Daily Current Affairs Quiz3&4 August, 2025 National Affairs 1. LVM3 Rocket with Semi-Cryogenic Engine Context: The Indian Space Research Organisation (ISRO) is preparing for a landmark technological advancement with the scheduled launch of an LVM3 rocket powered by a semi-cryogenic propulsion stage by early 2027. This will significantly enhance India’s space launch capability and reduce dependency on foreign engines. Key Developments: TH 2. National Child Survey to Develop Child Index Under Mission Vatsalya Context: To strengthen child rights protection and enhance evidence-based policymaking, the Ministry of Statistics and Programme Implementation (MoSPI), in collaboration with the Ministry of Women and Child Development (MoWCD), is set to conduct a National Child Survey. Objective of the Survey Mission Vatsalya Portal The Ministry of Women and Child Development (MWCD) has launched the revamped Mission Vatsalya Portal, a unified digital platform designed to streamline child protection services and integrate earlier services like Khoya-Paya and TrackChild. Objective Key Features of the Mission Vatsalya Portal Significance of the Child Index BS 3. India to Launch Climate Finance Taxonomy Context and Background: India is set to launch its first comprehensive Climate Finance Taxonomy in August 2025, providing clear definitions for investments that qualify as climate-aligned. The move aims to mobilize both domestic and international capital towards clean energy, adaptation, and achieving India’s net-zero targets. This taxonomy is aligned with India’s obligations under the Paris Agreement and was first announced in the Union Budget 2024 by Finance Minister Nirmala Sitharaman. What is Climate Finance Taxonomy? A climate finance taxonomy is a structured classification system that helps identify: Key Features of India’s Climate Finance Taxonomy As per the final draft prepared by the Department of Economic Affairs: Why This Matters Mint Banking/Finance 1. Choice International Gets SEBI Approval to Launch Mutual Fund Business via Choice AMC Context: Mumbai-based financial services company Choice International Ltd has received the final approval from the Securities and Exchange Board of India (SEBI) for its subsidiary, Choice AMC, to operate as a full-fledged Asset Management Company (AMC). This marks the company’s entry into India’s ₹50 lakh crore mutual fund industry. Key Highlights: Significance BS 2. Quant Mutual Fund Becomes First AMC in India to Launch Specialized Investment Fund (SIF) Context: Quant Mutual Fund has received final approval from the Securities and Exchange Board of India (SEBI) to launch India’s first Specialized Investment Fund (SIF), marking a major regulatory and strategic milestone in the evolution of the country’s asset management industry. Key Highlights: What is a Long-Short Fund? A long-short fund allows the fund manager to: About Specialized Investment Funds (SIFs) SIFs are a new fund category under SEBI’s framework allowing mutual funds to offer advanced investment strategies. These funds can be launched as: SEBI’s Compliance Mechanism for SIFs Mint 3. RBI Approves Merger of New India Co-operative Bank with Saraswat Co-operative Bank Context: The Reserve Bank of India (RBI) has approved the amalgamation of fraud-hit New India Co-operative Bank (NICB) with Saraswat Co-operative Bank (SCB), under its voluntary merger framework for Urban Co-operative Banks (UCBs). Key Highlights: Significance TOI 4. India Post Payments Bank Rolls Out Aadhaar-Based Face Authentication for Digital Banking Context: India Post Payments Bank (IPPB), under the Ministry of Communications, has launched Aadhaar-based face authentication for customer transactions nationwide, making it the first large-scale deployment of facial recognition-based banking in India. Objective To promote inclusive, contactless, and accessible banking for all citizens, especially the elderly, differently-abled, and those facing challenges with fingerprint or OTP-based authentication. Key Features of the Face Authentication Facility Significance About India Post Payments Bank (IPPB) TET Agriculture 1. Bio-Fortified Iron-Rich Potatoes to Enter Indian Markets Soon Context: India is set to introduce bio-fortified potatoes enriched with iron, aimed at combating nutritional deficiencies. The initiative is led by the International Potato Center (CIP), a global leader in tuber crop research, which is currently setting up its South Asia Regional Centre in Agra. Key Highlights: TH 2. Agri-Influencers in India Context: India is on track to reach over 900 million internet users by 2025, with the majority from rural areas, according to IAMAI-Kantar. This digital expansion has given rise to a new category of content creators—agri-influencers—who are reshaping perceptions of rural life and agriculture through authentic, grassroots digital content. Key Highlights: Why It Matters? This is more than a digital trend it’s a social transformation. Agri-influencers are helping India rethink agriculture through the lens of community, resilience, and innovation. Their stories are not only changing how farming is practiced but also how it is valued and celebrated. BL Facts To Remember 1. China, Russia start three-day joint naval drills in Sea of Japan China and Russia began joint naval drills in the Sea of Japan on Sunday as they seek to reinforce their ties and counterbalance what they see as a U.S.-led global order.  2. Four Somalis and three Ethiopians among 8 executed by Saudi Arabia Saudi Arabia executed eight people in a single day, state media said, amid a surge in the use of the death penalty in the Gulf monarchy particularly over drug-related convictions.  3. Norris wards off Piastri to win Hungarian GP Lando Norris held off McLaren teammate Oscar Piastri to win the Hungarian Grand Prix on a one-stop strategy and slash the Australian’s Formula One lead to nine points going into the August break. 4. Sreeshankar leaps to title in Kazakhstan Long jumper Murali Sreeshankar clinched his third straight title at the Qosanov Memorial Athletics Meet in Almaty, Kazakhstan, on Saturday after coming back from a long injury lay-off. 5. PM to Launch Bengaluru’s Yellow Line Metro on Aug 10 Prime Minister Narendra Modi will open the long-delayed Yellow Line of Bengaluru Metro on August 10, connecting Rashtriya Vidyalaya Road in South Bengaluru to Bommasandra on the east with 16 stations. 6. India Misses AIP Upgrade for Kalvari-Class Submarines Amid DRDO Delays India’s attempt to enhance the underwater endurance and stealth of its Kalvari-class (Scorpene) conventional submarines has suffered another setback. The indigenous Air Independent Propulsion (AIP) system being developed by DRDO is still not operational,