Daily Current Affairs Quiz19 July, 2025 National Affairs 1. INS Nistar Commissioned Context: In a significant boost to India’s maritime operational capabilities and self-reliance in defense manufacturing, the Indian Navy commissioned INS Nistar, the country’s first indigenously designed and constructed Diving Support Vessel (DSV), on July 19, 2025, in Visakhapatnam. Key Highlights: Technological and Operational Capabilities TH Banking/Finance 1. Sebi Proposes Changes in Categorization and Rationalization of Mutual Fund Schemes Context: The Securities and Exchange Board of India (SEBI) is set to revamp mutual fund regulations by introducing a separate framework for passive schemes and expanding the scope of active fund categories. These changes aim to ensure greater clarity, investor choice, and consistency in the mutual fund space amid rising scheme proliferation. Key Proposals and Changes TET 2. India Launches Electricity Futures Context: In a significant step toward reforming India’s power markets, electricity futures trading has officially commenced on the National Stock Exchange (NSE) and Multi Commodity Exchange (MCX). At the launch event in Mumbai, SEBI Chairman Tuhin Kanta Pandey stressed that these contracts are designed as risk management tools, not instruments for speculative gains. Key Highlights: Purpose and Structure of Electricity Futures Regulatory Safeguards Against Speculation Key Participants and Benefits Role in Power Market Reform 3. India’s Retail Asset Securitisation Market Grows Context: India’s retail asset securitisation market recorded a moderate 6% year-on-year growth in the first quarter of FY26, reaching volumes of ₹52,000 crore. A major highlight was the country’s first Residential Mortgage-Backed Securitisation (RMBS) transaction, marking a new chapter in long-term funding innovation. What Is Securitisation? Steps in Securitization Process Read more>> 4. Employees’ Deposit Linked Insurance (EDLI) Scheme Context: On July 19, 2025, the Ministry of Labour and Employment notified key relaxations to the Employees’ Deposit Linked Insurance (EDLI) scheme, administered under the Employees’ Provident Fund Organisation (EPFO). The aim is to enhance social security benefits for employees and their families, especially in cases of death during service. Key Changes in EDLI Scheme About the EDLI Scheme TET 5. SBI Named World’s Best Consumer Bank 2025 by Global Finance Magazine Context: The State Bank of India (SBI), India’s largest lender, has been honoured with the prestigious title of World’s Best Consumer Bank for 2025 by Global Finance magazine, highlighting its continued focus on digital transformation and customer-centric services. Key Highlights: Global Recognition Focus on Inclusive Digital Banking Use of Advanced Technology Global Platform for Felicitation BL 6. Net-Zero Banking Alliance (NZBA): Global Climate Commitment by Banks Context: HSBC, one of the world’s largest banking institutions, has become the first major UK bank to exit the UN-backed Net-Zero Banking Alliance (NZBA). This move signals growing tensions between environmental, social, and governance (ESG) commitments and political headwinds, particularly from the United States. Key Highlights: HSBC’s Exit from NZBA Net-Zero Banking Alliance (NZBA) The Net-Zero Banking Alliance (NZBA) is gaining prominence as financial institutions align with global climate goals. What is NZBA? Key Features: Relevance: Agriculture 1. Agriculture Reform Needs More than an Umbrella Scheme: PMDDKY Context: The Union Cabinet recently approved the PM Dhan-Dhaanya Krishi Yojana (PMDDKY), aiming to unify 36 existing schemes across 11 Central Departments to boost agricultural productivity and rural self-reliance. The scheme is set to launch in October 2025 during the rabi season, with an annual outlay of ₹24,000 crore for six years. Key Features of PMDDKY Challenges and Considerations Way Forward TH Facts To Remember 1. Sujeet claims 65kg gold in Budapest ranking series event Asian under-23 champion Sujeet Kalkal toppled some established names on his way to the 65kg freestyle gold medal at the Ranking Series wrestling event in Budapest. 2. 7 day VRRR auction sees strong demand The Reserve Bank of India (RBI) received bids worth ₹ 2.07 trillion against a notified amount of ₹ 2 trillion in theseven-day Variable Rate Reverse Repo (VRRR) auction, which coincided with the maturity of the previous ₹ 2.07 trillion VRRR auction.