Daily Current Affairs – 04-10-2025
Economy News
RBI Recognises FIDC as Self-Regulatory Organisation for NBFC Sector
In a key move to strengthen governance within the non-banking financial companies (NBFC) sector, the Reserve Bank of India (RBI) has officially recognised the Finance Industry Development Council (FIDC) as a Self-Regulatory Organisation (SRO).
The RBI had invited applications for SRO recognition in June last year, aiming to enhance accountability and standardisation across the NBFC industry. Out of the three applications received, FIDC was granted SRO status after a detailed evaluation. The other two applications were found incomplete and were not considered for review.
This recognition will enable FIDC to play a pivotal role in ensuring ethical practices, compliance, and sector-wide discipline among NBFCs, aligning with RBI’s broader goal of promoting a robust and transparent financial ecosystem.
RBI Unveils Draft ECB Norms to Simplify Overseas Fund-Raising for Indian Companies
The Reserve Bank of India (RBI) has released a draft framework for External Commercial Borrowings (ECB) to make it easier for Indian companies to raise funds from overseas markets.
The new draft norms aim to liberalize borrowing limits, link borrowing capacity with financial strength, and ensure that interest rates are market-determined, rather than capped.
Under the proposal, firms will now be allowed to raise up to USD 1 billion or 300% of their net worth—whichever is higher—under the automatic route, without prior RBI approval. This is a major change from the earlier limit of USD 750 million.
The minimum average maturity period (MAMP) for such borrowings will be three years. However, borrowers in the manufacturing sector can raise ECBs with a shorter maturity of 1–3 years, provided the total outstanding does not exceed USD 50 million. Call and put options cannot be exercised before the completion of the maturity period.
The RBI also proposed to remove the interest rate ceiling, allowing borrowing costs to align with prevailing market rates, replacing the earlier restriction of global benchmark + 450 basis points (bps).
According to experts, this marks a shift from a rigid, one-size-fits-all approach to a flexible and market-driven regime. The move will help Indian corporates access global capital at competitive rates and enhance funding options.
The RBI has invited public feedback on the draft till October 24, 2025.
Additionally, borrowers under corporate insolvency or restructuring processes may also raise ECBs if allowed under their respective resolution plans. Those under investigation by enforcement agencies will also be permitted to raise funds, despite pending cases.
Instant Cheque Clearance System Comes into Effect from Today
From October 4, cheque transactions in India will become faster and more secure as banks roll out the instant cheque clearance system, ensuring funds are credited to customers’ accounts within a few hours of deposit.
The Reserve Bank of India (RBI), in collaboration with its subsidiary NPCI and select UPI-enabled private banks, has introduced this system to make cheque payments quicker and safer.
Under the new mechanism, cheques submitted to banks will be processed on the same day, eliminating the waiting period for clearance. This move aims to enhance efficiency in banking transactions and strengthen customer confidence.
To ensure security, the RBI has directed banks to implement biometric verification (PC Face) and adopt strict validation of cheque details. Customers issuing cheques above ₹50,000 must inform their banks at least 24 hours in advance, providing details such as cheque number, date, amount, and payee’s name.
Banks will verify these details before processing the cheque. Any mismatch may result in rejection of the cheque. For additional security, customers are also required to email cheque details to designated bank addresses, after which banks will confirm receipt before clearing the cheque.
The RBI’s Positive Pay System (PPS) will now be mandatory for cheques above ₹5 lakh, and gradually extended to those above ₹50,000 as well. Cheques verified under PPS will fall under the RBI’s grievance redressal mechanism, offering better protection against fraud.
National News
Centre Removes Ban on De-Oiled Rice Bran Export to Boost Agro Industry
The Central Government has lifted the ban on the export of de-oiled rice bran with immediate effect, bringing relief to rice millers and the solvent extraction industry.
This policy change is expected to benefit farmers by enhancing the processing and export potential of rice bran, which in turn will increase domestic rice bran oil production—a major import substitute for edible oil.
The export ban on de-oiled rice bran had been in force from July 28, 2023, to September 30, 2025, aimed initially at ensuring sufficient domestic availability. However, with stable supplies and improved production, the government has now allowed exports to resume.
Industry experts believe the move will encourage value addition in agro-processing, generate foreign exchange, and support rural employment in the agricultural value chain.
Reports and Indices
One Farmer Commits Suicide Every Hour in India: NCRB Report 2023
According to the National Crime Records Bureau (NCRB), one farmer committed suicide every hour in India during 2023.
The report states that a total of 1,71,418 suicides occurred across the country in 2023. Of these, 10,786 suicides (6.3%) were among those engaged in agriculture — including 4,390 farmers and 6,396 agricultural labourers. Among the farmers who died by suicide, 4,390 were men and 137 were women.
Maharashtra recorded the highest number of farmer suicides, accounting for 38.5% of the total. It was followed by Karnataka (22.5%), Andhra Pradesh (8.6%), Madhya Pradesh (7.2%), and Tamil Nadu (5.9%).
When compared to 2022, farmer suicides have shown a slight decrease. In 2022, 11,290 suicides were recorded among agricultural workers, with 5,207 being farmers and 6,083 agricultural labourers. In 2023, this dropped slightly to 10,786 total suicides, including 4,690 farmers and 6,096 agricultural labourers.
No cases of farmer suicides were reported in Assam, Bihar, Haryana, Jharkhand, Odisha, West Bengal, Tripura, Manipur, Mizoram, Nagaland, Arunachal Pradesh, and Union Territories.
Personalities, Awards and Events
Veteran Journalist and Columnist T.J.S. George Passes Away at 97
Renowned journalist, author, and columnist T.J.S. George, known for his sharp insights and fearless independence, passed away in Bengaluru due to age-related complications. He was 97.
A towering figure in Indian English journalism, George held senior editorial roles in India and abroad. Over his long and illustrious career, he earned recognition as a biographer and political commentator, authoring several acclaimed books that shaped the discourse of modern Indian journalism.
His iconic weekly column “Point of View” in The New Indian Express ran for 25 years, ending in June 2022, and was widely respected for its clarity, critique, and intellectual depth.
In recognition of his outstanding contributions to journalism and literature, T.J.S. George received the Padma Bhushan in 2011 and the Rajyotsava Award in 2007.
Sports News
Golden Double for India: Nishad Kumar and Simran Sharma Shine at World Para Athletics Championships
India had a golden day at the World Para Athletics Championships in Paris, as Nishad Kumar and Simran Sharma delivered stellar performances, securing two gold medals for the country.
Nishad Kumar broke his streak of near-misses by winning gold in the T47 High Jump event with a New Asian Record of 2.14m. After finishing runner-up at the Tokyo and Paris Paralympics and the last two World Championships (2023, 2024), Nishad finally clinched his maiden world title. He comfortably cleared all his initial heights and narrowly missed breaking the world record at 2.18m.
In the same event, Turkey’s Abdullah Ilgaz won silver, while three-time Paralympic champion Roderick Townsend II (USA) settled for bronze with 2.00m.
On the track, Simran Sharma successfully defended her 100m T12 title, clocking a personal best time of 11.95 seconds, dipping below the 12-second mark for the first time. Partnering with guide runner Umar Saif, Simran’s victory marked India’s sixth gold and 18th overall medal at the championship.
India’s medal run didn’t stop there. Preethi Pal bagged a bronze in the 200m T35 event with a time of 30.03 seconds, while Pardeep Kumar secured another bronze in the Discus Throw F64 category with a throw of 46.20m.
Meanwhile, Switzerland’s Catherine Debrunner continued her dominance, winning her fifth world gold in the 400m T53 event.
Mirabai Chanu Overcomes Thumb Injury to Win Silver at World Championships
Indian weightlifting star Mirabai Chanu showcased remarkable grit by winning a silver medal in the 48 kg category at the World Weightlifting Championships held in Forde, Norway, despite battling a thumb injury.
The Tokyo Olympics silver medallist lifted 84 kg in snatch and 115 kg in clean and jerk, recording a total of 199 kg to secure her third World Championships medal. She ranked third in snatch and second in clean and jerk.
North Korea’s Ri Song Gum claimed gold with 213 kg, while Thailand’s Thainyathon Sukcharoen finished third with 198 kg.
This marks Mirabai’s second World Championships silver, her previous one coming in 2022 (49 kg category). She had also won gold in 2017.
Tamil Nadu News
Tamil Nadu Allocates ₹1 Crore for Conservation of Four Endangered Species
In a major step towards biodiversity conservation, the Tamil Nadu government has sanctioned ₹1 crore for the protection of four lesser-known endangered species — the lion-tailed macaque, Madras hedgehog, striped hyena, and hump-headed mahseer.
The allocation, formalized through a Government Order (G.O.) issued on September 29, follows an announcement made by the Minister for Forests and Khadi during the March 2025 Legislative Assembly session.
The initiative aims to extend conservation efforts beyond popular species like elephants and tigers, focusing instead on ecologically significant but neglected species.
🔹 Funds Allocation:
Lion-tailed macaque – ₹48.5 lakh
Madras hedgehog – ₹20.5 lakh
Striped hyena – ₹14 lakh
Hump-headed mahseer – ₹17 lakh
🔹 Key Focus Areas:
The scheme will support habitat improvement, long-term ecological monitoring, baseline data collection, conservation breeding programmes, gene bank creation, and enhanced law enforcement.
For the lion-tailed macaque, the project includes forest connectivity through canopy bridges, awareness campaigns, and training for forest staff.
For the hump-headed mahseer, conservation measures include in situ culture and restocking programmes to revive its declining population in rivers like Moyar.
Officials stated that the project will help create vital baseline data on species populations and habitats, shaping future conservation strategies in Tamil Nadu.