Daily Current Affairs (DCA) 23 July, 2025

Daily Current Affairs Quiz
23 July, 2025

National Affairs

1. Safety Failures in Sewer Deaths Across India

Context:

A social audit commissioned by the Ministry of Social Justice and Empowerment has exposed gross negligence in the safety protocols followed during hazardous cleaning of sewers and septic tanks in India. The findings were tabled in Parliament in July 2025.

Key Findings of the Social Audit

• Extent of the Study:
  • Covered 54 sewer and septic tank deaths across 17 districts in 8 States and Union Territories during 2022–2023.
• Lack of Safety Gear:
  • 49 of 54 workers had no safety equipment at the time of death.
  • Only 5 had gloves, and 1 had both gloves and gumboots.
  • 47 cases showed no mechanized equipment or safety gear was made available.
  • Only 2 cases had equipment, and only 1 worker had received proper training.
• Consent and Employment Practices:
  • Consent was not taken in 27 cases, while in 18 cases where it was, no risk counseling was done.
  • 38 workers were hired informally (individually/contractually).
  • Only 5 workers were directly employed by a government agency.
  • 3 workers employed by PSUs were subcontracted to private entities.
• Institutional Failures:
  • Agencies lacked equipment readiness in 45 of the 54 cases.
  • Partial awareness drives followed only 7 deaths, limited to Tamil Nadu and Maharashtra districts.

National Trends and Government Response

• 150 total deaths from hazardous cleaning were officially recorded in 2022 and 2023.
• The government reiterated that manual scavenging is officially abolished, and focus is now on hazardous cleaning-related fatalities.
• NAMASTE Scheme launched in July 2023 to rehabilitate and support sanitation workers.
  • 84,902 workers identified so far under NAMASTE.
  • Just over 50% have received PPE kits and safety gear.

TH

2. World Bank Report Warns of Climate Risks to Indian Cities

Context:

The World Bank, in partnership with the Union Ministry of Housing and Urban Affairs, has released a critical report titled “Towards Resilient and Prosperous Cities in India”, warning that India’s urban growth is at risk due to increasing climate vulnerabilities, especially heat waves and urban flooding.

Key Findings of the Report:

• Urbanisation and Economic Potential
  • Urban population to nearly double: From current levels to 951 million by 2050.
  • Cities are projected to contribute 70% of new jobs by 2030, highlighting their central role in India’s economic trajectory.
  • Over 144 million new homes will be required by 2070 to accommodate this population growth.
• Climate Risks Threaten Urban Prosperity
  • Extreme heat and heat islands: Temperatures in city centres are already 3–4°C higher than surrounding areas due to the urban heat island effect.
  • Increased flood vulnerability: Rapid construction and shrinking green spaces are reducing cities’ ability to absorb stormwater, intensifying urban flooding.
  • Massive economic risks: Without climate adaptation, billions of dollars in future losses are anticipated from extreme weather events.
• Infrastructure Opportunity
  • Over 50% of urban infrastructure needed by 2050 is yet to be built, offering a once-in-a-lifetime opportunity to integrate climate resilience from the ground up.
• Case Studies and Focus Cities
  • The report examined 24 Indian cities, with special focus on:
    • Chennai
    • Indore
    • New Delhi
    • Lucknow
    • Surat
    • Thiruvananthapuram

Key Recommendations

To safeguard urban growth and vulnerable populations, the World Bank recommends:

• Climate-Resilient Infrastructure: Investment in green urban development including housing, mobility, drainage, and municipal services.
• Urban Heat Mitigation Measures:
  • Cool roofs,
  • Expanding green spaces,
  • Tree plantation,
  • Improved ventilation in buildings.
• Flood Management Solutions:
  • Better stormwater regulation,
  • Rainwater harvesting,
  • Urban wetlands protection.
• Early Warning Systems: For heat waves and floods, to protect the urban poor and reduce disaster-related casualties.

TH

Banking/Finance

1. FACE Issues Code of Conduct for Regtech Firms to Boost Regulatory Cooperation

Context:

In a first-of-its-kind move, the Fintech Association for Consumer Empowerment (FACE) has introduced a comprehensive Code of Conduct for regulatory technology (regtech) firms in India. This development aims to instill greater accountability, transparency, and alignment with regulatory expectations in the rapidly evolving fintech ecosystem.

What is Regulatory Technology (RegTech)?

RegTech, short for Regulatory Technology, refers to the use of technology to help businesses comply with regulations more efficiently and effectively, especially in highly regulated sectors like finance, insurance, healthcare, and legal services.

Definition

RegTech is the application of AI, machine learning, big data, cloud computing, and blockchain to automate and streamline regulatory compliance processes. It enables real-time monitoring, reporting, and risk management in a cost-effective manner.

Key Features of RegTech

• Automation of compliance tasks (e.g., KYC, AML checks)
• Real-time monitoring of transactions and activities
• Data analytics for risk profiling and regulatory reporting
• Audit trails and secure records for regulatory authorities
• Adaptive systems that evolve with regulatory changes

Key Highlights of the Code:

Mandatory Regulator Cooperation

• RegTech firms must fully cooperate with regulators during inspections.
• Provide access to:
  • IT systems
  • Data and documents
  • Information from third-party vendors

Six-Month Implementation Timeline

• FACE member firms must fully adopt the code within 6 months.

Scope of the Code

Covers multiple policy areas:

• Regulatory compliance & engagement
• Data privacy & cybersecurity
• Responsible tech innovation
• Employee conduct & training
• Third-party audits & system testing
• Grievance redressal mechanisms

Data Security & User Rights

• Encrypt sensitive data and enforce access controls
• Conduct regular vulnerability audits
• Adhere to DPDP Act and sectoral data regulations
• Implement clear user consent and data management protocols

Third-Party Due Diligence

• Continuous oversight of business partners
• Mandatory systems for reporting:
  • Security breaches
  • System failures
  • Data leaks

Grievance Redressal

• Maintain accessible complaint channels for:
  • Customers
  • Employees

BS

2. Trai Meets RBI, Sebi, MHA, Meity, other Regulators on Curbing Spam, Fraud

Context:

In a significant move to combat spam, fraud, and misuse of telecom infrastructure, India’s telecom regulator TRAI convened a high-level multi-regulator meeting on July 22, 2025. The meeting included top officials from RBI, SEBI, DoT, MHA, and MEITY, culminating in the launch of a pilot project on digital consent acquisition.

Key Highlights

Cross-Sectoral Regulatory Collaboration

• Hosted by Telecom Regulatory Authority of India (TRAI).
• Objective: Build coordinated strategies to protect consumers in a digital-first economy.

Launch of Digital Consent Acquisition Pilot

• Aims to replace unverifiable offline consent with a tamper-proof digital system for calls and SMS.
• Features of the mechanism:
  • Digital registration, review, and revocation of user consents.
  • A unified interface accessible to all telecom users.
• Four dedicated working groups to oversee:
  • Technical
  • Operational
  • Legal
  • Consumer awareness aspects

Transition to 1600-Series for Commercial Calls

• The committee agreed on the phased implementation of the 1600-series for Banking, Financial Services, and Insurance (BFSI) commercial calls.
• Purpose: Differentiate legitimate commercial calls from spam and fraud.
• Implementation pace to depend on scale of operations of respective institutions.

Enhanced Cybersecurity and Data Exchange

• Discussion on a new enforcement tool for real-time sharing of cyber fraud and spam data.
• Data exchange to occur between:
  • Indian Cyber Crime Coordination Centre (I4C) of MHA
  • Digital Intelligence Platform (DIP) of DoT
• Objective: Automated, secure, and timely detection of cyber threats.

BS

3. Equity Mutual Funds May Soon Be Allowed to Invest in Gold and Silver: SEBI Proposal

Context:

In a potential shift in mutual fund regulations, the Securities and Exchange Board of India (SEBI) may soon allow equity mutual fund schemes to invest in gold and silver, as part of its proposed new scheme categorisation framework.

Key Highlights:

Proposed Change in Investment Norms

• Current Regulation: Equity MFs are required to invest 65–80% of their corpus in equities.
• Proposed Flexibility: Under the new SEBI framework, optional allocation to precious metals such as gold and silver may be permitted for fund managers.

Optional Exposure

• The exposure to gold and silver will not be mandatory; it will be discretionary, allowing fund managers to decide based on their strategy and market outlook.
• This opens new diversification avenues within equity-oriented schemes.

Implications for Fund Houses and Investors

• Fund Managers: Gain greater flexibility to hedge equity risk or enhance returns via allocation to precious metals.
• Investors: May benefit from diversified exposure within a single fund that includes both equity and precious metals.
• Could enhance the appeal of equity MFs amid market volatility or inflationary pressures.

Background

• The move is part of SEBI’s broader effort to revamp mutual fund scheme categorisation, ensuring flexibility while maintaining investor protection and clarity.
• If approved, the changes would require revisions in scheme information documents (SIDs) and investment mandates.

BS

4. Financial Inclusion Index (FI-Index): RBI

Context:

The Reserve Bank of India (RBI) announced on July 22, 2025, that the Financial Inclusion Index (FI-Index) rose to 67 in the financial year ending March 2025 (FY25), up from 64.2 in FY24 and 60.1 in FY23. The index reflects a steady improvement in access, usage, and quality of formal financial services across India.

What is the Financial Inclusion Index (FI-Index)?

• Introduced: August 2021, with retrospective data for FY21.
• Range: 0 to 100, where:
  • 0 = complete financial exclusion
  • 100 = full financial inclusion
• Developed by: RBI in consultation with the government and regulators across banking, insurance, pensions, investments, and postal sectors.
• Three Dimensions:
  • Access – 35% weight
  • Usage – 45% weight
  • Quality – 20% weight

Year	FI-Index Value
FY23	60.1
FY24	64.2
FY25	67.0

• Improvements driven by:
  • Increased usage of financial services
  • Higher quality of access and delivery
  • Continued financial literacy initiatives

Key Drivers of Growth

• Jan Dhan Yojana Impact:
  • Total Accounts Opened: 558.3 million
    • Rural/Semi-urban: 372.6 million
    • Metro: 185.7 million
    • Women account holders: 311.3 million
• Digital Financial Ecosystem: Unified Payments Interface (UPI), mobile banking, and Aadhaar-enabled services are contributing to deeper penetration and trust.

BS

5. CoinDCX Launches Bounty Programme to Recover Stolen Crypto Assets

Context:

On July 19, 2025, CoinDCX, one of India’s largest cryptocurrency exchanges, suffered a crypto asset theft worth $44 million from its treasury. The loss was absorbed from internal reserves; customer wallets remained unaffected.

Bounty Programme Details

• Objective: To recover stolen funds and identify perpetrators.
• Eligibility: Open to:
  • Ethical hackers
  • White-hat researchers
  • Cybersecurity experts
• Incentives:
  • Up to 25% of recovered assets awarded for actionable inputs that help:
    • Trace the stolen crypto
    • Recover assets
    • Identify and convict the culprits

Additional Measures

• Infrastructure Overhaul: CoinDCX is redesigning its cybersecurity and internal infrastructure to prevent future attacks.

About CoinDCX

• Founded: 2018 by Sumit Gupta and Neeraj Khandelwal
• Location: Mumbai; FIU-registered
• User Base: Over 13 million users
• Services: Spot, Futures, and Web3 crypto services
• Quarterly Trading Volume: Exceeds ₹1 lakh crore

Indian Express

6. Amalgamation of Regional Rural Banks (RRBs)

Context:

The Government of India has completed the Phase-IV consolidation of Regional Rural Banks (RRBs) under the principle of One State–One RRB, reducing the number of RRBs from 43 to 28 across 26 States and 2 Union Territories.

Key Highlights:

• Historical Phases of Amalgamation:
  • Phase-I (2005–2010): RRBs reduced from 196 to 82 (same sponsor bank within a state).
  • Phase-II (2012–2014): Reduced to 56 (cross-sponsor amalgamation in contiguous areas).
  • Phase-III (2019–2021): Reduced to 43 by merging weak RRBs with stronger ones.
  • Phase-IV (2025): Further reduced from 43 to 28 RRBs with effect from 01 May 2025.
• Objectives of Consolidation:
  • Achieve economies of scale and cost rationalisation.
  • Improve operational viability, service delivery, and financial stability.
  • Strengthen technology adoption and customer service capacity.
• Implementation & Monitoring:
  • Based on audited financials as of 30 April 2025.
  • Monitoring bodies:
    • State Level Monitoring Committee (SLMC)
    • National Level Project Monitoring Unit (NLPMU)
  • NABARD issued a National SOP and advised the formation of:
    • Amalgamation Project Management Unit (APMU)
    • Steering and Functional Committees for integration.
• Impact:
  • No branch closures; uninterrupted services ensured.
  • Employee salaries, service conditions, and seniority protected.
  • Public awareness campaigns launched across media and SMS.
  • Customer account and data migration done with minimal disruption.
• NABARD Study Findings (2021):
  • Post-amalgamation, share of profitable and viable RRBs increased.
  • Accumulated losses (% of total assets) declined.
  • Capital adequacy and leverage ratios improved.

PIB

Economy

1. Core Inflation Rising

Context:

India’s headline inflation might appear comfortably low, but a deeper concern is brewing beneath the surface — rising core inflation, which excludes food and fuel prices. This trend may have critical implications for the RBI’s monetary policy stance, especially the trajectory of future rate cuts.

Core Inflation

Core inflation is a type of inflation measure which seeks to represent the underlying long-run trend of aggregate price levels in the economy. This is achieved by removing certain items exhibiting short-term significant price fluctuations within the overall consumer basket.

Recent Inflation Trends

• Headline CPI inflation has remained below RBI’s 4% target since February 2025.
• June 2025 CPI: 2.1% (lowest in months).
• In contrast, core inflation rose from 3.6% in January to 4.5% in June.

Why Core Inflation Matters

• Core inflation filters out volatile components (food & fuel), revealing underlying price pressures.
• Historically, headline inflation tends to converge to core inflation, especially after temporary supply shocks fade.
• RBI and economists view it as a forward-looking indicator of long-term inflation trends.

Policy Implications

• If core inflation rises further (e.g., to 6%), it could drive up headline inflation in the future.
• This would restrict the RBI’s ability to cut rates further, threatening the current easing cycle.
• A similar pattern in 2018 led the RBI to tighten rates due to persistent high core inflation driven by housing and transport costs.

Decomposition and International Practices

• Countries like the US, Singapore, and Europe exclude more than just food and fuel in core inflation measures.
• RBI has recently experimented with a core inflation measure excluding petrol, diesel, gold, and silver.
• A Crisil report suggests that excluding gold alone reduces core inflation by 80 basis points.

Mint

Agriculture

1. Price Deficiency Payment Scheme (PDPS)

Context:

On July 22, 2025, the Government of India approved PDPS for 162,500 metric tonnes of Totapuri mangoes from Andhra Pradesh under its Market Intervention Scheme (MIS). The move follows a direct appeal from Chief Minister Chandrababu Naidu to Union Agriculture Minister Shivraj Singh Chouhan, seeking urgent relief due to falling prices.

Key Highlights:

Objective of the Scheme

• Address distress sale of Totapuri mangoes in:
  • Chittoor
  • Tirupati
  • Annamayya districts
• Reason: Bumper harvest has led to sharp price decline in the local mandis.

What is PDPS?

• PDPS (Price Deficiency Payment Scheme) is a form of direct income support.
• Under PDPS, the government pays farmers the difference between the actual market price and a pre-decided floor price (MIP) if market prices fall below the threshold.
• Unlike MSP-based procurement, no physical lifting of produce is involved.

BS

2. Organic Farming Promotion in India

Context:

Organic farming is being promoted through Paramparagat Krishi Vikas Yojana (PKVY) in all the States/UTs except North Eastern States and Mission Organic Value Chain Development for North Eastern Region (MOVCDNER) for the North Eastern States.

Key Schemes:

1. Paramparagat Krishi Vikas Yojana (PKVY)
   • Coverage: All States/UTs (except North Eastern States)
   • Objective: Promote organic farming in clusters, provide end-to-end support (production to marketing)
2. Mission Organic Value Chain Development for North Eastern Region (MOVCDNER)
   • Coverage: North Eastern States
   • Objective: Develop organic value chains, including Farmer Producer Organizations (FPOs), for NE region

Common Features of PKVY & MOVCDNER

• Focus:
  • Cluster-based approach (priority to small/marginal farmers)
  • Promotion of integrated, climate-resilient farming systems
  • Emphasis on natural resource conservation and on-farm nutrient recycling
• End-to-End Support: Production → Processing → Certification → Marketing
• Implementation: Through State/UT Governments

Marketing & Digital Linkages

• State-Supported Activities: Seminars, buyer-seller meets, exhibitions, organic festivals
• Digital Integration:
  • FPOs onboarded on GeM and Open Network for Digital Commerce (ONDC)
  • Enhances e-commerce and national-level market access for organic producers

Crop Insurance

1. Pradhan Mantri Fasal Bima Yojana (PMFBY)

• Type: Yield-index based crop insurance
• Introduced: Kharif 2016
• Eligibility:
  • Crops must have reliable past yield data
  • States must conduct Crop Cutting Experiments (CCEs)
• Voluntary: For both States and farmers

2. Restructured Weather-Based Crop Insurance Scheme (RWBCIS)

• Type: Weather index-based
• Use Case: For crops where yield data or CCE capacity is inadequate
• Claims: Based on weather parameters (e.g., rainfall, temperature deviations)

PIB

3. Use of Artificial Intelligence, IoT, and Drones in Indian Agriculture

Context:

To enhance crop productivity, sustainability, and farmer incomes, the Government of India has deployed Artificial Intelligence (AI), Internet of Things (IoT), and drone-based solutions across multiple schemes and platforms. These initiatives aim to tackle real-time challenges like pest attacks, inefficient farm practices, and the digital gap among smallholder farmers.

Key Digital and AI-Driven Initiatives

Kisan e-Mitra (AI Chatbot for Farmer Queries)

• Description: Voice-based AI-powered chatbot designed to assist farmers with queries related to government schemes, especially PM-KISAN.
• Language Support: 11 regional languages.
• Usage Stats: Handles 20,000+ queries daily; has responded to over 95 lakh farmer queries.
• Future Scope: Being upgraded to provide assistance across other agricultural and welfare schemes.

National Pest Surveillance System (NPSS)

• Objective: To reduce crop losses due to climate-induced pest outbreaks.
• Technology: Uses AI and Machine Learning to detect pest infestations through image recognition.
• Coverage: Supports 61 crops and over 400 pest species.
• Reach: 10,000+ extension workers currently use the system.
• Function: Allows farmers to upload pest images for instant diagnosis and preventive action.

Satellite-Based Crop Mapping

• Application: AI-based analytics using geo-tagged field photos and satellite imagery.
• Purpose: Enables crop-weather monitoring, yield estimation, and real-time decision-making.

Drone-Based Support in Agriculture

Drone Subsidy Under SMAM (Sub-Mission on Agricultural Mechanization)

• Beneficiaries:
  • ICAR/KVKs/SAUs/PSUs: 100% subsidy (up to ₹10 lakh per drone).
  • FPOs: Up to 75% subsidy for demonstration use.
  • CHCs (Cooperative/FPOs/Rural Entrepreneurs):
    • 40% subsidy (max ₹4 lakh).
    • 50% subsidy (max ₹5 lakh) for agriculture graduates.
  • Individual Farmers:
    • SC/ST/Women/NE States/Small & Marginal: 50% subsidy (max ₹5 lakh).
    • Others: 40% subsidy (max ₹4 lakh).

Namo Drone Didi Scheme (2023–26)

• Type: Central Sector Scheme with ₹1,261 crore outlay.
• Aim: To empower Women Self Help Groups (SHGs) as drone service providers, boost mechanized agriculture, and enhance rural livelihoods.
• Targets:
  • Distribution of 15,000 drones to SHGs over three years.
  • 80% government subsidy (max ₹8 lakh); SHGs contribute 20%.
  • SHGs can avail Agri Infra Financing (AIF) with 3% interest subvention on loans.
• Progress:
  • 1,094 drones distributed by fertilizer companies in 2023–24 using internal resources.
  • Of these, 500 drones were allocated directly under the Namo Drone Didi scheme.

PIB

Facts To Remember

1. Humpy and Divya Hold Top Seeds to Draws in FIDE Women’s World Cup

Indian Grandmasters Koneru Humpy and Divya Deshmukh secured solid draws with black pieces in the semifinals against strong Chinese opponents.

2. Chhattisgarh Passes Jan Vishwas (Amendment) Bill

Chhattisgarh became the second state after Madhya Pradesh to enact the Jan Vishwas Bill, aligning with the Centre’s 2023 reform to decriminalise minor offences.

3. UK Introduces World’s First Sanctions on Human Smuggling Gangs

The UK launched a pioneering global sanctions regime targeting criminal networks involved in illegal immigration.

4. MiG-21 Bison Fighter Jets to Retire in September 2025

The Indian Air Force will decommission the MiG-21 Bison after 60+ years of service, with a farewell ceremony in Chandigarh.

5. US Withdraws from UNESCO Over Policy Differences

Citing anti-Israel bias and strategic misalignment, the US announced its second withdrawal from UNESCO.

6. Padma Shri Awardee & theatre legend Ratan Thiyam dies at 77

Globally acclaimed Theatre personality Ratan Thiyam has passed away today after battling illness for a few days.  Born in the Imphal West district of Manipur, Ratan Thiyam was hospitalised at RIMS hospital a few days back. He breathed his last in the early wee hours of today morning.

7. World’s Largest Grain Storage Plan in Cooperative

The government has said that construction of godowns has been completed in 11 Primary Agricultural Credit Societies, PACS in eleven States under World’s Largest Grain Storage Plan in Cooperative Sector which has been rolled out as a Pilot Project.