1. RBI Retail Sandbox of Digital Rupee (e-Rupee).

• What: On the 8th of October, 2025, it initiated a controlled testing environment (sandbox) of its Central Bank Digital Currency (CBDC).
• Intent: With this, fintechs can securely experiment and develop products (apps, wallets) without impacting the primary financial system on e-Rupee.
• Background: e-Rupee retail pilot was launched in Dec 2022, and currently has a user base of around 7 million.

1. Key Development:

• Britain, Canada, Australia, and Portugal have officially announced their formal recognition of the State of Palestine.

2. Primary Motivation:

• The move is driven by frustration with the ongoing Gaza war and is intended to revive efforts towards a two-state solution as the foundation for lasting peace.

1. Award Announcement:

• The 2025 Nobel Prize in Literature has been awarded to László Krasznahorkai, a celebrated Hungarian novelist and screenwriter.

2. Recognition by the Swedish Academy:

• He was honored for his “compelling and visionary oeuvre that, in the midst of apocalyptic terror, reaffirms the power of art.”

1. Appointment:

• The reserve bank of India (RBI) has hired Shri Sanjay Kumar Hansda as an Executive Director (ED).
• The appointment comes into effect March 3, 2025.

1. Brand Ambassador:

• Group Captain Shubhanshu Shukla, recognized as the first Indian to reach the International Space Station (ISS), has been appointed the brand ambassador for the initiative.