Daily Current Affairs Quiz27 & 28 July, 2025 National Affairs 1. ISRO-NASA NISAR Mission Context: India’s ISRO and the U.S. space agency NASA are set to jointly launch NISAR (NASA-ISRO Synthetic Aperture Radar) from Sriharikota on July 30, 2025, using the GSLV Mk-II. It will be the world’s most advanced radar-based earth observation satellite, designed for high-resolution tracking of changes on Earth’s surface. What is NISAR? Objectives of the Mission Technical Highlights Region-Specific Use How NISAR Works TH 2. Sohrai Art of Jharkhand Context: At Kala Utsav 2025, held at Rashtrapati Bhavan, the tribal Sohrai Art from Jharkhand was prominently showcased. President Droupadi Murmu lauded it as reflecting “the soul of India,” celebrating its deep-rooted cultural, spiritual, and ecological essence. What is Sohrai Art? Origin and Communities Cultural Purpose Geographical Reach Key Features of Sohrai Art Aspect Details Themes & Motifs Nature-inspired: animals, birds, trees, rural life scenes. Pigments Natural earth-based colors – red ochre, white kaolin, black manganese. Tools Used Bamboo twigs, chewed sticks, cloth – no synthetic brushes. Artists Exclusively women artists, ensuring generational knowledge transfer. Ritual Context Painted during Diwali, celebrating livestock and agrarian prosperity. Cultural Significance PIB 3. Exercise Bold Kurukshetra 2025 Context: The 14th edition of Exercise Bold Kurukshetra, a bilateral military exercise between India and Singapore, commenced in Jodhpur in 2025. The focus areas include mechanised warfare training and UN peacekeeping simulations, furthering strategic interoperability between the two nations. About Exercise Bold Kurukshetra Aspect Details Nature of Exercise Bilateral military drill under the India-Singapore Defence Cooperation Agreement (DCA) Edition 14th (2025) Location Jodhpur, Rajasthan, India Participating Forces 🇮🇳 Indian Army – Mechanised Infantry Regiment🇸🇬 Singapore Armed Forces – 42nd Armoured Regiment, 4th Armoured Brigade TET 4. Great Indian Bustard (GIB) Context: The Supreme Court-appointed expert committee on Great Indian Bustard (GIB) protection has recommended designated “power corridors” for overhead transmission lines in Gujarat and Rajasthan, balancing renewable energy expansion with critical conservation needs. The Great Indian Bustard (GIB) The Great Indian Bustard (GIB) is one of the heaviest flying birds native to the Indian subcontinent. Once commonly found across India’s grasslands, it is now critically endangered, with fewer than 150 individuals remaining as of 2018. The primary threats are habitat loss, hunting, and powerline collisions. Conservation Status Feature Details Scientific Name Ardeotis nigriceps IUCN Red List Status Critically Endangered Protection in India Schedule I of Wild Life (Protection) Act, 1972 CITES Status Appendix I Global Population Estimated <150 individuals (as of 2018) Habitat and Distribution Threats to Survival Banking/Finance 1. Financial Inclusion Index (FI Index) Context: The Reserve Bank of India (RBI) recently released the Financial Inclusion Index (FI Index) for the year ended March 2025, reporting a score of 67.0, marking steady progress since the index’s inception in 2021. While the improvement signals broader access to formal financial services, it lacks transparency on regional disparities and sub-index performance, raising concerns about its effectiveness as a policymaking tool. Key Components of the FI Index The FI Index is a composite measure that captures the extent of financial inclusion across India using three key parameters: According to RBI, the improvement this year has largely been driven by better usage and quality, rather than new access. Concerns with the Current FI Index Framework 1. Lack of Disaggregated Data: 2. Spatial Heterogeneity Masked: 3. Incomplete Financial Inclusion: 4. Gaps in Insurance and Pension Inclusion: Recommendations for Improvement 1. Publish Sub-Index Scores: 2. Release State-wise and District-level FI Index: 3. Expand Scope Beyond Bank Accounts: 4. Improve Digital Infrastructure: BS 2. Reforming India’s KYC Framework Context: Know Your Customer (KYC) norms are the bedrock of anti-money laundering and financial integrity systems. But in India, the friction between compliance and user convenience has turned KYC into a burden for ordinary customers, especially in rural areas. Harsh Roongta argues that fixing KYC does not require new laws, only better enforcement and coordination. Key Highlights: The Power of the Money Trail KYC Ecosystem in India Progress via Aadhaar & Jan Dhan Challenges in Re-KYC Systemic Weaknesses Recommendations BS 3. Payment Banks Seek Relaxation in RBI Norms Context: India’s payment banks have renewed their push for regulatory easing, requesting the Reserve Bank of India (RBI) to reduce the Statutory Liquidity Ratio (SLR) requirement, allow small-ticket lending, and increase the deposit cap per customer. These demands aim to enhance profitability, expand their financial services offerings, and address the viability challenges inherent in their business model. Key Demands from Payment Banks 1. Reduction in SLR from 75% to 65% or Lower 2. Permission to Offer Small Loans 3. Enhancement of Customer Deposit Cap Operational Context TET 4. Government Identifies Priority Sectors to Boost FDI Context: With net FDI inflows slowing down amid global economic uncertainty and international investors exiting through IPOs or repatriating capital, the Indian government—along with Invest India—has drawn up a sector-specific strategy to attract fresh foreign direct investment. This initiative aims to maintain India’s momentum as a global investment destination by facilitating new investments in sectors aligned with evolving global supply chains and domestic industrial priorities. Key Sectors Identified for FDI Promotion The government has shortlisted the following six sectors for targeted investor outreach: Policy Measures and Facilitation Strategy TOI 5. RBI Grants In-Principle Authorisation to Xflow as Cross-Border Online Payment Aggregator Context: Xflow, a Bengaluru-based cross-border payments fintech, has received in-principle approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator for cross-border (PA-CB) transactions. The approval covers both import and export flows, marking a major milestone in India’s evolving fintech and digital payments ecosystem. What is a Payment Aggregator? A Payment Aggregator (PA) is an entity that facilitates online payments by acting as an intermediary between customers and merchants. They enable businesses to accept various payment instruments from customers without the need for a separate payment integration system. RBI In-Principle Approval (IPA) Tech Integration Regulatory Landscape (PA-CB): BS 6. IRDAI to Mandate Internal Insurance Ombudsman in All Insurers to Strengthen Grievance Redressal Mechanism Context: The Insurance Regulatory and Development Authority of India (IRDAI) is set