Daily Current Affairs Quiz25 April, 2025 International Affairs 1. Pakistan Shuts Airspace and Trade With India After Pahalgam Terror Attack Context: Following the deadly terror attack in Pahalgam, Jammu and Kashmir, where 26 Indian men were killed by terrorists allegedly linked to Pakistan-based Lashkar-e-Taiba, tensions have escalated sharply between India and Pakistan. Key Developments: Implications: TH 2. WTO in the Age of Reciprocal Tariffs Decline of the WTO: Structural and Functional Breakdown WTO and the United States: Retreat from Multilateralism WTO’s Internal Gridlock and Reforms India’s Role and Trade Positioning China and the WTO: An Unanticipated Disruption The WTO at a Crossroads TH National Affairs 1. India to Increase GPU Procurement by 15,000 Units Context: India is set to procure 15,000 additional GPUs in the second round of bidding, which will increase the total number of high-performance graphics processing units (GPUs) to 33,000. The deadline for the second round of bidding is April 30. Procurement and Supply Process Strategic Goals and US Regulations Key Players in GPU Supply Cost Efficiency With this second round of procurement, India’s total number of high-performance GPUs will reach 33,000, boosting the nation’s AI research capabilities and supporting the IndiaAI Mission’s goals. BS 2. Algorithmic Management in India: ILO report Context: Algorithmic management (AM) in India has led to a decline in job quality, with “clear” evidence of increased monitoring, surveillance and work intensity, noted International Labour Organisation (ILO) in its latest report. Key Findings from ILO Report What is Algorithmic Management? Sectoral Impact Challenges in Remote Work and Occupational Safety Global Efforts to Regulate Algorithmic Management India’s National Policy on Safety The report, titled “Revolutionizing Health and Safety: The Role of AI and Digitalization at Work,” underscores the need for strong regulatory frameworks to mitigate the adverse effects of algorithmic management on job quality and worker health. It also highlights the increasing importance of AI and digitalization in reshaping occupational safety and health globally. BS 3. Panchayat Advancement Index (PAI) Context: Prime Minister Narendra Modi’s address on National Panchayati Raj Day emphasized the pivotal role of rural local bodies in India’s pursuit of Sustainable Development Goals (SDGs). The Ministry of Panchayati Raj recently launched the Panchayat Advancement Index (PAI), a tool designed to assess the progress of over 216,000 panchayats across key areas such as poverty alleviation, health, water sufficiency, livelihood enhancement, and governance. Key Features of the Panchayat Advancement Index (PAI) Challenges Faced by Panchayats in Achieving SDGs Opportunities and Recommendations To fully unlock the potential of panchayats and enable them to drive SDG implementation, several strategies must be pursued: The launch of the Panchayat Advancement Index (PAI) is a significant step in India’s journey to achieve the SDGs. However, the challenges identified, such as financial constraints, lack of technological infrastructure, and fragmented efforts, must be addressed to unlock the full potential of panchayats. Through enhanced capacity building, financial independence, and improved coordination, panchayats can become the key drivers of sustainable development in India’s rural areas. BS Science & Tech 1. World Malaria Day 2025 Context: April 25 is observed globally as World Malaria Day, initiated by the World Health Organization (WHO) in 2006. The day highlights the need for continued investment and innovation in fighting malaria, a disease that still infects 263 million people annually, killing over 600,000, with Africa bearing 95% of the global malaria mortality. From Miasma Theory to Scientific Discovery Impact on Colonialism and Global Politics Racial Hierarchies and Economic Exploitation Scientific Advances in Treatment and Prevention Current Status and Challenges TH Banking/Finance 1. DigiLocker Initiative Launched for Athletes Context: Sports Minister Mansukh Mandaviya has launched the DigiLocker facility for athletes, aiming to digitally store and manage essential sports documents. The initiative was unveiled at a formal event attended by representatives from 40 National Sports Federations (NSFs) and notable athletes including Mirabai Chanu and Jarmanpreet Singh. Objectives of the Initiative Mandatory Digitisation Timeline Benefits for Athletes Broader Vision TOI 2. New CBDT Notification Context: The Central Board of Direct Taxes (CBDT) has issued a notification stating that companies can no longer claim tax deductions on expenditures incurred to settle cases related to violations of specific financial and competition laws. The change, effective April 23, prohibits companies from deducting fines, penalties, or settlement amounts associated with four key laws while calculating taxable income. Laws Affected Impact on Businesses Government’s Stance BS 3. Equity Mutual Funds Performance Based on Information Ratios (IR) Context: The Information Ratio (IR) has become an important metric to evaluate the performance of equity mutual fund schemes on a risk-adjusted basis. This ratio helps investors understand how well a fund has performed relative to its benchmark, considering the risks involved. In the five-year period from 2020 to 2025, one in three equity mutual fund schemes managed to beat their benchmark based on IR. Key Insights on Fund Performance Category-Wise Performance Performance over Different Time Periods Top and Bottom Performing Funds Factors Driving Performance BS 4. Revised Eligibility Criteria for SMEs to Migrate to Mainboard on NSE Context: The National Stock Exchange (NSE) has revised its eligibility criteria for small and medium enterprises (SMEs) wishing to migrate to the mainboard, effective May 1 2025. These updated guidelines come in response to growing concerns about the governance and financial practices of SMEs, following recent scrutiny by the Securities and Exchange Board of India (SEBI). New Eligibility Requirements: Additional Requirements: Recent Context: Migration Data: The NSE has raised the bar for SMEs looking to migrate to the mainboard, with stricter financial and governance standards. These measures are aimed at improving transparency and ensuring that only well-managed firms make the transition to the mainboard. The revised guidelines will ensure greater scrutiny and enhance investor confidence in the SME sector. BS 5. Sebi Imposes ₹10 Lakh Fine on Future Retail Context: The Securities and Exchange Board of India (SEBI) has imposed a penalty of ₹10 lakh on Future Retail for disclosure lapses related to material events, particularly regarding arbitration proceedings initiated by Amazon. Key Highlights: Sebi’s Move to Ease Business for Small