Context: In a striking turn of events, monsoon sea erosion at Fort Kochi’s South Beach has unveiled what experts believe are long-buried remnants of Fort Emmanuel — the first European fort built in Asia, dating back to 1503. The laterite rock and surkhi (brick-lime mix) foundation, previously hidden under coastal sand and stone, emerged after waves stripped the coastline, offering rare physical evidence of Portuguese colonial architecture. Key Findings Identification of Fort Emmanuel Remains Ongoing Academic Investigation Historical Context and Previous Discoveries TOI
Iran Strikes U.S. Base in Qatar in Retaliation for Nuclear Site Attacks
Context: Iran launched missile attacks on the al-Udeid Air Base in Qatar, the largest U.S. military base in West Asia, in retaliation for U.S. airstrikes on Iranian nuclear facilities a day earlier. Key Highlights Geopolitical Context Implications TH
Daily Current Affairs (DCA) 24 June, 2025
Daily Current Affairs Quiz24 June, 2025 International Affairs 1. Iran Strikes U.S. Base in Qatar in Retaliation for Nuclear Site Attacks Context: Iran launched missile attacks on the al-Udeid Air Base in Qatar, the largest U.S. military base in West Asia, in retaliation for U.S. airstrikes on Iranian nuclear facilities a day earlier. Key Highlights Geopolitical Context Implications TH National Affairs 1. Ruins of Fort Emmanuel in Fort Kochi Context: In a striking turn of events, monsoon sea erosion at Fort Kochi’s South Beach has unveiled what experts believe are long-buried remnants of Fort Emmanuel — the first European fort built in Asia, dating back to 1503. The laterite rock and surkhi (brick-lime mix) foundation, previously hidden under coastal sand and stone, emerged after waves stripped the coastline, offering rare physical evidence of Portuguese colonial architecture. Key Findings Identification of Fort Emmanuel Remains Ongoing Academic Investigation Historical Context and Previous Discoveries TOI 2. World Meteorological Organization’s (WMO) State of the Climate in Asia 2024 Report Context: India’s eastern and western coasts are witnessing sea level rise at rates higher than the global average, according to the World Meteorological Organization’s (WMO) State of the Climate in Asia 2024 report. The alarming trends point to escalating climate risks for infrastructure, livelihoods, and ecosystems across the region. Key Climate Trends in India Accelerated Sea Level Rise Coastal and Urban Impact Himalayan Glacial Retreat Heatwaves and Lightning Broader Climate Patterns in Asia Rapid Regional Warming Catastrophic Natural Events Scientific Drivers of Sea Level Rise Consequences for India and Asia India’s Climate Risks Regional Impacts in Asia Recommended Measures and Strategic Response 1. Coastal Zone Management 2. Accelerated Emission Reductions 3. Early Warning and Climate Intelligence 4. Regional and Global Cooperation 3. NAVYA Initiative Context: In a significant step towards gender-inclusive economic development, the Government of India has announced the launch of NAVYA—a pilot initiative aimed at skilling adolescent girls aged 16–18 years. The programme will be implemented in Uttar Pradesh as part of the broader Viksit Bharat@2047 Vision, with a focus on creating a self-reliant and inclusive India. What is NAVYA? NAVYA stands for “Nurturing Aspirations through Vocational Training for Young Adolescent Girls.” It is a pilot skilling programme jointly launched by: Objectives of the NAVYA Initiative Key Features of NAVYA PIB 4. MToT Programme to Boost Panchayats’ Revenue Generation Context: In a major step toward empowering local governance, the Ministry of Panchayati Raj (MoPR), in collaboration with IIM Ahmedabad and the Indian Institute of Public Administration (IIPA), has launched a Training of Trainers (ToT) programme. This initiative aims to build the capacity of Panchayats to generate Own Source Revenue (OSR) under the Rashtriya Gram Swaraj Abhiyan (RGSA). What is the ToT Programme? The ToT programme is a training initiative focused on enhancing the financial autonomy of Panchayats by equipping them with the knowledge and tools needed for effective OSR generation. Objective Key Features of the ToT Programme About Rashtriya Gram Swaraj Abhiyan (RGSA) Objectives: Key Features: 5. Tripura Declared Fully Literate Under ULLAS Scheme Context: Tripura has been officially declared a fully literate state under the ULLAS – Nav Bharat Saaksharta Karyakram (New India Literacy Programme). The announcement marks a historic milestone in the state’s journey towards universal literacy and positions Tripura as the third Indian state, after Mizoram and Goa, to achieve full literacy status. About ULLAS – Nav Bharat Saaksharta Karyakram What is it? A centrally sponsored scheme (2022–2027) focused on adult literacy and lifelong learning, aligned with NEP 2020. Target Group: Youth and adults aged 15 years and above who missed formal schooling opportunities. Key Features: PIB Banking/Finance 1. RBI Rate Cut Could Revive Loan Growth, But Deposit Mobilisation Key: Fitch Context: Fitch Ratings has projected that the Reserve Bank of India’s recent 50 basis point rate cut could help revive loan growth to 12–13% in FY26. However, this growth is contingent on stronger deposit mobilisation by the banking sector. Key Banking Sector Metrics and Trends TH 2. RBI Eases PSL Norms for SFBs, Unlocks â‚ą40,000 Cr for Diversification Context: In a move aimed at increasing operational flexibility for Small Finance Banks (SFBs), the Reserve Bank of India (RBI) has reduced the priority sector lending (PSL) target from 75% to 60% of adjusted net bank credit (ANBC), freeing up approximately â‚ą40,000 crore for deployment in diversified, lower-risk lending. Key Regulatory Changes Implications for SFBs 3. Concerns Over Health Insurance Premiums and Governance Issues Context: The Ministry of Finance has urged the Insurance Regulatory and Development Authority of India (IRDAI) to intensify regulatory vigilance, improve claims settlement mechanisms, and address grievance redressal, amid growing concerns over surging health insurance premiums and lapses in corporate governance, especially within Stand-Alone Health Insurance (SAHI) companies. Key Government Concerns Highlighted Policy and Regulatory Context Issue Government Action Premium Hikes Directed IRDAI to review product pricing; prevent excessive hikes, especially for senior citizens. Governance IRDAI asked to scrutinize board decisions and ensure compliance with all regulations. PE Influence Concerns raised over PE-backed firms driving aggressive pricing strategies to boost valuations. Leadership Void IRDAI has been without a Chairperson since March 2025; government may appoint a senior bureaucrat. Insurance Amendment Bill The Insurance Laws (Amendment) Bill is likely to reshape the regulatory landscape: IRDAI’s Past Action In January 2025, IRDAI: TET 4. Housing Finance Company (HFC) Context: NHB Tightens Refinancing Norms for Under-Construction Home Loans to Curb Misuse. Housing Finance Company (HFC) A Housing Finance Company (HFC) is a type of Non-Banking Financial Company (NBFC) that specializes in providing housing loans and other related financial services. They are regulated by the Reserve Bank of India (RBI) and play a crucial role in the housing sector by offering loans for home purchase, construction, renovation, and land purchase for residential purposes. Key Characteristics of HFCs: Examples of HFCs in India: TET 5. Angel Funds in India Context: The Securities and Exchange Board of India (SEBI) has introduced a significant regulatory change by mandating that only accredited or “sophisticated” investors can participate in angel funds. This new framework is expected
U.S. Launches Strikes on Iran’s Nuclear Sites
Context: In a dramatic escalation of the Israel-Iran conflict, the United States launched direct strikes on Iran’s nuclear facilities, dropping 30,000-pound bombs on key uranium enrichment sites. The unprecedented attack marks a significant shift in U.S. engagement, prompting fears of a full-blown regional war. This Mission was named as “Operation Midnight Hammer”. Iran’s Nuclear Facilities Targeted in Airstrikes The US-Israel joint strike, part of a coordinated military operation, hit three of Iran’s most sensitive nuclear sites: 1. Fordow Fuel Enrichment Plant 2. Natanz Nuclear Facility 3. Isfahan Nuclear Complex Consequences of U.S. Involvement TH
e-Raktkosh Portal
Context: In a major move aimed at saving lives and reducing costs for patients with rare blood groups and genetic blood disorders, the Union Health Ministry is set to integrate the Rare Donor Registry of India (RDRI) with e-Rakt Kosh, the national blood bank management and availability platform. e-Raktkosh Portal e-Raktkosh is a comprehensive, centralized IT solution developed to streamline and standardize the functioning of blood banks across India. It supports transparency, traceability, and efficiency in the blood donation life cycle. Key Features of e-Raktkosh Understanding Blood Disorders What is a Blood Disorder? A blood disorder is a medical condition that affects the components of blood—red blood cells (RBCs), white blood cells (WBCs), plasma, or platelets—and hinders their normal function. TH
Delhi’s First Artificial Rain Project to Tackle Pollution
Context: The Delhi government, in partnership with IIT-Kanpur and the Department of Environment, is launching its first cloud seeding (artificial rain) pilot project to combat severe winter air pollution. What is Artificial Rain? Why Delhi Needs It Cloud Seeding What is Cloud Seeding? Cloud seeding is a scientific technique used to enhance precipitation by artificially dispersing chemical substances—such as silver iodide, potassium iodide, or dry ice—into clouds. These act as condensation or ice nuclei, encouraging the formation of raindrops or snowflakes. Applications of Cloud Seeding Types of Cloud Seeding UPSC Prelims PYQ 2025 Q. Artificial way of causing rainfall to reduce air pollution makes use of (a) silver iodide and potassium iodide (b) silver nitrate and potassium iodide(c) silver iodide and potassium nitrate (d) silver nitrate and potassium chloride Ans: (a) silver iodide and potassium iodide
SEBI Initiates Comprehensive Review of Mutual Fund Regulations
Context: The Securities and Exchange Board of India (SEBI) has launched a comprehensive review of the mutual fund (MF) regulatory framework to make it more investor-centric and industry-friendly, while improving the overall ease of doing business for stakeholders. Key Objectives of the Review Focus Areas of Reform Strategic Significance TH
SEBI Eases Startup Regulations and Introduces Major Reforms for AIFs, REITs, and PSUs
Context: The Securities and Exchange Board of India (SEBI), in its latest board meeting, introduced a comprehensive set of regulatory changes aimed at improving the capital-raising ecosystem for startups, simplifying delisting norms for PSUs, and enhancing operational flexibility for AIFs, REITs, and InvITs. These changes come amid global financial uncertainties and are expected to boost domestic fundraising and investment flows. Key Reforms for Startups Co-Investment Vehicle (CIV) Framework under AIFs REITs and InvITs Regulation Changes Simplified PSU Delisting Norms BS
SEBI Proposes Guardrails for AI and ML in Indian Securities Markets
Context: In a timely and forward-looking move, the Securities and Exchange Board of India (SEBI) has released a discussion paper titled “Guidelines for Responsible Usage of AI/ML in the Indian Securities Market.” This consultation initiative aims to regulate the rapid rise of artificial intelligence (AI) and machine learning (ML) applications—particularly algorithmic trading—on Dalal Street. Why It Matters? While AI doesn’t introduce fundamentally new risks to markets, it can amplify existing vulnerabilities such as market manipulation, flash crashes, systemic contagion, and biased decision-making. SEBI’s proactive stance is meant to ensure investor protection, financial stability, and ethical use of AI technologies in securities trading. Key Elements of SEBI’s Proposed Framework Implications TET
Credit Rating Agencies Seek Government Intervention
Contex: Credit Rating Agencies (CRAs) in India have approached the Ministries of Finance and Corporate Affairs, seeking immediate regulatory clarity on rating unlisted debt instruments worth over ₹1 lakh crore. These include Pass-Through Certificates (PTCs) and unlisted corporate bonds—a vital part of the country’s wholesale debt ecosystem. What’s the Issue? Why This Matters TET
