Current Affairs Quiz 12th June 2025 Quiz

Exp. CAQM, CSIR-CRRI, SPA sign MoU to reduce dust pollution via urban road redevelopment

The Commission for Air Quality Management (CAQM) signed a Memorandum of Understanding with CSIR-Central Road Research Institute (CSIR-CRRI) and School of Planning and Architecture (SPA), New Delhi, to tackle dust pollution through urban road redevelopment.

 Focus on Dust Pollution Control: The collaboration targets the implementation of a standardized framework for urban road redevelopment, including paving and greening of sidewalks and pathways to reduce dust levels in Delhi-NCR.

Project Monitoring Cell Setup: The MoU includes establishing a Project Monitoring Cell (PMC) at CAQM, with facilitation from CSIR-CRRI and SPA, to ensure phased and efficient implementation of road redevelopment strategies across NCR States.

Exp. Covrzy and NammaYatri join forces to provide health coverage to gig workers

Bengaluru-based insurance-tech startup Covrzy has collaborated with Namma Yatri to provide affordable and accessible health insurance to auto and cab drivers and their families across India.

Covrzy’s health insurance offerings will be embedded directly into the Namma Yatri driver app, enabling drivers to compare, purchase, and manage insurance policies digitally with ease, including features like claim requests, policy downloads, and network hospital listings.

The initiative will initially cover over 3,000 drivers in Bengaluru and is planned to expand to more than 50,000 drivers across multiple cities like Kolkata, Chennai, Kochi, and Bhubaneswar within 12–18 months.a

Exp. Jana Small Finance Bank Applies for Universal Banking License to Expand National Footprint and Services

Jana Small Finance Bank has formally applied to the Reserve Bank of India (RBI) for a Universal Banking License, marking a significant step in its transformation journey and aligning with its mission to become a comprehensive financial institution catering to all segments of society.

Since obtaining its Small Finance Bank license in 2017, Jana SFB has expanded to 802 branches across 23 states and 2 union territories, serving over 12 million customers, with 70% of its lending book now secured, largely through mortgage-backed loans.

The bank aims to become an Anchor Bank for a Rising and Atmanirbhar Bharat, by offering a wider array of banking services to individuals, MSMEs, and institutions, with a strong emphasis on digital innovation, customer-centric solutions, and sustainable growth.

Exp. Razorpay and RateGain Join Forces to Transform Hotel Payments with AI-Driven, Secure Digital Solutions

RateGain Travel Technologies has partnered with Razorpay to revolutionize hotel payments in India by integrating Razorpay’s secure and flexible payment gateway into RateGain’s hotel booking engine, providing guests with a seamless and intelligent digital payment experience.

With the Indian travel and hospitality market projected to reach $125 billion by 2027 and over 70% of hotel bookings expected to happen online, the partnership aims to meet the growing demand for secure, frictionless, and automated digital payment solutions in the industry.

Razorpay’s platform, compliant with PCI DSS Level 1 and SOC 3 standards, brings advanced fraud detection and payment security tools, while RateGain leverages AI-driven automation to enhance decision-making and further streamline the guest experience.

Exp. Sumit Madan Appointed as MD & CEO of Axis Max Life Insurance

Max Financial Services Ltd has announced the appointment of Sumit Madan as the new Managing Director and CEO of Axis Max Life Insurance Ltd, effective from October 1, 2025, following the retirement of current CEO Prashant Tripathy on September 30, 2025. His appointment is subject to shareholder and IRDAI approval.

Sumit Madan, currently the Chief Distribution Officer at Axis Max Life, has over 25 years of experience in the banking and financial services sector. He previously played a key role at IDFC FIRST Bank, where he helped expand the branch network and achieve a CASA ratio of over 50%.

Exp. RBI to Discontinue Daily Variable Rate Repo Auctions from June 11 Amid ₹3 Lakh Crore Liquidity Surplus

The Reserve Bank of India (RBI) has announced that it will discontinue daily Variable Rate Repo (VRR) auctions from June 11, 2025, due to a significant liquidity surplus in the banking system, which currently stands at around ₹3 lakh crore.

The decision follows weak demand for daily VRR operations, with banks borrowing only ₹3,711 crore and ₹3,853 crore on June 9 and 10 respectively, against a notified ₹25,000 crore—signaling that banks do not need daily support under current surplus conditions.

Daily VRR auctions were introduced on January 16, 2025, to manage temporary liquidity tightness caused by tax outflows and forex interventions, but with easing liquidity and declining overnight market rates, the RBI is now focusing on stabilizing money market dynamics.

While daily VRRs are being discontinued, the RBI is expected to continue 14-day VRR auctions to handle short-term liquidity needs. This move follows a 100 bps CRR cut to 3.0%, aimed at injecting ₹2.5 lakh crore into the banking system, aligning with the RBI’s calibrated and neutral policy stance.

Exp. 10 June – International Day for Dialogue among Civilization

The International Day for Dialogue among Civilizations is observed every year on June 10, with the aim of promoting understanding, tolerance, and open dialogue between cultures, communities, and civilizations around the world.

 The day was proclaimed by the United Nations in 2001, in response to increasing global tensions and cultural misunderstandings, encouraging nations to replace the “clash of civilizations” with conversations that foster peace and cooperation.

Exp. 11 June – International Day of Play

The International Day of Play is celebrated every year on June 11 to highlight the essential role of play in the development, well-being, and learning of children across the globe.

Theme 2025 – Choose Play – Every Day

 Established by the United Nations in 2023, this day recognizes play as a fundamental right of every child, as enshrined in Article 31 of the UN Convention on the Rights of the Child.

The day promotes inclusive, safe, and accessible play environments and encourages governments, communities, schools, and families to prioritize play in both policy and practice.

Exp. FSIB Recommends R Doraiswamy as Next CEO & MD of LIC

The Financial Services Institutions Bureau (FSIB) has recommended R Doraiswamy as the new CEO and MD of Life Insurance Corporation of India (LIC), after evaluating four candidates on performance, experience, and other criteria.

Doraiswamy, who has been serving as MD at LIC since September 1, 2023, brings over 30 years of experience across operations, marketing, technology, and academics; he previously worked at National Insurance Academy and currently holds multiple directorships.

He is expected to succeed Sat Pal Bhanoo, the interim CEO & MD (appointed on June 8, 2025), who is set to serve till September 7, 2025, following the tenure of former CEO Siddhartha Mohanty.

Exp. Mohd. Arif Khan Appointed Deputy CEO of SBI General Insurance

Mohd. Arif Khan has been appointed as the Deputy Chief Executive Officer (Dy. CEO) of SBI General Insurance, bringing over two decades of experience in the banking industry.

He started his career in 2000 as a probationary officer at State Bank of India (SBI) and has since held senior roles in retail banking, core banking systems, and strategic training.

Prior to this appointment, he served as the General Manager, Network-I, at SBI’s Local Head Office in Thiruvananthapuram, showcasing strong leadership in network management.

Recent Appointment in Banking & Insurance Sector

• CEO of Asirvad Microfinance – Roy Varghese
• MD & CEO of Punjab & Sind Bank – Swarup Kumar Saha (extension till Feb 2027)
• CFO of UCO Bank – Sumit Khandelwal
• CEO of Deutsche Bank’s India Global Capability Centre (GCC) – Stefan Schaffer

Exp. Andhra Pradesh Govt to Disburse ₹8,745 Crore Under ‘Talliki Vandanam’ Scheme as TDP Marks One Year in Power

The Andhra Pradesh government will disburse ₹8,745 crore under the ‘Talliki Vandanam’ scheme, providing ₹15,000 annually to mothers of school-going children, benefiting around 67 lakh students.

The scheme, approved by CM N. Chandrababu Naidu coincides with the TDP-led coalition government’s first anniversary, and is considered a key component of Naidu’s “Super Six” welfare agenda.

The benefit will cover students from Class 1 to Intermediate First Year, with the amount credited directly to the mothers’ bank accounts after admission data is finalized.

About Andhra Pradesh

• Capital – Amaravati
• Chief Minister – N Chandrababu Naidu
• Deputy CM – Pawan Kalyan
• Governor – Abdul Nazeer

Exp. Indian Railways Introduces Aadhaar-Based Reforms in Tatkal Booking System from July 1 to Curb Misuse and Ensure Fair Access

From July 1, 2025, only Aadhaar-authenticated users will be allowed to book Tatkal tickets via the IRCTC website and mobile app, enhancing transparency and preventing misuse.

Starting July 15, OTP verification via registered mobile number will be mandatory for all Tatkal bookings—whether done online, at PRS counters, or through authorized agents.

 To curb bulk bookings, authorized agents will be barred from booking Tatkal tickets during the first 30 minutes of the booking window — 10:00–10:30 AM for AC classes and 11:00–11:30 AM for non-AC classes.

The Ministry of Railways has instructed CRIS and IRCTC to implement system upgrades and asked passengers to link their Aadhaar with their IRCTC accounts to avoid any booking issues.

Exp. SEBI Mandates UPI Payment System for Market Intermediaries from Oct 1

The Securities and Exchange Board of India (SEBI) today said it has mandated a new UPI payment mechanism for all registered intermediaries who collect funds from investors to enhance investor protection and financial transparency within the securities market.

Unified Payments Interface (UPI) payment mechanism will be implemented from 1st October 2025. This step comes in response to increasing instances of fraud by unregistered entities impersonating genuine market intermediaries.

 This innovative mechanism is set to significantly improve the safety and accessibility of financial transactions within the securities market by providing a verified and secure payment channel.

To assist investors further, SEBI is also launching a tool called ‘SEBI Check’, which will allow users to confirm the authenticity of UPI IDs by scanning a QR code or manually entering the UPI ID to view verified bank details.

Exp. Indian Army Joins 22nd Multinational Khaan Quest Exercise in Mongolia with 40-Member Contingent

A 40-member Indian Army contingent, including personnel from the Kumaon Regiment and three women (one officer and two soldiers), has arrived in Ulaanbaatar, Mongolia, to take part in the 22nd edition of the multinational military exercise Khaan Quest, scheduled from 14 to 28 June 2025.

Khaan Quest, co-sponsored by the United States Indo-Pacific Command and the Mongolian Armed Forces, began as a bilateral exercise in 2003 and became a multinational event in 2006, with India participating since then.

The exercise aims to enhance interoperability for UN peace operations (Chapter VII) through drills in joint operations, counter-IED tactics, evacuation of civilians, cordon and search, and checkpoint establishment, promoting cooperation among participating nations’ armed forces.

Exp. India’s 1st Underwater Museum to be Built Around INS Guldar in Maharashtra

India’s first underwater museum and artificial coral reef will be developed around the decommissioned warship INS Guldar near Nivati Rocks at Vengurla in Sindhudurg district of Maharashtra.

The initiative, supported by the central government, aims to boost marine conservation and tourism, offering scuba diving and future submarine tours. The Union Tourism Ministry has approved 46.91 crore rupees for the project.

The ship, weighing 1,120 tons, was decommissioned in January 2024. It has been officially handed over by the central government to the Maharashtra Tourism Development Corporation for conversion into a submerged museum.  

Exp. 12 June – World Day Against Child Labour

World Day Against Child Labour is observed every year on 12 June to raise awareness about the plight of child labourers worldwide and to promote efforts to eliminate child labour in all its forms.

Theme 2025 – Progress is clear, but there’s more to do: let’s speed up efforts

The day was established by the International Labour Organization (ILO) in 2002 to highlight the need for global action against child labour, which deprives children of their childhood, education, and potential.

The observance aims to encourage governments, organizations, and individuals to take decisive steps to combat child labour by enforcing laws, improving education access, and supporting families economically.