Daily Current Affairs 07th October 2025, Important News Headlines (Daily GK Update)

• France’s new Prime Minister Sebastien Lecornu resigned just 14 hours after appointing his cabinet, deepening the country’s political crisis amid widespread opposition to his lineup, which angered both allies and opponents.
• This unprecedented move triggered a sharp drop in French stocks and the euro. Lecornu, a close ally of President Emmanuel Macron, stepped down as threats to topple his government mounted in a fragmented parliament with no clear majority.
• The far-right National Rally called for a snap parliamentary election, underscoring ongoing instability in French politics since Macron’s 2022 re-election.

Philippines Launches Southeast Asia’s First Coral Cryobank

• The Philippines has launched Southeast Asia’s first coral larvae cryobank to safeguard coral genetic diversity and combat reef degradation in the Coral Triangle—a global marine biodiversity hotspot.
• In collaboration with countries like Indonesia, Taiwan, Malaysia, and Thailand, the project uses cryopreservation, where coral larvae are frozen in liquid nitrogen (–196°C) through vitrification.
• This pioneering initiative aims to counter threats like climate-induced coral bleaching, pollution, and destructive fishing, which have already caused a 14% global coral loss (2009–2018).
• Coral reefs, made of tiny polyps, support 25% of marine life, making their conservation critical for ocean health.

Iran Approves Currency Redenomination to Tackle Inflation

• Iran’s parliament has approved a currency redenomination plan to remove four zeros from the rial, aiming to simplify transactions after years of hyperinflation—with rates over 35%.
• The Central Bank has two years to prepare, followed by a three-year transition where both old and new denominations will circulate. Critics argue that true currency strength depends on economic stability, not just cosmetic changes.
• The rial currently trades at around 1,150,000 per USD in the free market, reflecting its severely diminished value.

Banking News

India Launches UPI at Supermarkets in Qatar

• India has launched the Unified Payments Interface (UPI) system at Lulu Group supermarkets in Qatar, following its earlier introduction at Hamad International Airport.
• This rollout, a collaboration between NPCI International Payments Ltd (NIPL), Qatar National Bank (QNB), and Japanese payments gateway NETSTARS, aims to facilitate faster, cost-effective capital flow and boost trade between the two countries.
• With around 830,000 Indians in Qatar, UPI enables quicker, cheaper remittances, supporting economic ties and digital payment adoption.
• Qatar is now the eighth country to accept UPI, marking a significant step in expanding India’s global financial presence.

RBI Recognises FIDC as Self‑Regulatory Organisation for NBFCs

• The Reserve Bank of India (RBI) has granted Self-Regulatory Organisation (SRO) status to the Finance Industry Development Council (FIDC) for the NBFC sector, aiming to enhance industry discipline, risk monitoring, and customer protection.
• SROs are non-governmental, not-for-profit entities authorised to oversee specific sectors.
• With NBFCs accounting for nearly one-third of India’s lending, their rapid growth and sector-specific vulnerabilities—such as governance gaps, liquidity crises, and shadow banking risks—necessitated a structured oversight mechanism.

RBI Unveils Four Major Banking Sector Reforms

Appointments News

JPMorgan Appoints New EMEA Co‑CEOs

• JPMorgan Chase has appointed Conor Hillery and Matthieu Wiltz as co-CEOs for Europe, the Middle East, and Africa (EMEA), aiming to boost EMEA revenues by 20% by 2030 and deepen its regional focus.
• The leadership change follows outgoing CEO Filippo Gori’s move to New York for global duties.
• Hillery, based in London, heads Investment Banking, while Wiltz, based in France, leads EMEA Sales—both retaining their current roles.
• Their combined 50 years of experience will drive client engagement, expand operations, and navigate evolving market dynamics in this key growth region encompassing developed and emerging markets.

Sanju Samson Named EPL Ambassador for India

• Indian cricketer Sanju Samson has been appointed as the official ambassador of the English Premier League (EPL) in India, highlighting the EPL’s strategy to deepen fan engagement in the subcontinent.
• A Liverpool FC fan and Kerala native, Samson met Michael Owen at a fan event in Mumbai as part of his new role.
• Known for promoting football through his association with Kerala Blasters FC, Samson’s appointment reflects efforts to bridge cricket and football cultures in India, particularly in Kerala—a major hub for Indian football.

Awards News

Nobel Prize in Physics 2025 awarded to Clarke, Devoret, and Martinis

• The 2025 Nobel Prize in Physics has been awarded to John Clarke, Michel H. Devoret, and John M. Martinis for their groundbreaking discovery of macroscopic quantum mechanical tunnelling and energy quantisation in an electric circuit.
• Their pioneering work proved that quantum phenomena — once believed to occur only at microscopic scales — can manifest in macroscopic systems, bridging the quantum and classical worlds and laying the foundation for quantum computing, cryptography, and next-generation sensors.

President of India Presents “My Bharat – NSS” Awards for 2022‑23

• The President of India, Smt Droupadi Murmu, presented the MY Bharat – National Service Scheme (NSS) Awards 2022-23 at Rashtrapati Bhavan on October 6, 2025.
• The NSS, launched in 1969, is a key initiative by the Government of India to foster personality development through voluntary community service.
• Instituted in 1993-94 by the Ministry of Youth Affairs and Sports, the MY Bharat-NSS Awards recognize exceptional youth contributions in social service, community development, and nation-building.

Defense News

INS Androth Commissioned into Indian Navy

• The Indian Navy commissioned INS Androth, its second Anti-Submarine Warfare Shallow Water Craft (ASW-SWC), on October 6, 2025, at Visakhapatnam.
• With over 80% indigenous content, INS Androth exemplifies Aatmanirbhar Bharat and features advanced weapons, sensors, and communication systems for effective submarine detection and coastal defense.
• Powered by three waterjet propulsion systems, the ship enhances India’s maritime security and ASW capabilities, reinforcing the Navy’s focus on innovation and self-reliance.

Schemes News

Amit Shah Launches Goa’s ‘Mhaje Ghar’ Scheme to Grant Home Rights

• Union Home Minister Amit Shah launched Goa’s landmark ‘Mhaje Ghar’ Yojana, granting ownership rights to residents living on government and community lands, benefiting nearly 11 lakh people.
• Inaugurated in Taleigao, the scheme aims to regularise houses under laws like the Goa Land Revenue Code and Forest Rights Act.
• Shah also unveiled projects worth ₹2,452 crore, including major infrastructure, digital services, and public amenities, highlighting Goa’s fast-track development and projecting it as a developed state by 2037.

Summits & Conferences News

PM to Inaugurate IMC 2025 in Delhi On October 8th

• Prime Minister Shri Narendra Modi will inaugurate India Mobile Congress (IMC) 2025 from October 8-11 at Yashobhoomi, New Delhi, showcasing Asia’s premier telecom and tech event themed “Innovate to Transform”.
• With over 1.5 lakh visitors, 7,000+ global delegates, and 400+ exhibitors, IMC 2025 focuses on cutting-edge areas like 6G, AI, cybersecurity, satellite communication, and telecom manufacturing.

• Valmiki Jayanti 2025 is celebrated on October 7 to mark the birth anniversary of Maharishi Valmiki, the revered Sanskrit poet and author of the epic Ramayana.
• Known as the Adi Kavi (the first poet) in Sanskrit literature, Valmiki is honored for his profound contributions and teachings on social justice and values.
• The festival pays tribute to his legacy and lasting impact on Hindu culture and literature.

Current Affairs Best 100 MCQs | 7 Oct Current Affairs 2025 | Daily Current Affairs By Ashish Gautam