Earn profits by reaching new users, not just richer or already-served people.– India has around 10,000 fintech companies innovating in payments, loans, and financial inclusion. Extending Digital Public Infrastructure (DPI) Success – Use the success of UPI (Unified Payments Interface) and AePS (Aadhaar Enabled Payment System) to provide loans to small businesses and individuals.– DPI has three layers: Identity (Aadhaar), Payments (UPI, AePS), Data (Account Aggregators). RBI-Led Digital Infrastructure – UMI (Unified Market Interface): Helps trade financial assets digitally and settle with CBDC (Central Bank Digital Currency).– ULI (Unified Lending Interface): Helps lenders use data to give loans to underserved people. Account Aggregator (AA) Framework – Lets users share financial data safely with permission.– 160 million accounts connected, 3.66 billion data requests processed.– Helps create credit history for people without formal loans.– RBI encourages all AA players to integrate more data and work together. Synergy of UMI, ULI, AA – Using these together, 3.2 million loans worth ₹1.7 trillion were given by 58 lenders.– Improves loans, money transfers, and trust in digital finance. NPCI Digital Payment Innovations – AI-based UPI HELP: Chatbot-like help for payments and complaints.– IoT Payments: Pay using smart devices (cars, TVs, watches).– Banking Connect: Easy onboarding and payment settlement for merchants.– UPI Reserve Pay: Block part of credit for recurring payments across apps. 3. SEBI Reviewing Stock Lending and Borrowing Mechanism (SLBM) Source: FE Context: The Securities and Exchange Board of India (SEBI) is reviewing the Stock Lending and Borrowing Mechanism (SLBM) to make it more functional and increase market participation. Despite being allowed, short-selling through SLBM remains minimal in India. Stock Lending and Borrowing Mechanism (SLBM) The Stock Lending and Borrowing Mechanism (SLBM) is a framework in the Indian stock market that allows investors to temporarily lend or borrow securities. It is mainly used to facilitate short selling, hedging, or market-making. How It Works Purpose & Benefits 4. RBI Lifts Ceiling on Loans Against Corporate Debt Context: The Reserve Bank of India (RBI) has removed restrictions on lending against listed corporate debt securities to deepen the corporate bond market, improve liquidity, and facilitate credit access for investors without forcing them to sell holdings. Key Highlights: 5. HSBC India Launches ‘HSBC Innovation Banking’ Platform Source: BL Context: On October 9, 2025, HSBC India launched the “HSBC Innovation Banking” platform in Mumbai to support startups and the growing technology and venture ecosystem in India. Objective: Provide non-dilutive debt funding to startups across all stages, from seed funding to IPO preparation. HSBC in India Full Name: The Hongkong and Shanghai Banking Corporation LimitedEstablished in India: 1853, as Mercantile Bank of India, London and ChinaAcquired by HSBC: 1959Headquarters: Mumbai, MaharashtraCEO (as of 2021): Hitendra Dave Significance Agriculture 1. e-NAM Platform Expanded with 09 New Commodities Source: PIB Context: The Government of India has expanded the National Agriculture Market (e-NAM) by adding 9 new commodities, increasing the total tradable items to 247. About e-NAM Functions Recent Addition 9 new commodities added: Impact: Facts To Remember 1. PM pitches India’s fintech start-ups to Global South Prime Minister Narendra Modi pitched India as a fintech hub for the Global South to “enhance digital cooperation and partnership across the world,” at an event where he shared the stage with Prime Minister of U.K. Keir Starmer, at Mumbai. 2. Champion jockey

Daily Current Affairs Quiz9 October, 2025 National Affairs 1. Draft National Labour and Employment Policy, 2025 Source: TH Context: The Union Ministry of Labour and Employment released the draft National Labour and Employment Policy (NLEP) titled Shram Shakti Niti, 2025 for public consultation on October 8, 2025. The policy envisions a fair, inclusive, and future-ready world of work, aligned with India’s aspiration to become a developed nation by 2047. Key Objective To establish a universal and portable social security system by integrating major national and state-level welfare and employment databases. Universal Social Security Framework The policy proposes creating a universal account integrating: This aims to ensure portability of social security benefits across sectors and geographies, covering formal and informal workers. Core Vision and Principles Major Policy Proposals 2. PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan) Source: TH Context: The Union Ministry of New and Renewable Energy (MNRE) plans to promote India’s flagship solar energy initiative — the PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan) scheme — to several African and island nations through the International Solar Alliance (ISA) platform. PM-KUSUM (Pradhan Mantri Kisan Urja Suraksha evam Utthan Mahabhiyan) Launch: 2019 (by Ministry of New & Renewable Energy, Government of India)Aim: Promote solar energy adoption in the agriculture sector, ensure energy security for farmers, and provide additional income through renewable energy. Objectives Components 3. NITI Aayog Report: Roadmap on AI for Inclusive Societal Development Release Date: 2025Purpose: Outline a strategic plan to leverage Artificial Intelligence (AI) for empowering India’s informal sector workforce through digital inclusion, skilling, and social security integration. Key Highlights: Informal Sector Challenges Role of AI & Digital Infrastructure Need for Urgent Action Key Recommendations Award and Recognitions 1. Nobel Chemistry Prize 2025 Source: TOI Context: The 2025 Nobel Prize in Chemistry was awarded to Susumu Kitagawa (Japan), Richard Robson (Australia/UK), and Omar Yaghi (Jordan/US) for developing metal-organic frameworks (MOFs) — a new class of molecular materials with extraordinary porosity and versatile applications. About MOFs Laureates Name Affiliation Nationality Susumu Kitagawa Kyoto University, Japan Japanese Richard Robson University of Melbourne, Australia British-born, Australian Omar Yaghi University of California, Berkeley, USA Jordanian-American Banking/Finance 1. RBI Unveils Unified Markets Interface (UMI) to Tokenise Financial Assets Source: TOI Context: At the Global Fintech Fest 2025, the Reserve Bank of India (RBI) announced the conceptualisation of a Unified Markets Interface (UMI) a new digital infrastructure aimed at tokenising financial assets and enabling settlements via wholesale Central Bank Digital Currency (CBDC). The initiative marks another milestone in India’s ongoing digital finance transformation. Key Highlights: Tokenisation Tokenisation is the process of representing ownership or rights to an asset in the form of a digital token. Each token acts as a digital certificate of ownership that can be traded or transferred securely. Examples 2. PFRDA Plans to Expand Pension Coverage to Agriculture, SHGs, and Gig Workers Source: BS Context: The Pension Fund Regulatory and Development Authority (PFRDA) is targeting significant expansion of pension coverage in India, with a focus on underserved sectors such as agriculture, self-help groups (SHGs), and gig/platform workers. The announcement was made by PFRDA Chairman S. Ramann at the Global Fintech Fest 2025. Key Highlights 3. RBI Launches Four New UPI Initiatives Source: ET Context: The Reserve Bank of India (RBI) launched four new digital payment initiatives at the Global Fintech Festival 2025, aimed at enhancing convenience, interoperability, and digital adoption in the UPI ecosystem. Key Initiatives Additional Features 4. NPCI’s Credit Line on UPI (Clou) Source: BS Context: The National Payments Corporation of India (NPCI) launched Credit Line on UPI (Clou) in 2023 to make credit as frictionless as digital payments, enabling users to access a pre-approved credit line directly through their UPI app. Nearly two years since its launch, adoption remains limited due to regulatory uncertainty, uneven technological readiness, and low borrower awareness. Key Features of Clou Lessons from UPI’s Impact on Credit Challenges for Clou Policy Recommendations 5. RBI Urges Inclusive & Innovative Fintechs to Leverage Digital Public Infrastructure Source: Mint Context: At the Global Fintech Fest 2025, RBI Governor Sanjay Malhotra called on Indian fintechs to design inclusive, accessible, and innovative financial products, particularly for underserved populations such as senior citizens, individuals with limited digital literacy, and the specially-abled. Key Directives for Fintechs 6. RBI Proposes Revision of Loan Risk Weights Source: ET Context: The Reserve Bank of India (RBI) has proposed lowering risk weights for various loan categories, linking them to borrower risk profiles. Goal: Encourage disciplined credit behaviour, improve capital efficiency, and free up more capital for lending. Key Proposals Loan Category Key Changes / Criteria Revised Risk Weight Previous Risk Weight Expected Impact / Rationale 1. Credit Cards • Transactors: Customers repaying dues in full for past 12 months classified under retail portfolio. • Other users: No change. • Transactors: 75% • Others: 125% 125% (uniform) Encourages banks to acquire high-quality, low-risk customers. 2. Home Loans • Risk weight now linked to Loan-to-Value (LTV) and number of loans. • Up to 2 loans: 20% (LTV ≤50%) → 40% (LTV >80%). • Third loan: up to 60%, with 5% surcharge for loans above ₹3 crore. 20%–60% (plus surcharge, where applicable) 35%–50% (uniform earlier) Introduces risk-based differentiation; supports competitive pricing while maintaining prudence. 3. Personal Loans Excludes housing, education, and vehicle loans. 125% 125% Retained due to high-risk nature of unsecured credit. 4. Corporate Loans • BBB-rated: reduced to 75% • AA-rated: reduced to 20% • Unrated (>₹200 crore exposure): remains 150% 20%–150% (based on rating) 30%–150% Improves capital efficiency for well-rated corporates, incentivising better-rated lending. 5. MSME Lending & Real Estate Risk weights linked to borrower risk profiles. Not specified (dynamic) Varied Aims to improve capital allocation efficiency and align risk with borrower quality. 7. RBI Digital Payments Initiatives AI-based UPI HELP IoT Payments with UPI Banking Connect UPI Reserve Pay 8. Aditya Birla Capital Launches AI-Powered Personal Finance Assistant “SimpliFi” Source: BL Context: Aditya Birla Capital Ltd (ABCL), a leading diversified financial services group, has launched “SimpliFi”, an AI-powered personal finance