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Daily Current Affairs
2 July June, 2025
1. Who launched the RailOne app, and what is its core purpose?
A. PM Narendra Modi – Promote green rail transport
B. Ashwini Vaishnaw – Provide a unified railway services platform
C. Piyush Goyal – Introduce bullet train bookings
D. Indian Railways Board – Introduce AI ticketing
E. CRIS – Enable private train tracking
Answer: B. Ashwini Vaishnaw – Provide a unified railway services platform
Explanation: RailOne was launched on July 2, 2025, by Railway Minister Ashwini Vaishnaw to integrate ticketing, grievance redressal, tracking, and more in one app.
2. What is the total outlay of the Employment-Linked Incentive (ELI) Scheme launched in 2025?
A. ₹55,000 crore
B. ₹72,000 crore
C. ₹99,446 crore
D. ₹1.2 lakh crore
E. ₹80,000 crore
Answer: C. ₹99,446 crore
Explanation: The ELI Scheme has a budget of ₹99,446 crore to promote formal employment, especially in manufacturing.
3. When will RBI’s new project finance provisioning norms come into effect?
A. July 1, 2025
B. October 1, 2025
C. April 1, 2026
D. January 1, 2026
E. December 1, 2025
Answer: B. October 1, 2025
Explanation: RBI’s new norms for project finance provisioning will be effective from October 1, 2025.
4. What is the provisioning requirement for Commercial Real Estate (CRE) projects under RBI’s new norms?
A. 2%
B. 0.5%
C. 1.25%
D. 1%
E. 1.5%
Answer: C. 1.25%
Explanation: The new norms require a 1.25% general provision for CRE loans during the construction phase.
5. Why did Saraswat Bank propose a merger with New India Cooperative Bank (NICB)?
A. To expand branches in rural India
B. To gain FinTech capabilities
C. To rescue NICB from financial distress
D. To partner with RBI
E. To digitize operations
Answer: C. To rescue NICB from financial distress
Explanation: NICB was under restrictions due to negative net worth and fund mismanagement; Saraswat Bank proposed a merger to protect depositors.
6. What section of the Banking Regulation Act governs bank mergers in India?
A. Section 42
B. Section 44A
C. Section 33B
D. Section 12A
E. Section 29
Answer: B. Section 44A
Explanation: Section 44A of the Banking Regulation Act mandates RBI approval and two-thirds shareholder consent for mergers.
7. Which segments are included in RBI’s proposed Financial Conditions Index (FCI)?
A. Insurance, Gold, Housing
B. Money market, G-Secs, Corporate Bonds, Forex, Equity
C. IT, Manufacturing, Real Estate
D. Employment, Exports, Imports
E. FinTech, NBFCs, Crypto
Answer: B. Money market, G-Secs, Corporate Bonds, Forex, Equity
Explanation: RBI’s proposed FCI includes indicators from 5 key financial markets to assess market conditions.
8. What is the purpose of the government’s ‘Co-operative Stack’?
A. Boost Kisan Credit Cards
B. Replace AgriStack
C. Digitize and deliver schemes via PACS
D. Create rural employment
E. Distribute free fertilizers
Answer: C. Digitize and deliver schemes via PACS
Explanation: The Co-operative Stack is a digital platform to connect PACS with government schemes and improve rural service delivery.
9. What regulatory body had previously restricted PACS operations due to transparency concerns?
A. SEBI
B. NABARD
C. RBI
D. TRAI
E. IRDAI
Answer: C. RBI
Explanation: RBI restricted PACS activities earlier due to poor transparency; digitization aims to resolve this.
10. Which technologies are being integrated into the Co-operative Stack?
A. Robotics and Automation
B. AI-based advisories and cloud databases
C. Manual bookkeeping
D. Satellite banking
E. Only SMS-based updates
Answer: B. AI-based advisories and cloud databases
Explanation: The Stack uses AI for weather-based advisories and digital tech for transparency in rural services.
