Current Affairs Quiz 6th August 2025 Quiz

Exp. Bank of Baroda Launches ‘bob FxOne’ Digital Forex Platform for Corporate and MSME Clients

Bank of Baroda has launched ‘bob FxOne’, a digital foreign exchange platform designed specifically for corporate and MSME clients, enabling seamless execution of forex and derivative transactions.

The platform offers real-time live rates, instant confirmations, downloadable deal tickets, and a personalised dashboard, allowing customers to conduct transactions online without the need for branch visits or manual intervention.

Recent Facilities Launched in Banking & Insurance Sector

• Citigroup Launches Strata Elite Card to Challenge AmEx Platinum
• Equitas Small Finance Bank Launches FCNR (B) Deposit and Explorer Savings Account for NRIs and Seafarers
• NABARD Launches RuralTech CoLab to Drive Innovation and Digital Transformation in Rural India
• MCX to Launch India’s First Electricity Futures Contracts for Power Sector Hedging

Exp. PFRDA launches revamped website under PFRDA CONNECT to boost digital engagement

The Pension Fund Regulatory and Development Authority (PFRDA) has launched its modernised and user-friendly website under the PFRDA CONNECT initiative, marking a major step towards digital transformation in the pension sector. The new platform was unveiled by PFRDA Chairperson S. Ramann in New Delhi.

The upgraded website reflects PFRDA’s vision of enhancing transparency, efficiency, and accessibility through cutting-edge technology. Designed in compliance with the Guidelines for Indian Government Websites (GIGW) and the Web Content Accessibility Guidelines (WCAG), the new site ensures inclusiveness and ease of access for all stakeholders, including subscribers, intermediaries, and the general public.

The initiative aligns with PFRDA’s commitment to digital empowerment and stakeholder engagement, creating a more transparent and user-friendly ecosystem for India’s pension sector.

Exp. BEML and TuTr Hyperloop Join Hands to Develop India’s First Indigenous Hyperloop Transportation System

BEML Ltd. and TuTr Hyperloop, a deep-tech startup incubated at IIT Madras, have signed a Memorandum of Understanding (MoU) to jointly develop India’s first indigenously designed Hyperloop transportation system.

The Hyperloop system is designed to enable passenger or cargo pods to travel at ultra-high speeds through sealed, near-vacuum tubes, significantly reducing travel time.

The pods in the Hyperloop will use Magnetic Levitation (Maglev) and Linear Induction Motor propulsion systems, enabling them to glide with minimal resistance for efficient and futuristic transportation.

Exp. NITI Aayog Launches India’s First Electric Mobility Index to Track State-Wise EV Progress

NITI Aayog has launched the India Electric Mobility Index (IEMI), a first-of-its-kind tool designed to evaluate and benchmark the progress of States and Union Territories (UTs) in their transition towards electric mobility.

The IEMI scores states and UTs out of 100 across 16 indicators under three core themes: Transport Electrification Progress (demand-side), Charging Infrastructure Readiness (support system), and EV Research & Innovation Status (supply-side ecosystem).

The Index aims to drive informed decision-making, foster healthy competition among states, and encourage knowledge-sharing of best practices, helping align local actions with India’s national net-zero target by 2070.

IEMI emphasizes the need for state-level coordination, integrated planning, and cross-sectoral collaboration, highlighting the critical role of states in deploying inclusive EV policies and infrastructure development.

Exp. NITI Aayog Unveils Roadmap to Unlock $200 Billion EV Opportunity in India

NITI Aayog launched a report titled “Unlocking a $200 Billion Opportunity: Electric Vehicles in India,” highlighting strategic recommendations and challenges to accelerate India’s transition towards electric mobility. The report was released by senior officials, including Rajiv Gauba and B. V. R. Subrahmanyam.

India aims for 30% EV share in total vehicle sales by 2030, with EV sales rising sharply from 50,000 units in 2016 to 2.08 million in 2024. However, further policy push and acceleration are needed to meet targets.

The report was developed through seven stakeholder consultations and focuses on data-driven decision-making, national-level coordination, and cross-sector collaboration to unlock the full potential of the EV ecosystem.

EV penetration in India has improved from one-fifth of the global level in 2020 to over two-fifths in 2024, showing progress but also emphasising the need for continued efforts to achieve large-scale adoption and tap into the projected $200 billion opportunity.

Exp. Dhruva Space to Launch First Commercial Mission LEAP-1 in Collaboration with Australian Partners Aboard SpaceX Falcon 9

Dhruva Space, a Hyderabad-based spacetech startup, will launch its first commercial mission, LEAP-1, in Q3 of 2025 aboard a SpaceX Falcon 9 rocket, carrying two payloads—an AI module from Australia’s Akula Tech and a hyperspectral imager from Esper Satellites—on its indigenously built P-30 satellite platform.

The mission strengthens Indo-Australian collaboration in space tech, with applications spanning defence, agriculture, disaster response, mining, and environmental management. Akula’s AI module will process machine learning models in orbit, while Esper’s imager will provide rich remote sensing data.

Following successful P-30 testing during ISRO’s PSLV-C58 mission in Jan 2024, LEAP-1 marks Dhruva’s first hosted payload mission integrating GSaaS and ISOCS systems for real-time mission operations. The mission is also backed by support from ISRO and the Australian Space Agency.

Exp. India Becomes World’s 5th Largest Aviation Market in 2024: IATA Report

India ranked as the world’s fifth-largest aviation market in 2024, handling 241 million air passengers, surpassing Japan, and witnessing an 11.1% growth in passenger volume compared to 2023.

The Mumbai–Delhi air route became the 7th busiest airport pair globally, carrying 5.9 million passengers in 2024; the Asia-Pacific region dominated the list of top airport routes.

The US remained the largest aviation market with 876 million passengers, followed by China (741 million), UK (261 million), and Spain (241 million), as per IATA’s World Air Transport Statistics (WATS) 2024.

Premium class international travel (business and first class) saw a global growth of 11.8%, with Asia-Pacific leading the surge at 22.8%, though economy travel in the region grew even faster at 28.6%.

Among aircraft types, Boeing’s B737 was the most-used plane globally in 2024 with 10 million flights, followed by the Airbus A320 (7.9 million flights) and Airbus A321 (3.4 million flights), reflecting ongoing dominance of narrow-body aircraft.

Exp. IRDAI Slaps ₹5 Crore Penalty on Policybazaar for Multiple Regulatory Violations

IRDAI has imposed a ₹5 crore penalty on Policybazaar Insurance Brokers Pvt Ltd for serious violations involving corporate governance, misleading product promotions, irregularities in premium remittances, and multiple compliance failures.

The penalty, issued on August 4, 2025, is based on 11 charges under the Insurance Act, 1938 and IRDAI (Insurance Web Aggregators) Regulations, 2017, highlighting broad ethical and operational lapses by the company.

Exp. Axis Bank Launches ‘Lock FD’ Feature to Curb Cyber Fraud and Strengthen Deposit Security

Axis Bank has launched a new feature called ‘Lock FD’ to prevent the premature closure of fixed deposits through digital platforms, aiming to reduce cyber fraud incidents.

The feature is available via the Axis Mobile App or at bank branches, and it restricts internet and mobile banking access for FD withdrawal once enabled.

The launch of ‘Lock FD’ is part of Axis Bank’s broader cybersecurity initiatives, including the recent rollout of the ‘In-App Mobile OTP’ feature to combat OTP-related fraud.

Exp. Tata AIA launches women-focused term insurance plan ‘Shubh Shakti’

Tata AIA Life Insurance has launched “Shubh Shakti”, a term insurance plan exclusively designed for women, offering approximately 15% lower premiums compared to men, with additional benefits such as 12-month premium breaks after childbirth and special support for single mothers.

“Shubh Shakti” is integrated with Tata AIA Health Buddy, enabling policyholders and their families to access wellness rewards, vaccination support, and other health incentives.  

Exp. Former J&K Governor Satyapal Malik dies

Satyapal Malik, former Governor of Jammu and Kashmir, passed away at the age of 79 in New Delhi after a prolonged illness.

He served as the last Governor of the erstwhile state of Jammu and Kashmir from August 2018 to October 2019, during which Article 370 was abrogated and the state was reorganised into two Union Territories.

Malik’s political career spanned over four decades, during which he held roles such as MLA in Uttar Pradesh (1974–77), Rajya Sabha MP (1980–84, 1986–89), and Lok Sabha MP (1989–91). He also served as Union Minister of State for Parliamentary Affairs and Tourism in 1990.

Before his J&K posting, he was appointed as the Governor of Bihar in 2017 and later also served as Governor of Goa and Meghalaya. Former J&K Governor Satyapal Malik dies at 79 after prolonged illness

Exp. Magnus Carlsen Clinches Inaugural Chess Esports World Cup Title with Dominant Win Over Firouzja

Magnus Carlsen won the inaugural Chess Esports World Cup (EWC 2025) in Riyadh, defeating Alireza Firouzja of Team Falcons in a dominant grand final to claim gold for Team Liquid.

Carlsen secured victory with a commanding scoreline of 4 wins, 2 draws, and 1 loss, clearly showcasing the skill gap between world No. 3 Blitz player Firouzja (2856) and world No. 1 Carlsen (2937).

Along with the title, Carlsen earned $250,000 and 1,000 Club Championship points, giving Team Liquid a major boost in the Club Championship standings and marking one of the largest chess prize wins in recent years.

Exp. 6 August – Hiroshima Day

Hiroshima Day is observed on 6th August every year to mark the anniversary of the atomic bombing of Hiroshima by the United States in 1945 during World War II.

On this day, a uranium bomb code-named “Little Boy” was dropped by the US B-29 bomber “Enola Gay”, instantly killing over 70,000 people and causing long-term suffering due to radiation.

The bombing of Hiroshima was followed by the bombing of Nagasaki on 9th August, leading to Japan’s surrender and the eventual end of World War II.

Hiroshima Day serves as a global symbol of peace, reminding the world of the catastrophic consequences of nuclear warfare and urging nations to promote nuclear disarmament.