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Daily Current Affairs: 4 October 2025

Current affairs of 4 October 2025: Cyclone Shakthi: Arabian Sea Storm Off Gujarat Coast, Oct 2025; Snow Leopards: Himachal Records 83 in 2025 Survey; External Commercial Borrowings: ECB Rules and Tracks, and 12 more topics. Key facts for every exam, with a quiz.

Take the quiz (15 questions)October 2025

In this issue: 15 topics

Banking & Finance

BSBD Accounts: RBI Draft Rules on No-Frills Savings Accounts
Scale-Based Regulation for NBFCs: Upper Layer Listing Order
RBI Draft ECB Framework: Net-Worth Limits, No Cost Cap
Multi-Asset Allocation Funds: Features and SEBI Rule
Kiwi’s Interest-Backed EMI on UPI: Cashback on Interest
RBI Draft Rules on Related Party Lending for Banks and NBFCs
FIDC Named Self-Regulatory Organisation for NBFCs by RBI
WAPCOS Bank Loan Rating Cut from A to BBB by India Ratings

Economy

External Commercial Borrowings: Tracks, Limits and Rules
NITI Aayog Presumptive Tax Plan for Foreign Firms’ PEs

Agriculture & Rural

Wheat MSP 2025-26 Fixed at Rs 2,585 per Quintal
Kapas Kisan App: CCI Digitises Cotton Procurement for Farmers

Environment & Ecology

Cyclone Shakthi: Arabian Sea Storm Off Gujarat Coast, Oct 2025
Snow Leopards: Himachal Records 83 in 2025 Survey
Cyclone Shakti: First Arabian Sea Cyclone of the Season

Banking & Finance

Banking & Finance

1. BSBD Accounts: RBI Draft Rules on No-Frills Savings Accounts

The RBI issued a draft circular updating guidelines on Basic Savings Bank Deposit (BSBD) accounts, which include PMJDY accounts.
BSBD accounts need no minimum balance; deposits are unlimited and digital transactions carry no cap or charge.
A customer may hold only one BSBD account; any other savings account must be closed within 30 days.

Full notes and 3 MCQs ›

2. Scale-Based Regulation for NBFCs: Upper Layer Listing Order

RBI told 15 Upper Layer NBFCs, including Tata Sons, to list by 30 September 2025.
Scale-Based Regulation began in October 2021 and has four layers.
Upper Layer NBFCs must list within three years of classification.

Full notes and 3 MCQs ›

3. RBI Draft ECB Framework: Net-Worth Limits, No Cost Cap

RBI's draft ECB framework allows borrowing up to the higher of $1 billion or 300% of net worth.
The 450 bps all-in-cost ceiling would be removed in favour of market pricing.
End-use rules and minimum average maturity would be eased; ECB reporting simplified.

Full notes and 3 MCQs ›

Banking & Finance

4. Multi-Asset Allocation Funds: Features and SEBI Rule

Multi-asset allocation funds (MAAFs) are hybrid mutual funds holding at least three asset classes.
SEBI requires a minimum 10% in each of at least three classes at all times.
Equity above 35% means taxation as a hybrid-debt fund under post-April 2023 norms.

Full notes and 3 MCQs ›

Banking & Finance

5. Kiwi’s Interest-Backed EMI on UPI: Cashback on Interest

Fintech firm Kiwi launched India's first interest-backed EMI option on UPI payments.
Users can convert high-value UPI transactions into instalments.
They earn cashback equal to the interest they pay.
The move supports wider credit access through real-time payment systems.

Full notes and 3 MCQs ›

Banking & Finance

6. RBI Draft Rules on Related Party Lending for Banks and NBFCs

RBI's draft circular widens related-party lending rules for commercial banks and NBFCs, effective 1 April 2026.
Related parties now include promoters, KMPs, shareholders above 5% equity, and influential entities with their relatives.
Board approval is needed above ₹50 crore, ₹10 crore or ₹5 crore, depending on bank size.

Full notes and 3 MCQs ›

Banking & Finance

7. FIDC Named Self-Regulatory Organisation for NBFCs by RBI

RBI recognised the Finance Industry Development Council (FIDC) as the SRO for NBFCs.
FIDC, set up in 2004, represents asset financing, loan and investment NBFCs.
AMFI and FIMMDA are other SRO examples.

Full notes and 3 MCQs ›

8. WAPCOS Bank Loan Rating Cut from A to BBB by India Ratings

India Ratings downgraded the bank loan facilities of WAPCOS from A to BBB.
WAPCOS is a central public sector enterprise.
Cited concerns were an elongated working capital cycle and likely use of debt to meet temporary cash-flow mismatches.

Full notes and 3 MCQs ›

Economy

9. External Commercial Borrowings: Tracks, Limits and Rules

ECBs are foreign loans raised by Indian companies, governed by RBI under FEMA, 1999.
RBI's framework has three tracks: medium-term foreign currency, long-term foreign currency and rupee-denominated.
The general limit is USD 750 million a financial year; ECB-2 return is filed monthly.

Full notes and 3 MCQs ›

10. NITI Aayog Presumptive Tax Plan for Foreign Firms’ PEs

NITI Aayog proposed an optional presumptive tax regime for permanent establishments of foreign firms.
Tax would be a pre-defined share of gross revenue, avoiding audit and profit attribution.
Opted-in firms get safe harbour on PE existence.

Full notes and 3 MCQs ›

Agriculture & Rural

11. Wheat MSP 2025-26 Fixed at Rs 2,585 per Quintal

The Centre fixed wheat MSP for 2025-26 at Rs 2,585 per quintal.
The increase is Rs 160 per quintal, above the Rs 150 hikes of the two previous years.
The announcement was made by the Narendra Modi government.

Full notes and 3 MCQs ›

Government Schemes

12. Kapas Kisan App: CCI Digitises Cotton Procurement for Farmers

The Cotton Corporation of India (CCI) launched the Kapas Kisan App.
The app digitises cotton procurement across India from the 2025-26 procurement season.
It works within the Minimum Support Price (MSP) framework.
The headline credits the app with serving about 16 lakh farmers.

Full notes and 3 MCQs ›

Environment & Ecology

Environment & Ecology

13. Cyclone Shakthi: Arabian Sea Storm Off Gujarat Coast, Oct 2025

IMD confirmed Cyclone Shakthi in the northeast Arabian Sea, about 340 km west of Dwarka.
It became a Cyclonic Storm on 3 October and was expected to intensify further.
The Bay of Bengal gets more cyclones than the Arabian Sea.

Full notes and 3 MCQs ›

Environment & Ecology

14. Snow Leopards: Himachal Records 83 in 2025 Survey

Himachal Pradesh counted 83 snow leopards in 2025, against 51 in 2021.
Snow leopard: IUCN Vulnerable, CITES Appendix I, Schedule I of 1972 Act.
Project Snow Leopard began in 2009 across five Himalayan states.

Full notes and 3 MCQs ›

Environment & Ecology

15. Cyclone Shakti: First Arabian Sea Cyclone of the Season

The India Meteorological Department said the season's first cyclonic storm over the Arabian Sea had become Cyclone Shakti.
The system lay about 250 km west-southwest of Dwarka in Gujarat.
It was expected to grow into a severe cyclonic storm by Saturday.
A major impact on the Indian landmass was considered unlikely, though seas were forecast to be rough over the weekend.

Full notes and 3 MCQs ›

Test yourself

15 questions from the news of 4 October 2025, with answers and explanations.