Daily Current Affairs Quiz
20 December, 2025
International Affairs
1. India–Oman CEPA Signed
Source: TOI
Context:
India and Oman signed a Comprehensive Economic Partnership Agreement (CEPA), India’s second major trade pact in West Asia after the UAE.
About India–Oman CEPA
- A comprehensive trade agreement covering goods, services, investment, mobility, and regulatory cooperation.
- Marks Oman’s first bilateral trade deal since its FTA with the United States in 2006.
Key Features
Zero-duty Market Access
- Oman removed customs duties on 98.08% tariff lines, covering 99.38% of India’s exports.
- Major boost for Indian price competitiveness in West Asian markets.
Gains for Labour-Intensive Sectors
Tariff elimination to benefit:
- Textiles & garments
- Leather products
- Gems & jewellery
- Engineering goods
- Pharmaceuticals
- Automobiles
→ Supports MSMEs, jobs and export-led growth.
Services Sector Liberalisation
- Oman opened 127 sub-sectors for Indian services, including:
- IT & digital services
- R&D
- Professional services
- Education
- Healthcare
Enhanced Workforce Mobility (Mode 4)
- Intra-corporate transferee quota raised from 20% to 50%
- Contractual service suppliers can stay up to 2 years, extendable further
100% FDI in Services
- Full foreign ownership allowed to Indian firms in major Omani service sectors
- Enables long-term commercial presence and Gulf region expansion
AYUSH Access – First Global Commitment
- First time a trade partner committed to traditional medicine across all modes
- Opens Gulf region for Ayurveda, yoga and holistic wellness exports
Faster Pharma Approvals
- Oman to accept certificates from:
- USFDA
- EMA
- UKMHRA
→ Cuts regulatory costs & time → boosts Indian pharma exports
National Affairs
1. ISRO to launch U.S. BlueBird Satellite
Source: TH
Context:
ISRO is set to launch the U.S.-built BlueBird Block-2 communication satellite aboard the LVM3-M6 mission on 24 December 2025, under a commercial arrangement with AST SpaceMobile.
About BlueBird Satellite
- Built by AST SpaceMobile (USA)
- Part of a Low Earth Orbit (LEO) satellite constellation
- Mission Name: LVM3–M6
- Launch Vehicle: Launch Vehicle Mark-3 (LVM3)
- Launch Site: Second Launch Pad, Satish Dhawan Space Centre (SDSC), Sriharikota
- Weight: ~6,500 kg
- Launch Time: 8:54 am IST on 24 December 2025
2. Traditional Medicine Global Library (TMGL) at 2nd WHO Global Summit
Source: Times of India
Context:
At the closing ceremony of the 2nd WHO Global Summit on Traditional Medicine, PM Narendra Modi launched the Traditional Medicine Global Library (TMGL) — a first-of-its-kind international digital platform on traditional health systems.
What is TMGL?
- A digital global repository on traditional medicine systems
- Developed through collaboration between Government of India & WHO
- Hosts scientific data, policy documents, research papers, standards, and regulatory guidelines
- Covers traditional systems like Ayurveda, Siddha, Unani, Homeopathy, Yoga, and global equivalents
Coverage
- Data from 194 countries included
- Consolidates fragmented regional knowledge into one global platform
- Supports evidence-based research, policy-making, training, and regulation
Objectives
- Enable trustworthy, science-backed access to traditional medical knowledge
- Promote global collaboration in research and clinical practice
- Guide safe integration of traditional medicine into modern healthcare
- Strengthen digital access and innovation in traditional medicine
About the Summit
- Organised by: World Health Organization (WHO)
- Hosted by: Government of India
- Venue: Bharat Mandapam, New Delhi
- Theme focus: Traditional Medicine, Science, Innovation & Global Health
- Duration: Three-day summit
3. Erivan Anomalous Blue Butterfly
Context:
Armenia has officially released the logo for COP17 of the Convention on Biological Diversity (CBD), showcasing the Erivan Anomalous Blue (Polyommatus eriwanensis) — a rare butterfly endemic to the region.
About Erivan Anomalous Blue (Polyommatus eriwanensis)
- A rare blue butterfly species endemic to Armenia.
- Named after Yerevan (historically called Erivan).
- Occurs only in the southern Transcaucasia region.
- Found in calcareous grasslands of Armenia.
- Univoltine species — produces one generation a year.
Conservation Status
- Not listed under Global or European IUCN Red Lists.
- Classified as Endangered in the Red Book of Animals of Armenia (2010).
- Range overlaps with:
- Khosrov Forest State Reserve
- Gnishik Protected Landscape
4. Ponduru Khadi receives GI Tag
Context:
Ponduru Khadi, a traditional handspun and handwoven cotton fabric from Andhra Pradesh, has been granted the Geographical Indication (GI) tag by the Geographical Indications Registry.
Key Points
- Locally known as: Patnulu
- Location: Produced exclusively in Ponduru village, Srikakulam district, Andhra Pradesh.
- Significance: Showcases the region’s rich textile heritage and skilled craftsmanship.
- ODOP Recognition: Nominated under the One District One Product (ODOP) scheme, reinforcing its cultural and economic importance for Srikakulam.
About Ponduru Khadi
- Known for high-quality handspun yarn, smooth finish, and fine weaving.
- Cotton is processed traditionally using local varieties and eco-friendly techniques.
- Supports rural livelihoods and preserves heritage craft traditions.
About Andhra Pradesh
- Capital: Amaravati
- Chief Minister: N. Chandrababu Naidu
- Deputy CM: Pawan Kalyan
- Governor: Abdul Nazeer
Banking/Finance
1. RBI Board Approves Risk-Based Deposit Insurance
Source: TH
Context:
The RBI’s Central Board of Directors has approved a risk-based deposit insurance framework for banks during a meeting held in Hyderabad.
About the Risk-Based Deposit Insurance Framework
- Transition from the existing flat premium structure to a model where insurance premiums vary based on the financial risk profile of individual banks.
- Aim:
- Differentiated premium charges based on bank soundness
- Reduce burden on financially strong banks
- Encourage better risk management
- Detailed notification is expected soon, and the framework will become operational from the next financial year.
Existing System
- Operated by the Deposit Insurance and Credit Guarantee Corporation (DICGC) since 1962.
- Banks currently pay 12 paise per ₹100 of assessable deposits as insurance premium.
- Uniform charges apply to all banks irrespective of risk levels.
Why Change Was Needed?
RBI said the flat-rate model:
- Is simple but does not reward safer banks
- Fails to reflect differences in risk exposure
- Can lead to cross-subsidisation by stronger banks
The risk-based model will allow:
- Premium alignment with bank-specific risk
- Incentives for better governance
- Efficiency and fairness in the insurance system
2. IRDAI proposes allowing insurers to invest 20% in debt of public infra SPVs
Source: BS
Context:
The Insurance Regulatory and Development Authority of India (IRDAI) has proposed a regulatory change permitting insurers to invest up to 20% of their controlled fund in debt instruments issued by public limited Special Purpose Vehicles (SPVs) operating in the infrastructure sector.
Key Highlights of the Proposal:
- Investment Scope
- Insurers may invest up to 20% of their funds in debt instruments issued by infrastructure SPVs.
- Condition: Projects must have commenced commercial operations with stabilised cash flows.
- Removal of Guarantee Requirement
- The draft circular removes the earlier requirement of a parent company guarantee, making it easier for insurers to invest.
- Use of Funds
- Proceeds must be used only for refinancing existing debt of the SPV.
- Asset Quality Criteria
- Underlying debt must be classified as standard in the lender’s records.
- Issued instruments must have a minimum AA credit rating to qualify as approved investments.
What is an SPV?
A Special Purpose Vehicle (SPV) is a legally separate entity created to carry out a specific project or purpose — often used in infrastructure, real estate, energy, road, and transport projects.
Public Limited SPV
A public limited SPV is:
- Registered as a public limited company under the Companies Act
- May raise funds from the capital markets
- Has greater financial transparency and regulatory oversight
- Operates only for a specific project or activity
3. Employees’ Deposit Linked Insurance (EDLI) Scheme
Source: ET
Context:
EPFO has announced that weekends, holidays and job gaps up to 60 days will no longer be treated as a break in service while determining eligibility for insurance benefits under the Employees’ Deposit Linked Insurance (EDLI) scheme.
What will now be treated as continuous service?
- Weekends & weekly offs (Sat/Sun) between jobs
- National, gazetted, State & restricted holidays
- Job gap up to 60 days, if member worked in multiple EPF-covered establishments
Employees’ Deposit Linked Insurance (EDLI) Scheme
The EDLI Scheme (1976) is a compulsory life-insurance cover provided to all employees who are members of the Employees’ Provident Fund (EPF). It ensures a lump-sum financial benefit to the nominee/legal heir in case the employee dies while in service, regardless of cause, location, or duration of employment.
Key Features
- Automatic Cover
- No separate registration — coverage applies automatically to all EPF members.
- No Employee Contribution
- Employees pay ₹0. Contribution is entirely by the employer.
- Employer Contribution
- Employer pays 0.5% of basic wages + DA (up to a ceiling wage of ₹15,000).
- Insurance Benefit
- Lump-sum amount to nominee on death during service:
- Maximum payable: ₹7 lakh
- Minimum assured benefit also mandated
- Universal Coverage
- Covers death due to natural causes, illness, accident, workplace or elsewhere, even abroad.
Facts To Remember
1. Headline CPI inflation fell to: 0.3% in October 2025
Driven mainly by declining food prices. Current inflation is below the lower bound of India’s flexible inflation targeting framework.
2. Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin) (VB-G RAM G) Bill
President Droupadi Murmu on Sunday gave her assent to the Viksit Bharat Guarantee for Rozgar and Ajeevika Mission (Gramin) (VB-G RAM G) Bill, the rural development ministry said.
3. ISRO conducts fresh parachute tests for Gaganyaan crew return system
ISRO has successfully conducted another round of crucial parachute qualification tests to validate the crew module deceleration system for the Gaganyaan human spaceflight mission. The tests are designed to ensure safe re-entry and landing of astronauts returning from orbit.
4. Gujarat’s Mitiyaj Becomes First Village to Run Gram Panchayat Office at Night
Mitiyaj village in Gir Somnath district, Gujarat, has become the first village in the state to run its Gram Panchayat office during night hours to improve accessibility for working residents.
5. Italy Becomes First Country to Have Entire National Cuisine Recognized by UNESCO
Italy has become the first country in the world to have its entire national cuisine recognised as part of UNESCO’s Intangible Cultural Heritage (Dec 2025).
6. Shafali Verma Named ICC Women’s Player of the Month – November 2025
India opener Shafali Verma won the ICC Women’s Player of the Month award (Nov 2025) after her match-winning 87*(78) in the Women’s World Cup final vs South Africa in Navi Mumbai.
Men’s winner (Nov 2025)
- Simon Harmer (South Africa) – standout spin performance vs India
Recent ICC Player of the Month Awards
Men
| Month 2025 | Winner | Country |
|---|---|---|
| Aug | Mohammed Siraj | India |
| Sep | Abhishek Sharma | India |
| Oct | Senuran Muthusamy | South Africa |
Women
| Month 2025 | Winner | Country |
|---|---|---|
| Aug | Orla Prendergast | Ireland |
| Sep | Smriti Mandhana | India |
| Oct | Laura Wolvaardt | South Africa |
7. Shashwat Sharma to Become MD & CEO of Airtel India
Shashwat Sharma appointed MD & CEO, Airtel India, effective 1 January 2026, for a five-year term.
8. PM Modi Receives Ethiopia’s Highest Civilian Honour
Honour Received
“The Great Honour Nishan of Ethiopia”
Awarded by: PM Abiy Ahmed Ali
Venue: Addis International Convention Centre
9. PM Modi Conferred Oman’s Highest Civilian Honour
Honour Received
“The First Class of the Order of Oman”
Awarded by: Sultan Haitham bin Tariq
Reason: Strengthening India–Oman ties
10. Veteran Karnataka Leader Shamanur Shivashankarappa Passes Away
Obituary
- Senior Congress MLA, Davangere South
- Former Karnataka minister
- Passed away at age 94 in Bengaluru
- Known for social service & cooperative sector contribution
11. PM Modi Extends Greetings to SSB Personnel on Raising Day
Prime Minister Narendra Modi has extended his greetings to all personnel of the Sashastra Seema Bal (SSB) on the occasion of its Raising Day.
12. Sri Sri Ravi Shankar Leads Meditation at UN on Second World Meditation Day
Recalling Lord Krishna’s teaching to Arjuna on meditation yoga in the battlefield, Indian guru and spiritual leader Sri Sri Ravi Shankar brought the lessons of the ancient practice to the United Nation, which encapsulates a world wracked by conflict and war.
14. India Emerges as World’s Third-Largest Domestic Aviation Market
India stands proudly as the world’s third-largest domestic civil aviation market, reflecting the rapid growth of the sector.
15. Government Launches Bharat Taxi, a Driver-Owned Ride-Hailing Initiative
The Government has launched Bharat Taxi on the first of this month for customers which is a cooperative-based mobility initiative aimed at providing a fair, transparent, and driver-owned alternative in India’s ride-hailing sector.
