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Daily Current Affairs: 31 August & 1 September 2025

Current affairs of 31 August & 1 September 2025: SEEI 2024: State Energy Efficiency Index Results; SCO Summit 2025 in Tianjin: Modi-Xi Meet and SCO Basics; PM Viksit Bharat Rozgar Yojana: ₹1 lakh crore jobs scheme, and 12 more topics. Key facts for every exam, with a quiz.

Take the quiz (15 questions)September 2025

In this issue: 15 topics

Government Schemes

PM Viksit Bharat Rozgar Yojana: ₹1 lakh crore jobs scheme
Aadi Vaani: AI Translator for Tribal Languages Launched

Banking & Finance

Rural Bank Credit and Deposit Growth Lags, RBI Data Shows
Fino Payments Bank SFB Conversion: RBI Nod Likely by March 2026
Bandhan Bank Fined ₹44.70 Lakh by RBI
SEBI CSCRF Clarifications: Tiered Cyber Rules for Intermediaries
ULIP Taxation Clarified: Capital Gains Rules Explained
FPI Equity Outflow of ₹34,993 Crore in August 2025

International Affairs

SCO Summit 2025 Tianjin: Members, Aims and India’s Role
IEEPA Tariffs: US Federal Circuit Rules Trump Levies Illegal

Agriculture & Rural

Krishi Nivesh Portal Gets PPP Schemes Under Version 2.0
Kashmir Mono-Floral Lavender Honey by CSIR-IIIM

Environment & Ecology

Coal Power: China and India Dominate New Proposals in 2025
Dioscorea balakrishnanii: New Edible Yam Found in Wayanad

Reports & Indexes

SEEI 2024: State Energy Efficiency Index Results

Government Schemes

1. PM Viksit Bharat Rozgar Yojana: ₹1 lakh crore jobs scheme

PMVBRY was announced by PM Modi on 15 August 2025 from the Red Fort.
Outlay is nearly ₹1 lakh crore, aiming at 3.5 crore jobs in two years.
Employees get up to ₹15,000 in two instalments; employers get up to ₹3,000 monthly per hire.

Full notes and 3 MCQs ›

Government Schemes

2. Aadi Vaani: AI Translator for Tribal Languages Launched

Aadi Vaani is the Tribal Affairs Ministry's AI translator for Adivasi languages, in beta.
Phase-1 languages: Bhil, Santal, Gond, Munda, Kui and Garo.
Adi Karmayogi, begun 19 August 2025, targets 20 lakh change leaders.

Full notes and 3 MCQs ›

Banking & Finance

3. Rural Bank Credit and Deposit Growth Lags, RBI Data Shows

Rural bank loans grew 30 times during 2000-2025, against an all-India average of 41 times.
Rural deposits grew 20 times versus 28 times overall; metros led at 36 times.
Credit-deposit ratio climbed from 56% in 2000 to 80% in 2025.

Full notes and 3 MCQs ›

Banking & Finance

4. Fino Payments Bank SFB Conversion: RBI Nod Likely by March 2026

RBI is likely to approve Fino Payments Bank's conversion into a Small Finance Bank by March 2026.
SFBs must lend 75% of ANBC to priority sectors; commercial banks, 40%.
An SFB needs ₹200 crore paid-up capital at licensing.

Full notes and 3 MCQs ›

Banking & Finance

5. Bandhan Bank Fined ₹44.70 Lakh by RBI

RBI fined Bandhan Bank ₹44.70 lakh after inspection based on its 31 March 2024 position.
Lapses: commission-linked staff pay and manual backend data edits without audit logs.
Penalty under Section 47A(1)(c) with Section 46(4), Banking Regulation Act, 1949.

Full notes and 3 MCQs ›

Banking & Finance

6. SEBI CSCRF Clarifications: Tiered Cyber Rules for Intermediaries

SEBI clarified CSCRF with graded, size-based compliance for market intermediaries.
Top brokers, clearing members and depositories face strict controls and timelines.
Small brokers, portfolio managers and RIAs get simpler norms and extended timelines.

Full notes and 3 MCQs ›

7. ULIP Taxation Clarified: Capital Gains Rules Explained

ULIPs failing exemption conditions are capital assets; gains attract capital gains tax, even for pre-February 2021 policies.
Section 10(10D) exemption needs annual premium up to ₹2.5 lakh and premium within 10% of sum assured.
ULIPs mix life cover with equity, debt or hybrid investment and carry a 5-year lock-in.

Full notes and 3 MCQs ›

8. FPI Equity Outflow of ₹34,993 Crore in August 2025

FPIs took ₹34,993 crore (about $4 billion) out of Indian equities in August 2025, the biggest exit in six months.
Triggers: US tariffs of up to 50%, rich valuations and weak Q1FY26 earnings in some sectors.
FPI money is short-term and reversible; FDI is long-term and brings control.

Full notes and 3 MCQs ›

International Affairs

International Relations

9. SCO Summit 2025 Tianjin: Members, Aims and India’s Role

PM Modi met Xi Jinping on the sidelines of the SCO Summit in Tianjin.
SCO was founded in 2001, has 8 permanent members and is headquartered in Beijing.
The summit theme was 'Upholding the Shanghai Spirit: SCO on the Move'.

Full notes and 3 MCQs ›

10. IEEPA Tariffs: US Federal Circuit Rules Trump Levies Illegal

The US Court of Appeals for the Federal Circuit ruled 7-4 on 29 August 2025 that several Trump tariff announcements were illegal.
The court held that IEEPA, enacted in 1977, does not give the President broad authority to impose tariffs.
The decision stays on hold until October while the matter goes to the US Supreme Court.
Tariffs under Sections 232, 201 and 301 are not affected by the ruling.

Full notes and 3 MCQs ›

Agriculture & Rural

11. Krishi Nivesh Portal Gets PPP Schemes Under Version 2.0

Krishi Nivesh portal began in September 2024 under the Agriculture Ministry.
PPP schemes are being added to bring in private capital.
Post-harvest loss is about 6% a year, roughly ₹1.2 trillion.

Full notes and 3 MCQs ›

Agriculture & Rural Development

12. Kashmir Mono-Floral Lavender Honey by CSIR-IIIM

CSIR-IIIM, Pulwama, produced India's first mono-floral lavender honey.
Mono-floral honey has at least 80% of its nectar from one flower type.
Lavender covers 750 hectares in J&K, with over 3,000 families involved.

Full notes and 3 MCQs ›

Environment & Ecology

13. Coal Power: China and India Dominate New Proposals in 2025

China and India accounted for nearly 88% of new coal power capacity proposed worldwide in H1 2025.
China added 21 GW of coal power in six months, its largest rise since 2016.
India commissioned 5.1 GW of coal plants and has 92 GW of proposals pending.
India's renewable capacity passed 220 GW by March 2025; Ireland shut its last coal plant in June 2025.

Full notes and 3 MCQs ›

Environment & Ecology

14. Dioscorea balakrishnanii: New Edible Yam Found in Wayanad

Dioscorea balakrishnanii is a newly described wild yam from the evergreen shola forests of Wayanad, Kerala, in the Western Ghats.
Kattunayikar tribal communities call it 'chola kizhangu' and have traditionally eaten it.
Formal scientific description followed about ten years of observation.
Its low glycemic index and good flavour point to potential as a cultivated crop.
The species honours Dr V. Balakrishnan, a Deputy Superintendent of Police and environmentalist.

Full notes and 3 MCQs ›

Reports & Indexes

Environment & Ecology

15. SEEI 2024: State Energy Efficiency Index Results

BEE and AEEE released SEEI 2024 on 29 August 2025, the sixth edition since 2018.
36 States/UTs were scored on 66 indicators across 7 sectors.
Category toppers: Maharashtra, Andhra Pradesh, Assam and Tripura.

Full notes and 3 MCQs ›

Test yourself

15 questions from the news of 31 August & 1 September 2025, with answers and explanations.