Daily Current Affairs Quiz8 & 9 August, 2025 National Affairs 1. India Releases Joint Doctrines for Cyberspace and Amphibious Operations Context: The Chief of Defence Staff (CDS) has declassified and released India’s Joint Doctrines for Cyberspace Operations and Amphibious Operations to enhance interoperability, strengthen national defence strategy, and guide integrated multi-domain warfare. These doctrines outline operational principles, strategic objectives, and coordination mechanisms for the armed forces in two critical domains. About Cyberspace Components of Cyberspace Operations About Amphibious Operations Significance of the Doctrines PIB 2. Kartavya Bhavan-03 under Central Vista Redevelopment Context: Prime Minister inaugurated Kartavya Bhavan-03, the first of ten planned Common Central Secretariat (CCS) buildings under the Central Vista redevelopment project in New Delhi. This marks a major step towards modernising government infrastructure, enhancing administrative efficiency, and integrating green and digital governance systems. About Kartavya Bhavan-03 BS 3. Election Commission of India (ECI) Context: The Opposition party has accused the Election Commission of India (ECI) of large-scale voter list manipulation in Karnataka, Maharashtra, and other states, alleging bias and “vote theft” in favour of the ruling party. About the Election Commission of India (ECI) The Election Commission of India (ECI) is an autonomous constitutional authority responsible for conducting and regulating elections to the Lok Sabha, Rajya Sabha, State Legislative Assemblies, and the offices of the President and Vice President in India. It was established on 25 January 1950 (celebrated as National Voters’ Day), with its headquarters in New Delhi. It does not conduct elections to Panchayats and Municipalities, as these fall under the jurisdiction of the State Election Commissions. Constitutional Provisions (Part XV: Articles 324–329) Structure of ECI Appointment & Tenure Removal Limitations UPSC Civil Services Examination Previous Year Questions (PYQs) Prelims Q. Consider the following statements: (2017) Which of the statements given above is/are correct? (a) 1 and 2 only(b) 2 only(c) 2 and 3 only(d) 3 only Ans: (d) Mains Q. Discuss the role of the Election Commission of India in the light of the evolution of the Model Code of Conduct. (2022) 5. Pradhan Mantri Ujjwala Yojana (PMUY) Context: Government approved continuation of ₹300 per LPG cylinder subsidy for PMUY beneficiaries in FY 2025–26. About PMUY Key Features Objectives Eligibility TH Banking/Finance 1. AU Small Finance Bank Gets RBI Nod to Become Universal Bank Context: On 8 August 2025, the Reserve Bank of India (RBI) granted in-principle approval to AU Small Finance Bank (AU SFB) to transition into a universal bank. AU becomes the first SFB to receive such approval and the first universal bank approval in over 11 years. It currently commands about 40% market share among SFBs. Eligibility Criteria for SFB to Transition into a Universal Bank Criterion Requirement Scheduled Status Must have been in the RBI’s Scheduled Banks list for at least 5 years Stock Listing Shares must be listed on a recognised stock exchange Net Worth Minimum net worth of ₹1,000 crore Financial Health – Profitability Net profits in each of the last 2 Financial Years (FYs) Financial Health – Asset Quality G-NPA ≤ 3% and N-NPA ≤ 1% over the last 2 FYs Promoter Requirements No addition or change in promoters during the transition period Portfolio Preference Preference given to SFBs with diversified loan portfolios About Small Finance Banks (SFBs) Parameter Details Genesis Announced in Union Budget 2014–15 Objective Promote financial inclusion by serving small businesses, marginal farmers, micro industries, and unorganised sector entities Registration Public limited company under Companies Act, 2013 Licensing Licensed & governed under Banking Regulation Act, 1949 Capital Requirement Minimum paid-up voting equity capital of ₹200 crore (except in certain cases) Eligible Promoters Resident individuals/professionals with ≥10 years experience in banking & finance Difference Between Small Finance Banks and Universal Banks Parameter Small Finance Banks (SFBs) Universal Banks Primary Objective Financial inclusion by providing credit to unserved/underserved segments like small businesses, farmers, low-income households Provide a wide range of banking services to all segments of the economy Customer Focus Primarily rural and semi-urban customers, small borrowers Both retail and corporate clients Product Range Savings accounts, fixed deposits, small business loans, microfinance All banking products including corporate loans, international banking, investment banking Priority Sector Lending 75% of net loans 40% of net loans Regulatory Capital Minimum capital requirement: ₹200 crore Minimum capital requirement: ₹1,000 crore Branch Expansion At least 25% branches in unbanked rural areas No such mandatory rural branch requirement Scope of Operations Restricted geographical and lending scope Full-scale domestic and international operations BS 2. IDFC FIRST Bank Launches RemitFIRST2India Digital Remittance Platform Context: IDFC FIRST Bank has launched RemitFIRST2India, a next-generation digital remittance platform enabling Non-Resident Indians (NRIs) to send money to India quickly, securely, and at zero transfer fees. Developed in partnership with SingX, the platform aims to provide a transparent, compliant, and customer-friendly cross-border payment experience. About RemitFIRST2India About IDFC FIRST Bank BS 3. IFC Commits $150M to H-DREAM Fund for Green Affordable Housing Context: The International Finance Corporation (IFC), a member of the World Bank Group, has committed USD 150 million to HDFC Capital Affordable Real Estate Fund – 3 (H-CARE 3). The investment aims to boost the supply of green-certified affordable housing in India and advance climate-friendly construction practices. Key Highlights: About IFC About H-CARE ET 4. FSSAI and Bank of Baroda Collaborate to Enhance Digital Payments Context: The Food Safety and Standards Authority of India (FSSAI) has partnered with Bank of Baroda to promote digital payment adoption in the food business sector. The initiative aims to improve financial transparency, reduce cash-based transactions, and encourage small food businesses to transition to secure, traceable payment methods. Key Highlights: ET 5. DSP Mutual Fund Launches India’s First Flexi-Cap Index Fund Context: DSP Mutual Fund has introduced the DSP Nifty500 Flexicap Quality 30 Index Fund, marking it as India’s first-ever flexi-cap index fund. The fund is designed to offer a low-cost, rules-based investment strategy that adapts dynamically to market conditions. Flexi-Cap Index Fund A Flexi-Cap Index Fund is a type of equity mutual fund that invests across large-cap, mid-cap, and small-cap stocks, offering diversification and flexibility. Unlike pure large-cap
AI and Satellite Intelligence Transforming Indian Agriculture
Context: India’s agriculture sector, employing ~150 million farmers and contributing 18% to GDP, faces climate change, soil degradation, and pest attack challenges. Traditional farming methods are increasingly inadequate, pushing the need for technology-driven, proactive solutions. Key Challenges Tech-Based Solutions Artificial Intelligence (AI) + Satellite Intelligence: Example: Impact Beyond Farming Policy & Vision BL
Kotak Mahindra Bank Launches ‘Solitaire’ Programme
Context: Kotak Mahindra Bank has introduced ‘Solitaire’, an exclusive, invitation-only programme designed for affluent customers, offering premium banking privileges and personalised services. Eligibility Key Benefits About Kotak Mahindra Bank:
DSP Mutual Fund Launches India’s First Flexi-Cap Index Fund
Context: DSP Mutual Fund has introduced the DSP Nifty500 Flexicap Quality 30 Index Fund, marking it as India’s first-ever flexi-cap index fund. The fund is designed to offer a low-cost, rules-based investment strategy that adapts dynamically to market conditions. Flexi-Cap Index Fund A Flexi-Cap Index Fund is a type of equity mutual fund that invests across large-cap, mid-cap, and small-cap stocks, offering diversification and flexibility. Unlike pure large-cap or small-cap funds, its allocation changes dynamically based on market conditions and index composition. Key Features: ET
FSSAI and Bank of Baroda Collaborate to Enhance Digital Payments
Context: The Food Safety and Standards Authority of India (FSSAI) has partnered with Bank of Baroda to promote digital payment adoption in the food business sector. The initiative aims to improve financial transparency, reduce cash-based transactions, and encourage small food businesses to transition to secure, traceable payment methods. Key Highlights: ET
IFC Commits $150M to H-DREAM Fund for Green Affordable Housing
Context: The International Finance Corporation (IFC), a member of the World Bank Group, has committed USD 150 million to HDFC Capital Affordable Real Estate Fund – 3 (H-CARE 3). The investment aims to boost the supply of green-certified affordable housing in India and advance climate-friendly construction practices. Key Highlights: About IFC About H-CARE ET
IDFC FIRST Bank Launches RemitFIRST2India Digital RemittancePlatform
Context: IDFC FIRST Bank has launched RemitFIRST2India, a next-generation digital remittance platform enabling Non-Resident Indians (NRIs) to send money to India quickly, securely, and at zero transfer fees. Developed in partnership with SingX, the platform aims to provide a transparent, compliant, and customer-friendly cross-border payment experience. About RemitFIRST2India About IDFC FIRST Bank BS
AU Small Finance Bank Gets RBI Nod to Become Universal Bank
Context: On 8 August 2025, the Reserve Bank of India (RBI) granted in-principle approval to AU Small Finance Bank (AU SFB) to transition into a universal bank. AU becomes the first SFB to receive such approval and the first universal bank approval in over 11 years. It currently commands about 40% market share among SFBs. Eligibility Criteria for SFB to Transition into a Universal Bank Criterion Requirement Scheduled Status Must have been in the RBI’s Scheduled Banks list for at least 5 years Stock Listing Shares must be listed on a recognised stock exchange Net Worth Minimum net worth of ₹1,000 crore Financial Health – Profitability Net profits in each of the last 2 Financial Years (FYs) Financial Health – Asset Quality G-NPA ≤ 3% and N-NPA ≤ 1% over the last 2 FYs Promoter Requirements No addition or change in promoters during the transition period Portfolio Preference Preference given to SFBs with diversified loan portfolios About Small Finance Banks (SFBs) Parameter Details Genesis Announced in Union Budget 2014–15 Objective Promote financial inclusion by serving small businesses, marginal farmers, micro industries, and unorganised sector entities Registration Public limited company under Companies Act, 2013 Licensing Licensed & governed under Banking Regulation Act, 1949 Capital Requirement Minimum paid-up voting equity capital of ₹200 crore (except in certain cases) Eligible Promoters Resident individuals/professionals with ≥10 years experience in banking & finance Difference Between Small Finance Banks and Universal Banks Parameter Small Finance Banks (SFBs) Universal Banks Primary Objective Financial inclusion by providing credit to unserved/underserved segments like small businesses, farmers, low-income households Provide a wide range of banking services to all segments of the economy Customer Focus Primarily rural and semi-urban customers, small borrowers Both retail and corporate clients Product Range Savings accounts, fixed deposits, small business loans, microfinance All banking products including corporate loans, international banking, investment banking Priority Sector Lending 75% of net loans 40% of net loans Regulatory Capital Minimum capital requirement: ₹200 crore Minimum capital requirement: ₹1,000 crore Branch Expansion At least 25% branches in unbanked rural areas No such mandatory rural branch requirement Scope of Operations Restricted geographical and lending scope Full-scale domestic and international operations BS
Pradhan Mantri Ujjwala Yojana (PMUY)
Context: Government approved continuation of ₹300 per LPG cylinder subsidy for PMUY beneficiaries in FY 2025–26. About PMUY Key Features Objectives Eligibility TH
Election Commission of India (ECI)
Context: The Opposition party has accused the Election Commission of India (ECI) of large-scale voter list manipulation in Karnataka, Maharashtra, and other states, alleging bias and “vote theft” in favour of the ruling party. About the Election Commission of India (ECI) The Election Commission of India (ECI) is an autonomous constitutional authority responsible for conducting and regulating elections to the Lok Sabha, Rajya Sabha, State Legislative Assemblies, and the offices of the President and Vice President in India. It was established on 25 January 1950 (celebrated as National Voters’ Day), with its headquarters in New Delhi. It does not conduct elections to Panchayats and Municipalities, as these fall under the jurisdiction of the State Election Commissions. Constitutional Provisions (Part XV: Articles 324–329) Structure of ECI Appointment & Tenure Removal Limitations UPSC Civil Services Examination Previous Year Questions (PYQs) Prelims Q. Consider the following statements: (2017) Which of the statements given above is/are correct? (a) 1 and 2 only(b) 2 only(c) 2 and 3 only(d) 3 only Ans: (d) Mains Q. Discuss the role of the Election Commission of India in the light of the evolution of the Model Code of Conduct. (2022)
