Daily Current Affairs Quiz21 June, 2025 National Affairs 1. BSNL Soft Launches India’s First Indigenous SIM-less 5G FWA Service Context: Bharat Sanchar Nigam Limited (BSNL) has unveiled Quantum 5G Fixed Wireless Access (FWA) in a soft launch held at its Ameerpet Exchange in Hyderabad. This milestone marks India’s first indigenous, SIM-less 5G FWA service, designed to deliver fibre-like broadband speeds over wireless 5G networks without trenching or physical fibre installation. Key Highlights of Quantum 5G FWA Technological Firsts TH 2. Direct-to-Device (D2D) Satellite Connectivity in India Context: Direct-to-Device (D2D) satellite connectivity is an emerging technology enabling direct communication between smartphones and satellites—bypassing traditional cell towers or terrestrial infrastructure. This innovation is critical for enhancing connectivity in remote, disaster-prone, or underserved regions. What is D2D Satellite Connectivity? D2D allows regular smartphones, wearables, and IoT devices to connect directly to satellites, using built-in antennas or minor software enhancements. This eliminates the need for satellite-specific hardware like bulky terminals or external receivers. How It Works Recent Developments in India Key Features of D2D Services Non-Terrestrial Network (NTN) NTNs are networks based on non-ground platforms—including: Applications of D2D Satellite Connectivity Banking/Finance 1. India Plans 100% FDI in Insurance with Eased Norms for Foreign Board Representation Context: The Union government is preparing to introduce amendments to the Insurance Act in the upcoming Monsoon Session, enabling 100% foreign direct investment (FDI) in the insurance sector—up from the current 74%. The reforms will also allow foreign insurers to appoint a majority of nonresident board members and key managerial personnel (KMPs). Key Highlights: Background (FDI in Insurance) Year FDI Cap Key Safeguards Introduced 2021 Raised from 49% to 74% – 50% board must be resident Indian citizens – At least one resident Indian KMP (CEO/MD) required – Restrictions on dividend payouts and repatriation – Enhanced regulatory disclosures 2025 (proposed) 100% Eased residency rules for board and KMPs; safeguards under review BS 2. RBI Lowers Priority Sector Lending Norms for Small Finance Banks Context: The Reserve Bank of India (RBI) has revised its Priority Sector Lending (PSL) guidelines for Small Finance Banks (SFBs), reducing their mandatory lending target from 75% to 60% of Adjusted Net Bank Credit (ANBC) or credit equivalent of off-balance sheet exposures, whichever is higher. The new norms will be effective from FY26 (2025–26). What is Priority Sector Lending (PSL)? Priority Sector Lending refers to the mandatory lending by banks to sectors deemed important for the overall development of the economy, particularly in terms of inclusive growth. These sectors include: The RBI mandates specific PSL targets for different types of banks to ensure adequate credit flow to these sectors, which might otherwise be underserved by commercial lending. Key Highlights of the New PSL Norm for SFBs: Implications of the Revision Background BL 3. Parametric Insurance Gains Momentum in India Amid Rising Climate Risks Context: Amid increasing frequency of extreme weather events, parametric insurance—a product that pays out automatically based on predefined environmental thresholds—is gaining traction in India. While still nascent, insurers expect its growth to accelerate due to climate change’s growing impact on livelihoods and public health. What is Parametric Insurance? Parametric insurance provides automatic payouts when predefined parameters (such as temperature, rainfall, wind speed, or seismic magnitude) are met or exceeded.Unlike traditional insurance, it does not require claim filing or damage assessment, ensuring quick and transparent disbursement. Key Features: BS 4. RBI Imposes ₹29.6 Lakh Penalty on Fino Payments Bank for Licensing Norm Breach Context: The Reserve Bank of India (RBI) has levied a monetary penalty of ₹29.6 lakh on Fino Payments Bank Ltd for non-compliance with its licensing guidelines applicable to payments banks. Key Highlights: Regulatory Context TET 5. Yield Spread Between 3-Year and 10-Year G-Secs Widens Sharply Amid RBI’s Liquidity Easing Context: The yield spread between India’s 3-year and 10-year government bonds has widened to 48 basis points (bps) in FY26, up from 15 bps at the start of the fiscal and just 4 bps in January 2025. This reflects the RBI’s monetary easing, liquidity infusion, and a 100 bps CRR cut. Key Highlights: About Government Bonds Government Securities (G-Secs) are sovereign debt instruments issued by the RBI on behalf of the Government of India. 6. SEBI Proposes Framework for Responsible Use of AI/ML in Securities Market Context: The Securities and Exchange Board of India (SEBI) has released a consultation paper proposing a structured framework to govern the responsible use of Artificial Intelligence (AI) and Machine Learning (ML) technologies in the Indian securities market. The proposals aim to safeguard investor interests, promote fairness, and ensure cybersecurity compliance amid rising adoption of AI/ML tools in trading, advisory, and surveillance. Key Features of SEBI’s Five-Point Plan Background and Next Steps TOI 7. Bajaj Allianz Launches India’s First State-wise Health Insurance Policy Tailored to Local Healthcare Needs Context: Bajaj Allianz General Insurance has introduced a first-of-its-kind ‘State-wise Health Insurance Policy’, offering region-specific health insurance solutions across 25 states and 5 Union Territories. This initiative marks a pioneering step in customising healthcare protection in alignment with the unique medical infrastructure, affordability, and disease profiles of each state in India. Key Features of the State-wise Health Insurance Policy Regionally Customised Coverage Lifetime Renewability About Bajaj Allianz General Insurance Bajaj Allianz is a joint venture between Bajaj Finserv Ltd and Allianz SE, offering a broad portfolio of insurance solutions including health, motor, home, cybersecurity, and even niche segments like pet and film insurance. The company holds an [ICRA]AAA rating, ensuring high trust and timely claims servicing across over 1,500 cities and towns in India. BS 8. CCI’s 2025 Cost Norms Context: The Competition Commission of India (CCI) has notified the Determination of Cost of Production Regulations, 2025, marking a major reform in how predatory pricing is assessed and regulated in India. These reforms aim to reinforce competition safeguards, especially in digital and capital-intensive markets, by introducing clear, consistent benchmarks based on Average Total Cost (ATC). What is Predatory Pricing? Definition:Predatory pricing involves a dominant firm deliberately setting prices below cost to eliminate competitors, eventually gaining monopoly power. Example:NSE

Daily Current Affairs Quiz20 June, 2025 International Affairs 1. International North-South Transport Corridor (INSTC) Context: With tensions escalating between Israel and Iran, India is closely monitoring the potential impact on its strategic infrastructure investments — particularly the Chabahar Port and the International North-South Transport Corridor (INSTC). International North–South Transport Corridor (INSTC) The International North–South Transport Corridor (INSTC) is a 7,200-kilometre multi-modal trade corridor that connects India with Iran, Central Asia, Russia, and Europe through an integrated network of ship, rail, and road routes. It aims to reduce the time and cost of cargo movement between major trade hubs such as Mumbai, Moscow, Tehran, Baku, Bandar Abbas, and Astrakhan. Originally signed on 16 May 2002 by India, Iran, and Russia, the project has since expanded to include several Eurasian economies. Key Objectives Synchronisation with Ashgabat Agreement INSTC aligns with the Ashgabat Agreement, a multilateral pact aimed at facilitating goods transit between Central Asia and the Persian Gulf. Members (Year of Joining): INSTC Member Countries Full Members: Observers: Note: Turkmenistan is not a formal member but has been invited to join by India. Geostrategic and Economic Significance National Affairs 1. Rare Earth Minerals and Magnets Context: India is finalizing a ₹3,500–5,000 crore incentive scheme to boost the domestic production of rare earth minerals and magnets, critical for electric vehicles (EVs), renewable energy, and defense applications. The scheme is expected to be approved within the next fortnight, according to a senior government official. Key Highlights Rare Earth Elements (REEs): Rare Earth Magnets: 2. Privacy is a Fundamental Right but is Subject to Reasonable Curbs: HC Context: In a significant ruling impacting digital evidence in matrimonial disputes, the Madhya Pradesh High Court has upheld the admissibility of WhatsApp chats obtained without consent. The court emphasized that while privacy is a fundamental right under Article 21, it is not absolute and may yield to the right to a fair trial, also protected under Article 21. Legal Provisions Referenced Right To Privacy The right to privacy is the fundamental right of individuals to control the dissemination and use of their personal information, maintain personal autonomy, and protect their dignity. It encompasses the right to make personal decisions without unwarranted interference, safeguard personal data, and enjoy private spaces free from surveillance.  Right to Privacy is a Fundamental Right in Which Case? In India, the right to privacy was recognized as a fundamental right in the case of Justice K.S. Puttaswamy (Retd.) and Anr. v. Union of India and Ors. (2017). This landmark judgment by the Supreme Court affirmed that the right to privacy is an intrinsic part of the right to life and personal liberty under Article 21 of the Constitution.  What are Fundamental Rights? Fundamental rights are a set of basic human rights that are guaranteed to citizens by Articles 12 to 35 of the Indian Constitution, which are contained in Part III. They serve as a safeguard against potential abuses of power by the government and ensure individuals can enjoy certain freedoms and liberties. 3. Performance Grading Index (PGI) 2.0 Report Context: The Ministry of Education has released the Performance Grading Index (PGI) 2.0 report for 2022–23 and 2023–24, evaluating the performance of States and Union Territories (UTs) on school education quality. The report offers an evidence-based analysis of educational outcomes and infrastructure in alignment with NEP 2020 and UN SDGs. What is PGI 2.0? Key Findings of PGI 2.0 (2022–24) Domain-Specific Performance Overall Trends in PGI 2.0 Report Positive Developments: Persistent Challenges: 4. FASTag-Based Annual Pass Context: In a bid to enhance seamless highway travel, the Union Minister for Road Transport has announced the rollout of a FASTag-based annual pass starting August 15, 2025. This initiative targets private non-commercial vehicles such as cars, jeeps, and vans, and aims to streamline toll payments and cut congestion across India’s national highway network. What is FASTag? What is the FASTag-Based Annual Pass? The annual pass is a prepaid tolling solution for frequent highway travelers using non-commercial private vehicles. Key Features: Banking/Finance 1. RBI Eases Project Finance Norms Context: In a significant move offering relief to lenders, the Reserve Bank of India (RBI) has finalized its project finance norms with a much-lowered general provisioning requirement for new project loans. The revised guidelines will come into effect from October 1, 2025, and mark a substantial easing from the stricter provisioning rules proposed in May 2023. Key Highlights of RBI’s Final Guidelines Impact BS 2. UNCTAD World Investment Report 2025 Context: Foreign Direct Investment (FDI) into India remained unchanged year-on-year in 2024 at $28 billion even as global FDI flows dropped 11 per cent, the United Nations Conference on Trade and Development (UNCTAD) said. In 2023, FDI inflows into India had plummeted 43 per cent in 2023 to $28 billion.  What is FDI? Key Highlights UNCTAD Insights BS 3. SEBI to Boost Transparency in Trading Costs Through Unbundling of Fees Context: The Securities and Exchange Board of India (SEBI) is taking steps to improve cost transparency for investors by unbundling trading and clearing charges. This move seeks to provide a clearer cost structure and enhance governance and financial independence of Clearing Corporations (CCs) from stock exchanges. Key Developments Next Steps 4. Sale of listed private non-financial firms rose 7.1% in Q4FY25: RBI Data Context: Sales of listed private non-financial companies registered 7.1% growth (y-o-y) during Q4-2024-25 compared with 8% growth in the previous quarter and 6.9% in Q4 2023-24, according to data released by the Reserve Bank of India (RBI). Overall Sales Growth Sector-wise Highlights Input Costs and Profitability Unlisted Companies Vs Listed Companies Unlisted Public Company An unlisted public company is a public company that is not listed on any stock exchange; therefore, it may raise finance through the issue and sale of shares to the public. The jurisdictions vary in criteria for listing. However, for a public company to be registered, it should meet minimum share capital and the number of shareholders. Listed Vs Unlisted Companies 5. Bank of Maharashtra Partners with SBI Card to Launch Co-Branded Credit Cards Context: In a significant move to deepen financial inclusion