Daily Current Affairs Quiz
28 August, 2025
National Affairs
1. NHAI Launches ‘Project Aarohan’
Source: PIB
Context:
The National Highways Authority of India (NHAI), in collaboration with Vertis Infrastructure Trust, has launched ‘Project Aarohan’ to promote educational opportunities for children of toll plaza employees. The initiative was inaugurated by NHAI Chairman Shri Santosh Kumar Yadav at NHAI Headquarters, New Delhi.
Objective:
- To remove financial barriers to education.
- To bridge socio-economic divides by supporting students from economically weaker sections (EWS), especially girls, first-generation learners, and students from SC, ST, OBC, and minority communities.
- To ensure equal access to quality education and prepare students for higher education, employment, and entrepreneurship.
Key Features of Project Aarohan:
- Implementing Agency: SMEC Trust’s Bharat Cares.
- Coverage (Phase 1): 500 students (Class 11 to final year of graduation).
- Scholarship Support:
- ₹12,000 annually (FY 2025–26) per selected student.
- ₹50,000 each for 50 meritorious students pursuing postgraduate or higher studies.
- Fund Allocation: ₹1 crore (July 2025 – March 2026).
- Beyond Financial Aid: Mentorship, career guidance, skill-building workshops, progress tracking, and renewal mechanisms.
- Application Process: Online portal with mandatory submission of academic records, income proof, caste certificate, and ID proof.
- Beneficiaries: Children of toll plaza employees across India’s national highway network.
2. Two Indian Startups Launch Satellites on SpaceX’s Falcon 9 Rocket
Source: TOI
Context:
Two Indian space-tech startups successfully launched their satellites onboard SpaceX’s Falcon 9 rocket, marking another milestone for India’s growing private space industry.
Key Highlights:
- Startups Involved: Dhruva Space (Hyderabad) and Skyroot Aerospace (Hyderabad).
- Mission: The satellites were launched as part of SpaceX’s Transporter-12 mission from Cape Canaveral, Florida.
- Dhruva Space Contribution: Deployed its satellite platform for technology demonstration in low-Earth orbit (LEO).
- Skyroot Aerospace Contribution: Tested advanced payload components aimed at future launch vehicle development.
- Significance:
- Boosts India’s private space ecosystem.
- Enhances global visibility of Indian space startups in satellite technology and launch solutions.
- Supports India’s ambitions in commercial space exploration and satellite-based services.
About Falcon 9 Rocket:
- Developed by SpaceX (USA).
- Partially reusable, two-stage orbital launch vehicle.
- First launch: June 4, 2010.
- First commercial resupply mission to ISS: October 8, 2012.
- First commercial crewed mission to orbit: 2020.
- Holds record as the most-launched American orbital rocket in history.
3. Centre Extends PM SVANidhi Scheme
Source: BS
Context:
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the extension and revamp of the Prime Minister Street Vendors AtmaNirbhar Nidhi (PM SVANidhi) scheme till March 31, 2030, with an outlay of ₹7,332 crore.
Key Features of the Revamped Scheme:
- Enhanced Loan Limits:
- 1st tranche increased from ₹10,000 to ₹15,000
- 2nd tranche increased from ₹20,000 to ₹25,000
- 3rd tranche remains ₹50,000
- Digital Integration:
- UPI-linked RuPay Credit Cards for beneficiaries after successful repayment of the second loan.
- Cashback incentives of up to ₹1,600 on retail and wholesale digital transactions.
- Expanded Coverage:
- Now includes census towns and peri-urban areas, beyond statutory towns.
- Capacity Building & Support:
- Focus on entrepreneurship, financial literacy, digital skills, and marketing.
- Street food vendors to receive FSSAI-certified hygiene and food safety training.
- SVANidhi se Samriddhi component to be strengthened with monthly Lok Kalyan Melas for saturation of other government welfare schemes.
PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) Scheme
- Launched on June 1, 2020 by the Ministry of Housing and Urban Affairs (MoHUA).
- Part of the Atmanirbhar Bharat Abhiyan.
- Introduced to support street vendors affected by COVID-19, enabling them to restart and sustain their businesses.
About the Scheme:
- A micro-credit facility designed to provide affordable working capital to street vendors.
- Provides collateral-free loans in multiple phases:
- 1st loan: up to ₹10,000.
- 2nd loan: up to ₹20,000.
- 3rd loan: up to ₹50,000.
- Includes incentives for digital transactions and timely repayment.
- Promotes formalization of street vendors into the banking and digital ecosystem.
4. India to Begin Testing Indigenous ‘Iron Dome’ Under Project Kusha
Source: TOI
Context:
India will commence testing of new interceptor missiles in 2026 as part of Project Kusha, a key element of Mission Sudarshan Chakra (MSC) announced by Prime Minister Narendra Modi. The mission aims to provide a multi-layered air and missile defence shield for critical military and civilian assets by 2035.
Key Highlights:
- Interceptor Missiles Timeline:
- M1 Missile (150 km range) – Testing to begin in 2026.
- M2 Missile (250 km range) – Testing planned for 2027.
- M3 Missile (350 km range) – Testing scheduled for 2028.
- Objective:
- Complete development by 2028 and induct the system by 2030.
- Capabilities:
- Capable of intercepting aircraft, stealth fighters, cruise missiles, drones, and precision-guided munitions.
- Fully automated Long-Range Surface-to-Air Missile (LRSAM) system.
- Comparison with Global Systems:
- Expected to rival Russia’s S-400 Triumf.
- Part of MSC’s vision of a US ‘Golden Dome’ or Israel’s ‘Iron Dome’-like shield.
5. BioE3 (Biotechnology for Economy, Environment, and Employment) Policy
Source: TH
Context:
The Union Minister of Science and Technology, Dr. Jitendra Singh, launched the BioE3 Challenge for Youth and India’s first National Biofoundry Network, marking one year of the BioE3 (Biotechnology for Economy, Environment, and Employment) Policy.
BioE3 Policy
The BioE3 Policy (Biotechnology for Economy, Environment and Employment) was launched by the Department of Biotechnology (DBT), Ministry of Science & Technology in 2024. It positions biotechnology as a driver of India’s economy, environmental sustainability, and job creation, aligning with the vision of Atmanirbhar Bharat.
What is BioE3 Policy?
The BioE3 Policy is a national biotechnology strategy aimed at:
- Leveraging biotechnology for economic growth.
- Addressing environmental challenges through bio-based solutions.
- Creating large-scale employment opportunities in biotech-driven sectors.
Objectives:
- Expand India’s bioeconomy to $300 billion by 2030 (from $165.7 billion in 2024 and $10 billion in 2014).
- Promote biomanufacturing hubs, biofoundries, and bio-AI hubs across India.
- Foster R&D and innovation in advanced biotech areas like:
- Cell & gene therapy
- Climate-smart agriculture
- Carbon capture technologies
- Functional foods
- Strengthen global partnerships in biotechnology.
- Encourage youth-led innovation through initiatives like the BioE3 Challenge for Youth.
6. India Introduces First-Ever Guidelines for Animal Blood Transfusion and Blood Banks
Source: ET
Context:
The Department of Animal Husbandry and Dairying (DAHD), Government of India, has introduced the country’s first comprehensive guidelines for animal blood transfusion and the establishment of animal blood banks.
Key Highlights:
- First-of-its-kind Guidelines: India has, for the first time, formalized a framework for safe animal blood transfusions and the creation of blood banks.
- Regulatory Framework: The guidelines will regulate donor selection, collection, storage, testing, and transfusion of animal blood to ensure scientific and ethical practices.
- Scope: The framework covers both companion animals (like dogs and cats) and large animals (such as cattle and equines).
- Veterinary Healthcare Boost: This move is expected to improve emergency and critical veterinary care, reduce mortality in animals, and enhance animal welfare standards.
- Implementation: Veterinary institutions, hospitals, and research centres will play a key role in adopting these standards.
Significance:
- Marks a landmark step in veterinary medicine in India.
- Aligns with global practices in animal healthcare and welfare.
- Supports livestock health, pet care, and veterinary research.
Banking/Finance
1. India May Become World’s 2nd-Largest Economy by 2038: EY Report
Source: ET
Context:
According to the August 2025 issue of EY Economy Watch, India’s economic trajectory remains robust despite global uncertainties. The report projects India to emerge as the second-largest economy by 2038, supported by strong domestic fundamentals.
Key Highlights of the Report:
- Growth Projections:
- $20.7 trillion GDP (PPP) by 2030
- $34.2 trillion GDP (PPP) by 2038, making India the 2nd-largest economy globally.
- Economic Strengths:
- High savings and investment rates.
- Favourable demographics (youth-driven workforce).
- Sustainable fiscal position.
- Strong domestic demand and advancement in modern technologies.
- Global Challenges and Mitigation:
- US tariffs on Indian imports could impact growth, but adverse effects can be limited to 10 basis points with proper countermeasures.
- Resilience driven by domestic consumption rather than external trade reliance.
Significance:
- Positions India as one of the most dynamic among the world’s top five economies.
- Reinforces India’s potential as a global growth engine in the coming decades.
- Highlights the need for policy measures to counter external risks and leverage demographic advantages.
2. Specialised Investment Funds (SIFs) Set to Debut in India as SEBI Issues First Approvals
Source: BS
Context:
The Securities and Exchange Board of India (SEBI) has begun granting approvals for Specialised Investment Funds (SIFs), a new product category introduced in April 2025 to allow mutual funds (MFs) to deploy advanced strategies such as long-short equity and debt schemes.
Key Highlights:
- Launch Plans:
- Quant MF will launch qsif Equity Ex-Top 100 Long-Short Fund and qsif Equity Long-Short Fund in September 2025.
- At least one more AMC has received approval, and two others are close to securing it.
- About SIFs:
- Introduced by SEBI in April 2025.
- Allow complex investment strategies such as long-short equity and debt schemes.
- Minimum investment ticket size: ₹10 lakh.
- MFs require two clearances – a one-time licence and product-specific approvals.
- Distribution Bottleneck:
- Only ~300 distributors registered so far with AMFI.
- Distributors must clear NISM-Series-XIII certification exam, covering equity and currency derivatives.
- AMCs are conducting training sessions to expand distribution reach.
- Market Ecosystem:
- Exchange MF platforms and registrars expected to soon adapt for SIF transactions.
- Quant MF CEO Sandeep Tandon: Initial hiccups likely, but distributor strength growing.
- Scheme Strategy:
- qsif Equity Long-Short Fund → invests across market caps.
- qsif Equity Ex-Top 100 Long-Short Fund → focuses on midcaps & smallcaps.
- Derivatives long positions capped at 50%, unhedged short exposure up to 20%.
Significance:
- Marks the formal entry of SIFs into Indian capital markets.
- Expands product range beyond conventional equity and debt MFs.
- Aims to attract sophisticated investors seeking hedge fund–like strategies.
3. SEBI on Finfluencers
Source: Mint
Context:
The Securities and Exchange Board of India (SEBI) recently raided the Avadhut Sathe Trading Academy amid allegations of unregistered investment advice, signalling a stricter approach towards “finfluencers” and investor training platforms operating outside regulatory frameworks.
Key Highlights:
- New SEBI Circular (January 2025):
- Educators can only use stock data older than three months.
- Live prices, recent tips, or indirect recommendations are banned.
- Prohibited activities include stock-specific advice, return guarantees, demo trades, and coded investment suggestions.
- Legal Perspective:
- Experts highlight a fine line between education and advice; any suggestion influencing investment decisions can invite regulatory action.
- SEBI has powers to ban entities, seek refunds, and initiate criminal proceedings against violators.
Who are Finfluencers?
- Individuals who create finance-related content on platforms like YouTube, Instagram, Twitter (X) or any other platform.
- Cover topics such as stock market tips, mutual fund reviews, crypto trading, insurance, personal finance, and budgeting.
- Not all are qualified advisors, many are self-taught and operate without SEBI registration.
4. Government Appoints Goldman Sachs as Advisor for PSB Stake Sale
Source: ET
Context:
The Government of India has appointed Goldman Sachs as the sole transaction advisor for stake dilution in four public sector banks (PSBs) — UCO Bank, Central Bank of India, Punjab & Sind Bank, and Indian Overseas Bank (IOB).
What is Stake Dilution?
- Stake dilution means the government selling a portion of its equity in PSBs to other investors (retail, institutional, or foreign).
- This reduces the government’s shareholding percentage but brings in fresh capital and improves free float in markets.
- Role of Goldman Sachs: Responsible for structuring the transaction, identifying potential investors, and overseeing execution.
Why is Stake Dilution in PSBs Important?
- Capital Infusion – PSBs often need capital for lending growth, especially to support infrastructure and priority sectors.
- Market Discipline – With more private/retail investors, PSBs face higher scrutiny, leading to better governance.
- Privatisation Agenda – Stake dilution is a step towards disinvestment and possible privatisation of select PSBs.
- SEBI Norm Compliance – Listed entities must have 25% minimum public shareholding.
- Reducing Fiscal Burden – Less dependence on budgetary recapitalisation.
5. Tata AIA Launches ‘Health SIP’ and ‘Health Buddy’ for Integrated Health and Wealth Solutions
Source: BL
Context:
Tata AIA Life Insurance has introduced Health SIP, a unit-linked health insurance plan (ULIP) that integrates health protection with wealth creation, alongside Health Buddy, a 24×7 virtual health companion.
Key Highlights:
- Health SIP – Features:
- Combines health coverage with investment opportunities.
- Zero premium allocation charges with maturity boosters to enhance fund value.
- Tax-free withdrawals from the 6th policy year for health expenses.
- Critical illness protection with premium lock-in of up to 30 years.
- Variants:
- Health SIP Plus: Includes Accidental Total & Permanent Disability benefits.
- Health SIP Plus Pro: Adds Terminal Illness with Term Booster for extra protection.
- Health Buddy – Features:
- 24×7 virtual health support via mobile app.
- Offers preventive health check-ups, women’s health support, dental consultations, and access to 24+ medical specialties.
- Includes diagnostic discounts, medical second opinions, and fitness guidance.
- Marketed as India’s first 24×7 health and wellness companion from a life insurer.
What is Health SIP?
- Health SIP works on the principle of Systematic Investment Plan (SIP) used in mutual funds but applied to health insurance.
- Instead of paying a lump-sum premium, policyholders can pay monthly or periodic instalments towards their health insurance.
- It combines elements of insurance + savings to reduce financial stress.
6. SEBI Proposes Reforms to Block Deal Framework to Enhance Transparency
Source: ET
Context:
The Securities and Exchange Board of India (SEBI) has proposed reforms to the block deal framework to strengthen market transparency and prevent manipulation in large equity transactions.
Key Highlights:
- Block Deal Definition:
- A large, single-share transaction executed between two parties during a designated trading window.
- Minimum Order Size:
- Proposed increase to ₹25 crore (from the existing ₹10 crore, in place since 2017).
- Pricing Mechanism:
- Non-F&O stocks: Proposed widening of price band to 3% from the previous day’s closing price.
- F&O stocks: Existing 1% price band to continue.
- Disclosures:
- Stock exchanges must disclose block deal details—including scrip name, client name, quantity, and price on the same day after market hours.
- Objective:
- Reduce market manipulation in large trades.
- Enhance transparency in equity markets.
Significance:
- Aligns Indian markets with global best practices for large transactions.
- Improves investor confidence and market integrity.
- Ensures better price discovery in block trades.
7. BharatPe Launches Unity Bank BharatPe Credit Card
Source: BL
Context:
BharatPe, in partnership with Unity Small Finance Bank, has launched the Unity Bank BharatPe Credit Card on the NPCI RuPay network. The card aims to provide transparent, lifetime-free credit access with innovative features and flexibility for Indian consumers.
Key Highlights:
- Partnership: BharatPe + Unity Small Finance Bank (Unity Bank).
- Network: RuPay (NPCI), with UPI linkage for seamless payments.
- Zero-Fee Card:
- No joining fee, annual fee, processing charges, or foreclosure penalties.
- Customers can prepay EMIs anytime without penalties.
- Target Users: Salaried and self-employed individuals seeking transparent, digitally delivered credit solutions.
Facts To Remember
1. Stress in Small Finance Banks (SFBs) in Q1FY26
Small Finance Banks (SFBs) witnessed a sharp deterioration in profitability and asset quality in Q1FY26, primarily due to rising stress in small-ticket loans and MSME segments.
2. AIBOC opposes plan of central govt to privatise IDBI Bank
TheAll-India Bank Officers Confederation has come out strongly against the Centres plan to privatise IDBI Bank, warning that such a step would undermine social justice, financial inclusion, and the countrys economic sovereignty.
3. Mizoram Assembly passes Bill to prohibit beggary
The Mizoram Assembly on Wednesday (August 27, 2025) passed a Bill to prohibit beggery in the state amidst objections by opposition members.
4. India set to finalise General Electric deal for LCA Mark 1A engines
Soon after the government cleared the ₹62,000-crore order for 97 additional LCA Tejas Mark 1A fighter jets, India is close to finalising a deal worth about $1 billion with U.S. firm General Electric (GE) for 113 GE-404 engines to power the indigenous aircraft.
5. ‘India set to be 2nd-largest economy’
India’s economy could reach $20.7 trillion in terms of purchasing power parity by 2030 and may emerge as the second-largest economy by 2038 with $34.2 trillion gross domestic product (GDP), an EY report said.
6. PM Modi to Engage Global Shipping CEOs at India Maritime Week 2025
India is preparing to host India Maritime Week in October 2025, aimed at attracting significant investments in shipping, ports, and shipbuilding sectors.
