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
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
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
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
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
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
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
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
Standing Committee Flags Delay in SVAMITVA Scheme Implementation
Context: The Standing Committee on Rural Development and Panchayati Raj has raised concerns over the slow progress of the SVAMITVA scheme, a flagship initiative aimed at providing legal ownership of residential properties in rural India using drone-based mapping and property cards. Key Highlights: Survey Backlog Objective of SVAMITVA Scheme Committee’s Recommendations Mint
Daily Current Affairs (DCA) 26 July, 2025
Daily Current Affairs Quiz26 July, 2025 National Affairs 1. Standing Committee Flags Delay in SVAMITVA Scheme Implementation Context: The Standing Committee on Rural Development and Panchayati Raj has raised concerns over the slow progress of the SVAMITVA scheme, a flagship initiative aimed at providing legal ownership of residential properties in rural India using drone-based mapping and property cards. Key Highlights: Survey Backlog Objective of SVAMITVA Scheme Committee’s Recommendations Mint 2. India-Maldives Relations Context: During Prime Minister Narendra Modi’s official visit to the Maldives in July 2025, 8 pivotal bilateral agreements were signed, underscoring India’s commitment to its Neighbourhood First and SAGAR (Security and Growth for All in the Region) policies. The visit aimed to reset relations following past tensions and reaffirm India’s role as a trusted development and security partner. Key Bilateral Agreements Signed TOI 3. Draft National Telecom Policy (NTP) 2025 Context: The Ministry of Communications, Government of India, has released the Draft National Telecom Policy 2025 to guide the sector’s growth from 2025 to 2030. It emphasizes self-reliance (Atmanirbhar Bharat), next-generation technology adoption, and universal digital access. Key Features of Draft NTP 2025 1. Domestic Manufacturing & Self-Reliance 2. R&D and IP Generation 3. Infrastructure and Connectivity Targets 4. Employment and Skill Development 5. Exports and Investments 6. Secure and Trusted Networks 7. Green Telecom Vision TOI 4. PM Viksit Bharat Rozgar Yojana (PM-VBRY) Context: The PM Viksit Bharat Rozgar Yojana (PM-VBRY) is a new national scheme aimed at boosting formal sector employment, replacing the earlier Employment Linked Incentive (ELI) Scheme. It will be implemented from 1st August 2025. Key Details Objectives Key Features Part A: Incentive for First-Time Employees Part B: Incentive for Employers Payment Mechanism Banking/Finance 1. SEBI Proposes Eased Disclosure Norms for Listed Non-Convertible Securities Context: On July 25, 2025, the Securities and Exchange Board of India (SEBI) released a consultation paper proposing amendments to disclosure obligations for issuers of listed non-convertible securities, including debentures and hybrid instruments. Key Highlights of SEBI’s Proposal 1. Paperless Disclosure Mandate 2. Alignment with Companies Act Timelines 3. Public Consultation Timeline Significance Mint 2. UPI Needs a Sustainable Financial Model, Says RBI Governor Malhotra Context: With daily UPI transactions crossing 60 crore, RBI Governor Sanjay Malhotra has emphasized the urgent need for a sustainable financial model to support and maintain India’s fast-growing digital payments infrastructure. Key Highlights: Explosive Growth of UPI Need to Reassess Cost Structure Industry Demand for MDR Reintroduction Government’s Position Public Sentiment Strongly Against Charges TOI 3. Bima Sakhi Yojana Context: Union Minister for Rural Development and Agriculture & Farmers’ Welfare, Shri Shivraj Singh Chouhan, formally launched the ‘Bima Sakhi Yojana’, a flagship scheme focused on financial empowerment and social inclusion of rural women through insurance facilitation. This scheme is aligned with the ‘Insurance for All by 2047’ mission and supports broader government initiatives such as Aatmanirbhar Bharat, Digital India, and Jan Suraksha. Key Highlights: Purpose and Vision: Partnership with LIC: Role of Bima Sakhis: Scale and Impact Goals: Employment and Social Change: Alignment with Government Missions: PIB 4. Federal Bank Launches Biometric Authentication for Online Card Transactions Context: Federal Bank, in collaboration with fintech partners M2P and MinkasuPay, has launched India’s first biometric authentication solution for e-commerce card payments. This initiative marks a significant step toward enhancing security, speed, and user experience in digital payments. What is the Solution? Partnerships Involved Key Features of the Biometric Solution Key Benefits for Customers How It Works BL 5. BAANKNET Boosts PSB Property E-Auction Success Context: Public sector banks (PSBs) have witnessed a major leap in recovery of stressed assets through their revamped property e-auction platform, BAANKNET, which became operational on July 1, 2024 and was formally launched in January 2025. BAANKNET BAANKNET is an online platform specifically designed for banks and lending institutions in India to auction properties acquired due to Non-Performing Asset (NPA) loans. It serves as a one-stop destination for buyers and investors to discover and participate in e-auctions of various assets like residential, commercial, agricultural, and industrial properties. Features & Impact of BAANKNET Transition from e-Bikray BS Facts To Remember 1. Modi overtakes Indira, clocks second-longest continuous stint as PM Prime Minister Narendra Modi became the second longest-serving Prime Minister of India in consecutive terms, surpassing former Prime Minister Indira Gandhi’s record. 2. Anuradha Thakur named director, RBI Central Board The Union government has nominated Anuradha Thakur, Secretary, Department of Economic Affairs, Ministry of Finance, Government of India as a Director on the Central Board of Reserve Bank of India in the place of Ajay Seth who has been appointed as the new Chairman of the Insurance Regulatory and Development Authority of India (IRDAI). 3. Vaishnavi wins bronze medal in World University Games Vaishnavi Adkar went down fighting 6-2, 4-6, 4-6 in a three-hour duel in the women’s tennis semifinals to Eszter Meri of Slovakia in the World University Games in Rhine-Ruhr, Germany.
