DAILY GK 26-28 SEPT 2025

 DAILY GK 26-28 SEPT 2025 

 

1.       RBI ALLOWS STANDALONE TRADERS TO TRADE IN RUPEE IN NDF MARKET

·         Reserve Bank of India (RBI) has allowed Standalone Primary Dealers (SPD) to participate in rupee (RS) non-deliverable derivative contracts, to enhance market-making, forex risk management, and India’s currency market.

·         This move allows broader participation in the offshore rupee derivatives market, which was earlier restricted to Authorised Dealer Category-I (AD Cat-I) banks and International Financial Services Centre (IFSC) Banking Units.

·         Eligibility: With the latest amendment to the Master Direction (MD) on Risk Management and Inter-Bank Dealings, SPDs can now offer Non-Deliverable Derivative Contracts (NDDCs) to both residents and non-residents.

·         SPDs authorized as AD Cat–III are now eligible to trade in rupee NDDCs.

·         The Non-Deliverable Forward (NDF) market is an offshore market where forward contracts on currencies are settled without actual delivery of the currency.

 

2.       RBI ISSUES DIGITAL PAYMENT AUTHENTICATION DIRECTIONS

·         The Reserve Bank of India (RBI) has released ‘Reserve Bank of India (Authentication Mechanisms for Digital Payment Transactions) Directions, 2025’, establishing new guidelines to enhance the security of digital payment transactions across India.

·         These directions are issued under Sections 18 and 10(2) of the Payment and Settlement Systems (PSS) Act, 2007 (Act 51 of 2007).

·         These directions apply to all Payment System Providers and Participants (banks & non-banks) for domestic digital payment transactions and will come into force on April 1, 2026.

·         2-Factor (2-F): For digital payment transactions, other than card present transactions, at least one of the factors of authentication is dynamically created or proven.

·         Issuer Responsibility: An issuer shall ensure the robustness and integrity of the authentication mechanism before deployment.

·         Cross-Border (CB) Transaction: While the rules will not apply to all CB digital transactions, the RBI has directed card issuers to implement risk-based mechanisms for handling cross-border Card-Not-Present (CNP) transactions by October 1, 2026.

 

3.       GOODS AND SERVICES TAX APPELLATE TRIBUNAL (GSTAT) LAUNCHED

·         Union Minister Nirmala Sitharaman, Ministry of Finance (MoF), Ministry of Corporate Affairs (MCA), launched the Goods and Services Tax Appellate Tribunal (GSTAT) in New Delhi, , with an aim to provide a dedicated forum for resolving disputes related to Goods and Service Tax (GST) in a fair, efficient, and timely manner.

·         The event also witnessed the launch of GSTAT electronic (e)-Courts Portal.

·         GSTAT is a specialized appellate authority, constituted under Section 109 of the Central Goods and Services Tax (CGST) Act, 2017, to hear and dispose of appeals against orders of first appellate authorities.

·         Structure: The Tribunal will operate through a Principal Bench in New Delhi, and 31 State Benches, spanning across 45 locations in India.

·         Each bench will consist of 4 members, encompassing 2 judicial members (retired judges) and 2 technical members, including 1 from the Central and 1 from State government.

·         e-Courts Portal: It is a technology-enabled system, enabling taxpayers and practitioners to file appeals online, track case status, and attend virtual hearings.

 

4.       RBI REVISED NORMS FOR CLAIMS SETTLEMENT RELATED TO DECEASED BANK CUSTOMERS

·         The Reserve Bank of India (RBI) issued revised norms for claims settlement of deceased customers’ bank accounts and lockers within the time frame of 15 days and prescribed compensation to nominees for delays in the settlement.

·         These revised norms were issued under the ’RBI (Settlement of Claims in respect of Deceased Customers of Banks) Directions, 2025’.

·         Banks are required to implement the revised instructions at the earliest, and no later than March 31, 2026.

·         The revised instructions are applicable on the deposit accounts of a deceased customer, safe deposit locker and articles in safe custody by the deceased customer.

·         Claiming Process: RBI has clarified that a deposit account with nominee or where the account was opened with a survivorship clause, the outstanding balance will be paid to the nominee upon the death of the depositor.

·         Deposit Account without Nominee: In cases where deposit accounts are without nominee or survivorship clause, banks have been directed to settle the claims through a simplified procedure, where the aggregate amount payable is less than the threshold limit.

·         However, if the aggregate amount is above the threshold limit, the banks have the authority to ask for additional documents like a succession certificate or a legal heir certificate.

·         Threshold Limit: RBI has set the threshold limit for deposit accounts i.e. Rs 5 lakh for co-operative banks and Rs 15 lakh for any other bank.

·         Timelines: For deposit accounts, it is mandatory for banks to settle claims within a time period not exceeding 15 calendar days from the date of receipt of all the required documents associated with the claim.

·         In case of safe deposit locker or articles in safe custody, banks are required to claimants and set an inventory date within 15 days.

·         Penalty for Delay: In case of failure to comply with revised norms, the bank has been mandated to pay compensation in the form of interest at bank rate + 4% per annum for deposits.

·         While, for claims related to safe deposit locker or articles in safe custody, the bank has been mandated to pay compensation to claimant(s) at the rate of Rs 5,000 for per day delay.

 

5.       RBI IMPOSED RS 2.7 LAKH PENALTY ON MUTHOOT FINCORP 

·         The Reserve Bank of India (RBI) imposed monetary penalty of Rs 2.7 lakh on Muthoot FinCorp Limited,  India’s leading Non-Banking Financial Company (NBFC), fails to comply with certain norms on ‘Internal Ombudsman’.

·         RBI found that the company failed to establish a system of auto escalation of complaints that were partly or wholly rejected by its internal grievance redress mechanism to the internal Ombudsman.

 

6.       INTERNATIONAL RED PANDA DAY 2025 – SEPTEMBER 20

·         International Red Panda Day (IRPD) is observed every year across the world on the 3rd Saturday of September to raise awareness about the Red Panda, the first panda species and the only endangered panda.

·         The Red Panda (RP), also called the “first panda” or “original panda”, is a small mammal native to the eastern Himalayas (Nepal, India, Bhutan, Myanmar, southwestern China), living in temperate broadleaved forests at 2400–3900 metre(m) altitude.

·         The Red Panda is listed as ‘Endangered’ on the International Union for Conservation of Nature (IUCN) Red List.

·         It is the state animal of Sikkim and is protected under Schedule I of the Indian Wildlife (Protection) Act, 1972.

·         Red Panda Network (RPN).

·         Headquarters– Eugene, Oregon, USA (International); Kathmandu, Nepal (Asia).

 

 

7.       INTERNATIONAL DAY OF PEACE 2025 – SEPTEMBER 21

·         The United Nations (UN’s) International Day of Peace(IDP), observed every year across the globe on September 21, celebrates and promotes the principles of peace within and among all nations and peoples.

·         The IDP is symbolized by a dove carrying an olive branch.

·         2025 Theme: “Act Now for a Peaceful World”.

 

8.       WORLD ALZHEIMER’S DAY 2025 – SEPTEMBER 21

·         World Alzheimer’s Day(WAD) is observed globally every year on September 21 as a dedicated day to raise awareness about Alzheimer’s disease and other forms of dementia.

·         2025 Theme: “Ask about Dementia. Ask about Alzheimer’s.”

·         The World Health Organization (WHO) recognizes dementia as a public health priority that demands coordinated global action.

 

9.       WORLD ROSE DAY 2025 – SEPTEMBER 22

·         World Rose Day is observed in memory of Melinda Rose, a 12-year-old Canadian girl diagnosed with a rare blood cancer.

·         According to the ICMR-National Cancer Registry Programme (ICMR-NCRP), India recorded an estimated 1,496,972 new cancer cases in 2023, up from 1,461,427 cases in 2022.

·         Leading States : Uttar Pradesh(UP) tops the list with 215,931 cases, followed by Maharashtra with 124,584 cases, and West Bengal(WB) with 116,230 cases in 2023.

 

10.    WORLD RHINO DAY 2025- SEPTEMBER 22

·         World Rhino Day is observed globally on 22 September every year to raise awareness about rhinoceros species (Rhinocerotidae).

·         There are only 5 species of rhinos left: Two in Africa (black and white) and three in Asia (Indian, Javan, and Sumatran).

·         World Rhino Day was initiated in 2010 by the Worldwide Fund for Nature (WWF) – South Africa.

·         World Rhino Day was initiated through the efforts of women conservationists: Lisa Jane Campbell from Chishakwe Ranch, Zimbabwe, and Rhishja Cota-Larson from Saving Rhinos, USA.

·         India is currently home to over 80% of the world’s Greater One-Horned Rhino population.

 

11.    WORLD CAR-FREE DAY 2025- SEPTEMBER 22

·         World Car-Free Day is celebrated globally on 22nd September to encourage people to avoid using cars for a day.

·         The idea of reducing car use began during the 1973 oil crisis and gained momentum after the 1994 “Accessible Cities” conference in Toledo, Spain.

·         It was first adopted by Reykjavik (Iceland), La Rochelle (France), and Bath (United Kingdom, UK) , leading to the formation of the World Car Free Days Consortium in 1995.

·         In 1999, Europe hosted the first international Car-Free Day as a pilot project for the European Union’s “In Town Without My Car” campaign.

·         India, with the 3rd largest road network, has over 21 crore two-wheelers and 7 crore four-wheelers (~185 two-wheelers and 34 cars per 1,000 people).

 

12.    INTERNATIONAL DAY OF SIGN LANGUAGES 2025 – SEPTEMBER 23 

·         The United Nations(UN’s) International Day of Sign Languages (IDSL) is observed every year across the world on 23 September to promote and safeguard the linguistic identity and cultural diversity of deaf people and all sign language users worldwide.

·         2025 Theme: No Human Rights Without Sign Language Rights.

·         The Blue Ribbon represents the Deaf community’s long-standing efforts for equality and recognition of national sign languages.

 

13.    NATIONAL SERVICE SCHEME DAY 2025 – SEPTEMBER 24

·         NSS was formally launched on 24 September 1969 by then Union Minister Dr.VijayendraKasturi Ranga Varadaraja Rao, Ministry of Education(MoE), in 37 Universities across all states.

·         The year 1969 marked the birth centenary of Mahatma Gandhi (born in 1869)

·         The NSS is a Central Sector Scheme implemented by the Ministry of Youth Affairs & Sports (MYAS).

·         The three core components of NSS are student youth, teachers, and the community.

·         Motto : “Not Me But You”.

·         The NSS symbol is derived from the ‘Rath’ wheel of the Konark Sun Temple (The Black Pagoda) in Odisha.

·         The wheel has 8 bars representing the 24 hours of the day, reminding volunteers of their duty to serve the nation round the clock.

·         The Red and Blue colors in the NSS logo inspire volunteers to remain active and energetic in nation-building social activities.

 

14.    NATIONAL AYURVEDA DAY 2025 – SEPTEMBER 23

·         National Ayurveda Day 2025 is observed across India on September 23 to raise awareness about Ayurveda’s role in preventing and treating a wide range of health issues.

·         2025 Theme: “Ayurveda for People and Planet”.

·         In 2016, the Ministry of AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homeopathy) declared that Dhanvantari Jayanti would be observed as National Ayurveda Day to integrate Ayurveda into mainstream healthcare.

 

15.    ANTYODAYADIWAS 2025 – SEPTEMBER 25

·         Antyodaya Diwas is observed every year on 25 September across India to mark the birth anniversary of Pandit Deendayal Upadhyaya, former Bharatiya Jan Sangh (BJS) President and noted philosopher.

·         Antyodaya combines Antya (the poorest) and Udaya (rise), making Antyodaya Diwas a day to celebrate the upliftment of the poorest.

 

16.    WORLD MARITIME DAY 2025 – SEPTEMBER 25

·         The United Nations (UN) observes World Maritime Day (WMD) every year on the last Thursday of September to highlight the significance of maritime activities and acknowledge the maritime industry’s contribution to global development.

·         2025 Theme: Our Ocean, Our Obligation, Our Opportunity.

·         WMD was first observed on 17th March 1978, marking the entry into force of the IMO Convention in 1958.

·         The International Maritime Organization (IMO), a UN-specialized agency, leads the annual observance of WMD.

·         International Maritime Organization (IMO) Headquarters– London, UK.

·         Established– 1958.

 

17.    WORLD TOURISM DAY 2025 – SEPTEMBER 27

·         World Tourism Day (WTD) is observed globally on September 27 every year to raise awareness about tourism’s social, cultural, political, and economic significance.

·         Theme: “Tourism and Sustainable Transformation”.

·         Official host for WTD 2025: Melaka, Malaysia, where the 7th World Tourism Conference will explore sustainable investment, inclusive tourism, and technology’s role in transformation.

·         The United Nations World Tourism Organization (UNWTO) instituted WTD in 1980.

·         Under Vision (Viksit Bharat@2047): To become a USD 3 trillion tourism economy by 2047.

·         United Nations World Tourism Organization (UN WTO) is the UN agency responsible for promoting responsible, sustainable and universally accessible tourism.

·         Headquarters – Madrid, Spain.

 

18.    WORLD ENVIRONMENTAL HEALTH DAY 2025 – SEPTEMBER 26

·         2025 Theme: “Clean Air, Healthy People.”

·         In 2011, at the International Federation of Environmental Health (IFEH) meeting in Bali, Indonesia, it was officially declared that WEHD would be observed every year on 26 September.

·         Sendai Framework for Disaster Risk Reduction (SFDRR): Endorsed by the United Nations (UN), it focuses on preventing disasters and building resilience while integrating climate change mitigation and adaptation, highlighting environmental health in disaster risk management.

·         UN Decade on Ecosystem Restoration (UN-DER): Launched by UNEP (United Nations Environment Programme) and FAO (Food and Agriculture Organization) to restore degraded ecosystems, aiming to rehabilitate 68 million hectares of land and create 15 million jobs by 2030.

·         Paris Agreement: A global pact to cut greenhouse gas emissions and promote green policies for environmental protection and climate resilience.

·         WHO’s Green Manifesto: The World Health Organization (WHO) promotes reducing waste and plastics, eliminating smoke, and linking mental health with climate change actions.

·         Global Environment Facility (GEF): Involving 183 nations, GEF funds programs on biodiversity, climate change, and sustainable land use.

·         International Federation of Environmental Health (IFEH) Headquarters –  London.