Daily Current Affairs Quiz – 02nd & 03rd October 2025

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Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2025 of 02nd & 03rd October 2025. Daily GK quiz online for bank & competitive exam. Here we have given the Daily Current Affairs Quiz based on the previous days Daily Current Affairs updates. Candidates preparing for IBPS, SBI, RBI, RRB, SSC Exam 2025 & other competitive exams can make use of these Current Affairs Quiz.

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1) According to the Reserve Bank of India (RBI) in its Monetary Policy Report (Oct 2025), released after the 57th MPC meeting, kept the repo rate unchanged at 5.50%. What is India’s revised GDP growth forecast for FY 2025-26 according to the report?

(a) 6.2%

(b) 6.4%

(d) 6.8%

(e) 7.0%

2) The Life Insurance Corporation of India (LIC) has recently entered into a bancassurance partnership with which private sector bank, enabling customers to access LIC’s life insurance products through its branch and digital network?

(a) Federal Bank

(b) IndusInd Bank

(d) IDFC First Bank

(e) RBL Bank

3) As per RBI’s “Basel III Capital Regulations – PDI in AT1 Capital – Eligible Limit for Foreign Currency/Rupee Denominated Bonds Overseas) Directions, 2025”, effective October 1, 2025, PDIs issued overseas are eligible for inclusion in Additional Tier 1 (AT1) capital up to what limit of Risk Weighted Assets (RWAs)?

(a) 1.0% of RWAs

(b) 1.25% of RWAs

(d) 2.0% of RWAs

(e) 2.5% of RWAs

4) As per recent RBI guidelines, which of the following statements is correct regarding floating-to-fixed loan switching and spread over benchmark rules for banks/NBFCs?

(a) Borrowers continue to have a mandatory right to switch from floating to fixed rate on EMI-based personal loans.

(b) Lenders must permit borrowers unlimited switches during the loan tenure.

(d) MSME loans linked to EBLR may carry a spread based on credit profile, revisable only once in 3 years.

(e) The Cash Reserve Ratio (CRR) was increased from 3% to 4%, raising cost of funds for banks.

5) According to RBI’s amended Lending Against Gold and Silver Collateral Directions, 2025, banks are prohibited from lending for which purpose?

(a) Providing working capital loans to jewellers

(b) Lending for industrial use of gold

(d) Lending against gold used as raw material

(e) Lending to Tier 3 and Tier 4 UCBs

6) When will the revised Large Exposures Framework (LEF) provisions for foreign bank branches come into effect?

(a) October 1, 2025

(b) January 1, 2026

(d) July 1, 2026

(e) Immediately

7) Recently, the Reserve Bank of India (RBI) released draft amendments to the Credit Information Reporting Directions, 2025, effective April 1, 2026. By which day of the next month must Credit Institutions (CIs) submit a full monthly file containing all active accounts and closed accounts?

(a) 1st

(b) 3rd

(d) 7th

(e) 10th

8) The Cabinet Committee on Economic Affairs (CCEA) approved the opening of 57 new KendriyaVidyalayas (KVs). For the first time, these KVs will include which of the following as per National Education Policy (NEP) 2020?

(a) Vocational Training Classes

(b) Sports Academies

(d) Skill Development Labs

(e) Balvatikas (3 years pre-primary)

9) The Cabinet Committee on Economic Affairs (CCEA) approved the widening of the Kalibor–Numaligarh section of NH-715. Which of the following measures is included to protect wildlife near Kaziranga National Park?

(a) 10 km fenced corridor

(b) 34.5 km elevated stretch for free animal passage

(d) Underground tunnels for animals

(e) Relocation of wildlife to nearby forests

10) For the Marketing Season 2026-27, which Rabi crop received the highest absolute increase in Minimum Support Price (MSP) as approved by the Cabinet Committee on Economic Affairs (CCEA)?

(a) Wheat

(b) Gram

(d) Lentil/Masur

(e) Barley

11) In Oct’25, the Union Cabinet approved a Dearness Allowance (DA) hike of 3% for Central Government employees and Dearness Relief (DR) for pensioners effective from 1 July 2025. What was the existing DA/DR percentage before this increase?

(a) 50%

(b) 52%

(d) 55%

(e) 60%

12) Which portal will be used to manage foundation and certified seeds under the Mission for Aatmanirbharta in Pulses?

(a) eNAM portal

(b) SATHI portal

(d) AgriStack portal

(e) Kisan Suvidha portal

13) What is the total cost allocated for Biomedical Research Career Programme (BRCP) Phase-III (2025-26 to 2037-38) including the additional 6 years?

(a) ₹1,000 crore

(b) ₹1,250 crore

(d) ₹2,000 crore

(e) ₹2,500 crore

14) Where was the 42nd International Civil Aviation Organization (ICAO) Assembly Session, during which India was re-elected to Part II of the Council, held?

(a) New York, USA

(b) Montreal, Canada

(d) London, UK

(e) Paris, France

15) When will the UN treaty on the Conservation and Sustainable Use of Marine Biological Diversity of Areas Beyond National Jurisdiction (BBNJ Agreement) enter into force?

(a) June 2023

(b) January 2025

(d) June 2026

(e) January 2026

16) Where was the 69th International Atomic Energy Agency (IAEA) General Conference, which accepted the Maldives as its 181st membership, held?

(a) Vienna, Austria

(b) New York, USA

(d) Paris, France

(e) London, UK

17) What was the theme of the third Global Food Regulators Summit 2025 organized by Food Safety and Standards Authority of India (FSSAI)?

(a) “Evolving Food Systems – Yatha Annam Tatha Manah”

(b) “Healthy Food, Healthy Life”

(d) “Sustainable Diets for Future”

(e) “Food Safety and Security”

18) Which Union Minister launched the MY Bharat Mobile Application in New Delhi?

(a) Prime Minister Narendra Modi

(b) Kiren Rijiju

(d) Dr. Mansukh Mandaviya

(e) Smriti Irani

19) What initiative has Food Safety and Standards Authority of India (FSSAI) launched on its FoSCoS portal for Ayurveda Aahara products?

(a) Online sales platform

(b) Dedicated licensing and registration window

(d) Research and development portal

(e) Subsidy application portal

20) Who assumed charge as the Director General of the National Cadet Corps (NCC) on 1 October 2025?

(a) Lt Gen Gurbirpal Singh

(b) Lt Gen Virendra Vats

(d) Lt Gen Raj Shukla

(e) Lt Gen Anil Kumar

21) During Exercise Pacific Reach 2025, which Indian Deep Submergence Rescue Vehicle (DSRV) undertook its maiden dive outside the Indian Ocean Region?

(a) Tiger I

(b) Tiger II

(d) Nistar

(e) Shankush

22) How many strategic MoUs did National Institute of Food Technology Entrepreneurship and Management (NIFTEM-K), Kundli sign during World Food India-2025?

(a) 5

(b) 7

(d) 9

(e) 15

23) Under the MoU between Department for Promotion of Industry and Internal Trade (DPIIT) and Thermo Fisher Scientific, how many biotech startups will the BioVerse Challenge directly support?

(a) 100

(b) 150

(d) 300

(e) 400

24) Recently, the Department of Posts signed an MoU with which institute to promote sustainable packaging and enhance postal service efficiency?

(a) Indian Institute of Technology (IIT)

(b) Indian Institute of Packaging (IIP)

(d) Central Institute of Plastics Engineering & Technology (CIPET)

(e) Indian Institute of Management (IIM)

25) As per the news, on October 2 is observed globally as the International Day of Non-Violence. In which year did the United Nations General Assembly declare it?

(a) 2005

(b) 2006

(d) 2008

(e) 2007

Answers :

1) Answer: D

The Reserve Bank of India (RBI) released its Monetary Policy Report (Oct 2025) after the 57th MPC meeting (Sep 29–Oct 1, 2025).

Repo rate was kept unchanged at 5.50% with a neutral stance to balance growth and stability.

The RBI revised India’s GDP growth forecast for FY 2025-26 to 6.8% (earlier 6.5%).

India’s real GDP grew 7.8% in Q1 FY 2025-26, the fastest in 7 quarters, led by investment and consumption.

Growth projections for FY 2025-26: 6.8% (Q1: 7.8%, Q2: 7.0%, Q3: 6.4%, Q4: 6.2%).

2) Answer: E

Short Explanation:

The Life Insurance Corporation of India (LIC), the country’s largest life insurer, has entered into a bancassurance partnership with RBL Bank Limited..

Detailed Explanation:

The Life Insurance Corporation of India (LIC), the country’s largest life insurer, has entered into a bancassurance partnership with RBL Bank Limited..

This strategic collaboration will allow RBL Bank customers to access LIC’s life insurance products through the bank’s branch network and digital channels.

The partnership was formally announced in the presence of Shri R. Doraiswamy, CEO & MD, LIC of India and Shri R. Subramaniakumar, MD & CEO, RBL Bank Ltd. along with senior officials.

Through this collaboration, customers will have access to LIC’s diverse product portfolio including term plans, endowment policies, pension plans, and unit-linked insurance plans (ULIPs).

The tie-up will leverage the combined network of over 3600 LIC branches and nearly 570 RBL Bank branches (with 1474 business correspondent branches, of which 297 are banking outlets).

3) Answer: C

Short Explanation:

The Reserve Bank of India (RBI) issued the “Basel III Capital Regulations – PDI in AT1 Capital – Eligible Limit for Foreign Currency/Rupee Denominated Bonds Overseas) Directions, 2025”, effective from October 1, 2025.

PDIs issued overseas are now eligible for inclusion in Additional Tier 1 (AT1) capital up to 1.5% of Risk Weighted Assets (RWAs) based on the latest audited or limited review financial statements.

Detailed Explanation:

The directions revise the eligible limit for Perpetual Debt Instruments (PDIs) denominated in foreign currency or rupee-denominated bonds overseas.

The directions were issued under Section 35A of the Banking Regulation Act, 1949 in public interest.

4) Answer: D

Banks and Non-Banking Financial Company (NBFC) are no longer mandatorily required to give borrowers the option to switch from floating rate to fixed rate on EMI-based personal loans; it is now at the lender’s discretion.

Lenders may allow switching of loan rates as per their Board-approved policy, including the number of times a borrower can switch during the loan tenure.

Banks can decide a spread over the benchmark, but all components except credit risk premium can be revised only once in three years.

MSME loans are linked to external benchmarks, and banks may charge a spread over EBLR (External Benchmark Linked Lending Rate) based on the borrower’s credit profile, which can be changed only once in three years.

The change is driven by decrease in cost of funds and reduction in CRR from 4% to 3%, lowering negative returns for banks.

5) Answer: C

The Reserve Bank of India (RBI) amended its Lending Against Gold and Silver Collateral Directions, 2025, effective October 1, 2025.

Banks are prohibited from lending for the purchase of gold or silver in any form, or against the security of primary gold or silver.

A carve-out allows Scheduled Commercial Banks (SCBs) to provide working capital loans to jewellers.

The amendment extends this carve-out to cover any need-based working capital requirements of borrowers using gold as raw material or input in manufacturing or industrial processing.

Tier 3 and Tier 4 Urban Co-operative Banks are permitted to grant such working capital loans under the same guidelines as SCBs.

The amendment aims to provide greater flexibility to banks while supporting industrial and manufacturing activities involving gold.

The changes are incorporated into RBI (Lending Against Gold and Silver Collateral) Directions, 2025.

6) Answer: C

The Reserve Bank of India (RBI) has issued a draft circular proposing amendments to the Large Exposures Framework (LEF) and LEF-Credit Risk Mitigation (CRM) framework for foreign bank branches in India.

The Amendment Circular has been issued under Sections 21 and 35A of the Banking Regulation Act, 1949, along with other enabling laws, in the public interest.

The revised provisions will come into effect from April 1, 2026, though banks are allowed to implement them earlier.

The amendments focus on tightening reporting and calculation of intra-group exposures of foreign banks.

The intra-group exemption under LEF has been removed. Exposures of an Indian branch to its Head Office (HO) or any branch/subsidiary of the HO worldwide will now be counted under LEF and must comply with counterparty limits.

7) Answer: B

The Reserve Bank of India (RBI) released draft amendments to the Credit Information Reporting Directions, 2025, effective April 1, 2026, to strengthen the credit reporting framework.

Credit Institutions (CIs) and Credit Information Companies (CICs) must now update credit information weekly on the 7th, 14th, 21st, 28th, and last day of the month, or at shorter mutually agreed intervals.

CIs must submit a full monthly file containing all active accounts and accounts where the borrower relationship has ended by the 3rd day of the next month.

The current RBI Master Direction – Credit Information Reporting Directions, 2025 mandates fortnightly or shorter submissions of credit information by CIs to CICs.

8) Answer: E

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved the opening of 57 new KendriyaVidyalayas (KVs) under Civil sector.

Total Outlay: ₹5862.55 crore over 9 years (2026–27 onwards)

Capital Expenditure: ₹2585.52 crore

Operational Expenditure: ₹3277.03 crore

For the first time, these KVs will have Balvatikas (3 years pre-primary) as per National Education Policy (NEP) 2020.

Distribution: 17 States/UTs covered → 20 in districts without KVs, 14 in Aspirational Districts, 4 in Left Wing Extremism (LWE) districts, 5 in North-Eastern/Hilly areas.

9) Answer: B

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi approved widening of Kalibor–Numaligarh section of NH-715 (85.675 km) to 4 lanes with wildlife-friendly measures near Kaziranga National Park.

Mode: Engineering, Procurement and Construction (EPC).

Total Capital Cost: ₹6957 crore (Civil Cost: ₹4829 cr; Land Acquisition: ₹622 cr).

Wildlife Corridor: 34.5 km elevated stretch for free animal passage across Kaziranga–Karbi Anglong; plus 30.22 km road upgradation & 21 km bypasses (Jakhalabandha–11.5 km; Bokakhat–9.5 km).

Connectivity: Links with NH-127, NH-129, SH-35; integrates with 3 airports (Tezpur, Lilabari, Jorhat) &3 railway stations (Nagaon, Jakhalabandha, Vishwanath Chariali).

10) Answer: C

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi approved the increase in Minimum Support Prices (MSP) for all mandated Rabi crops for Marketing Season 2026-27.

The highest absolute increase is for Safflower (+₹600/quintal), followed by Lentil/Masur (+₹300/quintal).

Other hikes: Rapeseed & Mustard (+₹250/quintal), Gram (+₹225/quintal), Barley (+₹170/quintal), Wheat (+₹160/quintal).

The decision ensures remunerative prices to farmers, aligned with the Union Budget 2018-19 policy of fixing MSP at 1.5x All-India Weighted Average Cost of Production.

11) Answer: D

Short Explanation:

Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the release of an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners.

Effective from 01 July 2025, the hike represents an increase of 3% over the existing 55% of Basic Pay/Pension, aimed at compensating for price rise.

Detailed Explanation:

Effective from 01 July 2025, the hike represents an increase of 3% over the existing 55% of Basic Pay/Pension, aimed at compensating for price rise.

The decision will benefit about 49.19 lakh Central Government employees and 68.72 lakh pensioners.

The combined impact on the exchequer due to the increase in DA and DR is Rs. 10,083.96 crore per annum.

The hike is in line with the accepted formula based on the recommendations of the 7th Central Pay Commission.

12) Answer: B

Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the Mission for Aatmanirbharta in Pulses, a 6-year programme (2025-26 to 2030-31) with a financial outlay of Rs. 11,440 crore.

Objective: Achieve self-sufficiency in pulses, reduce import dependency, boost domestic production, and enhance farmers’ income.

India is the world’s largest producer and consumer of pulses, yet rising demand has led to 15–20% import dependency.

Seed Production Plan: States to prepare 5-year rolling plans; ICAR to supervise breeder seeds; state and central agencies to manage foundation and certified seeds via the SATHI portal.

Certified Seed Distribution: 126 lakh quintals to be distributed, covering 370 lakh hectares by 2030-31.

13) Answer: C

Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the continuation of the Biomedical Research Career Programme (BRCP), Phase-III.

Implemented by Department of Biotechnology (DBT) in partnership with the Wellcome Trust (WT), UK and the SPV India Alliance.

Duration & Cost:

Phase-III (2025-26 to 2030-31) with an additional 6 years (2031-32 to 2037-38) to service fellowships and grants.

Total cost: Rs. 1500 crore (DBT – Rs. 1000 crore, WT, UK – Rs. 500 crore).

14) Answer: B

India has been re-elected to Part II of the Council of the International Civil Aviation Organization (ICAO), a specialized UN agency, which includes States making the largest contribution to international civil air navigation facilities.

The election was held on 27 September 2025 during the 42nd ICAO Assembly Session in Montreal, Canada.

India secured more votes than in 2022, reflecting increased confidence in its leadership and commitment to global civil aviation.

India’s ICAO Role: Founding member since 1944, with 81 years of uninterrupted presence; contributes to policy development, regulatory frameworks, international standards, and promotes safe, secure, sustainable, harmonized, and gender-inclusive civil aviation.

15) Answer: E

A landmark UN treaty to safeguard marine biodiversity on the high seas has received the required 60 ratifications, enabling it to enter into force in January 2026.

Morocco and Sierra Leone became the 60th and 61st parties to ratify the pact.

The treaty, officially called the Agreement under UNCLOS on the Conservation and Sustainable Use of Marine Biological Diversity of Areas Beyond National Jurisdiction (BBNJ Agreement), was adopted in June 2023 after nearly two decades of negotiations.

The High Seas Treaty covers two-thirds of the world’s ocean area that lies beyond national boundaries.

From 17 January 2026, the treaty will support global biodiversity targets, including the goal to protect 30% of land and sea areas by 2030 under the Kunming-Montreal Global Biodiversity Framework.

16) Answer: A

The International Atomic Energy Agency (IAEA) accepted the Maldives’ application for membership at its 69th General Conference in Vienna, Austria.

The Maldives became the 181st member country of the IAEA on 15th September 2025.

The 69th IAEA General Conference focused on nuclear peace, non-proliferation, and the peaceful use of nuclear technology, with a Scientific Forum on water management and the inauguration of a new Visitor Centre.

17) Answer: A

The Union Health Minister Jagat Prakash Nadda inaugurated the third Global Food Regulators Summit 2025 at Bharat Mandapam, emphasizing the link between food, physical health, and mental well-being.

He highlighted obesity as a major health concern and reiterated Prime Minister Modi’s call for a 10% reduction in edible oil consumption, while praising FSSAI’s Eat Right India initiative for encouraging healthy and sustainable diets.

The summit was organized by FSSAI under the theme “Evolving Food Systems – Yatha Annam Tatha Manah”, stressing how food quality affects emotional balance and societal values.

18) Answer: D

Union Minister Dr. Mansukh Mandaviya launched the MY Bharat Mobile Application in New Delhi.

The app is part of the MY Bharat platform, an online Youth Leadership and Social Engagement Platform under the Department of Youth Affairs (DoYA), Ministry of Youth Affairs & Sports.

The app was developed by Digital India Corporation (DIC), Ministry of Electronics & IT (MeitY).

19) Answer: B

The Food Safety and Standards Authority of India (FSSAI) has launched a dedicated licensing and registration window for Ayurveda Aahara products on its FoSCoS portal.

This step allows manufacturers to easily apply for licenses to produce and market traditional Ayurvedic foods.

A new ‘Kind of Business’ (KoB) framework has been introduced to formalize and regulate the Ayurveda Aahara sector.

The framework aligns traditional Ayurvedic recipes with modern food safety and quality standards.

20) Answer: B

Lt Gen Virendra Vats assumed charge as the Director General of National Cadet Corps (NCC) on October 1, 2025, succeeding Lt Gen Gurbirpal Singh.

21) Answer: C

The Indian Navy’s Submarine Rescue Unit (East) embarked on INS Nistar showcased its capability at Exercise Pacific Reach 2025 (XPR-25) hosted by the Republic of Singapore Navy (RSN).

XPR-25 (15–25 Sept 2025) saw participation from 40+ nations, conducted in two phases: shore (15–20 Sep) and sea (21–25 Sep) in the South China Sea.

India presented its Deep Submergence Rescue Vehicle (DSRV) system philosophy and post-rescue medical preparedness during the shore phase.

On 23 Sept 2025, Indian DSRV Tiger X undertook its maiden dive outside the Indian Ocean Region, achieving first foreign submarine mating with ROK Navy’s Submarine Shin Dol-Seok (S-082).

22) Answer: D

National Institute of Food Technology Entrepreneurship and Management (NIFTEM-K), Kundli, an Institute of National Importance under the Ministry of Food Processing Industries (MoFPI), signed 9 strategic MoUs with leading organizations, industry partners, and academic institutes during World Food India-2025.

23) Answer: A

Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, signed an MoU with Thermo Fisher Scientific (TFS) to accelerate biotechnology innovation and nurture a strong pipeline of startups.

The partnership will support over 500 biotech startups in the next three years through strategic advisory, technology access, mentorship, and investor connect.

Under Startup India’s Bharat Startup Grand Challenge (BSGC), TFS will launch the BioVerse Challenge and BioVerse Mentors Circle:

BioVerse Challenge: Identify and support 100 high-potential biotech startups with mentorship, subsidized R&D access, and investor connections.

BioVerse Mentors Circle: Train and guide 400 startups, expanding biotech skills and entrepreneurial expertise

24) Answer: B

Department of Posts (DoP), Ministry of Communications signed a Memorandum of Understanding (MoU) with the Indian Institute of Packaging (IIP), an autonomous body under the Ministry of Commerce and Industry, to promote sustainable packaging and enhance postal service efficiency.

The collaboration combines IIP’s 58 years of packaging expertise with DoP’s network of 1.65 lakh+ post offices, supporting the Government’s vision of environmental sustainability while strengthening the safety and security of India Post’s parcel services.

25) Answer: E

October 2 is observed as Gandhi Jayanti in India and globally as the International Day of Non-Violence, declared by the United Nations General Assembly (UNGA) in June 2007.

This post was last modified on October 4, 2025 6:30 pm

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Daily Current Affairs Quiz – 02nd & 03rd October 2025

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