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

Daily Current Affairs Quiz15 July, 2025 National Affairs 1. Kaziranga National Park Context: A landmark bird survey conducted in Kaziranga National Park and Tiger Reserve, Assam, between March 18 and May 25, 2025, has documented 43 species of grassland birds, underlining the ecological richness of the Brahmaputra floodplain’s wet grasslands. Key Highlights: Kaziranga National Park (KNP) Kaziranga National Park (KNP), located in Assam, spans the districts of Golaghat, Sonitpur, Biswanath, and Nagaon. It is globally renowned for its efforts in wildlife conservation, especially of the Indian rhinoceros. Key Highlights: Read more.. 2. National Mobile Monitoring System (NMMS) in MGNREGS Context: Nearly four years after rolling out the National Mobile Monitoring System (NMMS) and three years after making it mandatory for MGNREGS (Mahatma Gandhi National Rural Employment Guarantee Scheme) workers, the Union Rural Development Ministry has identified serious misuse and manipulation in its implementation. About NMMS Platform The National Mobile Monitoring System (NMMS) is a mobile application developed by the Ministry of Rural Development to monitor attendance of workers under the Mahatma Gandhi National Rural Employment Guarantee Scheme (Mahatma Gandhi NREGS). What is MGNREGA ? MGNREGA was launched in the year 2005 as one of the largest work guaranteed program by the Ministry of Rural Government. The basic objective of MGNREGA was providing 100 days guaranteed employment in every financial year to any rural or adult people who are willing to do public work – related which is unskilled manual work. 3. Crop Seeds on ISS Project Context: As Group Captain Shubhanshu Shukla and the Axiom-4 crew return to Earth, the Indian Institute of Space Science and Technology (IIST) is set to launch post-flight research on crop seeds that were part of a biological payload aboard the mission. The project is a significant step in India’s efforts to explore space-based agriculture and microgravity research. About the “Crop Seeds on ISS” Project Crop Varieties Sent to ISS Significance of the Study TH 4. Pradhan Mantri Divyasha Kendra (PMDK) Context: The Union Ministry of Social Justice & Empowerment has inaugurated the 75th Pradhan Mantri Divyasha Kendra (PMDK) at Government Medical College, Badaun, Uttar Pradesh, reinforcing the Government of India’s commitment to inclusive development and empowerment of Divyangjan (persons with disabilities) and senior citizens. Pradhan Mantri Divyasha Kendra (PMDK) The Artificial Limbs Manufacturing Corporation of India (ALIMCO), under the Ministry of Social Justice and Empowerment, is spearheading the PMDK initiative to deliver affordable and high-quality assistive devices to senior citizens and persons with disabilities (PwDs). Key Features of PMDK: Government Schemes for Empowerment of PwDs Scheme Objective PM-DAKSH Skill development & rehabilitation for Divyangjan DeenDayal Disabled Rehabilitation Scheme Financial aid to NGOs for welfare of PwDs Assistance to Disabled Persons for Purchase/Fitting of Aids and Appliances (ADIP) Free aids/appliances to PwDs National Fellowship for Students with Disabilities Financial support for higher education Unique Disability ID (UDID) Card Single document for identification and availing benefits PIB 5. India Ranked 26th in Global Internet Speed Gap: Ookla Report Context: India ranks 26th globally in average internet connection speed, with a median download speed of 136.53 Mbps (April–June 2025), per Ookla data. The country jumped 93 positions from Rank 119 in September 2022, driven largely by its rapid 5G rollout since October 2022. India is also the world’s largest consumer of mobile data, with per capita consumption reaching 32 GB/month, surpassing China (29 GB) and the US (22 GB), according to the Ericsson Mobility Report. Comparative Rankings 5G Rollout Impact Investment & Infrastructure TET Banking/Finance 1. AU Small Finance Bank Partners with LIC to Distribute Insurance Products Context: On July 14, 2025, AU Small Finance Bank (AU SFB) and the Life Insurance Corporation of India (LIC) announced a strategic bancassurance partnership to distribute LIC’s insurance offerings through the bank’s branch network and digital platforms. Key Highlights: Strategic Objectives About the Institutions TH 2. MFIs Raise Lending Rates Despite RBI Rate Cuts Context: Despite the Reserve Bank of India (RBI) cutting the repo rate by 100 basis points in recent months, several microfinance institutions (MFIs) have increased their lending rates, citing persistent borrowing costs and asset quality stress. This move contrasts with the expected transmission of monetary policy to end borrowers. Key Developments Why Are Rates Rising? TET 3. Insolvency and Bankruptcy Code (IBC) Reforms Context: The Parliamentary Standing Committee on Finance has recently deliberated on setting up a dedicated National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) specifically for IBC-related cases. This comes ahead of proposed amendments to the IBC in the upcoming Monsoon Session of Parliament. Why Reforms Are Urgent Proposed Solutions BS 4. Fintech Giants Push Co-Branded Credit Cards Context: With the Unified Payments Interface (UPI) continuing to offer zero-merchant-discount-rate (MDR) transactions, major fintechs are exploring credit products as alternative revenue sources. This includes a focus on co-branded credit cards, personal loans, and gold loans. Key Developments: Fintech Revenue Strategy Implications for the Fintech Ecosystem TET 5. RBI Likely to Adopt Secured Rate as New Benchmark Tool for Monetary Policy Operations Context: The Reserve Bank of India (RBI) is reportedly preparing to shift its operational benchmark for monetary policy transmission from the unsecured Weighted Average Call Rate (WACR) to a secured overnight rate, such as TREPS or the newly introduced Secured Overnight Rupee Rate (SORR). Key Highlights: Impact TET Agriculture 1. NABARD Launches RuralTech CoLab to Boost Innovation in Rural Ecosystem Context: On its 44th Foundation Day (July 13, 2025), the National Bank for Agriculture and Rural Development (NABARD) launched RuralTech CoLab, a dedicated portal to unify and support rural technology start-ups in India. Key Highlights: Significance Business Line Facts To Remember 1. Saroja Devi, pioneer superstar, dies at 87 Veteran actor B. Saroja Devi passed away at her residence at Malleswaram in Bengaluru on Monday. She was 87 and died of age-related illness. 2. Indian Astronaut Shubhanshu Shukla Returns from ISS Aboard SpaceX Dragon after 18 Days in Orbit Group Captain Shubhanshu Shukla, the pilot of Axiom Mission 4 (Ax-4), has begun his return journey to Earth after an 18-day stay aboard the International Space Station (ISS). The mission