Source: Mint Context: The Securities and Exchange Board of India (Sebi) plans to meet top executives of asset management companies (AMCs) to discuss a proposal to cap broker fees for executing trades by mutual funds. This is part of Sebi’s broader initiative to overhaul mutual fund costs charged to investors, known as the Total Expense Ratio (TER). Proposed Cap on Broker Fees Total Expense Ratio (TER) Overhaul Total Expense Ratio (TER) The Total Expense Ratio (TER) is the annual fee charged by a mutual fund to manage and operate its scheme. It is expressed as a percentage of the fund’s average assets under management (AUM) and includes all costs related to fund management. Components of TER TER generally includes: TER does not include brokerage or transaction costs for buying and selling securities, which are accounted for separately in fund disclosures.
Payout APIs
Source: ET Context: The Reserve Bank of India (RBI) is investigating a sharp rise in money laundering through bank payout APIs, misused by unregulated Technology Service Providers (TSPs) posing as fintech companies. These entities exploit bulk-payment APIs to transfer large sums without KYC, OTP, or standard checks. What Are Payout APIs? A Payout API (Application Programming Interface) is a software interface provided by banks that allows businesses or authorized entities to automatically send money to multiple recipients in a fast, secure, and scalable manner. Unlike traditional bank transfers where you manually enter details and authenticate each transaction (e.g., using OTPs), a payout API allows bulk transfers programmatically, making it ideal for payroll, vendor payments, or refunds. Key Features Types of Payout APIs
Easebuzz Receives RBI Nod to Operate as Full-Service Payment Aggregator
Source: BS Context: Fintech firm Easebuzz has been authorised by the Reserve Bank of India (RBI) to operate as a full-service payment aggregator (PA), enabling online, offline, and cross-border payment services for merchants across India. What is a Payment Aggregator (PA)? A Payment Aggregator (PA) is a financial entity that facilitates digital payments for merchants by collecting and processing payments from multiple payment instruments (like credit/debit cards, UPI, net banking, wallets) without the merchant having to set up individual arrangements with each bank or payment method. They act as intermediaries between customers, banks, and merchants, simplifying online and offline transactions. Key Features Types of PAs RBI Eligibility Criteria for Payment Aggregators (PAs)
From Gene Modification to Genome Editing: India’s Agricultural Revolution
Source: IE Context: India’s journey in crop biotechnology has been slow with traditional genetically modified (GM) crops, but genome editing (GE) is emerging as a game-changer. While GM crops introduce foreign genes, GE precisely edits a plant’s own genome, offering higher yields, better nutrition, and disease resistance without transgenic concerns. Key Developments: Limited Progress on GM Crops Emergence of Genome Editing (GE) How GE Works Policy and Regulatory Support Target Crops and Genes Domestic Innovation Strategic Significance Genetically Modified (GM) Crops Genome Editing (GE) Key Difference: GM crops usually involve foreign DNA, while genome editing modifies existing DNA with precision.
Government Pushes Integrated Farming for Marginal Farmers
Source: News on Air Context: Agriculture and Farmers’ Welfare Minister Shivraj Singh Chouhan highlighted the government’s focus on promoting integrated farming practices for the benefit of marginal farmers during the Sixth International Agronomy Congress in New Delhi. Key Highlights: Significance:
Daily Current Affairs (DCA) 22 November, 2025
Daily Current Affairs Quiz22 November, 2025 National Affairs 1. Centre Notifies Four New Labour Codes Source: PIB Context: The Central Government has officially notified all four Labour Codes, replacing 29 old labour laws (some from the 1930s–1950s). These Codes are being projected as a big step toward modernising India’s labour market. The Four Labour Codes Key Objectives of the Labour Codes Labour Codes and Key Features (India, 2025) Code on Wages, 2019 Industrial Relations Code, 2020 Code on Social Security, 2020 Occupational Safety, Health & Working Conditions (OSHWC) Code, 2020 Significance 2. Integrated Child Development Services (ICDS) Source: TH Context: India’s ICDS marks 50 years since its 1975 launch, continuing as a key programme for child nutrition, early learning, and maternal health. About ICDS History Aims Key Features Banking/Finance 1. India’s UPI to be Interlinked with Eurosystem’s TIPS for Cross-Border Payments Source: BS Context: The Reserve Bank of India (RBI), NPCI International Payments Ltd. (NIPL), and the European Central Bank (ECB) have agreed to begin the realisation phase of linking India’s Unified Payments Interface (UPI) with the TARGET Instant Payment Settlement (TIPS) system of the Eurozone. Key Highlights: About TARGET Instant Payment Settlement (TIPS) Key Features: 2. SEBI Board to Review Mutual Fund & Stock Broker Regulations Source: TH Context: The Securities and Exchange Board of India (SEBI) will review its mutual fund (MF) and stock broker regulations at its upcoming board meeting on December 17, 2025. Key Focus Areas: Purpose: 3. Credit-Deposit (CD) Ratio Source: BS Context: India’s commercial banks’ credit-deposit (CD) ratio has crossed 80%, a level often viewed as the upper bound of the Reserve Bank of India’s (RBI) comfort zone. CD ratio indicates the proportion of loans extended by banks relative to their deposits. Current CD ratio (fortnight ended October 31, 2025): 80.21%. Historically, 75–80% is considered a comfortable range. About Credit-Deposit (CD) Ratio Purpose/Significance: This ratio helps assess banking sector health and the availability of credit to the economy. Reasons for Rise in CD Ratio Impact of Monetary Policy 4. Insurance Reforms Set to Boost Sector Growth Source: BL Context: The Government has listed the Insurance Laws (Amendment) Bill, 2025 for the Winter Session of Parliament. The bill aims to accelerate growth, deepen insurance penetration, improve ease of doing business, and fulfill the FY26 Budget announcement of raising FDI limit in insurance from 74% to 100%. Key Provisions of the Bill Rationale Agriculture 1. e‑NAM Expansion: Digital Empowerment of Indian Farmers Source: BL Context: The Government of India continues to strengthen e‑NAM (National Agriculture Market), a digital platform connecting APMC mandis nationwide. The expansion aims to provide better price discovery, transparency, and market access to farmers while integrating modern digital agri-services. Key Highlights: e‑NAM (National Agriculture Market) What it is: Key Features: Facts To Remember 1. IAF’s Tejas crashes at Dubai Air Show; pilot dead An Indian Air Force (IAF) Tejas fighter jet crashed during the Dubai Air Show on Friday , claiming the life of the pilot, Wing Commander Namansh Syal. 2. Govt to Launch First Retail Investment in National Highways via InvIT The Union Government will issue national highway (NH) units for retail investors under its first public Infrastructure Investment Trust (InvIT) in February 2026. 3. National One Health Mission Assembly 2025 Concludes in New Delhi The two-day National One Health Mission Assembly 2025 concluded today in New Delhi. 4. India Sees 21% Drop in TB Cases, 25% Fall in Mortality India has achieved a significant decline in both TB incidence and mortality, driven by strengthened surveillance, early detection and expanded treatment coverage. 5. World Television Day Highlights Role of Television in India Today is World Television Day. The Day recognises television as a vital medium in informing, educating, and influencing public opinion, and in fostering communication and global understanding. The day is observed globally on November 21 6. First India-born cheetah gives birth to five cubs at Kuno National Park in Madhya Pradesh First India-born cheetah gives birth to five cubs at Kuno National Park in Madhya Pradesh.
Daily Current Affairs (DCA) 21 November, 2025
Daily Current Affairs Quiz21 November, 2025 National Affairs 1. Assent of the President (for central bills) or the Governor (for state bills) Source: Times of India Context: A five-judge bench led by CJI B.R. Gavai clarified that Article 142 of the Constitution cannot be used to grant ‘deemed assent’ to Bills pending with governors or the President. The bench overruled a previous two-judge bench decision in Tamil Nadu, which had attempted to impose timelines for assent and enforce judicial oversight. Article 142 “The Supreme Court in the exercise of its jurisdiction may pass such decree or make such order as is necessary for doing complete justice in any cause or matter pending before it, and any decree so passed or order so made shall be enforceable throughout the territory of India.” Key Features Consent of a Bill (Presidential Assent) Once a Bill is passed by both Houses of Parliament (or just the State Legislature for state bills), it must receive the assent of the President (for central bills) or the Governor (for state bills) before it becomes law. This is called “assent”. President’s Powers on a Bill (Article 111) The President has four options when a Bill is presented: Governor’s Role on State Bills (Article 200) When a Bill is passed by a State Legislature, the Governor has several options before it becomes law: Key Points 2. Hamara Shauchalaya, Hamara Bhavishya Campaign Source: PIB Launched by: Ministry of Jal Shakti on World Toilet Day 2025 Objective: A national initiative to upgrade and sustain rural sanitation facilities, promote maintenance, and encourage community responsibility in Gram Panchayats. Key Features 3. Geological Survey of India (GSI) Source: News on Air Context: Union Coal Minister G Kishan Reddy will inaugurate the Geological Survey of India’s (GSI) international seminar in Jaipur as part of its year-long commemoration of 175 years of service to the nation. About GSI Established: 1851 Key Functions 4. Second Regional Open Digital Health Summit (RODHS) 2025 Source: PIB Context: The Regional Open Digital Health Summit 2025 (RODHS 2025) got underway in New Delhi on 19 November, bringing together senior government officials, international development organisations, and health technology innovators from across the South-east Asia Region. Host: IndiaLocation: New DelhiDuration: Three daysPartners: WHO-SEARO, UNICEF, and regional governmentsParticipants: Member nations of WHO South-East Asia Region About the Summit Objectives Key Features 5. Coastal Security Exercise ‘Sagar Kavach’ Source: TH Context: The two-day joint coastal security exercise, ‘Sagar Kavach’, to assess the preparedness and alertness of stakeholders involved in coastal security commenced. Location: Tamil Nadu – Cuddalore & Villupuram districtsFrequency: BiannualHost: Indian Coast GuardParticipants: Multi-agency involvement including coastal police, military, paramilitary, and civil agencies Objective Key Features Sports 1. India Wins 20 Medals at World Boxing Cup Finals Source: IE Context: India ended the World Boxing Cup Finals at the Shaheed Vijay Singh Pathik Indoor Stadium with its best-ever medal haul, winning medals in all 20 categories. Total Medals Won Star Performers (Gold Medalists) Gender Boxer Weight Category Opponent Score Women Minakshi Hooda 48 kg Farzona Fozilova (Uzbekistan) 5–0 Women Nikhat Zareen 51 kg Guo Yi Xuan (China) 5–0 Women Preeti Pawar 54 kg Sirine Charrabi (Italy) 5–0 Women Jaismine Lamboria 57 kg Wu Shih Yi (Chinese Taipei) 4–1 Women Parveen Hooda 60 kg Ayaka Taguchi (Japan) 3–2 Women Arundhati Choudhary 70 kg Aziza Zokirova (Uzbekistan) 5–0 Women Nupur Sheoran 80+ kg Oltinoy Sotimboeva (Uzbekistan) 3–2 Men Sachin Siwach 60 kg Munarbek Seiitbek Uulu (World & Olympic medallist) 5–0 Men Hitesh Gulia 70 kg Nurbek Mursal (Kazakhstan) 3–2 Banking/Finance 1. Banks Seek More Flexibility in RBI Acquisition Financing Guidelines Source: FE Context: RBI Acquisition Financing Guidelines To regulate financing of acquisitions by banks and NBFCs in India, ensuring that lending is prudent and does not compromise financial stability. The guidelines cover loan structures, risk assessment, and exposure limits for funding acquisitions of companies or corporate entities. Key Concerns Highlighted by Banks Capital Exposure Limits Minority and Staggered Acquisitions Eligibility Restrictions Profitability & Debt-Equity Requirements Equity Contribution Nuances 2. Digital Gold Source: Mint Context: Digital gold allows investors to buy fractions of physical gold electronically, which is stored in secure, insured vaults. Unlike gold ETFs or EGRs, digital gold currently falls outside the ambit of Sebi and RBI, creating a regulatory vacuum. Investors face counterparty, liquidity, and pricing risks, as oversight on purity, quantity, and vault management is not mandated for all providers. What is Digital Gold? Digital Gold is a financial product that allows investors to buy, sell, and hold gold in an electronic or digital form, without the need to physically store the metal. Ownership is backed by physical gold stored securely by a certified vaulting partner. Recent Developments 3. Sebi Issues Warning Against Unregistered Online Bond Platforms Source: IE Context: The Securities and Exchange Board of India (Sebi) on Wednesday warned the public against dealing with unregistered online bond platform providers (OBPP) as they lack supervisory oversight. Online Bond Platform Providers (OBPPs) Online Bond Platform Providers (OBPPs) are regulated entities that provide an electronic platform for issuance, trading, and settlement of corporate bonds, government securities, and other debt instruments. These platforms aim to enhance transparency, liquidity, and ease of access for retail and institutional investors in the debt market. OBPPs were formalized under SEBI regulations to promote digital bond markets and widen participation. Key Features Online Bond Platform Providers (OBPPs) in India are governed as follows: These regulations provide the framework for: 4. SEBI Moves to Include REITs in Benchmark Indices Source: BS Context: The Securities and Exchange Board of India (SEBI) is taking steps to deepen the integration of infrastructure financing with capital markets. This comes against the backdrop of India’s ambitious National Monetisation Pipeline (NMP) and ongoing reforms to improve liquidity and investor participation in Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). Key Highlights: Real Estate Investment Trusts (REITs) REITs are investment vehicles that own, operate, or finance income-generating real estate. Investors can buy units of a REIT, similar to buying shares in a company, and earn
Government May Widen PMJJBY & PMSBY Coverage
Source: Mint Context: The Centre is considering raising the insurance cover under the flagship schemes: Proposed Changes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) Eligibility: Coverage: Objective: Key Features: Pradhan Mantri Suraksha Bima Yojana (PMSBY) Eligibility: Coverage: Objective: Key Features:
YUVA AI for ALL – National AI Literacy Initiative
Source: PIB Context: The Ministry of Electronics and Information Technology (MeitY), under the IndiaAI Mission, has launched ‘YUVA AI for ALL’, a first-of-its-kind free course that introduces the world of Artificial Intelligence (AI) to all Indians, especially the youth. Launched By: Ministry of Electronics and Information Technology (MeitY), under the IndiaAI Mission Course Overview: Objectives: Key Features / Modules: Significance:
BIRSA 101 Gene Therapy
Source: PIB Launch: India’s first indigenous CRISPR-based gene therapy for Sickle Cell Disease (SCD)Developed By: CSIR–Institute of Genomics & Integrative Biology (IGIB)Industry Partner: Serum Institute of India (SIIPL) – for technology transfer, scale-up, and affordable deploymentNamed After: Birsa Munda, on his 150th birth anniversary Objective How BIRSA 101 Works Key Features
