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Daily Current Affairs: 1 August 2025

Current affairs of 1 August 2025: Legal Aid Gaps in India Justice Report 2025 and NALSA Role; INS Himgiri stealth frigate delivered under Project-17A; Mangrove Restoration Drives in Tamil Nadu, Gujarat and Maharashtra, and 13 more topics. Key facts for every exam, with a quiz.

Take the quiz (15 questions)August 2025

In this issue: 16 topics

National Affairs

Independence Day speech: PM Modi seeks ideas from citizens
Amit Shah Honours Lokmanya Tilak on Death Anniversary

Government Schemes

NCDC Grant-in-Aid Scheme: ₹2,000 Crore Cabinet Approval
PM-KISAN Scheme: Targets vs Actual Reach

Banking & Finance

ICICI Bank UPI Fees on Payment Aggregators From 1 August 2025
Non-Food Bank Credit Growth Eases to 10.2% in June 2025
IRDAI Master Circular: Rural, Social and Motor TP Targets
SEBI IPO Allocation Proposal for Issues Above ₹5,000 Crore

Economy

PMIS and IBC Gaps Flagged by Parliamentary Finance Panel

Agriculture & Rural

Agricultural Protectionism in India: Case for Market Reforms

Science & Technology

Kavach 4.0 Goes Live on Mathura-Kota Rail Section
Starlink in India: Airtel and Jio Tie-Ups, Risks, Way Ahead

Environment & Ecology

Mangrove Restoration Drives in Tamil Nadu, Gujarat and Maharashtra

Defence & Security

INS Himgiri stealth frigate delivered under Project-17A

Reports & Indexes

Legal Aid Gaps in India Justice Report 2025 and NALSA Role
IBAI-McKinsey Report: Insurance Gaps and 2030 Outlook

National Affairs

Polity & Governance

1. Independence Day speech: PM Modi seeks ideas from citizens

PM Narendra Modi invited all citizens to send ideas for his Independence Day speech.
Suggestions can be posted on the open forums of MyGov and the NaMo App.
The invitation was made through a social media post.

Full notes and 3 MCQs ›

History, Art & Culture

2. Amit Shah Honours Lokmanya Tilak on Death Anniversary

Amit Shah, the Union Home Minister, honoured Lokmanya Bal Gangadhar Tilak on the anniversary of his passing in August 2025.
Shah said Tilak turned Swaraj into a mass movement.
He added that Tilak made Swadeshi a matter of public consciousness and lifted culture as a source of national pride.

Full notes and 3 MCQs ›

Government Schemes

3. NCDC Grant-in-Aid Scheme: ₹2,000 Crore Cabinet Approval

Cabinet approved Grant-in-Aid to NCDC, a Central Sector Scheme worth ₹2,000 crore for FY 2025-26 to 2028-29.
The grant lets NCDC raise ₹20,000 crore from open markets for lending to cooperatives.
NCDC: set up 1963, statutory corporation, under the Ministry of Cooperation.

Full notes and 3 MCQs ›

Government Schemes

4. PM-KISAN Scheme: Targets vs Actual Reach

PM-KISAN gives land-holding farmer families Rs 6,000 a year in three equal instalments, four months apart.
It is a fully Centre-funded scheme run by the Ministry of Agriculture and Farmers Welfare.
Beneficiaries reached 9.59 crore by October 2024 against an initial estimate of 14.5 crore.

Full notes and 3 MCQs ›

Banking & Finance

Banking & Finance

5. ICICI Bank UPI Fees on Payment Aggregators From 1 August 2025

ICICI Bank began billing payment aggregators for UPI processing on 1 August 2025.
Yes Bank and Axis Bank already levied similar charges.
UPI has no Merchant Discount Rate, so banks earn little per transaction.

Full notes and 3 MCQs ›

6. Non-Food Bank Credit Growth Eases to 10.2% in June 2025

Non-food bank credit grew 10.2% Y-o-Y in the fortnight ended 27 June 2025, against 13.8% a year earlier.
Demand weakened in agriculture, services, NBFCs, trade, retail loans and industry.
Causes cited: seasonality, compliance workload early in the fiscal year, and borrower caution.

Full notes and 3 MCQs ›

Banking & Finance

7. IRDAI Master Circular: Rural, Social and Motor TP Targets

IRDAI's Master Circular of 25 July 2025 covers FY2025-26 and FY2026-27 and replaces the 2024 version.
Rural target: 25,000 Gram Panchayats in FY26, then 50,000 in FY27.
Social sector must form 10% of insured lives in FY26 and 12% in FY27.

Full notes and 3 MCQs ›

Banking & Finance

8. SEBI IPO Allocation Proposal for Issues Above ₹5,000 Crore

SEBI proposed graded IPO quotas for issues above ₹5,000 crore: retail down to 25%, QIB up to 60%.
Anchor reservation for life insurers, pension funds and domestic mutual funds would rise from 30% to 40%.
Retail participation stayed flat for three years even as IPOs grew larger.

Full notes and 3 MCQs ›

Economy

Banking & Finance

9. PMIS and IBC Gaps Flagged by Parliamentary Finance Panel

Standing Committee on Finance, chaired by Bhartruhari Mahtab, tabled its report in Parliament on 31 July 2025.
PMIS allocation was ₹2,000 crore at BE FY25 and ₹380 crore at RE FY25.
Panel flagged no living-expense support and weak tracking of internship-to-job conversion in PMIS.
For IBC, it sought fast-track tribunals with strict timelines.

Full notes and 3 MCQs ›

Agriculture & Rural

10. Agricultural Protectionism in India: Case for Market Reforms

Tariff shielding of farming for food security has left agriculture uncompetitive, says the opinion.
MSP-type support tilts cropping to rice and wheat, so India both exports and imports food.
The suggested fix is lower risk and higher productivity, not market insulation.

Full notes and 3 MCQs ›

Science & Technology

Science & Technology

11. Kavach 4.0 Goes Live on Mathura-Kota Rail Section

Kavach 4.0 is now commissioned on the Mathura-Kota section of the Delhi–Mumbai route.
It is an indigenous Automatic Train Protection system rated SIL 4, the top safety grade.
Approved in May 2025 for trains up to 160 km/h.

Full notes and 3 MCQs ›

Science & Technology

12. Starlink in India: Airtel and Jio Tie-Ups, Risks, Way Ahead

Airtel and Jio partnered with SpaceX to offer Starlink satellite internet, aimed at rural and remote last-mile connectivity.
Concerns include national security, data sovereignty, and monopoly power as SpaceX has over 7,000 satellites against OneWeb's 650+.
BSNL is missing from the arrangement, which weakens government oversight and strategic leverage.
Suggested safeguards: technology transfer clauses, local data hosting and tiered, shared or community pricing.

Full notes and 3 MCQs ›

Environment & Ecology

Environment & Ecology

13. Mangrove Restoration Drives in Tamil Nadu, Gujarat and Maharashtra

About 4,900 sq. km of India is under mangroves, in belts such as the Sundarbans, Pichavaram and Gulf of Kutch.
Tamil Nadu raised its mangrove area from 4,500 ha to 9,000 ha over 2021-24 through the Green Tamil Nadu Mission.
Gujarat, a MISHTI front-runner, restored over 19,000 ha within two years.

Full notes and 3 MCQs ›

Defence & Security

Science & Technology

14. INS Himgiri stealth frigate delivered under Project-17A

Himgiri, built by GRSE Kolkata, was delivered in July 2025 under Project-17A.
Project-17A: seven stealth frigates costing ₹45,000 crore, split 4 (MDL) and 3 (GRSE).
Himgiri and Udaygiri are due for commissioning at the end of August 2025.

Full notes and 3 MCQs ›

Reports & Indexes

Polity & Governance

15. Legal Aid Gaps in India Justice Report 2025 and NALSA Role

India Justice Report 2025: only 15.5 lakh people used free legal aid in FY 2023-24 despite over 80% eligibility.
Legal aid funds fell to ₹169 crore (2022-23) from ₹207 crore (2017-18); utilisation dropped from 75% to 59%.
NALSA is a statutory body under the Legal Services Authorities Act, 1987; the Chief Justice of India is Patron-in-Chief.

Full notes and 3 MCQs ›

Banking & Finance

16. IBAI-McKinsey Report: Insurance Gaps and 2030 Outlook

IBAI marked its 24th Foundation Day in Mumbai with a McKinsey study titled 'Leading the Path to Insurance for All: Broker of the Future'.
Market size is projected at ₹25 lakh crore by 2030, against ₹11 lakh crore in 2024; penetration from 3.7% to 5%.
Only 735 licensed brokers exist; the top 36 earn 85% of broking revenue.

Full notes and 3 MCQs ›

Test yourself

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