UPSC Prelims Current Affairs for 5 July 2026

by Vajiram & Ravi - 5 July 2026

Vajiram & Ravi provides Daily UPSC Prelims Current Affairs for 5 July 2026, tailored for aspirants. We cover all relevant news and events crucial for the exam, ensuring you stay updated & well-prepared.

Medical Innovations Patent Mitra Platform

July 5, 2026
Medical Innovations Patent Mitra Platform

Medical Innovations Patent Mitra Platform Latest News

Recently, the National Medical Commission (NMC) has asked all medical colleges and institutions to use the Indian Council of Medical Research's (ICMR) ‘Medical Innovations Patent Mitra’ platform.

About Medical Innovations Patent Mitra Platform

  • It provides fully government-funded support for patent filing and technology transfer.
  • It aims to support strategic and quality patent filings for innovative biomedical research with a vision to advance patent protection and facilitate seamless technology transfer for societal impact.
  • It enables researchers and innovators to protect their intellectual property and translate research into healthcare products and technologies.
  • It was launched by the Indian Council of Medical Research (ICMR).
  • It was launched under the guidance of NITI Aayog, in partnership with the Department of Pharmaceuticals (DoP) and with support from the Department for Promotion of Industry and Internal Trade (DPIIT).
  • The platform focuses on several areas, including
    • Supporting patent protection for healthcare innovations
    • Helping researchers transfer technologies to industry partners
    • Speeding up commercialisation of indigenous medical products
    • Encouraging collaboration between scientists, startups, and companies
    • Improving access to affordable healthcare technologies

Source: NIE

Medical Innovations Patent Mitra Platform FAQs

Q1: Which body launched the “Medical Innovations Patent Mitra: I2I Connect” platform?

Ans: Indian Council of Medical Research (ICMR)

Q2: Under whose guidance was Medical Innovations Patent Mitra launched?

Ans: NITI Aayog; in partnership with Department of Pharmaceuticals (DoP) & supported by DPIIT

Key Facts about Peru

July 5, 2026
Peru

Peru Latest News

Recently, the 9th round of India-Peru trade agreement was successfully concluded in Peru.

About Peru

  • Location: It is situated just to the south of the Equator in South America.
  • It is the third largest country in South America, after Brazil and Argentina.
  • Bordering Countries: Ecuador (North), Brazil (East), Bolivia (Southeast) and Chile (South)
  • Bordering Ocean: Its western border lies along the Pacific Ocean. 
  • Capital City: Lima

Geographical Features of Peru

  • It is characterized by three major regions: the Costa, Sierra, and Amazonia.
    • The Costa is an arid coastal strip along the Pacific Ocean.
    • The Sierra consists of the Andes Mountains, which run through the center of the country.
    • The Andes are divided into three main ranges: the Cordilleras Occidental, Central, and Oriental. 
  • Highest Peak: Mount Huascarán (6,768 m)
  • Rivers: Amazon, Ucayali, Madre de Dios
  • Lakes: Lake Titicaca (world’s highest navigable lake), which Peru shares with Bolivia.
  • Climate: It varies from tropical in east to dry desert in west; temperate to frigid in the Andes.
  • Natural Resources: Copper, silver, Gold, Petroleum, timber, Iron ore, coal, Phosphate, potash, natural gas.

Source: PIB

Peru FAQs

Q1: What is the capital of Peru?

Ans: Lima

Q2: What is the currency of Peru?

Ans: Sol

Q3: What is the name of the Peruvian festival celebrated on June 24th?

Ans: Inti Raymi

Canscora agni

July 5, 2026
Canscora agni

Canscora agni Latest News

Researchers recently discovered a new plant species, named Canscora agni, in the fire-prone savannas of western India. 

About Canscora agni

  • It is a new species of plant.
  • It was found on Sus Hill in Maharashtra's Pune district.
  • Discovered in the fire-prone savannas of western India, this tiny plant highlights the often-misunderstood role that natural fires play in keeping ecosystems healthy.  
    • In the ancient Indian savannas, frequent natural fires are a vital force of nature that clear away overgrown woody vegetation, allowing native grasses and unique dwarf plants like C. agni to thrive.  
  • The specific name 'agni' means 'fire' in several Indian languages, including Marathi.
  • Canscora agni is a small herb with white petals and uniquely winged stems.     
  • It has several unique characteristics that easily differentiate it from its closest relative, Canscora alata. 
    • While C. alata can grow into a tall herb up to 60 centimetres, C. agni is a dwarf herb reaching a maximum of only 10 centimetres.
    • It also features fewer and shorter leaves, measuring up to 11 millimetres long. 
    • Closer examination of its stems reveals that the wing-like structures are uneven, being wider below the flowers and narrower towards the stem. 
    • It has special minute glandular hairs on its leaves, a shorter ovary, and distinct web-like (reticulate) veins on the wide wings of its flower base (the calyx), all traits that are completely absent in its taller cousin. 
  • The researchers suggest classifying Canscora agni as 'Critically Endangered' because it has been found in only one tiny location.

News: RM

Canscora agni FAQs

Q1: What is Canscora agni?

Ans: It is a newly discovered species of plant.

Q2: Where was Canscora agni discovered?

Ans: Sus Hill in Pune district, Maharashtra.

Q3: In which type of ecosystem was Canscora agni discovered?

Ans: Fire-prone savannas of western India.

Q4: What type of plant is Canscora agni?

Ans: It is a small herb with white petals and uniquely winged stems.

Rutile

July 5, 2026
Rutile

Rutile Latest News

When a team at IIT-Delhi recently compared the members of a family of minerals called rutile oxides, they found a significant difference between metals and insulators that a well-known mathematical model could not explain.

About Rutile

  • It is a mineral composed primarily of titanium dioxide, TiO2. 
  • It is the most common and stable form of titanium dioxide found in nature.  
  • It is one of the three main minerals of titanium, along with ilmenite and leucoxene.  
  • It forms red to reddish brown, hard, brilliant metallic, slender crystals, often completely surrounded by other minerals.  
  • Natural Rutile can contain up to 10% iron and large amounts of niobium and tantalum.
  • Rutile was first described in 1803 by Abraham Gottlob Werner. 

Rutile Occurrence

  • It is found in igneous, metamorphic, and sedimentary rocks throughout the world. 
  • Rutile has a high specific gravity and is often concentrated by stream and wave action in "heavy mineral sands" that exist today in both onshore and offshore deposits. 
  • Much of the world's rutile production is mined from these sands.
  • Rutile ore is largely available in countries like Australia, India, South Africa, Ukraine, and Sierra Leone. 
  • India has significant rutile deposits in the coastal sands of states such as Kerala, Tamil Nadu, Odisha, and Andhra Pradesh. 

Rutile Uses

  • Rutile has several important industrial applications due to its high refractive index and strong resistance to heat and chemical corrosion. 
  • One of its main uses is as a pigment in paints, plastics, ceramics, and other materials.  It imparts a bright white color and excellent opacity to these products. 
  • Rutile has minor uses in porcelain and glass manufacture and in making some steels and copper alloys. 
  • Rutile is also used as a source of titanium metal, which has a wide range of applications in industries such as aerospace, automotive, electronics, and medical devices. 
  • In addition to its industrial uses, rutile is valued as a collector’s mineral and gemstone. 
    • Transparent rutile crystals are sometimes cut and polished for use as gemstones.

News: TH

Rutile FAQs

Q1: What is rutile?

Ans: It is a mineral composed primarily of titanium dioxide (TiO₂).

Q2: What is the most common and stable natural form of titanium dioxide?

Ans: Rutile.

Q3: What is the typical colour of rutile crystals?

Ans: Red to reddish-brown.

Q4: Which Indian states have significant rutile deposits?

Ans: Kerala, Tamil Nadu, Odisha, and Andhra Pradesh.

Q5: In which industries is rutile commonly used as a white pigment?

Ans: Paints, plastics, ceramics, and other materials.

Tandulwadi Fort

July 5, 2026
Tandulwadi Fort

Tandulwadi Fort Latest News

Six tourists were recently rescued after they lost their way and got stranded in dense fog while coming down from Tandulwadi Fort in Maharashtra's Palghar district.

About Tandulwadi Fort

  • It is located near Lalthane village in Palghar district, about 104 km from Mumbai, Maharashtra.
  • The fort dates back 800 years and was primarily used as a watch tower over the surrounding plain. 
  • Tandulwadi is not a fully built up fort, but a series of structures spread over the top of the mountain.  
  • At a height of 1524 feet, it has views of the surrounding towns of Saphale, the Zanzorli lake, and the confluence of the Surya and Vaitarna rivers. 

Tandulwadi Fort History

  • In the thirteenth century, King Bhimdev's kingdom comprised the cities of Shurparak (Nalasopara) and Mahikawati (Mahim). 
  • The first known history of the fort was in the 15th century (about 1429) during the rule of Jafar Khan, son of Ahmed Shah of the Gujarat Sultanate. 
  • It was used as a reconnoiter fort to keep a watch on neighboring forts and the Arabian Sea.  
  • In 1454, the Sultan of Ahmedabad captured Mahikavati (Mahim Fort) and one of his Sardar named Mallik Allauddin was made chief of Tandulwadi fort. 
  • In 1509, the Portuguese took the fort but lost control of the area to the Marathas in 1737 after the Battle of Bassein. 

Tandulwadi Fort Structure

  • It has several rock cut water cisterns. 
  • There are no bastions, walls or houses on the fort. 
  • There is no evidence of fortification except for a small stone wall on the southern side. 
  • A small water pond is situated in the center.

News: IT

Tandulwadi Fort FAQs

Q1: Where is Tandulwadi Fort located?

Ans: Near Lalthane village in Palghar district, Maharashtra.

Q2: Approximately how old is Tandulwadi Fort?

Ans: About 800 years old.

Q3: Which nearby towns and geographical features are visible from Tandulwadi Fort?

Ans: Saphale, Zanzorli Lake, and the confluence of the Surya and Vaitarna rivers.

Q4: During whose rule was the first known history of Tandulwadi Fort recorded?

Ans: Jafar Khan, son of Ahmed Shah of the Gujarat Sultanate.

Q5: For what strategic purpose was Tandulwadi Fort used during the Gujarat Sultanate?

Ans: As a reconnaissance (watch) fort to monitor neighbouring forts and the Arabian Sea.

Modified UDAN Scheme

July 5, 2026
Modified UDAN Scheme

Modified UDAN Scheme Latest News

The Prime Minister recently inaugurated the new terminal building at Jodhpur airport and launched the modified UDAN Scheme. 

About Modified UDAN Scheme

  • With an allocation of Rs 28,840 crore over the next 10 years, the scheme aims to accelerate the next phase of aviation-led development.
  • A key emphasis is on the development of 100 aerodromes from existing unserved airstrips, supported by an outlay of over Rs 12,000 crore, to expand aviation infrastructure across the country. 
  • Over Rs 2,500 crore has been earmarked for Operations and Maintenance (O&M) support to ensure the viability of regional airports during their initial years of operation. 
  • Additionally, an investment of ₹3,661 crore will fund the creation of 200 modern helipads, and a continued Viability Gap Funding of ₹10,043 crore for airlines to sustain regional airline operations. 
  • The scheme promotes the induction of indigenous aircraft and helicopters, including HAL Dhruv and Dornier platforms, for operations in underserved and remote regions. 

About UDAN Scheme

  • The Ude Desh ka Aam Nagrik (UDAN) scheme is a Regional Connectivity Scheme (RCS) launched in October 2016 by the Government of India to enhance air connectivity to underserved and unserved regions.
  • Objectives:
    • Improve regional connectivity across Tier-2 and Tier-3 cities. 
    • Make air travel affordable for common citizens. 
    • Promote balanced regional development. 
    • Enhance the infrastructure utilisation of unused and underutilised airports. 
  • The mission has two parts. 
    • First, make air travel affordable on short regional sectors where train journeys take 10-18 hours. 
    • Second, revive unserved and underserved airports — places that had runways but no scheduled commercial flights.
  • The first UDAN flight took off on 27 April 2017, connecting Shimla to Delhi. 
  • Key Features:
    • Airlines are selected through a competitive bidding mechanism. 
    • Viability Gap Funding (VGF) is provided to airlines to operate on less profitable routes. 
    • The Airports Authority of India has also waived off the airport fee for the same.
    • At the same time, the state governments are also providing security, electricity, and fire-fighting facilities free of cost. 
    • 50% of seats are offered at a capped fare of around Rs. 2,500 per hour of flight. 
    • Focus on connecting remote, hilly, and island regions. 
  • Funding Mechanism:
    • Initially funded through a Regional Connectivity Scheme levy imposed on flights operating on major routes. 
    • The levy subsidised airlines operating on regional routes.
  • The Ministry of Civil Aviation runs it through the Airports Authority of India (AAI), which acts as the implementing agency for bidding, monitoring, and viability gap funding payouts to airlines.
  • Phase-by-phase Summary:
    • UDAN 1.0 (2017): 128 routes awarded; first commercial flight Delhi–Shimla.
    • UDAN 2.0 (2018): added priority areas including the North-East, hill states, islands; helicopter routes introduced.
    • UDAN 3.0 (2018-19): tourism-focused routes, seaplane operations, and select international connectivity.
    • UDAN 4.0 (2020): further expansion to remote areas and water aerodromes, longer stage length allowed.
    • UDAN 5.0 onwards: stage length raised to enable longer regional links; relaxation of viability period rules; helicopter and small-aircraft sub-schemes (Sagarmala Seaplane, Krishi UDAN, etc.)

News: TH

Modified UDAN Scheme FAQs

Q1: What is the total financial allocation under the Modified UDAN Scheme?

Ans: ₹28,840 crore over the next 10 years.

Q2: How many aerodromes are proposed to be developed under the Modified UDAN Scheme?

Ans: 100 aerodromes.

Q3: How much has been earmarked for Operations and Maintenance (O&M) support under the Modified UDAN Scheme?

Ans: More than ₹2,500 crore.

Q4: How many helipads are proposed under the Modified UDAN Scheme?

Ans: 200 modern helipads.

Micromonospora shyamaprasadii

July 5, 2026
Micromonospora shyamaprasadii

Micromonospora shyamaprasadii Latest News

Scientists at Raiganj University recently discovered a new bacterial species and named it Micromonospora shyamaprasadii.

About Micromonospora shyamaprasadii

  • It is a new species of bacteria.
  • It was discovered from West Bengal. 
  • It was isolated from the mulberry rhizosphere — the active soil zone around mulberry roots. 
  • It was named in honour of Syama Prasad Mookerjee on his 125th birth anniversary. 
  • The bacterium appears to produce compounds that prevent the growth of harmful bacteria, indicating its antibiotic potential. 

Key Facts about Micromonospora

  • It refers to a genus of bacteria of the family Micromonosporaceae.
  • They are gram-positive, spore-forming, and generally aerobic. 
  • They are widely distributed in various environments, including coastal and marine sediments, peat swamp forests, and plant rhizospheres, where they often form intimate associations with plant roots, including those of rice, wheat, and various legumes.
  • These bacteria also exist in complex microbial communities in soil and the rhizosphere. 
  • They are best known for producing bioactive compounds, including antibiotics and industrially important enzymes.

News: TOI

Micromonospora shyamaprasadii FAQs

Q1: What is Micromonospora shyamaprasadii?

Ans: It is a newly discovered species of bacteria.

Q2: Where was Micromonospora shyamaprasadii discovered?

Ans: West Bengal.

Q3: From which habitat was Micromonospora shyamaprasadii isolated?

Ans: The mulberry rhizosphere.

Q4: What is the rhizosphere?

Ans: The active soil zone surrounding plant roots.

Q5: What potential application does Micromonospora shyamaprasadii have?

Ans: It has antibiotic potential.

Seabuckthorn

July 5, 2026
Seabuckthorn

Seabuckthorn Latest News

Recently, Spiti’s seabuckthorn has been granted the Geographical Indication (GI) status.

About Seabuckthorn

  • It is popularly known as the ‘Wonder Plant’, ‘Ladakh Gold’, ‘Golden Bush’, or ‘Gold Mine’ of cold deserts.
  • It is an important plant of trans-Himalayan region that belongs to the family Elaegnaceae.
  • Distribution: Sea buckthorn (Hippophae rhamnoides) is a plant found throughout Europe and Asia. 
    • In India, it is found above the tree line in the Himalayan region, generally in dry areas such as the cold deserts of Ladakh and Spiti.
  • It produces small orange or yellow-coloured berries that are sour in taste but rich in vitamins, especially vitamin C.
  • Sea Buckthorn berries have a unique characteristic of remaining intact on the shrub throughout the winter months despite the subzero temperature.

Climatic and Soil Requirements Sea buckthorn

  • It is a temperate crop and therefore its cultivation can be done only in temperate regions.
  • It can withstand a wide range of temperatures from -43 to 40°C. This unique feature enables the species to adapt very well in harsh climatic conditions.
  • The shrubs reach 0.5-6 m tall, rarely up to 10 m in height, and typically occur in dry, sandy areas, on hills and hillsides, in valleys and river-beds.
  • The dense and thorny bushes of sea buckthorn are salt tolerant and demand full sunlight for growth.

Ecological Importance of Sea buckthorn

  • The shrub develops an extensive root system having ability to fix atmospheric nitrogen.
  • It is an ideal plant for soil erosion control, land reclamation, wildlife habitat enhancement and farm stand protection in temperate regions.

Source: IE

Seabuckthorn FAQs

Q1: What is Seabuckthorn also known as?

Ans: Wonder Plant, Ladakh Gold, Golden Bush, Gold Mine, Chharma (HP), Leh Berry

Q2: Where is Seabuckthorn found in India?

Ans: Above tree line in Himalayas – Ladakh, Spiti, Lahaul, Kinnaur, Uttarakhand, Sikkim, Arunachal Pradesh

Laokhowa Wildlife Sanctuary

July 5, 2026
Laokhowa Wildlife Sanctuaries

Laokhowa Wildlife Sanctuary Latest News

A large-scale eviction drive is underway at the Laokhowa Wildlife Sanctuary in Assam's Nagaon district with the administration clearing alleged encroachments spread across hundreds of bighas of cultivated land. 

About Laokhowa Wildlife Sanctuary

  • It is located on the southern part of the Brahmaputra River in the Nagaon District of Assam.
  • It forms an integral part of the Laokhowa-Burachapori ecosystem and is a notified buffer of the Kazairanga Tiger Reserve.
  • It is a part of the Brahmaputra valley.
  • The sanctuary is surrounded by human-dominated areas on all sides except for the north. 
  • Flora: The vegetation composition of Laokhowa can be broadly categorized into alluvial grassland, alluvial forest, moist  deciduous forest, and tropical semi-evergreen forest.
  • Fauna 
    • The sanctuary is home to the great Indian-one horned rhinoceros, elephants, royal Bengal tigers, Asiatic water buffaloes and more than 225 species of birds.
    • Some of the birds spotted here are the spot-billed pelican, little and large cormorant, egret, open-billed stork, brahminy kite, pond heron, etc.

Source: IT

Laokhowa Wildlife Sanctuary FAQs

Q1: Laokhowa Wildlife Sanctuary is located in which state?

Ans: Assam

Q2: What is Laokhowa primarily famous for?

Ans: Great Indian One-Horned Rhinoceros

Matcha Tea

July 5, 2026
Matcha Tea

Matcha Tea Latest News

Recently, an Assam tea estate sold India’s first commercially-produced matcha tea, marking a significant shift from conventional teas.

About Matcha Tea

  • Matcha is a finely ground green tea powder made from specially processed, shade-grown tea leaves of Camellia sinensis.
  • Origin: It originated through cultural exchanges between China and Japan during the premodern period.
  • It developed from earlier powdered tea practices in China that were later introduced to Japan by Zen Buddhist monks.

How is it produced?

  • It is made after shading tea leaves for three to four weeks before harvest. 
    • Blocking 90% of sunlight from the leaves boosts their chlorophyll and amino acid levels, and gives them a distinct colour and flavour.
  • The young leaves are harvested and steamed, then dried and de-stemmed into a flaky leaf called tencha.
  • The tencha is slowly stone-ground into the fine powder we know as matcha.
  • The shade-growing process gives matcha its characteristic bright green colour and rich umami flavour.
  • Unlike regular green tea, where the leaves are steeped and discarded, matcha is whisked into water and consumed entirely, providing higher levels of antioxidants, amino acids, and natural caffeine.

Source: TH

Matcha Tea FAQs

Q1: What plant is Matcha tea made from?

Ans: Camellia sinensis

Q2: What compound gives Matcha its umami taste & calm energy?

Ans: L-theanine – increased due to shading, prevents conversion to bitter compounds

Financial Stability and Development Council (FSDC)

July 5, 2026
Financial Stability and Development Council (FSDC)

About Financial Stability and Development Council (FSDC):

  • It is an apex-level forum constituted by the Government of India in December 2010.
  • Status: FSDC is not a statutory body. No funds are separately allocated to the council for undertaking its activities.
  • Objective: Strengthening and institutionalizing the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development.
  • Composition:
    • It is chaired by the Union Finance Minister of India.
    • Its members include the heads of financial sector Regulators (RBI, SEBI, PFRDA, IRDA & FMC) Finance Secretary and/or Secretary, Department of Economic Affairs, Secretary, Department of Financial Services, and Chief Economic Adviser.
    • The Council can invite experts to its meeting if required.
  • Functions:
    • It monitors macroprudential supervision of the economy, including the functioning of large financial conglomerates.
    • It addresses inter-regulatory coordination and financial sector development issues.
    • It also focuses on financial literacy and financial inclusion.
  • Sub-committee of FSDC: 
    • A sub-committee of FSDC has also been set up under the chairmanship of Governor RBI. 
    • It discusses and decides on a range of issues relating to financial sector development and stability, including substantive issues relating to inter-regulatory coordination.

 

Q1) What are Macroprudential policies?

Macroprudential policies are financial policies aimed at ensuring the stability of the financial system as a whole to prevent substantial disruptions in credit and other vital financial services necessary for stable economic growth.

Source: Nirmala Sitharaman chairs the 27th meeting of Financial Stability and Development Council, watch!

What is Atal Mission for Rejuvenation and Urban Transformation (AMRUT) Scheme?

July 5, 2026
What is Atal Mission for Rejuvenation and Urban Transformation (AMRUT) Scheme?

About AMRUT Scheme

  • It was launched by the Ministry of Housing and Urban Affairs on 25th June 2015, in 500 selected cities and towns across the country. 
  • It focuses on development of basic infrastructure in the selected cities and towns in the sectors of water supply, sewerage and septage management, storm water drainage, green spaces and parks, and non-motorized urban transport. 
  • A set of Urban Reforms and Capacity Building have been included in the mission.
  • AMRUT Mission has been subsumed under AMRUT 2.0, which was launched on 01st October, 2021.
  • AMRUT 2.0, which was launched for a period of five years, from the financial year 2021-22 to the financial year 2025-26, is designed to provide universal coverage of water supply through functional taps to all households in all the statutory towns in the country and coverage of sewerage/septage management in 500 cities covered in the first phase of the AMRUT scheme.
  • AMRUT 2.0 will promote a circular economy of water through the development of City Water Balance Plan (CWBP) for each city focusing on recycle/reuse of treated sewage, the rejuvenation of water bodies, and water conservation.
  • It will help cities to identify scope for projects focusing on universal coverage of functional water tap connections, water source conservation, rejuvenation of water bodies and wells, recycle/reuse of treated used water, and rainwater harvesting. 
  • Based on the projects identified in CWBP, Mission envisages making cities ‘water secure’ through a circular economy of water.
  • The mission also has a reform agenda on ease of living of citizens through reduction of non-revenue water, recycle of treated used water, rejuvenation of water bodies, augmenting double entry accounting system, urban planning, strengthening urban finance etc.
  • Other components of AMRUT 2.0 are:
    • Pey Jal Survekshan to ascertain equitable distribution of water, reuse of wastewater, mapping of water bodies, and promote healthy competition among the cities /towns.
    • Technology Sub-Mission for water to leverage latest global technologies in the field of water.
    • Information, Education, and Communication (IEC) campaign to spread awareness among the masses about conservation of water.
  • The total indicative outlay for AMRUT 2.0 is ₹2,99,000 crore including Central share of ₹76,760 crore for five years.

Q1) Which are the major tributaries of Krishna River?

The principal tributaries joining Krishna are the Ghataprabha, the Malaprabha, the Bhima, the Tungabhadra and the Musi.

Source: 39 sewage treatment plants from AMRUT scheme to line Musi river in Hyderabad

Pension Fund Regulatory and Development Authority

July 5, 2026
Pension Fund Regulatory and Development Authority

Pension Fund Regulatory and Development Authority Latest News

The Pension Fund Regulatory and Development Authority (PFRDA) recently issued regulations for the operationalisation of the Unified Pension Scheme (UPS) under the National Pension System (NPS), 2025.

About Pension Fund Regulatory and Development Authority

  • It is a statutory regulatory body set up under the PFRDA Act enacted in 2014.
  • Objective: To promote old-age income security by establishing, developing, and regulating pension funds and to protect the interests of subscribers to schemes of pension funds and related matters.
  • It comes under the jurisdiction of the Ministry of Finance.
  • PFRDA is headquartered in New Delhi, with regional offices located around the country.

Pension Fund Regulatory and Development Authority Composition

  • Section 4 of the PFRDA Act specifies that the Authority shall consist of the following members, namely:
    • a Chairperson;
    • three whole-time members; and
    • three part-time members,
    • to be appointed by the Central Government from amongst persons of ability, integrity, and standing and having knowledge and experience in economics or finance or law with at least one person from each discipline.

Pension Fund Regulatory and Development Authority Functions

  • Regulate the National Pension System (NPS) and other pension schemes to which the PFRDA Act applies;
  • Undertaking steps to educate subscribers and the general public on issues relating to pensions, retirement savings, and related issues, and training intermediaries.
  • Providing pension schemes not regulated by any other enactment;
  • Protecting the interests of subscribers of NPS and such other schemes as approved by the authority from time to time.
  • Approving the schemes and laying down norms of investment guidelines under such schemes;
  • Registering and regulating intermediaries: NPS Trust, Points of Presence, Central Record-keeping Agency, Trustee Bank, Pension Funds, Custodian for time-bound service to subscribers.
  • Ensuring that the intermediation and other operational costs are economical and reasonable;
  • Making the existing grievance redressal process robust and time-bound.
  • Adjudication of disputes between intermediaries and between intermediaries and subscribers.

Pension Fund Regulatory and Development Authority FAQs

Q1. Is Pension Fund Regulatory and Development Authority (PFRDA a statutory body?

Ans. Yes, the Pension Fund Regulatory and Development Authority (PFRDA) is a statutory body.

Q2. Which department is PFRDA under?

Ans. It comes under the jurisdiction of the Ministry of Finance.

Q3. Who appoints the members of the Pension Fund Regulatory and Development Authority (PFRDA)?

Ans. Central Government

Source: BS

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