Daily Current Affairs- 3rd October 2025

Daily Current Affairs- 3rd October 2025

RBI Sets Up Payments Regulatory Board

In the News: The Reserve Bank of India (RBI) notified the Payments Regulatory Board Regulations, 2025, thereby creating a new Payments Regulatory Board (PRB) to replace the earlier BPSS structure and provide a robust statutory framework for oversight of India’s payment and settlement systems.

Key Points:

• Establishment & Legal Basis: The PRB is constituted under the Payment and Settlement Systems Act, 2007, with its enabling rules laid out in the Payments Regulatory Board Regulations, 2025, effective from May 20, 2025.
• Replacement of BPSS: The PRB replaces the earlier Board for Regulation and Supervision of Payment and Settlement Systems (BPSS), which functioned as a committee under the RBI’s Central Board.
• Composition & Governance: The PRB will have six members, chaired by the RBI Governor. Other members include the Deputy Governor overseeing payment systems, one RBI official nominated by its Central Board, and three nominees from the central government.
• Voting & Decision-making: Each member gets one vote, and decisions are by majority. In event of a tie, the Chairperson (or Deputy Governor if Chair is absent) has a casting vote.
• Meetings & Quorum: The PRB is obligated to convene at least twice a year, and a quorum must include the Chairperson or designated Deputy Governor.
• Delegation & Invitees: The PRB may delegate powers to its Chairperson, sub-committees, or RBI officers. It can also invite experts (e.g. in payments, IT, law) as permanent or ad hoc invitees. The Principal Legal Adviser of RBI is a permanent invitee.
• Mandate & Oversight Role: The PRB is responsible for regulation, licensing, supervision, and oversight of the entire payments ecosystem in India—covering both traditional and digital systems, domestic and cross-border flows.
• Autonomy vs Government Role: For the first time, government nominees will sit on the payments regulator, giving the government formal representation in decision processes. Some observers caution this could affect regulatory independence.

11th World Green Economy Summit Begins in Dubai

In the News: The 11th World Green Economy Summit (WGES 2025) is scheduled for October 1–2, 2025 in Dubai, under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum. The summit, organized by the Dubai Supreme Council of Energy, DEWA (Dubai Electricity & Water Authority) and the World Green Economy Organization (WGEO), will be held at the Dubai World Trade Centre under the theme “Innovating for Impact: Accelerating the Future of the Green Economy.”

Key Points:

• Theme & Focus: WGES 2025 will emphasize innovation and impact to accelerate green economy transitions. It will spotlight technology, climate equity, clean energy, climate resilience, finance, policy, and youth in climate action as core pillars.  Role of Technology & AI: A key thrust will be on artificial intelligence (AI), Internet of Things (IoT), predictive analytics, and smart systems to optimize renewable energy integration, monitor emissions, manage climate risks, and improve efficiency across sectors.
• Climate Policy & Investment: The summit will examine how climate policies, regulatory frameworks, and investment flows can advance sustainable transformation. Green finance is set to be central, addressing gaps in funding for clean technologies and risk mitigation.
• Sponsors & Partnerships: The 11th edition has drawn support from 16 local, regional, and international sponsors, underscoring global interest in climate innovation and sustainability efforts.
• Legacy & Leadership: Over its 11-year history, WGES has evolved into a major global platform shaping climate discourse, promoting public-private partnerships, and translating high-level commitments into actionable strategies.
• Global Context & Timing: WGES 2025 aims to build on momentum from COP28 (hosted in the UAE) and realize the UAE Consensus via implementation of commitments toward the Paris Agreement through innovation, collaboration, and inclusive green transition.

India Re-Elected to ICAO Council’s Part II Category

In the News: During the 42nd Assembly of the International Civil Aviation Organization (ICAO) in Montreal, India was re-elected to Part II of the ICAO Council for the 2025–2028 term. India secured more votes in this election than it had in 2022, signaling stronger confidence from ICAO member states.

Key Points:

• Re-election to Part II: India’s re-election was under Part II of the ICAO Council, which comprises states that contribute significantly to global civil aviation infrastructure such as air navigation facilities and services.
• Stronger mandate: In this election, India received more votes than it did in the 2022 cycle, suggesting enhanced diplomatic reach and recognition of its role in international aviation.
• Background & structure: The ICAO Council is made up of 36 member states elected by the ICAO Assembly (which includes all 193 signatory states of the Chicago Convention). The Council is divided into three parts: Part I (states of chief importance in air transport), Part II (those making substantial contributions to air navigation infrastructure), and Part III (to ensure geographic representation).
• India’s diplomatic push: Ahead of the ICAO election, India’s Ministry of Civil Aviation hosted receptions and engaged ambassadors and high commissioners in New Delhi, while the Ministry of External Affairs and India’s ICAO representative actively canvassed support among member states.
• Commitments for 2025–2028: India reaffirmed its focus on enhancing aviation safety, promoting equitable air connectivity, facilitating technology and innovation in aviation, and supporting ICAO’s “No Country Left Behind” initiative which helps developing states strengthen their aviation infrastructure and regulatory capabilities.

India–EFTA TEPA Enters into Force with $100 B Investment Pledge

In the News: The India–EFTA Trade and Economic Partnership Agreement (TEPA) came into force after years of negotiation. With this, the four EFTA nations (Switzerland, Norway, Iceland, and Liechtenstein) have committed a USD 100 billion investment pledge over 15 years into India, along with plans to facilitate the creation of 1 million direct jobs.

Key Points:

• Entry into Force & Ceremony: TEPA was signed on March 10, 2024, following decades of intermittent talks. Its commencement was marked by a Prosperity Summit in New Delhi, attended by Indian and EFTA dignitaries and business leaders, signaling the pact’s importance in bilateral relations.
• Investment & Job Commitment: The agreement is unprecedented for India in including a firm investment objective from the partner side. The EFTA states aim to commit USD 100 billion in investments into India over the next 15 years, and the pact anticipates creation of 1 million direct jobs arising from these investments.
• Balanced Phasing: The investment commitment is structured: USD 50 billion to be mobilised over the first 10 years, and the remaining USD 50 billion in the succeeding 5 years. Notably, foreign portfolio investments (FPIs) are excluded — the focus is on long-term, productive investments.
• Tariff Liberalization: Under TEPA, the EFTA bloc grants concessions on 92.2 % of its tariff lines, which covers nearly all major Indian exports to them. India, in turn, offers concessions on 82.7 % of its tariff lines, covering about 95.3 % of EFTA exports to India. Some sectors (like gold, sensitive agriculture, pharma) are protected or excluded from full liberalization.
• Services & Mobility: The agreement covers commitments in services across many sub-sectors, including provisions for mutual recognition of professional qualifications (e.g. nursing, architecture, accountancy). It enables flexibility in modes of delivery (digital, commercial presence) and movement of professionals.
• Facilitation Mechanisms: To oversee implementation, TEPA establishes investment facilitation mechanisms and an India-EFTA Desk to act as a single-window channel for investors, provide matchmaking, and monitor progress.
• Strategic Implications: TEPA represents India’s first comprehensive agreement with a European bloc, enhancing access to high-income markets, strengthening supply chain integration, promoting technology and clean energy cooperation, and signaling India’s readiness to attract long-term foreign capital.

Mutual Legal Assistance Treaty (MLAT)

In the News: The Indian government invoked the Mutual Legal Assistance Treaty (MLAT) with Singapore in the investigation of singer Zubeen Garg’s death, illustrating how MLATs operate in high-profile cross-border criminal cases.

Key Points:

• Definition & Purpose: A Mutual Legal Assistance Treaty (MLAT) is an agreement between two or more countries to cooperate in enforcing criminal laws by sharing evidence, providing legal support, serving judicial documents, obtaining testimony, and facilitating investigations that cross national borders.
• Scope of Assistance: Under MLATs, a requested state may assist by executing searches, seizures, serving summons, transferring persons for testimony, gathering documents and records, identifying or tracing proceeds of crime, or other forms of legal cooperation as permitted by domestic law.
• Central Authority & Nodal Ministries in India: In India, the Ministry of Home Affairs (MHA), through its IS-II division, acts as the central authority for MLAT requests in criminal matters, receiving and processing requests for assistance. For civil and commercial matters, the Ministry of Law & Justice handles treaty arrangements.
• Legal Framework & Domestic Law: India’s guidelines on MLATs align with Section 105 of the Criminal Procedure Code (CrPC), which provides for reciprocal arrangements with foreign governments to serve judicial documents. India has signed MLATs with over 39–40 countries in criminal matters.
• Bilateral MLAT Example – India & USA: The India–United States MLAT, signed in October 2001, enables both countries to “provide the widest measure of mutual assistance” in criminal investigation, prosecution, prevention and suppression of offences, covering testimony, document sharing, searches, seizures, and seizure or forfeiture of assets.
• Challenges, Limitations & Reforms: MLATs often face delays, backlogs, and procedural rigidity, particularly when confronted with digital evidence or large volumes of data. There is growing discussion about moving beyond MLATs toward direct access or streamlined data-sharing frameworks, especially in cybercrime or urgent cases.

India Withdraws Approval for 11 Animal-Based Biostimulants Over Religious Concerns

In the News: The Union Agriculture Ministry withdrew approval for 11 bio-stimulants derived from animal sources citing religious and dietary concerns raised by Hindu and Jain communities. These bio-stimulants, which had been cleared for use on crops such as paddy, tomato, chilli, cotton, cucumber, soybean, grapes and green gram, were removed from Schedule VI of the Fertiliser (Control) Order, 1985.

Key Points:

• Nature of the Decision: The Ministry omitted the 11 animal-based protein hydrolysate bio-stimulants from the approved list under Schedule VI of the FCO, effectively revoking their market authorization until further review.
• Rationale & Stakeholder Concerns: The move responds to complaints from Hindu and Jain individuals about ethical, religious, and dietary incompatibility with use of substances derived from bovine hide, chicken feathers, pig tissues, fish scales, and other animal materials.
• Scientific & Regulatory Basis: These bio-stimulants belong to protein hydrolysates  mixtures of amino acids and peptides derived by breaking down proteins. While some are plant-based, these 11 used animal proteins.
• Pre-harvest Interval Data Requirement: The Indian Council of Agricultural Research (ICAR) has indicated that approval is “withheld” until adequate pre-harvest interval data (time between spraying and harvesting) is established for their use as foliar sprays, in consideration of safety and residue issues.
• Regulatory Context: Earlier in 2025, these bio-stimulants were added to Schedule VI under the FCO after technical clearance. The bio-stimulants sector is now regulated (registration, efficacy, safety) under amended FCO rules.
• Market Impact & Industry Reaction: The Indian bio-stimulants market — valued at about USD 355 million in 2024 and projected to grow sharply — relies on innovation. Major firms like Coromandel, Syngenta, Godrej Agrovet may need to restructure formulations or pivot to plant-based alternatives.
• Temporary Suspension & Review: The withdrawal is not permanent; the 11 bio-stimulants are suspended pending further scientific validation and ethical/ regulatory reconciliation.

India Clinches One‑Two in Men’s Javelin F44 at World Para Athletics

In the News: At the World Para Athletics Championships held in New Delhi, India achieved a one-two finish in the Men’s Javelin F44 event with Sandip Sanjay Sargar winning gold and Sandeep Chaudhary taking silver. This momentous result added to India’s growing medal tally and highlighted the strength of Indian para-athletics on the global stage.

Key Points:

• Gold and Silver Triumph: Sandip Sanjay Sargar clinched the gold with a throw of 62.82 m in his fifth attempt, while Sandeep Chaudhary earned silver with a best throw of 62.67 m, making
• Competition & Rivals: The bronze medal went to Brazil’s Edenilson (≈ 61.94 m). In the same event, Indian athletes Pushpendra Singh and Mahendra Gurjar threw 61.31 m (4th place) and 57.84 m (7th place) respectively.
• Medal Count Impact: This finish helped push India’s overall medal count higher in the championships. On that day, India had already secured a number of podium finishes in para-athletics, and this result further underscored the Indian team’s depth in field events.
• Records & Bests: Sargar’s personal best and Chaudhary’s season’s best throws were central to their podium success. Their performance also stands out because they managed to surpass many of their competitors under high pressure in a major global event.

Abhishek Sharma Breaks This Record in ICC T20I Batter Rankings

In the News: Indian cricketer Abhishek Sharma has made history by achieving the highest ever rating in the ICC Men’s T20I Batter Rankings, reaching 931 points, thereby breaking a five-year-old record.

Key Points:

• Record Rating: Sharma’s rating of 931 surpasses the previous highest of 919, which was held by England’s Dawid Malan.
• Basis & Form: His rise to the top spot came off a stellar showing in the Asia Cup 2025, where he scored 314 runs across seven innings at a strike rate of 200.
• Historical Significance: Sharma is now the fourth Indian to become No. 1 in T20I batting rankings, joining Gautam Gambhir, Virat Kohli, and Suryakumar Yadav.
• Changing Landscape: Alongside Sharma’s milestone, Pakistan’s Saim Ayub overtook Hardik Pandya to become the world’s No. 1 T20I all-rounder, highlighting shifting dynamics in the format.
• Enduring Record: The previous high of 919 had stood for nearly five years—Sharma’s feat ends that run and sets a new benchmark in T20I batting rankings.

India’s First Dugong Conservation Reserve Gets IUCN Recognition

In the News: At the IUCN World Conservation Congress 2025 held in Abu Dhabi, the International Union for Conservation of Nature (IUCN) formally recognized India’s first Dugong Conservation Reserve, located in Palk Bay off Tamil Nadu’s coast. This recognition followed overwhelming support for a motion adopted by the IUCN, seen as an important step in placing India’s dugong conservation efforts on the global map.

Key Points:

• Creation of the Reserve: The Dugong Conservation Reserve in northern Palk Bay was officially notified on September 21, 2022 by the Government of Tamil Nadu under G.O. (Ms) No. 165, Environment, Climate Change & Forests (FR.5). The reserve spans approximately 448.34 sq km of coastal waters that include vital seagrass meadows, which serve as feeding grounds for dugongs.  
• Conservation Context & Status of Dugongs: Dugongs (Dugong dugon) are listed as Vulnerable on the IUCN Red List. In India, their numbers have declined significantly, with estimates suggesting around 200–250 individuals remain; many of them inhabit Palk Bay and the Gulf of Mannar region. The establishment of the reserve aims to conserve this remnant population and their habitat.
• Habitat & Ecological Importance: The reserve area includes over 12,250 hectares of seagrass meadows that are critical feeding grounds for dugongs and support a wide variety of marine fauna. Protecting these seagrass beds benefits marine biodiversity, supports fisheries, and helps in carbon sequestration.
• IUCN Recognition & Support: The recognition was formalized through a motion at the 2025 IUCN Congress, which passed with substantial support—98 % of member governments and 94.8 % of NGOs, research institutions, and organisations voted in favour. The motion not only recognized the reserve, but also urged IUCN members to collaborate with India in long-term monitoring, capacity building, and knowledge exchange to replicate this model across dugong habitats.

Pandit Chhannulal Mishra Passes Away at 89

In the News: Pandit Chhannulal Mishra, the eminent Hindustani classical vocalist and exponent of the Banaras gharana, passed away at the age of 89 at his daughter’s residence in Mirzapur. The government has announced that his last rites will be accorded state honours.

Key Points:

• Birth & Background: Born on 3 August 1936 in Hariharpur village, Azamgarh district (then United Provinces), Mishra became one of the foremost exponents of Hindustani classical music. He was closely associated with the Banaras gharana, especially in genres like Khayal and Purab Ang / Thumri.
• Musical Journey & Style: From early tutelage under his father and then under Ustad Abdul Ghani Khan and later guidance of Thakur Jaidev Singh, Mishra developed a unique style that blended Kirana bādhat with nuances of Patiala and Purab traditions. His repertoire spanned Khayal, Thumri, Dadra, Kajri, Chaiti, Bhajans, etc.
• Recognition & Awards: Over his long career, he received many honours including the Shiromani Award (Sur Singar Sansad), Uttar Pradesh Sangeet Natak Akademi Award, Naushad Award (Uttar Pradesh), Yash Bharti (Uttar Pradesh), Sangeet Natak Akademi Fellowship, Padma Bhushan (2010) and Padma Vibhushan (recent award) among others.
• Circumstances of Demise: He passed away at 4:15 a.m. on October 2, 2025, at his daughter Namrata’s residence in Mirzapur. The cause is reported to be a prolonged illness.

G G Parikh Passes Away at 100: The Last of India’s Gandhian Socialists

In the News: Dr. G. G. Parikh, one of India’s last practicing Gandhian socialists and a veteran freedom fighter, passed away in Mumbai at the age of 100 (or 101, based on some reports). His body was donated to JJ Hospital in keeping with his life-long commitment to self-service.

Key Points:

• Early Life & Freedom Struggle: Dr. Parikh was born on December 30, 1924, in Gujarat (Surendra Nagar/Wadhwan camp) and became active in politics as a student. He joined the Quit India Movement in 1942, was imprisoned for ten months, and later participated in various Gandhian and socialist activities.
• Ideological Journey & Public Work: Although influenced by Marx in his youth, Parikh embraced Gandhian philosophy, believing that Gandhi’s ideals were more suited to India. He lived simply (wearing khadi, practising self-reliance) and merged socialism with grassroots service. He helped found the socialist wing of the Congress Party, engaged in consumer cooperatives and workers’ rights, and consistently remained involved in social causes.
• Yusuf Meherally Centre & Rural Outreach: In 1962, Parikh and his wife Mangalaben established the Yusuf Meherally Centre in Taara village, Panvel (Raigad), Maharashtra. The centre became a hub for village industries (Gramodyog), education, health, sustainable farming, and community empowerment—exemplifying his belief in Gandhi’s rural regeneration.
• Political & Activist Roles: He remained active through India’s political tumult—participating in trade union movements via Hind Mazdoor Sabha, opposing authoritarianism, resisting the Emergency (during which he was jailed again), declining electoral politics to preserve his moral autonomy, and leading public marches even into advanced age.