Daily Current Affairs Quiz
17&18 August, 2025
National Affairs
1. Discovery of New Palm Species: Phoenix roxburghii
Context:
A palm described in the 17th-century botanical treatise Hortus Malabaricus has led to the discovery of a new species and the reclassification of existing ones after recent botanical studies.
New Species Identified:
- Name: Phoenix roxburghii (named after William Roxburgh, “Father of Indian Botany”).
- Habitat: Eastern coast of India, Bangladesh, Gujarat, Rajasthan, and Pakistan.
- Features:
- Height: 12–16 metres
- Tall solitary trunk
- Larger leaves and leaflets
- Musty-scented staminate flowers
- Large obovoid orange-yellow fruits
About Palm Tree
Family & Classification
- Belongs to Arecaceae (Palmae) family.
- Order: Arecales.
- Type: Monocotyledonous flowering plants.
Growth Forms
- Evergreen plant.
- Can grow as:
- Shrubs
- Trees
- Woody vines (lianas)
2. Sakura Science Programme 2025
Context:
A group of 34 Indian students has been flagged off to Japan to participate in the Sakura Science Programme 2025, a flagship youth exchange initiative aimed at promoting scientific curiosity and cross-cultural learning.
About the Programme:
- Full Name: Japan-Asia Youth Exchange Program in Science.
- Implemented by: Japan Science and Technology Agency (JST).
- Launched: 2014 by Japan.
- India’s Participation: Joined in 2016; continues to be an active participant.
Participating Nations:
- Includes India, Egypt, Ghana, Kenya, Nigeria, South Africa, Zambia, and multiple Asian countries.
Key Features:
- Short-term educational visits to Japan.
- Direct exposure to universities, research centres, and scientific institutions.
- Hands-on learning in science, technology, and innovation.
- Interaction with Japanese culture, discipline, and environmental ethics.
Objectives:
- Foster scientific temperament and innovation-driven outlook among youth.
- Strengthen India-Japan educational and cultural ties.
- Expose students to Japan’s technological ecosystem and research practices.
- Develop a global network of future scientists and leaders.
Banking/Finance
1. S&P Global Upgrades India’s Sovereign Credit Rating to ‘BBB’
Context:
S&P Global Ratings has upgraded India’s long-term unsolicited sovereign credit rating to ‘BBB’ from ‘BBB-’ after a gap of 18 years. The decision reflects India’s strong economic resilience, sustained fiscal consolidation, and a stable policy framework.
About S&P Global Ratings
- What it is?
- A leading global credit rating agency that provides independent assessments of credit risk.
- Headquarters:
- New York City, USA
- Aim:
- To enhance corporate transparency and investor confidence by offering credible opinions on creditworthiness.
- Functions:
- Assigns public and private credit ratings
- Provides analytical reports across corporate, government, infrastructure, and insurance sectors
- Helps investors assess the ability of borrowers to meet financial commitments
What does a sovereign credit rating mean?
A sovereign credit rating is like a report card for a country’s ability to repay its debts.
- It reflects how risky or safe it is to lend money to that country.
- Higher ratings = more trust = cheaper borrowing costs.
- Lower ratings = more risk = higher borrowing costs.
Rating Scale
- AAA = safest (like US, Germany).
- BBB and above = “Investment Grade” (safe for big investors).
- BB or lower = “Junk” (risky, speculative).
India was at BBB- (just one step above junk).
Now at BBB, India is seen as more stable and creditworthy.
Why is this important?
- Cheaper Borrowing for Government – When India issues bonds (borrows money), investors will demand lower interest rates because risk is lower.
- Boost for Foreign Investment – Global funds often require at least an “investment grade” rating, an upgrade widens India’s appeal.
- Stronger Rupee & Market Confidence – Better creditworthiness improves India’s global financial standing.
- Policy Validation – Shows that reforms, fiscal discipline, and economic growth are being recognized globally.
2. NSIC Signs MoUs with Private Banks to Boost MSME Credit Facilitation
Context:
To enhance the availability, accessibility, and affordability of credit for micro, small, and medium enterprises (MSMEs), the National Small Industries Corporation (NSIC) signed Memoranda of Understanding (MoUs) with five private sector banks on 11th August 2025 under its MSME Credit Facilitation Program.
Key Highlights:
- Partner Banks: Axis Bank, Dhanlaxmi Bank, Karnataka Bank, AU Small Finance Bank, and IndusInd Bank.
- Objective: To link MSMEs to the formal financial system and expand banks’ outreach to deserving micro and small enterprises.
Some MSME-Related Schemes in India
- Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
- Collateral-free loans up to ₹5 crore.
- Guarantees up to 75–85% of loan amount.
- Encourages banks/NBFCs to lend to MSMEs.
- Prime Minister’s Employment Generation Programme (PMEGP)
- Subsidy scheme for setting up new micro-enterprises.
- Subsidy: 15–35% of project cost depending on category and region.
- Implemented by KVIC (Khadi and Village Industries Commission).
- MUDRA Yojana (Pradhan Mantri MUDRA Yojana – PMMY)
- Loans up to ₹10 lakh under three categories:
- Shishu: up to ₹50,000
- Kishore: ₹50,000 – ₹5 lakh
- Tarun: ₹5 – ₹10 lakh
- Loans up to ₹10 lakh under three categories:
- Self-Reliant India (SRI) Fund
- ₹50,000 crore equity infusion scheme to help MSMEs grow and expand.
3. RBI Floating Rate Savings Bond (FRSB)
Context:
With bank fixed deposit (FD) rates softening after the RBI’s recent rate cuts, investors are exploring safer alternatives for higher returns. One such instrument is the RBI’s Floating Rate Savings Bond (FRSB), which currently offers 8.05% per annum and is backed by the Government of India.
RBI Floating Rate Savings Bond (FRSB):
- A government savings instrument issued by the Reserve Bank of India (RBI) on behalf of the Government of India.
- Launched: July 1, 2020 (replacing the 7.75% Savings (Taxable) Bonds, 2018).
- Known as a safe, risk-free investment since it is backed by the Government of India.
Key Features:
1. Interest Rate (Floating)
- The interest rate is linked to the prevailing National Savings Certificate (NSC) rate + 0.35%.
- Reset every 6 months (January 1 and July 1).
- Current interest rate (as of July 1, 2025): 8.05% (7.70% NSC rate + 0.35%).
- Interest is taxable, but no TDS is deducted.
2. Tenure
- 7 years fixed maturity.
- No premature withdrawal for general investors.
- Exceptions: Senior citizens (age-based lock-in):
- Age 60–70: 6 years
- Age 70–80: 5 years
- Above 80: 4 years
3. Investment Details
- Minimum investment: ₹1,000 (and in multiples of ₹1,000).
- No maximum limit (unlike many other small savings schemes).
- Can be held in demat or bond ledger account at RBI or designated banks.
4. Payment of Interest
- Interest is paid semi-annually (January 1 and July 1).
- Payment is credited directly to the investor’s bank account.
5. Taxation
- Fully taxable under the Income Tax Act.
- Interest income must be declared as “Income from Other Sources”.
- No TDS, but the investor has to pay tax as per their slab.
6. Security
- 100% backed by Government of India → zero default risk.
- Ideal for conservative investors looking for guaranteed income.
Why is it important?
- Provides a safe alternative to fixed deposits, especially for senior citizens.
- Protects against falling interest rates, since it floats with NSC rate.
- Acts as a stable, long-term investment with regular income.
4. B2B Fintechs Eye Retail Market Through TPAP
Context:
Business-to-business (B2B) fintechs in India are increasingly shifting towards the consumer payments market, using third-party UPI applications (TPAPs) as their entry points. The move is aimed at reducing customer acquisition costs (CAC) and monetising their already large user base.
Business-to-Business (B2B) Fintechs in India
- B2B fintechs are technology-driven financial service providers that serve businesses (MSMEs, corporates, startups, banks, NBFCs, etc.) rather than individual consumers.
- They help enterprises with payments, credit, compliance, accounting, lending, and digital infrastructure.
- Unlike B2C fintechs (like PhonePe or Paytm), B2B fintechs operate behind the scenes to power business transactions.
Third-Party UPI Applications (TPAPs)
- Third-Party UPI Application Providers (TPAPs) are apps that offer Unified Payments Interface (UPI) services to users, but are not banks themselves.
- They provide the front-end app/platform while actual payment processing is done through sponsor banks (called Payment Service Providers – PSP banks) connected to NPCI’s UPI system.
- Example: Google Pay, PhonePe, Paytm, Amazon Pay, BharatPe.
Agriculture
1. Discovery of Chalk9 Gene in Rice to Reduce Grain Chalkiness
Context:
Rice, the staple food for over half of the world’s population, often faces the problem of chalkiness in grains, which leads to higher breakage during milling. Recently, researchers from the Agricultural College of Yangzhou University, China, identified a key gene, Chalk9, that controls rice chalkiness.
What’s the Discovery?
Scientists have identified a gene that helps rice grains resist breakage during milling, particularly addressing grains with the trait known as chalkiness, a characteristic that makes them brittle and more prone to cracking when polished
- Breakthrough Discovery:
- Researchers sequenced genomes of 175 rice varieties.
- Found a DNA segment on chromosome 9 strongly linked with chalkiness.
- This segment regulates the Chalk9 gene in the rice endosperm.
- Varieties and Breeding:
- Chalk9-H (high chalkiness) was dominant before 1990.
- Chalk9-L (low chalkiness) increased significantly after 1990 due to breeding programs.
- Now, breeders can directly introduce Chalk9-L to improve grain quality.
What is Chalkiness?
- Rice grains are chalky if large parts of them appear opaque instead of translucent.
- Measured by chalky grain rate and degree of chalkiness.
- Leads to higher breakage during milling.
- Influenced by genetic factors and high temperature.
Why Chalkiness Important?
- Chalky grains are weaker and more likely to break during milling.
- This reduces the recovery of whole, commercially acceptable rice, thereby lowering its quality and market value
Why This Matters?
- Improved Grain Quality: By targeting this gene in breeding programs, scientists can develop rice varieties with lower chalkiness, boosting the yield of whole (unbroken) grains.
- Economic Benefit: Higher rate of unbroken rice translates to better profits for farmers and millers.
- Enhanced Food Value: Whole grains are more prized by consumers, improving both marketability and food quality.
Facts To Remember
1. China’s Wang to arrive for talks as India tries to boost ties with Beijing
India will host Chinese Foreign Minister Wang Yi next week, the Ministry of External Affairs (MEA) said on Saturday, as New Delhi continues efforts to energise its relationship with Beijing amid uncertainties in its trade ties with Washington, another major trading partner.
2. India, China Hold 24th Round of Boundary Talks in New Delhi; Chinese FM Wang Yi to Meet PM Modi
The 24th round of Special Representatives dialogue led by National Security Advisor Ajit Doval and Chinese Foreign Minister Wang Yi on the boundary question between India and China has begun in New Delhi.
3. Press Registrar General Launches ‘Press Sewa’ Portal to Simplify Newspaper, Periodical Registration
Press Registrar General of India (PRGI) Yogesh Baweja has said the Press Sewa portal has been introduced as a single-window solution to simplify the registration process for newspapers and periodicals.
4. One-time online registration for PMVBRY opens
The Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY) portal under the Pradhan Mantri Viksit Bharat Rozgar Yojana has gone live. The scheme will provide incentive of up to 15 thousand rupees in two instalments to newly employed youth and upto three thousand rupees per month per new employee to employers for creation of new job opportunities.
