Daily Current Affairs Quiz9 September, 2025 National Affairs 1. Two-Factor Authentication (2FA) and TOTP Source: TH Context: With rising cyber threats, passwords alone are no longer secure. Many online services now rely on Two-Factor Authentication (2FA), often implemented through apps like Google Authenticator, which generate time-based one-time passwords (TOTPs). What is 2FA? What are OTPs and TOTPs? How Does TOTP Work? Because both your phone and the server share the secret key and use the same time slice, they generate identical codes. Read more>> 2. Bhil Tribe Source: TH Context: The Union government’s new translation initiative for tribal languages has enabled the publication of Anuvad, a Hindi collection of Bhil folk tales from Madhya Pradesh. The e-booklet will be made available on the Tribal Affairs Ministry’s Adi Vaani website and app. Bhil Tribe: Adi Vaani Platform: 3. Vice President of India Election Context: Prime Minister of India cast the first vote in the Vice Presidential election, where CP Radhakrishnan and Justice B. Sudershan Reddy are contesting. Electoral Process: Quota Calculation (Winning Threshold): Counting & Transfer of Votes (Single Transferable Vote – STV): Constitutional Provisions: Eligibility Criteria: Key Features of the Office: 4. Pallas’s Cat Source: TOI Context: A wildlife survey by WWF-India in collaboration with the Arunachal Pradesh Forest Department has provided the first-ever photographic evidence of Pallas’s cat in the state, reaffirming the eastern Himalayas’ position as a global biodiversity hotspot. About Pallas’s Cat: Banking/Finance 1. SEBI Postpones Settlement for Cash and SLBM Segments Source: BS Context: The Securities and Exchange Board of India (SEBI) announced changes in the settlement schedule for cash and securities lending and borrowing mechanism (SLBM) market segments due to clearing corporation holidays. Key Highlights: 2. SAT Asks Sebi to Explain Non-Disclosure of Documents in Jane Street Case Source: ET Context: On 10 September 2025, the Securities Appellate Tribunal (SAT) directed Sebi to file a reply within three weeks explaining why it has not disclosed certain documents to US-based trading firm Jane Street in the ongoing derivatives market manipulation case. Background: SEBI Norms Potentially Invoked: Securities Appellate Tribunal (SAT) The Securities Appellate Tribunal (SAT) is a quasi-judicial body in India that adjudicates disputes and appeals arising from decisions of the Securities and Exchange Board of India (SEBI), the Insurance Regulatory and Development Authority of India (IRDAI), and the Pension Fund Regulatory and Development Authority (PFRDA). Establishment: 3. Reinsurance India Context: Jio Financial Services Ltd (JFSL) and Allianz Germany have incorporated a joint venture company named Allianz Jio Reinsurance Ltd (AJRL) to operate in the Indian reinsurance sector, reflecting the growing demand for risk management solutions in the country. What is a Reinsurer? Key Functions of a Reinsurer: Types of Insurance Type of Insurance Description Examples Life Insurance Covers death, disability, or survival risks. Provides financial security to dependents. Term insurance, Endowment plans, ULIPs General (Non-Life) Insurance Covers property, health, vehicles, liability, etc. Health insurance, Motor insurance, Home insurance, Travel insurance Reinsurance Insurance for insurance companies to share/transfer risk. Can be treaty-based (portfolio) or facultative (specific risk). Allianz Re, Swiss Re, GIC Re (Only Indian reinsurer company in India) Microinsurance Low-cost insurance for low-income populations. Crop insurance for small farmers, Livestock insurance Who Regulates Insurance in India? 4. Ujjivan Small Finance Bank Awaits RBI Nod for Universal Bank Licence Source: Mint Context: Ujjivan Small Finance Bank (SFB) is awaiting the Reserve Bank of India’s (RBI) decision on its application for a universal banking licence, which could come by December 2025, according to CEO Sanjeev Nautiyal. About Universal Bank: A universal bank in India is a financial institution that provides the entire spectrum of banking services, including: Criteria to Become a Universal Bank in India (RBI Guidelines): 5. SBI Launches “Dream2Demo” Startup Pitch Fest Context: State Bank of India (SBI), through its Start-up Branch, hosted its first-ever Startup Pitch Fest called “Dream2Demo” to provide a platform for entrepreneurs to showcase their business ideas directly to leading investors. The event was held to promote innovation and strengthen India’s startup ecosystem. Key Highlights: Related Initiatives: About SBI: Economy 1. Small Business Spotlight Report Context: The Small Industries Development Bank of India (SIDBI), in collaboration with CRIF High Mark, released the Small Business Spotlight report, providing insights into lending trends, borrower segments, and geographic distribution of small business credit in India. Key Highlights: Credit Growth Top Borrower Segments Segment Contribution / Growth Key Insight Enterprises Portfolio growth 24.7% YoY Highest growth in outstanding credit Sole Proprietors with Entity Presence Borrower count growth 9.3% YoY Fastest increase in number of borrowers Sole Proprietors >75% of outstanding credit, >85% of active loans Dominant segment in terms of volume Geographic Distribution Top States by Portfolio Outstanding: Rank State Outstanding (₹ Thousand cr) YoY Growth (%) % Share 1 Maharashtra 606.2 16.4 13.4% 2 Tamil Nadu 421.9 15.7 9.3% 3 Gujarat 369.2 17.8 8.2% 4 Uttar Pradesh 361.7 20.7 8.0% 5 Karnataka 318.6 15.3 7.0% Read more>> Facts To Remember 1. Sankarshan Thakur, senior journalist, passes away Sankarshan Thakur, Editor of The Telegraph, passed away in a Gurgaon hospital on Monday. He was 63. 2. Macron Appoints Defence Minister Lecornu, 39, as France’s New PM French President Emanuel Macron late on Tuesday appointed defence minister Sébastien Lecornu (in pic) as France’s new Prime Minister, the country’s fourth in about a year. 3. Doctors to bat for Healthcare League cancer awareness In a unique initiative to promote cancer awareness, doctors, including former Director General of ICMR Prof Balram Bhargava, will swap their stethoscopes for cricket bats.