Daily Current Affairs Quiz2 September, 2025 National Affairs 1. Unified District Information System for Education Plus (UDISE+) Report 2024-25 Source: PIB Context: The Ministry of Education has released the Unified District Information System for Education Plus (UDISE+) 2024-25 report, presenting the latest status of school education in India. While basic infrastructure like toilets and drinking water has achieved near-universal coverage, serious concerns remain around digital access, teacher shortages, and uneven enrolment trends. What is UDISE+? Key Findings of UDISE+ 2024-25 Digital Divide Infrastructure Read more>> 2. DBT–BIRAC Launch High-Performance Biomanufacturing Platforms Source: ET Context: The Department of Biotechnology (DBT) and Biotechnology Industry Research Assistance Council (BIRAC) launched High-Performance Biomanufacturing Platforms in New Delhi, under the BioE3 Policy. The initiative was inaugurated by Union Minister of State for Science & Technology, Jitendra Singh. About High-Performance Biomanufacturing Platforms Aims & Objectives Key Features 3. SEMICON India 2025 Source: TOI Context: At SEMICON India 2025, Prime Minister Narendra Modi unveiled India’s first homegrown semiconductor chip, named ‘Vikram’, marking a landmark step in India’s semiconductor ecosystem. India Semiconductor Mission (ISM) About Vikram Chip The Vikram Chip is India’s first indigenously manufactured semiconductor chip, developed under the government’s Semicon India initiative to strengthen the domestic electronics manufacturing ecosystem. It was unveiled in 2025, marking a historic milestone for India’s entry into the global semiconductor value chain. Key Features of Vikram Chip 4. India–US Yudh Abhyas Army Exercise 2025 Source: PIB Context: India and the United States have begun their largest-ever edition of the Yudh Abhyas Army exercise at Fort Wainwright, Alaska, despite recent tariff-related trade tensions between the two nations. About Yudh Abhyas: Participants (2025): Banking/Finance 1. Deutsche Bank Plans to Exit Indian Retail Banking Source: Mint Context: Deutsche Bank is reportedly exploring the sale of its Indian retail banking assets, inviting bids from domestic and foreign lenders. This comes as part of its global strategy to make retail operations more profitable and streamline branch presence. Retail Banking Assets Retail banking assets are the loans, deposits, and services that a bank provides directly to individual customers (not businesses or corporates). Think of it as the part of a bank’s business that deals with “common people”—your savings account, home loan, credit card, etc. Examples: Deposits + Loans + Cards + Services = Retail Banking Assets Difference from Corporate Banking Retail Banking Corporate Banking Serves individuals and households Serves companies, firms, large institutions Products: savings accounts, home loans, credit cards Products: business loans, working capital, trade finance, treasury services Many small customers Few large customers RBI Guidelines and Legal Provisions When a bank (foreign or Indian) wants to sell its retail assets in India, RBI’s approval is mandatory. Key laws and rules: About Deutsche Bank in India 2. RBI Update on Withdrawal of ₹2000 Banknotes Source: RBI Context: The Reserve Bank of India (RBI) announced the withdrawal of ₹2000 denomination banknotes on May 19, 2023. RBI periodically updates the status of returned notes. As of August 31, 2025, almost all ₹2000 notes have been returned. Background ₹2000 note was introduced in November 2016 (post-demonetisation) to quickly meet currency needs. RBI’s Clean Note Policy RBI Act, 1934 Impact Sources of Income of RBI Source of Income Explanation Example Seigniorage (Currency Issuance) Profit earned from issuing currency at face value higher than printing cost Printing a ₹500 note costs ~₹5, but RBI issues at ₹500 → profit = ₹495 Investment in Foreign Assets Earnings from interest on foreign exchange reserves invested in safe securities US Treasury bonds, Euro Govt bonds Government Securities (Domestic) Interest income from GoI bonds & Treasury bills held by RBI Holding G-Secs bought during OMO operations Lending to Banks (Repo/MSF) Interest earned from short-term lending to commercial banks Repo rate lending to SBI, HDFC Bank Government Debt Management Fees Commission for managing central & state govt borrowings Issuing and servicing G-Secs on behalf of Govt Banking Services Fees Charges for providing settlement and payment systems RTGS/NEFT transactions, cheque clearing Other Investments (Gold, Bonds) Returns from gold reserves & other financial instruments Income from RBI’s gold holdings 3. India’s Current Account Deficit Source: ET Context: The Reserve Bank of India (RBI) reported that India’s current account deficit (CAD) fell sharply to $2.4 billion (0.2% of GDP) in Q1FY26 (April–June 2025), compared to $8.6 billion (0.9% of GDP) in Q1FY25. This came after a current account surplus of $13.5 billion (1.3% of GDP) in Q4FY25. What is Current Account Deficit? Key Components of Current Account Causes of CAD in India Impact of CAD on India Positive (Short-term) Negative (Long-term) Can support domestic consumption & growth via imports (oil, machinery) Weakens rupee (depreciation pressure) Indicates demand for capital goods (industrial growth) Higher external debt as CAD financed by borrowing May attract FDI/FPI to finance gap Rising inflation (imported oil & goods) Shows integration with global economy Reduces forex reserves if persistent RBI and Government Role Acts & Provisions 4. India’s Path to Universal Health Care (UHC) Source: TH Context: The debate on India’s Universal Health Care (UHC) has intensified with rising budgets for Ayushman Bharat–PMJAY and State Health Insurance Programmes (SHIPs). The Bhore Committee Report (1946) laid the foundation for Universal Health Care (UHC) in India, advocating a publicly funded, comprehensive health system. Growth of Health Insurance in India: Fault Lines in Insurance Expansion: Structural Risks for UHC: International Comparisons: Way Forward: 5. External Commercial Borrowings (ECBs) in India Source: BS Context: The net inflows of foreign resources via External Commercial Borrowings (ECBs) rose to $4.6 billion in April-June period of the financial year 2025-26 (Q1FY26) from $ 2.8 billion in the same period previous year, the Reserve Bank of India data showed. What are ECBs? RBI’s Role in Managing ECBs The Reserve Bank of India (RBI) is the main regulator of ECBs. Its role includes: Impact of ECB Inflows Implications Acts & Provisions (Important for RBI Exam) Facts To Remember 1. Earthquake Strikes Afghanistan A strong earthquake and multiple aftershocks collapsed homes onto sleeping families in a remote, mountainous region in Afghanistan, killing more than 800