Daily Current Affairs 04th October 2025 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Unveils Seven Regulatory Reforms on Policy Rate Transmission, Gold Loans, and Large Exposure Norms

• On September 29, 2025, the Reserve Bank of India (RBI) announced seven regulatory changes to improve policy rate transmission, ease gold loan norms, and relax large exposure rules.
• Out of these changes, three will take effect from October 1, 2025, while four are draft proposals open for public feedback until October 20, 2025.

Key Highlights :

Immediate Changes (Effective October 1, 2025)

• Under the revised guidelines on interest rates, banks can now reduce spread components on floating-rate loans even before the 3-year lock-in period, helping accelerate policy rate transmission and reduce borrowers’ EMIs/interest burden.
• Banks may offer borrowers the option to switch to fixed-rate loans at reset points, but it is no longer mandatory.
• The scope of lending against gold and silver collateral has been expanded to banks and Tier-3 & Tier-4 urban co-operative banks, which can now provide working capital loans to any borrower using gold as raw material, not just jewellers.
• The RBI amended Basel III capital regulations, raising the eligible limit for Perpetual Debt Instruments (PDIs) issued in foreign currency or rupee-denominated overseas bonds, enhancing flexibility for banks to raise Tier-1 capital.

Draft Proposals (Open for Feedback)

• Under the draft proposals, the repayment period of Gold Metal Loans (GML) will be extended to 270 days from 180 days, with banks free to fix the tenure.
• Non-manufacturing jewellers will be allowed to avail GML for outsourced production, widening access to the scheme.
• The Large Exposure Framework (LEF) will be aligned with Intragroup Transactions and Exposures (ITE) for foreign bank branches, with exposures to head offices considered only under LEF and wider credit risk mitigation benefits extended.
• Credit institutions must submit data to credit bureaus weekly instead of fortnightly, ensuring faster error rectification and inclusion of CKYC numbers in consumer reports.

Gold Metal Loan (GML) Specifics

• The GML scheme was first launched in 1998 to support jewellery manufacturers, closely linked with the Gold Monetisation Scheme.
• GML allows jewellery manufacturers to borrow gold instead of rupees and settle loans from sale proceeds of jewellery.
• In June 2025, RBI issued final rules on consumption gold loans with tiered Loan-to-Value (LTV) ratios: loans up to ₹2.5 lakh at 85%, ₹2.5–5 lakh at 80%, and above ₹5 lakh at 75%.
• From April 1, 2026, borrowers must repay both principal and interest within 12 months.
• From April 1, 2026, lenders must return pledged gold on the same day or within 7 working days after loan closure, failing which a penalty of ₹5,000 per day will be charged.

Small Industries Development Bank of India Records All-Time High Net Profit of Rs 4,811 Crore in FY 2024-25, Up 19.5%

• Small Industries Development Bank of India (SIDBI) reported a net profit of Rs 4,811 crore in FY 2024-25, marking a 19.5% rise and an all-time high.
• In FY 2023-24, SIDBI’s net profit was Rs 4,026 crore.
• SIDBI’s balance sheet crossed Rs 5.6 lakh crore during FY 2024-25.
• The bank’s total income reached Rs 38,511 crore, up 20.6% compared to the previous year.
• SIDBI maintained strong asset quality, with Gross NPA at 0.04% and Net NPA at nil as of March 31, 2025.
• Chairman and Managing Director of SIDBI : Manoj Mittal

Bank of Baroda Partners with IIFL Finance for Co-Lending of Gold Loans

• Bank of Baroda (BoB) has signed a Co-Lending Agreement with IIFL Finance, an NBFC.
• The collaboration aims to provide small borrowers with faster, easier, and more affordable credit for agricultural and allied activities.
• Under the agreement, IIFL Finance will originate and service gold loans, while BoB will participate in funding, with joint underwriting by both parties.

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 Forms Six-Member Payments Regulatory Board to Replace BPSS and Oversee India’s Payment Systems

• The Reserve Bank of India (RBI) established a new six-member Payments Regulatory Board (PRB) to regulate and supervise India’s payment systems, replacing the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS).
• The PRB derives its authority from the Payment and Settlement Systems Act, 2007, which grants RBI the power to regulate payment and settlement systems in India.
• The PRB is a distinct entity supported by the Department of Payment and Settlement Systems (DPSS), which now reports directly to it, ensuring a more autonomous and robust regulatory framework.

Key Highlights :

Composition of PRB

1. RBI Governor (Chairperson)
2. Deputy Governor (Payment Systems)
3. Executive Director (Payment Systems)
4. Secretary, Department of Financial Services
5. Secretary, Ministry of Electronics & IT
6. Aruna Sundararajan (former Telecom Secretary)

• The Principal Legal Adviser of RBI is a permanent invitee to ensure that all decisions are legally sound.

Decision-Making Rules & Tenure

• Decisions are taken by majority vote.
• Chairperson/Deputy Governor has a casting vote in case of tie.
• Meetings held at least twice a year; quorum requires 3 members including Chairperson (or Deputy Governor) and a government nominee.
• Tenure of members is 4 years, non-renewable, with disqualifications including age above 70, insolvency, criminal conviction (≥180 days), or holding political office (MP/MLA).

Key Functions

• Functions of PRB include oversight of electronic (UPI, NEFT, RTGS, IMPS, card networks) and non-electronic systems (cheque clearing), covering domestic and cross-border transactions, and ensuring security, interoperability, and resilience.
• The Payment and Settlement Systems Act, 2007 designates RBI as the central authority for overseeing India’s payment infrastructure and ensuring customer protection against unfair charges and mishandling.

SBI Foundation Launches SBI Platinum Jubilee Asha Scholarship 2025 with ₹90 Crore Commitment

• SBI Foundation, the CSR arm of State Bank of India (SBI), has launched the SBI Platinum Jubilee Asha Scholarship 2025 with a commitment of ₹90 crore in FY26.
• The scholarship, instituted in 2022, will empower 23,230 meritorious students from humble and underprivileged backgrounds across India, making higher education accessible.
• The program covers students from Class 9 up to postgraduate programmes, offering financial assistance ranging from ₹15,000 to ₹20,00,000 annually per student till course completion.

Tata AIG Joins Star Health, Niva Bupa, and Care Health in Suspending Cashless Facilities at Max Hospitals

• Tata AIG became the fourth health insurer to suspend cashless facilities at Max Hospitals, following Star Health, Niva Bupa, and Care Health.
• Star Health and Niva Bupa had suspended cashless facilities for all 22 Max Hospitals nationwide, while CARE Health had limited suspension to Max Hospitals in Delhi NCR.
• Max Healthcare and Tata AIG General Insurance had earlier negotiated and signed a two-year tariff agreement effective 16 January 2025 to 15 January 2027.
• In July 2025, Tata AIG unexpectedly requested a meeting demanding further rate reductions.
• Tata AIG General Insurance Company is a joint venture between the Tata Group (51%) and American International Group (AIG) (49%).

Axis Bank Partners with Freecharge to Launch India’s First UPI-Based Gold-Backed Credit Line for MSMEs and Entrepreneurs

• Axis Bank, in collaboration with Freecharge, has introduced India’s first gold-backed credit line accessible through UPI, designed for MSMEs, self-employed individuals, and merchants.
• The product allows customers to leverage gold holdings for instant, flexible credit and digital overdraft facilities.
• Interest is charged only on the amount used, not the full sanctioned limit.
• Payments and repayments can be made in real-time via UPI or Freecharge, eliminating the need to visit a bank branch after onboarding.
• The initiative simplifies working capital access, business growth financing, and urgent liquidity needs.
• The launch follows NPCI guidelines supporting credit lines on UPI, expanding the reach and efficiency of digital lending in India.
• The product aligns with RBI’s vision to enhance digital credit access and financial inclusion.

State Bank of India Tops Debit Card Market with 24% Share as of August 2025

• The State Bank of India (SBI) leads the debit card market with a 24% share as of August 2025.
• Bank of Baroda (BoB) holds 9%, while Canara Bank, Union Bank, and HDFC Bank have 6% each.
• Axis Bank and Punjab National Bank (PNB) each hold 4% of the debit card market.
• HDFC Bank dominates the credit card market with a 22% share, followed by SBI Card (19%), ICICI Bank (16%), and Axis Bank (14%).
• Axis Bank and HDFC Bank showed the highest YoY growth in debit cards at around 11–12% and 7–8%, respectively.
• SBI reversed its earlier decline with a 5% YoY increase in debit cards.
• Overall card transaction volumes in India have grown rapidly, with debit card usage recording a CAGR of 20% and credit card usage a CAGR of 19% over the past four years.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

India’s First Private-Sector Helicopter Final Assembly Line (FAL)

• The Tata Group, in partnership with Airbus, is launching India’s first private-sector helicopter Final Assembly Line (FAL) at Vemagal, Karnataka to manufacture the Airbus H125 helicopter.
• The facility will assemble, test, and deliver both civil and military variants, addressing domestic and South Asian export markets, with deliveries expected from early 2027.
• This initiative strengthens India’s civil and defence aviation capabilities and enhances its position as a global aviation hub.

Key Highlights

• The project stems from the Airbus–Tata agreement announced in January 2024 during the Republic Day visit of French President Emmanuel Macron and is Airbus’ second major manufacturing venture in India after the C295 military aircraft facility in Vadodara, Gujarat.
• The H125 helicopter, a member of Airbus’ Ecureuil family with over 40 million flight hours globally, holds the record as the only helicopter to land on Mount Everest.
• It is used worldwide for civil, para-public, and military operations.
• In India, it will serve tourism, emergency medical services, VIP transport, defence operations in high-altitude areas, and exports to South Asian nations.
• According to Airbus India President Jürgen Westermeier, the ‘Made in India’ helicopter will boost the civil helicopter market, support Indian Armed Forces’ H125M variant with indigenous components, and encourage private sector aerospace manufacturing, reducing import dependence.
• Tata Advanced Systems Limited (TASL) will handle assembly, integration of mechanical and electrical systems, structural manufacturing, component testing, and final flight tests before delivery.
• India is emerging as a global aviation hub, with Airbus sourcing USD 1.4 billion of components annually and both Airbus and Boeing holding an order book of 1,100 aircraft from Indian carriers.
• This project is expected to catalyse India’s civil helicopter market, addressing policy and cost barriers.

About Karnataka:

• Capital: Bengaluru
• Chief Minister: Siddaramaiah
• Governor: Thaawarchand Gehlot
• National Parks: Bandipur National Park, Nagarhole National Park, Kudremukh National Park, Anshi (Kali) National Park, Bannerghatta National Park
• Wildlife Sanctuaries: Dandeli Wildlife Sanctuary, Bhadra Wildlife Sanctuary, Ranganathittu Bird Sanctuary, Brahmagiri Wildlife Sanctuary, Pushpagiri Wildlife Sanctuary, Cauvery Wildlife Sanctuary

India to Enforce Acoustic Vehicle Alerting System (AVAS) for Electric Vehicles (EVs) from October 2027

• The Government of India (GoI) will mandate Acoustic Vehicle Alerting System (AVAS) in all Electric Vehicles (EVs) from October 1, 2027 to enhance pedestrian safety.
• The Ministry of Road Transport and Highways (MoRTH) has proposed the rule for electric cars, buses, and trucks.

Key Highlights:

• AVAS emits artificial sounds to alert pedestrians, cyclists, and other road users, addressing the near-silent operation of EVs.
• Implementation Timeline: New EV models from October 1, 2026; all existing models from October 1, 2027.
• Systems must comply with Automotive Industry Standard (AIS)-173 for uniform sound audibility.
• Covered vehicles include Category M vehicles (passenger cars and buses) and Category N vehicles (trucks and goods carriers).
• Enhances road safety, aligns India with global EV safety norms, and increases public confidence in EV adoption.
• Challenges: Standardising sounds without contributing to urban noise pollution, managing implementation costs, and creating public awareness.
• Regulatory Authority: Ministry of Road Transport and Highways (MoRTH); Standard: AIS-173.

Telugu Language Day 2025 Celebrated in Saudi Arabia

• Telugu Language Day 2025 was celebrated in Saudi Arabia through a P4 model awareness programme, uniting over 2,000 attendees including Non- Resident Indians (NRIs) to promote culture and social empowerment.
• The event was organised by the Saudi Arabia Telugu Association (SATA) in collaboration with the TDP NRI Committee.
• The programme focused on the P4 model (Public–Private–People Partnership), promoted by the Andhra Pradesh Government, highlighting social and economic empowerment initiatives.
• Kondapalli Srinivas, Minister for Micro, Small & Medium Enterprises (MSME) and Society for Elimination of Rural Poverty (SERP), addressed the gathering virtually, emphasizing Andhra Pradesh’s vision of achieving “zero poverty by 2047”.
• More than 100 NRIs pledged support for vulnerable families. Key contributors included Dr. Vemuri Ravi and Dr. P. Krishnamohan.
• The event was led by SATA Core Committee members, including Anandraju Gunduboyina (President), Sucharitha, Jani Basha Shaik, Irfan Mohammed, Rajasekhar Chennupati, Satibabu Chollangi, Ananth Srinivas Dadi, Akshitha Chennupati, and Shilpa Gaddam, showcasing the role of the Telugu diaspora in promoting cultural identity abroad.

Prime Minister Shri Narendra Modi addresses the Rashtriya Swayamsevak Sangh Centenary Celebrations

• Prime Minister Narendra Modi released a commemorative postage stamp and coin marking the 100-year journey of RSS.

• Founded: 1925, Nagpur by Keshav Baliram Hedgewar.
• Nature: Volunteer-based organisation promoting discipline, cultural awareness, and national service.
• Vision: Rooted in Dharma, aiming for Sarvangeena Unnati (all-round development) of India).
• Historical Significance: Emerged as a people-nurtured movement for national reconstruction in response to centuries of foreign rule.
• Contributions:
  • Education: Establishment of schools and cultural centres.
  • Health & Welfare: Social service and medical initiatives.
  • Disaster Relief: Rehabilitation during floods, earthquakes, and cyclones.
  • Empowerment Programmes: Focus on youth, women, and farmers with grassroots mobilisation.
  • Community Strengthening: Promoting local participation and national unity.

Balod Declared India’s First Child Marriage-Free District

• Balod district, Chhattisgarh, officially recognised as India’s first child marriage-free district under the “Child Marriage Free India” campaign launched on 27 August 2024.
• Zero cases reported over the past two years; all 436 gram panchayats and 9 urban bodies certified after verification.
• Community involvement from panchayats, Anganwadi workers, and local families ensured awareness and compliance.
• Government Recognition: CM Vishnu Deo Sai announced the goal to make Chhattisgarh child marriage-free by 2028-29; WCD Minister Laxmi Rajwade emphasised the role of society-government collaboration.
• Expansion & Support: On PM Modi’s 75th birthday, 75 gram panchayats in Surajpur were also declared child marriage-free. UNICEF provided technical support, awareness programs, and monitoring.
• Sets a national benchmark for social reform, demonstrates effective grassroots and government cooperation, and strengthens the pathway for a child marriage-free Chhattisgarh.

About Chhattisgarh:

• Chief Minister: Vishnu Deo Sai
• Governor: Ramen Deka
• Capital: Raipur
• National Parks: Indravati National Park, Kanger Valley National Park, Guru Ghasidas (Sanjay) National Park
• Wildlife Sanctuaries: Achanakmar Wildlife Sanctuary, Badalkhol Wildlife Sanctuary, Udanti Wildlife Sanctuary, Sitanadi Wildlife Sanctuary

RECENT NEWS

• Chhattisgarh, a state formed in 2000, has made remarkable strides in the power sector. From an initial capacity of 1,400 megawatts (MW) at the time of its formation, the state now generates 30,000 MW of electricity.

CURRENT AFFAIRS: AWARDS AND HONOURS

Andhra Pradesh Tourism Department Wins Global Tourism Award 2025

• The Andhra Pradesh Tourism Department won the Global Tourism Award 2025 for its outstanding initiatives in promoting Andhra Pradesh as a top tourist destination.
• The award was received by tourism consultant Nishitha Goyal at a ceremony in New Delhi.
• Recognised for efforts in sustainable tourism, heritage conservation, and cultural promotion.
• Key achievements include:
  • Development of new tourism circuits showcasing heritage and natural attractions.
  • Promotion of eco-friendly and community-based tourism projects.
  • Implementation of digital tourism campaigns targeting global audiences.
  • Showcasing cultural festivals, crafts, and spiritual heritage internationally.
• Major tourist attractions:
  • Spiritual Tourism: Tirupati, Srisailam, Amaravati.
  • Heritage Tourism: Lepakshi temple, Undavalli caves, Buddhist sites like Amaravathi and Thotlakonda.
  • Coastal Tourism: Beaches in Visakhapatnam, Bheemunipatnam, and Kakinada.
  • Eco & Adventure Tourism: Araku Valley, Lambasingi, Papikondalu.
• State vision for tourism includes infrastructure upgrades, public-private partnerships (PPP), skill development for youth, and smart tourism technology (AI guides, digital ticketing, VR experiences).
• The award is expected to boost international tourist arrivals, attract foreign investment, strengthen state branding, and create local employment opportunities.

About Andhra Pradesh:

• Chief Minister: N. Chandrababu Naidu
• Governor: S. Abdul Nazeer
• Capital: Amaravati
• National Parks: Sri Venkateswara National Park, Papikonda National Park
• Wildlife Sanctuaries: Coringa Wildlife Sanctuary, Pulicat Lake Bird Sanctuary, Kambalakonda Wildlife Sanctuary, Rollapadu Wildlife Sanctuary, Krishna Wildlife Sanctuary

Novotel Vijayawada Varun Recognised as Best 5-Star Deluxe Hotel

• Novotel Vijayawada Varun has been recognised as the Best 5-Star Deluxe Hotel at the Andhra Pradesh Tourism Excellence Awards 2025.
• The award was presented by Chief Minister N. Chandrababu Naidu. Manish Pathak, Hotel Manager, received the award and dedicated it to the hotel’s team.
• The hotel is Vijayawada’s first and only international 5-star deluxe property, featuring 233 rooms with world-class amenities, exceptional dining options, and versatile event spaces for weddings, conferences, and MICE tourism (Meetings, Incentives, Conferences, Exhibitions).
• The recognition enhances Vijayawada’s appeal as a business and tourist hub and aligns with the state’s vision of promoting world-class tourism infrastructure.

President Murmu Presents Diamond Jubilee Silver Trumpet and Banner to President’s Bodyguard

• President Droupadi Murmu presented the Diamond Jubilee Silver Trumpet and Trumpet Banner to the President’s Bodyguard (PBG) at Rashtrapati Bhavan, marking 75 years since its designation in 1950.
• PBG, the oldest regiment of the Indian Army, was raised in 1773 at Banaras (Varanasi) by Governor-General Warren Hastings as Governor-General’s Bodyguard (later Viceroy’s Bodyguard), originally with 50 cavalry troopers.
• Renamed President’s Bodyguard on 27 January 1950; first Silver Trumpet and Banner presented in 1957 by President Dr. Rajendra Prasad.
• Unique Distinction: Only regiment permitted two Standards – President’s Standard of Bodyguard and Regimental Standard of PBG.
• Soldiers are selected through a rigorous process based on physical attributes, discipline, and skill, mounted on war horses in ceremonial attire, blending traditional cavalry ethos with modern professionalism.
• Since independence, PBG has served 1 Governor General and 15 Presidents, symbolising discipline, heritage, and loyalty.
• The award recognises 75 years of distinguished service, reflecting the prestige of Rashtrapati Bhavan and pride of the Indian Army.

Dr. R. Arthur James Honoured with Tamil Nadu Scientist Award (TANSA) 2022

• Dr. R. Arthur James, Professor and Chairman of the Department of Marine Science, Bharathidasan University (BDU), received the Tamil Nadu Scientist Award (TANSA) 2022 in Environmental Science.
• Award Institution: Tamil Nadu State Council for Science and Technology (TANSA), one of the highest recognitions for scientists in the state.
• Award Ceremony:
  • Held at Resource Centre for Tribal Development, Udhagamandalam.
  • Includes cash prize of ₹50,000 and a citation.
  • Conferred by Govi. Chezhiaan, Minister for Higher Education, and M. P. Saminathan, Minister for Tamil Development, Information and Publicity.
• Recognition: Award celebrates outstanding contributions in environmental science, focusing on marine research and sustainable environmental practices.
• TANSA Awards:
  • Presented annually to scientists demonstrating excellence across disciplines.
  • Aim to inspire innovation, research, and problem-solving, and encourage young researchers to pursue impactful scientific work.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Major General G. Srinivas, veteran of Operation Sindoor logistics, assumes command of College of Defence Management

• Major General G. Srinivas was assumed charge as the Commandant of the College of Defence Management (CDM), Secunderabad on October 1, 2025.
• He succeeded Lieutenant General Harsh Chhibber, who was elevated as Director General Information Systems.
• Before his appointment, Major General Srinivas was responsible for operational logistics planning and execution in the Western Command theatre during Operation Sindoor.
• The College of Defence Management (CDM) is a premier training institution of the Indian Armed Forces, equipping senior officers of the Army, Navy, and Air Force with modern management concepts, practices, and leadership skills.

Rajesh Agrawal Takes Over as Secretary of Department of Commerce

• Shri Rajesh Agrawal, IAS (1994 Batch) has assumed charge as Secretary, Department of Commerce, Ministry of Commerce & Industry in New Delhi.
• He is an accomplished administrator with 30 years of experience in governance, policy making, and implementation across skilling, HR development, apprenticeship, power, fertilizer, agriculture, and MSMEs.
• He played a key role in shaping India’s skill development policies and represented India at the World Skills Governing Council for three years.
• He has also steered reforms in Manipur, Jharkhand, and Bihar.
• Prior to this, he was responsible for India’s trade negotiations under Free Trade Agreements (FTAs).
• He served as Chief Negotiator for India–US Bilateral Trade Agreement, Indo-Pacific Economic Forum, India–Australia CECA, and ASEAN FTA review.

Indian-Origin Amita Chaudhury Appointed Chair of UN’s Global Sustainable Insurance Board

• Amita Chaudhury has been appointed as the first woman of Indian origin to chair the Global Sustainable Insurance Board under the UNEP Finance Initiative (UNEP FI).
• She will serve as Chair of the Board for UNEP FI’s Principles for Sustainable Insurance (PSI), which aims to promote sustainable insurance practices worldwide.
• Amita Chaudhury has over 20 years of global leadership experience across Singapore, London, and India, with senior roles in Unilever and other companies.
• The UNEP FI Principles for Sustainable Insurance (PSI) were launched at the 2012 UN Conference on Sustainable Development, providing a global framework for the insurance industry to address environmental, social, and governance (ESG) risks and opportunities.
• The UNEP Finance Initiative (UNEP FI) is headquartered in Geneva.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Navy, Army Conclude Joint Amphibious Exercise ‘Jal Prahar 2025’ on Eastern Seaboard

• The Indian Navy successfully concluded its biannual joint amphibious exercise ‘Jal Prahar 2025’ in coordination with the Indian Army along the eastern seaboard.
• The exercise was conducted in two phases to validate inter-service synergy, operational planning, and amphibious warfare capabilities.
• The Harbour Phase was held from September 16–20, 2025 at Visakhapatnam, focusing on onboarding Army troops onto INS Gharial, along with training, safety briefings, sports, and interaction sessions.
• The Sea Phase was conducted from September 21–23, 2025 at Kakinada, involving live amphibious operations, including hard beaching, deployment of Landing Craft Assault (LCAs), and BMP infantry fighting vehicles.

INS Sutlej Reaches Mauritius to Conduct 18th Joint Hydrographic Survey at Port Louis

• INS Sutlej, a specialised hydrographic survey vessel of the Indian Navy, arrived at Port Louis, Mauritius on 29 September 2025 to undertake the 18th Joint Hydrographic Survey.
• The mission is conducted under a bilateral MoU on Hydrography, signed during the 14th Joint Committee Meeting on Hydrography earlier this year.
• The current survey mission will cover an extensive area of 35,000 square nautical miles.
• As part of capacity-building efforts, officers from various Mauritian ministries will receive hands-on training in hydrographic data collection and processing onboard INS Sutlej.
• The deployment reaffirms India–Mauritius strategic maritime cooperation, focusing on navigational safety, sustainable management of ocean resources, and regional collaboration in the Indian Ocean Region (IOR).

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

AstroSat, India’s First Multi-Wavelength Space Observatory, Marks 10 Years in Orbit

• AstroSat, India’s first multi-wavelength astronomy satellite, was launched on 28 September 2015 by PSLV-C30 from Sriharikota, with a lift-off mass of 1515 kg into a 650 km orbit.
• AstroSat has completed 10 years in orbit (2025) and continues to deliver new and exciting results in astrophysics research.

Key Highlights :

• AstroSat observes the universe in ultraviolet, visible, and X-ray bands, making it a versatile space observatory for studying cosmic phenomena.
• AstroSat solved a 20-year-old puzzle involving a red giant star emitting both UV and infrared light at the start of its mission.
• Major discoveries include detection of far-UV photons from 9.3 billion light years away, discovery of fast-spinning black holes, X-ray emissions from binary stars, X-ray polarisation studies, and emission from the Butterfly Nebula extending 3 times the known size.
• It has studied black holes, neutron stars, quasars, and supernovae, enabling groundbreaking insights across the electromagnetic spectrum.
• AstroSat is a collaborative project of ISRO, Indian research institutions, and international partners like Canada and the UK.
• AstroSat has a registered user base of ∼3400 scientists from 57 countries, including the US, Afghanistan, and Angola.
• In India, 132 universities have used AstroSat data, fostering a new generation of astronomers.
• Initially designed for 5 years, AstroSat has exceeded its life span and all five scientific payloads are still working satisfactorily.

CURRENT AFFAIRS: MOUS AND AGREEMENT

India’s Free Trade Agreement with EFTA Nations to Come into Force from October 1, 2025

• India will implement its first Free Trade Agreement (FTA) with a European bloc through the Trade and Economic Partnership Agreement (TEPA) with European Free Trade Association (EFTA) countries—Switzerland, Norway, Iceland, and Liechtenstein—from October 1, 2025.
• Announced by Union Minister of Commerce and Industry Piyush Goyal, the agreement aims to enhance trade, investment, technology transfer, and skills development between India and EFTA nations.

Key Highlights:

• Trade and Market Access: TEPA provides phased tariff reductions on goods and improved market access for services, investments, and intellectual property rights (IPR).
• Investment Commitment: EFTA countries have pledged USD 100 billion over 15 years, expected to generate approximately 1 million jobs in India.
• Strategic Importance:
  • India’s first FTA with a European bloc, strengthening ties with advanced economies.
  • Supports Indian exports in pharmaceuticals, textiles, gems and jewellery, auto components, and chemicals.
  • Facilitates deeper integration into European supply chains, particularly in pharma, engineering, and clean technology sectors.
• Expansion into high-value European markets, R&D collaboration, start-up funding, and promotion of sustainable manufacturing.
• Challenges: Sensitive sectors like agriculture and dairy remain partially protected; trade imbalances and readiness of Micro, Small and Medium Enterprises (MSMEs) could affect benefits.
• Alignment with India’s Trade Vision: Contributes to India’s goal of becoming a USD 5 trillion economy and a global manufacturing hub; complements FTAs with UAE and Australia and ongoing negotiations with EU, US, New Zealand, Oman, and Chile, alongside domestic reforms like Production Linked Incentive (PLI) schemes, Goods and Services Tax (GST) simplification, and infrastructure upgrades.

CURRENT AFFAIRS: RANKING AND REPORTS

Elon Musk Becomes First Person with USD 500 Billion Net Worth

• According to Forbes Real-Time Billionaires tracker (October 2025), Elon Musk, CEO of Tesla, Space Exploration Technologies (SpaceX), and xAI, has officially achieved a net worth of USD 500.1 billion, becoming the world’s richest individual.
• He is USD 150 billion ahead of Larry Ellison, co-founder of Oracle. Musk had previously crossed the USD 400 billion milestone in December 2024.
• His wealth surge is mainly driven by Tesla, SpaceX, and xAI.

Key Highlights

• Tesla:
  • Musk owns 12.4% stake in Tesla (as of September 15, 2025).
  • Tesla stock increased 14% in 2025, including a 4% gain in a single day, adding USD 9.3 billion to Musk’s net worth.
  • Investor confidence improved after Musk stepped down from the Department of Government Efficiency (DOGE) under former President Trump and refocused on Tesla.
  • Musk personally purchased USD 1 billion worth of Tesla shares, signalling confidence in the company’s transition from electric vehicles to artificial intelligence (AI) and robotics.
  • The Tesla board proposed a USD 1 trillion compensation plan for Musk with financial and operational targets; if achieved, he could officially become the world’s first trillionaire by March 2033.
• Space Exploration Technologies (SpaceX): Valued at around USD 400 billion after insider share-sale discussions in July 2025.
• xAI: Initially valued at USD 75 billion in July 2025, with potential to reach USD 200 billion depending on future fundraising rounds.
• Significance:
  • Musk’s wealth demonstrates dominance in electric vehicles, space technology, and AI.
  • He may become the world’s first trillionaire by 2033, highlighting strategic investments and market confidence in technology-driven sectors.

National Crime Records Bureau 2023 Report Highlights Manipur as Most Violent State in Northeast

• Manipur recorded the highest number of violent crimes and rioting cases in the Northeast in 2023, according to the National Crime Records Bureau (NCRB).
• The surge in crime was largely due to the May 2023 ethnic clashes between Meiteis of Imphal Valley and tribal Kuki communities, resulting in 260+ deaths and displacement of thousands, creating a law-and-order crisis.
• NCRB 2023 Key Figures for Manipur:
  • Violent Crimes: 14,427 cases (631 in 2022; 545 in 2021)
  • Rioting Cases: 5,421 (highest in Northeast)
  • Arson Cases: 6,203 incidents
  • Crimes Against Scheduled Tribes: 3,339 cases (1 in 2022)
  • Robbery & Dacoity: 330 robberies; 1,213 dacoities
  • Murders & Attempted Murders: 151 murders; 818 attempted murders
  • Kidnapping & Sexual Crimes: 89 kidnappings; 27 rapes
  • Crimes Against Women: 201 cases (decline from 248 in 2022 and 302 in 2021)
• Assam ranked second in violent crimes with 11,552 cases in 2023, highlighting Manipur’s extraordinary surge.
• The report underscores the devastating impact of ethnic violence and political instability on law and order, emphasizing the need for peace restoration, justice, and rehabilitation for affected communities.

CURRENT AFFAIRS : OBITUARIES

Legendary Hindustani Classical Maestro Pandit Chhannulal Mishra Passes Away at 89 in Mirzapur

• Pandit Chhannulal Mishra, a legendary figure in Hindustani classical music, passed away at the age of 89 in Mirzapur on October 2, 2025, coinciding with Dussehra.
• He was regarded as the spiritual voice of the Banaras Gharana, symbolizing tradition, devotion, and purity in Indian classical music.

About Pandit Chhannulal Mishra :

• Born in 1936 in Hariharpur village, Azamgarh (Uttar Pradesh), he was introduced to music by his father Pandit Badri Prasad Mishra.
• His training included the Kirana gharana khayal tradition under Ustad Abdul Ghani Khan and refinement under musicologist Thakur Jaidev Singh.
• His lineage connected him to tabla maestro Pandit Anokhe Lal, his father-in-law.
• He mastered both Khayal gayaki and semi-classical/folk forms such as Thumri, Dadra, Chaiti, Kajri, Sohar, and Bhajans.
• His famous renditions include “Sawan Jhar Lagela Dheere Dheere”, “Kaise Sajan Ghar Jaibe”, and “Barsan Laagi Badriya” (with Girija Devi).
• He also contributed to cinema in Prakash Jha’s film Aarakshan (2011) with songs like “Saans Albeli” and “Kaun Si Dor”.
• He was described as the “folk voice of Kashi” by Malini Awasthi and remembered as an “irreplaceable artist” by Durga Jasraj and Abhay Sopori.

CURRENT AFFAIRS: IMPORTANT DAYS

World Animal Day is celebrated on 4th October

• World Animal Day is celebrated on 4th October of every year.
• This day is observed to raise awareness about the welfare standards of the animals.
• The theme for World Animal Day 2025 is “Save Animals, Save the Planet!”.

History

• World Animal Day was first organized by Heinrich Zimmermann, the German Writer on March 24, 1925, in Berlin.
• More than five thousand people attended this event.
• Later the event of World Animal Day was moved to October 4 in the year of 1929.
• Every year Zimmermann worked hard for the promotion of World Animal Day.
• In May 1931, the International Animal Protection Congress in Florence, Italy, adopted a resolution accepted his proposal, and announced the 4th October as World Animal Day.
• The Finnish Association of Animal Protection Associations (SEY) organized various events on Animal Week and distributed material to the schools.

Daily CA One- Liner: 4^th October

• On September 29, 2025, the Reserve Bank of India (RBI) announced seven regulatory changes to improve policy rate transmission, ease gold loan norms, and relax large exposure rules.
• Small Industries Development Bank of India (SIDBI) reported a net profit of Rs 4,811 crore in FY 2024-25, marking a 19.5% rise and an all-time high.
• Bank of Baroda (BoB) has signed a Co-Lending Agreement with IIFL Finance, an NBFC.
• The Reserve Bank of India (RBI) established a new six-member Payments Regulatory Board (PRB) to regulate and supervise India’s payment systems, replacing the Board for Regulation and Supervision of Payment and Settlement Systems (BPSS).
• SBI Foundation, the CSR arm of State Bank of India (SBI), has launched the SBI Platinum Jubilee Asha Scholarship 2025 with a commitment of ₹90 crore in FY26.
• Tata AIG became the fourth health insurer to suspend cashless facilities at Max Hospitals, following Star Health, Niva Bupa, and Care Health.
• Axis Bank, in collaboration with Freecharge, has introduced India’s first gold-backed credit line accessible through UPI, designed for MSMEs, self-employed individuals, and merchants.
• The State Bank of India (SBI) leads the debit card market with a 24% share as of August 2025.
• Major General G. Srinivas was assumed charge as the Commandant of the College of Defence Management (CDM), Secunderabad on October 1, 2025.
• Shri Rajesh Agrawal, IAS (1994 Batch) has assumed charge as Secretary, Department of Commerce, Ministry of Commerce & Industry in New Delhi.
• Amita Chaudhury has been appointed as the first woman of Indian origin to chair the Global Sustainable Insurance Board under the UNEP Finance Initiative (UNEP FI).
• The Indian Navy successfully concluded its biannual joint amphibious exercise ‘Jal Prahar 2025’ in coordination with the Indian Army along the eastern seaboard.
• INS Sutlej, a specialised hydrographic survey vessel of the Indian Navy, arrived at Port Louis, Mauritius on 29 September 2025 to undertake the 18th Joint Hydrographic Survey.
• AstroSat, India’s first multi-wavelength astronomy satellite, was launched on 28 September 2015 by PSLV-C30 from Sriharikota, with a lift-off mass of 1515 kg into a 650 km orbit.

• Pandit Chhannulal Mishra, a legendary figure in Hindustani classical music, passed away at the age of 89 in Mirzapur on October 2, 2025, coinciding with Dussehra.
• The Tata Group, in partnership with Airbus, is launching India’s first private-sector helicopter Final Assembly Line (FAL) at Vemagal, Karnataka to manufacture the Airbus H125 helicopter
• The Government of India (GoI) will mandate Acoustic Vehicle Alerting System (AVAS) in all Electric Vehicles (EVs) from October 1, 2027 to enhance pedestrian safety
• Telugu Language Day 2025 was celebrated in Saudi Arabia through a P4 model awareness programme, uniting over 2,000 attendees including Non- Resident Indians (NRIs) to promote culture and social empowerment
• Prime Minister Narendra Modi released a commemorative postage stamp and coin marking the 100-year journey of RSS
• Balod district, Chhattisgarh, officially recognised as India’s first child marriage-free district under the “Child Marriage Free India” campaign launched on 27 August 2024
• The Andhra Pradesh Tourism Department won the Global Tourism Award 2025 for its outstanding initiatives in promoting Andhra Pradesh as a top tourist destination
• Novotel Vijayawada Varun has been recognised as the Best 5-Star Deluxe Hotel at the Andhra Pradesh Tourism Excellence Awards 2025.
• President Droupadi Murmu presented the Diamond Jubilee Silver Trumpet and Trumpet Banner to the President’s Bodyguard (PBG) at Rashtrapati Bhavan, marking 75 years since its designation in 1950
• Dr. R. Arthur James, Professor and Chairman of the Department of Marine Science, Bharathidasan University (BDU), received the Tamil Nadu Scientist Award (TANSA) 2022 in Environmental Science
• India will implement its first Free Trade Agreement (FTA) with a European bloc through the Trade and Economic Partnership Agreement (TEPA) with European Free Trade Association (EFTA) countries—Switzerland, Norway, Iceland, and Liechtenstein—from October 1, 2025
• According to Forbes Real-Time Billionaires tracker (October 2025), Elon Musk, CEO of Tesla, Space Exploration Technologies (SpaceX), and xAI, has officially achieved a net worth of USD 500.1 billion, becoming the world’s richest individual
• Manipur recorded the highest number of violent crimes and rioting cases in the Northeast in 2023, according to the National Crime Records Bureau.
• World Animal Day is celebrated on 4th October of every year.