Daily Current Affairs Quiz
17 September, 2025
National Affairs
1. Sentient Launches Open-Source AGI Network
Source: BS
Context:
Artificial intelligence (AI) startup Sentient has launched the world’s first open-source artificial general intelligence (AGI) network, opening access to over 2 million waitlisted users. The platform enables 40+ AI agents, models, and 50+ data sources to collaborate in real time, offering India and allied nations an alternative to closed AI ecosystems.
Key Highlights:
- Open AGI Launch: First open AGI network where multiple AI agents collaborate in real time.
- Consumer Interface: Access through Sentient Chat for tasks like financial reporting, news briefings, research, and travel planning.
- Capabilities: Generates outputs such as comprehensive investment reports, personalised daily briefings, and multi-step workflows.
What it is?
- Artificial General Intelligence (AGI): Refers to AI systems capable of performing any intellectual task that a human can do, with adaptability, reasoning, and learning across domains. Unlike narrow AI, AGI is not limited to specific tasks.
- Open-Source AGI Network: A decentralized platform where AGI models, tools, and datasets are publicly accessible, allowing global collaboration, transparency, and innovation.
Relevance:
- Democratization of AI: Allows small organizations, startups, and researchers to access cutting-edge AGI tools without prohibitive costs.
- Innovation Acceleration: Facilitates collaboration across countries, sectors, and disciplines.
- Transparency & Trust: Open access reduces the “black-box” problem, allowing scrutiny for bias, fairness, and ethical compliance.
- AI Safety: Enables shared development of guardrails and standards to mitigate misuse risks.
- Applications: Healthcare, Education, Agriculture, Climate & Environment etc.
2. NITI Aayog Launches ‘AI for Viksit Bharat Roadmap’ & Frontier Tech Repository
Source: PIB
Context:
NITI Aayog launched two transformative initiatives, AI for Viksit Bharat Roadmap: Opportunity for Accelerated Economic Growth and NITI Frontier Tech Repository under its Frontier Tech Hub.
Key Highlights of the AI for Viksit Bharat Roadmap
- Objective: Harness AI to bridge 30–35% of India’s growth gap and achieve sustained 8%+ GDP growth by 2035.
- Focus Areas: Productivity enhancement, sector-specific AI adoption, and innovation-driven R&D.
- Approach:
- Accelerate AI adoption in industries like banking, manufacturing, pharma, and automobiles.
- Transform R&D using generative AI for faster, cost-efficient innovation.
- Strengthen infrastructure in data, compute, talent, and governance for inclusive growth.
3. Yudh Abhyas 2025
Source: IE
Context:
The 21st edition of Yudh Abhyas, the annual India–US joint military exercise, concluded successfully on September 14, 2025, after two weeks of intensive engagement. The exercise highlights deepening India–US defence cooperation despite ongoing trade frictions.
Key Highlights:
- Origins & Evolution:
- Started in 2002, initially focused on platoon-level peacekeeping operations.
- Has grown into one of the largest and most advanced bilateral exercises conducted by India.
- Conducted alternately in India and the US.
- Location & Duration (2025):
- Fort Wainwright & Yukon Training Area, Alaska, USA
- Sept 1–14, 2025
Banking/Finance
1. RBI Issues Final Guidelines for Payment Aggregators (PAs)
Context:
The Reserve Bank of India (RBI) has released its comprehensive final guidelines for Payment Aggregators (PAs), aimed at enhancing transparency, security, and governance in the digital payments ecosystem. These norms cover authorization, capital requirements, fund management, data security, and consumer protection.
Key Highlights:
- Authorization & Net Worth:
- Non-bank PAs must obtain RBI authorization under the Payment and Settlement Systems Act, 2007.
- Minimum net worth: ₹15 crore at application, rising to ₹25 crore by the end of the 3rd financial year.
- Banks providing PA services as part of regular operations are exempt.
- Governance & Compliance:
- PAs must be professionally managed, promoters and directors must meet ‘fit and proper’ criteria.
- Any acquisition or management change must be reported to RBI within 15 days.
- Appointment of a nodal officer for regulatory compliance and grievance handling is mandatory.
- Merchant Agreements & Escrow:
- Agreements must clearly define responsibilities, dispute resolution, refunds, and grievance redressal.
- Funds collected must be held in an escrow account with a scheduled commercial bank.
- An escrow account is a neutral bank account where funds are temporarily held by a third party (the escrow agent) until specific conditions of a transaction are fulfilled by the parties involved.
- Risk Management & Security:
- Mandatory background checks of merchants to prevent fraud or prohibited sales.
- Compliance with Payment Card Industry Data Security Standards (PCI-DSS).
- Robust IT and data security infrastructure required; annual security audits by CERT-In empanelled auditors.
- Cyber incidents must be reported immediately to RBI and CERT-In.
- Customer Protection:
- Card credentials must not be stored by PAs or merchants.
- Refunds must go to the original payment method unless agreed otherwise.
- Payment Gateways (PGs):
- Treated as technology providers; adherence to recommended security standards is encouraged.
- A Payment Gateway (PG) is a technology service that facilitates online payment transactions between customers, merchants, and banks.
Payment Aggregators (PAs)
A Payment Aggregator (PA) is a financial entity that facilitates online payments by collecting money from customers on behalf of merchants and transferring it to the merchant after settlement. PAs do not hold a banking license but act as intermediaries between customers, merchants, and banks.
Regulatory Framework:
- Governed by the Reserve Bank of India (RBI) under the Payment and Settlement Systems Act, 2007.
- Non-bank PAs must obtain RBI authorization to operate in India.
- Required to maintain a minimum net worth of ₹15 crore initially, increasing to ₹25 crore by the end of the 3rd financial year.
2. SEBI Launches Swagat-FI
Source: Mint
Context:
The Securities and Exchange Board of India (SEBI) unveiled the Single Window Automatic & Generalised Access for Trusted Foreign Investors (Swagat-FI) on 12 September 2025 the most comprehensive reform of foreign investment rules to date. The framework is designed to simplify onboarding, unify investment routes, and attract long-term global capital into India.
Key Features of SWAGAT-FI
- Targeted Investors: The framework is designed for “low-risk” foreign investors, including sovereign wealth funds, central banks, pension funds, global insurance companies, and large mutual funds. These entities are typically government-owned or have a strong track record of stable investments.
- Simplified Registration: SWAGAT-FI offers a single-window registration process, reducing the complexity and time required for foreign investors to enter the Indian market.
- Extended Validity: Registered entities under this framework will benefit from an extended registration validity of 10 years, providing greater stability and predictability for long-term investments.
- Streamlined Compliance: The framework aims to ease ongoing compliance requirements, making it more efficient for trusted foreign investors to operate within India’s regulatory environment.
Objectives and Implications
- Stabilizing FII Flows: By attracting long-term, stable foreign investments, SWAGAT-FI seeks to mitigate the impact of short-term capital outflows and enhance the resilience of Indian capital markets.
- Boosting Market Confidence: The initiative is expected to bolster investor confidence in India’s financial markets, signaling a commitment to fostering a conducive environment for foreign investments.
Challenges & Considerations
- Heightened Scrutiny: Single demat accounts improve transparency but may increase regulatory monitoring of fund flows.
- Complex Tax Landscape: Layered tax compliances, multiple treaty interpretations, and withholding tax regimes continue to create ambiguity and compliance costs.
- Next Steps: Experts suggest harmonising tax processes with the Income Tax Department and RBI to fully realize the framework’s benefits.
3. PFRDA Allows Bespoke Pension Plans
Source: ET
Context:
The Pension Fund Regulatory and Development Authority (PFRDA) has announced that individual pension fund houses can now launch tailor-made investment plans, marking a potential overhaul for India’s $175 billion pension industry.
Previously, subscribers under the National Pension System (NPS) could operate only one pension program with a predefined asset allocation set by PFRDA. This limited flexibility restricted pensioners’ ability to align investments with personal goals and risk preferences.
Key Changes:
- Multiple Pension Programs Per Subscriber
- Account holders can now operate multiple pension programs simultaneously, giving greater flexibility to diversify across risk profiles and retirement goals.
- Fund houses can offer bespoke products tailored to investor preferences, moving away from uniform, regulator-defined plans.
- Expanded Personalisation & Product Innovation
- Pension managers can now design plans targeting specific customer segments, advertising a broader range of potential returns.
- Subscribers can choose investments across four asset classes:
- Equity
- Corporate debt
- Government bonds
- Alternative investment funds
- Fund managers gain flexibility to innovate within these asset classes to meet diverse investor demands.
4. RBI, NPCI Set to Launch Netbanking 2.0
Context:
At least four major banks HDFC Bank, Axis Bank, SBI, and AU Small Finance Bank along with several online payment aggregators are preparing to go live on Netbanking 2.0, a new interoperable netbanking switch developed by NPCI Bharat BillPay Ltd. (NBBL). The official launch is expected by RBI Governor Sanjay Malhotra at the Global Fintech Fest 2025 (Oct 7–9).
Netbanking 2.0 Features:
- Aims to standardise and simplify netbanking transactions.
- Functions as a new independent switch, not reliant on existing payment rails.
- Enables interoperability across banks — merchants and aggregators won’t need separate bank tie-ups.
- Expected to resolve issues of settlement delays, chargebacks, reconciliations, and lack of visibility in the current system.
- Objective: Standardize netbanking services and improve customer experience across banks.
- Distinctiveness: Unlike existing systems, it removes the need for individual payment aggregators to integrate separately with each bank.
Benefits:
- Enhanced Interoperability: Simplifies settlements, reconciliations, and chargeback processes across banks.
- Dynamic QR Codes: Supports multi-device transactions, allowing initiation on laptops/desktops and authorization via mobile devices.
- Streamlined User Experience: Standardized processes reduce friction for end-users and financial service providers.
5. Viyona Fintech Approved as Third-Party Application Provider (TPAP) by NPCI
Context:
Hyderabad-based Viyona Fintech, a digital payments platform, has been granted approval by the National Payments Corporation of India (NPCI) to operate as a Third-Party Application Provider (TPAP), enabling support for UPI-based transactions.
Key Details:
- Approved Applications:
- GraamPay – flagship platform targeting rural India.
- Viyona Pay – supports UPI-based collections and payments.
- Objective: Expand digital payment access in Tier II, Tier III cities and rural areas.
- Target Users: Farmers, shopkeepers, and households.
- Services Offered:
- UPI transactions
- Digital collections
- Payouts and financial transfers
Third-Party Application Provider (TPAP)
A Third-Party Application Provider (TPAP) is a regulated intermediary that facilitates digital payments (like UPI) between customers and banks through mobile apps or web platforms, without holding the customers’ funds.
Key Features:
- Intermediary Role:
- Acts as a bridge between banks and end-users for payment initiation.
- Enables customers to make UPI-based transactions via third-party apps.
- Regulation:
- Authorized by the National Payments Corporation of India (NPCI).
- Must comply with security, data privacy, and operational standards prescribed by NPCI.
- No Fund Handling:
- Unlike Payment Aggregators, TPAPs cannot hold or settle customer funds; the transaction settlement happens directly between the bank accounts of payer and payee.
- Customer Experience:
- Provides user-friendly interfaces, such as mobile apps, for easy UPI payments, bill payments, and collections.
- Supports multi-bank interoperability, eliminating the need for users to install multiple bank apps.
6. RBI Approves Amendments to Yes Bank’s Articles of Association for Nominee Directors
Context:
The Reserve Bank of India (RBI) has approved changes to Yes Bank’s Articles of Association (AoA) regarding the appointment of nominee directors following a stake acquisition by Sumitomo Mitsui Banking Corporation (SMBC), Japan.
Articles of Association (AoA)
The Articles of Association (AoA) is a legal document that defines the internal rules, regulations, and management structure of a company. It governs the relationship between the company, its shareholders, and its directors.
Key Features:
- Internal Governance:
- Specifies how the company will be managed and controlled.
- Lays down powers, duties, and responsibilities of directors and officers.
- Relationship Rules:
- Governs the relationship between shareholders and the company.
- Includes rights, privileges, and obligations of shareholders.
- Operational Provisions:
- Rules regarding share issuance, dividend distribution, meetings, voting rights, and appointment/removal of directors.
- Can include provisions for nominee directors when a company receives investment from specific investors (like in Yes Bank case with SMBC).
- Legal Requirement:
- Required under the Companies Act, 2013 in India.
- Works alongside the Memorandum of Association (MoA), which defines the company’s objectives and scope of operations.
Examples of AoA Provisions:
- Appointment and removal of directors
- Rights of shareholders in voting and dividends
- Conduct of board and general meetings
- Borrowing powers and issuance of shares
- Rules for nominee directors from investor agreements
Agriculture
1. Agriculture Must Adapt to Changing Weather Patterns
Context:
The 2025 southwest monsoon has started withdrawing a little earlier than usual, after recording about 7% excess rainfall. Forecasts indicate La Niña conditions by October and a colder-than-normal winter ahead. These shifting weather patterns bring both opportunities and risks for Indian agriculture.
Opportunities for Agriculture
- Strong monsoon impact: Reservoirs are filled, and soil moisture is high, which supports Kharif harvests and sets a good base for Rabi sowing.
- Cold weather benefits: Farmers in Rajasthan and North India expect better yields of wheat, barley, and mustard, which thrive in cooler conditions.
- Food security & price stability: A strong Rabi harvest of wheat, pulses, and mustard will strengthen food security, stabilise domestic prices, and may even support higher farm exports.
Risks & Challenges
- Unseasonal Rain: Downpours at harvest can damage crops, reduce quality, and trigger food inflation (notably for perishables like fruits and vegetables).
- Cold Waves: Early chill aids sowing, but prolonged or extreme cold can harm flowering and grain development (e.g., frost concerns in Kutch, Gujarat).
- Lingering La Niña Rains: If rains persist, delayed withdrawal may waterlog fields, hurting yields—especially for perishable crops.
Policy & Farmer-Centric Solutions
- Weather Advisory & Insurance:
- Strengthen weather forecasting services and disseminate frequent advisories.
- Promote wider adoption of crop insurance to protect farmers from unseasonal rain and frost damage.
- Price & Market Stabilisation:
- Monitor food prices, especially perishables.
- Use cold storage, buffer stocking, and transport support to prevent shortages and inflation.
- Water & Infrastructure Management:
- Use reservoir water strategically for irrigation if rains fade.
- Maintain drainage systems in flood-prone zones to prevent waterlogging.
- Export Support:
- Encourage exports of wheat, pulses, and mustard to boost farmer incomes while maintaining domestic stability.
- Long-Term Climate Adaptation:
- Invest in climate-resilient seed varieties, local storage facilities, and advanced forecasting systems.
- Shift from a reactive approach to proactive planning in agriculture policy.
Facts To Remember
1. Kipyegon claims a record fourth title in 1,500m
Kenya’s Faith Kipyegon produced a trademark devastating last lap to win an unprecedented fourth World women’s 1,500 metres title in Tokyo.
2. ICMR licences multi-stage malaria vaccine ‘AdFalciVax’ to five companies
The Indian Council of Medical Research (ICMR) has granted non-exclusive rights for its multi-stage malaria vaccine, AdFalciVax, to five pharmaceutical companies.
3. PM Modi Launches ‘Swasth Nari Sashakt Parivar’ Abhiyan and Rashtriya Poshan Maah from Dhar in Madhya Pradesh
Prime Minister Narendra Modi today launched the nationwide Swasth Nari, Sashakt Parivar Abhiyaan and the 8th Rashtriya Poshan Maah camping from Dhar in Madhya Pradesh.
4. Swachhata Hi Seva Campaign 2025 Launched by Minority Affairs Ministry
The Ministry of Minority Affairs has organised the Swachhata Hi Seva Campaign 2025 from today, which will continue till the 2nd of October on Gandhi Jayanti.
5. ISRO to Invite Private Companies Specialising in On-Orbit Servicing and Refuelling
The Indian Space Research Organisation (ISRO) Chairman, Dr. V. Narayanan, has said that companies specialising in on-orbit servicing and refuelling tech will be invited to work with it. Speaking at the inauguration of the new R&D facility of OrbitAID Aerospace, India’s first space-tech startup in Bengaluru today.
