Daily Current Affairs

To The Point Notes

1.RBI Cancels License of City Co-operative Bank

Reason: Lack of adequate capital and earning prospects.

Depositors’ Insurance:

  • In case of liquidation, depositors can claim up to ₹5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC).

About Cooperative Banks:

  • Financial institutions operating on cooperative and mutual benefit principles.
  • Members are both owners and customers.
  • Decision making based on “one person, one vote.”
  • Accept deposits and provide loans.


  • Dual Control:
    • RBI (Banking Regulation Act, 1949 & Banking Laws (Application to Co-operative Societies) Act, 1965) – Banking aspects (capital adequacy, risk control, lending norms)
    • Registrar of Co-operative Societies (RCS) – Management aspects (incorporation, registration, management, audit, etc.)


  • Primary Categories:
    • Urban Cooperative Banks (UCBs) – Urban & semi-urban areas, cater to small borrowers and businesses.
      • Scheduled Banks & Non-Scheduled Banks
    • Rural Cooperative Banks (RCBs) – Rural areas, cater to rural financial needs.
      • Short-Term Structures: State Cooperative Banks, District Cooperative Central Banks (DCCBs), Primary Agricultural Credit Societies (PACS)
      • Long-Term Structures: State Cooperative Agricultural and Rural Development Banks (SCARDBs), Primary Cooperative Agricultural and Rural Development Banks (PCARDBs)

97th Constitutional Amendment Act 2011:

  • Established right to form cooperative societies as a fundamental right (Article 19).
  • Included a new Directive Principle on Promotion of Cooperative Societies (Article 43-B).
  • Added a new Part IX-B on The Co-operative Societies (Articles 243-ZH to 243-ZT).
  • Authorized Parliament to make laws for multi-state cooperative societies (MSCS) and state legislatures for others.



2.National Monetisation Pipeline (NMP)

Launched by: NITI Aayog (2021)

Objective: Monetize brownfield public sector assets to fund new infrastructure development.

Monetization Approach: Structured contractual partnerships (not privatization) to attract private sector investment.

Key Points:

  • Target: ₹6.0 lakh crore potential monetization value over FY 2022-2025.
  • Achievement (last 3 years): ₹3.85 lakh crore.
  • Top Performing Ministries (2023-24):
    • Road Transport & Highways (₹40,314 crore)
    • Coal (₹56,794 crore)
  • Sectors Covered: Roads, Railways, Power, Telecom, Shipping, etc.
  • Alignment:
    • National Infrastructure Pipeline (NIP) – funds new infrastructure projects.
    • Philosophy of “Creation through Monetization”.


  • Attract private participation in infrastructure creation.
  • Leverage institutional capital for further public investments.
  • Foster economic growth and improve public welfare.

Top 5 Sectors (by estimated value):

  1. Roads (27%)
  2. Railways (25%)
  3. Power (15%)
  4. Oil & Gas Pipelines (8%)
  5. Telecom (6%)

Note: These sectors contribute about 83% of the total NMP value.



3.New Amphibian Discovery in Kaziranga National Park

Location: Kaziranga National Park and Tiger Reserve, Assam

Discovery: A recent herpetofauna survey revealed a new species – the striped caecilian (Ichthyophis spp).


  • Limbless amphibians living underground.
  • Ancient species offering insights into evolution and speciation.

Importance of Herpetofauna:

  • Reptiles and amphibians (herpetofauna) maintain ecological balance.
  • Considered indicator species for environmental health.

About Kaziranga National Park:

  • Located in Assam, on the banks of the Brahmaputra River.
  • Home to:
    • 2/3 of world’s one-horned rhinos
    • Endangered Western Hoolock Gibbon (India’s only ape)
    • Critically endangered Bengal Florican
  • Part of Eastern Himalayan Biodiversity Hotspot
  • Designated as:
    • National Park (1974)
    • Tiger Reserve (2006)
    • UNESCO World Heritage Site (1985)
    • Important Bird Area



4.Kolar Gold Fields

Location: Kolar District, Karnataka (100 km east of Bangalore)


  • Gold discovery – Early 19th century
  • Deepest gold mines – Over 3,000 meters
  • Major gold mining center in India (until 2001)


  • Year – 2001
  • Reasons – Low gold prices & high operational costs

Recent Decision:

  • Central government approved continued mining activities at the defunct Bharat Gold Mines Limited’s (BGML) mine.



5.Ghodbunder Fort

Location: Ghodbunder Village, Thane, Maharashtra

Significance: Strategic location & rich history

Portuguese Era (Early 16th Century):

  • Built for trade and defense.
  • “Ghodbunder” – Portuguese term for horse trading with Arabs.
  • Fortification started in 1550.
  • Marathas attempted capture (“Cacabe de Tanna”).

Maratha Rule (1737):

  • Captured by Marathas under Chimaji Appa from Portuguese.

British Occupation (1818):

  • Became East India Company’s district headquarters.
  • District collector stationed in Thane.

Current Status:

  • Ruins under Archaeological Survey of India (ASI).
  • Renovation plans include beautification of surrounding land.
  • Recent discovery: Hidden chamber-like structure.


Leave a Reply

Your email address will not be published. Required fields are marked *