Daily Current Affairs Quiz17 December, 2025 National Affairs 1. FSSAI Launches Egg Safety Drive After ‘Nitrofurans’ Controversy Source: TNIE Context: India’s food safety regulator, Food Safety and Standards Authority of India (FSSAI), has started collecting egg samples of a popular brand to test its quality following uproar over a viral video that claimed that it contained traces of a banned, potentially cancer‑linked substance. About Nitrofurans Human Health Implications 2. India–France Pact on HAMMER (AASM) Precision‑Guided Weapon Source: TOI Context: India has signed an agreement with France’s Safran to jointly manufacture, customise, supply and maintain the HAMMER (AASM) precision‑guided air‑to‑ground weapon. Manufacturing will be done in India through a 50:50 joint venture between Safran and Bharat Electronics Limited (BEL). The pact strengthens defence indigenisation, Make in India, and India–France strategic defence cooperation. What is HAMMER (AASM)? Developer and Manufacturing Objective and Strategic Aim 3. India–Maldives Joint Military Exercise EKUVERIN Source: TH Context: The bilateral military exercise EKUVERIN between the Indian Army and the Maldives National Defence Forces (MNDF) concluded after two weeks of joint training, reinforcing defence cooperation between the two countries. Key Details Focus Areas of the Exercise 4. IBC Amendment Bill, 2025 Source: Mint Context: A Lok Sabha select committee reviewed the IBC (Amendment) Bill, 2025 and is set to table its report in the lower house. Objective: Overhaul the Insolvency and Bankruptcy Code (IBC), 2016, to make the distressed-assets market more attractive and reduce delays in corporate turnaround. Key Provisions Proposed in the Bill Purpose and Rationale What is Insolvency and Bankruptcy Code (IBC)? The Insolvency and Bankruptcy Code (IBC), 2016 is India’s comprehensive law for resolving insolvency and bankruptcy in a time-bound and structured manner. Banking/Finance 1. Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025 Source: TH Objective The Lok Sabha passed an amendment bill to raise foreign direct investment (FDI) limit in India’s insurance sector to 100% from 74% earlier, in a move that is likely to boost competition and spur capital inflows. Key Provisions Foreign Direct Investment (FDI) Foreign Direct Investment is a long-term investment made by a foreign entity (company or individual) in the equity capital or business operations of a company in another country, with the intent to have significant control or influence over its management. Key Features of FDI: Key Differences Between FDI and FPI Feature FDI (Foreign Direct Investment) FPI (Foreign Portfolio Investment) Ownership & Control Significant (≥10% stake, management control) Minimal (<10% stake, no control) Investment Horizon Long-term Short-term Forms Equity in business, M&A, joint ventures Stocks, bonds, mutual funds Influence on Management Yes No Impact on Economy Jobs, technology transfer, infrastructure Liquidity, capital inflow, market depth Risk & Stability Lower volatility, more stable Higher volatility, market-sensitive 2. Rupee Breaches 91 per Dollar, Becomes Weakest Asian Currency in 2025 Source: TH Context: The Indian rupee depreciated beyond the 91 mark against the U.S. dollar during intraday trade, touching 91.14, before closing at 90.93. This marks a fresh all-time low, making the rupee the weakest Asian currency in 2025 and among the weakest globally this year. Factors Driving Rupee Weakness Factor Details / Impact Trade & Geopolitical Uncertainty – Uncertainty over India–U.S. trade deal affecting investor sentiment.– Global trade tensions increasing risk aversion in financial markets. Capital Outflows – FPIs withdrew ~$2.7 billion in first two weeks of December.– One of the largest monthly outflows of 2025, pressuring the rupee. Global Macro Pressures – Rising U.S. bond yields and expected Bank of Japan rate hike triggering yen carry trade unwinding.– Leads to sell-off in emerging-market assets, including the rupee. RBI’s Stance and Policy Interpretation Limited Intervention Strategic Considerations Past Policy Legacy 3. PFRDA Allows Loans Against Pension Savings Under NPS Source: BS Context: The Pension Fund Regulatory and Development Authority (PFRDA) has notified amendments to the PFRDA (Exits and Withdrawals under the NPS) Regulations, 2025, introducing significant reforms to enhance flexibility for National Pension System (NPS) subscribers, especially in withdrawals, exits, and retirement options. Major Reform: Loan Against NPS Corpus Financial Assistance Against Pension Savings Safeguards Rationalisation of Partial Withdrawal Rules Housing Medical Needs Removed Eligible Purposes New Eligible Purpose Changes in Exit and Withdrawal Structure (Non-Government Sector) Lock-in and Vesting Lump Sum vs Annuity at Retirement Special Provisions for Smaller Pension Corpus Corpus up to ₹8 lakh Corpus between ₹8 lakh and ₹12 lakh 4. Unclaimed Bank Deposits in India More Than Double in Five Years Source: BS Context: India’s unclaimed bank deposits have risen sharply, highlighting growing challenges in financial awareness, account dormancy, and beneficiary identification, even as the government has launched targeted recovery initiatives. What are Unclaimed Bank Deposits? An unclaimed bank deposit refers to money that has been deposited in a bank account but has not been accessed, withdrawn, or claimed by the account holder for a specified period. These can be in the form of savings accounts, fixed deposits (FDs), recurring deposits, or other bank instruments. Key Features of Unclaimed Bank Deposits Recovery Efforts by the Government ‘Your Money, Your Right’ Initiative Special Recovery Campaign Why Unclaimed Deposits Are Rising 5. India Needs Indian Banks Source: BS Context: The Reserve Bank of India’s (RBI) approach to bank ownership and promoter control has evolved significantly over the past two decades. Recent approvals allowing foreign regulated institutions to take large stakes in Indian private banks indicate a renewed regulatory preference that raises important questions about India’s long-term banking capacity and financial sovereignty. Evolution of RBI’s Bank Ownership Policy Phase 1: Emphasis on “Skin in the Game” (Early 2000s) Phase 2: Shift Towards Diversified Ownership (2005–2016) Core Concern: Over-Reliance on Foreign Capital Policy Recommendations 6. Sebi Board to Review MF Fee Structure and Stock Broker Rules Source: BS Context: The Securities and Exchange Board of India (Sebi) is set to consider a wide-ranging set of regulatory reforms at its upcoming board meeting, aimed at reducing investor costs, modernising market regulations, improving disclosures, and streamlining capital market processes. Key Regulatory Proposals Under Review Overhaul of Stock Broker Regulations Revamp of Mutual Fund Fee Structure (TER) IPO Process