Daily Current Affairs Quiz3 April, 2025 International Affairs 1. West Asia Conflict Context: On March 7, 2025, former U.S. President Donald Trump announced sending a letter to Iran’s Supreme Leader, Ayatollah Ali Khamenei, seeking negotiations on Tehran’s nuclear program. On March 15, the U.S. launched pre-emptive airstrikes against Ansar Allah (Houthis) in Yemen. Background: The U.S.-Iran Conflict Over Nuclear Policy Changing Regional Dynamics Iran’s Shrinking Strategic Space & Risk of War A Dangerous Crossroads With Iran’s regional allies weakened and Israel pressing for direct confrontation, the risk of war has never been higher. The final question remains: Will Trump commit to a full-scale war against Iran, or will diplomacy prevail? TH 2. Trump’s Fair and Reciprocal Plan Context: The Trump administration’s ‘Fair and Reciprocal Plan’ aims to counter non-reciprocal trade arrangements by imposing tariffs equivalent to those levied by U.S. trading partners. The plan assesses tariffs, discriminatory taxes, non-tariff barriers, exchange rate manipulation, and other restrictions that limit U.S. market access. Global Trade Dynamics Tariff Disparities & Challenges of Reciprocal Tariffs Policy Recommendations: Alternative to Tariff Wars While Trump’s reciprocal tariff strategy may serve as a bargaining tool, it risks self-inflicted economic harm by encouraging trade diversion. A more sustainable approach is to enhance global trade partnerships, eliminate regulatory barriers, and invest in digital trade expansion. TOI 3. Myanmar Earthquake Overview of the Earthquake Impact of the Earthquake Seismic Activity in South Asia Geodynamic Context of the Sagaing Fault What Does the Mandalay Earthquake Signal? The 2025 Mandalay earthquake underscores the urgent need for better seismic monitoring and infrastructure resilience in South Asia. With growing urbanization, the risks posed by major earthquakes could be catastrophic. Countries like India, Bangladesh, and Myanmar must strengthen earthquake mitigation strategies to minimize future disasters. 4. 6th BIMSTEC Summit in Bangkok Event Overview Key Agendas & Agreements Possible High-Profile Meetings Geopolitical Context Why This Summit Matters? 5. UNESCO Report Context: UNESCO released its report ‘Education and Nutrition: Learn to Eat Well’ on March 31, 2025, aligning with the Nutrition for Growth summit in France. The report highlights the interconnection between education and nutrition and how both impact learning outcomes, gender equality, and health. Key Findings A. How Nutrition Affects Education B. How Education Affects Nutrition Key Recommendations The report underscores the mutual dependence of nutrition and education. Implementing its recommendations can improve learning outcomes, health, and gender equality, shaping a more resilient future for students worldwide. National Affairs 1. Lok Sabha Passes Waqf (Amendment) Bill Key Highlights Waqf Amendment Bill, 2024 2. India to Expand Extended Producer Responsibility (EPR) Context: The Ministry of Environment, Forest & Climate Change (MoEFCC) is drafting EPR guidelines for: This follows previous EPR rules for plastic & e-waste management. Extended Producer Responsibility (EPR) Extended Producer Responsibility (EPR) is a policy approach that holds producers responsible for the entire lifecycle of their products, including the management of waste generated after consumers use them, encouraging sustainable design and recycling.  Extended Producer Responsibility (EPR) & Its Objectives EPR Regulations for Construction & Demolition (C&D) Waste EPR Guidelines for Used Cooking Oil (UCO) EPR Framework for Toxic & Hazardous Waste Implementation & Industry Implications Strengthening India’s Circular Economy BS 3. India’s Maritime Boundaries Set to Expand Key Developments Impact on Maritime Borders Official Process & International Alignment TET Science & Tech 1. ChaSTE: Chandrayaan-3’s Breakthrough in Lunar Temperature Measurement Overview of ChaSTE’s Mission How ChaSTE Worked Key Scientific Achievement Comparison with Past Missions Mission Body Instrument Challenges Faced Success? ESA’s Philae (2014) Comet 67P MUPUS Landed awkwardly, unable to deploy ❌ NASA’s InSight (2018) Mars HP3 (“The Mole”) Insufficient soil friction, failed to measure temperature ❌ ISRO’s Chandrayaan-3 (2023) Moon ChaSTE Successfully deployed, collected full data ✅ Why ChaSTE Succeeded? TH 2. Aerosol Reduction and Its Impact on Climate in India Aerosol Aerosols are tiny solid or liquid particles suspended in a gas, like air, and can be natural (e.g., volcanic ash, sea spray) or human-caused (e.g., pollution, smoke). They play a role in climate, air quality, and can also be a source of health problems.  What are Aerosols? Key Takeaways Scientific Findings Policy Implications TH Banking/Finance 1. Poonam Gupta Appointed RBI Deputy Governor Key Highlights of Poonam Gupta’s Appointment Challenges & Policy Priorities Debate on Inflation Targeting & Policy Framework Market Expectations from Gupta in April MPC Meeting 2. India’s Deposit Rates Declining Context: Banks & NBFCs begin cutting deposit rates, signaling an expected drop in interest rates. RBI expected to cut the repo rate on April 9, following a February reduction. Liquidity improving as RBI purchases bonds worth ₹1.4 lakh crore since January, with an additional ₹80,000 crore buyback announced. Deposit Rate Cuts by Major Lenders Government Small Savings Schemes Unaffected Liquidity & Market Impact Investment Implications Rate Cuts & Market Adjustments TET 3. Why RBI Should Hold Off on a CRR Cut Liquidity vs. Policy Rates RBI’s Response to Liquidity Tightness Why a CRR Cut May Not Be the Right Move Now Instead of rushing to cut CRR, RBI can wait and assess the impact of its existing measures while keeping its policy options open for future uncertainties. TET 4. AI-Driven Fintech Startups Revolutionizing Debt Collection Why Lenders Are Turning to AI for Debt Recovery Key Players in AI-Powered Debt Collection Fintech Disrupting Traditional Debt Collection The Future of AI-Driven Debt Recovery TET 5. RBI’s Record-High Net Short Positions and Liquidity Challenges Key Highlights Impact on Market and Liquidity Possible Scenarios RBI faces a delicate balancing act between managing rupee liquidity and protecting forex reserves. Rolling over short positions and conducting strategic OMO purchases could help stabilize market conditions. TET 6. Microfinance Sector Attracts Renewed Investor Interest Key Developments in March 2025 Sector Performance and Challenges Investor Confidence in Sector Resilience The recent influx of investment signals renewed confidence in microfinance’s long-term prospects. While challenges persist, strategic capital infusion could help stabilize the sector and drive future growth. TET 7. Lok Sabha Clears Banking Laws (Amendment) Bill, 2024 Key Objectives of the Bill Major Amendments Introduced Next Steps Mint 8. Beams Fintech Fund