Daily Current Affairs (DCA) 15 October, 2025

Daily Current Affairs Quiz
15 October, 2025

National Affairs

1. India Hosts First Chiefs’ Conclave of UN Troop Contributing Countries (UNTCC)

Source: PIB

Context:

India hosted the Conclave of Chiefs of UN Troop Contributing Countries (UNTCC) for the first time, in New Delhi from October 14-16, 2025, under the aegis of the Indian Army.

Objectives of the Conclave:

• Strengthen UN peacekeeping operations.
• Promote global stability through enhanced cooperation, consultation, and reform.
• Facilitate dialogue on operational challenges, technological integration, and training.

Participation:

• Over 30 military chiefs and senior officials from 32 nations, including key troop-contributing countries:
  • Bangladesh
  • Ethiopia
  • Nepal
  • Kenya

Key Highlights:

• Purpose of the Forum:
  • Provide a platform to deliberate operational challenges, share best practices, and develop a common understanding of the future of peacekeeping.
  • Focus on interoperability, technology adoption, and capacity building.
• Key Discussions:
  • Adapting peacekeeping to modern threats like non-state actors, hybrid warfare, and disinformation.
  • Enhancing coordination, consultation, and cooperation among troop-contributing countries.
  • Emphasis on a “4C formula” by Indian Defence Minister: Consultation, Cooperation, Coordination, Capacity Building.
• Challenges Highlighted for Peacekeepers:
  • Operating in volatile environments marked by terrorism and asymmetric warfare.
  • Handling fragile political settlements, humanitarian crises, pandemics, and misinformation campaigns.
• Outcomes:
  • Reinforced commitment to improve effectiveness and sustainability of UN peacekeeping operations.
  • Highlighted the need for peace operations to be technologically advanced, adaptive, and cooperative.

2. PM Modi Strengthens India–Mongolia Strategic Partnership

Source: News on Air

Context:

Prime Minister Narendra Modi held bilateral talks with Mongolian President Khurelsukh Ukhnaa on Tuesday, reaffirming India’s commitment to deepening its strategic and developmental partnership with the mineral-rich nation. The talks emphasized cooperation in defence, security, critical minerals, and cultural exchange, with a strong focus on amplifying the voice of the Global South and promoting a rules-based Indo-Pacific.

Key Highlights:

MoUs Signed (10 total):

• Areas of cooperation: Humanitarian aid, restoration of heritage sites, immigration, geology & mineral resources, promotion of cooperatives, and digital solutions.
• Symbolic milestone: Joint release of commemorative stamps marking 70 years of India-Mongolia relations.

Key Announcements by PM Modi:

• Free e-visas for Mongolian citizens.
• Sponsorship of annual visits of young Mongolian cultural ambassadors to India.
• Strengthening historic Buddhist ties: linking Nalanda University with Gandan Monastery; continued promotion of Buddhist heritage.
• Emphasis on shared values and rules-based, free, inclusive Indo-Pacific.
• India remains a reliable partner in Mongolia’s development; $1.7 billion line of credit for Oil Refinery Project to boost energy security.

3. Logistics Excellence, Advancement, and Performance Shield (LEAPS) 2025

Source: PIB

Context:

On the 4th Anniversary of PM GatiShakti in October 2025 at Bharat Mandapam, New Delhi, the Union Minister for Commerce and Industry launched the Logistics Excellence, Advancement, and Performance Shield (LEAPS) 2025. This initiative aims to benchmark and recognize excellence in India’s logistics sector, promoting innovation, efficiency, and sustainability.

Key Highlights:

• Objective:
  • Recognize leadership, innovation, and best practices across logistics in India.
  • Enhance the global competitiveness of India’s logistics ecosystem.
  • Align industry standards with the National Logistics Policy 2022 and PM GatiShakti vision for integrated, sustainable, and resilient infrastructure.
• Scope and Criteria:
  • Covers air, rail, road, and maritime freight operators, warehousing (industrial and agricultural), MSMEs, startups, academic institutions, and e-commerce logistics providers.
  • 13 award categories promote diversity, inclusion, and innovation.
• Features and Benefits:
  • Encourages ESG compliance, green logistics, and sustainable practices.
  • Fosters collaboration between Government, Industry, and Academia.
  • Strengthens initiatives like Make in India, Atmanirbhar Bharat, and Viksit Bharat 2047.
  • Provides a national platform to showcase technological adoption and efficiency in logistics.

Banking/Finance

1. POSB and EPFO May Come Under RBI Oversight After Fraud and Fund Management Concerns

Source: IE

Context:

The Government of India has sought the Reserve Bank of India’s (RBI) oversight over two major social security institutions — the Post Office Savings Bank (POSB) and the Employees’ Provident Fund Organisation (EPFO) — to strengthen internal controls, ensure transparency, and improve fund management practices.

Key Developments:

• Government’s Proposal:
  • The Department of Posts and the Ministry of Labour & Employment have written separately to the RBI seeking supervisory and advisory intervention for POSB and EPFO, respectively.
  • The move follows serious lapses detected in internal control and fund management practices across both entities.
• Post Office Savings Bank (POSB):
  • Audit Findings: Over 60 cases of misappropriation across 14 postal circles revealed “manual manipulation” of the Sanchay Post database.
  • The Department has proposed an MoU with RBI to review internal processes and strengthen fraud prevention mechanisms.
  • POSB currently functions under the Ministry of Finance and falls under the Payment and Settlement Systems Act, 2007, already giving RBI partial authority over payment-related functions.
• Employees’ Provident Fund Organisation (EPFO):
  • The Ministry of Labour sought RBI’s guidance on EPFO’s fund management and investment practices in February 2025.
  • RBI’s Findings:
    • Flagged accounting anomalies, including lack of mark-to-market valuation and absence of loss provisioning.
    • Highlighted a conflict of interest between EPFO’s roles as regulator and fund manager.
    • Recommended separation of regulatory and investment functions.
    • Advised EPFO to conduct actuarial assessments and adopt a gradual diversification into equities and alternative assets.

2. EPFO Proposes Major Simplification in PF Withdrawal Rules

Source: ET

Context:

The Employees’ Provident Fund Organisation (EPFO) has proposed major reforms to simplify partial withdrawals from the Provident Fund (PF), while making full settlement after leaving a job more restrictive. The proposals were approved by the Central Board of Trustees (CBT) to enhance efficiency, digital processing, and long-term savings discipline.

Key Proposals at a Glance

Aspect	Existing Rule	Proposed Change
Partial Withdrawals	13 separate conditions with varying limits	Merged into 3 broad categories – (1) Personal milestones (marriage, illness, education), (2) Housing, and (3) Special circumstances
Frequency of Withdrawals	Combined limit of 3 for marriage & education	Up to 5 times for marriage and 10 times for education
Minimum Service Period	Varies by purpose	Standardised to 12 months
Minimum PF Balance	No such rule	Members must maintain 25% of contributions as minimum balance
Withdrawal Limit	Fixed per category	Up to 100% of eligible balance (after maintaining 25%)
Documentation	Documents required	Auto-settlement through simplified digital claim process
Full Settlement (Post-Resignation)	Allowed after 2 months	Waiting period increased to 12 months
Women Employees	Allowed early withdrawal under certain conditions	May continue under special circumstances
Employees’ Pension Scheme (EPS)	Withdrawal after 2 months	Waiting period extended to 36 months

Rationale Behind the Reform

• Simplification: Reduces administrative complexity by consolidating 13 withdrawal categories into 3.
• Digital Ease: Enables 100% auto-settlement for partial withdrawals without physical documents.
• Savings Discipline: Prevents premature depletion of retirement savings by mandating a 25% minimum balance.
• Fiscal Prudence: Limits misuse of PF corpus for short-term needs.

3. NTT Data Partners with NPCI International to Enable UPI Payments in Japan

Source: BS

Context:

NTT Data has signed a Memorandum of Understanding (MoU) with NPCI International Payments Ltd (NIPL) to facilitate the acceptance of Unified Payments Interface (UPI) transactions in Japan. This initiative targets Indian tourists visiting Japan, aiming to make payments seamless and convenient.

Key Highlights:

• Objective: Enable Indian tourists in Japan to make payments using UPI, enhancing their shopping and payment experience.
• Benefits for Japanese Merchants: Access to a growing segment of Indian tourists and potential increase in transaction volumes.
• Collaborative Effort: NTT Data and NIPL will jointly explore opportunities to expand UPI acceptance in Japan, evaluating merchant networks, regulatory compliance, and technical enablement.
• Strategic Significance: The move aligns with globalizing UPI, India’s flagship digital payment system, and strengthens cross-border payment infrastructure.

4. Employees Enrolment Scheme, 2025 (EES 2025)

Source: BS

Context:

The Employees Provident Fund Organisation (EPFO) has announced the Employees Enrolment Scheme, 2025 (EES 2025) to bring more workers under the social security net. The scheme allows employers to voluntarily declare and enrol eligible employees who were previously left out of the EPF system.

Key Highlights:

• Scheme Period: 1 November 2025 to 30 April 2026.
• Eligibility: Employees who joined between 1 July 2017 and 31 October 2025, are alive and employed on the declaration date, and were not previously enrolled in the EPF scheme.
• Contribution Waiver: Employee share of PF contribution for the past period (July 2017 – October 2025) is waived, provided it was not deducted from wages; employer pays only its share.
• Penal Damage: Employers opting for the scheme pay a nominal ₹100 lump sum penalty instead of standard non-compliance penalties.
• Link to Other Schemes: Employers registering under EES 2025 or declaring additional employees become eligible for benefits under the Pradhan Mantri Viksit Bharat Rojgar Yojana, subject to its terms and conditions.
• Non-Compliance Protection: EPFO will not initiate compliance action against employers for employees who have left the establishment as of the declaration date.

EPF Withdrawal Simplification:

• The Central Board of Trustees (CBT) has streamlined withdrawal criteria from 13 to three categories:
  1. Essential needs (illness, education, marriage)
  2. Housing needs
  3. Special circumstances
• Members can withdraw up to 75% of their total PF balance; remaining 25% must be retained as a minimum balance to ensure accumulation of a high-value retirement corpus.
• Around 75% of EPF members had less than ₹50,000 at final settlement, motivating the minimum balance rule.

5. SEBI’s Relaxation of Minimum Public Shareholding

Source: BS

Context:

The Securities and Exchange Board of India (SEBI) recently relaxed the Minimum Public Shareholding (MPS) requirements for large companies at the time of listing. The move allows:

Key Changes:

• Initial Public Offer (IPO) Requirement:
  • Large companies can now list with as low as 2.5% public shareholding at the time of listing.
• Timeline to Achieve Full MPS:
  • Companies have a 10-year period to reach the standard 25% MPS threshold, instead of meeting it immediately at listing.
• Target Companies:
  • Mostly large issuers with deep-pocketed promoters.
  • Includes companies with substantial pre-IPO private equity investments or strategic placements.
  • Some government-owned enterprises may also fall in this category.
• Rationale by SEBI:
  • Avoid immediate oversupply of shares that could depress prices.
  • Large companies may not need additional funds at IPO.
  • Facilitates pre-IPO private investments and provides exit opportunities for existing investors.
• Implications for Investors and Governance:
  • Minimal public shareholding reduces influence of minority shareholders.
  • May not significantly enhance corporate governance.
  • Extended timelines could cause valuation uncertainties and confusion for investors.

6. IMF Raises India’s FY26 GDP Forecast to 6.6%

Source: FE

Context:

The International Monetary Fund (IMF) revised India’s gross domestic product (GDP) growth forecast for FY26 to 6.6%, up 20 basis points from its previous projection of 6.4%, citing a robust first-quarter performance that offset the impact of US interest rate hikes. The FY27 forecast was also revised upward to 6.2%.

Key Highlights:

• Strong Domestic Momentum: Private sector growth and technology adoption remain key drivers of India’s economic expansion.
• Global Comparison: India continues to be projected as the world’s fastest-growing major economy, supported by resilient consumption.
• External Factors: Despite trade challenges, including a 50% US tariff on labour-intensive exports (textiles, footwear, marine products), the Indian economy has shown resilience.
• Global Growth Outlook: The IMF raised the global growth projection for 2025 by 20 bps to 3.2%, while 2026 remains at 3.1%.

Other Forecasts for India (FY26 GDP Growth %):

Institution	Earlier	Current
World Bank	6.3	6.5
OECD	6.3	6.7
S&P Global	6.5	6.5
ADB	6.5	6.5
RBI	6.5	6.8
IMF	6.4	6.6

7. Indian Banking Sector Attracts Significant Foreign Investments

Source: ET

Context:

India’s long-term growth prospects, coupled with a more accommodative regulatory environment from the Reserve Bank of India (RBI) and the government, are driving a wave of foreign investments in the country’s banking sector. These transactions aim to create larger and stronger banks, signaling confidence in India’s financial stability and growth potential.

Modes of Foreign Investment in Indian Banks

• Equity Investment / Stake Acquisition:
  • Direct purchase of shares from promoters or private placements (e.g., SMBC in Yes Bank).
  • Can be structured as preferential allotments, warrants, or secondary market purchases.
• FDI through Wholly-Owned Subsidiaries (WOS):
  • Some foreign banks operate in India via subsidiaries fully owned by them, approved by RBI (e.g., Emirates NBD).
• Private Equity and Strategic Partnerships:
  • Foreign investors invest pre-IPO or during reconstruction phases to gain significant stakes.
  • These investments often precede public listing to improve capital structure and governance.
• Preferential Allotment with Open Offers:
  • Foreign investors may subscribe to new shares via preferential allotments and follow up with mandatory open offers under SEBI rules to acquire additional shares.

Regulatory Environment:

• FDI in private banks is capped at 74%, with individual foreign financial entities limited to 15% without RBI approval.
• Foreign investors’ voting rights in private banks are capped at 26%, but the regulatory stance is becoming more supportive of larger foreign stakes, especially from countries with strong bilateral ties with India.
• Accommodative measures allow well-diversified banks to attract majority foreign stakes, enhancing capital bases and supporting long-term growth.

8. India’s First Wearables Payment Ecosystem – Muse & NPCI

• Who: Muse Wearables (IIT-Madras incubated startup) and NPCI
• Device: Ring One
• Network: Rupay
• Unique Feature: Contactless payments with hardware-level tokenisation

Key Features:

• NFC Payments: Tap the ring on any NFC-enabled POS terminal; no phone, card, or wallet needed.
• Security: Payments enabled via Muse Wallet and Rupay; card credentials converted to a token stored in a Secure Element (SE) chip.
• Anti-Theft: Ring only works when worn; disables payment if removed.

Significance:

• India’s first device-based wearables payment ecosystem, promoting contactless, secure, and convenient transactions.

9. Curie Money & ICICI Prudential AMC – Instant Mutual Fund Redemption via UPI

• Who: Curie Money (fintech) and ICICI Prudential AMC
• Feature: Instant redemption up to 90% of invested liquid fund amount via UPI
• Daily Limit: ₹50,000

Key Benefits:

• Combines investment growth with real-time liquidity.
• Eliminates standard 1–2 business days waiting period for redemption.
• Funds can be used immediately for UPI payments, enhancing digital money management.

Significance:

• Empowers retail investors with flexibility and instant access to invested funds without penalties.

Agriculture

1. IFBA Launches Food Awareness Initiative on World Food Day

Source: BL

Organisers:

• Indian Food & Beverage Association (IFBA)
• National Institute of Food Technology, Entrepreneurship and Management (NIFTEM-Kundli)
• Institute of Hotel Management, Catering and Nutrition (IHM Delhi)

Objective:

• Promote informed dialogue and collaborative action across the food ecosystem, bringing together industry leaders, regulators, researchers, and academia.
• Debunk myths surrounding common food choices shaped by misinformation rather than science.
• Empower consumers to make science-backed, healthy food decisions.

Key Focus Areas:

• Palm oil and its usage in diets.
• Processed and packaged foods: benefits and misconceptions.
• A1 vs A2 ghee varieties.
• Protein supplements and nutrition myths.

Special Features:

• Healthy Snacking Contest:
  • Supported by Indian Federation of Culinary Associations.
  • Judges include:
    • Sudhir Sibal, Ambassador, World Chefs Without Borders
    • Madhusudan Gupta, Treasurer, Indian Federation of Culinary Associations
    • Manjari Chandra, Functional Nutritionist
  • Purpose: Spotlight emerging culinary leaders shaping safe and nutritious food trends in India.
• Stakeholder Engagement:
  • Combines discussions, practical demonstrations, and evidence-based approaches.
  • Encourages collaboration between industry, academia, and regulators.

2. Finance Minister Inaugurate Farmers Training and Agro-Processing Centres in Kalyana Karnataka

Source: BL

Occasion:

• Inauguration by Nirmala Sitharaman, Minister for Finance and Corporate Affairs.
• Focus on strengthening the agriculture value chain in Kalyana Karnataka region.

Districts Covered:

• Koppal
• Raichur
• Ballari
• Vijayanagara

Project Details:

• Established with contributions from MPLADS, in collaboration with NABARD.
• Objectives:
  • Enhance farmers’ income.
  • Create employment opportunities.
  • Build entrepreneurial capacities in farmer organizations.

District-wise Projects:

• Koppal (Methagal village):
  • Farmers training centre.
  • Fruit processing centre for mango, papaya, guava.
  • Products: Juice, pulp, powder.
• Raichur (Jawalgera village):
  • Pulses processing unit for red gram and Bengal gram.
  • Products: Tur dal, chilla mix.
• Ballari:
  • Red chilli processing centre.
  • Products: High-quality chili powder and flakes.
• Vijayanagara:
  • Groundnut and tamarind processing facility.
  • Products: Peanut butter, salted peanuts, tamarind pulp.

3. NABARD to Launch Digital Infrastructure for Rural Cooperative Banks

Source: NABARD

Key Points:

• Planner: NABARD (National Bank for Agriculture and Rural Development)
• Initiative: Comprehensive digital solution platform for rural cooperative banks.
• Timeline: Expected in the second half of FY2025-26.
• Additional Focus: Similar digital infrastructure being developed for Regional Rural Banks (RRBs).

Significance:

• Aims to modernize banking operations in rural areas.
• Enhances efficiency, accessibility, and digital adoption among rural cooperative banks.
• Supports NABARD’s broader vision of strengthening rural financial inclusion.

Facts To Remember (15 October 2025)

1. India fails to qualify for AFC Asian Cup

On a night where India showed plenty of promise, it had to swallow a bitter pill at the hands of Singapore at the Jawaharlal Nehru Stadium. The 2-1 defeat ended any hopes of a third successive AFC Asian Cup qualification.

2. Japan’s 2-hour phone limit

Police won’t be rounding up people glued to phones in Japan’s Toyoake, but the mayor believes his two-hour limit can help residents find a healthier relationship with their screens.

3. Government Likely to Raise MGNREGA Allocation Amid Flood-Induced Rural Distress

The Central Government is considering an increase in the budget allocation for the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) as large parts of Bihar, Uttar Pradesh, Himachal Pradesh, and Punjab face severe flood-related agricultural disruptions.

4. Indian Navy to Host Seminar on Cyber Threats to Maritime Security Tomorrow in Delhi

The Indian Navy will organise a seminar on the Impact of Cyber Attacks on the Maritime Sector and Its Effects on National Security and International Relations in New Delhi tomorrow. 

5. Railways Minister Inaugurates 16th International Railway Equipment Exhibition in New Delhi

Union Railways Minister Ashwini Vaishnaw today inaugurated the 16th International Railway Equipment Exhibition-2025, Asia’s largest and the world’s second-largest railway exhibition at Bharat Mandapam in New Delhi. 

6. India, Saudi Arabia Hold Bilateral Talks to Boost Cooperation in Chemicals and Petrochemicals

Union Chemicals and Fertilisers Ministry held a bilateral meeting with the Industry and Minerals Ministry of the Kingdom of Saudi Arabia to further strengthen bilateral cooperation between the two nations in the Chemicals and petrochemicals sector. 

7. India Elected Unopposed to UN Human Rights Council for 2026–28 Term

India has been elected unopposed to the Human Rights Council for the seventh time for a three-year term (2026-28) starting next year. 

8. India Resumes International Postal Services to US After Suspension

India will resume international postal services to the United States from today.