Daily Current Affairs (DCA) 26 June, 2025

Daily Current Affairs Quiz
26 June, 2025

International Affairs

1. Axiom Mission 4 (Ax-4) Launched

Context:

Marking a major milestone in India’s space ambitions, Group Captain Shubhanshu Shukla became the first Indian to be part of a commercial human spaceflight mission aboard the International Space Station (ISS), launching from NASA’s Kennedy Space Center as part of the Axiom Mission 4 (Ax-4).

About Mission

• Launch Vehicle: SpaceX Falcon 9 Block 5
• Spacecraft: Crew Dragon Grace (C213) — Maiden flight; fifth and final Crew Dragon
• Launch Date: 25 June 2025, after earlier delays due to a liquid oxygen leak and unrelated issues aboard ISS.
• Launch Site: Kennedy Space Center, Launch Complex 39A

Crew Composition (Prime Crew)

Position	Astronaut	Affiliation	Nationality	Flight Number
Commander	Peggy Whitson	Axiom Space (former NASA astronaut)	United States	Fifth flight
Pilot	Shubhanshu Shukla	Indian Space Research Organisation (ISRO)	India	First flight
Mission Specialist 1	Sławosz Uznański-Wiśniewski	ESA / POLSA	Poland	First flight
Mission Specialist 2	Tibor Kapu	Hungarian Space Office (HSO)	Hungary	First flight

Notable Firsts and Historical Significance

• First Indian astronaut (Shubhanshu Shukla) on a mission to the ISS.
• First government-sponsored spaceflights in over 40 years for India, Poland, and Hungary.
• Only second-ever human spaceflight for each of these nations after the Soviet-era Interkosmos missions.
• Marks the first time astronauts from these nations visit the ISS; previous flights docked at Salyut 6 or 7.

Mission Objectives

• Strengthen international collaboration in space exploration.
• Conduct science and outreach experiments aboard the ISS.
• Validate Crew Dragon Grace’s systems in orbital conditions.
• Encourage public-private partnerships in human spaceflight.

TH

National Affairs

1. Space Docking

Context:

Space docking is the process of joining two spacecraft in orbit, enabling them to form a unified, larger structure. It is a critical technique for modern space missions, particularly for space station assembly, crew and cargo transfers, and satellite servicing.

Phases of Docking Operation

1. Rendezvous:
   • Involves aligning the orbits of two spacecraft.
   • Requires thruster burns and trajectory correction to bring them into proximity.
2. Proximity Operations:
   • Spacecraft use GPS, radar, laser sensors, and visual cameras.
   • They slow down and approach gradually, often stopping at predefined waypoints (e.g., 400m, 200m, 20m from the target).
3. Capture and Latching:
   • Docking mechanisms engage, guided by magnets or robotic arms.
   • Once soft capture is achieved, mechanical latches lock the spacecraft together for hard docking.

Importance of Docking in Space Missions

• Space Station Assembly:
  • The International Space Station (ISS) is a prime example, assembled module by module via docking.
• Crew and Cargo Transfers:
  • Enables safe movement of astronauts and resupply missions between modules or vehicles.
• Satellite Servicing:
  • Permits in-orbit repair, refueling, and system upgrades, extending satellite lifespans.
• Deep Space Missions:
  • Essential for lunar gateway, Mars missions, and orbital refueling stations.

Types and Technologies in Docking

• Manual vs. Autonomous:
  • Manual docking is performed by astronauts (e.g., Soyuz).
  • Autonomous systems (e.g., SpaceX Dragon, NASA’s Orion) use AI-guided navigation and onboard software.
• Androgynous vs. Non-Androgynous Systems:
  • Androgynous: Either spacecraft can act as active/passive (e.g., NASA-ESA docking systems).
  • Non-Androgynous: Fixed roles; one docks, the other receives.
• Precision and Safety:
  • Docking occurs at relative speeds of centimeters per second.
  • Redundant systems and multiple sensors reduce collision risk.

2. Kailash Mansarovar Yatra Resumes

Context:

After a six-year suspension due to the COVID-19 pandemic and India-China border tensions, the Kailash Mansarovar Yatra — a sacred pilgrimage for Hindus — has resumed, marking a significant step in reviving bilateral people-to-people mechanisms. The pilgrimage is being facilitated through the Nathu La pass in Sikkim and Lipulekh Pass in Uttarakhand, with renewed cooperation between both governments.

Significance of the Yatra

• Mount Kailash (18,000 ft) and Mansarovar Lake are among the holiest sites in Hinduism, also revered in Jainism, Buddhism, and Bon traditions.
• This is the first major bilateral cultural exchange initiative to be revived post the Galwan Valley clashes and LAC standoff.
• Lake Mansarovar:
  • Located near Mount Kailash, Lake Mansarovar is a freshwater lake considered holy, with its waters believed to purify the soul. 

TH

3. Emergency in India

Context:

June 25, 2025, marked the 50th anniversary of the Emergency declared by then Prime Minister Indira Gandhi in 1975 — a controversial 21-month period during which civil liberties were curtailed, opposition leaders jailed, and press freedom suspended. On this day, the Union Government led by Prime Minister Narendra Modi observed what it termed “Samvidhan Hatya Divas” (Constitution Murder Day).

Emergency Provisions in the Indian Constitution

The Indian Constitution provides for extraordinary powers during crises to protect national security, constitutional governance, and financial stability.

Constitutional Framework:

• Articles Involved: Articles 352 to 360 under Part XVIII.
• Purpose: Ensure the sovereignty, unity, integrity, and security of India; safeguard the democratic order and financial stability.

Types of Emergencies

National Emergency (Articles 352–354, 358–359)

• Grounds: War, external aggression, or armed rebellion (formerly internal disturbance).
• Declared by: The President under Article 352.
• Approval: Must be ratified by both Houses of Parliament within 1 month.
• Duration: Initially 6 months, can be extended every 6 months indefinitely with special majority approval.
• Revocation: Can be done by the President or by a simple majority resolution in Lok Sabha.

Effects:

• Centre-State Relations:
  • Executive: Centre can give directions to states.
  • Legislative: Parliament can legislate on state subjects.
  • Financial: President may alter fund distribution to states.
• Life of Legislatures:
  • Lok Sabha/State Assemblies can be extended 1 year at a time, up to 6 months post-emergency.
• Fundamental Rights:
  • Article 19 rights suspended (Art. 358).
  • Other rights suspended in enforcement only (Art. 359).

President’s Rule / State Emergency (Articles 355–357)

• Grounds:
  • Failure of constitutional machinery (Art. 356).
  • State non-compliance with Union directives (Art. 365).
• Approval: Within 2 months by both Houses; simple majority.
• Consequences:
  • Governor administers the state on behalf of the President.
  • State legislature’s powers are exercised by Parliament.

Financial Emergency (Article 360)

• Grounds: Threat to India’s financial stability or credit.
• Declared by: President.
• Approval: Parliament must approve within 2 months.
• Duration: Indefinite until revoked; no repeated approval required.
• Consequences:
  • Centre gains control over state finances.
  • Can direct reduction in salaries of government and judicial officers.
  • Money bills require Presidential assent, even post-state legislature passage.

Banking/Finance

1. GST Council Likely to Discuss 12% Slab

Context:

The Goods and Services Tax (GST) Council is expected to convene in July 2025 after a gap of over six months, with major reforms on its agenda, according to official sources. The Council, chaired by the Union Finance Minister and comprising state finance ministers, plays a key role in shaping India’s indirect tax policy.

Key Highlights

• 12% GST Slab Under Review:
  • The Council will deliberate on reducing or eliminating the 12% tax slab to simplify the existing four-tier GST structure (5%, 12%, 18%, and 28%).
    • Internal recommendations suggest subsuming the 12% slab into either the 5% or 18% category.
    • The move aligns with long-standing goals of rate rationalisation and simplification.
• Relief for Service Intermediaries:
  • Final clarity is expected on the tax treatment of service intermediaries, which has long been a source of compliance disputes and litigation.
    • Resolution could bring relief to sectors such as outsourcing, fintech, and consulting, with potential benefits running into thousands of crores.
    • This may include redefining place-of-supply rules or clarifying tax applicability on exports of intermediary services.

Implications

• Simplification of GST slabs would reduce classification disputes and improve ease of doing business.
• Clarifying tax on intermediaries will help exporters and global service providers, enhancing India’s competitiveness.

TH

2. India’s Economy Shows Resilience Amid Global Uncertainty: RBI’s June 2025 Bulletin

Context:

In its latest State of the Economy report published in the June 2025 RBI Bulletin, the Reserve Bank of India (RBI) has highlighted continued domestic economic resilience despite global uncertainty, softening credit growth, and evolving financial conditions. The report was authored by RBI staff under the guidance of Deputy Governor Poonam Gupta.

Key Highlights

Growth and Resilience

• India’s economy remains robust amid global instability, supported by strong financial conditions and monetary easing.
• GDP growth for FY25 was reaffirmed at 6.5%, with Q4FY25 showing notable momentum.
• Consumer confidence and rural demand indicators continue to reflect stability.

Monetary Policy Transmission

• Policy repo rate has been cut by 100 bps between February and June 2025, currently standing at 5.5%.
• A 100 bps phased reduction in Cash Reserve Ratio (CRR) starting 6 September 2025 is expected to release ₹2.5 trillion in primary liquidity.
• This aims to lower funding costs for banks and enhance credit flow to productive sectors.

Lending and Deposit Rates

• Post-rate cuts:
• Lending rates:
  • Fresh rupee loans: ↓ 6 bps
  • Outstanding loans: ↓ 17 bps
• Term deposit rates:
  • Fresh deposits: ↓ 27 bps
  • Outstanding deposits: ↓ 1 bp
• Indicates gradual but positive monetary transmission.

Credit Growth Trends

• Scheduled commercial banks’ credit growth slowed to 9.9% (as of May 30, 2025), down from 16.2% a year earlier.
• Sectors most affected:
• Agriculture and services witnessed the sharpest deceleration.
• External Commercial Borrowings (ECBs) remained healthy despite a slight dip since March 2025.

Global Headwinds

• The global economy is being affected by:
• Trade policy uncertainties
• Escalating geopolitical tensions
• These factors will shape India’s medium-term growth outlook, especially post-July 2025 when the temporary tariff truce ends.

Additional Developments

• RBI to extend overnight money market trading hours from July 1, 2025, to enhance liquidity management.
• Net FDI inflows rose to $3.9 billion in April 2025, indicating sustained investor confidence.

Implications

• Monetary easing combined with targeted liquidity infusion is expected to support credit growth recovery in H2FY25.
• Policymakers and markets should stay alert to external risks, especially trade disruptions and geopolitical escalations.
• RBI’s proactive stance and liquidity operations may anchor inflation expectations while nurturing growth.

TH & BS

3. NSE Offers ₹13,880 Crore Settlement to SEBI

Context:

The National Stock Exchange (NSE), India’s largest stock exchange, has proposed to pay ₹13.88 billion (₹1,388 crore or $160 million) to the Securities and Exchange Board of India (SEBI) to settle a long-running legal dispute. This is expected to be the largest-ever settlement with SEBI, aimed at clearing the regulatory overhang delaying NSE’s long-pending Initial Public Offering (IPO).

Background of the Case

• The legal dispute dates back to 2019, when SEBI imposed a fine of ₹1,100 crore (₹11 billion) on NSE.
• The penalty stemmed from the co-location scandal, where preferential access to trading data and systems was allegedly provided to select high-frequency trading firms, compromising market fairness and transparency.

Proposed Settlement

• NSE has offered ₹1,388 crore as a settlement amount under SEBI’s consent mechanism — a route that allows entities to settle regulatory disputes without admitting or denying guilt.
• If approved, this would remove a major obstacle for NSE to launch its much-awaited IPO, which has been pending for over six years.

Significance

• The proposed settlement, if accepted, would be the biggest in SEBI’s history in terms of monetary value.
• It underscores the importance of regulatory clarity and dispute resolution in India’s capital markets ecosystem.
• Could set a precedent for timely settlement in other high-profile regulatory cases.

Implications

• For NSE:
  • Clears a critical compliance hurdle before launching its IPO.
  • Restores investor confidence and improves governance image.
• For SEBI:
  • Demonstrates use of regulatory flexibility under the consent framework.
  • Reinforces SEBI’s role in upholding market integrity while enabling resolution.
• For Investors:
  • A potential NSE listing would give investors an opportunity to invest in India’s most dominant stock exchange.
  • Could enhance transparency and public accountability of the bourse.

BS

4. NSE to Launch ‘Electricity Futures’ to Manage Power Price Volatility

Context:

The National Stock Exchange (NSE) is set to introduce a new financial instrument called “Electricity Futures”, marking a significant step in developing India’s energy derivatives market. This product aims to help market participants hedge against electricity price volatility, offering more predictability in a traditionally unstable short-term electricity market.

What Are Electricity Futures?

• Electricity Futures are financial contracts that allow buyers and sellers to lock in electricity prices for a future date without actual physical delivery of power.
• These contracts are designed to manage price risk in the electricity market.

India’s energy derivatives market

India’s energy derivatives market involves trading financial contracts (like futures and options) whose value is derived from energy commodities such as electricity, crude oil, or natural gas. These derivatives allow participants to manage price risks associated with energy markets or speculate on price movements.

Who Will Benefit?

• Power generators
• Distribution Companies (DISCOMs)
• Traders and retailers
• Large industries and commercial users

By locking future electricity rates, participants can protect themselves from price spikes caused by demand-supply imbalances, seasonal variation, or fuel cost volatility.

Features of the New Product

• No physical delivery: Purely cash-settled contracts based on electricity market benchmarks.
• Monthly futures contract: Provides a tool for price discovery and risk management in the short-term electricity trading market.
• Aimed at unbundling the currently bundled supply and distribution market, promoting market efficiency.

TH

5. IRDAI Imposes ₹1 Crore Penalty on Edelweiss Life Insurance for Corporate Governance Violations

Context:

The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a ₹1 crore penalty on Edelweiss Life Insurance Company for violations related to outsourcing norms and customer onboarding practices, flagging serious lapses in corporate governance and regulatory compliance.

Outsourcing Violations

• IRDAI found that Edelweiss Life failed to manage conflicts of interest while outsourcing key functions.
• Insurers are mandated to:
• Conduct due diligence of service providers.
• Ensure compliance with regulatory obligations.
• Establish systems, policies, and procedures to avoid conflicts of interest.

Failure in Capturing Bank Details

• Edelweiss Life did not collect bank account details at the proposal stage for policyholders paying premiums above ₹10,000.
• The company argued that capturing such details was not required — a contention rejected by IRDAI.
• Directive issued: All proposer/insured bank details must be collected during proposal itself.

TH

6. Govt Plans Partial Stake Dilution in General Insurers to Meet SEBI’s Norms

Context:

The Union Finance Ministry is set to initiate phased stake sales in public sector general insurers — New India Assurance Company and General Insurance Corporation (GIC Re) — to comply with SEBI’s Minimum Public Shareholding (MPS) requirement of 25% for all listed companies, including public sector units.

Regulatory Mandate

• As per SEBI’s Rule 19A of the Securities Contracts (Regulation) Rules, 1957, and Regulation 38 of the SEBI Listing Regulations:
  • All listed companies must maintain at least 25% public shareholding.

Disinvestment vs Privatization

The Government of India continues to pursue disinvestment and privatization as part of its economic reform agenda. While often used interchangeably, both terms have distinct meanings and implications.

1. Disinvestment

Disinvestment refers to the sale or liquidation of government-owned shares in Public Sector Undertakings (PSUs) or other government-owned assets.

Purpose:

• Raise revenue for the government
• Reduce fiscal burden and debt
• Improve operational efficiency
• Promote wider share ownership

Types:

• Minority Disinvestment: Government retains majority stake and control
• Majority Disinvestment: Government loses majority stake but may retain some control
• Strategic Disinvestment: Transfer of both majority ownership and management control to a private entity (often overlaps with privatization)

Example:

• Government selling a 10% stake in Coal India through public offer
• Strategic sale of Air India to Tata Group (also considered privatization)

2. Privatization

Privatization is the process of transferring ownership and management of a public sector entity to the private sector.

Purpose:

• Improve efficiency through private management
• Promote competition
• Reduce political interference in commercial operations
• Focus government on core welfare functions

Modes:

• Full sale to private entity
• Public-private partnerships (PPPs)
• Strategic sale with management control transfer

Example:

• Full ownership transfer of Air India to Tata Group
• Conversion of public hospitals or transport services to private management

7. Jan Dhan 2.0

Context:

A decade after the launch of the Pradhan Mantri Jan Dhan Yojana (PMJDY) in 2014 to promote financial inclusion, the Union Finance Ministry is now exploring Phase 2 reforms aimed at deepening banking access and enhancing account activity, especially for the 110 million inoperative accounts.

Key Upgrades Under Consideration

Cheque Book Facility

• Jan Dhan account holders may soon receive chequebooks, expanding their transactional capabilities and financial credibility.

Enhanced Overdraft Limit

• The existing ₹10,000 overdraft limit may be increased, subject to eligibility.
• Aims to improve access to emergency funds and support consumption in rural/low-income households.

Low-Value Credit Cards (Proposed)

• The government is considering low-limit credit cards for eligible Jan Dhan account holders to:
  • Promote digital credit access.
  • Encourage credit discipline among first-time borrowers.
  • Partner with banks and microfinance institutions for roll-out.

Problem of Inoperative Accounts

Alarming Inactivity

• Over 20% of Jan Dhan accounts (≈110 million) were classified as inoperative by December 2024, despite verification drives.

Reasons for Dormancy

• Immediate cash withdrawals post-benefit transfer.
• Lack of awareness about account benefits (e.g., insurance cover, overdraft).
• Perceived irrelevance after one-time transactions.

BS

8. Public Sector Banks Dominate Certificate of Deposit Market

Context:

A recent RBI Bulletin highlights a significant realignment in India’s Certificate of Deposit (CD) market. Between 2022 and December 2024, the share of public sector banks (PSBs) in CD issuances surged from 6% to 69%, while private sector banks (PVBs) saw a decline from 85% to 30%.

Key Drivers of CD Issuance Surge

• Tight Liquidity and Strong Credit Growth:
  • The banking sector saw credit growth outpacing deposit mobilisation, forcing banks to raise short-term funds via CDs.
  • Liquidity deficit and year-end funding pressures led to a record ₹3.70 trillion in CD issuances in Q4FY25.
• Mutual Funds as Dominant Buyers:
  • Mutual funds, buoyed by retail participation in equity markets, have remained the primary investors in CDs, facilitating larger allocation toward money market instruments.
• Rising Overall Market Volume:
  • Outstanding CD issuances hit a record ₹11.75 trillion in FY25, reflecting continued demand.
  • Issuance volumes climbed steadily since April 2022, peaking in March 2025 at ₹1.17 trillion, amid fiscal year-end liquidity pressures.

What is a Certificate of Deposit?

A Certificate of Deposit (CD) is a time deposit offered by banks and credit unions. Unlike regular savings accounts, CDs require the depositor to keep their money in the account for a fixed period in exchange for a higher interest rate. The term of a CD can range from a few months to several years, and the interest rate is usually higher than that of a standard savings account.

Who Issues CDs?

CDs are issued by:

• Banks (both commercial and online banks)
• Credit unions
• Brokerage firms (offering brokered CDs from partner banks)

These financial institutions use CDs to attract deposits, which they can then use for lending and other investment activities.

Read more>>

9. Call Money Market

Context:

In a move aimed at aligning Indian financial markets with global standards and enhancing liquidity management, the Reserve Bank of India (RBI) has announced extended trading hours for key segments of the money market.

Key Changes

• Effective from July 1, 2025:
  • Call Money Market trading hours will be extended until 7:00 PM (previously closed at 5:00 PM).
• Effective from August 1, 2025:
  • Market Repo and Tri-Party Repo (TREP) markets will also see a revision in closing time to 4:00 PM.

Call Money Market

In finance, call money refers to short-term funds lent by banks or financial institutions that are repayable on demand, with a maturity ranging from overnight to 14 days. It is a core component of the Indian inter-bank money market.

Key Features

• Tenure:
  • Call money: Loans for 1 day (overnight)
  • Notice money: Loans for more than 1 day up to 14 days
• Purpose:
  Primarily used by banks and financial institutions to:
  • Meet short-term liquidity requirements
  • Maintain the Cash Reserve Ratio (CRR) with the RBI
  • Manage short-term mismatches in cash flows
• Participants:
  • Commercial banks (excluding RRBs and cooperative banks)
  • Primary dealers
  • RBI (as lender of last resort)
  • Mutual funds and insurance companies (only as lenders)
• Interest Rate:
  The rate at which these funds are borrowed/lent is known as the call rate.
  • Highly volatile
  • Changes daily or intra-day
  • Sensitive to liquidity conditions in the banking system

Economic Importance

• Monetary Policy Transmission:
  • RBI monitors call money rates as part of its liquidity and interest rate management.
• Liquidity Indicator:
  • A high call rate signals tight liquidity, while a low call rate indicates surplus liquidity in the banking system.
• Alternative Instruments:
  • When call rates are high, banks prefer to raise funds through commercial paper (CP) or certificates of deposit (CD) due to lower cost.

RBI Extends Call Money Market Trading Hours:

• Effective July 1, 2025, trading hours for the call money market have been extended till 7 PM.
• Aim: To ease end-of-day liquidity pressures and align with global best practices.
• Earlier closing time: 5 PM
• Part of RBI’s broader strategy to deepen money markets and promote efficient liquidity management.

TOI

10. RazorpayX Launches Corporate Cards for Startups Amid IPO Readiness

Context:

In a move to address the credit access gap faced by Indian startups, RazorpayX, the business banking arm of Razorpay, has unveiled RazorpayX Corporate Cards in collaboration with Mastercard, RBL Bank, and YES Bank.

Product Features

• Credit Limit: Up to ₹2 crore without requiring collateral.
• No Personal Liability: Business expenses no longer impact founders’ personal credit scores.
• FX Charges: Competitive foreign exchange mark-up fee of just 2.5%.
• Targeted specifically at startups, which often struggle with formal credit access.

BL

Agriculture

1. Farmers Demand DBT for Schemes and AI-Based Price Forecasting Tools

Context:

A 15-day mass outreach programme under the Viksit Krishi Sankalp Abhiyan concluded with a report presented to Agriculture Minister Shivraj Singh Chouhan and senior officials. The initiative aimed to capture farmer concerns, improve productivity, and raise incomes.

Key Demands and Policy Recommendations

Direct Benefit Transfer (DBT)

• Farmers called for universal DBT coverage for all Central and State-sponsored schemes.
• Emphasis was placed on reducing middlemen, ensuring timely disbursals, and improving transparency.

AI-Based Price Forecasting Tools

• Farmers sought AI-powered tools to forecast prices of horticulture crops and basmati rice.
• Such tools are expected to improve market awareness and reduce post-harvest losses.

Identified Gaps and Action Areas

Actionable Policy Issues

• Expansion of crop residue management, especially to curb stubble burning.
• Quicker dissemination of subsidised super seeder machines.
• Need for village-level advisory mechanisms on planting and pest control.

Research and Extension Gaps

• Greater involvement of the Indian Council of Agricultural Research (ICAR) in addressing localised crop and soil issues.
• Tailored skill development programmes to address knowledge gaps in modern farming techniques.

Planned Interventions

Short-Term (Next 6 Months)

• Village-wise soil and water testing camps to guide optimal fertilizer use.
• Expansion of the Viksit Krishi Sankalp Abhiyan campaign to twice a year.
• Promotion of in-situ crop residue management and sustainable agriculture.

Medium-Term

• Establishment of Village-Level Plant Clinics and Seasonal Advisory Centres to provide expert guidance on crop diseases and weather-based advisory.
• Integration of plant clinics with the existing agri-extension framework.

BS

2. India to Host International Potato Centre’s South Asia Regional Centre in Agra

Context:

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved a proposal from the Department of Agriculture & Farmers Welfare to establish International Potato Centre (CIP)’s South Asia Regional Centre (CSARC) at Agra, Uttar Pradesh.

Key Highlights

• What’s approved?
  • Establishment of the South Asia Regional Centre (CSARC) of the International Potato Centre (CIP) in Singna, Agra, Uttar Pradesh.
• Institutional Background:
  • CIP is a global agricultural research organization headquartered in Lima, Peru.
  • It is part of the CGIAR (Consultative Group on International Agricultural Research) system.
• Objective:
  • Boost food and nutrition security
  • Enhance farmers’ income
  • Promote job creation across the potato and sweetpotato value chain
• Sectoral Impact:
  • High-yielding, climate-resilient potato and sweetpotato varieties to be developed
  • Focus on post-harvest management, processing, value addition, and export potential
  • Technology and innovation to benefit India and other South Asian countries

PIB

3. Centre Approves Procurement of Moong and Urad under Price Support Scheme

Context:

Union Minister for Agriculture & Farmers’ Welfare and Rural Development Shri Shivraj Singh Chouhan, held a meeting in New Delhi and approved the procurement of Moong and Urad in Madhya Pradesh, and Urad in Uttar Pradesh under the Price Support Scheme (PSS).

Key Approvals & States Involved

• Madhya Pradesh (MP):
  • Approval for procurement of Moong and Urad (summer pulses) under PSS.
  • Proposal was submitted by the state government and approved post-ministerial review.
• Uttar Pradesh (UP):
  • Approval granted for procurement of Urad under PSS.
• Objective:
  • To ensure MSP-based procurement benefits reach farmers directly by eliminating middlemen.
• Procurement Agencies Involved:
  • NAFED (National Agricultural Cooperative Marketing Federation of India)
  • NCCF (National Cooperative Consumers’ Federation of India)
  • State agriculture departments

4. Centre Announces MSP for Mangoes under Market Intervention Scheme (MIS)

Context:

The Union government on Tuesday announced a minimum support price (MSP) for mangoes, bringing relief to thousands of farmers in Karnataka, who had been affected by crop loss and drastic fall in prices this year.

Key Highlights

• Minimum Support Price (MSP):
  • ₹1,616 per quintal for mangoes.
• Procurement Target:
  • 2.5 lakh metric tonnes to be procured by the Karnataka government with Centre’s approval under the Market Intervention Scheme (MIS).
• Reason for Intervention:
  • Severe crop losses and drastic price crash faced by mango farmers.
  • Escalating protests, including highway blockade and fruit dumping on the Bengaluru-Chennai Highway near Kondarajanahalli.
  • Successful bandh organized in Srinivasapura, the main mango cultivation hub in Karnataka.

What is the Market Intervention Scheme (MIS)?

• MIS is a price support mechanism implemented for horticultural and perishable commodities not covered under the MSP regime.
• Aims to protect farmers from distress sales by offering government-backed procurement during price crashes.
• It is implemented on the request of state governments, with the Centre sharing losses.

The New Indian Express

Facts To Remember

1. Tussle in Chhattisgarh Over Community Forest Resource Management Plans Highlights Institutional Conflict

A dispute has emerged in Chhattisgarh between the State’s Forest Department and Tribal Welfare authorities over the preparation and implementation of Community Forest Resource (CFR) management plans, a crucial mechanism under the Forest Rights Act (FRA), 2006. The issue centers around control over forest governance and the role of NGOs in assisting tribal communities.

2. Khelo India University Games in Jaipur in November

The fifth Khelo India University Games will be hosted jointly by Poornima University and Rajasthan University in Jaipur in November. 

3. Indian wrestlers win four gold at Asian under-17 wrestling

Indian wrestlers won four gold medals at the Asian under-17 wrestling championships in Vung Tau, Vietnam, on Wednesday. Rachana (43kg), Moni (57kg), Ashvini Vishnoi (65kg) in women’s section and Gourav Punia (65kg) in men’s freestyle claimed the top honours. 

4. Union Bank of India plans to raise ₹ 6,000 cr through equity, debt

Union Bank of India on Wednesday said the bank was planning to garner ₹ 6,000 crore through a mix of equity and debt to fund its business growth. The decision in this regard was taken in the board meeting held on Wednesday,, Union Bank of India said in a regulatoryy filing.

5. Sebi fines BSE ₹25L over early access to info

Markets regulator Sebi has fined BSE Rs 25 lakh for several erroneous business practices including sharing company announcements with its paid clients ahead of the same being published on its website.

6. Sebi asks bourses to monitor traders

India’s market regulator has directed stock exchanges to monitor whether trading members have implemented “corrective actions”, after regulatory inspections found violations, according to a circular issued by BSE.