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:
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):
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?
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:
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:
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:
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:
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:
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. What is HMAC and Why Use It? Why Is TOTP Secure? Alternatives to TOTP:
Daily Current Affairs (DCA) 7&8 September, 2025
Daily Current Affairs Quiz7 & 8 September, 2025 National Affairs 1. Bodoland Territorial Region (BTR) Source: TH Context: In Assam’s Bodoland Territorial Region (BTR), 21 traditional products — including textiles, musical instruments, beverages, cuisine, and medicinal plants have received Geographical Indication (GI) tags. This youth-led initiative, supported by the BTR government, has created enthusiasm among 26 indigenous communities to preserve and promote their cultural heritage through GI registration. Bodoland Territorial Region (BTR) The Bodoland Territorial Region (BTR) in Assam is a special administrative area created under the Bodo Peace Accord of January 2020, replacing the earlier Bodoland Territorial Area Districts (BTAD). It is administered by the Bodoland Territorial Council (BTC) and aims to ensure political, economic, and cultural rights of the Bodo community while maintaining territorial integrity of Assam. Bodo Tribes of Assam The Bodos are the largest plains tribe of Assam and an integral part of the Bodo-Kachari group, considered one of the oldest Indo-Mongoloid ethnolinguistic groups in Northeast India. About BTR Background 2. National Industrial Classification (NIC-2025) Source: BS Context: The government is preparing an update to the National Industrial Classification (NIC-2025), a standardised system maintained by the National Statistics Office (NSO). The revision aims to better capture new-age sectors like digital services, gig economy, and green industries, ensuring India’s economic data remains accurate and internationally comparable. Background: Key Highlights of NIC-2025 Draft: 3. Operation Guddar Context: An encounter broke out in the Guddar forest of Kulgam, J&K, after terrorists opened fire on security forces during a search operation under Operation Guddar. About Operation Guddar 4. Sample Registration System (SRS) Statistical Report 2023 Source: BS Context: The Sample Registration System (SRS) Bulletin 2023 (Vol. 58 No.1) by the Office of the Registrar General of India highlights sharp declines in birth rate, death rate, infant mortality, and fertility compared to 1971 levels. While overall trends show progress in maternal-child health, family planning, and healthcare access, disparities persist across rural-urban regions and states. Key Findings from SRS 2023: Birth Rate (per 1,000 population) Top 5 States – Highest Birth Rates Bottom 5 States – Lowest Birth Rates Death Rate (per 1,000 population) Top 5 States – Highest Death Rates Bottom 5 States – Lowest Death Rates Read more>> 5. CoWIN Portal Source: The Hindu Context: India’s flagship CoWIN digital vaccination portal has been unavailable since early August 2025, disrupting access to COVID-19 vaccination certificates. Citizens who require vaccination records for travel, employment, and medical purposes are facing difficulties. About CoWIN Portal Launch & Ministry Aim Key Features Banking/Finance 1. Bima Sugam Source: BS Context: The Insurance Regulatory and Development Authority of India (IRDAI) has announced the launch of Bima Sugam, a digital one-stop insurance marketplace, scheduled to debut in December 2025. The initiative is part of IRDAI’s broader “Bima Trinity” strategy to boost financial inclusion and achieve “Insurance for All by 2047.” Key Highlights: Significance: If implemented effectively, Bima Sugam can: 2. RBI’s New Co-Lending Guidelines Context: On 6 August 2025, the Reserve Bank of India (RBI) issued revised guidelines on co-lending arrangements, expanding the framework to all regulated entities and beyond priority sector lending. The move aims to strengthen governance, transparency, and risk-sharing in co-lending but is expected to cause short-term disruptions, particularly for smaller NBFCs and fintechs. Key Highlights: Operational Challenges: Long-Term Outlook 3. Deposit-Backed Credit Cards Context: Banks in partnership with fintechs are introducing secured credit cards backed by customer deposits, targeting first-time borrowers and financially underserved sections. What are Deposit-Backed Credit Cards (Secured Credit Cards)? A Deposit-Backed Credit Card, also known as a Secured Credit Card, is a type of credit card where the cardholder provides a fixed deposit (FD) as collateral with the issuing bank. The credit limit of the card is usually equal to or slightly less than the deposited amount. These cards are primarily designed for: Example: RBI / Regulatory Perspective 4. India’s Central Bank Digital Currency (e-Rupee) Source: Mint Context: With UPI crossing 700 million daily transactions, questions arise on the need for a Central Bank Digital Currency (CBDC). Experts argue that the e-rupee can achieve financial inclusion, compliance, and efficiency in ways that UPI cannot. e-Rupee (Digital Rupee) e-Rupee is the digital version of India’s fiat currency (INR), issued and guaranteed by the Reserve Bank of India (RBI). It is legal tender and functions like physical cash but exists in electronic form. Key Features: Cryptocurrency vs e-Rupee Feature Cryptocurrency e-Rupee (Digital Rupee) Issuer Decentralized, created by private entities Centralized, issued by RBI Legal Status in India Not legal tender; investment allowed Legal tender, backed by RBI Value Stability Highly volatile; depends on market demand Stable; 1 e-Rupee = 1 INR Underlying Technology Blockchain, decentralized ledger Digital ledger, controlled by RBI (CBDC) Purpose Investment, trading, peer-to-peer transfer Digital payments, financial inclusion, faster settlements Regulation Partially regulated; no government guarantee Fully regulated; government-backed Interest / Incentives None inherently FD or bank account may earn interest (depends on storage method) Risk High (market risk, fraud, scams) Low (regulated, government-backed) Agriculture 1. NABARD Takes Steps to Secure GI Tag for Jharkhand’s Traditional Products Source: TOI Context: The National Bank for Agriculture and Rural Development (NABARD) has initiated efforts to secure Geographical Indication (GI) tags for nine traditional products from Jharkhand. The move aims to protect local products, prevent imitation, and enhance market opportunities both nationally and internationally. Key Highlights: 2. 5th Farmer Producer Organisation (FPO) Conclave by Samunnati & NABARD Context: Samunnati, in partnership with NABARD, organized the 5th National FPO Conclave at the Hyderabad International Convention Centre, themed “Partnerships for Sustainability towards a Future-Ready FPO Ecosystem.” The conclave brought together policymakers, industry leaders, and farmer collectives to discuss strategies for strengthening India’s FPO movement. Key Highlights: Facts To Remember 1. Japan PM resigns after party’s loss in July polls Japan’s Prime Minister Shigeru Ishiba announced on Sunday that he will resign, following growing calls from within his party to take responsibility for a historic defeat in parliamentary election in July. 2. Anuparna Roy wins best director award at Venice festival Filmmaker Anuparna Roy,
