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Daily Current Affairs: 7 August 2025

Current affairs of 7 August 2025: Carriage of Goods by Sea Bill, 2025 Replaces 1925 Act; SIGHT Scheme: Record-Low Green Ammonia Price of ₹55.75/kg; Merchant Shipping Bill 2024 Passed by Lok Sabha, and 12 more topics. Key facts for every exam, with a quiz.

Take the quiz (15 questions)August 2025

In this issue: 15 topics

National Affairs

Carriage of Goods by Sea Bill, 2025 Replaces 1925 Act
Merchant Shipping Bill 2024 Passed by Lok Sabha
Sarnath nominated for UNESCO World Heritage List for 2025-26

Government Schemes

SIGHT Scheme: Record-Low Green Ammonia Price of ₹55.75/kg

Banking & Finance

T-Bill SIP on RBI Retail Direct: Auto-Bidding Explained
RBI co-lending norms: 10% retention, 5% DLG and escrow rule
RBI Announces Three Consumer-Focused Initiatives After August 2025 MPC
Axis Bank ‘Lock FD’ Blocks Online Closure of Deposits
Tata AIA Shubh Shakti: Term Plan Designed for Women
Gro Digital and IDFC FIRST Bank Tie Up for Fleet FASTag
Punjab First State to Move Co-op Banks to Finacle 10

Economy

RBI Repo Rate Unchanged at 5.5%: Reasons and Impact
WACR as RBI’s Operating Target: Working Group View

International Affairs

US 25% Tariff on Indian Imports Announced from August 2025

Environment & Ecology

Biochar: Carbon Removal, Soil Health and India’s Potential

National Affairs

Polity & Governance

1. Carriage of Goods by Sea Bill, 2025 Replaces 1925 Act

The Carriage of Goods by Sea Bill, 2025 replaces the colonial 1925 Act of the same name.
It adopts the Hague-Visby Rules on bills of lading and carrier liability.
The Centre may adopt future global maritime rules by notification, subject to Parliament's review.

Full notes and 3 MCQs ›

Polity & Governance

2. Merchant Shipping Bill 2024 Passed by Lok Sabha

Lok Sabha passed the Merchant Shipping Bill, 2024 on August 6, 2025, replacing the Merchant Shipping Act, 1958.
Old 561 sections become 16 parts and 325 clauses.
NRIs, OCIs, body corporates and joint ventures may own Indian-flagged vessels.

Full notes and 3 MCQs ›

International Relations

3. Sarnath nominated for UNESCO World Heritage List for 2025-26

India has formally nominated the Ancient Buddhist Site, Sarnath, for the UNESCO World Heritage List under the 2025-26 cycle.
Sarnath has been on UNESCO's tentative list since 1998.
Near Varanasi, it is where Gautama Buddha gave his first sermon, the Dhammachakkappavattana.
Key monuments include the Chaukhandi Stupa and the Dhamek Stupa, built around 500 CE.
The Ashokan Lion Capital, excavated in 1904-05, became the State Emblem of India on 26 January 1950.

Full notes and 3 MCQs ›

Government Schemes

Government Schemes

4. SIGHT Scheme: Record-Low Green Ammonia Price of ₹55.75/kg

India's first SECI auction under SIGHT Mode-2A found a record-low green ammonia price of ₹55.75/kg.
SIGHT sits under the National Green Hydrogen Mission; MNRE leads and MoPNG supports demand.
SIGHT receives ₹17,490 crore of the ₹19,744 crore NGHM budget.

Full notes and 3 MCQs ›

Banking & Finance

5. T-Bill SIP on RBI Retail Direct: Auto-Bidding Explained

RBI launched a SIP facility for Treasury Bills on its Retail Direct platform.
Retail investors can auto-bid in primary T-bill auctions for investment and reinvestment.
T-bills mature in 91, 182 or 364 days and are issued at a discount.

Full notes and 3 MCQs ›

Banking & Finance

6. RBI co-lending norms: 10% retention, 5% DLG and escrow rule

Under RBI's revised co-lending norms, each regulated entity must keep at least 10% of every loan on its own books.
The originating lender can give a default loss guarantee of up to 5% of the outstanding loan.
Disbursements and repayments must pass through an escrow account held with a bank.
Co-lending now extends to non-priority sector loans and to any pair of regulated entities, not only bank-NBFC tie-ups.

Full notes and 3 MCQs ›

Banking & Finance

7. RBI Announces Three Consumer-Focused Initiatives After August 2025 MPC

RBI Governor Sanjay Malhotra announced three consumer-centric steps after the August 2025 MPC meeting.
Re-KYC camps at Panchayat level will serve Jan Dhan holders.
Retail Direct, launched in 2021, will let investors run SIPs in Treasury Bills.

Full notes and 3 MCQs ›

Banking & Finance

8. Axis Bank ‘Lock FD’ Blocks Online Closure of Deposits

Axis Bank launched 'Lock FD' to protect fixed deposits from rising digital frauds.
Once enabled, an FD cannot be closed early through internet or mobile banking.
Closing a locked FD needs a physical branch visit, where identity is verified.

Full notes and 3 MCQs ›

Banking & Finance

9. Tata AIA Shubh Shakti: Term Plan Designed for Women

Tata AIA Life Insurance launched the Shubh Shakti term plan for women on 6 August 2025.
Premiums are 15% lower for women than men for the same cover.
A 12-month premium holiday follows each childbirth.
Monthly income is paid for up to three children until they turn 25.

Full notes and 3 MCQs ›

10. Gro Digital and IDFC FIRST Bank Tie Up for Fleet FASTag

Gro Digital Platforms signed an MoU with IDFC FIRST Bank for fleet FASTag services.
IDFC FIRST Bank will use Gro's SKS network for roadside assistance and FASTag distribution.
FASTag is an RFID-based toll system run by NPCI.

Full notes and 3 MCQs ›

Banking & Finance

11. Punjab First State to Move Co-op Banks to Finacle 10

Punjab became India's first state to upgrade its cooperative banks' core banking system from Finacle 7 to Finacle 10.
SAS Nagar Central Cooperative Bank and Ropar Central Cooperative Bank were upgraded under NABARD's aegis.
Finacle, built by Infosys, is a core banking solution; version 10 is cloud-ready with stronger cybersecurity and AI analytics.

Full notes and 3 MCQs ›

Economy

12. RBI Repo Rate Unchanged at 5.5%: Reasons and Impact

RBI's Monetary Policy Committee unanimously held the repo rate at 5.5%, despite talk of a 25 bps cut.
Reasons: new 25% US tariffs, weak housing sales, 2.1% inflation in June 2025 and earlier cuts still transmitting.
Reverse repo rate stands at 3.35%; cumulative cuts since February 2025 total 100 bps.

Full notes and 3 MCQs ›

13. WACR as RBI’s Operating Target: Working Group View

An RBI working group wants the Weighted Average Call Rate (WACR) kept as the policy operating target.
It advised dropping 14-day VRR/VRRR as the main liquidity tool.
Use operations of 7 days or less for fine-tuning; no new tools are needed.

Full notes and 3 MCQs ›

International Affairs

14. US 25% Tariff on Indian Imports Announced from August 2025

On 30 July 2025 the US President announced a 25% tariff on Indian imports effective 1 August 2025.
Reasons given: high trade barriers and India's energy and defence ties with Russia.
It follows a fifth failed round of India-US trade talks in Washington.
The proposed Russia Sanctions Act 2025 allows up to 500% tariffs on buyers of Russian energy.

Full notes and 3 MCQs ›

Environment & Ecology

Agriculture & Rural Development

15. Biochar: Carbon Removal, Soil Health and India’s Potential

Biochar is a charcoal-like material made by pyrolysis, heating biomass without oxygen.
The IPCC says biochar could sequester up to 2.6 gigatonnes of CO₂ a year worldwide.
India has no national policy framework for biochar in carbon markets or agriculture.

Full notes and 3 MCQs ›

Test yourself

15 questions from the news of 7 August 2025, with answers and explanations.