Daily Current Affairs 29th October 2025 | Latest News | Download PDF

By Ameena Ameena - Oct 29 2025

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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

VFS Capital Pulls Back Its Application for Small Finance Bank Licence

  • VFS Capital, a microfinance institution, has withdrawn its Small Finance Bank (SFB) application submitted to the Reserve Bank of India (RBI).
  • The RBI confirmed the withdrawal in a recent statement, referencing its January 1, 2025 press release, which had listed VFS Capital among SFB applicants.
  • With the withdrawal, VFS Capital will not pursue conversion into a Small Finance Bank under the ‘on-tap’ licensing guidelines.
  • According to its official website, VFS Capital operates 284 branches, primarily in Eastern India.
  • The company had a loan portfolio of ₹942 crore as of March 2022, reflecting its moderate microfinance operations.

Paytm Enables NRIs from 12 Countries to Make UPI Payments Using International Mobile Numbers

  • Paytm has launched a new service for NRIs from 12 countries, enabling them to make UPI payments in India using international mobile numbers.
  • The feature eliminates the need for an Indian SIM card and is linked to NRE or NRO bank accounts.
  • NRIs can send money, pay merchants via QR codes, and shop on Indian platforms without currency conversion or international gateways.
  • The service is powered by NPCI, allowing instant fund transfers to UPI IDs or mobile numbers and avoiding remittance delays and forex charges.
  • It is currently available in Singapore, Australia, Canada, Hong Kong, Oman, Qatar, USA, Saudi Arabia, UAE, UK, France, and Malaysia, with plans for wider rollout.
  • The Paytm app includes additional features like UPI statements, AI-based expense tracking (Paytm Playback), payment privacy settings, and consolidated account viewing.

Small Industries Development Bank of India Survey Shows micro, small, and medium enterprises Remain Resilient Despite Slight Dip in Business Confidence

  • The Small Industries Development Bank of India’s (SIDBI’s) fourth MSME Outlook Survey indicates that India’s micro, small, and medium enterprise (MSME) remain resilient despite a slight moderation in business confidence during July–September 2025 (Q2FY26).

Key Highlights :

  • The Business Conditions Index (M-BCI) declined to 61.64 from 63.75 in the previous quarter, showing a modest dip in confidence among MSMEs.
  • The Business Expectations Index (M-BEI) is projected to rise to 62.26 in Q3FY26 and further to 66.57 by July–September 2026, reflecting optimism about stronger domestic demand and supportive government policies such as GST rate cuts.
  • All three sectoral indices — manufacturing, services, and trading — remained above the expansion threshold of 50, showing continued growth momentum.
  • Resilience and optimism are expected to continue into FY27, driven by domestic demand recovery and stable macroeconomic conditions.
  • Input cost pressures eased across sectors, especially in manufacturing and trading, supported by low wholesale inflation, while profitability remained stable with many MSMEs maintaining steady margins.
  • The survey highlighted improvements in Ease of Doing Business, though awareness gaps about Quality Control Orders (QCOs) continue to raise compliance costs for MSMEs.

Axis Bank and Hitachi Payment Launch India’s First Digital Banking Point ‘Express Banking’

  • Axis Bank, in partnership with Hitachi Payment Services, has launched Express Banking, India’s first-ever Digital Banking Point offering a full suite of branch banking services in a compact, digital-first format.
  • The omni-channel platform enables customers to access account opening, instant card issuance, loan applications, deposits, and bill payments 24×7 under one roof.
  • Each Digital Banking Point includes card printers, cheque and passbook depositors, NFC-enabled systems, and a secure, user-friendly interface with strong cybersecurity features.
  • Its modular and scalable design allows deployment in urban, semi-urban, and rural areas, including universities, hospitals, and corporate campuses, thereby enhancing financial inclusion.

RBI FAQs-Gold Monetization Scheme (GMS), 2015

  • Banks are not required to obtain RBI approval to participate in the Gold Monetization Scheme (GMS), 2015, but they must submit implementation details (CPTCs, refiners, and operating branches) and report gold mobilized monthly to the RBI.

Key Highlights :

Eligibility and Account Holding

  • Resident Indians including Individuals, HUFs, Firms, Trusts, Companies, and Government entities are eligible to make deposits under the scheme.
  • Joint deposits by two or more eligible depositors are allowed, following normal joint account and nomination rules.
  • KYC completion is mandatory before depositing gold unless the customer is already KYC compliant.
  • To make a deposit, customers must open a Gold Deposit Account with a designated bank.

Deposit Types and Discontinuation

  • The scheme offers three types of deposits:
    • Short Term Bank Deposit (STBD) (1–3 years).
    • Medium Term Government Deposit (MTGD) (5–7 years, 2.25% p.a.).
    • Long Term Government Deposit (LTGD) (12–15 years, 2.50% p.a.).
  • Mobilization of MTGD and LTGD (including renewal) has been discontinued from March 26, 2025, as per the Government of India’s press release dated March 25, 2025.
  • The existing MTGD/LTGD deposits remain valid till maturity and will continue under existing rules.
  • Banks can open MTGD/LTGD accounts only for deposits received on or before March 25, 2025.
  • Renewal of MTGD/LTGD deposits is not permitted after March 26, 2025.
  • Deposits can only be made under specified durations — STBD (1–3 years), and these can be renewed upon maturity.

Deposit Limits, Interest, and Repayment

  • The minimum deposit amount is 10 grams of gold (bars, coins, or jewellery excluding stones), and there is no maximum limit.
  • Interest accrues from the date of gold conversion into tradable bars or after 30 days of deposit, whichever is earlier.
  • Repayment on maturity may be made in gold or INR equivalent.
  • Interest is paid in INR based on the gold’s value at the time of deposit.
  • Partial gold repayments (less than one gram) can be settled in INR
  • If a customer rejects the purity result, jewellery will be returned in melted form after the fire assay test.

Premature Closure and Hedging

  • Premature closure before the minimum lock-in period is allowed only in cases of death of depositor or loan default (for MLTGD).
  • Depositors can avail rupee loans against Gold Deposit Certificates issued under GMS.
  • Banks are permitted to hedge their gold exposures arising from the operation of the scheme.
  • Interbank lending of gold mobilized under GMS is allowed among designated banks for similar authorized purposes.
  • Banks are not required to participate in gold auctions under the scheme.

RBI FAQs-Regulatory Framework for Microfinance Loans

  • The Master Direction on Regulatory Framework for Microfinance Loans became effective from April 1, 2022, but regulated entities (REs) were allowed time until October 1, 2022 for complete implementation due to operational challenges.
  • The directions apply to Commercial Banks (including SFBs, LABs, RRBs), Urban & Co-operative Banks, and NBFCs including MFIs and HFCs.

Key Highlights :

Definition and Eligibility

  • All collateral-free loans to individuals from low-income households (annual income up to ₹3 lakh) are treated as microfinance loans.
  • Loans backed by hypothecation of any security like gold, equipment, or white goods are not treated as collateral-free, and hence not classified as microfinance loans.
  • Expected income from the asset or activity financed by a microfinance loan cannot be included in household income estimation.
  • All members of a household are not required to be borrowers; only household income and indebtedness must be assessed at the household level as per board-approved policies.
  • Annex I provides an indicative method for assessing household income; references to expenses are only for validating reported income, not for computing net income.
  • ‘Not for Profit’ companies (Section 8) providing microfinance loans are exempted, but other not-for-profit NBFIs must obtain RBI registration if they meet Principal Business Criteria.
  • Exemptions from Sections 45-IA, 45-IB, and 45-IC of the RBI Act, 1934 have been withdrawn for ‘Not for Profit’ MFIs with asset size ₹100 crore or more.

Loan Repayment and Pricing

  • The 50% cap on household loan repayment obligations (as a share of monthly household income) applies to both microfinance and non-microfinance loans for low-income households.
  • For credit facilities without EMI, REs must estimate monthly repayment based on annualized obligations distributed over 12 months as per board-approved policies.
  • Lenders cannot revise interest rates on existing microfinance loans sanctioned before April 1, 2022, but other REs may review or revise rates on existing loans in compliance with guidelines.
  • Penalties for delayed payments can be applied only on overdue amounts, not the entire loan, and interest or charge revisions must be communicated in advance.
  • Borrowers must pay only charges explicitly mentioned in the factsheet; no prepayment penalty applies to microfinance loans.
  • Lenders must display the minimum, maximum, and average interest rates on microfinance loans in all offices, booklets, and websites for transparency.

Fair Practices and Customer Protection

  • Borrowers should note that no collateral, margin, or deposit is required for microfinance loans.
  • Borrowers must receive a loan card in a language they understand, containing loan details, pricing factsheet, repayment acknowledgements, and grievance redress contacts.
  • Training provided by lenders must be free of cost, and purchase of non-credit products is voluntary.
  • Insurance charges disclosed in the factsheet must relate only to credit-linked insurance; charges for non-credit products are to be shown separately.
  • Non-credit products (insurance, investment, solar lamps, etc.) can be offered only with explicit borrower consent and cannot be linked to loan approval.
  • Calling borrowers before 9 a.m. or after 6 p.m. is considered harsh practice only during loan recovery; for regular operations, normal timings may continue.
  • A dedicated mechanism for recovery-related grievances is required to ensure prompt redressal, though not a separate system — existing mechanisms may be restructured.
  • The Fair Practices Code (FPC) must be approved by the board, displayed in offices and websites, and issued in a language understood by borrowers.
  • The framework applies to regulated entities (REs) like banks, NBFCs, and co-operative banks; trusts and societies are advised but not mandated to follow it.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

India Maritime Week 2025 Inaugurated by Amit Shah in Mumbai

  • Amit Shah, Union Minister for Home Affairs and Cooperation, inaugurated India Maritime Week 2025 in Mumbai, highlighting that India’s maritime vision is founded on safety, stability, and self-reliance.
  • He emphasised that structural reforms have enabled India to emerge as a strong maritime power.

Key Highlights

  • India possesses a 7,500 km coastline, 13 coastal states and Union Territories, and an Exclusive Economic Zone (EEZ) of 23.7 lakh sq km, giving it a major maritime advantage.
  • Sarbananda Sonowal, Minister for Ports, Shipping & Waterways, stated that India Maritime Week has evolved into one of the world’s leading maritime gatherings, with participation from 85 countries, 500 + exhibitors, and 40 forums, under the theme “Uniting Oceans, One Maritime Vision.”
  • Devendra Fadnavis, Chief Minister of Maharashtra, announced the development of Vadhavan Port as India’s largest and among the world’s top ten ports, further enhancing India’s maritime capacity.
  • The event underscored India’s focus on several strategic maritime sectors:
    • Infrastructure expansion through large-scale port development projects like Vadhavan Port.
    • Shipbuilding and repair ecosystem development in states such as Goa, Odisha, and Gujarat.
    • Blue economy and maritime trade to strengthen global connectivity and trade corridors, especially within the Indo-Pacific and Global South.
    • Technology and sustainability, including port modernisation, digitalisation, and environmentally responsible maritime practices.
  • The initiatives align with the government’s vision of making the maritime sector a key pillar of “Viksit Bharat” (Developed India) 2047.

RECENT NEWS

  • Union Home Minister Amit Shah today unveiled Goa’s ‘Mhaje Ghar’ Yojana at a ceremony in Taleigao, intending to legalise homes built on government and community land and confer ownership rights on long-standing residents. Major infrastructure and institutional projects worth over ₹2,452 crore were also inaugurated.

National Biodiversity Authority Releases ₹55 Lakh to Red Sanders Farmers in Tamil Nadu Under ABS Framework

  • The National Biodiversity Authority (NBA) has disbursed ₹55 lakh to 18 farmers/cultivators of Red Sanders (Pterocarpus santalinus) in Tamil Nadu under the Access and Benefit Sharing (ABS) framework for sustainable use of biological resources.
  • The payment was made through the Tamil Nadu State Biodiversity Board to farmers from 8 villages — Kannabhiran Nagar, Kothur, Vembedu, Siruniyum, Goonipalayam, Ammambakkam, Alikuzhi, and Thimmaboopola Puram — all located in Tiruvallur District.
  • This is the first-ever benefit-sharing initiative directly rewarding farmers/cultivators, marking a historic step toward inclusive biodiversity conservation.

Key Highlights

  • The initiative builds on the NBA’s earlier release of ₹48 crore to the Andhra Pradesh Forest Department, Karnataka Forest Department, and Andhra Pradesh State Biodiversity Board for Red Sanders protection and conservation.
  • The initiative follows the recommendations of an Expert Committee on Red Sanders (2015), which proposed the policy framework for conservation, sustainable use, and fair benefit-sharing of Red Sanders.
  • Based on this, the Directorate General of Foreign Trade (DGFT) in 2019 relaxed export policies, allowing export of Red Sanders from cultivated sources, boosting farm-based conservation and legal trade.
  • Red Sanders, an endemic species to the Eastern Ghats (found mainly in Andhra Pradesh), holds ecological, economic, and cultural importance and is also cultivated in Tamil Nadu, Karnataka, and Odisha.
  • Promoting cultivated Red Sanders ensures farmers’ livelihood enhancement and reduces pressure on wild populations through sustainable sourcing.
  • The initiative highlights community participation in biodiversity conservation and ensures equitable benefit distribution to those protecting natural resources.
  • The NBA’s goal is to link conservation with livelihoods, promote community stewardship, and ensure fair compensation to custodians safeguarding India’s endemic Red Sanders species for future generations.

About Tamil Nadu:

  • Capital: Chennai
  • Chief Minister: M.K. Stalin
  • Governor: R.N. Ravi
  • National Parks: Mudumalai National Park, Mukurthi National Park, Gulf of Mannar Marine National Park, Indira Gandhi (Anamalai) National Park, Guindy National Park
  • Wildlife Sanctuaries: Vedanthangal Bird Sanctuary, Vettangudi Bird Sanctuary, Kalakad Wildlife Sanctuary, Sathyamangalam Wildlife Sanctuary, Vallanadu Wildlife Sanctuary, Megamalai Wildlife Sanctuary, Point Calimere Wildlife Sanctuary

RECENT NEWS

  • A new marine species named Apterichtus kanniyakumari has been discovered off the Colachel coast in Tamil Nadu, marking a significant addition to India’s coastal biodiversity. The species belongs to the genus Apterichtus, commonly known as finless snake eels, and was identified by researchers from the National Bureau of Fish Genetic Resources (NBFGR).

Cabinet Approves Terms of Reference of 8th Central Pay Commission

  • The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the Terms of Reference (ToR) of the 8th Central Pay Commission (CPC).
  • The 8th CPC will be a temporary body comprising one Chairperson, one Member (Part-Time), and one Member-Secretary.

Key Highlights 

  • The Commission will submit its recommendations within 18 months from the date of its constitution.
  • It may also submit interim reports on any matters as and when its recommendations are finalized.
  • While framing its recommendations, the Commission will consider:
    i. The economic conditions of the country and the need for fiscal prudence.
    ii. The availability of adequate resources for developmental expenditure and welfare measures.
    iii. The unfunded cost of non-contributory pension schemes.
    iv. The financial impact on State Governments, which generally adopt CPC recommendations with some modifications.
    v. The prevailing emolument structure, benefits, and working conditions of employees in Central Public Sector Undertakings (CPSUs) and the private sector.
  • The Central Pay Commissions are periodically constituted to examine and recommend changes in emoluments, retirement benefits, and service conditions of Central Government employees.
  • Traditionally, the recommendations of pay commissions are implemented every ten years.
  • Accordingly, the implementation of the 8th CPC recommendations is expected to take effect from 01 January 2026.
  • The Government had earlier announced the formation of the 8th Central Pay Commission in January 2025 to review and recommend revisions in salaries and other benefits for Central Government employees.

Cabinet Approves Nutrient Based Subsidy (NBS) Rates for Rabi Season 2025–26

  • The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the proposal of the Department of Fertilizers for fixing the Nutrient Based Subsidy (NBS) rates for Rabi Season 2025–26 (from 01.10.2025 to 31.03.2026) on Phosphatic and Potassic (P&K) fertilizers.
  • The tentative budgetary requirement for Rabi Season 2025–26 is ₹37,952.29 crore, which is approximately ₹736 crore more than the budgetary requirement for Kharif Season 2025.
  • The subsidy on P&K fertilizers, including Di-Ammonium Phosphate (DAP) and NPKS (Nitrogen, Phosphorus, Potash, Sulphur) grades, will be provided as per the approved rates for Rabi 2025–26 to ensure smooth availability of fertilizers to farmers at affordable prices.
  • The decision will ensure availability of fertilizers to farmers at subsidized, affordable, and reasonable prices.
  • It will help in the rationalization of subsidy on P&K fertilizers considering recent trends in the international prices of fertilizers and inputs.
  • The Government is making available 28 grades of P&K fertilizers, including DAP, to farmers at subsidized prices through fertilizer manufacturers and importers.
  • The subsidy on P&K fertilizers is governed by the NBS Scheme, implemented since 01.04.2010.
  • Following its farmer-friendly approach, the Government remains committed to ensuring the availability of fertilizers at affordable prices.
  • Considering the recent global price trends of fertilizers and inputs such as Urea, DAP, MOP, and Sulphur, the Government has decided to approve the NBS rates for Rabi 2025–26, effective 01.10.2025 to 31.03.2026, on Phosphatic and Potassic fertilizers, including DAP and NPKS grades.
  • The subsidy will be provided to fertilizer companies as per the approved and notified rates, ensuring fertilizers are made available to farmers at reasonable prices.

Prime Minister Narendra Modi’s Participation in the 22nd ASEAN-India Summit – Kuala Lumpur

  • The 22nd ASEAN-India Summit was held, in Kuala Lumpur, Malaysia, where Prime Minister Narendra Modi participated virtually along with ASEAN leaders.
  • The leaders reviewed progress in ASEAN-India relations and discussed initiatives to strengthen the Comprehensive Strategic Partnership.
  • This marked PM Modi’s 12th participation in the India-ASEAN Summit.
  • Congratulated Timor Leste on becoming the 11th member of ASEAN, welcoming its first participation as a full member and reaffirming India’s support for its human development.
  • Reiterated India’s support for ASEAN Unity, ASEAN Centrality, and the ASEAN Outlook on the Indo-Pacific, while complimenting ASEAN on adopting the ASEAN Community Vision 2045.
  • Highlighted that an early review of the ASEAN-India Free Trade Agreement (AITIGA) would help unlock full economic potential and deepen regional cooperation.
  • In alignment with the Malaysian Chair’s theme “Inclusivity and Sustainability”, PM Modi made the following key announcements:
    • Extended support for the implementation of the ASEAN-India Plan of Action (2026–2030) under the Comprehensive Strategic Partnership.
    • Adoption of the ASEAN-India Joint Leaders’ Statement on Sustainable Tourism as part of the ASEAN-India Year of Tourism.
    • Designation of 2026 as the “ASEAN-India Year of Maritime Cooperation” to strengthen collaboration in the blue economy.
    • Proposal to host the Second ASEAN-India Defence Ministers’ Meeting and the Second ASEAN-India Maritime Exercise to ensure a secure maritime environment.
    • Reaffirmed India’s role as a First Responder during crises and pledged to enhance Disaster Preparedness and Humanitarian Assistance and Disaster Relief (HADR) cooperation.
    • Announced the training of 400 professionals in renewable energy in support of the ASEAN Power Grid initiative.
    • Extension of Quick Impact Projects (QIPs) to Timor Leste.
    • Proposal to establish a Centre for Southeast Asian Studies at Nalanda University to build regional expertise.
    • Continued support for collaboration in education, energy, science and technology, fintech, and cultural preservation, while emphasising cooperation in infrastructure, semiconductors, emerging technologies, rare earths, and critical minerals.
    • Announcement of the East Asia Summit Maritime Heritage Festival at Lothal, Gujarat, alongside a conference on Maritime Security Cooperation.

CURRENT AFFAIRS : INTERNATIONAL NEWS

United States and Japan Ink Major Deals on Trade and Critical Minerals

  • United States (US) President Donald Trump and Japanese Prime Minister Sanae Takaichi signed two major agreements on trade and critical minerals in Tokyo.
  • Under the first agreement, a 15% tariff will apply to Japanese exports in exchange for USD 550 billion Japanese investment in the United States.
  • The second agreement created a framework to secure the supply of critical and rare-earth minerals through cooperation in mining and processing.
  • The initiative aims to enhance supply chain resilience for materials vital to electronics and advanced technologies.
  • Japan is the second stop on Trump’s five-day Asia tour after Malaysia, where he attended the 47th ASEAN Summit and participated in the Cambodia–Thailand peace deal signing.

International Union for Conservation of Nature Lists Western Ghats, Manas, and Sundarbans Among Asia’s Ailing World Heritage Sites

  • The International Union for Conservation of Nature (IUCN) has listed India’s Western Ghats, Manas National Park (Assam), and Sundarbans National Park (West Bengal) among the ailing natural World Heritage sites in Asia (excluding Arab countries).
  • Manas and Sundarbans National Parks were given a “significant concern” conservation outlook, indicating major threats to their ecosystems.
  • Khangchendzonga National Park (Sikkim) was the only Indian site rated “good.”
  • Four Indian sites rated “good with some concerns” include — The Great Himalayan National Park, Kaziranga, Keoladeo, and Nanda Devi–Valley of Flowers.
  • In Asia, only 17% of sites were rated “good”, while 30% were rated “significant concern.”
  • Climate change has emerged as the biggest threat to natural World Heritage sites, surpassing hunting, followed by tourism and invasive alien species.
  • The IUCN World Heritage Outlook is the only global assessment that evaluates all natural and mixed World Heritage sites every 3–5 years.

CURRENT AFFAIRS: AWARDS AND HONOURS

Sri Lankan Writer Vajra Chandrasekera Wins 2025 Ursula K. Le Guin Prize for Fiction

  • Sri Lankan author Vajra Chandrasekera has been awarded the 2025 Ursula K. Le Guin Prize for Fiction for his speculative novel “Rakesfall.”
  • The USD 25,000 prize recognises authors whose works of imaginative fiction explore themes such as power, freedom, equity, and humanity’s place in the world.
  • The novel was described by the jury as “an extraordinary achievement in science fiction,” establishing Chandrasekera as one of the strongest new voices in global speculative fiction.

Key Highlights

  • Vajra Chandrasekera, originally from Colombo, Sri Lanka, gained earlier recognition for his novel “The Saint of Bright Doors,” which won several literary honours.
  • Currently based in New York on a writing fellowship, he continues to explore themes of power, myth, memory, and social realities through speculative fiction.
  • The Ursula K. Le Guin Prize for Fiction, established in 2022, honours the legacy of the iconic author known for critiquing capitalism, patriarchy, and colonialism through fantasy and science fiction.
  • The annual prize celebrates book-length works that promote hope, non-violence, equity, and a holistic worldview, especially uplifting voices from outside mainstream literary institutions.
  • “Rakesfall”, published by Tordotcom Publishing in 2024, was selected from eight semi-finalist works.
  • The judging panel, comprising Matt Bell, Indra Das, Kelly Link, Sequoia Nagamatsu, and Rebecca Roanhorse, commended the novel for its moral clarity, emotional intensity, and innovation.
  • In his acceptance speech, Chandrasekera described Rakesfall as a story about power and the obsession of the elite with immortality, artificial intelligence, and post-human futures.
  • He remarked that “this is the world we already live in,” linking the novel’s themes to real-world hierarchies and ideologies.
  • Chandrasekera also referenced Theodor Herzl’s 1902 work “Altneuland”, drawing parallels between speculative fiction and the colonial imagination that has shaped real-world displacements and power structures.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Navy to Commission ‘Ikshak’, Its Third Indigenously Built Survey Vessel (Large)

  • Indian Navy will commission its indigenously built Survey Vessel (Large) ‘Ikshak’ at Naval Base Kochi on 6 November 2025, with Chief of Naval Staff Admiral Dinesh Kumar Tripathi presiding over the ceremony.
  • Ikshak is the third ship of its class, marking a step forward in the Navy’s commitment to self-reliance and advanced indigenous shipbuilding.
  • The vessel was built by Garden Reach Shipbuilders & Engineers (GRSE) Ltd, Kolkata, under the supervision of the Directorate of Ship Production and the Warship Overseeing Team (Kolkata).
  • The ship has over 80% indigenous content, showcasing strong collaboration between GRSE and Indian MSMEs under the Aatmanirbhar Bharat
  • Ikshak will serve in hydrographic survey operations and has dual-role capability — functioning as a Humanitarian Assistance and Disaster Relief (HADR) platform and as a Hospital Ship during emergencies.
  • It is the first Survey Vessel (Large) ship with dedicated accommodation for women, reflecting the Indian Navy’s inclusive and progressive approach.
  • The name ‘Ikshak’ means ‘The Guide’, symbolising its mission to chart unknown waters and strengthen India’s maritime capabilities.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Reserve Bank of India Clears Reappointment of C.S. Rajan as Part-Time Chairman of Kotak Mahindra Bank

  • The Reserve Bank of India (RBI) has approved the reappointment of C.S. Rajan as Part-Time Chairman of Kotak Mahindra Bank for a new term from January 1, 2026, to October 21, 2027.
  • S. Rajan has been serving as Part-Time Chairman since January 2024, after being appointed as an Independent Director on the Bank’s Board in October 2022.
  • Rajan, a 1978 batch IAS officer, retired as Chief Secretary of the Government of Rajasthan in 2016.
  • He has held leadership roles in key infrastructure sectors, including Energy, Highways, Water Resources, and Industry (MSME/SSI), along with a 14-year tenure in Agriculture and Rural Development.
  • Rajan also served as Deputy Chairman of the Chief Minister of Rajasthan’s Advisory Council and later joined the Government of India-appointed Board of IL&FS, where he was Managing Director and later Non-Executive Chairman until September 2024.
  • He currently serves as an Independent Director on the Board of Kotak Mahindra Life Insurance Company Limited, a wholly owned subsidiary of Kotak Mahindra Bank.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Space Research Organisation Gears Up To Launch CMS-03 Satellite With LVM3 Rocket On November 2, 2025

  • The Indian Space Research Organisation (ISRO) is set to launch CMS-03 Communication Satellite aboard Launch Vehicle Mark-3 (LVM3-M5) on November 2, 2025, from the Satish Dhawan Space Centre, Sriharikota.

Key Highlights :

  • CMS-03, weighing about 4400 kg, will be the heaviest communication satellite launched by India to Geosynchronous Transfer Orbit (GTO).
  • The LVM3 launch vehicle has been fully assembled and integrated with the satellite and moved to the launch pad on October 26, 2025, for pre-launch operations.
  • CMS-03 is a multi-band communication satellite designed to enhance communication services across a wide oceanic region including the Indian landmass.
  • The mission aims to expand digital access to remote territories and strengthen India’s telecommunication capabilities.
  • This will be the 5th operational flight of the LVM3 rocket, following its successful Chandrayaan-3 mission in 2023, where India became the first country to land near the lunar south pole.
  • LVM3 is a three-stage rocket capable of launching 4000 kg class spacecraft into GTO.
  • The same vehicle is being reconfigured and human-rated for India’s Gaganyaan Mission (scheduled for 2027) — renamed Human Rated LVM3 (HLVM3).
  • ISRO recently conducted the first integrated air-drop test for Gaganyaan, releasing a simulated crew module with a parachute system from 3 km altitude using an Indian Air Force Chinook helicopter.
  • The first uncrewed test flight of Gaganyaan is now under preparation.

Indian Space Research Organisation Chief V. Narayanan Says 90% of Work on Gaganyaan Human Spaceflight Mission Completed

  • The Indian Space Research Organisation (ISRO) Chairman V. Narayanan announced that around 90% of the development work for India’s first human spaceflight mission – Gaganyaan – has been completed.
  • The Gaganyaan mission includes key technological components such as human-rating the rocket, orbital module, environmental control systems, crew escape system, and parachute systems.
  • The Vyommitra humanoid will participate in the uncrewed Gaganyaan mission, which will orbit in low Earth orbit before the final crewed mission in 2027 carrying three Indian astronauts.
  • The first base module of the Bharatiya Antriksh Station will be launched by 2028, with the full Indian Space Station targeted for completion by 2035.
  • NISAR Earth Observation Satellite payloads will become operational within 10–15 days, according to Dr. Narayanan.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Life insurance corporation of India Raises Stake in Tata Consumer Products and Dabur India

  • The Life insurance corporation of India (LIC) has increased its shareholding in two major fast-moving consumer goods (FMCG) companies — Tata Consumer Products and Dabur India, as per regulatory filings on October 24, 2025.
  • In Tata Consumer Products, LIC’s stake rose from 6.633% to 8.645%, with the acquisition of over 1.99 crore shares between July 11 and October 23, 2025.
  • In Dabur India, LIC’s shareholding increased from 4.918% to 6.985%, after purchasing 66 crore shares between February 18 and October 23, 2025.
  • The move reflects LIC’s confidence in India’s FMCG sector, known for its resilience and stability amid market volatility.
  • LIC recently received inflows exceeding ₹1,100 crore in a single day after the removal of GST on traditional life insurance policies, boosting investor sentiment.

Blackstone to acquire 9.99% stake in Federal Bank for about ₹6,200 crore

  • Blackstone will acquire a 9.99% stake in Federal Bank for ₹6,196.51 crore through its Singapore-based entity, Asia II Topco XIII Private Limited.
  • The Federal Bank board approved the proposal on October 24, 2025, subject to clearances from shareholders, RBI, and the Competition Commission of India (CCI).
  • Once Blackstone’s stake crosses 5%, it will gain the right to nominate one non-executive director to the Federal Bank board, pending approvals.
  • Federal Bank CEO KVS Manian stated that the capital infusion will strengthen the bank’s capital base and support growth in retail, SME, and digital businesses.
  • The move reflects India’s rising trend of major private investments in the banking sector.

CURRENT AFFAIRS: SPORTS NEWS

Indian Chess Grandmasters D Gukesh and Divya Deshmukh Win Gold at European Chess Club Cup 2025

  • Indian chess grandmasters D Gukesh and Divya Deshmukh won individual gold medals at the European Chess Club Cup 2025, marking a major boost for India ahead of the Chess World Cup 2025 in Goa.
  • Gukesh’s Victory: Playing for SuperChess, D Gukesh clinched gold on Board 1, leading his team to overall tournament victory.
  • This triumph is particularly significant for Gukesh, the reigning World Champion, who ended 2024 with the world title but has since faced an inconsistent run in elite tournaments.

Key Highlights

  • Divya Deshmukh’s Performance: In the women’s section, Divya Deshmukh secured gold on Board 2, helping Cercle d’échecs de Monte Carlo win the top team honors.
  • She is the only Indian woman participating in the upcoming World Cup, and this victory further strengthens her confidence ahead of the major event.
  • Chess World Cup 2025 Details:
    • Scheduled from October 31 to November 27, 2025, in Goa, India.
    • Gukesh is the top seed, followed by Arjun Erigaisi and R Praggnanandhaa.
    • A total of 24 Indian players will compete.
    • The top three finishers will qualify for the 2026 Candidates Tournament.
  • Recent Form – D Gukesh:
    • Has beaten Magnus Carlsen twice in 2025 (at Norway Chess and SuperUnited Rapid).
    • However, his results have been mixed across tournaments:
      • 8th & 11th in Freestyle Chess Grand Slam
      • 6th in Grand Chess Tour Romania
      • 3rd in Norway Chess with a notable win against Carlsen
  • These twin golds by Gukesh and Divya reaffirm India’s growing dominance in world chess, setting a positive tone ahead of the Goa World Cup 2025.

Lando Norris Wins Mexico City Grand Prix 2025, Takes Lead in Drivers’ Championship

  • Lando Norris (McLaren) clinched a lights-to-flag victory at the Mexico City Grand Prix 2025, taking the lead in the Formula 1 Drivers’ Championship by a narrow margin of one point.
  • Norris delivered one of his most dominant performances, finishing 30.3 seconds ahead of Charles Leclerc (Ferrari), while Max Verstappen (Red Bull) secured third place.
  • Race Start: Norris maintained his lead from pole position after a four-car battle at Turn 1, holding off strong competition.
  • Mid-Race Drama: Verstappen collided with Lewis Hamilton, allowing Oliver Bearman (Haas) to seize fourth position.
  • By Lap 18, Norris had built a 7-second lead, which he extended comfortably until the finish.
  • Final Battle: Verstappen attempted to overtake Leclerc in the closing laps but finished 0.725 seconds behind, settling for third.
  • Top 10 Finishers:
    1. Lando Norris / McLaren
    2. Charles Leclerc / Ferrari
    3. Max Verstappen / Red Bull
    4. Oliver Bearman / Haas
    5. Oscar Piastri / McLaren
    6. Kimi Antonelli / Mercedes
    7. George Russell / Mercedes
    8. Lewis Hamilton / Ferrari
    9. Esteban Ocon / Haas
    10. Gabriel Bortoleto / Kick Sauber
  • With this win, Norris overtakes teammate Oscar Piastri in the Drivers’ standings, while McLaren’s 1–5 finish strengthens their Constructors’ Championship position.
  • Other Incidents: Hamilton received a 10-second penalty for leaving the track after contact with Verstappen; Liam Lawson retired after a Lap 1 collision, and Carlos Sainz suffered a mechanical failure near the end of the race.
  • DNFs: Liam Lawson, Nico Hulkenberg, Fernando Alonso, and Carlos Sainz.

India Clinches Double Gold in Kabaddi at 2025 Asian Youth Games in Bahrain

  • India reaffirmed its dominance in youth kabaddi by winning both boys’ and girls’ gold medals at the 2025 Asian Youth Games held in Bahrain.
  • Both Indian U-18 teams remained unbeaten, underlining the nation’s strong pipeline of kabaddi talent and contributing significantly to India’s overall medal tally.

Key Highlights

  • In the girls’ final, India defeated Iran 75–21, registering the largest victory margin in an Asian Youth Games kabaddi final since 2013.
  • Neha Patel led the offense with 28 points, while Riya Singh anchored the defence with crucial tackles.
  • Across five matches, the girls’ team scored 312 points and conceded only 89, reflecting their complete dominance throughout the tournament.
  • In contrast, the boys’ final was a closely contested encounter, with India defeating Iran 35–32 in a tense finish.
  • The boys’ team showed resilience and composure, holding off Iran’s late challenge to secure victory.
  • The competition demonstrated India’s technical maturity, tactical strength, and athletic superiority in kabaddi.
  • The kabaddi matches were held at the Isa Sports City Arena in Riffa, one of the key venues of the 2025 Asian Youth Games.
  • The Games featured athletes aged 14–18 from across Asia, promoting early sporting excellence and international camaraderie.

CURRENT AFFAIRS: IMPORTANT DAYS

International Animation Day 2025 – Celebrated on October 28

  • International Animation Day (IAD) is celebrated annually on October 28 across more than 50 countries to honour the art of animation.
  • The observance is spearheaded by ASIFA (Association Internationale du Film d’Animation).
  • The day commemorates the birth of projected animation, marking Émile Reynaud’s historic screening in 1892 at Théâtre Optique, Paris — regarded as the world’s first animated film presentation.
  • ASIFA established IAD in 2002 to promote animation as a medium of artistic and cultural expression.
  • It also celebrates Reynaud’s milestone, the first public performance of animated moving images, which predated traditional film screenings and laid the foundation for modern animation.

World Stroke Day is observed on 29th October

  • World Stroke Day is observed on the 29th of October 2025.
  • The campaign program has been organized by the World Stroke Organisation.
  • The theme for World Stroke Day 2025 is “Every Minute Counts,”

History

  • World Stroke Day takes place on 29th October every year. A stroke also called a brain attack means the blood supply to the brain will be stopped suddenly due to blockage in the blood vessels.
  • It can be a sudden block or burst of a blood vessel. Mostly blockage of blood vessels will take place due to several reasons over a certain period of time.
  • The signs of Stroke are Numbness or weakness in the face, arm, and leg. Sudden Confusion, Trouble Speaking, difficulty understanding speech, dizziness, loss of balance, and trouble walking.
  • The effects of Stroke will be permanent or temporary damage to part of the brain causing death or long-term disability of body parts.

Daily CA One- Liner: October 29

  • Amit Shah, Union Minister for Home Affairs and Cooperation, inaugurated India Maritime Week 2025 in Mumbai, highlighting that India’s maritime vision is founded on safety, stability, and self-reliance
  • The National Biodiversity Authority (NBA) has disbursed ₹55 lakh to 18 farmers/cultivators of Red Sanders (Pterocarpus santalinus) in Tamil Nadu under the Access and Benefit Sharing (ABS) framework for sustainable use of biological resources
  • The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the Terms of Reference (ToR) of the 8th Central Pay Commission
  • The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the proposal of the Department of Fertilizers for fixing the Nutrient Based Subsidy (NBS) rates for Rabi Season 2025–26 (from 10.2025 to 31.03.2026) on Phosphatic and Potassic (P&K) fertilizers
  • The 22nd ASEAN-India Summit was held, in Kuala Lumpur, Malaysia, where Prime Minister Narendra Modi participated virtually along with ASEAN leaders
  • Sri Lankan author Vajra Chandrasekera has been awarded the 2025 Ursula K. Le Guin Prize for Fiction for his speculative novel “Rakesfall
  • Indian chess grandmasters D Gukesh and Divya Deshmukh won individual gold medals at the European Chess Club Cup 2025, marking a major boost for India ahead of the Chess World Cup 2025 in Goa
  • Lando Norris (McLaren) clinched a lights-to-flag victory at the Mexico City Grand Prix 2025, taking the lead in the Formula 1 Drivers’ Championship by a narrow margin of one point
  • India reaffirmed its dominance in youth kabaddi by winning both boys’ and girls’ gold medals at the 2025 Asian Youth Games held in Bahrain.
  • VFS Capital, a microfinance institution, has withdrawn its Small Finance Bank (SFB) application submitted to the Reserve Bank of India (RBI).
  • Paytm has launched a new service for NRIs from 12 countries, enabling them to make UPI payments in India using international mobile numbers.
  • The Small Industries Development Bank of India’s (SIDBI’s) fourth MSME Outlook Survey indicates that India’s micro, small, and medium enterprise (MSME) remain resilient despite a slight moderation in business confidence during July–September 2025 (Q2FY26).
  • Axis Bank, in partnership with Hitachi Payment Services, has launched Express Banking, India’s first-ever Digital Banking Point offering a full suite of branch banking services in a compact, digital-first format.
  • Banks are not required to obtain RBI approval to participate in the Gold Monetization Scheme (GMS), 2015, but they must submit implementation details (CPTCs, refiners, and operating branches) and report gold mobilized monthly to the RBI.
  • The Master Direction on Regulatory Framework for Microfinance Loans became effective from April 1, 2022, but regulated entities (REs) were allowed time until October 1, 2022 for complete implementation due to operational challenges.
  • United States (US) President Donald Trump and Japanese Prime Minister Sanae Takaichi signed two major agreements on trade and critical minerals in Tokyo.
  • The International Union for Conservation of Nature (IUCN) has listed India’s Western Ghats, Manas National Park (Assam), and Sundarbans National Park (West Bengal) among the ailing natural World Heritage sites in Asia (excluding Arab countries).
  • Indian Navy will commission its indigenously built Survey Vessel (Large) ‘Ikshak’ at Naval Base Kochi on 6 November 2025, with Chief of Naval Staff Admiral Dinesh Kumar Tripathi presiding over the ceremony.
  • The Reserve Bank of India (RBI) has approved the reappointment of C.S. Rajan as Part-Time Chairman of Kotak Mahindra Bank for a new term from January 1, 2026, to October 21, 2027.
  • The Indian Space Research Organisation (ISRO) is set to launch CMS-03 Communication Satellite aboard Launch Vehicle Mark-3 (LVM3-M5) on November 2, 2025, from the Satish Dhawan Space Centre, Sriharikota.
  • The Indian Space Research Organisation (ISRO) Chairman V. Narayanan announced that around 90% of the development work for India’s first human spaceflight mission – Gaganyaan – has been completed.
  • The Life insurance corporation of India (LIC) has increased its shareholding in two major fast-moving consumer goods (FMCG) companies — Tata Consumer Products and Dabur India, as per regulatory filings on October 24, 2025.
  • Blackstone will acquire a 9.99% stake in Federal Bank for ₹6,196.51 crore through its Singapore-based entity, Asia II Topco XIII Private Limited.
  • International Animation Day (IAD) is celebrated annually on October 28 across more than 50 countries to honour the art of animation
  • World Stroke Day is observed on the 29th of October 2025.

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