Daily Current Affairs (DCA) 3&4 August, 2025

Daily Current Affairs Quiz
3&4 August, 2025

National Affairs

1. LVM3 Rocket with Semi-Cryogenic Engine

Context:

The Indian Space Research Organisation (ISRO) is preparing for a landmark technological advancement with the scheduled launch of an LVM3 rocket powered by a semi-cryogenic propulsion stage by early 2027. This will significantly enhance India’s space launch capability and reduce dependency on foreign engines.

Key Developments:

• Rocket Upgrade:
  • The LVM3 (formerly GSLV Mk III), India’s most powerful rocket, will be upgraded with a semi-cryogenic engine stage, replacing the current L110 liquid propellant stage.
• Propellant Details:
  • The new stage will use refined kerosene (RP-1) and liquid oxygen (LOX), a shift from the traditional hypergolic propellants.
• Engine Specification:
  • The SE2000 semi-cryogenic engine is under testing. It will provide 200 tonnes of thrust, compared to 80 tonnes by the current Vikas engine.

TH

2. National Child Survey to Develop Child Index Under Mission Vatsalya

Context:

To strengthen child rights protection and enhance evidence-based policymaking, the Ministry of Statistics and Programme Implementation (MoSPI), in collaboration with the Ministry of Women and Child Development (MoWCD), is set to conduct a National Child Survey.

Objective of the Survey

• Mission Vatsalya is the core focus of the survey.
• The survey aims to map the needs of children:
  • In need of care and protection
  • In conflict with law
• The ultimate goal is to develop a Child Index to guide welfare policies.

Mission Vatsalya Portal

The Ministry of Women and Child Development (MWCD) has launched the revamped Mission Vatsalya Portal, a unified digital platform designed to streamline child protection services and integrate earlier services like Khoya-Paya and TrackChild.

Objective

• To create a secure, centralized, and tech-enabled system for monitoring and managing child protection efforts across India, improving coordination among various stakeholders and ensuring real-time data-driven decision-making.

Key Features of the Mission Vatsalya Portal

• Integrated platform combining Khoya-Paya and TrackChild under a single portal.
• Multi-stakeholder access, including:
  • State level: State Child Protection Society (SCPS), State Adoption Resource Agency (SARA)
  • District level: District Child Protection Unit (DCPU), Child Welfare Committee (CWC), Juvenile Justice Board (JJB), Special Juvenile Police Unit (SJPU), and Child Care Institutions (CCIs)
• Real-time Monitoring: MIS dashboards enhance monitoring, evaluation, and reporting.
• Avoids duplication of data entry and services at the grassroots level.
• Ensures resource optimization and efficient implementation of child welfare schemes.
• Provides a digital workflow system for case tracking and inter-agency coordination.

Significance of the Child Index

• Will provide a data-driven foundation for policies under Mission Vatsalya.
• May serve as a tool to monitor child welfare outcomes across states.
• Addresses a major statistical gap in understanding vulnerable children’s conditions.

BS

3. India to Launch Climate Finance Taxonomy

Context and Background:

India is set to launch its first comprehensive Climate Finance Taxonomy in August 2025, providing clear definitions for investments that qualify as climate-aligned. The move aims to mobilize both domestic and international capital towards clean energy, adaptation, and achieving India’s net-zero targets.

This taxonomy is aligned with India’s obligations under the Paris Agreement and was first announced in the Union Budget 2024 by Finance Minister Nirmala Sitharaman.

What is Climate Finance Taxonomy?

A climate finance taxonomy is a structured classification system that helps identify:

• Green and climate-resilient assets
• Eligible economic activities and projects
• Sectoral priorities consistent with climate mitigation, adaptation, and financing goals

Key Features of India’s Climate Finance Taxonomy

As per the final draft prepared by the Department of Economic Affairs:

• Hybrid Classification System: Includes both climate-supportive and transition-supportive investments
• Phased Rollout: A two-stage implementation—starting with a foundational taxonomy, followed by detailed sector-wise annexures
• Support for MSMEs: Strong emphasis on channeling finance towards micro, small and medium enterprises for green transitions
• Adaptation Focus: Equal weight on adaptation finance along with mitigation
• Guardrails against Greenwashing: Strong eligibility standards and verification criteria
• Alignment with National Targets: Fully integrated with India’s net-zero by 2070 goal and the Viksit Bharat 2047 development vision

Why This Matters

• Offers investors and financial institutions clarity and confidence about what qualifies as green finance
• Enables targeted policy incentives and resource allocation
• Helps India meet its Nationally Determined Contributions (NDCs)
• Boosts private sector participation in climate financing
• Positions India as a responsible and data-driven actor in global sustainable finance markets

Mint

Banking/Finance

1. Choice International Gets SEBI Approval to Launch Mutual Fund Business via Choice AMC

Context:

Mumbai-based financial services company Choice International Ltd has received the final approval from the Securities and Exchange Board of India (SEBI) for its subsidiary, Choice AMC, to operate as a full-fledged Asset Management Company (AMC). This marks the company’s entry into India’s ₹50 lakh crore mutual fund industry.

Key Highlights:

• Regulator: SEBI has granted the final nod to Choice AMC to commence mutual fund operations.
• Initial Strategy: The AMC will adopt a phased rollout, beginning with passive investment products, such as:
  • Index Funds
  • Exchange Traded Funds (ETFs)

Significance

• Investor Accessibility: Passive products offer low-cost, diversified investment options ideal for retail participation.
• Holistic Financial Platform: With this move, Choice Group strengthens its position as an integrated player across broking, lending, investment banking, and now mutual funds.
• Governance Focus: The AMC aims to operate within a strong regulatory and governance framework to ensure investor protection and long-term scalability.

BS

2. Quant Mutual Fund Becomes First AMC in India to Launch Specialized Investment Fund (SIF)

Context:

Quant Mutual Fund has received final approval from the Securities and Exchange Board of India (SEBI) to launch India’s first Specialized Investment Fund (SIF), marking a major regulatory and strategic milestone in the evolution of the country’s asset management industry.

Key Highlights:

• First-of-its-Kind Approval: Quant MF will launch the QSIF Equity Long-Short Fund, India’s first fund under the newly created SIF category.
• Strategy: The fund will use long-short investment strategies across:
  • Equity
  • Debt
  • Hybrid categories
• Launch Timeline: The fund is expected to be launched in August 2025.

What is a Long-Short Fund?

A long-short fund allows the fund manager to:

• Take long positions in securities expected to rise.
• Take short positions in securities expected to fall.
  This approach seeks to reduce portfolio volatility while enhancing potential returns, especially useful in uncertain or volatile markets.

About Specialized Investment Funds (SIFs)

SIFs are a new fund category under SEBI’s framework allowing mutual funds to offer advanced investment strategies. These funds can be launched as:

• Open-ended, close-ended, or interval schemes.
• Designed to expand product diversity and deepen India’s mutual fund ecosystem.

SEBI’s Compliance Mechanism for SIFs

• Minimum Investment Threshold: ₹10 lakh per investor.
• Breach Handling:
  • If threshold falls below ₹10 lakh due to any transaction, all SIF units of the investor will be frozen for debit.
  • The investor will be given a 30-day notice to rebalance and comply.
  • If rebalanced in time, units will be unfrozen.
  • If not, the units will be automatically redeemed at the prevailing NAV by the AMC.

Mint

3. RBI Approves Merger of New India Co-operative Bank with Saraswat Co-operative Bank

Context:

The Reserve Bank of India (RBI) has approved the amalgamation of fraud-hit New India Co-operative Bank (NICB) with Saraswat Co-operative Bank (SCB), under its voluntary merger framework for Urban Co-operative Banks (UCBs).

Key Highlights:

• What Happened
  • Saraswat Co‑operative Bank, India’s largest urban cooperative bank, has secured RBI approval to merge with the fraud-hit New India Co‑operative Bank (NICB).
  • The merger is effective from August 4, 2025, and all NICB branches will operate as Saraswat Bank branches from that day onward.
• Reason for the Merger
  • NICB was placed under RBI moratorium in February 2025 following governance failures and a ₹122 crore fraud by senior officials, which resulted in frozen withdrawals and deposit restrictions
  • Saraswat Bank voluntarily proposed to absorb NICB to safeguard investors’ interests and stabilize the bank’s operations.
• Initiation
  • India’s largest UCB, Saraswat Bank, had voluntarily proposed the merger to RBI.

Significance

• Strengthens Saraswat Bank’s presence in Maharashtra, especially Mumbai.
• Enhances stability in the UCB sector by protecting depositors and resolving distressed bank assets.
• Reinforces RBI’s strategy of consolidation and clean-up in the co-operative banking space through voluntary amalgamations.

TOI

4. India Post Payments Bank Rolls Out Aadhaar-Based Face Authentication for Digital Banking

Context:

India Post Payments Bank (IPPB), under the Ministry of Communications, has launched Aadhaar-based face authentication for customer transactions nationwide, making it the first large-scale deployment of facial recognition-based banking in India.

Objective

To promote inclusive, contactless, and accessible banking for all citizens, especially the elderly, differently-abled, and those facing challenges with fingerprint or OTP-based authentication.

Key Features of the Face Authentication Facility

• Developed under UIDAI framework using Aadhaar’s facial recognition capabilities.
• Enables secure, OTP-free and fingerprint-free Aadhaar authentication for transactions.
• Ensures fast, contactless, and seamless customer experience, especially during health-related emergencies.
• Available for a range of services:
  • Account opening
  • Balance inquiry
  • Fund transfers
  • Utility payments

Significance

• Strengthens IPPB’s mission of “Aapka Bank, Aapke Dwaar”.
• Supports Digital India and Financial Inclusion goals by increasing last-mile banking access.
• Particularly beneficial for rural and semi-urban populations, aged individuals, and citizens with worn-out fingerprints.

About India Post Payments Bank (IPPB)

• Established: September 1, 2018
• Parent Ministry: Department of Posts, Ministry of Communications
• Ownership: 100% Government of India
• Headquarters: New Delhi
• MD & CEO: Shri R. Viswesvaran
• Network:
  • ~1.65 lakh post offices (including ~1.4 lakh in rural areas)
  • ~3 lakh postal employees acting as banking service agents
• Technological Pillars: Based on India Stack for paperless, cashless, presence-less banking
• Customer Base: 11 crore+ customers across 5.57 lakh villages and towns
• Languages Supported: Banking available in 13 regional languages

TET

Agriculture

1. Bio-Fortified Iron-Rich Potatoes to Enter Indian Markets Soon

Context:

India is set to introduce bio-fortified potatoes enriched with iron, aimed at combating nutritional deficiencies. The initiative is led by the International Potato Center (CIP), a global leader in tuber crop research, which is currently setting up its South Asia Regional Centre in Agra.

Key Highlights:

• Bio-Fortified Potato
  • Bio-fortified potatoes are a new variety enriched with higher iron content aimed at addressing iron deficiency and hidden hunger.
  • These are developed using conventional breeding and biotechnology without altering taste or yield.
• New Bio-Fortified Potato Variety:
  • Developed by CIP with added iron content to address widespread iron deficiency and anaemia.
  • The germplasm has been shared with ICAR’s Central Potato Research Institute (CPRI) in Shimla.
  • The first iron-rich variety has already been released in Peru and is now under evaluation for Indian agro-climatic conditions.
• Bio-Fortified Sweet Potatoes Already in India:
  • Vitamin A-enriched sweet potatoes, also developed by CIP, are currently cultivated and distributed in:
    • Karnataka
    • Assam
    • West Bengal
    • Odisha
• Scaling Access to Farmers:
  • CIP plans to expand seed access to Indian farmers to promote wider adoption of nutrient-rich tuber crops.
  • Focus on integrating agronomic suitability with nutritional value in local crop development.
• Ideal Location
  • The potato research and seed multiplication centre will be located in the Indo-Gangetic plains, the world’s largest potato-producing region, making it strategically important for national and global potato supply chains.

TH

2. Agri-Influencers in India

Context:

India is on track to reach over 900 million internet users by 2025, with the majority from rural areas, according to IAMAI-Kantar. This digital expansion has given rise to a new category of content creators—agri-influencers—who are reshaping perceptions of rural life and agriculture through authentic, grassroots digital content.

Key Highlights:

• Who Are Agri-Influencers?
  • Real-life farmers sharing their experiences on YouTube, Instagram, ShareChat, and similar platforms.
  • Content includes crop techniques, pest control, equipment demos, and daily farm life.
  • Videos are in local languages, making them relatable and culturally relevant.
• Impact on Public Perception
  • Farming is now seen as aspirational and innovative, especially by rural youth.
  • Content is creating peer-to-peer agricultural education, replacing the need for formal training in many areas.
  • Influencers are becoming rural role models and fostering community pride.
• Commercial Potential
  • Agri-influencers are trusted product endorsers, especially for seeds, tools, and agri-fintech products.
  • Brands are partnering with these creators for vernacular, targeted marketing.
  • A new niche industry has emerged around managing agri-influencer campaigns, content strategies, and performance analytics.
• Challenges and Risks
  • Patchy internet access and limited monetisation models hinder growth.
  • The influx of commercial interests may dilute authenticity.
  • Emphasis must remain on education, community service, and truthful storytelling.
• Policy and Industry Implications
  • Rural India is no longer a passive consumer base but an active creator ecosystem.
  • Policymakers, platforms, and brands must invest in digital literacy, content infrastructure, and transparent partnerships.
  • Supporting agri-influencers can drive inclusive rural growth and entrepreneurship.

Why It Matters?

This is more than a digital trend it’s a social transformation. Agri-influencers are helping India rethink agriculture through the lens of community, resilience, and innovation. Their stories are not only changing how farming is practiced but also how it is valued and celebrated.

BL

Facts To Remember

1. China, Russia start three-day joint naval drills in Sea of Japan

China and Russia began joint naval drills in the Sea of Japan on Sunday as they seek to reinforce their ties and counterbalance what they see as a U.S.-led global order. 

2. Four Somalis and three Ethiopians among 8 executed by Saudi Arabia

Saudi Arabia executed eight people in a single day, state media said, amid a surge in the use of the death penalty in the Gulf monarchy particularly over drug-related convictions. 

3. Norris wards off Piastri to win Hungarian GP

Lando Norris held off McLaren teammate Oscar Piastri to win the Hungarian Grand Prix on a one-stop strategy and slash the Australian’s Formula One lead to nine points going into the August break.

4. Sreeshankar leaps to title in Kazakhstan

Long jumper Murali Sreeshankar clinched his third straight title at the Qosanov Memorial Athletics Meet in Almaty, Kazakhstan, on Saturday after coming back from a long injury lay-off.

5. PM to Launch Bengaluru’s Yellow Line Metro on Aug 10

Prime Minister Narendra Modi will open the long-delayed Yellow Line of Bengaluru Metro on August 10, connecting Rashtriya Vidyalaya Road in South Bengaluru to Bommasandra on the east with 16 stations.

6. India Misses AIP Upgrade for Kalvari-Class Submarines Amid DRDO Delays

India’s attempt to enhance the underwater endurance and stealth of its Kalvari-class (Scorpene) conventional submarines has suffered another setback. The indigenous Air Independent Propulsion (AIP) system being developed by DRDO is still not operational, causing delays in retrofitting submarines with this key strategic capability.