Daily Current Affairs Quiz29 July, 2025 National Affairs 1. PM Pays Tribute to Rajendra Chola I Context: During the birth anniversary celebrations of Rajendra Chola I at Gangaikonda Cholapuram, the Prime Minister of India hailed the Chola dynasty’s enduring contributions to India’s maritime strength, democratic institutions, and cultural unity. Statues of Rajendra Chola and Rajaraja Chola were announced, alongside the release of a commemorative coin. The Legacy of the Chola Empire Historical Span and Geographic Reach: Iconic Chola Rulers and Their Contributions 1. Rajaraja Chola I (985–1014 CE): 2. Rajendra Chola I (1014–1044 CE): 3. Kulottunga Chola I: Governance & Administration Democratic Institutions: Bureaucracy: Economic Reforms and Maritime Trade Global Trade Links: Agricultural Innovation: Naval Dominance and Diplomacy Maritime Expansion: Foreign Relations: Cultural & Artistic Renaissance Religious Harmony: Temples as Socio-Economic Hubs: Literature and Arts: TH 2. India’s Tiger Conservation Status Context: India, which had just 1,411 tigers in 2006, recorded 3,682 wild tigers in 2022 — a 161% increase — making it home to nearly 75% of the global wild tiger population. This remarkable turnaround is a result of 50+ years of sustained conservation efforts under Project Tiger, but new threats demand attention. Key Highlights: 1. Project Tiger 2. Population Trends 3. Threats & Challenges 4. Need for Policy Reforms 5. Forward Strategy TOI 3. Special Public Security Bill Context: The Maharashtra Legislature recently passed the Maharashtra Special Public Security Bill, 2024, aimed at curbing the activities of Left-Wing Extremist (LWE) organisations and their alleged urban fronts. The Bill has sparked controversy over its potential for misuse, ambiguity, and its implications for civil liberties. Key Highlights: Major Objections to the Bill TH 4. National Mission on Cultural Mapping & Mera Gaon Meri Dharohar (MGMD Portal Context: To strengthen India’s cultural identity and empower rural communities, the Ministry of Culture has launched the National Mission on Cultural Mapping (NMCM), implemented by the Indira Gandhi National Centre for the Arts (IGNCA). Key Highlights: 1. About NMCM: 2. MGMD Portal – A Digital Cultural Archive: 3. Scope of Documentation: 4. Significance: PIB 5. State of Food Security and Nutrition in the World (SOFI) 2025 Report Context: The United Nations’ flagship report, State of Food Security and Nutrition in the World (SOFI) 2025, assesses global progress toward Sustainable Development Goal 2 (Zero Hunger). The 2025 edition focuses on post-pandemic recovery, food affordability, and regional disparities, while projecting the hunger landscape up to 2030. Key Findings: India-Specific Insights Positive Developments Key Concerns Way Forward Banking/Finance 1. One District One Product (ODOP) & Districts as Export Hubs (DEH) Context: The Government of India is promoting balanced regional development and local entrepreneurship through the One District One Product (ODOP) initiative, integrated with Districts as Export Hubs (DEH), and supported by schemes targeting MSMEs. ODOP – One District One Product Initiative Districts as Export Hubs (DEH) MSME Export and Marketing Support a. International Cooperation Scheme (Ministry of MSME) b. Digital & E-Commerce Enablement c. Financial Incentives for MSMEs: PIB 2. UPI Set to Introduce Biometric Authentication for Transactions Context: The National Payments Corporation of India (NPCI) is preparing to introduce biometric authentication (facial recognition, fingerprints) for UPI transactions to strengthen digital payment security and user convenience. Key Highlights: What’s Changing? Status and Rollout Rationale Behind the Move BS 3. RBI Proposes New Regime for Co-op Bank Branch Expansion Context: The Reserve Bank of India (RBI) has released a draft Master Direction introducing the Eligibility Criteria for Business Authorisation (ECBA) to regulate the expansion activities of Urban Co-operative Banks (UCBs). This proposed framework will replace the existing Financially Sound and Well Managed (FSWM) criteria. Key Highlights: BS 4. BoI Mutual Fund Launches Midcap Fund Targeting Growth Sectors Context: Bank of India Mutual Fund (BoI MF) has launched a new midcap equity scheme to tap into India’s growing midcap segment across high-potential sectors. Key Highlights: What are Mid Cap Funds? Mid Cap Funds are equity mutual funds that invest primarily in mid-sized companies, classified by SEBI as those ranked 101st to 250th by market capitalization. Key Features Investment Universe SEBI Classification TET 5. LIC Enters Bond Derivatives Market to Hedge Interest Rate Risk Context: Life Insurance Corporation of India (LIC) has signed $1 billion worth of forward rate agreements (FRAs) with major Wall Street banks, marking a major push into bond derivatives. Forward Rate Agreements (FRAs) A Forward Rate Agreement (or FRA) is an agreement between two parties to exchange payments usually equal to short term underlying interest rate obligations of those two parties. The notional principal amount of a FRA is used to calculate the interest payment only and is not exchanged. FRAs allow LIC to lock in future bond yields, protecting income from falling interest rates. Bond Derivatives Bonds are fixed-income securities that reflect loans made to borrowers by investors. Derivatives can be understood as a security with a price that is based on or derived from one or more underlying assets is referred to as a derivative. Market Impact Working Mechanism of FRA Significance BS 6. MSME Ministry Simplifies SPICE Scheme to Promote Circular Economy Context: The Ministry of Micro, Small & Medium Enterprises (MSME) has streamlined the process under the Scheme for Promotion and Investment in Circular Economy (SPICE) to encourage material efficiency and green practices in micro and small enterprises (MSEs). Key Highlights: Scheme for Promotion and Investment in Circular Economy (SPICE) The MSE-SPICE Scheme (Scheme for Promotion and Investment in Circular Economy) is a flagship initiative by the Government of India to foster sustainable industrial practices in the Micro and Small Enterprises (MSE) sector. It is aligned with India’s broader goal of achieving net-zero emissions by 2070. Objectives Scheme Framework TET Agriculture 1. IN-SPACe Launches Course on Space Technology for Agriculture Context: On July 27, 2025, the Indian National Space Promotion and Authorization Centre (IN-SPACe) launched a short-term course titled “Essentials of Space Technology in Agriculture Sector” in collaboration with ISRO, NCVET, and Amity University, Noida. Course Overview Strategic Purpose BL Facts To Remember 1. Teenager Divya outlasts Humpy, emerges India’s first women’s World Cup