Daily Current Affairs Quiz18 December, 2025 National Affairs 1. World Anti-Doping Agency (WADA) Testing Figures Report 2024 Source: IE Context: India has again topped the global doping chart, according to the World Anti-Doping Agency (WADA) Testing Figures Report 2024, marking the third consecutive year at No. 1 — a worrying trend for Indian sport. Key Data: Sport-Wise Highest Offenders: Global Comparison: India far exceeds doping totals of other major sporting nations: 2. AFMS Launches India’s First AI-driven Community Screening Programme for Diabetic Retinopathy Source: News on Air Context: The Armed Forces Medical Services (AFMS) has rolled out India’s first artificial intelligence-enabled community screening programme for Diabetic Retinopathy, aimed at transforming early detection and prevention of diabetes-related blindness at scale. What is the initiative? A nation-first AI-powered screening system designed to detect and grade Diabetic Retinopathy at the community level. Developed through a collaboration between: Powered by the AI platform MadhuNetrAI. Aim of the programme Key Features 3. ISRO launches RESPOND Basket 2025 Source: TOI Context: The Indian Space Research Organisation (ISRO) has released RESPOND Basket 2025, inviting targeted research proposals from academic and research institutions across India to support its upcoming mission and technology requirements. What is RESPOND Basket 2025? A curated set of mission-oriented research problem statements, identified by ISRO and Department of Space (DoS) centres, designed to guide the academic community toward high-priority areas linked to India’s current and future space programmes. Issued by: Aim of the initiative 4. Vijay Diwas 2025 Source: TNIE Context: On Vijay Diwas 2025, President Droupadi Murmu inaugurated the ‘Param Vir Dirgha’ at Rashtrapati Bhavan — a dedicated gallery showcasing portraits of all 21 Param Vir Chakra (PVC) awardees. This installation replaces portraits of former British Aide-de-Camps, marking a significant step in India’s ongoing effort to remove colonial-era symbols and honour the nation’s own military heritage. About Param Vir Chakra (PVC) India’s highest military gallantry award, given for exceptional bravery, valour and supreme sacrifice in the presence of the enemy during wartime. Key features: Award criteria: About Aide-de-Camps (ADCs) An Aide-de-Camp is a commissioned military officer attached to high constitutional authorities such as the President, Governors, or Service Chiefs. Typical ranks: 5. India endorses Tianjin Declaration at SCO Summit 2025 Context: At the 2025 Shanghai Cooperation Organisation (SCO) Summit held in Tianjin, China, India joined other member states in adopting the Tianjin Declaration — a comprehensive outcome document affirming deeper cooperation in Artificial Intelligence governance, research, standards and capacity building across the Eurasian region. The declaration reinforces India’s stand on equitable and responsible AI, while expanding its multilateral technology engagement within the SCO framework. About the Tianjin Declaration An outcome document adopted by the SCO Council of Heads of States at the Tianjin Summit, laying out shared priorities on security, technology, economy and institutional reforms. About SCO (Shanghai Cooperation Organisation) A permanent intergovernmental regional organisation focused on security, economic cooperation and cultural ties across Eurasia. Banking/Finance 1. SEBI Overhauls Mutual Fund Cost Framework and Stockbroking Rules Source: Mint Context: The Securities and Exchange Board of India (Sebi) has revised the cost structure for the ₹80 trillion mutual fund industry, effective 1 April 2026, to enhance transparency and ease investor understanding. Key Highlights: 1. Introduction of Base Expense Ratio (BER) 2. Brokerage Fee Reduction Brokerage is paid to stockbrokers for executing buy/sell transactions on behalf of mutual funds. Lower brokerage reduces total fund costs and may improve investor returns. 3. Exit-Load Brokerage Removed 4. Shift from TER to BER Structure Under the new system, TER = BER + brokerage + regulatory levies + statutory taxes Market Impact 5. Stockbroker Regulations Overhauled SEBI has modernised stockbroker rules for the first time since 1992. Key features: Meaning: Instead of SEBI handling routine violations, stock exchanges will directly monitor stockbrokers for compliance, reporting, and misconduct. Qualified Stockbroker (QSB) rules refined Eligibility criteria updated to ensure firms with large scale operations are subject to tighter supervision. Pledged Share Lock-in Clarity Pledged shares will now remain locked in for the required period even after pledge invocation. Why important?During IPOs, promoters must lock in shares for a fixed period. But pledged shares couldn’t technically be locked earlier, creating compliance hurdles. The change fixes this gap. 6. Debt Market Reforms Retail Participation Incentives Aim: encourage wider retail investment in bonds. HVDLE Threshold Raised High Value Debt Listed Entities (HVDLE):Classification limit increased from ₹1,000 crore to ₹5,000 crore. This eases bond issuance requirements for NBFCs, HFCs, ARCs, and others. 7. Credit Rating Expansion Credit rating agencies may now rate instruments regulated by other financial sector authorities, increasing coverage for unlisted and non-traditional debt products. 8. Unclaimed Funds Transfer Rule Revised Unclaimed amounts from non-convertible securities must now be moved to the Investor Education and Protection Fund after seven years from maturity, instead of multiple staggered transfers earlier. 9. Conflict-of-Interest Norms Deferred SEBI has postponed decisions on new rules requiring asset disclosures by officials due to privacy concerns and complexities involving spousal trading restrictions. 2. PFRDA Allows Up to 80% NPS Withdrawal Source: TOI Context: The Pension Fund Regulatory and Development Authority (PFRDA) has revised NPS withdrawal rules, allowing private sector subscribers to withdraw up to 80% of their accumulated corpus, instead of the earlier 60%. The remaining 20% must be used to purchase an annuity to generate pension income. Key Changes: Tax Clarity Pending: Revised Eligibility Criteria: Full Withdrawal Limit Revised: For Corpus Between ₹8–12 Lakh: Subscribers can: 3. Amazon Pay Launches Biometric UPI Authentication Feature Context: Amazon Pay has introduced a new biometric authentication feature for UPI payments, allowing users to complete transactions using fingerprints or facial recognition. Key Highlights: Facts To Remember ICG Ship Sarthak makes first port call at Iran’s Chabahar The Indian Coast Guard (ICG) Ship Sarthak, an offshore patrol vessel, entered the Chabahar port in Iran on December 16 for a four-day visit till December 19. 2. World Tennis League A sports exhibition is a double-edged sword. There is a certain detachment that it maintains from fierce competition, which a purist may liken to trivialising. 3. Anantjeet, Darshna clinch
SEBI Overhauls Mutual Fund Cost Framework and Stockbroking Rules
Source: Mint Context: The Securities and Exchange Board of India (Sebi) has revised the cost structure for the ₹80 trillion mutual fund industry, effective 1 April 2026, to enhance transparency and ease investor understanding. Key Highlights: 1. Introduction of Base Expense Ratio (BER) 2. Brokerage Fee Reduction Brokerage is paid to stockbrokers for executing buy/sell transactions on behalf of mutual funds. Lower brokerage reduces total fund costs and may improve investor returns. 3. Exit-Load Brokerage Removed 4. Shift from TER to BER Structure Under the new system, TER = BER + brokerage + regulatory levies + statutory taxes Market Impact 5. Stockbroker Regulations Overhauled SEBI has modernised stockbroker rules for the first time since 1992. Key features: Meaning: Instead of SEBI handling routine violations, stock exchanges will directly monitor stockbrokers for compliance, reporting, and misconduct. Qualified Stockbroker (QSB) rules refined Eligibility criteria updated to ensure firms with large scale operations are subject to tighter supervision. Pledged Share Lock-in Clarity Pledged shares will now remain locked in for the required period even after pledge invocation. Why important?During IPOs, promoters must lock in shares for a fixed period. But pledged shares couldn’t technically be locked earlier, creating compliance hurdles. The change fixes this gap. 6. Debt Market Reforms Retail Participation Incentives Aim: encourage wider retail investment in bonds. HVDLE Threshold Raised High Value Debt Listed Entities (HVDLE):Classification limit increased from ₹1,000 crore to ₹5,000 crore. This eases bond issuance requirements for NBFCs, HFCs, ARCs, and others. 7. Credit Rating Expansion Credit rating agencies may now rate instruments regulated by other financial sector authorities, increasing coverage for unlisted and non-traditional debt products. 8. Unclaimed Funds Transfer Rule Revised Unclaimed amounts from non-convertible securities must now be moved to the Investor Education and Protection Fund after seven years from maturity, instead of multiple staggered transfers earlier. 9. Conflict-of-Interest Norms Deferred SEBI has postponed decisions on new rules
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
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
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
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.
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
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
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
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
