Daily Current Affairs Quiz31 May, 2025 International Affairs 1. Catastrophic Glacier Collapse: Climate Change Context: A colossal glacier collapse in the Swiss Alps has wrought severe destruction on the village of Blatten, burying nearly 90% of the settlement under a thick mudslide. Triggered by the sudden disintegration of a massive portion of the Birch Glacier, the landslide blocked the Lonza River and has left one man missing as rescue operations continue. The event highlights the escalating threat posed by glacier retreat in Alpine regions, driven largely by climate change. What is Glacier Meltdown? Glacier meltdown, also known as glacial retreat, occurs when glaciers lose ice faster than they accumulate new snow and ice. This leads to shrinking ice cover and the formation of glacial lakes. Glacier meltdown is a significant indicator of global climate change, impacting water resources, ecosystems, and increasing disaster risks. Reasons Behind Glacier Meltdown Impacts of Glacier Meltdown Climate Change and Glacier TH National Affairs 1. Government Eases Rules Under Advance Authorisation (AA) Scheme for Exporters Context: The government has relaxed norms under the Advance Authorisation (AA) Scheme to benefit exporters. Exporters can now claim duty-free benefits even if goods were shipped before licence issuance, provided the Bill of Entry is filed after the licence date. About the Advance Authorisation Scheme Key Features Recent Relaxation in Rules Impact 2. Launch of Swachh Survekshan Grameen (SSG) 2025 Context: Union Minister of Jal Shakti Shri C R Patil launched Swachh Survekshan Grameen (SSG) 2025, a nationwide rural sanitation survey by the Department of Drinking Water and Sanitation (DDWS), Ministry of Jal Shakti today in Delhi in the presence of Minister of State of Jal Shakti  Shri V. Somanna. Ministry Key Features Survey Criteria and Components SSG 2025 evaluates rural sanitation through four main components: 3. PadhAI Conclave on AI in Education Context: Union Minister for Education, Shri Dharmendra Pradhan, delivered the valedictory address at the concluding session of ‘PadhAI: Conclave on AI in Education’, organised by the Center of Policy Research and Governance (CPRG), in New Delhi. Key Highlights from Shri Dharmendra Pradhan’s Address: About the PadhAI Conclave 4. Union Minister Launches Ayush Suraksha Portal Context: In a historic move to boost consumer safety and regulatory governance in India’s traditional medicine sector, Shri Prataprao Jadhav, Union Minister of State (Independent Charge) for Ayush and Minister of State for Health & Family Welfare, launched the Ayush Suraksha Portal at Ayush Bhawan, New Delhi. The launch aligns with the Supreme Court’s directive to establish a centralized mechanism for monitoring misleading advertisements and adverse drug reactions (ADRs) in Ayush systems. Key Objectives of the Ayush Suraksha Portal Supreme Court Directive Key Functional Features Significance 5. India-Chile Comprehensive Economic Partnership Agreement (CEPA) Context: On 8 May 2025, India and Chile signed the Terms of Reference (ToR) for negotiating a Comprehensive Economic Partnership Agreement (CEPA). The first round of negotiations began on 26 May 2025 in New Delhi. Commitment reaffirmed during the State Visit of Chilean President Gabriel Boric Font to India in April 2025. Objectives and Vision Key Highlights of the First Round 6. India Launches DHRUVA Policy for Digital Addressing System Key Highlights What is DIGIPIN? What is DHRUVA? Policy Objectives 7. Indian Navy’s Anti-Submarine Warfare Capabilities Strengthened Context: On 29 May 2025, the keel laying ceremony for the 8th and final Anti-Submarine Warfare Shallow Water Craft (ASW SWC), designated BY 530, was held at Cochin Shipyard Limited (CSL), Kochi. Ceremony attended by Vice Admiral Rajaram Swaminathan (CWP&A) and senior officials from the Indian Navy and CSL. Project Highlights Strategic and Indigenous Importance 8. Swachh Survekshan Grameen (SSG) 2025 Launched by Jal Shakti Ministry Context: Union Minister of Jal Shakti, Shri C R Patil, officially launched Swachh Survekshan Grameen (SSG) 2025, a nationwide rural sanitation survey under the Department of Drinking Water and Sanitation (DDWS), Ministry of Jal Shakti. The launch event took place in New Delhi in the presence of Minister of State Shri V. Somanna, senior officials from DDWS, and state-level sanitation mission directors. Key Objectives Strategic Features of SSG 2025 Banking/Finance 1. RBI Directive on Default Loss Guarantee (DLG) What is Default Loss Guarantee (DLG)? Key Highlights of RBI’s Directive Additional Recent Update (May 2025) Implications BS 2. Niveshak Shivir by IEPFA and SEBI Context: The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, in collaboration with SEBI, has launched Niveshak Shivir, a pilot investor facilitation camp. The first camp will be held in Pune on June 1, 2025, aimed at providing a one-stop solution for resolving issues related to unclaimed dividends, shares, and other investor services. Key Objectives Services Offered Significance and Impact About IEPFA The Investor Education and Protection Fund Authority is a statutory body dedicated to investor awareness, protection, and education in India. It works through nationwide campaigns, digital tools, and strategic partnerships to build a financially informed citizenry. 3. Cassette-Swap Model for ATMs Context: India’s transition to a cassette-swap model for ATM cash replenishment, aimed at improving security and operational efficiency, has missed its fourth consecutive deadline, originally set for FY21 and now extended beyond FY25. Initiated in 2018 following recommendations of the D.K. Mohanty Committee on Currency Movement, the plan was to phase out open-tray replenishment at ATMs in favor of a more secure lockable cassette mechanism. What is the Cassette-Swap Model? Timeline and Implementation Phases The implementation was to occur in four phases across 30 cities: RBI’s Position and Regulatory Push Challenges in Implementation Why the Cassette-Swap Model Matters TH 4. RBI Annual Report 2024 Highlights Shift to EBLR in Indian Bank Loans Context: The Reserve Bank of India (RBI) Annual Report for FY2023-24 reveals a major shift in the Indian lending landscape, with a growing proportion of loans now linked to external benchmarks. This transition enhances transparency and strengthens monetary policy transmission. Key Data (as of December 2024) Institution-wise Distribution of Floating Rate Loans What is EBLR? The External Benchmark Lending Rate (EBLR) is a type of floating lending rate linked to an external, publicly available benchmark like the RBI Repo