Daily Current Affairs (DCA) 21&22 September, 2025

Daily Current Affairs Quiz
21 & 22 September, 2025

National Affairs

1. UN Report: Gender Snapshot 2025

Source: TOI

Context:

A recent UN report (Gender Snapshot 2025) indicates that women’s jobs globally face greater susceptibility to automation and AI-driven displacement compared to men’s jobs.

Key Findings:

• Risk Percentage:
  • Approximately 28% of women’s jobs are estimated to be at risk due to AI and automation, compared to 21% for men.
• Workforce Representation:
  • Women constitute roughly 29% of the global tech workforce, but only about 14% of tech leadership roles.
• Gender Digital Divide:
  • The report emphasizes that unless actions are taken, AI could widen gender inequalities, especially as the jobs women hold are often more vulnerable to automation, less well-compensated, or in sectors less digitally protected.
• Potential Gains of Bridging the Gap:
  • If gender digital inclusion improves, possible outcomes by 2030 include lifting millions out of poverty, improving food security, and contributing significantly to global growth (often cited in the range of US$1.5 trillion globally).

Recommendations

• Skill Development
  • Invest in women’s digital and technical skills
  • Prepare women for jobs in AI, tech, and other digital sectors
• Economic Transitions
  • Facilitate women’s movement across sectors affected by technological disruption
• Policy Measures
  • Implement gender-responsive labour policies
  • Strengthen social protection measures to prevent disproportionate job losses among women

2. Kilnamandi Sarcophagus Redraws Harappan Age Trade Map

Source: TOI

Context:

Archaeologists in Tamil Nadu discovered a terracotta sarcophagus in Kilnamandi village (Tiruvannamalai district). The deposit (charcoal from a funeral pyre) was dated via AMS radiocarbon method to 1692 BCE, placing it in the Late Harappan period

About the Sarcophagus:

• What it is:
  • A terracotta coffin used for burials, containing charcoal, pottery, and grave goods.
  • Provides insights into burial practices and socio-cultural life of ancient Tamilakam.
• Where it was found:
  • Site: Kilnamandi village, Tiruvannamalai district, Tamil Nadu.

Key Findings:

• Evidence of Trade Links
  • Carnelian beads found in the burial were sourced from Gujarat and Maharashtra
  • Suggests long-distance trade between southern India and northern Harappan centres during the late Harappan period
• Graffiti Marks and Cultural Links
  • Potsherds around the sarcophagus carry graffiti symbols: fork-like shapes, semiconcentric circles in U-formation, vertical strokes with wavering lines
  • Parallels found between Tamil Nadu graffiti and Indus Valley markings: ~90% similarity
  • Dating pushes the graffiti tradition in Tamil Nadu back to 17th century BCE
• Archaeological Insights
  • Grave goods suggest complex societal structures and possibly clan-specific burial practices
  • Other objects: iron tools, pottery finds, indicating technological advancement and material culture

3. CAG’s State Finances Publication 2025

Source: IE

Context:

The Comptroller & Auditor General of India (CAG) released the State Finances Publication 2025, highlighting a sharp rise in states’ salary bills and debt burden over the past decade.

About the Publication:

• Annual report by the CAG covering all 28 states.
• Tracks revenue, expenditure, debt, subsidies, and fiscal sustainability.
• Acts as a guide for policymakers to understand state-level fiscal risks.

Key Highlights (2025 Report):

• Salary Bills: Increased 2.5 times in 10 years, touching ₹16.6 lakh crore; biggest component of committed expenditure.
• Subsidies: Tripled to ₹3.09 lakh crore. Punjab leads with subsidies at 17% of total expenditure.
• Committed Expenditure: Accounts for 43.5% of revenue expenditure. Highest in Nagaland (74%) and Kerala (63%).
• Public Debt: Jumped 3.4 times to ₹59.6 lakh crore, nearly 23% of combined GSDP, raising medium-term fiscal risk.
• Union Tax Devolution: States’ average share stayed ~27%. Five states (UP, Bihar, MP, West Bengal, Maharashtra) received 50% of devolved taxes.

4. Logistics Ease Across Different States (LEADS) 2025

Context:

Launched by Union Commerce & Industry Minister in New Delhi during the 10-year celebrations of Make in India. Aims to benchmark and enhance the logistics ecosystem across Indian States and Union Territories (UTs).

About LEADS:

• Full Form: Logistics Ease Across Different States.
• Administered by: Ministry of Commerce & Industry, Department for Promotion of Industry and Internal Trade (DPIIT).
• Purpose:
  • Rank States/UTs on logistics performance.
  • Identify gaps and best practices.
  • Guide policy reforms, infrastructure planning, and capacity building.
  • Reduce logistics costs and improve supply chain efficiency.

Assessment Criteria:

1. Infrastructure Quality: Roads, warehousing, multimodal connectivity.
2. Services: Availability, quality, and reliability of logistics services.
3. Efficiency: Timeliness, truck turnaround time, ease of clearances.
4. Policy Support: State-level facilitation measures, grievance redressal.
5. Stakeholder Perception: Industry feedback on cost, speed, reliability.

Key Features of LEADS 2025:

• Corridor Performance Tracking: Monitors 5–7 national corridors using journey time, truck speed, and waiting time.
• API-Enabled Data: Real-time section-wise speed evaluation on major road corridors.
• State Rankings & Categories: States classified as Leaders, Achievers, and Aspirers to promote healthy competition.
• Policy Recommendations: Tailored interventions for States/UTs based on performance.
• Digital Dashboard: Interactive platform for continuous monitoring by States/UTs.

Banking/Finance

1. EPFO Allows Part Payments in PF Settlements to Prevent Financial Distress

Source: BS

Context:

The Employees’ Provident Fund Organisation (EPFO) has directed its regional and zonal offices to process part payments in provident fund (PF) settlement claims instead of rejecting them outright in certain cases. The move is aimed at reducing financial hardship for members facing settlement delays due to employer defaults or transfer-related issues.

Key Highlights:

New EPFO Directive

• Offices should not reject PF settlement claims in cases of incomplete contributions or transfer delays.
• Instead, part payments of available accumulations must be processed.
• This aligns with para 10.11 of the Manual of Accounting Procedure (MAP) Part-IIA, which allows such settlements.

Situations Eligible for Part Payments

According to EPFO’s accounting manual, part payments can be made in the following cases:

1. Defaulting establishments (non-remittance of employer contribution).
2. Non-receipt of Form 3A (annual contribution details).
3. Past accumulations not realised in full.
4. Transfer of PF accumulations not received from previous employer.
5. Partial claims where the eligible person has not claimed the full amount.

Monitoring and Process

• All part payment cases must be recorded in a register of part-payments.
• Offices must review cases every month.
• Once the pending amount becomes available, the office should make further payments automatically, without requiring a fresh claim from members.

Recent Digital Reforms by EPFO

• Members can now access all key services and PF details with a single login on the EPFO portal.
• These measures are part of EPFO’s ongoing efforts to improve ease of access and timely settlement of claims.

2. CBIC to Launch Advanced GST Invoice Management System

Source: ET

Context:

The Central Board of Indirect Taxes and Customs (CBIC) is developing an advanced invoice management system for GST.

Objective: Stop unnecessary system-generated mismatch notices and streamline dispute resolution for taxpayers.

Key Features of the New System

• Prevention of Automatic Notices
  • System will prevent auto-generation of mismatch notices triggered by minor discrepancies between GST returns.
  • Currently, ~2 lakh notices are sent annually, covering nearly ₹10 lakh crore in disputes.
• Direct Correction Facility
  • Taxpayers will be able to rectify mismatches directly on the portal instead of receiving formal notices.
  • This includes reconciliations between various forms:
    • GSTR-1: Outward supplies
    • GSTR-2A/2B: Inward supplies
    • GSTR-6: Input Tax Credit distribution
    • GSTR-3B: Monthly return for tax payment
• Reduction in Litigation and Compliance Burden
  • Currently, businesses spend considerable time responding to every mismatch notice, even if errors are minor or timing-related.
  • New system will reduce trade compliance burden and cut down unnecessary litigation.
• Integration with Existing Facilities
  • Existing tools like GSTR-1A (for outward invoices) and the invoice management system (for inward invoices) are optional and not fully aligned.
  • The new software will offer a more harmonized, trade-friendly solution, enabling corrections during annual return preparation.

Central Board of Indirect Taxes and Customs (CBIC)

• CBIC is the apex body for administering indirect taxes in India.
• CBIC traces its roots to older boards, it’s constituted under the Central Boards of Revenue Act, 1963.
• Functions under the Department of Revenue, Ministry of Finance.
• Earlier known as Central Board of Excise and Customs (CBEC), renamed in 2018 after introduction of GST.
• Sanjay Kumar Agarwal is the present Chairperson of CBIC

3. FACEs Debt Collection Norms: New Benchmark for Fintechs and NBFCs

Source: BS

Context:

The Fintech Association for Consumer Empowerment (FACE) has rolled out self-regulatory norms on debt collection, aligning with RBI’s digital lending guidelines. These norms aim to bring discipline, transparency, and borrower protection into the lending ecosystem.

Key Highlights:

• Fintech: Fintech (short for Financial Technology) refers to the use of digital technologies, such as software, apps, and algorithms, to provide and automate financial services and products, making them more accessible, efficient, and less costly.
• Governance & Conduct: Norms cover governance, agent behaviour, borrower disclosures, data protection, and digital/field recovery safeguards.
• Objective: Create a robust, respectful, and responsible debt collection process, ensuring fair treatment of borrowers.
• Symbiotic Link: FACE stresses that strong debt collection improves lenders’ confidence, reduces delinquencies, and expands access to credit.
• Industry Impact: Debt recovery discipline could reshape business models, especially for unsecured lending.
• Benchmark Effect: Experts believe FACE’s framework will serve as a template for other SROs (NBFCs, microfinance, BCs).

Fintech Association for Consumer Empowerment (FACE)

• Name: Fintech Association for Consumer Empowerment (FACE)
• Type: Non-profit Section 8 company
• Founded: September 2020
• Location: Mumbai, Maharashtra

Recognition & Role

• SRO-FT Status: FACE is recognised by the Reserve Bank of India (RBI) as the Self-Regulatory Organisation for the FinTech sector (SRO-FT).
• A self-regulatory organization (SRO) is a non-governmental body that creates and enforces industry-specific rules, standards, and ethical guidelines for its members, often under the oversight of a government regulator.
• It was the only association approved under RBI’s fintech SRO framework as of August 2024.
• Mission & Vision:
  1. Promote responsible, consumer-centric fintech services that are safe, transparent, and suitable.
  2. Build a nurturing fintech ecosystem where innovation and consumer protection go hand in hand.

4. Stablecoin

Source: BS

Context:

Stablecoins, pegged to the US dollar and designed to reduce crypto volatility, are seeing significant adoption in India even though they lack regulatory backing. This comes as the Reserve Bank of India (RBI) pilots its own Central Bank Digital Currency (CBDC) as a sovereign alternative.

Key Highlights:

• What are Stablecoins?
  • Private cryptocurrencies like Tether (USDT) and USD Coin (USDC), pegged to the US dollar with 1:1 convertibility.
  • Used widely in crypto trading and cross-border remittances for instant, low-cost transfers.
• Adoption in India:
  • India reportedly has 314 million stablecoin holders, the highest in the world.
  • Users prefer them for global acceptability and faster remittances compared to banks.
• Global Context:
  • The US passed the GENIUS Act (2025), providing a regulatory framework for stablecoins.
  • However, risks remain—as seen in the TerraUSD collapse (2022), which wiped out $60 billion.
• Risks in India:
  • No legal recognition or customer protection.
  • Private stablecoins may collapse if issuers fail or pegs break.
• RBI’s CBDC as Alternative:
  • RBI released a CBDC concept note (2022) and is conducting pilots.
  • CBDC will be equivalent to sovereign-backed digital cash, ensuring public trust, security, and programmability.
  • Designed to coexist with bank deposits and UPI-based digital payments, not disrupt them.

5. Clearing Corporation of India Ltd (CCIL)

Source: ET

Context:

On September 19, 2025, RBI Governor Sanjay Malhotra invited the Clearing Corporation of India Ltd (CCIL) to build infrastructure for trading and settling currency pairs beyond USD–INR, aligning with India’s broader objective of rupee internationalisation.

Background:

• CCIL was set up in April 2001 following recommendations of the Sodhani Committee (1995) and subsequent committees on forex and settlement systems.
• Promoted by SBI, LIC, BoB, IDBI, HDFC Bank, and ICICI Bank.
• First chairman: R.H. Patil (founder of NSE).
• Emerged after the East Asian Financial Crisis (1997) highlighted risks in weak settlement systems.

Key Functions of CCIL:

• Clearing & Settlement: Acts as a Central Counterparty (CCP) in government securities, forex, money markets, and OTC derivatives.
• Risk Management: Provides guaranteed settlement by novation, reduces bilateral counterparty risks, and ensures financial stability through collateral/margins.
• Platforms Managed:
  • NDS-OM (Negotiated Dealing System–Order Matching): Primary platform for government bond trading.
  • PDO-NDS: Facilitates electronic bidding in government securities.
  • FX-Retail: Transparent forex platform for individuals and MSMEs.
  • Retail Direct (with RBI): Enables retail investors to invest directly in G-Secs (minimum reduced from ₹10 lakh to ₹10,000).

Subsidiaries:

1. Clearcorp Dealing Systems (2003): Runs electronic trading platforms.
2. Legal Entity Identifier India Ltd (2015): Issues globally compatible LEIs.
3. CCIL IFSC Ltd (2024): Strengthens market infra at GIFT City.

6. SMFG India Credit Partners with PhonePe to Offer Collateral-Free Credit

Source: ET

Context:

SMFG India Credit (SMICC), a Non-Banking Financial Company (NBFC), has partnered with PhonePe to provide collateral-free credit to merchants.

Key Highlights:

• Type of Credit: Merchant Cash Advance (MCA) loans for registered merchants on the PhonePe platform.
• Target Audience: Merchants in Tier-2 and Tier-3 towns, supporting small businesses in semi-urban and rural India.
• Objective: Strengthen SMICC’s role as a leading lender in the MCA space and improve access to working capital for small merchants.

Who are Micro-Merchants?

• Micro-merchants are very small business owners, usually self-employed or family-run enterprises, with low annual turnover (often below ₹50 lakh in India).
• They typically have 1–5 workers (sometimes just the owner) and operate at a neighborhood or community level.
• They form a subset of MSMEs (Micro, Small and Medium Enterprises), but at the smallest end of the spectrum.
• Example:
  • A kirana (grocery) shop in a small town
  • A street vendor selling vegetables or snacks

7. Paytm Launches UPI Credit Line ‘Paytm Postpaid’ with Suryoday SFB

Context:

Paytm, in collaboration with Suryoday Small Finance Bank (SFB), has introduced a credit line on UPI called Paytm Postpaid.

Key Highlights:

• Type of Credit: Short-term, interest-free credit for up to 30 days, repayable the following month.
• Usage: Can be used for online shopping, UPI payments, bill payments, recharges, and bookings on the Paytm app.
• Infrastructure: Powered by NPCI and leverages Paytm’s UPI payment platform for seamless transactions.

Significance:

• Financial Inclusion: Provides easy access to short-term credit for users without the need for formal loans.
• Digital Payments Growth: Encourages wider adoption of UPI-based credit and digital transactions.
• Convenience for Consumers: Enables users to manage monthly expenses without interest, promoting responsible digital credit usage.

8. Tax Loss Harvesting (TLH) Code

Context:

The Securities and Exchange Board of India (SEBI) has introduced measures to simplify the transfer of securities from nominees to legal heirs, reducing tax and compliance burdens.

Objective: Facilitate smooth transfer of securities upon the death of an investor, easing financial processes for legal heirs.

What is Tax Loss Harvesting (TLH)?

• Tax Loss Harvesting (TLH) is a strategy where investors sell securities at a loss to offset capital gains made elsewhere.
• This helps reduce the overall tax liability on capital gains.
• Later, the investor may reinvest in similar (but not identical) securities to maintain portfolio allocation.

TLH Code by SEBI

• Recently, SEBI introduced the Tax Loss Harvesting (TLH) Code to streamline securities transfer and reporting.
• The TLH Code ensures uniform classification of transactions made solely for the purpose of booking a loss (to adjust against capital gains).
• It will help distinguish genuine transfers from tax-loss-driven transfers, bringing transparency and reducing misuse.

Why is TLH Code Important?

• Standardization: Provides a common identifier for such transactions across brokers, exchanges, and depositories.
• Transparency: Tax authorities can clearly track when a transaction was done only for harvesting losses.
• Ease for Investors: Helps taxpayers claim legitimate tax benefits without confusion.
• Reduced Litigation: Minimizes disputes between taxpayers and tax authorities regarding the intent of transactions.

Example

• Suppose you sold Stock A at a ₹50,000 loss and made a ₹70,000 profit from Stock B.
• Using TLH, you can offset ₹50,000 from the profit, paying capital gains tax only on ₹20,000.
• Under the new TLH Code, this transaction would be marked/tagged properly in the system.

Agriculture

1. HyFarm Paathshala: Empowering Farmers with Knowledge

Context:

Ahmedabad-based HyFarm, a vertical of the HyFun Group, has launched an innovative farm school that shifts learning from classrooms to the actual fields. The initiative, called Paathshala, combines traditional practices with modern technology to make farming more efficient, sustainable, and profitable.

Key Highlights:

• Pilot Project and Convocation
  • Over 30 farmers and their families in North Gujarat participated in the pilot project.
  • Farmers were honored at the first-ever Paathshala Convocation Ceremony in Ahmedabad.
  • These trained farmers are now seen as pioneers in potato cultivation.
• Training Focus
  • Soil testing and seed treatment.
  • Balanced nutrition and precision irrigation.
  • Optimized planting techniques.
  • Best harvest practices to reduce losses and improve tuber quality.

Significance

• Farmers trained under Paathshala now return as ambassadors of modern farming.
• Initiative strengthens farmer economics, enhances food quality, and supports India’s role in global potato markets.
• Aligns with sustainable agriculture goals by improving resource efficiency and farmer profitability.

Facts To Remember

1. CM launches ‘MLA on Wheels’ initiative for grassroots governance

Chief Minister Rekha Gupta on Saturday launched the ‘MLA on Wheels’ initiative to bring governance closer to the people and resolve their grievances.

2. Tourism Ministry launches national young chef contest

In order to promote Indian cuisine, a culinary contest is being organised for young chefs across the country by the Union Tourism Ministry for the first time.

3. Mohanlal to receive Dadasaheb Phalke Award

The Ministry of Information & Broadcasting on Saturday announced that actor Mohanlal will be presented the country’s highest film honour, the prestigious Dadasaheb Phalke Award, for 2023. The award will be presented at the 71^st National Film Awards ceremony on September 23.

4. GST Exemption on Life and Health Insurance Policies

From September 22, 2025, all individual life and health insurance policies in India, along with their reinsurance, will be fully exempted from Goods and Services Tax (GST). The GST Council’s decision aims to improve affordability and boost insurance penetration across the country.

5. ISLRTC organises programme to celebrate Sign Language Day 2025 in new delhi

Indian Sign Language Research and Training Centre (ISLRTC), under the Department of Empowerment of Persons with Disabilities, will organise a programme to celebrate ‘Sign Language Day – 2025’, in New Delhi.

6. NHRC launches online Short Term Internship Programme for college and university students

The National Human Rights Commission (NHRC) began its Online Short Term Internship Programme (OSTI). The two-week programme aims to provide college and university students with a comprehensive understanding of the promotion and protection of Human Rights in the country.

7. CDS General Anil Chauhan inaugurates first Tri-Services Academia Technology Symposium in New Delhi

Chief of Defence Staff General Anil Chauhan today inaugurated the first Tri Services Academia Technology Symposium in New Delhi. The symposium is themed Victory through Wisdom and Researchaims to bridge the gap between academic innovation and military needs. 

8. Prime Minister inaugurates developmental works of Mata Tripura Sundari temple under the PRASHAD scheme

Prime Minister Narendra Modi today inaugurated the developmental works of Mata Tripura Sundari temple under the PRASHAD scheme. With the inauguration of the developmental works, a new chapter has been added to Tripura’s rich cultural and spiritual heritage. 

9. 28th National Conference on e-Governance 2025 Kicks Off in Visakhapatnam

The Department of Administrative Reforms & Public Grievances (DARPG) and the Ministry of Electronics & Information Technology (MeitY), in collaboration with the Government of Andhra Pradesh, are organising the 28th National Conference on e-Governance (NCeG) 2025, in Visakhapatnam.