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Daily Current Affairs: 2 July 2025

Current affairs of 2 July 2025: RailOne Super App Launched for Indian Railways Passengers; ELI Scheme: ₹99,446 Crore Plan for 3.5 Crore Jobs; RBI Project Finance Provisioning Norms from October 2025, and 12 more topics. Key facts for every exam, with a quiz.

Take the quiz (15 questions)July 2025

In this issue: 15 topics

National Affairs

RailOne Super App Launched for Indian Railways Passengers
NIPCCD Renamed as Savitribai Phule Women and Child Institute

Government Schemes

ELI Scheme: ₹99,446 Crore Plan for 3.5 Crore Jobs
MGNREGS Work Demand Rises 4.5% in June 2025

Banking & Finance

RBI Project Finance Provisioning Norms from October 2025
Saraswat Bank Seeks RBI Nod to Take Over New India Co-op Bank
RBI’s Role in Bank Mergers: Section 44A Approval Rules
NBFC Bank Credit Keeps Falling Despite RBI Relief
AI in Indian Banking: Uses, Benefits and Limits
Slice Super Card: UPI Credit Card and UPI Bank Branch in Bengaluru
AU Small Finance Bank and LIC Tie Up for Life Cover
SEBI Draft: 2x Peak-Load IT Capacity for Commodity Exchanges

Economy

Financial Conditions Index: RBI’s Proposed FCI Explained

International Affairs

Dalai Lama says Gaden Phodrang Trust alone will pick successor

Agriculture & Rural

Co-operative Stack: PACS to Anchor Rural Scheme Delivery

National Affairs

Government Schemes

1. RailOne Super App Launched for Indian Railways Passengers

RailOne was launched on 2 July 2025 by Railway Minister Ashwini Vaishnaw.
It was built by CRIS, the IT wing of Indian Railways, as one app for many passenger services.
Unreserved tickets booked through R-Wallet in the app earn a 3% discount.
The upgraded Passenger Reservation System is meant to handle 1.5 lakh bookings and 40 lakh enquiries per minute.

Full notes and 3 MCQs ›

Government Schemes

2. NIPCCD Renamed as Savitribai Phule Women and Child Institute

NIPCCD has been renamed Savitribai Phule National Institute of Women and Child Development.
Old name: National Institute of Public Cooperation and Child Development.
A new Regional Centre is to be inaugurated at Ranchi.
The Ranchi centre is meant to strengthen grassroots delivery of women and child welfare schemes across Eastern India.

Full notes and 3 MCQs ›

Government Schemes

3. ELI Scheme: ₹99,446 Crore Plan for 3.5 Crore Jobs

Union Cabinet cleared ELI, a job-linked incentive scheme with ₹99,446 crore outlay.
Target: 3.5 crore jobs from 1 August 2025 to 31 July 2027, including 1.92 crore first-time workers.
Employers can earn up to ₹3,000 monthly per additional job.

Full notes and 3 MCQs ›

Government Schemes

4. MGNREGS Work Demand Rises 4.5% in June 2025

About 27.59 million households sought MGNREGS work in June 2025.
The June 2024 figure was 26.39 million.
Work demand rose 4.5% year-on-year.

Full notes and 3 MCQs ›

Banking & Finance

Banking & Finance

5. RBI Project Finance Provisioning Norms from October 2025

RBI's final project finance provisioning rules apply from 1 October 2025, to new projects only.
Construction-phase general provision: 1.25% for CRE, 1.0% for CRERH and other projects.
Crisil and bankers criticised the uniform approach for ignoring project-specific risk.

Full notes and 3 MCQs ›

Banking & Finance

6. Saraswat Bank Seeks RBI Nod to Take Over New India Co-op Bank

Saraswat Cooperative Bank sought RBI approval to merge New India Cooperative Bank (NICB) into itself, subject to shareholder consent.
NICB's net worth stood at negative ₹102.74 crore as of FY25.
RBI had capped withdrawals at ₹25,000 per depositor in February 2025.

Full notes and 3 MCQs ›

Polity & Governance

7. RBI’s Role in Bank Mergers: Section 44A Approval Rules

RBI oversees a bank merger from proposal to post-merger integration.
Section 44A of the Banking Regulation Act, 1949 needs a two-thirds shareholder majority in both banks.
Cross-border mergers also fall under FEMA rules and need RBI and government clearance.

Full notes and 3 MCQs ›

Banking & Finance

8. NBFC Bank Credit Keeps Falling Despite RBI Relief

Bank lending to NBFCs kept falling despite RBI's April 2025 risk-weight rollback.
Many PSBs did not cut MCLR after the 50-bps repo cut.
NBFCs rated A- to BBB face the sharpest funding squeeze.

Full notes and 3 MCQs ›

Banking & Finance

9. AI in Indian Banking: Uses, Benefits and Limits

AI shrinks bank back-office work such as NOCs, credit memos and KYC from days to minutes.
RBI set up FREE-AI, led by IIT Bombay, to frame guardrails for AI use in banking.
EY put efficiency gains at 15-20%; SBI trimmed query handling time by up to 60%.

Full notes and 3 MCQs ›

Banking & Finance

10. Slice Super Card: UPI Credit Card and UPI Bank Branch in Bengaluru

Slice launched the Slice Super Card: UPI-powered credit, no joining or annual fee, with a 'Slice in 3' interest-free split.
India's first UPI-centric branch and ATM opened in Koramangala, Bengaluru.
Slice, merged with North East Small Finance Bank, runs as a full-stack bank.

Full notes and 3 MCQs ›

Banking & Finance

11. AU Small Finance Bank and LIC Tie Up for Life Cover

AU Small Finance Bank and LIC partnered on 2 July 2025 to sell life insurance.
The tie-up backs 'Insurance for All by 2047' in rural and semi-urban India.
AU SFB was founded in 1996 by Sanjay Agarwal and is India's largest SFB.

Full notes and 3 MCQs ›

Banking & Finance

12. SEBI Draft: 2x Peak-Load IT Capacity for Commodity Exchanges

SEBI proposed IT capacity of 2 times projected peak load for commodity exchanges and clearing corporations.
The 2016 norm was 4 times and covered only exchanges.
Utilisation above 75% of installed capacity would require immediate corrective action.

Full notes and 3 MCQs ›

Economy

13. Financial Conditions Index: RBI’s Proposed FCI Explained

The RBI's June bulletin proposed an experimental Financial Conditions Index, not yet an official tool.
It combines 20 indicators from five market segments, tracked at high frequency.
The equity segment uses the Sensex.

Full notes and 3 MCQs ›

International Affairs

International Relations

14. Dalai Lama says Gaden Phodrang Trust alone will pick successor

The 14th Dalai Lama said the Gaden Phodrang Trust is the only body able to recognise his reincarnation.
The statement came just before his 90th birthday; he was born on 6 July 1935.
It reaffirms the continuation of the Dalai Lama institution.
He earlier set out a position on succession in September 2011.

Full notes and 3 MCQs ›

Agriculture & Rural

Government Schemes

15. Co-operative Stack: PACS to Anchor Rural Scheme Delivery

The Centre is building a Co-operative Stack so rural schemes reach people through PACS.
It copies the Agri Stack idea of pooling land, crop and scheme-usage data.
PACS would replace SHGs and FPOs as the central delivery node.

Full notes and 3 MCQs ›

Test yourself

15 questions from the news of 2 July 2025, with answers and explanations.