Daily Current Affairs Quiz16 July, 2025 National Affairs 1. Yakten Becomes India’s First Digital Nomad Village Under ‘Nomad Sikkim’ Initiative Context: Yakten village in Pakyong district of Sikkim was officially declared India’s first digital nomad village. The recognition marks a milestone in transforming remote rural destinations into sustainable hubs for digital professionals. Key Highlights: TH 2. Second GE-F404 Engine for LCA Mk-1A Fighter Jets Context: India has received the second GE-F404 engine from the United States for its indigenous Light Combat Aircraft (LCA) Tejas Mk-1A programme. The engine was delivered to Hindustan Aeronautics Limited (HAL), the manufacturer of the LCA fleet. About GE-F404 Engine & LCA Mk-1A TH 3. NSO Launches “Statathon – A Data Journey Towards Viksit Bharat” Context: The National Statistical Office (NSO), in collaboration with the Innovation Cell of the Ministry of Education (MoE), launched a Grand Challenge titled “Statathon – A Data Journey Towards Viksit Bharat”. The initiative seeks to harness the power of emerging technologies like Artificial Intelligence (AI) to modernize India’s official statistics infrastructure. Organised under MoSPI’s Data Innovation Lab (DI Lab) initiative, this national-level competition commemorates 75 years of the National Sample Survey (NSS). Objectives and Vision PIB 4. Union Government Launches ADEETIE Scheme to Boost Industrial Energy Efficiency Context: The Union Ministry of Power launched the ADEETIE scheme at a national rollout event in Panipat, Haryana, targeting energy efficiency improvements in India’s industrial sector, particularly MSMEs. The scheme is being implemented by the Bureau of Energy Efficiency (BEE). What is ADEETIE? Budget and Duration Core Objectives Key Features Interest Subvention Scheme Technical Handholding Support Digital Enablement Cluster-Based Implementation Eligibility Criteria PIB 5. India Celebrates 10 Years of Pradhan Mantri Kaushal Vikas Yojana (PMKVY) Context: India marks a decade of the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) — the government’s flagship skill development initiative — having trained over 1.63 crore youth in industry-relevant skills since its inception in 2015 under the Skill India Mission. About PMKVY Core Objectives Key Features of PMKVY Short-Term Training (STT) Recognition of Prior Learning (RPL) PMKVY 4.0 – Digitally Integrated Version Inclusive Participation Focus on Emerging and Traditional Skills Special Initiatives Banking/Finance 1. SEBI Launches Settlement Scheme for Expired VCFs Context: The Securities and Exchange Board of India (SEBI) has introduced a settlement scheme, effective July 21, 2025, to address violations by migrated Venture Capital Funds (VCFs) related to delayed or non-compliant winding-up of expired schemes. The scheme will remain open until January 19, 2026. Key Features of the SEBI Settlement Scheme Purpose: Eligibility: Regulatory Background: Implications for Fund Managers and Investors SEBI’s Broader Strategy TET 2. IRDAI Proposes Higher Investment Limits in REITs, InvITs, and Gold ETFs Context: In a move aimed at channeling more long-term insurance capital into real estate, infrastructure, and gold-backed assets, the Insurance Regulatory and Development Authority of India (IRDAI) has proposed revisions to investment norms for insurers. Key Proposals by IRDAI Doubling Exposure Limits to REITs and InvITsREITS and INVITS Gold ETFs to Be Allowed in ULIPs Regulatory Developments: Kiwi General Insurance Other Key Actions by IRDAI Significance of IRDAI’s Reforms TET 3. FDI Cap Hike in Public Sector Banks on Hold Pending RBI Review Context: The Indian government will defer any decision on increasing the FDI limit in public sector banks (PSBs) until the Reserve Bank of India (RBI) completes its review of voting rights and shareholding norms in the banking sector. Current FDI and Shareholding Norms Why the Delay in Raising the PSB FDI Cap? Significance 4. Ageas Federal Life Insurance Launches India Sector Leaders Fund Context: Ageas Federal Life Insurance has introduced a new unit-linked insurance fund (ULIP) offering called the India Sector Leaders Fund, targeting investors with medium- to long-term investment horizons. Key Highlights: Investment Objective Portfolio Strategy Who Should Invest? BL Agriculture 1. Punjab Agricultural University to Begin GM Maize Field Trials Context: Field trials for genetically modified (GM) maize are set to begin in Punjab Agricultural University (PAU), Ludhiana, during the 2025 kharif season, following approval from the Genetic Engineering Appraisal Committee (GEAC) and the Punjab government. What is Being Tested? Objectives of the Field Trials Key Features of the Trials Environmental Groups’ Concerns TH 2. TAFE and ICRISAT Join Hands to Launch Adaptive Agriculture Research Centre in Hyderabad Context: Tractors and Farm Equipment Ltd. (TAFE) has signed a Memorandum of Understanding (MoU) with the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) to establish a JFarm Adaptive Agriculture Research & Extension Centre at the ICRISAT campus, Patancheru, Hyderabad. Key Objectives of the TAFE–ICRISAT Collaboration Sustainable Agriculture Promotion Scale-Appropriate Mechanisation Infrastructure & Extension Services Significance and Impact About the Partners BL 3. Sai Subhiksha Kisan Health Card Context: In a unique convergence of healthcare and agrarian welfare, the Sai Subhiksha Kisan Health Card was launched recently at Sathya Sai Grama, Muddenahalli in Chikkaballapur district, Karnataka. The initiative aims to provide completely free healthcare services to India’s farmers. Key Highlights: Significance of the Initiative BL Facts To Remember 1. SCO shouldn’t compromise on terrorism: Jaishankar The Pahalgam terrorist attack of April 22 was carried out to hurt the Jammu and Kashmir economy and to “sow a religious divide”, External Affairs Minister S. Jaishankar told the Shanghai Cooperation Organisation’s (SCO) Council of Foreign Ministers (SCO-CFM) meeting in China. 2. Update biometric details of children above 5: UIDAI The Unique Identification Authority of India (UIDAI) on Tuesday urged people to update the biometric details of children aged between five and seven.  3. ‘140k New PMJDY A/Cs Opened in 2 Weeks’ The finance ministry on Tuesday said that in the first two weeks of its financial inclusion saturation campaign, around 1.4 lakh new PM Jan Dhan Yojana accounts have been opened and more than 5.4 lakh new enrolments made under three Jan Suraksha Schemes. 4. India’s Unemployment Rate Holds at 5.6% in June 2025 India’s unemployment rate for individuals aged 15 years and above stood at 5.6% in June 2025, unchanged from May, according to data released by the Ministry of Statistics and Programme Implementation (MoSPI). While the