Daily Current Affairs- 26th October 2025

Daily Current Affairs- 26th October 2025

EPF New Withdrawal Rules 2025

In the News: On 24 October 2025, the Employees’ Provident Fund Organisation (EPFO)’s Central Board of Trustees approved a major reform of withdrawal rules for the Employees’ Provident Fund Scheme, 1952, streamlining 13 prior withdrawal provisions into three broad categories to enhance ease of access for subscribers.

Key Points:

• Three-category structure: The 13 earlier separate withdrawal clauses have been merged into three overarching categories:
  • Essential Needs (illness, education, marriage)
  • Housing Needs (purchase, construction, EMI payment)
  • Special Circumstances (for example unemployment, calamities)
• Withdrawal from both employee + employer contributions: Members can now withdraw from the combined balance of their own contribution and the employer’s portion (plus interest) under eligible cases.
• Minimum-balance rule: At least 25 % of the total balance must remain in the account at all times when any partial withdrawal is made, to preserve a retirement cushion.
• Higher withdrawal ceiling: Members may withdraw up to 100 % of the eligible balance (i.e., up to 75 % in many cases, given the 25 % lock-in) under the new rules.
• Uniform service requirement: The minimum service requirement for partial withdrawals (except final settlement) has been reduced and standardised to 12 months of membership, replacing varying thresholds (e.g., 5 years for housing, 7 years for marriage) earlier.
• Increased frequency of withdrawals: For example, withdrawals for education can now be made up to 10 times, and for marriage up to 5 times, compared with a combined limit of 3 earlier.
• Final settlement / pension withdrawal timeline extended: The period of unemployment required before full PF settlement has been extended to 12 months, and pension withdrawal under the Employees’ Pension Scheme (EPS) to 36 months after unemployment, replacing earlier thresholds of 2 months.
• Special category withdrawal without reason: Under “Special Circumstances”, members can now withdraw without having to document specific reasons (such as natural calamity, lock-out etc) which previously hindered claims.

Madras High Court Declares Cryptocurrency as ‘Property’ Under Indian Law

In the News: On 26 October 2025, the Madras High Court (single-judge bench of Justice N. Anand Venkatesh) ruled in Rhutikumari v. Zanmai Labs Pvt Ltd that cryptocurrencies qualify as “property” under Indian law and are capable of being held in trust.

Key Points:

• The Court held that cryptocurrency, though not a physical object and not a legal currency, is nevertheless a “property” because it is capable of being enjoyed, possessed (in a beneficial form), transferred and stored. The judgement noted that cryptocurrencies fall within the definition of “virtual digital asset” under Section 2(47A) of the Income Tax Act, 1961 and are thus not treated as speculative transactions for tax purposes.
• The case arose when the petitioning investor claimed ownership of 3,532.30 XRP coins on the WazirX exchange platform, and sought an interim injunction to restrain the platform and its operators (Zanmai Labs Pvt Ltd) from tampering with or reallocating her holdings. The court granted protection.
• The Court rejected arguments that it lacked jurisdiction on the basis of a Singapore arbitration agreement, noting that the cause of action partially arose in Chennai via bank transfers and use of the platform within India.
• The ruling has broader implications — since cryptocurrencies are now legally property, they may be subject to ownership rights, trust arrangements, inheritance, asset-freezing orders, and other legal protections or claims.
• The Court emphasised that this recognition does not mean cryptocurrencies are legal tender, but rather that they are assets with property-characteristics and can be regulated, transferred, held in trust, or subject to contractual rights.

East Timor Becomes Association of Southeast Asian Nations’s 11th Member

In the News: On 26 October 2025, East Timor (also known as Timor-Leste) officially joined ASEAN as its 11th member, marking the first expansion of the bloc since the 1990s.

Key Points:

• East Timor’s accession to ASEAN culminated a long process—its membership application was originally submitted in 2011 and the bloc had granted it in-principle approval in 2022—highlighting a deliberate pathway of institutional alignment and regional integration.
• With a population of about 1.4 million and a GDP of roughly USD 2 billion, East Timor is the smallest and one of the poorest members of ASEAN; yet this membership gives it access to the bloc’s free-trade frameworks, investment networks and regional economic architecture.
• The formal accession was celebrated at the 47th ASEAN Summit in Kuala Lumpur, where East Timor’s flag was raised alongside other member states, symbolising both the fulfilment of a national ambition and ASEAN’s commitment to inclusivity and regional cohesion.
• East Timor’s entry strengthens ASEAN’s political-security footprint, given its strategic maritime location and history of conflict resolution design—its leaders assert this membership offers both a platform to contribute to regional dialogue and a shield for national stability.
• Despite the symbolic significance, challenges remain: East Timor must boost its institutional capacity, diversify its economy away from oil/gas dependency, and align with ASEAN’s economic competitiveness standards to fully leverage membership benefits.

PM Modi Declares 2026 as ASEAN-India Year of Maritime Cooperation

In the News: On 26 October 2025, during the Association of Southeast Asian Nations-India Summit (virtually held), Narendra Modi announced that the year 2026 will be celebrated as the “ASEAN-India Year of Maritime Cooperation”, signalling a major push to deepen maritime, blue-economy and connectivity linkages between India and the Southeast Asian bloc.

Key Points:

• The declaration reflects India’s intention to enhance cooperation with ASEAN in areas such as maritime security, humanitarian assistance & disaster relief (HADR), the blue economy and connectivity frameworks in the Indo-Pacific region.
• Prime Minister Modi emphasised that “the 21st century is our century, the century of India and ASEAN,” underscoring the strategic importance he attaches to the India-ASEAN partnership.
• The announcement is aligned with India’s Act East Policy and signals strong support for ASEAN centrality in the region, reinforcing the idea that India regards the Southeast Asian bloc as a core partner.
• Designating 2026 as a dedicated year of maritime cooperation means that during that year India and ASEAN will likely launch new initiatives, joint exercises, institutional linkages and policy dialogues focused on oceans, ports, shipping, and maritime-economic value chains.
• The move comes amid heightened emphasis on maritime domains globally — especially in context of rule-based order, Indo-Pacific strategic dynamics, and climate-resilient maritime economies — offering India an opportunity to deepen its engagement with Southeast Asia through sea-based linkages.

Russia Unveils Nuclear-Powered 9M730 Burevestnik Missile with ‘Unlimited Range’

In the News: On 26 October 2025, Russian President Vladimir Putin announced that the 9M730 Burevestnik — a nuclear-powered cruise missile — has been successfully tested and is moving into deployment, claiming it has an almost unlimited range and is invulnerable to existing missile-defence systems.

Key Points:

• The Burevestnik is a ground-launched, low-flying cruise missile that is both capable of carrying a nuclear warhead and powered by a miniaturised nuclear reactor, providing what Russia describes as effectively unlimited range.
• According to Russian military figures, in the latest test (on 21 October 2025) the missile reportedly travelled about 14,000 km (~8,700 miles) over around 15 hours, highlighting its long-range potential.
• Russian officials claim the missile’s design allows it to evade all present and future missile-defence systems by flying at low altitude, manoeuvring, and exploiting its long loiter time in the air.
• Despite these claims, independent experts caution the system has had a troubled test history, including multiple failed attempts and a 2019 explosion that killed several Russian engineers, raising safety and environmental concerns.
• From a strategic perspective, the Burevestnik represents a key component of Russia’s drive to develop novel strategic-weapons systems, signalling to the West a reinvigoration of nuclear-capable long-range strike capability beyond traditional intercontinental ballistic missiles (ICBMs).

Global Forest Resources Assessment 2025

In the News: On 21 October 2025, the Food and Agriculture Organization of the United Nations (FAO) released the results of its latest global forest-resource survey, the Global Forest Resources Assessment 2025 (FRA 2025), providing an updated global picture of forest area, management and change trends.

Key Points

• The world’s forests cover approximately 4.14 billion hectares, which is about one-third of the planet’s land area.
• The annual net loss of forest area has declined, with the rate falling from around 10.7 million hectares per year in the 1990s to about 4.12 million hectares in the 2015-2025 period.
• More than half of global forest area is now covered by long-term management plans, and about 20 % of forest area falls within legally established protected areas.
• FRA 2025 examined over 60 forest-related variables across 236 countries and territories, using a combination of national reports and remote-sensing surveys.
• The report plays a key role in monitoring global forest-related commitments, notably under SDG 15.1.1 (forest area as proportion of total land) and SDG 15.2.1 (progress towards sustainable forest management).
• Although deforestation has slowed, forests remain under significant pressure from degradation, land-use change, fires and inadequate restoration, underscoring that the challenge is far from over.
• India now ranks 9th globally in terms of total forest area, having improved its ranking from 10th in the previous assessment.
• India holds the 3rd position worldwide in net annual forest-area gain, reflecting strong afforestation and restoration efforts.
• Indian forests remove about 150 million tonnes of CO₂ per year, placing India among the top five global carbon sinks.

Odisha’s Preetismita Bhoi Wins Gold and Sets World Record at Asian Youth Games 2025

In the News: On 26 October 2025, Preetismita Bhoi from Dhenkanal district in Odisha made history by winning the gold medal in the 44 kg girls’ weightlifting category at the Asian Youth Games 2025 held in Bahrain, while also setting a new world youth record in the clean and jerk event. Her achievement has brought immense pride to India and highlighted Odisha’s emergence as a hub for young sporting talent.

Key Points:

• Preetismita Bhoi lifted a total of 158 kg—with 66 kg in snatch and 92 kg in clean and jerk—breaking the previous world youth record in her weight category and securing India’s first gold medal in weightlifting at the Games.
• Her 92 kg clean and jerk lift established a new youth world record, surpassing the earlier benchmark by 1 kg and demonstrating exceptional strength and technique for her age.
• At just 16 years old, she trains at the Weightlifting High Performance Centre, Kalinga Stadium, Bhubaneswar, under the Odisha government’s Target Olympic Podium Scheme, reflecting the success of state-led sports initiatives.
• Her victory marks a significant milestone for India’s women’s weightlifting, showcasing the country’s rising dominance in international youth competitions and the effectiveness of the grassroots sports ecosystem in Odisha.
• This win also adds to India’s growing medal tally at the Asian Youth Games 2025, and Preetismita’s record has been officially recognized by the International Weightlifting Federation (IWF).
• Following her victory, the Odisha Chief Minister and the Sports Authority of India congratulated her for inspiring young athletes and proving that India’s youth can compete at the highest global levels.