Daily Current Affairs (DCA) 6 May, 2025

Daily Current Affairs Quiz
6 May, 2025

National Affairs

1. Escalating Geopolitical Tensions Pose Risks for Pakistan’s Economy, Moody’s Analysis

Context:

Moody’s Ratings warns that escalating tensions between India and Pakistan will severely impact Pakistan’s economy and hinder its access to external financing. In contrast, India’s economic outlook remains relatively stable, despite the geopolitical risks.

Impact on Pakistan’s Economic Outlook

Economic Struggles and Financial Vulnerability

• Pakistan’s foreign exchange reserves have fallen to $15.25 billion, insufficient to meet external debt payments in the coming years.
• Pakistan’s IMF bailout of $7 billion secured in September 2024 is under strain due to ongoing economic challenges.
• Escalating tensions are expected to weigh on Pakistan’s growth, delay its fiscal consolidation, and hinder progress toward macroeconomic stability.

Geopolitical Risks for Pakistan

• Sustained escalation in tensions with India could impair Pakistan’s economic stability and deter international investments.
• Pakistan’s growth prospects may be further compromised as the country grapples with the economic repercussions of military tensions.

India’s Economic Outlook Amid Geopolitical Risks

Limited Impact from Tensions

• India’s economic growth remains stable, with moderating growth rates amid strong public investment and healthy private consumption.
• Tensions with Pakistan are unlikely to disrupt India’s economic activity significantly, although higher defense spending could affect India’s fiscal strength and slow fiscal consolidation.

Defense and Fiscal Strength

• The geopolitical situation may lead to higher defense expenditures in India, impacting its fiscal policies and budget deficit management.

Geopolitical Developments Post-Attacks

• India suspended the Indus Waters Treaty of 1960 following a terror attack in Pahalgam in April 2025.
• Pakistan responded by suspending the 1972 Simla peace treaty.
• Moody’s predicts periodic flare-ups between India and Pakistan but expects them to avoid broad-based military conflict.

Growth Projections and Future Outlook

India’s Economic Growth

• Moody’s projects India’s GDP growth in the range of 5.5% to 6.5% for 2025.
• India is likely to maintain stability, benefiting from strong domestic consumption and public investment.

Pakistan’s Fiscal Struggles

• Pakistan’s fiscal consolidation may be set back by ongoing geopolitical tensions, further limiting its growth and macroeconomic stability.

BS

2. Indigenous Rights and Conservation

Exclusionary Conservation: The Global and Indian Context

• Conservation policies are increasingly excluding Indigenous Peoples and Local Communities (IPLCs), treating them as encroachers rather than custodians.
• The fortress conservation model, rooted in colonial frameworks, displaces communities by enforcing state-controlled protected areas.
• Globally, 10–20 million people have been displaced; India has seen at least 6 lakh people affected by similar approaches.

IPLCs: Biodiversity Custodians

• Communities such as the Masai, Ogiek, Batwa, Ashaninka, and India’s Adivasis have sustainably managed biodiversity-rich landscapes for generations.
• Research shows IPLC-managed lands often outperform state-managed protected areas in terms of conservation outcomes.
• Tenure rights and traditional governance systems strengthen conservation efforts when legally recognised.

International Legal Frameworks: CBD and KMGBF

• The Convention on Biological Diversity (CBD), signed by 196 countries including India, aims to conserve biodiversity and ensure equitable sharing of benefits.
• In 2022, the Kunming-Montreal Global Biodiversity Framework (KMGBF) was adopted with 23 global targets, including the ‘30 by 30’ goal.
• A permanent IPLC subsidiary body was created during CBD COP-16 (2025), making the CBD the first UN convention with such a platform.

India’s Legal and Constitutional Landscape

• India enacted the Biological Diversity Act (BDA) 2002 in line with CBD, but its approach remains top-down and bureaucratic.
• The Wildlife Protection Act (1972) and Project Tiger (1973) adopted the exclusionary protected-area model.
• In contrast, The Forest Rights Act (FRA) 2006 offers a decentralised, democratic model by empowering gram sabhas to manage community forest resources.
• The PESA Act (1996) and Articles 244 and 244A of the Constitution also support tribal autonomy and resource governance.

FRA: A Legal Tool for Inclusive Conservation

• FRA recognises 13 categories of rights, especially:
  • Right to access biodiversity and traditional knowledge
  • Right to conserve and manage community forest resources
• FRA acknowledges historical injustice to forest dwellers and seeks to reverse displacement.

India’s 2025 Biodiversity Strategy

• India updated its National Biodiversity Strategy and Action Plan (NBSAP) with 23 targets for 2030.
• Though it supports bottom-up governance, it still leans heavily on State forest departments, neglecting the full potential of gram sabha-led management.
• Biodiversity Management Committees (BMCs) under the BDA are still not fully functional, limiting community participation.

Moving Beyond Protected Areas: OECMs

• Other Effective Area-Based Conservation Measures (OECMs) offer a way to include IPLCs in conservation beyond formal protected areas.
• India plans to notify OECM guidelines, which must:
  • Not duplicate protected areas
  • Involve community-led or IPLC governance
  • Sustain ecosystem and cultural values
• Experts warn OECMs could become tools for resource exploitation unless rights are secured under FRA.

TH

3. Finance Minister to Attend ADB Annual Meeting in Milan

Context:

Union Finance Minister Nirmala Sitharaman is leading the Indian delegation to the 58th Annual Meeting of the ADB Board of Governors in Milan, Italy.

About ADB (Asian Development Bank):

• Headquarters: Mandaluyong, Metro Manila, Philippines
• Founded: 1966
• President: Masato Kandaassa
• Mission: Supports inclusive, resilient, and sustainable growth across Asia and the Pacific

About Ministry of Finance:

• Cabinet Minister: Smt. Nirmala Sitharaman
• Ministers of State: Shri Pankaj Chaudhary, Dr. Bhagwat Kishanrao Karad

Banking/Finance

1. What is Digital Rupee (e₹)?

• The Digital Rupee (e₹) is India’s Central Bank Digital Currency (CBDC), issued by the Reserve Bank of India (RBI).
• It is a legal tender in digital form, mirroring the value of physical ₹ and backed by the RBI.
• e₹ offers cash-like features such as instant settlement, offline usability (in pilot), and secure storage in digital wallets.

Key Features of Digital Rupee

• Storage: Stored in a digital wallet on mobile phones, similar to a physical wallet.
• Availability: Usable 24×7, even outside banking hours.
• No Interest: Like cash, no interest is paid on e₹ balances.
• Free to Use: No charges or fees for usage or wallet maintenance.
• Denominations: Available in the same denominations as physical ₹, with built-in functionality to manage change.

e₹ Wallet

• Offered by 15 pilot banks and select non-banks.
• Available on Android and iOS platforms.
• Can be used for person-to-person (P2P) and person-to-merchant (P2M) transactions via CBDC or UPI QR codes.
• Safe and secure, with wallet recovery possible even if the device is lost.

How to Use

• Download the respective bank’s e₹ app.
• Link to savings account (KYC simplified).
• Use for payments, transfers, and offline transactions (in select cases).

Participating Banks (Retail CBDC)

Some of the major banks include:

• SBI – eRupee by SBI
• ICICI Bank, HDFC Bank, YES Bank, Axis Bank
• Union Bank, Bank of Baroda, PNB, Indian Bank, etc.
  (All apps available on Google Play Store and Apple App Store.)

Difference Between e₹ and UPI

Feature	e₹	UPI
Nature	Digital form of ₹ (currency)	Payment interface
Settlement	Direct between wallets	Routed through bank accounts
Store of Value	Yes	No

Advanced Features

• Offline Payments: Enables transactions in low/no internet areas (under testing).
• Programmability: Funds can be restricted for specific uses (e.g., subsidies, allowances).

Wholesale CBDC (e₹-W)

• Meant for interbank settlements and large-value transactions.
• Currently used for:
  • G-Sec market settlements
  • Inter-bank call money transactions
• Offers programmability, smart contracts, and reduces settlement risk and cost.

Participants in e₹-W

• Includes 14 institutions (banks and non-banks) participating in the wholesale CBDC pilot.

The Digital Rupee (e₹) represents a significant step in India’s financial digitalization, aimed at enhancing payment efficiency, financial inclusion, and monetary innovation. With pilots in place for both retail and wholesale use, RBI is testing its scalability, security, and usability across diverse segments.

2. SC Orders Liquidation of Bhushan Power & Steel

Context:

The Supreme Court of India declared the 2021 resolution plan for Bhushan Power and Steel Ltd (BPSL) illegal. The court cited serious lapses by Resolution Professional (RP) Mahender Kumar Khandelwal, including failure to:

• Submit Form H (compliance certificate under CIRP norms)
• Verify eligibility of the successful bidder, JSW Steel, under Section 29A of the Insolvency and Bankruptcy Code (IBC)
• Disclose a joint venture between JSW Steel and an entity linked to BPSL’s former promoters

Legal Basis for Liquidation

• Section 25 of IBC: Obligates RPs to ensure due diligence and verify applicant eligibility.
• Section 29A: Disqualifies resolution applicants connected to the corporate debtor’s former promoters or other ineligible parties.
• The CoC was not given verified assurance on JSW’s eligibility post-initial discussions.

Material Lapses Identified

• Non-disclosure of critical facts by JSW and the RP misled both the Committee of Creditors (CoC) and the National Company Law Tribunal (NCLT).
• The SC termed the omissions “not procedural but material”, directly undermining the legality of the plan.

Implications for IBC Framework

• The ruling underscores greater accountability for resolution professionals.
• Legal experts say the verdict will:
  • Raise the bar for due diligence in insolvency cases
  • Encourage process transparency and compliance
  • Empower IBBI to initiate disciplinary action against erring professionals

Background

• BPSL was admitted to insolvency in 2017 after defaulting on ₹47,200 crore of debt.
• JSW Steel’s plan had been approved in 2021, but the current order invalidates that resolution path.

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3. RBI Winds Down Short Dollar Positions While Managing Liquidity Through OMOs

Context:

The Reserve Bank of India (RBI) has begun unwinding its short dollar forward positions after a seven-month pause, while infusing rupee liquidity through open market operations (OMOs) to neutralize the liquidity drain. This strategic move coincides with a weakening dollar and stable rupee, allowing the central bank to simultaneously build foreign exchange reserves and maintain surplus banking liquidity.

Key Developments

Short Dollar Forward Position Decline

• Net short dollar forward book (up to 1 year):
  ↓ to $64.2 billion in March 2025 from $88.75 billion in February.
• Including long-term swaps:
  ↓ to $84.3 billion from $88.75 billion.
• Positions are largely in short-term tenors, indicating natural maturity rather than rollovers.

Sterilization via OMOs

• RBI is infusing rupee liquidity through OMOs to offset the drain caused by maturing short dollar positions.
• Despite surplus liquidity, the RBI has conducted OMO purchases worth ₹2.5 trillion in 2025 so far.
• Strategy aligns with RBI’s accommodative stance to ensure banking system liquidity remains ample.

Foreign Exchange Reserve Management

RBI Builds Reserves Amid Dollar Weakness

• RBI is buying dollars in the spot market instead of rolling forward positions.
• This helps manage short positions and replenish forex reserves.
• Total forex reserves stood at $688 billion as of April 25, down from the $705 billion peak in September 2024.

Rupee Performance and Market Trends

Rupee Strengthens Against the Dollar

• Rupee appreciated by 4.38% since its all-time low of ₹87.95/$ on Feb 10, 2025.
• Current exchange rate: ₹84.26/$ (May 5), appreciating 29 paise from the previous session.
• YTD appreciation:
• 1.61% in calendar year 2025
• 1.44% in financial year 2025–26

Favorable External Factors

• Falling crude oil prices and weakening dollar index support rupee appreciation.
• Strengthening of Asian emerging market currencies adds to positive sentiment.

The RBI’s current strategy reflects a dynamic and proactive approach to managing foreign exchange exposure and banking system liquidity. By allowing short positions to mature, purchasing spot dollars, and sterilizing liquidity through OMOs, the central bank is reinforcing its accommodative stance while bolstering forex reserves amid a stable external environment.

BS

4. SBI Research Forecasts Up to 125 bps Rate Cuts by RBI

Context:

SBI Research predicts that the Reserve Bank of India (RBI) may cut policy rates by up to 125 basis points in FY26, following a multi-year low inflation reading of 3.34% in March. This forecast is based on expectations of continued benign inflation and the need for accommodative monetary policy.

Key Forecasts and Rationale

Policy Rate Cut Expectations

• Total projected rate cuts in FY26: 125 bps
  • 75 bps in H1FY26 (June and August policy reviews)
  • 50 bps in H2FY26
• Current repo rate: 6.25% (after a cumulative 50 bps cut in February and April 2025)
• Possibility of the repo rate falling below the neutral rate by March 2026
• Larger 50 bps cuts are expected to be more effective than smaller 25 bps cuts spread over time

Inflation Outlook

• March CPI inflation: 3.34%, marking a multi-year low
• Domestic inflation is expected to converge toward the RBI’s 4% target, supporting the likelihood of further rate cuts

Liquidity Management and Open Market Operations (OMOs)

• RBI is expected to conduct ₹1.25 trillion in OMOs in May 2025
• Goal: Maintain a system liquidity surplus of ₹2 trillion, as per the RBI Governor’s guidance
• OMOs are intended to offset:
  • Maturing short-dollar forward positions
  • Volatility from FII outflows
  • Exchange rate pressures faced earlier in 2025

Macroeconomic Implications

• Easing rates could stimulate:
  • Private investment
  • Durable growth
  • Credit offtake, particularly in interest-sensitive sectors
• The RBI’s current strategy aims to:
  • Anchor growth while absorbing external shocks
  • Maintain stability in financial markets

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5. Stricter SEBI Rules Slow SME to Mainboard Migration in 2024–25

Sharp Drop in Migrations

• Only 1 SME has migrated to the mainboard in 2025 (as of May 5)
• 12 firms migrated in 2024, down from an average of ~50 annually (2020–2022)

Key Regulatory Changes

• SEBI revised migration norms in its December 2024 board meeting
• New framework notified in March 2025
• NSE introduced stricter eligibility norms in April 2025

Revised Eligibility Criteria

• Minimum revenue of ₹100 crore in the previous financial year
• Positive operating profit in at least 2 of the past 3 years
• Promoters must retain at least 50% of their initial stake post-listing
• Firms must meet enhanced corporate governance standards including no regulatory violations or defaults

Widened Transition Timelines

• Average migration time now ~5 years in 2024 versus under 2 years in 2019
• Rule now mandates a minimum 3-year gap between SME listing and mainboard migration

Impact on SMEs

• Many SMEs disqualified despite being high-growth or well-run
• Elevated thresholds and compliance burden cited by legal experts as key obstacles
• Some analysts believe regulatory clarity may encourage better-prepared firms to pursue migration

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6. RBI Slows Gold Repatriation Amid Rising Share in Forex Reserves

Minimal Gold Repatriation in H2 FY25

• RBI brought back only 1.53 tonnes of gold from overseas vaults between September 2024 and March 2025
• In contrast, 102.1 tonnes were repatriated in the first half of FY25
• The slowdown marks a strategic shift in gold repatriation pace

Current Composition of RBI’s Gold Holdings

• Total gold reserves as of March-end 2025: 879.6 metric tonnes
  • 512 tonnes held domestically
  • 348.6 tonnes held with Bank of England and BIS
  • 18.9 tonnes in the form of gold deposits
• Share of gold in total forex reserves rose to 11.70% from 9.32% over the second half of FY25

Gold as a Hedge and Diversification Tool

• Gold acts as a hedge against inflation, currency volatility, and geopolitical risks
• RBI, like other central banks, has increased gold holdings post-Russia-Ukraine war and Covid disruptions
• Repatriation of gold had picked up after February 2022 to enhance physical custody and security

Breakup of Foreign Currency Assets (as of March-end 2025)

• Total forex assets: $567.56 billion
  • $485.53 billion in securities
  • $45.68 billion with other central banks and BIS
  • $36.34 billion with overseas commercial banks
• RBI is also employing external asset managers for a small portion of reserves to diversify investments

TET

7. SEBI Probes Mahadev Betting App Firms for FPI Violations and Stock Manipulation

Context:

SEBI has initiated a formal investigation into firms linked to the Mahadev Betting App case.

• Allegations include:
  • Stock price manipulation
  • Routing of illegal betting proceeds into Indian stock markets via FPIs
• Funds were reportedly routed from overseas, specifically via FPIs based in Dubai and Mauritius.

Link with Ongoing Enforcement Directorate (ED) Investigation

• The ED is probing money laundering by Mahadev Online Book promoters who allegedly:
  • Operated benami bank accounts offshore
  • Laundered betting proceeds and reinvested them into Indian markets
• ED has frozen assets and cash worth over ₹573 crore, and seized ₹3.29 crore in cash.
• These proceeds were invested in the promoters’ own companies through:
  • Preferential share issues
  • Promoter-controlled share sales
  • Issuance of share warrants

Market Manipulation Allegations

• Evidence suggests a collusion between company promoters and accused individuals.
• They allegedly inflated company valuations using “tainted money” and manipulated stock prices with the help of agents and intermediaries.

Scale of Action Taken So Far

• Over 170 searches conducted by ED
• Assets worth ₹3,002.47 crore attached
• 13 arrests made and 74 entities named in five prosecution complaints

Next Steps and Regulatory Implications

• If SEBI’s probe confirms breach of FPI regulations, strict enforcement actions are expected against:
  • Involved companies
  • Promoters and directors
  • FPI intermediaries aiding the routing of illicit funds

BL

8. ₹600 Crore Discrepancy in IndusInd Bank’s Microfinance Accounting Triggers Audit Probe

Context:

Statutory auditors flagged a ₹600 crore discrepancy after reviewing IndusInd Bank’s microfinance income.

• Auditors discovered:
  • Interest income was grouped together for multiple loans.
  • Entries lacked borrower-level detail, despite varying interest rates.
  • This method contradicts standard accounting practices where each borrower’s account must be individually recorded.

Regulatory Scrutiny and RBI Involvement

• The Reserve Bank of India (RBI) has reportedly asked the bank to resolve the irregularities.
• RBI had previously flagged issues in another matter—a ₹1,959 crore derivatives misstatement, leading to top-level exits.

Leadership Crisis at IndusInd Bank

• The bank is undergoing a leadership transition:
• Deputy CEO Arun Khurana resigned after a Grant Thornton report on the derivatives issue.
• CEO Sumant Kathpalia also stepped down shortly after.
• The misreporting has shaken confidence in the bank’s internal controls and audit oversight.

Background on Microfinance Exposure

• Microfinance constitutes 9% of IndusInd Bank’s loan book.
• Portfolio size: ₹32,564 crore as of 31 December 2024
• Average loan per borrower in Q3 FY25: ₹42,274
• The bank acquired Bharat Financial Inclusion Ltd (formerly SKS Microfinance) in 2019, now a wholly owned subsidiary.

Audit Concerns and Industry Implications

• Experts from ICAI and banking sectors have raised concerns:
• Lapses in borrower-level income recognition should have triggered red flags much earlier.
• Bunching interest income contradicts norms where each loan is tracked individually for repayment, NPA classification, and interest accounting.
• There are growing calls for:
• Stricter auditing standards
• Increased oversight by regulators like RBI and ICAI

Mint

9. MSEI’s Revival Faces Hurdle as SEBI Plans to Cap Derivative Expiries to Two Days

Background

• Metropolitan Stock Exchange of India (MSEI), formerly MCX-SX, had planned a comeback in the Indian capital markets by launching derivatives on its flagship SX40 index.
• The exchange raised ₹238 crore in December 2024 from key fintech investors like Groww’s parent (Billionbrains), Zerodha’s Rainmatter, Share India Securities, and Securocorp Securities.
• MSEI’s strategy hinged on having a Friday expiry for its SX40 derivatives to differentiate from NSE (Thursday) and BSE (Tuesday).

SEBI’s Proposed Derivatives Cap

• On 27 March 2025, SEBI released a consultation paper proposing:
  • All index derivative expiries must be limited to Tuesdays or Thursdays.
  • Aim: To ensure optimal spacing and reduce concentration risk.
• This move undermines MSEI’s revival strategy, as its Friday expiry may no longer be permitted.
• Without a distinct expiry day, MSEI’s derivative offerings lose competitive value.

Market Impact and Liquidity Challenge

• As of 5 May:
  • MSEI’s daily trading volume was just 30,950, compared to NSE’s ₹293.72 crore and BSE’s ₹58.59 crore in cash market volumes.
  • SX40 futures contracts registered zero trading volume, while Nifty 50 futures on NSE recorded 76,211 contracts.
• Experts warn traders will migrate to exchanges with higher liquidity and better price discovery, further marginalizing MSEI.

Institutional Support & Governance Efforts

• Latika Kundu, MD & CEO of MSEI, emphasized:
  • Reviving MSEI supports capital market competition vital for India’s goal of becoming a developed nation.
  • A duopoly or monopoly could emerge without exclusive expiry days for emerging exchanges.
• MSEI has begun upgrading its technology and infrastructure to support seamless derivative trading.

Operational and Licensing Hurdles

• Limited broker participation is stalling volume growth:
  • Many brokers do not yet offer MSEI’s contracts due to licensing or technical issues.
  • Customer engagement—including placing trades, paying premiums, and settling contracts—remains low.

Mint

10. Aditya Birla Capital Digital Launches Digital Gold SIP

Product Overview:

• Company: Aditya Birla Capital Digital Ltd (ABCDL)
• Product: Digital Gold Systematic Investment Plan (SIP)
• App: Available on ABCD Mobile App
• Investment Options:
• ₹50 for weekly SIPs
• ₹100 for monthly SIPs

Key Features:

• Automated & Regular Investments: Helps users invest consistently and leverage rupee-cost averaging and compounding.
• 24-Karat Gold-Backed: Gold is stored in insured, secure vaults managed by MMTC-PAMP (JV between Swiss brand PAMP & MMTC, GoI undertaking).
• Integrated Gifting + SIP Options: Enables planning, saving, and gifting gold through one platform.
• No Physical Storage Hassles: Eliminates risks of loss, theft, and making charges linked with physical gold.

Additional Offering – Digital Silver:

• Also backed by 24-Karat physical silver.
• Flexible features: Buy, hold, redeem anytime.
• Silver as a future-ready asset: Growing demand in EVs, solar energy, and technology sectors.

Key Executive:

• Pankaj Gadgil, MD & CEO, Aditya Birla Housing Finance Ltd

11. RBI Grants Online Payment Aggregator License to Zaakpay (MobiKwik)

Context:

Zaakpay, the business payments arm of MobiKwik, has received final RBI approval to operate as a licensed Online Payment Aggregator in India. This approval allows Zaakpay to legally process digital payments for businesses under Indian law.

Why This Approval Matters

Regulatory Significance:

• The RBI license certifies strong compliance, data security, and operational transparency.
• Comes amid RBI’s crackdown on unlicensed payment aggregators who were barred from onboarding new merchants.

Strategic Impact for MobiKwik

• Enables Zaakpay to scale legally and securely, targeting more partnerships and expanding digital services.
• Boosts market credibility and merchant confidence in MobiKwik’s B2B payment ecosystem.

What Zaakpay Offers

Payment Services:

• Supports over 100 payment methods:
  • UPI, credit/debit cards, net banking, wallets, EMI
• Features:
  • Fast checkout, QR payments, instant daily settlements

Key Partnerships:

• Meta (WhatsApp-based payments) in healthcare and transport (2024)
• Offers credit/debit EMI for greater payment flexibility

Market Reaction & Share Performance

Share Movement:

• MobiKwik shares fell 0.99% to ₹249.95 on May 2, 2025 (previous close: ₹252.60)
• Drop attributed to broader market correction, not the license news

Future Growth Plans for Zaakpay

Business Expansion Focus:

• SaaS, healthcare, logistics, Tier-2/3 cities
• Invests in AI-led fraud checks, real-time settlements, and custom checkout solutions

Long-Term Outlook:

• Poised to become a core growth engine for MobiKwik’s enterprise vertical
• Improved services and compliance may restore investor confidence

Agriculture

1. Coalition for GM-Free India Opposes Genome-Edited Paddy Varieties

Context:

Coalition for GM-free India demands withdrawal of two genome-edited rice varieties announced by the Centre. The group is currently fighting a Supreme Court case against genetically modified (GM) crops

Health and Environmental Concerns

• Coalition warns that genome-edited seeds may harm human health and cause irreversible environmental damage
• Cites an “enormous body of scientific literature” questioning the safety of gene editing techniques

Criticism of Government and Research Bodies

• Venugopal Badaravada, ICAR governing body member, criticizes focus on “science for headlines” over practical farm solutions
• Accuses the Centre of acting “under corporate lobby pressure” and bypassing scientific safety norms

Regulatory Allegations

• The coalition calls the announcement illegal, citing deregulation of SDN-1 and SDN-2 gene editing techniques without safety tests
• Claims varieties are being promoted using unscientific claims of higher yield and drought resistance without valid testing

Details of Released Varieties

• Kamala (DRR Dhan 100) developed by Indian Institute of Rice Research, Hyderabad
• Pusa DST Rice 1 developed by Indian Agricultural Research Institute, Delhi

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Facts To Remember

1. Namo Bharat Stations Integrated with Electric City Buses for Last-Mile Connectivity

 To enhance last-mile connectivity and provide smoother travel for Namo Bharat commuters, the National Capital Region Transport Corporation (NCRTC) has collaborated with the Delhi Transport Corporation (DTC) to integrate air-conditioned electric city buses with the Namo Bharat stations.

2. India well-positioned to meet global talent demand: EAM Jaishankar

External Affairs Minister Dr S Jaishankar has said that there is a strong global demand for talent and India is well-positioned to meet it.

3. Maldives to build $8.8 billion Financial Freezone in Malé to become Indian Ocean business hub by 2030

The Maldives has announced plans to build an $8.8 billion Maldives International Financial Centre (MIFC) in Malé, in partnership with Qatari-owned MBS Global Investments. 

4. India to explore both space & deep sea in 2026 says Union Minister Dr. Jiterandra Singh

Minister of State for Space and Atomic Energy Dr. Jitendra Singh said that the Naval Forces and Naval Guards will play a vital role in ensuring the success of the Gaganyaan mission. 

5. World Asthma Day being observed to raise awareness, promote accessible inhaled treatments

World Asthma Day is being observed today. Organised by the Global Initiative for Asthma, it is globally observed on the first Tuesday of May. The theme for this year is “Make Inhaled Treatments Accessible for ALL”.The day aims to raise awareness about asthma and the importance of properly managing this chronic respiratory condition. It also emphasises educating the general public about the disease and its impact on daily life.

6. Archery World Cup 2025: Jyothi Surekha Vennam eyes encore; Deepika Kumari in fray

Top-ranked Indian women archers, Jyothi Surekha Vennam and Deepika Kumari, will lead the country’s challenge at the Archery World Cup 2025 Stage 2 in Shanghai, China, starting today.