Daily Current Affairs Quiz04 & 05 January, 2026 National Affairs 1. Pradhan Mantri Matru Vandana Yojana (PMMVY) Completes 9 Years Context: Pradhan Mantri Matru Vandana Yojana, a flagship scheme of the government for pregnant women and lactating mothers, has completed nine years. Pradhan Mantri Matru Vandana Yojana (PMMVY) The Pradhan Mantri Matru Vandana Yojana (PMMVY) is a maternity benefit scheme implemented by the Government of India to provide conditional cash assistance to pregnant and lactating women for their first living child. The scheme aims to improve maternal health, nutrition, and compensate for wage loss during pregnancy and after childbirth. Key Objectives Cash Assistance Structure Total benefit: ₹5,000 (Direct Benefit Transfer – DBT) Installment Amount Condition 1st ₹1,000 Early registration of pregnancy 2nd ₹2,000 At least one antenatal check-up 3rd ₹2,000 Childbirth registered + first cycle of immunisation Additionally, eligible women also receive ₹1,000 under Janani Suraksha Yojana (JSY), making the total maternity benefit ₹6,000, as mandated under the National Food Security Act, 2013. 2. Electronics Component Manufacturing Scheme (ECMS) Source: ET Context: India is accelerating its push to strengthen domestic electronics manufacturing and reduce import dependence through targeted fiscal incentives. Key Development About the ECMS Beneficiaries Key Feature 3. Export Promotion Mission (EPM) Context: To boost exports and ease credit constraints faced by exporters—especially MSMEs—the Government has expanded the Export Promotion Mission (EPM) with additional financial support measures. Key Developments Scheme 1: Interest Subvention for Pre- and Post-Shipment Export Credit Scheme 2: Collateral Support for Export Credit 4. Rah-Veer (Good Samaritan) Scheme Source: PIB Context: The Ministry of Road Transport and Highways (MoRTH) has reiterated the protections and incentives available under the Rah-Veer (Good Samaritan) Scheme to encourage bystanders to assist road accident victims without fear of legal or procedural harassment. About Rah-Veer Rah-Veer is a Good Samaritan initiative notified under Section 134A of the Motor Vehicles (Amendment) Act, 2019, aimed at protecting citizens who help road accident victims during the Golden Hour—the critical first hour after an accident when timely medical care can save lives. Key Features 1. Legal Protection 2. Right to Anonymity 3. Limited Police Interaction 4. Hospital Safeguards 5. Recognition & Incentives 5. Olive Ridley Sea Turtles Context: With the nesting season underway, wildlife authorities have established sea turtle hatcheries along the Chennai coast to safeguard eggs and enhance hatchling survival, especially from threats like predation, artificial lighting, and human disturbance. What is it? The Olive Ridley sea turtle is among the smallest and most abundant sea turtle species, named after its olive-green, heart-shaped carapace (shell). It is globally renowned for its spectacular mass nesting phenomenon known as arribada, during which thousands of females nest simultaneously on selected beaches. Habitat and Distribution Global Range Indian Context Marine Habitat Conservation Status 6. Suryastra Rocket System – Indian Army Induction Context: The Indian Army has signed a ₹293-crore emergency procurement contract with NIBE Ltd., in collaboration with Elbit Systems, for the induction of the Suryastra rocket system—a long-range universal rocket launcher with strike capabilities of up to 300 km. About Suryastra Rocket System Suryastra is India’s first indigenous universal multi-calibre long-range rocket launcher system, designed for precision surface-to-surface strikes at 150 km and 300 km. It can integrate multiple rocket and missile types on a single launch platform, offering both saturation and precision firepower. Origin & Technology Aim of Induction 7. Indian Army to Deploy Ramjet-Powered Shells for 155 mm Artillery Context: The Indian Army is set to become the first armed force in the world to operationally deploy ramjet-powered artillery shells for its 155 mm artillery guns, marking a major leap in long-range conventional firepower. What is it? Ramjet-powered artillery shells are advanced 155 mm projectiles equipped with an air-breathing ramjet propulsion module. After being fired from a conventional artillery gun, the ramjet sustains thrust in flight, significantly extending the shell’s range without altering the gun system itself. About Ramjet Technology A ramjet is a type of air-breathing jet engine with no moving parts, designed to operate efficiently at supersonic speeds. Key advantage: Much higher efficiency and range compared to rocket-based propulsion for artillery shells. Banking/Finance 1. ‘Insurance Misselling a Significant Concern’, Says Irdai Source: ET Context: India’s insurance regulator has flagged misselling and unfair business practices as a growing concern, calling for corrective action by insurers to protect policyholders and strengthen trust in the sector. Key Findings What Is Insurance Misselling? Government’s Stand 2. RBI Eases Related-Party Lending Norms Source: FE Context: The Reserve Bank of India (RBI) has issued final guidelines on lending to related parties, easing several provisions from the draft norms and providing significant regulatory relief to banks and other regulated entities (REs). What is the decision? RBI has allowed existing related-party transactions that do not comply with the new norms to continue till their contractual maturity, subject to strict conditions. This move reduces disruption and avoids forced unwinding of legacy exposures. Key Relief Measures 1. Run-off of Existing Exposures 2. Scope Rationalisation 3. NBFC Exemptions Definition Changes for Clarity Other Important Changes Cooperative Banks All India Financial Institutions (AIFIs) Board Approval Exemptions 3. RBI Relaxes Risk-Weight Norms for NBFC Infrastructure Financing Source: FE Context: The Reserve Bank of India (RBI) has eased risk-weight norms for infrastructure lending by Non-Banking Financial Companies (NBFCs), compared with its draft framework, while issuing the final guidelines on Thursday. The move provides capital relief to lenders while retaining repayment-based safeguards to ensure prudence. What is the change? RBI has lowered the repayment thresholds required for NBFC exposures to qualify for reduced risk weights for high-quality infrastructure projects, though it has retained repayment-linked criteria, underscoring that repayments remain a key indicator of reduced project risk. Major Capital Relief: Key Changes Risk Weight Draft Norm Final Norm 75% After 5% repayment of original project debt After 2% repayment 50% After 10% repayment After 5% repayment Expanded Scope: High-Quality Infrastructure Projects RBI has partially widened the definition of high-quality infrastructure projects to include those where revenues depend on rights granted under concession or contract by: However, termination protection clauses