UPSC Current Affairs
Govt waives bank charges on small UPI and RuPay transactions
9 stories · about 4 min read · quiz and Mains question at the end
Govt waives bank charges on small UPI and RuPay transactions
The Union government has notified changes under the Payment and Settlement Systems Act, 2007, barring banks from levying charges on payments up to 2,000 rupees processed via Unified Payments Interface (UPI) and RuPay-powered debit cards. The move aims to preserve micro-transaction volume and encourage digital financial inclusion across semi-urban and rural areas. Financial institutions had previously sought transaction fees to recover infrastructure maintenance costs.
India expedites power exports to flood-hit Nepal
The Ministry of Power has approved expedited electricity exports to Nepal to assist the neighbouring country in meeting its power shortages following devastating flood damage. The approval enables rapid grid synchronization and energy flow through cross-border transmission corridors. Officials noted that this step reinforces India's Neighbourhood First policy and deepens bilateral cross-border energy cooperation.
BRICS prioritizes cross-border payment mechanisms over common currency
During the 18th BRICS Summit economic track negotiations, member nations focused on interconnecting national payment systems rather than creating a unified common currency. Discussions highlighted the practical complexities and macroeconomic divergence among member states that make a shared currency difficult in the near term. The focus remains on promoting local currency settlement and building inter-operable financial message networks.
Underwater survey ordered for sunken cargo ship off Kerala coast
The Centre informed the Kerala High Court that an extensive underwater survey will be conducted to assess long-term ecological and coastal damage caused by the sinking of the Liberian-flagged vessel MSC Elsa 3. The ship sank off the coast of Alappuzha, triggering concerns regarding marine habitat degradation and chemical leaks along the coastline of Kerala and Tamil Nadu. The survey report will inform remediation and compensation frameworks.
Wholesale Price Index inflation rises to 9.92% in August
Wholesale Price Index (WPI) based inflation accelerated to 9.92% in August, driven by a broad-based rise in prices across primary food articles, energy inputs, and manufactured items. Manufactured products recorded a series high inflation rate of 8.37%, reflecting rising global input costs and supply disruptions. The sharp WPI spike signals persistent cost-push pressure on retail prices and industrial operating margins.
France proposes social media restrictions for children under 15
France has introduced a legislative proposal to restrict access to social media platforms for children under 15 years of age. French leadership has also advocated for similar child online safety standards across the European Union to mitigate mental health risks, cyberbullying, and digital addiction among adolescents. The proposal highlights growing global consensus on regulatory oversight for big technology platforms.
Evaluating evidence gaps and outcomes in unconditional cash transfer schemes
Policy experts have highlighted a growing evidence gap in welfare governance, noting that governments frequently launch direct benefit transfer schemes without publishing outcome monitoring models. While cash transfers are framed around goals like dignity and social empowerment, lack of periodic field evaluation obscures their long-term impact on poverty reduction and human capital creation. Analysts call for structured social audits to validate public spending efficiency.
Dedicated worker housing ecosystem expands across industrial corridors
A specialized service industry offering managed residential housing for industrial workers is emerging across major manufacturing hubs, including Sriperumbudur. While large employers traditionally relied on in-house housing or unorganized private rentals, structured third-party accommodation seeks to offer improved living conditions and essential services. Experts emphasize that affordable worker housing directly enhances labor productivity and industrial growth.
ICMR-NIN study highlights combined diet and exercise approach for health
A study conducted by the Indian Council of Medical Research - National Institute of Nutrition (ICMR-NIN) has demonstrated that combining dietary modification with structured physical exercise yields the most effective and sustainable results for weight loss and metabolic health. The findings caution against relying solely on restrictive diets or isolated fitness routines. Public health experts recommend incorporating these dual-lifestyle interventions into national non-communicable disease prevention strategies.
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