Daily Current Affairs Quiz5 July, 2025 National Affairs 1. India’s First Equine Disease-Free Compartment (EDFC) Recognised by WOAH Context: India has achieved a major milestone in its animal health and trade facilitation efforts with the World Organisation for Animal Health (WOAH) formally recognising the country’s first Equine Disease-Free Compartment (EDFC). This facility will now allow Indian sport horses to participate in international competitions and trade under globally accepted health and biosecurity norms. What is an Equine Disease-Free Compartment (EDFC)? An EDFC is a scientifically managed and biosecure zone where horses are kept free from specific equine diseases, meeting international standards set by the WOAH Terrestrial Animal Health Code. Key Features of the EDFC Aspect Details Disease-Free Certification Free from Equine Influenza, Glanders, Surra, Equine Piroplasmosis, and Equine Infectious Anemia African Horse Sickness India remains free since 2014 Biosecurity Measures Standard Operating Procedures for pest control, hygiene, waste disposal, and animal health monitoring 24×7 Surveillance Continuous veterinary checks and real-time monitoring of equine health Compartmentalisation Segregates a defined sub-population of horses to maintain disease-free status Significance and Impact Why This Matters Banking/Finance 1. SEBI Bans Jane Street Group for Stock Manipulation Context: On July 4, 2025, the Securities and Exchange Board of India (SEBI) took stern enforcement action against U.S.-based hedge fund giant Jane Street Group and its affiliated entities for allegedly manipulating the Bank Nifty index and unlawfully earning ₹4,843.6 crore through a deceptive trading scheme. Key Allegations by SEBI: SEBI’s Interim Order: Regulatory Action Taken: About Jane Street: BS 2. India Ratings Maintains Negative Outlook on IndusInd Bank Despite AA+ Rating Affirmation Context: India Ratings and Research (Ind-Ra) has affirmed an AA+ rating on IndusInd Bank’s debt instruments while removing them from Rating Watch with Negative Implications. However, the outlook remains “Negative”, reflecting persistent concerns over the bank’s internal controls and financial reporting irregularities. Key Reasons Behind Negative Outlook BS 3. RBI Moves to Standardize Credit Bureau Data and Improve Transparency for Borrowers Context: The Reserve Bank of India (RBI) has initiated a major review of credit bureau processes to address data inconsistencies, enhance information symmetry, and improve customer grievance redressal. This move follows rising concerns among lenders and borrowers about discrepancies in credit scores and inconsistent data updates by Credit Information Companies (CICs). Key Highlights: Implications for Stakeholders TET 4. MobiKwik Enters Stock Broking Arena with SEBI Nod What’s the news? Mobikwik’s wholly-owned subsidiary, MobiKwik Securities Broking Pvt Ltd (MSBPL), received SEBI registration on July 1, 2025, enabling it to operate as a stockbroker and clearing member—authorized for equity trades, clearing, and settlement. Why it matters? Background This is Mobikwik’s second major regulatory approval this quarter—earlier, its Zaakpay arm received RBI authorization as a payment aggregator in April. What’s Next for Mobikwik? BS Agriculture 1. Status of Youth in Agrifood Systems: FAO Report Context: The Food and Agriculture Organization (FAO) has released its landmark report titled “Status of Youth in Agrifood Systems”, calling for urgent global action to integrate youth into agriculture and food systems. The report shows that global GDP could rise by 1.4% if NEET (Not in Employment, Education, or Training) youth, especially those aged 20–24, are productively engaged — nearly 45% of this potential lies in agrifood systems. Key Findings FAO’s 3-Pillar Strategy to Empower Youth Inquire More Include More Invest More 2. Crop Cutting Experiments (CCEs) Context: Starting July 2025, the National Statistics Office (NSO) has increased the number of Crop Cutting Experiments (CCEs) conducted across India to improve the accuracy of crop yield estimates. The move is expected to bolster agricultural policy formulation, including export curbs, inflation control, and price management strategies. Key Highlights: Objective of the Initiative What are Crop Cutting Experiments (CCEs)? A Crop Cutting Experiment is a scientific sampling method used to estimate crop yield by harvesting and weighing a small, randomly selected portion of a crop field. This method ensures statistically reliable estimates of agricultural productivity. Key Objectives of CCE How CCE is Conducted Why the Expansion of CCEs? BS 3. Facts To Remember 1. Nipah virus resurfaces in Kerala, two cases reported Nipah virus has returned to Kerala, sparking fresh fear in the State. An 18-year-old girl who succumbed to acute encephalitis syndrome (AES) in Kozhikode two days ago and a 38-year-old woman from Thachanattukara in Palakkad district currently undergoing treatment at a private hospital at Perinthalmanna in Malappuram district have tested positive for the virus. 2. Russia becomes first nation to recognise Taliban regime Russia on Thursday became the first country to formally recognise the Taliban’s government in Afghanistan since it seized power in 2021, after Moscow removed the group from its list of outlawed organisations. 3. Consistent Gukesh seals top spot in rapid section D. Gukesh took the honours in the rapid section in the 2025 SuperUnited Rapid & Blitz Croatia in the nation’s capital on Friday, with Poland’s Jan-Krzysztof Duda finishing second. 4. Banking Frauds in India Surge to Record 23,953 Cases in FY25, But Fraud Amount Falls Sharply: RBI According to the RBI Annual Report 2024-25, the number of banking frauds more than tripled to 23,953 cases in FY25, compared to just 7,359 in FY21. However, the total fraud amount declined by 74% to ₹36,014 crore, indicating a growing trend of low-value, high-frequency frauds—especially in digital banking and card transactions.