Dear Readers, Daily Current Affairs Questions Quiz for SBI, IBPS, RBI, RRB, SSC Exam 2025 of 07th August 2025. Daily GK quiz online for bank & competitive exam. Here we have given the Daily Current Affairs Quiz based on the previous days Daily Current Affairs updates. Candidates preparing for IBPS, SBI, RBI, RRB, SSC Exam 2025 & other competitive exams can make use of these Current Affairs Quiz.

 

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1) Which bank has partnered with Gro Digital Platforms for FASTag services?

(a) HDFC Bank

(b) ICICI Bank

(c) IDFC First Bank

(d) State Bank of India

(e) Axis Bank

2) What major change has the RBI introduced regarding Special Rupee Vostro Accounts (SRVAs)?

(a) RBI has removed the requirement for prior approval to open SRVAs

(b) RBI now requires additional documentation for SRVAs

(c) RBI has banned SRVAs for foreign banks

(d) RBI has made SRVAs mandatory for all foreign transactions

(e) RBI has increased the minimum balance requirement for SRVAs

3) What is bob FxOne?

(a) A new cryptocurrency exchange

(b) A digital forex platform for corporate and MSME customers

(c) A mobile banking app for retail customers

(d) A wealth management service

(e) A loan processing portal

4) What was the HSBC India Services Purchasing Managers’ Index (PMI) reading for July 2025?

(a) 59.8

(b) 60.4

(c) 60.1

(d) 61.2

(e) 60.5

5) How much tax was collected from Virtual Digital Assets (VDA) transactions during FY 2022-23 and FY 2023-24?

(a) ₹500 crore

(b) ₹630 crore

(c) ₹705 crore

(d) ₹1,000 crore

(e) ₹1,335 crore

6) What was the approximate size of the RBI's USD/INR buy/sell swap operation?

(a) $2 billion

(b) $3 billion

(c) $4 billion

(d) $5 billion

(e) $10 billion

7) The Insurance Regulatory and Development Authority of India (IRDAI) imposed a ₹5 crore penalty on Policybazaar Insurance Brokers. Under which section of the Insurance Act was the penalty imposed?

(a) Section 45

(b) Section 64VB

(c) Section 98

(d) Section 102

(e) Section 149

8) Where is the WHO-International Regulatory Cooperation for Herbal Medicines (IRCH) Herbal Medicines Workshop being held in India?

(a) New Delhi

(b) Ghaziabad

(c) Mumbai

(d) Bengaluru

(e) Hyderabad

9) In July 2025, to what level did the HSBC India Services Purchasing Managers’ Index (PMI) rise, indicating strong expansion in the sector?

(a) 59.8

(b) 61.2

(c) 58.6

(d) 60.5

(e) 60.0

10) Recently, SAP Labs India inaugurated the Innovation Park in Bengaluru, Karnataka. What significant economic milestone was mentioned about India's position?

(a) Moving from 11th to 3rd largest economy

(b) Becoming the fastest-growing G20 economy

(c) Overtaking Japan in GDP

(d) Achieving $5 trillion economy status

(e) Becoming a top manufacturing hub

11) Who has been appointed as the new MD & CEO of IndusInd Bank?

(a) Amitabh Chaudhry

(b) Rajiv Anand

(c) V. Vaidyanathan

(d) Shyam Srinivasan

(e) Sandeep Bakhshi

12) Recently in the news, Thailand has approved the purchase of four Swedish-made Gripen fighter jets on August 5, 2025. Which aircraft did Thailand use during its recent border conflict with Cambodia?

(a) F-35s

(b) Gripens

(c) F-16s

(d) MiG-29s

(e) Sukhoi Su-30s

13) In August 2025, which company has received CCI approval to acquire Jaiprakash Associates Limited (JAL)?

(a) UltraTech Cement

(b) Shree Cement

(c) ACC Limited

(d) Ambuja Cements

(e) Dalmia Cement (Bharat) Limited

14) During Philippine President Ferdinand Marcos Jr.’s first state visit to India, India and the Philippines formally elevated their ties to a Strategic Partnership. In which year did India and the Philippines establish diplomatic relations?

(a) 1947

(b) 1949

(c) 1952

(d) 1955

(e) 1960

15) How many Indian companies are currently included in the MSCI India Index?

(a) 100

(b) 125

(c) 150

(d) 158

(e) 175

16) What was Gujarat's export value in FY 2024-25 according to the Federation of Indian Export Organisations (FIEO)?

(a) Rs 7.45 lakh crore

(b) Rs 9.83 lakh crore

(c) Rs 8.91 lakh crore

(d) Rs 10.25 lakh crore

(e) Rs 11.50 lakh crore

17) In which year was the first National Handloom Day celebrated?

(a) 2013

(b) 2014

(c) 2015

(d) 2016

(e) 2017

18) Recently, Uttar Pradesh recorded Rs 1.86 lakh crore in exports, contributing 5% to India’s total exports of Rs 37.02 lakh crore. What is Uttar Pradesh's top export destination?

(a) United Kingdom

(b) United Arab Emirates

(c) Germany

(d) United States

(e) China

19) What is Bank of Baroda's tagline?

(a) "Banking for All"

(b) "India's International Bank"

(c) "The Complete Bank"

(d) "Your Perfect Banking Partner"

(e) "World Class Indian Bank"

20) What does SRVA stand for in banking terms?

(a) Special Rupee Value Account

(b) Special Reserve Vostro Account

(c) Special Rupee Vostro Account

(d) Sovereign Rupee Vault Account

(e) Standard Rupee Verification Account

Answers :

1) Answer: C

Short Explanation:

Gro Digital Platforms, a joint venture between Ashok Leyland and Hinduja Leyland Finance, has partnered with IDFC First Bank to launch FASTag services.

Detailed Explanation:

Gro Digital Platforms, a joint venture between Ashok Leyland and Hinduja Leyland Finance, has partnered with IDFC First Bank to launch FASTag services.

A Memorandum of Understanding (MoU) was signed between the two companies to enable seamless, cashless toll payments and improved transparency for commercial vehicle operators.

Gro Digital will promote IDFC First Bank’s FASTag through Ashok Leyland’s dealership network.

The initiative supports the creation of a smarter, more connected logistics ecosystem by integrating FASTag-enabled vehicles into Gro’s digital freight platform.

2) Answer: A

The Reserve Bank of India (RBI) has removed the requirement for prior approval for opening Special Rupee Vostro Accounts (SRVAs).

As per the latest notification, Authorised Dealer (AD) banks can now open SRVAs for overseas correspondent bankswithout RBI's prior permission.

Earlier, AD banks were mandated to seek RBI's approval before opening such accounts.

3) Answer: B

Short Explanation:

Bank of Baroda has launched bob FxOne, a digital foreign exchange (forex) platform for corporate and MSME customers.

bob FxOne allows customers to execute forex and derivative transactionsdigitally, with features such as:

Real-time live rates

Instant confirmations

Downloadable deal tickets

Personalised dashboard with alerts

Detailed Explanation:

Bank of Baroda has launched bob FxOne, a digital foreign exchange (forex) platform for corporate and MSME customers.

bob FxOne allows customers to execute forex and derivative transactionsdigitally, with features such as:

Real-time live rates

Instant confirmations

Downloadable deal tickets

Personalised dashboard with alerts

The platform is designed to be secure, user-friendly, and cost-effective.

It aims to streamline and simplify the forex and derivative booking process, eliminating branch visits or manual intervention.

Customers can now book deals directly online, which ensures:

Faster execution

Greater transparency

Improved efficiency in treasury operations

The platform caters to the evolving FX needs of modern businesses by providing flexibility, transparency, and control.

4) Answer: E

Short Explanation:

India’s services sector grew at its fastest pace in 11 months in July 2025, driven by rising domestic demand and new export orders.

The HSBC India Services Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 60.5 in July from 60.4 in June.

Detailed Explanation:

India’s services sector grew at its fastest pace in 11 months in July 2025, driven by rising domestic demand and new export orders.

The HSBC India Services Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 60.5 in July from 60.4 in June.

This was the strongest reading since August 2024, and it remained well above the 50-point mark for over two years, indicating continuous expansion.

Growth was attributed to:

New business intakes

Robust output

Advertising

Client onboarding

Export orders

The PMI is based on data from around 400 companies across:

Transport

Information & communication

Finance

Insurance

Real estate

Consumer services (excluding retail)

5) Answer: C

Short Explanation:

A total of ₹705 crore in taxes was collected from income on Virtual Digital Assets (VDA) transactions during FY 2022-23 and FY 2023-24.

The tax on VDA income was introduced under Section 115BBH of the Income Tax Act, 1961, starting from FY 2022-23.

Detailed Explanation:

A total of ₹705 crore in taxes was collected from income on Virtual Digital Assets (VDA) transactions during FY 2022-23 and FY 2023-24.

The tax on VDA income was introduced under Section 115BBH of the Income Tax Act, 1961, starting from FY 2022-23.

An additional ₹630 crore worth of undisclosed income related to VDAs was detected during search and survey operations by the Income Tax Department.

The Central Board of Direct Taxes (CBDT) launched the NUDGE campaign (Non-Intrusive Usage of Data to Guide and Enable) to promote accurate reporting of VDA income.

Under NUDGE, 44,057 emails and messages were sent to taxpayers who traded or invested in VDAs but did not report it in Schedule VDA of their Income Tax Returns (ITRs).

Virtual Asset Service Providers (VASPs) and TDS returns are being monitored to identify discrepancies in VDA-related transactions.

Appropriate action is taken by the CBDT in case of mismatches between TDS filings and ITRs.

6) Answer: D

Short Explanation:

The Reserve Bank of India (RBI) likely conducted the second leg of a $5 billion USD/INR buy/sell swap, aimed at managing surplus system liquidity.

The swap will drain approximately ₹43,000 crore from the banking system, but liquidity will remain above 1% of Net Demand and Time Liabilities (NDTL) – a level the RBI is comfortable with.

Detailed Explanation:

The Reserve Bank of India (RBI) likely conducted the second leg of a $5 billion USD/INR buy/sell swap, aimed at managing surplus system liquidity.

The swap will drain approximately ₹43,000 crore from the banking system, but liquidity will remain above 1% of Net Demand and Time Liabilities (NDTL) – a level the RBI is comfortable with.

System liquidity as on August 3 stood at ₹4.09 lakh crore, indicating a high surplus.

In a buy/sell swap, the RBI purchases dollars in the first leg (injecting rupee liquidity), and sells them at maturity (to withdraw liquidity).

The first leg of the swap was conducted in late January with a 6-month maturity ending in early August.

Market sources suggest no full rollover was done due to the ample liquidity, but a partial rollover was likely.

7) Answer: D

Short Explanation:

The Insurance Regulatory and Development Authority of India (IRDAI) imposed a ₹5 crore penalty on Policybazaar Insurance Brokers.

The fine was levied under Section 102 of the Insurance Act, 1938, which permits penalties for regulatory violations.

Biased product promotion – Labeling certain insurance products as "Top" or "Best plans" without transparent criteria.

Detailed Explanation:

The Insurance Regulatory and Development Authority of India (IRDAI) imposed a ₹5 crore penalty on Policybazaar Insurance Brokers.

The fine was levied under Section 102 of the Insurance Act, 1938, which permits penalties for regulatory violations.

Biased product promotion – Labeling certain insurance products as "Top" or "Best plans" without transparent criteria.

Delayed premium transfer – Premiums were not transferred to insurers within the stipulated time, causing potential coverage gaps.

Improper outsourcing agreements – Lack of compliance and transparency in third-party commission structures.

Incomplete telemarketing procedures – About 1 lakh policies lacked Authorised Verifier mapping and proper call recordings.

Selective display of products – Only ULIPs from 5 insurers shown, and health plans from only 12 of 23 partner insurers.

8) Answer: B

Short Explanation:

India will host the WHO–International Regulatory Cooperation for Herbal Medicines (IRCH) Workshop from August 6 to 8, 2025, at Hotel Fortune District Centre, Ghaziabad.

The event is organized by the Ministry of Ayush in collaboration with the World Health Organization (WHO) and is supported by the Pharmacopoeia Commission for Indian Medicine & Homoeopathy (PCIM&H).

Detailed Explanation:

India will host the WHO–International Regulatory Cooperation for Herbal Medicines (IRCH) Workshop from August 6 to 8, 2025, at Hotel Fortune District Centre, Ghaziabad.

The event is organized by the Ministry of Ayush in collaboration with the World Health Organization (WHO) and is supported by the Pharmacopoeia Commission for Indian Medicine & Homoeopathy (PCIM&H).

The international workshop will bring together regulators and experts to strengthen global capacity in regulating herbal medicines.

Inauguration and Leadership: The workshop will be inaugurated by Vaidya Rajesh Kotecha, Secretary, Ministry of Ayush, and Dr. Kim Sungchol, Chairperson, WHO–IRCH.

Physical presence from countries like Bhutan, Brunei, Cuba, Ghana, Indonesia, Japan, Nepal, Paraguay, Poland, Sri Lanka, Uganda, and Zimbabwe.Virtual participation from Brazil, Egypt, and the USA.

9) Answer: D

Short Explanation:

Services PMI Hits 11-Month High: The HSBC India Services Purchasing Managers’ Index (PMI) rose to 60.5 in July 2025, up slightly from 60.4 in June, indicating strong expansion in the sector.

The rise was attributed to robust advertising, new client acquisitions, and strong domestic and international demand.

Detailed Explanation:

Services PMI Hits 11-Month High: The HSBC India Services Purchasing Managers’ Index (PMI) rose to 60.5 in July 2025, up slightly from 60.4 in June, indicating strong expansion in the sector.

The rise was attributed to robust advertising, new client acquisitions, and strong domestic and international demand.

Export Orders Improve: Export demand increased from key regions such as Asia, Canada, Europe, UAE, and the US.

Top Performing Sectors:Finance and insurance led sectoral growth, while real estate and business services underperformed.

Employment Slows:Employment growth declined to a 15-month low, with less than 2% of surveyed firms hiring in July, highlighting a cautious approach to recruitment.

Rising Cost Pressures:Input and output prices increased, driven by higher costs of food, freight, and labour.

Manufacturing PMI at 16-Month High: The HSBC India Manufacturing PMI rose to 59.1 in July from 58.4 in June, reflecting strong gains in new orders and production.

10) Answer: A

Short Explanation:

SAP Labs India has inaugurated a state-of-the-art Innovation Park in Devanahalli, Bengaluru, Karnataka, underscoring its commitment to the Government of India’s mission of fostering Digital India, Skill India, and a sustainable technology infrastructure.

India is moving from the 11th largest economy to soon becoming the 3rd largest economy in the world.

Detailed Explanation:

SAP Labs India has inaugurated a state-of-the-art Innovation Park in Devanahalli, Bengaluru, Karnataka, underscoring its commitment to the Government of India’s mission of fostering Digital India, Skill India, and a sustainable technology infrastructure.

The Innovation Park strengthens SAP’s commitment to India and enhances the country’s position as a global hub for technology and innovation.

Shri Ashwini Vaishnaw, Union Minister for Railways, Communications, and Electronics & IT, delivered the keynote address at the inaugural event.

India is moving from the 11th largest economy to soon becoming the 3rd largest economy in the world.

Electronics exports have grown 8 times in the last 11 years.

Made in India chips will be available soon.

India is witnessing massive technological progress across sectors like Railways.

11) Answer: B

IndusInd Bank announced the appointment of Rajiv Anand as its new Managing Director (MD) & Chief Executive Officer (CEO) on August 4, 2025.

The Board of Directors, based on RBI approval, appointed him as Additional Director (MD & CEO) and Key Managerial Personnel.

His tenure will be for three years, from August 25, 2025, to August 24, 2028, subject to shareholder approval.

Rajiv Anand previously served as Deputy Managing Director of Axis Bank, retiring on August 3, 2025, after completing his third term.

12) Answer: C

Short Explanation:

Thailand has approved the purchase of four Swedish-made Gripen fighter jets on August 5, 2025.

The deal is worth $600 million and involves the Saab JAS 39 Gripens, manufactured in Sweden.

The decision follows a ceasefire with Cambodia after deadly border clashes that left over 40 people dead.

The Royal Thai Air Force used its F-16s during the five-day conflict to strike targets in Cambodia.

Detailed Explanation:

Thailand has approved the purchase of four Swedish-made Gripen fighter jets on August 5, 2025.

The deal is worth $600 million and involves the Saab JAS 39 Gripens, manufactured in Sweden.

The decision follows a ceasefire with Cambodia after deadly border clashes that left over 40 people dead.

The Royal Thai Air Force used its F-16s during the five-day conflict to strike targets in Cambodia.

The new acquisition is part of Thailand’s long-term plan to modernise its combat capabilities.

The Thai Cabinet approved the purchase to strengthen national security and protect sovereignty.

A 10-month review by a procurement committee starting in August 2024favored the Gripens over US-made F-16s.

Thailand already operates 11 Gripens and several older F-16s from the 1980s.

The country’s total defence budget is 200 billion baht (approx. $6 billion), covering the army, navy, and air force.

13) Answer: E

The Competition Commission of India (CCI) has approved the acquisition of Jaiprakash Associates Limited (JAL) by Dalmia Cement (Bharat) Limited (DCBL).

The acquisition is part of a corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC).

Dalmia Cement (Bharat) Ltd is a wholly-owned subsidiary of Dalmia Bharat Limited (DBL), which is the parent company of the Dalmia Bharat Group.

Dalmia Bharat Limited is engaged primarily in the manufacture and sale of cement.

14) Answer: B

During Philippine President Ferdinand Marcos Jr.’s first state visit to India, India and the Philippines formally elevated their ties to a Strategic Partnership, strengthening cooperation in defence, maritime security, trade, development, and people-to-people exchanges.

Historic Engagement:Diplomatic relations commenced in 1949, driven by shared democratic values, anti-colonial legacies, and expanding geopolitical convergence. India’s Look East and now Act East policy deepened engagement, making the Philippines a key partner.

Trade Growth and Surplus:Post‑2009 India–ASEAN Trade in Goods Agreement, bilateral trade expanded significantly. Trade crossed USD 3 billion in 2022–23 and reached USD 3.53 billion in 2023–24, with India enjoying a trade surplus.

15) Answer: D

Short Explanation:

The MSCI India Index, which consists of 158 large and mid-sized Indian companies, represents about 85% of the Indian equity universe.

It is used by global investors, mutual funds, and exchange-traded funds (ETFs) to assess and invest in the Indian market.

Detailed Explanation:

The MSCI India Index, which consists of 158 large and mid-sized Indian companies, represents about 85% of the Indian equity universe.

It is used by global investors, mutual funds, and exchange-traded funds (ETFs) to assess and invest in the Indian market.

New Additions in August 2025 Review:
The following four Indian stocks are set to be added to the MSCI Standard Index:

Vishal Mega Mart – expected inflow of US$287 million

Swiggy – expected inflow of US$285 million

Hitachi Energy India – expected inflow of US$240 million

Waaree Energies – expected inflow of US$217 million
These additions may collectively attract foreign inflows of over US$1.03 billion.

Expected Deletions from MSCI Standard Index:
Two companies are likely to be removed from the index:

Sona BLW Precision Forgings – projected outflow of US$186 million

Thermax – projected outflow of US$154 million
These changes will be effective from August 26, 2025.

16) Answer: B

Short Explanation:

Gujarat continued to dominate India’s export landscape in FY 2024–25 with outbound shipments worth Rs 9.83 lakh crore, according to the Federation of Indian Export Organisations (FIEO).

The state accounted for 26.6% of the country’s total exports, maintaining a substantial lead over other states.

Detailed Explanation:

Gujarat continued to dominate India’s export landscape in FY 2024–25 with outbound shipments worth Rs 9.83 lakh crore, according to the Federation of Indian Export Organisations (FIEO).

The state accounted for 26.6% of the country’s total exports, maintaining a substantial lead over other states.

Top Exporting State: Gujarat retained its top position with Rs 9.83 lakh crore in exports, despite a marginal decline from the previous year.

Significant Lead Over Maharashtra: Gujarat’s exports were nearly Rs 4.3 lakh crore more than Maharashtra, which stood at Rs 5,57,271 crore, ranking second.

Other Leading States: Following Gujarat and Maharashtra, the top exporting states include Tamil Nadu, Karnataka, Uttar Pradesh, Andhra Pradesh, and Telangana.

Key Export District - Jamnagar:Jamnagar alone contributed Rs 3.63 lakh crore, over one-third of Gujarat’s total, mainly from petroleum and refinery exports.

17) Answer: C

National Handloom Day 2025 is observed every year on August 7. On this day, the Government and other organizations raised awareness to honour the handloom weaving community.

In 2015, the first National Handloom Day was celebrated which was inaugurated by PM Narendra Modi

18) Answer: D

Uttar Pradesh’s Export Performance: Uttar Pradesh recorded Rs 1.86 lakh crore in exports, contributing 5% to India’s total exports of Rs 37.02 lakh crore.

UP's Export Diversification: The state has shown commendable diversification by exporting to both traditional and emerging markets globally.

Top Export Destination for UP:The United States remains the primary export destination for Uttar Pradesh.

19) Answer: B

About Bank of Baroda (BoB):

• Founded: 1908
• Headquarters: Vadodara, Gujarat, India
• Managing Director & CEO: Debadatta Chand
• Tagline: "India’s International Bank"

20) Answer: C

SRVAs (Special Rupee Vostro Accounts) are INR-denominated accounts held by foreign banks in Indian banks, facilitating:Invoicing, Payment, Settlement of exports and imports in Indian Rupees.

This move is aimed at promoting rupee-based trade settlements and ease of doing business in international trade.