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Daily Current Affairs
15 March, 2025
1. Which three countries have urged the U.S. to lift sanctions on Iran’s nuclear program?
A) India, Russia, and China
B) China, Russia, and Iran
C) USA, France, and Germany
D) Iran, UAE, and Saudi Arabia
E) Brazil, South Africa, and China
Answer: B) China, Russia, and Iran
Explanation: These three countries have demanded that the U.S. remove sanctions related to Iran’s nuclear program, which was imposed during Donald Trump’s presidency. Iran has refused negotiations under pressure.
2. What major financial strategy is BRICS considering to reduce reliance on the U.S. dollar?
A) Launching a cryptocurrency
B) Developing a gold-backed currency
C) Establishing a unified trade agreement
D) Creating a currency exchange system
E) Introducing a common tariff policy
Answer: D) Creating a currency exchange system
Explanation: BRICS nations are exploring a mechanism to facilitate trade without relying on the U.S. dollar, thereby reducing their dependence on Western financial institutions.
3. What key issue is the Parliamentary Committee highlighting about MGNREGS wages?
A) Need for complete abolition of the scheme
B) Demand for a universal basic income
C) Rising living costs and delayed payments
D) Introducing a performance-based wage system
E) Replacing wages with food and essential commodities
Answer: C) Rising living costs and delayed payments
Explanation: The committee has suggested revising MGNREGS wages due to increasing living costs and recommended a uniform wage structure across states. It also noted significant delays in wage payments, especially in West Bengal.
4. Why is India’s Real-Money Gaming (RMG) sector facing challenges?
A) The government has banned all online games
B) It faces a high 28% GST burden and lacks regulation
C) There is a shortage of skilled developers
D) Most RMG platforms are owned by foreign companies
E) A sudden decline in user engagement
Answer: B) It faces a high 28% GST burden and lacks regulation
Explanation: The Indian RMG sector is struggling due to high taxation and an absence of clear regulations. Offshore gambling sites, which do not adhere to Indian laws, are growing, while domestic firms face heavy taxation.
5. What was the breakthrough discovery of India’s Aditya-L1 Mission?
A) The first photograph of a black hole
B) Detection of an asteroid heading toward Earth
C) Observation of a flareless coronal mass ejection (CME)
D) Discovery of a new planet orbiting the Sun
E) Identification of an unknown radiation belt
Answer: C) Observation of a flareless coronal mass ejection (CME)
Explanation: Aditya-L1’s observation of a CME without an accompanying solar flare has provided new insights into solar activity, improving our understanding of space weather.
6. What concern has been raised regarding the implementation of APAAR ID?
A) It violates international education policies
B) Schools are pressuring students to register despite claims of voluntary enrollment
C) It provides financial benefits only to private schools
D) It is only applicable to urban students
E) It does not store student records digitally
Answer: B) Schools are pressuring students to register despite claims of voluntary enrollment
Explanation: While the government claims APAAR ID is voluntary, reports indicate that schools are coercing students to register, raising privacy and legal concerns.
7. What is the key demand of India’s microfinance sector regarding refinancing?
A) Merging MUDRA Bank with the RBI
B) Converting MUDRA Bank into a dedicated refinancing institution
C) Reducing the interest rate on microfinance loans to 0%
D) Allowing foreign banks to control the microfinance sector
E) Abolishing the need for collateral in microfinance loans
Answer: B) Converting MUDRA Bank into a dedicated refinancing institution
Explanation: The microfinance industry has proposed converting MUDRA Bank into a dedicated refinancing body to support financial stability and loan distribution among MFIs.
8. Why are MSME exporters demanding reforms in e-commerce export regulations?
A) Rising customs duties and import restrictions
B) Manual reconciliation, high compliance costs, and excessive documentation
C) Ban on exports through e-commerce channels
D) Inability to sell digital goods abroad
E) Lack of consumer demand for MSME products
Answer: B) Manual reconciliation, high compliance costs, and excessive documentation
Explanation: MSMEs face difficulties in managing remittances, excessive paperwork, and regulatory complexities, prompting calls for AI-driven reconciliation and standardization of fees.
9. What is the reason behind the recent surge in gold prices above $3,000 per ounce?
A) Increasing gold production in China
B) Central bank gold buying, trade tensions, and expected Fed rate cuts
C) The discovery of large gold reserves in India
D) Declining demand for digital assets like Bitcoin
E) Increase in gold import duties in the U.S.
Answer: B) Central bank gold buying, trade tensions, and expected Fed rate cuts
Explanation: Market uncertainty due to the U.S.-China trade war, central banks (especially China) increasing gold purchases, and potential interest rate cuts by the U.S. Federal Reserve have driven gold prices higher.
10. What is the key reform introduced in the Block Assessment Scheme for Income Tax search cases?
A) A single tax return covering six years plus part-year under investigation
B) A complete waiver of tax penalties for discovered unreported income
C) Mandatory audits for all income tax searches
D) Exemption of income tax for small businesses
E) A limit of three years for reopening tax cases
Answer: A) A single tax return covering six years plus part-year under investigation
Explanation: The new Block Assessment Scheme aims to streamline tax administration by consolidating multiple-year tax filings into one return, reducing compliance burden and speeding up case resolution.
