Daily Current Affairs: 7 February 2025

Current affairs of 7 February 2025: US Foreign Aid Freeze Under Trump and USAID Impact; Chabahar Port: India’s Gateway to Central Asia and US Sanctions Risk; Pinaka Rocket Launcher: Rs 10,200 Crore Ammunition Deals, and 10 more topics. Key facts for every exam, with a quiz.

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In this issue: 13 topics

National Affairs

Ad-Hoc Judges in High Courts: Supreme Court Relaxes 2021 Rule

Banking & Finance

Green Bonds: Meaning, Issuers, Benefits and Greenium
RBI MPC Feb 2025: Repo Rate Cut to 6.25%
Banks’ Q3 FY25 Profit, NII and Margin Squeeze

Economy

MCLR Explained: Marginal Cost Lending Rate Basics
Union Budget 2025-26: Fiscal Anchor and Tax Relief Takeaways

International Affairs

US Foreign Aid Freeze Under Trump and USAID Impact
Chabahar Port: India’s Gateway to Central Asia and US Sanctions Risk

Agriculture & Rural

Ethanol Blending in India: E20 Milestone and Concerns
Harit Samriddhi Project: CIL CSR Farm Training in Chatra
Rural Agricultural Land: Capital Gains Tax Rules
FPOs in India: Scale, Challenges and Way Forward

Defence & Security

Pinaka Rocket Launcher: Rs 10,200 Crore Ammunition Deals

National Affairs

Polity & Governance

1. Ad-Hoc Judges in High Courts: Supreme Court Relaxes 2021 Rule

Supreme Court relaxed its 2021 rule that allowed ad hoc judges only in High Courts with over 20% vacancies.
Ad hoc judges will hear only criminal appeals, sitting in a Bench headed by a sitting judge.
Article 224A, introduced in 1963, permits temporary appointment of retired judges to High Courts.
High Courts had 62 lakh pending cases on 25 January 2025.

Full notes and 3 MCQs ›

Banking & Finance

Economy

2. Green Bonds: Meaning, Issuers, Benefits and Greenium

Green bonds fund climate- and environment-friendly projects and pay fixed income to investors.
Issuers can be governments, companies or multilateral organisations; introduced in 2007.
Sovereign green bonds can help India meet 175 GW renewable capacity and net zero by 2070.

Full notes and 3 MCQs ›

Economy

3. RBI MPC Feb 2025: Repo Rate Cut to 6.25%

RBI cut the repo rate by 25 basis points from 6.5% to 6.25%, the first cut since May 2020.
RBI projects FY26 GDP growth at 6.7% and CPI inflation for 2025-26 at 4.2%.
RBI kept a neutral policy stance, leaving room to respond to changing conditions.
Exclusive .bank.in and .fin.in domains will be introduced for Indian financial institutions to improve security.

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Economy

4. Banks’ Q3 FY25 Profit, NII and Margin Squeeze

Net profit of 32 scheduled commercial banks rose 21.2% YoY in Q3 FY25 but fell 2.4% QoQ; excluding SBI, growth was 12%.
SBI's net profit jumped 84.3% YoY to ₹16,891 crore.
Net interest margin slipped 7 basis points YoY to 3.36%.
RBI repo rate cuts could squeeze margins further, hitting private banks most.

Full notes and 3 MCQs ›

Economy

5. MCLR Explained: Marginal Cost Lending Rate Basics

MCLR, the Marginal Cost of Funds-based Lending Rate, is the minimum rate a bank can charge, with limited exceptions.
RBI put MCLR into effect on 1 April 2016.
It is tenor-linked and rests on marginal funding cost, operating costs and the statutory liquidity ratio (SLR).

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Economy

6. Union Budget 2025-26: Fiscal Anchor and Tax Relief Takeaways

The Budget set a gross fiscal deficit target of 4.4% of GDP for FY26.
The fiscal anchor moves to debt-to-GDP, targeted at 50% by March 2031.
A six-year mission aims at self-reliance in pulses: tur, urad and masoor.
Tied transfers rise to 34.8% of untied transfers in FY26.

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International Affairs

International Relations

7. US Foreign Aid Freeze Under Trump and USAID Impact

Trump administration halted foreign aid, seen as more retreat from global commitments after leaving WHO and the Paris accord.
USAID, founded 1961, had a $44.2 billion budget in 2024, about 0.4% of the US federal budget.
That funding was 42% of the humanitarian aid the UN tracks worldwide.

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International Relations

8. Chabahar Port: India’s Gateway to Central Asia and US Sanctions Risk

Chabahar, in Iran's Sistan and Baluchistan Province on the Gulf of Oman, is Iran's only oceanic port.
India signed an MoU in 2015 and a new 10-year contract has since been agreed.
Chabahar lets India reach Afghanistan and Central Asia bypassing Pakistan, and counters China's Gwadar.
US sanctions risk looms after a Trump order; India got a waiver in 2018.

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Agriculture & Rural

Economy

9. Ethanol Blending in India: E20 Milestone and Concerns

India reached E20 in March 2025, ahead of its 2025-26 target, under the Ethanol Blended Petrol Programme.
EBP began in 2003, E10 came in 2022; E30 is targeted by 2030.
Concerns: corrosion, lower mileage, vehicle compatibility, cold starts and food security.

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Government Schemes

10. Harit Samriddhi Project: CIL CSR Farm Training in Chatra

Roots Foundation and Coal India Ltd launched the Harit Samriddhi project under CIL's CSR initiative in Chatra, Jharkhand.
It operates in Tandwa and Simaria blocks and will train 2,000 farmers; over 1,000 are certified by the Agricultural Skill Council of India.
Sixty demonstration farms across 60 villages will work as knowledge hubs.

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Economy

11. Rural Agricultural Land: Capital Gains Tax Rules

Sale of rural agricultural land is exempt from capital gains tax, while urban agricultural land is taxable.
Distance limits from municipal or cantonment boundaries are 2 km, 6 km and 8 km depending on population slab.
Urban agricultural land sold within 2 years is taxed at slab rate; after 2 years, LTCG is 12.5%.
Distance is measured in a straight line, not by road.

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Government Schemes

12. FPOs in India: Scale, Challenges and Way Forward

India has over 33,000 registered FPOs, and 66% are under 4 years old.
A Central Sector Scheme supports the promotion of 10,000 FPOs.
Most FPOs plateau at ₹25-45 lakh revenue, with member engagement of only 20-30%.

Full notes and 3 MCQs ›

Defence & Security

13. Pinaka Rocket Launcher: Rs 10,200 Crore Ammunition Deals

The Cabinet Committee on Security cleared two deals worth about Rs 10,200 crore for Pinaka ammunition.
Pinaka was developed by DRDO for the Indian Army.
Its maximum range is 45 km and one launcher fires 12 HE rockets in 44 seconds.

Full notes and 3 MCQs ›

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Daily Current Affairs: 7 February 2025

In this issue: 13 topics

National Affairs

1. Ad-Hoc Judges in High Courts: Supreme Court Relaxes 2021 Rule

Banking & Finance

2. Green Bonds: Meaning, Issuers, Benefits and Greenium

3. RBI MPC Feb 2025: Repo Rate Cut to 6.25%

4. Banks’ Q3 FY25 Profit, NII and Margin Squeeze

Economy

5. MCLR Explained: Marginal Cost Lending Rate Basics

6. Union Budget 2025-26: Fiscal Anchor and Tax Relief Takeaways

International Affairs

7. US Foreign Aid Freeze Under Trump and USAID Impact

8. Chabahar Port: India’s Gateway to Central Asia and US Sanctions Risk

Agriculture & Rural

9. Ethanol Blending in India: E20 Milestone and Concerns

10. Harit Samriddhi Project: CIL CSR Farm Training in Chatra

11. Rural Agricultural Land: Capital Gains Tax Rules

12. FPOs in India: Scale, Challenges and Way Forward

Defence & Security

13. Pinaka Rocket Launcher: Rs 10,200 Crore Ammunition Deals

Test yourself