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Daily Current Affairs
7 August, 2025
1. Which act does the Carriage of Goods by Sea Bill, 2025 replace?
A. Merchant Shipping Act, 1958
B. Carriage of Goods by Sea Act, 1925
C. Indian Ports Act, 1908
D. Indian Merchant Act, 1912
E. Marine Insurance Act, 1963
Answer: B. Carriage of Goods by Sea Act, 1925
Explanation: The Carriage of Goods by Sea Bill, 2025 repeals the colonial-era Carriage of Goods by Sea Act, 1925, modernizing India’s maritime trade laws in line with international conventions.
2. The Hague–Visby Rules, adopted under the Carriage of Goods by Sea Bill, 2025, relate to which of the following?
A. Crew training and welfare
B. Ship registration rules
C. Bills of lading and carrier liability
D. Port tariff standardization
E. Fishing vessel safety norms
Answer: C. Bills of lading and carrier liability
Explanation: The Hague–Visby Rules are international conventions standardizing bills of lading and clearly defining carrier obligations and liabilities in the carriage of goods by sea.
3. Under the SIGHT Scheme, Green Ammonia achieved a record-low price of:
A. ₹75.55/kg
B. ₹55.75/kg
C. ₹50.25/kg
D. ₹45.15/kg
E. ₹65.10/kg
Answer: B. ₹55.75/kg
Explanation: In the first SECI auction under Mode-2A of the SIGHT Scheme, India achieved a record-low Green Ammonia price of ₹55.75/kg, supporting the National Green Hydrogen Mission’s goals.
4. Which Bill passed in 2024 simplifies India’s maritime law by reducing 561 sections to 16 parts and 325 clauses?
A. Indian Ports Bill, 2024
B. Merchant Shipping Bill, 2024
C. Carriage of Goods by Sea Bill, 2024
D. Marine Safety Bill, 2024
E. Maritime Governance Bill, 2024
Answer: B. Merchant Shipping Bill, 2024
Explanation: The Merchant Shipping Bill, 2024 modernizes India’s maritime law, replacing the Merchant Shipping Act, 1958, with a simpler and globally aligned framework.
5. The RBI’s current repo rate (as of August 2025) is:
A. 5.0%
B. 5.25%
C. 5.5%
D. 6.0%
E. 6.25%
Answer: C. 5.5%
Explanation: The RBI’s Monetary Policy Committee maintained the repo rate at 5.5% in August 2025, despite low inflation, to ensure economic stability amid global uncertainties.
6. WACR, retained by RBI as the operational target for monetary policy, stands for:
A. Weighted Annual Credit Rate
B. Weighted Average Call Rate
C. Wholesale Asset Credit Ratio
D. Weighted Average Cash Reserve
E. Wholesale Average Collateral Rate
Answer: B. Weighted Average Call Rate
Explanation: WACR is the average interest rate at which banks borrow from each other overnight in the unsecured market, reflecting RBI’s liquidity stance accurately.
7. Which RBI platform now offers a SIP facility for Treasury Bills?
A. Bharat BillPay
B. UPI Lite
C. Retail Direct
D. e-Kuber
E. DigiInvest
Answer: C. Retail Direct
Explanation: RBI’s Retail Direct platform now allows systematic investment in T-bills, enabling retail investors to invest fixed amounts periodically, similar to mutual fund SIPs.
8. As per RBI’s revised co-lending norms, what is the minimum loan retention requirement for each regulated entity?
A. 5%
B. 7.5%
C. 10%
D. 12.5%
E. 15%
Answer: C. 10%
Explanation: RBI’s revised framework mandates all regulated entities in co-lending arrangements to retain at least 10% of each loan on their own books to ensure risk sharing.
9. The ‘Lock FD’ feature by Axis Bank is designed to:
A. Prevent premature FD closure digitally
B. Increase FD interest rates
C. Allow loans against FDs instantly
D. Link FDs to UPI
E. Convert FDs to recurring deposits
Answer: A. Prevent premature FD closure digitally
Explanation: Axis Bank’s ‘Lock FD’ adds a security layer preventing premature FD closure through digital channels, requiring physical branch visits for closure to prevent fraud.
10. Punjab’s cooperative banks recently upgraded their Core Banking Solution to:
A. Finacle 5
B. Finacle 7
C. Finacle 8
D. Finacle 9
E. Finacle 10
Answer: E. Finacle 10
Explanation: Punjab became the first state to upgrade cooperative banks from Finacle 7 to Finacle 10, enhancing digital banking speed, security, and rural service delivery.
