Daily Current Affairs Quiz11 July, 2025 National Affairs 1. TALASH Initiative Context: The Ministry of Tribal Affairs, in collaboration with UNICEF India, has launched TALASH (Tribal Aptitude, Life Skills, and Self-Esteem Hub) — a first-of-its-kind national platform designed exclusively for tribal students enrolled in Eklavya Model Residential Schools (EMRSs). Key Highlights of TALASH Initiative What is TALASH? Launched By: Objectives of TALASH Core Features of TALASH Significance of TALASH 2. Aadi KARMAYOGI Mission Launched Context: In a historic stride towards Viksit Bharat @2047, the Ministry of Tribal Affairs has launched the first Regional Process Lab (RPL) of the Aadi KARMAYOGI – National Mission for Responsive Governance in Bengaluru, Karnataka. This flagship initiative aims to build a cadre of 20 lakh tribal grassroots functionaries, empowering them as agents of inclusive, last-mile governance in tribal areas across India. What is Aadi KARMAYOGI? Aadi KARMAYOGI stands for “Tribal Responsive Governance”, a bottom-up reform mission aligned with national goals such as PM-JANMAN, DAJGUA, and Mission Karmayogi. The programme is a whole-of-nation initiative rooted in tribal wisdom, empathy, and convergence. Key Objectives: PIB Banking/Finance 1. Finance Ministry Seeks Control Over National Health Claims Exchange (NHCX) Context: To enhance transparency, curb inflated medical bills, and streamline insurance claims, the Department of Financial Services (DFS) under the Finance Ministry has initiated a move to gain control over the National Health Claims Exchange (NHCX)—currently managed by the Health Ministry. Key Highlights: What is NHCX? Why the Finance Ministry Wants Control: Policy & Regulatory Implications: BS 2. Growing Retail Digital Payments: The Value of Interoperability: IMF Context: According to the International Monetary Fund (IMF), India now processes faster digital payments than any other country, largely driven by the widespread adoption of the Unified Payments Interface (UPI). Key Highlights: IMF Report Findings: UPI’s Growth Trajectory: Decline in Cash Usage: What Makes UPI Stand Out? Global Significance: BS 3. Financial Markets Need More Clarity on RBI’s Liquidity Management Context: India’s banking system has witnessed a sharp turnaround in liquidity—from a deficit of ₹2 trillion at end-2024 to a surplus exceeding ₹3–4 trillion daily in mid-2025. This shift poses both opportunities and risks, prompting a call for greater transparency and active liquidity management by the RBI. Key Developments From Deficit to Surplus Implications of Excess Liquidity Positive Effects Potential Risks Easier credit transmission Inflationary pressures, particularly in asset prices Lower borrowing costs Depressed savings rates, prompting shift to riskier assets Boost to investment and consumption Misallocation of credit to unqualified borrowers Temporary support to government borrowing Erosion of bank margins due to cheaper corporate bond financing Emerging Trends Monetary Policy Challenges Recommendations for the RBI BS 4. SBI Mutual Fund Enters Specialised Investment Fund (SIF) Space Under Magnum Brand Context: SBI Mutual Fund (SBI MF), India’s largest asset manager, has officially entered the Specialised Investment Fund (SIF) space under its well-recognised Magnum brand. This marks a significant diversification of its offerings to cater to more sophisticated and market-aware investors. Key Highlights What Are SIFs? Specialised Investment Funds (SIFs) are a new category of investment vehicles under the mutual fund regulatory framework that: Permitted SIF Categories (as per SEBI norms): Strategic Significance BS 5. Sanjiv Bhasin Moves SAT Against SEBI Ban in Market Manipulation Case Context: Sanjiv Bhasin, former Director at IIFL Securities and a well-known market commentator, has filed an appeal with the Securities Appellate Tribunal (SAT) challenging a SEBI order dated 17 June 2025, which barred him from securities trading for alleged market manipulation and front-running. SEBI Allegations What is Front-Running? Front-running refers to trading a stock based on prior knowledge of a large upcoming order likely to influence its price — an illegal practice under securities laws. Securities Appellate Tribunal (SAT) The Securities Appellate Tribunal (SAT) is a statutory body in India established to hear appeals against orders passed by the Securities and Exchange Board of India (SEBI), the Pension Fund Regulatory and Development Authority (PFRDA), and the Insurance Regulatory and Development Authority of India (IRDAI). It acts as a specialized quasi-judicial body to ensure fairness and transparency in the securities market.  Mint Agriculture 1. Seven New Products Added to e-NAM Platform Context: Union Agriculture Minister Shivraj Singh Chouhan has announced the inclusion of seven new agricultural commodities on the e-NAM (National Agriculture Market) platform. This move is aimed at enhancing price realization, improving market access, and strengthening farmer welfare. New Commodities Added to e-NAM The following seven region-specific commodities have been added: With these additions, the total number of products listed on the e-NAM portal has risen to 238. About e-NAM Platform TET 2. Google Launches AI Tools to Boost Indian Agriculture and Linguistic Inclusion Context: On July 11, 2025, Google announced a series of open-source AI innovations and research partnerships designed to address India’s key challenges in agriculture and multilingual AI inclusivity. The announcement was made at a roundtable hosted at Google’s Bengaluru office, Ananta. Key Highlights: AMED API for Agriculture Monitoring: Collaboration with IIT-Kharagpur on Cultural Inclusion: Foundational and Applied AI Research: Significance: TET Facts To Remember 1. Centre identifies domestic firm for S-400 air defence system maintenance, repair, overhaul The Ministry of Defence has identified an Indian firm to establish a maintenance repair and overhaul (MRO) facility for the S-400 air defence system in the country. 2. Maharashtra Assembly passes public security Bill; law won’t be misused: CM The Maharashtra Assembly on Thursday passed the Maharashtra Special Public Security Bill, 2024, aimed at preventing “unlawful activities of Left Wing Extremist organisations or similar groups”. The Bill will now be tabled in the Legislative Council. 3. India to host shooting World Cup and junior World Championship India has been given a World Cup to host in 2027 and the World Junior Championship in 2028, by the International Shooting Sport Federation (ISSF), as announced by the National Rifle Association of India (NRAI) 4. EY launches initiative for GenAI upskilling EY has launched AI Academy, an initiative to support enterprises in upskilling their talent in the fields of artificial intelligence (AI) and generative AI (GenAI). 5. Ireda gets tax

Daily Current Affairs Quiz10 July, 2025 National Affairs 1. Starlink Receives IN-SPACe Approval to Operate in India Context: On July 9, 2025, IN-SPACe (Indian National Space Promotion and Authorisation Centre), under the Department of Space, granted authorisation to Starlink to operate its satellite broadband services in India. This marks a significant regulatory step for Elon Musk’s SpaceX-owned Starlink, which has long awaited full clearance to launch operations in the country. IN-SPACe (Indian National Space Promotion and Authorisation Centre) Importance of IN-SPACe Authorisation What Is Starlink? TH 2. National Population Register (NPR) Context: The Government of India has initiated preparatory discussions for Census 2027, but no final decision has been taken yet on updating the National Population Register (NPR) during this exercise, according to senior Home Ministry officials. What is NPR? The National Population Register (NPR) is a comprehensive database of “usual residents” of India. A usual resident is defined as someone who has stayed in a local area for at least 6 months or intends to stay for the next 6 months. It includes both Indian citizens and foreign nationals. Background and Legal Framework Features and Process 3. Petroleum & Natural Gas Rules, 2025 Context: The Ministry of Petroleum & Natural Gas has released a draft policy framework to modernise India’s upstream oil and gas sector. The draft rules aim to replace outdated regulations and align with evolving energy, environmental, and investment needs. Key Features: Implications Banking/Finance 1. SEBI Proposes Expanded Role for Credit Rating Agencies Context: The Securities and Exchange Board of India (SEBI) has released a consultation paper proposing to expand the permitted activities of Credit Rating Agencies (CRAs) beyond securities listed or proposed to be listed on stock exchanges. The draft is open for public comments until 30 July 2025. Credit Rating Agencies (CRAs) Credit Rating Agencies (CRAs) are organizations that assess the creditworthiness of borrowers, like companies or governments, and assign ratings to their debt instruments. These ratings reflect the agency’s opinion on the likelihood that the borrower will repay its debts, including principal and interest, on time. Investors use these ratings to gauge the risk associated with investing in those debt instruments.  Current Regulatory Gap Key Proposals in the Consultation Paper Current Norms: SEBI’s Key Proposal: Conditions: TH & Mint 2. Catastrophe Bonds (Cat Bonds) Context: India faces increasing exposure to climate-induced disasters such as floods, cyclones, forest fires, and earthquakes. Despite this, disaster risk insurance penetration is low, leaving much of India’s population and property uninsured and financially vulnerable. In this context, catastrophe bonds (cat bonds) offer an innovative risk-transfer mechanism that India could adopt. What are Catastrophe Bonds (Cat Bonds)? Cat Bonds are specialized financial instruments that combine insurance and debt features, used to transfer disaster-related risks (like earthquakes, cyclones) from governments or insurers to capital market investors. Key Features How Cat Bonds Work Element Description Sponsor Sovereign nations or insurers who issue cat bonds to transfer risk. Premium Paid by the sponsor; the principal equals the insured amount. Intermediary Institutions like the World Bank, ADB, or reinsurance firms to issue and manage risk. Investors Pension funds, hedge funds, and family offices who take on risk in return for higher coupon rates. Coupon Rates Higher than standard bonds due to risk; varies by hazard (e.g., 1–2% for earthquakes, higher for hurricanes). Loss of Principal Investors may lose part of the principal if a catastrophe occurs. Benefits of Cat Bonds Why India Needs Cat Bonds TH 3. RBI’s Whitelist and Key Safety Guidelines Context: The Reserve Bank of India (RBI) has published a list of authorised digital lending apps (DLAs) on its website to help borrowers distinguish between regulated and fraudulent apps. This move is part of its ongoing effort to safeguard digital lending in India and ensure consumer protection. Why This Matters Risks of Using Unauthorised Loan Apps BS 4. RBI Issues Draft Guidelines on Novation of OTC Derivative Contracts Context: On July 10, 2025, the Reserve Bank of India (RBI) released draft guidelines proposing a structured mechanism for novation of over-the-counter (OTC) derivative contracts. This move aims to enhance transparency, fairness, and legal certainty in OTC derivatives markets. What is Novation? Novation is a legal process that replaces an existing contract with a new one by substituting one counterparty while maintaining identical contractual terms (except the party change). Key Features of the RBI Draft Guidelines TET 5. Non-Performing Assets (NPAs) in India Context: India’s large stockpile of Non-Performing Assets (NPAs) is often seen as a reflection of inefficiency in the banking sector. However, it also presents a significant investment opportunity due to the steep discounts offered in bank-led property auctions—often 20–30% below market value. Despite this, real estate investors have largely stayed away from this sector due to multiple structural and regulatory challenges. What are NPAs? NPAs are loans or advances where the borrower has stopped making interest or principal repayments for a specified period, typically 90 days. When a loan turns into an NPA, it is classified into different categories based on its aging and recoverability. Banks are required to maintain provisions for such assets, which can affect their overall profitability and lending capacity. Classification of NPAs Banks classify NPAs into different categories based on the time elapsed since the due date: SARFAESI & IBC Challenges remain Technology-Driven Solutions BS 6. CAMS Launches CAMSPay Gateway for Secure Digital Transactions Context: Computer Age Management Services (CAMS), a key fintech infrastructure provider in India, has launched a new CAMSPay Payment Gateway tailored to meet the evolving regulatory and technological needs of the digital payments landscape. Key Highlights: Economy 1. India’s Gini Index of 25.5 Context: A recent World Bank Poverty and Equity Brief pegged India’s Gini index at 25.5 for 2022–23, making it appear among the most equal countries globally. However, the figure—based on consumption inequality, not income or wealth—has raised eyebrows among economists and policymakers alike. Understanding the Gini Coefficient Data Highlights Why the Debate Matters Wage Inequality Regional & Spatial Inequality Wealth and Intergenerational Inequality BS Agriculture 1. Indian Astronaut Shubhanshu Shukla