Daily Current Affairs July 03

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs July 03. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing Daily GK Updates, Current Affairs Questions, and Monthly current affairs pdf.

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July 03 | Daily Current Affairs 2025

Important Days – Daily Current Affairs July 03

1. When is International Plastic Bag Free Day celebrated annually?
A) June 5
B) July 1
C) July 3
D) August 15
E) October 2
Answer: C) July 3

Event and Location:

• Event: International Plastic Bag Free Day 2024 observed to promote awareness against plastic pollution
• Location: Global observance
• Date: July 3, 2024

Mandates and Objectives:

• Mandates:
  • Observance of International Plastic Bag Free Day to encourage the reduction of plastic bag usage.
  • Support for the Break Free from Plastic Movement, involving global efforts to eliminate plastic waste.
• Objectives:
  • To raise awareness about the environmental damage caused by plastic bags.
  • To promote the use of eco-friendly alternatives like cotton, jute, hemp, and recycled material bags.
  • To foster sustainable practices through clean-ups, composting, and recycling.

Important Terms Explained:

• Plastic Bag Free Day:
  • A globally recognized day encouraging individuals and communities to avoid plastic bags and adopt sustainable habits to protect the environment.
• Break Free from Plastic Movement:
  • An international alliance of nearly 1,500 organizations working collectively to end plastic pollution by promoting alternative solutions and policy reforms.
• Great Pacific Garbage Patch:
  • A massive concentration of marine debris, mostly plastic, discovered in 1997 in the Pacific Ocean, symbolizing the scale of global plastic pollution.

Tabular Summary:

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Ranking – Daily Current Affairs July 03

2. Which company became the world’s largest Fixed Wireless Access (FWA) service provider by subscriber base in June 2025?
A) Verizon
B) Bharti Airtel
C) Reliance Jio
D) T-Mobile
E) AT&T
Answer: C) Reliance Jio

Event and Location:

• Event: Reliance Jio becomes world’s largest FWA service provider by subscribers
• Location: India (global milestone achieved)
• Date: June 2025 (based on end-of-month data; reported July 2, 2025)

Mandates and Objectives:

• Mandates: Reliance Jio, led by Mukesh Ambani, surpassed T-Mobile (USA) to become the world’s largest Fixed Wireless Access (FWA) service provider by subscriber base, reaching 6.88 million subscribers in May 2025.
• Objectives: To expand internet access across India using 5G-powered FWA services, dominate the global FWA subscriber market, and lead broadband adoption through wireless last-mile connectivity.

Important Terms Explained:

• Fixed Wireless Access (FWA): A technology that delivers broadband internet via wireless networks to homes and businesses, without the need for fiber or cable-based last-mile connections. It leverages 4G/5G networks to provide high-speed internet.
• FTTx (Fiber to the x): A collective term for broadband networks that use fiber-optic cables to deliver internet access, where “x” refers to home (FTTH), building (FTTB), or curb (FTTC).
• UBR (Unlicensed Band Radio): Wireless transmission using spectrum bands not requiring a license, often used in rural and last-mile broadband deployments.
• TRAI (Telecom Regulatory Authority of India): The Indian regulatory authority responsible for telecom service monitoring, licensing, and market regulation.

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3. Which state has achieved the highest share in rooftop solar installations under the PM Surya Ghar scheme as of July 2025?
A) Maharashtra
B) Madhya Pradesh
C) Kerala
D) Gujarat
E) Rajasthan
Answer: D) Gujarat

Event and Location:

• Event: Gujarat tops rooftop solar installations under PM Surya Ghar Yojana
• Location: Gujarat, India (National-level coverage)
• Date: July 1, 2025

Mandates and Objectives:

• Mandates: Gujarat installed 3.73 lakh rooftop solar systems under the PM Surya Ghar (PMSG) Yojana, achieving a 32% national share.
• Objectives: To promote adoption of solar rooftop systems across residential households in India, reduce electricity costs, and encourage clean energy transition.

Important Terms Explained:

• PM Surya Ghar (PMSG) Yojana: A central government scheme launched in February 2024 to promote residential rooftop solar systems with financial subsidies and easy application processes.
• Conversion Rate: The percentage of approved rooftop solar applications that result in installations; Gujarat achieved 77%, against a national average of 21%.
• Gujarat Urja Vikas Nigam Limited (GUVNL): The state nodal agency responsible for implementing the rooftop solar scheme in Gujarat.

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Banking and Finance – Daily Current Affairs July 03

4. Which tool has the RBI directed banks and financial institutions to integrate for tackling cyber-enabled financial fraud?
A) Cyber Secure Gateway
B) Digital Trust Protocol
C) Financial Fraud Risk Indicator
D) Mobile Verification Engine
E) Cyber Alert Radar
Answer: C) Financial Fraud Risk Indicator

Event and Location:

• Event: RBI directs integration of DoT’s Financial Fraud Risk Indicator (FRI)
• Location: Applicable across India
• Date: June 30, 2025 (directive issued)

Mandates and Objectives:

• Mandates: The Reserve Bank of India (RBI) has issued an advisory instructing all Scheduled Commercial Banks, Co-operative Banks, Small Finance Banks, Payments Banks, and other financial institutions to integrate the Financial Fraud Risk Indicator (FRI) developed by the Department of Telecommunications (DoT).
• Objectives: To strengthen real-time fraud detection and digital security in India’s financial sector by enabling automated data sharing and fraud risk classification of mobile numbers linked to financial transactions.

Important Terms Explained:

• Financial Fraud Risk Indicator (FRI): A risk-based metric developed by DoT to classify mobile numbers into Medium, High, or Very High risk based on associations with financial fraud. It uses data from the National Cybercrime Reporting Portal (NCRP), Chakshu platform, and financial institutions.
• Digital Intelligence Platform: An API-based system for secure data exchange between DoT and financial entities, facilitating real-time collaboration in fraud detection and prevention.
• Mobile Number Revocation List (MNRL): A DoT-published list of deactivated numbers linked to cybercrime or identity misuse, aiding institutions in identifying fraudulent users.

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5. From which date will the RBI’s new “Pre-payment Charges on Loans” Directions, 2025 be applicable?
A) October 9, 2024
B) January 1, 2025
C) July 2, 2025
D) January 1, 2026
E) April 1, 2026
Answer: D) January 1, 2026

Event and Location:

• Event: Release of RBI’s Pre-payment Charges on Loans Directions, 2025
• Location: Pan-India (issued from RBI Headquarters, Mumbai)
• Date: July 2, 2025 (Notification date; applicable from January 1, 2026)

Mandates and Objectives:

• Mandates: The Reserve Bank of India (RBI) has issued new regulatory directions prohibiting the levy of pre-payment charges on floating rate loans to individuals and Micro and Small Enterprises (MSEs) across various regulated entities (REs).
• Objectives: To ensure easy and affordable credit, eliminate restrictive lending practices, and allow borrowers greater freedom to switch lenders or prepay loans without financial penalty, thereby enhancing customer protection and financial inclusion.

Important Terms Explained:

• Floating Rate Loans: Loans where the interest rate varies during the loan tenure based on market-linked benchmarks such as repo rate or MCLR.
• Pre-payment Charges: Penalties imposed by lenders when a borrower repays a loan ahead of the agreed schedule, now prohibited under specified conditions.
• Micro and Small Enterprises (MSEs): As per the MSMED Act, 2006, micro enterprises have investment up to ₹1 crore and turnover up to ₹5 crore; small enterprises have investment up to ₹10 crore and turnover up to ₹50 crore.
• Regulated Entities (REs): Include Commercial Banks (excluding Payments Banks), NBFCs, Co-operative Banks, and All India Financial Institutions governed by the RBI.

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6. What is the effective date for the RBI’s new directions on Due Diligence of AePS Touchpoint Operators?
A) July 1, 2025
B) August 15, 2025
C) January 1, 2026
D) February 1, 2026
E) March 31, 2026
Answer: C) January 1, 2026

Event and Location:

• Event: RBI issues due diligence guidelines for AePS touchpoint operators
• Location: India (All Scheduled Commercial and Cooperative Banks)
• Date: June 27, 2025

Mandates and Objectives:

• Mandates:
  • RBI mandates acquiring banks to conduct KYC-based due diligence of AePS Touchpoint Operators (ATOs) before onboarding.
  • Operators must undergo periodic KYC updates and monitoring.
  • Dormant ATOs (inactive for 3 months) must complete fresh KYC before resuming operations.
• Objectives:
  • Enhance safety and trust in the Aadhaar Enabled Payment System (AePS).
  • Prevent identity fraud and credential compromise in financial transactions.
  • Strengthen fraud risk management through monitoring and controls.

Important Terms Explained:

• Aadhaar Enabled Payment System (AePS):
  • A digital payment system using Aadhaar number and biometric or OTP authentication to provide services like cash withdrawal, deposit, transfer, and balance enquiry.
• AePS Touchpoint Operator (ATO):
  • An individual onboarded by an acquiring bank who operates AePS terminals (fixed or mobile) to facilitate customer transactions.
• Acquiring Bank:
  • The bank responsible for onboarding AePS touchpoint operators and ensuring compliance with RBI’s due diligence norms.

Tabular Summary:

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Business and Economy – Daily Current Affairs July 03

7. What is the revised Cost Inflation Index (CII) for the financial year 2025–26 as notified by the CBDT?
A) 369
B) 363
C) 376
D) 382
E) 360
Answer: C) 376

Event and Location:

• Event: CBDT revises Cost Inflation Index (CII) for FY26
• Location: India (nationwide applicability)
• Date: July 1, 2025 (notification issued)

Mandates and Objectives:

• Mandates: The Central Board of Direct Taxes (CBDT) has notified a Cost Inflation Index (CII) of 376 for Financial Year 2025–26 (FY26), up from 363 in the previous year.
• Objectives: To adjust the purchase price of assets for inflation when calculating long-term capital gains (LTCG), thereby ensuring that taxpayers are taxed only on real gains and not inflation-driven price increases.

Important Terms Explained:

• Cost Inflation Index (CII): A yearly index published by the CBDT to account for inflation in the calculation of long-term capital gains, especially for assets like real estate, gold, intellectual property, and securities.
• Long-Term Capital Gains (LTCG): The profit from the sale of a capital asset held for more than a specified period (usually 24 or 36 months), taxed with or without indexation depending on the nature of the asset and applicable rules.
• Grandfathering Provision: A clause allowing resident individuals and Hindu Undivided Families (HUFs) to continue using indexation for assets acquired before July 23, 2024, even after the benefit has been restricted for new assets under the Finance Act 2024.

Tabular Summary:

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8. Which fintech company launched India’s first UPI-powered physical bank branch in Bengaluru in July 2025?
A) PhonePe
B) Jupiter
C) slice
D) Paytm
E) KreditBee
Answer: C) slice

Event and Location:

• Event: Launch of first UPI-powered physical bank branch by slice
• Location: Koramangala, Bengaluru, Karnataka
• Date: July 2, 2025

Mandates and Objectives:

• Mandates: Fintech company slice has launched its first UPI-powered physical bank branch and ATM in Bengaluru, along with a slice UPI credit card.
• Objectives: To democratize formal credit access, deliver seamless UPI-based credit experiences, and integrate UPI infrastructure into physical banking services including cash withdrawals, deposits, and customer onboarding.

Important Terms Explained:

• slice UPI Credit Card: A credit card with no joining or annual fee, allowing users to transact via UPI while accessing credit limits, with features like 3% cashback and “slice in 3” interest-free EMIs.
• UPI ATM: An ATM integrated with Unified Payments Interface (UPI) allowing cash deposits and withdrawals directly linked to UPI apps, thereby reducing reliance on traditional debit cards.
• slice in 3: A spend management feature allowing customers to instantly convert their expenses into three interest-free instalments, promoting affordability and responsible credit usage.

Tabular Summary:

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9. What was India’s total external debt as of end-March 2025?
A) USD 668.8 billion
B) USD 601.9 billion
C) USD 736.3 billion
D) USD 700.0 billion
E) USD 810.5 billion
Answer: C) USD 736.3 billion

Event and Location:

• Event: India’s External Debt Reaches USD 736.3 Billion
• Location: India (National)
• Date: June 27, 2025 (reporting date); Data as of March 31, 2025

Mandates and Objectives:

• Mandates:
  • The Reserve Bank of India released detailed data on India’s external debt as of March 31, 2025.
  • This includes breakdowns by maturity, sector, currency composition, and instrument type.
• Objectives:
  • To provide transparency and regular updates on India’s external financial liabilities.
  • To inform policy direction and maintain fiscal discipline through accurate debt monitoring.

Important Terms Explained:

• External Debt:
  • The total amount a country owes to foreign creditors, repayable in foreign currency, goods, or services.
• Long-term Debt:
  • Debt with original maturity of more than one year. As of March 2025, this stood at USD 601.9 billion.
• Short-term Debt (Original Maturity):
  • Debt that matures in one year or less. It accounted for USD 134.5 billion of total external debt.
• Debt Service Ratio:
  • Ratio of principal and interest payments to current receipts. It was 6.6% as of March 2025.
• Residual Maturity:
  • Refers to short-term debt plus the portion of long-term debt due within the next 12 months.

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Awards – Daily Current Affairs July 03

10. Which award was conferred on PM Narendra Modi during his visit to Ghana in July 2025?
A) Companion of the Order of the Volta
B) Grand Companion of the Star of Africa
C) Officer of the Order of the Star of Ghana
D) Knight Commander of the National Order
E) Commander of the African Star
Answer: C) Officer of the Order of the Star of Ghana

Event and Location:

• Event: PM Modi conferred with Ghana’s highest civilian honour
• Location: Accra, Ghana
• Date: July 3, 2025

Mandates and Objectives:

• Mandates: Prime Minister Narendra Modi was conferred the Officer of the Order of the Star of Ghana by Ghanaian President John Dramani Mahama during a state visit.
• Objectives: To recognize PM Modi’s distinguished global leadership, deepen India-Ghana diplomatic ties, and enhance cooperation in trade, education, agriculture, healthcare, and digital payments.

Important Terms Explained:

• Officer of the Order of the Star of Ghana: Ghana’s second-highest civilian honour conferred on foreign nationals for their outstanding contributions to Ghana or global cooperation.
• Feed Ghana Programme: A flagship initiative under Ghana’s agriculture modernization agenda aimed at improving food security and employment through enhanced agricultural productivity.
• Bharat UPI: India’s indigenous real-time digital payment system, offered internationally to support financial connectivity and cashless ecosystems abroad.

Tabular Summary:

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Science and Technology – Daily Current Affairs July 03

11. What is the primary benefit of the Axiom4 (Ax04) mission to ISRO as stated in July 2025?
A) Launch of India’s first satellite
B) Creation of a lunar base
C) Inputs for India’s Gaganyaan mission
D) Initiation of Mars colonization
E) Development of reusable rockets
Answer: C) Inputs for India’s Gaganyaan mission

Event and Location:

• Event: Axiom4 mission to ISS to aid ISRO’s Gaganyaan mission
• Location: International Space Station (ISS) / India
• Date: July 3, 2025

Mandates and Objectives:

• Mandates: The Axiom4 mission, with participation from Indian Air Force Group Captain Shubhanshu Shukla, is being used by ISRO to gather inputs relevant to India’s human spaceflight program.
• Objectives: To gain practical knowledge in crew integration, mission safety, telemetry, astronaut training, and ground coordination to enhance the effectiveness of India’s first human spaceflight — Gaganyaan.

Important Terms Explained:

• Axiom4 (Ax04) Mission: A commercial mission to the International Space Station (ISS), operated by Axiom Space, that includes international astronauts and offers experiential learning in space travel and operations.
• Gaganyaan Mission: ISRO’s flagship human spaceflight program aiming to send Indian astronauts into low-Earth orbit. The uncrewed test flight is planned for late 2025 and the crewed mission by 2027.
• ISRO (Indian Space Research Organisation): India’s premier space agency responsible for space exploration, satellite deployment, and launch vehicle development.

Tabular Summary:

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International Affairs – Daily Current Affairs July 03

12. Which country signed a trade deal with the US in July 2025 allowing duty-free access to US goods while imposing tariffs on its own exports?
A) China
B) United Kingdom
C) India
D) Vietnam
E) South Korea
Answer: D) Vietnam

Event and Location:

• Event: US–Vietnam trade deal signed allowing duty-free access for US goods
• Location: Washington, D.C. (United States)
• Date: July 3, 2025

Mandates and Objectives:

• Mandates: President Donald Trump announced a new bilateral trade deal with Vietnam, under which US goods will enter Vietnam duty-free, while Vietnamese exports to the US will face a 20% tariff.
• Objectives: To reduce the US trade deficit with Vietnam, reinforce reciprocal trade policy, and secure favorable trade terms under Trump’s ongoing tariff framework.

Important Terms Explained:

• Duty-Free Access: Refers to the elimination of import tariffs on goods entering a country, making them cheaper and more competitive in the market.
• Reciprocal Tariffs: A trade policy approach where a country imposes equal or greater tariffs on imports from nations that apply high tariffs on its exports.
• Trade Deficit: The economic imbalance that occurs when a country imports more than it exports, often a target of tariff policies aimed at improving domestic manufacturing competitiveness.

Tabular Summary:

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13. Where was the ‘Indian Mango Mania 2025’ festival organized to promote Indian mango exports?
A) Dubai
B) Muscat
C) Doha
D) Abu Dhabi
E) Riyadh
Answer: D) Abu Dhabi

Event and Location:

• Event: Launch of ‘Indian Mango Mania 2025’ to promote Indian mango exports
• Location: Abu Dhabi, UAE (LuLu Hypermarket, Khalidiyah Mall)
• Date: July 3, 2025

Mandates and Objectives:

• Mandates: The Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce & Industry, organized ‘Indian Mango Mania 2025’ in Abu Dhabi in collaboration with the Embassy of India and LuLu Group.
• Objectives: To boost Indian mango exports, showcase premium GI-tagged varieties, strengthen India-UAE agri-trade linkages, and enhance the global visibility of Indian agricultural produce through strategic partnerships and marketing events.

Important Terms Explained:

• APEDA (Agricultural and Processed Food Products Export Development Authority): A statutory body under the Ministry of Commerce & Industry, responsible for the promotion and development of export of agricultural and processed food products.
• GI-Tagged Mangoes: Geographical Indication (GI) tags identify mango varieties unique to a region, such as Banarasi Langda, Dasheri, and Malda, ensuring authenticity and premium market value.
• LuLu Group: A major UAE-based retail group, known for promoting Indian FMCG and agri-products across the Middle East through its hypermarkets and retail chains.

Tabular Summary:

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National Affairs – Daily Current Affairs July 03

14. What is the name of the advanced flood forecasting system inaugurated by Union Jal Shakti Minister C R Patil in July 2025?
A) SWACHH-WATER
B) FLOOD-GUARD
C) C-FLOOD
D) JAL-RAKSHAK
E) HYDRO-SAFE
Answer: C) C-FLOOD

Event and Location:

• Event: Inauguration of C-FLOOD flood forecasting system
• Location: Shram Shakti Bhawan, New Delhi
• Date: July 3, 2025

Mandates and Objectives:

• Mandates: Union Jal Shakti Minister C. R. Patil inaugurated C-FLOOD, a unified inundation forecasting system developed by CWC, C-DAC, and NRSC to deliver village-level flood forecasts up to 48 hours in advance.
• Objectives: To enhance India’s flood preparedness by providing real-time, high-accuracy flood predictions, and to assist disaster response and planning agencies with reliable hydrological data.

Important Terms Explained:

• C-FLOOD: A web-based, unified inundation forecasting system offering 48-hour flood predictions and inundation maps at the village level. Developed through a collaboration among CWC, C-DAC, and NRSC.
• National Supercomputing Mission (NSM): A flagship initiative jointly implemented by MeitY and DST to promote India’s capabilities in high-performance computing for national applications including weather, flood, and disaster forecasting.
• National Hydrology Project (NHP): A World Bank-aided program under DoWR, RD & GR aimed at improving water resource management through technology and hydrological data systems.

Tabular Summary:

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15. How much financial assistance has the Centre approved for the PM MITRA Textile Park in Virudhunagar, Tamil Nadu?
A) Rs 1,000 crore
B) Rs 1,500 crore
C) Rs 1,900 crore
D) Rs 2,000 crore
E) Rs 2,500 crore
Answer: C) Rs 1,900 crore

Event and Location:

• Event: Centre approves funding for PM MITRA Textile Park
• Location: Virudhunagar, Tamil Nadu
• Date: July 3, 2025

Mandates and Objectives:

• Mandates: The Central government has approved Rs 1,900 crore for developing the PM MITRA Textile Park in Virudhunagar, Tamil Nadu, over 1,052 acres.
• Objectives: To establish a world-class, integrated textile manufacturing hub, promote sustainable infrastructure, attract private investment, and generate large-scale employment in the textile sector.

Important Terms Explained:

• PM MITRA (Mega Integrated Textile Region and Apparel) Park: A flagship scheme by the Ministry of Textiles aimed at setting up integrated textile parks with world-class infrastructure, common facilities, and plug-and-play manufacturing zones.
• Zero Liquid Discharge (ZLD) Common Effluent Treatment Plant: A water treatment system designed to ensure that no industrial wastewater is discharged into the environment, thereby promoting sustainable manufacturing.
• Apparel Export Promotion Council (AEPC): A government-supported body that promotes Indian apparel exports and works closely with the Ministry of Textiles to support industry initiatives like PM MITRA.

Tabular Summary:

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16. What is the new name of NIPCCD as announced by the Ministry of Women and Child Development in July 2025?
A) Rani Laxmi Bai National Institute of Women and Child Empowerment
B) Sarojini Naidu National Centre for Women and Children
C) Savitribai Phule National Institute of Women and Child Development
D) Kasturba Gandhi Women and Child Welfare Institute
E) Indira Gandhi National Women and Child Development Institute
Answer: C) Savitribai Phule National Institute of Women and Child Development

Event and Location:

• Event: NIPCCD renamed to Savitribai Phule National Institute of Women and Child Development
• Location: New Delhi (Headquarters); new Regional Centre in Ranchi, Jharkhand
• Date: July 2, 2025 (announcement), July 4, 2025 (Ranchi centre inauguration)

Mandates and Objectives:

• Mandates: The National Institute of Public Cooperation and Child Development (NIPCCD) has been renamed as the Savitribai Phule National Institute of Women and Child Development. A new Regional Centre is being inaugurated in Ranchi, Jharkhand.
• Objectives: To honour Savitribai Phule’s legacy, decentralize training infrastructure, enhance region-specific capacity building, and support flagship missions like Mission Shakti, Mission Vatsalya, and Poshan 2.0 in Eastern India.

Important Terms Explained:

• Savitribai Phule: One of India’s earliest and most prominent women social reformers, known for her work in women’s education and gender equality.
• Mission Shakti: A government initiative focused on the safety, security, and empowerment of women, integrating schemes like Sambal and Samarthya.
• Mission Vatsalya: A centrally sponsored scheme dedicated to child protection, welfare, and rehabilitation, including Child Care Institutions (CCIs).
• Poshan 2.0 (Saksham Anganwadi and Nutrition 2.0): An integrated nutrition support program aimed at improving nutritional outcomes for children, pregnant women, and lactating mothers.
• NIPCCD: An apex institution under the Ministry of Women and Child Development (MWCD), responsible for training, research, and capacity building in the areas of women and child development.

Tabular Summary:

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17. Who inaugurated the first National Conference of Chairpersons of Urban Local Bodies in States and Union Territories held at Manesar in July 2025?
A) Shri Manohar Lal
B) Shri Harivansh
C) Shri Om Birla
D) Shri Nayab Singh
E) Shri Harvinder Kalyan
Answer: C) Shri Om Birla

Event and Location:

• Event: Inauguration of first National Conference of Chairpersons of Urban Local Bodies
• Location: International Centre for Automotive Technology, Manesar, Gurugram, Haryana
• Date: July 3, 2025

Mandates and Objectives:

• Mandates: Lok Sabha Speaker Om Birla inaugurated the first national-level conference of chairpersons of Urban Local Bodies (ULBs) from States and Union Territories. The event was attended by ministers, chief ministers, and other dignitaries.
• Objectives: To highlight the role of ULBs in nation-building, promote inclusive governance, exchange best practices, and strengthen grassroots democratic institutions in a rapidly urbanizing India.

Important Terms Explained:

• Urban Local Bodies (ULBs): Municipal corporations, municipalities, and town panchayats responsible for local urban governance under the 74th Constitutional Amendment Act.
• Viksit Bharat by 2047: A vision set by the Indian government to transform India into a developed nation by the year 2047, marking 100 years of independence.
• Constitutional Democracy: A system of governance where the powers and responsibilities of institutions are defined and limited by a written constitution, such as in India.

Tabular Summary:

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18. Under which scheme is the ₹100 crore Integrated Aqua Park proposed for Jammu & Kashmir?
A) Blue Revolution Mission
B) Pradhan Mantri Krishi Sinchayee Yojana
C) Pradhan Mantri Matsya Sampada Yojana
D) Rashtriya Krishi Vikas Yojana
E) National Rural Livelihood Mission
Answer: C) Pradhan Mantri Matsya Sampada Yojana

Event and Location:

• Event: ₹100 crore Aqua Park proposed under PMMSY
• Location: Jammu & Kashmir (main site proposed in Anantnag district)
• Date: July 2, 2025 (announcement made)

Mandates and Objectives:

• Mandates: The Union Government has proposed an Integrated Aqua Park worth ₹100 crore under Phase-II of PMMSY. The announcement was made by Union Minister Rajiv Ranjan Singh at the Shalimar Convention Centre, SKUAST-Kashmir.
• Objectives: To promote cold-water aquaculture, boost infrastructure, support sustainable livelihoods, attract private investment, and enhance fish production and value-chain development in the region.

Important Terms Explained:

• Pradhan Mantri Matsya Sampada Yojana (PMMSY): A flagship scheme launched in 2020 by the Government of India to bring about a Blue Revolution through sustainable and responsible development of the fisheries sector.
• Fisheries and Aquaculture Infrastructure Development Fund (FIDF): A central fund to support creation of modern infrastructure like hatcheries, feed mills, and cold storages to boost aquaculture production.
• Cold-Water Fisheries Cluster: A region-based designation promoting integrated aquaculture practices in cold climatic zones, including infrastructure, seed production, processing, and market linkage initiatives.

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19. Which university in Karnataka is being renamed after former Prime Minister Manmohan Singh?
A) Bangalore University
B) Visvesvaraya Technological University
C) Bengaluru City University
D) Mysore University
E) Karnataka State Open University
Answer: C) Bengaluru City University

Event and Location:

• Event: Renaming of Bengaluru City University to honour former PM Manmohan Singh
• Location: Bengaluru, Karnataka
• Date: July 2, 2025 (Cabinet approval date)

Mandates and Objectives:

• Mandates: The Karnataka cabinet has approved the proposal to rename Bengaluru City University after Dr. Manmohan Singh, former Prime Minister of India, recognizing his contributions to Bengaluru’s infrastructure and education.
• Objectives: To pay tribute to Dr. Singh’s developmental legacy, including key infrastructure projects and educational engagements in Bengaluru, and to continue enhancing the academic reputation of the university.

Important Terms Explained:

• Bengaluru City University: A public university in Karnataka formed after trifurcation of Bangalore University in 2017, offering undergraduate and postgraduate programs across disciplines.
• Namma Metro: Bengaluru’s metro rail project, whose foundation was laid by Dr. Manmohan Singh in 2006 and inaugurated by him in 2011.
• Kempegowda International Airport (KIA): The third-busiest airport in India, inaugurated by PM Manmohan Singh on May 24, 2008, playing a crucial role in regional and national air traffic connectivity.

Tabular Summary:

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20. Which Indian city recently launched the country’s first digital house address system using QR codes?
A) Bhopal
B) Pune
C) Ahmedabad
D) Indore
E) Surat
Answer: D) Indore

Event and Location:

• Event: Launch of India’s first digital house address project with QR codes
• Location: Indore, Madhya Pradesh
• Date: June 30, 2025

Mandates and Objectives:

• Mandates: The Indore Municipal Corporation (IMC) has launched a pilot project to install special digital address plates with QR codes outside every house in the city, starting with Ward 82 in Sudama Nagar.
• Objectives: To promote smart civic governance by integrating GPS-based address recognition, enabling payment of local taxes, and allowing real-time grievance redressal through digital connectivity.

Important Terms Explained:

• Digital House Address Project: A smart governance initiative that assigns GPS-enabled digital addresses to homes using QR code plates, enabling easier navigation, service delivery, and digital interaction with municipal systems.
• QR Code (Quick Response Code): A two-dimensional barcode that stores digital information. In this context, it links to the house’s GPS location, property data, and municipal service portals.
• Digipin (Digital Postal Index Number): A central government initiative to digitize postal addresses by linking them with location-based digital identifiers, enabling streamlined delivery and identification of homes.

Tabular Summary:

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21. According to NITI Aayog’s 2025 report, India aims to achieve what chemical output value by 2040?
A) USD 500 billion
B) USD 750 billion
C) USD 1 trillion
D) USD 850 billion
E) USD 1.2 trillion
Answer: C) USD 1 trillion

Event and Location:

• Event: Launch of report titled “Chemical Industry: Powering India’s Participation in Global Value Chains”
• Location: New Delhi, India (by NITI Aayog)
• Date: July 3, 2025

Mandates and Objectives:

• Mandates: NITI Aayog released a comprehensive report to chart a roadmap for transforming India into a global chemical manufacturing powerhouse, increasing the country’s participation in global value chains (GVCs) from 3.5% in 2023 to 12% by 2040.
• Objectives: To strengthen self-reliance in the chemical sector, reduce a $31 billion trade deficit, create 7 lakh jobs by 2030, and enhance exports and R&D for achieving USD 1 trillion output by 2040 under the Viksit Bharat @2047 vision.

Important Terms Explained:

• Global Value Chain (GVC): The full range of activities across multiple countries involved in the production, delivery, and sale of a product. Increasing GVC participation means more integration into global trade.
• Opex Subsidy Scheme: An operational expenditure-based incentive to promote incremental production, reduce import dependence, and encourage exports in critical chemical segments.
• FTAs (Free Trade Agreements): Bilateral or multilateral trade agreements offering preferential market access, which can reduce duties on raw materials and feedstock to boost competitiveness in the chemical sector.
• DCPC: Department of Chemicals and Petrochemicals – the nodal government department responsible for policies related to chemicals and petrochemicals.

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22. What is the objective of the BhashaSetu challenge launched by the Ministry of Information & Broadcasting?
A) To promote English language education in rural areas
B) To fund AI startups working on entertainment tech
C) To develop AI-based multilingual translation solutions
D) To support drone technology in agriculture
E) To regulate media content across languages
Answer: C) To develop AI-based multilingual translation solutions

Event and Location:

• Event: Launch of the BhashaSetu Challenge under WaveX Accelerator
• Location: India (nationwide initiative)
• Date: 30 June 2025

Mandates and Objectives:

• Mandates:
  • The Ministry of Information & Broadcasting launched the WAVEX Startup Challenge 2025 inviting startups to build real-time AI-based language translation tools.
  • The challenge is part of the WaveX accelerator program, focused on translation, transliteration, and voice tech.
• Objectives:
  • To encourage innovation in AI-powered real-time language solutions for at least 12 Indian languages.
  • To make communication in India more inclusive, accessible, emotion-aware, and localized.
  • To provide incubation and development support for scalable, affordable tech solutions.

Important Terms Explained:

• BhashaSetu: An AI-powered translation challenge encouraging real-time multilingual translation, transliteration, and voice localization across 12 Indian languages.
• WaveX: A startup accelerator platform launched under the Ministry of Information & Broadcasting’s WAVES initiative, aimed at nurturing tech in media, entertainment, and language sectors.
• WAVES Summit: A national event where startups engage with government and industry leaders; held in May 2025 in Mumbai, promoting innovation in digital and language technologies.

Tabular Summary:

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23. Which platform has been upgraded to MY Bharat 2.0 to empower Indian youth with technology-led features like AI chatbots and Smart CV builder?
A) Skill India Mission
B) Digital India Portal
C) MY Bharat Platform
D) Viksit Yuva Portal
E) National Youth Connect
Answer: C) MY Bharat Platform

Event and Location:

• Event: Launch of upgraded MY Bharat 2.0 youth platform
• Location: New Delhi, India
• Date: 30 June 2025

Mandates and Objectives:

• Mandates:
  • Signing of MoU between Ministry of Youth Affairs and Sports and Digital India Corporation for development of MY Bharat 2.0
  • Rollout of MY Bharat 2.0 with new AI-powered features and mobile app accessibility
• Objectives:
  • Empower Indian youth digitally for participation in nation-building
  • Align youth with skill development, civic engagement, and career growth under Viksit Bharat 2047 vision

Important Terms Explained:

• MY Bharat 2.0:
  • An upgraded version of the original MY Bharat platform aimed at enhancing youth engagement using technology
  • Integrates features like Smart CV Builder, AI Chatbots, voice-assisted navigation, and mentorship hubs
• Digital India Corporation (DIC):
  • A not-for-profit company under MeitY, responsible for implementing projects under the Digital India programme
• Viksit Bharat 2047:
  • The Indian government’s long-term vision to make India a developed nation by the year 2047

Tabular Summary:

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24. What was one key finding of the 2024 India Financial Sector Assessment Program (FSAP) conducted by the IMF?
A) Insurance sector is under severe stress
B) Retail inclusion in India is declining
C) NBFCs are excluded from supervisory frameworks
D) India’s financial system is more resilient and diverse
E) Banks lack capital even in moderate scenarios
Answer: D) India’s financial system is more resilient and diverse

Event and Location:

• Event: Release of IMF’s Financial System Stability Assessment (FSSA) report for India under FSAP
• Location: India (Assessment conducted by IMF-WB)
• Date: February 28, 2025 (release date of IMF FSSA report)

Mandates and Objectives:

• Mandates:
  • Comprehensive assessment of India’s financial sector by the IMF and World Bank under the Financial Sector Assessment Program (FSAP)
  • Conducted every 5 years for jurisdictions with systemically important financial sectors
• Objectives:
  • To evaluate stability, resilience, and regulatory adequacy of India’s financial system
  • To recommend reforms for strengthening prudential regulation, risk management, and financial inclusion

Important Terms Explained:

• Financial Sector Assessment Program (FSAP):
  • A joint IMF-World Bank initiative to assess the resilience and stability of the financial sector in member countries, especially those deemed systemically important.
• FSSA (Financial System Stability Assessment):
  • The IMF’s official report evaluating financial sector stability, regulatory practices, and macroprudential policies as part of FSAP.
• Liquidity Coverage Ratio (LCR):
  • A regulatory standard mandating financial institutions to maintain high-quality liquid assets to survive acute liquidity stress scenarios.
• Corporate Debt Market Development Fund (CDMDF):
  • A backstop facility aimed at enhancing liquidity in the corporate debt market in India, especially during times of market stress.
• IFSR 9 (Ind AS equivalent of IFRS 9):
  • An accounting standard on expected credit loss-based provisioning, aimed at strengthening credit risk management.

Tabular Summary:

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Over All Review

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