Daily Current Affairs MCQ: 28th September 2025 - UPSC MCQ

Statement-I correctly highlights the recent judgment by the Supreme Court emphasizing corporate revival over liquidation in the context of JSW Steel's acquisition of Bhushan Power and Steel. This aligns with the key takeaway from the news regarding the Insolvency and Bankruptcy Code (IBC) application.

Statement-II accurately describes the Cold Desert Biosphere Reserve's recent UNESCO recognition, its geographical extent, and the emphasis on biodiversity conservation and sustainable development. However, Statement-II does not directly relate to or explain Statement-I, as they pertain to separate topics within the provided information.

- Statement 1: The agreement indeed prohibits government support for illegal, unreported, and unregulated (IUU) fishing. This is a crucial part of the agreement aimed at ensuring sustainable fishing practices globally. Therefore, Statement 1 is correct.

- Statement 2: The WTO Agreement on Fisheries Subsidies does not mandate that subsidy disciplines be calculated on a per capita fisher basis. This is a proposal by India, which suggests that subsidy disciplines should be calculated in this manner to highlight the disparity between subsidies in developed and developing countries. However, this is not a requirement of the agreement itself. Thus, Statement 2 is incorrect.

- Statement 3: The WTO Fish Fund was indeed established to provide technical support and funding to developing countries and LDCs, assisting them in implementing the provisions of the agreement. Hence, Statement 3 is correct.

Based on the above analysis, statements 1 and 3 are correct. Therefore, the correct answer is Option C: 1 and 3 Only.

1. Statement 1 is correct. The Insolvency and Bankruptcy Code (IBC) of 2016 indeed aims to consolidate and amend the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms, and individuals in a time-bound manner. This is a key objective of the IBC, aimed at creating a streamlined and efficient framework for resolving insolvency in India.

2. Statement 2 is correct. The Insolvency and Bankruptcy Board of India (IBBI) was established to oversee insolvency proceedings and regulate professionals involved in the insolvency process. The IBBI plays a crucial role in ensuring the proper implementation of the IBC and maintaining standards among insolvency professionals.

3. Statement 3 is incorrect. The Supreme Court's approval of JSW Steel's acquisition of Bhushan Power and Steel (BPSL) actually emphasized the importance of corporate revival over liquidation. The judgment reinforced the provisions of the IBC that prioritize reviving distressed companies rather than liquidating them, which is contrary to what statement 3 suggests.

Thus, the correct answer is Option B: 1 and 2 Only.

1. Holtec International - Regulatory clearance by US Department of Energy for small modular reactor technology transfer: This pair is correctly matched. The US Department of Energy granted regulatory clearance to Holtec International, which facilitates the transfer of unclassified small modular reactor (SMR) technology to India.

2. Section 17(b) of the Civil Liability for Nuclear Damage Act - Allows unlimited liability on operators for accidents: This pair is incorrectly matched. Section 17(b) actually allows operators to seek compensation from suppliers for defective equipment after paying damages, but the concern is about unlimited liability on suppliers, not operators.

3. UN General Assembly - Comprises all 193 member states: This pair is correctly matched. The UN General Assembly is indeed the primary deliberative body of the United Nations and includes all 193 member states.

4. India's Civil Liability for Nuclear Damage Act - Currently aligns with international standards: This pair is incorrectly matched. India's Civil Liability for Nuclear Damage Act does not currently align with international standards, and amendments are being considered to address this and attract foreign investments.

Thus, two pairs are correctly matched: Pair 1 and Pair 3.

1. SabhaSaar is correctly matched. It is indeed an AI tool designed to create structured minutes of Gram Sabha meetings and supports 14 Indian languages for accurate records.

2. BharatNet is incorrectly matched. BharatNet's primary function is to deliver broadband services, including FTTH connections, to enhance digital connectivity, not to provide legal ownership papers to rural households.

3. Mission Indradhanush is correctly matched. It is a special drive aimed at vaccinating all unvaccinated and partially vaccinated children under the Universal Immunization Programme (UIP).

4. SVAMITVA is incorrectly matched. SVAMITVA provides legal ownership papers to rural households, facilitating bank loans and asset utilization, not broadband services.

Only pairs 1 and 3 are correctly matched.

Statement-I correctly highlights India's commitment to sustainable fishing practices by ratifying the WTO Agreement on Fisheries Subsidies, aligning with the global objective to reduce harmful subsidies in fishing. Statement-II accurately describes the key objectives of the WTO agreement, emphasizing its focus on promoting environmental sustainability, fair trade, and marine resource protection. Therefore, both statements are correct, and Statement-II provides context that supports Statement-I.

1. JSW Steel's acquisition of BPSL - Reinforces liquidation processes: This pair is incorrectly matched. The acquisition of Bhushan Power and Steel by JSW Steel was approved by the Supreme Court, reinforcing the revival of distressed firms rather than liquidation, aligning with the spirit of the Insolvency and Bankruptcy Code (IBC), 2016, which emphasizes rehabilitation over liquidation.

2. Insolvency and Bankruptcy Code (IBC), 2016 - Aims to streamline insolvency processes: This pair is correctly matched. The IBC, 2016 was enacted to consolidate and amend the laws relating to reorganization and insolvency resolution to streamline and ensure timely resolution of insolvency cases.

3. Cold Desert Biosphere Reserve - Located in Ladakh: This pair is incorrectly matched. The Cold Desert Biosphere Reserve is located in Himachal Pradesh, not Ladakh. It spans the Lahaul-Spiti district, and its recent designation as a UNESCO Biosphere Reserve highlights its ecological significance.

4. Insolvency and Bankruptcy Board of India (IBBI) - Established in 2016: This pair is correctly matched. The IBBI was indeed established in 2016 to oversee the implementation of the IBC and regulate the insolvency professionals and proceedings in India.

Thus, only pairs 2 and 4 are correctly matched.

The expansion of nuclear cooperation between India and the United States faces a significant obstacle due to unresolved legal issues, particularly concerning India's nuclear liability framework. This framework historically deterred US companies from entering the Indian nuclear market. Addressing these liability concerns is crucial for fostering stronger collaboration, but it remains a complex challenge, making the expansion of nuclear cooperation more difficult than anticipated.

The primary objective of the Ministry of Panchayati Raj's digital reforms for Gram Panchayats is to enhance transparent, efficient, and inclusive rural governance. By introducing digital initiatives like SabhaSaar, SVAMITVA, BharatNet, eGramSwaraj, and others, the aim is to leverage technology to improve governance processes, promote citizen participation, and streamline administrative functions, ultimately leading to better rural governance.

- Statement 1: SabhaSaar is indeed an AI tool designed to support the creation of structured minutes for Gram Sabha meetings and supports 14 Indian languages. This statement is correct.

- Statement 2: BharatNet is a government initiative aimed at enhancing digital connectivity by providing broadband services primarily to rural areas, not urban areas. Therefore, this statement is incorrect as it misstates the target of the BharatNet initiative.

- Statement 3: The SVAMITVA scheme is a government initiative that provides legal ownership papers to rural households, facilitating the utilization of assets and enabling access to bank loans. This statement is correct.

Thus, only statements 1 and 3 are correct, making Option C the correct choice.