Source: BS Context: India’s seed sector, valued at over ₹35,000 crore, is at the cusp of significant regulatory and policy changes through: These reforms aim to enhance quality, investment, and innovation in the sector while balancing farmer rights and food security. 1. Draft Seeds Bill, 2025 2. Proposed Amendments to PPVFRA 3. Plant Treaty (ITPGRFA) Negotiations
37,000-Year-Old Thorny Bamboo Fossil – Manipur
Source: TOI Context: A team of scientists from the Birbal Sahni Institute of Palaeosciences (BSIP) has discovered a 37,000-year-old fossilized bamboo stem in the Imphal Valley of Manipur. This rare fossil provides the earliest evidence of thorny bamboo in Asia and offers important insights into Ice Age climate conditions and plant evolution. Discovery: Significance of the Discovery
Daily Current Affairs (DCA) 28&29 November, 2025
Daily Current Affairs Quiz28 & 29 November, 2025 International Affairs 1. G20 Johannesburg Summit 2025 Context: About G20 – Establishment and Evolution Origin and Purpose: Presidency: G20 Johannesburg 2025 Geopolitical Tensions National Affairs 1. IMF Assigns Second-Lowest ‘C’ Rating to India’s National Accounts Statistics (NAS) and Inflation Data Source: BS Context The International Monetary Fund (IMF) currently rates India’s national accounts data at ‘C’, the second-lowest grade in its four-tier Data Adequacy Assessment (DAA) scale. The IMF assesses the adequacy of official statistics for surveillance of a country’s economy. A ‘C’ rating indicates that data shortcomings somewhat hamper economic surveillance. Following India’s announcement of a new GDP and CPI series, the IMF is expected to upgrade its rating in early 2026. Key Highlights: National Accounts Statistics (NAS): Received a ‘C’ grade. Consumer Price Index (CPI): Graded ‘B’, meaning it is broadly adequate but with some shortcomings. Current Status and IMF Assessment Reasons for ‘C’ Grade – IMF Observations India’s National Accounts Statistics (NAS) Publisher: Ministry of Statistics and Programme Implementation (MoSPI) Purpose: Methodology: Key Indicators Published: Upcoming Revisions in India’s Data Other Improvements Highlighted by Indian Officials IMF Recommendations for Further Improvements 2. Samudrayaan Mission Context: India’s first manned deep-sea mission, Samudrayaan, has hit a timeline setback due to delays in receiving syntactic foam cladding from France. The foam is essential for providing buoyancy to the submersible MATSYA 6000, which is designed to dive 6,000 metres into the ocean. The mission is led by the National Institute of Ocean Technology (NIOT), Chennai under the Ministry of Earth Sciences. What is Samudrayaan? 3. Tex-RAMPS Scheme Source: TOI Context: Implementing Ministry: Financial Outlay: Key Components Key Features 4. India’s Revised Earthquake Design Code – 2025 Source: TOI Context: Publishing Authority: Key Features of the Revised Seismic Zonation Map 5. S-500 Prometey Air Defence System Context: PM of India and President of Russia to meet during the India–Russia Summit. Defence ministers expected to discuss India’s potential acquisition of Russia’s next-generation S-500 air defence system. S-500 Prometey Air Defence System Purpose: Key Features Banking/Finance 1. RBI Issues 244 Consolidated Master Directions to Simplify Compliance Source: ET Context: The Reserve Bank of India (RBI) has issued 244 Consolidated Master Directions (MDs) to streamline and rationalise decades of regulatory instructions for Regulated Entities (REs). This step follows a review of around 3,500 prior directions, circulars, and guidelines and aims to reduce compliance burden. Key Highlights: Customer Consent and Choice Risk Mitigation Requirements Accessibility and Network Independence Monitoring and Surveillance Restrictions on Third-Party Offerings Communication Guidelines Regulated Entities Covered The consolidation covers the following 11 types of entities: Objective 2. IMF Gives ‘C’ Grade to India’s National Accounts Statistics Source: IE Context: The International Monetary Fund (IMF), in its Annual Article IV Review, has assigned a ‘C’ grade to India’s national accounts statistics, including GDP and GVA. This grade is significant as India is set to release the Q2 FY25 national accounts data on Friday. Meaning of ‘C’ Grade Weaknesses Cited by IMF 1. Outdated Base Year (2011–12) 2. Use of Wholesale Price Index (WPI) for Deflators 3. ‘Sizeable Discrepancies’ in GDP Estimates Approaches to GDP Measurement in India 1. Income Approach (Primary method used by India) Measures GDP by adding up incomes earned by: 2. Expenditure Approach (Supplementary estimate) Measures GDP by calculating spending by: Differences frequently arise due to: 3. FinMin and RBI Developing Unified Portal for Unclaimed Financial Assets Source: ET Context: The Ministry of Finance, in collaboration with the Reserve Bank of India (RBI), is developing a single unified digital portal to help individuals locate and claim unclaimed financial assets across multiple asset classes. The announcement was made by M. Nagaraju, Secretary, Department of Financial Services, during a PNB-led investor awareness event under Aapki Poonji Aapka Adhikar. Unclaimed Financial Assets Unclaimed Assets refer to money or financial instruments that legally belong to an individual but remain untouched, unwithdrawn, or unclaimed for a long period.These assets typically become “unclaimed” because the owner: Banks must transfer unclaimed bank deposits (10+ years) to the Depositors Education and Awareness Fund (DEAF) maintained by RBI. Unified Portal for All Unclaimed Assets What Is an Inoperative Account? An Inoperative Account is a bank account that has seen no customer-initiated transaction for a fixed period. 4. IMF Report: Zombie Firms Highlight Inefficient Insolvency Resolution in India Source: BS Context: The International Monetary Fund (IMF), in its recent staff report on the Indian economy, highlighted structural inefficiencies in India’s business environment, low business dynamism, and issues in the insolvency resolution framework under the Insolvency and Bankruptcy Code (IBC) Amendment Bill. The report emphasised the prevalence of zombie firms and gaps in operational creditor rights. Low Business Dynamism Persistence of Zombie Firms Zombie Firms are businesses that continue to operate but are financially weak and unable to generate enough profits to cover their interest payments for a prolonged period. IBC Amendment Bill Gaps Recovery Rates and Pre-admission Delays Recommendations by IMF 5. Bandhan Bank to Sell Unsecured Non-Performing Assets (NPAs) Source: IE Context: Kolkata-headquartered Bandhan Bank has announced plans to sell unsecured retail non-performing assets (NPAs), including written-off accounts, worth ₹6,931.31 crore to Asset Reconstruction Companies (ARCs) and other permitted entities. This marks one of the largest retail NPA sales by a private sector bank in India, primarily from its microfinance portfolio. What is an NPA (Non-Performing Asset)? A Non-Performing Asset (NPA) is a loan or advance where the borrower has stopped making scheduled payments (principal or interest) for a certain period.As per RBI norms: When does a loan become NPA? A loan is classified as NPA after 90 days of overdue in the case of: Categories of NPAs In simple words:If a borrower does not pay for 90 days, the bank stops recognising income from that loan and marks it as NPA. Norms to Sell NPAs (As per RBI Guidelines) Banks can sell NPAs to: Eligibility for Sale 6. RBI Final Guidelines on Digital Banking Channels Source: TH Context: The Reserve Bank of India (RBI) has issued its final instructions
Aravalli Hills
Source: IE Context: About Aravalli Hills Key Changes Aspect Old Definition New Definition Elevation Hills ≥ 20 m above surrounding terrain Hills ≥ 100 m above local relief Coverage 12,081 mapped hills (20 m+) 1,048 hills (~8.7%) Legal Status Protected under environmental laws Only ~8.7% retain “Aravalli Hill” status; ~90% lose protection Implication for Land Use Restricted mining & construction Large-scale areas now potentially open for mining, real estate, and development Major Hill Ranges in India Hill Range Location (States) Highest Peak (m) Significance Aravalli Hills Rajasthan, Haryana, Delhi, Gujarat Guru Shikhar (1,722) Oldest fold mountains, prevent desertification, groundwater recharge Vindhya Range Madhya Pradesh, Uttar Pradesh, Bihar Sad-bhawna Peak (~752) Cultural divide N/S India, source of rivers like Betwa Satpura Range Madhya Pradesh, Maharashtra, Chhattisgarh Dhupgarh (1,350) Dense forests, tribal settlements, rich biodiversity Western Ghats Maharashtra, Goa, Karnataka, Kerala, Tamil Nadu Anamudi (2,695) UNESCO heritage site, biodiversity hotspot, origin of Godavari, Krishna, Kaveri Eastern Ghats Odisha, Andhra Pradesh, Tamil Nadu Arma Konda (1,680) Discontinuous, mineral-rich, origin of rivers like Mahanadi Himalayas J&K, Himachal Pradesh, Uttarakhand, Sikkim, Arunachal Kangchenjunga (8,586) Young fold mountains, glaciation, climate barrier Shivalik Hills Foothills of Himalayas (Punjab, Haryana, HP, Uttarakhand, Sikkim) — Youngest mountains, all
3.5-Billion-Year-Old Mars Crater
Source: TH Context: The International Astronomical Union (IAU) has approved naming a 3.5 billion-year-old crater on Mars after M.S. Krishnan, one of India’s pioneering geologists. The proposal was submitted by two Kerala-based researchers and marks a significant recognition of Indian scientific heritage in planetary nomenclature. Mars Craters A crater on Mars is a circular depression formed primarily by the impact of meteoroids, asteroids, or comets striking the surface. Notable Craters on Mars: Crater Name Location/Region Significance Gale Crater Aeolis region Landing site of Curiosity Rover; evidence of ancient water Jezero Crater Syrtis Major Planum Landing site of Perseverance Rover; ancient river delta Huygens Crater Southern hemisphere Large, heavily eroded crater Hellas Basin Southern hemisphere One of the largest impact basins in the Solar System Gusev Crater Near Martian equator Explored by Spirit Rover; past water flows Mars Crater Named ‘Krishnan Crater’ Kerala Place Names Adopted on Mars IAU approved several Kerala-based names for smaller Martian features associated with the crater: These names will represent smaller craters and a vallis (valley), creating Martian counterparts of well-known Kerala locations.
Corporate Average Fuel Efficiency (CAFE-III)
Source: BS Context: The third edition of Corporate Average Fuel Efficiency (CAFE-III) norms, set to apply between FY28 and FY32, has reignited debate in the Indian automobile industry. While intended to cut fleet-wide CO₂ emissions and improve fuel efficiency, the draft norms raise questions beyond affordability, touching on urban pollution, public health, safety standards, and market structure. CAFE Norms CAFE-III refers to the third phase of Corporate Average Fuel Efficiency norms for automobiles in India. These norms set fleet-wide fuel efficiency and CO₂ emission standards that vehicle manufacturers must meet. Essentially, it requires manufacturers to ensure that the average fuel efficiency of all vehicles they sell meets a specified target. Key Features
Manufacturing of Sintered Rare Earth Permanent Magnets (REPMs) Scheme
Source: TOI Context: The Union Cabinet has approved a first-of-its-kind scheme to promote the manufacture of Rare Earth Permanent Magnets (REPMs) in India. The scheme aims to enhance self-reliance, reduce import dependence, and position India as a global player in critical magnet supply for strategic industries. Scheme Overview Strategic Importance of REPMs REPMs are critical components with applications in: The scheme will support the entire production value chain, converting:
BHIM Launches Full Delegation Feature on UPI Circle
Source: ET Context: The Bharat Interface for Money (BHIM) app, operated by the National Payments Corporation of India (NPCI), has rolled out a full delegation feature for UPI Circle. The initiative aims to attract new users to India’s real-time payments ecosystem. BHIM UPI Circle UPI Circle Full Delegation allows a primary user to authorize a secondary user to make independent UPI payments from the primary user’s bank account, within predefined limits and timeframes. Purpose Key Features Feature Details Transaction Limit Up to ₹15,000 per month for the secondary user Delegation Period 1 month to 5 years (as decided by the primary user) Account Requirement Secondary user can transact via the primary user’s UPI-linked account Transparency All transactions are visible to the primary user Independent Payments Secondary user can make payments without prior approval for each transaction
Sebi Considers Revising Promoter Definition for IPO-bound Companies
Source: BL Context: The Securities and Exchange Board of India (Sebi) is exploring changes to how promoters are defined in companies planning initial public offerings (IPOs). The move aims to ensure that promoter status reflects actual control and influence, rather than historical association or nominal holdings, reducing investor confusion and improving transparency. Promoter A promoter in an IPO is an individual or entity who: Key Issues Identified Proposed Changes Proposal Details Basis for Promoter Identification Companies to explain the rationale for naming promoters based on actual control and influence, not historical affiliation or shareholding. Disclosure of Beneficial Owners List individuals/entities with ultimate control and clarify why they are not promoters. Indirect Control Check Confirm that informal arrangements or side agreements do not grant unlisted parties control. Reclassification Rules Avoid mechanical application of promoter reclassification rules to IPO-bound firms. Redefinition of Control Align with takeover regulations, focusing on ability to influence policy/management, rather than numerical thresholds (e.g., 15% voting rights).
RBI’s Practical Stance on Family Trusts & Investment Companies
Source: ET Context: Key Provisions Feature Details Trustees Must be family members; professional/external trustees generally not permitted. Control Transfer Ownership/control can be transferred to trusts; RBI approval required for significant change (≥26%). Regulatory Oversight Ensures no hidden or informal control passes to outsiders. Compliance with SEBI Rules For trusts holding listed company shares, SEBI disclosure & open offer norms must be followed. Objective Support succession planning, transparency, and family legacy preservation. Significance
