Daily Current Affairs Quiz
5 November, 2025
National Affairs
1. Election Commission Launches International Election Visitors’ Program 2025
Source: News on Air
Context:
The Election Commission of India (ECI) has inaugurated the International Election Visitors’ Program (IEVP) 2025 at the India International Institute for Democracy and Election Management (IIIDEM) in New Delhi.
Key Highlights:
- Participants: The program hosts 14 participants from seven countries—France, South Africa, Belgium, Indonesia, the Philippines, Thailand, and Colombia.
- Purpose: Participants will observe polling in the first phase of the Bihar Assembly Elections, scheduled for 6 November 2025.
- Program Activities:
- A two-day tour of Bihar, including visits to Electronic Voting Machine (EVM) dispatch centres.
- Demonstrations on EVM operation, electoral roll preparation, and overall election conduct.
Significance
The IEVP is a flagship initiative of the ECI, aimed at:
- Fostering international cooperation and engagement with Election Management Bodies (EMBs) worldwide.
- Promoting best practices in election management and democratic processes globally.
2. UNEP Emissions Gap Report 2025
Context:
The UNEP Emissions Gap Report 2025, released ahead of COP30 in Belem, Brazil, highlights accelerating global greenhouse gas (GHG) emissions and insufficient progress toward Paris Agreement targets. The report warns that without rapid emission reductions this decade, the world faces a serious escalation of climate risks and damages.
Key Highlights:
- Global Emissions: GHG emissions rose 2.3% in 2024, reaching an all-time high of 57.7 GtCO₂e.
- Acceleration Trend: This growth rate is nearly four times higher than the 2010s’ average (0.6%), driven by renewed fossil fuel use amid economic recovery.
- Major Contributors: India recorded the largest absolute increase, followed by China, Russia, Indonesia, and the United States. The EU was the only major emitter to reduce emissions in 2024.
Country-Wise Trends:
- India: Emissions grew 3.6%, the steepest absolute rise globally.
- Indonesia: Highest growth rate at 4.6%, followed by India.
- China: Emissions rose 0.5%, lower than 2023.
- Per Capita Emissions: Global average is 6.4 tons CO₂e. India and Indonesia remain below average, while the US, Russia, China, and EU are above average.
Projected Warming & Climate Risks:
- Current pledges: If fully implemented, global temperatures projected to rise 2.3–2.5°C by 2100, exceeding Paris targets.
- Business-as-usual scenario: Temperatures could rise up to 2.8°C.
- Updated pledges show only marginal improvement over last year (2.6–2.8°C), indicating global efforts remain off track.
UNEP Findings & Warnings:
- Required emission reductions by 2035:
- 35% for a 2°C pathway
- 55% for a 1.5°C pathway (compared to 2019 levels)
- Inger Andersen, UNEP: “Unprecedented emissions cuts are needed in an increasingly tight window.”
Implications for India & the World:
- India’s surge is linked to rapid economic growth and reliance on coal-based power.
- Per capita emissions in India remain below global averages, highlighting a developmental energy gap.
- Urgent need for renewable energy expansion, climate financing, and technology transfer to accelerate global low-carbon transition.
3. Banks Push for Yuan Inclusion in GIFT City
Source: TOI
Context:
With diplomatic relations between India and China gradually warming, the Indian government and the International Financial Services Centres Authority (IFSCA) are revisiting a proposal to allow International Banking Units (IBUs) in GIFT City to transact in the offshore renminbi (CNH). This move could expand the range of financial products offered and strengthen GIFT City’s position as a global financial hub.
Background
- GIFT City: India’s premier International Financial Services Centre (IFSC), designed to provide global-standard financial services and professional solutions.
- Currency Proposal: Banks suggested including CNH (offshore yuan) as a permitted currency for IBUs in October 2025.
- Onshore vs. Offshore Renminbi:
- CNY: Onshore renminbi traded within China.
- CNH: Offshore renminbi traded internationally, widely accepted for cross-border transactions.
Rationale for the Proposal
- Global Trade Alignment:
- China is a major trade partner, and CNH is increasingly used in international trade settlements.
- Permitting CNH transactions would allow Indian banks to offer more diverse products and services to clients.
- Strategic Importance:
- Enhances financial diplomacy with China.
- Supports the vision of a multipolar global financial system by reducing dependence on the US dollar.
- Market Opportunity:
- IBUs in GIFT City currently transact in 15 currencies and offer spot and derivative products.
- Allowing CNH would expand the offshore liquidity pool and promote bilateral trade.
Past Developments
- In 2024, IFSCA recommended five freely floating currencies, including CNH, for IBUs.
- The government approved four currencies — SEK, DKK, NOK, NZD — but excluded CNH due to diplomatic sensitivities.
- With the easing of India-China tensions, the CNH proposal is now under high-level review.
4. PM Launches ₹1 Lakh-Crore Research, Development, and Innovation (RDI) Scheme Fund
Source: TOI
Context:
Prime Minister Narendra Modi inaugurated the Emerging Science & Technology Innovation Conclave (ESTIC) 2025 at Bharat Mandapam, New Delhi, and launched the ₹1 lakh-crore Research, Development, and Innovation (RDI) Scheme Fund.
Launch of the ₹1 Lakh-Crore RDI Scheme Fund
- The Research, Development, and Innovation (RDI) Scheme Fund — a ₹1 lakh-crore corpus — was officially launched to boost private-sector R&D investment.
- The fund aims to provide long-term, low or zero-interest capital for high-risk, high-impact projects with the potential for large-scale technological breakthroughs.
- Objective: To create capital availability for innovation-intensive sectors and promote India’s global leadership in emerging technologies.
Establishment of Anusandhan Research Foundation
- PM Modi announced the creation of the Anusandhan Research Foundation to strengthen research, innovation, and collaboration across universities and scientific institutions.
- The foundation aims to foster an academic–industry–government nexus, encouraging joint R&D and commercialization of cutting-edge technologies.
About Research, Development & Innovation (RDI) Scheme 2025
- Launched: November 3, 2025
- Corpus: ₹1 lakh crore
- Objective: To de-risk and fund high-risk, high-TRL (Technology Readiness Level) projects in deep-tech, critical technology, and strategic innovation domains.
- Mechanism: Long-tenure, low or zero-interest loans to private enterprises for bold R&D ventures.
Key Features:
- Long-term capital access: Provides flexible financing for deep-tech projects often neglected by commercial banks or venture investors.
- Deep-Tech Fund of Funds: Establishes a national fund ecosystem for start-ups in AI, semiconductors, biotechnology, and advanced materials.
- Critical technology acquisition: Enables Indian firms to develop or acquire strategic technologies vital for national security, energy independence, and digital sovereignty.
- Innovation pipeline strengthening: Offers growth and risk capital for prototype-to-market translation.
- Industry–academia collaboration: Encourages joint R&D projects to promote cross-sectoral knowledge exchange.
- Focus areas: Quantum tech, green hydrogen, space technology, bioengineering, and next-gen communication — aligning with the Viksit Bharat 2047 vision.
Complementary National Initiatives
| Initiative | Key Focus | Financial Outlay |
|---|---|---|
| ANRF (Act 2023, operational 2024) | ₹50,000 crore mobilization (2023–28); academia–industry linkages | ₹14,000 crore public + private |
| National Quantum Mission | Quantum computing, communications, materials | ₹6,003.65 crore (2023–31) |
| National Supercomputing Mission | Indigenous HPC, skill training centers (Pune, Kharagpur, Chennai, Palakkad, Goa) | Ongoing |
| India Semiconductor Mission (PLI) | Fab and chip design ecosystem | ₹76,000 crore (10 projects; ₹1.6 lakh crore investment) |
| Deep Ocean Mission | Marine tech, blue economy, biodiversity | ₹4,077 crore |
| IndiaAI Mission | Compute scale-up to 38,000 GPUs; innovation, governance, and skilling | ₹10,371.92 crore |
| AIM 2.0 (till 2028) | Expanding ATLs/AICs, MSME innovation | ₹2,750 crore |
5. Pravasi Parichay 2025
Context:
The Embassy of India in Riyadh successfully concluded the third edition of Pravasi Parichay 2025 with a grand finale titled “Gita Mahotsav – A Musical.” The event celebrated India’s spiritual, philosophical, and cultural heritage, bringing together members of the Indian diaspora and local communities in Saudi Arabia.
About Pravasi Parichay 2025
Pravasi Parichay is an annual diaspora cultural festival organized by the Embassy of India, Riyadh, aimed at showcasing India’s rich artistic, linguistic, and philosophical traditions. The event features music, dance, theatre, exhibitions, and dialogues that highlight the vibrancy and diversity of Indian culture abroad.
Host: Embassy of India, Riyadh, in collaboration with Indian diaspora associations and cultural institutions in Saudi Arabia.
Objectives
- Cultural Diplomacy: To project India’s civilizational and cultural identity on the global stage.
- Diaspora Engagement: To deepen emotional, cultural, and spiritual ties between India and the Indian community abroad.
- Promotion of Heritage: To highlight India’s unity in diversity through performances reflecting art, dance, music, and philosophy.
Banking/Finance
1. Sebi to Revamp 30-Year-Old Stock Broker Regulations
Source: ET
Context:
The Securities and Exchange Board of India (Sebi) is set to overhaul stock broker regulations, some of which have remained largely unchanged for over three decades. The move aims to strengthen risk management, data protection, and market resilience, according to Sebi Chairman Tuhin Kanta Pandey.
Key Highlights:
- Timeline for Reform:
- Sebi intends to finalize changes by December 2025, following a discussion paper released in August 2025.
- The paper proposed updates including new definitions for algorithmic and proprietary trading and rationalization of broker norms.
- Focus Areas:
- Risk Management & Data Protection: Modernizing rules to align with current market and technological standards.
- Infrastructure Stability: Sebi is examining technical glitches at the Multi Commodity Exchange (MCX), which caused trading disruptions last week.
- MCX had moved to a TCS-developed trading engine in October 2023, replacing 63 Moons Technologies.
- Pandey emphasized that repeated outages require root-cause analysis and corrective measures.
- Investor Relief Measures:
- Sebi plans to allow physical shareholders who purchased securities prior to FY20 but could not complete transfers to now lodge and transfer them in their name.
- This step aims to ease operational hurdles for long-term investors.
- Angel One Settlement:
- Angel One settled a ₹34 lakh disclosure violation case with Sebi.
- The show-cause notice in April alleged non-compliance with securities disclosure norms.
What are Stock Broker Regulations?
Stock Broker Regulations are a set of rules and guidelines framed by the Securities and Exchange Board of India (SEBI) introduced in the early 1990s to govern the registration, conduct, responsibilities, and operations of stock brokers and sub-brokers who facilitate buying and selling of securities on stock exchanges.
Legal Framework
The key framework is the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992, which:
- Define who qualifies as a stock broker and sub-broker.
- Specify eligibility, registration, and compliance requirements.
- Lay down the code of conduct and disciplinary procedures for violations.
Objectives of the Regulations
- Investor Protection: Safeguard client funds and securities against misuse.
- Market Integrity: Ensure fair, transparent, and efficient trading.
- Accountability: Enforce strict compliance, audits, and record-keeping.
- Risk Management: Reduce systemic risks through margin, capital, and reporting norms.
- Transparency: Mandate proper disclosures and grievance redressal mechanisms.
Key Provisions (Under the 1992 Regulations)
- Registration Requirement: Every broker and sub-broker must be registered with SEBI and the stock exchange.
- Capital Adequacy: Brokers must maintain minimum net worth and deposit requirements.
- Client Protection:
- Maintain separate accounts for client funds and own funds.
- Issue contract notes after every transaction.
- Code of Conduct: Enforces integrity, diligence, and fair dealing.
- Audit & Reporting: Periodic submission of financial and compliance reports to SEBI/exchanges.
- Grievance Redressal: Investor complaints handled through SEBI’s SCORES platform and exchange mechanisms.
2. Brokers Urge Sebi to Restore Bank Nifty Weekly Options
Context:
The Association of National Exchanges Members of India (ANMI) has appealed to the Securities and Exchange Board of India (Sebi) to restore weekly options on the Bank Nifty index, citing their importance as a hedging tool and market liquidity concerns. The move comes amid ongoing debate over Sebi’s restrictions on weekly expiries after massive retail investor losses.
Background: SEBI’s Restrictions on Weekly Options
- SEBI had imposed curbs on weekly expiries across major indices, including Bank Nifty and Nifty, to reduce speculative retail trading and associated losses.
- The regulator highlighted that high-frequency trading in weekly options had led to retail investors suffering substantial losses, often due to inadequate understanding of derivatives risks.
- The measure aimed to enhance market stability and discourage excessive short-term speculation.
Why Bank Nifty Options Matter
- Bank Nifty is one of the most actively traded indices on Indian exchanges, representing major banking sector stocks.
- Weekly options allow participants to manage short-term risks, hedge portfolios, and enhance market participation.
- These derivatives also contribute significantly to exchange turnover and liquidity.
Regulatory Context
- SEBI’s move is part of a broader derivatives market reform aimed at protecting small investors, ensuring responsible participation, and reducing speculative losses.
- Exchanges like NSE have also been directed to implement investor education initiatives and risk disclosure mechanisms for derivatives traders.
What are Weekly Options on the Bank Nifty Index?
Weekly options on the Bank Nifty index are derivative contracts that give traders and investors the right, but not the obligation, to buy or sell the Bank Nifty index at a specified price (called the strike price) on or before a specific weekly expiry date.
Understanding the Bank Nifty Index
- Bank Nifty (Nifty Bank) is a benchmark index that tracks the performance of the 12 most liquid and large-cap banking stocks listed on NSE (e.g., HDFC Bank, ICICI Bank, SBI, Kotak Mahindra Bank).
- It reflects the overall performance of the banking sector in the stock market.
What “Weekly Options” Mean
- Weekly options are short-term option contracts that expire every Thursday (unless there is a market holiday).
- For example, if you buy a Bank Nifty call option with a weekly expiry on Thursday, November 6, it will expire at the end of that day.
- Unlike monthly options (which expire on the last Thursday of the month), weekly options last only for a few days and are designed for short-term traders.
Types of Bank Nifty Weekly Options
- Call Option (CE):
Gives the buyer the right to buy the Bank Nifty index at a set strike price. - Put Option (PE):
Gives the buyer the right to sell the Bank Nifty index at a set strike price.
3. SBI Launches Digital Life Certificate Campaign for Pensioners
Context:
The State Bank of India (SBI) has initiated a nationwide Digital Life Certificate (DLC) campaign to simplify and digitize the life certificate submission process for pensioners.
Key Highlights:
- Technology Use: This system enables pensioners to submit life certificates digitally without the need for physical biometric devices, enhancing convenience and accessibility, especially for elderly citizens.
- Nationwide Outreach: SBI is conducting similar camps in 115 cities and towns across India.
Significance:
- Promotes digital inclusion and ease of living for pensioners.
- Reduces the need for physical visits to bank branches.
- Supports the government’s Digital India initiative by leveraging Aadhaar authentication for secure, paperless pension services.
4. RBI’s Rupee Defence Drains Banking System Liquidity
Source: BS
Context:
The Reserve Bank of India’s (RBI) aggressive intervention in the forex market to defend the rupee is reducing liquidity in the banking system, raising concerns among economists and traders about its impact on interest rates and economic growth.
Key Highlights:
- Forward Book Position:
- RBI’s net short position in FX forwards and futures stood at $59.4 billion as of September-end.
- Indicates continued sales of U.S. dollars in the forward market to support the rupee.
- Data on the forward book is released with a one-month lag.
- Market Instruments:
- The FX forward book includes positions in both non-deliverable forwards (NDF) and onshore forward markets.
- The forward book had previously peaked in February 2025 before moderating over the next few months.
- Purpose of Intervention:
- To curb rupee volatility and contain speculative pressures.
- Helps reduce liquidity drain in the banking system compared to spot market dollar sales.
- According to Gaura Sen Gupta, Chief Economist at IDFC First Bank, this strategy allows RBI to defend the rupee “without tightening domestic liquidity too sharply.”
Rupee Movement and Market Context:
- The rupee weakened for the fifth consecutive month in September, touching a record low of ₹88.80 per U.S. dollar.
- Depreciation pressures were linked to:
- Gold import-related outflows,
- Foreign portfolio investor (FPI) withdrawals, and
- Concerns over potential U.S. trade tariffs on Indian goods.
- Despite RBI’s intervention, the rupee continued to hover around ₹88.76 per dollar in early November, close to its record low.
5. NaBFID to Be Repositioned as a Global Financial Institution
Source: ET
Context:
The National Bank for Financing Infrastructure and Development (NaBFID) is set to be renamed as Infrastructure Development Bank (IDB), signaling its ambition to emerge as a global-level financial institution akin to the Asian Development Bank (ADB) and the International Finance Corporation (IFC).
Key Highlights:
- Name and Branding:
- NaBFID will adopt a new name – Infrastructure Development Bank (IDB).
- A new logo will also be launched to reflect its enhanced global positioning.
- Purpose and Background:
- Established under the National Bank for Financing Infrastructure and Development Act, 2021, NaBFID is 100% government-owned.
- Its core mandate is to finance long-term infrastructure projects across India.
- The institution was initially launched quickly to start operations, with branding and global positioning deferred, but recent efforts aim to align its identity with its developmental role.
- Strategic Goal:
- The renaming and rebranding aim to enhance international recognition, attract global investors, and facilitate partnerships with other multilateral and development financial institutions.
National Bank for Financing Infrastructure and Development (NaBFID)
- Established under: NaBFID Act, 2021
- Passed by Parliament: March 2021
- Commenced operations: April 2022
- Type: Development Finance Institution (DFI)
- Headquarters: New Delhi, India
- Ownership: Government of India (majority stake)
- Objective: To provide long-term finance for infrastructure projects, develop bond markets, and promote private investment in India’s infrastructure sector.
6. Bank of Baroda Pauses Nainital Bank Divestment Plan
Source: BL
Context:
Bank of Baroda (BoB) has shelved its plan to divest majority shareholding and relinquish control in its subsidiary Nainital Bank Ltd (NBL). The decision marks a shift from its earlier intent to offload stake and exit the subsidiary.
Background:
- Nainital Bank Ltd (NBL) is a regional private sector bank headquartered in Nainital, Uttarakhand.
- It was established in 1922 and became a subsidiary of Bank of Baroda in 1973, with BoB holding a 98.6% stake.
- BoB had earlier been exploring options to divest its controlling stake in compliance with RBI’s directive to reduce ownership in subsidiaries.
About Nainital Bank Ltd:
- Headquarters: Nainital, Uttarakhand
- Established: 1922
- Subsidiary of: Bank of Baroda (since 1973)
- Business Focus: Retail, MSME, and regional banking in northern India
- Ownership: 98.6% held by Bank of Baroda
7. NPCI Partners with Razorpay Curlec to Enable UPI Payments in Malaysia
Source: BL
Context:
The National Payments Corporation of India (NPCI) International Payments Ltd (NIPL) has partnered with Razorpay Curlec to enable Unified Payments Interface (UPI) transactions in Malaysia. The agreement was formalized during the Global Fintech Fest (GFF) 2025.
Key Highlights:
- Cross-Border UPI Expansion:
- Indian travellers visiting Malaysia can now make instant and secure payments to local merchants using UPI-enabled apps (such as PhonePe, Paytm, or Google Pay).
- Integration Partner: Razorpay Curlec, a Malaysian fintech firm, will act as the local acquiring partner, allowing seamless merchant acceptance across Malaysia.
- User Benefit:
- Eliminates the need for foreign currency or cash payments.
- Reduces foreign exchange conversion costs.
- Provides real-time payment convenience and better transparency for users.
About NPCI International Payments Ltd (NIPL):
- Subsidiary of: National Payments Corporation of India (NPCI)
- Established: 2020
- Objective: Internationalize India’s payment systems — UPI and RuPay — through global partnerships and interoperability initiatives.
Agriculture
1. APEDA Facilitates First Export of Fortified Rice Kernel from Chhattisgarh to Costa Rica
Source: PIB
Context:
The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated India’s first export of 12 metric tonnes of Fortified Rice Kernel (FRK) from Chhattisgarh to Costa Rica. This initiative integrates India’s domestic nutrition programs with global outreach and showcases its technological capabilities in food fortification.
About Fortified Rice Kernel (FRK)
FRK is a nutritionally enhanced rice, produced by blending rice flour with micronutrients such as iron, folic acid, and vitamin B12. The mixture is extruded and reshaped to resemble natural rice grains.
Key Features:
- Micronutrient Enrichment: Helps combat anaemia and malnutrition.
- Blending Ratio: Typically mixed with regular rice at a 1:100 ratio for uniform nutrient distribution.
- Technological Innovation: Uses extrusion technology, highlighting India’s advancement in fortified foods.
- Global Compliance: Meets international food safety and fortification standards, making it suitable for export.
About APEDA
Full Form: Agricultural and Processed Food Products Export Development Authority
Establishment:
- Formed under the APEDA Act, 1985 (Act 2 of 1986), operational from 13 February 1986.
- Replaced the Processed Food Export Promotion Council (PFEPC).
- Objective: To promote and develop exports of agricultural and processed food products from India, enhance quality standards, and diversify India’s agri-export portfolio.
Key Functions:
- Development and Support: Provide financial and technical assistance to industries exporting scheduled products.
- Exporter Registration: Register and monitor exporters to ensure quality compliance.
- Quality Control & Inspection: Oversee inspections of meat and processed food for global standards.
- Packaging & Marketing: Enhance packaging, branding, and access to international markets.
- Data and Training: Collect export statistics, publish trade data, and conduct training in agri-export management.
- Promotion of Value Addition: Encourage fortification, organic certification, and GI-based exports to boost global competitiveness.
Facts To Remember
1. Nation Celebrates Guru Nanak Jayanti with Devotion; PM, President Extend Greetings
Guru Nanak Jayanti, also known as Gurpurab, is being celebrated with great religious fervour and devotion across the country and around the world today.
2. Maharashtra Becomes First State to Partner with Starlink for Satellite-Based Internet Services
Maharashtra has become the first state in India to sign an agreement with Starlink Satellite Communications Private Limited to provide satellite-based internet services across government institutions and rural areas.
3. 100 5G Labs Set Up Nationwide to Boost 6G R&D
100 5G Labs have been established across the country to strengthen the 6G Research and Development ecosystem.
4. Third Maritime Information Sharing Workshop Concludes in Gurugram
The third edition of Maritime Information Sharing Workshop concluded in Gurugram today.
5. MeitY Unveils India AI Governance Guidelines to Promote Safe and Responsible AI Adoption
The Ministry of Electronics and Information Technology (MeitY) today unveiled the India AI Governance Guidelines in New Delhi.
6. Ministry of New and Renewable Energy to Host International Conference on Green Hydrogen 2025 in New Delhi
The Ministry of New and Renewable Energy will host the International Conference on Green Hydrogen- 2025 on the 11th and 12th of this month in New Delhi.
