Daily Current Affairs Quiz
31 October, 2025

National Affairs

1. PM-Poshan

Source: IE

Context

Several Indian states and union territories such as Rajasthan, Kerala, Chhattisgarh, Sikkim, Lakshadweep, Gujarat, and Delhi have proposed expanding the PM-Poshan midday meal scheme to include breakfast for students in government and aided schools.

About PM-Poshan Scheme

• Full Name: Pradhan Mantri Poshan Shakti Nirman (PM POSHAN), earlier known as the Mid-Day Meal Scheme (MDMS).
• Nodal Ministry: Ministry of Education, Government of India.
• Launch: Originally started in 1995, revamped in 2021 as PM-Poshan.
• Objective: To improve nutritional status, school attendance, and learning outcomes of children studying in government and government-aided schools.
• Coverage: Students of Classes I to VIII (ages 6–14 years).

Proposed Expansion

• The proposal for adding breakfast stems from growing recognition of the importance of morning nutrition for children’s cognitive performance and classroom engagement.
• States such as Kerala and Sikkim already implement breakfast programmes from their own budgets, setting successful examples for others.
• The Union government is examining these proposals in light of the National Education Policy (NEP) 2020, which recommends providing nutritious meals including breakfast in schools.

Significance

• Nutritional Impact: Addresses early-morning hunger and ensures better daily nutrient intake among children.
• Educational Benefits: Improves student concentration, attendance, and learning outcomes.
• Equity and Inclusion: Supports children from economically weaker and marginalised communities, reducing classroom hunger disparities.
• Alignment with SDGs: Contributes to SDG 2 (Zero Hunger) and SDG 4 (Quality Education).

2. UNEP Adaptation Gap Report 2025

Source: TH

Context

The United Nations Environment Programme (UNEP) has released its flagship report Adaptation Gap Report 2025, warning that the global finance gap for climate adaptation in developing countries has widened sharply. The report highlights an urgent need for scaling up grant-based and concessional finance to prevent climate vulnerability from turning into a development crisis.

About the Report

• Released by: UNEP–Copenhagen Climate Centre
• Type: Annual global assessment tracking progress on climate adaptation planning, implementation, and financing
• Purpose: To evaluate whether the world—especially developing countries—is adapting fast enough to climate impacts and to quantify the adaptation finance gap.
• Relevance: Serves as an input document for UNFCCC negotiations and the upcoming COP30 in Belém, Brazil.

Key Findings

1. Massive Adaptation Finance Gap

• Developing countries need US$310–365 billion annually by 2035.
• Current adaptation finance stands at only US$26 billion (2023) — 12–14 times lower than the requirement.
• Commitments declined from US$28 billion in 2022, indicating that the Glasgow Climate Pact (COP26) goal of doubling adaptation finance by 2025 will likely be missed.

2. Debt-Heavy Financing

• About 58% of adaptation finance is provided through loans, including non-concessional credit, raising debt concerns for vulnerable nations.

3. Uneven and Outdated Planning

• 172 countries have at least one National Adaptation Plan (NAP), but 36 are outdated.
• Implementation progress is slow, with 1,600 adaptation actions recorded globally, mainly in agriculture, water, and biodiversity, yet few with measurable outcomes.

4. Weak Private Sector Participation

• The private sector contributes just US$5 billion annually, despite having potential to mobilise US$50 billion with appropriate de-risking policies.

5. Baku–Belém Roadmap (2024)

• Envisions US$1.3 trillion per year by 2035 in total climate finance.
• Calls for greater grant-based flows and non-debt instruments to prevent adaptation debt traps.

6. Global Call to Action at COP30

• The report urges a “global collective effort (mutirão global)” under Brazil’s presidency at COP30 to align adaptation goals, transparency mechanisms, and finance commitments.

India’s Position and Relevance

Limitations

• Severe Finance Shortfall: Available funding covers only one-twelfth of the global requirement.
• Debt-heavy Structure: Over half of adaptation funding is loan-based, risking “adaptation debt traps.”
• Low Private Sector Role: Due to high risk and lack of blended-finance frameworks.
• Weak Monitoring Systems: Absence of strong MEL (Monitoring, Evaluation, and Learning) frameworks in most nations.
• Risk of Maladaptation: Poorly designed adaptation projects could inadvertently increase vulnerability.

Way Forward

• Shift to Grant-based Finance: Prioritise concessional and grant flows over loans.
• Mobilise Private Capital: Use public–private partnerships, guarantees, and de-risking mechanisms to attract investors.
• Strengthen Resilience Metrics: Integrate climate risk indicators in banking, insurance, and investment systems.
• Regularly Update NAPs: Ensure alignment with new scientific and local climate data.
• Enhance South–South Cooperation: Promote technology sharing and capacity building via ISA, CDRI, and other platforms.

3. KOYLA SHAKTI Dashboard and CLAMP

Source: PIB

Context

The Union Minister of Coal and Mines, Shri G. Kishan Reddy, launched two major digital platforms — KOYLA SHAKTI Dashboard and Coal Land Acquisition, Management Portal (CLAMP) — marking a significant step towards digitization and transparent governance in India’s coal sector.

Objective:

To enhance efficiency, transparency, and data-driven governance across the coal value chain, aligning with the Government’s vision of Aatmanirbhar Bharat and Minimum Government, Maximum Governance.

KOYLA SHAKTI Dashboard

• A comprehensive digital platform integrating the entire coal value chain — from production and logistics to consumption — on a unified, real-time interface.
• Facilitates real-time coordination between coal companies, railways, ports, and power utilities.
• Promotes data-driven governance and predictive analytics for better demand forecasting and supply chain optimization.

Key Features:

• Unified Visibility: Consolidates data from multiple stakeholders — ministries, PSUs, private miners, ports, and power companies.
• Real-Time Monitoring: Tracks coal production, dispatch, and logistics operations continuously.
• Data-Driven Decision Making: Enables evidence-based policy and operational management.
• Transparency and Accountability: Improves visibility across government and industry partners.
• Operational Efficiency: Reduces manual processes, enhances response time, and minimizes reporting errors.
• Policy Planning & Forecasting: Supports strategic decisions with analytical insights.

CLAMP (Coal Land Acquisition, Management Portal):

• A unified digital platform designed to streamline land acquisition, compensation, and rehabilitation & resettlement (R&R) in coal-bearing areas.
• Functions as a centralized repository of land records, improving coordination among agencies and ensuring time-bound compensation.
• Aims to reduce procedural delays, promote transparency, and ensure equitable outcomes for affected communities.

4. India Backs Afghanistan’s Plan to Build Dam on Kunar River

Source: TOI

Context

Amid escalating tensions between Afghanistan and Pakistan, India has extended support to Afghanistan’s plan to construct a dam on the Kunar River, reinforcing its commitment to the country’s sovereignty, independence, and sustainable water management.

About the Kunar River Dam Project

• Location: The Kunar River originates in Afghanistan and joins the Kabul River, which eventually flows into Pakistan.
• Purpose: The proposed dam aims to boost irrigation, hydropower generation, and drinking water supply in eastern Afghanistan.
• Strategic Importance: The project will reduce Afghanistan’s dependency on downstream water flows into Pakistan, enhancing water security and regional self-reliance.

India’s Role

• India has expressed technical and developmental support for the project under its ongoing cooperation with Afghanistan.
• The move aligns with India’s long-standing policy of supporting infrastructure, capacity building, and energy projects in Afghanistan.
• India views the project as a step toward regional stability and sustainable resource management.

Geopolitical Context

• Pakistan’s Concerns: Islamabad has raised objections, fearing reduced water flow into its territory through the Kabul River basin.
• Afghanistan’s Stand: Kabul asserts its sovereign right to utilize its water resources for domestic development.
• India’s Position: Supports Afghanistan’s right to pursue development projects that ensure equitable and sustainable water use.

Significance

• Hydro-diplomacy: Strengthens India–Afghanistan partnership in regional water resource management.
• Strategic Leverage: Counters Pakistan’s influence in the region.
• Development Impact: Supports Afghanistan’s efforts in achieving energy security, food sustainability, and economic resilience.

5. NITI Aayog’s Employment Report

Source: PIB

Context

A recent NITI Aayog report on employment trends in India’s services sector highlights both its growing role in economic output and its deep structural challenges. While the sector contributes the largest share to India’s GDP and has seen rising employment post-COVID, much of this growth remains informal and insecure.

Key Highlights:

Expanding Role of the Services Sector

• The sector’s share in total employment rose from 26.9% (2011–12) to 29.7% (2023–24).
• It accounts for the largest share of India’s GDP and employs nearly 188 million workers.
• Employment elasticity (the ratio of job growth to output growth) in services increased from 0.35 to 0.63 post-COVID, showing that output growth is leading to some employment generation, though still below parity (less than 1).

Persistent Informality

• 51% of workers in services hold regular wage jobs, while 45% are self-employed.
• When factoring in wage jobs without social security, 69% of services employment is classified as informal.
• Owner-driven and family-based enterprises dominate the services sector, accounting for 82.5% of all enterprises.
• This “informal trap” highlights weak formalisation, low social protection, and limited upward mobility.

Constraints to Formalisation

• For informal enterprises, formalisation brings higher costs (regulatory compliance, taxes) without immediate benefits, reducing their viability.
• For formal enterprises, extending social security raises long-term labour costs and limits flexibility.
• A large pool of low-skilled workers depresses bargaining power, maintaining informality as a stable equilibrium.

Demand-Side Challenges and the Role of Policy

• Expanding domestic demand can make formalisation feasible. Targeted income transfers to lower-income households, especially women, could stimulate consumption and push enterprises towards formality.
• The government could treat social security as a public service, reducing the burden on employers while expanding coverage for workers.
• Financing such programmes may require broadening the income-tax base and rationalising exemptions.

Artificial Intelligence and Future Employment Risks

• AI is projected to displace 40–50% of white-collar jobs, particularly in IT and fintech.
• While demand for AI and data specialists may rise, the net employment effect is likely negative.
• This could push more workers into the informal economy, unless proactive reskilling and upskilling initiatives are implemented.

Policy Recommendations

• Strengthen formalisation frameworks and ensure social security coverage for informal workers.
• Promote demand-led growth through targeted welfare transfers to low-income groups.
• Integrate AI and digital literacy into skilling programmes.
• Support micro and small enterprises with simplified compliance and fiscal incentives.
• Launch the proposed Annual Survey of Service Sector Enterprises for better data-driven policymaking.

Banking and Finance

1. Insurance Sector at Unstable Equilibrium

Source: BS

Context

At a major financial sector summit, senior policymakers and industry leaders discussed the evolving landscape of India’s insurance, pension, banking, and fintech sectors. The event featured key addresses from IRDAI, PFRDA, RBI, and industry executives, covering reforms in FDI, rupee internationalisation, CBDC adoption, and regulatory clarity for digital assets.

Key Focus Areas

• Insurance Sector Reforms:
  • The Insurance Regulatory and Development Authority of India (IRDAI) highlighted ongoing reforms to promote FDI inflows, enhance ease of doing business, and expand micro-insurance coverage.
  • Emphasis was placed on the ‘Insurance for All by 2047’ vision, aimed at improving penetration and inclusivity through technology-led distribution and regulatory simplification.
• Pension and Retirement Planning:
  • The Pension Fund Regulatory and Development Authority (PFRDA) underscored efforts to increase participation in the National Pension System (NPS) and Atal Pension Yojana (APY).
  • Discussions centred on product innovation, portability of pension accounts, and digital interfaces for seamless subscriber experience.
• Banking and Monetary Policy Insights:
  • The Reserve Bank of India (RBI) presented updates on the internationalisation of the rupee, Central Bank Digital Currency (CBDC) trials, and fintech regulations.
  • Deputy Governors noted that greater rupee invoicing in trade and CBDC adoption would reduce transaction costs and support India’s developed economy goal by 2047.
• Fintech and Digital Assets Regulation:
  • Policymakers discussed the need for regulatory clarity on digital assets, including crypto-linked instruments, while maintaining financial stability and consumer protection.
  • Fintech leaders called for a balanced framework encouraging innovation in digital lending, payments, and wealth management.

2. Relief for Investment and Research Advisers on Performance Data Disclosure

Source: TOI

Context

The Securities and Exchange Board of India (SEBI) has granted interim relief to Investment Advisers (IAs) and Research Analysts (RAs), allowing them to share their past performance data with clients until the Past Risk and Return Verification Agency (PaRRVA) becomes operational.

Investment Advisers (IAs)

• Investment Advisers are individuals or firms registered with the Securities and Exchange Board of India (SEBI) who provide personalized financial advice to clients about investments in securities or financial products.
• Regulation:
  Governed by the SEBI (Investment Advisers) Regulations, 2013.
• Role and Functions:
  • Offer advice tailored to the client’s financial goals, risk appetite, and investment horizon.
  • Prepare and share financial plans, asset allocation strategies, and investment recommendations.
  • Must disclose conflicts of interest and avoid product-based commissions (fee-only advisory model).
• Eligibility Criteria:
  • Must have specific qualifications and certifications (such as NISM-Series-X-A & B).
  • Must be registered with SEBI before providing advice.

Research Analysts (RAs)

• Research Analysts are individuals or entities that analyze securities or sectors and publish research reports or recommendations for investors.
• Regulation:
  Governed by the SEBI (Research Analysts) Regulations, 2014.
• Role and Functions:
  • Conduct research and analysis on listed companies, sectors, or financial instruments.
  • Provide investment opinions, price targets, and buy/sell/hold recommendations.
  • Ensure that research is independent, data-driven, and free from conflict of interest.
• Eligibility Criteria:
  • Must have relevant qualifications (finance, commerce, economics, etc.) and NISM certification.
  • Must maintain transparency and record-keeping for published research.

Interim Permission Before PaRRVA Launch

• SEBI has allowed IAs and RAs to share verified past performance records with clients on a one-to-one basis.
• This data must be verified by a Chartered Accountant (CA) or a Chartered Management Accountant (CMA).
• The data can only be shared upon specific client request, not publicly through websites, social media, or advertisements.

Creation of PaRRVA

• In April 2025, SEBI approved a framework to create PaRRVA to standardize and verify the risk and return metrics of IAs and RAs.
• PaRRVA will operate prospectively, meaning it will verify performance after IAs/RAs are onboarded with the agency.
• The system aims to enhance transparency and investor trust, while curbing misleading performance claims.

SEBI’s Conditional Relief

• Advisers sharing past performance data must register with PaRRVA within three months of its launch.
• Failure to enrol within this timeline will bar them from sharing any performance data.
• The shared data must include a disclaimer specifying that it was verified by a CA/CMA and not by PaRRVA.
• Once PaRRVA becomes operational, only PaRRVA-verified data can be used for client communication or advertising.

3. SEBI Tightens Rules for Non-Benchmark Indices like BankNifty and FinNifty

Source: ET

Context

The Securities and Exchange Board of India (SEBI) has introduced new norms for exchanges that list derivative products on non-benchmark indices such as BankNifty, Bankex, and FinNifty, to prevent concentration risk and reduce chances of index manipulation.

Objective of the New Rules

• The move aims to ensure that no single stock dominates an index on which derivatives (futures and options) are traded.
• SEBI’s regulatory intent is to create fair, diversified, and less manipulable indices, following concerns raised in the Jane Street case, where index constituents were allegedly manipulated for derivative trading profits.

Applicability

• Applies to non-benchmark indices (e.g., BankNifty, FinNifty, Bankex) that already have derivative products listed.
• Will also apply to any future non-benchmark indices on which exchanges plan to launch derivative contracts.
• Benchmark indices such as Nifty and Sensex are not covered under these new rules.

New Structural Norms for Non-Benchmark Indices

• Minimum Constituents: At least 14 stocks must be included in the index.
• Top Stock Cap: The largest constituent cannot have more than 20% weight.
• Top Three Cap: The combined weight of the top three constituents must not exceed 45%.
• These measures ensure greater diversification and reduce market manipulation risks.

Implementation Timeline and Glide Path

• Bankex (BSE) and FinNifty (NSE): Must comply by December 31, 2025.
• BankNifty (NSE): Given an extended glide path up to March 31, 2026, to allow orderly rebalancing of assets under management (AUM) tracking the index.
• The transition will be executed in multiple tranches, with adjustments made gradually to meet prudential norms for top constituents.

4. RBI Pushes for Rupee Internationalisation

Source: ET

Context

The Reserve Bank of India (RBI) is accelerating efforts to internationalise the Indian rupee, with growing instances of exporters invoicing cross-border trade in the local currency. Deputy Governor T. Rabi Sankar stated that rupee internationalisation will be a key pillar in India’s journey towards becoming a developed economy.

Rupee Invoicing on the Rise

• Indian exporters have begun invoicing trade in rupees, though the proportion remains small.
• RBI expects a surge in rupee-denominated trade settlements as businesses gradually shift from dollar or euro invoicing.
• Sankar noted that exporters and importers need time to adjust their mindset and practices, but momentum is building.

Economic Rationale

• Advanced economies benefit from invoicing in their own currencies, which reduces exchange-rate risk and enhances business competitiveness.
• By promoting rupee invoicing, India aims to minimise forex risk exposure for domestic businesses and strengthen economic stability.

Strategic Benefits of Rupee Internationalisation

• Reduces India’s dependence on major global currencies like the US dollar.
• Enhances India’s financial sovereignty and cushions the economy from global currency shocks.
• Supports the creation of a more balanced and resilient global financial system, where multiple currencies play an active global role instead of a few dominant ones.

RBI’s Broader Vision

• The central bank views rupee internationalisation as crucial to achieving India’s developed economy goal by 2047.
• It is part of a long-term framework to deepen financial markets, simplify trade settlement, and expand India’s global economic footprint.

Background and Policy Initiatives

• In 2022, RBI allowed international trade settlement in rupees, enabling Indian banks to open Vostro accounts for partner countries.
• Several nations in Asia, Africa, and the Middle East have already shown interest in rupee trade settlement.

Agriculture

1. Govt to Bring Law Against Substandard Pesticides & Seeds

Source: IE

Context

Union Agriculture Minister Shivraj Singh Chouhan announced that the Centre will soon introduce a stringent law targeting the sale of substandard seeds and spurious pesticides. The decision comes amid widespread farmer complaints during the Viksit Krishi Sankalp Abhiyan about poor-quality agricultural inputs leading to crop losses.

Key Proposals & Features

• The future law is expected to be a “Seed Act”, with specific provisions for stringent action against sellers of inferior seeds.
• It will include traceability, certification, and quality control provisions to ensure only certified, high-quality inputs reach farmers.
• The law may also amend existing legislation (such as the Seeds Act) to integrate stricter regulatory measures.
• To operationalise sample testing credibility, NABL (National Accreditation Board for Testing and Calibration Laboratories) accreditation of testing labs is being emphasised.
• New mechanisms will use random sampling (with QR codes and encoded packaging) to reduce bias and manipulation in testing and enforcement.

Rationale & Drivers

• Farmers have reported significant losses due to fake or substandard seeds, fertilizers, and pesticides in multiple states.
• Current regulatory mechanisms (existing acts, sample testing, licensing) have been weak in enforcement, leaving loopholes for spurious manufacturers.
• The new law aims to restore farmers’ trust, safeguard yields and incomes, and prevent exploitation by unscrupulous dealers.

Challenges & Implementation Risks

• Lab Infrastructure Capacity: Many testing labs currently lack NABL accreditation; upgrading them is resource-intensive.
• Effective Enforcement Across States: Agriculture is a concurrent subject; ensuring uniform compliance across states will be challenging.
• Sampling Integrity & Corruption Risks: Even with random selection, there is risk of tampering or manipulation in field-level sampling.
• Cost and Compliance Burden: Stricter regulation may increase costs for legitimate seed companies, potentially passed on to farmers.
• Legal & Institutional Overlap: The new law must align with related laws (Pesticides Act, Fertilizer Control Order, Seeds Act) to avoid regulatory fragmentation.

Significance & Expected Impact

• If effectively implemented, the law could significantly reduce crop losses, soil health damage, and wastage of farmer investments caused by poor-quality inputs.
• It can strengthen input market discipline, disincentivize fraudulent trade, and encourage quality-focused agriculture.
• The move also signals a stronger farmer-centric regulatory approach, showcasing responsiveness to ground-level grievances.
• Over time, it could help India’s agro-input ecosystem by raising standards, fostering innovation, and leveraging accreditation-based trust.

2. APEDA Facilitates First-Ever Air Shipment of GI-Tagged Indi and Puliyankudi Limes to the UK

Context

The Agricultural and Processed Food Products Export Development Authority (APEDA) has facilitated the first-ever air shipment of GI-tagged Indi Lime (Karnataka) and Puliyankudi Lime (Tamil Nadu) to the United Kingdom, marking a milestone in promoting India’s unique horticultural products globally.

About the GI Tag

• A Geographical Indication (GI) is a form of Intellectual Property Right (IPR) that identifies products as originating from a specific region, where their unique qualities or reputation are intrinsically linked to that origin.
• Legal Basis: Registered under the Geographical Indications of Goods (Registration and Protection) Act, 1999.
• Issued By: Geographical Indication Registry, Chennai under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
• Objective: To protect traditional products, ensure authenticity, enhance market value, and provide economic benefits to local producers by preventing misuse of registered names.

About Indi Lime (Karnataka)

• Region: Cultivated mainly in Vijayapura district, Karnataka.
• Distinct Features: Known for its high juice yield, zesty aroma, and balanced acidity.
• Cultural Value: Extensively used in culinary practices, traditional medicine, and cultural rituals, reflecting Karnataka’s agrarian heritage.

About Puliyankudi Lime (Tamil Nadu)

• Region: Grown extensively in Tenkasi district, popularly known as the “Lemon City of Tamil Nadu.”
• Variety: Especially the Kadayam Lime, known for its thin peel, strong acidity, and high juice content (~55%).
• Nutritional Value: Contains 34.3 mg/100g of ascorbic acid, rich in Vitamin C and antioxidants, beneficial for immunity and digestion.
• Recognition: Received its GI tag in April 2025, highlighting its regional uniqueness and superior quality.

Facts To Remember

1. Justice Surya Kant to take over as 53rd Chief Justice of India on November 24

The apppointment of Justice Surya Kant as the 53rd Chief Justice of India (CJI) was notified. He will assume charge on November 24 and will remain CJI for nearly 16 months, till February 9, 2027.

2. Indian boxers’ medal rush continues at Youth Asiad

Indian boxers continued their impressive show at the Youth Asian Games, clinching three gold and one silver medal.

Daily Current Affairs Quiz
1 November, 2025

National Affairs

1. Early Warning System (EWS) for the Himalayas

Context

The Himalayan region is increasingly vulnerable to climate-induced disasters such as floods, landslides, glacial lake outburst floods (GLOFs), and avalanches, prompting scientists to emphasize the urgent need for a robust Early Warning System (EWS) to reduce human and economic losses.

Rising Disaster Trend in the Himalayas

• Between 1900–2022, India faced 687 disasters, with 240 occurring in the Himalayan belt (Down To Earth, 2024).
• Disasters have risen sharply — from only 5 incidents before 1962 to 68 between 2013–2022, accounting for 44% of India’s total disasters.
• NASA data (2007–2017) recorded 1,121 landslide events, indicating increasing instability.
• The Himalayas are warming at 0.15°C–0.60°C per decade, faster than the global average, accelerating snowmelt and flash floods.
• Frequency and intensity of cloudbursts, avalanches, and GLOFs have grown significantly, affecting both mountain communities and downstream river basins.

Importance of Early Warning Systems (EWS)

• Life-saving Mechanism:
  • Early alerts enable timely evacuation, reducing casualties in flood- and landslide-prone zones.
• Disaster Preparedness:
  • Facilitates real-time hazard detection (GLOFs, cloudbursts, avalanches), enabling rapid emergency response.
• Scientific Data Backbone:
  • Builds a data-driven record for risk modeling, improving infrastructure safety and climate adaptation planning.
• Community Resilience:
  • Involving local communities in EWS management enhances awareness, accountability, and swift ground-level action.
• Proven Global Success:
  • International experience from Switzerland and China shows EWS combined with community participation can prevent glacier-related disasters.

Successful Examples of EWS Implementation

• Switzerland: Local coordination and real-time alerts have prevented several glacier-collapse disasters.
• China (Cirenmaco Lake): Satellite-fed EWS with unmanned monitoring boats tracks glacial lake fluctuations.
• India: The Ministry of Environment, Forest and Climate Change (MoEFCC) has funded AI-based hailstorm early warning systems for apple farmers in Himachal Pradesh and Uttarakhand.

Role of Artificial Intelligence and Technology

• AI Models: Process real-time data for predictive warnings with sub-kilometre precision.
• Satellite Integration: Monitors lake levels, glacier shifts, and snowmelt patterns in real time.
• Drone Surveillance: Offers localized risk assessments, though limited by terrain, weather, and cost.
• AI-based Prototypes: Currently under pilot testing in Uttarakhand and Himachal Pradesh for predicting cloudbursts and hailstorms.

Challenges in Establishing EWS in the Himalayas

• Rugged Terrain: Difficulties in installing and maintaining sensors across remote, steep landscapes.
• Poor Connectivity: Limited internet and telecom infrastructure obstructs real-time data transmission.
• High Costs: Lack of affordable, indigenous EWS technology hampers large-scale deployment.
• Fragmented Governance: Overlapping institutional roles lead to delayed coordination and execution.
• Low Community Participation: Without local training and awareness, alerts often fail to trigger timely evacuation.

2. UIDAI launches ‘Aadhaar Vision 2032’ Framework

Source: IE

Context

The Unique Identification Authority of India (UIDAI) has unveiled the ‘Aadhaar Vision 2032’ framework, a ten-year strategic roadmap to upgrade India’s digital identity ecosystem. The framework aims to integrate Artificial Intelligence (AI), Blockchain, Quantum Computing, and Advanced Encryption to make Aadhaar more secure, inclusive, and future-ready.

About ‘Aadhaar Vision 2032’

• A technological and strategic roadmap designed to future-proof India’s digital identity infrastructure.
• It envisions a next-generation Aadhaar ecosystem built on innovation, privacy, and security, ensuring Aadhaar remains the backbone of India’s digital governance and economic architecture.
• Launched by: Unique Identification Authority of India (UIDAI), under the Ministry of Electronics and Information Technology (MeitY).
• Guided by: A High-Level Expert Committee chaired by Shri Neelkanth Mishra, Chairperson, UIDAI.

Objectives of the Framework

• To strengthen Aadhaar’s technological foundation for the next decade.
• To align the Aadhaar ecosystem with the Digital Personal Data Protection (DPDP) Act, 2023 and global cybersecurity standards.
• To ensure resilience, scalability, and transparency in Aadhaar-linked public and financial services.

Key Features of Aadhaar Vision 2032

AI-Enabled Authentication:

• Deployment of Artificial Intelligence (AI) for intelligent identity verification, fraud detection, and anomaly tracking.
• Ensures faster and more reliable authentication for millions of users in real time.

Blockchain Integration:

• Use of Blockchain technology for tamper-proof, transparent, and traceable digital transactions.
• Builds a trust-based data ecosystem, minimizing data manipulation risks.

Quantum-Resilient Security:

• Incorporation of quantum-safe cryptographic techniques to secure Aadhaar against future quantum computing threats.

Advanced Encryption Mechanisms:

• Integration of multi-layered encryption protocols to safeguard data privacy and enhance security compliance with international cybersecurity benchmarks.

Privacy-by-Design Compliance:

• Embeds user consent, data minimization, and control mechanisms in line with the DPDP Act, 2023.
• Prioritizes transparency and accountability in data processing.

Next-Generation Technology Stack:

• Overhaul of UIDAI’s core tech architecture for scalability, interoperability, and innovation.
• Seamless Aadhaar-linked service integration across governance, fintech, and welfare platforms.

3. Kendriya Grihmantri Dakshata Padak

Source: PIB

Context

On October 31, 2025 — the birth anniversary of Sardar Vallabhbhai Patel — the Ministry of Home Affairs (MHA) announced the ‘Kendriya Grihmantri Dakshata Padak’ for 1,466 police personnel from States, Union Territories, Central Armed Police Forces (CAPFs), and Central Police Organisations (CPOs). The award honours excellence, professionalism, and integrity in policing.

About Kendriya Grihmantri Dakshata Padak:

The Kendriya Grihmantri Dakshata Padak is a national-level police award instituted to recognise exceptional professionalism, courage, and integrity in policing and internal security operations.

• Launched by: Ministry of Home Affairs (MHA)
• Instituted on: 1 February 2024
• First Awarded on: 31 October 2024 (Sardar Patel Jayanti)

Objective:

• To promote high professional standards in policing.
• To motivate and honour officers contributing significantly in Special Operations, Investigation, Intelligence, and Forensic Science.

Key Features:

• Annual Recognition: Conferred every year on October 31 to mark Sardar Vallabhbhai Patel’s legacy as India’s first Home Minister.
• Eligible Personnel: Open to members of State/UT Police, CAPFs, CPOs, Intelligence units, and Forensic departments.
• Focus Areas: Operational excellence, investigative proficiency, intelligence acumen, and scientific innovation in policing.
• Selection Process: Recipients are chosen through a rigorous evaluation based on merit, integrity, and contribution to public safety.

4. India to Host Historic Maritime Convergence in February 2026

Source: PIB

Context

India will host a landmark maritime convergence in February 2026 at Visakhapatnam, featuring three major naval events — the International Fleet Review (IFR), Exercise MILAN 2026, and the Indian Ocean Naval Symposium (IONS) Conclave of Chiefs — under the MAHASAGAR vision aimed at promoting collective maritime security and regional cooperation.

About Exercise MILAN 2026

Exercise MILAN is a biennial multilateral naval exercise hosted by the Indian Navy since 1995, designed to strengthen naval diplomacy, interoperability, and regional maritime cooperation.

• Host: Indian Navy
• Edition: 12th
• Venue: Visakhapatnam
• Participants: Over 40 friendly foreign navies from the Indo-Pacific, Africa, Europe, and ASEAN regions.

Aims and Objectives

• To enhance maritime domain awareness, anti-submarine warfare (ASW) readiness, and air defence coordination.
• To promote search-and-rescue preparedness, operational synergy, and a rules-based maritime order.
• To advance India’s MAHASAGAR (Maritime Security, Growth and Resilience) vision.

Key Features of MILAN 2026

• Dual-Phase Format:
  • Includes Harbour Phase (seminars, planning conferences, professional interactions) and Sea Phase (operational drills and tactical manoeuvres).
• Advanced Naval Drills:
  • Focus on ASW, air defence, surface warfare, maritime domain awareness, and search-and-rescue missions.
• International City Parade:
  • A grand parade at RK Beach, Visakhapatnam, featuring contingents from participating navies, the Indian Army, and the Indian Air Force — symbolizing maritime diplomacy and joint force capability.
• Showcase of Indigenous Naval Capability:
  • India will display its INS Vikrant (indigenous aircraft carrier), Visakhapatnam-class destroyers, and Nilgiri-class frigates, highlighting its transformation into a Builder’s Navy.

Banking and Finance

1. RBI Rejects Seven-Year Bond Bids as Yields Touch 6.6%

Source: BS

Context

The Reserve Bank of India (RBI) cancelled the auction for the seven-year government bond after market participants demanded a yield of around 6.6%, a level the central bank found unacceptable.

Key Highlights:

• The government had planned to sell ₹11,000 crore worth of 6.28% 2032 bonds.
• Market participants said accepting such high bids would have sent a negative signal and pushed yields further up.
• Following the RBI’s decision, bond yields softened, with the 10-year benchmark yield settling at 6.53%, down from 6.57% the previous day.
• The seven-year bond, considered relatively illiquid and mainly held by banks, was trading at 6.46%, later easing to 6.43%.

Reasons for Weak Bidding:

• Public sector banks (PSBs) were absent from the auction due to existing mark-to-market (MTM) losses and reluctance to take on more risk.
• Bidding weakened after a technical breakout at 6.56%, prompting cautious sentiment among dealers.
• Banks are not adding new bonds to their Held-to-Maturity (HTM) portfolios following the April 2024 RBI investment portfolio norms, which make reclassification between categories (HTM, AFS, FVTPL) more restrictive.

Revised RBI Framework:

• Portfolios must be classified under HTM, Available-for-Sale (AFS), or Fair Value Through Profit or Loss (FVTPL).
• The Held-for-Trading category has been merged into FVTPL, with daily or quarterly fair valuation required.
• Only 5% of the HTM portfolio can be shifted in a year.

Key Terms

• Held-To-Maturity (HTM): Securities meant to be held until maturity and valued at amortized cost.
• Available-for-Sale (AFS): Securities that can be sold before maturity and are periodically fair-valued.
• Fair Value Through Profit or Loss (FVTPL): Trading or fair-value-managed securities whose gains/losses are reflected in profit or loss.
• Held-for-Trading (HFT): Merged into FVTPL; securities held for short-term profit through active trading.
• Amortized Cost: The original purchase cost adjusted for interest income and repayments over time.
• Fair Value (Mark-to-Market): The current market price of a security used for valuation.
• Other Comprehensive Income (OCI): Accounting category where unrealised AFS gains/losses are recorded outside profit or loss.

2. RBI Launches Three Key Surveys for Monetary Policy

Source: ET

Context

The Reserve Bank of India (RBI) has initiated the next round of three major surveys that provide critical inputs for its monetary policy formulation. These surveys help the central bank assess inflation expectations, consumer confidence, and economic sentiment across urban and rural India.

Key Surveys Launched:

• Inflation Expectations Survey of Households (IESH)
  • Purpose: To capture households’ perceptions and expectations regarding price movements and inflation.
  • Coverage: Conducted across 19 cities in India.
  • Focus: Reflects consumers’ assessment of inflation based on their individual consumption baskets.
  • Relevance: Aids the RBI in understanding inflationary psychology and anchoring inflation expectations.
• Urban Consumer Confidence Survey (CCS)
  • Purpose: To gauge qualitative responses from urban households on their sentiment regarding the general economic situation, employment, income, and spending.
  • Use: Acts as an indicator of consumer sentiment and urban demand trends.
• Rural Consumer Confidence Survey (RCCS)
  • Purpose: To collect data on current perceptions and one-year-ahead expectations of rural households about the economic situation, employment conditions, and income prospects.
  • Objective: Helps track rural consumption patterns and overall rural economic health.

Significance:

• The findings from these surveys are essential for the Monetary Policy Committee (MPC) to assess demand conditions, inflation trends, and consumer sentiment.
• They contribute to evidence-based policymaking, helping the RBI balance growth and inflation objectives.

3. SEBI Probes MCX Over 4-Hour Trading Disruption

Source: TOI

Context

The Securities and Exchange Board of India (SEBI) has launched an investigation into the four-and-a-half-hour trading disruption at the Multi Commodity Exchange (MCX) on October 28, 2025, which delayed trading from its regular start time of 9 a.m. to 1:25 p.m. The probe aims to determine whether the incident resulted from system deficiencies, which could attract monetary penalties under SEBI’s framework for market infrastructure institutions (MIIs).

Key Highlights:

• Nature of the Incident:
  • MCX experienced a major technical glitch on October 28 that halted trading for over four hours.
  • The issue was traced to a “parameter limit relating to reference data like Unique Client Code (UCC)”, which exceeded preset system thresholds.
  • The exchange said it has since rectified the issue to prevent recurrence.

MCX (Multi Commodity Exchange of India Ltd)

MCX (Multi Commodity Exchange of India Ltd) is India’s largest commodities derivatives exchange, where participants trade futures contracts in commodities like gold, silver, crude oil, natural gas, agricultural products, and base metals.

Key Points:

• Type: Commodity futures exchange
• Founded: 2003
• Headquarters: Mumbai, India
• Objective: Provide a transparent, regulated platform for price discovery and risk management in commodity markets
• Products: Futures and options contracts in metals, energy, and agricultural commodities
• Regulator: SEBI (Securities and Exchange Board of India)

Agriculture

1. SBI Foundation Launches SMART-CROP Project

Source: BL

Context

The SBI Foundation, the Corporate Social Responsibility (CSR) arm of the State Bank of India (SBI), has launched the SMART-CROP Project — Sustainable Monitoring and Real-time Tracking for Crop Resilience and Optimal Practices — to enhance climate resilience, productivity, and sustainability among smallholder farmers.

Launch Details:

• Event Venue: Hyderabad
• Participants: Farmers from project locations (both in-person and virtual participation)
• Supported Under: SBI Foundation’s LEAP Programme (Livelihood and Entrepreneurship Accelerator Programme)
• Duration: 3 years

Implementing Partners:

• University of Agricultural Sciences (UAS), Raichur
• International Crops Research Institute for the Semi-Arid Tropics (ICRISAT)
• Agribridge

Coverage and Beneficiaries:

• States Covered: Karnataka (Bidar, Kalaburagi, Raichur) and Telangana (Sangareddy, Vikarabad)
• Beneficiaries: Over 8,000 smallholder farmers

Key Highlights:

• Technology Integration:
  • Use of satellite imaging, remote sensing, and AI/ML analytics for real-time crop stress monitoring.
  • Enables early detection of climate risks, pest/disease outbreaks, and soil degradation.
• Focus Crops: Chickpea and pigeonpea (pulse crops)
• Digital Inclusion: Farmers will receive actionable insights through data-driven platforms to improve decision-making and adopt climate-smart practices.
• Research Component: Socio-economic assessments will study yield gaps, impact of early detection tools, and agroecological benefits.

2. Marine Fisheries Census 2025

Source: PIB

Context

The Government of India has launched the Marine Fisheries Census (MFC) 2025, marking the country’s first fully digital and geo-referenced enumeration of marine fishing communities, aimed at improving evidence-based planning and welfare delivery.

Conducting Agencies:

• Funding: Department of Fisheries, Government of India
• Implementation: ICAR–Central Marine Fisheries Research Institute (CMFRI)
• Operational Support: Fishery Survey of India (FSI)

Objectives:

• Create a real-time, comprehensive database of marine fisher households, crafts, gears, and infrastructure.
• Capture socio-economic indicators, including income, insurance, debt, and benefits from schemes like PMMSY and PM-MKSSY.
• Support sustainable fisheries management and policy interventions.

Key Features:

• Fully Digital & Paperless: Covers ~1.2 million households across 5,000 marine villages in 13 coastal states and UTs.
• Drone-Based Enumeration: Ensures accuracy in counting fishing crafts during trawl ban periods.
• VYAS App Ecosystem:
  • VYAS–NAV: Validates fishing villages and harbours
  • VYAS–BHARAT: Household and infrastructure enumeration
  • VYAS–SUTRA: Real-time supervision and monitoring
• Geo-Referenced Data & Multilingual Interface: Ensures precision, inclusivity, and accountability.
• Real-Time Dashboards: Enable live tracking and data analytics for administrators.

Facts To Remember

1. Government Launches Employee’s Enrolment Scheme 2025 to Expand EPF Coverage

Labour and Employment Minister Dr. Mansukh Mandaviya today launched the Employee's Enrolment Scheme 2025.

2. President Droupadi Murmu to Begin Three-Day Visit to Uttarakhand from Tomorrow

President Droupadi Murmu will be on a three day visit to Uttarakhand from tomorrow.

3. Union Minister Dr. Jitendra Singh Calls for Transparent and Impactful Government Communication

Union Minister for Personnel, Public Grievances and Pensions Dr Jitendra Singh said that effective communication is not just about information dissemination but about building trust, creating awareness, and inspiring participation among citizens.

4. 67th Akashvani Sangeet Sammelan to Begin Tomorrow Across 24 Centres Nationwide

Prasar Bharati, in collaboration with Culture Ministry, will hold the 67th edition of Akashvani Sangeet Sammelan from tomorrow till the 29th of this month across 24 centres nationwide.

5. Union Minister Scindia Inaugurates Sohra Tourism Circuit Project Under PM-DevINE Scheme

Union Minister for Development of North Eastern Region (DoNER) and Minister of Communications Jyotiraditya M. Scindia, along with Meghalaya Chief Minister Conrad K. Sangma, laid the foundation stone for the Integrated Development of the Sohra Tourism Circuit in Sohra

6. I&B Secretary Sanjay Jaju Inaugurates WAVES Bazaar at IndiaJoy 2025 in Hyderabad

Information and Broadcasting Secretary Sanjay Jaju inaugurated the WAVES bazaar at the ongoing IndiaJoy 2025 conclave in Hyderabad today. Speaking on the occasion, I&B Secretary Jaju said, Waves bazaar is expected to benefit the entire gamut of media and entertainment Industry.

7. Civil Aviation Minister Rammohan Naidu Inaugurates Crèche Facility At Udaan Bhawan In New Delhi

Civil Aviation Minister Rammohan Naidu inaugurated a crèche facility at Udaan Bhawan in New Delhi.

8. Aviation Corps Of Indian Army Celebrates 40th Raising Day

The Aviation Corps of the Indian Army is celebrating its 40th Raising Day today.

Daily Current Affairs Quiz
2&3 November, 2025

National Affairs

1. Government Launches Employee’s Enrolment Scheme 2025

Source: Mint

Context

The Ministry of Labour and Employment has launched the Employee’s Enrolment Scheme 2025 under the Employees’ Provident Fund Organisation (EPFO). The scheme provides a one-time opportunity for employers to voluntarily enrol eligible employees who were previously left out of EPF coverage.

About the Scheme:

• Objective:
  • Extend social security coverage to all eligible employees under the EPF Act, 1952.
  • Encourage voluntary compliance by employers and build trust between businesses and regulators.
  • Promote formalisation of the workforce and ensure financial protection for unregistered employees.
• Operational Period:
  • Six months: 1 November 2025 to 30 April 2026.
• Eligibility:
  • Employees employed between 1 July 2017 and 31 October 2025 who were not previously covered under EPF.
• Key Features:
  • Employers can enrol eligible employees voluntarily.
  • Employee’s contribution waiver if it was not deducted earlier.
  • Employer’s share plus a nominal ₹100 penalty required for compliance.
  • Applicable even to establishments under inquiry under Section 7A or Paragraph 26B of the EPF Act.
  • EPFO will not take suo motu action for past omissions once voluntary compliance is made.

2. Real-Time e-DAR System

Source: IE

Context

The Ministry of Road Transport and Highways (MoRTH) will release black spot data for 2023 and 2024 using the Electronic Detailed Accident Report (e-DAR)/Integrated Road Accident Database (iRAD) system to improve road safety planning.

About the System:

• e-DAR/iRAD: Captures real-time accident data via an app used by first responders (police), with geo-tagging of incidents.
• Black Spot Definition: A 500-metre stretch on National Highways is considered a black spot if there are ≥5 accidents with fatalities or grievous injuries, or 10 deaths in 3 years.

Significance:

• Enables data-driven road safety measures.
• Helps authorities plan targeted interventions to prevent accidents and fatalities.
• Improves alignment between state police reporting and central database, reducing discrepancies in accident statistics.

3. India Achieves Historic Medal Tally at Asian Youth Games 2025

Source: News on Air

Context

The Prime Minister of India congratulated Indian athletes for their record-breaking performance at the Asian Youth Games (AYG) 2025, held in Manama, Bahrain, from 22–31 October 2025. India secured 48 medals, marking its best-ever medal tally in the history of the Games.

About the Asian Youth Games:

• A continental multi-sport event organised by the Olympic Council of Asia (OCA) for athletes aged 14–17 years, aimed at nurturing young sporting talent in Asia.
• Origin: First held in Singapore (2009) as a feeder event for the Asian Games.
• History:
  • 1st Edition: 2009, Singapore
  • 2nd Edition: 2013, Nanjing, China
  • 2017 & 2021 editions cancelled; 2025 edition in Bahrain marks the third edition after a 12-year gap.
• India’s Performance (Bahrain 2025):
  • Medal Tally: 48 medals (13 Gold, 18 Silver, 17 Bronze)

4. Kerala Declared Free from Extreme Poverty on Kerala Piravi Day

Source: TH

Context

On Kerala Piravi Day, the Chief Minister of Kerala announced that the state has been declared free from extreme poverty, marking India’s first state-level success in achieving this milestone. The achievement comes after the successful implementation of the four-year Extreme Poverty Eradication Programme (EPEP).

Understanding Extreme Poverty:

• As per the World Bank (2025 revision), individuals living on less than $3 per day (2021 PPP) are classified under extreme poverty.
• Kerala’s Local Criteria: Kerala adopted four indicators for identifying extreme poverty:
  1. Food insecurity
  2. Poor access to healthcare
  3. Lack of housing
  4. Absence of stable income
• The state’s approach emphasized human deprivation rather than just income metrics, differentiating it from the World Bank or NITI Aayog’s Multidimensional Poverty Index (MPI).

Implementation Measures:

• Comprehensive Identification:
  • Extensive surveys conducted by local bodies with support from 4 lakh trained officials and volunteers.
  • Initially, ~1.18 lakh families were identified; post-verification, 59,000 families were confirmed as extremely poor.
• Household-Level Micro-Plans:
  • Tailored interventions addressing gaps in food, shelter, health, and education.
• Food and Nutrition Security:
  • Over 20,600 families received regular meals through Kudumbashree community kitchens.
• Housing Initiatives:
  • 4,005 out of 4,677 homeless families were provided homes under the LIFE Mission scheme.
• Rights and Civic Access:
  • Avakasam Athivegam (Rights Fast) ensured all identified families received civic documents, pensions, electricity, and LPG connections.

5. UNESCO ‘Creative City of Gastronomy’

Source: TH

Context

Lucknow has officially been declared a UNESCO ‘Creative City of Gastronomy’ during the 43rd Session of the UNESCO General Conference, currently under way in Uzbekistan.

About UCCN:

• Established: 2004 by UNESCO to encourage international cooperation among cities investing in culture and creativity.
• Objective: Foster cultural innovation, sustainable urban growth, and support the Sustainable Development Goals (SDGs), particularly Goal 11: Sustainable Cities and Communities.

Key Features:

• Encompasses 350+ cities worldwide across 7 creative fields: Gastronomy, Literature, Music, Film, Design, Crafts & Folk Arts, and Media Arts.
• Encourages cultural exchange, knowledge sharing, and capacity-building among cities.
• Supports creative economy growth, sustainable tourism, and inclusive urban planning.
• Protects intangible cultural heritage while aligning with UNESCO’s global cultural agenda.
• Cities commit to collaborative international projects and periodic progress reporting to maintain their designation.

Indian Cities Recognized under UCCN:

6. ISRO Launches India’s Heaviest Communication Satellite CMS-03 (GSAT-7R)

Source: TOI

Context

The Indian Space Research Organisation (ISRO) successfully launched CMS-03 (GSAT-7R), India’s heaviest communication satellite to date, aboard the LVM3-M5 rocket from Sriharikota, strengthening India’s strategic and high-throughput communication capabilities.

About CMS-03 (GSAT-7R):

• Type: Next-generation multi-band communication satellite.
• Purpose: Provide secure, high-capacity communication links for government, defence, maritime, and disaster management operations.
• Payload: Multi-band coverage including C, Ku, and Ka bands for versatile applications.
• Coverage: Indian mainland and wide oceanic regions, supporting maritime connectivity.
• Mission Life: 15 years with high-throughput transponders for broadband and satellite internet services.
• Significance: Replaces ageing GSAT-7 series, integrating advanced technology for secure defence communications and potential 5G applications.

About LVM3-M5 Launch Vehicle:

• Type: Launch Vehicle Mark-III (LVM3), nicknamed “Baahubali”.
• Purpose: Heavy-lift rocket capable of placing 4-tonne satellites into Geosynchronous Transfer Orbit (GTO).
• Configuration: Three-stage rocket — two S200 solid boosters, one L110 liquid stage, and C25 cryogenic upper stage.
• Track Record: Eight consecutive successful missions, including Chandrayaan-3 (2023), establishing it as India’s heavy-lift workhorse and a future launcher for Gaganyaan crewed missions.

7. India Wins Maiden ICC Women’s Cricket World Cup 2025

Context

India created history by winning its first ICC Women’s Cricket World Cup, defeating South Africa by 52 runs in the final held at Dr. DY Patil Stadium, Navi Mumbai. The victory marks a major milestone in Indian women’s cricket, showcasing the rising strength of the sport in the country.

About ICC Women’s Cricket World Cup:

• Organizer: International Cricket Council (ICC)
• Format: One Day International (ODI), 50 overs per team
• Origin: First held in 1973 in England, organized by the International Women’s Cricket Council until 2005

About Tournament

Banking and Finance

1. India’s Household Debt Growing Faster than Assets: RBI Data 2024–25

Source: TH

Context

Recent data from the Reserve Bank of India (RBI) indicate that Indian households are accumulating debt at a pace significantly higher than the growth of financial assets. This trend points to changing consumption patterns, rising leverage, and evolving financial behaviour among households.

Key Highlights:

• Asset Growth Lagging Behind Liabilities:
  • Household financial assets increased from ₹24.1 lakh crore in 2019–20 to ₹35.6 lakh crore in 2024–25, a 48% rise.
• Impact on GDP Share:
  • Assets as a percentage of GDP declined from 12% to 10.8%.
  • Liabilities as a percentage of GDP rose from 3.9% to 4.7%.
  • Household debt peaked at 6.2% of GDP in 2023–24 but moderated slightly in 2024–25, signaling tentative financial stabilization.
• Changing Savings Behaviour:
  • Traditional bank deposits continue to dominate household savings.
  • There is a noticeable shift toward mutual funds and market-linked instruments, reflecting growing financial literacy and diversification of investment portfolios.

Key Findings

• Faster Growth in Liabilities:
  • Household annual financial liabilities have increased by 102% between 2019–20 and 2024–25.
• Slower Growth in Assets:
  • In the same period, annual financial asset addition grew only by 48%.
• Decline in Asset-to-GDP Ratio:
  • As a share of GDP, the annual financial asset addition in FY25 is lower than in the pre-pandemic year, indicating slower asset accumulation relative to economic growth.
• Rise in Debt-to-GDP Ratio:
  • The annual liabilities added as a percentage of GDP are higher than before 2020, suggesting increased household leverage and dependence on credit.

Underlying Factors

• Post-pandemic consumption recovery driven by credit spending, particularly through personal and housing loans.
• Inflationary pressures leading households to borrow more to maintain living standards.
• Stagnant income growth amid rising costs, resulting in higher net indebtedness.
• Shift in financial behavior: Preference for short-term credit and digital lending, while savings in bank deposits and small schemes grew slower.

Implications

• Macroeconomic concern: Rapid household debt expansion could pose financial stability risks if not accompanied by proportional income and asset growth.
• Policy perspective: RBI and the government may need to monitor retail credit quality and household leverage trends closely.
• Economic signal: The data reflects uneven post-pandemic recovery, with consumption rebounding through borrowing rather than income-led growth.

Implications for the Economy:

• Reduced Savings Rate: A slower growth in household assets may limit domestic capital formation.
• Higher Financial Vulnerability: Rising debt increases household exposure to interest rate fluctuations and income shocks.
• Market Risk Exposure: While participation in market-linked instruments reflects sophistication, it also exposes households to volatility and potential market losses.

2. RBI May Rethink Banks’ Exposure to ‘Sensitive Sectors’ to Enable M&A Financing

Source: BS

Context

The Reserve Bank of India (RBI) is considering a review of banks’ exposure limits to ‘sensitive sectors’ — capital markets, real estate, and commodities — to pave the way for permitting them to finance mergers and acquisitions (M&As) in India.

About Sensitive Sectors

• As per RBI, sensitive sectors include capital markets, real estate, and commodities — areas prone to asset price volatility and systemic risk.
• Exposure Limit: Banks’ exposure to these sectors in a financial year is capped at 5% of total deposits at the end of the previous financial year.
• Current Exposure:
  • FY24 exposure stood at ₹46.62 trillion, accounting for 27.2% of total loans and advances — up 34.1% year-on-year.
  • Within this, capital market exposure was ₹2.43 trillion (1.4%), up 31.3% over FY23.

Existing Restrictions

• Banks are not permitted to directly finance M&A transactions.
• NBFCs, however, are allowed to fund M&As and often source such credit from banks — creating an indirect exposure.
• Foreign banks can finance M&As through their offshore offices.
• Under the Insolvency and Bankruptcy Code (IBC), 2016, banks can fund acquisitions via CIRP, but only for repayment of lenders, not share purchases.

Regulatory Developments

• The RBI’s draft framework on Capital Market Exposure (CME) (released last week) proposes that:
  • A bank’s aggregate CME should not exceed 40% of its Tier-1 capital (solo basis).
  • On a consolidated basis, the limit remains 40% of consolidated Tier-1 capital.
• The draft does not explicitly address exposure to sensitive sectors, though bankers believe it will influence future reforms.

Banking Sector Concerns

• Senior bankers argue that the 5% exposure ceiling could hinder M&A financing, as such deals typically require large credit commitments.
• Even expanding the capital markets sub-limit within sensitive sectors may prove insufficient for major acquisition financing.

Significance

• A review of exposure norms could enhance credit flow for corporate restructuring and stimulate investment activity.
• Aligns with efforts to liberalize banking participation in strategic financing while maintaining prudential safeguards.
• Would help level the field with NBFCs and foreign banks, promoting efficient capital formation in India.

Agriculture

1. Urea and Nano Urea in India

Source: IE

Context

India’s urea consumption is set to touch 40 million tonnes (mt) in the current fiscal, due to surplus monsoon-induced demand and also the maximum retail price (MRP) of the nitrogenous fertiliser remaining unchanged for over a decade.

About Urea

• Chemical composition: CO(NH₂)₂ – a nitrogen-rich compound containing 46% nitrogen, making it the most concentrated solid nitrogen fertiliser.
• Purpose: Supplies nitrogen to plants for vegetative growth and chlorophyll formation.
• Form: White crystalline substance, highly soluble in water.

Production and Consumption in India:

• India is the second-largest consumer and third-largest producer of urea globally.
• Annual consumption exceeds 35 million tonnes, while domestic production hovers around 26–28 million tonnes, creating a supply gap met through imports.
• Key producers: IFFCO, NFL, RCF, CFCL, KRIBHCO, and new units under the revival of closed fertiliser plants (e.g., Gorakhpur, Sindri, Ramagundam).

About Nano Urea

• Nano Urea is a liquid fertiliser containing nano-sized nitrogen particles (20–50 nanometres) developed by Indian Farmers Fertiliser Cooperative (IFFCO).
• Each 500 ml bottle is equivalent to one 45-kg bag of conventional urea.

Key Features and Benefits:

• Higher efficiency: Delivers nitrogen directly to plant leaves, reducing losses due to leaching or volatilisation.
• Cost-effective: Reduces farmers’ fertiliser expenses by up to 10–15%.
• Eco-friendly: Cuts nitrogen run-off and greenhouse gas emissions.
• Import substitution: Reduces dependence on imported urea, saving foreign exchange.
• Ease of use: Can be sprayed on crops during growth stages using drones or sprayers.

2. Agroforestry Model Offers Sustainable Farming Path

Source: BL

Context

Smallholder farmers in India face rising climate risks, shrinking landholdings, and market volatility. The Western Ghat Agroforestry Lab has developed a model demonstrating how diversified agroforestry systems can enhance both income and ecological resilience.

Key Highlights:

• Tiered Income Approach:
  • Short-term crops: Ragi, maize, sweet potato, and groundnut provide ₹45,000–55,000 annually.
  • Livestock integration: Two buffaloes and two goats contribute ₹40,000–50,000 annually from milk, manure, and meat.
  • Medium-term trees: Fruit trees (mango, cashew, coconut) yield ₹80,000–90,000 annually after 3–5 years.
  • Long-term timber: Teak and rosewood harvested after ~15 years generate ₹5–12 lakh, serving as “biological savings.”
• Ecological Benefits:
  • Improved soil structure, organic carbon, and water retention.
  • Supports biodiversity and reduces chemical input through mulching, contour planting, and organic nutrient cycles.
  • Potential additional income from carbon credit markets.
• Scalability & Adaptation:
  • Suitable for high-rainfall regions like Western Ghats and Konkan.
  • Can be adapted to drier zones with drought-tolerant species.
  • Institutional support needed for credit access, training, market linkages, and timber transport regulations.

Facts To Remember

1. Nagaland to Host Senior Women’s Inter-Zonal T20 Trophy for the First Time from November 4

The Nagaland Cricket Association (NCA), under the aegis of the Board of Control for Cricket in India (BCCI), is all set to host the Senior Women’s Inter-Zonal T20 Trophy from November 4 to 14.

2. ADIPEC 2025 Opens in Abu Dhabi with Over 205,000 Participants; India Showcases Strong Energy Presence

The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2025 opened today at the Abu Dhabi National Exhibition Centre (ADNEC), drawing over 205,000 participants from 172 countries.

3. NITI Aayog Launches “Reimagining Agriculture” Roadmap in Gandhinagar to Boost Agri-Tech Innovation

NITI Aayog's Frontier Tech Hub today unveiled a major roadmap titled “Reimagining Agriculture: A Roadmap for Frontier Technology Led Transformation” in Gandhinagar.

4. Union Government Releases Over ₹444 Crore to Strengthen Rural Local Bodies in Odisha

The Union Government has released over 444 crore rupees under the 15th Finance Commission Grants to Rural Local Bodies for Odisha.

5. PM Modi Inaugurates Emerging Science & Technology Innovation Conclave 2025

Prime Minister Narendra Modi today asserted that the country is no longer just a consumer of technology, but it has now become a pioneer of technological transformation.

Daily Current Affairs Quiz
4 November, 2025

National Affairs

1. Sagarmala 2.0

Source: Mint

Context

The Indian government is revamping the Sagarmala initiative into a 10-year, ₹75,000-crore programme— Sagarmala 2.0 to position India as a global maritime hub. The move aligns with the government’s broader maritime development strategy and complements the recently announced ₹70,000-crore maritime package.

Objectives of Sagarmala 2.0:

• Port Modernization: Upgrading existing ports to world-class standards to improve efficiency and global competitiveness.
• Shipbuilding & Repairs: Enhancing domestic shipbuilding, repair, and recycling infrastructure, promoting domestic ship ownership.
• Inland Waterways & Coastal Development: Extending financial support to state governments for developing inland waterways and coastal regions.
• Investment Mobilization: Leverage an estimated ₹20 trillion in investments over the next decade.
• Project Coverage: Expected to support more projects than Phase 1, which had over 800 projects.

Financial Details:

• Initial budgetary support was ₹40,000 crore, now proposed to be scaled up to ₹75,000 crore.
• Complementary programmes under the ₹70,000-crore package include:
  • Maritime Development Fund (MDF): ₹25,000 crore
  • Shipbuilding Financial Assistance Scheme (SBFA): ₹20,000 crore
  • Shipping Cluster Development Programme: ₹20,000 crore

About Sagarmala Initiative:

Launch & Objective

• Launched in 2015 by the Government of India.
• Aims to modernize India’s ports, enhance coastal shipping, and promote port-led industrialization.
• Focuses on leveraging India’s 7,500 km coastline and 14,500 km of navigable waterways to boost trade and logistics efficiency.

Key Goals

• Port Modernisation: Upgrade and mechanize major and minor ports to handle larger cargo efficiently.
• Port Connectivity: Develop rail, road, and inland waterway connections to ports, reducing logistics costs.
• Port-Led Industrialization: Establish coastal economic zones (CEZs) and industrial clusters near ports to attract investment.
• Coastal Community Development: Generate employment and improve livelihoods in coastal areas.
• Enhancing Exports: Improve turnaround time and reduce costs to make Indian exports globally competitive.

Implementation Pillars

• Infrastructure Modernization: Deepening, mechanization, and automation of ports.
• Connectivity Projects: Roads, rail links, and multimodal logistics parks connecting hinterlands to ports.
• Coastal Economic Development: Industrial corridors and SEZs near ports to encourage manufacturing and trade.
• Skill Development & Employment: Training programs for maritime and logistics sectors.

2. Cauvery River Heavy Metal Contamination Study

Context

High levels of heavy metals, particularly cadmium (Cd) and lead (Pb), were detected in fish from the Cauvery River. Regular or excessive consumption of contaminated fish may pose carcinogenic and non-carcinogenic health risks to humans, affecting neurological and renal health.

About the Cauvery River

• Significance: One of South India’s most sacred rivers, called the “Dakshina Ganga.”
• Origin: Brahmagiri Hills, Western Ghats, Karnataka.
• Length & Flow: 765 km southeast through Karnataka and Tamil Nadu; forms fertile plains and several waterfalls.
• Tributaries: Kabini, Hemavati, Noyil, Amaravati, Bhavani.
• Mouth: Bay of Bengal south of Cuddalore, forming the Cauvery Delta, known as the “Garden of Southern India.”
• Major Dams: Krishnaraja Sagar, Mettur, and Grand Anicut (2nd century AD).

About Heavy Metals

• Definition: Metallic elements with high atomic weight and density, toxic when accumulated in organisms.
• Common Examples: Lead (Pb), Cadmium (Cd), Chromium (Cr), Mercury (Hg), Copper (Cu).
• Sources in Cauvery: Industrial effluents (textiles, electroplating), agricultural runoff, untreated urban sewage.

Key Findings of the Study

• Metals Analyzed: Chromium (Cr), Cadmium (Cd), Copper (Cu), Lead (Pb), Zinc (Zn).
• Primary Contaminants: Cadmium and lead exceeded safety thresholds in several fish species.
• Variation: Levels differed across sites and fish species, indicating combined natural and human-induced sources.
• Health Risks: Long-term exposure may cause:
  • Neurological disorders
  • Kidney damage
  • Carcinogenic effects

3. Pampadum Shola National Park

Context

Pampadum Shola in Kerala has become a model of ecological restoration, successfully removing invasive Australian wattle trees (Acacia mearnsii) and reviving native grasslands and biodiversity.

About Pampadum Shola National Park

• Type & Size: Smallest national park in Kerala, covering 1,300 hectares.
• Location: Upper Devikulam taluk, Idukki district, Kerala; near the Kerala–Tamil Nadu border close to Kodaikanal.
• Ecosystem: Part of the shola–grassland mosaic, high-altitude ecosystem of the southern Western Ghats (UNESCO World Heritage site under consideration).
• Hydrological Importance: Source of Pambar and Vaigai rivers, crucial for downstream Tamil Nadu plains.
• Biodiversity Highlights:
  • Fauna: Nilgiri marten, Kerala laughing thrush, black-and-orange flycatcher
  • Flora: Endemic orchids and ferns
• Grasslands Role: Act as natural aquifers, storing monsoon water and maintaining perennial stream flows.

About Australian Wattle (Acacia mearnsii)

• Origin: Southeastern Australia; nitrogen-fixing, fast-growing species.
• Introduction in India: Early 1900s by the British for tannin, fuelwood, and afforestation; widely planted in Western Ghats during 1960s–70s.
• Ecological Impacts:
  • Forms dense canopies, suppressing native flora
  • Reduces soil porosity, affecting water retention and biodiversity
• Hydrological Effects: Deep roots deplete aquifers, converting perennial streams into seasonal flows.
• Fire Hazard: Highly flammable; contributed to 2015 Pampadum fire.

Banking and Finance

1. RBI’s Short Dollar Forward Position Rises

Source: BS

Context

The Reserve Bank of India’s (RBI) short dollar forward position rose for the first time in seven months, signalling active intervention to stabilise the rupee amid sustained depreciation pressure in October 2025.

What is a Short Dollar Forward Position?

A short dollar forward position refers to a situation where the Reserve Bank of India (RBI) (or any central bank) has sold U.S. dollars for future delivery through forward contracts in the foreign exchange market.

In simple terms, it means the RBI has committed to sell dollars later — usually to support the rupee and stabilise the exchange rate — while possibly buying rupees in the present.

Mechanism:

• When the rupee faces depreciation pressure, RBI may sell dollars in the spot market (immediate delivery) to provide dollar supply and prevent sharp weakening.
• To rebuild its reserves or balance liquidity, RBI simultaneously buys dollars in the forward market — creating a short position in forwards (i.e., it owes dollars in the future).

So, a rise in the RBI’s short dollar forward position indicates:

• The RBI is actively intervening to defend the rupee.
• It is using forward contracts rather than heavy spot interventions to avoid visible reserve depletion.

Impact on Economy:

• Exchange Rate Stability: Smoothens volatility in the rupee–dollar rate.
• Liquidity Management: Prevents excess rupee liquidity that would arise from spot market interventions.
• Reserve Management: Keeps headline forex reserves steady, even when RBI supports the rupee.

2. SEBI Amends Mutual Fund Rules to Classify REITs as Equity

Context

The Securities and Exchange Board of India (SEBI) has revised mutual fund regulations to explicitly classify units of Real Estate Investment Trusts (REITs) as equity instruments. This change allows fund houses to include REIT units in their equity portfolios under specified limits.

Key Highlights:

• Permissible Investment: Mutual funds can now invest up to 10% of a scheme’s corpus in units of a single REIT issuer.
• Approval: The SEBI board approved the amendment at its September 2025 meeting.
• Objective: To provide clarity on the treatment of REIT units in mutual funds and facilitate diversified exposure to real estate within equity schemes.

About Real Estate Investment Trusts (REITs)

A Real Estate Investment Trust (REIT) is a collective investment vehicle that pools money from investors to own, operate, or finance income-generating real estate assets such as office buildings, malls, hotels, and warehouses.
REITs function similar to mutual funds — but instead of investing in stocks or bonds, they invest in real estate properties.

Regulatory Framework:

• Regulated by: Securities and Exchange Board of India (SEBI)
• Introduced in India: 2014 under SEBI (Real Estate Investment Trusts) Regulations, 2014
• Structure: A REIT is typically structured as a trust, registered with SEBI.
• Key Participants:
  • Sponsor(s): Promote and set up the REIT.
  • Trustee: Holds assets on behalf of investors.
  • Manager: Manages REIT operations and investments.

Implications:

• Encourages mutual fund participation in REITs, potentially boosting liquidity and investor interest in the real estate investment segment.
• Aligns with SEBI’s broader aim to expand investment options and promote portfolio diversification within mutual fund schemes.

3. Statutory Liquidity ratio (SLR)

Source: Mint

Context

Banks are selling government securities to fund credit growth as deposit growth lags behind lending demand. RBI data shows the statutory liquidity ratio (SLR)—the share of deposits invested in government and approved securities—fell to 26.5% on 17 October 2025, down from 27.3% a year ago, allowing banks access to nearly ₹26,000 crore in funds.

About Statutory Liquidity Ratio (SLR)

The Statutory Liquidity Ratio (SLR) is the minimum percentage of a bank’s Net Demand and Time Liabilities (NDTL) that must be maintained in the form of liquid assets — such as cash, gold, or approved government securities — before providing credit to customers.

Regulatory Basis:

• Governed under Section 24 of the Banking Regulation Act, 1949.
• The Reserve Bank of India (RBI) prescribes and periodically reviews the SLR requirement.

Current Requirement (as of 2025):

• The minimum SLR is 18% of a bank’s NDTL.
• However, banks often maintain a higher ratio (around 26–27%) to ensure liquidity comfort and meet investment norms for government securities.

Objectives of SLR:

1. Ensure Liquidity: Maintains a buffer of liquid assets to meet sudden withdrawal demands.
2. Promote Financial Stability: Prevents excessive lending and ensures banks remain solvent.
3. Support Government Borrowing: Ensures a steady demand for government securities (G-secs).
4. Monetary Policy Tool: RBI adjusts SLR to control money supply, credit growth, and inflation in the economy.

Components of SLR Assets:

• Cash (in hand or with RBI)
• Gold (valued at market price)
• Approved securities — mainly Central and State Government bonds

Reasons Behind SLR Decline:

• Banks typically hold at least 18% of net demand and time liabilities (NDTL) in approved securities, plus an additional buffer of ~10 percentage points.
• Open market operations (OMO) at the start of FY26 allowed banks to offload surplus SLR investments in exchange for liquidity.
• Slower deposit growth compared to credit has prompted banks to tap their SLR holdings to meet lending requirements.

4. The Case for Publishing RBI’s Inflation-Failure Report

Context

The Reserve Bank of India’s (RBI) monetary policy framework—anchored in a flexible inflation-targeting regime—is up for review by March 2026. While consensus exists on retaining the 4% inflation target with a ±2% tolerance band, a crucial aspect of transparency in the framework has come under renewed scrutiny: the non-publication of the RBI’s report to the government following its failure to meet the inflation target in 2022.

Background:

Under Section 45ZN of the RBI Act, 1934, when inflation remains outside the prescribed tolerance band (2–6%) for three consecutive quarters, the central bank must submit a report to the Central Government explaining:

1. Reasons for failure to achieve the target.
2. Remedial measures proposed.
3. Expected timeframe to bring inflation back to target.

In 2022, when inflation breached the upper tolerance limit for three consecutive quarters, the RBI submitted such a report—but it was not made public.

Arguments for Transparency:

• Spirit of the Framework:
  • While the law does not explicitly require publication, withholding the report contradicts the spirit of transparency embedded in India’s flexible inflation-targeting regime.
• Public Accountability:
  • The monetary policy framework was designed to make the RBI’s actions, reasoning, and decisions transparent—from pre-announced MPC meeting calendars and voting disclosures to biannual Monetary Policy Reports (MPRs).
• Global Practice:
  • Inflation-targeting central banks in other countries—such as the Bank of England and Reserve Bank of New Zealand—make such failure reports or explanations public to reinforce institutional credibility.
• Market Stability:
  • While concerns exist that disclosure could move financial markets, proponents argue that a clear policy roadmap would help markets adjust expectations more efficiently, reducing uncertainty.

5. Micro-Insurance

Source: Mint

Context

Insurance penetration in India remains critically low, hovering around 4% of GDP, leaving a vast majority of the population exposed to financial shocks. To address this, experts propose Standalone Micro-Insurance Companies (SAMIs)—dedicated insurers focusing exclusively on micro-insurance, targeting rural households, informal sector workers, and underserved communities.

The Case for SAMIs:

• The IRDAI Committee on SAMIs (2020) highlighted that such insurers could provide financial protection to over 500 million Indians below the poverty line.
• Despite recommendations, no concrete steps have been taken in the past five years, leaving a massive gap in coverage.

Proposed Regulatory Framework:

• Lower capital requirements: A minimum of ₹50 crore instead of the standard ₹100 crore for traditional insurers.
• Simplified operations: Mandatory use of a common digital platform, community-based distribution via NGOs, and a focus on number of lives covered rather than premiums collected.
• Relaxed compliance: Solvency margins, management expense limits, and certain rural/social sector obligations can be eased, without compromising policyholder protection.

Product Strategy:

• Offer low-cost, technology-driven, tailored insurance products for life, health, or property coverage aligned with borrowers’ liabilities.
• Focus on accessible micro-insurance rather than complex policies unsuitable for low-income segments.

Lessons from Small Finance Banks (SFBs):

• Introduced in 2015 to drive financial inclusion, SFBs demonstrate the potential of specialized, mission-driven financial institutions.
• Achievements include:
  • 75% priority sector lending
  • 50% of loans under ₹25 lakh
  • 25% of branches in unbanked rural areas
• Robust growth: 48% CAGR in deposits and 29% CAGR in assets under management, while significantly expanding microfinance reach.

Why Micro-Insurance Matters:

• Provides protection against life, health, and property risks for India’s vulnerable populations.
• Helps reduce financial distress, prevents households from falling into debt, and enhances social security coverage.
• Can complement broader government initiatives like ‘Insurance for All’ by 2047, bridging the gap between formal insurance penetration and underserved segments.

6. Fintech Dhan Launches Stock Lending & Borrowing Feature

Source: BS

Context

Indian fintech platform Dhan has introduced a Stock Lending & Borrowing Mechanism (SLBM) on its platform, enabling investors to earn passive income from their idle stock and ETF holdings.

Key Highlights:

• Functionality:
  • Long-term investors can lend their unutilised shares or ETFs to borrowers.
  • They earn a fixed rental fee without selling their investments.
  • The mechanism is exchange-driven, ensuring transparency and regulatory compliance.
• Significance:
  • Marks the first time a discount broker in India has digitally introduced stock lending and borrowing for retail investors.
  • Provides an additional income stream and better capital utilisation for investors.

About Stock Lending & Borrowing Mechanism (SLBM)

The Stock Lending and Borrowing Mechanism (SLBM) is a framework introduced by the Securities and Exchange Board of India (SEBI) that allows investors to lend or borrow securities (stocks, ETFs, etc.) for a specified period through a recognised stock exchange platform.

It enables long-term investors to earn passive income from their idle shares, while allowing borrowers (like traders) to use these shares for short selling, arbitrage, or hedging purposes.

Key Features

• Participants:
  • Lender: An investor who owns shares and lends them for a fee.
  • Borrower: A trader or institution borrowing shares to sell or meet delivery obligations.
  • Intermediary: Exchange-approved clearing corporation (like NSE Clearing) acts as a guarantor to ensure settlement security.
• Tenure:
  • Contracts can range from 1 day to 12 months, depending on the exchange framework.
• Collateral & Guarantee:
  • Clearing corporations manage collateral, margins, and settlement, ensuring that both lender and borrower are protected from default risk.
• Returns:
  • Lenders earn a rental fee (interest-like income) from lending their securities.
  • The borrower pays the lending fee and returns the same number of shares after the contract period.

7. Government to Review Digital Banking Units (DBUs) of State-Run Banks

Source: ET

Context

The government is set to review the performance of Digital Banking Units (DBUs) established by state-run banks to strengthen financial inclusion, enhance customer convenience, and support government schemes like periodic re-KYC and unclaimed financial asset campaigns.

About Digital Banking Units (DBUs)

DBUs are specialised brick-and-mortar outlets established by banks to provide digital banking products and services to customers using self-service and assisted digital channels.

Objective:

To ensure universal access to digital banking, especially in semi-urban and rural areas, as part of India’s broader Digital Financial Inclusion mission.

Background:

• DBUs were launched in October 2022 by Prime Minister Narendra Modi under the Azadi Ka Amrit Mahotsav initiative.
• The Reserve Bank of India (RBI) issued detailed guidelines in April 2022 for their establishment and operation.
• DBUs are treated as banking outlets as per RBI guidelines issued in April 2022.
• 75 DBUs were inaugurated across 75 districts to mark 75 years of India’s independence.

Current DBU Landscape:

• 114 DBUs operational across 104 districts.
• Focused primarily on tier-5 and tier-6 cities to improve financial literacy and facilitate access to government programmes.

Services Offered by DBUs:

• Digital banking products and services in self-service and assisted modes.
• Opening savings bank accounts, passbook printing, fund transfers, and loan applications.
• Onboarding for government flagship programmes such as Jan Suraksha schemes.
• Conduct financial literacy campaigns and virtual workshops on cybersecurity and government campaigns.

8. IBBI Plans Special Bankruptcy Lane for Real Estate Projects

Source: Mint

Context

The Insolvency and Bankruptcy Board of India (IBBI) is considering a framework to allow project-specific insolvency resolution in the real estate sector. The move aims to protect homebuyers in performing projects from being affected by defaults in a developer’s other stressed projects.

Current Scenario:

• Insolvency resolution is company-level, covering all projects under a developer, stressed or not.
• This can impact homebuyers of non-distressed projects, delaying possession and causing financial uncertainty.
• Real estate accounts for over a third of the 8,500 insolvency cases admitted under the Bankruptcy Code.

Proposed Framework:

• Enable insolvency resolution at the level of individual projects, instead of the entire company.
• Developers would maintain separate books of accounts for each project, allowing precise allocation of liabilities and restructuring efforts.
• The approach ensures that viable projects continue smoothly, safeguarding homebuyers’ interests.

Agriculture

1. NITI Aayog Unveils “Reimagining Agriculture: A Roadmap for Frontier Technology-Led Transformation”

Source: PIB

Context

NITI Aayog’s Frontier Tech Hub launched a strategic roadmap titled “Reimagining Agriculture: A Roadmap for Frontier Technology-Led Transformation”, envisioning a technologically empowered, inclusive, and resilient Indian agriculture sector by 2047. The roadmap emphasizes integrating frontier technologies such as AI, IoT, drones, digital twins, agentic AI, and bio-innovation to enhance productivity, sustainability, and farmer incomes.

Three-Pillar Framework – Digital Agriculture Mission 2.0:

1. Foundational Systems: Build a unified data ecosystem and enable last-mile digital services.
2. Agri-Innovation & Talent: Promote mission-oriented R&D, skill development, and farmer-centric innovation.
3. Institutional Convergence: Align industry insights, policymaking, and scalable solutions to ensure coherence.

Farmer Archetypes & Customisation:

• Aspiring Farmers (70–80%)
• Transitioning Farmers (15–20%)
• Advanced Farmers (1–2%)
  Tailored interventions are proposed for each archetype to ensure equitable transformation.

Current Agricultural Landscape:

• Significance: Employs 45.8% of India’s workforce; produces nearly 1 billion tonnes of food annually.
• Challenges:
  • Fragmented landholdings (86% <1 ha)
  • Low mechanisation and resource-intensive practices
  • Post-harvest losses exceeding USD 18 billion annually
  • Limited digital access, credit, and insurance
  • Climate pressures: erratic rainfall, soil degradation, declining groundwater

Opportunities through Frontier Technology:

• AI & Predictive Analytics: Precision advisories for weather, pest control, and yield forecasting (Telangana pilot: +21% yield, -9% input costs).
• Climate-Resilient Seeds: CRISPR and biofortification for drought, heat, and pest tolerance with improved nutrition.
• Smart Mechanisation: Drones, IoT, and digital twins for precision sowing, irrigation, and fertilisation.
• Blockchain & Data Sovereignty: Transparent farm-to-fork traceability, fair pricing, and secure farmer data.
• AgriTech Start-ups: Over 1,000 start-ups scaling AI, robotics, and fintech innovations for efficiency and market access.

Key Initiatives Laid Out:

• Digital Agriculture Mission (2021–25) – unified farmer and land data ecosystem
• National Mission on Sustainable Agriculture – climate-smart cropping practices
• Kisan Drone Scheme – precision spraying and nutrient management
• PM-Kisan & eNAM – financial inclusion and digital market integration
• AgriStack & Agri Accelerator Fund – digital infrastructure and innovation support

Challenges to Transformation:

• Data silos and lack of interoperability
• Low digital literacy and trust deficit
• Phygital divide due to poor connectivity and logistics
• Talent gaps in AI-agriculture skill integration
• Funding constraints for deep-tech and early-stage innovation

Recommendations by NITI Aayog:

• Launch Digital Agriculture Mission 2.0 with 360° AI-enabled data ecosystem
• Promote translational R&D linking labs to farms
• Develop agri-talent ecosystem through tech skilling and digital literacy
• Create centres of excellence for policy, academia, and industry convergence
• Introduce AI-powered credit and insurance models for inclusive financing

2. Centre Orders Probe into ₹1 Crop Insurance Payouts to Farmers

Source: ET

Context

Union Agriculture Minister Shivraj Singh Chouhan has ordered a probe into extremely low crop insurance payouts made to farmers under the Pradhan Mantri Fasal Bima Yojana (PMFBY). The directive follows multiple complaints about farmers receiving payouts as low as ₹1.

Key Highlights:

• The Agriculture Minister described such meagre settlements of ₹1, ₹3, ₹5, or ₹21 as “playing jokes with farmers”.
• The review meeting focused on implementation gaps, complaint redressal, and insurer accountability.
• The Ministry has ordered officials to investigate the causes behind the low payouts, which may include assessment errors, data entry lapses, or insurer negligence.

About PMFBY:

• Launched: 2016
• Objective: To provide financial support to farmers in the event of crop failure due to natural calamities, pests, or diseases.
• Implementation: Jointly by the Centre, State Governments, and empanelled insurance companies.
• Premium: Farmers pay a small share of the premium, while the rest is subsidised by the government.

Facts To Remember

1. Oldest Olympic champion Coste passes away at 101

World’s oldest Olympic champion, former track cyclist Charles Coste, passed away aged 101, French sports minister Marina Ferrari announced.

2. ECI launches International Election Visitors’ Program 2025 in New Delhi

Election Commission today commenced the International Election Visitors’ Program 2025 at the India International Institute for Democracy and Election Management in New Delhi.

3. Union Minister Dr. Jitendra Singh to launch nationwide Digital Life Certificate campaign

Minister of State for Personnel, Public Grievances and Pensions Dr Jitendra Singh will launch fthe ourth nationwide Digital Life Certificate campaign in New Delhi tomorrow.

4. Marathi actress Daya Dongre passes away at 85

Veteran Marathi actress Daya Dongre passed away yesterday at the age of 85 following an age-related illness.

5. APEDA Facilitates First Export of Fortified Rice Kernel from Chhattisgarh to Costa Rica

The Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce and Industry, has facilitated the first export consignment of 12 metric tonnes of Fortified Rice Kernel from Chhattisgarh to Costa Rica.

6. Hockey India to Launch Centenary Celebrations on November 7, Marking 100 Years of Indian Hockey

Hockey India will launch its centenary celebrations - marking 100 years of Indian hockey - on November 7 at the Major Dhyan Chand National Stadium in New Delhi.

Daily Current Affairs Quiz
5 November, 2025

National Affairs

1. Election Commission Launches International Election Visitors’ Program 2025

Source: News on Air

Context

The Election Commission of India (ECI) has inaugurated the International Election Visitors’ Program (IEVP) 2025 at the India International Institute for Democracy and Election Management (IIIDEM) in New Delhi.

Key Highlights:

• Participants: The program hosts 14 participants from seven countries—France, South Africa, Belgium, Indonesia, the Philippines, Thailand, and Colombia.
• Purpose: Participants will observe polling in the first phase of the Bihar Assembly Elections, scheduled for 6 November 2025.
• Program Activities:
  • A two-day tour of Bihar, including visits to Electronic Voting Machine (EVM) dispatch centres.
  • Demonstrations on EVM operation, electoral roll preparation, and overall election conduct.

Significance

The IEVP is a flagship initiative of the ECI, aimed at:

• Fostering international cooperation and engagement with Election Management Bodies (EMBs) worldwide.
• Promoting best practices in election management and democratic processes globally.

2. UNEP Emissions Gap Report 2025

Context

The UNEP Emissions Gap Report 2025, released ahead of COP30 in Belem, Brazil, highlights accelerating global greenhouse gas (GHG) emissions and insufficient progress toward Paris Agreement targets. The report warns that without rapid emission reductions this decade, the world faces a serious escalation of climate risks and damages.

Key Highlights:

• Global Emissions: GHG emissions rose 2.3% in 2024, reaching an all-time high of 57.7 GtCO₂e.
• Acceleration Trend: This growth rate is nearly four times higher than the 2010s’ average (0.6%), driven by renewed fossil fuel use amid economic recovery.
• Major Contributors: India recorded the largest absolute increase, followed by China, Russia, Indonesia, and the United States. The EU was the only major emitter to reduce emissions in 2024.

Country-Wise Trends:

• India: Emissions grew 3.6%, the steepest absolute rise globally.
• Indonesia: Highest growth rate at 4.6%, followed by India.
• China: Emissions rose 0.5%, lower than 2023.
• Per Capita Emissions: Global average is 6.4 tons CO₂e. India and Indonesia remain below average, while the US, Russia, China, and EU are above average.

Projected Warming & Climate Risks:

• Current pledges: If fully implemented, global temperatures projected to rise 2.3–2.5°C by 2100, exceeding Paris targets.
• Business-as-usual scenario: Temperatures could rise up to 2.8°C.
• Updated pledges show only marginal improvement over last year (2.6–2.8°C), indicating global efforts remain off track.

UNEP Findings & Warnings:

• Required emission reductions by 2035:
  • 35% for a 2°C pathway
  • 55% for a 1.5°C pathway (compared to 2019 levels)
• Inger Andersen, UNEP: “Unprecedented emissions cuts are needed in an increasingly tight window.”

Implications for India & the World:

• India’s surge is linked to rapid economic growth and reliance on coal-based power.
• Per capita emissions in India remain below global averages, highlighting a developmental energy gap.
• Urgent need for renewable energy expansion, climate financing, and technology transfer to accelerate global low-carbon transition.

3. Banks Push for Yuan Inclusion in GIFT City

Source: TOI

Context

With diplomatic relations between India and China gradually warming, the Indian government and the International Financial Services Centres Authority (IFSCA) are revisiting a proposal to allow International Banking Units (IBUs) in GIFT City to transact in the offshore renminbi (CNH). This move could expand the range of financial products offered and strengthen GIFT City’s position as a global financial hub.

Background

• GIFT City: India’s premier International Financial Services Centre (IFSC), designed to provide global-standard financial services and professional solutions.
• Currency Proposal: Banks suggested including CNH (offshore yuan) as a permitted currency for IBUs in October 2025.
• Onshore vs. Offshore Renminbi:
  • CNY: Onshore renminbi traded within China.
  • CNH: Offshore renminbi traded internationally, widely accepted for cross-border transactions.

Rationale for the Proposal

• Global Trade Alignment:
  • China is a major trade partner, and CNH is increasingly used in international trade settlements.
  • Permitting CNH transactions would allow Indian banks to offer more diverse products and services to clients.
• Strategic Importance:
  • Enhances financial diplomacy with China.
  • Supports the vision of a multipolar global financial system by reducing dependence on the US dollar.
• Market Opportunity:
  • IBUs in GIFT City currently transact in 15 currencies and offer spot and derivative products.
  • Allowing CNH would expand the offshore liquidity pool and promote bilateral trade.

Past Developments

• In 2024, IFSCA recommended five freely floating currencies, including CNH, for IBUs.
• The government approved four currencies — SEK, DKK, NOK, NZD — but excluded CNH due to diplomatic sensitivities.
• With the easing of India-China tensions, the CNH proposal is now under high-level review.

4. PM Launches ₹1 Lakh-Crore Research, Development, and Innovation (RDI) Scheme Fund

Source: TOI

Context

Prime Minister Narendra Modi inaugurated the Emerging Science & Technology Innovation Conclave (ESTIC) 2025 at Bharat Mandapam, New Delhi, and launched the ₹1 lakh-crore Research, Development, and Innovation (RDI) Scheme Fund.

Launch of the ₹1 Lakh-Crore RDI Scheme Fund

• The Research, Development, and Innovation (RDI) Scheme Fund — a ₹1 lakh-crore corpus — was officially launched to boost private-sector R&D investment.
• The fund aims to provide long-term, low or zero-interest capital for high-risk, high-impact projects with the potential for large-scale technological breakthroughs.
• Objective: To create capital availability for innovation-intensive sectors and promote India’s global leadership in emerging technologies.

Establishment of Anusandhan Research Foundation

• PM Modi announced the creation of the Anusandhan Research Foundation to strengthen research, innovation, and collaboration across universities and scientific institutions.
• The foundation aims to foster an academic–industry–government nexus, encouraging joint R&D and commercialization of cutting-edge technologies.

About Research, Development & Innovation (RDI) Scheme 2025

• Launched: November 3, 2025
• Corpus: ₹1 lakh crore
• Objective: To de-risk and fund high-risk, high-TRL (Technology Readiness Level) projects in deep-tech, critical technology, and strategic innovation domains.
• Mechanism: Long-tenure, low or zero-interest loans to private enterprises for bold R&D ventures.

Key Features:

• Long-term capital access: Provides flexible financing for deep-tech projects often neglected by commercial banks or venture investors.
• Deep-Tech Fund of Funds: Establishes a national fund ecosystem for start-ups in AI, semiconductors, biotechnology, and advanced materials.
• Critical technology acquisition: Enables Indian firms to develop or acquire strategic technologies vital for national security, energy independence, and digital sovereignty.
• Innovation pipeline strengthening: Offers growth and risk capital for prototype-to-market translation.
• Industry–academia collaboration: Encourages joint R&D projects to promote cross-sectoral knowledge exchange.
• Focus areas: Quantum tech, green hydrogen, space technology, bioengineering, and next-gen communication — aligning with the Viksit Bharat 2047 vision.

Complementary National Initiatives

5. Pravasi Parichay 2025

Context

The Embassy of India in Riyadh successfully concluded the third edition of Pravasi Parichay 2025 with a grand finale titled “Gita Mahotsav – A Musical.” The event celebrated India’s spiritual, philosophical, and cultural heritage, bringing together members of the Indian diaspora and local communities in Saudi Arabia.

About Pravasi Parichay 2025

Pravasi Parichay is an annual diaspora cultural festival organized by the Embassy of India, Riyadh, aimed at showcasing India’s rich artistic, linguistic, and philosophical traditions. The event features music, dance, theatre, exhibitions, and dialogues that highlight the vibrancy and diversity of Indian culture abroad.

Host: Embassy of India, Riyadh, in collaboration with Indian diaspora associations and cultural institutions in Saudi Arabia.

Objectives

• Cultural Diplomacy: To project India’s civilizational and cultural identity on the global stage.
• Diaspora Engagement: To deepen emotional, cultural, and spiritual ties between India and the Indian community abroad.
• Promotion of Heritage: To highlight India’s unity in diversity through performances reflecting art, dance, music, and philosophy.

Banking and Finance

1. Sebi to Revamp 30-Year-Old Stock Broker Regulations

Source: ET

Context

The Securities and Exchange Board of India (Sebi) is set to overhaul stock broker regulations, some of which have remained largely unchanged for over three decades. The move aims to strengthen risk management, data protection, and market resilience, according to Sebi Chairman Tuhin Kanta Pandey.

Key Highlights:

• Timeline for Reform:
  • Sebi intends to finalize changes by December 2025, following a discussion paper released in August 2025.
  • The paper proposed updates including new definitions for algorithmic and proprietary trading and rationalization of broker norms.
• Focus Areas:
  • Risk Management & Data Protection: Modernizing rules to align with current market and technological standards.
  • Infrastructure Stability: Sebi is examining technical glitches at the Multi Commodity Exchange (MCX), which caused trading disruptions last week.
    • MCX had moved to a TCS-developed trading engine in October 2023, replacing 63 Moons Technologies.
    • Pandey emphasized that repeated outages require root-cause analysis and corrective measures.
• Investor Relief Measures:
  • Sebi plans to allow physical shareholders who purchased securities prior to FY20 but could not complete transfers to now lodge and transfer them in their name.
  • This step aims to ease operational hurdles for long-term investors.
• Angel One Settlement:
  • Angel One settled a ₹34 lakh disclosure violation case with Sebi.
  • The show-cause notice in April alleged non-compliance with securities disclosure norms.

What are Stock Broker Regulations?

Stock Broker Regulations are a set of rules and guidelines framed by the Securities and Exchange Board of India (SEBI) introduced in the early 1990s to govern the registration, conduct, responsibilities, and operations of stock brokers and sub-brokers who facilitate buying and selling of securities on stock exchanges.

Legal Framework

The key framework is the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992, which:

• Define who qualifies as a stock broker and sub-broker.
• Specify eligibility, registration, and compliance requirements.
• Lay down the code of conduct and disciplinary procedures for violations.

Objectives of the Regulations

• Investor Protection: Safeguard client funds and securities against misuse.
• Market Integrity: Ensure fair, transparent, and efficient trading.
• Accountability: Enforce strict compliance, audits, and record-keeping.
• Risk Management: Reduce systemic risks through margin, capital, and reporting norms.
• Transparency: Mandate proper disclosures and grievance redressal mechanisms.

Key Provisions (Under the 1992 Regulations)

• Registration Requirement: Every broker and sub-broker must be registered with SEBI and the stock exchange.
• Capital Adequacy: Brokers must maintain minimum net worth and deposit requirements.
• Client Protection:
  • Maintain separate accounts for client funds and own funds.
  • Issue contract notes after every transaction.
• Code of Conduct: Enforces integrity, diligence, and fair dealing.
• Audit & Reporting: Periodic submission of financial and compliance reports to SEBI/exchanges.
• Grievance Redressal: Investor complaints handled through SEBI’s SCORES platform and exchange mechanisms.

2. Brokers Urge Sebi to Restore Bank Nifty Weekly Options

Context

The Association of National Exchanges Members of India (ANMI) has appealed to the Securities and Exchange Board of India (Sebi) to restore weekly options on the Bank Nifty index, citing their importance as a hedging tool and market liquidity concerns. The move comes amid ongoing debate over Sebi’s restrictions on weekly expiries after massive retail investor losses.

Background: SEBI’s Restrictions on Weekly Options

• SEBI had imposed curbs on weekly expiries across major indices, including Bank Nifty and Nifty, to reduce speculative retail trading and associated losses.
• The regulator highlighted that high-frequency trading in weekly options had led to retail investors suffering substantial losses, often due to inadequate understanding of derivatives risks.
• The measure aimed to enhance market stability and discourage excessive short-term speculation.

Why Bank Nifty Options Matter

• Bank Nifty is one of the most actively traded indices on Indian exchanges, representing major banking sector stocks.
• Weekly options allow participants to manage short-term risks, hedge portfolios, and enhance market participation.
• These derivatives also contribute significantly to exchange turnover and liquidity.

Regulatory Context

• SEBI’s move is part of a broader derivatives market reform aimed at protecting small investors, ensuring responsible participation, and reducing speculative losses.
• Exchanges like NSE have also been directed to implement investor education initiatives and risk disclosure mechanisms for derivatives traders.

What are Weekly Options on the Bank Nifty Index?

Weekly options on the Bank Nifty index are derivative contracts that give traders and investors the right, but not the obligation, to buy or sell the Bank Nifty index at a specified price (called the strike price) on or before a specific weekly expiry date.

Understanding the Bank Nifty Index

• Bank Nifty (Nifty Bank) is a benchmark index that tracks the performance of the 12 most liquid and large-cap banking stocks listed on NSE (e.g., HDFC Bank, ICICI Bank, SBI, Kotak Mahindra Bank).
• It reflects the overall performance of the banking sector in the stock market.

What “Weekly Options” Mean

• Weekly options are short-term option contracts that expire every Thursday (unless there is a market holiday).
• For example, if you buy a Bank Nifty call option with a weekly expiry on Thursday, November 6, it will expire at the end of that day.
• Unlike monthly options (which expire on the last Thursday of the month), weekly options last only for a few days and are designed for short-term traders.

Types of Bank Nifty Weekly Options

1. Call Option (CE):
   Gives the buyer the right to buy the Bank Nifty index at a set strike price.
2. Put Option (PE):
   Gives the buyer the right to sell the Bank Nifty index at a set strike price.

3. SBI Launches Digital Life Certificate Campaign for Pensioners

Context

The State Bank of India (SBI) has initiated a nationwide Digital Life Certificate (DLC) campaign to simplify and digitize the life certificate submission process for pensioners.

Key Highlights:

• Technology Use: This system enables pensioners to submit life certificates digitally without the need for physical biometric devices, enhancing convenience and accessibility, especially for elderly citizens.
• Nationwide Outreach: SBI is conducting similar camps in 115 cities and towns across India.

Significance:

• Promotes digital inclusion and ease of living for pensioners.
• Reduces the need for physical visits to bank branches.
• Supports the government’s Digital India initiative by leveraging Aadhaar authentication for secure, paperless pension services.

4. RBI’s Rupee Defence Drains Banking System Liquidity

Source: BS

Context

The Reserve Bank of India’s (RBI) aggressive intervention in the forex market to defend the rupee is reducing liquidity in the banking system, raising concerns among economists and traders about its impact on interest rates and economic growth.

Key Highlights:

• Forward Book Position:
  • RBI’s net short position in FX forwards and futures stood at $59.4 billion as of September-end.
  • Indicates continued sales of U.S. dollars in the forward market to support the rupee.
  • Data on the forward book is released with a one-month lag.
• Market Instruments:
  • The FX forward book includes positions in both non-deliverable forwards (NDF) and onshore forward markets.
  • The forward book had previously peaked in February 2025 before moderating over the next few months.
• Purpose of Intervention:
  • To curb rupee volatility and contain speculative pressures.
  • Helps reduce liquidity drain in the banking system compared to spot market dollar sales.
  • According to Gaura Sen Gupta, Chief Economist at IDFC First Bank, this strategy allows RBI to defend the rupee “without tightening domestic liquidity too sharply.”

Rupee Movement and Market Context:

• The rupee weakened for the fifth consecutive month in September, touching a record low of ₹88.80 per U.S. dollar.
• Depreciation pressures were linked to:
  • Gold import-related outflows,
  • Foreign portfolio investor (FPI) withdrawals, and
  • Concerns over potential U.S. trade tariffs on Indian goods.
• Despite RBI’s intervention, the rupee continued to hover around ₹88.76 per dollar in early November, close to its record low.

5. NaBFID to Be Repositioned as a Global Financial Institution

Source: ET

Context

The National Bank for Financing Infrastructure and Development (NaBFID) is set to be renamed as Infrastructure Development Bank (IDB), signaling its ambition to emerge as a global-level financial institution akin to the Asian Development Bank (ADB) and the International Finance Corporation (IFC).

Key Highlights:

• Name and Branding:
  • NaBFID will adopt a new name – Infrastructure Development Bank (IDB).
  • A new logo will also be launched to reflect its enhanced global positioning.
• Purpose and Background:
  • Established under the National Bank for Financing Infrastructure and Development Act, 2021, NaBFID is 100% government-owned.
  • Its core mandate is to finance long-term infrastructure projects across India.
  • The institution was initially launched quickly to start operations, with branding and global positioning deferred, but recent efforts aim to align its identity with its developmental role.
• Strategic Goal:
  • The renaming and rebranding aim to enhance international recognition, attract global investors, and facilitate partnerships with other multilateral and development financial institutions.

National Bank for Financing Infrastructure and Development (NaBFID)

• Established under: NaBFID Act, 2021
• Passed by Parliament: March 2021
• Commenced operations: April 2022
• Type: Development Finance Institution (DFI)
• Headquarters: New Delhi, India
• Ownership: Government of India (majority stake)
• Objective: To provide long-term finance for infrastructure projects, develop bond markets, and promote private investment in India’s infrastructure sector.

6. Bank of Baroda Pauses Nainital Bank Divestment Plan

Source: BL

Context

Bank of Baroda (BoB) has shelved its plan to divest majority shareholding and relinquish control in its subsidiary Nainital Bank Ltd (NBL). The decision marks a shift from its earlier intent to offload stake and exit the subsidiary.

Background:

• Nainital Bank Ltd (NBL) is a regional private sector bank headquartered in Nainital, Uttarakhand.
• It was established in 1922 and became a subsidiary of Bank of Baroda in 1973, with BoB holding a 98.6% stake.
• BoB had earlier been exploring options to divest its controlling stake in compliance with RBI’s directive to reduce ownership in subsidiaries.

About Nainital Bank Ltd:

• Headquarters: Nainital, Uttarakhand
• Established: 1922
• Subsidiary of: Bank of Baroda (since 1973)
• Business Focus: Retail, MSME, and regional banking in northern India
• Ownership: 98.6% held by Bank of Baroda

7. NPCI Partners with Razorpay Curlec to Enable UPI Payments in Malaysia

Source: BL

Context

The National Payments Corporation of India (NPCI) International Payments Ltd (NIPL) has partnered with Razorpay Curlec to enable Unified Payments Interface (UPI) transactions in Malaysia. The agreement was formalized during the Global Fintech Fest (GFF) 2025.

Key Highlights:

• Cross-Border UPI Expansion:
  • Indian travellers visiting Malaysia can now make instant and secure payments to local merchants using UPI-enabled apps (such as PhonePe, Paytm, or Google Pay).
• Integration Partner: Razorpay Curlec, a Malaysian fintech firm, will act as the local acquiring partner, allowing seamless merchant acceptance across Malaysia.
• User Benefit:
  • Eliminates the need for foreign currency or cash payments.
  • Reduces foreign exchange conversion costs.
  • Provides real-time payment convenience and better transparency for users.

About NPCI International Payments Ltd (NIPL):

• Subsidiary of: National Payments Corporation of India (NPCI)
• Established: 2020
• Objective: Internationalize India’s payment systems — UPI and RuPay — through global partnerships and interoperability initiatives.

Agriculture

1. APEDA Facilitates First Export of Fortified Rice Kernel from Chhattisgarh to Costa Rica

Source: PIB

Context

The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated India’s first export of 12 metric tonnes of Fortified Rice Kernel (FRK) from Chhattisgarh to Costa Rica. This initiative integrates India’s domestic nutrition programs with global outreach and showcases its technological capabilities in food fortification.

About Fortified Rice Kernel (FRK)

FRK is a nutritionally enhanced rice, produced by blending rice flour with micronutrients such as iron, folic acid, and vitamin B12. The mixture is extruded and reshaped to resemble natural rice grains.

Key Features:

• Micronutrient Enrichment: Helps combat anaemia and malnutrition.
• Blending Ratio: Typically mixed with regular rice at a 1:100 ratio for uniform nutrient distribution.
• Technological Innovation: Uses extrusion technology, highlighting India’s advancement in fortified foods.
• Global Compliance: Meets international food safety and fortification standards, making it suitable for export.

About APEDA

Full Form: Agricultural and Processed Food Products Export Development Authority

Establishment:

• Formed under the APEDA Act, 1985 (Act 2 of 1986), operational from 13 February 1986.
• Replaced the Processed Food Export Promotion Council (PFEPC).
• Objective: To promote and develop exports of agricultural and processed food products from India, enhance quality standards, and diversify India’s agri-export portfolio.

Key Functions:

• Development and Support: Provide financial and technical assistance to industries exporting scheduled products.
• Exporter Registration: Register and monitor exporters to ensure quality compliance.
• Quality Control & Inspection: Oversee inspections of meat and processed food for global standards.
• Packaging & Marketing: Enhance packaging, branding, and access to international markets.
• Data and Training: Collect export statistics, publish trade data, and conduct training in agri-export management.
• Promotion of Value Addition: Encourage fortification, organic certification, and GI-based exports to boost global competitiveness.

Facts To Remember

1. Nation Celebrates Guru Nanak Jayanti with Devotion; PM, President Extend Greetings

Guru Nanak Jayanti, also known as Gurpurab, is being celebrated with great religious fervour and devotion across the country and around the world today.

2. Maharashtra Becomes First State to Partner with Starlink for Satellite-Based Internet Services

Maharashtra has become the first state in India to sign an agreement with Starlink Satellite Communications Private Limited to provide satellite-based internet services across government institutions and rural areas.

3. 100 5G Labs Set Up Nationwide to Boost 6G R&D

100 5G Labs have been established across the country to strengthen the 6G Research and Development ecosystem.

4. Third Maritime Information Sharing Workshop Concludes in Gurugram

The third edition of Maritime Information Sharing Workshop concluded in Gurugram today.

5. MeitY Unveils India AI Governance Guidelines to Promote Safe and Responsible AI Adoption

The Ministry of Electronics and Information Technology (MeitY) today unveiled the India AI Governance Guidelines in New Delhi.

6. Ministry of New and Renewable Energy to Host International Conference on Green Hydrogen 2025 in New Delhi

The Ministry of New and Renewable Energy will host the International Conference on Green Hydrogen- 2025 on the 11th and 12th of this month in New Delhi.

Daily Current Affairs Quiz
6 November, 2025

International Affairs

1. COP30 Opening in Belém, Brazil – “COP of Truth”

Source: TH

Context

The 30th United Nations Climate Change Conference (COP30) opened in Belém, Brazilian Amazon, bringing together world leaders, scientists, activists, and journalists. The Brazilian government emphasized urgent, concrete climate action rather than mere rhetoric.

COP30 Theme and Significance

• Brazil frames COP30 as the “COP of Truth”, aiming to showcase the real state of the Amazon rainforest and climate challenges.
• Highlights the importance of multilateral action guided by science, citing past successes like ozone layer protection and global COVID-19 response.
• Reiterates that COPs must move from discussions to effective action to maintain public trust in multilateralism.

Brazil’s Climate Leadership

• Brazil has halved deforestation in the Amazon in the past two years.
• Launched Tropical Forests Forever Facility (TFFF):
  • Operates as an investment fund, rewarding forest preservation and attracting investments.
  • Brazil committed $1 billion, aiming for similar contributions from other nations.
• Presented an ambitious Nationally Determined Contribution (NDC):
  • Targeting 59–67% reduction in greenhouse gas emissions across all sectors.
• Participants: World leaders, climate scientists, activists, and journalists from across the globe.
• Host Country Message: Brazil stressed the urgency of concrete climate action, calling for solutions beyond mere rhetoric.
• Focus Areas:
  • Strengthening global commitments to emission reductions
  • Climate finance and support for developing nations
  • Mitigation, adaptation, and biodiversity preservation in the Amazon and globally

National Affairs

1. India’s New AI Governance Guidelines

Source: TH

Context

The Ministry of Electronics and Information Technology (MeitY) released the India AI Governance Guidelines, a revised framework aimed at guiding the development and deployment of artificial intelligence (AI) in India. The document updates the earlier consultation draft published in January 2025.

The guidelines are designed to balance innovation with safety, positioning India’s AI governance as globally responsible yet innovation-friendly.

Focus Areas:

• Human-centric AI development
• Responsible, ethical deployment of AI
• Inclusive and accessible AI solutions
• Risk mitigation through adaptive, flexible innovation ecosystems

Core Principles of AI Governance

The guidelines outline seven key principles for AI in India:

1. Trust: Ensuring AI systems are reliable and credible.
2. People-Centricity: AI should serve human interests and societal welfare.
3. Responsible Innovation: Encouraging AI development while mitigating ethical and social risks.
4. Equity: Promoting fairness and inclusivity in AI access and outcomes.
5. Accountability: Establishing clear responsibility for AI outcomes.
6. Understandability of LLMs (Large Language Models): Enhancing transparency and interpretability of AI systems.
7. Safety, Resilience, and Sustainability: Ensuring AI systems are secure, robust, and environmentally responsible.

Approach and Significance

• The framework reflects India’s largely hands-off approach to AI regulation, focusing on enabling innovation rather than heavy prescriptive oversight.
• Seeks to signal global AI governance leadership by balancing trust, safety, and responsible innovation.
• Aims to foster ethical, people-oriented AI deployment across sectors while minimizing risks.

IndiaAI Hackathon 2025: Mineral Targeting

Objective Use AI/ML for mineral mapping, exploration, and resource discovery
Organizers: IndiaAI Mission & Geological Survey of India (GSI), Ministry of Mines
Winning Teams & Solutions:

• First Prize (₹10 lakh): CricSM AI – Critical & strategic mineral mapping using AI
• Second Prize (₹7 lakh): Knowledge & Data-Driven Mineral Targeting Approach
• Third Prize (₹5 lakh): SUVARN – Semi-unsupervised value-adaptive resource network
• Special Prize (₹5 lakh): AI/ML solutions for new exploration of REE, Ni-PGE, Copper, diamond, iron, manganese, gold

2. Household Income Survey 2026

Source: TH

Context

The Household Income Survey 2026 is set to be the first survey in India directly measuring detailed household income across all sectors, occupations, and social groups.

Aim: To provide granular insights into household income, expenses, and class dynamics, bridging the gaps left by previous surveys like:

• Periodic Labour Force Survey (PLFS) – focuses on wages and labor market trends.
• Household Consumption Expenditure Survey (HCES) – infers income from consumption patterns.
• RBI Consumer Confidence Survey – tracks perceived income changes over time.

Survey Features

• Income Data Collection
  • Records salaries, allowances, bonuses, stock options, leave encashments, severance pay.
  • For casual workers: days worked, daily wages, tips.
  • For self-employed/agriculture: crops sold, quantity, value.
  • For non-agricultural businesses: sector, gross receipts.
• Expense Data
  • Captures input costs, rent, raw material, maintenance, and other operational expenses.
  • Tracks pensions, family support transfers, remittances, and funds from State/Union government schemes.
  • Enables computation of profit margins and household economic vulnerability.
• Household Characteristics
  • Covers social group, religion, land ownership, property details, and loans.
  • Helps understand income concentration across social groups and employment types.

Challenges Identified

• Sensitivity of Income Questions
  • Pilot test in August 2025: 95% respondents found questions intrusive.
  • High refusal rates for income taxes, bonuses, and asset details.
  • Affluent households asked more questions and expressed greater reluctance.
• Accuracy and Recall Issues
  • Respondents often overstated expenses or misreported income.
  • Difficulty recalling financial assets, interest earned, and exact earnings.
  • Self-employment and agriculture income can be volatile and difficult to quantify.
• Response Hesitation
  • Rural respondents generally more compliant; urban/affluent respondents more cautious.
  • Government considering self-compilation options for affluent or gated communities.
• Public Awareness and Trust
  • Survey teams need to dispel misconceptions, build trust, and deploy local-language staff.
  • Outreach campaigns planned to emphasize the importance of accurate data for policymaking.

Significance

• Will provide first-hand data on income distribution, loan burden, and household profitability.
• Enables assessment of government schemes like farmer income support and social welfare programs.
• Critical for policy formulation on social security, taxation, poverty alleviation, and targeted subsidies.
• Helps validate claims such as “doubling farmers’ income” and understand class dynamics in urban and rural India.

3. NISAR Satellite

Source: TH

Context

NASA and ISRO are set to declare the NISAR satellite operational on November 7, 2025, according to ISRO Chairman V. Narayanan.

About NISAR:

• Full Name: NASA–ISRO Synthetic Aperture Radar.
• Purpose: Earth observation with the ability to monitor most land and ice surfaces twice every 12 days.
• Weight: 2,400 kg.
• Launch: July 30, 2025, from Satish Dhawan Space Centre using GSLV rocket.
• Significance: Most expensive Earth observation satellite ever built.

Key Features of the NISAR Satellite

Objectives of NISAR

• Monitor land surface deformation, glacier movement, and ecosystem dynamics
• Study cryosphere changes, soil moisture, agricultural and coastal processes
• Provide data to aid in:
  • Disaster response (e.g. earthquakes, landslides, floods)
  • Resource mapping
  • Climate change impact assessments

India’s Contribution to NISAR

4. Vijayanagara-era Gold Coins Unearthed

Source: TH

Context

During restoration work at a Later Chola-period Shiva temple, 103 punch-marked gold coins were discovered in an earthen pot near the sanctum sanctorum.

Discovery:

• Location: Kovilur Shiva temple, Jawadhu Hills, Tiruvannamalai district, Tamil Nadu.
• Event: During restoration of the Later Chola-period temple, 103 punch-marked gold coins were found inside an earthen pot near the sanctum sanctorum.
• Handling: The site was secured by the Tamil Nadu State Archaeology Department (TNSAD) and Revenue Department; coins were transferred to the district treasury under the Indian Treasure Trove Act, 1878.

Details of the Coins:

• Era: Vijayanagara Empire (14th–16th centuries CE), during reigns of rulers like Harihara II and Krishnadevaraya.
• Material & Size: Pure gold, ~5 mm in size, varying shapes.
• Emblem & Symbolism: Boar (Varaha) emblem, signifying royal authority and divine sanction.
• Purpose: Likely temple offerings or donations, reflecting the close link between religion and governance.

Numismatics of the Vijayanagara Empire

Origin & Historical Context

• Founded in 1336 CE by Harihara I and Bukka I, under guidance from sage Vidyaranya.
• Capital at Hampi, a hub of politics, economy, and religion.
• The empire developed a sophisticated monetary system in medieval India.

Key Features of Vijayanagara Coinage

• Metal Composition:
  • Gold pagodas (gadyanas), half and quarter pagodas.
  • Silver taras and copper jitals for smaller transactions.
  • Gold was reserved for temple wealth and royal use.
• Artistic Imagery:
  • Hindu deities: Siva-Parvati (Uma-Maheshwara), Vishnu-Lakshmi, Balakrishna, or Gandaberunda (double-headed eagle).
  • Reflects royal devotion and temple culture.
• Legends & Language:
  • Inscribed in Devanagari, Kannada, or Tamil.
  • Included ruler’s name and honorifics, e.g., “Sri Pratapa Krishna Raya”.
• Symbolism:
  • Boar emblem (Varaha) as state symbol on coins and seals.
  • Represented divine sanction to rule.
• Economic Role:
  • Served as temple wealth and trade currency.
  • Circulated across South India, Sri Lanka, and Indian Ocean trade routes.

5. Janjatiya Gaurav Varsh Pakhwada 2025

Source: PIB

Context

Janjatiya Gaurav Varsh Pakhwada (Tribal Pride Year Fortnight), 1–15 November 2025, commemorating the 150th Birth Anniversary of Dharti Aaba Bhagwan Birsa Munda. Focus on tribal culture, education, welfare, and environmental stewardship.

Objectives of the Pakhwada

• Honor India’s tribal heritage and culture.
• Promote holistic tribal empowerment and social inclusion.
• Encourage youth engagement, skill development, and participation in cultural activities.
• Highlight the contributions of tribal communities to nation-building.

Key Activities Across States and UTs

6. Global Inequality Report (G20 Commissioned, 2025)

Source: TH

Context

India's richest 1% expanded its wealth by 62% between 2000 to 2023, according to a report commissioned by the South African Presidency of the G20.

Key Findings

Extreme Wealth Concentration:

• Top 1% globally captured 41% of all new wealth created between 2000 and 2024.
• Bottom 50% of humanity received only 1% of new wealth.
• Global inequality has reached “emergency levels”, threatening:
  • Democracy
  • Economic stability
  • Climate progress

Country-Specific Trends:

• In India, the richest 1% expanded their wealth by 62% between 2000–2023.
• In China, the top 1% saw a 54% increase in wealth share during the same period.
• Globally, more than half of all countries (representing 74% of the world population) saw rising wealth concentration among the richest 1%.

Intercountry Inequality:

• Appears to have slightly reduced due to rising incomes in populous countries like China and India.
• This has decreased the share of high-income countries in global GDP.

Social and Economic Impacts:

• Countries with high inequality are seven times more likely to experience democratic decline.
• Global poverty reduction has slowed since 2020; in some regions, it has reversed.
• Food insecurity: 2.3 billion people face moderate or severe food insecurity (up 335 million since 2019).
• Health coverage: Half the world’s population lacks essential health services; 1.3 billion impoverished due to out-of-pocket health spending.

Policy Recommendations

Reversing Extreme Inequality:

• Inequality is not inevitable; it can be mitigated with political will.
• Global coordination is crucial, and the G20 has a critical role.

Proposed International Panel on Inequality (IPI):

• Modeled on the IPCC (Intergovernmental Panel on Climate Change).
• Purpose: Monitor global inequality trends and provide authoritative, accessible data to guide policymaking.
• To be launched under the South African G20 Presidency.

Approach:

• Aim to make the poor richer without making the rich poorer through equitable policies.
• Data-driven interventions to reduce economic, social, and political risks arising from extreme inequality.

India Context:

• India’s millionaire population grew by 6% in 2024.
• The number of billionaires in India reached 191.
• High concentration of wealth highlights the need for inclusive growth strategies alongside global financial governance.

Banking and Finance

1. RBI Flags Concern Over Elevated Bond Yields

Context

The Reserve Bank of India (RBI) has expressed concerns over persistently high 10-year government bond yields, even after policy rate cuts, and is engaging with market participants on possible interventions. The spread between India’s 10-year bond and the US 10-year Treasury has widened to roughly 244 basis points (bps), up from 219 bps at the start of 2025.

Key Highlights:

• Policy Rate vs. Bond Yields:
  • Despite a cumulative 100-bps repo rate cut between February and June, yields have not eased and have slightly risen since the 50-bps cut in June.
  • Benchmark 10-year government bond yield currently 6.53%, while US 10-year Treasury yield fell by 32 bps in the same period.
• Market Response:
  • RBI cancelled a 7-year bond auction last week due to higher yield demands from the market.
  • Market participants have requested open market operations (OMO) to inject liquidity and soften yields.
  • However, OMO announcement is unlikely in November, as the last tranche of June CRR cut is pending (scheduled end-November).
• Upcoming Auctions:
  • Focus on 10-year bond auction (₹ 32,000 crore) on November 8 for further yield cues.
  • Cut-off yield expected to rise by 3-4 bps from previous 6.48% coupon.
• Auction Methodology Requests:
  • Participants have suggested state government securities auctions adopt uniform pricing instead of the current multiple-price method to streamline market operations.
• Market Stress:
  • Banks are holding mark-to-market losses, reducing their Statutory Liquidity Ratio (SLR) holdings, making them cautious in bidding for additional bonds.

2. IBBI Circular Enables Restitution of Assets Attached by ED

Context

The Insolvency and Bankruptcy Board of India (IBBI) issued a circular on 4 November 2025 allowing insolvency professionals to file applications for the restoration of assets attached by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA). The move aims to maximize recovery for creditors, reduce friction between PMLA and Insolvency and Bankruptcy Code (IBC) provisions, and support the resolution of stressed companies.

Key Highlights:

• Purpose:
  • Attachment of assets by ED often discourages investors and hampers corporate rescue efforts.
  • The circular addresses conflicts between:
    • PMLA: Allows ED to attach assets linked to proceeds of crime.
    • IBC: Protects assets of a bankrupt firm during resolution or transfer to a new owner.
• Procedure for Restitution:
  • Insolvency professionals can file applications under Sections 8(7) or 8(8) of PMLA before special courts.
  • Courts may direct the government to restore confiscated assets to the corporate debtor.
  • A standard undertaking format has been prepared jointly by IBBI and ED.
• Conditions for Restituted Assets:
  • Assets cannot be sold or transferred to promoters, related parties, or anyone involved in the offence.
  • Assets cannot benefit individuals under ED investigation.
  • Insolvency professionals must submit quarterly status reports and cooperate with ED investigations.

3. Scapia & Federal Bank Launch Family Add-On Cards

Context

Bengaluru-based fintech Scapia, in partnership with Federal Bank, has introduced a first-of-its-kind Add-On Credit Card aimed at transparency, independence, and family-focused travel rewards.

Add-On Credit Card Feature

• Primary cardholders can now share credit limits and travel perks with up to three family members aged 18 or older.
• Features for add-on cardholders:
  • Independent app access
  • Direct OTPs for transactions
  • Personalised transaction visibility
• Shared benefits:
  • Earn and redeem Scapia Coins
  • Unlimited domestic lounge access
  • No forex fees upon meeting spend criteria
• Onboarding: Fully digital with instant virtual cards; physical cards delivered in 5–7 days.

Scapia Store – Travel-Focused Shopping Platform

• India’s first travel-centric online shopping platform.
• Offers products from brands like Columbia, Daily Objects, Tripole, Nasher Miles.
• Categories: Apparel, accessories, luggage, etc.
• Destination-based browsing: Products can be explored by travel destination, season, or trip type.

4. SBI Executes First Gold Trade as Special Category Client on IIBX

Context

State Bank of India (SBI) has marked a new chapter in India’s bullion trade by executing its first gold transaction as a Special Category Client (SCC) on the India International Bullion Exchange (IIBX), signalling a transformative shift towards greater efficiency and transparency in the precious metals market.

Key Highlights:

Landmark Transaction

• State Bank of India (SBI) executed its first gold transaction as a Special Category Client (SCC) on IIBX.
• Follows SBI’s earlier milestone in 2024, when it became the first bank to register as a Trading-cum-Clearing Member (TCM) on the platform.
• Signifies a transformative step in formalising India’s bullion trade.

Role of SBI as SCC

• Facilitates seamless bullion transactions, aiding importers, jewellers, bullion dealers, and MSMEs.
• Streamlines imports, reduces reliance on conventional channels, and promotes cost efficiency and transparency.
• Strengthens the government’s efforts to modernise the bullion trade and align with global compliance standards.

India International Bullion Exchange (IIBX)

• IIBX is India’s first electronic bullion trading platform, established to facilitate transparent, efficient, and formalized trading of precious metals such as gold and silver.
• It is located at GIFT City, Gujarat, India’s international financial services hub.

Purpose:

• To streamline bullion imports for jewellers, bullion dealers, and MSMEs.
• To reduce reliance on traditional, opaque trading channels and improve price discovery and liquidity.
• To align India’s bullion market with international standards.

Key Features:

• Electronic Trading: Enables digital transactions of gold, silver, and other precious metals.
• Special Category Clients (SCC): Banks like SBI can act as SCCs to facilitate bullion trading for businesses and market participants.
• Market Benefits: Improves transparency, efficiency, and competitiveness, and integrates India with the global bullion market.

5. Purple Finance Targets Small Finance Bank License

Source: FE

Context

Non-Banking Finance Company (NBFC) Purple Finance, founded in 2021, has announced its ambition to secure a Small Finance Bank (SFB) license by 2028. The company has rapidly expanded across multiple states, focusing on financial inclusion and small-town credit access.

Company Overview:

• Net Worth: Exceeds ₹100 crore
• Founded: 2021 by four entrepreneurs
• Presence: 44 branches across seven states — including Maharashtra, Madhya Pradesh, and Uttar Pradesh

RBI Criteria for Setting Up a Small Finance Bank (SFB)

Reserve Bank of India (RBI) – as per the Guidelines for Licensing of Small Finance Banks in the Private Sector (2019), under the Banking Regulation Act, 1949.

Objective of SFBs

Small Finance Banks are established to:

• Promote financial inclusion by providing credit access to unserved and underserved sections.
• Serve small business units, marginal farmers, micro and small industries, and unorganised sector entities.
• Encourage savings habits among rural and semi-urban populations.

Eligible Promoters

• Resident individuals / professionals with at least 10 years’ experience in banking and finance.
• Companies or societies owned and controlled by residents.
• Existing NBFCs, MFIs, and Local Area Banks (LABs) are also eligible to apply.
• Joint ventures not allowed; only one promoter group permitted.
• Fit and proper criteria: The promoter must have a clean track record and meet RBI’s fit and proper norms.

Minimum Capital Requirement

• Paid-up Capital: ₹200 crore (revised upward from ₹100 crore).
• Promoter’s Initial Contribution: Minimum 40% of paid-up capital, to be locked in for 5 years.
• To be reduced to 26% within 12 years from the date of commencement.

Promoter Contribution & Lock-in

• Initial promoter shareholding: Minimum 40% for first 5 years.
• Gradual dilution:
  • To 30% within 10 years,
  • To 26% within 12 years of operation.
• No single shareholder (other than the promoter) can hold more than 10%.

Scope of Activities

SFBs can:

• Accept deposits, including savings and recurring deposits.
• Provide loans and advances to small borrowers.
• Offer foreign exchange services, mutual fund distribution, and insurance products (subject to RBI approval).
• Not allowed to set up subsidiaries for non-banking financial services.

Prudential Norms

• Must comply with CRR and SLR requirements like other commercial banks.
• Priority Sector Lending (PSL):
  • At least 75% of Adjusted Net Bank Credit (ANBC) must go to priority sectors.
• Loan Size Limits:
  • Maximum 10% of total loans to a single borrower.
  • Maximum 15% of capital funds to a group of connected borrowers.

Financial Inclusion Mandate

• At least 25% of branches must be opened in unbanked rural centres.
• Focus must remain on small-ticket loans, including micro and agricultural lending.

Governance and Listing

• Must be registered as a public limited company under the Companies Act, 2013.
• Listing Requirement:
  • Mandatory listing on stock exchange within 3 years of net worth reaching ₹500 crore.

Transition from NBFC to SFB

For existing NBFCs (like Purple Finance) applying for an SFB license:

• Must meet fit and proper criteria, capital adequacy, and net worth requirements.
• Must submit a transition plan to convert into an SFB, including proposed restructuring and compliance roadmap.
• RBI conducts on-site and off-site due diligence before granting the license.

Agriculture

1. NABARD and CEEW Partner to Boost Climate-Resilient Agriculture

Source: NABARD

Context

The National Bank for Agriculture and Rural Development (NABARD) has signed a Memorandum of Understanding (MoU) with the Council on Energy, Environment and Water (CEEW), one of Asia’s leading policy think tanks.

Objective The collaboration aims to strengthen climate-resilient agriculture, scale up green rural financing, and promote sustainable livelihoods across India’s rural economy.

Key Highlights:

• Focus Areas: The partnership will work on developing scalable models for rural climate action through innovation, investment, and institutional strengthening.
• Climate-Resilient Agriculture: The initiative will support farmers and rural communities in adopting adaptive farming practices to mitigate risks from climate change.
• Green Rural Financing: NABARD and CEEW will jointly promote financing frameworks that encourage low-carbon and climate-smart rural projects.
• Sustainable Livelihoods: Efforts will target small and marginal farmers, rural women, and microenterprises to enhance income resilience and environmental sustainability.

2. Workshop on Soil Testing & Medicinal Herbs under Ministry of AYUSH

Context

A two-day national workshop on “Soil Testing and Management for Sustainable Cultivation of High-Quality Medicinal Herbs”, held on 27–28 October, organised by Patanjali Organic Research Institute (RCSCNRI-1) in collaboration with Patanjali Research Foundation and Patanjali University, with support from National Bank for Agriculture and Rural Development (NABARD).

Key Focus:

• Emphasis on soil testing technology (notably the “Dharti ka Rocker (Rikeri)” soil-testing machine) and organic cultivation practices to improve the yield and quality of medicinal herbs.
• Release of publications such as Swasth Dhara and Medicinal Plants: Innovation in Phytomedicines and Relevant Industries.
• NABARD’s participation highlighted its mission of supporting sustainable agriculture and rural enterprises.

Significance:

• Strengthens the link between traditional medicine systems and agriculture by enhancing the cultivation of medicinal herbs — a core focus area under the AYUSH ecosystem.
• Promotes technology adoption in the agronomy of medicinal plants, which is important both for wellness/AYUSH industry growth and for rural farmer livelihoods.
• Enhances NABARD’s role in financing and supporting rural innovation and high-value crops through institutional partnerships.

3. Lokal Launches AgriLokal to Empower Farmers with Vernacular Agri-Advisory Services

Source: BL

Context

Lokal, a vernacular digital products platform, has announced the launch of AgriLokal, an agritech initiative designed to bridge the knowledge gap in Indian agriculture by connecting farmers directly with expert agronomists in their local language.

Key Highlights:

• Purpose: AgriLokal aims to tackle key challenges in Indian agriculture, where nearly 80% of farmers lack formal agricultural training, leading to lower productivity and higher costs.
• Features: The platform allows farmers to receive instant, context-based guidance from agronomists on soil health, irrigation, pest control, and modern farming practices—without leaving their villages.
• Language Accessibility: The service operates in vernacular languages, ensuring that expert advice is easy to understand and act upon.
• Expected Impact: By providing on-demand expert support, AgriLokal is expected to improve yields, cut input costs, and accelerate scientific farming adoption across rural India.

Facts To Remember

1. Indian Navy Commissions Indigenous Survey Ship ‘Ikshak’ in Kochi

The Indian Navy today boosted its indigenous capabilities with the formal commissioning of the new survey vessel, ‘Ikshak’.

2. Minister Manohar Lal to Inaugurate Urban Mobility India Conference in Gurugram

Housing and Urban Affairs Minister Manohar Lal will inaugurate the three day Urban Mobility India Conference and Exhibition in Gurugram, Haryana.

3. Union Minister Amit Shah to Inaugurate Co-op Kumbh 2025 in Delhi

Union Minister of Cooperation Amit Shah will inaugurate the Co-op Kumbh 2025 - an International Conference on Urban Cooperative Credit Sector in New Delhi on the 10th of this month.

4. India Celebrates 150 Years of Its Iconic National Song, Vande Mataram

The country is celebrating the 150th anniversary of its national song, Vande Mataram.

5. PM Modi to Inaugurate National Conference on Legal Aid Delivery in Delhi

Prime Minister Narendra Modi will inaugurate the National Conference on Strengthening Legal Aid Delivery Mechanisms this Saturday in New Delhi.

6. MoS Harsh Malhotra Announces Namo Run Marathon as Part of Sansad Khel Mohatsav

Minister of State for Corporate Affairs Harsh Malhotra today announced that Namo Run Marathon will be organised as a part of Sansad Khel Mohatsav in New Delhi on the 16th of this month.

7. INS Savitri Hosts Visitors During Port Call in Mauritius, Strengthening India-Mauritius Ties

In a step to strengthen people-to-people ties between India and Mauritius, Indian Naval Ship (INS) Savitri

8. Khangchendzonga National Park Rated “Good” By IUCN, Only Indian Site With Positive Status

The International Union for Conservation of Nature (IUCN) recently rated Khangchendzonga National Park as "good" in its latest global review of natural World Heritage sites.

Daily Current Affairs Quiz
7 November, 2025

National Affairs

1. Centre Argues Right to Vote Not Same as Freedom of Voting

Source: The Hindu

Context

The Central government has informed the Supreme Court that the “right to vote” and the “freedom of voting” are distinct concepts under the Constitution and election law. This argument was made in response to a petition challenging provisions related to uncontested elections under the Representation of the People Act, 1951.

Key Issue

• The petition seeks to declare Section 53(2) of the Representation of the People Act, 1951, and Rule 11 read with Forms 21 and 21B of the Conduct of Elections Rules, 1961, as unconstitutional.
• These provisions allow a Returning Officer (RO) to declare candidates as duly elected without holding a poll if the number of candidates equals the number of available seats (uncontested elections).

Petitioners’ Argument

• Argued that automatic declaration without polling deprives voters of their freedom to express dissent by voting for ‘None of the Above’ (NOTA).
• They contended that this violates Article 19(1)(a) — the fundamental right to freedom of speech and expression.

Constitutional Provision

• The government distinguished between:
  • Right to vote – a statutory right, granted and regulated by law (Representation of the People Act).
  • Freedom of voting – an aspect of the fundamental right to free expression under Article 19(1)(a).
• The Centre argued that while freedom of voting may be a constitutional expression of choice, the right itself to vote is not inherent or fundamental, but rather conferred by statute.

Background on NOTA

• The NOTA (None of the Above) option, introduced in 2013 following a Supreme Court judgment, allows voters to express disapproval of all candidates while maintaining their secrecy of vote.
• The petition raises the question of whether NOTA should also apply to uncontested elections, where no polling currently occurs.

2. Justice in Food: EAT-Lancet Commission Report

Source: The Hindu

Context

The new EAT-Lancet Commission Report highlights how global food systems have become central to multiple environmental crises — from climate change and biodiversity loss to water pollution and nutrient imbalance. It calls for a just transition toward sustainable, equitable, and healthy diets that do not compromise affordability or cultural diversity.

Food Systems and Planetary Boundaries

• Food systems alone are responsible for five of the six breached planetary boundaries, making them a major driver of ecological degradation.
• They contribute about 30% of global greenhouse gas (GHG) emissions.
• Animal-based foods account for most agricultural emissions, while grain cultivation dominates nitrogen, phosphorus, and water use.
• The report warns that current agricultural practices leave a global nitrogen surplus more than double the safe ecological limit.

Key Drivers of Unsustainability

1. Inefficient nutrient use (nitrogen, phosphorus).
2. Overexploitation of freshwater for irrigation.
3. Rising livestock emissions.
4. Food waste and overproduction.
5. Policy incentives that promote resource-intensive output.

Global Outlook

Even with comprehensive interventions — such as cutting food waste, raising productivity, and shifting diets — the world may only partially return to planetary safety by mid-century. The Commission also questions the assumption of 127% global GDP growth in 30 years, noting that lower growth and worsening climate shocks may be more realistic scenarios.

India’s Food System Challenge

Diet Patterns and Nutritional Transition

• India’s diet remains cereal-heavy, largely due to procurement policies and public distribution priorities.
• Meeting EAT-Lancet 2050 benchmarks requires greater consumption of vegetables, fruits, pulses, nuts, and legumes.
• Such a shift could raise consumer prices, especially in import-dependent regions, threatening food affordability.

Affordability and Justice

• Justice in food systems entails making diverse, nutritious diets affordable while respecting cultural and regional food habits.
• Sudden dietary shifts could clash with religious, caste, and local preferences, as well as with state nutrition schemes (e.g., midday meals).

Supply-Side Imperatives

To ensure a sustainable and just transition, the report suggests:

• Reducing groundwater extraction and input-intensive practices.
• Promoting climate-resilient crops and soil regeneration.
• Shifting to renewable energy in cold chains and processing units.
• Reforming procurement and fiscal incentives to make minimally processed, local foods cheaper.

Governance and Structural Justice

Addressing Market Power

• Market concentration and corporate influence distort food systems and hinder equitable reform.
• Justice requires transparent governance, worker representation, and collective bargaining rights for farmers and small producers.

Strengthening Regulation and Accountability

• There is a need for stronger institutional safeguards ensuring that ecological and labour harms are prevented, not externalised.
• Consumers should have representation in food regulatory processes to check corporate capture.

Conclusion

The idea of justice in food extends beyond nutrition to encompass environmental integrity, equity, and cultural inclusion. India must reorient its food policy toward:

• Sustainable production,
• Affordable, diverse diets, and
• Democratic control over food systems.

The path to food justice lies not merely in changing what people eat, but in transforming how food is produced, distributed, and governed — ensuring that both people and the planet can thrive within safe ecological limits.

3. INS Ikshak

Source: PIB

Context

INS Ikshak, the third of the Survey Vessel Large (SVL), was commissioned into the Indian Navy in a ceremonial event at Naval Base, Kochi on 06 Nov 2025. The commissioning ceremony was presided over by Admiral Dinesh K Tripathi, the Chief of the Naval Staff.

Capabilities & Features of INS Ikshak

• Dual Role:
  1. Hydrographic survey vessel
  2. Platform for Humanitarian Assistance & Disaster Relief (HADR) or hospital ship
• Equipment: Advanced hydrographic and oceanographic systems; helicopter support.
• Inclusivity: First SVL with dedicated women’s accommodation.
• Strategic Role:
  • Enhances India’s hydrographic survey capability
  • Strengthens indigenous shipbuilding and Aatmanirbhar Bharat vision
  • Improves maritime safety and national security across key sea lanes

4. Universal Basic Income (UBI)

Source: TH

Context

As India faces deepening wealth inequality, rapid automation, and climate-induced displacement, the article argues for Universal Basic Income (UBI) as a central pillar of a modern welfare state. The author contends that UBI, long viewed as utopian, now represents a moral, economic, and democratic necessity for India’s future.

Why India Needs a Universal Basic Income

Socioeconomic Rationale

• India’s wealth inequality has reached historic highs.
  • Gini coefficient (wealth inequality): 75 (2023, World Inequality Database).
  • Top 1% own 40% of wealth; top 10% control 77%.
• Despite 8.4% GDP growth (2023–24), prosperity remains uneven.
• India ranks 126/137 in the World Happiness Report 2023, underscoring rising insecurity and inequality.
• GDP growth without equitable distribution leads to social stress, declining trust, and precarity.

Administrative and Ethical Advantages

• India’s welfare system is fragmented and inefficient, plagued by leakages, duplication, and exclusions.
• A UBI, built on Aadhaar and Direct Benefit Transfer (DBT) infrastructure, offers:
  • Simplified delivery of welfare.
  • Reduction of targeting errors and bureaucratic discretion.
  • Elimination of stigma tied to poverty-based entitlements.
• UBI anchors income security in citizenship, not employment or eligibility filters — transforming welfare into a rights-based social contract.

Economic Impact and Pilot Evidence

• Indian trials (SEWA, Madhya Pradesh, 2011–13): Showed gains in nutrition, schooling, and earnings.
• Global evidence: Finland, Kenya, Iran — improved mental health, food security, and work participation.
• Automation risk: Up to 800 million jobs could be displaced globally by 2030 (McKinsey Global Institute).
  • India’s informal and semi-skilled workforce is especially vulnerable.
  • A UBI can cushion structural unemployment and enable upskilling.

UBI as a Democratic Reform

Shifting the Citizen–State Relationship

• Current welfare is transactional and populist, driven by election-time freebies and subsidies.
• UBI redefines this relationship by:
  • Reducing partisan dependency.
  • Encouraging voters to demand governance outcomes (education, healthcare, law).
  • Replacing the politics of patronage with a politics of rights.

Promoting Dignity and Autonomy

• UBI supports unpaid and care labour, especially by women.
• It enhances individual agency and mental well-being, providing a baseline of dignity and security.
• The author argues UBI is not about dependency but expanding opportunity.

Implementation Challenges and Fiscal Concerns

Cost and Fiscal Feasibility

• A minimal UBI (₹7,620 per person/year) would cost ~5% of GDP.
• Possible funding mechanisms:
  • Rationalising subsidies.
  • Progressive taxation.
  • Controlled deficit spending.
• Inflation fears are overstated — past hyperinflations (Weimar, Zimbabwe) were not caused by modest cash transfers.

Phased Rollout

• Begin with vulnerable groups: women, elderly, disabled, and low-income workers.
• Gradually expand coverage based on fiscal capacity and infrastructure readiness.
• UBI should complement, not replace, essential programs like PDS and MGNREGA during early stages.

Digital and Institutional Gaps

• Despite Aadhaar and Jan Dhan, challenges persist in bank connectivity, digital literacy, and last-mile access, especially in tribal and remote regions.
• These must be bridged to ensure true universality.

5. UDAN (Ude Desh ka Aam Naagrik) Scheme

Context

The UDAN (Ude Desh ka Aam Naagrik) scheme, launched in 2016 to boost regional air connectivity and make flying affordable, is facing critical challenges in achieving its objectives. The programme aimed to connect smaller towns and promote regional development through enhanced air travel.

About UDAN (Ude Desh ka Aam Naagrik)

Launched: 2016 by Government of India.

Ministry: Ministry of Civil Aviation (MoCA).

Objective:

• Enhance regional air connectivity by making air travel affordable.
• Connect smaller towns and cities to major hubs, boosting economic development.

Key Features:

• Subsidized Fares: Capped airfares to make flying accessible to the common citizen.
• Viability Gap Funding (VGF): Financial support for airlines to operate on unprofitable regional routes.
• Airport Development: Focus on developing regional airports, particularly in underserved areas.
• Route Selection: Prioritizes routes with low connectivity and high regional importance.

UDAN 2.0

• Budget Announcement: The government promised 120 new destinations and 4 crore additional passengers over the next decade.
• Cautionary Note: Without a fundamental policy rethink, UDAN 2.0 risks creating more “white elephant” airports, wasting public funds, and failing to spur regional economic growth.

6. India Supports Afghanistan’s Kunar Dam

Source: TOI

Context

India has expressed support for Afghanistan’s plan to construct a dam on the Kunar River, a move that could significantly affect water availability in Pakistan.

• Geopolitical Significance:
  • Strengthens India-Afghanistan ties in the water and energy sector.
  • Potentially intensifies Pakistan’s water scarcity, adding a new dimension to regional water geopolitics.

About Kunar River

• Other Name: Known as the Chitral River in Pakistan.
• Origin: Chiantar Glacier, near the Pakistan–Afghanistan border in Gilgit-Baltistan.
• Length: Approximately 480 km.

Course & Flow

• Originates in Pakistan’s Chitral region.
• Enters Afghanistan through Kunar and Nangarhar provinces.
• Re-enters Pakistan to merge with the Kabul River near Attock.

Tributaries

• Major tributaries: Pech River and Lotkoh River.

Mouth

• Merges with Kabul River near Jalalabad (Afghanistan).
• Combined flow eventually joins the Indus River near Attock, Pakistan.

Key Features

• Transboundary River: Part of the Indus Basin system, shared by Pakistan and Afghanistan.
• Glacial Origin: Fed by snowmelt and glacial runoff, ensuring perennial flow.
• Strategic Importance: Vital for irrigation, drinking water, and hydropower in both countries.

Banking and Finance

1. Big Bank Pursuit: FM

Source: BS

Context

Union Finance Minister Nirmala Sitharaman confirmed that talks have begun with the RBI and public-sector banks (PSBs) on forming larger banking entities through potential mergers or other structural routes.

Objective To create world-class banks in India, strengthen the banking ecosystem, and support economic growth.

Public Sector Bank Consolidation

• Background:
  • Phase 1 (2018–20): 13 PSBs merged into 5; SBI merged with its associates and Bharatiya Mahila Bank.
  • Current status: India now has 12 PSBs, with only SBI in the top 50 global banks by assets.
• Rationale: Larger banks can compete globally, improve efficiency, and widen financial inclusion.
• Next Steps: Discussions ongoing with RBI and PSBs; the government has not yet given final approval.

Customer Engagement & Branch-Level Reforms

• FM stressed local language proficiency for branch staff to deepen customer connect.
• Emphasis on old-fashioned banking combined with digital innovation for better outreach.
• Performance appraisals may include efficiency in local language communication.

Credit & Lending

• Need to simplify loan processes and reduce paperwork burdens on borrowers.
• Banks should ensure credit availability and ease of access, promoting financial inclusion.

Financial Markets & Investor Awareness

• Govt. not banning Futures & Options (F&O) trading; focus on removing hurdles and educating investors.
• Stress on building financial literacy at the grassroots level for safer market participation.

Fiscal Prudence & Financial Inclusion

• Banks play a key role in economic Atmanirbharta through credit creation and financial inclusion.
• India now has 56 crore Jan Dhan Accounts, reflecting progress in inclusive banking.

2. SEBI Expands IPO Anchor Book Size to Boost Domestic Institutional Participation

Source: Mint

Context

The Securities and Exchange Board of India (SEBI) has amended its regulations to revamp the share allocation framework for anchor investors in initial public offerings (IPOs). The move is designed to enhance domestic institutional participation, particularly from mutual funds (MFs), insurance companies, and pension funds.

Increased Anchor Portion Reservation

• What changed: The total portion of shares reserved for anchor investors in an IPO has been increased from 33% to 40%.
• Breakup:
  • Mutual funds: 33%
  • Insurance companies and pension funds: 7%
• Reason: This ensures more participation from long-term institutional investors, while also prioritizing mutual funds if the 7% reserved for insurers/pension funds is not fully subscribed.

Simplified: More shares are reserved for anchor investors, and mutual funds get extra if insurance/pension funds don’t take their full share.

Higher Number of Anchor Investors

• What changed: For IPOs with a large anchor portion (> ₹250 crore), the number of anchor investors allowed is increased from 10 → 15 per ₹250 crore.
• Minimum and maximum:
  • Up to ₹250 crore: 5–15 investors
  • For every additional ₹250 crore (or part): 15 more investors, each getting at least ₹5 crore.

Simplified: Bigger IPOs now allow more anchor investors, reducing concentration and spreading investment among multiple long-term players.

Simplification of Discretionary Allotment

• What changed:
  • Earlier, discretionary allocation to anchors had two categories:
    • Category I: up to ₹10 crore
    • Category II: ₹10–250 crore
  • Now, both categories are merged into a single category for allocations up to ₹250 crore.
• Effect: Minimum 5 anchor investors, maximum 15, minimum allocation ₹5 crore each.

Simplified: The allocation process is easier and more uniform for anchors, avoiding complicated categories.

Regulatory Update

• These changes are part of ICDR (Issue of Capital and Disclosure Requirements) rules.
• Effective date: 30 November 2025

3. SEBI to Review Short Selling and Securities Lending Frameworks

Source: BL

Context

Markets regulator SEBI will set up a working group to conduct a comprehensive review of short selling and Securities Lending and Borrowing (SLB) frameworks. The move is aimed at improving transparency, efficiency, and market depth in India’s capital markets.

Background

• The short selling framework, introduced in 2007, and the SLB mechanism, launched in 2008, have remained largely unchanged since inception.
• Despite multiple tweaks, India’s SLB market remains underdeveloped compared to global peers, necessitating a structural review.

Key Details

Formation of Working Group

• SEBI Chairman Tuhin Kanta Pandey announced the plan during the CNBC-TV18 Global Leadership Summit.
• The group will undertake a holistic assessment of both frameworks to identify regulatory gaps and global best practices.

Securities Lending and Borrowing (SLB)

The Securities Lending and Borrowing (SLB) mechanism is a regulated framework that allows investors to lend or borrow shares (securities) for a specified period, usually to facilitate short selling, arbitrage, or to prevent settlement failures.

It was introduced in India in 2008 by SEBI through stock exchange platforms and is managed by clearing corporations to ensure safety, transparency, and guaranteed settlement.

How It Works

• Lender (Investor/Institution):
  • An investor who holds shares in their demat account can lend them through the exchange platform.
  • The lender earns a fee or interest (lending fee) for the period the shares are lent.
  • After the borrowing period ends, the same quantity of shares is returned to the lender.
• Borrower (Trader/Participant):
  • A market participant can borrow shares for purposes like short selling, hedging, or to avoid delivery failure in case of short positions.
  • The borrower must return the shares after the lending period expires.
• Exchange and Clearing Corporation:
  • The stock exchange acts as a platform for lending and borrowing transactions.
  • The clearing corporation acts as a guarantor, ensuring that both parties meet their obligations and the settlement happens smoothly.

About the SLB Mechanism

• Under SLB, investors or institutions can lend shares held in demat accounts to other market participants for a fee.
• These transactions are executed through stock exchanges, with the clearing corporation acting as a counter-guarantor.
• Borrowers use such securities mainly for short-selling or avoiding settlement failures.
• The system allows investors to earn passive income on idle shares, improving market liquidity and efficiency.

4. Insurance Brokers Seek ‘Zero-Rate’ GST

Source: Mint

Context

The Insurance Brokers’ Association of India (IBAI) is pushing for a zero-rated GST structure for insurance products, following the recent GST exemption on retail term and health insurance. The exemption blocked input tax credits (ITC), causing insurers to bear higher costs and trim broker commissions, potentially leading to higher premiums for customers.

Key Points

• Zero-Rate GST Proposal:
  • No GST on output, but input tax credit can be claimed.
  • Would remove the cascading tax burden on insurers and brokers.
  • Aims to align incentives, protect broker commissions, and maintain affordability for policyholders.
• Legal and Policy Considerations:
  • Currently, zero-rating with ITC is limited to exports and deemed exports.
  • Extending it domestically would require a major policy shift and could affect Centre-state revenue sharing.

What Zero-Rate GST Means

• No GST is charged on output (insurance premiums).
• Input tax credit can still be claimed on expenses (commissions, office rent, brokerage, etc.).
• Reduces cascading tax burden in the value chain.

5. Sebi to Streamline Processes

Source: BS

Context

The Securities and Exchange Board of India (Sebi) is taking measures to simplify the initial public offering (IPO) process, improve transparency, and prevent delays in listings. These reforms aim to make it easier for companies to raise capital while keeping investor interests protected.

Key Announcements by Sebi Chairman Tuhin Kanta Pandey

• Rationalisation of Offer Document:
  • Sebi plans to reduce the contents of the offer document summary for IPO-bound companies.
  • The summary will be available separately to investors, promoting informed decision-making and feedback.
• Streamlining Pledged Shares:
  • Companies with pre-IPO pledged shares will have an automatic enforcement framework to handle pledge invocation or release.
  • This is expected to prevent listing delays and improve market efficiency.
• Market-Determined Valuation:
  • Sebi does not determine IPO pricing; valuations are decided by the market and investors.
  • The regulator focuses on disclosure and information transparency, not price control.
  • This clarification comes amid debates around high-profile IPOs like Lenskart, valued at ₹70,000 crore.

Implications

• Improved efficiency and reduced regulatory friction for companies going public.
• Enhanced investor awareness through a clear and concise summary document.
• Market-driven pricing ensures transparency and reflects genuine investor sentiment.

6. SEBI Widens Net to Keep Investors Safe in Securities Markets

Source: TOI

Context

The Securities and Exchange Board of India (SEBI) has intensified efforts to curb online investment scams and protect retail investors amid rising instances of fraudulent financial promotions and fake trading platforms across digital spaces.

Key Development

• SEBI has formally written to major social media and search engine companies, urging them to adopt robust verification and monitoring mechanisms to prevent misuse of their platforms for securities frauds.
• This move aligns with the International Organization of Securities Commissions (IOSCO)’s global call for stricter online safeguards against financial harm to investors.

SEBI’s Key Requests to Digital Platforms

• Verification of Advertisers:
  Only SEBI-registered entities should be allowed to advertise investment products or services on social media or search engines.
• Distinct Labelling for Authentic Apps:
  Introduce a unique label or verification badge for genuine trading and investment apps on app stores to help users distinguish them from fraudulent ones.
• Prompt Implementation:
  SEBI urged these platforms to prioritize and fast-track the adoption of these measures for the Indian market.

Supporting Investor Protection Initiatives

To further enhance market safety, SEBI has recently launched:

• UPI Verification Feature:
  Investors can now verify if a UPI QR code used to transfer funds to a market intermediary is legitimate. SEBI has developed an app to facilitate this check.
• Intermediary Verification Tools:
  Investors can visit SEBI’s official website to confirm whether:
  • The app or platform they are using is registered with SEBI.
  • The market intermediary they are dealing with holds a valid SEBI registration.

Agriculture

1. WEF Launches ‘Shaping the Deep-Tech Revolution in Agriculture’ Report

Source: BL

Context

The World Economic Forum (WEF), in collaboration with leading stakeholders from industry and academia, has released a new insights report titled ‘Shaping the Deep-Tech Revolution in Agriculture’. The report aims to advance the integration of next-generation technologies into agriculture to enhance productivity, sustainability, and climate resilience across global food systems.

Released by: WEF’s Artificial Intelligence for Agriculture Initiative (AI4AI)

Key Deep-Tech Domains Identified

The report highlights seven deep-tech domains with the greatest potential to transform agricultural practices:

1. Generative Artificial Intelligence (AI) – for data-driven decision-making and crop prediction.
2. Computer Vision – enabling visual crop analysis and disease detection.
3. Robotics – for precision operations and autonomous fieldwork.
4. Edge Internet of Things (IoT) – to support real-time monitoring and local data processing.
5. Satellite-Enabled Remote Sensing – for large-scale climate and soil assessment.
6. CRISPR Technology – for developing climate-resilient and high-yield crop varieties.
7. Nanotechnology – for improving soil health, pest control, and nutrient delivery systems.

These technologies, when converged, can fundamentally alter how crops are grown, monitored, protected, and distributed.

High-Impact Use Cases

The WEF report showcases innovative applications of deep-tech across global agriculture, including:

• Climate-resilient rice varieties emitting 20% fewer greenhouse gases.
• Precision agriculture in sugarcane, improving yields by up to 40%.
• Remote sensing tools to anticipate supply chain risks and facilitate carbon finance for farmers.
• Autonomous swarm robotics, agentic AI systems, and precision farm management as emerging cross-domain solutions.

Strategic Recommendations

The report emphasizes a collaborative, cross-sectoral approach to scale these innovations:

• Stronger collaboration among industry, research institutions, and investors to pool expertise and manage early-stage technological risks.
• Government support through agile policy frameworks and regulatory sandboxes to adapt to rapid technological advancements.
• Investment in multidisciplinary ecosystems connecting science, finance, and policy to accelerate innovation and adoption.

About AI4AI Initiative

• Launched in 2021, WEF’s Artificial Intelligence for Agriculture Initiative (AI4AI) works to integrate emerging technologies into agriculture across regions.
• The initiative supports inclusive, sustainable, and efficient agricultural systems through data-driven innovation.
• Going forward, AI4AI will expand in India via a dedicated platform to promote knowledge exchange, collaboration, and best practice sharing among agritech stakeholders.

2. PRADAN Empowers 5 Lakh Rural Households to Earn Over ₹1 Lakh Annually in FY 2024–25

Source: BL

Context

The Professional Assistance for Development Action (PRADAN), a leading rural development organisation, announced significant progress in improving rural livelihoods and women’s empowerment across India. According to its press release dated November 6, 2025, PRADAN has enabled 5 lakh rural households to earn over ₹1 lakh annually in FY 2024–25 through sustainable, locally viable livelihood interventions.

Women-Led Collectives and FPOs

• PRADAN has promoted 93 women-led Farmer Producer Organisations (FPOs), uniting 1.43 lakh women shareholders.
• Additionally, 69 FPOs are supported through partnerships.
• Together, these collectives report an annual turnover of ₹1.2 billion, enhancing market access, income diversification, and agricultural inclusivity.

PRADAN’s FPO model is aligned with the Government of India’s “10,000 FPO Scheme”, fostering crop diversification and value-chain integration in pulses, oilseeds, vegetables, and fruit orchards.

Agriculture Production Cluster (APC) Programme

• The APC programme reached 8.13 lakh households via 9,609 producer groups.
• The initiative has built robust value chains and expanded soil moisture conservation and irrigation coverage, ensuring sustainable agricultural practices in collaboration with State governments.

Holistic Livelihood Diversification

According to Saroj Kumar Mahapatra, Executive Director, PRADAN, the organisation and its partners are currently working with 2.5 million households to:

• Diversify income sources across farm, off-farm, and non-farm activities.
• Promote climate-resilient livelihoods through innovation and collaboration with government and local institutions.
• Develop scalable models for long-term, sustainable change.

3. UPL Launches Global ‘#AFarmerCan’ Campaign Ahead of COP30

Source: BL

Context

UPL, a global provider of sustainable agricultural products and solutions, has launched a worldwide campaign titled ‘#AFarmerCan – The hero you don’t know you need’ ahead of the 30th United Nations Climate Change Conference (COP30) scheduled from November 10 to 21, 2025, in Belém, Brazil. The campaign seeks to position farmers as key climate heroes and advocates for their recognition in global climate policy dialogues.

Campaign Objective

The #AFarmerCan campaign highlights farmers’ central role in advancing climate resilience and sustainable development. It urges world leaders, policymakers, and consumers to acknowledge farmers as critical agents of change in the fight against climate change.

UPL’s Four-Pillar Incentive Framework for Farmer Resilience

As part of its advocacy at COP30, UPL has proposed a four-pillar incentive model to strengthen farmers’ economic and environmental resilience:

This framework aims to integrate economic incentives with sustainability goals, empowering farmers to become active contributors to climate solutions.

Facts To Remember

1. Govt. to Inaugurate ₹4-Crore Mist Spraying Project to Curb Air Pollution in Delhi

Amid Delhi’s deteriorating air quality, the Public Works Department (PWD) will soon install a mist spraying system in Anand Vihar, one of the city’s most polluted localities. The initiative aims to control dust and particulate pollution during peak smog season.

2. India Ranks Third Globally in Metro Connectivity: Minister Manohar Lal

Housing and Urban Affairs Minister Manohar Lal today said that India ranks third globally in metro connectivity.

3. Labour & Sports Minister Highlights India’s Social Development Achievements at ILO and NITI Aayog Sessions in Doha

Minister of Labour and Employment and Minister of Youth Affairs and Sports, Dr Mansukh L. Mandaviya, concluded his three-day visit to Qatar after representing India at the 2nd World Summit for Social Development in Doha.

4. Indian Hockey to celebrate its glorious 100 years with special events across the country today

Nationwide celebrations will commence today to commemorate 100 glorious years of Indian Hockey.

Daily Current Affairs Quiz
8 November, 2025

National Affairs

1. Google Announces Project Suncatcher

Source: IE

Context

Google has unveiled Project Suncatcher, a pioneering initiative to build AI-powered data centres in space to utilise uninterrupted solar energy and reduce the environmental impact of terrestrial data centres.

About Project Suncatcher

A Google-led research project to deploy solar-powered AI data centres aboard satellites, equipped with advanced TPUs (Tensor Processing Units) and connected through high-speed optical communication links.

Launched by: Google’s AI and Advanced Infrastructure Division, as part of its long-term climate sustainability and next-generation computing roadmap.

Aim of the Initiative

• To reduce the growing energy, water, and carbon footprint of Earth-based data centres.
• To harness continuous solar power available in space for 24x7 AI computation.
• To create a scalable, interconnected space-based computing network for high-volume AI workloads.

Key Features

• Solar-Powered Satellite Constellation:
  Solar panels in orbit generate energy up to 8× more efficiently than on Earth.
• Orbiting TPUs:
  High-performance Trillium v6e TPUs engineered to withstand radiation exposure in space.
• High-Speed Optical Links:
  Free-space optical communication providing multi-terabit per second data transfer rates between satellites.
• Prototype Launch (2027):
  Two test satellites planned for early 2027 to validate hardware, AI workloads, and optical communication.
• Scalable Architecture:
  Analytical models show satellites can operate within hundreds of meters of each other, forming cluster-style space data hubs.

2. Ethiopia to Adopt India’s Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM)

Context

Ethiopia has announced that it will adopt India’s Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) model to combat rural poverty and enhance women’s economic empowerment. This marks a significant recognition of India’s rural development approach at the global level.

About DAY-NRLM

India’s flagship rural poverty alleviation and women’s empowerment programme under the Ministry of Rural Development, focused on sustainable livelihoods, financial inclusion, and community-based institution building through Self-Help Groups (SHGs).

• Launched in: 2011 as National Rural Livelihoods Mission (NRLM) under Ministry of Rural Development, restructuring the earlier Swarnajayanti Grameen Swarozgar Yojana (SGSY).
• Renamed in: 2016 as Deendayal Antyodaya Yojana – NRLM (DAY-NRLM).
• Aim: To reduce rural poverty by enabling poor households—especially women—to access self-employment, skilled wage opportunities, credit, and community-driven livelihood support.

Background / Evolution

• Represents a shift from subsidy-based schemes to self-reliance and institution-building.
• Jointly funded by the Central and State governments.
• One of the largest community mobilisation programmes in the world, aligned with SDG 1 (No Poverty) and SDG 5 (Gender Equality).

Key Features of DAY-NRLM

3. Bangladesh joins UN Water Convention

Context

Bangladesh has become the first South Asian country to accede to the United Nations Convention on the Protection and Use of Transboundary Watercourses and International Lakes (UN Water Convention). The Convention, adopted in 1992, aims to promote equitable, sustainable and cooperative management of shared water resources. It was originally a regional treaty and became globally open to all UN member states in 2016.

About the Convention:

• Formally known as the Convention on the Protection and Use of Transboundary Watercourses and International Lakes (1992).
• Promotes equitable use, environmental protection, data sharing and dispute prevention related to shared rivers.
• Open to global membership since 2016.

Why Bangladesh Joined:

• Bangladesh depends heavily on transboundary rivers such as the Ganges, Brahmaputra and Meghna.
• The country faces serious hydro-climatic challenges, including floods, droughts and rising demand for water.
• Accession provides Bangladesh with a legal and multilateral framework to support water management and dispute resolution.

Potential Impact on India–Bangladesh Relations:

• Shift from Bilateralism:
  India traditionally prefers bilateral treaties for water-sharing negotiations. Since India is not a member of the UN Water Convention, Bangladesh’s move may create a new multilateral framework that alters negotiation dynamics.
• Negotiating Leverage:
  Being part of the Convention may allow Bangladesh to push for internationally recognised principles like equitable use and environmental sustainability. This could reduce India’s leverage in future river-sharing discussions.
• Regional Influence:
  Bangladesh’s accession could influence other South Asian countries to consider joining the Convention. This may gradually challenge India’s bilateral approach to water diplomacy in the region.

Why India is Concerned:

• India is not a party to the Convention.
• Prefers flexibility of bilateral treaties over binding multilateral norms.
• May face pressure to align with standards it has not formally accepted.

4. Economics and a Mamdani Model, Big Apple Style

Source: TH

Context

As 2025 concludes, Zohran Mamdani has been elected as the incoming Mayor of New York City (NYC). His welfare-focused agenda — including free public buses, rent freezes, and universal childcare — has reignited global debate on sustainable welfarism in market-based economies.

Key Highlights:

Global Return of Welfarism:

• Around the world, welfare-led politics is resurging — from Lula da Silva’s Brazil to Keir Starmer’s UK, and several Indian States under welfare-driven governance.
• Welfarism often reappears during periods of rising inequality or exclusive growth, as governments seek to ensure visible, equitable outcomes.

The Two Sides of Welfare:

• Advantages: Welfare policies deliver immediate social outcomes such as access to education, housing, and mobility.
• Challenges: Over time, they can lead to quality deterioration, inefficiency, and black markets when prices are pushed below cost.
  • Example: Free buses → poor maintenance; rent freezes → lower housing supply; free childcare → underfunded quality.

Balancing Rawls and Pareto:

• John Rawls’ principle: Judge society by the welfare of its least advantaged.
• Pareto principle: Efficiency is achieved when no one can be made better off without making someone worse off.
• The article argues that economies must oscillate between welfare protection and market liberalisation, a process Karl Polanyi termed the “double movement.”

The ‘Mamdani Model’: Towards Sustainable Welfarism

Chatterjee suggests creating a “Rawls–Pareto thermostat” — welfare systems that are compassionate during crises but efficiency-oriented as capacity grows.

Key features:

• Subsidise outcomes, not inputs: Selective fare caps, transparent contracts (e.g., Singapore’s Bus Contracting Model).
• Use automatic, means-tested vouchers: Adjust support dynamically during economic shocks.
• Ensure fiscal honesty: Transparent funding, productivity-linked reforms, and public investment to expand supply.
• Engage mission-driven enterprises: Public–private partnerships that blend profit with social objectives (e.g., Aravind Eye Care, Bolsa Família).

Fiscal and Social Discipline:

• Welfare must be fiscally sustainable, transparently costed, and supported by growth measures.
• Users should be treated as customers with recourse, and suppliers as partners with accountability through open data, service audits, and grievance mechanisms.

Banking and Finance

1. World Bank’s Financial Sector Assessment (FSA) 2025

Source: BL

Context

The World Bank’s Financial Sector Assessment (FSA) 2025, conducted jointly with the IMF under the FSAP framework, reviewed India’s financial system, highlighting achievements since 2017 and recommending reforms for future growth.

Key Findings:

• Resilience and Inclusion: India’s financial system is more resilient, diversified, and inclusive. Public digital infrastructure and government programmes have improved access to accounts, credit, insurance, and pensions.
• Private Sector Mobilisation Needed: The State still plays a dominant role. Reducing the footprint of state-owned financial institutions (SOFIs) and removing exemptions for state-owned NBFCs could improve efficiency and attract private capital.
• Financial Sector Growth: Total financial sector assets reached 187% of GDP in 2024. NBFIs and market financing grew faster than banks, now accounting for 44% of sector assets (up from 35% in 2017).

Institutional Observations:

• SOFIs—including public banks, development finance institutions, regional rural banks, NBFCs, and public insurers—remain significant but their share is declining.
• Public credit support programmes, such as priority sector lending (PSL), influence credit allocation.
• Stress tests show broad resilience to macro-financial shocks, though some tail risks remain.

Emerging Risks and Recommendations:

• NBFI Exposure: Large NBFCs have significant exposure to the energy sector. Distress could spill over to banks, mutual funds, and corporate bond markets.
• Macroprudential Tools: Introduce borrower-based measures, Debt Service to Income (DSTI) limits, and counter-cyclical capital buffers (CCyBs) for banks.
• Regulatory Governance: Clarify the primacy of supervisory safety and soundness versus investor protection mandates; strengthen SOFI governance and internal controls.
• Coordination & Scope: Improve regulator coordination to handle conglomerate supervision, cybersecurity, and climate-related financial risks.
• Support for Corporate Bonds: RBI could include corporate bonds (with haircuts) as collateral in crisis facilities to develop market financing.

2. IBBI Proposes Mandatory Disclosure of Beneficial Ownership for Insolvency Bidders

Source: BS

Context

The Insolvency and Bankruptcy Board of India (IBBI) has proposed a stricter disclosure framework requiring bidders under the Corporate Insolvency Resolution Process (CIRP) to declare their Ultimate Beneficial Ownership (UBO). The reform aims to prevent misuse of IBC’s clean slate provision, strengthen due diligence, and ensure transparency in the resolution ecosystem.

Mandatory UBO Disclosure

• Prospective Resolution Applicants (PRAs) must reveal all natural persons who exercise ultimate ownership, control, or significant influence over the bidding entity.
• PRAs must also provide details of all intermediate entities, including jurisdiction, ownership structure, and control pathways.

Framework Aligned with RBI Norms

• The disclosure template is modelled on RBI’s updated UBO guidelines, ensuring regulatory uniformity across the financial system.
• Helps harmonize ownership reporting under insolvency, banking, and financial markets.

Section 32A Affidavit Requirement

• PRAs must submit an affidavit confirming eligibility under Section 32A of IBC, which grants immunity to a company (post-resolution) from prosecution for offences committed prior to the CIRP.
• Aims to stop benami, proxy, conflicted, or promoter-linked bidders from misusing the immunity provision.

Exemption for Listed Entities

• Listed companies and their subsidiaries may receive a relaxed disclosure regime because they already comply with SEBI’s detailed ownership reporting norms.

Strengthened Due Diligence for RPs & CoC

• Enhanced disclosures will enable Resolution Professionals (RPs) and Committees of Creditors (CoC) to conduct deeper due diligence.
• Improves credibility, integrity, and governance standards in bidder evaluation.

New Measures for Cases Involving Financial Crimes

• IBBI has empowered RPs to approach special PMLA courts when insolvency cases overlap with money laundering or financial crime.
• RPs must provide an undertaking ensuring restituted assets benefit creditors only, preventing diversion to promoters or accused persons.

3. India Retains Cap on Voting Rights for Large Shareholders in Banks

Source: BS

Context

India plans to maintain existing limits on voting rights for large shareholders in domestic banks, even as the government works to attract more foreign investment and liberalise the financial sector. This signals that reforms will remain cautious in scope.

Key Highlights:

• Voting Rights Caps:
  • Private banks: A single shareholder cannot exercise more than 26% of voting rights, even if ownership is higher.
  • Public sector banks: Cap is 10%.
• Government Decision:
  • Finance Ministry and RBI considered relaxing the cap to give large shareholders more influence in strategic decisions.
  • Decided against it to prevent excessive control by any single investor.
  • Safeguards aim to ensure no shareholder can make unilateral decisions.
• Foreign Investment:
  • RBI has eased rules for foreign investors to hold large stakes in Indian banks.
  • Government plans to increase foreign investment limit in state-owned banks to 49%, though voting rights caps will remain.
  • Recent foreign transactions include Emirates NBD acquiring 60% of RBL Bank and Sumitomo Mitsui Banking Corp investing in YES Bank.
• Market Implications:
  • Voting limits may deter investors seeking controlling stakes, but high foreign interest and strong secondary market for stakes indicate confidence in India’s banking sector.
  • Government seeks a majority investor for IDBI Bank, expected by March 2026.

Agriculture

1. FAO Releases ‘The State of Food and Agriculture 2025’ Report

Context

The Food and Agriculture Organization (FAO) has released its flagship report, The State of Food and Agriculture 2025, titled “Addressing Land Degradation Across Landholding Scales.” The report highlights how human-induced land degradation is undermining global food production, soil health, and climate resilience.

About the Report

• What it is:
  An annual flagship publication assessing global agricultural and food systems performance.
• Published by:
  Food and Agriculture Organization (FAO), Rome (2025).
• Aim:
  To examine human-induced land degradation and its impact on productivity, livelihoods, and environmental sustainability, while guiding policies to avoid, reduce, and reverse degradation across landholding scales.

Key Findings of the Report

• Global Cropland Decline: Nearly 20% of global cropland shows declining productivity due to soil erosion, nutrient depletion, and organic carbon loss—worst in Asia, Africa, and Latin America.
• Severe Regional Yield Gaps: Yield gaps for 10 major crops reach up to 70% below potential levels in sub-Saharan Africa and South Asia due to poor soil fertility and input shortages.
• Soil Organic Carbon Loss: Falling SOC levels are reducing water retention and microbial activity, increasing vulnerability to droughts and floods.
• Smallholder Vulnerability: Farms under 2 hectares constitute 84% of global farms but hold only 12% of farmland, restricting their access to finance and technology.
• Large Farm Pressures: The top 1% of farms control over 70% of agricultural land, often causing degradation through monocropping yet possessing more restoration resources.
• Land Abandonment: From 1992–2015, 60 million hectares of cropland were abandoned globally, mainly in Eastern Europe, Central Asia, and South America.
• Climate–Degradation Nexus: Degraded soils emit significant GHGs, diminishing carbon sequestration and slowing progress toward SDG 15.3 (Land Degradation Neutrality).

Successes Identified

• Land Degradation Debt Model: A new machine-learning model reveals 30% tree cover loss, 20% biomass carbon loss, and a fourfold rise in soil erosion, offering the most accurate global assessment so far.
• Economic Cost Assessment: Land degradation costs the world about USD 300 billion annually, with most losses arising from land-use and cover changes—positioning land restoration as a vital public investment.
• Yield Gap–Risk Correlation: A 10% rise in degradation debt worsens yield gaps by 2%, especially in Southeast Asia and Western Europe.
• Multi-Scale Policy Framework: Using GAEZ v5 datasets, the report links degradation data to farm-size structures, enabling targeted interventions for both smallholders and large farms.

Gaps and Failures

• Weak Monitoring Capacity: Low-income nations lack satellite and technical monitoring systems, unlike successful models such as Inner Mongolia’s grazing management.
• Inadequate Finance & Coordination: Despite USD 19 billion pledged under initiatives like the Great Green Wall, donor fragmentation and weak project alignment hinder results.
• Poor Integration with Climate & Livelihood Goals: Restoration projects rarely align with SDG 13 (Climate Action) and SDG 8 (Decent Work), limiting inclusivity and community benefits.
• Limited Indigenous Involvement: Indigenous stewardship—effective in East African pastoral zones and Latin American forests—remains marginal in national strategies.

Key Challenges

• Land Inequality: Top 1% farms control 70% of farmland, restricting equitable access to restoration funds.
• Investment Deficit: Only 15% of agricultural investment targets sustainable land management.
• Policy Fragmentation: Poor coordination among land, water, and energy policies causes inconsistent implementation.
• Data Gaps: Weak monitoring of soil carbon, biodiversity, and erosion affects SDG 15.3 tracking.
• Climate Shocks: Recurrent droughts and floods are accelerating land degradation in semi-arid regions.

FAO Recommendations

• Scale-Specific Interventions:
  • Payments for ecosystem services (PES) for smallholders.
  • Stricter regulation of fertilizer and monocropping in large commercial farms.
• Strengthen Investment in Restoration:
  Promote carbon farming, regenerative agriculture, and public-private partnerships.
• Empower Local & Indigenous Communities:
  Integrate gender-inclusive, community-led restoration into national programs.
• Improve Global Monitoring:
  Establish a real-time Global Land Degradation Data Hub using remote sensing and field data.
• SDG Alignment:
  Integrate restoration planning with SDG 2 (Zero Hunger), SDG 13 (Climate Action), and SDG 15 (Life on Land).

Facts To Remember

1. Raahul wins ASEAN championship, becomes India’s 91st Grandmaster

Chennai’s V.S. Raahul became India’s 91st Grandmaster by winning the sixth ASEAN individual chess championship at Ozamiz City, the Philippines, on Friday, with a round to spare.

2. China Commissions Third Aircraft Carrier ‘Fujian’ to Expand Naval Power

China has officially commissioned its third aircraft carrier, Fujian, after successful sea trials. The commissioning ceremony was held at a naval base in Hainan Province and attended by President Xi Jinping. This marks a major step in China’s efforts to modernize its navy and project power beyond its regional waters.

Advanced Technology:

• Fujian introduces an Electromagnetic Aircraft Launch System (EMALS) — a cutting-edge technology also used in the U.S. Navy’s Ford-class carriers.
• This system replaces traditional steam catapults and offers precise speed control, reduces mechanical stress, and allows launch of a wider variety of aircraft.
• The adoption of EMALS signals China’s leap toward next-generation carrier operations.

3. Indian Army’s Southern Command Conducts Tri-Services Exercise TRISHUL to Strengthen Joint Operations

Indian Army’s Southern Command is participating in a series of Tri-Services exercises to validate full-spectrum land-sea-air integration embodying the mantra of JAI - Jointness, Atmanirbharta and Innovation in action under Exercise TRISHUL.

4. VP C.P. Radhakrishnan Hails Gyan Bharatham Mission, Praises Classical Language Status for Prakrit

Vice-President C.P. Radhakrishnan today lauded the Government’s Gyan Bharatham Mission for preserving Jain manuscripts and praised the move to grant Classical Language status to Prakrit.

5. NHAI Launches Lavender Plantation Along Jammu-Srinagar Highway to Boost Aesthetics and Aroma Tourism

The National Highways Authority of India (NHAI) has started a unique initiative of lavender plantation along a 16-kilometre stretch of the Jammu-Srinagar National Highway between Banihal and Qazigund.

6. Indian Navy to Celebrate Navy Day with Mega Operational Demonstration in Thiruvananthapuram

The Indian Navy will celebrate Navy Day with a spectacular Operational Demonstration on the 4th of next month in Thiruvananthapuram.

7. Union Minister Manohar Lal Highlights Citizen-Centric Urban Transformation at National Urban Conclave 2025

Housing and Urban Affairs Minister Manohar Lal today said that urbanisation is the pathway to Viksit Bharat.

8. India Reaffirms Climate Commitment at COP 30

India’s Ambassador to Brazil, Dinesh Bhatia, has reaffirmed India’s climate commitment, saying that the country is ready to work with all nations to achieve an ambitious, inclusive, fair, and equitable transition to sustainability.

Daily Current Affairs Quiz
9 & 10 November, 2025

National Affairs

1. India to Join Tropical Forest Forever Facility Ahead of COP30

Source: TH

Context

Ahead of COP30 in Belém, Brazil, India announced that it will join the Tropical Forest Forever Facility (TFFF) as an observer. The TFFF is a global initiative designed to mobilise finance to protect tropical forests and curb carbon emissions.

Key Highlights:

• TFFF Mechanism: Countries with tropical forests receive annual payments for maintaining forest cover.
• Investment Fund: The Tropical Forest Investment Fund will invest sponsor money in emerging market bonds while avoiding fossil fuels, coal, and sectors linked to deforestation.
• Global Participation: The announcement came at the Leaders’ Summit in Belém, attended by heads of state including Brazil, France, South Africa, the UK, Norway, and the EU.
• India’s Role: As an observer, India will participate in discussions on forest conservation finance and sustainable climate action.
• Climate Commitments: India is expected to announce updated Nationally Determined Contributions (NDCs) outlining plans to reduce fossil fuel emissions by 2035.

About TFFF:

• A global initiative aimed at mobilising finance to protect tropical forests.
• Focuses on curbing carbon emissions and promoting sustainable forest management.

COP30 – United Nations Climate Change Conference

• Full Form: Conference of the Parties (COP) 30th session.
• Location & Dates: Belém, Brazil; ongoing in November 2025.
• Key Themes for 2025:
  • Rising global CO₂ levels: Reported 423.9 ppm in 2024, signaling escalating climate risks.
  • Energy transition: Push for renewable energy amid counter-trends like new coal plants in China and India.
  • Sustainable transport: Growth of electric vehicles (EVs) and challenges due to geopolitical supply constraints.
  • Climate finance: Urgent need for funding to enable green technology adoption, especially for developing countries.

2. Interstellar Object 3I/ATLAS

Source: ET

Context

The mysterious Manhattan-sized interstellar comet 3I/ATLAS has once again surprised scientists as new images appear to have no cometary tail in new images. Photographs taken by the R. Naves Observatory in Spain on Nov.

Discovery and Background:

• Name: 3I/ATLAS, the third known interstellar object passing through our solar system.
• Discovery Date: July 1, 2025
• Discovering System: Asteroid Terrestrial-impact Last Alert System (ATLAS) – a US-based global early warning network with telescopes in the US, Chile, and South Africa.

Recent Observations:

• Shape & Color Changes: The object is changing shapes and emitting varying colors, causing confusion about its nature.
• Tail Missing: Latest images from R. Naves Observatory, Spain (Nov 5, 2025) show no visible cometary tail, contrary to expectations as it nears the Sun.
• Nature and Size: Interstellar object, roughly Manhattan-sized, Its trajectory and behavior are unusual, suggesting it is not a typical solar system comet.
• Comet: A comet is a small celestial body in the solar system made mostly of ice, dust, and rocky material. They are often called “dirty snowballs” because of their composition.

3. PM Inaugurates 150 Years of “Vande Mataram” Celebrations

Source: News on Air

Context

On 7 November 2025, the Prime Minister of India inaugurated the year-long national celebrations marking 150 years of the National Song “Vande Mataram” in New Delhi.
The celebrations (2025–26) aim to reconnect citizens—especially the youth—with the historical, cultural, and spiritual power of the song.

About 150 Years of Vande Mataram

A national commemorative initiative to honour 150 years of the song “Vande Mataram”.
The programme highlights how the song inspired India’s freedom struggle and represented the idea of a united Motherland.

Origin of Vande Mataram

• Written by: Bankimchandra Chatterji
• Date written: 7 November 1875 (Akshaya Navami)
• First appearance: In the journal Bangadarshan as part of the novel Anandamath.
• The song portrayed India as a divine, strong, and nurturing Mother.

Historical Importance

• First public singing: Rabindranath Tagore at the 1896 Calcutta Congress Session.
• The verses like “Sujalam, Sufalam, Malayaja Sheetalam” praised India’s natural beauty and moral richness.
• The song evolved from a literary piece into a national call for freedom.

Constitutional Status

• In 1950, the Constituent Assembly gave “Vande Mataram” equal honour as the National Anthem of India.
• It stands as a symbol of unity, cultural identity, moral strength, and courage.

About the Vande Mataram Movement (Gulbarga, Karnataka)

A regional freedom movement in Hyderabad-Karnataka (now Kalyana Karnataka) in 1948, inspired by the slogan “Vande Mataram”, to resist the Nizam’s rule.

4. INS Sahyadri Joins Quad’s Malabar Exercise at Guam

Source: PIB

Context

The Malabar naval exercise involving the Quad countries (India, US, Japan, Australia) begins Nov 10-18, 2025 in the western Pacific near Guam. This is the 29th edition of the Malabar exercise, originally a bilateral India-US exercise in 1992, now expanded to include all Quad members.

Participating Naval Assets:

• India: INS Sahyadri – guided-missile stealth frigate
• US: USS Fitzgerald – Aegis guided-missile destroyer
• Australia: HMAS Ballarat – Anzac-class frigate
• Japan: JS Hyuga – helicopter destroyer

Exercise Phases:

1. Harbour Phase (Nov 10-12):
   • Operational planning & discussions
   • Alignment on communication protocols
   • Familiarisation visits between navies
   • Sports fixtures
2. Sea Phase (Nov 13-17):
   • Joint fleet operations drills
   • Anti-submarine warfare exercises
   • Gunnery serials
   • Flying operations

5. First BIMSTEC–India Marine Research Network (BIMReN) Conference Held in Kochi

Source: News on Air

Context

Kochi hosted the first BIMSTEC–India Marine Research Network (BIMReN) Conference from 4–6 November 2025.
This marks an important step toward regional cooperation in blue economy, marine science, and ocean sustainability among Bay of Bengal countries.

About the BIMSTEC–India Marine Research Network (BIMReN)

What is BIMReN?

A biennial regional platform under the BIMSTEC framework that promotes:

• Joint marine research
• Sustainable fisheries management
• Blue economy development
• Scientific cooperation among India and BIMSTEC members

It connects marine scientists, policymakers, and research institutions across the region.

When Was It Announced?

• First announced: By the Prime Minister of India at the Colombo BIMSTEC Summit, 2022
• Officially launched: In 2024 by the Ministry of External Affairs (MEA)
• First conference: Hosted by India (Kochi) from 4–6 November 2025

Aim of BIMReN

To strengthen marine research cooperation in the Bay of Bengal region by:

• Promoting sustainable use of marine resources
• Supporting blue economy policies
• Improving ocean observation and scientific data
• Enhancing capacity building among BIMSTEC nations

This aligns with India’s:

• Neighbourhood First Policy
• Act East Policy
• Indo-Pacific Vision
• MAHASAGAR (Marine) Strategy

6. Prime Minister Internship Scheme (PMIS)

Source: BS

Context

The Ministry of Corporate Affairs (MCA) is working to refine the Prime Minister Internship Scheme (PMIS) to enhance its appeal and ensure a successful launch in the current financial year.

Objective The revision aims to make the scheme more youth-friendly, inclusive, and aligned with industry skill requirements.

What is the PM Internship Scheme?

• The PMIS is an initiative by the Ministry of Corporate Affairs (MCA) launched in the Union Budget 2024-25 to provide youth with industry experience.
• Launch date: 3 October 2024.
• Implementing ministry (nodal ministry): Ministry of Corporate Affairs (Government of India).
• Goal: Provide 1 crore (10 million) internship opportunities over five years with India’s top companies.
• Pilot phase launched in October 2024.

Key Features of the Scheme

• Internship Duration: 12 months, of which at least half must be in a real-work/industry environment.
• Companies Involved: Internship placements in top 500 firms across sectors like manufacturing, banking, travel, etc.
• Monthly Stipend & Grant:
  • Monthly stipend: ₹ 5,000 (₹ 4,500 by government + ₹ 500 from company CSR)
  • One-time grant: ₹ 6,000 at joining.
• Insurance Cover: Interns are covered under schemes like Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY).
• Geographical Reach: Across 700+ districts, with efforts to make the scheme accessible to weaker sections and remote areas.

Eligibility & Application

• Indian citizens, aged 21-24 years.
• Must not be in full-time education or full-time employment (but distance/online learning may be allowed).
• Educational qualifications: minimum 10th pass, 12th pass, or certificate/diploma/degree (ITI, polytechnic, graduation) depending on stream.
• Family income criteria: Often reported as less than ₹ 8 lakh per annum.

Funding & Budget:

• FY25: Allocated ₹2,000 crore in Budget Estimates (BE), revised to ₹380 crore in Revised Estimates (RE).
• FY26: Allocated ₹10,831 crore.

7. Tribunal Reforms Act, 2021

Context

The Supreme Court expressed strong dissatisfaction after the Union Government repeatedly sought adjournments in the case related to the Tribunal Reforms Act, 2021.
The Court said the matter concerns judicial independence and cannot be delayed any further.

About the Tribunal Reforms Act, 2021

The Tribunals Reforms Act, 2021 (enacted on 13 August 2021) aims to streamline and reorganize India’s tribunal system.
It replaced the Tribunals Reforms Ordinance, 2021 and brought all rules about appointments, tenure, service conditions, and removal of tribunal members into one law.

The Act also abolished several tribunals and shifted their functions to High Courts to reduce overlap and improve efficiency.

Aim of the Act

• To reduce delays by bringing tribunal cases under High Courts.
• To ensure uniform rules for appointments and service conditions.
• To limit excessive executive control and promote judicial accountability.
• To improve administrative efficiency by reducing fragmentation.

8. Khangchendzonga National Park Rated “Good” in IUCN World Heritage Outlook 2025

Context

The International Union for Conservation of Nature (IUCN) has rated Khangchendzonga National Park (Sikkim) as “Good” in its 2025 global review of natural World Heritage Sites.
It is India’s only site to receive a positive conservation status this year.

About the IUCN Rating

A part of the IUCN World Heritage Outlook 2025, which assesses how well natural World Heritage Sites are conserved.
It checks:

• Biodiversity health
• Management quality
• Threats and climate resilience

About the IUCN Outlook Programme

• Tracks the condition of 252 natural heritage sites worldwide.
• Sites are rated as:
  • Good
  • Good with Some Concerns
  • Significant Concern
  • Critical

Khangchendzonga National Park is the only Indian site in 2025 to receive a “Good” rating, reflecting strong conservation and cultural management.

About Khangchendzonga National Park

A UNESCO World Heritage Site (2016) and India’s first “mixed” heritage site, honoured for:

• Its natural beauty, and
• Its cultural and spiritual significance, especially the traditions of the Lepcha community.

Location

• Located in North and West Sikkim.
• Covers 1,784 sq km, almost 40% of Sikkim’s land area.
• Lies along the India–Nepal border.
• Home to 280 glaciers and 70+ glacial lakes.
• Important ones include Zemu Glacier and Tso Lhamo Lake.

Banking and Finance

1. Digital Gold/E-Gold Products

Source: Indian Express

Context

The Securities and Exchange Board of India (Sebi) has issued a public warning regarding digital gold or e-gold products sold online. The alert comes as gold prices near all-time highs, triggering increased interest in digital gold.

Digital Gold or e-Gold Products

Digital gold (or e-gold)** refers to gold purchased online in electronic form, stored securely by the provider on behalf of the investor. The value of digital gold is directly linked to live market rates of physical gold (usually 24K, 99.9% purity).

Investors can buy or sell even small quantities (as low as ₹1), without needing physical storage.

Who Offers Digital Gold?

Digital gold in India is offered mainly by:

1. MMTC-PAMP (Govt–Swiss JV; one of the largest refiners)
2. AUGMONT Gold
3. SafeGold

These providers partner with payment apps and platforms like:
– PhonePe
– Google Pay
– Paytm
– Amazon Pay
– Tanishq (via its DigiGold)

Note: Digital gold is not regulated by SEBI or RBI. It operates under general consumer protection and KYC norms.

Key Features

• Small-ticket Investment
  • Buy gold starting from ₹1 or 0.01 grams, making it accessible for all income groups.

• 24K High Purity
  • Backed by 99.9% pure gold stored in vaults.

• Safe Storage
  • Gold purchased is stored in insured vaults by the provider.

• Liquidity (Buy/Sell Anytime)
  • Investors can sell digital gold instantly at live market prices.

• Option for Physical Delivery
  • Investors can convert digital gold to physical gold (coins/bars).
  • Delivery charges + GST apply.

• No Demat Required
  • Held in the provider’s digital ledger or wallet.

How Digital Gold are Regulated?

• Regulatory Status:
  • Digital/e-gold products are not government-permitted securities.
  • They do not fall under Sebi’s regulatory purview.
  • Investors in such products cannot access investor protection mechanisms under Sebi.
• Comparison with Regulated Gold Products:
  • Sebi regulates:
    • Exchange-traded commodity derivative contracts on gold
    • Gold ETFs offered by mutual funds
    • Electronic Gold Receipts (EGRs) traded on stock exchanges
  • These can be purchased through Sebi-registered intermediaries and are governed by Sebi’s framework.

Advantages

• Easy, convenient method to accumulate gold
• No need for personal locker or storage
• High purity and transparent pricing
• Good for systematic gold saving
• Option to convert to physical gold when needed (e.g., jewellery)

Disadvantages / Risks

1. No SEBI or RBI Regulation

Digital gold is outside formal financial regulation, unlike:
– Sovereign Gold Bonds (SGBs)
– Gold ETFs
– Gold Mutual Funds

2. Storage Time Limit

Most platforms allow 5 years of free storage; after that, delivery or transfer is needed.

3. Higher Costs

Premiums, GST (3%), and delivery charges increase the overall cost.

4. Counterparty Risk

Risk lies with provider stability (MMTC-PAMP/SafeGold/Augmont).

Comparison: Digital Gold vs SGB vs Gold ETF

2. Open Market Operations (OMO)

Context

The Reserve Bank of India (RBI) has advised state governments to reschedule market borrowings to ease supply pressure in the bond market amid rising yields. This guidance comes ahead of expectations that RBI will announce an Open Market Operations (OMO) calendar in its December 5 policy review.

Open Market Operations (OMO)

Open Market Operations (OMOs) are monetary policy tools used by the Reserve Bank of India (RBI) to regulate liquidity (money supply) in the financial system through buying or selling government securities (G-secs) in the open market.

Why RBI Uses OMOs

• Control Inflation – By reducing excess liquidity.
• Support Growth – By injecting liquidity when markets face a shortage.
• Manage Bond Yields – To ensure stable borrowing costs for the government.
• Maintain Financial Stability – Prevent market volatility and liquidity stress.

How OMOs Work

1. OMO Purchase (Liquidity Injection)

RBI buys government securities from banks.

• Money flows into the banking system
• Liquidity increases
• Interest rates fall
• Useful during economic slowdown or when liquidity is tight

2. OMO Sale (Liquidity Absorption)

RBI sells government securities to banks.

• Money flows out of the banking system
• Liquidity decreases
• Interest rates rise
• Used when inflation is high or liquidity is excessive

Types of OMOs

1. Outright OMOs
   • Permanent purchase/sale of G-Secs.
   • Long-term impact on liquidity.
2. OMO Switch/Operation Twist
   • RBI buys long-term bonds and sells short-term bonds simultaneously.
   • Used to manage the yield curve.
3. Special OMOs
   • Conducted during extraordinary market stress (e.g., COVID period).

3. CASA Dynamics in Indian Banking!

Source: BS

Context

• Indian banks are facing an asset-liability tug-of-war.
• Assets: Loans and investments.
• Liabilities: Deposits and capital.
• Current trend: Credit growth has outpaced deposit growth, pressuring banks’ net interest margin (NIM).

What is CASA?

CASA (Current Account Savings Account) deposits refer to low-cost funds that banks mobilize through customers’ current accounts and savings accounts.

• Current Accounts → No interest paid
• Savings Accounts → Low interest (usually 2.5–4%)
• Hence, CASA is the cheapest source of funds for banks.

Why CASA Matters in Banking

• Lower Cost of Funds
  • Higher CASA increases the share of cheap deposits, reducing overall Cost of Funds (CoF) and improving profitability.

• Supports Credit Growth
  • Low-cost deposits help banks lend more aggressively at competitive rates.

• Enhances Net Interest Margin (NIM)
  • Since funding cost is low, the gap between lending and deposit rates (NIM) widens → better earnings.

• Improves Liquidity & Stability
  • CASA balances are usually stable and sticky → ensure consistent liquidity.

CASA Ratio

CASA Ratio = (Current + Savings Deposits) ÷ Total Deposits × 100

• High CASA Ratio = Better margins, strong retail franchise
• Low CASA Ratio = Higher dependence on costly term deposits

Drivers Behind CASA Decline:

• Financialisation of Savings:
  • Shift from bank deposits to mutual funds and equities.
  • Mutual fund assets under management (AUM) rose from 12% to 32% of bank deposits over a decade.
  • Popularity of Systematic Investment Plans (SIPs) diverts money from CASA.
• Corporate Behavior:
  • Companies park surplus cash in liquid funds for higher returns and low risk.
  • Money returns to banks in bulk deposits or commercial papers, increasing deposit cost.
• Interest Rate Environment:
  • RBI cut policy rate by 100 bps to 5.5% since February 2025.
  • Lending rates fell faster than deposit rates → adverse margin environment.
  • Weighted average lending rate (September 2025): 8.50%
  • Weighted average term deposit rate: Up 4 bps month-on-month
• Digital Payments & UPI:
  • Instant transfers reduce average deposit retention in savings accounts.
  • CASA now serves as a transit point, not a parking place.
• Government Fund Management:
  • Introduction of Just-In-Time fund management via RBI’s e-Kuber platform reduces government funds parked in low-cost accounts.
  • Limits CASA contribution from government deposits (earlier ~10% of CASA).
• Emerging Technologies:
  • Central Bank Digital Currency (CBDC) may further reduce CASA as funds could be held directly with RBI.

Implications for Banks:

• Profitability: CASA drop increases deposit costs, squeezing NIM.
• Competition: Banks face pressure from mutual funds, digital platforms, and tech-enabled fund flows.
• Strategic Response:
  1. Strengthen digital payment systems to retain CASA.
  2. Target salary accounts and high-value customers for stable deposits.
  3. Introduce flexible recurring deposits and specialized deposit products.
  4. Use AI and analytics to track fund movements and prevent CASA migration.

4. Nine Years After Demonetisation

Source: IE

Context

Since the demonetisation of ₹500 and ₹1,000 notes in November 2016, India has seen a significant rise in currency with the public (CWP), reflecting cash usage in the economy.

Demonetisation Overview

• Date: Announced on 8 November 2016 by PM Narendra Modi.
• Action: ₹500 and ₹1,000 notes ceased to be legal tender from 9 November 2016.
• Objectives:
  • Curb black money
  • Combat counterfeit currency
  • Promote digital payments
  • Formalise the economy

Immediate Impact:

• CWP fell from ₹17.97 lakh crore (Nov 2016) to ₹7.8 lakh crore (Jan 2017).
• Economy faced temporary demand slowdown; GDP growth dipped by ~1.5%.
• Small businesses experienced liquidity crises.

Definition

• Currency with Public (CWP): Total currency in circulation minus cash with banks.
• Currency in Circulation (CIC): Physical currency notes and coins issued by RBI used for transactions.

Currency-to-GDP Ratio

• Indicates cash dependency in the economy.
• Trends:
  • 2016-17: 8.7%
  • Peak 2020-21: 14.5% (COVID cash surge)
  • Oct 2025: 11.11%
• Implication: Lower ratio reflects increased digital payments and formal financial system usage, aiding monetary policy transmission and inflation control.

Comparison with Other Economies

Reason for India’s higher ratio:

• Large informal economy
• Cultural preference for cash
• Gradual adoption of digital payments

Agriculture

1. High-Quality Millet Seeds

Source: BL

Context

At an international symposium on Shree Anna (Millets) and Women Farmers, held on Mandia Divas (Millets Day), Union Agriculture and Farmers’ Welfare Minister Shivraj Singh Chouhan urged scientists to develop high-quality millet seeds to make millets a more profitable crop for farmers.

High-Quality Millet Seeds and GM/GE Crops in India

• Millet, also called Shree Anna or Mandia, is a nutrient-rich, climate-resilient crop and considered a “superfood.”
• Promoted under Mandia Divas (Millets Day) to enhance cultivation and farmer incomes.

Need to Make Millets More Profitable

• Farmers prefer crops that give better financial returns.
• To increase adoption, millets must become more profitable, with:
  • Better seeds
  • Lower cultivation cost
  • Higher productivity

Odisha’s Model Appreciated

• Odisha increased millet productivity from 6 quintals/hectare to 12 quintals/hectare, above the national average.
• Odisha is the only state procuring millets at MSP, giving farmers assured income.
• Millets are also included in mid-day meals in Odisha—suggested to be expanded nationally.

Support for Women Farmers

• Millets strongly linked to tribal culture and women’s participation.
• Women SHGs and seed centres in Odisha help:
  • Conserve traditional seeds
  • Promote local millet-based foods
  • Transfer indigenous knowledge to the next generation

Organic and Sustainable Farming Link

• Excess use of fertilisers and chemicals harms soil and health.
• Millets support:
  • Low-input, climate-friendly farming
  • Transition towards organic farming
• Millets are resilient to droughts and support climate adaptation.

GM (Genetically Modified) and GE (Gene-Edited) Crops

• GM Crops: Organisms with foreign genes inserted to confer desired traits like pest resistance, herbicide tolerance, or improved yield.
• GE Crops: Precision gene editing (e.g., CRISPR-Cas9) modifies the plant’s own genes without introducing foreign DNA.

Current Status in India

• GM Crops:
  • Cotton (Bt cotton) is widely grown.
  • GM mustard approved under regulatory trials.
• GE Crops:
  • Currently under research and regulatory review for commercialization.
  • Potential for traits like drought tolerance, pest resistance, and nutrient enhancement.

2. FAIFA Condemns Exclusion from WHO COP11 on Tobacco Control

Source: BL

Context

The Federation of All India Farmer Associations (FAIFA), which represents tobacco and other commercial crop farmers, has criticised the World Health Organisation (WHO) for excluding farmer groups from participating in the 11th Conference of the Parties (COP11) of the Framework Convention on Tobacco Control (FCTC), scheduled for November 17, 2025.

What is FAIFA?

FAIFA (Federation of All India Farmer Associations) is a national, non-profit organisation representing farmers engaged in regulated commercial crops such as:

• Tobacco
• Chilli
• Cotton
• Pepper
• Other remunerative crops

It advocates for farmers’ rights, fair market policies, export support, sustainable farming practices, and livelihood protection. FAIFA is particularly active in major commercial crop-growing states like Andhra Pradesh, Karnataka, and Telangana.

Why FAIFA is Protesting

FAIFA’s request to participate in COP11 was rejected by the FCTC Secretariat on grounds that farmer interests are “not aligned” with FCTC objectives.
FAIFA says this is discriminatory because FCTC Articles 17 and 18 mandate:

• Protecting livelihoods of tobacco farmers
• Supporting economically viable alternative crops
• Considering socio-economic impacts before policy decisions

Tobacco Farming in India

• India ranks among the world’s top producers and exporters of tobacco, alongside Brazil, Zimbabwe, the U.S., and China.
• Livelihood Impact:
  Over 36 million people depend on the tobacco value chain, including cultivation, curing, trading, and processing.

Major tobacco-growing states:

• Andhra Pradesh
• Karnataka
• Telangana

Facts To Remember

1. Richa appointed DSP in Bengal

Richa Ghosh is ready to wear a new cap. The World Cup-winning cricketer was appointed Deputy Superintendent of Police (DSP) in the state police by the Bengal government.

2. Buddha Relics Reach Bhutan as India’s ‘Gift’ for Global Peace Prayer Festival

India sent the sacred relics of Lord Buddha to Bhutan as a temporary goodwill gesture during the 16-day Global Peace Prayer Festival (GPPF), coinciding with Prime Minister Narendra Modi’s visit to Thimphu on 11–12 November 2025.

3. President Droupadi Murmu’s Visit to Angola – Key Highlights

President Droupadi Murmu undertook a four-day state visit to Angola, marking the first-ever visit by an Indian President to the country. The visit coincides with:

• 40 years of India–Angola diplomatic ties (1985–2025)
• Angola’s 50th Independence Day (11 November 2025)

4. India’s Unemployment Rate Falls to 5.2% in Q2, Down from 5.4% in Q1

India’s unemployment rate declined to 5.2 per cent in the second quarter of this year, down from 5.4 per cent in the first quarter of this year, for individuals aged 15 years and above.

5. PM Modi to Attend Celebrations for 70th Birth Anniversary of Bhutan’s Fourth King

Prime Minister Narendra Modi will be embarking on a two-day visit to Bhutan beginning tomorrow.

6. Jawaharlal Nehru Stadium in Delhi to Be Redeveloped as Sports City: Sports Ministry

The iconic Jawahar Lal Nehru Stadium in the national capital will be redeveloped as a Sports City.

7. PM Modi Expresses Grief Over Demise of Telangana Poet and Lyricist Ande Sri

Prime Minister Narendra Modi has expressed grief over the demise of Telangana poet and lyricist Ande Sri.

8. Union Minister Pemmasani Chandrasekhar Inaugurates National Conference Watershed Mahotsav in Guntur

Union Minister of State for Communications and Rural Development Dr Pemmasani Chandrasekhar has called upon people to harvest rainwater and strengthen rural livelihoods.

9. Lok Sabha Speaker Om Birla Inaugurates 22nd Annual CPA India Region Zone-III Conference in Kohima

Lok Sabha Speaker Om Birla today inaugurated the 22nd Annual Conference of the Commonwealth Parliamentary Association (CPA), India Region Zone-III, at the Nagaland Legislative Assembly in Kohima.

10. Union Cooperation Minister Amit Shah inaugurates Co-op Kumbh 2025 in New Delhi

Union Home and Cooperation Minister Amit Shah has said that Urban cooperative banks should come forward to empower the aspiring youth and underprivileged sections of society.

11. IAF Organises First Ever Full-Scale Air Show in Guwahati to Mark 93rd Anniversary

The Eastern Air Command of the Indian Air Force organised the first-ever full-scale air show in Guwahati today to mark the 93rd anniversary celebrations.

Daily Current Affairs Quiz
11 & 12 November, 2025

National Affairs

1. Janjatiya Gaurav Varsh 2025

Source: PIB

Context

Nationwide celebrations under Janjatiya Gaurav Varsh 2025 have commenced to mark two significant milestones — the 150th birth anniversary of Bhagwan Birsa Munda, revered as Dharti Aaba, and 150 years of the national song “Vande Mataram.”

About Janjatiya Gaurav Varsh 2025

• A year-long nationwide celebration honouring India’s tribal freedom fighters and their immense contribution to the country’s independence and cultural fabric. The initiative highlights the legacy of Bhagwan Birsa Munda and commemorates 150 years of “Vande Mataram,” reinforcing the spirit of patriotism and unity.
• It aims to showcase tribal heritage, resilience, and contribution to India’s nation-building process.

Organisations Involved:

• Nodal Ministry: Ministry of Tribal Affairs (MoTA)
• Supported by: Tribal Research Institutes (TRIs), State Governments, Eklavya Model Residential Schools (EMRS), and various cultural institutions.

Aim:

• To celebrate India’s tribal heritage, patriotism, and unity while deepening the ideals of Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas.
• The initiative promotes cultural inclusivity, awareness of tribal history, and recognition of tribal heroes who played a vital role in India’s freedom struggle.

2. Rural Unemployment Down, Urban Joblessness Up – PLFS Report

Source: TH

Context

The Periodic Labour Force Survey (PLFS) for July-September 2025 highlights trends in employment, unemployment, and sectoral distribution across rural and urban India.

Key Highlights:

• Rural Unemployment
  • Decline: Rural unemployment among persons aged 15+ fell from 4.8% in April-June 2025 to 4.4% in July-September 2025.

• Urban Unemployment
  • Slight Increase: Urban unemployment edged up slightly, with male unemployment rising from 6.1% to 6.2% and female unemployment from 8.9% to 9.0% during the same period.

• Overall Unemployment
  • Marginal Drop: The total unemployment rate for persons aged 15+ decreased from 5.4% to 5.2%.

• Rural Employment
  • Self-Employment Dominance: Rural self-employment rose to 62.8% from 60.7%, with the majority engaged in agriculture (57.7%, up from 53.5%) due to seasonal operations.

• Urban Employment
  • Wage/Salaried Jobs: Urban employment remains dominated by regular wage/salaried jobs, slightly increasing to 49.8% from 49.4%. The tertiary sector employs 62% of urban workers.

• Labour Force Participation
  • Female Participation Increase: Overall female LFPR rose to 33.7% from 33.4%, driven by rural female LFPR increasing to 37.5% from 37%.

• Total Workforce
  • Numbers: About 56.2 crore persons aged 15+ were employed in July-September 2025, including 39.6 crore males and 16.6 crore females.

3. Exercise Malabar 2025

Source: PIB

Context

Indian Naval Ship (INS) Sahyadri has reached Guam in the Northern Pacific Ocean to participate in Exercise Malabar 2025, reaffirming India’s commitment to maritime cooperation, regional stability, and strategic interoperability among the Quad nations — India, the United States, Japan, and Australia.

About Exercise Malabar 2025

Exercise Malabar is a multilateral naval exercise that brings together the navies of India, the United States, Japan, and Australia. It serves as a premier platform to enhance maritime security coordination, interoperability, and joint operational capabilities among the participating nations in the Indo-Pacific region.

Origin:

• Started in 1992 as a bilateral naval drill between India and the United States.
• Japan joined as a permanent member in 2015, followed by Australia in 2020, expanding the scope of the exercise into a Quad-level maritime engagement.

History and Evolution:

• Over the past three decades, Exercise Malabar has transformed from basic search-and-rescue and communication drills to complex multi-domain naval warfare operations.
• The exercise is hosted rotationally by the four member nations, reflecting the principle of shared responsibility for Indo-Pacific security.

Nations Involved:

• India
• United States
• Japan
• Australia
  These four represent the Quad (Quadrilateral Security Dialogue) — an alliance focused on promoting a free, open, and rules-based Indo-Pacific.

2025 Host:

• Guam, a strategic U.S. island territory in the Western Pacific, is hosting Malabar 2025, which includes both harbour and sea phases of operations.

4. India–Sri Lanka Joint Military Exercise ‘Mitra Shakti XI–2025’

Source: TH

Context

The 11th edition of the India–Sri Lanka Joint Military Exercise “Mitra Shakti XI–2025” has commenced at the Foreign Training Node, Belagavi (Karnataka). The exercise underscores the two nations’ shared commitment to strengthening regional security, military cooperation, and interoperability under UN peacekeeping mandates.

About Exercise Mitra Shakti XI – 2025:

‘Mitra Shakti’ is a bilateral joint military exercise held annually between the Indian Army and the Sri Lankan Army. It aims to enhance defence cooperation, improve interoperability, and foster mutual understanding between the two forces in conducting sub-conventional and peacekeeping operations.

• Host:
  • Foreign Training Node, Belagavi, Karnataka.

Nations Involved:

• India: 170 personnel from the Rajput Regiment.
• Sri Lanka: 135 personnel from the Gajaba Regiment.

Aim:

• To rehearse sub-conventional operations under Chapter VII of the UN Charter, focusing on:
• Counter-terrorism operations,
• Peacekeeping missions, and
• Humanitarian assistance and disaster relief (HADR).

5. Delhi Enforces GRAP Stage III

Source: News on Air

Context

The Delhi government has implemented Stage III of the Graded Response Action Plan (GRAP-III) after the city’s Air Quality Index (AQI) crossed 400, entering the ‘Severe’ category for the first time this season. The move comes as part of the region’s coordinated air pollution control strategy to curb emissions and safeguard public health.

About Graded Response Action Plan (GRAP):

The Graded Response Action Plan (GRAP) is a dynamic and adaptive pollution-control framework designed to combat air pollution in the National Capital Region (NCR). It prescribes stage-wise actions based on daily AQI readings to ensure timely intervention.

Established In: 2017, following directions from the Supreme Court of India, based on recommendations of the Environment Pollution (Prevention and Control) Authority (EPCA).

Organisation Involved:
Implemented by the Commission for Air Quality Management (CAQM) in coordination with:

• Central Pollution Control Board (CPCB)
• Delhi Government
• State Pollution Control Boards of Haryana, Uttar Pradesh, and Rajasthan.

Aim: To reduce air pollution in Delhi-NCR through graded, coordinated, and evidence-based actions, thereby protecting public health and aligning with the National Clean Air Programme (NCAP) objectives.

Key Features:

• Four-Stage Response System (Based on AQI Levels):
  • Stage I: Poor (AQI 201–300)
  • Stage II: Very Poor (AQI 301–400)
  • Stage III: Severe (AQI 401–450)
  • Stage IV: Severe+ (AQI >450)
• Progressive Restrictions:
  • Each stage includes measures from all preceding stages.
  • Stage III Measures Include:
    • Ban on construction and demolition activities (except essential projects).
    • Prohibition of BS-III petrol and BS-IV diesel vehicles in Delhi-NCR.
    • Closure of primary schools up to Class 5.
    • Encouragement of work-from-home and carpooling to reduce vehicular load.
• Exemptions:
  • Essential services (healthcare, defence, metro, railways, sanitation) continue but must follow strict dust and emission control norms.

Banking and Finance

1. Banks Seek Lower Stage-II Provision Floor under RBI’s Draft ECL Framework

Source: BS

Context

Indian banks are preparing to approach the Reserve Bank of India (RBI) seeking a reduction in the proposed Stage-II provisioning floor under the Expected Credit Loss (ECL) framework. The ECL-based loan-loss provisioning system, aligned with global accounting standards (IFRS 9), is proposed to come into effect from April 1, 2027, replacing the current incurred-loss model.

About the ECL Framework

The Expected Credit Loss (ECL) framework is a forward-looking provisioning system that requires banks to estimate and set aside funds based on the probability of future loan defaults, rather than waiting for an actual default to occur.
It aims to enhance the accuracy and timeliness of credit risk recognition, thereby strengthening financial stability and transparency in banking operations.

Objective:

• To shift from a reactive incurred-loss model (which recognises losses after default) to a proactive model that anticipates potential credit losses.
• To ensure that banks build adequate buffers for credit risk earlier in the loan cycle.
• To align Indian banking standards with International Financial Reporting Standard (IFRS 9).

Background: Understanding the Three Stages

Under the RBI’s draft ECL norms, banks must classify loans based on changes in credit risk since initial recognition:

• Stage-I: Financial instruments that have not experienced a significant increase in credit risk (SICR) since origination or are of low credit risk. Banks must provide for 12-month expected credit losses.
• Stage-II: Instruments that have experienced a SICR since origination but are not yet credit-impaired. Banks must provide for lifetime expected credit losses.
• Stage-III: Financial instruments that are credit-impaired as of the reporting date. Banks must continue to provide for lifetime expected credit losses, similar to Stage II, but with higher provisioning intensity.

Key Concern: Sharp Rise in Stage-II Provisioning

• The draft norms propose a minimum 5% provisioning floor for Stage-II loans, up from the current 0.4% requirement applied to SMA-1 and SMA-2 (Special Mention Account) loans.
• This would lead to a substantial increase in provisioning burden, especially for banks with larger stressed retail and MSME portfolios.

Draft ECL Framework – At a Glance

2. IRDAI Chief Urges Insurers to Build Trust Through Transparency and Good Governance

Source: TOI

Context

On the occasion of the First Insurance Lokpal Day (November 11, 2025), Ajay Seth, Chairman of the Insurance Regulatory and Development Authority of India (IRDAI), emphasized that trust, transparency, and responsible conduct are the cornerstones of a robust insurance sector.

About Bima Bharosa Platform

The Bima Bharosa platform is IRDAI’s integrated online grievance redressal system that enables policyholders to register, track, and resolve insurance-related complaints across all insurers in India.

Purpose: To ensure transparency, accountability, and timely resolution of consumer grievances in the insurance sector.

Key Features:

• Centralised complaint portal: Allows customers to file grievances related to life, health, or general insurance.
• End-to-end tracking: Consumers can monitor the progress of their complaint online.
• Direct linkage: Connects with the grievance redressal officers of insurance companies for faster response.
• Performance monitoring: IRDAI tracks insurer response times and resolution rates through the portal.

Role of Bima Lokpal and the Ombudsman Network

The Bima Lokpal (Insurance Ombudsman) is a quasi-judicial authority that provides free and impartial dispute resolution for policyholders dissatisfied with the insurer’s response or grievance outcome.

Legal Basis: Established under the Redressal of Public Grievances Rules, 1998, and supervised by IRDAI.

Key Functions:

• Addresses complaints related to delayed claim settlements, policy cancellations, unjustified denials, or non-issuance of policy documents.
• Provides a non-litigious alternative to approaching consumer courts or civil courts.
• Ensures fair hearing and quick redressal within prescribed timelines.

Focus on Rural and Semi-Urban Expansion

IRDAI’s Vision 2047 – “Insurance for All”:

• Aims to ensure that every Indian citizen and enterprise is protected by insurance by 2047.
• Emphasises financial inclusion, awareness, and accessibility of insurance products in rural and semi-urban areas.

Key Focus Areas:

• Expanding distribution networks through micro-insurance agents, digital channels, and cooperative societies.
• Educating consumers about their rights and available grievance mechanisms.
• Strengthening Bima Vahaks and Bima Vistaar initiatives to promote last-mile insurance penetration.

3. Ageas Federal Life Insurance Partners with Muthoot Microfin to Expand Insurance Access in Underserved India

Source: BL

Context

In a strategic move to deepen life insurance penetration in non-metro and underserved regions, Ageas Federal Life Insurance has entered into a distribution partnership with Muthoot Microfin Ltd, one of India’s leading microfinance institutions. The collaboration aligns with IRDAI’s “Insurance for All by 2047” vision and aims to bridge the country’s significant protection gap.

Key Highlights:

• Customer Reach: Muthoot Microfin serves millions of women entrepreneurs and small business owners, providing a strong base for insurance penetration.
• Product Integration: Life insurance offerings will be bundled with existing financial products such as home loans, business loans, and SME credit solutions.
• Digital Enablement: The partnership supports Ageas Federal’s digital-first distribution strategy, using technology for onboarding, servicing, and claim processing.
• Focus Segment: Underserved and emerging markets—especially rural and semi-urban geographies—will be prioritised.

4. Sahakar Digi Pay and Sahakar Digi Loan Apps

Source: IE

Context

Union Cooperation Minister Amit Shah on Monday launched two new digital platforms — Sahakar Digi Pay and Sahakar Digi Loan — aimed at driving the digital transformation of urban cooperative banks (UCBs) and enhancing their competitiveness in India’s increasingly cashless economy. The launch took place during a two-day International Conference on the Urban Cooperative Credit Sector in New Delhi.

About the Initiatives

Sahakar Digi Pay

• What it is: A digital payments platform designed exclusively for Urban Cooperative Banks (UCBs).
• Purpose: To facilitate real-time, secure, and interoperable payment solutions for cooperative bank customers.
• Key Features:
  • Integration with UPI, NEFT, RTGS, and RuPay ecosystems.
  • Enables instant fund transfers and merchant transactions within cooperative networks.
  • Aims to reduce dependence on private fintech intermediaries by building an indigenous cooperative fintech framework.

Sahakar Digi Loan

• What it is: A digital lending platform developed to streamline and digitize the loan processing and disbursal system for UCBs.
• Purpose: To promote paperless, time-bound credit delivery, improving customer experience and loan turnaround times.
• Key Features:
  • Automated credit appraisal and documentation workflows.
  • Integration with Aadhaar, PAN, and Credit Bureau databases for quick verification.
  • Enables online loan sanctioning, enhancing transparency and reducing manual intervention.

Objectives of the Launch

• To modernize the cooperative banking ecosystem through digital empowerment.
• To enhance financial inclusion by enabling small cooperative banks to compete with commercial and digital banks.
• To strengthen the “Sahakar Se Samriddhi” vision by promoting technology-led growth in cooperatives.
• To align the cooperative sector with Digital India and Cashless Economy goals.

5. RBI’s Current Account Curbs Stir Rift Between Private and Public Sector Banks

Source: Mint

Context

The Reserve Bank of India’s (RBI) new proposal to tighten current account rules for large borrowers has triggered a divide between private and public sector banks within the Indian Banks’ Association (IBA). The move, aimed at curbing fund diversion and improving credit discipline, could reshape the flow of low-cost deposits and transaction banking revenues across India’s banking system.

About the RBI’s Proposed Rule

• What’s proposed:
  • Only two banks, each holding at least 10% of the total banking exposure to a borrower with outstanding loans of ₹10 crore or more, will be allowed to open current accounts for that borrower.
• Objective:
  • To prevent fund diversion and ensure that all cash flows of a borrower are visible to its primary lenders, enhancing credit discipline and transparency.
• Effective timeline:
  • Yet to be finalized; RBI released the draft for stakeholder comments in October 2025.

Rationale Behind the Move

• Borrowers often maintain current accounts with non-lending banks, which masks their true cash flows and enables possible fund diversion.
• The rule aims to strengthen supervision over borrowers’ liquidity management and ensure that lending banks have complete visibility into fund movement.

Private Banks’ Concerns

• Loss of Low-Cost Deposits:
  Private banks fear losing a large portion of current account deposits (no interest-bearing funds), which are key to maintaining low-cost CASA ratios.
• Competitive Disadvantage:
  Since public sector banks (PSBs) are usually lead lenders in consortiums, they will likely dominate current account relationships.
• Reduced Customer Choice:
  Borrowers will have fewer options for transaction banking services, hurting competition and efficiency.
• Liquidity Impact:
  Restricting current accounts could affect cash management and fee income, particularly for banks specializing in digital collection and payment solutions.

Regulatory Perspective

• RBI maintains that multiple current accounts for the same borrower increase the risk of fund diversion.
• The framework follows earlier 2020 directives that restricted non-lending banks from maintaining current accounts for borrowers.
• The current proposal refines those norms to ensure greater lender control while permitting collection accounts (for receipts), provided funds are remitted to the main current account within two working days.

6. NUCFDC Moves to Obtain SRO Status for Urban Cooperative Banks

Source: Mint

The National Urban Cooperative Finance and Development Corporation (NUCFDC) is planning to seek Self-Regulatory Organisation (SRO) status from the Reserve Bank of India (RBI) within the next two months, following the near completion of its capital augmentation to ₹300 crore, a key eligibility criterion.

About NUCFDC

• Full Form: National Urban Cooperative Finance and Development Corporation Ltd.
• Established: Licensed as a mid-layer NBFC in February 2024.
• Ownership Structure:
  • 20% equity: National Cooperative Development Corporation (NCDC)
  • 80% equity: Participating Urban Cooperative Banks (UCBs)
• Objective: To function as the umbrella organisation for UCBs, promoting financial stability, digital transformation, and sector-wide standardisation.

Key Highlights:

• Capital Mobilisation & SRO Ambition
  • NUCFDC’s paid-up capital will soon exceed ₹300 crore, qualifying it to seek SRO recognition from RBI.
  • Board resolutions for capital contributions from UCBs have been passed, and inflows are expected by 17 November 2025, with share allotments beginning mid-December.
  • The SRO status will empower NUCFDC to act as a regulatory and oversight body for the UCB sector, complementing RBI’s supervision.
• Sectoral Representation
  • So far, 440 out of 1,462 UCBs have joined the initiative.
  • These banks account for 70% of the ₹5.5 trillion total deposit base of the UCB sector—representing significant scale for collective bargaining and sectoral coordination.
• Fund-Based Services
  • With the new capital base, NUCFDC plans to launch fund-based operations, including:
    • Short-term liquidity support
    • Tier-II capital support
    • Refinance facilities for UCBs
    • Infrastructure loans for technology upgradation
  • The corporation will leverage its capital up to seven times to raise funds from markets for lending and refinancing operations.
• Digital Push: Sahakar DigiPay & Sahakar DigiLoan
  • Two major digital initiatives launched to strengthen UCBs’ digital infrastructure:
    • Sahakar DigiPay:
      • A cost-efficient payments platform (costing just 50 paisa per transaction)
      • Fully interoperable with UPI, IMPS, and RuPay through NPCI backend integration
      • Aims to modernize UCB payment operations and attract younger, tech-savvy customers
    • Sahakar DigiLoan:
      • Designed to automate lending workflows, improving speed, compliance, and credit risk management
  • These digital platforms are expected to standardize IT systems and reduce operational costs across the cooperative banking ecosystem.
• Future Vision: Digital Banking for Smaller UCBs
  • NUCFDC plans to seek RBI approval to allow digital banking services by smaller UCBs (net worth < ₹50 crore), provided they operate through NUCFDC’s secure digital infrastructure.
  • Upcoming features include AI-enabled analytics, cybersecurity frameworks, and data-driven decision tools to strengthen risk management.

Self-Regulatory Organisation (SRO)

A Self-Regulatory Organisation (SRO) is an entity empowered to regulate, supervise, and enforce standards within a specific sector, while functioning under the oversight of the primary regulator—in this case, the Reserve Bank of India (RBI).

Key Functions of an SRO in the financial sector (like NUCFDC for UCBs):

• Regulatory Oversight: Monitor member institutions for compliance with rules, policies, and prudential norms.
• Standard Setting: Formulate and enforce operational, governance, and ethical standards.
• Capacity Building: Provide training, guidance, and support to member institutions.
• Grievance Redressal: Act as an intermediary for resolving disputes within the sector.
• Bridge with Regulator: Serve as a liaison between member institutions and the central regulator (RBI), helping implement policies effectively.

Eligibility Criteria for an SRO under RBI Guidelines

While RBI does not have a single rigid template for all SROs, typical criteria include:

1. Capital Requirement:
   • The organisation must meet a minimum paid-up capital threshold—for NUCFDC, this is ₹300 crore.
2. Sectoral Representation:
   • Must represent a significant proportion of the sector, ensuring collective accountability and wide participation.
   • NUCFDC currently has 440 UCB partners, representing 70% of the sector’s deposit base.
3. Regulatory Compliance:
   • Existing operations should comply with RBI regulations, including corporate governance, financial reporting, and prudential norms.
4. Operational Capability:
   • Ability to monitor, train, and guide member institutions, including technological and digital infrastructure support.
5. Legal Structure:
   • Incorporated as a company or entity capable of undertaking regulatory functions, with statutory backing or MoU with the regulator.
6. Transparency and Accountability:
   • Mechanisms for reporting, auditing, and grievance redressal must be in place.

Agriculture

1. Union Agriculture Minister to Inaugurate “Watershed Mahotsav” in Guntur, Andhra Pradesh

Source: IE

Context

The Union Minister of Agriculture and Farmers’ Welfare will inaugurate the Watershed Mahotsav in Guntur, Andhra Pradesh, on November 11, 2025. The event highlights India’s focus on community-led watershed management, soil conservation, and sustainable water resource use to strengthen rural livelihoods.

About Watershed Mahotsav:

The Watershed Mahotsav is a national festival celebrating Jan Bhagidari (public participation) in watershed development. It aims to unite farmers, local communities, policymakers, and experts to promote holistic soil and water conservation practices across rainfed and drought-prone regions of India.

Origin:

• The initiative is part of the National Watershed Conference 2025, organised by the Department of Land Resources (DoLR) under the Ministry of Rural Development.
• It aligns with the government’s broader vision of Mission Life and Sustainable Agriculture, promoting efficient natural resource management.

Objectives:

• Foster community ownership and participation in watershed management.
• Restore degraded ecosystems through integrated land and water resource management.
• Strengthen rural livelihoods and ensure water security for rainfed farming systems.

Key Features:

• Mission Watershed Revitalisation:
  • Focus on repairing and rejuvenating old watershed structures to improve water retention and soil health.
• Integration with MGNREGA:
  • Utilises MGNREGA funds for labour-intensive watershed and soil conservation works, ensuring sustainable rural employment.
• Community Initiatives:
  • Activities include shramdaan (voluntary labour), tree plantation drives, and local-level competitions.
  • Launch of the Watershed Jan Bhagidari Cup 2025 to recognise best-performing community watershed projects.
• Focus Areas:
  • Rainfed area development, water harvesting, afforestation, and spring-shed rejuvenation in hilly and semi-arid zones.
  • Promotion of climate-resilient agriculture through efficient water use and drought-proofing measures.

Facts To Remember

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Samrat Rana, left, clinched India’s maiden gold in an Olympic event, winning the 10m air pistol with 243.7 points, at the ISSF World Championships in Cairo while Varun Tomar took bronze. Tomar (221.7) ended behind China’s Kai Hu (243.3).

2. Amitabh Singh Appointed CHRO of IndusInd Bank