Daily Current Affairs Quiz18 & 19 May, 2025 National Affairs 1. India Imposes Port Restrictions on Imports from Bangladesh Context: India has imposed port restrictions on specific imports from Bangladesh, citing reciprocal trade measures following Bangladesh’s restriction on Indian exports via land ports. Key Developments: List of Specified Commodities Under Import Restriction Impact & Implications: TH 2. National Manuscripts Mission Date of Launch: June 9, 2025New Name: Gyan Bharatam Mission Context: The Government of India is relaunching the National Manuscripts Mission (NMM) under a new avatar, Gyan Bharatam Mission, to enhance efforts in manuscript conservation, digitization, and cultural preservation. Key Features of the Gyan Bharatam Mission Budgetary Allocation Current Status of Manuscript Digitization TH 3. India Semiconductor Mission (Semicon 2.0) Context: India aims to achieve 5% of global semiconductor chip production capacity by 2030. This initiative is part of the next phase of the India Semiconductor Mission (Semicon 2.0). Incentive Scheme & Investments Current Approved Projects and Output Company / Project Type Daily Chip Capacity (in million) Tata Fab 48 HCL-Foxconn JV OSAT 1.2* CG Power OSAT 15 Kaynes OSAT 6.3 Micron ATMP 4.8 (expected by end-2025) Polymatech (Chennai) ATMP 6 (currently operational) Suchi Semicon (Gujarat) State cleared 10 RRP Electronics (MH) + RIR Power (Odisha) State cleared 6 (combined est.) Ecosystem Development under Semicon 2.0 BS 4. EOS-09 (Risat-1B) Satellite Context: The Indian Space Research Organisation (ISRO) recently witnessed a rare failure of its Polar Satellite Launch Vehicle (PSLV), leading to the loss of the EOS-09 (Risat-1B) satellite. This event has triggered technical introspection, given PSLV’s high success record and strategic importance. EOS-09 (RISAT-1B): India’s C-Band Radar Imaging Satellite Overview: Key Features: Purpose and Applications: Significance of PSLV in India’s Space Program TOI 5. SWAYAM Platform Context: Banaras Hindu University (BHU) has been appointed as the national coordinator for the Institutions of National Importance (INI) domain on the SWAYAM platform, replacing IIT Madras/NPTEL. The move marks a strategic shift to diversify online learning beyond STEM disciplines, aligning with the goals of the National Education Policy (NEP) 2020. SWAYAM Platform Banking/Finance 1. What is a Derivative? A derivative is a financial contract whose value is based on an underlying asset (e.g., stock, index, gold, oil). Types of Derivatives in India Why So Many Warnings Against Derivatives? Global Perspective: Warren Buffet Indian Regulators’ Concerns Risks Associated with Derivatives 1. Not a Long-Term Asset 2. Leverage Risk 3. Misuse by Retail Investors 4. Time Decay in Options 5. Illusion of Safety in Options 2. RBI’s Contingent Risk Buffer and Surplus Transfer What is the Contingent Risk Buffer (CRB)? Recent Developments Implication for Surplus Transfer Why It Matters BS 3. The Alternative Investment Funds (AIFs) Industry Context: The Indian Venture and Alternate Capital Association (IVCA) has urged SEBI to set up an inter-regulatory platform to: Key Issues Strategic Focus Areas for AIF Reform Shift Towards Accredited Investors Revisiting Outdated Norms BS 4. IBC Amendment and RERA Participation Context: The Insolvency and Bankruptcy Board of India (IBBI) has amended corporate insolvency regulations. Need for Structural Reforms Proposed Solutions Current Amendment Is Inadequate BS 5. RBI Enforcement and Penalties in FY24 Context: RBI imposed penalties in 281 instances totaling ₹86.1 crore in FY24, up from ₹40.4 crore (211 cases) in FY23. RBI’s Scale-Based Enforcement Framework Legal Framework Fraud Detection: Lag Still a Major Problem Technology Gaps in Fraud Detection Need for Sector-Wide Governance Reform BS 6. Customer Service and Accountability in Indian Banking Context: The Indian banking sector is undergoing a paradigm shift in customer service, driven by direct interventions from the Ministry of Finance and the Reserve Bank of India (RBI). A recent incident involving a surprise branch visit by DFS Secretary M. Nagaraju highlights the push for accountability and excellence in customer care. CPGRAMS Revitalization CPGRAMS: India’s Unified Online Public Grievance Redressal System Overview: Key Features: RBI’s Push for Customer-Centric Banking BS 7. Capital Adequacy Ratio (CAR) Context: Shapoorji Pallonji Group has asked the Reserve Bank of India (RBI) to give its unit, Sterling Investment Corp, three years to meet enhanced capital adequacy norms in relation to a recent bond issue, said people with knowledge of the matter. What is Capital Adequacy Ratio (CAR)? The Capital Adequacy Ratio (CAR) is a key financial metric used to assess a bank’s ability to withstand financial stress by maintaining sufficient capital reserves. It is a regulatory requirement that ensures banks can absorb potential losses while continuing to operate, thereby protecting depositors and maintaining financial system stability. Key Features of CAR: Components of CAR CAR Requirements in India (as per RBI norms): (Note: These are above the Basel III minimum requirement of 6%, reflecting India’s cautious regulatory stance.) Why is CAR Important? 8. External Commercial Borrowings (ECBs) Context: Non-Banking Financial Companies (NBFCs) in India are increasingly turning to External Commercial Borrowings (ECBs) for cheaper and more diversified funding as domestic banks delay passing on the benefits of recent repo rate cuts. External Commercial Borrowings (ECBs) Definition: Key Sources of ECBs: Regulatory Framework: Usage Restrictions: Permissible Use and Limits: Sector-Specific Limits: 9. SEBI Expands Scope of Electronic Book Mechanism for Debt Market Efficiency Context: SEBI has made Electronic Book Provider (EBP) platform usage mandatory for all private placement debt issues of ₹20 crore or more. Expanded Scope of Applicability Objective of the Move Background Implications 10. PayU Gets Final RBI Approval to Operate as Payment Aggregator Key Highlights: Agriculture 1. Genome-Edited Rice Varieties Context: India has released the world’s first gene-edited rice varieties developed using CRISPR-Cas9 technology. Deployment & Timeline Government Support & Programme Intellectual Property Rights (IPR) & Farmer Protection Addressing Budget Constraints BS 2. India Set to Launch Satellite-Based Handheld Soil Testing Tool for Farmers Context: The Government of India is working on a real-time, handheld digital soil testing tool using satellite-based technology. This tool aims to replace traditional soil testing, which is time-consuming, labour-intensive, and dependent on government laboratories. Key Features of the Digital Soil Testing Tool Technological Backbone Advantages Over Traditional Methods Complementary Initiatives Economic Context Significance Mint 3. Govt releases 3 new