Daily Current Affairs Quiz27 September, 2025 National Affairs 1. Ek Din Ek Ghanta Ek Saath Source: PIB Context: As part of the Swachhata Hi Seva (SHS) 2025 campaign (17 Sept. – 2 Oct.), Prime Minister Shri Narendra Modi called citizens to participate in Ek Din, Ek Ghanta, Ek Saath, a one-hour nationwide voluntary cleanliness drive at 8:00 AM. Led by the Ministry of Housing & Urban Affairs (MoHUA) and the Department of Drinking Water & Sanitation (DDWS), MoJS. Aim: Features: 2. Ministry of Ayush Launches “Prayas” Integrated Neuro-Rehabilitation Centre at AIIA Goa Source: PIB Context: The Ministry of Ayush launched “Prayas”, India’s first integrated Neuro-Rehabilitation Centre at the All India Institute of Ayurveda (AIIA), Goa. About Prayas: Aim and Function: 3. The Foreign Contribution (Regulation) Act, 2010 (FCRA) Source: IE Context: The Ministry of Home Affairs (MHA) cancelled the FCRA license of climate activist Sonam Wangchuk’s NGO following a violent protest in Leh, citing that his statements “incited” unrest. About FCRA: Key Features: 4. Sabki Yojana, Sabka Vikas Source: News on Air Context: The Ministry of Panchayati Raj (MoPR) will launch the People’s Plan Campaign (PPC) “Sabki Yojana, Sabka Vikas” from 2nd October 2025 to kickstart the preparation of Panchayat Development Plans (PDPs) for FY 2026–27. Objective: Key Features: Banking/Finance 1. RBI Stops Dollar Purchases in July 2025 Amid Rupee Depreciation Context: The Reserve Bank of India (RBI) refrained from purchasing US dollars in July 2025, marking the first zero-dollar purchase month since February 2014. Instead, the central bank sold dollars to stabilise the rupee. Key Highlights: Reason for Refraining from Dollar Purchases Reason Details Stabilise the Rupee Rupee depreciated 2.23% in July 2025; RBI sold $2.54 billion to curb volatility. Policy Priority Shift RBI prioritized currency stability over reserve accumulation to prevent inflation, investor panic, and rising import costs. External Pressures US tariffs, foreign capital outflows, and geopolitical tensions contributed to rupee depreciation, RBI’s dollar sales eased market panic. Impact Impact Details Rupee Stability Reduces short-term volatility and restores market confidence. Forex Reserves Dip Reserves fell by $10.87B, continued interventions could weaken buffers. Imported Inflation Helps limit costlier imports, especially crude oil. Trade Competitiveness Moderate depreciation supports exporters while avoiding extreme volatility. Market Sentiment Signals RBI’s proactive stance, reassuring investors and curbing panic outflows. 2. Weakness of Rupee Context: Right through September, every passing week, the Indian rupee (INR) has been hitting all-time lows in its exchange value with the US dollar (USD). On September 23, the lowest level of 88.6 rupees to a US dollar was recorded. Causes of INR Weakness Cause Details / Explanation Trade Imbalance – Exports stagnant due to global protectionism. – High imports of oil (~85% dollar-priced), electronics, fertilizers → worsens current account deficit (CAD). Investment Slowdown – Weak corporate earnings and global uncertainty → FPI and FDI inflows sluggish or negative. – Example: Net FPI outflows of $1.5 bn recently, reducing dollar supply. Relative Currency Demand – Higher global demand for USD over INR, especially amid global financial tightening. Growth Concerns – Subdued GDP growth (~6.1% in Q1 FY26) lowers investor confidence. Global Financial Tightening – Attractive US asset returns pull capital out of India. Read more>> 3. Bank of Baroda Gains Approval for Bullion Exchange Operations at GIFT City Source: TH Context: Bank of Baroda has been authorised by the International Financial Services Centres Authority (IFSCA) to operate as a Trading-Cum-Clearing Member (TCM) on the India International Bullion Exchange IFSC Limited (IIBX) at GIFT City. Bullion Exchange A Bullion Exchange is a marketplace where precious metals such as gold, silver, platinum, and other metals are traded in standardized forms. These exchanges facilitate buying, selling, and price discovery for bullion, usually in the form of bars, coins, or certificates. Key Features of a Bullion Exchange: 4. RBI Survey on International Trade in Banking Services (ITBS) 2024–25 Source: RBI Annual Survey (2025) Context: The Reserve Bank of India (RBI) released its annual Survey on International Trade in Banking Services (ITBS) for 2024–25, highlighting the performance of Indian banks’ overseas operations and foreign banks in India. Key Highlights: Category Indian Banks Abroad Foreign Banks in India Branch / Employee Growth – Overseas branches ↑ 1.9%– Employee strength ↑ 6.1% — Consolidated Balance Sheet Growth – Branches ↑ 9.1%– Subsidiaries ↑ 4.2% ↑ 17.5% Credit Growth Lending ↑ 5.6% ↑ 8.4% Deposit Growth Deposit mobilisation ↑ 9.4% ↓ 6.8% (vs. 16.4% last year) Income & Profitability – Overseas branches: • Interest income ↑ 8% (vs. 72% last year) • Interest expenses ↑ 9% (vs. 87.5% last year) • Income-to-assets ratio ↓ 5.9% – Subsidiaries:• Income-to-assets ratio ↑ 7.4% – Subsidiaries:Income-to-assets ratio ↓ 7.1% Fee Income Trends ↑ 4.3% ↑ 9.4% Main Fee Income Drivers Credit-related services, trading, payments, trade finance Same (credit-related, trading, payments, trade finance) Top Locations for Indian Banks’ Fee Income (2024–25): Significance 5. NPCI International & QNB Enable UPI Payments for Indian Travellers in Qatar Source: BS Context: In September 2025, NPCI International Payments Limited (NIPL), a wholly owned subsidiary of NPCI, in partnership with Qatar National Bank (QNB), launched QR-based Unified Payments Interface (UPI) services for Indian travelers in Qatar. Key Highlights: 6. RBI Renews Statement of Commitment to FX Global Code Source: BS Context: In September 2025, the Reserve Bank of India (RBI) reaffirmed its commitment to global best practices in the foreign exchange (FX) market by renewing its Statement of Commitment (SoC) to the FX Global Code. The Foreign Exchange (FX) Market, also called the Forex Market, is a global marketplace for buying, selling, and exchanging currencies. It is the largest and most liquid financial market in the world. Key Highlights: About FX Global Code: 7. SEBI Raises Custodian Net Worth Requirement to ₹75 Crore Source: ET Context: In September 2025, the Securities and Exchange Board of India (SEBI) increased the minimum net worth requirement for custodians from ₹50 crore to ₹75 crore to strengthen risk management systems. Key Highlights: Custodian Responsibilities: 8. Societe Generale expands in India with the launch of the GIFT City branch Source: BL Context: Paris-based Societe
Sabki Yojana, Sabka Vikas
Source: News on Air Context: The Ministry of Panchayati Raj (MoPR) will launch the People’s Plan Campaign (PPC) “Sabki Yojana, Sabka Vikas” from 2nd October 2025 to kickstart the preparation of Panchayat Development Plans (PDPs) for FY 2026–27. Objective: Key Features:
Soilification Technology
Source: TH Context: Researchers at the Central University of Rajasthan (CUoR) successfully cultivated wheat in Ajmer’s desert land using an innovative biotechnology method called ‘soilification’, demonstrating a breakthrough in combating desertification and enhancing arid agriculture. About Soilification Technology: Key Features: Significance:
Kerala Bank Signs MoU with KSUM to Launch FinTech Innovation Zone
Context: Kerala Bank, in collaboration with the Kerala Startup Mission (KSUM), has launched a FinTech Innovation Zone to promote digital innovation in cooperative banking. The initiative was inaugurated by Chief Minister Pinarayi Vijayan during an IT Conclave organized by Kerala Bank. Key Highlights: Aspect Details FinTech Innovation Hub A 1,000 sq. ft. hub to be set up at Kerala Bank’s IT Department, Kakkanad (Kochi). Startup Support Cohort-based FinTech Accelerator programmes to identify and nurture promising startups. Co-Creation Development of digital banking solutions tailored for Kerala Bank and cooperative banking sector. Role of KSUM Kerala Startup Mission (KSUM) will handle: – Setting up the hub – Designing accelerator programmes – Incubation and technical advisory – Investor relations – Access to funding schemes (innovation grants, seed loans)
RBI Stops Dollar Purchases in July 2025 Amid Rupee Depreciation
Context: The Reserve Bank of India (RBI) refrained from purchasing US dollars in July 2025, marking the first zero-dollar purchase month since February 2014. Instead, the central bank sold dollars to stabilise the rupee. Key Highlights: Reason for Refraining from Dollar Purchases Reason Details Stabilise the Rupee Rupee depreciated 2.23% in July 2025; RBI sold $2.54 billion to curb volatility. Policy Priority Shift RBI prioritized currency stability over reserve accumulation to prevent inflation, investor panic, and rising import costs. External Pressures US tariffs, foreign capital outflows, and geopolitical tensions contributed to rupee depreciation, RBI’s dollar sales eased market panic. Impact Impact Details Rupee Stability Reduces short-term volatility and restores market confidence. Forex Reserves Dip Reserves fell by $10.87B, continued interventions could weaken buffers. Imported Inflation Helps limit costlier imports, especially crude oil. Trade Competitiveness Moderate depreciation supports exporters while avoiding extreme volatility. Market Sentiment Signals RBI’s proactive stance, reassuring investors and curbing panic outflows.
RBI Survey on International Trade in Banking Services (ITBS) 2024–25
Source: RBI Annual Survey (2025) Context: The Reserve Bank of India (RBI) released its annual Survey on International Trade in Banking Services (ITBS) for 2024–25, highlighting the performance of Indian banks’ overseas operations and foreign banks in India. Key Highlights: Category Indian Banks Abroad Foreign Banks in India Branch / Employee Growth – Overseas branches ↑ 1.9%– Employee strength ↑ 6.1% — Consolidated Balance Sheet Growth – Branches ↑ 9.1%– Subsidiaries ↑ 4.2% ↑ 17.5% Credit Growth Lending ↑ 5.6% ↑ 8.4% Deposit Growth Deposit mobilisation ↑ 9.4% ↓ 6.8% (vs. 16.4% last year) Income & Profitability – Overseas branches: • Interest income ↑ 8% (vs. 72% last year) • Interest expenses ↑ 9% (vs. 87.5% last year) • Income-to-assets ratio ↓ 5.9%– Subsidiaries: Ratio ↑ 7.4% Income-to-assets ratio ↓ 7.1% Fee Income Trends ↑ 4.3% ↑ 9.4% Main Fee Income Drivers Credit-related services, trading, payments, trade finance Same (credit-related, trading, payments, trade finance) Top Locations for Indian Banks’ Fee Income (2024–25): Significance
RBI’s Supervisory Data Quality Index (sDQI) Improves in June 2025
Source: Economic Times Context: The Reserve Bank of India (RBI) reported a steady improvement in the Supervisory Data Quality Index (sDQI), which evaluates the quality of data submitted by Scheduled Commercial Banks (SCBs). Key Highlights: Significance About sDQI
RBI’s Supervisory Data Quality Index (sDQI) Improves in June 2025
Source: Economic Times Context: The Reserve Bank of India (RBI) reported a steady improvement in the Supervisory Data Quality Index (sDQI), which evaluates the quality of data submitted by Scheduled Commercial Banks (SCBs). Key Highlights: Significance About sDQI
Societe Generale expands in India with the launch of the GIFT City branch
Source: BL Context: Paris-based Societe Generale has launched a new IFSC Banking Unit (IBU) at Gujarat International Finance Tec-City (GIFT City), Gujarat, to enhance its financial services for Indian clients. About the Societe Generale IBU: About GIFT City:
SEBI Raises Custodian Net Worth Requirement to ₹75 Crore
Source: ET Context: In September 2025, the Securities and Exchange Board of India (SEBI) increased the minimum net worth requirement for custodians from ₹50 crore to ₹75 crore to strengthen risk management systems. Key Highlights: Custodian Responsibilities:
