Daily Current Affairs Quiz4 July, 2025 National Affairs 1. National Sports Policy 2025 Context: The Union Cabinet has approved the National Sports Policy (NSP) 2025, replacing the 2001 policy. It aims to transform India into a global sporting powerhouse and prepare the nation for the 2036 Olympics. What is National Sports Policy 2025? It is a comprehensive national framework designed to: The policy follows a whole-of-government and multi-stakeholder implementation model. Key Features of NSP 2025 (Crisp) 2. IISc Launches BHARAT Study to Build India-Specific Biomarkers for Healthy Ageing Context: The Indian Institute of Science (IISc) Bengaluru has launched the BHARAT Study to create India-specific reference values for healthy ageing biomarkers. This effort aims to reduce misdiagnosis and improve geriatric care by addressing the limitations of Western-centric medical benchmarks. What is Healthy Ageing? Healthy ageing is the process of maintaining physical, mental, and functional well-being in later life. It prioritizes quality of life over mere longevity. Biological age—reflected in organ function or cellular markers—often differs from chronological age. Key Data & Trends on Ageing in India Features of Healthy Ageing Why India Needs a Contextual Approach Challenges to Healthy Ageing Key Initiatives TH 3. NITI Aayog Report on Chemical Industry Context: NITI Aayog has released a strategic roadmap titled “Chemical Industry: Powering India’s Participation in Global Value Chains (GVCs)”. The report envisions India becoming a global chemical powerhouse with 12% GVC share and USD 1 trillion output by 2040. Current Landscape of India’s Chemical Industry Opportunities Identified Challenges Facing the Sector NITI Aayog Key Recommendations Mint Banking/Finance 1. FinMin Urges PSBs to Ramp Up Branch Expansion Amidst Private Bank Competition Context: The Union Finance Ministry has directed public sector banks (PSBs) to accelerate physical branch expansion to compete with the aggressive network growth of private banks and small finance banks (SFBs), despite strong digital adoption. Key Highlights: BS 2. AMFI Seeks ₹250 Chhoti SIP Rollout Plans from Fund Houses After SEBI Nudge Context: To promote small-ticket investing and deepen mutual fund penetration, the Securities and Exchange Board of India (SEBI) has nudged AMFI (Association of Mutual Funds in India) to push for the rollout of ₹250 micro-SIPs under the Chhoti SIP initiative. Key Highlights: Association of Mutual Funds in India (AMFI) Association of Mutual Funds in India (AMFI) is an Indian trade association for all the asset management companies of SEBI registered mutual funds in India. BS 3. New Consumer Price Index (CPI) Series Context: India is preparing to roll out a new Consumer Price Index (CPI) series aimed at enhancing the accuracy and responsiveness of inflation measurement, by widening the coverage of goods/services and updating the base year. Key Highlights: Broader and Granular Representation Methodological Overhaul Integration of AI in Price Measurement Significance TET 4. DSP Launches India’s First Retail Offshore Mutual Fund from GIFT City Context: India has officially opened the door to retail-focused offshore mutual funds with the launch of DSP Mutual Fund’s Global Equity Fund on June 2, 2025, from GIFT City (Gujarat International Finance Tec-City). This marks a regulatory milestone, enabling resident Indians to invest globally without relying on offshore brokerages, while sidestepping the Reserve Bank of India’s overseas investment caps applicable to SEBI-regulated mutual funds. Key Highlights: First Retail Global Fund Under GIFT City’s New 2025 Framework Why It Matters Implications Mint 5. RBI Bans Pre-Payment Charges on Floating Rate Loans for Individuals and MSEs Context: The Reserve Bank of India (RBI) has prohibited pre-payment charges on floating rate loans extended to individuals and Micro & Small Enterprises (MSEs), effective from January 1, 2026. The move aims to promote greater borrower flexibility, ensure fair lending practices, and eliminate anti-competitive barriers in credit markets. Key Highlights: Who Benefits? What Loans are Covered? Institutions Covered No Prepayment Charges Allowed for the Following: No Exceptions on Pre-Payment Source What is Not Allowed? Why This Move? Legal Basis RBI exercised powers under: The Indian Express 6. Mashreq Bank Gets In-Principle Nod to Open IBU at GIFT City, Gujarat Context: Mashreq Bank, one of the leading financial institutions in the UAE, has received in-principle approval (IPA) to set up an International Financial Services Centre Banking Unit (IBU) at GIFT City in Gujarat, making it the first UAE-based bank to achieve this milestone. Key Highlights: Services to be Offered by Mashreq’s GIFT City IBU These offerings will allow Mashreq to serve multinational clients more efficiently across time zones and regulatory jurisdictions. Strategic Significance TET Agriculture 1. KisaanSay to Partner with 500 FPOs Under Co-Branded Profit-Sharing Model Context: KisaanSay, a B2C agribusiness company that sources food products directly from farmers, is scaling up its partnership with Farmer Producer Organisations (FPOs) across India to boost farmer incomes and supply chain efficiency. Key Highlights: Why It Matters: This model directly connects farmers to consumers, promotes value addition at source, and supports rural entrepreneurship. It also aligns with India’s agri-export goals and digital retail penetration. BL 2. One-Nation-One-Licence for Micro-Fertiliser Manufacturers Amid Over-Regulation Context: The Indian Micro Fertilisizers Manufacturers Association (IMMA) has called for a complete overhaul of India’s fertiliser regulatory regime, citing high compliance costs, excessive inspections, and outdated provisions under the Fertiliser Control Order (FCO). Key Highlights: Why It Matters The fertiliser industry plays a key role in agricultural productivity. Rationalising outdated regulations and streamlining compliance can boost domestic production, lower prices, and reduce reliance on imports. BL Facts To Remember 1 Title: Centre to Begin Signature Process for Motion to Remove Justice Yashwant Varma Date: 4 July 2025 Context: Ahead of the Monsoon Session of Parliament (starting July 21), the Central Government is preparing to initiate a motion seeking the removal of Justice Yashwant Varma of the Allahabad High Court following the discovery of burnt currency notes at his official residence. 2. 3 Apache combat helicopters to arrive in India by July 15 Following the India-U.S. Defence Ministers’ dialogue, the long-awaited Apache combat helicopters are to be delivered in the next two weeks. 3. Nvidia becomes worlds most valuable firm Nvidia hit a market value of $3.92 trillion in intraday trade on Thursday, as Wall Street doubled down on optimism