Daily Current Affairs August 12

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August 12 | Daily Current Affairs 2025

Important Days – Daily Current Affairs August 12

1. What is the theme of International Youth Day 2025?
A) Youth for Climate Action
B) Intergenerational Solidarity: Creating a World for All Ages
C) Youth Engagement for Global Action
D) Local Youth Actions for the SDGs and Beyond
E) Youth and Innovation for a Better World
Answer: D) Local Youth Actions for the SDGs and Beyond

Event and Location:

• Event: International Youth Day 2025 observed globally with focus on youth-led SDG actions
• Location: Global (Official UN celebration in Nairobi, Kenya)
• Date: August 12, 2025

Mandates and Objectives:

• Mandates: International Youth Day (IYD) is celebrated every year on August 12, and in 2025, the official UN observance is hosted in Nairobi, Kenya, in collaboration with UN-Habitat, marking 30 years of the World Programme of Action for Youth.
• Objectives: To recognise the contributions of youth to sustainable development, highlight community-based action for the SDGs, and promote youth participation in local governance and decision-making.

Important Terms Explained:

• International Youth Day (IYD): An annual UN observance on August 12, first celebrated in 2000, to raise awareness of issues affecting youth and to celebrate their role as partners in global development.
• World Programme of Action for Youth (WPAY): Adopted in 1995, this UN framework guides national and international action on youth development in areas such as education, employment, and health.
• Sustainable Development Goals (SDGs): A set of 17 global goals adopted by the UN in 2015 to end poverty, protect the planet, and ensure prosperity for all by 2030.
• UN-Habitat: The United Nations Human Settlements Programme, which supports sustainable urban development and hosted the 2025 IYD celebrations in Nairobi.

Tabular Summary:

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2. Where is World Elephant Day 2025 being celebrated, with a focus on human-elephant conflict mitigation?
A) Mysuru
B) Coimbatore
C) Kaziranga
D) Siliguri
E) Vellore
Answer: B) Coimbatore

Event and Location:

• Event: World Elephant Day 2025 celebration with a focus on conflict mitigation
• Location: Coimbatore, Tamil Nadu
• Date: August 12, 2025

Mandates and Objectives:

• Mandates: The Ministry of Environment, Forest and Climate Change (MoEF&CC), in collaboration with the Tamil Nadu Forest Department, is organising World Elephant Day in Coimbatore, featuring a workshop on Human-Elephant Conflict (HEC).
• Objectives: To reaffirm the global commitment to elephant conservation, foster human-elephant coexistence, promote community participation, and discuss scientific, practical solutions to mitigate conflicts and conserve India’s National Heritage Animal.

Important Terms Explained:

• World Elephant Day: Observed annually on August 12 to raise awareness about the conservation and protection of elephants.
• Project Elephant: A centrally sponsored scheme launched in 1992 by MoEF&CC aimed at protecting elephants, their habitats, and migration corridors while addressing human-elephant conflict.
• Human-Elephant Conflict (HEC): A recurring conservation challenge where elephants enter human settlements due to habitat loss, causing damage and raising safety concerns for both communities and wildlife.
• Elephant Corridors: Identified passageways that allow elephants to move safely between habitats, critical for maintaining genetic diversity and reducing conflict. As of 2023, 150 such corridors have been documented in India.
• Elephant Reserves: Protected zones focused on conserving elephant populations and habitats; India has 33 Elephant Reserves.

Tabular Summary:

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Sports – Daily Current Affairs August 12

3. Who recently surpassed Virat Kohli to become the fifth-highest run-scorer in T20 cricket?
A) Shoaib Malik
B) Jos Buttler
C) David Warner
D) Kieron Pollard
E) Alex Hales
Answer: C) David Warner

Event and Location:

• Event: David Warner overtakes Virat Kohli in all-time T20 run-scorer rankings
• Location: London, England (Match in The Hundred tournament)
• Date: August 12, 2025

Mandates and Objectives:

• Mandates: David Warner surpassed Virat Kohli to become the fifth-highest run-scorer in T20 cricket, scoring 71 runs off 51 balls for London Spirit against Manchester Originals in The Hundred.
• Objectives: To highlight Warner’s milestone in the global T20 circuit and reflect the evolving all-time run-scorer rankings in professional T20 cricket.

All-Time Top T20 Run-Scorers:

Important Terms Explained:

• T20 Cricket: A format of cricket where each team plays a maximum of 20 overs; popular in leagues like IPL, The Hundred, CPL, and BBL.
• The Hundred: A 100-ball cricket tournament in England, featuring men’s and women’s franchise teams; Warner currently plays for London Spirit.
• Strike Rate: A metric used in cricket to show how fast a batter scores; calculated as (total runs / balls faced) × 100. Warner’s strike rate is 140+, while Kohli’s is 134.67.

Tabular Summary:

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4. How many total medals did India win at the Asian U19 & U22 Boxing Championships 2025?
A) 18
B) 21
C) 27
D) 31
E) 43
Answer: C) 27

Event and Location:

• Event: India wins 27 medals at the Asian U19 & U22 Boxing Championships 2025
• Location: Bangkok, Thailand
• Date: August 12, 2025 (end of event reporting)

Mandates and Objectives:

• Mandates: Team India sent 40 boxers (20 U19 and 20 U22) to compete at the Asian U19 & U22 Boxing Championships 2025 held in Bangkok.
• Objectives: To showcase and strengthen India’s youth and under-22 boxing talent at the continental level, aiming for podium finishes and long-term development for international competitions.

Important Terms Explained:

• Asian U19 & U22 Boxing Championships: A prestigious boxing tournament held annually by the Asian Boxing Confederation for athletes under 19 and 22 years old.
• Cloud Seeding (in referenced earlier content): Though unrelated directly here, the earlier term is about artificial rain stimulation—highlighting innovation in weather control.
• Olympics.com: The official digital platform for Olympic-related events and sports tracking, including athlete updates, medals, and international tournament data.

Tabular Summary:

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Banking and Finance – Daily Current Affairs August 12

5. What is the new Foreign Direct Investment (FDI) limit in Indian insurance companies as per the announcement in Union Budget 2025?
A) 49 percent
B) 74 percent
C) 80 percent
D) 100 percent
E) 90 percent
Answer: D) 100 percent

Event and Location:

• Event: FDI limit in insurance sector increased to 100%
• Location: India
• Date: August 1, 2025

Mandates and Objectives:

• Mandates: The FDI limit in Indian insurance companies has been raised from 74% to 100%, as announced in the Union Budget 2025, and implemented from August 1, 2025.
• Objectives: To attract more foreign investment, increase competition, generate employment, enhance technological adoption, and improve overall efficiency in the insurance sector.

Important Terms Explained:

• FDI (Foreign Direct Investment): Investment made by a company or individual in one country into business interests located in another; now allowed up to 100% in Indian insurance companies.
• Insurance Act, 1938: Governs investment, solvency, and safety measures for insurers; mandates investment within India and ensures financial stability and policyholder protection.
• IRDAI (Insurance Regulatory and Development Authority of India): Regulator of insurance sector, empowered to oversee solvency, transparency, and policyholder interests.
• Solvency Ratio: Minimum control level of 150% is required by IRDAI to ensure insurers can meet liabilities.
• Companies Act, 2013: Governs corporate governance norms for board-managed insurance companies in India.
• Banking Regulation Act, 1949 (Section 10A): Recently amended to extend the tenure of directors (excluding Chairperson and Whole-time Directors) in cooperative banks from 8 to 10 years.

Tabular Summary:

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6. Which company has partnered with RBL Bank to launch a new digital payment gateway for enterprises?
A) Razorpay
B) PhonePe
C) CAMSPay
D) PayU
E) Pine Labs
Answer: C) CAMSPay

Event and Location:

• Event: RBL Bank partnered with CAMSPay to launch a digital payment gateway
• Location: India (Headquartered in Mumbai)
• Date: August 12, 2025

Mandates and Objectives:

• Mandates: RBL Bank and CAMSPay, the payments arm of CAMS, launched a digital payment gateway for Indian enterprises, offering real-time settlement and secure card processing.
• Objectives: To support businesses in managing high transaction volumes, ensuring regulatory compliance, and offering advanced features like real-time analytics, automated reconciliation, and Open API access.

Important Terms Explained:

• Digital Payment Gateway: A technology platform enabling merchants to accept electronic payments via cards, UPI, and net banking; ensures fast, secure transactions.
• Merchant Acquiring Settlement Services: Services provided by a bank (here, RBL Bank) to facilitate collection and settlement of funds from customer payments on behalf of a merchant.
• CAMSPay: Payment solutions division of CAMS offering digital payment infrastructure including gateways, automation, and compliance tools.
• Open APIs (Application Programming Interfaces): Publicly available software interfaces that enable third-party platforms to integrate with payment systems for smooth data transfer and processing.

Tabular Summary:

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7. Which private sector bank recently inaugurated new branches in Maharashtra, Andhra Pradesh, and Tamil Nadu?
A) City Union Bank
B) Federal Bank
C) South Indian Bank
D) Karur Vysya Bank
E) Dhanlaxmi Bank
Answer: D) Karur Vysya Bank

Event and Location:

• Event: Karur Vysya Bank opened new branches in three Indian states
• Location: Maharashtra, Andhra Pradesh, Tamil Nadu
• Date: August 12, 2025

Mandates and Objectives:

• Mandates: Karur Vysya Bank (KVB) inaugurated three new branches in Thane (Maharashtra), Kurnool (Andhra Pradesh), and Udayanpatti, Tiruchirappalli (Tamil Nadu) to strengthen its market presence.
• Objectives: To expand the bank’s reach in potential markets, bring banking services closer to customers, and support its growing customer base through a mix of physical branches and digital platforms.

Important Terms Explained:

• Karur Vysya Bank (KVB): A leading private sector bank headquartered in Karur, Tamil Nadu, known for its retail and SME-focused banking solutions.
• KVB DLite: The bank’s mobile banking app recently upgraded to offer over 150 financial and non-financial services, enhancing customer convenience and digital engagement.
• Branch Expansion: The strategic process by which banks increase physical presence in new or growing markets to provide localized services and improve accessibility.

Tabular Summary:

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8. What is the name of the digital platform launched by IDFC FIRST Bank for NRI remittances?
A) Transfer2India
B) FastRemit
C) RemitFIRST2India
D) SwiftNRI Transfer
E) FIRSTPayGlobal
Answer: C) RemitFIRST2India

Event and Location:

• Event: IDFC FIRST Bank launches RemitFIRST2India – a new digital remittance platform for NRIs
• Location: Mumbai, India
• Date: August 5, 2025

Mandates and Objectives:

• Mandates: IDFC FIRST Bank launched RemitFIRST2India, a digital remittance solution developed in partnership with SingX, enabling NRIs to send money to India from Singapore and Hong Kong with zero transfer fees.
• Objectives: To offer secure, transparent, and fast remittance services to NRIs; reduce transaction costs; promote digital financial inclusion; and simplify global-to-India money transfers with live tracking and competitive forex rates.

Important Terms Explained:

• RemitFIRST2India: A next-gen digital remittance platform by IDFC FIRST Bank allowing NRIs to send money to India securely, with zero transfer fees, real-time tracking, and seamless onboarding.
• SingX: A Singapore-based cross-border payments provider licensed by the Monetary Authority of Singapore, partnered with IDFC FIRST Bank to enable compliant, efficient remittance solutions.
• NRI (Non-Resident Indian): An Indian citizen residing abroad for work, education, or settlement; a key demographic for inward remittances to India.
• Forex Margin: The difference between the interbank rate and the rate offered to customers; RemitFIRST2India offers guaranteed forex rates with no hidden markups.

Tabular Summary:

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9. Which of the following is not part of RBI’s three newly announced consumer-centric measures?
A) Camps for doorstep re-KYC
B) Standardised claim process for deceased account holders
C) Mandatory digital-only KYC for Jan Dhan accounts
D) Retail Direct platform upgrades
E) Promotion of micro-insurance and pension schemes at local camps
Answer: C) Mandatory digital-only KYC for Jan Dhan accounts

Event and Location:

• Event: RBI announced three customer-centric measures to improve access to banking and retail investing
• Location: India (nationwide implementation)
• Date: August 6, 2025

Mandates and Objectives:

• Mandates:
  1. Re-KYC camps at panchayat level for Jan Dhan account holders.
  2. Simplified claim process for deceased account holders and locker access.
  3. Upgrade of RBI Retail Direct platform for better retail investment experience in government securities.
• Objectives: To promote financial inclusion, reduce bureaucratic friction, enhance customer convenience, and empower retail investors across India.

Important Terms Explained:

• Re-KYC (Know Your Customer): A periodic process banks undertake to update customer identity and address details; now made easier through physical camps at panchayat level for Jan Dhan users.
• Retail Direct Platform: RBI’s portal allowing individuals to invest directly in government securities (G-Secs); the upgrade enables better investment planning tools and personalized dashboards.
• Standardised Claim Process: A unified approach across banks to ease fund access and locker content retrieval after the death of an account holder, enhancing consumer protection and efficiency.
• Pradhan Mantri Jan Dhan Yojana (PMJDY): A flagship financial inclusion scheme launched in 2014 to provide universal access to banking services.

Tabular Summary:

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10. What is the purpose of Axis Bank’s newly launched ‘Lock FD’ feature?
A) To increase FD interest rates for senior citizens
B) To enable digital withdrawal of FDs faster
C) To restrict premature digital closure of FDs for security
D) To allow auto-renewal of FDs through the app
E) To convert fixed deposits into recurring deposits
Answer: C) To restrict premature digital closure of FDs for security

Event and Location:

• Event: Axis Bank launched the ‘Lock FD’ feature to prevent digital fraud
• Location: India (bank-wide implementation)
• Date: August 8, 2025

Mandates and Objectives:

• Mandates: Axis Bank introduced a new security feature named ‘Lock FD’ that restricts premature closure of fixed deposits (FDs) through digital channels like internet banking and mobile apps.
• Objectives: To enhance digital banking security, prevent unauthorised withdrawals, and provide greater peace of mind to depositors amid rising online fraud and phishing attacks.

Important Terms Explained:

• Lock FD: A feature that disables the option to close an FD prematurely via mobile or internet banking. Closure can only be done physically at a branch, ensuring added identity verification and reducing fraud risk.
• Premature FD Closure: The act of withdrawing a fixed deposit before its maturity date. In digital banking, this is often a vulnerable point for fraudsters exploiting stolen credentials.
• OTP Interception: A method used by fraudsters to access one-time passwords sent to users. Axis Bank’s in-app OTP feature prevents this by generating OTPs within the app itself.
• Fixed Deposit (FD): A savings instrument offering higher interest than regular savings accounts, with a locked-in period. Axis Bank offers 3%–6.6% interest for general citizens and 3.5%–7.10% for senior citizens (as of August 6, 2025).

Tabular Summary:

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Business and Economy – Daily Current Affairs August 12

11. What was Airtel Payments Bank’s net profit for Q1 FY26?
A) ₹7.4 crore
B) ₹10.4 crore
C) ₹12.2 crore
D) ₹8.6 crore
E) ₹9.5 crore
Answer: B) ₹10.4 crore

Event and Location:

• Event: Airtel Payments Bank Q1 FY26 net profit rose by 44.4%
• Location: India
• Date: August 12, 2025

Mandates and Objectives:

• Mandates: Airtel Payments Bank announced a 44.4% year-on-year rise in net profit to ₹10.4 crore for the June quarter (Q1 FY26), with significant growth in revenue, customer deposits, and digital transactions.
• Objectives: To showcase continued growth in the digital banking sector, expand customer adoption, and solidify its position as a leading digital bank through innovative products and financial inclusion.

Important Terms Explained:

• Airtel Payments Bank: A subsidiary of Bharti Airtel, providing digital banking services focused on underserved areas through mobile-led platforms and physical banking points.
• EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): A financial metric used to measure a company’s overall financial performance; stood at ₹81.8 crore for Q1 FY26, up 30% YoY.
• Annualised Revenue: Projected revenue based on current quarter’s performance extrapolated over a year; Airtel Payments Bank crossed ₹3,000 crore in annualised revenue.
• Gross Merchandise Value (GMV): Total transaction value across platforms; Airtel Payments Bank recorded ₹4,260 billion in annualised GMV.
• RuPay On-The-Go NCMC cards: Contactless transit-enabled payment cards; Airtel Payments Bank is the leading issuer with over 3.3 million users.

Tabular Summary:

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12. What is the net direct tax collection reported so far in FY26, as per government data?
A) ₹7.99 lakh crore
B) ₹6.64 lakh crore
C) ₹8.14 lakh crore
D) ₹4.12 lakh crore
E) ₹1.35 lakh crore
Answer: B) ₹6.64 lakh crore

Event and Location:

• Event: Net direct tax collection for FY26 fell by nearly 4% due to higher refunds
• Location: India
• Date: August 12, 2025

Mandates and Objectives:

• Mandates: The government reported a 3.95% decline in net direct tax collections, which stood at ₹6.64 lakh crore from April 1 to August 11, 2025, compared to ₹6.91 lakh crore in the same period last year, due to a 10% rise in refunds.
• Objectives: To track revenue trends in direct taxes, ensure transparency in public finance reporting, and manage fiscal projections for FY26, targeting ₹25.20 lakh crore in direct tax collections.

Important Terms Explained:

• Direct Tax: Tax paid directly to the government by individuals, companies, and entities on income, profits, or gains, including corporate tax, personal income tax, and professional tax.
• Corporate Tax: Tax on company profits; the net corporate tax collection stood at ₹2.29 lakh crore in the current fiscal (till August 11).
• Non-Corporate Tax: Tax paid by individuals, HUFs, and firms; collection stood at ₹4.12 lakh crore.
• Securities Transaction Tax (STT): A tax levied on the purchase and sale of securities; ₹22,362 crore collected till August 11 in FY26.
• Gross vs. Net Collection: Gross tax collections refer to total collections before refunds; net collections are after refund deductions.
• Refunds: Excess tax payments returned to taxpayers; refunds grew 10% YoY to ₹1.35 lakh crore in the current period.

Tabular Summary:

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Appointments – Daily Current Affairs August 12

13. Which Bollywood actor was recently appointed as the brand ambassador for Zomato?
A) Ranveer Singh
B) Salman Khan
C) Shah Rukh Khan
D) Akshay Kumar
E) Ayushmann Khurrana
Answer: C) Shah Rukh Khan

Event and Location:

• Event: Shah Rukh Khan joins Zomato as brand ambassador
• Location: India
• Date: August 11, 2025

Mandates and Objectives:

• Mandates: Zomato, led by Deepinder Goyal, appointed Shah Rukh Khan as its brand ambassador as part of its “Fuel Your Hustle” campaign to celebrate India’s spirit of perseverance and ambition.
• Objectives: To leverage Shah Rukh Khan’s massive influence and relatability to enhance Zomato’s brand image, reach wider audiences, and inspire brand trust and motivation across generations.

Important Terms Explained:

• Fuel Your Hustle: Zomato’s new campaign that celebrates determination, ambition, and the grit behind success stories in India, aligning with its own journey of innovation and customer service.
• Brand Ambassador: A public figure who represents a brand’s image and values; Shah Rukh Khan’s persona of resilience and popularity makes him a strategic fit for Zomato.
• Zomato: One of India’s largest online food delivery platforms, known for its reach, technology-driven services, and marketing campaigns.

Tabular Summary:

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Science and Technology – Daily Current Affairs August 12

14. Which Indian state conducted the country’s first drone-based artificial rain experiment in August 2025?
A) Maharashtra
B) Tamil Nadu
C) Rajasthan
D) Karnataka
E) Gujarat
Answer: C) Rajasthan

Event and Location:

• Event: India’s first drone-led artificial rain trial using cloud seeding technology
• Location: Ramgarh Dam, Jaipur, Rajasthan
• Date: August 12, 2025

Mandates and Objectives:

• Mandates: The Rajasthan Government, in collaboration with US-Bengaluru based firm GenX AI, launched India’s first drone-based cloud seeding trial, involving 60 drone flights over Ramgarh Dam in Jaipur.
• Objectives: To explore the use of unmanned aerial vehicles (UAVs) for inducing artificial rain as a solution to water scarcity and to reduce dependence on conventional aircraft-based cloud seeding methods.

Important Terms Explained:

• Drone-Based Cloud Seeding: A modern method of artificial rainmaking using drones to release substances like silver iodide into rain-bearing clouds, aimed at triggering rainfall.
• Cloud Seeding: A weather modification technique where chemicals are dispersed into clouds to stimulate precipitation; can increase rainfall by up to 20%, though results vary.
• GenX AI: A technology firm based in the US and Bengaluru, partnering with the Rajasthan Government for the drone-based rain experiment.
• Ramgarh Dam: A reservoir near Jaipur, chosen as the site for this pioneering weather intervention in India.
• DGCA (Directorate General of Civil Aviation): Regulatory body that provided airspace approval for drone trials.

Tabular Summary:

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International Affairs – Daily Current Affairs August 12

15. Which country recently signed a trade cooperation pact with India to promote cooperative exports?
A) Indonesia
B) Kenya
C) Zambia
D) Senegal
E) South Africa
Answer: C) Zambia

Event and Location:

• Event: India signed a trade cooperation pact with Zambia to boost cooperative exports
• Location: India and Zambia
• Date: July 18, 2025

Mandates and Objectives:

• Mandates: India signed a memorandum of understanding (MoU) with Zambia to foster trade alliances between cooperatives of both countries and support cooperative exports.
• Objectives: To enhance India’s cooperative export ecosystem, connect National Cooperative Exports Ltd (NCEL) with global importers, and promote international trade led by Indian cooperatives.

Important Terms Explained:

• National Cooperative Exports Ltd (NCEL): A government-supported body aimed at promoting cooperative-led exports from India by facilitating trade relationships and accessing international markets.
• Memorandum of Understanding (MoU): A formal agreement between two parties indicating a planned partnership; in this case, to boost cooperative trade between India and Zambia.
• Indian Missions Abroad: Embassies and consulates acting as trade facilitators for Indian cooperative sectors, helping with market intelligence and overseas connections.

Tabular Summary:

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Schemes – Daily Current Affairs August 12

16. Which of the following is not a component of the Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA)?
A) Price Support Scheme (PSS)
B) Market Intervention Scheme (MIS)
C) Direct Income Transfer Scheme (DITS)
D) Price Deficiency Payment Scheme (PDPS)
E) Price Stabilisation Fund (PSF)
Answer: C) Direct Income Transfer Scheme (DITS)

Event and Location:

• Event: Update on the implementation of PM-AASHA Scheme
• Location: Pan-India (Implemented by Government of India)
• Date: August 12, 2025

Mandates and Objectives:

• Mandates:
  • Implement the PM-AASHA scheme with components like PSS, PDPS, PSF, and MIS to ensure fair prices to farmers.
  • Operate procurement through central nodal agencies like NAFED and NCCF, ensuring direct MSP payments.
  • Maintain buffer stocks and stabilize prices for agri-horticultural commodities.
• Objectives:
  • Ensure remunerative prices to farmers for their produce during peak harvesting season.
  • Protect consumers from price volatility by releasing buffer stocks during lean seasons.
  • Promote transparency, eliminate intermediaries, and ensure direct benefit transfers to farmers.

Important Terms Explained:

• PM-AASHA (Pradhan Mantri Annadata Aay Sanrakshan Abhiyan):
  • A government scheme to ensure income security to farmers and stable commodity prices for consumers.
• Price Support Scheme (PSS):
  • Procurement of pulses, oilseeds, and copra at MSP when market prices fall below MSP, operated via NAFED and NCCF.
• Price Deficiency Payment Scheme (PDPS):
  • Provides direct payments to farmers when market prices fall below MSP, without physical procurement.
• Price Stabilisation Fund (PSF):
  • Maintains buffer stocks of key commodities like pulses and onions, released during supply crunch to stabilize prices.
• e-Samriddhi & e-Samukti Portals:
  • Digital platforms developed by NAFED and NCCF to facilitate online farmer registration, procurement scheduling, and direct MSP payments.
• Minimum Support Price (MSP):
  • The minimum price set by the government at which it purchases crops from farmers, ensuring income security.

Tabular Summary:

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17. What is the main objective of the Dirghavadhi Krishak Punji Sahakar Yojana?
A) To provide subsidies on fertilizers to farmers
B) To finance long-term loans through Agricultural Credit Cooperatives
C) To support short-term agricultural credit needs
D) To insure crops against natural disasters
E) To promote cooperative dairy farming
Answer: B) To finance long-term loans through Agricultural Credit Cooperatives

Event and Location:

• Event: Implementation update of Dirghavadhi Krishak Punji Sahakar Yojana
• Location: India (nationwide via NCDC)
• Date: August 12, 2025

Mandates and Objectives:

• Mandates:
  • Scheme implemented by NCDC under the Ministry of Cooperation
  • Provides long-term financial assistance to Agricultural Credit Cooperatives for further lending to farmers
  • Evaluation of proposals through detailed techno-economic parameters and monitoring mechanisms
• Objectives:
  • Enable cooperatives to finance viable, long-term agricultural activities
  • Ensure prudent lending, safeguard public funds, and ensure targeted development of the cooperative sector
  • Monitor fund utilization to avoid misuse and ensure repayment discipline

Important Terms Explained:

• Dirghavadhi Krishak Punji Sahakar Yojana:
  • A financial support scheme by NCDC for providing long-term loans to farmers through Agricultural Credit Cooperatives.
• NCDC (National Cooperative Development Corporation):
  • A statutory body under the Ministry of Cooperation, responsible for planning and promoting cooperative development through financial and technical support.
• SARFAESI Act:
  • Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. It allows lenders to recover non-performing assets without court intervention.
• DRT (Debt Recovery Tribunal):
  • A tribunal where banks and financial institutions can file cases to recover defaulted loans under the RDDBFI Act.
• Project Appraisal Metrics (IRR, NPV, DSCR):
  • IRR (Internal Rate of Return): Measures project profitability.
  • NPV (Net Present Value): Evaluates present value of future cash flows.
  • DSCR (Debt Service Coverage Ratio): Indicates a project’s ability to service its debt.

Tabular Summary:

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18. Which phase of the Pradhan Mantri Gram Sadak Yojana was launched in 2024 to provide road connectivity to newly eligible habitations in rural India?
A) PMGSY-I
B) PMGSY-II
C) PMGSY-III
D) PMGSY-IV
E) PMGSY-Rural Express
Answer: D) PMGSY-IV

Event and Location:

• Event: Launch of PMGSY-IV to provide connectivity to newly eligible rural habitations
• Location: India
• Date: September 11, 2024

Mandates and Objectives:

• Mandates: Launch of PMGSY-IV to connect 25,000 unconnected habitations based on updated population criteria under the Pradhan Mantri Gram Sadak Yojana.
• Objectives: To enhance rural infrastructure, improve access to essential services, and promote inclusive growth through all-weather road connectivity.

Important Terms Explained:

• Pradhan Mantri Gram Sadak Yojana (PMGSY): A centrally sponsored scheme launched in 2000 aimed at providing all-weather road connectivity to unconnected rural habitations.
• PMGSY-IV: The fourth phase of PMGSY, launched in 2024 with a total outlay of ₹70,125 crore to connect 25,000 habitations via 62,500 km of roads.
• eMARG: An online platform used to monitor and manage the post-construction maintenance of PMGSY roads.
• Green Technology in Road Construction: Use of sustainable and eco-friendly materials like fly ash, plastic waste, jute, and slag to reduce environmental impact and construction costs.

Tabular Summary:

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19. Which scheme was praised by Dr. Jitendra Singh as a global model of citizen-centric governance for enabling self-mapping of land by rural citizens?
A) NAKSHA Scheme
B) AMRUT Mission
C) SVAMITVA Scheme
D) Digital Twin Mission
E) PM-WANI Scheme
Answer: C) SVAMITVA Scheme

Event and Location:

• Event: Review of the Survey of India and success of SVAMITVA scheme
• Location: India (Pan-India implementation)
• Date: August 12, 2025

Mandates and Objectives:

• Mandates: High-level review of Survey of India; implementation and scaling of SVAMITVA and other geospatial-based schemes
• Objectives: Empower citizens via digital mapping of land, democratize geospatial data, improve service delivery through AI-enabled land surveys and topographic mapping

Important Terms Explained:

• SVAMITVA Scheme: Stands for Survey of Villages and Mapping with Improvised Technology in Village Areas, a Central Sector Scheme aimed at providing property ownership rights in rural India through digital mapping using drones.
• National Geospatial Policy 2022: A policy to democratize access to geospatial data and infrastructure, boosting innovation and supporting governance, planning, and development.
• Continuously Operating Reference Stations (CORS): Permanent GNSS stations that provide real-time data for high-precision location services used in mapping, navigation, and surveying.
• Digital Elevation Model (DEM): A 3D representation of terrain elevation data used for topographical analysis and mapping.
• National Geodetic Reference Framework (NGRF): A spatial reference system consisting of fixed stations used to define geographic locations accurately across the country.

Tabular Summary:

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20. Under the PM-DAKSH scheme, what percentage of trained beneficiaries have received employment or self-employment so far?
A) 25%
B) 39%
C) 45%
D) 52%
E) 60%
Answer: B) 39%

Event and Location:

• Event: Skill training progress under PM-DAKSH Scheme
• Location: India (National Implementation)
• Date: August 12, 2025

Mandates and Objectives:

• Mandates: Provide skill development and employment/self-employment support to target groups through structured training programs
• Objectives: Empower SCs, OBCs, Safai Karamcharis and other marginalised sections by enhancing employability and promoting entrepreneurship

Important Terms Explained:

• PM-DAKSH Scheme: Pradhan Mantri Dakshta Aur Kushalta Sampann Hitgrahi is a skill development initiative by the Ministry of Social Justice and Empowerment aimed at providing employable skill training to socially disadvantaged groups.
• NSFDC: National Scheduled Castes Finance & Development Corporation, provides finance and support to SC beneficiaries for self-employment and skill training.
• NBCFDC: National Backward Classes Finance & Development Corporation, offers funding and support to OBCs and other backward classes for employment-related skill development.
• NSKFDC: National Safai Karamcharis Finance & Development Corporation, supports skill training and entrepreneurship development for sanitation workers and manual scavengers.
• NSQF: National Skill Qualification Framework is a competency-based framework that organizes all qualifications according to levels of knowledge, skills, and aptitude.

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21. What is the primary objective of the SHRESHTA Scheme (Mode-I)?
A) Provide midday meals in tribal schools
B) Offer financial loans to SC students
C) Select meritorious SC students for residential education in top schools
D) Support only non-residential SC education
E) Build sports facilities in rural SC areas
Answer: C) Select meritorious SC students for residential education in top schools

Event and Location:

• Event: Implementation of SHRESHTA Scheme for SC students’ education
• Location: India (National Coverage)
• Date: August 12, 2025

Mandates and Objectives:

• Mandates: Provide financial assistance to NGOs and high-quality residential schools to educate SC students; conduct a national entrance test via NTA for student selection
• Objectives: Bridge the educational gap in SC-dominated areas, enable socio-economic upliftment, and provide access to top-class schooling for meritorious SC students

Important Terms Explained:

• SHRESHTA Scheme: Scheme for Residential Education for Students in High Schools in Targeted Areas – aims to provide SC students with quality education through residential schooling
• Mode-I: Component added in 2021-22 for selecting meritorious SC students via national entrance test conducted by National Testing Agency (NTA) for admission to top-class residential schools
• Mode-II: Provides financial aid to NGOs to run Residential Schools, Non-Residential Schools, and Hostels for SC students at the primary and secondary levels

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National Affairs – Daily Current Affairs August 12

22. What major change has the newly passed Income Tax Bill introduced?
A) Increased number of tax brackets
B) Introduction of digital-only tax filing system
C) Complete abolishment of income tax below ₹5 lakh
D) Replacement of Income Tax Act 1961 with a simplified version
E) Retrospective taxation on digital companies
Answer: D) Replacement of Income Tax Act 1961 with a simplified version

Event and Location:

• Event: Parliament passed the new Income Tax Bill replacing the 1961 Act
• Location: India
• Date: August 12, 2025

Mandates and Objectives:

• Mandates: The new Income Tax Bill was passed by both Houses of Parliament, replacing the Income Tax Act, 1961, reducing legal complexity by trimming the number of sections and chapters, and including modern tables and formulae.
• Objectives: To simplify tax law, enhance transparency, and make provisions easier to understand using structured formats, FAQs, and Standard Operating Procedures (SoPs).

Important Terms Explained:

• Income Tax Act, 1961: The central law governing income tax in India for over six decades, now replaced.
• CBDT (Central Board of Direct Taxes): Apex body responsible for implementing direct tax policies; will issue SoPs and FAQs to guide taxpayers.
• Standard Operating Procedure (SoP): Official set of instructions to be followed, especially in handling digital data and personal information seized during tax searches.
• Advance Tax Interest (Section 234C): Provision under which taxpayers must pay interest for shortfall in advance tax payments; the new Bill’s corrigendum aligns this with the earlier version to avoid reduced interest misinterpretation.

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23. Under which mission were four semiconductor plants recently approved by the Union Cabinet?
A) Make in India
B) Digital India Mission
C) India Semiconductor Mission
D) Bharat Chip Yojana
E) Atmanirbhar Electronics Program
Answer: C) India Semiconductor Mission

Event and Location:

• Event: Cabinet approved four semiconductor projects under India Semiconductor Mission
• Location: Odisha, Punjab, Andhra Pradesh
• Date: August 12, 2025

Mandates and Objectives:

• Mandates: The Union Cabinet approved the establishment of four semiconductor plants in Odisha, Punjab, and Andhra Pradesh, with a total investment of ₹4,594 crore.
• Objectives: To strengthen India’s chip manufacturing ecosystem, reduce import dependence, boost domestic high-tech manufacturing, and promote self-reliance in the semiconductor sector.

Important Terms Explained:

• India Semiconductor Mission: A government initiative with a ₹76,000 crore outlay aimed at developing a sustainable semiconductor and display manufacturing ecosystem in India.
• Semiconductor Plants: Industrial facilities that manufacture integrated circuits and chips used in electronics, automotive, defence, and communication technologies.
• Silicon Carbide (SiC): A compound used in power semiconductor devices due to its high thermal conductivity and efficiency in high-voltage applications.
• Chip Packaging Plant: A facility where semiconductor chips are assembled and tested before integration into electronic devices.
• 3D Glass Manufacturing: Advanced technology for producing ultra-thin, flexible, or structured glass, often used in chip packaging, display panels, and optics.

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24. What is the estimated cost of the recently approved Lucknow Metro Phase-1B project?
A) ₹4,801 crore
B) ₹6,200 crore
C) ₹5,801 crore
D) ₹3,940 crore
E) ₹5,500 crore
Answer: C) ₹5,801 crore

Event and Location:

• Event: Cabinet approved Phase-1B of the Lucknow Metro Rail Project
• Location: Lucknow, Uttar Pradesh
• Date: August 12, 2025

Mandates and Objectives:

• Mandates: The Union Cabinet approved Phase-1B of the Lucknow Metro Project covering 11.165 km with 12 stations, at an estimated cost of ₹5,801 crore, expanding the total Metro network in Lucknow to 34 km.
• Objectives: To improve urban mobility, enhance connectivity in Old Lucknow, reduce traffic congestion, promote economic and tourism growth, and build sustainable infrastructure for future urban development.

Important Terms Explained:

• Lucknow Metro Phase-1B: A proposed extension of the city’s metro rail network, featuring 11.165 km of additional metro lines, including 7 underground and 5 elevated stations, targeting dense and heritage-rich areas.
• Union Cabinet: The highest decision-making body in the Government of India chaired by the Prime Minister, which approves major infrastructure and public service projects.
• Urban Mobility: The ease with which people can move within a city; the metro aims to boost this by connecting congested and historic areas.
• Sustainability: The project emphasizes eco-friendly transport by reducing reliance on personal vehicles, lowering emissions, and improving quality of life.

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25. What is the primary objective of the BSF’s ‘Operation Alert’ launched ahead of Independence Day 2025?
A) Rescue civilians from border villages
B) Test new surveillance drones
C) Strengthen border security and monitor threats
D) Launch infrastructure projects
E) Organize cultural events at the border
Answer: C) Strengthen border security and monitor threats

Event and Location:

• Event: Launch of ‘Operation Alert’ by BSF ahead of Independence Day
• Location: Rajasthan border and nearby areas under BSF sector south
• Date: August 11–17, 2025

Mandates and Objectives:

• Mandates: The Border Security Force (BSF) initiated Operation Alert to secure India’s western frontier in Rajasthan before Independence Day 2025, involving strict border management, patrols, SOP drills, and counterplanning based on surveillance intelligence.
• Objectives: To prevent and neutralize any cross-border threats, enhance surveillance, and ensure readiness of all forces ahead of the Independence Day celebrations on August 15.

Important Terms Explained:

• Operation Alert: A tactical BSF operation conducted in the lead-up to sensitive national events like Independence Day, focused on intensified security patrols, SOP rehearsals, and border vigilance.
• Standard Operating Procedures (SOPs): Defined methods and protocols followed by security forces to manage operations; revised regularly for effectiveness and preparedness.
• Har Ghar Tiranga Campaign: A Government of India initiative encouraging citizens to hoist the national flag at home, promoting patriotism and unity, observed from August 2 to 15 annually.
• BSF (Border Security Force): India’s primary border guarding force, responsible for ensuring the security of borders with Pakistan and Bangladesh.

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Over All Review

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