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