Daily Current Affairs Quiz28 & 29 December, 2025 National Affairs 1. Kavach System Source: TH Context: The Indian Railways has missed the December 2025 deadline for operationalising the Kavach automatic train protection system on the Mumbai–Delhi and Delhi–Howrah (Kolkata) routes. The Railways now expects completion sometime in 2026 What is KAVACH? KAVACH is an indigenously developed Automatic Train Protection (ATP) system of Indian Railways, designed to prevent train collisions, over-speeding, and signal passing at danger (SPAD). Key Objectives How KAVACH Works Major Features 2. Passenger Assistance Control Room (PACR) Source: TH What is the News? The Ministry of Civil Aviation (MoCA) has established a 24×7 Passenger Assistance Control Room (PACR) to fast-track grievance redressal for air passengers and strengthen crisis response in civil aviation. What is Passenger Assistance Control Room (PACR)? The Passenger Assistance Control Room (PACR) is a permanent, round-the-clock integrated control centre that: Objectives of PACR 3. PARAM Rudra Supercomputer Unveiled at IIT-Patna Source: TOI What is the News? On 26 December 2025, the PARAM Rudra supercomputer was inaugurated at Indian Institute of Technology Patna, marking the first PARAM Rudra High-Performance Computing (HPC) system in Bihar. About PARAM Rudra Framework & Development The National Supercomputing Mission (NSM) The National Supercomputing Mission (NSM) is a flagship initiative of the Government of India to build a world-class supercomputing infrastructure, strengthen high-performance computing (HPC) capabilities, and support advanced research and innovation across the country. Launch & Nodal Agencies 4. PRAGATI (Pro-Active Governance and Timely Implementation) What is the News? Prime Minister Narendra Modi has called upon States to replicate the Centre’s PRAGATI platform, establish Data Strategy Units, and create deregulation cells to strengthen outcome-oriented, data-driven governance. The remarks were made at the National Conference of Chief Secretaries, a forum for Centre–State coordination. What is PRAGATI? PRAGATI (Pro-Active Governance and Timely Implementation) is a technology-enabled governance platform launched in 2015 by the Prime Minister’s Office. PRAGATI is a technology which ensure fast-track decision-making and effective implementation of critical government projects. Core Functions 5. Gandikota Canyon: India’s ‘Grand Canyon’ with Untapped Heritage Potential Why in News? Gandikota Canyon has drawn renewed attention as a spectacular but underdeveloped natural–heritage site, even as the state explores plans to enhance tourism infrastructure. What is Gandikota Canyon? Gandikota Canyon is a dramatic river gorge carved by the Penna (Pennar) River, renowned for its steep cliffs and striking geological formations.It is often referred to as the “Grand Canyon of India.” Location 6. Kanger Valley National Park Why in News? The Chhattisgarh government, with support from the Wildlife Institute of India (WII), has initiated detailed biodiversity surveys at Kanger Valley National Park as part of efforts to seek its recognition as a UNESCO World Heritage Site. What is Kanger Valley National Park? Kanger Valley National Park is a biodiversity-rich protected area known for: It is regarded as one of the most ecologically significant national parks in Central India. Location 7. Regional Level Pollution Response Exercise 2025 (RPREX-25) What is the News? The Indian Coast Guard (ICG) conducted the Regional Level Pollution Response Exercise 2025 (RPREX-25) off the coast of Mumbai, Maharashtra, in December 2025. ICG is the central coordinating authority for marine pollution response in India. Objective of RPREX-25 About RPREX-25 Exercise Design The exercise followed a two-phase approach: Phase I: Planning & Coordination Phase II: Full-Scale Sea Exercise Banking/Finance 1. Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025 Context: The Indian Parliament has passed the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, introducing wide-ranging changes to insurance laws that had remained largely static for decades. The reforms significantly liberalise the sector but raise concerns about whether consumer protection has been sidelined. Key Provisions of the Amendment Bill 1. 100% Foreign Direct Investment (FDI) The most significant change is raising the FDI cap in Indian insurance companies from 74% to 100% of paid-up equity. This allows full foreign ownership under the automatic route, intended to attract capital, global expertise, and innovation. 2. Liberalisation of Reinsurance The Bill lowers net-owned fund requirements for foreign re-insurers from ₹5,000 crore to ₹1,000 crore, making it easier for global reinsurers to establish a presence in India and deepen the reinsurance market. 3. Stronger Regulatory Powers for IRDAI The Insurance Regulatory and Development Authority of India (IRDAI) gets enhanced powers to: This is meant to strengthen consumer protection and oversight. 4. Policyholders’ Rights and Protection Measures New provisions include: 5. Ease of Doing Business The Bill simplifies compliance procedures, expands regulatory definitions (e.g., of “insurance intermediary”), and reduces bureaucratic hurdles, helping insurers grow and innovate. 6. Operational Autonomy for LIC LIC gets greater freedom to open zonal offices and manage regional operations without prior government approval, expediting its organisational flexibility. 2. Aryaman Finance Receives CoR from RBI to Operate as NBFC Source: What is the News? In December 2025, Aryaman Finance (India) Limited (AFIL) received a Certificate of Registration (CoR) from the Reserve Bank of India (RBI) to commence operations as a Non-Banking Financial Company (NBFC). AFIL is a wholly owned subsidiary of Aryaman Financial Services Limited (AFSL). Regulatory Basis NBFC Category Assigned Type-II NBFC–ND–ICC AFIL has been classified as a: Meaning: Permitted Functions of AFIL As a Type-II NBFC-ND-ICC, AFIL can: About the Parent Company (AFSL) Entry into NBFC space enables business diversification beyond capital markets. 3. Canara HSBC Life Insurance Partners with Equitas Small Finance Bank What is the News? Canara HSBC Life Insurance has entered into a strategic bancassurance partnership with Equitas Small Finance Bank to expand life insurance access across India. What is Bancassurance? Bancassurance is a distribution model in which banks sell insurance products (life, health, and general insurance) to their customers, acting as corporate agents, brokers, or referral partners of insurance companies. It leverages the bank’s wide branch network, customer trust, and data to expand insurance coverage. Insurance Products Offered 4. PayNearby Gets NPCI TPAP Licence; Launches ‘Saathi’ App What is the News? Fintech firm PayNearby has received a Third-Party Application Provider (TPAP) licence from the National Payments Corporation of India (NPCI).

Daily Current Affairs Quiz27 December, 2025 National Affairs 1. Pradhan Mantri Gram Sadak Yojana Context: In December 2025, the Pradhan Mantri Gram Sadak Yojana (PMGSY) completed 25 years, marking a landmark achievement in India’s efforts to transform rural connectivity and infrastructure. About Pradhan Mantri Gram Sadak Yojana (PMGSY) PMGSY is a Centrally Sponsored Scheme (CSS) aimed at providing all-weather road connectivity to eligible, previously unconnected rural habitations, thereby integrating villages with: Launch Objective Nodal Ministry Key Features of PMGSY 2. Five Digital Governance Reforms on Good Governance Day 2025 Source: PIB Context: On 25 December 2025, Jitendra Singh, Union Minister of State (Independent Charge), Ministry of Personnel, Public Grievances and Pensions (MoPP&P), launched five transformative digital governance initiatives of the Department of Personnel and Training (DoPT) on the occasion of Good Governance Day, during the National Workshop on Good Governance Practices 2025 in New Delhi. Five Transformative Digital Initiatives Launched Compendium on Reservation for Ex-Servicemen (ESM) AI-Powered Recruitment Rules Generator Tool e-HRMS 2.0 Mobile App iGOT AI Platforms KDLL 2.0 3. PM-VIKAS Scheme Source: PIB Context: In December 2025, the National Institute of Food Technology Entrepreneurship and Management, Kundli (NIFTEM-K) signed a Memorandum of Understanding (MoU) with the Ministry of Minority Affairs (MoMA) to implement the Pradhan Mantri Virasat Ka Samvardhan (PM-VIKAS) Scheme, aimed at skill development and livelihood generation for minority communities. What is PM-VIKAS? PM-VIKAS is a Central Sector Scheme implemented by the Ministry of Minority Affairs (MoMA) to provide skill development, entrepreneurship support and livelihood opportunities to minority communities across India. It integrates and subsumes earlier livelihood-oriented schemes of the Ministry to ensure convergence, scale and outcome-based delivery. Key Objective 4. India to Assume Chairpersonship of Kimberley Process Source: TOI Context: In December 2025, it was announced that India will assume the Chairpersonship of the Kimberley Process Certification Scheme (KPCS) from January 1, 2026. Key Highlights: About the Kimberley Process (KP) 5. India Successfully Test-Fires ‘K-4’ Missile from INS Arighaat Context: In December 2025, India successfully test-fired the ‘K-4’ Submarine-Launched Ballistic Missile (SLBM) with a range of ~3,500 km from INS Arighaat, India’s second nuclear-powered ballistic missile submarine (SSBN), in the Bay of Bengal, off the coast of Visakhapatnam, Andhra Pradesh. Key Highlights: About K-4 SLBM Banking/Finance 1. Insurance Regulatory and Development Authority of India fines Reliance General Insurance ₹1 crore Source: TH Context: The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a ₹1 crore penalty on Reliance General Insurance Company for violations related to commission payments, outsourcing norms and corporate governance guidelines. Key Findings by IRDAI Sections & Norms Violated Insurance Act, 1938 Section 40 – Limits on Commission Section 102(b) – Penalty for Contravention IRDAI (Outsourcing of Activities by Indian Insurers) Regulations IRDAI Corporate Governance Guidelines IRDAI (Payment of Commission) Regulations 2. SEBI Simplifies Procedure for Issuing Duplicate Securities Source: ET Context: The Securities and Exchange Board of India (SEBI) has simplified and standardised the process for issuance of duplicate securities certificates, doubling the threshold for simplified documentation from ₹5 lakh to ₹10 lakh to ease investor compliance. Key Changes Announced by SEBI Key Changes Introduced by SEBI 3. Insurers to Move Away from One-Size-Fits-All Models Source: TOI Context: Insurance companies in India are set to change how they price policies and manage risk as the Insurance Regulatory and Development Authority of India (IRDAI) introduces two major reforms from April 2026. What Are the Two Big Changes? 1. Risk-Based Capital (RBC) Norms What are RBC Norms? Risk-Based Capital (RBC) norms require insurers to maintain capital proportional to the actual risks they assume, instead of a flat, one-size-fits-all solvency requirement. In India, RBC norms are being introduced by Insurance Regulatory and Development Authority of India (IRDAI). Why Were RBC Norms Needed? Under the earlier framework: RBC corrects this distortion by linking capital → risk exposure. 2. Ind AS 117 (India’s version of IFRS 17) What is Ind AS 117? Ind AS 117 is India’s accounting standard for insurance contracts, aligned with IFRS 17, issued by the International Accounting Standards Board (IASB).It replaces the existing Ind AS 104, bringing uniformity, transparency, and comparability in insurance accounting. Why Was Ind AS 117 Introduced? Earlier accounting allowed insurers to: Ind AS 117 corrects this by aligning revenue recognition with insurance service delivery. 4. IRDAI Gets More Powers to Prevent Mis-selling Source: TOI Context: The Insurance Regulatory and Development Authority of India (IRDAI) has been granted enhanced statutory powers to curb insurance mis-selling through provisions in the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, recently cleared by Parliament. Key Objective of the Amendments Major Regulatory Powers Granted to IRDAI 1. Commission Disclosure & Regulation This marks a shift from opaque pricing to informed consumer choice. 2. Stronger Conflict-of-Interest Norms (Bancassurance Focus) 3. Tighter Control Over Intermediaries 5. India’s IPO Market Hits Record Highs Context: India’s IPO market has touched historic highs, raising about ₹3.8 lakh crore through 701 IPOs during 2024–25, surpassing the total capital raised in the previous four years combined. This reflects strong investor confidence, deepening capital markets, and robust corporate fundraising. About Initial Public Offering (IPO) An Initial Public Offering (IPO) is the process by which a private company offers its shares to the public for the first time, raising equity capital and becoming a publicly listed company on stock exchanges such as National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE). Types of IPOs in India Fixed Price Issue Book Building Issue (Most common in India) Stages of an IPO Process 1. Preparation & Due Diligence 2. DRHP Filing 3. Pricing & Bidding 4. Basis of Allotment 5. Listing 6. SBI launches YONO 2.0 Source: ET Context: India’s largest public sector bank, State Bank of India (SBI), has launched YONO 2.0, an upgraded version of its flagship digital banking platform YONO (You Only Need One). What is YONO 2.0? YONO 2.0 is a fully integrated digital banking ecosystem that combines: into a single, seamless platform with a common KYC and login framework. Key Features of YONO 2.0