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Daily Current Affairs 4th September 2025 Daily GK Update
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National News
Cabinet approves ₹1,500 crore scheme under NCMM to boost recycling of critical minerals
- The Union Cabinet, chaired by PM Narendra Modi, approved a ₹1,500 crore incentive scheme under the National Critical Mineral Mission (NCMM) to boost recycling capacity for critical minerals.
- The scheme will run for six years (FY 2025–26 to FY 2030–31), covering e-waste, lithium-ion battery scrap, and catalytic converters recycling.
- Incentives include a 20% capital subsidy on plant & machinery and operating subsidies (40% in the 2nd year and 60% in the 5th year) based on incremental sales.
- Out of the total outlay, one-third has been earmarked for start-ups and smaller players, with subsidy caps of ₹50 crore for large entities and ₹25 crore for small entities.
- The scheme aims to create 270 kilo tonnes recycling capacity, produce 40 kilo tonnes of critical minerals annually, attract ₹8,000 crore investments, and generate 70,000 jobs.
BHARATI to Support 100 Agri-Food Startups, Target $50 Billion Exports by 2030
- The Agricultural and Processed Food Products Export Development Authority (APEDA) launched its new initiative, BHARATI, to boost India’s agri-food exports.
- BHARATI has been designed to support 100 agri-food startups, promote innovation and boost exports to 50 billion dollars by 2030.
- BHARATI stands for Bharat’s Hub for Agritech, Resilience, Advancement and Incubation for Export Enablement. Aligned with the government’s vision of Atmanirbhar Bharat and Startup India, APEDA aims to accelerate export, foster innovation and strengthen India’s position in global agri-food trade.
PM Modi launches Bihar Rajya Jeevika Nidhi to empower rural women with affordable financial support
- PM Narendra Modi virtually launched Bihar Rajya Jeevika Nidhi Saakh Sahkari Sangh Limited, aimed at providing easy access to funds at affordable interest rates for Jeevika community members.
- All registered cluster-level federations of Jeevika will become members of this cooperative society, with financial contributions from both the Bihar government and the Central government.
- The Prime Minister transferred ₹105 crore into the institution’s bank account to support its functioning and provide immediate financial aid.
- The scheme will empower rural women entrepreneurs, helping them access funds easily, grow their businesses, and contribute to India’s development.
Tamil Nadu secures 23 more deals in Germany worth more than ₹3,800 crore
- Tamil Nadu signed 23 agreements with various companies in Düsseldorf, Germany, securing ₹3,819 crore investments and the potential to create 9,070 jobs, as part of the Tamil Nadu Rising Germany Investment Conclave attended by CM M.K. Stalin.
- Including three earlier deals (Knorr-Bremse, Nordex Group, and ebm-papst), total German investments during Stalin’s visit reached ₹7,020 crore, expected to generate 15,320 jobs.
- Major commitments include Vensys Energy (₹1,068 crore; 5,238 jobs), BASF (₹300 crore; 100 jobs), BellaPremier Happy Hygiene (₹300 crore; 200 jobs), Herrenknecht India (₹250 crore; 400 jobs), Puls (₹200 crore; 500 jobs), Witzenmann India (₹200 crore; 450 jobs), and MASH Energy (₹200 crore; 200 jobs).
- Guidance Tamil Nadu signed an agreement with Next Mittelstand (Ausbildung) to implement Germany’s dual vocational training model, which will train 20,000 youth in global skills over a decade, starting with 120 students.
PRYMA Aerospace’s Arjuna drone gets DGCA certification for agriculture
- PRYMA Aerospace’s Arjuna drone certified by Directorate General of Civil Aviation (DGCA) for agriculture use, marking a major step in India’s indigenous drone technology development and deployment.
- The certification follows DGCA’s earlier approval of PRYM Group’s Drone School of Excellence as a Remote Pilot Training Organisation (RPTO), creating India’s first end-to-end pathway for drone manufacturing, training, and nationwide deployment via Salam Kisan.
- Maharashtra Chief Minister (CM) Devendra Fadnavis presented the certificate; earlier this year, PRYM Group also signed a ₹300 crore Memorandum of Understanding (MoU) with the state government at the World Economic Forum (WEF) in Davos to promote drone adoption and skill development.
International News
Sharjah to host 18th Inclusion International World Congress 2025
- Sharjah will host the 18th Inclusion International World Congress 2025 from September 15–17 at Expo Centre, marking the first time the event will be held in the MENA region, with participants from over 70 countries.
- The congress will focus on inclusive education, advocacy, healthcare, legal rights, employment, and community participation, while showcasing the UAE’s progress in building 80+ specialised facilities for persons with disabilities.
- Backed by WHO data, the event aims to tackle global challenges of poverty, discrimination, and reduced life expectancy among persons with disabilities, reaffirming inclusion as key to sustainable development.
Banking & Financial News
IndiaBonds partners with Upstox to boost retail participation in bond investments
- IndiaBonds and Upstox formed a strategic alliance to provide retail investors access to a wide range of bond investment options through Upstox’s brokerage platform.
- With this integration, over 1.3 crore retail investors of Upstox can now invest in bonds, enhancing retail participation in the Indian bond market.
- All transactions will be executed on IndiaBonds in compliance with SEBI’s Online Bond Platform Provider norms, ensuring transparency and regulatory adherence.
SBI raises $500 million via dollar bonds at record-tight spreads after India’s S&P rating upgrade
- State Bank of India (SBI) raised $500 million through five-year dollar bonds from international investors at the tightest-ever spread of T+75 bps over US Treasuries, following India’s sovereign rating upgrade by S&P from BBB- to BBB.
- The bond issue carries a coupon rate of 4.5%, tighter than the T+82 bps spread at which SBI had raised $500 million in November 2024.
- SBI successfully compressed spreads by 30 bps from the initial guidance of T+105 bps, with the issuance order book crossing $1.1 billion across 85 accounts.
- The bonds are expected to carry ratings of ‘BBB’ from S&P and ‘BBB-’ from Fitch, highlighting investor confidence after India’s recent sovereign rating upgrade.
Suryoday Small Finance Bank launches two FD-backed RuPay credit cards to boost financial inclusion
- Suryoday Small Finance Bank launched two FD-backed secured credit cards – RuPay Select and RuPay Platinum – offering 0.5% cashback on all transactions with lifetime free benefits.
- The cards require minimum fixed deposits of ₹1,000 (Platinum) and ₹1,11,500 (Select), with deposit interest up to 8.40%, and provide instant virtual issuance with UPI integration.
- Targeted at first-time users and low-income households, the move aims to bridge India’s low credit card penetration (111 million cards for 1.4 billion population) by enabling access without conventional income proof.
GST Council Slashes Rates, Exempts Insurance & Life-Saving Drugs; Retains Only 5% and 18% Slabs
- The GST Council in its 56th meeting, chaired by Finance Minister Nirmala Sitharaman, approved rate rationalisation with focus on the common man, farmers, agriculture, health, and labour-intensive industries.
- GST on insurance policies (life, health, ULIP, endowment, family floater, senior citizens) and reinsurance has been made exempt, aiming to make insurance more affordable.
- Life-saving drugs and medicines: GST cut from 12% to NIL on 33 drugs, from 5% to NIL on 3 cancer/rare disease drugs, and from 12% to 5% on other medicines; GST on medical devices reduced from 18% to 5%.
- Daily-use household and food items such as toilet soap, shampoos, toothpaste, bicycles, paneer, breads, milk, namkeen, noodles, chocolates, coffee, butter, ghee will now attract only 5% or NIL GST.
- The Council also scrapped 12% and 28% GST slabs, retaining only 5% and 18%, with a fiscal impact of ₹48,000 crore; PM Modi’s vision of next-gen tax reforms guided the decisions.
Appointments
Rajit Punhani takes charge as CEO of FSSAI
- Rajit Punhani, a 1991-batch IAS officer of the Bihar cadre, has been appointed as the new CEO of the Food Safety and Standards Authority of India (FSSAI). He replaced GKV Rao.
- He has previously served as Secretary, Ministry of Skill Development and Entrepreneurship, Secretary, Rajya Sabha, CEO of Sansad TV, and Principal Secretary in Bihar Government.
- His appointment comes as the Supreme Court directed the Centre to implement updated food labelling regulations, ensuring packaged foods display key nutritional information like sugar, salt, and fat content.
Recent Appointments
- Chairman of the Audit Bureau of Circulations (ABC) for 2025-26 – Karunesh Bajaj
- Controller General of Accounts (CGA) – C. A. Kalyani (29th officer)
- Chairman of Press Trust of India’s (PTI) Board – Mahendra Mohan Gupta (replace K.N. Shanth Kumar)
- Vice-Chairman of the PTI Board – M.V. Shreyams Kumar
- Head of Newly Formed AI and Services Transformation Unit by TCS – Amit Kapur
Dr. Deepak Mittal Appointed as India’s New Ambassador to the UAE
- The Ministry of External Affairs has appointed Deepak Mittal (1998-batch IFS officer) as India’s next Ambassador to the United Arab Emirates, succeeding Sunjay Sudhir who retires in September.
- Mittal has earlier served as Ambassador to Qatar (2020–22), worked twice in the Prime Minister’s Office, and played a key role in India’s first formal diplomatic contact with the Taliban.
- The UAE is a key strategic partner for India, being a major energy supplier and home to over 3.5 million Indians; PM Modi has visited the UAE seven times since 2015, including inaugurating the BAPS Hindu Mandir in Abu Dhabi (Feb 2024).
Recent Appointments in Foreign
- S. Ambassador to India – Close Aide Sergio Gor
- India Ambassador to Canada – Dinesh K. Patnaik
- India Ambassador to Sweden – Anurag Bhushan
- India Ambassador to France – Sanjeev Kumar Singla
Sports
Pakistan’s Asif Ali announces retirement from international cricket
- Pakistan middle-order batter Asif Ali announced his retirement from international cricket.
- Since his debut in 2018, he played 21 ODIs and 58 T20Is, scoring a total of 959 runs in white-ball formats.
- Asif Ali called wearing the Pakistan jersey the greatest honour of his life and said serving his country on the cricket field was his proudest chapter.
Recently Retired Players
- Mitchell Starc (Australia) – T20Is cricket
- Ravichandran Ashwin (India) – Indian Premier League
- Cheteshwar Pujara (India) – All forms of cricket
- Veda Krishnamurthy (India) – International Cricket
- Andre Russell (West Indies) – International Cricket
- B Sumeeth Reddy (India) – Badminton
Defence
India–Thailand Joint Military Exercise MAITREE-XIV begins in Meghalaya to boost defence cooperation
- The 14th edition of India-Thailand Joint Military Exercise MAITREE-XIV began at the Joint Training Node (JTN), Umroi, Meghalaya, from 1st to 14th September 2025.
- The exercise is part of the military-to-military exchange programme, aimed at enhancing cooperation, interoperability, and mutual understanding between the Indian Army and the Royal Thai Army.
- The Indian Army contingent of 120 personnel is represented by a Battalion of the Madras Regiment, while the Royal Thai Army contingent of 53 personnel is represented by the 1st Infantry Battalion, 14th Infantry Brigade.
- Exercise Maitree, started in 2006, is one of the key joint training exercises between India and Thailand, with the 13th edition held in Tak Province, Thailand.
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