Daily Current Affairs 05th & 06th October 2025 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India launches scheme to expedite payout and reactivation of inoperative accounts and unclaimed deposits

• The Reserve Bank of India (RBI) has launched the ‘Scheme for Facilitating Accelerated Payout – Inoperative Accounts and Unclaimed Deposits’ to encourage the activation of dormant accounts and settlement of unclaimed deposits.
• The scheme aims to reduce existing unclaimed deposits and prevent fresh accretions to the Depositor Education and Awareness (DEA) Fund.

Key Highlights :

• The scheme duration is one year – from October 1, 2025, to September 30, 2026.
• It covers all banks registered under the DEA Fund Scheme, including inoperative accounts and unclaimed deposits lying with the fund.
• Banks are eligible for payout when accounts are reactivated or unclaimed deposits settled during the scheme period.
• Banks must submit quarterly claims in the prescribed format within one month of the quarter’s end, signed by a Senior Executive, and sent via email and post.

Differential Payout Structure (Based on Account Age) :

• The age of the account is calculated from the date it became inoperative.
• Claims will be subject to audit/inspection, and RBI will settle payouts within 30 days of claim submission.

National Highways Authority of India to set up QR code signboards displaying project details along National Highways

• State-owned National Highways Authority of India (NHAI) announced on October 3, 2025, the installation of project information signboards with Quick Response (QR) codes along National Highway stretches to provide relevant information and emergency helpline numbers to commuters.
• The initiative is aimed at promoting digital transformation, transparency, and commuter convenience, under the government’s focus on smart infrastructure and technology-driven governance.

Key Highlights :

• The vertical QR Code Sign Boards will display project-specific information, including the National Highway number, highway chainage, and contact numbers for Highway Patrol, Toll Manager, Resident Engineer, and Emergency Helpline 1033.
• The QR boards will also provide details on project length, construction and maintenance timelines, and NHAI Field Office contacts for transparency and monitoring.
• The boards will guide users to nearby facilities such as hospitals, petrol pumps, toilets, police stations, restaurants, vehicle repair shops, truck lay-byes, and e-charging stations, along with distance to upcoming toll plazas.
• The QR code signboards will be installed at wayside amenities, rest areas, toll plazas, truck lay-byes, highway start and end points, and major signboards for maximum visibility and utility.
• The initiative enhances road safety by improving communication and accessibility during emergencies and ensuring on-road preparedness.
• The integration of Emergency Helpline 1033 ensures quick response during accidents or breakdowns on highways.
• The initiative will significantly boost user experience, road safety, and awareness about National Highway projects across the country.

TATA AIG partners with Equitas Small Finance Bank for bancassurance distribution to expand insurance reach

• TATA AIG General Insurance partnered with Equitas Small Finance Bank (SFB) for bancassurance distribution, expanding its reach through the bank’s network.
• Under the partnership, Equitas SFB customers can now access TATA AIG’s motor, health, personal accident, travel, and other general insurance products directly through the bank’s branches.
• TATA AIG General Insurance is a joint venture between TATA Group and American International Group (AIG) and has been operating in India since 2001.
• MD and CEO of Equitas Small Finance Bank Limited : P. N. Vasudevan.

OpenAI hits $500 billion valuation after major SoftBank share sale, marking historic AI industry milestone

• OpenAI, the creator of ChatGPT, has achieved a $500 billion valuation after a major secondary share sale to SoftBank, marking a historic milestone in the AI industry.
• The transaction involved $6.6 billion worth of shares sold by current and former employees, showing strong investor confidence and rapid company growth.
• The valuation jump from $300 billion to $500 billion reflects global trust in OpenAI’s leadership in the artificial intelligence sector.
• The secondary share sale did not dilute OpenAI’s capital, instead providing liquidity for early stakeholders and employees.
• OpenAI authorized over $10 billion in shares for secondary market sales, proving high demand for its equity.
• In the first half of 2025, OpenAI generated $4.3 billion in revenue, 16% higher than its total 2024 revenue, indicating strong financial performance.
• With its new valuation, OpenAI ranks among the world’s top private tech companies, alongside ByteDance and SpaceX.

Bank of Baroda introduces eRUPI person-to-person digital gifting feature on UPI

• Bank of Baroda (BoB) has launched a new digital gifting feature through its bob इ Pay UPI app, introducing person-to-person (P2P) eRUPI digital vouchers powered by NPCI’s e-RUPI platform.
• This is the first-of-its-kind feature in the Indian banking industry, aimed at making gifting simple, secure, and cashless.
• Customers can send purpose-specific prepaid vouchers to friends, family, or beneficiaries directly through the app.
• The voucher value ranges from ₹1 to ₹10,000, providing flexibility for different gifting needs.
• These vouchers are non-transferable and will be automatically refunded if not redeemed within the validity period.
• There is no limit on the number of vouchers a user can send, but daily UPI transaction limits will continue to apply.
• According to BoB, the eRUPI P2P digital voucher offers a private, safe, and inclusive way of gifting, ensuring that funds are used only for the intended purpose.

About Bank of Baroda (BoB):

• Founded: 1908
• Headquarters: Vadodara, Gujarat, India
• Managing Director & CEO: Debadatta Chand
• Tagline: “India’s International Bank”

Reserve Bank of India approves Greece’s Eurobank to open first representative office in Mumbai by December 2025

• Greece’s Eurobank, with €100 billion in assets, has received Reserve Bank of India (RBI) approval to open a representative office in Mumbai by mid-December 2025, marking its first physical presence in India.
• The move aligns with the India–Middle East–Europe Economic Corridor (IMEC), enabling financing opportunities and stronger trade linkages for Eurobank.
• Eurobank is also expanding into Israel, Saudi Arabia, and the UAE to strengthen its presence across IMEC economies.
• The India–Greece–Cyprus (IGC) Business Council and Greece’s push for port privatisation and green energy corridors highlight rising investment prospects between the two nations.

Bank of India launches ‘BOI Trade Easy’ with Cashinvoice to offer fast-track loans for MSMEs  

• Bank of India (BOI) has launched a fast-track loan service ‘BOI Trade Easy’ in partnership with Cashinvoice, a supply chain finance technology company, to provide quicker credit access to MSMEs.
• The ‘BOI Trade Easy’ platform enables Micro, Small, and Medium Enterprises (MSMEs) to receive loan approvals within 30 minutes, compared to the traditional 15–30 day process.
• The platform leverages automated digital credit assessments, ensuring a faster, transparent, and efficient loan process for MSMEs.
• Bank of India aims to disburse ₹1,000 crore in working capital loans through the platform within 4 to 6 months, potentially benefiting over 2 lakh MSMEs
• Co-founder and CEO of Cashinvoice : Arun Poojari

About Bank of India:

• Founded: 1906
• Headquarters: Mumbai, Maharashtra, India
• Managing Director & CEO: Rajneesh Karnatak
• Tagline: “Relationships Beyond Banking”

Life Insurance Corporation of India signs Memorandum of Understanding with Rural Development Ministry to promote Bima Sakhi Yojana in rural India

• The Life Insurance Corporation of India (LIC) has signed a Memorandum of Understanding (MoU) with the Department of Rural Development, Ministry of Rural Development, Government of India, to promote its Bima Sakhi Yojana in rural areas.
• The MoU was signed during the National Conclave on Financial Inclusion – “Anubhuti”, held from 8th to 10th July 2025 in Goa, organized by the Ministry of Rural Development.
• LIC’s Bima Sakhi Yojana is a women-centric initiative aimed at empowering women through insurance distribution, offering them a performance-based stipendiary LIC agency career.
• Under the scheme, Bima Sakhi agents receive a monthly stipend of ₹7,000 in the first year, ₹6,000 in the second year, and ₹5,000 in the third year, subject to specific terms and conditions.
• The scheme ensures financial independence for women while extending all benefits and privileges of regular LIC agents, thus promoting gender-inclusive entrepreneurship.
• The partnership aligns the Bima Sakhi Yojana with the objectives of Deendayal Antyodaya Yojana – National Rural Livelihood Mission (DAY–NRLM), focusing on enhancing rural household incomes through women-led financial empowerment.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Prime Minister Shri Narendra Modi Lays Foundation for India’s First Joint-Venture Nuclear Power Project in Rajasthan

• Prime Minister Shri Narendra Modi laid the foundation stone of the Mahi Banswara Rajasthan Atomic Power Project in Banswara, Rajasthan.

Key Highlights

• The project is implemented by Anushakti Vidhyut Nigam Limited (ASHVINI), a joint venture of Nuclear Power Corporation of India Limited (NPCIL) and NTPC Limited, marking the first nuclear power project in India established by a joint venture of two Central Public Sector Enterprises (CPSEs).
• The Mahi Banswara project will comprise four 700 MW Pressurised Heavy Water Reactors (PHWRs), indigenously developed by NPCIL, set up in two phases:
  • Phase 1: Mahi Banswara 1 & 2 (2×700 MW)
  • Phase 2: Mahi Banswara 3 & 4 (2×700 MW)
• The total estimated cost is ₹42,000 crore, supporting India’s push for self-reliant and indigenous nuclear energy capacity.
• The project will enhance power generation in Rajasthan, contribute to clean energy transition, and strengthen India’s strategic energy infrastructure.

About Rajasthan:

• Capital: Jaipur
• Governor: Haribhau Bagade
• Chief Minister: Bajan Lal Sharma
• National Parks: Ranthambhore National Park, Sariska Tiger Reserve, Keoladeo National Park (Bharatpur Bird Sanctuary), Desert National Park
• Wildlife Sanctuaries: Kumbhalgarh Wildlife Sanctuary, Darrah Wildlife Sanctuary, Ranthambore Wildlife Sanctuary, Bassi Wildlife Sanctuary

Jawaharlal Nehru Port Authority Flags Off India’s First Fleet of Electric Heavy Trucks with Swappable Batteries

• The Union Minister of Ports, Shipping & Waterways (MoPSW), Shri Sarbananda Sonowal, inaugurated India’s first fleet of electric heavy trucks with swappable batteries at the Nhava Sheva Distribution Terminal, Jawaharlal Nehru Port Authority (JNPA).
• With this move, JNPA now hosts the largest electric vehicle (EV) truck fleet in any Indian port, supporting sustainable logistics and decarbonisation efforts.
• A heavy-duty battery swapping station was also commissioned to facilitate efficient operations.
• JNPA aims to convert 90% of its internal heavy truck fleet of about 600 vehicles by December 2026.
• During the event, a Memorandum of Understanding (MoU) was signed between JNPA and Isaac Centre for Public Policy (ICPP), Ashoka University, Delhi, to develop a reference framework for port authorities to determine tariffs through cost and port benchmarking across various cargo types and commodities.

Key Highlights

• A total of 50 EV trucks were flagged off, with plans to expand the fleet to 80 by year-end. These trucks will reduce operational emissions, particulate pollution, and noise, while improving efficiency in cargo movement.
• The initiative supports India’s net-zero commitment by 2070, the National Electric Mobility Mission Plan (NEMMP), and broader energy transition objectives under PM Gati Shakti and the National Logistics Policy (NLP).
• The EV truck fleet demonstrates commercial-scale adoption of electric mobility, sets a replicable benchmark for other major and non-major ports, and integrates sustainability with operational excellence.
• Port Authority Leadership: Shri Unmesh Sharad Wagh, Chairperson, JNPA and CMD, VPLL, emphasized that this fleet represents a paradigmatic shift towards greener and resilient port operations, aligning economic dynamism with ecological responsibility.

National Initiative on Water Security Launched by Union Ministers Shri Shivraj Singh Chouhan and Shri C.R. Patil

• Union Minister for Rural Development, Agriculture & Farmers’ Welfare Shri Shivraj Singh Chouhan and Union Jal Shakti Minister Shri Chandrakant Raghunath Patil jointly launched the ‘National Initiative on Water Security’ at Krishi Bhawan, New Delhi.
• The event was attended by Union Minister of State for Rural Development Shri Kamlesh Paswan, Rural Development Secretary Shri Shailesh Singh, and senior officials from both ministries. Representatives from rural blocks and district magistrates across the country participated virtually.
• Shri Shivraj Singh Chouhan announced that under the guidance of Prime Minister Shri Narendra Modi, water security has been made a national priority under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).
• Amendments have been made to the Schedule of the MGNREGA Act, 2005, giving priority to water-related works in water-stressed rural blocks, ensuring mandatory expenditure on water conservation and harvesting.
• As per the new mandate:
  • In over-exploited blocks, 65% of MGNREGA funds will be used for water-related works.
  • In semi-critical blocks, 40% of funds will be allocated to water conservation.
  • Even in blocks without water scarcity, at least 30% of funds will be directed toward water-related works.

Background and Impact:

• The initiative builds upon the achievements of MGNREGA over the past 11 years (since 2014) — recognized as the world’s largest social welfare programme.
• During this period, MGNREGA has spent ₹8.4 lakh crore, generating over 3,000 crore person-days of employment.
• Women’s participation in the workforce under MGNREGA has increased from 48% in 2014 to 58% in 2025.
• Over 1.25 crore water conservation assets — including farm ponds, check dams, and community tanks — have been created, significantly reducing the number of water-stressed rural blocks.
• Under Mission Amrit Sarovar, more than 68,000 reservoirs have been constructed or rejuvenated in the first phase.
• The National Initiative on Water Security thus reinforces India’s commitment to sustainable water management, rural prosperity, and climate resilience, ensuring long-term water availability for future generations.

People’s Plan Campaign (PPC) 2025–26: “Sabki Yojana, Sabka Vikas” Launched by Ministry of Panchayati Raj

• The Ministry of Panchayati Raj (MoPR) will launch the People’s Plan Campaign (PPC) 2025–26: “Sabki Yojana, Sabka Vikas” Abhiyaan across all States and Union Territories.
• The campaign will begin the process of preparing Panchayat Development Plans (PDPs) for the Financial Year 2026–27.
• Launched originally in 2018, the campaign enables Panchayats to prepare evidence-based, convergent, and inclusive development plans that reflect local priorities while aligning with national goals through Special Gram Sabha meetings.
• As per data from the eGramSwaraj Portal, over 18.13 lakh Panchayat Development Plans (PDPs)—including Gram Panchayat Development Plans (GPDPs), Block Panchayat Development Plans (BPDPs), and District Panchayat Development Plans (DPDPs)—have been uploaded since 2019–20, with 2.52 lakh plans pertaining to the ongoing 2025–26 exercise.
• The MoPR has initiated virtual interactions with State/UT departments and stakeholders to ensure smooth preparation for the campaign.
• Shri Sushil Kumar Lohani, Additional Secretary, MoPR, chaired a virtual meeting with States/UTs and State Institutes of Rural Development and Panchayati Raj (SIRD&PRs) to review preparations and discuss the roll-out strategy.
• To ensure convergence and grassroots participation, 20 Line Ministries/Departments have been requested to direct their State/UT departments for active participation in Special Gram Sabha meetings.
• States/UTs have been directed to activate monitoring platforms, appoint nodal officers, train facilitators, finalize Gram Sabha schedules, and display Public Information Boards by September-end 2025.
• Special Gram Sabhas convened on 2nd October 2025 will formally mark the commencement of PPC 2025–26.

Museum Dedicated to Artist A. Ramachandran Inaugurated in Kerala

• A museum dedicated to one of India’s most celebrated modern artists, A. Ramachandran, was inaugurated by Kerala Chief Minister Pinarayi Vijayan in Kollam, Kerala.
• The museum is housed within the Sree Narayana Guru Cultural Complex in Kollam, reflecting the region’s strong artistic and cultural heritage.
• The initiative serves as a tribute to A. Ramachandran’s legacy, following his demise in February 2024 at the age of 88.
• A. Ramachandran (1935–2024) was renowned for blending urban realism with mythical storytelling, merging modernist experimentation with traditional Indian art forms.
• His early artworks depicted human suffering and social conflict, while his later works celebrated nature, mythology, and the resilience of rural life.
• Deeply inspired by Kerala mural art and the tribal culture of the Bhils in Rajasthan, his large-scale compositions are among the most vibrant in post-independence Indian art.
• The museum aims to showcase original paintings, drawings, and sketches, along with multimedia presentations, photographs, and texts that highlight his artistic journey.
• It will also feature educational programs and workshops to inspire new generations of artists.
• The museum is envisioned as a dynamic cultural hub—not just a repository but a space for art education and engagement with Indian visual traditions.
• The initiative is part of Kerala’s broader efforts to preserve artistic heritage and promote public participation in the visual arts.
• A. Ramachandran also served as a professor at Jamia Millia Islamia, shaping many young artists through his teaching and mentorship.

About Kerala:

• Chief Minister: Pinarayi Vijayan
• Governor: Rajendra Vishwanath Arlekar
• Capital: Thiruvananthapuram
• National Parks: Eravikulam National Park, Periyar Wildlife Sanctuary, Silent Valley National Park, Parambikulam Tiger Reserve
• Wildlife Sanctuaries: Wayanad Wildlife Sanctuary, Idukki Wildlife Sanctuary, Chilika Lake Wildlife Sanctuary

RECENT NEWS

• In a landmark announcement, Kerala Chief Minister declared the state as India’s first fully digitally literate state, achieving a significant milestone under the Digi Kerala project. This recognition marks not only the completion of Phase I of the initiative but also Kerala’s leadership in bridging the digital divide through grassroots participation and inclusive training.

National Highways Authority of India to Install QR Code Sign Boards on National Highways

• The National Highways Authority of India (NHAI) has announced the installation of QR Code Sign Boards across National Highway stretches, marking a major step toward digital transformation and commuter convenience.
• This initiative, launched under the broader goal of promoting ‘Ease of Commuting’, aims to enhance transparency, road safety, and real-time information access for highway users.
• It aligns with the Government of India’s vision of smart infrastructure and technology-driven governance.

Key Highlights

• The QR Code Sign Boards will provide project-specific details and emergency contact information through a simple scan, helping commuters access key information instantly.
• Each QR code will display details such as National Highway number, chainage (location markers), project length, construction or maintenance timelines, and important contact numbers including Highway Patrol, Toll Manager, Project Manager, Resident Engineer, and the Emergency Helpline (1033).
• The QR boards will guide users to nearby hospitals, petrol pumps, toilets, police stations, restaurants, vehicle repair shops, truck lay-byes, and electric vehicle charging stations, along with the distance to upcoming toll plazas.
• Boards will be installed at wayside amenities, toll plazas, truck lay-byes, highway start and end points, and major signboards to ensure maximum visibility and utility.
• The initiative improves emergency preparedness by allowing highway users to instantly contact patrol teams or engineers, access medical and police facilities, and receive real-time assistance through the 1033 helpline.
• The move will significantly boost transparency, road safety, and user experience, reinforcing NHAI’s commitment to developing smart and connected highways across India.

RECENT NEWS

• India’s infrastructure financing landscape witnessed a significant shift as Insurance Surety Bonds (ISBs) issued for National Highways Authority of India (NHAI) contracts surpassed the ₹10,000 crore mark. As of July 2025, 12 insurance companies have issued approximately 1,600 ISBs as Bid Security and 207 as Performance Security, amounting to a total value of ₹10,369 crore.

National Conference on Land Administration and Disaster Management Held in Gandhinagar, Gujarat

• A two-day National Conference on Land Administration and Disaster Management began at Mahatma Mandir, Gandhinagar, Gujarat.
• The conference focuses on modernising land governance, enhancing disaster resilience, and ensuring citizens’ land rights through digitisation and innovation.
• It is organised by the Department of Land Resources (DoLR) under the Ministry of Rural Development (MoRD) in collaboration with the Revenue Department of Gujarat.
• During the inaugural session, Chief Minister Bhupendra Patel emphasised the importance of digitising land records and using indigenous technology for a citizen-centric land administration system. The conference provides a platform for states and Union Territories to exchange best practices and innovations in the field of land and disaster management.

Key Highlights

• New revenue offices were inaugurated, along with the launch of the Revenue Diary and Integrated Land Administration (ILA) System to streamline land record management, registration, court case handling, and resurvey workflows through a unified digital interface.
• SVAMITVA Scheme Implementation: SVAMITVA cards were distributed to families from nomadic tribes, securing their property ownership rights under the Survey of Villages and Mapping with Improvised Technology in Village Areas (SVAMITVA) scheme.
• Revenue officers and domain experts from across India participated in panel discussions and thematic sessions to share insights on policy reforms and institutional development.
• Discussions centred around modernising revenue laws, digitising registration systems, urban land mapping using GIS and remote sensing, reforms in land acquisition and revenue courts, and linking disaster risk management with land use planning and resilient infrastructure.
• The event supports initiatives such as the Digital India Land Records Modernisation Programme (DILRMP) to strengthen digital governance, accountability, and transparency in land administration.

About Gujarat:

• Chief Minister: Bhupendra Patel
• Governor: Acharya Devvrat
• Capital: Gandhinagar
• National Parks: Gir National Park, Blackbuck National Park, Vansda National Park, Marine National Park
• Wildlife Sanctuaries: Nal Sarovar Bird Sanctuary, Velavadar Blackbuck Sanctuary, Kutch Desert Wildlife Sanctuary, Barda Wildlife Sanctuary, Purna Wildlife Sanctuary

CURRENT AFFAIRS : INTERNATIONAL NEWS

India and China to resume direct flights between designated cities by late October 2025

• India and China have agreed to resume direct air services between designated points in both countries by late October 2025, marking a major step toward normalizing diplomatic and people-to-people exchanges.
• The announcement was made by the Ministry of External Affairs (MEA) after technical-level discussions between the civil aviation authorities of India and China.
• Direct air links between the two countries were suspended during the COVID-19 pandemic and remained disrupted due to border tensions after 2020.
• The resumption of flights reflects a broader governmental effort to gradually restore bilateral ties in sectors like trade, tourism, education, and diplomacy.
• The MEA stated that both sides have been working since early 2025 to revise the Air Services Agreement, which governs aviation connectivity between the two nations.
• The agreement provides for the resumption of direct air services between designated cities in India and China, with implementation aligned to the Winter Schedule starting in late October 2025.
• Although specific airlines and routes have not been officially announced, the move is expected to restore connectivity between major hubs such as Delhi, Mumbai, Beijing, and Shanghai.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Shobha Gupta Takes Over as Director General of Defence Estates

• Smt Shobha Gupta, a 1990 batch IDES officer, assumed charge as Director General of Defence Estates (DGDE) on September 30, 2025.
• She has held key positions including CEO of Cantonment Boards, Defence Estates Officer, Director Defence Estates (Central Command), and Principal Director Defence Estates in South-West and Western Commands.
• The DGDE manages about 18 lakh acres of defence land across India under six Commands, 38 Defence Estates Circles, and 61 Cantonment Boards.

Government appoints Asheesh Pandey as MD & CEO of Union Bank of India and Kalyan Kumar as MD & CEO of Central Bank of India for three years

• The Government of India has appointed Asheesh Pandey as Managing Director (MD) and Chief Executive Officer (CEO) of Union Bank of India and Kalyan Kumar as MD and CEO of Central Bank of India for a three-year term.
• The appointments were approved by the Appointments Committee of the Cabinet (ACC), headed by the Prime Minister, for an initial period of three years.
• Asheesh Pandey, currently Executive Director at Bank of Maharashtra, will take charge as MD and CEO of Union Bank of India upon assumption of office.
• Kalyan Kumar, Executive Director of Punjab National Bank (PNB), will succeed M. V. Rao as MD and CEO of Central Bank of India after Rao’s superannuation in July.
• The Financial Services Institutions Bureau (FSIB) had on May 30, 2025, recommended Asheesh Pandey and Kalyan Kumar for their respective posts in Union Bank of India and Central Bank of India.
• The FSIB is headed by Bhanu Pratap Sharma, former Department of Personnel and Training Secretary, and plays a key role in selecting top executives for public sector banks.

CURRENT AFFAIRS: AWARDS AND HONOURS

India Wins ISSA Award 2025 for Expanding Social Security Coverage

• India has been honoured with the International Social Security Association (ISSA) Award 2025 for its “Outstanding Achievement in Social Security”, recognising the country’s success in expanding social security coverage nationwide.
• The award was presented at the World Social Security Forum (WSSF) 2025 held in Kuala Lumpur, which saw participation from over 1,200 policymakers and professionals representing 163 countries.
• Union Minister Mansukh Mandaviya highlighted India’s remarkable progress — expanding social security coverage from 19% in 2015 to 64.3% in 2025, now reaching over 940 million citizens.
• This transformation has also been officially recognised by the International Labour Organization (ILO).

Key Highlights

• Digital Public Infrastructure: The expansion has been driven by India’s focus on robust digital systems.
  • e-Shram Portal: A national database connecting over 310 million unorganised sector workers with social welfare schemes in multiple languages.
  • National Career Service (NCS): Integrated with e-Shram, linking skilled youth with employers, enabling access to global job opportunities without losing social security benefits.
• The Employees’ Provident Fund Organisation (EPFO) and Employees’ State Insurance Corporation (ESIC) have played a key role in providing pension, healthcare, insurance, and other benefits to India’s organised and unorganised workforce.
• India’s approach to social protection is holistic, combining policy reforms, process improvements, and digital innovation.
• The government aims to strengthen the link between financial inclusion, skill development, self-employment, and social protection, establishing them as interconnected pillars of inclusive growth.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Steel Authority of India Limited Collaborates with Indian Institute of Management Jammu for Executive Education Programmes

• Steel Authority of India Limited (SAIL), through its Management Training Institute (MTI), signed a Memorandum of Understanding (MoU) with the Indian Institute of Management (IIM) Jammu at SAIL’s Corporate Office, Ispat Bhawan, New Delhi.

Key Highlights

• The collaboration focuses on Executive Education Programmes to develop future-ready leaders and strengthen organizational capacity.
• It aims to adopt global best practices and advance nation-building through leadership excellence.
• The MoU was signed by Shri Sanjay Dhar, Officiating Executive Director (HR-L&D), MTI, SAIL, and Cmdr Kesavan Baskkaran (R), Chief Administrative Officer, IIM Jammu, in the presence of Shri K. K. Singh, Director (Personnel), SAIL.
• Shri B. S. Popli, Executive Director (HR), SAIL, and Dr. Rajesh Sikka from IIM Jammu were also present, highlighting the institutional commitment to leadership development and capacity building.

Department of Telecommunications and Financial Intelligence Unit-India Sign MoU to Strengthen Telecom Cybersecurity and Prevent Financial Frauds

• The Department of Telecommunications (DoT) and Financial Intelligence Unit-India (FIU-IND) signed a Memorandum of Understanding (MoU) to enhance real-time information sharing and coordination, aimed at curbing cyber-crimes and financial frauds.
• The MoU was signed by Shri Sanjeev Kumar Sharma, Deputy Director General (AI & Digital Intelligence Unit – DIU), DoT, and Shri Amit Mohan Govil, Director, FIU-IND, in the presence of Neeraj Mittal, Secretary (Telecom), and Shri Arvind Shrivastava, Secretary (Revenue).
• The partnership establishes a collaborative intelligence framework between DoT’s Digital Intelligence Unit and India’s apex financial intelligence agency.

Key Highlights

• The collaboration enables real-time data sharing of Financial Fraud Risk Indicator (FRI) for mobile numbers, Mobile Number Revocation List (MNRL), and mobile numbers linked to Suspicious Transaction Reports (STRs).
• Advanced technology platforms such as DoT’s Digital Intelligence Platform (DIP) and FIU-IND’s Finnex 2.0 portal facilitate secure, system-based data exchange.
• The MoU strengthens India’s telecom cybersecurity ecosystem by enabling proactive detection and prevention of financial frauds and protecting digital transactions.
• Using FRI and inputs from the Chakshu platform (Sanchar Saathi), law enforcement agencies, and financial institutions, authorities can identify and act against fraudulent mobile connections before financial damage occurs.
• DIU’s AI and big data solutions such as ASTR, CIOR, Sanchar Saathi portal & app, and FRI have helped disconnect 2.84 crore fraudulent mobile connections and prevented 48 lakh transactions, saving ₹140 crore.
• The collaboration will also develop Standard Operating Procedures (SOPs), feedback mechanisms, and red-flag indicators for financial institutions to enhance fraud detection analytics at the national level.
• Continuous consultation between DoT and FIU-IND will ensure adaptability to emerging cyber threats and safeguard India’s growing digital economy.

About Agencies

• Financial Intelligence Unit-India (FIU-IND): Central agency responsible for receiving, processing, analyzing, and disseminating information on suspicious financial transactions, coordinating against money laundering and terrorism financing.
• Digital Intelligence Unit (DIU), DoT: Specialized wing implementing AI and big data analytics solutions to prevent misuse of telecom resources in cyber-crimes and financial frauds.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Navy’s First Training Squadron Visits Mombasa Port, Kenya

• First Training Squadron (1TS) ships – INS Tir, INS Sujata, INS Shardul, and ICGS Sarathi – made a port call at Mombasa, Kenya on 25 September 2025.
• The ships were warmly received by the Kenya Navy, the Defence Advisor, and the Acting High Commissioner of India.
• The Squadron was on a long-range training deployment to the South West Indian Ocean Region, after visits to Seychelles, Mauritius, La Réunion, and Mozambique.
• During the visit, personnel from both navies engaged in professional and social interactions.
• Joint activities included joint training exercises, Maritime Partnership Exercise (MPX), and Passage Exercise (PASSEX).

Indian Air Force Retires MiG-21 Fighter Jets with Final Squadrons Decommissioned in Chandigarh

• On September 26, 2025, the Indian Air Force (IAF) formally retired its iconic MiG-21 fighter jets, with the last two squadrons — 23 (Panthers) and No. 3 (Cobras), operating 36 jets, decommissioned in Chandigarh.
• The retirement marks the end of a Soviet-era legacy and highlights the IAF’s shrinking squadron strength, posing challenges for fleet modernisation.
• MiG-21s, inducted in 1963, were the backbone of the IAF, participating in the 1965, 1971, and Kargil wars.
• With their retirement, the IAF’s strength fell to 29 fighter squadrons, well below the sanctioned 42 squadrons (target never met).
• To address this, the IAF is relying on indigenous aircraft, operating two Tejas Mk1 squadrons and is set to induct 180 upgraded Tejas Mk1A jets from HAL.
• Additionally, HAL is developing Tejas Mk2 and the fifth-generation stealth Advanced Medium Combat Aircraft (AMCA), expected in the next decade.
• The MiG-21 Bison was the first fighter jet flown by women in the IAF, and its final flypast over Chandigarh was led by Squadron Leader Priya Sharma.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Supreme Court Clears JSW Steel’s $2.3 Billion Acquisition of Bhushan Power and Steel, Reverses Liquidation Order

• The Supreme Court of India approved JSW Steel’s $2.3 billion (₹19,350 crore) acquisition of Bhushan Power and Steel (BPSL), reversing its earlier decision of liquidation.
• The judgment strengthens the Insolvency and Bankruptcy Code (IBC), 2016 by prioritising revival of distressed firms over liquidation.
• BPSL, acquired by JSW in 2021, has consistently contributed to the company’s revenue and profits.
• The Corporate Insolvency Resolution Process (CIRP) under Section 6 of the IBC can be initiated by either a creditor or the corporate debtor in case of loan default.
• The default threshold for initiating CIRP was increased from ₹1 lakh to ₹1 crore during the pandemic to prevent unnecessary insolvency cases.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Equal AI launches India’s first multilingual AI Call Assistant to handle unknown calls beyond spam detection

• Hyderabad-based Equal AI has launched India’s first AI Call Assistant, capable of answering unknown calls in English, Hindi, and Hinglish, moving beyond caller ID and spam detection.
• The app was launched on October 2, 2025, with an early access programme for the first 10,000 Android users in Delhi NCR, and the company targets 1 million daily users by March 2026.
• A phased rollout is planned in Mumbai, Bengaluru, and Hyderabad during the fourth quarter of 2025, with iOS support to be added soon.
• With spam calls impacting 60% of Indians daily, Equal AI’s trials achieved a 94% spam detection rate, 87% fewer interruptions, and zero false positives for saved contacts, showcasing high efficiency and accuracy.

CURRENT AFFAIRS : OBITUARIES

Freedom Fighter and Socialist Stalwart Dr. G G Parikh Passed Away at 100 in Mumbai on Gandhi Jayanti

• G G Parikh, a freedom fighter, Gandhian, and socialist leader, passed away in Mumbai on October 2, 2025, at the age of 100, coinciding with Gandhi Jayanti.
• He was often called the “Saint of the Socialists” for his simplicity, commitment, and moral courage.

About Dr. G G Parikh :

• Born on December 30, 1924, in Surendranagar, Gujarat, Parikh trained as a medical practitioner but devoted his life to activism and social reform.
• He participated in the Quit India Movement (1942), was arrested, and spent 10 months in prison.
• In 1946, he became a cadet member of the Congress Socialist Party, which shaped post-independence socialist and Janata movements.
• After independence, he was President of the Bombay Students’ Congress (1947) and contributed to student, trade union, and cooperative movements.
• In the 1950s, he led the socialist weekly “Janata”, promoting economic justice, democratic values, and Gandhian ethics.
• He co-founded the Yusuf Meherally Centre (1961) in Raigad, Maharashtra, focusing on rural development, political education, and social innovation.
• During the Emergency (1975–77), Parikh was imprisoned for resisting authoritarianism, symbolizing socialist resistance.

CURRENT AFFAIRS: IMPORTANT DAYS

World Teachers Day is celebrated on the 5th October

• World Teachers Day or International Teachers Day is celebrated on the 5th October of every year. 
• World Teachers Day is celebrated to honor teachers and appreciate the effort that they put into shaping young individuals.
• The World Teachers’ Day 2025 theme is “Recasting teaching as a collaborative profession,”

History

• World Teachers Day was established by the United Nations Educational, Scientific and Cultural Organization (UNESCO) in the year of 1994.
• World Teachers Day was organized on the 5th of October in order to commemorate the signing of the status of the teacher by UNESCO/ILO in the year of 1966.
• World Teachers Day is observed with the aim of focusing on “appreciating, assessing and improving the educators of the world.”
• This day was observed by the Teacher’s organizations all over the world.

6th October is observed as a World Cerebral Palsy.

• Every year 6th October is observed as a World Cerebral Palsy.
• World Cerebral Palsy Day is observed in order to remember that over 17 million people were affected by this disorder
• The theme for World Cerebral Palsy Day in 2025 is # UniqueAndUnited.

History

• In 1853, Dr. John Little recognized and studied Cerebral Palsy.
• Around 1861, he presented his research to the Obstetrical Society of London and he provided the first definition of Cerebral Palsy.
• Dr. Little said that Cerebral Palsy may occur at birth due to difficult labor. Dr. Sigmund Freud was the first person who stated that Cerebral Palsy may be caused by abnormal development before birth.
• With a small thrust “Change My World in One Minute” World Cerebral Palsy Alliance and United Cerebral Palsy created World Cerebral Palsy Day in the year of 2012.

World Habitat Day is observed on the first Monday of October

• World Habitat Day is observed on the first Monday of October of every year. This year World Habitat Day is celebrated on the 6th of October, 2025.
• The theme for World Habitat Day 2025 is “Urban Crisis Response”.
• World Habitat Day is observed in order to remind people about their responsibility to maintain the future of our habitats.

History

• In 1985, The UN General Assembly adopted resolution 40/202 and established World Habitat Day on the first Monday of October.
• Since 1986, World Habitat Day has been celebrated on the First Monday of October of every year.
• This day is a global observance day, so every year it is held in different countries along with some specific theme. It was first celebrated in Nairobi, Kenya in the year of 1986 along with the theme “Shelter is my right”.

Daily CA One- Liner: October 5^th & 6^th

• Prime Minister Shri Narendra Modi laid the foundation stone of the Mahi Banswara Rajasthan Atomic Power Project in Banswara, Rajasthan
• The Union Minister of Ports, Shipping & Waterways (MoPSW), Shri Sarbananda Sonowal, inaugurated India’s first fleet of electric heavy trucks with swappable batteries at the Nhava Sheva Distribution Terminal, Jawaharlal Nehru Port Authority
• Union Minister for Rural Development, Agriculture & Farmers’ Welfare Shri Shivraj Singh Chouhan and Union Jal Shakti Minister Shri Chandrakant Raghunath Patil jointly launched the ‘National Initiative on Water Security’ at Krishi Bhawan, New Delhi
• The Ministry of Panchayati Raj (MoPR) will launch the People’s Plan Campaign (PPC) 2025–26: “Sabki Yojana, Sabka Vikas” Abhiyaan across all States and Union Territories
• A museum dedicated to one of India’s most celebrated modern artists, Ramachandran, was inaugurated by Kerala Chief Minister Pinarayi Vijayan in Kollam, Kerala
• The National Highways Authority of India (NHAI) has announced the installation of QR Code Sign Boards across National Highway stretches, marking a major step toward digital transformation and commuter convenience
• A two-day National Conference on Land Administration and Disaster Management began at Mahatma Mandir, Gandhinagar, Gujarat
• India has been honoured with the International Social Security Association (ISSA) Award 2025 for its “Outstanding Achievement in Social Security”, recognising the country’s success in expanding social security coverage nationwide.
• Steel Authority of India Limited (SAIL), through its Management Training Institute (MTI), signed a Memorandum of Understanding (MoU) with the Indian Institute of Management (IIM) Jammu at SAIL’s Corporate Office, Ispat Bhawan, New Delhi
• The Department of Telecommunications (DoT) and Financial Intelligence Unit-India (FIU-IND) signed a Memorandum of Understanding (MoU) to enhance real-time information sharing and coordination, aimed at curbing cyber-crimes and financial frauds.
• The Reserve Bank of India (RBI) has launched the ‘Scheme for Facilitating Accelerated Payout – Inoperative Accounts and Unclaimed Deposits’ to encourage the activation of dormant accounts and settlement of unclaimed deposits.
• State-owned National Highways Authority of India (NHAI) announced on October 3, 2025, the installation of project information signboards with Quick Response (QR) codes along National Highway stretches to provide relevant information and emergency helpline numbers to commuters.
• TATA AIG General Insurance partnered with Equitas Small Finance Bank (SFB) for bancassurance distribution, expanding its reach through the bank’s network.
• OpenAI, the creator of ChatGPT, has achieved a $500 billion valuation after a major secondary share sale to SoftBank, marking a historic milestone in the AI industry.
• Bank of Baroda (BoB) has launched a new digital gifting feature through its bob इ Pay UPI app, introducing person-to-person (P2P) eRUPI digital vouchers powered by NPCI’s e-RUPI platform.
• Greece’s Eurobank, with €100 billion in assets, has received Reserve Bank of India (RBI) approval to open a representative office in Mumbai by mid-December 2025, marking its first physical presence in India.
• Bank of India (BOI) has launched a fast-track loan service ‘BOI Trade Easy’ in partnership with Cashinvoice, a supply chain finance technology company, to provide quicker credit access to MSMEs.
• The Life Insurance Corporation of India (LIC) has signed a Memorandum of Understanding (MoU) with the Department of Rural Development, Ministry of Rural Development, Government of India, to promote its Bima Sakhi Yojana in rural areas.
• India and China have agreed to resume direct air services between designated points in both countries by late October 2025, marking a major step toward normalizing diplomatic and people-to-people exchanges.
• Smt Shobha Gupta, a 1990 batch IDES officer, assumed charge as Director General of Defence Estates (DGDE) on September 30, 2025.
• The Government of India has appointed Asheesh Pandey as Managing Director (MD) and Chief Executive Officer (CEO) of Union Bank of India and Kalyan Kumar as MD and CEO of Central Bank of India for a three-year term.
• First Training Squadron (1TS) ships – INS Tir, INS Sujata, INS Shardul, and ICGS Sarathi – made a port call at Mombasa, Kenya on 25 September 2025.
• On September 26, 2025, the Indian Air Force (IAF) formally retired its iconic MiG-21 fighter jets, with the last two squadrons — 23 (Panthers) and No. 3 (Cobras), operating 36 jets, decommissioned in Chandigarh.
• The Supreme Court of India approved JSW Steel’s $2.3 billion (₹19,350 crore) acquisition of Bhushan Power and Steel (BPSL), reversing its earlier decision of liquidation.
• Hyderabad-based Equal AI has launched India’s first AI Call Assistant, capable of answering unknown calls in English, Hindi, and Hinglish, moving beyond caller ID and spam detection.
• Dr. G G Parikh, a freedom fighter, Gandhian, and socialist leader, passed away in Mumbai on October 2, 2025, at the age of 100, coinciding with Gandhi Jayanti.
• World Teachers Day or International Teachers Day is celebrated on the 5th October of every year
• Every year 6th October is observed as a World Cerebral Palsy.
• World Habitat Day is observed on the first Monday of October of every year. This year World Habitat Day is celebrated on the 6th of October, 2025

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