Daily Current Affairs - 8th October 2025
- TPP
- Oct 8
- 14 min read
Preparing for UPSC 2026 or State PCS? This 8th October 2025 Current Affairs edition consolidates exam-relevant updates with GS linkages, Prelims facts, and Mains insights—spanning economy, environment, governance, and science & technology.
Key highlights include the 2025 Nobel Prize in Physics for demonstrating macroscopic quantum behaviour, the Ministry of Finance’s launch of the Foreign Currency Settlement System (FCSS) at GIFT IFSC, and NPCI’s new digital payment innovations unveiled at the Global Fintech Festival 2025.
In governance and economy, the RBI’s Ombudsman Scheme extension to Co-operative Banks, the PM Surya Ghar Muft Bijli Yojana’s milestone progress, and CBIC’s auto-approval mechanism for IFSC registration mark major institutional reforms.
Environmental and biodiversity updates feature the Supreme Court’s verdict on wetland protection, and Tamil Nadu’s conservation push for lesser-known endangered species.
Global and defence developments include India’s participation in Interpol’s Operation HAECHI-VI, China’s launch of the Polar Silk Route, the 7th Moscow Format on Afghanistan, the direct imaging of protoplanet WISPIT 2b, and the commissioning of INS Androth into the Indian Navy.
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2025 Nobel Prize in Physics |
The 2025 Nobel Prize in Physics has been awarded to three US scientists: John Clarke, Michel Devoret, and John Martinis.
They have been recognised for demonstrating quantum properties at a macroscopic (human) scale.
This discovery answers a fundamental question in physics: "What is the maximum size of a system that can exhibit quantum behaviour?"
Background of the Research
For a long time, quantum effects were believed to be limited to atomic and sub-atomic scales.
However, about 40 years ago, these scientists showed that quantum mechanics could be observed in systems large enough to be held in the hand.
Their experiments successfully demonstrated quantum tunnelling and energy quantisation at the macroscopic level.
Understanding the Quantum Concepts
Quantum mechanics is the branch of physics that explains the behaviour of extremely small particles, such as electrons and photons.
It describes how these particles exhibit both wave-like and particle-like properties, known as wave-particle duality.
Quantum tunnelling is a phenomenon where a particle passes through a physical barrier that it classically shouldn't be able to.
In classical physics, a particle cannot cross a barrier higher than its energy.
In quantum mechanics, the particle can still pass through due to tunnelling.
The Experiment: Josephson Junction
The scientists used an electric circuit built with two superconducting components.
These components were separated by a thin non-conductive layer, forming a structure called a Josephson junction.
A Josephson junction is a quantum device where supercurrents can tunnel through an insulating barrier.
This setup allowed the system to display quantum tunnelling at a macroscopic scale.
The system also became quantised, meaning it could absorb or emit only discrete (fixed) energy levels.
Energy quantisation is a hallmark of quantum systems and confirms the presence of quantum behaviour.
Significance and Impact
This research is crucial for the development of quantum computers, which use quantum bits (qubits) to perform complex calculations.
It also contributes to advancements in quantum sensors, which can detect extremely small changes in physical quantities.
The findings support the development of next-generation transistors for high-performance computer microchips.
Ministry of Finance launches Foreign Currency Settlement System (FCSS) at GIFT IFSC |
The Ministry of Finance has launched the Foreign Currency Settlement System (FCSS) at GIFT International Financial Services Centre (IFSC).
With this launch, GIFT IFSC joins a select group of global financial centres like Hong Kong and Tokyo.
These centres have infrastructure to settle foreign currency transactions locally, without routing through external banking networks.
About Foreign Currency Settlement System (FCSS)
The FCSS is a payment system specifically designed for foreign currency transaction settlement.
It is authorised by the International Financial Services Centres Authority (IFSCA).
The authorisation is granted under the Payment and Settlement Systems Act, 2007.
The main objective of FCSS is to enable local settlement of foreign currency transactions between IFSC Banking Units (IBUs).
IBUs are banking entities permitted to operate in IFSC for international financial operations.
This eliminates the need to use the traditional correspondent banking route for settlement.
In the traditional method, foreign currency transactions pass through multiple intermediary banks, often located in different countries.
This traditional process typically takes 36 to 48 hours to settle a transaction.
In contrast, FCSS allows real-time or near real-time settlement of foreign currency transactions.
This significantly reduces settlement time and enhances overall efficiency.
Initially, the system will handle transactions in US Dollar (USD).
Over time, the scope will be expanded to include other foreign currencies.
The operator of the FCSS is CCIL IFSC Limited.
CCIL IFSC is a subsidiary of the Clearing Corporation of India Limited (CCIL).
CCIL is a central counterparty that provides clearing and settlement services for financial market trades.
About GIFT City and IFSCA
GIFT City is located in Gujarat and is India’s first operational smart city.
It hosts the country’s first and only International Financial Services Centre (IFSC).
The GIFT IFSC enables both onshore and offshore financial services within India.
It aims to facilitate cross-border financial products and services.
It also provides a competitive tax environment to attract global financial institutions.
The International Financial Services Centres Authority (IFSCA) was established in 2020.
It was created under the International Financial Services Centres Authority Act, 2019.
IFSCA is the unified regulator for financial products, services, and institutions in India’s IFSCs.
It is headquartered at GIFT City, Gujarat.
NPCI launches New Digital Payment Initiatives at Global Fintech Festival (GFF) 2025 |
At the Global Fintech Festival (GFF) 2025, the National Payments Corporation of India (NPCI) launched several new digital payment initiatives.
These initiatives aim to promote seamless digital transactions and foster Fintech innovation in India.
Key Initiatives Launched by NPCI
NPCI Tech Solutions Limited (NTSL) has been launched as a new subsidiary of NPCI.
NTSL is designed to drive innovation in the Fintech sector by providing scalable technology solutions.
UPI Multi-Signatory feature has been introduced to support joint account payments on UPI.
It allows one or more authorised signatories to approve a UPI transaction from a joint account.
This feature will help Corporates, MSMEs, and Startups streamline business-related payments through UPI.
Forex on Bharat Connect has been launched by linking the FX Retail Platform with the Bharat Connect (BBPS) platform.
Bharat Connect, formerly known as Bharat BillPay, is a bill payment system that allows consumers to pay recurring bills.
This linkage enables retail customers to access and purchase foreign currency through regular banking or payment apps integrated with Bharat Connect.
Cash Withdrawal through Micro ATMs using UPI has been introduced to simplify access to cash.
This feature enables customers to withdraw cash at UPI Cash Points, such as Business Correspondents (BCs).
Business Correspondents are retail agents engaged by banks to provide banking services in underserved areas.
About NPCI (National Payments Corporation of India)
NPCI is a not-for-profit company set up under the Payment and Settlement Systems Act, 2007.
It was established by the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA).
NPCI functions as the umbrella organisation for retail payments and settlement systems in India.
Its objective is to develop and manage efficient and secure payment infrastructure across the country.
Major initiatives of NPCI include the RuPay Payment System, which connects all ATMs and facilitates domestic card payments.
It also operates the Unified Payments Interface (UPI), which enables instant bank-to-bank transfers via mobile apps.
Other services include IMPS (Immediate Payment Service), NETC (National Electronic Toll Collection) using FASTag, and NACH (National Automated Clearing House).
NPCI also manages the Aadhaar Payment Bridge System (APBS), which allows direct benefit transfers to Aadhaar-linked bank accounts.
Central and State Co-operative Banks Brought Under RBI - Integrated Ombudsman Scheme, 2021 |
The Reserve Bank of India (RBI) has brought Central and State Co-operative Banks under the Reserve Bank - Integrated Ombudsman Scheme, 2021 (RB-IOS, 2021).
This decision has been made by RBI under the powers given in Section 35A of the Banking Regulation Act, 1949.
Section 35A empowers RBI to issue directions in the public interest to banks for proper management and regulation.
About Reserve Bank - Integrated Ombudsman Scheme, 2021 (RB-IOS, 2021)
The objective of the scheme is to provide customers of regulated entities (REs) with a speedy, cost-effective, and expeditious alternative grievance redress mechanism.
Regulated entities (REs) refer to institutions like banks, NBFCs, and others that are regulated by the RBI.
Entities Covered Under RB-IOS (before the new inclusion)
The scheme originally covered all Commercial Banks in India.
It included all Regional Rural Banks (RRBs).
It covered Scheduled Primary (Urban) Co-operative Banks.
It also included Non-Scheduled Primary (Urban) Co-operative Banks that have a deposit size of ₹50 crore or more.
All Non-Banking Financial Companies (NBFCs) that are either authorised to accept deposits or have customer interface, with assets of ₹100 crore or more, were included.
Housing Finance Companies (HFCs) were excluded from this coverage.
The scheme also applied to all System Participants.
System Participants include both System Providers and those who participate in payment systems, as per the Payment and Settlement Systems Act, 2007.
It also covered Credit Information Companies, which collect and maintain individual credit records.
Integration of Previous Ombudsman Schemes
RB-IOS 2021 merged the previously separate grievance redress schemes into one unified system.
It integrated the Banking Ombudsman Scheme, 2006.
It merged the Ombudsman Scheme for NBFCs, 2018.
It also absorbed the Ombudsman Scheme for Digital Transactions, 2019.
This integration followed the "One Nation One Ombudsman" approach.
This means the grievance redress mechanism became jurisdiction-neutral, i.e., not limited by geographical boundaries.
Powers and Compensation under RB-IOS, 2021
Under the scheme, the Ombudsman has the authority to award compensation up to ₹20 lakh to a complainant.
Additionally, the Ombudsman can award up to ₹1 lakh as compensation for the complainant’s time, expenses, and mental distress or harassment.
PM Surya Ghar Muft Bijli Yojana – Major Update on Implementation |
Public Sector Banks (PSBs) have sanctioned over 5 lakh loan applications under the PM Surya Ghar Muft Bijli Yojana.
The total value of these sanctioned loans is approximately ₹10,907 crore.
About PM Surya Ghar Muft Bijli Yojana
The aim of the scheme is to provide up to 300 units of free electricity per month to 1 crore households in India.
This is achieved through the installation of subsidized rooftop solar panels on residential buildings.
The scheme is implemented by the Ministry of New and Renewable Energy (MNRE).
It represents the world’s largest domestic rooftop solar initiative.
Subsidies are provided to individual residential households and also to Group Housing Societies (GHS) and Resident Welfare Associations (RWA).
For special category states (e.g., northeastern states, hill states), there is an additional 10% subsidy per kilowatt (kW) of solar capacity.
A special category state refers to states given preferential treatment due to geographical, economic, or strategic reasons.
Tamil Nadu sanctions Rs 1 crore for conservation of four lesser-known endangered species |
These include the lion-tailed macaque, Madras hedgehog, striped hyaena, and hump-headed mahseer fish.
The move builds on Tamil Nadu’s recent conservation milestones, including the Dugong Conservation Reserve in Palk Bay, the Kadavur Slender Loris Sanctuary, and Project Nilgiri Tahr.
It alsoaligns with the Kunming-Montreal Global Biodiversity Framework’s 30×30 goals.
Details of Species
Particulars | Lion-tailed macaque | Madras or Bare-Bellied Hedgehog | Striped Hyaena | Hump-headed mahseer fish |
IUCN Status | Endangered | Least Concern | Near Threatened | Critically Endangered |
CITES Listing | Appendix I | Not listed | Appendix III | Not listed |
WPA Status | Schedule I and IV | Schedule II | Schedule I and IV | Not explicitly listed |
Endemic Region | Western Ghats (Tamil Nadu, Kerala, Karnataka) | India | Afghanistan; Algeria; Pakistan, India etc | India (Tamil Nadu, Kerala, Karnataka) |
Threats | Extensive agriculture, Urbanization and Mining | Illegal pet trade, Logging & wood harvesting etc. | persecution (especially poisoning), decreasing natural and domestic sources of carrion due to declines in other large carnivores. | Dams, destructive fishing, invasive species etc. |
Other Key information | Survives in fragmented rainforest patches. | Known locally as the ‘thorny rat’, Nocturnal species found in the semi-arid regions | A natural scavenger that regulates diseases, is witnessing a sharp decline across the Mudumalai Tiger Reserve. | Called the Tiger of Kaveri for the fight it puts up. |
Supreme Court Ruling on Legal Protection of Wetlands in India |
The Supreme Court of India has recently declined to classify Futala Lake in Nagpur as a wetland under the Wetlands (Conservation and Management) Rules, 2017.
The Court reasoned that Futala Lake is a man-made waterbody constructed for irrigation purposes.
Key Points from the Judgement
The Court referred to the definition of 'wetland' under the 2017 Rules, which explicitly excludes human-made waterbodies built for certain purposes.
As per the Rules, man-made waterbodies created for irrigation, aquaculture, salt production, or recreation are not considered wetlands under legal protection.
Additionally, the Rules also exclude river channels and paddy fields from the wetland definition.
The definition also does not cover wetlands falling under specific legal regimes such as:
Areas governed by the Indian Forest Act, 1927.
Areas protected under the Wildlife (Protection) Act, 1972.
Areas regulated by the Coastal Regulation Zone (CRZ) Notification, 2011.
Environmental Protection Beyond Wetlands Rules
Despite exclusion from the 2017 Rules, the Court emphasized that such waterbodies still require protection.
They must be safeguarded under the Public Trust Doctrine and Article 21 of the Constitution.
The Public Trust Doctrine is a legal principle stating that natural resources like water, air, and forests are held by the state in trust for the public.
This doctrine places a duty on the state to protect and preserve such resources for current and future generations.
Article 21 of the Indian Constitution guarantees the Right to Life, which includes the Right to a Healthy Environment as interpreted by Indian courts.
CBIC Introduces System-Based Auto-Approval for IFSC Registration |
The Central Board of Indirect Taxes and Customs (CBIC) has launched a system-based auto-approval mechanism for IFSC registration.
This step is aimed at enhancing the ease of doing business and reducing procedural delays for stakeholders.
About Indian Financial System Code (IFSC)
The IFSC is an 11-digit alphanumeric code that is unique to every bank branch.
It is assigned by the Reserve Bank of India (RBI) to identify each bank branch participating in online transactions.
The IFSC is used for transactions denominated in Indian Rupees (INR).
It ensures that electronic payments such as NEFT (National Electronic Funds Transfer) are routed accurately to the intended recipient.
NEFT is a nation-wide payment system that enables one-to-one funds transfer from one bank account to another.
In contrast, SWIFT Code is used for international fund transfers.
SWIFT stands for Society for Worldwide Interbank Financial Telecommunication, and it enables secure messaging between banks globally.
About CBIC (Central Board of Indirect Taxes and Customs)
The CBIC is part of the Department of Revenue under the Ministry of Finance, Government of India.
It was originally known as the Central Board of Excise & Customs.
The Board was established in 1964 and was renamed as CBIC in 2018.
CBIC is responsible for formulation and implementation of policies related to indirect taxes in India.
Its responsibilities include the levy and collection of:
Customs duties (taxes on imports/exports),
Central Excise duties (taxes on goods manufactured in India),
Central Goods and Services Tax (CGST), and
Integrated Goods and Services Tax (IGST) (applicable on inter-state and cross-border transactions).
The CBIC also plays a key role in preventing smuggling and ensuring compliance with tax laws across India.
Operation HAECHI-VI – India’s Role in Global Cybercrime Crackdown |
The Central Bureau of Investigation (CBI) has arrested eight key operatives involved in transnational cybercrimes.
These arrests were made as part of Interpol’s Operation HAECHI-VI.
About Operation HAECHI-VI
Operation HAECHI-VI is the sixth iteration in a global series of operations targeting cyber-enabled financial crimes.
The operation is financially supported by the Republic of Korea.
The operation is led by Interpol, the International Criminal Police Organization, which coordinates international police cooperation.
The primary objective of Operation HAECHI-VI is to disrupt illicit financial flows generated by online fraud and cybercrime.
It also aims to apprehend offenders operating across borders.
Another key goal is to enhance international cooperation in fighting cyber-enabled financial crimes.
Types of Crimes Targeted Under HAECHI-VI
The operation focuses on five major categories of online financial fraud.
Investment fraud – where victims are lured into fake or high-return investment schemes.
Romance scams – where criminals exploit emotional connections online to extract money.
Money laundering linked to illegal online gambling – where unlawful gambling funds are moved across systems to disguise their source.
Online sextortion – which involves threats to release explicit images or videos unless money is paid.
Voice phishing (vishing) – where fraudsters use phone calls to deceive individuals into sharing personal or financial information.
China Launches the Polar Silk Route via Arctic Ocean |
A Chinese cargo ship has departed from the Ningbo-Zhoushan Port, initiating a journey through the Arctic Ocean along the Russian coast.
This voyage marks the operational launch of China's Polar Silk Route initiative.
About the Polar Silk Road (Polar Silk Route)
The Polar Silk Road is a strategic initiative launched by China.
It was officially introduced in 2018 through China's first Arctic Policy White Paper.
The route comprises navigable Arctic sea lanes that connect East Asia, North America, and Western Europe.
These Arctic sea routes are shorter and more cost-effective than traditional routes through the Suez Canal or Indian Ocean.
The key objective of the Polar Silk Road is to develop a "blue economic corridor" in the Arctic region.
A blue economic corridor refers to a maritime trade route that promotes sustainable use of ocean resources for economic growth and connectivity.
Strategic Aims of the Polar Silk Route
The initiative seeks to strengthen cooperation with Arctic states.
Areas of cooperation include navigation, environmental protection, clean energy, and scientific research.
It supports China’s broader Belt and Road Initiative (BRI) by expanding its scope into the Arctic region.
The Polar Silk Road also enhances China's geostrategic presence in global maritime trade.
Moscow Format on Afghanistan – 7th Meeting Highlights |
The 7th meeting of the Moscow Format was recently held to discuss the ongoing situation in Afghanistan.
For the first time, Taliban officials attended as formal participants in the dialogue.
This marks a significant shift in the diplomatic engagement with the Taliban by regional stakeholders.
About the Moscow Format
The Moscow Format was established in 2017 as a regional consultative platform.
Its main objective is to promote peace, stability, and facilitate national reconciliation in war-torn Afghanistan.
National reconciliation refers to efforts to bring together different political, ethnic, or armed groups within a country after conflict.
The platform enables regional dialogue among neighbouring and concerned countries on the Afghan peace process.
Member countries of the Moscow Format include India, Afghanistan, China, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan, and Uzbekistan.
These members work together to coordinate regional responses and enhance stability in Afghanistan.
Astronomers Directly Image Protoplanet WISPIT 2b in Formation |
Astronomers have directly imaged WISPIT 2b, a protoplanet actively forming inside the protoplanetary disk of its host star, WISPIT 2.
A protoplanetary disk is a flattened, rotating disk of gas and dust surrounding a young, newly formed star.
It is from this disk that planets are born through accumulation of material.
A protoplanet is an astronomical object that is in the process of gathering material and growing into a fully-formed planet.
About WISPIT 2b
WISPIT 2b is classified as a gas giant, with a mass about five times that of Jupiter.
It is an extremely young planet, estimated to be only 5 million years old.
This discovery is significant because it provides the first direct evidence that the gaps observed in protoplanetary disks are created by the gravitational pull of forming planets.
The name WISPIT 2b comes from the research programme called ‘WIde Separation Planets In Time’ (WISPIT), which focuses on detecting young, widely separated planets.
Indian Navy Commissions INS Androth at Visakhapatnam |
The Indian Navy has commissioned INS Androth at the Naval Dockyard, Visakhapatnam.
About INS Androth
INS Androth is the second Anti-Submarine Warfare Shallow Water Craft (ASW-SWC) commissioned after INS Arnala.
Anti-Submarine Warfare Shallow Water Craft (ASW-SWC) are specialized vessels designed to detect and neutralize submarines operating in coastal and shallow waters.
INS Androth is part of a series of 8 ASW-SWCs being constructed by Garden Reach Shipbuilders and Engineers Ltd. (GRSE), based in Kolkata.
The ship is named after Androth, which is the northernmost island of the Lakshadweep group.
The vessel has multiple capabilities including maritime surveillance, search and rescue (SAR) operations, coastal and anti-submarine defence missions, and Low Intensity Maritime Operations (LIMO).
Low Intensity Maritime Operations (LIMO) refer to naval tasks that involve non-warfare missions such as anti-piracy, humanitarian assistance, and maritime law enforcement.
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