Daily Current Affairs Quiz
7 October, 2025
National Affairs
1. NCRB Data on Crimes Against Children 2023
Source: TH
Context:
The National Crime Records Bureau (NCRB) data for 2023 revealed that crimes against children recorded the sharpest increase in Assam, Rajasthan, and Kerala, even as the national average rose by 25%. These trends reflect both policy-driven interventions and improvements in classification and reporting of offences against minors.
National Overview
- Overall crimes against children in India rose by 25% in 2023 compared to the 2018–2022 average.
- However, Assam, Rajasthan, and Kerala saw exceptional increases ranging from 70% to over 100%, each driven by different underlying factors.
State-Wise Highlights
| State | Increase & Key Drivers (2023) | Interpretation |
|---|---|---|
| Assam | Cases nearly doubled (~5,100 → 10,000). Surge driven by strict enforcement of the Prohibition of Child Marriage Act, 2006; child marriage cases rose from ~150/year to 5,267. | Reflects state-led crackdown, not necessarily higher incidence. |
| Rajasthan | Cases up ~70% (~6,200 → 10,500). Driven by reclassification of offences (Section 376 IPC → POCSO provisions) and rise in child kidnapping/abduction. | Rise reflects both better categorisation and a genuine increase in child-related crimes. |
| Kerala | Cases up ~106% (~2,800 → 5,900+). Surge linked to POCSO cases and improved reporting. | Indicates enhanced law enforcement responsiveness and greater social awareness of child protection laws. |
2. Indian Navy Commissions INS Androth
Source: News on Air
Context:
The Indian Navy commissioned INS Androth, the second Anti-Submarine Warfare Shallow Water Craft (ASW-SWC), at the Naval Dockyard in Visakhapatnam. The commissioning marks a step forward in strengthening India’s coastal anti-submarine warfare capabilities.
Key Highlights:
Vessel Details:
- Length: 77 meters | Weight: ~1,500 tonnes
- Built with over 80% indigenous content by Garden Reach Shipbuilders and Engineers (GRSE).
- Designed for anti-submarine operations in coastal and shallow waters.
- Equipped with advanced weapons, sensors, and communication systems.
Capabilities:
- Anti-submarine warfare (primary role)
- Maritime surveillance and coastal defense
- Search and rescue operations
- Low-intensity maritime operations
- Long-duration operations in shallow waters
3. PM Modi to Inaugurate India Mobile Congress (IMC) 2025
Source: PIB
Context:
Prime Minister Shri Narendra Modi to inaugurate Asia’s Premier Telecom & Tech Event IMC 2025
Theme: “Innovate to Transform”—promoting self-reliance and Atmanirbhar Bharat in telecom and digital technologies.
Key Focus Areas:
- 6G ecosystem (via Bharat 6G Alliance)
- Artificial Intelligence and Machine Learning
- Internet of Things (IoT)
- Cybersecurity for 1.2 billion telecom users
- Satellite communication (Satcom)
- Telecom manufacturing
Major Global Summits & Programs:
- International Bharat 6G Symposium – Showcasing India’s 6G leadership.
- International AI Summit – Impact of AI on networks and services.
- Cyber Security Summit – Strengthening digital infrastructure.
- Satcom Summit – Satellite-based communication services.
- IMC Aspire Programme – Networking for 500 startups with 300 investors.
- Global Startup World Cup – India Edition – 15 finalists compete for $1 million investment.
Awards & Recognitions
1. Nobel Prize 2025
Source: TOI
Context:
The 2025 Nobel Prize in Physiology or Medicine has been awarded to Mary Brunkow (USA), Fred Ramsdell (USA), and Shimon Sakaguchi (Japan) for their pioneering discoveries on regulatory T cells (Tregs) and the Foxp3 gene, which govern peripheral immune tolerance. Their work has transformed understanding of autoimmune diseases and opened pathways for therapies in cancer, autoimmunity, and transplantation.
Key Discoveries
- Discovery:
- The trio identified regulatory T cells, which prevent the immune system from attacking the body’s own cells.
- Significance:
- This discovery is critical for understanding autoimmune diseases, cancer, and organ transplantation.
- Opens avenues for new therapies and clinical interventions.
- Individual Contributions:
- Mary E. Brunkow (USA) – Senior Programme Manager, Institute for Systems Biology, Seattle: Co-identified FOXP3 gene, a marker for regulatory T cells.
- Fred Ramsdell (USA) – Scientific Advisor, Sonoma Biotherapeutics, San Francisco: Studied genetic mechanisms of immune regulation.
- Shimon Sakaguchi (Japan) – Distinguished Professor, Osaka University: Discovered CD25+ regulatory T cells and their role in suppressing self-attacking T-cells.
Banking/Finance
1. Private Banks Lag Public Banks in Market Capitalisation
Source: BS
Context:
According to S&P Global Market Intelligence, private sector banks in India underperformed their government-owned counterparts in market capitalisation during July–September 2025, primarily due to trade uncertainties and corporate lending exposure.
Market Capitalization (MCAP)
MCAP stands for Market Capitalization. It is a measure of the total value of a publicly traded company’s outstanding shares in the stock market.
Formula:
Market Capitalization (MCAP)=Current Share Price × Total Number of Outstanding Share
Private Sector Banks Performance:
- HDFC Bank: mcap declined by 4.8%.
- ICICI Bank: mcap declined by 6.7%.
- Kotak Mahindra Bank and Axis Bank: Also posted mcap declines in Q3 FY25.
- IndusInd Bank: Worst performer among top 20 lenders, losing 15.7%, partly due to accounting lapses reported earlier in 2025.
Reason for Underperformance:
- Higher exposure to corporate lending, making them sensitive to global trade shocks.
- Trade tensions, particularly US tariffs of 50% on Indian goods, affected market sentiment and exporter confidence.
Public Sector Banks Performance
- SBI (State Bank of India): mcap gained 10%.
- Bank of Baroda: +3.9%
- Punjab National Bank: +2.1%
- Canara Bank: +8.3%
- Indian Bank: +16.7% (highest among top 20 banks by mcap)
Reason for Outperformance:
- Larger share of retail loans, especially in smaller towns and rural areas, insulated them from global trade shocks.
- Domestic drivers such as agricultural output, favorable monsoon, lower inflation, monetary easing, and GST reforms supported growth.
2. SEBI Launches Validated UPI Handles to Secure Investor Payments
Source: Mint
Context:
The Securities and Exchange Board of India (SEBI) has introduced @valid UPI handles and the SEBI Check tool to help investors ensure payments are made only to SEBI-registered intermediaries, reducing fraud risk in the securities market.
Key Features:
- Unique UPI IDs:
- Every SEBI-registered intermediary (brokers, mutual funds, etc.) will now use a UPI handle ending with @valid.
- Suffixes like .brk (broker) or .mf (mutual fund) indicate the type of intermediary.
- Trust Symbols:
- Payments via @valid handles display a green triangle with a thumbs-up symbol to confirm authenticity.
- QR codes with the same symbol allow investors to verify the entity before making payments.
Significance:
- Provides investors with enhanced security and instant verification of intermediaries.
- Reduces risks of fraudulent fund collection by unregistered entities.
- Ensures transparency and accountability in retail investment payments.
3. Indian Banks to Overhaul Business Correspondent (BC) Network
Source: BS
Context:
India’s Business Correspondent (BC) network, the world’s largest boots-on-the-ground channel with 2.5 million agents, is set for a significant revamp. The network is critical for delivering banking services to rural and remote areas.
Key Developments:
- The overhaul will be guided by findings from the NIBM study, Impact Assessment Study on the Services Rendered by BCs.
- NIBM (National Institute of Bank Management) was established by the RBI in 1969.
Who Are Business Correspondents (BCs)?
Business Correspondents (BCs) are retail agents appointed by banks to provide banking and financial services in areas where it is not viable for banks to open a full-fledged branch.
They act as representatives of banks and facilitate financial inclusion by delivering basic banking services at the doorstep of customers, especially in rural and remote areas.
Functions of Business Correspondents
BCs provide a range of services on behalf of banks, including:
- Opening of Basic Savings Bank Deposit (BSBD) and PMJDY accounts.
- Facilitating cash deposits, withdrawals, and fund transfers.
- Assisting in Aadhaar seeding and e-KYC verification.
- Disbursing government benefits through Direct Benefit Transfers (DBT).
- Selling insurance, pension, and mutual fund products.
- Providing loan applications, recovery support, and credit counseling.
Regulatory Framework
- The Reserve Bank of India (RBI) regulates BC operations under the Financial Inclusion Plan (FIP).
- Banks are fully responsible for the actions of their BCs, including customer protection and grievance redressal.
- BCs must operate using biometric devices and interoperable digital platforms linked to Core Banking Systems (CBS).
Challenges in the Current BC Model:
- Compensation & Viability:
- Existing fixed and variable remuneration models are inadequate.
- Calls for minimum guaranteed commissions, particularly in difficult geographies (North-East, hilly regions, villages <3,000 population).
- Suggestion to link commission structure to CPI for periodic adjustments.
- Proposal for a minimum fixed allowance/incentive of ₹5,000/month, independent of account openings/transactions.
- Operational Challenges:
- High attrition rates among BCs.
- Need for agent certification, skilling, and training.
- Absence of a comprehensive registry and geo-tagging of agents.
- Lack of a structured grievance redressal mechanism.
- Cost-effectiveness of BC operations for banks under review.
Potential Reforms:
- BCs may be allowed to combine government payments with insurance and other financial/non-financial services, expanding their portfolio.
- Shift from periodic physical audits to digital monitoring for efficiency and real-time oversight.
- NIBM study expected to propose policy and operational improvements to strengthen the ecosystem.
4. RBI Allows Banks to Fund Corporate Acquisitions
Source: BS
Context:
The Reserve Bank of India (RBI), on 1 October, proposed allowing banks to finance corporate acquisitions. This is a big change, as banks were previously restricted from this area. The move is expected to make capital cheaper and more available for companies and investors.
Background
- Under the current regulatory framework, banks are barred from financing the acquisition of shares or control in another company.
- The rule was originally introduced to prevent speculative takeovers and limit credit exposure to high-risk acquisition deals.
- With corporate governance and risk management improving, the RBI now seeks to liberalize this area in a controlled manner.
Key Provisions in the Proposal
- Permission for Banks:
- Scheduled commercial banks (excluding RRBs) may be allowed to extend loans for corporate acquisitions, including mergers and buyouts.
- Conditions:
- Financing will be subject to prudential exposure norms, due diligence, and board-approved policies.
- Risk Mitigation:
- The RBI is expected to impose exposure limits, due diligence norms, and long-term funding mandates to address asset-liability mismatches (ALM).
- Eligible Borrowers:
- Indian corporates, private equity-backed firms, or consortiums engaged in M&A activities.
- Purpose:
- To enhance liquidity and make capital more affordable for strategic corporate expansion.
Expected Impact on the Market
- Positive Effects:
- Boost in M&A activity across key sectors such as infrastructure, banking, and manufacturing.
- Greater access to domestic credit, reducing dependence on expensive offshore loans or NBFC financing.
- Encourages corporate consolidation, creating larger and more competitive entities.
- Potential Risks:
- Higher credit concentration risk for banks.
- Risk of over-leveraged buyouts if lending norms are not tightly monitored.
- Possible impact on asset quality, necessitating robust risk assessment.
Regulatory Safeguards
The RBI is expected to enforce:
- Exposure ceilings for such loans.
- Stringent credit appraisals and cash flow-based lending norms.
- Compliance with Basel III capital adequacy requirements.
- Regular monitoring and disclosures to ensure transparency.
5. SEBI Considers Bringing Family Offices Under Regulatory
Source: Mint
Context:
The Securities and Exchange Board of India (SEBI) has started discussions about potentially regulating family offices in India. This comes as family-run conglomerates and billionaires increasingly influence the capital markets through investments in publicly traded securities.
What are Family Offices?
A family office is a private investment and wealth management entity established by ultra-high-net-worth families to manage their assets, investments, taxation, and philanthropy.
- Single-Family Office (SFO): Manages wealth for one family.
- Multi-Family Office (MFO): Offers services to multiple wealthy families, operating more like a financial advisory firm.
Globally, family offices manage trillions of dollars in assets, acting as institutional investors in equity, debt, and alternative asset markets.
Proposed Measures Under Discussion:
- Disclosure Requirements:
- Family offices may need to reveal their entities, assets, and investment returns for the first time.
- Regulatory Framework:
- A separate category for family offices could be created to regulate their investment activities.
- Risk Monitoring:
- SEBI aims to have greater visibility into investments by family offices and the potential risks these pose to the market.
6. India Launches Foreign Currency Settlement System at GIFT IFSC
Source: Mint
Context:
Finance Minister Nirmala Sitharaman inaugurated the foreign currency settlement system at GIFT City International Financial Services Centre (IFSC) during the Global Fintech Fest 2025. The system aims to enable real-time settlement of foreign currency transactions, improve liquidity management, and ensure regulatory compliance.
Key Features
- Real-Time Settlement: Enables instant or same-day settlement of trades and payments in foreign currencies.
- Multicurrency Support: Initially supports USD, GBP, and EUR, with scope to expand to other major currencies.
- Regulated Environment: Operates under the supervision of the International Financial Services Centres Authority (IFSCA).
- Integrated Compliance: Fully compliant with KYC, AML, and FATF global standards.
- Liquidity Management: Improves liquidity for institutions operating in foreign currencies within GIFT City.
- Fintech-Ready: Designed to connect with banks, fintechs, and trading platforms for seamless settlement.
7. Zoho Payments to Launch Physical POS Devices in India
Source: BL
Context:
Zoho Payments, the fintech subsidiary of Chennai-based SaaS major Zoho, is set to expand its offerings by launching physical Point of Sale (POS) devices and sound boxes to enable credit/debit card and QR code-based payments. This move marks a significant step in Zoho’s strategy to deepen its presence in the payments and fintech ecosystem.
Fintech (Financial Technology): Definition, Scope & Importance
Fintech, short for Financial Technology, refers to the use of technology and innovation to improve, automate, and simplify financial services. It integrates software, data analytics, and digital platforms to make banking, investing, payments, and insurance more efficient and accessible. Examples – UPI, PhonePe, Google Pay, Paytm.
In simple terms, fintech makes financial services faster, cheaper, and more user-friendly through digital solutions.
Point of Sale (POS) Devices
A Point of Sale (POS) device is a machine or system used by merchants to accept payments from customers at the time of purchase. It serves as the final touchpoint in a sales transaction, allowing payments through credit cards, debit cards, UPI, or mobile wallets instead of cash.
Key Features of POS Devices
- Instant Digital Payment Processing
Enables card or UPI-based transactions within seconds. - Receipts Generation
Prints or sends digital receipts to customers. - Inventory & Billing Management
Advanced POS systems integrate with software to manage stock and sales. - Data Recording
Stores transaction data for accounting and analytics. - Connectivity
Works via internet, Wi-Fi, or SIM-based network for portability.
8. RBI Slaps Penalties on American Express and HDB Financial Services
Source: ET
Context:
The Reserve Bank of India (RBI) has imposed monetary penalties on American Express Banking Corp and HDB Financial Services Ltd for violating regulatory guidelines. The action was taken after statutory inspections and supervisory evaluations revealed instances of non-compliance.
Key Highlights:
- American Express Banking Corp:
- Penalty: ₹31.80 lakh
- Violation: Non-compliance with the RBI’s Credit Card and Debit Card – Issuance and Conduct Directions.
- Issue: Failed to promptly reverse credit balances to customers’ accounts arising from refunds or failed/reversed transactions.
- HDB Financial Services Ltd:
- Penalty: ₹4.2 lakh
- Violation: Breach of RBI’s Know Your Customer (KYC) Directions, 2016.
- Issue: Failed to obtain mandatory PAN or Form 60 for certain loan accounts.
- RBI clarified that these penalties relate to regulatory non-compliance and do not impact the validity of customer transactions or agreements.
RBI Norms Involved
- Credit Card and Debit Card – Issuance and Conduct Directions, 2022
- Mandates timely refund/reversal of failed transactions and transparent customer communication.
- Know Your Customer (KYC) Directions, 2016
- Requires verified identification, including PAN or equivalent documentation, before granting loans or opening accounts.
- Penalty Framework under Banking Regulation Act, 1949
- RBI can impose monetary penalties after inspection and due process (including show-cause notice and response evaluation).
9. Bandhan Bank Integrates with Bharat Connect for Digital EMI Repayment
Context:
Bandhan Bank has partnered with Bharat Connect, the digital payments platform of NPCI Bharat BillPay Ltd. (NBBL), to streamline EMI repayments for its loan customers. This move aims to strengthen the bank’s digital-first approach and promote financial inclusion across India.
Key Highlights:
- Digital Channels: Customers can repay through:
- Bandhan Bank Mobile App (mBandhan)
- Retail Internet Banking (RIB)
- 700+ apps and websites connected via Bharat Connect.
- Integration Benefits:
- Reduces missed payments and delays.
- Provides a smooth, repeatable, and user-friendly process.
- Strengthens Bandhan Bank’s digital ecosystem.
- Financial Inclusion: The collaboration leverages Bharat Connect’s 5 million offline agents nationwide, improving accessibility to digital repayment channels.
Agriculture
1. Mission for Atmanirbharta in Pulses
Context:
The Union Cabinet approved a ₹ 11,440 crore Mission for Atmanirbharta in Pulses, aimed at boosting domestic pulse production, reducing import reliance, and strengthening India’s food security, nutrition, and environmental sustainability.
Pulses are central to the Indian diet, providing protein and micronutrients, but India remains dependent on imports:
- 2024-25 imports: 7.3 million tonnes (mt), worth $5.5 billion, surpassing the 2016–17 record of 6.6 mt.
- Projected demand-supply gap: 15.7 mt by 2030, narrowing to 4.5 mt by 2047 (NITI Aayog report).
Challenges in Pulse Production
- Low productivity: India produces 27.4% of global pulses but has the lowest yield among top 10 producers, at 0.74 t/ha—less than half of Ethiopia or Canada.
- Cultivation constraints: Pulses are grown on marginal lands with limited irrigation and fertilizer use.
- Limited acreage: Large areas, such as rice-fallow lands, remain underutilized.
- Post-harvest losses: Storage challenges lead to 5–7% losses, affecting availability and price stability.
Mission Interventions (2025–26 to 2030–31)
- Seed and Variety Development
- Distribute 12.6 million quintals of certified seeds.
- Provide 8.8 million free seed kits to farmers.
- Promote climate-resilient and high-yield varieties.
- Expansion of Cultivable Area
- Add 3.5 million hectares, mainly rice-fallow lands.
- Encourage intercropping pulses with sugarcane in Maharashtra and Uttar Pradesh.
- Using just one-third of rice-fallow lands in 10 states could increase output by 2.85 mt.
- Minimum Support Price (MSP) and Procurement
- Assured procurement of tur (pigeon pea), urad (black gram), and masoor (lentil) at MSP for four years.
- Incentivises farmers to diversify from water-intensive crops like paddy.
- Post-Harvest Management and Value Addition
- Set up 1,000 processing and packaging units with subsidies up to ₹ 25 lakh per unit.
- Reduce storage losses, add value, and stabilise prices.
- Institutional Support
- Strengthen Farmer Producer Organisations (FPOs).
- Promote mechanisation, soil health interventions, and biofertilisers.
- Provide adequate credit facilities and technical support.
Benefits
- Enhances domestic pulse production, reducing import dependence.
- Improves farmer income and incentivises crop diversification.
- Promotes sustainable agriculture: pulses fix nitrogen in soil, require less water, and reduce reliance on chemical fertilizers.
- Supports nutrition security, particularly in protein-deficient diets.
Facts to Remember
1. Jilly Cooper, British best-selling author of racy romance, dies at 88
British author Jilly Cooper known for her chronicles of class and sex in risqué novels, including Rivals and Riders, has died, her agent and family.
2. Samson is official ambassador for Premier League in India
Indian cricketer Sanju Samson has been appointed as the official ambassador for the Premier League in India. He met former England striker Michael Owen during a Premier League fan engagement event in Mumbai.
3. Triple delight for Pramod Bhagat
Ace Indian para shuttler Pramod Bhagat clinched three titles at the first Abia para badminton international tournament in Abia, Nigeria recently.
4. Global Fintech Fest 2025
The 6th edition of Global Fintech Fest (GFF) will begin in Mumbai today. Union Finance Minister Nirmala Sitharaman will participate in the inaugural session of the festival. ‘Empowering Finance for a Better World Powered by AI’ is the theme for this year’s festival.
5. Power Minister Manohar Lal to attend G20 Energy meet in South Africa
Power Minister Manohar Lal will participate in the G20 Energy Transitions Ministerial meeting to be held in KwaZulu-Natal Province in South Africa. According to the Ministry of Power, the meeting is being organised under the South African G20 presidency.
6. Silver Jubilee Edition of FICCI FRAMES Inaugurated in Mumbai
Speaking at the inauguration, Mr Jaju highlighted the remarkable growth of the media and entertainment industry over the past 25 years. He said the industry has grown tenfold from 25 thousand crore rupees to two lakh 50 thousand crore rupees.
7. Maharishi Valmiki’s Teachings Will Continue to Illuminate Generations: PM Modi
Valmiki Jayanti is being celebrated in different parts of the country today. The day marks the birth anniversary of Maharishi Valmiki, the author of Ramayana. Maharishi Valmiki is also revered as the ‘Adi Kavi’ or first poet of the Sanskrit language.
8. Election Commission to Conduct Pan-India Special Intensive Revision of Voter Rolls
Chief Election Commissioner Gyanesh Kumar has said that the Election Commission has already decided to conduct a Special Intensive Revision (SIR) exercise throughout the country.
